COMPLEX NATURE OF THE EFFICIENCY OF SOCIAL INVESTMENTS IN BULGARIA
DOI:
https://doi.org/10.56177/11icmie2023.57Keywords:
social investment, social policy, social partnership, efficiencyAbstract
Social investments implement non-economic criteria in investment decisions and thus change the long-term goals of business organisations. They have a long-term perspective and strive for sustainable and socially responsible results. While traditional investments are focused solely on economic profit, social investments promote, on the one hand, economic growth and profit and, on the other – investment in people and society. The article aims to illuminate the multifaceted nature of social investments' efficiency and show that the leading indicators of its effectiveness should be tailored to the actual needs of society and the social order. The report presents a three-stage process of implementing the social investments efficiency assessment, giving good examples from Bulgaria. The study also introduces a matrix of interaction between identified evaluation indicators, which creates prerequisites and conditions for the success of a business organisation.
References
Arsić, S., Stojanović, A., & Mihajlović, I.: The most important dimensions of corporate social responsibility. Bor: International May Conference on Strategic Management – IMKSM17, Bor, Serbia, pp. 436-454, May 19 – 21, 2017, (2017)
Baestaens, E., Van Der Berk, W. M. & Wood, D.: Neural Network. Solutions for Trading in Financial Markets, Pitman publishing, division of Pearson Professional Ltd, London, ISBN 5-85484-0286, pp. 236, (1997)
Dimitrov, M. et al.: Corporate Governance for the 21st Century, Establishing Good Corporate Governance Standards in Bulgaria, Gorexpress, Sofia, pp. 111-112, (2014)
Brunton, M., Eweje, G., & Taskin, N.: Communicating Corporate Social Responsibility to Internal Stakeholders: Walking the Walk or Just Talking the Talk? Business Strategy and the Environment, pp. 31-48, (2017)
Carroll, A.: Corporate social responsibility: The centerpiece of competing and complementary frameworks. Organizational Dynamics, 44, pp. 87-96, (2015)
Fleaca, B. & Fleaca, E., Dimitrescu, A.: The Entrepreneurship and Social Res-ponsibility in Business Market – a Qualitative Analysis. Bulletin UASVM Horticul-ture, vol. 71, no. 2: pp. 379-386, (2014)
Friedman, M.: Capitalism and Freedom, 40th edd. University of Chicago Press, 133, (2002)
Abstract of a dissertation on Diana Antonova Antonova on the subject: Study of mechanisms for formation and institutionalization of corporate social respon-sibility and social investment to acquire the scientific degree "Doctor of Sciences", Field of higher education: 3. Social, economic and legal sciences, Professional direction: 3.4. Social activities, Scientific specialty: Organization and management outside the sphere of material production (Social activities), Shumen University, pp. 42, (2022)
Chaudhary, R.: Corporate social responsibility and employee engagement: can CSR help in redressing the engagement gap?, Social Responsibility Journal, 13(2), pp. 323-338. (2017)
Dimitrov, M & Venelinova, N.: Smart, Secure and Safe Energy Management Approach – An Education Framework Improving the Competence Grid of the Pro-fessionals in the Energy Sector, 25th International conference Knowledge-Based Organization, vol. XXV, No 1, Sibiu, Romania, pp. 213-218, ISSN 2451-3113, (2019)
Duff, A.: Corporate social responsibility reporting in professional accounting firms. The British Accounting Review, pp. 1-13, (2014)
European Parliament Report A7-0017/2013 on Corporate Social Responsibility: Accountable, Transparent and Responsible Business Conduct and Sustainable Growth (2012/2098 (INI)), pp. 112-120
Falk Sara Krüger Legislation on Non-Financial Reporting, CSR for All Project, ToT Workshop - CSR training in Ankara, 2015. The acquisition of "Profit responsi-ble earnings" implies: "Profits created in a responsible manner; CSR must be busi-ness driven and coupled to core business; Must create shared value for society and business; Not philanthropy - not how money is spent, but how it is earned.” pp. 12, (2015)
García-Melón, M. et al.: Assessing mutual funds' corporate social responsibili-ty: a multistakeholder - AHP based methodology. Annals of Operations Research, 244(2), pp. 475-503, (2016)
Moon, J.: Sustainable development. The world guide to CSR: A country-by-country analysis of corporate sustainability and responsibility. Available from https://doi/abs/10.1002/sd.346 , pp. 43. Accessed: 2023-04-28.
Kostadinova, I. & Kunev, S.: Integration of principles of responsible management education in regard of social resposibility’s learning needs. In:/Annals of „Eftimie Murgu” University Reșița. Fascicle II. Economic Studies, ISSN: 2344-6315, (2019)
Pavlov, D.: The role of intergenerational family businesses for the transition to green economy, 8th International Conference on Energy Efficiency and Agricultural Engineering, EE and AE 2022, doi: 10.1109/EEAE53789.2022.9831276, (2022)
Stojanović, A. et al.: The multi-criteria analysis of corporate social responsibil-ity: a comparative study of Russia, Bulgaria and Serbia. IN: Journal of Management & Organization, Published online by Cambridge University Press: pp.1-21, ISSN1839-3527 DOI:10.1017/jmo.2020.40, (2021)
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 International Conference of Management and Industrial Engineering
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
