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Dr. Krisztina Szegedi
Budapest Business School, Hungary

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Research Keywords & Expertise

0 Business Ethics
0 Code of Ethics
0 Corporate Social Responsibility
0 Corporate Sustainability
0 CSR

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Corporate Social Responsibility
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Business Ethics
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Short Biography

Krisztina Szegedi, PhD, is Vice Rector for Research of Budapest Business School, Chair of BBS’s Ethics Committee and an associate professor. She has experience in the field of CSR, business ethics and corporate sustainability both as a researcher/lecturer and as a practitioner/consultant. She has more than 150 publications in these research areas. She was the independent Chairperson of MOL Group Ethics Council for 12 years. At BBS her responsibilities include managing the university's research activities and ethics management system, the teaching of corporate sustainability-related courses and coordinating international projects. Her recent publications include Corporate Social Responsibility and Financial Performance: Evidence from Pakistani Listed Banks (Sustainability, 2020).

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Case report
Published: 17 August 2021 in Sustainability
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The 2020–2021 global pandemic has brought significant changes to social and economic life. Companies must begin to rethink their business models and values to meet these new challenges. Given the process of intermediation, which has an indirect and catalytic impact, banks have a responsibility and opportunity to transform the economy by, for example, lending to projects that encourage decarbonization and/or green energy. The purpose of this paper is to examine the MagNet Hungarian Community Bank’s approach as a values-based bank in order to compare how the operation of the bank differs from that of traditional ones—even if these apply the Corporate Social Responsibility approach. The findings of an exploratory study of MagNet’s responsible and sustainable way of doing business can help other sectors and companies cope with the global crisis and be a part of the transition to an inclusive, fair, and decarbonised economy. The data for this study were collected using semi-structured interviews with eleven bankers and three customers of MagNet Bank in 2019, as well as bank documents. Using this information, we created a business model for the bank, using the Business Model Canvas method. Within the business model we highlighted how MagNet Bank integrates principles of the Global Alliance for Banking on Values, with the aim of truly integrating sustainability into the core of their corporate genetic makeup, instead of as a partial or insincere measure. With the projection of the models onto each other, we emphasize the role of values in the business model. The combination of the models indicates potential learning points for the further development and long-term success of the bank and serves as an example of good practices for others. This is especially relevant when considering the greater need for improved crisis and risk management due to the pandemic and for the integration of sustainability considerations into business operations which have increased the impetus in the financial sector towards sustainability.

ACS Style

Zsuzsanna Győri; Yahya Khan; Krisztina Szegedi. Business Model and Principles of a Values-Based Bank—Case Study of MagNet Hungarian Community Bank. Sustainability 2021, 13, 9239 .

AMA Style

Zsuzsanna Győri, Yahya Khan, Krisztina Szegedi. Business Model and Principles of a Values-Based Bank—Case Study of MagNet Hungarian Community Bank. Sustainability. 2021; 13 (16):9239.

Chicago/Turabian Style

Zsuzsanna Győri; Yahya Khan; Krisztina Szegedi. 2021. "Business Model and Principles of a Values-Based Bank—Case Study of MagNet Hungarian Community Bank." Sustainability 13, no. 16: 9239.

Journal article
Published: 10 October 2020 in Vezetéstudomány - Budapest Management Review
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ACS Style

Sára Csillag; Zsuzsanna Géring; Zsuzsanna Győri; Krisztina Szegedi. „Kódexem, kódexem, mondd meg nékem...” Etikaikódex-fejlesztési folyamat egy magyar egyetemen. Vezetéstudomány - Budapest Management Review 2020, 51, 2 -14.

AMA Style

Sára Csillag, Zsuzsanna Géring, Zsuzsanna Győri, Krisztina Szegedi. „Kódexem, kódexem, mondd meg nékem...” Etikaikódex-fejlesztési folyamat egy magyar egyetemen. Vezetéstudomány - Budapest Management Review. 2020; 51 (10):2-14.

Chicago/Turabian Style

Sára Csillag; Zsuzsanna Géring; Zsuzsanna Győri; Krisztina Szegedi. 2020. "„Kódexem, kódexem, mondd meg nékem...” Etikaikódex-fejlesztési folyamat egy magyar egyetemen." Vezetéstudomány - Budapest Management Review 51, no. 10: 2-14.

