Evaluation of corporate social responsibility of Russian companies based on nonfinancial reporting

Abstract

Over the recent several decades, contemporary literature is devoted to discussions on the role of corporate social responsibility in the development of regional and local communities. There are different approaches to explain the nature and the extent of corporate social responsibility influence on the internal and external processes of the organization. This paper covers the issues related to the Russian practice of socially responsible corporate behavior of the companies representing various strategically important sectors of the Russian economy. Authors have developed technique to evaluate corporate social responsibility based on nonfinancial reporting, that allowed them to reveal a number of problems and contradictions in this area and to formulate requirements for regulatory, organizational and methodological support efforts to promote further the image of Russian companies as socially responsible economic entities on the basis of mutual concurrence of interest between government and business. © IDOSI Publications, 2013.