공기업 CEO특성이 사회적 책임활동에 미치는 영향: 내부승진 여부 및 전문성을 중심으로

[Purpose]The purpose of this study is to examine the effect of CEO characteristics on social responsibility activities in public enterprises. [Methodology]The CEO characteristics include their background(independence), business expertise, and financial expertise. To measure social responsibility activities, the evaluation scores that the government annually conducts are utilized. The evaluation consists of the contribution to public welfare and the government－recommended policy. [Findings]Based on 109 observation from 2011 to 2014 using publicly available data, we find that there is a negative association between internally－promoted CEO and social responsibility activities. This may be interpreted as that the internally－promoted CEOs gradually form a private network as gaining their experiences and this may lead to their preferences on political connection rather than their public duty. However, CEOs equipped with business expertise, are more apt to follow the policy as the government recommends. [Implications]This study contributes to the extant literature on public enterprises by examining the relationship between the characteristics of CEOs and the social responsibility activities. The limitation of this study is the possible lack of transparent information provided in the public.