This paper examines corporate carbon-offsetting, in which firms compensate for carbon emissions by financing carbon-reduction projects elsewhere. Analyzing offset purchase disclosures by Korean firms during the 2011-2019 period, we examine what drives companies to buy offsets and what effects...

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...

Korean Abstract: [연구목적] 본 연구는 이사회의 독립성과 성별 다양성, 이사회 구성원의 환경 전문성이 기업의 탄소배출 성과에 미치는 영향을 실증분석을 통해 검증하는 것을 목적으로 한다. [연구방법] 2011~2019년 기간 동안...

We investigate the effects of corporate governance on foreign ownership. To do so, we exploit a reform in Korea, which mandated that corporate boards governing large public firms must form audit committees and ensure that outside directors comprise 50% of their members, as an event that enhanced...

This paper examines corporate carbon-offsetting, in which firms compensate for carbon emissions by financing carbon-reduction projects elsewhere. Analyzing offset purchase disclosures by Korean firms, we examine what drives companies to buy offsets and what effects offset consumption has had on...

This paper examines corporate carbon-offsetting, in which firms compensate for carbon emissions by financing carbon-reduction projects elsewhere. Analyzing offset purchase disclosures by Korean firms during the 2011-2019 period, we examine what drives companies to buy offsets and what effects...

We find that investors responded positively to a mandated gender quota in Korea, which requires large public firms to include at least one female director on their boards. Investor responses were more positive for firms with high risk, weak corporate governance, and poor social performance,...

This study investigates the effects of information asymmetry on shareholder participation. We find that a drop in analyst coverage following brokerage house closures and mergers is associated with an increase in the number of shareholder proposals. This effect is more pronounced for firms with...

In Korea, firms can recognize some research and development (R&D) expenditures as assets if they satisfy capitalization criteria and expense the rest. We show that each of the expensed and capitalized components conveys differential information that helps explain corporate financing policies and...