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Dividend Policy and Corporate Social Responsibility: A Comparative Analysis of Multinational Enterprise Subsidiaries and Domestic Firms in Korea

ABSTRACT In this study, we compare and contrast the dividend policies of multinational enterprise (MNE) subsidiaries with local firms in Korea and extract implications for corporate social responsibility (CSR). We find empirical evidence that dividend policies of MNE subsidiaries in Korea are in general determined to meet remittance requirements imposed by their parent company and have weak correlation with local CSR and investment requirements for wealth creation by local stakeholders.