Journal of Korea Society of Industrial Information Systems (한국산업정보학회논문지)

Korea Society of Industrial Information Systems (한국산업정보학회)
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The Relationship between ESG Management Legitimacy and Corporate Giving: the Moderating Role of Family Executives

ESG 경영의 정당성 확보와 기부금 지출 수준의 관계 : 가족임원의 조절효과

  • Received : 2022.01.03
  • Accepted : 2022.01.11
  • Published : 2022.02.28
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Abstract

This paper investigates the effect of the lack of ESG management legitimacy on the firm's corporate giving. From the institutional theory perspective, ESG management has become a globally institutionalized business standard. A firm can survive and prosper when it conforms to the institutionalized norms. Thus, we argue that firms will increase corporate giving to restore social legitimacy when they experience a lack of social legitimacy regarding ESG management. Our study also focuses on the role of family executives. As family members identify themselves with their firm and intend to hand over the business to next generation, they highly value the social legitimacy of their firm. Therefore, the relationship between the lack of ESG management legitimacy and the firm's corporate giving will be further strengthened as the number of family executives increases. Empirical results provide supports for the two hypotheses.

본 연구는 최근 중요한 이슈로 등장한 ESG 경영을 통한 기업의 정당성 확보 여부가 해당 기업의 기부금 지출 수준에 미치는 영향을 고찰하고 있다. 제도론 측면에서 보면 ESG 경영은 전 세계적으로 이미 제도화되어가고 있다. 따라서 본 연구는 ESG 경영을 적절하게 수용하고 순응하지 못하고 있는 것으로 인식된 기업들의 경우 기업 생존에 영향을 미치는 중요한 요소인 사회적 정당성(social legitimacy)을 확보하기 위한 수단으로 기부금 지출 수준을 높일 것이라 주장한다. 또한 본 연구는 조직 의사결정에 중요한 역할을 하는 TMT의 구성에 있어서 가족임원의 역할에 주목하여, 조직과 자신을 동일시하고 후손에게 기업을 물려주고자 하는 동기로 인하여 조직의 장기적 생존을 중요하게 생각하는 가족임원의 수가 많아질수록, ESG 경영 활동의 정당성이 미확보된 기업이 기부금 지출 수준을 높이는 효과가 보다 강화할 것이라 주장한다. 실증연구결과 두 가설은 모두 지지되었다.

Keywords

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