IMPACT OF SOCIAL BUSINESS INVESTMENT ON THE DEVELOPMENT OF SOCIETY: IMPLEMENTATION OF INTERNATIONAL EXPERIENCE IN UKRAINE
Abstract
Based on the analysis of international experience, the article systematizes the main tools for assessing the impact of social investments on the development of the economy and society. The author made an attempt to generalize and research the essence and content of international approaches and recommend them for implementation in Ukraine. This is important not only for the improvement of the investment policy in the sphere of attracting and regulating the activities of investors in Ukraine, but also for increasing their social responsibility towards the country's society. It was noted that the experience of implementing and evaluating social investment is summarized in global standards and reports on corporate social responsibility. Studies of the publications of domestic scientists have shown that the problems of social responsibility of enterprises are considered mainly on a theoretical level or are tied to the costs of enterprises to solve internal social problems. Therefore, practical issues of social investment evaluation are open for further research. In the research, the author relied on general scientific methods, such as the logical method, deduction and induction, analysis and synthesis, system analysis, functional analysis, factor analysis. Based on the application of general scientific methods, the main principles were highlighted, the factors were classified, the criteria were defined and the importance of each of them was indicated, the essence was investigated and the possibilities of their recommendations for Ukrainian business were determined. The article presents a scheme for assessing the effect of social investments of business, which is universal for any investment projects, regardless of the source of investment, and therefore it can be recommended also for assessing the social effect of investments. The size of the social effect is largely determined by the socio-economic situation in the region, and the effect of the introduction of new jobs will depend on their share in the existing jobs in the region and on the situation on the regional labor market. The impact of social investments is multifaceted and affects not only the issue of ensuring economic growth in Ukraine. Social investments can become a catalyst for various changes in the social sphere of development of Ukrainian society.
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