CSR의 지속성과 경영자 능력이 CSR과 재무성과 관련성에 미치는 영향
Copyright 2011 THE KOREAN ACADEMIC SOCIETY OF BUSINESS ADMINISTRATION
This is an open access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
In this study, we examine the empirical relation between Corporate Social Responsibility(CSR) and Corporate Financial Performance(CFP) in Korean context. In addition, we consider the moderating effects of CSR consistency and CEO ability on CSR-CFP relation. Using a sample of firms with KEJI Index during 2011-2019, we find a positive relation between CSR and CFP while both consistency in CSR and CEO ability provide moderating effects to intensify the positive relation. This implies that consistency in CSR and CEO ability should have significant financial implications, therefore, the positive relation between CSR and CFP is strongly influenced not only by a high level of CSR performance but also by manager’s ability to deliver consistent social performance. Moreover, we find that CSR level, consistency and CEO ability interact positively to influence a firm’s financial performance. The results emphasize that maintaining consistently good social performance is more important for firms with highly talented CEO to maximize its financial implications.
Keywords:
CSR, Consistency, CEO ability, Financial performanceReferences
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∙ The author Ji-Ahn Nam is Ph.D in the college of business administration at Pusan National University. She graduated bachelor’s degree of Commerce in Accounting from Macquarie University in Australia, and received master’s degree and doctorate from Pusan National University. Her main research interests are on goodwill, pension accounting, accounting quality, value relevance.
∙ The author Jong-Seo Choi received his bachelor’s degree from Pusan National University as summa cum laude, master’s degree from Seoul National University, and doctorate from Pusan National University. He has served the deanship of the School of Business (Graduate School of Management) at Pusan National University. He was invited to Waseda University, Ritsumeikan University, Kyoto University, LaTrobe University, Monash University, Jiangxi University of Finance and Economics in China, and University of Science Malaysia as visiting professor and invited lecturer. He has served as editor of numerous peer-reviewed domestic and international journals and is currently serving as the editor-in-chief of Korean Accounting Review. His primary research interests are on managerial accounting discretion, economic consequence of accounting choice, fair value measurement and CSR among others.