TABLE OF CONTENTS

Chapter 1:- INTRODUCTION

1.1 Defining Corporate Social Responsibilities
1.2 Defining Brand
1.3 Defining Brand Equity
1.4 Problem Definition
1.5 Research Objectives
1.6 Hypothesis

Chapter 2:- LITERATURE REVIEW

2.1 The Evolution of Corporate Social Responsibility
2.2 Impact of Corporate Social Responsibility on Brand Equity
2.3 UN Global Compact
2.4 Corporate Social Responsibility in India: An Over View
2.5 Impact of Brand Equity on Customer Delight: A Study of Retail Sector
in Kolkata
2.6 The Effect of Brand Equity on Purchase Intention: An Empirical
Investigation with Special Reference to Car Owner in West Delhi
2.7 Enhancing Customer-Based Brand Equity through CSR in the
Hospitality Sector
2.8 Environmental CSR-Initiatives Influence on Brand Equity: A Case of
Eco-Labeling
2.9 BRAND EQUITY AND CORPORATE SOCIAL RESPONSIBILITY–
CONCEPTS AND CASES
2.10 Corporate Social Responsibility as a determinant of market success:
An exploratory analysis with special reference to MNC’s in emerging
markets
2.11 How CSR Affects Brand Equity of Indian Firms
2.12 Consumer-Company Identification: A Framework for Understanding
Consumers’ Relationships with Companies
 Chapter 1: INTRODUCTION
The objective of this research is to answer the question: What is Corporate
Social Responsibility (CSR) and Brand Equity and how do organizations
use CSR (corporate social responsibility) to reinforce brand equity? When
thinking about what Corporate Social Responsibility is, one thing that
comes to mind is that some organizations use CSR as a marketing tool in
its broadest sense, and are mostly concerned with their profits and not with
the underlying social value based on ethical considerations. Other
organizations do however conduct their business in a manner that reflects
ethical concern but the real concept of Corporate Social Responsibility is
where a company manages its business activities in order to provide long
term sustainable social benefits to the society and is involved in the well-
being of the society.

1.1 Defining Corporate Social Responsibility

 The World Business Council for Sustainable Development in its

publication Making Good Business Sense by Lord Holme and Richard
Watts, used the following definition:

“Corporate Social Responsibility is the continuing commitment by business to

behave ethically and contribute to economic development while improving the
 quality of life of the workforce and their families as well as of the local
community and society at large”

 CSRidentity.com (Indian NGOs) defines CSR as:

“Corporate social responsibility is a business4Stakeholderprocess wherein the

institution and the Social individuals within are sensitive and careful
Environmental about the direct and indirect effect of their Economic work on
internal and external communities, nature and the outside world”

Different organisations have framed different definitions - although

there is considerable common ground between them that ‘CSR is
about how companies manage the business processes to produce an
overall positive impact on society.’

The definitions just created a very broad domain, of course, and

include not only duties and actions directed at individuals, but also the
ethics and how to improve the quality of life of the local communities
and societies.

Companies in almost every sector of business embrace Corporate

Social Responsibility (CSR) not only because it's the right thing to do,
but because it strengthens their brands. Corporate Social
Responsibility is not a new concept in the current businesses but in
early times it was not considered as an important tool and was just
used to fill their annual reports and statements. In the early times, it
was not a business strategy to be followed but gradually they realized
 that CSR is something and can give benefit to the company as well as
to the society.

Corporate Social Responsibility is not about giving charity, it is about

giving back to the society. This concept should make companies to
think again on this issue and the brand owners should start looking
into this and making this a core business strategy.

1.2 Defining Brand

Brand creates a perception about the company’s product or service in the

mind of a consumer. Unique design, sign, symbol, words, or a combination
of these, employed in creating an image that identifies a product and
differentiates it from its competitors. Over time, this image becomes
associated with a level of credibility, quality, and satisfaction in the
consumer's mind (see positioning). Legal name for a brand is trademark
and, it identifies or represents a firm, it is called a brand name.

