Responsible Business Research Articles

Sustainability Performance Reporting

Sustainability reporting is an essential tool for companies and organizations to assess and communicate their sustainability performance. Its importance derives from the need for transparency and accountability to stakeholders, including investors, customers, employees and local communities. The principles underlying an effective sustainability report include integrity, accuracy, comparability and clarity. The main purpose of the sustainability report is to provide a clear view of the economic, social and environmental impact of the organization’s activities, contributing to continuous performance improvement and alignment with international standards. The objective of our study is to analyze sustainability reporting and ESG (environment, social, governance) reporting, key steps and methods for measuring and reporting sustainability, and the sustainability policy criteria and reporting frameworks used internationally (GRI, IIRC, SASB, TCFD, ISO 26000, ISO 14016) in order to identify areas for further development to improve the relevance and effectiveness of sustainability reporting. The results obtained from our study enable a better understanding of how an organization reports its social, economic, and environmental impact, the differences in compliance with the international standards used, the main steps, and sustainability criteria followed. Our research highlights the necessary actions and steps through which sustainability reporting can become a more effective and relevant tool, contributing to real sustainable development and more responsible resource management. The usefulness of this report is reflected in many aspects: it facilitates informed decision making, enhances trust and reputation, helps identify risks and opportunities, and supports sustainable business strategies. The sustainability report is not only a means of reporting but also a catalyst for positive change, promoting responsible business practices and contributing to global sustainable development.

Bibliometric Analysis of the Growth and Challenges of Digital Entrepreneurship

This paper presents a bibliometric analysis of the growth and challenges in digital entrepreneurship, synthesizing key findings from influential research in the field. The analysis identifies major trends such as the integration of digital technologies in entrepreneurship education, the critical role of big data, and the transformation of innovation processes. It highlights how entrepreneurial ecosystems and financial innovations, such as microfinance and crowdfunding, have enabled broader access to resources for digital entrepreneurs, particularly small and medium enterprises (SMEs). Emerging themes, including social entrepreneurship, gender inclusivity, and the use of digital platforms by women entrepreneurs, reveal the shifting focus toward more inclusive and socially responsible business models. The study concludes by discussing the dynamic nature of digital entrepreneurship and the importance of developing supportive ecosystems to address the ongoing challenges of digital transformation and global competition.

Evaluating ESG frameworks: A comparative analysis of global standards and their application in Kazakhstan

This article investigates the key drivers and barriers to the adoption of Environmental, Social, and Governance (ESG) principles in Kazakhstan. By conducting a thematic analysis of relevant documents, frameworks, and case studies, the study evaluates the current state of ESG practices in Kazakhstan and compares them with international standards set by S&P Global, the Asian Development Bank (ADB), and the London Stock Exchange Group (LSEG). The findings highlight significant progress in regulatory support and investor demand but also identify critical challenges such as the lack of comprehensive ESG reporting standards, limited expertise, and infrastructure constraints. To address these issues, the article proposes a strategic framework that includes the development of a Unified ESG Reporting Standard, enhancement of corporate governance structures, investment in ESG infrastructure, and leveraging of market incentives. The proposed framework aims to align Kazakhstan's ESG practices with global standards, thereby enhancing its attractiveness to sustainable investment and improving its global standing in responsible business practices. Additionally, the article identifies gaps between Kazakhstan's ESG practices and international standards and offers targeted solutions to bridge these gaps, contributing to the country's sustainable development goals and attracting increased international investment.

Interaction Between Public Authorities and Business in the Field of Corporate Social Responsibility: Issues of Legal Regulation

Introduction. The formation of sustainable economic growth (development) presupposes the successful economic activity of entrepreneurs and their socially responsible behavior. At the same time, for effective legal regulation of economic activity, it is ne­cessary to determine what exactly is meant by corporate social responsibility and what should be the attitude of law to various socially significant actions of entrepreneurs. Theoretical Basis. Methods. The research is based on the use of general scientific methods (system method, game theory method, methodological individualism, functional method, formal logical methods (deduction, induction, analysis, synthesis, etc.)) and special legal methods (formal legal, legal comparative research, law and economics, legal modeling method). Results. To assess the content of corporate social responsibility, two models have been identified. The first model assumes that the mission of a business is to maximize profits and pay taxes. Within the second model, in addition to paying taxes, other measures (charity, environmental projects, etc.) are added to the social responsibility of business. The general question, however, is how should the law respond to corporate social responsibility measures? Consideration of corporate social responsibility measures in the general context of economic activity made it possible to develop a universal approach to legal regulation. Discussion and Сonclusion. The article substantiates that the promotion of corporate social responsibility measures at the level of legal regulation should be determined by the needs of society, the lack of entrepreneurs’ own incentives and the difficulty of implementing social projects by public authorities. At the same time, legal norms can both directly provide for legal consequences when implementing certain measures and indicate the possibility of concluding vertical (managerial) agreements, allowing, at the level of individual regulation, to establish modes of activity for entrepreneurs when implementing certain measures of corporate social responsibility.

