Corporate social responsibility (CSR): evolution, frameworks, evidence and implications — An Indian perspective

Corporate Social Responsibility (CSR) has transitioned from ad-hoc philanthropy to an institutionalized, strategic dimension of business practice that intersects ethics, governance, sustainability and value creation. This paper synthesizes secondary research—academic literature, standards documents, government policy, and practitioner reports—to present an integrated account of CSR’s evolution, theoretical foundations, global frameworks, empirical evidence linking CSR and firm performance, and the unique regulatory landscape of India post-Companies Act, 2013. The analysis highlights implementation challenges such as greenwashing, measurement limitations, and uneven geographic distribution of CSR funds. The paper concludes with managerial recommendations and an agenda for future research aimed at improving CSR effectiveness and aligning corporate actions with the United Nations Sustainable Development Goals (SDGs).