Journal article
Published: 16 May 2020 in Sustainability
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This study intends to examine corporate social responsibility (CSR) in Pakistan’s banking sector, CSR disclosure practices and their impact on financial performance. For the study, relevant data was collected from the banks’ annual reports, financial websites, the State Bank of Pakistan (SBP) and the Pakistan Stock Exchange (PSE) from 2008 to 2018. The methods utilized in this research study were content analysis and panel data techniques. The results indicate an increase in overall CSR disclosure by all banks in the sample and the findings suggest the involvement of commercial banks in CSR activities, and its proper disclosure has helped to improve their accounting-based financial performance proxied by the return on equity (ROE) and return on assets (ROA). The research findings contribute to a better understanding of the CSR practices in the financial sector of an emerging country, which makes a dynamic effort to develop its financial culture and can encourage rapprochement with Pakistan’s financial sector.

ACS Style

Krisztina Szegedi; Yahya Khan; Csaba Lentner. Corporate Social Responsibility and Financial Performance: Evidence from Pakistani Listed Banks. Sustainability 2020, 12, 4080 .

AMA Style

Krisztina Szegedi, Yahya Khan, Csaba Lentner. Corporate Social Responsibility and Financial Performance: Evidence from Pakistani Listed Banks. Sustainability. 2020; 12 (10):4080.

Chicago/Turabian Style

Krisztina Szegedi; Yahya Khan; Csaba Lentner. 2020. "Corporate Social Responsibility and Financial Performance: Evidence from Pakistani Listed Banks." Sustainability 12, no. 10: 4080.

Journal article
Published: 01 January 2020 in Logisztika – Informatika – Menedzsment
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ACS Style

Yahya Khan; Krisztina Szegedi. Corporate Social Responsibility Disclosure in Banking Sector of Pakistan: Evidence from Commercial Banks. Logisztika – Informatika – Menedzsment 2020, 5, 24 -29.

AMA Style

Yahya Khan, Krisztina Szegedi. Corporate Social Responsibility Disclosure in Banking Sector of Pakistan: Evidence from Commercial Banks. Logisztika – Informatika – Menedzsment. 2020; 5 (1):24-29.

Chicago/Turabian Style

Yahya Khan; Krisztina Szegedi. 2020. "Corporate Social Responsibility Disclosure in Banking Sector of Pakistan: Evidence from Commercial Banks." Logisztika – Informatika – Menedzsment 5, no. 1: 24-29.

Chapter
Published: 01 January 2019 in Corporate Social Responsibility
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Corporate Social Responsibility has developed rapidly in the last decades, and its role has increased due to the new challenges of the global economy, as companies need a positive reputation in order to obtain a “social license to operate”. The aims of this study are: (1) to describe the concepts of corporate social responsibility and Outward Foreign Direct Investment (OFDI), focusing on the relationship between them, (2) to introduce the main CSR risks and opportunities of OFDI, and (3) to summarize the possible solutions for addressing CSR-related risks in OFDI activities. Our study indicates that zero tolerance of corruption is a strategic objective of investing companies. Prevention and mitigation of human rights violations are ethical obligations and in the business interest of corporations. Companies face significant social, environmental, and economic risks, as well as risks to their reputations, because of their supply chains.

ACS Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk. Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge. Corporate Social Responsibility 2019, 187 -209.

AMA Style

Krisztina Szegedi, Gyula Fülöp, Ádám Bereczk. Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge. Corporate Social Responsibility. 2019; ():187-209.

Chicago/Turabian Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk. 2019. "Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge." Corporate Social Responsibility , no. : 187-209.

Journal article
Published: 31 December 2018 in Sarhad Journal of Management Sciences
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This article reviews the literature on the rising issue of poverty due to disability and the role of small and medium business enterprises (SME’s). Literature survey identifies different causes which accelerate the poverty problem in the society. It has also been provided that growth in the number of disabled people around the globe is increasing and is a threat to the global poverty eradication programs. This article provides that there is a positive association between the development of SME’s and poverty alleviation.

ACS Style

Yahya Khan; Krisztina Szegedi. Role of Small and Medium Enterprises in Alleviation of Poverty among Disable People. Sarhad Journal of Management Sciences 2018, 4, 272 -279.

