Evaluation of the efficiency of social investments of metallurgical enterprises according to the decoupling approach

Анотація

Purpose. To develop a comprehensive methodology for assessing the effectiveness of social investment of metallurgical enterprises by a decoupling approach, which facilitates to form a clear idea of the investors intentions to support socially important initiatives and to make a realistic portfolio in terms of achieving the impact goals. Methodology. During the present research, the statistical methods of time series processing and correlation-regressive analysis are used in determining the dependence of the Decoupling Factor of social values on the amount of capital investment to create them. Decoupling analysis is applied in assessing the effectiveness of social investments of Metinvest Holding and the formation of its portfolio in terms of achieving impact goals. Strategic analysis is put to use in forecasting the effectiveness of social investment Metinvest Holding on the medium perspective. Findings. It is stated that the strategic orientation of transformational changes in the economy is currently the sustainable development of industrial enterprises, the achievement of which, in particular, is possible with the consistent application of the arsenal of fair working conditions, professional growth and welfare of employees, among which social investment has become widespread in foreign practice. The international standards on corporate social responsibility of companies are analyzed and the content component of the concept of social investment is revealed according to the functional approach. Emphasis is placed on the need to assess the effectiveness of social investment by the decoupling approach. The essence of the decoupling and its significance in the process of social investment are revealed. The authors method for evaluating the effectiveness of social investment by the decoupling approach is proposed. The classification of decoupling effect types according to P.Tapio has been modified by distinguishing types of social-decoupling effect. The expediency of supplementing GRI400 Social Standards with the group of indicators GRI-420 Efficiency of Social Investments is substantiated. Originality. The theoretical and methodological provisions in the field of social investment are deepened by developing an authors methodology for assessing the effectiveness of social investment by decoupling approach. In contrast to the existing transformational changes in the economy, the methodology helps to make a clear understanding about the investors intentions and his/her realistic portfolio in terms of achieving the set impact goals. Taking into account the requirements of the UN Resolution Transforming our world: the 2030 Agenda for Sustainable Development, the ISO 26000 Social Responsibility Guide (2010) and the AA1000 AS Social Reporting Standard, it is proposed to supplement GRI-400 Social Standards with a group of indicators for assessing the effectiveness of social investment by the decoupling approach. Practical value. The scientific results on assessing the effectiveness of social investment of industrial enterprises by the decoupling approach should be used in making management decisions to invest capital in improving the working conditions of employees.

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