Forging Sustainable Development: Exploring the Impact of Green Initiatives and Corporate Social Responsibility

In today's industrial landscape, businesses are increasingly recognizing the importance of integrating environmentally sustainable strategies to maintain competitiveness considering escalating environmental concerns. This study investigates the relationship between green practices, corporate social responsibility (CSR), managerial support, and sustainable business performance within Pakistan's service sector. Grounded in the resource-based view and stakeholder theory, the research employs a quantitative approach, surveying 506 participants across managerial levels from service sector. The findings underscore a positive correlation between green practices, CSR adherence, and sustainable performance. Notably, managerial support plays a pivotal role in translating green initiatives and CSR commitments into tangible sustainable outcomes. The widespread adoption of eco-friendly technologies within the service sector signifies a broader industry-wide shift towards sustainability. This study contributes valuable insights for academia, policymakers, industry professionals, and organizational leaders, shedding light on effective strategies for sustainable business practices. By aligning green initiatives with CSR objectives and leveraging managerial support, enterprises can position themselves as leaders in sustainable performance, thereby fostering value creation while addressing environmental challenges.

THEORETICAL AND CONCEPTUAL BASIS OF ECOLOGICAL BUSINESS DEVELOPMENT

The state of development of ecological business in Ukraine today is characterized by a gradual increase in interest in sustainable development and the introduction of green technologies. The main obstacles remain imperfect legislation, lack of state support and funding, lack of proper infrastructure and insufficient level of environmental awareness among the population. In this context, there is also a need to develop theoretical and conceptual foundations that will help to clearly define approaches, principles and models of ecological business development. The purpose of the article is to determine the theoretical and conceptual foundations of the development of ecological business. The current state of development of ecological business in Ukraine is analyzed. It is noted that the development of ecological business is of key importance for the post-war reconstruction of Ukraine, as it contributes to the creation of a sustainable and environmentally responsible economy. It has been established that the development of ecological business can help Ukraine adapt to new international standards and requirements for sustainable development, which will contribute to the country's integration into global economic processes. The necessity and importance of researching the theoretical foundations of ecological business development in the context of the domestic economy has been proven. The components of the theoretical and conceptual foundations of the formation and development of ecological business are defined and revealed. The prospects for the development of ecological business in Ukraine are analyzed. Thus, ecological business is based on several key theoretical foundations, including the concept of sustainable development, the theory of natural capital, and the circular economy model. The conceptual foundations of the development of ecological business include the principles of ecological management, innovativeness and ecological technologies, as well as social responsibility of business. It is noted that for the further development of ecological business in Ukraine, a clear strategy is needed, which will include stimulating investments, improving legislation, developing infrastructure and increasing environmental awareness of society.

