The Concept of Shared Value in the Theory of Sustainable Finance: An Analysis From the OECD Countries' Perspective

The Concept of Shared Value in the Theory of Sustainable Finance: An Analysis From the OECD Countries' Perspective

Katarzyna Cheba (West Pomeranian University of Technology, Poland) and Iwona Dorota Bąk (West Pomeranian University of Technology, Poland)
DOI: 10.4018/978-1-7998-1033-9.ch002
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The main purpose of this chapter is to identify the existing relations between the selected areas of sustainable development but carried out on the basis of the indicators describing the macroeconomic dimension of this development from the OECD countries' perspective. The theoretical basis for analyses is the concept of shared value, for the first time presented by Porter and Kramer in 2011. In this chapter, this proposition was applied to the studies carried out on the country level. For this purpose, the multidimensional statistical analysis was applied. The results of the study confirmed that on the current level of development, even in the case of the most developed countries, it is very difficult to find the shared space with the same level of development between these areas. In the same time, it is very important direction of further research and decisions undertaken on the macroeconomic level.
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Literature Review

In recent years, in the literature of the subject, more and more attention has been devoted to various types of corporate social responsibility concepts (Prahalad, Ramaswamy, 2004; Chapple, Moon, 2005; Aguilera, Rupp, Williams, Ganapathi, 2007; Carroll, 1991, 2008, 2015; Lindgreen, Swaen, Campbell, 2009). In the literature from early years of the twenty-first centuries the various business theories and models related to the long-term sustainable approach for inclusive growth started to appear, namely: sustainable value (Hart, Milstein, 2003; Laszlo, 2008), blended value (Bonini, Emerson, 2005), and firm-value maximization (Jensen, 2001). This interest is, among others, the effect of the crisis of social trust in commonly used corporate practices, very often focused primarily on maximizing profits for investors. Of course, many of today's corporations are also involved in social activities; however, it is usually classified as: cost in the company's budget, possibly charitable activity that can be deducted from the tax base, investment in the company's image or some kind of necessary expenditure, which lack can lead to break off business contacts.

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