 Philip Kotler/Gary Amstrong defines ‘Brand’ as a

"Name, term, sign symbol (or a combination of these) that identifies the maker or
seller of the product".

 The American Marketing Association (AMA) defines a brand as a

 “Name, term, sign, symbol or design, or a combination of them intended to
identify the goods and services of one seller or group of sellers and to
differentiate them from those of other sellers.”

Branding is absolutely critical to a business because of the overall impact it

makes on your company. Branding can change how people perceive your
brand, it can drive new business and increase brand awareness. It is about
creating and delivering a promise to target consumers. This promise can be
about functional satisfaction, experiential enrichment, or aspiration
fulfilment.
Increasingly, brands are promising that they not only care about their
customers but also about their employees, the environment, and humanity
at large.

Although there has been considerable research into the relationship

between corporate social responsibility and brand Equity, it has frequently
reflected either an ideological bias or limited methodological procedures.
Research has also been impeded by the difficulty of adequately measuring
CSR and brand Equity.

The interesting finding is that the relationship between brand and CSR
is strongest for familiarity, not for favourability. That is, if a company is
well known in its community, its CSR activities will strengthen its
brand more than they would if the company were less well known. The
implication is that CSR's impact is strongest with customers who are
already familiar with the company, enhancing relationships with
existing clients or consumers.
1.3 Defining Brand Equity

Brand equity is a major indicator of company’s strength and

performance, specifically in the public markets. Often, companies in
the same industry or sector compete on brand equity. It is an asset of
the company which builds a strong brand among their competitors and
can increase a financial value of a brand.
 Ramachandran defines brand equity as:

“Brand equity refers to the marketing outcomes that accrue to a product with its
brand name compared with those that would accrue if the same product did not
have the brand name. In other words, consumers‟ knowledge about a brand
makes manufacturers/advertisers respond differently or adopt appropriately
adept measures for the marketing of the brand.”

Brand equity has three basic components: consumer perception, negative

or positive effects, and the resulting value. Foremost, consumer perception,
which includes both knowledge and experience with a brand and its
products, builds brand equity. The perception that a consumer segment
holds about a brand directly results in either positive or negative effects. If
the brand equity is positive, the organization, its products, and its financials
can benefit.

1.4 Objectives of Research

 How CSR increases the brand equity.
 To find out the CSR impact on a brand equity value whether in the
short-term or in the long-term.
  Stakeholder issues such as environmental policy, community
involvement, child labour problems, working environment and
employment relations.
 How CSR effects the Environment, Labour, Local Community and
what is the subsequent on the competitive advantage of the company
and its brand equity.

1.5 Hypothesis
A statistical hypothesis is an assertion or conjecture concerning one or more
popultaions.
To prove that a hypothesis is true or false,with absolute certainity,we would
need ABSOLUTE KNOWLEDGE.That is,we would have to examine the entire
population.
Instead,hypothesis testing concerns on how to use a randomsample to judge if
there is an evidence that supports the hypothesis or not.
H0: If there is no CSR Brand Equity still exists
H1: If there is CSR then Brand Equity exists as well.

The reason to include negative attribute of CSR is to determine what

difference (if any) it brings to the Brand Equity of any Company and what
other variables do companies adopt.
 Chapter 2: Literature Review

CSR is basically the relation between an organization and a community. It

includes how a firm deals with its suppliers, customers, community,
employees and interest groups. In the past few years, the brand was
considered not as a part but a separate entity of the goods, according to
Aaker and Joachimsthaler (2000). In the past, brand model was considered
to be the brand management team, who create and design all the brand
management plans, and brand manager was responsible for that brand and
product in a market.

