scholarly journals STATE REGULATION OF THE DEVELOPMENT OF CORPORATE SOCIAL RESPONSIBILITY IN THE TRANSFORMATION TYPE COUNTRIES IN EASTERN EUROPE

2020 ◽  
Vol 5 (5) ◽  
pp. 121
Author(s):  
Ivan Parubchak ◽  
Nadiia Radukh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Eastern Europe ◽  
Socially Responsible Investing ◽  
State Regulation ◽  
Socially Responsible ◽  
Responsible Investing ◽  
The World ◽  
Transformation Type ◽  
Corporate Social

The purpose of this research is to investigate the processes of formation of corporate social responsibility in countries of transformation type in Eastern Europe and to study the perspectives of development of socially responsible investing based on studying the world experience in the field of corporate responsibility and the practices of its realization by economic entities in the world. The theoretical and methodological basis of the research is the dialectical method of cognition of the processes of formation of corporate social responsibility in transformation societies, using the experience of the foreign community in similar processes and the possibility of applying individual practices in domestic business. The following scientific methods were used in the research: abstract-logical, in particular, its methods of generalization, analogy, analysis and synthesis, induction and deduction for the formulation of theoretical generalizations of research results, formulation of conclusions and suggestions. Main objects of the study are: theoretical bases of formation and realization of mechanisms of state regulation of corporate social responsibility and socially responsible investing in the world and opportunities to apply their experience in the countries of Eastern Europe; determining the current level of corporate social responsibility at enterprises and organizations and assessing the prospects for their development and influence on socio-economic processes. Practical implications. The stakeholder theory is considered, which reveals the essence of corporate social responsibility in the process of satisfying interests and requirements of various counterparties that may affect the ultimate financial results of the enterprise. It is determined that the main causes of state regulation of corporate social responsibility are a moral obligation, sustainability, and reputation. Corporate social responsibility is an effective tool for enterprise development, as well as for the development of the process of state regulation and constructive dialogue with different social categories that enhances the investment attractiveness of the enterprise and strengthens its reputation, promotes effective labour relations and enhances productivity, supports the marketing policy and trust of the target audience by forming a positive opinion about products, works or services of the enterprise. Modern strategies on the basis of which companies perform the formation of their investment portfolios are considered (sustainable investment strategy, norms-based screening and exclusion of holding from investment universe, integration of ESG factors in financial analysis, impact investments, engagement and voting on sustainability matters). The issue of the undeveloped practice of submitting social reports and difficult public access to them by stakeholders is considered. A model for analysing the prospects of corporate social responsibility development at enterprises is proposed; corporate social responsibility strategy provides for the fulfilment of economic, social, and environmental goals for the successful implementation of corporate social responsibility and socially responsible investment initiatives.

Accounting challenges for sustainability and innovations

2021 ◽  
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research And Development ◽  
Financial Reporting ◽  
Socially Responsible Investing ◽  
Integrated Reporting ◽  
Socially Responsible ◽  
Responsible Investing ◽  
Socially Responsible Investments ◽  
Corporate Social

