📄 Abstract
Capital budgeting, which is a key part of making financial decisions, has always been used to look at investment chances with the goal of increasing shareholder value. However, in today’s business world, companies are facing more pressure to consider wider social, environmental, and ethical issues. This review looks at how strategic capital budgeting and Corporate Social Responsibility (CSR) are coming together, showing how the way we evaluate investments is changing to focus on sustainability. The discussion brings together recent research to explain how methods like sustainability-adjusted net present value (NPV), real options analysis, social return on investment (SROI), and multi-criteria decision-making (MCDM) include non-financial factors when deciding where to put money. The paper pays special attention to the challenges of measuring CSR outcomes—like reputation, fairness, and the ability of the environment to recover—using traditional financial measures. It also talks about the conflict between making quick profits and aiming for long-term sustainability. The review highlights how the expectations of stakeholders, changes in company governance, and new rules are pushing businesses to include CSR in their investment choices. By looking closely at these changes, the paper shows that putting CSR into capital budgeting isn’t just about doing the right thing—it’s also a smart way to build resilience, stay competitive, and create lasting value.
📚 How to Cite:
Mr.Amiyaranjan Swain , Mr.Prasan Dash , STRATEGIC CAPITAL BUDGETING AND CORPORATE SOCIAL RESPONSIBILITY: A COMPREHENSIVE REVIEW , Volume 12 , Issue 6, June 2026, EPRA International Journal of Multidisciplinary Research (IJMR) , Pages: 74 - 80 , DOI: https://doi.org/10.36713/epra28177