2.1 The Evolution of Corporate Social Responsibility

By- Adolf A. William Dodd and Martha Dodd

For the last decade, the idea of communal societal accountability has
developed a lot from a small and frequently marginalized idea of a
composite and versatile term. Two lecturers Adolf A. William Dodd and
Martha Dodd are the initial scholastics to discuss the Corporate Social
Responsibility issue. Burt & Mellahi (2002) argued that directors are only
accountable to stiff shareholders, while Dodd disputed that they have a
superior and a wider variety of tasks. Bowen has been called the father of
Corporate Social Responsibility in the recent years. The United States
observed the current social privileges faction during the 1950s and 1960s.
A mixture of the social rights-movement, and the Vietnam conflict in the
1960s and untimely 1970s, brushed dissimilar communal activities jointly.
The commerce surroundings were distorted crossways the earth by using
campaigner collections and NGOs. Nowadays, associations, similar to
Green Peace and Amnesty, frequently use the influence of media to tell the
 community about commerce practices that they find communally reckless.
Serious harm to a firm’s position occurs by the unwanted media attention.
This may cause disgruntled workers and a reduced level of trade. They
disputed that brands were no longer immediately concerned in the dispute
of principles and communal topics, but associations were also performing a
convinced mode to gratify the prospection from the media and the
civilization. Some compacts were required to modify their goods, strategies,
performance etc. as a response to the mounting center on Corporate Social
Responsibility. One experiential zeal definitions of Corporate Social
Responsibility came after extra attempts to quantify and analyze the term.
These fresh instructions of the idea Corporate Social Responsibility were
reliable with the meanings of Corporate Social Responsibility. Furthermore,
the center of Corporate Social Responsibility has increased a lot in the
previous decade and the speech of Corporate Social Responsibility is more
in use today.

2.2 Impact of Corporate Social Responsibility on Brand

Equity
By-Chaudhuri & Holbrook
Brand fairness has an interior dimension, which is loyalty. According to the
point of view of critics, loyalty has many dissimilar levels. According to the
point of view of old researchers, loyalty that is linked to the behavior of
customers in the marketplace is called behavioral loyalty; behavioral loyalty
can be indicated by the number of frequent procures or, according to the
point of Oliver, the promise to re-buy the product as the first option. The
 highest stage of consciousness is closely connected to the cognitive
loyalty, where attention in the product is the major issue in a known group,
which the customers are reminded of initially. According to cognitive loyalty,
a product should be capable to become the respondents‟ first option and
should be consequently obtained, which is behavioral loyalty. In the point of
view of Chaudhuri & Holbrook (2001) product faithfulness is in a straight
line connected to product cost. In their point of view, the essential point of
faithfulness is to recognize cost quality, the quantity a client will give for the
product in contrast with another product contributing comparable profit.

2.3 UN Global Compact

(UN Global Compact (2010) Ten Principals Published by United Nations.

www.unglobalcompact.org)

The ten principles of UN Global Compact (www.unglobalcompact.org)

gained universal acceptance which elaborated the areas of Environment,
Labor, Human Rights, and Anti-corruption, especially in the industrial
sector. According to UN Global Compact, the origins of these principles are
from;

 The Universal Declaration of Human Rights

 The International Labor Organization's Declaration on Fundamental
Principles and Rights at Work
 The Rio Declaration on Environment and Development
 The United Nations Convention against Corruption
 These principles of UN Global Compact asked global companies to follow,
accept, apply, intact and influence within their spheres in the areas of labor,
human rights, anti-corruption and environment.

Companies must follow the global standards of labor, eliminate child labor
and such other crimes and uphold freedom of association and elimination
of all forced behaviors by the employers. The employees must have the
freedom of leaving or accepting employment anytime. They must not stop
by joining labor unions or claiming their rights. Companies must integrate
with each other in order to abolish child labor and eliminate discrimination
in respect of hiring employees.
Precautionary approach is necessary to face environmental challenges
(Environment; UN Global Compact). Companies must take such measures
to develop environmental standards in order to avoid any operational
inefficiencies, production hazards and pollution.
On 24th June 2004, The UN Global Compact has given another principal to
stop extortion and bribery. The companies must introduce anti-corruption
policies as a part of the first initiative, and join hands with the industry peers
and stakeholders to develop programs.
These principles are interrelated with the CSR practices and create positive
image of companies among all the stakeholders. Employees as well as
customers develop a positive image of the company in their minds, and
ultimately, productivity and revenue streams boost up

