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Do Korean chaebols practice noblesse oblige? Evidence from their CSR activities

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  • Denis Yongmin Joe
  • Jiyoung Lee
  • Frederick Dongchuhl Oh

Abstract

This study analyzes the corporate social responsibility (CSR) activities of the Korean chaebols to establish whether these firms engage in social duties and practice noblesse oblige. To measure the extent of the CSR activities, we use the index of the Korean Economic Justice Institute (KEJI) from 2005 to 2017. We find that the level of the CSR activity among chaebol firms with weak governance is low. Moreover, we show that chaebol firms with credit rating concerns reduce their CSR activities. Overall, our results indicate that Korean chaebols tend to neglect the CSR activities.

Suggested Citation

  • Denis Yongmin Joe & Jiyoung Lee & Frederick Dongchuhl Oh, 2021. "Do Korean chaebols practice noblesse oblige? Evidence from their CSR activities," Economics and Business Letters, Oviedo University Press, vol. 10(1), pages 45-57.
    • Handle: RePEc:ove:journl:aid:14515
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/14515
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