Your browser does not support the PubReader view.
Go to this page to see a list of supporting browsers.
Korean Academic Society of Business Administration
[ Article ]
korean management review - Vol. 48, No. 4, pp.1069-1094
ISSN: 1226-1874 (Print)
Print publication date 31 Aug 2019
Received 20 May 2019 Revised 25 Jun 2019 Accepted 08 Jul 2019
DOI: https://doi.org/10.17287/kmr.2019.48.4.1069

공익법인 기부금 수입의 영향요인에 관한 탐색적 연구: 회계정보와 온라인정보의 비교

육근효*
*(단독저자) 부산외국어대학교 경영학부 yook@bufs.ac.kr
Investigating Factors Affecting Donations to Nonprofit Organizations: Comparison of Accounting and Online Information
Keun-Hyo Yook*
*Professor, College of Business, Busan University of Foreign Studies, First Author

초록

본 연구에서는 기부금 크기에 영향을 미치는 결정요인이 무엇인지를 파악하기 위해 공익법인(NPO)의 회계정보 이외에 해당 NPO의 웹사이트에 나타난 설명책임 정보 및 전통적 미디어 보도 정보가 기부금 크기와 어떤 관련성을 갖는지를 실증적으로 분석하였다.

연구결과를 요약하면 먼저 기부자들은 기부금이 NPO의 프로그램을 위해 사용하는 비용에 대한 선호보다 관리비 사용에 대한 부정적 인식이 상대적으로 더 강하며, 기금 모금 노력은 기부에 긍정적인 영향을 미친다는 것을 보여주었다. NPO에 대한 언론보도와 웹 사이트 공시는 기부금 크기에 긍정적 영향을 미쳤으나 웹 공시 중에서 미션 등에 관련된 성과 관련 공시는 기부금과 유의적 관련성이 없는 것으로 나타났다. 개인과 기업기부금으로 구분한 분석에서는 전자는 총비용 대비 관리비․모금비용이 차지하는 비율이 낮을수록 개인기부자들의 기부동기가 높았으며, 기업 및 단체기부자들은 기부에 의해 마케팅 기회가 증대되는 실질적 혜택을 중시하는 사실이 확인되었다. 추가적으로 기부금을 NPO 단체유형(재단법인, 사단법인, 공공기관, 인가단체, 기타단체)과 조직규모별로 기부금에 미치는 효과를 분석했으나 유의한 차이는 발견되지 않았다. 기부금 대신에 목적사업 총수입을 종속변수로 변경한 경우에도 유사한 결과가 나타났다. 통제변수를 보면 선행연구의 결과와 마찬가지로 NPO의 자산규모가 클수록 설립년도가 오래될수록 그리고 특정한 기부자에 집중될수록(기부자 분산이 낮을수록) 기부금에 미치는 긍정적 영향이 나타났으나 세무확인서와 기부금 간에는 유의한 음의 관련성이 발견되었다.

본 연구는 기부금 관련 의사결정에서 전통적 회계정보 이외에 미디어 보도와 웹 공시와 같은 새로운 인터넷 정보의 상대적 유용성을 분석하여 선호되는 미디어를 확인함과 동시에 이 두 가지 지표의 통합 효과도 최초로 실증하였다. 본 연구의 결과는 NPO 경영자들의 기부금 관리 방안과 정부의 기부 투명성 및 활성화 방안을 개선하는데 유용한 정보가 될 것이다.

Abstract

In this study, we empirically examine the organizational information characteristics such as accounting information, web disclosure information, and traditional media coverage which influence charitable giving.

The results are as follows: First, administrative expenses(ADMIN) has a significant negative effect on donations, while program-related expenses(inverse of PRICE) has a positive effect on donations. Second, in the market for charitable contributions, media coverage plays an additional informational role beyond that of accounting information such as fundraising. Third, online financial disclosure and annual report disclosure have consistently positive associations with donations. In contrast, among web disclosures, mission-related performance disclosures have shown no significant relevance to donations. Fourth, the higher the ratio of administrative expenses and fundraising expenses to total costs, the lower the incentive for individual donors, and that corporate and company donors value the practical benefits of increased marketing opportunities by donations. Fifth, the effects of donations on contributions by NPO type and NPO size were analyzed, but no significant difference was found. Similar results were obtained when the total income of the project was changed to a dependent variable instead of the contribution. Lastly, the larger the NPO's assets, the older the age of NPO’s and the higher concentration of donors, the more positive the effect on the contributions, but a significant negative association was found between the tax confirmation and the contributions.

