Impact of moral and exchange capital on media favourability of financial companies in India

Purpose The purpose of this study is to illuminate the influence of institutional and transactional corporate social responsibility (CSR) on media sentiments in financial companies in India. This study is conducted to understand how different CSR strategies impact media perceptions, influencing the reputation and public image of financial companies in India. Design/methodology/approach This study examines the data of 56 National Stock Exchange-listed financial companies for eight years of data from 2014–2015 to 2021–2022. Panel data regression were used to analyse the data; fixed and random effect models were chosen based on the Hausman test results. Findings Financial companies’ moral and exchange capital negatively impact the media’s favourability of financial companies in India. Diagnostic tests like autocorrelation and heteroscedasticity are also conducted to check the effectiveness of research models. Originality/value Although prior research has examined the effect of CSR on media sentiments, little is known about the impact of moral capital and exchange capital on media favourability of financial companies in India.