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The issue: Over the last 20 years corporate social responsibility (CSR) has become one of the standard business practices. Despite the positivity and optimism that CSR brings to the corporate table, its relationship with the companies' insolvency are poorly investigated, leading to concern about its impact.Purpose: The author intends to assess the state of the art of disclosing social responsibility aspects of companies' insolvency as a case of CSR and seeks the answer for the question if the definite pension and wage benefits in case of corporate insolvencies should be included into management reports.Methodology: Literature sources and public domain data analysis, analysis of local and international legislative documents and other regulatory official papers, investigation of the practice of corporate social responsibility all around the world, consolidated financial statements of companies, etc. have been used to formulate conclusions. Comparative studies of Belarusian legislation and the relevant international wage and pension protection mechanisms and instruments were analysed for making more informed and well-argued conclusions and recommendations based upon these studies.Findings: Evidence shows that together with the employment issues, occupational health and safety aspects, training and education matters, etc. companies are expected to disclose such information as employees' and pensioners' claims in case of company insolvency through disclosing relevant non-financial information in management reports.Value: The research may be the basis for the further practical implementation of disclosure requirements on non-financial and diversity information in international guidelines and principles.

The issue: Over the last 20 years corporate social responsibility (CSR) has become one of the standard business practices. Despite the positivity and optimism that CSR brings to the corporate table, its relationship with the companies' insolvency are poorly investigated, leading to concern about its impact.Purpose: The author intends to assess the state of the art of disclosing social responsibility aspects of companies' insolvency as a case of CSR and seeks the answer for the question if the definite pension and wage benefits in case of corporate insolvencies should be included into management reports.Methodology: Literature sources and public domain data analysis, analysis of local and international legislative documents and other regulatory official papers, investigation of the practice of corporate social responsibility all around the world, consolidated financial statements of companies, etc. have been used to formulate conclusions. Comparative studies of Belarusian legislation and the relevant international wage and pension protection mechanisms and instruments were analysed for making more informed and well-argued conclusions and recommendations based upon these studies.Findings: Evidence shows that together with the employment issues, occupational health and safety aspects, training and education matters, etc. companies are expected to disclose such information as employees' and pensioners' claims in case of company insolvency through disclosing relevant non-financial information in management reports.Value: The research may be the basis for the further practical implementation of disclosure requirements on non-financial and diversity information in international guidelines and principles.

Purpose: This paper analyses the progress in extending disclosure of non-financial and diversity CSR information and seeks answer for the question if the definite pension and wage benefits in case of corporate insolvencies should be reflected in the management reports.Design/methodology/approach: Literature analysis, analysis of existing legislation and mechanism for the application of domestic law corresponded to EU directives and international guidelines and standards have been used to formulate conclusions. Сomparative studies of Belarusian legislation and the relevant international wage and pension protection instruments were analysed for making more informed and well-argued conclusions and recommendations based upon these studies.Research and practical limitations/implications: The theoretical framework of this paper is combined with analysis of the existing regulations on the protection of the rights of employees' and pensioners' claims in case of company insolvency.Findings: The conducted research suggests that together with implementation of diversity issues, employment issues, etc. of social and employee matters, companies are expected to disclose such material information as employees' and pensioners' claims in case of company insolvency through disclosing a relevant non-financial and diversity information in management reports.Originality/value: This article summarizes arguments behind the implementation of social responsibility aspects of companies' insolvency in the management reports. This research may be the basis for further practical implementation of disclosure requirements on non-financial and diversity information in international guidelines and principles.Paper type: research paper.

Purpose: This paper analyses the progress in extending disclosure of non-financial and diversity CSR information and seeks answer for the question if the definite pension and wage benefits in case of corporate insolvencies should be reflected in the management reports.Design/methodology/approach: Literature analysis, analysis of existing legislation and mechanism for the application of domestic law corresponded to EU directives and international guidelines and standards have been used to formulate conclusions. Сomparative studies of Belarusian legislation and the relevant international wage and pension protection instruments were analysed for making more informed and well-argued conclusions and recommendations based upon these studies.Research and practical limitations/implications: The theoretical framework of this paper is combined with analysis of the existing regulations on the protection of the rights of employees' and pensioners' claims in case of company insolvency.Findings: The conducted research suggests that together with implementation of diversity issues, employment issues, etc. of social and employee matters, companies are expected to disclose such material information as employees' and pensioners' claims in case of company insolvency through disclosing a relevant non-financial and diversity information in management reports.Originality/value: This article summarizes arguments behind the implementation of social responsibility aspects of companies' insolvency in the management reports. This research may be the basis for further practical implementation of disclosure requirements on non-financial and diversity information in international guidelines and principles.Paper type: research paper.

