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Corporate Governance and Corporate Social Responsibility Synergies: A Systemic Approach

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  • Nikolić Jelena

    (University of Kragujevac, Faculty of Economics, Serbia)

  • Zlatanović Dejana

    (University of Kragujevac, Faculty of Economics, Serbia)

Abstract

Respecting the importance of corporate governance (CG), particularly various corporate governance mechanisms for improving corporate social responsibility (CSR) activities, the paper highlights relevant CG–CSR synergies from the perspective of systems thinking. The paper further aims to demonstrate the ways in which selected systems methodologies can support CG–CSR synergies. Accordingly, we selected appropriate systems methodologies, such as dialectical systems theory, soft systems methodology, and system dynamics. We defined the dialectical system, consisting of essential corporate governance mechanisms, which contribute to CSR; we also identified the key stakeholders and their perceptions of CG–CSR relations through CATWOE analysis; thus, the appropriate root definition and conceptual model, including the activities that are relevant for CG–CSR relations, were developed. Developed systemic framework provided a relevant methodological support to highlight the various issues of corporate governance, such as institutional framework, market for corporate control, ownership structure, board structure, and their contribution to CSR.

Suggested Citation

  • Nikolić Jelena & Zlatanović Dejana, 2018. "Corporate Governance and Corporate Social Responsibility Synergies: A Systemic Approach," Naše gospodarstvo/Our economy, Sciendo, vol. 64(3), pages 36-46, September.
    • Handle: RePEc:vrs:ngooec:v:64:y:2018:i:3:p:36-46:n:4
    DOI: 10.2478/ngoe-2018-0016
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    More about this item

    Keywords

    corporate governance; corporate social responsibility; CG–CSR synergies; systemic approach; combined use of selected systems methodologies;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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