This study analyzed the relative usefulness of new online information, such as media coverage and web disclosure, in addition to traditional accounting information in donation decision-making for the first time. The results of this study will be useful information to improve the transparency and activation of donations by NPO managers and the government.

Keywords:

Donation, NPO(not for profit organization), web disclosure, media coverage, online information

키워드:

기부금, 공익법인, 웹 공시, 온라인 정보, 언론보도

Acknowledgments

본 연구는 2019년 부산외국어대학교 교내지원연구비에 의해 수행되었으며 본 연구를 위해 자료를 제공해 준 (재)한국가이드스타에 감사드린다.

References

  • 박의근(2015), “법인본질론에 관한 소고 : 법인이론에서의 법인의 사회적 실재성과 권리주체성에 대한 구별 및 사단법인과 재단법인에 관한 법인이론의 분리적 검토를 중심으로,” 비교사법, 22(4), pp.1751-1784.
  • 서희열, 심충진, 조영탁(2008), “기부금 활성화를 위한 투명성 확보방안,” 세무학연구, 25(2), pp.9-35.
  • 양용희(2015), “한국사회의 개인기부의 결정 요인에 관한 탐색적 연구,” 인간연구, 30, pp.37-64
  • 우미향(2015), “비영리법인 회계제도의 개선이 기부금 활성화에 미치는 영향에 관한 연구,” 숭실대학교 박사논문, 서울, 숭실대학교.
  • 이창식, 장하영(2017), “청소년의 공동체의식과 기부기관신뢰가 기부동기와 기부태도에 미치는 영향,” Journal of Digital Convergence, 15(4), pp. 83-89.
  • 한국보건사회연구원(2019), ‘나눔실태’ 2017.
  • Al-Sartawi, A. and S. Reyad(2018), “Signaling theory and the determinants of online financial disclosure,” Journal of Economic and Administrative Sciences, 34(3), pp.237-247, [https://doi.org/10.1108/JEAS-10-2017-0103]
  • Al-Sartawi, A.(2016), “Measuring the level of online financial disclosure in the Gulf Cooperation Council countries,” Corporate Ownership and Control, 14(1), pp.547-558. [https://doi.org/10.22495/cocv14i1c4art1]
  • Baber, W. R., P. L. Daniel, and A. A. Roberts(2002), “Compensation to managers of charitable organizations: An empirical study of the role of accounting measures of program activities,” The Accounting Review, 77(3), pp.679-693. [https://doi.org/10.2308/accr.2002.77.3.679]
  • Bekkers, R.(2003), “Trust, accreditation, and philanthropy in the Netherlands,” Nonprofit and Voluntary Sector Quarterly, 32(4), pp.596-615. [https://doi.org/10.1177/0899764003258102]
  • Bennett, J. T., and T. DiLorenzo(1994), Unhealthy charities - hazardous to your health and wealth, Basic Books, New York.
  • Blouin, M. C., and R. Lee(2015), “A signaling theory approach to nonprofit web disclosure,” Journal of Academy of Business and Economics, 15(1), pp.7-20. [https://doi.org/10.18374/JABE-15-1.1]
  • Borah, P.(2016), “Media Effects Theory,” in G. Mazzoleni (Eds.), The International Encyclopedia of Political Communication, John Wiley & Sons Inc, pp.1-12. [https://doi.org/10.1002/9781118541555.wbiepc156]
  • Bradley, B., P. Jansen, and L. Silverman(2003), “The Nonprofit Sector’s $100 Billion Opportunity,” Harvard Business Review, 81(5), pp.94-103.
  • Brown, A. L., C. F. Camerer, and D. Lovallo(2013a), “Estimating structural models of limited strategic thinking in the field: the case of missing movie critic reviews,” Management Science, 59(3), pp.733-747. [https://doi.org/10.1287/mnsc.1120.1563]
  • Brown, P., and J. Minty(2006), “Media Coverage and Charitable Giving After the 2004 Tsunami,” Colby College Goldfarb Center Working Paper. [https://doi.org/10.2139/ssrn.968760]
  • Cabral, L.(2016), “Media exposure and corporate reputation,” Research Economics, 70(4), pp.735-740. [https://doi.org/10.1016/j.rie.2016.07.004]
  • Carman, J. G., and K. Fredericks(2010), “Evaluation capacity and nonprofit organizations: Is the glass half-empty or half-full,” American Journal of Evaluation, 31(1), pp.84-104. [https://doi.org/10.1177/1098214009352361]
  • Craven, B., and C. Marston(1999), “Financial Reporting on the Internet by Leading UK Companies,” European Accounting Review, 8(2), pp.321-333. [https://doi.org/10.1080/096381899336069]
