기업의 규모별 특성이 사회적 책임과 기업가치 간의 비선형 관계를 유발하는 임계점에 미치는 영향에 대한 연구

• 영문명: A Study on the Impact of Firm Size on the Threshold Point from Nonlinear Relationship between CSR and Firm Value
• 발행기관: 강원대학교 경영경제연구소
• 저자명: 김종희(Jong-Hee Kim)
• 간행물 정보: 『아태비즈니스연구』제11권 제2호, 207~233쪽, 전체 27쪽
• 주제분류: 인문학 > 문학
• 파일형태: PDF
• 발행일자: 2020.06.30

영문 초록

Purpose - The purpose of this paper analyzes the relationship between the Corporate Social Responsibility(CSR) and Corporate Value to estimate whether the characteristics of Firm can change this relationship. Design/methodology/approach - This paper utilizes the total 776 firms’ data over the period 2014-2018, and develops a new ESG index which was estimated by PCA. Findings - First, the estimated ESG index implies that Large company has the highest value of CSR, while Medium sized and Small company have the relatively low one. And comparing to the case of 2014, the trend of ESG index in Large company does not decrease in 2018. Second, there is a clear and significant non linear relationship between CSR and corporate value, it implies that the U-shaped exists in the Korean Firms. Such a tendency is mush stronger in the Large company. Third, the new ESG index indicates that it takes more time to increase Firm value in the Medium sized and Small company while there is a high possibility of increasing value in Large company from the little gab between the threshold points and mean value of ESG. Research implications or Originality - The non linear tendency between the Corporate Social Responsibility and Corporate Value is strongly affected by Firm size and the relative high quintile of ESG, but it is less affected by Firm history.

목차

Ⅰ. 서론

Ⅱ. 기존문헌 검토

Ⅲ. 연구방법론

Ⅳ. 실증분석 결과

Ⅴ. 결론

References

키워드

ESG Index CSR Principal Component Analysis Threshold Point