GLOBAL EXPERIENCE OF DEVELOPING COUNTRIES IN FORMING INNOVATIVE MECHANISMS OF GREEN ECONOMIC GROWTH

The article examines the international experience of developing countries in creating and implementing innovative mechanisms to achieve green economic growth. The necessity of implementing such mechanisms to ensure sustainable economic development is substantiated. It is argued that innovative approaches are key to preserving the ecological balance and improving the well-being of the population. It was established that the effective use of natural resources requires the integration of environmental and economic strategies. Based on the set goal, various models and practices of green growth applied in developing countries are considered. Successful examples are studied and found that their adaptation can contribute to global sustainable development. Further perspectives of research should be aimed at studying the possibilities of scaling and optimization of these innovative mechanisms in the context of global challenges. It was determined that each country has its own characteristics due to the level of development of the country, its geographical location, the presence of natural resources and the specifics of the concepts, models and development tools used, which correspond to national priorities and accumulated experience, and therefore the transition to a "green" economy for different states will take place under different scenarios. It illustrates the benefits and challenges of implementing green innovation for developing countries using the example of China and its chart of China's key industrial strategies for green manufacturing. During the research of this topic, it was found that the consistent and effective implementation of the principles of "green" investment, as well as "green" development in general, is possible only in a regulatory environment, transparent and fair, developed in accordance with the principle of the rule of law, with independent courts procedures, with the participation of independent market regulators acting in accordance with national interests, respecting the rights of investors and consumers. On the other hand, for their principles of implementation a vital role is played by socially responsible business behavior, one of the key indicators of which is the attitude of business to environmental issues, the efficiency of resource use and energy efficiency, and the disclosure of socially significant non-financial information. It is noted that in Ukraine climate and investment policies function separately from each other, and sometimes their goals are mutually contradictory, which prevents or slows down investments in the development of "green" infrastructure.

Transcend local for global: ESG as a legitimacy signal in the global expansion of emerging multinational enterprises

Emerging market multinational enterprises (EMNEs) are under increasing pressure to demonstrate robust environmental, social, and governance (ESG) as they expand globally. However, existing research has not thoroughly examined the theoretical relationship between ESG disclosure and the degree of internationalisation of EMNEs. This study addresses this gap by integrating institutional and signalling theories, revealing that superior ESG is positively associated with higher levels of EMNE internationalisation. This relationship is mediated by international financing capabilities and moderated by media attention. The study demonstrates that strategic initiatives related to ESG disclosure can serve as signals of legitimacy for EMNEs navigating institutional complexities on a global scale. These findings are supported by an empirical analysis of panel data from 2011 to 2020, providing theoretical insights into ESG signalling mechanisms. Practically, proactive ESG strategies can offer a competitive advantage for EMNEs as they manage complex foreign expansions amidst growing demands for responsible business conduct.

Правовое регулирование добросовестных практик в сфере предпринимательства

The article deals with the peculiarities of legal regulation of fair practices in the course of entrepreneurial activity. According to the author, the maintenance of the system of fair practices is aimed at resolving the most complex issues of interaction between entrepreneurs and other participants of entrepreneurial activity. In the conditions of the modern market fair practices are considered in the context of the general problem of civil liability and sustainable business development. These problems are studied as a structural element of corporative social responsibility of business.

Moderating effects of country-level institutional quality and cultural dimensions on CSR-stock price crash risk relationship: a meta-analysis study

PurposeThis study uses meta-analysis to examine the relationship between corporate sustainability reporting (CSR) and stock price crash risk (SPCR) and to discern the moderating effects of country-level institutional quality and cultural dimensions on this link.Design/methodology/approachThe study used mean correlation coefficients to test the relationship between CSR and SPCR and meta-regressions to test the moderating effects. The analysis considers 65 effect sizes from 24 empirical studies.FindingsThe results showed that CSR reduces the chances of SPCR. The inverse relationship between CSR and SPCR is stronger in masculine, high power distance and long-term oriented cultures and is less pronounced in individualistic, uncertainty avoidance and indulgent cultures. The inverse relationship is also stronger in countries where high-quality institutions exist.Research limitations/implicationsThis study is based on correlation coefficient analysis and excludes studies publishing only regression results. Furthermore, it provides guidance to lessen SPCR. Findings suggest that such initiatives may mitigate the risk of stock price crashes for firms. Through meta-analysis, this research investigates the correlation between environmental, social and governance (ESG) disclosure and stock price crash occurrences, offering insights with significant implications for the European financial landscape and globally.Originality/valueThis is a pioneer meta-analysis that investigates the link between CSR and SPCR and the moderating effects of country-level institutional quality and cultural dimensions. Our study sheds light on the potential impact of promoting a sustainable and responsible business environment in Europe through comprehensive ESG disclosure under the Corporate Sustainability Reporting Directive (CSRD).

