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Article

Corporate social responsibility in Russian Banking industry

Prosvirkina E. Y.

Though there is a perception among managers that corporate social responsibility (CSR) is an important part of today business activity and it positively influences the organizational performance, several research conducted in 1970-2010s did not find any correlation or even found a negative one. In order to analyze the relationship between CSR and organizational performance of business organizations in Russia, the research among Russian banks was conducted. The sample of the research consists of fifty largest banks. The data on organizational performance, including total assets, return on assets and equity, earnings per share, and growth indexes was collected in annual reports of the 2011 year of banks. Information about corporate social responsibility was gathered in social reports, codes of ethics, and on websites of banks. The research demonstrates that the majority of banks in Russia are involved in CSR projects, but it did not find statistically significant correlation between corporate social responsibility and organizational performance of banks.