Socially responsible investing as a part of the Russian companies GR-strategy

Introduction: in modern Russia more and more corporations endorse a social responsibility stand, utilizing it not only “within” the organization, but also for the society on the territory of their presence. What motivates businesses to participate in resolving social problems? Do power structures play an important role in this process? Objectives: to identify the relationship between socially responsible investing and GR-activity of Russian companies. Methods: cross-case analysis and discourse analysis. Several large Russian companies that were included in the so-called “Belousov list” were selected for study. Among these companies, we selected those that have their own corporate funds or social programs, as well as representatives in regional legislatures. The sample included Severstal, Magnitogorsk Iron and Steel Works, EVRAZ, Norilsk Nickel, SUEK and ALROSA. Results: socially responsible investing in Russia is related to the GR-activity of companies. All the corporations studied have special departments responsible for interaction with the authorities. Their functions also includes corporate social responsibility and social policy issues. Companies have their own social programs, charitable foundations, agreements signed with regional authorities, as well as representatives in regional legislatures. Conclusions: socially responsible investing has a return effect; however, this is not only social or financial effect. Business receives a number of preferences from the government in exchange for its social activities, while insufficient business activity in social sphere may lead to sanctions from the authorities.