2.4 Corporate Social Responsibility in India: An Over

View
 The CSR campaign has been actively supported by the world organizations
like World Bank, UNDP, OECD, European commission and MNCs. Still
today, the practice of CSR remains basically philanthropic but now it has
move on from nation and institution building to community development
with global influences. The Indian Companies Act, 2013 has introduced the
CSR idea to the forefront in the country and through explains the mandate
in promoting greater transparency and disclosure. The Schedule 7 of the
Act listing the CSR activities, suggests the communities to be focal point.
On the other hand, by discussing a company’s relationship to its stake-
holders and integrating CSR into its core operations, the Draft Rules
suggest that CSR needs to go beyond communities and also beyond
philanthropy. It would be quite interesting to observe and study how it
translates into practice at ground level and also how the understanding of
the CSR in India undergoes a change. The recent initiatives of the present
Government at the Centre seems certainly encouraging. It has directed its
public sector undertakings to earmark certain percentage of their annual
budget for the furtherance of the CSR activities. The present paper
highlights the emerging perspectives of Corporate Social Responsibility in
India.

2.5 Impact of Brand Equity on Customer Delight: A Study

of Retail Sector in Kolkata
By- Soma Sinha Roy

Asia Pacific Journal of Research ISSN (Print) 2320, 5504, 2016

 Customer delight has been at the core of any business in the recent past.
Marketers have realized that building long-term relationship with their
customers improves market share and therefore profitability. Smart
marketers emphasize upon establishing emotional value proposition (EVP)
in lieu of unique selling proposition (USP), to sustain in the market. EVP
entails creating and sustaining emotional bond with customers. This
emotional aspect is often referred to as customer delight. A strong
emotional connection helps in cultivating value based offerings in the
market; resulting in strengthened brand equity. Hence, stronger the
association between the customers and the brands, higher is the customer-
based brand equity (CBBE).

2.6 The Effect of Brand Equity on Purchase Intention:

An Empirical Investigation with Special Reference to
Car Owner In West Delhi
By-Gopal Singh Latwal, Dr Sharma

BVIMR Management Edge (Bi-Annual Journal of BVIMR) 10 (1), 2012

Brand equity is a set of brand asset and liability linked to a brand its name
and symbol add to or subtract from the value provided by a product or
service to a firm and/or to the firm’s customer. Strong brand not only
enables marketer to reduce their marketing cost but also helps to charge
premium price for their product. Thus, Brand equity plays very important
role in purchase decision for a particular brand of product.
2.7 Enhancing Customer-Based Brand Equity through
CSR in the Hospitality Sector
Corporate social responsibility is considered an important element in the
development of brand equity. Research in this context is mainly focused on
the relationship between this corporate philosophy and financial
performance. The aim of this research is to explore the impact of socially
responsible aspects on hotel brand equity. To test the proposed model
personal surveys of hotel customers were conducted. A structural equation
model was developed to test the research hypotheses. The findings show
that corporate social responsibility has positive effects on brand image,
perceived quality, brand awareness, and brand loyalty.

