Interaction Between Public Authorities and Business in the Field of Corporate Social Responsibility: Issues of Legal Regulation

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Abstract

Introduction. The formation of sustainable economic growth (development) presupposes the successful economic activity of entrepreneurs and their socially responsible behavior. At the same time, for effective legal regulation of economic activity, it is necessary to determine what exactly is meant by corporate social responsibility and what should be the attitude of law to various socially significant actions of entrepreneurs.

Theoretical Basis. Methods. The research is based on the use of general scientific methods (system method, game theory method, methodological individualism, functional method, formal logical methods (deduction, induction, analysis, synthesis, etc.)) and special legal methods (formal legal, legal comparative research, law and economics, legal modeling method).

Results. To assess the content of corporate social responsibility, two models have been identified. The first model assumes that the mission of a business is to maximize profits and pay taxes. Within the second model, in addition to paying taxes, other measures (charity, environmental projects, etc.) are added to the social responsibility of business. The general question, however, is how should the law respond to corporate social responsibility measures? Consideration of corporate social responsibility measures in the general context of economic activity made it possible to develop a universal approach to legal regulation.

Discussion and Сonclusion. The article substantiates that the promotion of corporate social responsibility measures at the level of legal regulation should be determined by the needs of society, the lack of entrepreneurs’ own incentives and the difficulty of implementing social projects by public authorities. At the same time, legal norms can both directly provide for legal consequences when implementing certain measures and indicate the possibility of concluding vertical (managerial) agreements, allowing, at the level of individual regulation, to establish modes of activity for entrepreneurs when implementing certain measures of corporate social responsibility.

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About the authors

Anatolij V. Efimov

Russian State University of Justice

Author for correspondence.
Email: av_efimov@inbox.ru

Cand. Sci. (Law), Associate Professor of the Business and Corporate Law Department, Russian State University of Justice (69 Novocheremushkinskaya St., Moscow, 117418, Russian Federation)

Russian Federation, Moscow

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