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

• Denis Yongmin Joe ; Jiyoung Lee ; Frederick Dongchuhl Oh ^[1]
  1. [1] Korea Advanced Institute of Science and Technology

     Korea Advanced Institute of Science and Technology

     Corea del Sur

     
• Localización: Economics and Business Letters, ISSN-e 2254-4380, Vol. 10, Nº. 1, 2021, págs. 45-57
• Idioma: inglés
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• Resumen

  • 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.