2.8 Environmental CSR-Initiatives Influence on Brand

Equity: A Case of Eco-Labeling
By- Rewa Anabtawi, Berivan Amin

In recent years the surrounding world has had an increased interest, focus
and demand for responsibility and sustainability. That is why many
companies and brands have been adopting Corporate Social Responsibility
(CSR) initiatives such as cause related marketing, corporate philanthropy,
manufacturing practices and environmental responsible management in
their firms (Bhattacharya and Sen 2004; Babiaka and Trendafilova 2011).
CSR can be defined as the firms consideration of, and response to, issues
beyond the narrow economic, technical and legal requirements of the firm
(Davis 1973, 312, Bhattacharya and Sen 2004, 13). During the last
decades the discussion of CSR-initiatives have shifted from “why” engaging
in CSR-activities to “what” CSR-activities firms should engage in and” how”
to engage in these CSR-activities (Bhattacharya and Sen 2004; Lai 2010).
Today, many firms are aware of the importance of CSR-initiatives.
Societies all over the world have noticed recently that environmental issues
are increasing steadily due to the huge amounts of environmental pollution
that are produced by the industrial manufacturing (Chen 2008; Mourad and
Ahmed, 2012).

2.9 BRAND EQUITY AND CORPORATE SOCIAL

RESPONSIBILITY–CONCEPTS AND CASES
By-Prabhat Kumar Bhaskar, Kumar Alok Pratap

Empyreal Institute of Higher Education, 2014

Many corporations engage in socially responsible behavior as a part of

their normal business operations. These activities include positive actions
toward the environment, social causes and their communities. Based on
the assumption that consumers are demanding more out of organizations
than high quality products or services with a low price, business firms seek
for other criteria to enhance their consumer’s loyalty. The adoption of the
social identity theory shed the light on how practicing corporate social
responsibility (CSR), will lead to more identification for the firm by
enhancing its identity attractiveness. Moreover, the study showed that CSR
initiatives influence brand equity which plays a crucial role on consumer
loyalty.
 The aims of this study are to investigate: first, the effects of CSR and
corporate reputation on industrial brand equity; second, the effects of CSR,
corporate reputation, and brand equity on brand performance; and third,
the mediating effects of corporate reputation and industrial brand equity on
the relationship between CSR and brand performance.

2.10 Corporate Social Responsibility as a determinant of

market success: An exploratory analysis with
special reference to MNC’s in emerging markets
By-Balachandran
In this article, the author says that Globalization has affect the business so
much the companies are expanding day by day and going globally in
different countries to do their business. The business process has changed
scompeting with each other and trying to gain first mover advantage in
other countries and trying to make their good will and cash them.
Consumers are also try to go for the company product which bears more
socially responsible and are good some customer have negative impact on
the company which are not socially good or responsible.

2.11 How CSR Affects Brand Equity of Indian Firms

Studies in the developed economies report that corporate social

responsibility (CSR) has effect on brand’s performance. However, there is
a dearth of such studies in developing economies like India. Therefore, this
study attempts to examine the nexus of CSR and brand equity (BE) in
 Indian business perspective. For the purpose of this study, questionnaire-
based online survey was conducted to collect the empirical data. Structural
equation modelling (SEM) technique using AMOS 22.0 was utilized to test
structural model. Results indicate that firm’s CSR activities have positive
effect on its BE. However, brand awareness, brand image, brand loyalty
and purchase intention mediate the CSR and BE relationship. This study
adds to the existing CSR literature theoretically and also offers the
managerial implications. The findings of this study would help the
companies to renovate their management strategies from traditional profit
oriented to socially responsible business approach for sustainable business
performance.

2.12 Consumer-Company Identification: A Framework for

Understanding

Consumers’ Relationships with Companies

By- Brown and Dakin

In this article, the author describes that relation of CSR to customer loyalty
and post purchase outcomes that must be positive are the consequences
of the positive evaluation of a company by a customer this also describe by
the Brown and Dakin (1997) and it shows that the customer evaluation of a
company is positive if greater the CSR associations perceived by the
consumer. Researchers have investigated the interface between CSR and
the customer broadly, and as the literature shows, this is a truly complex
matter. Many surveys developed at an international level suggest that a
positive relationship exists between a company’s CSR actions and
consumers‟ reaction to that company and its product. (Bhattacharya, 2003)
RESEARCH METHODOLOGY
By Research methodology, we mean that it is the technique or approach
applied to conduct our research. The key purpose of including the study of
research methodology is to assess its applicability and how it helps to form
a conclusion

RESEARCH THEORY

CSR

BRAND BRAND
ASSOCIATION AWARNESS

PERCEIVED BRAND
QUALITY LOYALTY

OVERALL
EQUITY

The theoretical framework of our research explains a relationship between

CSR, Brand Awareness, Brand Loyalty, Overall Equity, Perceived Quality &
Brand Association and how their subsequent contribution impact Brand
Equity.

