Transactions And Institutions The Importance Of The Institutional Framework In Regulating Corporate Social Responsibility
Process of globalization conditions the business to acknowledge a factor that go beyond the boundaries of classical economic theory. Effective management of the company entails building of mutual rational relationships and constructive communication with all the stakeholders in business processes. Analysis of the activities of modern companies entails the acknowledgement of their positive and negative impacts on the society and natural environment. Corporate social responsibility (CSR) is becoming an increasingly important research phenomenon, but also an institution, which serves as an indicator of civilization and sustainable development. The aim of this paper is to demonstrate the importance of the institutional frameworks in regulating the CSR, to analyze some key aspects and issues related to the observed phenomenon and define its contemporary position. It starts from the hypothesis that a) CSR gradually changes, but its position is on the line between rhetorical illusion, voluntary possibility of implementation and the need for forced (institutional) commitment, and b) that institutional pluralism is a precondition for overcoming of the institutional vacuum and monist quasi-institutionalization of neo-liberal type. The conclusion is that it is necessary to institutionally define the achievement of balance between the economical, environmental and social imperatives.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andelko Lojpur, 2005. "Management In The Process Of The Corporate Governance," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 1(1), pages 119-126.
- Luigi Zingales, 1997. "Corporate Governance," NBER Working Papers 6309, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:mje:mjejnl:v:9:y:2013:i:2:p:39-46. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Nikola Draskovic Jelcic)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.