Journal of the Korea Convergence Society (한국융합학회논문지)

Korea Convergence Society (한국융합학회)
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Corporate Social Responsibility and Executive Performance -Impact on Compensation Sensitivity

기업의 사회적 책임이 경영자 성과-보상민감도에 미치는 영향

  • Hwang, Seong-Jun (Dept. of Finance and Accounting Office,University of Gyeongnam Namhae) ;
  • Kim, Dong-Il (Dept. of Business Administration, Pusan National University)
  • 황성준 (경남도립남해대학 금융회계사무과) ;
  • 김동일 (부산대학교 경영학과)
  • Received : 2019.07.31
  • Accepted : 2019.09.20
  • Published : 2019.09.28
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Abstract

Companies are making great efforts to integrate CSR into various aspects of their management strategies. A lot of research has been conducted on what management intends to do indirectly and indirectly. Was performed. In this study, we conducted additional research considering executive compensation as an indicator of the motivation for management to participate in CSR. The main purpose of this study was to analyze whether accounting performance measures or market performance measures are given more weight when providing rewards for performance to corporate managers conducting CSR activities. The analysis of the relationship between CSR and executive performance-reward sensitivity showed that corporate executives who actively implement CSR pay more weight to market performance measures rather than accounting performance measures. Considering the long-term performance of CSR when paying executives' compensation, the company pays more for market performance than accounting performance. This study is expected to be useful for executives to design compensation contracts to actively induce CSR implementation.

기업들은 CSR을 다양한 측면의 경영전략으로 통합시키기 위해 큰 노력을 기울이고 있다. 기업 경영의 주요 목적이 CSR 활동이 아님에도 경영자가 CSR에 직간접적으로 참여하고 수행하는 의도가 무엇인지에 대해서 많은 연구가 수행됐다. 본 연구에서는 경영자가 CSR에 참여하는 동기를 나타내는 지표로 경영자 보상을 추가로 고려하여 연구를 수행하였다. 본 연구의 주요 목적은 CSR 활동을 하는 기업 경영자에게 성과에 따른 보상을 제공할 때 회계성과측정치와 시장성과측정치 중에서 어느 쪽에 더 가중치를 두고 보상을 제공하는지 분석하였다. CSR과 경영자 성과-보상민감도의 관련성을 분석한 결과 CSR을 적극적으로 수행하는 기업 경영자는 회계성과측정치 보다는 시장성과측정치에 더 가중치를 두고 보상을 제공하는 것으로 나타났다. 경영자 보상을 지급할 때에 CSR의 성과가 장기적으로 나타남을 고려하여 회계적 성과보다는 시장성과(주식성과)에 더 가중치를 두고 보상을 지급하는 것으로 나타났다. 본 연구를 통해 경영자가 CSR수행을 적극적으로 유도하기 위한 보상계약설계 설계에 유용할 것으로 판단된다.

Keywords

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