기업의 사회적 책임활동과 재무성과

This paper studies the relationship between corporate social responsibility and financialperformance with a focus on the experience of CSR reporting in Korea. The sample size forthis study consisted of 183 firms in Korea during the period covering 2006-2009, using theKEJI index as CSR performance proxy. Specifically, this study examined the effect of CSRperformance on subsequent financial performance and the effect of subsequent financialperformance on CSR performance in Korean firms. The next phase of the study looked intothe differences between firms that do CSR reporting and those that do not. In conclusion, the findings suggest that CSR performance is positively associated with someaspects of subsequent financial performance In addition, results showed that: (1) there is noeffect in expediency of CSR reporting; (2) CSR performance is positively associated withprior financial performance more thus strongly supporting the slack resource theory.