The aim of this e-book is to present the most important aspects related to sustainability, corporate social responsibility and innovation from an accounting perspective. The book contains parts that deal with accounting aspects of sustainability and innovations. The book consists of ten chapters devoted to relevant and topical issues of sustainability and innovations. Chapter 1 Sustainability and Corporate Social Responsibility in Accounting is an introduction to further considerations and deals with the essence of sustainable development, corporate social responsibility and their recognition in accounting. Chapter 2 Social Responsibility Reporting Standards presents the most important reporting guidance such as GRI, OECD, United Nations Global Compact, International Organization for Standardization. Chapter 3 Narrative reporting focuses on descriptions and explanations in accounting reports. The chapter presents the links between accounting and language, the development of accounting narratives and the factors determining the use of narratives. Chapter 4 Integrated reporting discusses the motivations, objectives and the process of preparing an integrated report. Integrated reporting can prove to be an effective tool for businesses looking to shift their reporting focus from annual financial performance to long-term shareholder value creation. Chapter 5 Non-financial reporting in selected European countries presents the experience of Croatia, the Czech Republic and Poland in the field of preparing non-financial reports. A significant contribution to promoting the importance of sustainability reporting was made by the Non-Financial Reporting Directive (2014/95/EU). Chapter 6, Socially Responsible Investments discusses the essence of socially responsible investing and socially responsible investment. Socially responsible investing (SRI) is a decision making process concerning the allocation of free financial resources, where the investor aims at maximization of profit and minimization of risk on one part and includes the socio-ethical and environmental-ecological considerations on the other. Chapter 7 External costs – accounting perspective describes costs connected with using goods such as air, soil, water, silence or the aesthetics of the surroundings. One of the biggest problems for accounting in the future will be measuring the volume of using these goods or measuring the size of reduction in the quality of public goods suffered and assigning the decrease to particular companies. Chapter 8 Derivatives in accounting is devoted to financial instruments and presents two different approaches to accounting of derivatives: general model and hedge accounting. Derivatives are used to protect the enterprise against financial risk related to changes in prices on the markets, changes in the exchange rate or changes in interest rates, as well as for commercial purposes. Chapter 9 Costs of Research and Development shows the company's activity in the field of research and development and the related costs. R&D constitute an increasingly important element of the functioning of enterprises. Chapter 10 Cryptoassets – Nature, Valuation and Disclosures in Accounting focuses on cryptocurrencies (e.g. Bitcoin, Ethereum etc.) and digital tokens which are specific rights or values representatives. As a result of the transformation on the financial market, we are currently dealing with cryptoassets, which are a creation of blockchain technologies and the changing habits of the digital society. One of areas that there are a lot of doubts regarding these new technological solutions is accounting.

scholarly journals Corporate social responsibility and firm performance in South Africa

2014 ◽  
Vol 45 (1) ◽  
pp. 1-12 ◽  
Author(s):  
K. Demetriades ◽  
C. J. Auret
Keyword(s):  
Regression Analysis ◽  
Corporate Social Responsibility ◽  
Firm Performance ◽  
Social Responsibility ◽  
Social Performance ◽  
Sample Period ◽  
Socially Responsible ◽  
Responsible Investing ◽  
The Individual ◽  
Corporate Social

Corporate Social Responsibility (CSR) can be viewed from two different perspectives: that of the business; and that of the individual investor (Socially Responsible Investing, SRI). In this study regression analysis as well as an event study was used to examine the link between CSR and firm performance. The results suggested that in the short-term there were no significant price effects on the SRI shares. In contrast, the returns of SRI portfolios over the sample period seemed to be superior to those of conventional firms. The regression analysis found that generally the SRI coefficients were insignificant; however using one of the models during the fifteen year sample period, SRI constituents attained a ROE that was 11.18% higher (as well as a ROA that was 1.824% lower) than conventional firms. When the period was restricted to 2004-2009 it was found that social performance was positively - and sometimes significantly - correlated with ROE.

scholarly journals Features of corporate social responsibility of business in Ukraine

2020 ◽  
pp. 115-127
Author(s):  
Alla Zlenko ◽  
Оlena Isaikina
Keyword(s):  
Sustainable Development ◽  
Human Capital ◽  
Corporate Social Responsibility ◽  
Civil Society ◽  
Social Responsibility ◽  
The State ◽  
Social Resource ◽  
Socially Responsible ◽  
The World ◽  
Corporate Social

