CORPORATE SOCIAL RESPONSIBILITY OF MULTINATIONAL CORPORATIONS IN UKRAINE
The role of corporate social responsibility in MNCs’ competitiveness enhancement is analyzed. Consumers prefer and recommend products of MNCs with high level of CSR, good reputation attracts investors and increases market capitalization. Microsoft, The Walt Disney Company and Google have the best corporate reputations in the world with consumers and are considered to be the best among US consumers, the best corporate citizen and the best place to work respectively.
The general state of CSR development in Ukraine is studied. Despite numerous responsible initiatives in home and developed host countries of multinational corporations, their activity in the sphere of CSR in Ukraine is often limited to single projects. Moreover according to key CSR ratings relatively small amount of multinational corporations are recognized to be systematic and open in the sphere of corporate social responsibility. The article also deals with several examples of companies’ responsible practices, demonstrating the main spheres of CSR in Ukraine. Companies in Ukraine tend to invest in community involvement and development and labor practices, whereas organizational governance, human rights, fair operating practices are considered not worthy of regard.
The ways of CSR level enhancement in Ukraine are proposed. The author comes to the conclusion that adequate governmental support and CSR information popularization in society may contribute under favorable economic conditions to transformation of CSR into integral part of doing business in Ukraine.
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Keywords: corporate social responsibility (CSR), sustainable development, responsible practice, creating shared value, non-financial reporting, multinational corporation |
CORPORATE FINANCE
Kiriakova Maryna
PhD, Associate Professor, SHEI «Kyiv National Economic University named after Vadym Hetman»
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