Der Autor betrachtet 'African business' innerhalb eines theoretischen Rahmens sozialer Verantwortung. Er skizziert verschiedene Bedrohungen von Gesellschaft und Umwelt und zeigt, daß vor allem Klein- und Mittelbetriebe die größte Bedrohung darstellen. Er fordert eine Sonderkommission der OAU, die nicht nur Empfehlungen an die afrikanischen Regierungen erarbeiten, sondern auch mit den multilateralen Entwicklungsagenturen neue Umweltstandards aushandeln soll. (DÜI-Sth)

The definition of social responsibility has often changed over the time. Differences in the economies of the United States of America (USA) and Europe have a strong impact on the social responsibility and stakeholders' expectations from socially responsible business (SRB). The economic sector of the USA makes a significant contribution to addressing social and development initiatives in the local community, while in European countries there is an expectation that the state will meet such needs. The globalization processes transfer American corporate culture all around the world, as well as the engagement in solving social problems in the communities in which they operate. The economic model of social responsibility puts the profit motivation into the first place and emphasizes that it is the most effective tool for solving the world problems. The new circumstances in which businesses operate and the fact that information are available always and everywhere have a strong influence on the evolution of the social responsibility model from the economic to the socio-economic model. The role of business is not just to make profit, but also to cooperate between companies and society, and a balanced benefit for all stakeholders. This work consists of three parts. The introduction describes a traditional and new approach to social responsibility and benefits for companies that operate under the principles of social responsibility. The second chapter outlines European Union (EU) guidelines on SRB while concluding remarks synthesize the benefits of social responsibility in modern business as well as the critiques of the model. This work is licensed under aCreative Commons Attribution-NonCommercial 4.0 International License.

The definition of social responsibility has often changed over the time. Differences in the economies of the United States of America (USA) and Europe have a strong impact on the social responsibility and stakeholders' expectations from socially responsible business (SRB). The economic sector of the USA makes a significant contribution to addressing social and development initiatives in the local community, while in European countries there is an expectation that the state will meet such needs. The globalization processes transfer American corporate culture all around the world, as well as the engagement in solving social problems in the communities in which they operate. The economic model of social responsibility puts the profit motivation into the first place and emphasizes that it is the most effective tool for solving the world problems. The new circumstances in which businesses operate and the fact that information are available always and everywhere have a strong influence on the evolution of the social responsibility model from the economic to the socio-economic model. The role of business is not just to make profit, but also to cooperate between companies and society, and a balanced benefit for all stakeholders. This work consists of three parts. The introduction describes a traditional and new approach to social responsibility and benefits for companies that operate under the principles of social responsibility. The second chapter outlines European Union (EU) guidelines on SRB while concluding remarks synthesize the benefits of social responsibility in modern business as well as the critiques of the model.

The definition of social responsibility has often changed over the time. Differences in the economies of the United States of America (USA) and Europe have a strong impact on the social responsibility and stakeholders' expectations from socially responsible business (SRB). The economic sector of the USA makes a significant contribution to addressing social and development initiatives in the local community, while in European countries there is an expectation that the state will meet such needs. The globalization processes transfer American corporate culture all around the world, as well as the engagement in solving social problems in the communities in which they operate. The economic model of social responsibility puts the profit motivation into the first place and emphasizes that it is the most effective tool for solving the world problems. The new circumstances in which businesses operate and the fact that information are available always and everywhere have a strong influence on the evolution of the social responsibility model from the economic to the socio-economic model. The role of business is not just to make profit, but also to cooperate between companies and society, and a balanced benefit for all stakeholders. This work consists of three parts. The introduction describes a traditional and new approach to social responsibility and benefits for companies that operate under the principles of social responsibility. The second chapter outlines European Union (EU) guidelines on SRB while concluding remarks synthesize the benefits of social responsibility in modern business as well as the critiques of the model. This work is licensed under aCreative Commons Attribution-NonCommercial 4.0 International License.