The Impact of the Financial Crisis on Corporate Social Responsibility Results

Abstract

The study's objective is to assess how the financial crisis has affected corporate social responsibility 
(CSR) performance. Based on businesses that use Global Report Initiatives (GRI) reporting rules that 
alter the application level in a point score system, an empirical study is carried out. The GRI report 
lists 112 firms in total for the years 2007, pre-financial crisis, 2008, 2009, and 2010. To determine if a 
downturn in the economy has an impact on CSR performance, the Wilcoxon signed rank sum test is 
used. With the exception of the years 2009–2010, the results show improved CSR performance both 
before and after the financial crisis. Businesses perform better in an effort to win back the trust that has 
been lost. A conversation about a financial crisis and CSR performance and reporting is also 
encouraged by the research.