Factors determining the implementation of corporate social responsibility in the SME segment in the V4 region
Factors determining the implementation of corporate social responsibility in the SME segment in the V4 region

Summary/Abstract: Research background: Although experts emphasise the indisputable importance and influ-ence of small and medium-sized enterprises (SMEs) in the economy, many authors highlight the need for further development of the corporate social responsibility (CSR) concept withinthe context of SMEs. Most empirical studies focus on the perception of CSR from the perspec-tive of customers, employees, or other stakeholders, while the perspective of entrepreneursremains largely unexplored.Purpose of the article: This study aims to identify and quantify the impact of selected factors,such as business ethics (BE), human resource management (HRM), financial management(FM), and environmental aspects (EA), on the willingness of SMEs to implement CSR in theV4 region.Methods: The attitudes of SME owners and top managers of SMEs were examined usingcomputer-assisted web interviews. Data were collected in June 2022 from a sample of 1,396SMEs within the V4 region. Quantitative methods, including factor analysis and structuralequation modelling, were used to evaluate the hypotheses.Findings & value added: All examined factors, including BE, FM, HRM, and EA, are signifi-cant determinants that positively influence the level of CSR implementation in the SME seg-ment. Among these, the perceptions of owners and top managers regarding EAs exert themost substantial positive impact on CSR implementation, followed by HRM and FM, eachwith a moderately positive effect. BE has the least positive impact on CSR. These findingscontribute valuable insights that can inform the effective implementation of CSR and offerpractical implications for academics, institutions supporting SMEs, and policymakers.

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