Rethinking of the Practical Existence of the Corporate Social Responsibility in Georgia – Peer Review on Its Promotion via Georgia-EU Association Agreement

Abstract

The scholarly article aims to give objective coverage of corporate social responsibility enhancement through the promotion of employee financial participation schemes in Georgian corporate practice. According to the “Association Agreement between the European Union and the European Atomic Energy Community and their Member States, of the one part, and Georgia, of the other part” corporate social responsibility is supposed to be promoted through an employment policy and social protection of employees, which consequently holds with the idea of alteration of corporate governance standards in Georgia. Due to the unsustainable level of Georgian stock market development and corporate practice, authors deem employee participation as an appropriate and relevant model in support of corporate social responsibility. With the aim of comparison, an analysis of foreign regulations is also represented.