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Does Executive Compensation Impact Mandatory CSR Expenditure? Evidence from India

Neetu Yadav & Geeta Singh

Journal of Emerging Market Finance2025https://doi.org/10.1177/09726527251343991article
AJG 2ABDC B
Weight
0.37

Abstract

Our study examines the relation between the executives’ compensation and CSR expenditure in Indian firms. We employ OLS and Tobit regression to analyze the relation between executives’ compensation and CSR expenditure in more than 3,900 listed firms, from 2015 to 2023. We find that the variable component of the CEOs’ and CMDs’ compensation has a positive relation with the CSR expenditure made by the firm. We base our results on the argument of CSR improving the reputation of the firms in the market and, thus, motivating the managers to spend more in the activities related to CSR. JEL Codes: G38, M12, M14, M48

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https://doi.org/https://doi.org/10.1177/09726527251343991

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@article{neetu2025,
  title        = {{Does Executive Compensation Impact Mandatory CSR Expenditure? Evidence from India}},
  author       = {Neetu Yadav & Geeta Singh},
  journal      = {Journal of Emerging Market Finance},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/09726527251343991},
}

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Does Executive Compensation Impact Mandatory CSR Expenditure? Evidence from India

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.