Corporate social responsibility and environmental management linkage: An empirical analysis of the Slovak Republic

Abstract

Sustainability describes a means to satisfy the needs of today's generation without causing suffering to the needs and standards of living of future generations. The concept of sustainability consists of three pillars: economic, environmental, and social. The purpose of this study is to find a link between Corporate Social Responsibility and the Environmental Management System and its impact on the economic results of the researched companies. Many companies expect to increase their profits through Corporate Social Responsibility behavior and Environmental Management System certification. Based on an analysis of data collected from 200 of the largest firms operating in various industries in the Slovak Republic, we observed the implications of these two management tools and their impacts on the economic results of these companies. To verify individual hypotheses, we use well-established methods, specifically the Pearson Chi-square test, the Mann-Whitney U test, and the Kruskal-Wallis test, along with the Statistica software. The results suggest a relationship between the incorporation of these two management tools and that incorporation of the Corporate Social Responsibility has an impact on company profit. This work contributes to the literature on sustainability, corporate social behavior, and environmental certification in firms operating in various sectors of the national economy.