• The Journal of the Korea Contents Association
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• v.20 no.3
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• pp.73-80
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• 2020

Using 8,499 observations from 5 years-1,878 firms panel data during 2014 to 2018 in Korean stock exchanges, this study examines the impact of National Pension's ownership on corporate philanthropic giving. The empirical study finds that National Pension's ownership has positive relations with the extent of corporate philanthropic giving in terms of the amounts per employee, the expenditures with respect to total asset and total sales, implying that National Pension plays a monitoring role in promoting target firms to increase the extent of corporate philanthropic giving, which lead to increase in target firms' long-term values. The empirical study also finds that when National Pension is a blockholder holding more than 5% ownership in the target firms, it has positive relations with the extent of corporate philanthropic giving in terms of the amounts per employee, the expenditures with respect to total asset, implying that it exercises disciplinary roles on focal firms in promoting the extent of corporate philanthropic giving in order to increase target firms' long-term values. The results overall support that National Pension plays positive effects on target firms in promoting the extent of corporate philanthropic giving, which lead to increase in target firms' long-term values.

• Korean Journal of Community Nutrition
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• v.26 no.3
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• pp.177-187
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• 2021

Objectives: This study investigated the different perceptions of customers toward traditional and non-traditional fast-food restaurants regarding restaurant healthfulness, corporate reputation, and the impact of corporate reputation on loyalty intentions through corporate social responsibility (CSR) motive. Methods: An online survey was conducted on U.S. residents who were aware of fast food restaurants' CSR activities. Participants selected one fast food restaurant participating in CSR activities, coded as either traditional (n = 117) or non-traditional (n = 48), and answered questions about the selected restaurant's healthfulness, reputation, CSR motives, and loyalty intentions. The participants' perceptions of healthfulness and corporate reputation of the two types of fast-food restaurants were compared. A mediation path of corporate reputation - CSR motive - loyalty intention was analyzed. Results: Non-traditional fast-food restaurants (5.02 ± 1.26) were perceived to be more healthful than traditional ones (3.93 ± 1.72). The participants perceived that compared to traditional fast-food restaurants, non-traditional ones had a better overall corporate reputation (P = 0.037), were more concerned about their customers (P = 0.029), better workplaces (P = 0.007), more environmentally and socially responsible (P < 0.001), and offered higher quality products and services (P = 0.042). Significant positive correlations were shown between restaurant healthfulness and corporate reputation (P < 0.001 for all reputation items). The suggested mediation path was supported with 95% CIs excluding zero, implying that when fast-food restaurants had a better reputation overall, were customer oriented, good employers, strong companies with a good product and service quality, social and environmental responsibility, the participants were more likely to perceive their CSR activities to be sincere and were hence loyal to that restaurant. Conclusions: Overall, participants were more favorable towards non-traditional fast-food restaurants which had a healthier image and better reputation than traditional ones. Therefore, fast food restaurants need to consider offering healthy food and enhance their image, which would maximize the return on their investment in CSR.