Family Firms, Chaebol Affiliations, and Corporate Social Responsibility

This study analyzes the corporate social responsibility (CSR) activities of family-owned firms by investigating public companies in Korea. By nature their governance structures, which are aligned with interests shareholders and management, family managed from a long-term perspective based on sense ownership. While CSR implementation entails investment costs, it ultimately increases firm value enhancing firm’s reputation brand image. As such, expected to be more active than non-family regarding investments. We conducted an empirical analysis Korean Economic Justice Institute Index (KEJI Index) Citizens’ Coalition for found that firms’ scores were higher those firms. indicates relatively activities, as they viewpoint. However, classified large-scale groups (chaebols) had lower activity levels. is because when groups, can enjoy monopolistic market positioning through subsidiaries, thus likely utilize resources originally required other projects conform pursuit interests.