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This paper aims to examine the impact of corporate social responsibility (CSR) on financial performance (FP) of Indian steel industry in terms of value-added (VAM), profitability (PM), market (MM) and growth measures (GM).

It is an empirical study using secondary data of 40 companies for 14 years collected from CSR/annual reports/official websites of the companies and Prowess database. The panel regression analysis, MANOVA and univariate ANOVA have been conducted to examine the impact of CSR on FP.

The result indicates a positive impact of CSR on FP in terms of VAM, PM and GM, thereby indicating that more investments in CSR will generate wealth for shareholders, enhance profitability and sales. Moreover, this study shows no noticeable relationship between CSR and MM.

This study contributes to the literature on the CSR–FP relationship and also has implications for managers, investors and other stakeholders. Companies with higher CSR rating create a brand image, attract proficient employees, get greater profit, loyal customers and have less possibility of bribery and corruption. This study may result in being influential to companies confined not only to this sector but also reaching to the others, thus inspiring them to contribute their share of profit for the welfare of society.

To the best of the authors' knowledge, it is the first comprehensive study to examine the impact of CSR on FP of Indian steel industry by considering four dimensions for measuring FP. It provides evidence about the relationship between CSR and FP.

This study aims to understand the corporate social responsibility (CSR) perspective of the employees working in manufacturing sector and service sector and further investigates whether there is any significant difference in their opinion on the basis of their gender and their hierarchical position in the organization.

In total, 300 employees of manufacturing and service sector companies have participated in this study. To test the hypotheses, the researcher has used two-way ANOVA, with diagrammatic presentation with the help of SPSS.

The results showed that there was a non-significant effect of gender on the perceived impact of CSR and employees at various level of hierarchy perceived the impact differently by the type of companies in which they work. Specifically, there was significant difference in the perceived impact for officers, managers and assistant managers in manufacturing and service sector, whereas for executives, the perceived impact varied significantly in manufacturing and service sector.

This study has analysed the perception of 300 employees including the employees of the manufacturing and service sectors. Also, the analysis is based on two demographic variables, i.e. gender and hierarchical level which may be considered as the limitation of the study.

The major contribution of this study is the fact that the employees have similar kind of opinion for the efforts and initiatives taken by their companies for CSR practices. The work culture, corporate ethics, managerial support and sectorial priorities do not have much influence on the employees in terms of CSR. However, the employee’s opinion may change after reaching to higher position in organization.

This study is totally unique in nature. As per the researcher’s knowledge, no documented study is available that investigates the CSR perspective of employees from two major sectors, i.e. manufacturing and service sector that validates this study.