AMA Style

Yahya Khan, Krisztina Szegedi. Role of Small and Medium Enterprises in Alleviation of Poverty among Disable People. Sarhad Journal of Management Sciences. 2018; 4 (2):272-279.

Chicago/Turabian Style

Yahya Khan; Krisztina Szegedi. 2018. "Role of Small and Medium Enterprises in Alleviation of Poverty among Disable People." Sarhad Journal of Management Sciences 4, no. 2: 272-279.

Journal article
Published: 30 June 2018 in European Scientific Journal, ESJ
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Corruption is a curse for any country, as it negatively affects the economic activities and drags the whole society to worst conditions by increasing the poverty and social inequities. Recently the most critical factor for doing business in Pakistan is corruption. In order to give a comprehensive picture of corruption in Pakistan this article (1) critically analyses the literature regarding corruption, its impact on society and the business environment specifically in Pakistan, (2) focuses on business-related factors of corruption, (3) presents various anti-corruption initiatives of Pakistani companies and foreign good examples. Based on our research this study emphasizes that the government should take corrective actions and strengthen institutions and should work in collaboration with the private and civil sector to control the uprising corruption problems. Awareness against corruption in business sphere and general public is very much needed and implementing possible anti-corruption tools, companies can positively contribute to the fight against corruption and Pakistan's economic and social development.

ACS Style

Yahya Khan; Gabor Rethi; Krisztina Szegedi. Corruption as Business Challenge in Pakistan. European Scientific Journal, ESJ 2018, 14, 1 .

AMA Style

Yahya Khan, Gabor Rethi, Krisztina Szegedi. Corruption as Business Challenge in Pakistan. European Scientific Journal, ESJ. 2018; 14 (16):1.

Chicago/Turabian Style

Yahya Khan; Gabor Rethi; Krisztina Szegedi. 2018. "Corruption as Business Challenge in Pakistan." European Scientific Journal, ESJ 14, no. 16: 1.

Journal article
Published: 01 January 2017 in Hitelintézeti szemle
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ACS Style

Csaba Lentner; Krisztina Szegedi; Tibor Tatay. T?rsadalmi felel?ss?g a k?zponti bankok m?k?d?s?ben. Hitelintézeti szemle 2017, 16, 64 -85.

AMA Style

Csaba Lentner, Krisztina Szegedi, Tibor Tatay. T?rsadalmi felel?ss?g a k?zponti bankok m?k?d?s?ben. Hitelintézeti szemle. 2017; 16 (2):64-85.

Chicago/Turabian Style

Csaba Lentner; Krisztina Szegedi; Tibor Tatay. 2017. "T?rsadalmi felel?ss?g a k?zponti bankok m?k?d?s?ben." Hitelintézeti szemle 16, no. 2: 64-85.

Chapter
Published: 01 January 2017 in Handbook of Research on Climate Change and the Sustainable Financial Sector
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Corporate Social Responsibility has developed rapidly in the last decades, and its role has increased due to the new challenges of the global economy, as companies need a positive reputation in order to obtain a “social license to operate”. The aims of this study are: (1) to describe the concepts of corporate social responsibility and Outward Foreign Direct Investment (OFDI), focusing on the relationship between them, (2) to introduce the main CSR risks and opportunities of OFDI, and (3) to summarize the possible solutions for addressing CSR-related risks in OFDI activities. Our study indicates that zero tolerance of corruption is a strategic objective of investing companies. Prevention and mitigation of human rights violations are ethical obligations and in the business interest of corporations. Companies face significant social, environmental, and economic risks, as well as risks to their reputations, because of their supply chains.

ACS Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk; Tomasz Dorożyński; Anetta Kuna-Marszałek. Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge. Handbook of Research on Climate Change and the Sustainable Financial Sector 2017, 17 -39.

AMA Style

Krisztina Szegedi, Gyula Fülöp, Ádám Bereczk, Tomasz Dorożyński, Anetta Kuna-Marszałek. Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge. Handbook of Research on Climate Change and the Sustainable Financial Sector. 2017; ():17-39.

Chicago/Turabian Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk; Tomasz Dorożyński; Anetta Kuna-Marszałek. 2017. "Outward Foreign Direct Investment as a Corporate Social Responsibility Challenge." Handbook of Research on Climate Change and the Sustainable Financial Sector , no. : 17-39.

