Do Korean chaebols practice noblesse oblige? Evidence from their CSR activities

2021 ◽  
Vol 10 (1) ◽  
pp. 45-57
Author(s):  
Denis Yongmin Joe ◽  
Jiyoung Lee ◽  
Frederick Dongchuhl Oh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Credit Rating ◽  
Economic Justice ◽  
Corporate Social

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.

scholarly journals CORPORATE SOCIAL RESPONSIBILITY FOR MICRO, SMALL AND MEDIUM ENTERPRISE (MSME / UMKM) AS A FORM OF ECONOMIC JUSTICE IN BANTEN PROVINCE

2017 ◽  
Vol 2 (02) ◽  
pp. 1
Author(s):  
Hamdani .
Keyword(s):  
Corporate Social Responsibility ◽  
Literature Review ◽  
Social Responsibility ◽  
Economic Justice ◽  
Local Regulation ◽  
Funding Sources ◽  
Medium Enterprise ◽  
The Government ◽  
Ease Of Access ◽  
Corporate Social

The purpose of the study is to give an idea relates to the policy of corporate social responsibility (CSR) in actualize economic justice for MSME in Banten Province. This research used descriptive explorative approach by analyzing the empowerment strategies for MSME. The study conducted by using literature review referring on the relevant studies and applicable legislations product including local regulation about CSR. To actualize the economic justice, strategies and policies in supporting the populist economic movement MSME based. The existence of the government is crucial to connect the companies to MSME. The ease of access to funding and business assistance as a strategy to increase the competitiveness MSME in Banten Province. As a commitment to MSME empowerment, the local government could issue the regulation about CSR as a funding sources for MSME. Therefore, the synergic relationship with all parties especially the government, MSME and company need to be developed. The implementation of CSR has been arranged in Perda No 5 of 2016. Technically the used of funding CSR as a source of funding for MSME need to be explained. The goal is that MSME could grow independently. The MSME that grows independently gives people opportunities to work, it means that its existence consistent with the government’s program in addressing the issue of unemployment and poverty. If all parties has the same concern to support the populist economy by using the CSR funding allocation for MSME, the aims of equity and the economic justice for people can be reached.Keywords:  CSR, MSME, and Economic Justice 

Economic Justice as Social Justice in a Globalized World: A Theological Analysis

2007 ◽  
Vol 1 (3) ◽  
pp. 307-319 ◽  
Author(s):  
Gotlind Ulshöfer
Keyword(s):  
European Union ◽  
Social Justice ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Economic Justice ◽  
The European Union ◽  
Corporate Social ◽  
Globalized World

AbstractThis article discusses the understanding of economic justice in the Accra Confession. It develops the notion of economic justice as social justice in a globalized world. By analyzing the discourse on corporate social responsibility in the European Union, it shows the importance of the interdependence of social responsibility and economic justice and vice versa.

scholarly journals Has Indonesia’s Unique Progressivism in Mandating Corporate Social Responsibility Achieved Its Ends?

2018 ◽  
Vol 2 (2) ◽  
pp. 131 ◽  
Author(s):  
Soonpeel Edgar Chang
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Social Issues ◽  
Economic Justice ◽  
Company Law ◽  
Structural Reform ◽  
Legal Obligation ◽  
Positive Law ◽  
Practical Tool ◽  
Corporate Social

It has been a decade since Indonesia implemented its first mandatory CSR requirement. The time is ripe for the discussion: can Indonesia confidently say that it has saved Indonesia by making companies publicly answer for many social issues? Can it successfully bring social and economic justice by continuously enforcing this radical progressivism or utilitarianism? To begin to address these questions, this paper first examines Indonesia's unique features that strengthen CSR as a legal obligation and analyzes the current regulatory frame of CSR. Then, it discusses whether these laws and regulations have actually worked as a practical tool to encourage and enforce companies to perform CSR activities. This research concludes that company law can save Indonesia despite its failure so far due to a number of problems in and out of positive law. It suggests how it can specifically structure the CSR regulations and seeks attention to the more structural reform from the longer-term goal of developing a national mechanism.

scholarly journals Effects of Corporate Social Responsibility and Governance on Its Credit Ratings

2014 ◽  
Vol 2014 ◽  
pp. 1-6 ◽  
Author(s):  
Dong-young Kim ◽  
JeongYeon Kim
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Credit Rating ◽  
Credit Ratings ◽  
Personal Data ◽  
Positive Sign ◽  
Positive Effects ◽  
Corporate Credit ◽  
Corporate Social ◽  
The Impact

This study reviews the impact of corporate social responsibility (CSR) and corporate governance on its credit rating. The result of regression analysis to credit ratings with relevant primary independent variables shows that both factors have significant effects on it. As we have predicted, the signs of both regression coefficients have a positive sign (+) proving that corporates with excellent CSR and governance index (CGI) scores have higher credit ratings and vice versa. The results show nonfinancial information also may have effects on corporate credit rating. The investment on personal data protection could be an example of CSR/CGI activities which have positive effects on corporate credit ratings.

scholarly journals Family Firms, Chaebol Affiliations, and Corporate Social Responsibility

2021 ◽  
Vol 13 (6) ◽  
pp. 3016
Author(s):  
Haeyoung Ryu ◽  
Soo-Joon Chae
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Value ◽  
Large Scale ◽  
Family Firms ◽  
Economic Justice ◽  
Activity Levels ◽  
Corporate Groups ◽  
Corporate Social

This study analyzes the corporate social responsibility (CSR) activities of family-owned firms by investigating public companies in Korea. By nature of their governance structures, which are aligned with the interests of their shareholders and management, family firms are managed from a long-term perspective based on a sense of ownership. While CSR implementation entails investment costs, it ultimately increases firm value by enhancing the firm’s reputation and brand image. As such, family firms are expected to be more active than non-family firms regarding CSR investments. We conducted an empirical analysis based on the Korean Economic Justice Institute Index (KEJI Index) from the Citizens’ Coalition for Economic Justice and found that family firms’ CSR scores were higher than those of non-family firms. This indicates that family firms are relatively more active in their CSR activities, as they are managed from a long-term viewpoint. However, family firms classified as large-scale corporate groups (chaebols) had lower CSR activity levels. This is because when family firms are classified as corporate groups, they can enjoy monopolistic market positioning through their subsidiaries, and are thus more likely to utilize the resources originally required for CSR in other projects that conform to the pursuit of firm interests.

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