기업의 사회적 책임활동과 기부금 및 조세부담 간의 관련성에 대한 연구

This study analyzes the effects of corporate social responsibility (CSR) activities on firm’s donation and tax. Using the Korea Economic Justice Index (KEJI)as a proxy for CSR, this study examines the CSR’s relations with donation and tax payment. Specifically, considering that firm’s donation and tax payment are perceived as an integral part of CSR, this study investigates the contradict relations of supplement and substitute. This study approaches to the examination differently from previous studies, by applying variables such as the elimination of donation and income tax items from KEJI and the effective cash income tax rate. Taking the entire sample firms, the result shows that there are no significant relations between the overall level of CSR and donations or income taxes. Partitioning the sample firms 10 groups based on the relative rank of KEJI, the result is as same as that of the entire sample firms. Additional analysis of applying the effective cash income tax rate and elimination of donation and income tax items from KEJI also does not change the results of the analysis for entire and partitioned samples. These results, to some extent, support the supplementary relation between CSR and donation, simultaneously confirming the substituting relation between CSR and income tax. Therefore, firms may prefer CSR activities such as the improvement of production efficiency, employee benefits, and safety facilities to CSR activities such as tax payments.