  • Covello, V. T.(2010), “Strategy for overcoming challenges to effective risk communication,” in R. L. Heath and H. D. O'Hair (Eds.), Handbook of risk and crisis communication, Routledge, pp.143-167.
  • Diamond, D. W., and R. Verrecchia(1991), “Disclosure, liquidity and the cost of capital,” The Journal of Finance, 46(4), pp.1325-1359. [https://doi.org/10.1111/j.1540-6261.1991.tb04620.x]
  • Frumkin, P., and M. T. Kim(2001), “Strategic positioning and the financing of nonprofit organizations: Is efficiency rewarded in the contributions marketplace,” Public Administration Review, 61(3), pp.266-289. [https://doi.org/10.1111/0033-3352.00029]
  • Gandia, J. L.(2011), “Internet disclosure by nonprofit organizations: Empirical evidence of nongovernmental organizations for development in Spain,” Nonprofit and Voluntary Sector Quarterly, 40(1), pp.57-78. [https://doi.org/10.1177/0899764009343782]
  • Goldsberry, “How is media coverage related to your online reputation”, 2015, Available at http://www.axiapr.com, .
  • Gordon, T. P., C. L. Knock, and D. Neely(2009), “The role of rating agencies in the market for charitable contributions: an empirical test,” Journal of Accounting and Public Policy, 28(6), pp.469-484. [https://doi.org/10.1016/j.jaccpubpol.2009.08.001]
  • Greenlee, J. S., and K. Brown(1999), “The impact of accounting information on contributions to charitable organizations,” Research in Accounting Regulation, 13, pp.111-125.
  • Greenlee, J., and J. Trussel(2000), Predicting the Financial Vulnerability of Charitable Organizations, Nonprofit Management & Leadership, 11(2), pp.199-210 [https://doi.org/10.1002/nml.11205]
  • Hanafi, S. R., B. M. Kasim, M. A. B., Ibrahim, M. K. B., and D. Hancock(2009), “Business reporting on the internet: Development of a disclosure quality index,” International Journal of Business and Economics, 8(1), 455-479.
  • Hamrouni, A., A. Miloudi, and R. Benkraiem(2015), “Signaling Firm Performance Through Corporate Voluntary Disclosure,” The Journal of Applied Business Research, 31(2), pp.609-620. [https://doi.org/10.19030/jabr.v31i2.9157]
  • Hou, J., C. Zhang, and R. A. King(2017), “Understanding the dynamics of the individual donor’s trust damage in the philanthropic sector,” International Journal of Voluntary and Nonprofit Organizations, 28(2), pp. 648-671. [https://doi.org/10.1007/s11266-016-9681-8]
  • Hyndman, N.(1991), “Contributors to charities - a comparison of their information needs and the perceptions of such by the providers of information,” Finance, Accounting and Management, 7(2), pp.69-82. [https://doi.org/10.1111/j.1468-0408.1991.tb00126.x]
  • Jacobs, F. A., and N. Marudas(2009), “The combined effect of donation price and administrative inefficiency on donations to US nonprofit organizations,” Finance Accounting and Management, 25(1), pp.33-53. [https://doi.org/10.1111/j.1468-0408.2008.00464.x]
  • Khaler J., and A. Sargeant(2002), “The Size Effect in the Administration Costs of Charities,” European Accounting Review, 11(2), pp.215-243. [https://doi.org/10.1080/0963818022000006870]
  • Khumawala, S. B., and T. Gordon(1997), “Bridging the Credibiiity of GAAP: individual Donors and the New Accounting Standards for Nonprofit Organizations,” Accounting Horizons, 11(3), pp.45-68.
  • Lee and Blouin, “Towards a model of web disclosure adoption by nonprofit organizations”, 2014, Available at http://aisel.aisnet.org, .
  • Lee, R. L., and R. C. Joseph(2013), “An examination of web disclosure and organizational transparency,” Computers in Human Behavior, 29(6), pp.2218-2224. [https://doi.org/10.1016/j.chb.2013.05.017]
