Public health and corporate social responsibility: exploratory study on pharmaceutical companies in an emerging market
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(2020) 16:117
RESEARCH
Open Access
Public health and corporate social responsibility: exploratory study on pharmaceutical companies in an emerging market Tatiana Dănescu1†
and Maria-Alexandra Popa1,2*†
Abstract Background: Corporate social responsibility (CSR) is studied from many perspectives and has gained unprecedented importance in recent years, especially in emerging economies. Pharmaceutical companies play a very important role in a population’s well-being and health through the CSR and corporate governance practices that they apply. Methods: We used an exploratory approach to measure compliance with the Corporate Governance Code of pharmaceutical companies listed on the Romanian capital market and with practices declared through CSR. Results: The results show that pharmaceutical companies are involved in actions that consider the well-being of society by offering financial support and managing various sustainable projects, targeting social and economic issues, leading public health awareness campaigns, and investing in health projects. Conclusion: This study highlights the increasingly important role played by corporate governance and corporate social responsibility in pharmaceutical companies in improving public health in countries with emerging economies. Keywords: Pharmaceutical companies’ compliance, Global health, Emerging markets, Corporate social responsibility
Introduction Corporate social responsibility (CSR) is defined by the International Organization for Standardization (ISO) as a way in which companies can address and manage social, economic and/or environmental issues for the benefit of communities and as involving actions related to human rights, environmental issues, social inclusion and other related concerns [1]. CSR is a concept that refers to the * Correspondence: [email protected]; [email protected] † Tatiana Dănescu and Maria-Alexandra Popa contributed equally to this work. 1 „George Emil Palade”, University of Medicine, Pharmacy, Science and Technology of Targu Mures, 38 Gheorghe Marinescu, 540139 Târgu-Mureș, Romania 2 ,,1 Decembrie 1918” University of Alba Iulia, 5 Gabriel Bethlen, 510009 Alba Iulia, Romania
presumptive debt that companies as social actors have towards all parties involved in achieving their economic activity. Additionally, the role of CSR is to contribute to societal goals, such as philanthropic or charitable objectives, through ethically oriented practices [2], though how adequately this is achieved is debated [3]. In general, our society faces many serious problems such as poverty, disease and environmental destruction, among others. It is proven that some economic systems have undesirable effects on public health [4]. Large corporations have been frequently studied by researchers interested in analyzing their behavior in improving social problems [5]. While such corporations are not legally required to address social issues, the resources available to
© The Author(s). 2020 Open Access This article is licensed under a Creative Commons Attributio
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