RESEARCH APPROACH-

Realist approach- All the data and information that are collected are
purely related to true beliefs.
Positivist Approach- It includes hard and absolute facts and figures about
the research.

Interpretive Approach- It includes getting information about real time data.

In this research we have applied REALIST APPROACH.

AREA OF STUDY-

There are more than 200 companies in India that are actively contributing
to the CSR.As per our Literature Review and Study we have derived a
conclusion that companies basically do CSR in three categories-

1.Environment

2.Employees

3. Communities.

Here, we have provided the list of top companies involved in CSR.

Tata Chemicals-
Tata Chemicals Ltd are committed to serve the national and local deprived
communities, present in their area of operations. Their focus is highlighted
in their initiative programme, BEACON, further declassified as:
• Blossom: Promotion and development of native handicrafts •Enhance:
Overall enhancing the quality of life •Aspire: Education and vocational skill
development •Conserve: Investment in Bio-diversity, natural resource and
climate change management leading to increase in environment
sustainability •Nurture: Health care, sanitary solutions and safe drinking
water

Ambuja-
Committed to providing quality lives to the unprivileged, Ambuja Cement
emphasizes on utilizing the hidden talent of people. It also focuses on
generating goodwill amongst its stakeholders through their community
initiatives.
Infosys-
As a leading software company, Infosys provides programs of quality
education to its citizens, increasing their IT skills and proficiency. They are
sensitive towards vigilant utilization of natural resources, and believe that
the use of energy has a direct impact on the environment.
Mahindra & Mahindra
Always supporting the enhancement of the quality of life, education and
health, M&M affirm their commitment to the welfare of community,
employees and its stakeholders. One of their recent CSR initiative, “Rise
for good”, supports youth, girls and farmers. The company is committed to
run their business with integrity and responsibility.

ITC
Crafting its CSR strategies towards societal sustainability, ITC creates a
balance between its dual mission of providing stakeholder and social value
enhancement. Some of its noticeable efforts are in agriculture sector of the
country.
Tata motors
Under its corporate social responsibility (CSR) programme to promote
Health, Education, Employability and the Environment, Tata Motors has
reinforced its commitment towards nation building, touching lives of over 7
lakh people, of which nearly 40% belong to SC and ST communities. The
four key thrust areas by the company’s CSR interventions are:
3. KAUSHALYA: Enhancing programmes on Employability
4. VASUNDHARA: Nurturing sustainability through environmental
programmes

DATA COLLECTION -
Data was collected from 68 consumers through administration of a Scaled
Questionnaire. We used this questionnaire of 20 questions with multiple
choices with regards to study of the relation of various variables to CSR.

SAMPLE SIZE-
6 Companies
60 Consumers/Customers
SAMPLING TECHNIQUE-
Convenient sampling by circulation of Google forms thrugh various social
media platforms was used because of time and budget constraints.

RESULTS OBSERVED –
EXPLANATION
These are the frequencies of different categories used in the data
analysis.
 Total sample size was 68 consumers who filled the questionnaires.
The analysis was conducted from both male and female in which
total no of male respondents were 41 and female respondents were 26
and one didn’t prefer to say out of 68
We took 6 current companies who were involved in the CSR
activities. The total respondents who selected Tata Chemicals were
12, Ambuja 9, Mahindra and Mahindra 10,ITC 17,Tata Motors 9 and
Infosys 11 respondents.
ANALYSIS OF RESEARCH RESULTS-

USAGE OF STATISTICAL TOOLS-

The results obtained were analyzed by under listed Statistical Tools-
 MEAN
 MEDIAN
 STANDARD DEVIATION
 REGRESSION
 CORRELATION

Correlation Mean Standard Pearson Pearson

Percentage Correlation correlation
Deviation
on CSR on B. E.
CSR 23.795 0.58 0.6031

Brand 54.933 0.97 0.6031

Equity

INTERPRETATION:

Correlation examines the relationship between two variables.