Relevance of the research topic. In the conditions of systemic restructuring of the economy of Ukraine in the direction of its adaptation to world standards, one of the integral components of the successful functioning of modern business is the development of a strategy of corporate social responsibility. Today, sustainable economic development is not determined by the factor of availability of raw materials or markets, but the opportunity for companies to join the market of highly skilled labor, scientific inventions and the latest technologies. The problems of employment, social instability, and deteriorating environment are becoming more acute and urgent in the world. All this necessitates the formation of an innovative model of development and principles of corporate social responsibility, which is becoming one of the most important areas of a market economy. Formulation of the problem. It is theoretically proven and confirmed by the practice of the world's leading companies that social responsibility can and should be considered as an important social resource of the organization, able to form concrete benefits, ensure sustainable development, adequately respond to social challenges (both internal and external), turning the latter into opportunities. It should be emphasized that social responsibility appears as an important social resource, regardless of the concept of social responsibility the company adheres to. Analysis of recent research and publications. Theoretical and methodological aspects of the formation and development of social responsibility of business are embedded in the studies of the following leading foreign scientists: A. Berle, G. Bowen, M. Velazquez, A. Carroll, F. Kotler, G. Minz, J. Rawls, K. Smith, M Friedman et al. Of particular interest in studying this problem are the works of modern domestic scientists: O. Danylenko, V. Yevtushenko, A. Kolota, N. Kyryliuk, M. Kuzhelev, V. Mamontova, O. Sheremeta and others. Selection of unexplored parts of the general problem. The issue of the effectiveness of the functioning of corporate social responsibility in Ukrainian business practice and the formation of the domestic model of CSR remains insufficiently studied in the domestic scientific environment. Problem statement, purpose of research. The key direction of the world community today is the development of human capital as the basis of the general welfare of the state. One of the conditions for the implementation of the concept of human development and human capital is the introduction and compliance with the basics of corporate social responsibility of business (CSR). The purpose of the work is a comprehensive analysis of the development of CSR in Ukraine. Research methodology. During the writing of the article the methods of analysis and synthesis, system approach, statistical analysis, generalization and structuring were used. Presentation of the main research material. The institution of socially responsible business is typical of most countries with economies based on market values, long-standing democratic traditions, and a developed civil society. In modern conditions in different countries, the participation of business in solving social problems is either strictly regulated under current commercial, tax, labor, environmental legislation or carried out independently under the influence of specially established incentives and benefits. In Ukraine, this process is in the initial stages of its development and takes place in a dominant position of the state, extremely weak development of civil society institutions and oligarchic business development. Field of application of results. The results of the study can be applied in the process of forming a strategy of corporate social responsibility of a modern enterprise. Conclusions in accordance with the article. Corporate social responsibility in the developed world has long been part of society. Today, domestic business leaders are joining the global movement for socially responsible business. In order for funds allocated for social initiatives to bring sustainable results and work on the image of the business, companies must move to building these activities on a systemic basis in accordance with the strategy. It is here that broad prospects open up for the joint efforts of companies, civil society organizations, the media and the state. The immediate business benefits of CSR are the creation of a stable business environment, reduced operational risks, increased financial performance and sales, increased productivity, reduced recruitment costs, market expansion and, consequently, increased market value in the future. The interaction of political, social and economic actors, based on the principles of social partnership, allows to ensure the stable progressive development of the state. With the increasing importance of non-financial factors of sustainable development (social stability, environmental security, etc.), the practical and theoretical aspects of social responsibility are updated.

scholarly journals Corporate social responsibility in marketing researches: Literature review

2014 ◽  
Vol 11 (4) ◽  
pp. 499-503 ◽  
Author(s):  
Serhii Illiashenko ◽  
Galina Peresadko ◽  
Olga Pidlisna ◽  
Evgeniy Kovalenko
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Marketing Mix ◽  
Marketing Activity ◽  
World Economic Forum ◽  
Socially Responsible ◽  
The Social ◽  
The World ◽  
World Economic ◽  
Corporate Social

The meaning of corporate social responsibility and the rating results of the Global competitive index 2011- 2012 of the World economic forum are given in the article. The emphasizing of society responsibility and responsibility for marketing activity and its influence on the society are researched in the work. The socially responsible marketing of the company in the profile of marketing-mix elements are proposed. In the article is determined that implementation of the social responsibility must take place at three levels: primary, corporate and highest.

scholarly journals RESPONSABILIDADE SOCIAL CORPORATIVA NA PRODUÇÃO DE CACAU: ANÁLISE DAS AÇÕES DA INDÚSTRIA DE CHOCOLATE

2018 ◽  
Vol 15 (1) ◽  
pp. 183
Author(s):  
Eduardo Cesar Silva ◽  
Angélica Da Silva Azevedo ◽  
Marina De Barros ◽  
Nilmar Diogo Dos Reis
Keyword(s):  
Corporate Social Responsibility ◽  
Rural Communities ◽  
Social Responsibility ◽  
Price Volatility ◽  
Socially Responsible ◽  
Income Source ◽  
Pests And Diseases ◽  
The World ◽  
Per Capita ◽  
Corporate Social

