정부보조금이 사회적기업의 성과에 미치는 영향

[Purpose] This study aims to analyze whether subsidies to social enterprises are effectively enhancing their management performance and, as a result, boosting their sustainability and social outcomes in alignment with the subsidies’ intended purposes. [Methodology] The study employs an empirical analysis approach, utilizing data from the Social Value Research Institute’s annual evaluations of social enterprise social performance over a six－ year period from 2015 to 2020. [Findings] The empirical findings reveal several key insights. Firstly, subsidies to social enterprises are found to positively influence their prior year’s management performance. Secondly, within these performance metrics, sales and net income from the previous year positively impact current social performance. However, operating income from the previous year, influenced by labor costs, shows a negative impact on current social performance. Thirdly, subsidies to social enterprises, particularly focusing on the previous year’s performance, have a beneficial effect on current social performance. Fourthly, the study finds that subsidies positively influence employment outcomes, a vital component of social performance, with a positive correlation observed between the previous year’s ecological performance and the subsidy. [Implications] This study is significant in verifying a symbiotic structure where government subsidies enhance the management performance of social enterprises as intended, and high－ performing enterprises, in turn, improve social outcomes. Additionally, it was observed that subsidies have a positive impact on the long－term sustainability of social enterprises by incrementally improving their management performance over time.