Social responsibility in pandemic and its financial impacts: insights from COVID-19 literature

Business corporations have emerged as good Samaritans by pulling society from the dusk of the pandemic. A major strand of researchers examined the impact of such socially responsible activities on a corporate firm's performance (CFP) and risk. The pandemic has raised the CSR types and levels in society; hence, there is a need for a study that presents the state of the scholarly work on CSR-CFP. Therefore, this study adopted the structured review methodology and keywords analysis to explore the publications. After a thorough review of articles, we found that initially, companies have undertaken the majority of the CSR activities for internal stakeholders such as employees, and after that, for the community. Overall, most of the studies have depicted a positive impact of CSR on firm performance in the short term. CSR firms were more resilient to COVID-19 risk. The study concludes with future gaps and findings.