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Developing the models of Russian corporate social responsibility: Evidence from a large corporation

Vol. 16, Iss. 1, JANUARY 2017

PDF  Article PDF Version

Received: 3 December 2015

Received in revised form: 12 August 2016

Accepted: 2 November 2016

Available online: 27 January 2017

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: G34

Pages: 160-173

https://doi.org/10.24891/ea.16.1.160

Vorontsov P.G. Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation
VorontsovP@gmail.com

Importance The article addresses the impact of corporate social responsibility (CSR) on the performance of a large corporation, its investment appeal and employee satisfaction, and touches upon a wide variety of economic, social and ethical issues.
Objectives The purpose of the study is to find weaknesses of the Russian CSR model, identify areas of its development and give practical recommendations for further improvement of the corporate social responsibility strategy.
Methods In the research, I employed a comparative analysis of data from open sources, segmentation of data and interpretation of findings of various economic studies.
Results The paper presents a brief review of opinions of foreign economists, highlights principal characteristics of foreign models and their weaknesses, refines specifics of promising projects of Russian corporate social responsibility.
Conclusions Corporate social responsibility not only improves economic added value but also acts as an indicator of ethical and responsible attitude of a corporation towards the world. The future development of CSR should be focused on internal environment, rather than the external one. The draft CSR strategy for Russia should be consistent with its national social policy.

Keywords: corporate structure, corporate entity, corporate social responsibility, corporate governance

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