CSR활동이 기업가치에 미치는 영향

Due to the recent changes in the business environment, a variety of stakeholders, such as investors and consumers, have called for corporate social responsibilities (CSR) that create social values beyond economic value. However, previous studies have failed to classify CSR activities as CSR authenticity, CSR consistency, CSR relevance, and CSR discrimination, and to identify the interrelationships between these factors and the corporate image, organizational identification and firm value. In contrast to the previous studies, this study analyzes the effects of CSR authenticity, CSR consistency, CSR relevance, and CSR discrimination on corporate image, organizational identification and firm value systematically by establishing a single integrated structural equation model. The results of this study are as follows. The hypothesis that CSR authenticity has an effect on the corporate image was accepted. However, the hypothesis that CSR authenticity affects the organizational identification was rejected. Whereas the hypothesis that CSR consistency affects the corporate image was adopted, the hypothesis that CSR consistence affects the organizational identification was rejected. The hypothesis that CSR relevance has an impact on the corporate image was rejected, however, the hypothesis that CSR relevance has an effect on the organizational identification was adopted. The hypothesis that CSR discrimination affects the corporate image was rejected. On the other hand, the hypothesis that CSR discrimination has an effect on the organizational identification was adopted. Furthermore, the hypothesis that the corporate image has an effect on the organizational identification was adopted. The hypothesis that the corporate image affects the firm value was adopted. In addition, the hypothesis that the organizational identification has an effect on the firm value was also adopted.