BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Formation of Corporate Security Based on the Criterion of Social Responsibility of Business
Otenko V. I., Vizhunov A. O., Ustymenko A. V.

Otenko, Vasyl I., Vizhunov, Artem O., and Ustymenko, Andrii V. (2025) “Formation of Corporate Security Based on the Criterion of Social Responsibility of Business.” Business Inform 1:462–470.
https://doi.org/10.32983/2222-4459-2025-1-462-470

Section: Management and Marketing

Article is written in Ukrainian
Downloads/views: 0

Download article (pdf) -

UDC 005.934:005.35

Abstract:
In the theory of corporate governance, it is a widely recognized fact that a company adhering to the principles of corporate and social responsibility has a higher level of security for investment, development of partnerships, public trust, and consumer loyalty to its products. For investors, high international ratings of a company in compliance with ESG principles and standards serve as an indicator for the development of partnership relations, providing an additional advantage in establishing the position of a strategically important partner. The voluntary social commitments undertaken by companies create a positive image for society, employees, consumers, and enhance their competitive positions in international markets. This serves as a criterion that the company is responsible in matters of occupational safety for its employees, environmental protection, support for biodiversity, and so on. Conversely, the absence of such an ecological and social image significantly complicates business operations and creates certain risks in the formation of corporate security. Therefore, there has been a considerable increase in the interest of international companies in assessing the level of compliance of their activities with ESG criteria. The article proposes using the European Foundation for Quality Management (EFQM) excellence model to evaluate the levels of sociality, ecological sustainability, and quality of corporate governance. A system of criteria and indicators has been developed for this purpose, along with recommendations for establishing an expert commission to conduct the assessment. The results of the evaluation will enable the formation of a comprehensive set of organizational measures aimed at establishing corporate security based on the principles of social and ecological responsibility.

Keywords: corporate security, social and corporate responsibility, principles, ESG ratings, international standards, assessment, ecological sustainability, sociality, quality of corporate governance, criteria, indicators.

Tabl.: 4. Bibl.: 16.

Otenko Vasyl I. – Doctor of Sciences (Economics), Professor, Professor, Department of Management, Business and Administration, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]
Vizhunov Artem O. – Postgraduate Student, Department of Management, Business and Administration, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]
Ustymenko Andrii V. – Postgraduate Student, Department of International Economic Relations and Business Security, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

Berzhanir, A. L., and Chyrva, H. M. “Metodolohiia teoretychnykh doslidzhen korporatyvnoi sotsialnoi vidpovidalnosti“ [Methodology of Theoretical Research on Corporate Social Responsibility]. Ekonomika ta upravlinnia natsionalnym hospodarstvom. 2018. http://global-national.in.ua/archive/21-2018/24.pdf
Voronkova, A. E. et al. Korporatsii: upravlinnia ta kultura [Corporations: Management and Culture]. Drohobych: Vymir, 2006.
Matos, P. “ESG-pryntsypy ta vidpovidalne instytutsiine investuvannia u sviti : Krytychnyi ohliad doslidzhen“ [ESG Principles and Responsible Institutional Investing in the World: A Critical Review of Research]. Lviv : Vyd-vo Lviv. politekhniky, 2020. https://ua.cfaukraine.org/wp-content/uploads/2020/12/P.Matos_ESG-PRYNTSYPY_ebook.pdf
Gibson, R. et al. “Responsible Institutional Investing around the World“. Working paper. (19 December). 2019. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3525530
Gibson, R. et al. “ESG Rating Disagreement and Stock Returns“. Working paper. (22 December). 2019. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3433728
Berg, F., Koelbel, J. F., and Rigobon, R. “Aggregate Confusion: The Divergence of ESG Ratings“. M I T Sloan Research Paper no. 5822-19 (20 August). 2019. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3438533
Krueger, P. “Sustainability Footprinting as a Tool to Implement Mission-Related Investing: How to Use Portfolio-Level Measures of Sustainability to Better Align Investment Strategy and Mission“. Expert Focus, vol. 3 (2019): 158-162.
Krueger, P., Sautner, Z., and Starks, L. T. “The Importance of Climate Risks for Institutional Investors“. Review of Financial Studies, vol. 33 (3) (2020): 1067-1111.
Kotsantonis, S., and Serafeim, G. “Four Things No One Will Tell You about ESG Data“. Journal of Applied Corporate Finance, vol. 31 (2) (2019): 50-58.
Larcker, D. F., and Watts, E. “Where's the Greenium?“ Stanford School of Business Working Paper (12 February). 2019. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3333847
“Rezultaty shchorichnoho opytuvannia Palaty shchodo spryiniattia rivnia koruptsii - prezentatsiia (06 liutoho 2018)“ [Results of the Chamber's Annual Survey on the Perception of the Level of Corruption - Presentation (February 6, 2018)]. http://www.chamber.ua/uk/Media/Publications/8189
“STANDART ISO 14001. Systema ekolohichnoho menedzhmentu“ [STANDARD ISO 14001. Environmental Management System]. https://academy.tms.ua/uk/sertificat-ua/standart-iso-14001-systema-ekolohichnoho-menedzhmentu/
[Legal Act of Ukraine] (2008). https://zakon.rada.gov.ua/go/514-17
[Legal Act of Ukraine] (2014). https://zakon.rada.gov.ua/rada/show/vr955863-14#Text
“Pro okhoronu navkolyshnoho seredovyshcha“ [About Environmental Protection]. http://sfs.gov.ua/arhiv/podatkova-baza-do-nabrannya-chinnosti-podatkovim-kodeksom/normativno-pravova-baza/zakoni-ukraini/arhiv-zakoniv-ukraini/zakoni-ukraini-za-1991-rik/60472.html
“Model doskonalosti Yevropeiskoho fondu upravlinnia yakistiu (EFQM)“ [European Foundation for Quality Management (EFQM) Excellence Model]. Vikipediia - vilna entsyklopediia. https://uk.wikipedia.org/wiki

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster