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Asian Review of Financial Research Vol.35 No.4 pp.155-188
A Comprehensive Survey of the Literature on Corporate Social Responsibility in Korean Firms
Kyeong Woo Wee Professor, Division of Business Administration, Sookmyung Women's University
Yun Sik Kang Associate Professor, College of Business Administration, Kangwon National University
Jaehyun Lee Assistant Professor, School of Finance, Soongsil University
Key Words : Corporate Social Responsibility,Responsible Investment,ESG,Firm Value,Sustainability


This study surveys prior studies on corporate social responsibility (CSR) in Korean firms that have been conducted between 2000 and the present. It introduces how Korean researchers define CSR conceptually and develop CSR-related theories. We then discuss how CSR affects Korean firms and stakeholders by comprehensively reviewing prior studies. To this end, we collect and categorize CSR-related papers by subtopics, such as CSR concept, firm value, cost of capital, risk, compensation and ownership structure, and review the research results by topic. We then also review studies on responsible investment (RI). Lastly, we suggest topics and directions for future research.
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