Concept of Social Responsibility as an Instrument of Stabilising the Macroeconomic Situation of Enterprises

Abstract

The article presents the issue of corporate social responsibility as an instrument of stabilising the macroeconomic situation of a company based on building increased trust and attachment of society to a given company. Developing relationships in a proper way with stakeholders should be a guarantee to make a business an important element of the social structure, thus contributing to mitigating the impact of economic changes on the company's situations. The aim of this work is to examine the impact of selected macroeconomic variables related to the activities of enterprises (in particular. socially responsible enterprises), illustrated in the form of changes in the value of stock market indices (including listed social responsibility indexes). The cross-spectral analysis tool was used to analyse the causality of macroeconomic changes. Changes in the spectral density values of individual variables, as well as the coherence square and phase spectrum values of variables, were analysed. An additional tool was used in the study to create an index of changes in exchange values in order to conduct a comparative analysis of the development of time series relating to individual indices. The data analysed was related to changes in the value of social responsibility indexes, as well as macroeconomic data, for the period from January 2001 to the end of April 2019.