Guest editorial: Navigating global challenges: Asian perspectives of globally responsible business leadership

Guest editorial: Navigating global challenges: Asian perspectives of globally responsible business leadership

From Risk to Reward: Understanding the Influence of Generation Z and Personality Factors on Sustainable Entrepreneurial Behaviour

Entrepreneurial intent has transformed over the last few decades to respond to current environmental, societal and economic challenges. An essential role in this transformation has been bequeathed to Generation Z. This study aims to evaluate the influence of Generation Z personality traits measured by internal locus control, perceived creativity (PC), proactive personality (PP) and sustainable perceived behavioural control (SPBC) on sustainable entrepreneurial intention (SEI) when mediated by Generation Z’s perception of risk. The sample for this study was collected through a data collection instrument in which 505 young people from Portuguese Generation Z participated. A quantitative methodology was applied through the Partial Least Square method. The results show that the personality traits, PC, PP and sustainable perceived control behaviour of Generation Z positively influence their risk perception (RP) and SEI. In turn, RP positively influences the SEI of these young people. No statistically significant relationship was found between the internal locus control of Generation Z youth and RP or SEI. This study is key to expanding identity theory to the context of sustainable entrepreneurship among Generation Z youth, highlighting how RP shapes their entrepreneurial practices. By contributing to the still scarce literature on generational cohorts in the field of entrepreneurial activity, the study offers a valuable empirical analysis of the relationship between personality traits and entrepreneurial intention. In addition, it deepens understanding of the emerging concept of sustainable entrepreneurship, providing important insights for promoting environmentally responsible business practices among younger generations.

VẤN ĐỀ THỰC HÀNH KINH DOANH CÓ TRÁCH NHIỆM TRONG LĨNH VỰC LAO ĐỘNGTHEO PHÁP LUẬT HOA KỲ VÀ GỢI MỞ CHO VIỆT NAM

This article analyses fundamental contents regarding responsible business practice in the Guiding Principles for Business and Human Rights (UNGP) and the Guidelines for Multinational Enterprise (OECD Guidelines), while referring to the United States law and propose suggestions for Vietnam.

The Impact of Green Business Ethics and Green Financing on Sustainable Business Performance of Industries in Turkey: The Mediating Role of Corporate Social Responsibility

The purpose of this research is to understand the relationship between green business ethics, green finance, and sustainable business performance, and to evaluate the role of corporate social responsibility (CSR) in this relationship. The impact of the damage inflicted on nature’s functioning order is being felt much more strongly today. In light of these realities, companies must emphasize sustainability principles not just out of financial concerns but as a result of corporate social responsibility. In this context, focusing on the role of corporate social responsibility in sustainable business performance is the main goal of this research. Quantitative research methods, specifically the cross-sectional survey method, were employed for data collection and analysis. For this purpose, a convenience sampling method was used to select 427 white-collar employees working in industries operating in Türkiye as the sample for this study. The data collected through surveys were analyzed using the AMOS 24 statistical program. The findings underscore that green business ethics and green finance have a significant impact on corporate social responsibility and sustainable business performance. Additionally, it was determined that corporate social responsibility plays an intermediary role in shaping sustainable business performance. These findings are expected to provide an important foundation that can guide both employees and managers in developing awareness about green policies and sustainability, emphasizing the importance of green policies in working life.

Investigating the Impact of ESG on Responsible Business Practices: An Integrated ISM and MICMAC Methodological Approach

Investigating the Impact of ESG on Responsible Business Practices: An Integrated ISM and MICMAC Methodological Approach

Re-envisioning corporate social responsibility education from a multicultural perspective: From pyramid to hourglass

While contemporary capitalist society is stimulating corporate social responsibility (CSR) and related themes such as sustainability, with the UN SDGs and ESG as dominant narratives, educators have voiced concerns about the actual issue of how to integrate these emerging phenomena into management education. This study adopted a sequential explanatory design using responses collected from international business school students in Asia over a 6-year period to examine this gap. Their perceptions were analyzed by matching them against Carroll's four-part definitional framework, the pyramid of CSR, to gauge the degree to which CSR theories are received by students. The results revealed that the majority of Asian students understand CSR differently from the mantra “CSR is about responsible business”. Depending on the context, Carroll's CSR pyramid is negatively perceived by students in Asia as many are aware that CSR is a culturally hypersensitive subject. The study proposes three recommendations for developing inclusive CSR education in multicultural settings: 1) emphasizing the “changing” role of business in the world and contemporary capitalism; 2) emphasizing the necessity of blending Western CSR theories with sustainable development issues in other nations; and 3) adding more details about cultural sensitivity in our use of CSR.

