20.500.12556/DKUM-95571 Can corporate social responsibility contribute to bankruptcy prediction? evidence from Croatia Can corporate social responsibility contribute to bankruptcy prediction evidence Hrvaške Background/Purpose: Companies are becoming aware of the fact that corporate social responsibility (CSR) is becoming the imperative of their sustainable business model despite the potential costs it could generate. Researchers are mostly focused on estimating the relationship between CSR and financial performance where most of the findings indicate their positive relationship. This paper expands existing research and focuses on the relationship between CSR and the risk of bankruptcy using the data from 102 midsize and large companies from non-financial sectors using the data for four years. Research expands existing studies on the EU level according to the fact that most of the existing studies are performed among US companies. Method: Descriptive statistics and SEM-PLS methodology was used to compare and analyze financial data with data collected from 7 groups of stakeholders. Results: Research results indicate that the relation between CSR and the risk of bankruptcy is negative. Conclusion: Becoming a socially responsible company is in the best interest of all stakeholders because CSR activities contribute to financial stability and maintenance of going concern assumption. Ozadje in namen: Podjetja se zavedajo, da družbena odgovornost podjetij postaja imperativ njihovega trajnostnega poslovnega modela kljub morebitnim stroškom, ki bi jih lahko povzročila. Prejšnje raziskave s tega področja so večinoma osredotočene na ocenjevanje razmerja med družbeno odgovornostjo podjetij in finančno uspešnostjo, kjer večina ugotovitev kaže na njun pozitiven odnos. Pričujoča raziskava razširja obstoječe raziskave in se osredotoča na razmerje med družbeno odgovornostjo podjetij in tveganjem bankrota z uporabo podatkov pridobljenih na 102 srednje velikih in velikih podjetij iz nefinančnih sektorjev. Raziskava se osredotoča na področje EU, kar tudi doprinaša k obstoječim raziskavam, saj je večina obstoječih študij narejena med podjetji iz ZDA. Metode: Opisna statistika in metodologija SEM-PLS je bila uporabljena za primerjavo in analizo finančnih podatkov s podatki, zbranimi od sedmih skupin deležnikov. Rezultati: Rezultati raziskave kažejo, da je povezava med družbeno odgovornostjo in tveganjem bankrota negativna. Zaključek: Postati družbeno odgovorno podjetje je v interesu vseh deležnikov, saj dejavnosti družbene odgovornosti prispevajo k finančni stabilnosti in ohranjanju predpostavke delujočega podjetja. corporate social responsibility bankruptcy prediction Altman Z’ score SEM-PLS methodology management podjetja družbena odgovornost bankrot Hrvaška true true true Angleški jezik Slovenski jezik Neznano 2025-09-26 13:49:43 2025-09-26 13:49:43 2025-10-07 09:06:40 0000-00-00 00:00:00 2023 0 0 str. 173-183 iss. 3 Vol. 56 2023 0000-00-00 NiDoloceno NiDoloceno NiDoloceno 0000-00-00 0000-00-00 2023-01-01 005.336.1:347.736(497.5) 200290563 10.2478/orga-2023-0012 1318-5454 https://organizacija.fov.um.si/index.php/organizacija/article/view/972/1779 1 e52195b7-9ace-11f0-9a69-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=199272 RAZ_Galant_Adriana_2023.pdf RAZ_Galant_Adriana_2023.pdf 1 72AF25F09D9159D17CE4867F5ECE0BD9 377164e962bece105eb03ad58ae7674cc55e72a699d57ea7d21313f3bdace8bc 371b5888-9acf-11f0-9a69-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=199273 Fakulteta za organizacijske vede Organizacija 0 0 0