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Shareholder Conflict as a Determinant of Corporate Social Responsibility Commitment for Shared Growth
- Sul, Wonsik;
- Choi, Hyang Mi;
- Quan, Ri Shu
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2초록
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.
키워드
control-ownership disparity; corporate governance; CSR commitment; foreign block investors; shareholder conflict; OWNERSHIP; MARKET; FIRM
- 제목
- Shareholder Conflict as a Determinant of Corporate Social Responsibility Commitment for Shared Growth
- 저자
- Sul, Wonsik; Choi, Hyang Mi; Quan, Ri Shu
- 발행일
- 2014-09
- 유형
- Article
- 권
- 50
- 호
- 5
- 페이지
- 97 ~ 110