이사회의 다양성이 기업의 사회적 성과(CSP)에 미치는 영향 = Exploring the Relationship between Board Diversity and Corporate Social Performance in Korea

다국어 초록 (Multilingual Abstract)

The extant literature in Western contexts has explored the relationships between various aspects of board diversity and corporate social performance (CSP), but the relationships need to be reanalyzed in non-Western contexts, especially in Korea, given the distinct theoretical assumptions across countries. While Western contexts emphasize wider and various inputs for corporate decision-making, Korean contexts are presumed to underscore harmonious and unified inputs for the decision. In this regard, we propose that board diversity and CSP in Korea should be negatively related. From 1,060 firm-year observations during years 2002-2005 in Korean large firms, we found that board diversity in terms of tenure, academic major, and educational level is negatively associated with CSP respectively, whereas diversity in previous career experiences of board members is not related to CSP. Our findings suggest that there is no universal pattern of the relationship between board diversity and CSP due to the idiosyncratic aspects of institutional contexts across countries. Theoretical contributions and practical implications will be discussed.

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