Socially responsible activities and the economic performance of family businesses
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Date
2023-06-15
Authors
Srbová, Pavla
Režňáková, Mária
Tomášková, Andrea
0000-0003-4076-9829Advisor
Referee
Mark
Journal Title
Journal ISSN
Volume Title
Publisher
EnPress
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Abstract
Promoting the idea of socially responsible business is an undeniably important topic that resonates in both theory and practice. Its influence on business performance has been theoretically substantiated and has been confirmed in many empirical studies, though this has been based on research conducted in large companies. It is only recently that studies connecting the principles of CSR and the business activities of SMEs or family businesses that make up a decisive proportion of SMEs have appeared. This article is devoted to research into the implementation of the principles of CSR in family businesses and their economic performance. The research was conducted on the basis of data obtained both from a questionnaire survey among owners of family businesses and from accounting data. The attitudes of owners of family businesses towards activities typical of CSR were proven to be reflected in the economic results of the companies in a sample of Czech family MSMEs. Our research proved that family businesses that support work-life balance and good relations with employees achieve better performance, namely higher profitability and lower indebtedness. These results confirm the positive impact of CSR principles on long-term sustainability of family businesses and their importance to the country’s overall economy.
Description
Citation
Journal of Infrastructure Policy and Development. 2023, vol. 7, issue 1, 19 p.
https://systems.enpress-publisher.com/index.php/jipd/article/view/1958
https://systems.enpress-publisher.com/index.php/jipd/article/view/1958
Document type
Peer-reviewed
Document version
Published version
Date of access to the full text
Language of document
en
Study field
Comittee
Date of acceptance
Defence
Result of defence
Document licence
Creative Commons Attribution-NonCommercial 4.0 International
http://creativecommons.org/licenses/by-nc/4.0/
http://creativecommons.org/licenses/by-nc/4.0/