Object of research: the process of functioning of social responsibility of corporations in socially oriented economics; the purpose of the work: the generalization and further development of theoretical and methodical propositions, development of practical recommendations for increasing corporate social responsibility in the system of social and labor relations; research methods and instruments: methods: monographic, analysis and synthesis, induction and deduction, classification and analytical, expert estimations method, graphic method, system and statistical analysis; theoretical and practical results: main components of the institute of corporate social responsibility in the system of social and labor relations, singling out formal and informal institutional norms, the generation of the chain of values of social responsibility and the hierarchical sequence of basic stakeholders of the corporation; the definition of the concept of social responsibility of corporations as a social and economic institution that functions as an open system of the interaction between the corporation and its stakeholders that helps reducing transaction costs, settlement of conflicts of interests and the corporation acquiring sustainable competitive advantages through the use of social investments, social reports, social partnership, dividend policy and corporate communications, determining the corporation dividend policy which is directed to optimizing consumption and capitalized parts of profit with the purpose of taking into account the interests of parties concerned and sustainable development of the corporation as a tool of its social responsibility, a component of the organizational participation culture and corporate governance, the methodical approach to determining the qualitative state of CSR in the system of social and labor relations, the methodical approach to the quantitative evaluation of the corporate social responsibility state in the system of social and labor relations, specification and content of the main functions of corporate social responsibility, the methodical recommendations for preparing social reports of corporations; subject and extent of introduction: developments are introduced into practical activity of Central Department of Labor and Social Protection of Cherkassy Region State Administration, the branch of close corporation "Kyivstar GSM" in the city of Dnepropetrovsk, Cherkassy Region Association of Collective Farm Markets of Region Consumers' Union, Cherkassy Region Union of Cooperative Societies, Cherkassy State Technological University in teaching disciplines "Corporate Governance", "Management of Organizations", "Human Resources Management", Cherkassy branch of Private Higher Educational Establishment "European university" in teaching disciplines "Economics and Organization of Enterprises Associations Activity", "Basics of Corporate Governance"; sphere of the use: social responsibility of corporations, educational process
