기업의 사회적 책임 활동이 인건비 행태에 미치는 영향

[Purpose]This study focuses on the human resource policy for employment among corporate social responsibility (CSR) activities, and examines the effect of CSR activities on labor cost behavior. [Methodology]I analyze the effect of corporate social responsibility activities (KEJI index of the Korea Economic Justice Institute) on firms’ employee adjustment in firms listed on the Korea Stock Exchange using the asymmetric cost behavior framework of Anderson et al. (2003). [Findings]I find that the asymmetric change in the labor cost due to the change in sales is reinforced in CSR firms. This result suggests that firms that actively carry out social responsibility activities make more rigid decision making in relation to manpower adjustment, which can enhance the employment stability of employees. In addition, the sample is divided into surplus and deficit, this study finds that the differentiated labor cost behavior of CSR firms is significant only in surplus sample. [Implications]As the importance of job stabilization has also been emphasized for general private firms, with the recent announcement of various policies related to the creation of stable jobs for the public, such as the conversion of non－regular workers in the public sector to regular workers, this study has policy implications.