The relationship between corporate social responsibility and corporate governance

Abstract

The concept that allows the balance between economic, social and environmental goals (as a concept of corporate social responsibility) represents a widely accepted business practice in the developed countries of the world. The growing demands of the business have pointed to the shortcomings of the management concepts that have been focused exclusively on profit. For these reasons, the problems, interests, and goals of the broader groups of stakeholders should be the components of a company's business and must be an integral part of corporate governance. The aim of the paper is to determine the relationship between corporate social responsibility (CSR) and corporate governance. The subject of research is the concepts of CSR and corporate governance, as well as their interconnectedness. The methodology includes an analysis of the available previous research results. The results of theoretical research indicate that there is a relation between both concepts, but that the link is not unambiguous.

The Mediating Role of Employee Commitment in the Relationship Between Corporate Social Responsibility and Firm Performance in Serbia

“…There are numerous definitions of CSR, including the most basic and well-known one by Carroll (1979, pp. 499–500), in which he stated that “CSR embodies the economic, legal, ethical, and discretionary categories of business performance in a simultaneous way.” Today CSR is widely portrayed as a concept that “allows the balance between economic, social and environmental goals” (Berber et al, 2019, p. 2). CSR provides different benefits to the company, but also to the community in which company operates (R.…”

“…According to Moura-Leite and Padgett (2011), CSR was established in the 1950s, when the primary focus of CSR was on the responsibilities of businesses toward society, while today CSR is considered an important strategic factor (p. 528). CSR is balancing between three related areas of business, that is, economy, society, and environment (Aleksić et al, 2020; Berber et al, 2019). CSR includes the elements of a circular economy (Vukadinović & Ješić, 2019), which is seen as a sustainable concept for development of the economy.…”

Workplace Mobbing in Polish and Lithuanian Organisations with Regard to Corporate Social Responsibility

“…In the literature, a large scientific discussion exists on the direct or indirect benefits of enterprises being socially responsible (e.g., [53,54]. One claims that companies should not only create profits, but should also act as subjects that enhance sustainable development and responsible behaviour [55]. There is a general acceptance of the thesis that if a company wishes to be perceived as a reliable partner in business, it should behave in accordance with CSR concepts, implement elements of this concept, and, indeed, follow this concept fully [24,56].…”

Circular economy and sustainable development

“…At the micro level, circular economy is often viewed as part of the concept of corporate social responsibility (Berber et al, 2019). The goals of this model can be achieved "through long-lasting design, maintenance, repair, reuse, remanufacturing, refurbishing, and recycling" (Geissdoerfer et al, 2017, p. 763).…”