As discussed above, managers play a crucial role in shaping the activities of the company. Thus to determine the nature of CSR and corporate governance practices being implemented by the company, primary research methods should focus on interviewing managers to determine the extent of their seriousness and commitment towards these activities. Moreover, information about these are also contained in the press releases made by the company along with the annual reports, which indicate the levels of transparency in the financial reporting activities of the company as well as its activities to discharge its CSR responsibilities. A research hypothesis can pertain to determination of whether any difference in the approach to these activities is observed, as companies mature along the industry life cycle, by collecting primary and secondary data on the same and analyzing the differences between the same. Another research area can be the impact of these ethical and social responsibility policies on the profitability of the company. Research can be conducted to determine whether companies implementing these measures have higher profitability and return ratios than those, which do not implement these practices seriously. Moreover, the effects of corporate governance and CSR practices can also be analyzed in isolation to determine the relative importance of the two.