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Purpose Considering the influence of corporate social responsibility (CSR) drivers in corporate behavior and, ultimately, in business and society relationships, this study aims to investigate the CSR drivers in Nepal. Design/methodology/approach The study employs an exploratory qualitative research design. Data were collected through semi-structured interviews with 22 executives and managers of listed companies in Nepal. A reflexive thematic analysis approach was used to analyze the data. Findings Strategic imperatives, coercive factors and moral considerations characterize the major drivers of firms’ CSR practices in Nepal. Specifically, a firm’s reputation, publicity, legal requirements, enlightened shared values and cultural tradition are the main drivers of CSR. Strategic imperatives are the main drivers of CSR for banking and financial institutions, whereas external institutional pressures are the main drivers for other sectors. Practical implications Managers can make institutional arrangements for CSR to fulfill their strategic needs and better respond to formal (e.g. legal requirements) and informal (e.g. cultural tradition) institutional factors. Policymakers can incorporate fiscal-economic instruments, such as CSR awards, in CSR-related legal provisions to simultaneously fulfill the strategic needs of the business and social goals of the government. Originality/value This study uncovers vivid CSR drivers in a distinct socioeconomic context of Nepal. Likewise, this is perhaps the first research regarding the drivers of CSR, exploring the views from different managerial levels and covering diverse industry sectors in the least developed country contexts like Nepal.