Lysiak, L. and Kachula, S. and Hrabchuk, O. and Ziuzin, V. (2021) DEVELOPMENT OF CORPORATE SOCIAL RESPONSIBILITY AND FINANCING OF SOCIAL PROGRAMS: REGIONAL ASPECT. AD ALTA: Journal of interdisciplinary research (11(1)). pp. 73-82.

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Title in English

DEVELOPMENT OF CORPORATE SOCIAL RESPONSIBILITY AND FINANCING OF SOCIAL PROGRAMS: REGIONAL ASPECT

English abstract

The article aims to summarize the theoretical foundations of corporate social responsibility and identify current trends and prospects for socially responsible business in the financing of social programs at the regional level. Scientific research methods as analysis and synthesis, generalizations, analogies, induction, and deduction to formulate theoretical generalizations and results were used. Based on the article results, the development of the theoretical foundations of corporate social responsibility and the forms of its practical implementation in the context of European and Ukrainian trends is studied. The growing role of a socially responsible business in financing social programs implemented in the territory of its presence is shown. The need to develop partnerships at the regional/local level between local governments and socially responsible business on the financing of social projects and programs, the implementation of socially responsible investment is justified. The best practices of realization of corporate social responsibility of TOP20 companies in the territory of presence - in regions of Ukraine are generalized. Recommendations on the strategic development of corporate social responsibility and implementation of social programs at the regional level are offered. The conclusions reveal the need to use financial mechanisms/instruments in modern conditions to involve business in addressing regional/local importance issues, paying special attention to creating institutional conditions for intensifying partnerships between business and government to implement priority social programs based on public-private partnership EU countries.

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