  • Lee, R. L., P. C. Pendharkar, and M. C. Blouin(2012), “An Exploratory Examination of the Implementation of Online Accountability: A Technological Innovation Perspective,” Journal of Information Technology Management, 23(3), pp.1-11.
  • Luca, M.(2011), “Reviews, reputation, and revenue: The case of Yelp.com, Harvard Business School,” Working Paper No.12-016. [https://doi.org/10.2139/ssrn.1928601]
  • Lynch, K., and K. Cooney(2011), “Moving from outputs to outcomes: A review of the evolution of performance measurement in the human service nonprofit sector,” Administration in Social Work, 35(4), pp.364-388. [https://doi.org/10.1080/03643107.2011.599305]
  • Marudas, N., T. Hahn, and F. Jacobs(2012), “An improved model of donations to nonprofit organizations,” ASBBS Proceedings, 19(1), pp.545-559.
  • Mitchell, G. E.(2014), “Creating a Philanthropic Marketplace through Accounting, Disclosure, and Intermediation,” Public Performance & Management Review, 38(1), pp.23-47. [https://doi.org/10.2753/PMR1530-9576380102]
  • Parsons, L. M.(2003), “Is accounting information from nonprofit organizations useful to donors? A review of charitable giving and value relevance,” Journal of Accounting Literature, 22, pp.104-129.
  • Parsons, L. M.(2007), “The impact of financial information and voluntary disclosures on contributions to not-for-profit organizations: a field-based experiment,” Behavioral Research Accounting, 19(1), pp.179-196. [https://doi.org/10.2308/bria.2007.19.1.179]
  • Parsons, L. M., and J. Trussel(2009). “Fundamental analysis of not-for-profit financial statements: An examination of financial vulnerability measures,” Research in Governmental and Nonprofit Accounting, 12, pp.32-56.
  • Peltier, J. W., J. A. Schibrowsky, D. E. Schultz, and J. Davis(2002), “Interactive pychographics: Cross-Selling in the Banking Industry,” Journal of Advertising Research, 42(2), pp.7-22. [https://doi.org/10.2501/JAR-42-2-7-22]
  • Roberts, A. A., P. Smith, and K. Taranto(2006), “Evaluating charitable spending: Marginal versus average performance measures,” Working paper. Boston College, University of Texas at San Antonio and Georgetown University.
  • Sanad, Z., and A. Al-Sartawi(2016), “Investigating the relationship between corporate governance and internet financial reporting (IFR): evidence from Bahrain bourse,” Jordan Journal of Business Administration, 12(1), pp.239-269. [https://doi.org/10.12816/0030063]
  • Sargeant, A., and S. Lee(2004), “Trust and relationship commitment in the United Kingdom voluntary sector: Determinants of donor behavior,” Psychology and Marketing, 21(8), pp.613-635. [https://doi.org/10.1002/mar.20021]
  • Saxton G. D., D. G. Neely, and C. Guo(2014), “Web disclosure and the market for charitable contributions,” Journal of Accounting and Public Policy, 33(2), pp.127-144. [https://doi.org/10.1016/j.jaccpubpol.2013.12.003]
  • Saxton, G. D., J. Kuo, and Y. Ho(2012), “The determinants of voluntary financial disclosure,” Nonprofit and Voluntary Sector Quarterly, 41(6), 1052-1071. [https://doi.org/10.1177/0899764011427597]
  • Saxton, G. D., and C. Guo(2011), “Accountability online: understanding the Web-based accountability practices of nonprofit organizations,” Nonprofit and Voluntary Sector Quarterly, 40(2), pp.1-26. [https://doi.org/10.1177/0899764009341086]
  • Shehu, E., J. Becker, A. Langmaack, and M. Clement(2016), “The Brand Personality of Nonprofit Organizations and the Influence of Monetary Incentives,” Journal of Business Ethics, 138(3), pp.589-600. [https://doi.org/10.1007/s10551-015-2595-3]
