CSR in South Europe during the financial crisis and its relation to the financial states of Greek companies

This paper aims at presenting the notion of corporate social responsibility (CSR) in Europe by examining its application in Southern European countries, Greece, Italy, Spain and Portugal, thus, consisting of the major Mediterranean countries not only in terms of proximity but also sharing common features, were at the center of the financial crisis in Europe in 2009. The aforementioned countries are under examination on the one hand as members of Europe, which is the Mediterranean and on the other hand as independent ones. Additionally, the complexity of CSR is presented, its aspects through time, its diversity depending on the geographical position as well as its methods of evaluation. The longitudinal contrastive analysis is the starting point for further improvement as the countries, except for Portugal, are fluctuating within low levels and the Mediterranean in average ones. Furthermore, the examination of the financial state of the Greek companies within the 2015-2016 period, confirms the majority of the literature that the adoption of CSR’s good practices contributes, even partly, to the development of their effectiveness. As a conclusion, the structure of a commonly acceptable measurement model of the National Social Responsibility and the longitudinal measurement will be a useful tool for all involved institutions, with immediate results to both the society and the companies