Flávia Cavazotte at
Flávia Cavazotte at.el., (2016), researched ”how corporate social responsibility affects the financial performance of companies”. The investigation concentrated on internal corporate social responsibility such as investments on workers. The study collected data about financial information from those companies who listed in the São Paulo Stock Exchange for period between 2001 to 2007. Two-Stage Least Squares equation model is utilized to reduce reverse causality and endogeneity issues. The findings of the study showed that internal corporate social responsibility (I-CSR) associated with organizational performance after one or two years of the investments. Corporate expenses such as health care, employee education, pension plan etc. all had positive impact on profit after one or two years of investment in such ventures.