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Dividend Policy and Corporate Social Responsibility: A Comparative Analysis of Multinational Enterprise Subsidiaries and Domestic Firms in Korea

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  • Joonil Kim
  • Yongbok Jeon

Abstract

In this study, we compare and contrast the dividend policies of multinational enterprise (MNE) subsidiaries with local firms in Korea and extract implications for corporate social responsibility (CSR). We find empirical evidence that dividend policies of MNE subsidiaries in Korea are in general determined to meet remittance requirements imposed by their parent company and have weak correlation with local CSR and investment requirements for wealth creation by local stakeholders.

Suggested Citation

  • Joonil Kim & Yongbok Jeon, 2015. "Dividend Policy and Corporate Social Responsibility: A Comparative Analysis of Multinational Enterprise Subsidiaries and Domestic Firms in Korea," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 51(2), pages 306-319, March.
    • Handle: RePEc:mes:emfitr:v:51:y:2015:i:2:p:306-319
    DOI: 10.1080/1540496X.2015.1021605
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    Citations

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    Cited by:

    1. Carlos P. Maquieira & Christian Espinosa‐Méndez & José T. Arias, 2024. "The impact of environmental, social and governance (ESG) score on dividend payment of large family firms: What is the role of financial constraints? International evidence," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2311-2332, May.
    2. Narula, Rajneesh & Van der Straaten, Khadija, 2019. "A comment on the multifaceted relationship between multinational enterprises and within-country inequality," MERIT Working Papers 2019-035, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    3. Lindner, Thomas & Klein, Florian & Schmidt, Stefan, 2018. "The effect of internationalization on firm capital structure: A meta-analysis and exploration of institutional contingencies," International Business Review, Elsevier, vol. 27(6), pages 1238-1249.
    4. Salvi, Antonio & Nirino, Niccolò & Battisti, Enrico & Gianfrancesco, Igor, 2024. "Payout policy and ESG: A European investigation," Research in International Business and Finance, Elsevier, vol. 68(C).
    5. Eduardo C. Oliveira & Michele N. Juca, 2021. "Multinational Dividend Policies: A Systematic Literature Review to Future," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 442-465.
    6. Unsal, Omer & Brodmann, Jennifer, 2019. "Workplace environment and payout policy," Journal of Economics and Business, Elsevier, vol. 106(C).
    7. Fernau, Erik & Hirsch, Stefan, 2019. "What drives dividend smoothing? A meta regression analysis of the Lintner model," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 255-273.
    8. Renata Legenzova & Otilija Jurakovaite & Agne Galinskaite, 2017. "The Analysis of Dividend Announcement Impact on Stock Prices of Baltic Companies," Central European Business Review, Prague University of Economics and Business, vol. 2017(1), pages 61-76.

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