SHS Web of Conf.
Volume 89, 2020Conf-Corp 2020 – International Scientific-Practical Conference “Transformation of Corporate Governance Models under the New Economic Reality”
|Number of page(s)||7|
|Section||Transformation of the Business Models in Modern Conditions|
|Published online||23 December 2020|
Financial and economic aspects of corporate social responsibility
Ural State University of Economics, 620144 Ekaterinburg, Russia
* Corresponding author: email@example.com
The article shows the importance of corporate social responsibility (CSR) in ensuring sustainable development of the country. The types of CSR and its features in various states are considered. The author describes the economy of the Russian Federation and its impact on the system of corporate social responsibility in the country. The high profitability of resource-extractive industries and their use of the country’s national wealth defines their special role in CSR not only towards their employees through wages and the allocation of social benefits from profit, but also to the society. It is shown that the established country’s political system significantly influences the possibility of implementing a system of corporate social responsibility. The author characterizes the significant regulatory and stimulating role of the state in social development through taxation and the structure of government spending. When assessing the financial conditions of CSR, the author analyses the impact of capital outflow on its development. Corporate social responsibility also includes the responsibility of organizations to the environment. The author provides a rating assessment of Russian oil and gas, mining and metallurgical companies openness in terms of environmental responsibility.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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