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The impact of corporate social responsibility, financial planning and financial analysis on the financial performance of Indian financial companies: Financial management is a modified variable
1 Department of Technical & Vocational, Higher Institute of Sciences and Technology, Kabaw, State of Libya.
2 University of Zintan, Faculty of Economics and Political Science, Tij,, State of Libya.
Review
International Journal of Science and Research Archive, 2024, 11(01), 651–666.
Article DOI: 10.30574/ijsra.2024.11.1.0066
Publication history:
Received on 05 December 2023; revised on 13 January 2024; accepted on 16 January 2024
Abstract:
This study aims to analyze in detail the direct impact of corporate social responsibility, financial analysis and financial planning on financial performance directly, as well as the indirect relationship and indirect effect between corporate social responsibility, financial analysis and financial planning on financial performance using a modified financial management metaphor in Indian financial companies. Data were collected through questionnaires for 160 employees in the financial departments, accounting departments, and audit departments in the companies under study, which were conducted for a period of three months in some financial companies in the private sector in the Republic of India. This study uses structural equation model analysis from the Partial Least Squares program through Smart Plus 4 programs. Through the analysis, the results showed that the relationship between corporate social responsibility -> financial performance is negative, as the beta value was negative, meaning that corporate social responsibility is positive and affects directly on financial performance, but the relationship between them is negative. It was noted through the analysis that the direct effect between financial analysis and financial performance is positive. There is a positive and significant relationship, as it was observed through the analysis that there is a direct effect between the modified variable represented by financial management and financial performance. There is also a positive and significant relationship, as it was observed through the analysis that there is a direct effect between financial planning and financial performance, that is, financial planning affects Positively and directly affect financial performance. Regarding the relationship and indirect effect between the study variables, it was determined through analysis that all independent variables do not positively affect financial performance when the financial management uses a modified variable.
Keywords:
Corporate social responsibility; Financial analysis; Financial planning; Financial performance; Financial management; Asmarat Plus
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