Open Conference Systems, ICQQMEAS2015

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Sustainable Development and Corporate Social Responsibility within the Business Sector in Greece
Olga-Eleni Astara, Roido Mitoula, Christina Beneki

Last modified: 2015-09-24


Sustainable development has been systematically studied by researchers in the last 40 years and has renewed hope for citizens and state officials in the achievement of a growth which will not burden nor destroy but will rather protect natural and social resources to the extent that this will be possible and will yield a profit. Businesses adopted the term Corporate Social Responsibility (CSR) as they became increasingly aware of this change and in an effort to adapt to the tremendous pressure both by the globalized society and civil society. The present study aims at investigating the relationship between CSR and sustainable development in businesses which have adopted CSR by comparison to those which have not done so. The selection of businesses within our sample was made among those that are listed in the Athens Stock Exchange, inasmuch as the Stock Exchange reflects the business sector of each country and economy. More specifically, our study concerns the businesses listed in the Athens Stock Exchange for the years 2006-2012. Furthermore, what was studied was the relationship between sustainable development and the fields of action of CSR so as to demonstrate whether these two notions are linked or occur together within the business sector. It is proved that indeed the greatest part of businesses which implement sustainable development policies engage themselves in all four fields of action of CSR: workplace, market, community and environment. This also constitutes a very important finding because it confirms the cooccurrence of CSR, even unconsciously, with Sustainable Development within business activities, which is also corroborated by Keijzers (2000), Marrewijk (2003), and Montiel (2008) who agree that these notions appear to converge even if there are certain differences

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