National Models of Corporate Social Responsibility: Comparative Analysis

Abstract

The article is devoted to one of the most discussed topics of our time – corporate social responsibility (hereinafter – CSR). Discussions about the functions of business, its role in the development of society have been going on for several decades and do not lose their relevance to this day. Moreover, the implementation of CSR involves going beyond the statutory standards of business conduct. Companies strive to establish relations with the society and invest in its development, to strengthen its reputation, to harmonize the so-called «habitat». However, socially responsible behavior involves diverting part of the financial resources to solve tasks that are not directly related to making a profit. Striving for prosperity in the long term encourages companies to find a balance between the need to invest in the social sphere and possible economic results. Aware of the fact that CSR can be not just a «gesture of goodwill», but also a serious tool for competition, companies actively include its principles in corporate strategy. One can say with confidence that CSR today is a global phenomenon, a practice that is being introduced in countries with different levels of political and social development. Within the framework of this paper, the concept of the national CSR model is revealed. The article provides a comparative analysis of the national models of CSR developed in Western countries. Their main similarities and differences are determined. Based on the results of the comparative analysis, the authors propose recommendations on the formation of the Russian CSR model for state structures, the private sector, the media, the society as a whole.

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

“…In Table 2, models (1), ( 3), (5), and ( 7) are built on a sample of companies with high financial stability, while models (2), ( 4), (6), and ( 8) -on a sample of companies with low financial stability. Models (1) and ( 2) reflect the results of the effect between CSR and Enterprise Performance.…”

“…Russian companies have shifted toward CSR practices, knowing that they want to excel and do business in the international market, which provides strong business relationships, and helps improve their reputation. Therefore, CSR in Russia has advanced and changed in a way, integrating the form of inherited values and social responsibility, existing social establishments, and socially and globally responsible principles [5].…”