Corporate Sustainable Management, Dividend Policy and Chaebol

This study empirically examines the relationship between corporate sustainable management (CSM) and dividend policy. Among various motivations related to dividends, this CSM policy based on agency signaling theory. After examining policy, we investigate whether belonging a large business group (chaebol group) has significant effect The analysis period is from 2011 2018, ESG ratings of Korea Corporate Governance Service are used as proxies for CSM. empirical results show that dividends have in positive direction. means firms with excellent activities higher levels than those do not. Furthermore, association more negative chaebol group. indicates firm belongs weakened. It conglomerates, meaning amount Our focuses determinant effects dividends. Given resolving interest incompatibility investors managers focus governance, policies can be method managers.