According to the above mentioned results CSR and Brand Equity are
highly correlated.
REGRESSION BETWEEN CSR AND OVERALL BRAND EQUITY
Regression R R*R F Sig.
Overall 0.5929 0.3516 54.231 0.007
Brand
Equity
Areas of Application of result findings:

1. These findings of the result will help companies to consider in

maximizing their CSR Sectors,initiatives and build brand equity and invites
to apply to both private and public
2. Building the capacity of their institution for Corporate Social
Responsibility
3. Conduct “properly structured, ongoing stakeholder dialogue” as part of
developing a Corporate Social Responsibility strategy.
4.To make Corporate Social Responsibility into core of company business
model.
5. Build stronger partnerships with NGOs, with local communities, and “with
any stakeholder who can add value to the business”
6. Involve stakeholders in dialogues to create innovative strategies and
projects “to create productive change”
7. Find ways to create new relationships with suppliers based on shared
visions about Corporate Social Responsibility.
8. Establish policies and systems to attract and retention of talent for the
long-term success of the business.
9. Develop community relationship alongside business activities in order to
have higher brand loyalty and brand awareness.
10. Engage in better non-financial risk management

Discussion and Conclusion

5.2 DISCUSSION & CONCLUSION
The review of literature on the impact of Corporate Social Responsibility on
Brand Equity showed that the results vary from person to person. Although
many studies supported the fact that relationship existed but the
relationship was not directly interlinked with Corporate SocialResponsibility
and Brand Equity. We have identified five categories that influence or
impact consumer’s perception of Corporate Social Responsibility and
Brand Equity. These categories are:
 Brand Loyalty
Brand Awareness
Brand Association
Perceived Quality
These all add upto contribute to the Brand Equity
In our research, we tested our findings collected by questionnaire method
with MS- Excel to check the Correlation and Regression between
Corporate Social Responsibility and Brand Equity. Although Corporate
Social Responsibility does not have a direct impact on Brand Equity but
they are somehow, interlinked with each other.
The regression analysis predicts Overall Brand Equity very well with the
value of 0.514 (R).
R square has a value of 0.264 which means 26% of change in Brand equity
comes only through Corporate Social Responsibility. The p-value or the sig
value (.000) is much less

The interlinkage level between Corporate Social Responsibility and Brand

Equity is 100%significant.

Our research is a small attempt to study tgis relation that is already existent
in our literatures. We have indicated in our theoretical framework where
Corporate Social Responsibility has a positive, neutral or negative impact
on Brand Equity. But our research shows that these independent variables
have an impact on Brand Equity as well as on Corporate Social
esponsibility. This leads us to reject our null hypothesis
i.e.
H0: There is no impact of Corporate Social Responsibility on Brand Equity
Our research suggests that companies should attempt to go for Corporate
Social Responsibility activities if they would like to benefit of their brand
image. Those companies who are not involved in the Corporate Social
Responsibility activities can change their brand equity or brand image only
if they start working on the Corporate Social Responsibility concept.
The companies should refer to the applications of the research results to
apply CSR to improve their BRAND IMAGE
This is clear motivation for companies to invest on CSR activities.

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ACKNOWLEDGEMENT

We would like to extend our heartiest gratitude to everyone who helped in

the successful completion of our research project. We would like to
especially thank the respondents who spared their time to fill out the form
which helped us to create a result. We would especially thank Mr. Kanwaljit
sir, assistant professor Ramanujan College for his constant guidance and
inputs throughout. We would also thank our respective families and friends
for their moral support and help.
Thank you!