Abstract
The development of Corporate Social Responsibility (CSR) initiative is formed by several cultural, economic, social, political and institutional factors which have an impact on setting the priorities and advancement of CSR practices. The aim of this study is to assess CSR performance at the country level. In order to achieve this aim, the main drivers and barriers of CSR initiatives were identified and systematized based on literature review. The policies to address these barriers were analysed and discussed. The framework for the assessment of CSR performance was developed based on the analysis and assessment of the quality of political-regulatory, economic and social environment, implemented public policies to promote CSR and successes that were achieved by countries in implementing recommendations for public policy advancement. The indicators from Venture Capital and Private Equity Country Attractiveness Index, CSR policies areas reviews and EU recommendations for the improvement of public policies linked to the CSR were applied for assessing the CSR performance. The empirical analysis and the assessment of CSR performance in the Baltic States was performed based on the developed framework and policy recommendations that were developed for other countries, taking into account the priorities of “The Belt and Road” project that was initiated by the Chinese government and aiming at sustainable development and global risk mitigation.
Highlights
Nowadays, Corporate Social Responsibility (CSR) has become the primary approach to fulfil sustainable development on the micro level
The empirical analysis and the assessment of CSR performance in the Baltic States was performed based on the developed framework and policy recommendations that were developed for other countries, taking into account the priorities of “The Belt and Road” project that was initiated by the Chinese government and aiming at sustainable development and global risk mitigation
The structure of the study is as follows: in the first section, the literature review on the main drivers and barriers of CSR is provided; in the second section, the analysis of public policies to support CSR initiatives in the EU is performed; in the third section, the framework for the assessment of CSR performance is developed; in the forth section, the state policies to promote CSR in the Baltic States are assessed based on the framework developed in this study; the discussion of the results is given in section 5, which is followed by the conclusions
Summary
Corporate Social Responsibility (CSR) has become the primary approach to fulfil sustainable development on the micro level. There is quite a diverse situation among the EU MS in terms of implementing policies to promote CSR initiatives and achieved results in sustainable development as well the effectiveness of economic, social and environmental policies, which are targeting the same issues on the macro level as CSR initiatives are addressing on the micro level Another important issue is the CSR performance in a country. There are no developed frameworks for the assessment of CSR performance on the macro level that would allow comparing and ranking countries and applying good practices that have been achieved in the other countries This main input of this study is addressing this gap and development of a framework for the assessment of CSR performance in a country based on the quality of the politicalregulatory, economic and social environment, implemented state policies to promote CSR and overcome the barriers of CSR development and successes achieved by the countries in CSR-related policy support area. The structure of the study is as follows: in the first section, the literature review on the main drivers and barriers of CSR is provided; in the second section, the analysis of public policies to support CSR initiatives in the EU is performed; in the third section, the framework for the assessment of CSR performance is developed; in the forth section, the state policies to promote CSR in the Baltic States are assessed based on the framework developed in this study; the discussion of the results is given in section 5, which is followed by the conclusions
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