CORPORATE SOCIAL RESPONSIBILITY AS A PART OF CORPORATE GOVERNANCE

In the current globalization processes of the market economy, social responsibility is emphasized especially in transnational corporations. Corporate Social Responsibility is generally understood in the expert literature to be an individual discipline, but this is not accurate. The answer is offered by the Corporate Governance discipline that is based on two basic theory groups varying in interests of stakeholders that shall be preferred by the company. In the first group, the stakeholder theory supports the primary goal of the company and the second stakeholder theory considers also interests of other stakeholders. In this paper, we define the position of Corporate Social Responsibility in terms of the second theory group of the aforementioned discipline.