Transformations  in
Business & Economics

SOCIAL CAPITAL AS A CAUSE AND CONSEQUENCE OF CORPORATE SOCIAL RESPONSIBILITY
Jolita Vveinhardt, Regina Andriukaitiene, Luis Miguel Cunha

ABSTRACT.The article deals with the links of social responsibility and social capital. It aims to analyse the connection of social responsibility and social capital, providing guidelines for the development of social responsibility by solving the following tasks: to define the concept of social responsibility, highlighting the features of the private and public sectors; to analyse the role of social capital regarding individual and organizational aspects; after determining the connection between social capital and social responsibility of organizations, to evaluate the opportunities of development of social responsibility. In the first part of the article the concept of social responsibility is defined, the content of the relationship between stakeholders is revealed, highlighting the differences of responsibility in the private and public sectors, and the situation in Lithuanian companies is discussed. In the second part the content and forms of social capital are discussed and connections with social responsibility are determined. It is concluded that social responsibility in the context of social capital can be identified as a value of moral and material capital of stakeholders created by mutual trust, which should be expanded in the development of trust and mutual commitment of stakeholders.

KEYWORDS: corporate social responsibility, stakeholders, capital, social capital, ethics, Lithuania.

JEL classification: M14, M19.