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 responsibilitynot 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
References:
Voevodkin N.Yu. [Social responsibility within the system of corporate governance]. Ars Administrandi (Iskusstvo upravleniya) = ARS ADMINISTRANDI, 2011, no. 4, pp. 45–55. (In Russ.)
Tuzov D.V. [Socially responsible investing: A reality or illusion?]. Vestnik Finansovogo universiteta = Bulletin of Financial University, 2007, no. 4, pp. 41–47. (In Russ.)
Pass A.A. [Social responsibility of cooperative 'business': Historical experience of the USSR of the 1950s (the Chelyabinsk oblast case)]. Vestnik Chelyabinskogo gosudarstvennogo universiteta = ChSUBulletin, 2014, no. 9, pp. 102–110. (In Russ.)
Pochekailo T.N. [Specifics of the environment of Russian corporate governance model formation]. Vestnik Tyumenskogo gosudarstvennogo universiteta = UT Research Journal, 2006, no. 6, pp. 290–292. (In Russ.)
Pendyukhov D.E., Pendyukhova G.K. [The nature of socio-economic processes]. Mezhdunarodnyi zhurnal eksperimental'nogo obrazovaniya = International Journal of Experimental Education, 2014, no. 11-2, pp. 39–40. (In Russ.)
Drobyshevskaya L.N., Salomatina E.V. [Models of corporate governance: International experience and Russian practice]. Teoriya i praktika obshchestvennogo razvitiya = Theory and Practice of Social Development, 2011, no. 5, pp. 267–272. (In Russ.)
Dement'eva A.G. [Corporate governance in developed countries and Russia]. Menedzhment v Rossii i za rubezhom = Management in Russia and Abroad, 2008, no. 3, pp. 124–138. (In Russ.)
Matten D., Moon J. 'Implicit' and 'Explicit' CSR: A Conceptual Framework for a Comparative Understanding of Corporate Social Responsibility. Academy of Management Review, 2008, vol. 33, iss. 2, pp. 404–424.
Rahim M.M. The Impact of Corporate Social Responsibility on Corporate Governance: The Rise of Standardization of CSR Principles. In: Corporate Social Responsibility in the Global Business World. Springer, 2014, pp. 93–113. doi: 10.1007/978-3-642-37620-7_5
O'Riordan L., Fairbrass J. Corporate Social Responsibility (CSR): Models and Theories in Stakeholder Dialogue. Journal of Business Ethics, 2008, vol. 83, iss. 4, pp. 745–758. doi: 10.1007/s10551-008-9662-y
Sotorrío L.L., Fernández Sánchez J.L. Corporate Social Responsibility of the Most Highly Reputed European and North American Firms. Journal of Business Ethics, 2008, vol. 82, iss. 2, pp. 379–390. doi: 10.1007/s10551-008-9901-2
Simonova L.M., Anikeeva O.P., Berdina L.A. [Models of corporate social responsibility]. Vserossiiskii zhurnal nauchnykh publikatsii = Russian Journal of Scientific Publications, 2013, no. 5, pp. 28–30. (In Russ.)
Stekel R., Simons R., Simons J., Tanen N. Making Money While Making A Difference: How to Profit with a Nonprofit Partner. High Trade Press, 1999.
Welford R. Corporate Social Responsibility in Europe, North America and Asia: 2004 Survey Results. Journal of Corporate Citizenship, 2005, no. 17(17), pp. 33–52.
The Oxford Handbook of Corporate Social Responsibility. Ed. by A. Crane, A. McWilliams, D. Matten, J. Moon, D.S. Siegel. Oxford University Press, 2009, 608 p.
Artyukhina L.V. [Corporate Governance Code as a tool to develop organizational culture]. Sotsial'no-gumanitarnye znaniya = Social and Humanitarian Knowledge, 2012, no. 2, pp. 290–296. (In Russ.)