Importance The article focuses on the institutionalization of Corporate Social Responsibility (CSR). Objectives The research pursues substantiating the growing importance of institutional framework for setting up and developing CSR in Russia and finding appropriate measures contributing to institutionalization of socially responsible behavior of national businesses. Methods The methodological framework of the research is based on general scientific methods of cognition (dialectical method, combination of historical and logic unity, empirical generalization, structural and functional analysis, conventional techniques of economic analysis and synthesis), specific methods for evaluating trends and intensity of CSR institutionalization processes (expert assessments). The research also employs systems analysis tools. Results I determined institutional capabilities and premises for creating and developing CSR in Russia. The research illustrates the growing importance of institutionalization that allows achieving positive results in socio-economic activities of contemporary business entities and increasing the efficiency of economic processes. I studied the practice of institutional transformations for developing CSR, determined measures facilitating the institutionalization of CSR in modern Russia. Conclusions and Relevance I conclude that institutional transformations in CSR of business should meet 'civilized' rules of business. It is important to revise views of authorities, since CSR implies necessary standards and rules of social partnership, i.e. combined operation and development of private, public and non-profit sectors. They respectively produce social vector within economic system at the micro-, meso-and macrolevels.
Keywords: institute, business, institutionalization, corporate social responsibility, responsible financing
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