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Публікація CSR in the construction industry: a critical review of conceptual and methodological frameworks(Національний технічний університет "Харківський політехнічний інститут", 2024-02-14) Nashchekina, O. M.; Tymoshenkov, Ihor Vladyslavovych; Ovsepіan, RuzanaThe construction industry plays a vital role in the socio-economic development of any society. At the same time, the industry produces adverse social and environmental effects, which makes the adoption ofcorporate social responsibility (CSR) by construction companies especially relevant. For CSR management and research purposes, the abstract concept of CSR should be described in a structured and specific way, using certain conceptual and methodological frameworks. The goal of this article is to provide a critical review of the CSR frameworks used in academic literature on CSR in the construction industry and in CSR-related standards. We discuss CSR in terms of the industry-specific material topics proposedin the SASB standards. In particular, we show the importance of life cycle analysis for the construction industry,taking into account the nature of its products. We also show that the CSR of construction companies extends to the environmental impact not only of their own production activities but also of their construction products(buildings, infrastructure objects). We demonstrate that the LEED rating and certification system provides a comprehensive framework for such an important aspect of CSR as green building. In the academic and business literature, broad dimensions of CSR are often defined using the corporate sustainability and ESG concepts, and then narrower, specific topics are identified within each for those dimensions. We summarize such specific topics along economic, social, environmental, and governance dimensions. An alternative approach to defining the dimensions of CSR is through identifying the interests of stakeholders. The most common groups of stakeholders of construction companies referred to in the literature are shareholders, employees, customers, local communities, suppliers and partners, government, competitors, environment. CSR in the construction industry is shaped by external factors, which we categorize into mandatory rules, social pressures, the CSR infrastructure, market pressures, and technological factors. We introduce the CSR infrastructure as a separate external factor because of its scope and role in promoting CSR and removing barriers to its adoption. We stress the role of technological innovations and green building practices in the CSR implementation in the construction industry. The internal factors that stimulate or impede the adoption CSR by a construction company include the company’s values, vision, culture, strategies and the leadership. We emphasize the importance for the construction industry to use a holistic approach to CSR, considering the impacts within the entire value chainПублікація The impact of csr on financial performance: controversial empirical evidence and reasons behind it(Національний технічний університет "Харківський політехнічний інститут", 2023) Nashchekina, O. M.; Koptieva, Hanna Mykolayivna; Tymoshenkov, Ihor VladyslavovychBusiness case for corporate social responsibility (CSR) is becoming increasingly relevant today because it allows companies to align interests of different groups of stakeholders through creating a shared value. To integrate CSR in a company's business model effectively, it is important to understand the relationship between CSR and financial performance. However, a large number of studies on the impact of CSR on a company's bottom line have yielded controversial results. The goal of this article is to provide an overview of discrepancies in the results of empirical studies on the relationship between CSR and financial performance reported in the literature and summarize the reasons and methodological issues underlying the lack of consensus regarding this relationship. We show that most authors observed a positive impact of CSR on financial performance, however some authors reported a negative, U-shaped, inverted U-shaped, and S-shaped relationships, as well as the absence of any impact of CSR on financial performance. The discrepancy in the results can be related to a multidimensional and heterogeneous nature of CSR, and hence, to the lack of uniformity in measuring it. Similarly, financial performance can also be measured through a variety of indicators, both accounting- and market-based. The differences in the measurement methodology make the results of different studies less comparable. The relationship between CSR and financial performance can also depend on the approach to CSR used by companies. If CSR serves as an instrument for wealth creation, its impact on financial performance should be positive by definition. If CSR is based on purely ethical considerations, it may be merely a cost-center with no economic benefits. The relationship between CSR and financial performance can be weakened or strengthened by a large number of external and internal situational factors, such as the institutional environment, industry dynamism, company size, form of ownership and many others that can have a moderating effect on the relationship. The causality within this relationship can be bidirectional and result in a virtuous cycle, but it can also be reversed and asymmetrical. The ambiguity of the results reported in the literature can be connected with a delayed effect of CSR on financial performance, when it takes some time for investments in CSR to pay off in terms of financial benefits.Публікація Aligning the Interests of Business and Society: Shared Value, Integrated Value, And Corporate Social Responsibility(Видавничий дім "Інжек", 2020) Nashchekina, O. M.; Nwafor, Franklin Nnemeka; Tymoshenkov, I. V.The evolution of CSR is largely the history of reconciling economic goals of business and social goals of society. Relatively recent CSR related concepts “creating shared value” (CSV) and “integrated value creation” (IVC) aim at aligning interests of business and society by producing economic and social value simultaneously. The purpose of this article is to compare the CSV and IVC concepts and show their relation to CSR. In particular, we discuss whether CSV and IVC can be regarded as substitutes for CSR, varieties of CSR or completely new paradigms, and come to the conclusion that the positioning of both concepts depends on how broadly CSR is defined. We summarize major criticisms of the CSV concept and provide our own vision of the strengths and limitations of both concepts, showing why at least the CSV concept cannot supplant CSR. Comparing CSV and IVC, we focus on the differences between them and show that IVC represents a more fundamental shift in business philosophy and aims at a deeper and system-wide rather than local and fragmentary integration within society. We maintain that the CSV and IVC ideas can and should be used in strategic planning as inspiration for innovative thinking, as guidelines for increasing business competitiveness and societal well-being. We also point out the need for refining methodological frameworks for the practical implementation of the CSV and IVC ideas.