Development of the Financing Structure of Corporate Social Responsibility Practices
Open Access
- 22 November 2021
- journal article
- Published by Kemerovo State University in Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences
- Vol. 2021 (3), 427-434
- https://doi.org/10.21603/2500-3372-2021-6-3-427-434
Abstract
The article features the concept of corporate social responsibility and its financing. Russian publications usually focus on theory. However, such practices and the related profit depend on how the company allocates its financial resources. By solving this matter, commercial organizations can solve many issues of inefficient or unsystematic spending of funds. Modern business needs verified mechanisms for financing corporate social responsibility in order to develop corporate management. The article introduces various issues related to social and environmental activities that are new to domestic business. The author proved the relevance of the availability of financing mechanisms for these areas, thus distinguishing the system of corporate social responsibility from unsystematic environmental or social spending, as well as from one-time charity events or promotions.Keywords
This publication has 2 references indexed in Scilit:
- Corporate Social and Financial Performance: A Meta-AnalysisOrganization Studies, 2003
- THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINKStrategic Management Journal, 1997