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Triple bottom line and corporate social responsibility performance indicators for Russian companies

Author

Listed:
  • Igor Varyash

    (Financial Research Institute of the Ministry of Finance of the Russian Federation, Russian Federation)

  • Alexey Mikhaylov

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Nikita Moiseev

    (Plekhanov Russian University of Economics, Russian Federation)

  • Kirill Aleshin

    (Institute for African Studies of the Russian Academy of Sciences , Russian Federation)

Abstract

This article analyses the relationship between Triple Bottom Line (TBL) and Corporate Social Responsibility (CSR) performance indicators: EBITDA, Emissions Score, Resource Use Score, Environmental, Social and Governance (ESG) Score, Environmental Innovation Score, Product Responsibility Score, CSR Strategy Score, Management Score, Shareholders Score. The paper develops the 3-overlapping-circles sustainability model in the context of CSR performance indicators. The data in this study represents scores of 34 major Russian companies, which operate domestically and abroad, in particular, in developing regions like Africa. The mathematical methods like regression has approved the link between environmental innovations and ESG level. It is the first empirical research using this approach for analysis of CSR performance indicators in Russia, because the same data was unavailable before. The paper suggests that environmental innovations and ESG level is linked to Russian largest companies. If business is stimulated towards environmental innovations and R&D. It gives more projects and make the ESG level higher. Paper proposes the concept of TBL in Russian companies for increasing level of ESG and business performance (EBITDA). Understanding how 3-overlapping-circles model implementation can improve CSR performance indicators is a significant question. In addition, we analyzed regression of CSR performance indicators in 2018 year for Russian large companies to find the optimal solution.

Suggested Citation

  • Igor Varyash & Alexey Mikhaylov & Nikita Moiseev & Kirill Aleshin, 2020. "Triple bottom line and corporate social responsibility performance indicators for Russian companies," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 313-329, September.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:1:p:313-329
    DOI: 10.9770/jesi.2020.8.1(22)
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    Cited by:

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    3. Nikolay Didenko & Djamilia Skripnuk & Sergey Barykin & Vladimir Yadykin & Oksana Nikiforova & Angela B. Mottaeva & Valentina Kashintseva & Mark Khaikin & Elmira Nazarova & Ivan Moshkin, 2024. "Impact of Carbon Emission Factors on Economic Agents Based on the Decision Modeling in Complex Systems," Sustainability, MDPI, vol. 16(10), pages 1-14, May.
    4. Bohuslava Mihalčová & Antonín Korauš & Olha Prokopenko & Jozefína Hvastová & Magdaléna Freňáková & Peter Gallo & Beáta Balogová, 2021. "Effective Management Tools for Solving the Problem of Poverty in Relation to Food Waste in Context of Integrated Management of Energy," Energies, MDPI, vol. 14(14), pages 1-18, July.
    5. Ján Dobrovič & Veronika Čabinová & Peter Gallo & Petra Partlová & Jan Váchal & Beáta Balogová & Jozef Orgonáš, 2021. "Application of the DEA Model in Tourism SMEs: An Empirical Study from Slovakia in the Context of Business Sustainability," Sustainability, MDPI, vol. 13(13), pages 1-19, July.
    6. Ionuț Viorel Herghiligiu & Ioan-Bogdan Robu & Marinela Istrate & Maria Grosu & Camelia Cătălina Mihalciuc & Adrian Vilcu, 2023. "Sustainable Corporate Performance Based on Audit Report Influence: An Empirical Approach through Financial Transparency and Gender Equality Dimensions," Sustainability, MDPI, vol. 15(18), pages 1-28, September.
    7. Régis Y. Chenavaz & Alexandra Couston & Stéphanie Heichelbech & Isabelle Pignatel & Stanko Dimitrov, 2023. "Corporate Social Responsibility and Entrepreneurial Ventures: A Conceptual Framework and Research Agenda," Sustainability, MDPI, vol. 15(11), pages 1-30, May.
    8. Zhibek Khussainova & Maiya Gazizova & Gulzhan Abauova & Zhanibek Zhartay & Gulnur Raikhanova, 2023. "Problems of Generating Productive Employment in the Youth Labor Market as a Dominant Risk Reduction Factor for the NEET Youth Segment in Kazakhstan," Economies, MDPI, vol. 11(4), pages 1-18, April.
    9. Changjun Zheng & Konan Richard Kouadio & Bienmali Kombate, 2021. "The United States and China Financial Communication and the Notion of Risk," JRFM, MDPI, vol. 14(4), pages 1-14, March.
    10. Iveta Šimberová & Antonín Korauš & David Schüller & Lenka Širáňová & Jarmila Straková & Jan Váchal, 2022. "Threats and Opportunities in Digital Transformation in SMEs from the Perspective of Sustainability: A Case Study in the Czech Republic," Sustainability, MDPI, vol. 14(6), pages 1-17, March.
    11. Muhammad Ikram & Qingyu Zhang & Robert Sroufe & Marcos Ferasso, 2020. "The Social Dimensions of Corporate Sustainability: An Integrative Framework Including COVID-19 Insights," Sustainability, MDPI, vol. 12(20), pages 1-29, October.
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    More about this item

    Keywords

    score analysis; ESG; sustainability; innovations; management level; Russia; Africa;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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