Researching the Impact of Corporate Social Responsibility on Economic Growth and Inequality: Methodological Aspects

Mihail Chipriyanov, Galina Chipriyanova (), Radosveta Krasteva-Hristova, Atanas Atanasov and Kiril Luchkov
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Mihail Chipriyanov: Department of Strategic Planning, Tsenov Academy of Economics, 5250 Svishtov, Bulgaria
Galina Chipriyanova: Department of Accounting, Tsenov Academy of Economics, 5250 Svishtov, Bulgaria
Radosveta Krasteva-Hristova: Department of Accounting, Tsenov Academy of Economics, 5250 Svishtov, Bulgaria
Atanas Atanasov: Department of Accounting, Tsenov Academy of Economics, 5250 Svishtov, Bulgaria
Kiril Luchkov: Department of Economics, Industrial Engineering and Management Faculty of Management, Technical University, 1000 Sofia, Bulgaria

JRFM, 2024, vol. 17, issue 12, 1-19

Abstract: The study focuses on analyzing the impact of corporate social responsibility (CSR) on economic growth and reducing inequality, highlighting the importance of CSR in achieving sustainable development and social justice. The main aim is to analyze how different CSR initiatives contribute to economic development, social prosperity, and the reduction in inequality by reviewing the methods used to assess their impact. The research methodology includes a detailed literature review, bibliometric analysis and scientific mapping, surveys of various business organizations, and a gap analysis regarding the identification of gaps between the current state of CSR activities and the expected outcomes. The research shows that companies perceive CSR as a key tool for improving corporate image, responding to stakeholder expectations, and investing in social justice. Despite positive intentions, challenges include the lack of clearly defined methodologies for measuring the impact on economic inequality, as well as difficulties in assessing the long-term effects of CSR initiatives. Key conclusions highlight the need for more structured approaches to assessing the social and economic effects of CSR, recommending that companies improve their transparency and accountability and implement clear indicators of success to achieve sustainable economic and social outcomes.

Keywords: corporate social responsibility (CSR); sustainable development; social justice; economic growth and inequality; strategic planning; strategic management (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
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