O cultivo do cacau é uma importante fonte de renda para milhões de pequenos produtores ao redor mundo, a maioria em países com baixo PIB per capita e problemas de infraestrutura. Além disso, a cacauicultura enfrenta problemas relacionados à volatilidade dos preços, baixa produtividade, condições precárias de trabalho e incidência de pragas e doenças. Nesse cenário, ações socialmente responsáveis realizadas pelas companhias de chocolate podem promover melhorias no desenvolvimento social e econômico das comunidades. Com isso, o objetivo do presente estudo foi identificar as práticas de Responsabilidade Social Corporativa (RSC) empregadas pelas seis maiores fabricantes de chocolate do mundo, mais especificamente, aquelas que afetam diretamente os produtores. A RSC tem como intuito promover relações éticas, responsáveis e solidárias entre as empresas e a sociedade. Os resultados mostram que todas as empresas analisadas investem em programas que beneficiam as comunidades de produtores e possuem estratégias para a aquisição de cacau sustentável. Na cadeia do cacau, tais ações são necessárias por conta das dificuldades enfrentadas pelos produtores.Palavras-chave: Responsabilidade social corporativa. Certificação. Agricultores. Cacau.ABSTRACTCocoa cultivation is an important income source for millions of small farmers around the world, most of them in countries with low per capita GDP and infrastructure problems. In addition, cocoa cultivation faces problems related to price volatility, low productivity, poor working conditions and the incidence of pests and diseases. In this context, socially responsible actions undertaken by chocolate companies can generate improvements in the social and economic development of rural communities. The aim of this paper was to identify the Corporate Social Responsibility (CSR) practices employed by the six largest chocolate manufacturers in the world, specifically those that directly affect cocoa farmers. CSR aims to promote ethical, responsible and supportive relationships between companies and society. The results show that all the companies analyzed invest in programs that benefit the communities of producers and have strategies for the acquisition of sustainable cocoa. Such actions are especially necessary in the cocoa chain because of the difficulties faced by producers.Keywords: Corporate social responsibility. Certification. Farmers. Cocoa.

scholarly journals Level of compliance with the requirements of corporate social responsibility in Czech enterprises

2018 ◽  
Vol 183 ◽  
pp. 01013
Author(s):  
Zdenka Hofbruckerová ◽  
Petra Halfarová ◽  
Andrea Uherková
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Aspects ◽  
Socially Responsible ◽  
Core Business ◽  
The World ◽  
Practical Life ◽  
Basic Features ◽  
Corporate Social ◽  
A Company

Corporate Social Responsibility (CSR) concept is focused on understanding and managing the impacts a company has on the world around it, and doing so as a part of core business activities. CSR contains three parts: Profit (economical part), People (social aspects - employees and stakeholders) and Planet (environment). The papers deal with basic features, objectives and outputs of CSR concept in practical life of Czech enterprises. The main aim of the research was to define if organizations referring themselves as socially responsible do implement activities of all the three pillars equally and integrate them into their day-to-day activities.

scholarly journals Corporate social responsibility activities conducted by football clubs playing in the Polish top division – PKO Ekstraklasa

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Rafał Wysoczański-Minkowicz
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Bonds ◽  
Socially Responsible ◽  
Football Clubs ◽  
The World ◽  
Corporate Social

Abstract The main goal of this paper is to analyze how football clubs playing in the Polish top division approach the issue of corporate social responsibility (CSR). Professionalization processes in football clubs all over the world have led to the situation in which they are treated as companies and must follow the same rules. The goals of companies from all industries are no longer only about generating financial profits; they also want to meet the expectations of their shareholders, which can be done through CSR activities. Strong social bonds between football clubs and local societies indicate the CSR approach has massive potential for football clubs. The aim of this paper is to describe how PKO Ekstraklasa are approaching the concept of CSR and to answer the following questions: “To what extent were clubs playing in PKO Ekstraklasa during the 2020/2021 season active in the area of CSR? To what groups did they direct their activities?” The analysis was conducted based on data published by clubs on their websites. The results of the analysis show that PKO Ekstraklasa clubs are active in the field of CSR. However, they need to improve significantly in terms of the regularity of their activities and reporting in order to become truly socially responsible.

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