금융기관의 공공성과 CSR = The Financial Institution`s Public Purpose and CSR

다국어 초록 (Multilingual Abstract)

The financial crisis reminds us how entwined some corporations - notably large financial corporations - are with the economy and society. Although a number of factors contributed to the downturns of the past century, corporate disregard for the greater public interest played a role. The problem with the dominant conception - shareholder primacy and wealth maximization - is that the directors are encouraged to demonstrate their allegiance to shareholder interests. This behavior leads to an unremitting focus on the short term. By the turn of the twentieth century, corporations, especially global investment banks, had become so fixated on increasing profits that they paid little attention to the public impact of their action. The starting place for any proposed reform is simple acknowledgment that corporations should be restrained by public responsibility. This is barely hurdle, since most scholars and commentators acknowledge that corporations have ethical duties, and a public purpose has historically guided corporate activity. Unfortunately, corporations are not required to perform acts that are beneficial to society ; rather, they merely need to refrain from acts that harm society. Some scholars insist that the public duty must be defined and codified. The United Kingdom enacted the Companies Act of 2006, which could offer guidance for what might the legislation of public purpose look like. Recently the banks in Korea published the historical profit maximization, but only to be criticized. Because even though the bank is a company, it must perform the public purpose. Therefore the financial institution should consider the public purpose as well as wealth maximization in its activity.

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