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

Posted on by

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

References

  1. Bazylevych V.D., 2017. Manocentricity of paradigmatic shifts in the economic theory of the XXI century. Paradigm shifts in the economic theory of the twenty-first century, pp. 15-20.
  2. Scrivens K., Smith C., 2013. Four Interpretations of Social Capital: An Agenda for Measurement. OECD Statistics Working Papers, 06. Available at: http://dx.doi.org/10.1787/5jzbcx010wmt-en
  3. Deutsche Bank, 2017. Corporate Responsibility Report 2016. Available at: https://www.db.com/russia/ru/content/755.htm
  4. Edvinsson L., Malone M.S., 1997. Intellectual Capital. Realizing Your Company’s True Value by Finding Its Hidden Brainpower, New York: Harper Business.
  5. Bourdieu P., 1986. The Forms of Capital. Handbook of Theory and Research for Sociology of Education, New York.
  6. Turner J., 2000. Social Capital: A Multifaceted Perspective. Washington. p.106.
  7. Fukuyama F., 1999. Social Capital and Civil Society. The Institute of Public Policy George Mason University. р. 172.
  8. Putnam, R., 1993. Making Democracy Work: Civic Traditions in Modern Italy. New Jersey: Princeton University Press.
  9. Putnam R., 2000. Bowling Alone: The Collapse and Revival of American Community. New York.
  10. Fombrun C., Shanley M., 1990. What’s in a Name? Reputation Building and Corporate Strategy. Academy of Management Journal, 33, p. 233-256.
  11. Roberts P., Dowling G., 1997. Corporate Reputation and Sustained Superior Profitability. Working Paper. Australian Graduate School of Management.
  12. Fombrun C., 2001. The value to be found in corporate reputation. Mastering Management 2.0. London: Pearson Education.
  13. Fombrun C., Riel V., 2003. Fame and fortune: how successful companies build winning reputations. NJ: Financial Times/Prentice Hall.
  14. Bourdieu P., 1986. The Forms of Capital. Handbook of Theory and Research for Sociology of Education. New York.
  15. Staveren I., Knorringa P., 2007. Unpacking social capital in Economic Development: How social relations matter. Review of Social Economy, 65 (1), p. 107-135, DOI: 10.1080/00346760601132147
  16. Field J., 2003. Social Capital. London: Routledge.
  17. Fine B., 2001. Social Capital Versus Social Theory Political Economy and Social Science at the Turn of the Millennium. London: Routledge.
  18. Taylor M., Leonard S., 2002. Embedded Enterprise and Social Capital. International Perspectives. Aldershot: Ashgate.
  19. Dolfsma W., Dannreuthe C., 2003. Globalization, Social Capital and Inequality. Cheltenham: Edward Elgar.
  20. Kanji G.K., Chopra P. K., 2010. Corporate social responsibility in a global economy. Total Quality Management & Business Excellence, 21 (2), p. 119-143, DOI: 10.1080/14783360903549808.
  21. Bowen H.R., 1953. Social responsibility of the businessman. New York: Harper & Row.
  22. Davis K., Blomstrom R. L., 1975. Business and Society. New York: McGraw-Hill.
  23. Snezhko E., 2018. Corporate social responsibility as an integral part of doing business. Capital. URL: http://www.capital.ua/ru/publication/23871-dlya-ukrainskogo-biznesa-korporativnaya-sotsialnaya-otvetstvennost-v- osobennosti-kak-sostavnaya-bolee-masshtabnogo-yavleniya-ustoychivogo-razvitiya-sustainable-development-do-sikh-por- neredko-vosprinimaetsya-kak-zagranichnaya-dikovinka-i-dazhe-krupnymi#ixzz55W6hA1Rg.
  24. CR’s 100 Best Corporate Citizens, 2017. CR Magazine. URL: http://www.thecro.com/wp-content/uploads/2017/05/CR_100Bestpages_digitalR.pdf.
  25. Banerjee J., 2013. India Mandates Corporate Social Responsibility: The 2 Percent Bill. URL: http://archive.gbchealth.org/asset/india-mandates-corporate-social-responsibility-the-2-percent-bill.
  26. Hiralal M., 2013. India: Corporate Social Responsibility. Indian Companies Act 2013. Available at: http://www.mondaq.com/india/x/366528/Corporate+Governance/Corporate+Social+Responsibility+Indian+Companies+Act+2013
  27. Ohlrich N., 2017. Mandatory Corporate Social Responsibility in India: How Is It Working? Nonprofit Quarterly, February. Available at: https://nonprofitquarterly.org/2017/02/17/mandatory-corporate-social-responsibility-india-working/
  28. Balch O., 2016. Indian law requires companies to give 2% of profits to charity. Is it working? The Guardian. Available at: https://www.theguardian.com/sustainable-business/2016/apr/05/india-csr-law-requires-companies-profits-to-charity-is-it-working.
  29. De Cremer D., 2016. Corporate Social Responsibility (CSR) In China: Huawei as a Case Study. The European Business Review, August. Available at: http://www.europeanbusinessreview.com/corporate-social-responsibility-csr-in- china-huawei-as-a-case-study/
  30. Yuan R., 2017. From CSR to Business Sustainability in China. AmChamChina, January. Available at: https://www.amchamchina.org/news/from-csr-to-business-sustainability-in-china.
  31. Liu M., 2015. Is corporate social responsibility China’s secret weapon? World Economic Forum, March. Available at: https://www.weforum.org/agenda/2015/03/is-corporate-social-responsibility-chinas-secret-weapon/
  32. Lin L., 2010. Corporate Social Responsibility in China: Window Dressing or Structural Change. Berkeley Journal of International Law, 28 (1), p. 64-100. URL: http://scholarship.law.berkeley.edu/cgi/viewcontent.cgi?article =1377&context=bjil.
  33. Sustainability Disclosure Database, 2017. Available at: http://database.globalreporting.org/search/
  34. Barnett T., 2018. Corporate Social Responsibility. Available at: http://www.referenceforbusiness.com/management/ Comp-De/Corporate-Social-Responsibility.html
  35. Runde D.F., 2011. The Evolution of Corporate Social Responsibility. Center for Strategic and International Studies, March. Available at: https://www.csis.org/analysis/evolution-corporate-social-responsibility.
  36. Hohnen P., 2007. Corporate Social Responsibility: An Implementation Guide for Business. International Institute for Sustainable Development. Available at: http://www.iisd.org/pdf/2007/csr_guide.pdf.
  37. Cisco, 2017. Corporate Social Responsibility 2016 Report. Available at: https://www.cisco.eom/c/dam/assets/csr/pdf/ CSR-Report-2016.pdf.
  38. Directive 20l4/95/EU of the European Parliament and of the Council, 2014. Official Journal of the European Union, 15 November. Available at: http://eur-lex.europa.eu/eli/dir/2014/95/oj.
  39. Bakaliev O.M., 2015. Sociological sections of Ukrainian society, pp. 11-19. Available at: http://ief.org.ua/docs/sr/286.pdf.
  40. Zlenko S., 2016. Trust in social institutions 2016. Available at: http://kiis.com.ua/?lang=ukr&cat=reports&id=678&page=1.
  41. Ukraine Consumer Confidence, 2018. Trading Economics. Available at: https://tradingeconomics.com/ukraine/consumer-confidence.
  42. Global Compact, 2018. Participants. Available at: https://www.unglobalcompact.org/what-is-gc/participants

Download