Publication detail

Socially responsible activities and the economic performance of family businesses

SRBOVÁ, P. REŽŇÁKOVÁ, M. TOMÁŠKOVÁ, A.

Original Title

Socially responsible activities and the economic performance of family businesses

Type

journal article in Web of Science

Language

English

Original 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.

Keywords

business performance; corporate social responsibility; Czech Republic; family business; micro-, small- and medium-sized enterprises

Authors

SRBOVÁ, P.; REŽŇÁKOVÁ, M.; TOMÁŠKOVÁ, A.

Released

15. 6. 2023

Publisher

EnPress

ISBN

2572-7931

Periodical

Journal of Infrastructure Policy and Development

Year of study

7

Number

1

State

United States of America

Pages count

19

URL

https://systems.enpress-publisher.com/index.php/jipd/article/view/1958

Full text in the Digital Library

http://hdl.handle.net/11012/213644

BibTex

@article{BUT184037,
  author="Pavla {Srbová} and Mária {Režňáková} and Andrea {Tomášková}",
  title="Socially responsible activities and the economic performance of family businesses",
  journal="Journal of Infrastructure Policy and Development",
  year="2023",
  volume="7",
  number="1",
  pages="19",
  doi="10.24294/jipd.v7i1.1958",
  issn="2572-7931",
  url="https://systems.enpress-publisher.com/index.php/jipd/article/view/1958"
}