A Study on the Effect of Firm Value on Corporate Social Responsibility Activity

Sustainability Management through Corporate Social Responsibility Activities in the Life Insurance Industry: Lessons from the Success Story of Kyobo Life Insurance in Korea

“…Studies undertaken by various researchers, such as Schwart (1968), Cochran and Wood (1985), Posnikoff (1997), and David et al (2006), argue that a positive relationship exists between CSR activities and corporate performance [12][13][14][15]. In contrast, other studies, such as those by Blomstorm and Davis (1975), Vance et al (1975), and Barnea and Rubin (2005), claim that there is a negative correlation between CSR activities and corporate value or corporate performance [11,[16][17][18].…”

“…Another reason for variations in the concept of CSR is that companies successfully conduct CSR activities that focus on external expansion based on a sense of duty or for show; however, they do not possess the internal sophistication to understand the true nature of CSR [10]. Moreover, even when examining the relationship between CSR and corporate value, which is widely used as a criterion for judging CSR performance, research results have been inconsistent [11]. Studies undertaken by various researchers, such as Schwart (1968), Cochran and Wood (1985), Posnikoff (1997), and David et al (2006), argue that a positive relationship exists between CSR activities and corporate performance [12][13][14][15].…”