Do Korean Chaebols Practice Noblesse Oblige? Evidence from Their CSR Activities

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This study analyzes the corporate social responsibility (CSR) activities of the Korean chaebols to establish whether these firms engage in social duties and practice noblesse oblige. To measure the extent of the CSR activities, we use the index of the Korean Economic Justice Institute (KEJI) from 2005 to 2017. We find that the level of the CSR activity among chaebol firms with weak governance is low. Moreover, we show that chaebol firms with credit rating concerns reduce their CSR activities. Overall, our results indicate that Korean chaebols tend to neglect the CSR activities. © 2021, Oviedo University Press. All rights reserved.
Publisher
UNIV OVIEDO
Issue Date
2021-02
Language
English
Article Type
Article
Citation

ECONOMICS AND BUSINESS LETTERS, v.10, no.1, pp.45 - 57

ISSN
2254-4380
DOI
10.17811/ebl.10.1.2021.45-57
URI
http://hdl.handle.net/10203/281707
Appears in Collection
MT-Journal Papers(저널논문)
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