Evaluating the Impact of Sustainable Finance on CSR and Public Awareness: A Study Across India, the UAE, and Oman
DOI:
https://doi.org/10.29070/8yww3m17Keywords:
Sustainable Finance, Economic Growth, Corporate Social Responsibility (CSR), Public AwarenessAbstract
This research employs a quantitative method to examine the influence of sustainable financing on corporate social responsibility (CSR) initiatives and public awareness in India, the UAE, and Oman. A set of standardized questionnaires including Likert scale questions was issued to a total of 280 participants working in the financial sector. The purpose of these questionnaires was to assess their level of involvement in sustainable financing, corporate social responsibility (CSR) efforts, economic development, and their understanding of sustainability in the public domain. Statistical techniques, such as regression as well as moderation analysis, are used. The research seeks to evaluate the effects of sustainable financing on corporate social responsibility (CSR), its impact on public awareness, the function of public awareness as a mediator, and the influence of economic development as a moderator. The results of the Structural Equation Modeling (SEM) analysis indicate that there is a strong fit between the model and the data for the relationship between sustainable finance and corporate social responsibility (CSR). The fit indices, including χ2=50.400, df=26, CMIN/DF=1.938, GFI=0.966, RFI=0.948, NFI=0.970, IFI=0.985, CFI=0.985, RMR=0.030, and RMSEA=0.058, all suggest a good fit. Similarly, the analysis also reveals a strong fit between sustainable finance and public awareness, with χ2=42.290, df=25, CMIN/DF=1.692, GFI=0.971, RFI=0.953, NFI=0.974, IFI=0.989, CFI=0.989, RMR=0.029, and RMSEA=0.050. The mediation analysis provides evidence that public knowledge plays a vital role in connecting sustainable finance and corporate social responsibility (p=.000). Nevertheless, the moderation study indicates that there is no substantial moderating of this association by economic growth (interaction path estimate 0.038, p=0.241). The results emphasize the need of implementing policies that support sustainable financing and increase public knowledge to improve corporate social responsibility (CSR) outcomes in the examined areas.
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