Would Corporate Social Responsibility Act as a Double-edged Sword in a Pandemic (Covid-19)?

Abstract

This study attempts to explore the impact of corporate social responsibility activities performed during the pandemic (Covid-19) on firm financial performance. For the purpose of data collection, semi-structured interview methodology is adopted. The data is collected from the respondents who are the customers/consumers of the food items and pharmaceuticals sectors. Based on the interviews it is found that CSR affects the firm financial performance. The findings of the study also suggest that CSR activities are the assets of the organization in the form of corporate reputation, competitive advantage, customer satisfaction, and brand equity. Moreover, CSR activities and financial performance bond grows stronger when firms genuinely perform CSR activities for the stakeholders in need. Our concrete conclusion is that genuine CSR activities provide hedge and act as a double-edged sword during the pandemic (Covid-19).