기업의 사회적 책임과 주주행동:미국과 한국의 소액주주운동 비교

초록

Today shareholder activism is regarded as an important tool in embedding the way in which the corporations work for society. In this study, I seek to explain the growing influence of shareholder activism in the US and Korea. This study utilized corporate social responsibility(CSR) on shareholder activism to explain relationships between small shareholders and the corporations. In particular, this study attempts to present the major characteristics in shareholder activism between the US and Korea. This research interest is centered around i) the major actors, ii) working mechanism, iii) the crucial ways and means, and iv) ideological orientation, of the movement. This study found that there have been major characteristics in the two countries: first, the American shareholder activism has been no longer based on the social movement led by NGOs, but on the corporate social investment led by the institutional investors. On the other hand, the Korean shareholder activism has been led by NGOs; second, the American institutional investors are interested in corporate social responsibility but they also pursue financial success, while the Korean NGOs focus on the chaebol reform registrations; third, in the US, the crucial ways of the movement are direct communications for settlements or withdraw of shareholder proposals, meanwhile the issue fighting and law suits are the major way of the movement in Korea; finally the American activism, in terms of ideological orientation, has been broaden from the left to the right, while the Korean activism has been influenced by the left.

키워드