Corporate Governance and Corporate Social Responsibility Synergies: A Systemic Approach

Jelena Nikolić, Dejana Zlatanović


Respecting the importance of corporate governance (CG), particularly various
corporate governance mechanisms for improving corporate social responsibility
(CSR) activities, the paper highlights relevant CG–CSR synergies from the
perspective of systems thinking. The paper further aims to demonstrate the
ways in which selected systems methodologies can support CG–CSR synergies.
Accordingly, we selected appropriate systems methodologies, such as dialectical
systems theory, soft systems methodology, and system dynamics. We defined the
dialectical system, consisting of essential corporate governance mechanisms,
which contribute to CSR; we also identified the key stakeholders and their
perceptions of CG–CSR relations through CATWOE analysis; thus, the appropriate
root definition and conceptual model, including the activities that are relevant
for CG–CSR relations, were developed. Developed systemic framework provided
a relevant methodological support to highlight the various issues of corporate
governance, such as institutional framework, market for corporate control,
ownership structure, board structure, and their contribution to CSR.

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