Clarkson, (1995) and Waddock and Graves, (1997) believe that satisfying the interest of stakeholders (shareholders, employees, suppliers, community, environment and so on) and being accountable to them may actually have a positive impact on all firm dimensions, particularly financial performance. Positive reputations have often been linked to positive financial returns. Roberts and Dowling, (2002); Fombrun, Gardberg and Barnett (2000); Porter and Van Der Linde (1995) and Spicer (1978), posit that CSR initiatives can lead to reputation advantage as improvements in invested trust, new market opportunities and positive reactions of capital market would enhance organisation‟s financial performance.