Comparative Study on Bangladeshi Nationalized Commercial Banks Regarding CSR Disclosure and Practices in Financial Statements
DOI:
https://doi.org/10.5281/zenodo.13145802Keywords:
Corporate Social Responsibility, Practices and Disclosures, Bangladeshi , Nationalized BanksAbstract
The banking sector is an industry that significantly depends on the confidence and trust of its clients, which in turn enables the bank to get funds from a range of other sources. A bank's ability to earn a profit is closely correlated with the caliber of its fund management as well as the extent to which it looks into and actively seeks chances to invest its assets in order to achieve the highest potential returns. Businesses have obligations beyond producing a profit since they are socially significant institutions. Instead, they must assist those who are directly or indirectly impacted, favorably or unfavorably, by the organizations' efforts. Consequently, businesses that are publicly traded are more likely to engage in and report on corporate social responsibility initiatives. The role of business has changed over the past several decades from the conventional "profit maximization" strategy to one of social responsibility. In a broader and more inclusive sense, this means that corporations are now accountable to the majority of their stakeholders in addition to their investors. This is especially valid in advanced economies. In today's information age, reporting on a company's corporate social responsibility is crucial for rising nations. In recent decades, the traditional "profit maximization" business strategy has given way to an emphasis on social responsibility. In a broader and more inclusive sense, this means that corporations are now accountable to the majority of their stakeholders in addition to their investors. This change has taken place all around the world, although it is more obvious in countries with developed economies. In this age of knowledge, reporting on corporate social responsibility is crucial for developing nations. The study's findings illustrate the importance of corporate social responsibility programs in developing countries like Bangladesh. Annual reports from nationalized banks in Bangladesh of CSR-related reports from 2018–2020 were included in the research. It has been found that nationalized commercial banks only included a little amount of CSR information and expenses in their yearly financial reports.
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Copyright (c) 2024 Champak Kumar Bormon
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