INSTITUTIONALIZATION AND DEVELOPMENT OF SOCIALLY RESPONSIBLE PRACTICES IN EMERGING COUNTRIES:AN OVERVIEW

Abstract

Emerging countries, often experiencing rapid economic growth and industrialization, face unique challenges and opportunities in integrating socially responsible practices within their corporate and social frameworks. Socially responsible practices, encapsulated in the broader concepts of Corporate Social Responsibility (CSR) and socially responsible investment (SRI), involve companies operating in a way that enhances societal well-being and environmental sustainability while maintaining economic profitability. The institutionalization of these practices is crucial for fostering sustainable development in these rapidly transforming economies.

The aim of this research paper is to analyze the institutionalization process and the development of socially responsible practices in emerging country context. As opposed to the neo-institutional sociology perspective, we approach socially responsible practices, as corporate social responsibility (CSR) or socially responsible investment (SRI), not as concepts, but rather as forms of values. From an empirical point of view, this research focuses on the institutionalization/development of socially responsible practices in emerging country given example of somes and initiatives deployed to promote corporate social responsility in company, as well as the benefits of adopting these practices in this context.