  • Slatten, L., B. Hollier, D. Stevens, W. Austin, and P. Carson(2016), “Web-Based Accountability in the Nonprofit Sector: A Closer Look at Arts, Culture, and Humanities Organizations,” The Journal Of Arts Management, Law, and Society, 46(5), pp.213-230. [https://doi.org/10.1080/10632921.2016.1211048]
  • Snipes, R., and S. Oswald(2010), “Charitable giving to not-for-profit organizations: factors affecting donations to non-profit organizations,” Innovative Marketing, 6(1), pp.73-80.
  • Spence, M.(1973), “Job market signalling,” Quarterly Journal of Economics, 87(3), pp.355-374. [https://doi.org/10.2307/1882010]
  • Stiglitz, J. E.(2000), “The contributions of the economics of information to twentieth century economics,” Quarterly Journal of Economics, 115(4), pp.1441-1478. [https://doi.org/10.1162/003355300555015]
  • Surysekar, K., E. Turner, and C. Wheatley(2015), “On the Association between Donor-Imposed Financial Inflexibility and Future Donations to Charitable Organizations,” Journal of Management Accounting Research, 27(1), pp.63-79. [https://doi.org/10.2308/jmar-50900]
  • The Staff of Entrepreneur Media and Corbin Collins(2017), “Start Your Own Nonprofit Organization,” 2nd Edition. Entrepreneur Press.
  • Tinkelman, D.(1998), “Differences in sensitivity of financial statement users to joint cost allocations: The case of nonprofit organizations,” Journal of Accounting, Auditing & Finance, 13(4), pp.445-460. [https://doi.org/10.1177/0148558X9801300401]
  • Tinkelman, D.(1999), “Factors affecting the relation between donations to not-for-profit organizations and an efficiency ratio,” Research in Governmental and Nonprofit Accounting, 10, pp.135-161.
  • Tinkelman, D., and K. Mancaney(2007), “When is Administrative Efficiency Associated With Charitable Donations,” Nonprofit and Voluntary Sector Quarterly, 36(1), pp.41-64. [https://doi.org/10.1177/0899764006293176]
  • Trussel, J., and L. Parsons(2008), “Financial Reporting Factors Affecting Donations to Charitable Organizations,” Advances in Accounting, 23, pp.263-285. [https://doi.org/10.1016/S0882-6110(07)23010-X]
  • Tuckman, H. P., and C. F. Chang(1991), “A methodology for measuring the financial vulnerability of charitable nonprofit organizations,” Nonprofit and Voluntary Sector Quarterly, 20(4), pp.445-460. [https://doi.org/10.1177/089976409102000407]
  • Varkevisser, M., S. A. van der Geest, and F. T. Schut(2012), “Do patients choose hospitals with high quality ratings? Empirical evidence from the market for angioplasty in the Netherlands,” Journal of Health Economics, 31(2), pp.371-378. [https://doi.org/10.1016/j.jhealeco.2012.02.001]
  • Weisbrod, B. A., and N. D. Dominguez(1986), “Demand for collective goods in private nonprofit markets: Can fundraising expenditures help?” Journal of Public Economics, 30(1), pp.83-96. [https://doi.org/10.1016/0047-2727(86)90078-2]
  • White, J., and M. Miles(1996), “The Financial Implications of Advertising as an Investment,” Journal of Advertising Research, 36(4), pp.43-53.
  • Wright, D., and M. Hinson(2017), “Tracking How Social and Other Digital Media are Being Used in Public Relations Practice: A Twelve-Year Study,” Public Relations Journal, 11(1), pp.1-30.
  • Yörük, B. K.(2012), “The effect of media on charitable giving and volunteering: Evidence from the “Give Five” campaign,” Journal of Policy Analysis and Management, 31(4), pp.813-836. [https://doi.org/10.1002/pam.21634]

• 저자 육근효는 현재 부산외국어대학교 글로벌비즈니스대학 회계 전공 교수로 재직 중이다. 부산수산대학교와 부산대학교에서 경제학석사와 경영학석사, 동아대학교에서 경영학박사를 취득하였다. 일본 고베대학, 요코하마국립대학, 오사카부립대학, Akron대학에서 초빙 및 객원교수로 활동하였다. 주요 연구분야는 원가기획, 가치분석, CSR회계 등이다.