Journal article
Published: 01 January 2017 in Hitelintézeti szemle
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ACS Style

Csaba Lentner; Krisztina Szegedi; Tibor Tatay. Social Responsibility in the Operation of Central Banks. Hitelintézeti szemle 2017, 16, 64 -85.

AMA Style

Csaba Lentner, Krisztina Szegedi, Tibor Tatay. Social Responsibility in the Operation of Central Banks. Hitelintézeti szemle. 2017; 16 (2):64-85.

Chicago/Turabian Style

Csaba Lentner; Krisztina Szegedi; Tibor Tatay. 2017. "Social Responsibility in the Operation of Central Banks." Hitelintézeti szemle 16, no. 2: 64-85.

Journal article
Published: 30 August 2016 in European Scientific Journal, ESJ
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The study is looking for the answer to the question that how the theory of Sustainable Development and that of Corporate Social Responsibility are linked, by means of what development process the two theories came near to each other and why is it that CSR is considered to be the corporate concept of Sustainable Development. The aims of this study are: (1) to give a synthesized approach to both of Sustainable Development and Corporate Social Responsibility concepts (2) to find the relationship between Sustainable Development and Corporate Social Responsibility based on the content analysis of the main milestones of Sustainable Development process, and (3) to highlight some practical relevance of the relationship of the two concepts which can be a basis of further empirical researches. Based on the research the concept of Corporate Social Responsibility and that of Sustainable Development progressed separately for a long time. The business sphere got a larger and larger role in sustainable development and it has become clear by now that CSR contributes to the sustainable development of the business sphere and without that sustainable development cannot be attained.

ACS Style

Karoly Behringer; Krisztina Szegedi. The Role Of CSR In Achieving Sustainable Development – Theoretical Approach. European Scientific Journal, ESJ 2016, 12, 1 .

AMA Style

Karoly Behringer, Krisztina Szegedi. The Role Of CSR In Achieving Sustainable Development – Theoretical Approach. European Scientific Journal, ESJ. 2016; 12 (22):1.

Chicago/Turabian Style

Karoly Behringer; Krisztina Szegedi. 2016. "The Role Of CSR In Achieving Sustainable Development – Theoretical Approach." European Scientific Journal, ESJ 12, no. 22: 1.

Journal article
Published: 29 July 2016 in European Scientific Journal, ESJ
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Health can be interpreted not only as an important element of sustainable development. It is connected to its all the three pillars namely its environmental, economic and social dimension as well. Health can be found directly or indirectly in every goal related to sustainable development. Considering the importance of health, the aim of our research was to elaborate a holistic health conscious model encouraging sustainable development. Holistic health conscious model means a model including the physical, psychical and mental health of the individual. Furthermore, besides the responsibility of the individual environmental effects are also taken into account as well as the intervening factors. In addition, it integrates the aspect of sustainable development. In our research, first of all we were looking for the answer to the following (1) what kind of stakeholders play a role in developing health consciousness? (2) What is the role of individuals, the state, the companies and NGOs in developing health consciousness? The article presents the holistic health model which was created as a result of the empirical research.

ACS Style

Annamaria Mato-Juhasz; Emoke Kiss-Toth; Krisztina Szegedi. Holistic Health Model Of Sustainable Development. European Scientific Journal, ESJ 2016, 12, 1 .

AMA Style

Annamaria Mato-Juhasz, Emoke Kiss-Toth, Krisztina Szegedi. Holistic Health Model Of Sustainable Development. European Scientific Journal, ESJ. 2016; 12 (21):1.

Chicago/Turabian Style

Annamaria Mato-Juhasz; Emoke Kiss-Toth; Krisztina Szegedi. 2016. "Holistic Health Model Of Sustainable Development." European Scientific Journal, ESJ 12, no. 21: 1.

