JEL Classification: E 62, G 11, G 32. | DOI: https://doi.org/10.31521/modecon.V13(2019)-15 |
Efremova Nina, PhD (Economics), Associate Professor of the Department of Economics and Production Organization, Dnipro State Technical University, Kamianske, Ukraine
Kovalenko Elena, PhD (Economics), Associate Professor of the Department of Economics and Production Organization, Dnipro State Technical University, Kamianske, Ukraine
Prysvitla Oksana, PhD (Economics), Associate Professor of the Department of Economics and Production Organization, Dnipro State Technical University, Kamianske, Ukraine
Socially Responsible Investments: Essence and Directions
Abstract. Introduction. The existent interpretation of essence idea (conception) of «socially responsible» investments are regarded in the article. It is marked that double nature of «socially responsible investing» is displayed in the process of its using as it gives the possibility to satisfy the new both public and corporative sectors simultaneously. Promotes harmonic balancing between economic effectiveness and social justice. It grounds that under the condition of great competition at the inside and outside markets, and strengthening the global processes of the social development of the enterprise and the realization of social function is more and more important and becomes a serious factor of providing a steady economic development. We should consider the level of corporative and social responsibility as one of the directions in realizing of social business structure functions which unite and integrate the index of measuring that is the size of socially responsible investments.
Purpose. Following of their tending, directing of using universal outside and inside kinds of socially responsible investments was considered. The attention is paid to the impossibility of socially responsible investments identifying with social investments. They mean more capacious notion, as they take in all amount of additional enterprise expenses directed to satisfy reasonable needs of interested in it sides.
Results. Besides, it is given the analysis of present state of socially responsible investments in Ukraine, which else is compared with the developed countries and has preference the inner character of directing. Namely they, according to their volume exceed the size of home enterprises on universal investments and the investments of outside direction, though namely they relates to the highest level of socially responsible investments.
Conclusions. It is confirmed that basing on the experient of the developed countries, national business structures have to do and may activised their activity not only in the direction of increasing the volume of socially responsible investments, but also in the direction of using fully all these kinds.
Кeywords: the corporative social responsibility; social investing; social investments and socially responsible investments.
References:
- Baiura, D. O. (2011). Social investment as the highest level of corporate social responsibility. Teoretychni ta prykladni pytannia ekonomiky, 24, 212-218 [in Ukrainian].
- Herasymov, H. V. (2010). Social investment of enterprises: problems and prospects of development in Ukraine. Visnyk Khmel’nyts’koho natsional’noho universytetu, 2(6), 130-133 [in Ukrainian].
- Hrishnova, O. A., Mischuk, H. Yu. & Olijnyk, O. O. (2014). Sotsial’na vidpovidal’nist’ u trudovykh vidnosynakh: teoriia, praktyka, rehuliuvannia ryzykiv [Social responsibility in labor relations: theory, practice, risk management], NUVHP, Rivne [in Ukrainian].
- Diakivs’kyj, D. A. (2016). Socially responsible investments as a promising direction of investment activity: essence and trends. Naukovi zapysky NaUKMA, Ekonomichni nauky, 185, 62-68 [in Ukrainian].
- Copenhagen Declaration on Social Development. Adopted by the World Summit for Social Development, Copenhagen, 6-12 March 1995. Retrieved from http://www.un.org/ru/documents/decl_conv/declarations/copdecl.shtml [in Russ.].
- Novikova, R. I., Amosha, V. P. and Antoniuk, V. P. (2008). Liuds’kyj potentsial: mekhanizm zberezhennia ta rozvytku [Human potential: a mechanism for preservation and development], NAN Ukrainy, In-t ekonomiky promyslovosti, Donets’k [in Ukrainian].
- Lazarenko, L. V. (2013). Corporate Social Responsibility as an Innovative Business Strategy. Visnyk Skhidnoievropejs’koho universytetu ekonomiky i menedzhmentu, Ekonomika i menedzhment, 1, 89-96 [in Ukrainian].
- Moroz, O. V. & Karachyna, N. P. (2012). Financial criterion for forming models of economic behavior of enterprises. Finansy Ukrainy, 6, 104-113 [in Ukrainian].
- Orlova, N. V. (2015). Conceptual bases of social responsibility of business. Rynkova ekonomika: suchasna teoriia i praktyka upravlinnia, 3 (31), 145-168 [in Russ.].
- Prytuliak, N. M. (2018). Social investment as a form of corporate responsibility implementation. Finansy Ukrainy, 8, 63-74 [in Ukrainian].
- The results of the first stage of the study “Business, Managed by Values” conducted by the Lviv Business School at UCU. Retrieved from http://svb.org.ua/sites/default/ files/values_research_results.pdf [in Ukrainian].
- Sardak, S. E. & Haslenko, K. S. Internal Corporate Social Responsibility: theory and practical aspects. Ekonomika ta suspil’stvo. Retrieved from http://www.economyandsociety.in.ua/journal-12/19-stati-12/1333-sardak-s-e-gaslenko-k-s [in Ukrainian].
- Turylo, A. M. & Sviatenko, S. V. (2010). Theoretical and methodological foundations of financial and economic development of the enterprise. Finansy Ukrainy, 2, 120-126 [in Ukrainian].
- Introduction to Socially Responsible Investing (SRI) (2012), The Sustainable Business Case Book, Saylor Academy. Retrieved from https://saylordotorg.github.io/text_the-sustainable-business-case-book/s16-01-introduction-to-socially-respo.html
- Report on US Sustainable, Responsible and Impact Investing Trends 2014. Retrieved from http://www.ussif.org/files/publications/sif_trends_14.f.es.pdf.
- Report on Sustainable and Responsible Investing Trends in the United States – 2012. Retrieved from http://www.ussif.org/files/ Publications/12_Trends_Exec_Summary.pdf.
Received: 16 January 2019
How to quote this article? |
Efremova, N., Kovalenko, E. & Prysvitla, O. (2019). Socially Responsible Investments: Essence and Directions. Modern Economics, 13(2019), 95-100. DOI: https://doi.org/10.31521/modecon.V13(2019)-15. |