TRENDS IN THE AREA OF RESPONSIBILITY AND JUSTICE IN THE ACTIVITIES OF ENTERPRISES: IMPLICATIONS FOR THE V4 COUNTRIES

Purpose: In the era of globalization, internationalization of enterprises, liberalization of international trade and the increasing division of the world into countries of the rich North and the poor South, the ideas of responsibility and justice in business operations are permanently present. The objectives of this study are as follows: the characteristics of the role of transnational corporations in raising the level of the stratification of society in the rich North and the poor South and an attempt to develop recommendations for the V4 countries as for the development of corporate social responsibility, responsible investment and fair trade. Design/methodology/approach: Empirical analysis was conducted on the data collected from The Fortune Global 500 List 2016, Report on US Sustainable, Responsible and Impact Investing Trends, Fairtrade International Annual Reports, EUROSIF and other sources. Time series analyzes were made to fulfil research aim. The descriptive method was used to develop recommendations for the V4 countries. Findings: This paper presents global and European trends and developments in described area, and lessons learned for the V4 countries. The study covers the period 2004-2015, which will allow to analyze the phenomena, both before and during the economic crisis. Research/practical implications: Developing social responsibility, responsible investment and promoting the fair-trade movement in Poland, the Czech Republic, Hungary and Slovakia can contribute to the initiation of changes to the rules governing the world today and starting a new era in fairer trade on the international level. Originality/value: The proposal to increase cooperation of the V4 countries in the area of the three described processes in order to fight against illegal labor migration which is increasingly taking place in the European Union.