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The differentiated CSR activities and corporate value

Author

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  • Sang Il Kim
  • Kyung Tae Kim

Abstract

Purpose - Corporate social responsibility (CSR) index represents attributes of firms that are differentiated. The purpose of this paper is to investigate the impacts of differentiated CSR, CSRS (strategic CSR activities) and CSRD (defensive CSR activities) on R&D expenditure and its effectiveness on firm values. Design/methodology/approach - The sample includes 1,388 firm-year observations for 2004–2015 of listed firms on the Korean Stock Exchange (KSE) whose CSR measures, KEJI (Korea Economic Justice Institute) index are available from theCitizens' Coalition for Economic Justice (2016). Findings - The results show that while CSRS is positively associated with R&D expenditure, CSRD is not. Further, development costs and its interaction term with CSRS positively affect firm values. Originality/value - This study provides an important reason to separate the attributes of the CSR in future empirical studies. The results imply that the study of effects of CSR on sustainable growth or firm values should focus on CSRS rather than CSR activities in general in future research.

Suggested Citation

  • Sang Il Kim & Kyung Tae Kim, 2020. "The differentiated CSR activities and corporate value," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 29(1), pages 19-41, November.
    • Handle: RePEc:eme:arapps:ara-05-2020-0067
    DOI: 10.1108/ARA-05-2020-0067
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    Cited by:

    1. Lee, Ji Young & Lee, Hyun Ji & Masters, Allyson S. & Fletcher, Katelyn K. & Suh, Daniel D. & Golinkoff, Roberta M. & Hirsh-Pasek, Kathy, 2023. "Bringing playful learning to South Korea: An alternative pedagogical approach to promote children's learning and success," International Journal of Educational Development, Elsevier, vol. 97(C).
    2. Vecchi, Alessandra & Brennan, Louis, 2022. "Two tales of internationalization – Chinese internet firms' expansion into the European market," Journal of Business Research, Elsevier, vol. 152(C), pages 106-127.

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