N. Grazhevska, ORCID iD 0000-0003-2549-8055, Doctor of Sciences (Economics), Professor Taras Shevchenko National University of Kyiv, Kyiv, Ukraine, A. Mostepaniuk, ORCID iD 0000-0001-5327-2534, PhD in Economics, Associate Professor Girne American University, Turkish Republic of Northern Cyprus CORPORATE SOCIAL RESPONSIBILITY AS A FACTOR OF ACCUMULATION OF NOVEL FORMS OF CAPITAL IN THE CONTEMPORARY MARKET ECONOMY

The role and importance of corporate social responsibility (CSR) is highlighted as an important factor of accumulation of intellectual, social, reputational and cultural capital, ensuring the global competitiveness of modern market economies. The world experience of CSR development in the context of increasing the level of trust in society, accumulation and effective implementation of social capital is analyzed. The peculiarities of CSR development in Ukraine are emphasized, and the state priority actions are grounded in order to promote social responsibility of the business as a factor of accumulation of new forms of capital, namely: institutionally-organizational arrangement of effective interaction of private business and state, state encouragement of private business to implement CSR by providing tax privileges and benefits, informational support for CSR development, promotion of corporate social responsibility principles, spreading the ideas of CSR among employees, customers, communities, deepening of business cooperation with universities and research institutions towards adapting international best practices and training in the field of CSR.

Keywords: corporate social responsibility; novel forms of capital; intellectual capital; social capital; reputation capital; cultural capital.

Received: 26/01/2018

1st Revision: 20/02/18

Accepted: 10/03/2018

DOI: https://doi.org/10.17721/1728-2667.2018/197-2/2


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