Implementation of the concept of corporate social responsibility management for quasi-public sector companies

Abstract

Corporate social responsibility affects the financial efficiency of the company, but this influence is most significant under certain environmental conditions, demonstrating a tendency to improve the situation in macroeconomics. However, the very mechanism of such influence remains unexplored. For the practical application of corporate social responsibility for the company’s benefit, it is important to connect corporate social responsibility indicators, environmental parameters with financial metrics. The research purpose is to justify the concept of adaptive management of corporate social responsibility for quasi-public sector companies in the context of macroeconomics changing factors. Research methodology: general scientific methods of cognition: comparison, analysis and synthesis, as well as system-situational, dialectical, abstract-theoretical, structural-functional, and systemic. The study hypothesized that by introducing the impact of the quality of CSR management on the financial performance of a quasi-public sector company, it is possible to provide a high gross domestic product growth rate. The concept of corporate social responsibility management for companies in the quasi-public sector has been developed. It was stated that the largest numerical values of the coefficients for 2018 and 2019 are more than 0.7 units. It was during those years, in accordance with the research results, that low (less than 6 %) inflation and a high GDP growth rate (more than 5 %) took place. Using the concept will make it possible to implement a systematic approach in the management of corporate social responsibility and ensure the conditions for achieving goals in the company of the quasi-public sector