“The study affirmed that there is a positive correlation between CSR expenditure on alleviating poverty and the implied cost of equity (CoE) for the Indian companies.”

[COMMENTARY] The Indian government mandates CSR spending by many companies. However, unlike in the West, Indian CSR spending is commonly directed towards charities that help alleviate poverty. I have not seen any similar evidence from Western investors that their CSR spending leads to low investor confidence.
Mandatory CSR spending by [Indian] firms can lead to low investor confidence: Study, by Press Trust of India New Delhi, January 4, 2026, Business Standard, India.