We examine the determinants of and investor responses to corporate environmental, social, and governance (ESG) bond issuance in Korea. We find that ESG bond issuance is positively associated with firm size and foreign ownership stakes. We also find that firms that establish ESG committees at the...

We hypothesize that firms are incentivized to manage corporate social responsibility (CSR) strategically as a result of social pressure, uncertain value implications, and investors' reliance on delimited measures of CSR performance. To test our hypotheses, we analyze Korean firms, whose ratings...

We examine the effects of taxes on Corporate Social Responsibility (CSR). Employing a tax reform in Korea that imposed a new tax on cash retention, we find that treated firms improve CSR performance after the tax reform was enacted. This result is driven by improvement in environmental and...