Integrating CSR and Business Strategy into Social Innovation: Insights from Taiwan’s Cultural and Creative Industries

ABSTRACT Design/methodology/approach This study’s contributions lie in the use of multiple methods and data collected from developing industries from cultural and creative industries in Taiwan. Purpose This study aims not only to emphasize the importance of corporate social responsibility (CSR) for businesses but also to examine how CSR activities affect communities while ensuring that the firm meets its necessary social performance standards. Findings The results show the multiple mediation mechanism of business strategy, multiple moderation effects of marketing orientation in the initial stage, and the role of social entrepreneurial self-efficacy in the final stage of improving the social innovation. Practical implications This study considers how CSR could affect the results of business strategy, whereby cultural and creative firms should embrace social responsibility behavior altruistically rather than merely seeking economic benefits but focus on social innovation to improve their own competitive advantage. Originality/value This study argues that the relationship among CSR, business competitive strategy and firm innovation performance is more complex than previous business management studies have revealed.

CSR Spending Deviation from Mandate in India

A clause in the Companies Act of 2013, mandates that companies allocate two percent of their revenues to the CSR initiatives. The goal of this research is to examine the reasons behind the CSR expenditure gap in India. Following our directions, the sample consisted of 200 respondents who filled out the survey. The survey concluded with a question designed to collect data on the proportion of a company's budget allocated to CSR initiatives. Colleagues participated in the pilot research, and their input was utilized to refine the questionnaire. One of the most significant markers of a company's connection with society is its level of (CSR), even though the CSR effect operations cannot always be quantified in terms of financial allocations. The results suggest that the inclusion of this provision is a sensible move on the part of regulators aiming to increase the social responsibility of businesses.

The Impact of Environmental, Social, and Governance Disclosure on the Performance of Saudi Arabian Companies: Evidence from the Top 100 Non-Financial Companies Listed on Tadawul

This study investigated the relationship between environmental, social, and governance (ESG) disclosure and the performance of Saudi Arabian companies. We analysed panel data from the 100 non-financial companies listed on the Saudi stock exchange (Tadawul) from 2017 to 2022. Using fixed effects, random effects, and generalised method of moments (GMM) models to account for endogeneity concerns, we examined the impact of ESG disclosure on the return on assets (ROA), return on equity (ROE), and Tobin’s Q. An ESG index was constructed through a principal component analysis of individual environmental, social, and governance scores. Our results indicate a significant positive relationship between ESG disclosure and companies’ key performance variables across all models. These findings are consistent with stakeholder theory and signalling theory, suggesting that comprehensive ESG practices can lead to better financial performance and serve as a positive signal to stakeholders. The study also reveals sector-specific differences, with non-manufacturing firms showing stronger positive relationships between ESG disclosure and performance measures compared to manufacturing firms. Additionally, we find that firm size, age, and liquidity are important factors influencing the ESG–performance relationship. This research contributes to the growing literature on ESG and corporate performance in emerging markets, offering valuable insights for policymakers, investors, and corporate practitioners in Saudi Arabia’s evolving sustainable business landscape. Our findings underscore the importance of ESG disclosure in driving sustainable and responsible business practices in the region.

Про концепцію соціальної відповідальності бізнесу та унормування відповідальності материнських компаній

The article identifies various areas of violations of human rights and freedoms by industrial companies, which require an adequate response from the legislator. The experience of French and German law in protecting human rights and freedoms from the adverse impact of economic activity may be useful. This also applies to the liability of a parent company for the actions of its subsidiaries, given the existence of control over the activities of the latter, and the adoption of decisions that indicate the level of influence they exert. Despite the fact that economic freedoms are currently prioritized over social interests, social responsibility of business is becoming increasingly important. The article focuses on the issues of determining the type, amount of liability and assessment of violations identified in the course of analyzing the case law in disputes on social responsibility of business in the presence of a negative impact on human rights and freedoms. The author analyzes the tort liability of legal entities for human rights violations, noting that it is characterized by pecuniary compensation. In the absence of actual damages, the tort liability of companies loses its meaning. The case law of the European Court of Human Rights and Ukrainian court practice does not provide for compensation for the mere fact of interference or the mere existence of a negative impact on human rights and freedoms by a business entity. This makes it necessary to find other approaches to respond to the negative consequences of companies’ activities. The problem is exacerbated by the fact that damage to human rights and freedoms is difficult to measure and evaluate: determining the equivalent value of a violation of the right to privacy, personal information, loss of comfort, etc. On the contrary, the practice of English courts is to award compensation to the claimants whose rights and freedoms have been violated, which distinguishes them from the tort liability of companies.