Research Article
CSR의 지속성과 경영자 능력이 CSR과 재무성과 관련성에 미치는 영향
부산연구원
부산대학교
발행: 2022년 1월 · 51권 3호 · pp. 643-679
DOI: https://doi.org/10.17287/kmr.2022.51.3.643
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초록
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.
