The connection between corporate social responsibility (CSR) and performance is still unclear, despite CSR's increasing importance in the business, governmental, and academic domains. A clearer knowledge of the connection between businesses' financial performance and CSR initiatives is provided by this study. Stated differently, can the utilization of corporate resources for addressing social, environmental, and governance concerns create a mutually beneficial relationship that boosts financial performance and adds value for the company and its stakeholders? We conducted a systematic assessment and content analysis of 53 publications that were found to be connected between CSR and financial performance between 1984 and 2021 in order to map this topic and provide fresh insight into it.
According to our research, a company's financial performance is directly impacted by corporate social responsibility (CSR), and this influence grows as the company's environmental, social, and governance (ESG) ratings rise. Furthermore, it is important to acknowledge that this is a thorough study, the results of which include analyses of mutual funds, sustainable and non-sustainable portfolios, regions, emerging markets, developed and developing countries, and companies from the world's largest stock market indices. Furthermore, this work offers a direction for further investigation.
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