how does CSR affects government expenditures?
Answers
Answer:
Higher share of CSR firms in the economy means higher economic growth. Business performance of CSR firms positively affects economic growth and their associated share in growth is 6% for 25 economies included in the panel.
Answer:
Studies have shown that CSR creates social value and improves social welfare, which constitutes the main goals of government policy. It seems natural, therefore, to encourage greater collaboration between the public and private spheres as their objectives are often complementary.
They encompass voluntary principles and standards for responsible business conduct consistent with applicable laws and internationally recognized standardsthat aim at: guaranteeing the harmonization of business operations with government policies, strengthening the basis of mutual confidence between business.
Explanation:
Government may provide tax incentives and penalties to promote responsible business; ensure business can access information needed; facilitate understanding of minimum legal requirements for issues relating to responsible business practice; include CSR elements in related policy areas.