Journal article
Published: 30 May 2016 in European Scientific Journal, ESJ
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The aim of this current article is to summarize the statements regarding the code of ethics examined in the empirical research of the Hungarian TOP 200 corporate ethics institution system. This study was conducted by the Ethics and Transparency work team of the Hungarian Business Leaders Forum. The research indicates that in Hungary, similar to transitional economies, the codes of ethics are also undeveloped. The main purposes of introducing the code of ethics include providing guidelines for employees, declaring ethical commitment, and the development of company’s culture. Based on the topics, emphasis is laid on protecting the interests of the companies. However, improving competitiveness and meeting the expectations of stakeholders plays an insignificant role. The practice of the code of ethics in the Hungarian large companies contradicts the global tendency that the codes are more and more comprehensive. Thus, they contain several objectives that define corporate responsibility, and they not only focus on the do's and don’ts of employees.

ACS Style

Krisztina Szegedi; Roland Szilágyi. Ethics Codes Of The Hungarian Top 200 Companies. European Scientific Journal, ESJ 2016, 12, 1 .

AMA Style

Krisztina Szegedi, Roland Szilágyi. Ethics Codes Of The Hungarian Top 200 Companies. European Scientific Journal, ESJ. 2016; 12 (13):1.

Chicago/Turabian Style

Krisztina Szegedi; Roland Szilágyi. 2016. "Ethics Codes Of The Hungarian Top 200 Companies." European Scientific Journal, ESJ 12, no. 13: 1.

Journal article
Published: 30 March 2016 in European Scientific Journal, ESJ
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In this research we were looking for the answer to the question whether ethics and compliance whistleblowing systems operating in developed countries can also work in large companies in a central European formerly socialist country where on the one hand ethics institutionalization dates back to a shorter period of time and on the other hand people associate whistleblowing systems with the network of informers and if so, how do they work. The aims of this study are: (1) to introduce the theoretical background the concepts of whistle blowing, (2) to describe the results of international and domestic researches regarding whistleblowing systems, and (3) to use quantitative research methods to investigate the characteristics of whistleblowing systems in large Hungarian companies. The empirical survey indicates that company whistleblowing systems work less efficiently in practice in the surveyed company range which might refer to the deficiency in the external and internal ethics communication as well as to the low level of trust.

ACS Style

Krisztina Szegedi; Roland Szilagyi. Ethics And Compliance Whistleblowing Systems In Hungarian Large Companies. European Scientific Journal, ESJ 2016, 12, 1 .

AMA Style

Krisztina Szegedi, Roland Szilagyi. Ethics And Compliance Whistleblowing Systems In Hungarian Large Companies. European Scientific Journal, ESJ. 2016; 12 (7):1.

Chicago/Turabian Style

Krisztina Szegedi; Roland Szilagyi. 2016. "Ethics And Compliance Whistleblowing Systems In Hungarian Large Companies." European Scientific Journal, ESJ 12, no. 7: 1.

Journal article
Published: 01 January 2016 in International Journal of Learning and Change
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ACS Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk. Social innovation in the Hungarian business sphere. International Journal of Learning and Change 2016, 8, 261 .

AMA Style

Krisztina Szegedi, Gyula Fülöp, Ádám Bereczk. Social innovation in the Hungarian business sphere. International Journal of Learning and Change. 2016; 8 (3/4):261.

Chicago/Turabian Style

Krisztina Szegedi; Gyula Fülöp; Ádám Bereczk. 2016. "Social innovation in the Hungarian business sphere." International Journal of Learning and Change 8, no. 3/4: 261.

Journal article
Published: 01 February 2000 in Journal of Management Development
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The newly developed market‐oriented system in Hungary requires new values, different abilities, and more sensitivity to a wide variety of issues on the part of corporate leadership. The nature of these values and abilities will more than likely vary depending on the industry. The purpose of this study was to examine the view of business ethics and social responsibility among Hungarian managers in both the business and non‐business sectors. The results indicate differences between the examined groups and diverse opinions among participants within each group.

ACS Style

Gyula Fülöp; Robert D. Hisrich; Krisztina Szegedi. Business ethics and social responsibility in transition economies. Journal of Management Development 2000, 19, 5 -31.

AMA Style

Gyula Fülöp, Robert D. Hisrich, Krisztina Szegedi. Business ethics and social responsibility in transition economies. Journal of Management Development. 2000; 19 (1):5-31.

Chicago/Turabian Style

Gyula Fülöp; Robert D. Hisrich; Krisztina Szegedi. 2000. "Business ethics and social responsibility in transition economies." Journal of Management Development 19, no. 1: 5-31.