Corporate Social Responsibility (CSR) during COVID-19 Pandemic : The Case of Listed Companies on Colombo Stock Exchange in Sri Lanka

Corporate social responsibility is one of the most successful tools of the companies to sustain in the competitive environment. The impact of COVID-19 requires the firms to face the deathly pandemic that we have not before seen. Its leads to lots of changes on the CSR practices of the firms During the COVID-19 pandemic. It is upon this premise that the objective of this study is to analyze the involvement of well-capitalized listed Sri Lankan companies on CSE have shown during the hardest moments of the epidemic and to determine the objectives of these firms have pursued with them. The data were collected from the news section of the top 100 well-capitalized company’s web sites and the content analysis method was used to validate them. The results show that several firms have shown a great commitment to society developing actions that alleviate the impact of the COVID-19 like other firm and bodies have developed several strategies with different objectives. Furthermore, their commitment shown basic three objectives, those are namely protecting their shareholders/ investors interest, wellbeing to Sri Lankan Society and philanthropist actions with commercial interest