MACROECONOMIC EFFECT OF CORPORATE SOCIAL RESPONSIBILITY: UKRAINE’S INTERNATIONAL STATUS

Abstract

Abstract. The article proves the need and possibility to determine the macroeconomic effect of corporate social responsibility. The need for research is due to the gradual establishment of post-capitalist relations in society. This changes the system of interaction between business, society and the state. At the same time, it is taken into account that the systemic transformation is accompanied by deepening asymmetries and crisis phenomena in the world economy, increasing risks and challenges to society. This also leads to the need of the determination of the macroeconomic effect of corporate social responsibility. The possibility of determining the specified macroeconomic effect is provided by the analysis methodology for generalizing the results of rationing for three indicators reflecting the components of sustainable development (social sphere, economy and ecology). This allows to determine the average index of compliance of the country with the requirements of sustainable development. Thus, the basic principles of understanding the corporate social responsibility policy, the result of which is manifested at the national level, are considered in the context of the interrelation with the content of the sustainable development concept. The theoretical and methodological principles of this research area are consistent with the requirements of the new economic reality, which is increasingly acquiring the signs of post-capitalism. The methodology that guarantees the determination of the macroeconomic effect of corporate social responsibility is proposed. The proposed methodology is applied to clarify the international status of Ukraine regarding the compliance of the country’s development with the goals of sustainable development with the projection of processes occurring in society on the consumption sphere (taking into account the reaction of consumers to business behavior). Aggregation of standardized values (Ukraine to the number of countries in the ratings) made it possible to assess the country’s position, to adjust it for the indicator of the country’s development compliance with the principles of sustainable development, and to take into account the market reaction to business behavior (consumer confidence when making purchases). Keywords: sustainable development, corporate social responsibility, macroeconomic system, macroeconomic effect of corporate social responsibility, post-capitalism. JEL Classification B41, F20, M14 Formulas: 3; fig.: 0; tabl.: 4; bibl.: 31.

Keywords

• sustainable development
• corporate social responsibility
• macroeconomic system
• macroeconomic effect of corporate social responsibility
• post-capitalism