Development of Company Corporate Social Responsibility in globalization conditions

Abstract

The paper deals with theoretical aspects of formation and use of corporate social responsibility in the world and Ukrainian companies as well as interaction between CSR, social investment, reputation and financial indicators. The corporate social responsibility development analysis showed and studied modern trends in CSR, non-financial reporting, initiatives in sustainable development and social responsibility in the world and Ukraine as well. It is developed and empirically tested economic-mathematical model of dependence of net profit and EBITDA on the social investments volume in DTEK company, which allows to make a forecast of the further market development of social investments and its influence on financial indicators. Recommendations were made regarding the implementation of modern non-financial reporting standards in Ukrainian companies. Main problems of CSR development were highlighted and adequate recommendations were proposed. Recommendations regarding implementing CSR principles and social investments also were made.