Corporate Social Responsibility and Welfare Analysis: A Review from Economics Perspective

This study attempted to analyse the processes by examining the relationships between corporate
social responsibilities (CSR), households, and social welfare in economic fields, using existing
theory to evaluate how CSR provides financial benefits to businesses. CSR contributes in the
areas of social, economic, political, and cultural enhancement to emphasise welfare. The
corporate sector has used a broader context to boost economic and social development and
establish a standard of living for every citizen. This study contributes to a better understanding
of CSR concepts by focusing on social welfare. However, CSR has significance for national
development due to its focus on research and development. The natural point of CSR supports
attempts to limit the establishment's environmental consequences; on the other hand, CSR has
played an important role in the recovery from the economic crisis. The theoretical contribution
of this study indicates business theories related to society and business ethics. Existing literature
has benefited through the enhancement of business ethics, business strategies, business
communications, and interaction with government national policies.