The relationship between corporate social responsibility and corporate governance

The concept that allows the balance between economic, social and environmental goals (as a concept of corporate social responsibility) represents a widely accepted business practice in the developed countries of the world. The growing demands of the business have pointed to the shortcomings of the management concepts that have been focused exclusively on profit. For these reasons, the problems, interests, and goals of the broader groups of stakeholders should be the components of a company's business and must be an integral part of corporate governance. The aim of the paper is to determine the relationship between corporate social responsibility (CSR) and corporate governance. The subject of research is the concepts of CSR and corporate governance, as well as their interconnectedness. The methodology includes an analysis of the available previous research results. The results of theoretical research indicate that there is a relation between both concepts, but that the link is not unambiguous.