Shareholder Conflict as a Determinant of Corporate Social Responsibility Commitment for Shared Growth
- Authors
- Sul, Wonsik; Choi, Hyang Mi; Quan, Ri Shu
- Issue Date
- Sep-2014
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- control-ownership disparity; corporate governance; CSR commitment; foreign block investors; shareholder conflict
- Citation
- EMERGING MARKETS FINANCE AND TRADE, v.50, no.5, pp 97 - 110
- Pages
- 14
- Journal Title
- EMERGING MARKETS FINANCE AND TRADE
- Volume
- 50
- Number
- 5
- Start Page
- 97
- End Page
- 110
- URI
- https://scholarworks.sookmyung.ac.kr/handle/2020.sw.sookmyung/10805
- DOI
- 10.2753/REE1540-496X500506
- ISSN
- 1540-496X
1558-0938
- Abstract
- In this study, we seek to explore shareholder conflicts as a determinant of large firms' corporate social responsibility (CSR) commitment for shared growth with subcontractors. Using a sample of 232 firms in the Korean chaebols during 2006'12, we find that CSR commitment is negatively related to controlling shareholders' cash flow rights but positively related to control-ownership disparity. We also find that foreign blockholders mitigate the positive relationship between CSR commitment and control-ownership disparity. This study offers a view of how controlling shareholders and blockholders protect their interests while enhancing their reputations as good citizens through CSR commitment.
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