Ckechk Kinder, Lydenberg, Domini (KLD) Research and Analytics.  KLD is a CSR rating provider that specializes in reporting firms’ social responsibility across a wide range of areas:  Environment, Community, Diversity, Employee Relations, Human Rights, Product Quality and Safety, and Corporate Governance. KLD ratings provide 0 or 1 for various social responsibility indicators.  For example, if a company gives a certain percentage of its net earnings to charity, it is scored 1 for the Charitable Giving strength indicator (in the Community dimension), and 0 otherwise. 

There is no available index for CSR in India as of now. Studies have used ratio of CSR expenditure over profits to capture the extent of CSR (CSR intensity)in the Indian context.

Thank you for your response. This will certainly help me in my research. 

Dear Madhuri,

There are plenty of CSR/SRI/ESG data - also for India. Look at GISR's hub for raters and rankers, which also hold a range of global raters and rankers.

Just be careful with data bias, as the raters are often not very open about how they rate and rank - and not the least which screening policies they use. It could ruin your research - so be careful with that.

In the U.S. we don't have a specific index.  It seems to me that as accountants we are experts in the measurement  of revenue and cost.  Firms that report these items with regard to CSR are generally rewarded by the stock markets.  You may find Dhaliwal et al.'s paper in the The Accounting Review 86(1): 59-100 an interesting example.

Thanks a lot for your response. I will look into the paper you mentioned. Thanks. 

Dear Madhuri,

There is no available index for CSR in Sri Lanka also . Studies have used ratio of CSR expenditure over profits to capture the extent of CSR (CSR intensity)in the Sri Lankan context. Like India

http://www.thehindu.com/business/Industry/indias-first-csr-index-on-its-way/article5160871.ece

There is no such available index for CSR measurement in India. Different parameters have been used by many authors for measuring the same.

In India BSE and IICA are working for development and construction of CSR index. For more information you can visit IICA  and BSE (sustainability) website.

To me such CSR index should be customized to suit the users environment. What serves in US may not be relevant in other climes. Currently the best universally acceptable index is the CSR intensity which is the ratio of expenditure on CSR to the net earnings of the firm. You can be safer from attacks from analysts if you adopt it. 

Dear Madhuri,

Hi

I did a quick search and couldn't find a CSR index on BSE SENSEX unless it is in the local language. 

There are many great references that I have encountered during my study on the subject. You can find most of them cited in the articles attached.

If you're working on CFP-CSR link, then the following publications are really helpful:

Barnett, M. L., & Salomon, R. M. (2012). Does it pay to be really good? Addressing the shape of the Relationship between social and financial performance. Strategic Management Journal, 33, 1304-1320.

Preston, L. E., & O'Bannon, D. P. (1997). The Corporate Social-Financial Performance Relationship: A Typology and Analysis. Business and Society, 36, 419-429.

Waddock, S. A., & Graves, S. B. (1997). The Corporate Social Performance Financial Performance Link. Strategic Management Journal, 18(4), 303-319.

For forecasting financial performance, CSR is not theoretically a strong indicator but one cannot know for sure until it is tested in the local market or index you're aiming for (i.e. BSE SENSEX).

Hope it helps.

Article Designing a General Set of Sustainability Indicators at the ...

Article Developing a Fuzzy Corporate Performance Rating System: A Pe...

To create CSR index, please see the paper "Di Giuli and Kostovetsky" Journal of Financial Economics paper : "Are Red and Blue Companies more likely to go green? Politics and Corporate Social Responsibility". The paper uses KLD data to calculate CSR index.

I am not an expert on this issue, but try to refer to the attached paper.

HI,

You may refer to this typology:

H K Aggerholm, L Trapp, "Three tiers of CSR: An insqtructive means of understanding and guiding contemporary company approaches to CSR?"

Business Ethics: A European Review, Vol 23, N°3, July 2014, p 235-247.

Best regards.

thank you for the reference. 

will have a look at this paper. 

The S&P SEG data can be used as a CSR proxy because it includes social environmental and goverance parameters. Its important that you go through the methodology by which this index is calculated.

Thank You. I will go through it. 

Dear Madhuri,

I agree with Ruchi Tewari - there is so much bias, and often also poor and old data quality, in the ESG ratings, so you have to be sure you understand how it is made before using one or several of these. See also this other research-gate debate: https://www.researchgate.net/post/Are_there_any_publically_available_data_sets_or_sources_that_provide_Corporate_Social_Responsibility_CSR_scores_of_companies2?view=5966af7c96b7e43ea02e480c

Best wishes for your project.

Dear Madhuri Mam,

This is not the answer but question based on the answers received on this platform.

Have you concluded on the question raised by you and answers given by so many researchers. Pl tell us briefly

CSR index is not available for BSE SENSEX firms as yet.

The Indian Institute of Corporate Affairs (IICA) and the Bombay Stock Exchange (BSE) had signed a pact to develop India's first corporate social responsibility (CSR) index.

The IICA-BSE CSR Index will assess the impact and performance of companies listed at BSE in CSR activities. The index would also look at the performance of companies in their mandatory CSR spend as per the new Companies Act, 2013 as one of the important and objective criteria. The index would be sector neutral.