왜 사회적 기업은 자율경영공시제도에서 이탈하는가?: 사회적 기업의 성과와 외부자원 의존도를 중심으로

The purpose of this study is to empirically analyze the factors that influence the escape of the social enterprise voluntary management disclosure system. In order to create a transparent ecosystem of social enterprises, the government introduced an voluntary management disclosure system in 2011. However, there was a lack of interest in whether the voluntary management disclosure system works in line with the purpose of systematically managing the performance of social enterprises and contributing to creating a stable ecosystem. In addition, there were many companies that escape from the management disclosure system. As a result, this study conducted panel logistic analysis to find impact factors of the escape from the voluntary management disclosure system, and the results are as follows. First, it has been shown that the smaller asset of social enterprises are, the more likely they will escape from the management disclosure system. Second, social enterprises with high economic performance are more likely to escape from the management disclosure system, and social enterprises with high social investment in profit are more likely to escape from the management disclosure system. Third, social enterprises with more than five years of certification are more likely to escape from the management disclosure system as their assets are smaller. Finally, both social enterprises with a certification period of less than five years and those with more than five years are more likely to escape from the management disclosure system as their economic performance are high. Based on these results, the need to establish an voluntary management disclosure system to manage the performance of social enterprises in a more systematic manner is emphasized, and the escape of the management disclosure system indirectly detects the risk signal that unstable social enterprises have difficulty surviving. This suggests that a suitable support policy is needed.