REPUTATION OF SOCIALLY RESPONSIBLE CORPORATIONS IN THE WORLD FINANCIAL MARKET

Authors

  • N. Orlova The Center for retraining and advanced training of employees of public authorities, local governments, state enterprises, institutions and organizations at the Kyiv Regional State Administration
  • L. Ladonko Kyiv National University of Trade and Economics
  • N. Filipova Chernihiv Polytechnic National University
  • O. Mital Vernadsky Tavriya National University

DOI:

https://doi.org/10.18371/fcaptp.v4i35.221855

Keywords:

reputation, corporate social responsibility, financial market, competitiveness

Abstract

The article proves that the implementation of the principles and use of the tools of corporate social responsibility can increase the reputation of the corporation and its activity in the financial world market. The purpose of the article is to substantiate and determine the role of corporate social responsibility of the companies in ensuring and improving their reputation in the global financial market. The article substantiates that the low level of corporate governance practice and insufficient part of social contribution to the companies negatively affect formation of corporate social responsibility of the corporations. In addition, the international and European experience of introduction of the tools of corporate social responsibility in activity of the corporations in the world market is revealed and the factors of improving reputation are defined. The article analyzes the indicators for socially responsible corporations for 2018—2019 according to the ratings of Fortune Global 500, Net Promoter Score, Newsweek Green Ranking, which have the highest reputation according to the Institute of Reputation: Rolex, Lego, Disney, Adidas Group, Microsoft, Sony, Canon, Michelin, Netflix, Bosch. The analysis of indicators made it possible to identify the proportional dependence of the reputation of the corporation on the measures of corporate social responsibility that the latter implements. It is determined on the basis of the study that corporate social responsibility is an effective tool to increase the competitiveness of both corporations and the government in the financial market.

Author Biographies

N. Orlova, The Center for retraining and advanced training of employees of public authorities, local governments, state enterprises, institutions and organizations at the Kyiv Regional State Administration

Doctor of Public Administration, Рrofessor

L. Ladonko, Kyiv National University of Trade and Economics

Doctor of Economics, Professor of Public Management and Administration Department

N. Filipova, Chernihiv Polytechnic National University

Ph. D. in Economics, Associate Professor, Associate Professor of Department of Public Administration and Organizations’ Management

O. Mital, Vernadsky Tavriya National University

Ph. D. in Economics, Associate Professor of the Department of Economics, Entrepreneurship and Natural Sciences

References

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Published

2020-12-24

Issue

Section

The topical questions about the development of finance, account and audit