Literature Review
There have been a range of perspectives on corporate governance and corporate social responsibility frameworks in search of corporate social responsibility disclosures in the annual reports of corporates within India and abroad and various journals and books on the same. Studies by Lewis (2003) and Nielsen et al. (2009) suggested that society value, new business opportunities, firm’s reputation, better stakeholder’s relationship acts like a driving force for a business firm to implement CSR. The international journal of business research and development highlighted the CSR activities followed in the changing globalized market scenario. It presents the distinction between theoretical approaches followed throughout the world. The research article on corporate governance and corporate social responsibility by Victoria Wise presented the interrelationship between the two. The Forbes article on the recent development in Indian scenario highlighted the changes in the norms and the challenges faced by the corporates.