아태비즈니스연구 (Asia-Pacific Journal of Business)

  • 제12권1호
  • /
  • Pages.195-208
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  • 2021
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  • 2233-5900(pISSN)
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  • 2384-3934(eISSN)
강원대학교 경영경제연구소 (KNU The Institute of Management & Economy Research)
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한국 시장에서의 기업의 사회공헌활동과 조세회피

An Empirical Study for the Effect of CSR Performance on Tax Avoidance: The Case Of South Korea

  • 이정환 (한양대학교 경제금융대학) ;
  • 조진형 (한양대학교 경제금융대학) ;
  • 김상희 (서울시립대학교 세무전문대학)
  • Lee, Jeong Hwan (College of Economics and Finance, Hanyang University) ;
  • Cho, Jin-Hyung (College of Economics and Finance, Hanyang University) ;
  • Kim, Sanghee (Graduate School of Science in Taxation, The University of Seoul)
  • 투고 : 2021.02.28
  • 심사 : 2021.03.25
  • 발행 : 2021.03.31
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초록

Purpose - The primary objective of this paper is to empirically examine whether the engagement of socially responsible activities in corporations affect the tendency of tax-avoidance by using the sample of Korean companies. We are particularly interested in Chaebol-affiliated firms, which are a special type of Korean conglomerates. Design/methodology/approach - This study is based on a sample of 5,496 firm-year observation data from 2011 to 2017 by using the ESG ratings from the Korea Corporate Governance Service(KCGS), a ESG rating agency in Korea. For our analysis, the firms were separated into 1,547 Chaebol-affiliated firms and other 3,949 firms. All financial and firm data were extracted from Fn-guide, which provides financial information for Korean listed firms. Findings - We find that CSR is generally positively related to the effective tax rate, which indicates a lower level of tax avoidance for more socially responsible firms. In particular, a positive relationship of social score with GAAP ETR was observed. Research implications or Originality - We find that the positive relationship is robust to the group of chaebol and non-chaebol affiliates unlike extant literature.

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