• 아태비즈니스연구
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• 제12권1호
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• pp.195-208
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• 2021

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.

• 경영과정보연구
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• 제32권5호
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• pp.135-155
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• 2013

기업의 지속가능한 발전을 위한 전략으로 최근 기업의 사회적 책임활동(Corporate Social Responsibility: CSR)이 부각되고 있다. 이로 인해 국내외를 막론하여 학계 및 실무계에서는 기업의 사회적 책임활동과 기업가치 간의 관련성을 규명하기 위한 연구를 진행하여 왔으나 양자 간에 존재하는 조절변인의 효과를 효율적으로 반영하지 못하는 이유 등에 따라 분석결과는 혼재된 실정이다. 이에 본 연구에서는 기업의 자본제약요소를 사회책임활동과 기업가치 사이에 존재가능한 매개변인으로 고려한 구조방정식 모형을 구축하여 사회책임활동과 기업가치 간의 관련성을 검증하고자 하였다. 주요한 분석결과를 요약하면 다음과 같다. 첫째, 기업의 사회적 책임활동은 자본제약과 유의한 음(-)의 관련성을 지니고 있으며 이와 동시에 자본제약 요인 또한 주가로 대리된 기업가치와 유의한 음(-)의 관련성을 지니는 것으로 관찰된다. 이는 기업의 사회적 책임활동이 투자자에게 기업의 신뢰성을 제고하는 기능적 역할을 수행함에 따라 외부로부터의 자금조달을 용이하게 하고 나아가 기업가치를 증대시키는 효과적인 전략이 되고 있음을 나타낸다. 둘째, 기업의 자본제약 요소를 사회 책임활동과 기업가치 사이에 존재하는 매개변인으로 고려할 경우에도 기업의 사회적 책임활동은 직접적으로 기업가치에 긍정적인 영향을 초래하는 것으로 나타났다. 이러한 결과는 기업의 자본제약이 사회책임활동이 기업가치 증대로 이어지는 연관선 상에 존재하는 완전한 매개변인이 아니라 부분 매개변수임을 암시한다. 이상에서와 같이 본 연구의 분석결과는 기업의 자본제약 요인이 사회책임활동과 기업가치 간에 존재하는 중요한 조절요인이 되고 있음을 제시하는 것으로 이는 향후 사회책임활동과 기업가치 간의 관련성을 분석하는 연구에 있어 양자 사이에 존재하는 다양한 매개변인의 효과를 명확히 고려할 필요가 있음을 시사한다.

• 유통과학연구
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• 제16권10호
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• pp.77-82
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• 2018

Purpose - This paper examines the relationship between corporate social responsibility and financial reporting quality. Corporate social responsibility is a way for firms to take responsibility for the social and environmental impacts of their business operations. Corporate social responsibility is a broad concept that can take various forms depending on the firm and industry. Through corporate social responsibility programs, firms can benefit society. At the same time, firms improve their reputations by increasing engagement in corporate social responsibility activities. However, corporate social responsibility activities are not directly related to profitability, especially for distribution firms. Research design, data, and methodology - 229 distribution & service firm-years between 2011 and 2016 are used for the main analysis. In Korea, Korean Economic Justice Institute evaluates the ethical performance of Korean firms, and the institute annually discloses the scores of top firms. This study uses the KEJI Index scores to measure firm-level corporate social responsibility activities. Discretionary accruals are used as a proxy for financial reporting quality. Discretionary accruals can be used opportunistically, and thus distort the information in earnings. We extract financial data from the KIS Value database. Results - We find that distribution & service firms' engagement in corporate social responsibilities is positively related to their financial reporting quality. First, there is a negative correlation between implementation of corporate social responsibility activities and discretionary accruals. In addition, we find that the coefficient of CSR is significantly negative, supporting our prediction. The result is significant at the 1% level. Conclusions - We examine the relationship between corporate social responsibility activities of distribution firms and their financial reporting quality while most prior studies examine the engagement in corporate social responsibility activities of manufacturing firms. The results of this study show that distribution & service firms engaging in corporate social responsibility activities are likely to maintain high-quality financial reporting.

• 한국의류산업학회지
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• 제24권2호
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• pp.206-216
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• 2022

This study sought to examine the sustainability criteria found in the global sourcing practices of global fashion retailers. Sustainable supply chain management, with a particular focus on the sustainability criteria of global sourcing, was analyzed. This qualitative study was based on a focus group interview and corporate social responsibility (CSR) annual reports. Eight master categories, 18 middle categories, and 37 bottom categories were extracted. The key categories and their middle categories were as follows: (1) Social compliance (working conditions, employment, safety); (2) Environment concerns (environmental pollution management, eco-friendly production, supply chain environment); (3) Energy efficiency (energy saving program, store environment); (4) Consumer protection (restricted substances management, consumer product safety improvement); (5) Management system (code of conduct, triangle audit system); (6) Community social activities (local community service, voluntary activities, charitable activities); (7) External stakeholder engagement (media & non-governmental organization management, maintenance of relationship with local authority); (8) Brand protection (respect for companies' intellectual property). The findings of this study offer academically significant insights into the sustainability criteria that can be encountered by companies under diverse global sourcing scenarios, revealing that global sourcing by fashion retailers is not merely a means of reducing costs, but a way of generating new jobs and making a social contribution to developing countries. The study's findings also have practical significance, offering guidelines for general CSR activities in the global sourcing process.

• 한국의상디자인학회지
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• 제22권1호
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• pp.61-71
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• 2020

This study looks at 'Corporate Social Responsibility' which is required for the fashion industry and brands in modern times. The American fashion brand known for its corporate social responsibility activities, 'Patagonia' is the case study for this research. The purpose of this study is to make suggestions to eco-friendly, outdoor and casual apparel fashion brands that want to introduce corporate social responsibility programs by considering the case of Patagonia's "Worn Wear" campaign. The method of this study was to review corporate social responsibility, previous studies on Patagonia, and literature, such as domestic and foreign media, Patagonia's official homepage, specialty publications, and media. The study concerning corporate social responsibility is focused on Patagonia's "Worn Wear". Worn Wear is Patagonia's system that repurchases and repairs products from Patagonia's own consumers. The study found that the well known corporate social responsibility led to increased sales. Patagonia's social responsibility activities are thought to be part of the brand identity that goes beyond marketing. In the Worn Ware case, repurchasing products from consumers and reselling them or reprocessing them resulted in increased sales, increased consumer engagement, and higher brand attention. The suggestion for a fashion company or brand in a category similar to Patagonia that is looking to engage in corporate social responsibilbty is to adopt and continue a campaign that 'consists of a successful marketing image, connecting memories and new experiences, separated shopping channels while diversifying the creation of distribution and contact channels'.