View : 80 Download: 39

Corporate Social Responsibility as a Strategic Means to Attract Foreign Investment: Evidence from Korea

Title
Corporate Social Responsibility as a Strategic Means to Attract Foreign Investment: Evidence from Korea
Authors
Lee, JuilKim, Sang-JoonKwon, Insu
Ewha Authors
김상준
SCOPUS Author ID
김상준scopus
Issue Date
2017
Journal Title
SUSTAINABILITY
ISSN
2071-1050JCR Link
Citation
vol. 9, no. 11
Keywords
CSR performancecorporate reputationforeign ownership
Publisher
MDPI AG
Indexed
SCIE; SSCI; SCOPUS WOS scopus
Abstract
This study examines how foreign investment can be driven by corporate social responsibility (CSR). By specifying the underlying mechanism of foreign investors' stock picking behavior, we argue that CSR can attract foreign investment. Given that CSR actions are taken to meet various needs of its stakeholders, the host firm can convey a reliable signal to foreign investors as well as the stakeholders. As such, foreign investments can be increased in the host firm. This idea is examined in a sample of Korean firms. We hypothesize that Korean firms, as host firms, will have more foreign investments, instantiated by foreign ownership, if they are more actively engaged in CSR. To test this argument, we collected a panel dataset of the Korea Economic Justice Institute (KEJI) Index between 2004 and 2009 to measure CSR performance of the firm. We estimated foreign ownership with respect to CSR performance. As a result, we found a positive effect of CSR performance on foreign ownership. Given the importance of foreign investment in host countries, this study opens an avenue that can account for foreign investors' stock-picking behavior.
DOI
10.3390/su9112121
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
Files in This Item:
Corporate social responsibility.pdf(225.18 kB)Download
Export
RIS (EndNote)
XLS (Excel)
XML


qrcode

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

BROWSE