EVALUATING THE EFFECTIVENESS OF CORPORATE SOCIAL RESPONSIBILITY POLICY

Abstract

The article is devoted to the study of modern indicators and methods of researching the effectiveness of corporate social responsibility policy. The author considers the theoretical achievements of domestic and foreign scholars, as well as the unresolved issues in their works. The author examines the corporate social responsibility policy through the prism of three components, namely, economic, environmental and social. Simple factual reflections of these components are specified. On the basis of these components, a system of various indicators is built, which are the basis for further evaluation of the effectiveness of corporate social responsibility policy. Three methods are used to obtain objective results of the assessment of various data: the method of researching ESG indicators, quantitative and qualitative, and mixed. The article describes each of these methods and analyzes their positive and negative qualities in terms of the objectivity of the results obtained when assessing the effectiveness of corporate social responsibility policy using different methods. To demonstrate how to assess the effectiveness of corporate social responsibility policy, the author presents the procedure for researching ESG indicators through open data, namely, through the company's independent non-financial reporting by posting it on its official web resources, and also displays mathematical formulas for each individual indicator. The article emphasizes the importance of applying the assessment of the effectiveness of corporate social responsibility policy in order to gain competitiveness, brand recognition and attractiveness among the State, investors, customers, employees and other social groups in the market of goods and services. The author summarizes and emphasizes the practical value of the outlined methods for assessing the effectiveness of corporate social responsibility policy and their importance for businesses of various sizes and sectors of the economy.