Studies conducted by various researchers and scholars on the impact of corporate social responsibility on financial performance reveal conflicting results with others citing negative, positive and neutral impact of CSR on the financial performance of companies. Mwangi (2011) studied the relationship between CSR and financial performance of companies listed on the NSE. The results of the analysis conclude that there has been an upward trend in the performance of companies listed on the NSE, as well as an upward trend in the amount of money invested in corporate social practices. This leaves managers with crucial decisions to make, in particular about how much a company should invest in CSR without compromising the returns of stakeholders and even more so shareholders and whether the investment in CSR has any impact on the financial performance of the company. (Abagail & Donald Duck ,