How Does Corporate Social Responsibility Affect Sustainability of Social Enterprises in Korea?

Do Embedded and Peripheral Corporate Social Responsibility Activities Lower Employees' Turnover Intentions?

Corporate social responsibility (CSR) remains a topic of interest for both theory and practice due to its multifaceted avenues and potential for growth. We have chosen embedded CSR and peripheral CSR measures to evaluate how these activities affect the employee turnover intentions via a mediation mechanism of organizational citizenship behavior (OCB). In doing so, this study addresses important stakeholder concerns and provides meaningful managerial contributions for the employers to encourage more employee participation (through lowering turnover intention) toward sustainable corporate performance. This study incorporates four hypotheses that are tested in a structural equation modeling framework by employing Warp-PLS software. Data were collected from 297 employees working in firms that are renowned for their CSR initiatives. We found support for our key hypotheses leading to strong theoretical contributions to the stakeholder theory. We have addressed the main issues of stakeholders' response to the CSR tradeoffs and have tried to develop a deeper understanding of managers in initiating peripheral and embedded CSR activities for their firms.

Exploring the Relationship Between ESG Performance and Green Bond Issuance

As an important part of green financial instruments, green bonds have become increasingly popular in recent years. This study employs green bond issuance as a proxy to measure investors' recognition of a firm's sustainable activities by linking literature on ESG and financial performance and those on green bond issuance. This study innovatively creates the datasets by combining the ESG performance of Chinese listed companies with their green bond issuance from 2016 to 2020 based on the Wind and CSMAR databases and examines the relationship between the performance of ESG dimensions and green bond issuance from the perspective of listed firms in the emerging market. The results indicate that decent ESG practices not only increase the propensity in green bond issuance by listed firms but also help them issue more green bonds. More specifically, we found evidence to support this finding from every dimension of these sustainable practices. However, this study identified the negative effect of financial performance in issuing green bonds when combining the effect of ESG performance.