부산대학교 도서관

This study focuses on finding an alternative solution done on previous studies to the CSR activities and how CSR activities effect the continuous growth and financial performance of the companies. First, the result which used the integrated data from 2006 to 2012 has found that the effect of the foreign institutional investors’ ownership in this year on the total CSR activities of company in this year also the previous year is the significant positive relationship. Second, the effect of the total CSR activities in this year also the previous year on the firm value in this year showed the significant positive relationship. And the effect of the foreign institutional investors’ ownership in this year on the firm value in this year showed the significant positive relationship. In conclusion, the CSR activities can be the very strategic means which ultimately improves the firm value by the Foreign Institutional Investors' meaningful role. And the Foreign Institutional Investors as professionals for an efficient stock market constantly analyze the CSR activities and reflect them to the investment decision making process leading to an increase in firm value.