| Title |
An Assessment Of Corporate Social Responsibility Of Companies Based On National And International Indices |
| ID_Doc |
66432 |
| Authors |
Kulinich, T; Zvonar, V; Naidonova, N |
| Title |
An Assessment Of Corporate Social Responsibility Of Companies Based On National And International Indices |
| Year |
2021 |
| Published |
Ad Alta-Journal Of Interdisciplinary Research, 11, 2 |
| DOI |
|
| Abstract |
The global economy has put forward some new requirements for doing business and the business environment itself. The central element of the new corporate management system is its socially-oriented component, which is already a measure of performance and indicates the priority of the social component in different levels of global environment relationships. The social-ecological orientation of the modern international economy determines the priority of all sectors - from production to final consumption. This research aims to analyze the assessment of corporate social responsibility of companies based on national and international indices. Research methods: systematization; synthesis of information; modeling the essence of social responsibility. Results. The conducted research gave a brief character of the corporate social responsibility development and indicated the conceptual approaches in the assessment system of companies' corporate social responsibility. It was noted that the assessment of corporate social responsibility is aligned with the priorities of the economy phase. Nowadays market economy dominates. Therefore, the priority measure of the economic activity of firms is economic indicators of profitability. Consequently, the assessment of corporate social responsibility of companies is carried out mainly based on stock indices. The modeling of the system of corporatesocial relations also determines the methodology for assessing the corporate social responsibility of companies. Nowadays, the modeling of corporate social responsibility is also focused on the business environment of companies, and their assessment already takes into account non-financial relations as well. That is why the assessment system is introduced because of non-financial indices. For countries where the stock market is underdeveloped and, large companies are not powerful in the international market, their assessment of corporate social responsibility is done through ratings determined by non-financial reports. It is proved that the assessment of corporate social responsibility considers only indirectly the basic human needs. Thus, the key factors directly determining the state of companies' social responsibility to people regardless of religion, race, and financial status are noted. By this priority, modern business is not socially responsible to people of the Earth. It is indicated that the assessment of corporate social responsibility can only be made because of quantitative indicators (reduction in the number of hungry people, the area of reforestation per person, receiving electricity at low rates, etc.). Such an assessment is possible only if full education is provided to all inhabitants of the planet and, first of all, to children in the study of nano- and pico-technologies. The results of the research can be used for the formation of national policies in the process of forming the criteria for assessing corporate social responsibility and developing strategic programs for the development of the socio-economic policy of the state or a regional interstate association. Such an approach points to further research directions of the institute of corporate social responsibility research. |
| Author Keywords |
corporate social responsibility; standards of corporate social responsibility; models of corporate social responsibility; stock and non-stock indices; basic factors of social responsibility (knowledge and realized innovations); economics of social guarantee |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Emerging Sources Citation Index (ESCI) |
| EID |
WOS:000741714900033 |
| WoS Category |
Multidisciplinary Sciences |
| Research Area |
Science & Technology - Other Topics |
| PDF |
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