The role of the state in supporting social investment projects to ensure sustainable development
DOI:
https://doi.org/10.34069/AI/2023.64.04.36Keywords:
social investments, human capital, corporate social responsibility, social guarantees, social assistance mechanism.Abstract
Human, intellectual, and social capital serve as the foundation for the modern global socio-economic environment, impacting the competitiveness of economic systems and playing a pivotal role in their development. However, social responsibility has emerged as a pressing concern, with governments often failing to provide adequate social security to citizens due to various reasons. State-level provisions typically offer minimal social guarantees, leaving urgent issues unresolved and social assistance mechanisms ineffective. This article aims to clarify the theoretical foundations and practical trends in social investment project development, emphasizing their significance for both individual companies and the broader socio-economic context. The research employs analytical and bibliographic methods to examine relevant scientific literature, employing systemic and structural analyses, comparisons, logical and linguistic methods, as well as induction, deduction, information synthesis, abstraction, and idealization for data processing. Additionally, an online questionnaire survey was conducted to identify key issues related to social investment project development. The study's results highlight crucial theoretical aspects of social investment in the economy and explore the perspectives of scientists and heads of local government departments on its pivotal dimensions and importance for economic and social progress.
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References
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Wang, Y., Delgado, M. S., & Xu, J. (2023). Correction: When and where does it pay to be green? – A look into socially responsible investing and the cost of equity capital. International Journal of Corporate Social Responsibility, 8, 4. https://jcsr.springeropen.com/articles/10.1186/s40991-023-00080-w
Beji, R., Yousfi, O., Loukil, N., & Omri, A. (2021). Board diversity and corporate social responsibility: Empirical evidence from France. Journal of Business Ethics, 173(1), 133-155. https://doi.org/10.1007%2Fs10551-020-04522-4
Bucaro, A. C., Jackson, K. E., & Lill, J. B. (2020). The influence of corporate social responsibility measures on investors’ judgments when integrated in a financial report versus presented in a separate report. Contemporary Accounting Research, 37(2), 665-695. https://doi.org/10.1111%2F1911-3846.12542
Chu, S.-C., Chen, H.-T., & Gan, C. (2020). Consumers’ engagement with corporate social responsibility (CSR) communication in social media: Evidence from China and the United States. Journal of Business Research, 110, 260-271. https://doi.org/10.1016%2Fj.jbusres.2020.01.036
Ettinger, A., Grabner-Kräuter, S., Okazaki, S., & Terlutter, R. (2021). The desirability of CSR communication versus green housing in the hospitality industry: The customers' perspective. Journal of Travel Research, 60(3), 618-638. https://doi.org/10.1177%2F0047287520930087
Farmaki, A. (2019). Corporate social responsibility in hotels: A stakeholder approach. International Journal of Contemporary Hospitality Management, 31(6), 2297-2320. https://doi.org/10.1108%2FIJCHM-03-2018-0199
Fatima, T., & Elbanna, S. (2023). Corporate Social Responsibility (CSR) Implementation: A Review and a Research Agenda Towards an Integrative Framework. Corporate Social Responsibility (CSR) Implementation: A Review and a Research Agenda Towards an Integrative Framework. Journal of Business Ethics, 183, 105-121. https://link.springer.com/article/10.1007/s10551-022-05047-8
George, B., Walker, R. M., & Monster, J. (2019). Does strategic planning improve organizational performance? A meta-analysis. Public Administration Review, 79(6), 810-819. https://doi.org/10.1111%2Fpuar.13104
Ginder, W., Kwon, W.-S., & Byun, S.-E. (2021). Effects of internal–external congruence-based CSR positioning: An attribution theory approach. Journal of Business Ethics, 169(2), 355-369. https://doi.org/10.1007%2Fs10551-019-04282-w
Gödker, K., & Mertins, L. (2018). CSR disclosure and investor behavior: A proposed framework and research agenda. Behavioral Research in Accounting, 30(2), 37-53. https://acortar.link/vMumBV
Graafland, J., & Smid, H. (2019). Decoupling among CSR policies, programs, and impacts: An empirical study. Business & Society, 58(2), 231-267. https://doi.org/10.1177%2F0007650316647951
Jiang, F., Zalan, T., Tse, H. H. M., & Shen, J. (2018). Mapping the relationship among political ideology, CSR mindset, and CSR strategy: A contingency perspective applied to Chinese managers. Journal of Business Ethics, 147(2), 419-444. https://link.springer.com/article/10.1007/s10551-015-2992-7
Khan, S. N. (2018). Making sense of the black box: An empirical analysis investigating strategic cognition of CSR strategists in a transitional market. Journal of Cleaner Production, 196, 916-926. https://doi.org/10.1016%2Fj.jclepro.2018.06.075
Laguir, L., Laguir, I., & Tchemeni, E. (2019). Implementing CSR activities through management control systems: A formal and informal control perspective. Accounting, Auditing & Accountability Journal, 32(2), 531-555. https://doi.org/10.1108%2FAAAJ-05-2016-2566
Luo, J. M., Huang, G. Q., & Lam, C. F. (2019). Barriers to the implementation of corporate social responsibility in the gaming industry. Journal of Quality Assurance in Hospitality & Tourism, 20(5), 528-551. https://doi.org/10.1080%2F1528008X.2018.1563019
Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2018). Exploring the relationship between business model innovation, corporate sustainability, and organisational values within the fashion industry. Journal of Business Ethics, 149(2), 267-284. https://doi.org/10.1007%2Fs10551-016-3044-7
Pham, H. S. T., & Tran, H. T. (2020). CSR disclosure and firm performance: The mediating role of corporate reputation and moderating role of CEO integrity. Journal of Business Research, 120, 127-136. https://doi.org/10.1016/j.jbusres.2020.08.002
Platonova, E., Asutay, M., Dixon, R, & Mohammad, S. (2018). The impact of corporate social responsibility disclosure on financial performance: Evidence from the GCC Islamic banking sector. Journal of Business Ethics, 151(2), 451-471. https://doi.org/10.1007%2Fs10551-016-3229-0
Quintana-García, C., Marchante-Lara, M., & Benavides-Chicón, C. G. (2018). Social responsibility and total quality in the hospitality industry: Does gender matter? Journal of Sustainable Tourism, 26(5), 722-739. https://doi.org/10.1080/09669582.2017.1401631
Wang, Y., Delgado, M. S., & Xu, J. (2023). Correction: When and where does it pay to be green? – A look into socially responsible investing and the cost of equity capital. International Journal of Corporate Social Responsibility, 8, 4. https://jcsr.springeropen.com/articles/10.1186/s40991-023-00080-w
Published
2023-05-30
How to Cite
Minochkina, O., Adamovska, V., & Skibitska, L. (2023). The role of the state in supporting social investment projects to ensure sustainable development. Amazonia Investiga, 12(64), 340–347. https://doi.org/10.34069/AI/2023.64.04.36
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