기업 소유구조와 사회적 책임투자간 관계에 대한 실증 분석

We investigate the relationship between ownership structure and firm performance. For this paper, we use the ‘donation’ figure from the income statement of each firm as a measure of firm performance rather than short-term financial measure that has been widely used by previous studies. Our results are consistent with the idea that family ownership is both prevalent and substantial in Korea. More importantly, however, non-family firms are found to give more donations than family firms. This suggests that non-family firms more readily recognize the significance of corporate social responsibility and play an active role in philanthropy.