Is Corporate Social Responsibilities Hypocritical?

Corporate Social Responsibility (CSR) has receives much limelight from the business community, society, academics and law makers for the past several decades. Businesses have increasingly willing to spend on CSR. The number of CSR activities has mounted considerably. Activities ranged from simple philanthropy aid to expensive scientific researches. CSR is a costly venture, often with little or no financial contribution to the company’s profit and loss. If that is the case, why bother doing it ? Is there other hidden advantage ?