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기업의 정당성 획득 노력과 성과: 제도주의이론 관점에서 본기업의 지속가능경영 활동과 외부 평가

Legitimacy-seeking behaviors and performances by firms: An institutional analysis of sustainable management practices and external evaluation

김도윤|신동엽|이지연
사단법인 사회적기업학회 (Academy of Social Enterprise)|2021.04|사회적가치와 기업연구 (Journal of Social Value and Enterprise)|제14권 제1호|pp. 75-111|DOI 10.32675/ses.2021.14.1.004

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참고문헌

키워드

정당성지속가능경영기업의 사회적 책임corporate social responsibilitysustainable management기업규모제도주의legitimacyfirm size이해관계자 압력DJSIinstitutional theory지속가능성 보고서stakeholder pressure
주제분류경영학

초록

본 연구는 제도주의이론의 관점에서 기업들의 정당성 획득 노력이 실제 정당성 획득 성과에 영향을 주는지를 기업의 지속가능경영 활동과 이에 대한 외부 평가를 기반으로 실증분석하였다. 이를 위해 전 세계적으로 제도화되며 확산되고 있는 지속가능경영에 주목하여 2014년부터 2018년까지의 DJSI(Dow Jones Sustainability Index) 평가 대상 국내 기업들을 대상으로 지속가능성 보고서 발간과 같은 정당성 획득 노력이 DJSI 편입과 같은 지속가능경영 외부 평가에 긍정적인 영향을 미치는지를 분석하였다. 또한 기업 특성인 기업 규모와 외부 환경 변수인 이해관계자 압력이 이를 조절하는지 분석하였다. 분석 결과 기업의 지속 가능성 관련 정당성 획득 노력은 정당성을 획득하는 성과에 긍정적인 영향을 미치고, 기업 규모와 이해관 계자 압력이 이 영향을 부(-)의 방향으로 조절하는 것으로 나타났다. 다시 말해 기업 규모가 크거나 이해 관계자 압력이 높을수록 정당성을 얻으려는 기업의 노력이 성과에 미치는 영향이 줄어든다는 것을 확인하 였다. 본 연구는 기존 제도주의이론이 정당성을 추구하는 행동이 실제 정당성 획득으로 이어지는지에 대한 연구가 부족했던 점을 보완하여, 정당성 획득 노력이 기업에 대한 외부 평가에 실질적으로 미치는 영향에 대해 연구하였다는 점에서 제도주의이론 연구의 영역 폭을 넓힌다는 데에 의의가 있다. 또한 실무적으로 기업의 정당성 획득 노력과 성과 간의 관계를 파악하는 데 있어 기업 규모나 이해관계자 압력과 같이 정당성 획득에 영향을 줄 수 있는 기업 변수, 환경 변수의 조절 효과를 파악함으로써 기업 규모와 이해관계 자에 따라 다른 노력을 고려해야 한다는 점을 시사한다.

Abstract

This paper aims to examine whether the organization’s effort to obtain legitimacy leads to actual legitimacy acquisition. The study inquires corporate sustainable management practices, which have rapidly spread worldwide, from the perspective of institutional theory. To find out whether efforts to obtain legitimacy, such as publishing sustainability report, have a positive effect on external assessments of sustainable management such as inclusion of DJSI(Dow Jones Sustainability Index), and whether corporate characteristics, firm size and stakeholder pressure moderates this relationship, data from domestic companies subject to the DJSI evaluation from 2014 to 2018 are used for empirical test. The analysis confirmed that the efforts to obtain legitimacy had a positive effect on the performance of the legitimacy acquisition. We also found that firm size and stakeholder pressure have negative moderating effects on the main effect. While the prior studies in the institutional theory literature mainly focused on legitimacy-seeking behaviors as the dependent variable, this paper examines whether such legitimacy-seeking efforts actually result in the positive evaluations. This study also suggests that it is necessary to differentiate efforts depending on corporate characteristics and environmental factors affecting the legitimacy obtaining.

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