Corporate Social Responsibility Practices Evidence from Selected Companies in Colombo Stock Exchange

Abstract

This study investigates about the corporate social responsibility practices based on selected companies in Colombo Stock Exchange (CSE). The study also looks into the actual contribution of CSR activities conducted by companies of CSE. The study documents the best corporate social responsibility reporting sector of Colombo stock exchange. Study also identifies how Sri Lankan companies perceive Corporate Social Responsibility. This research has used secondary data for the purpose of analysis and the sources of data include the annual reports of selected companies. This study has selected ten sectors and from each those ten sectors six companies have been selected. These ten sectors include Bank and Financial, Hotels and Travels, Beverage, Diversified holdings, Manufacturing, Trading, Plantation, Construction, Health care and services. Study results suggested that banking sector is the best for practicing corporate social responsibility. Companies have different reasons for issuing CSR reports. Information on CSR activities is measured valuable by both academic researchers and business managers as it provides a working framework on which future studies can be based. In addition, it improves understanding of the social obligations, which corporate entities are obliged to their stakeholders and society in general.