Social value in public enterprises from the perspective of Creating Shared Value (CSV)

The case of the Korea Expressway Corporation

Bibliographic Data

ID9962218
AuthorsYongwon Kim (0000-0002-6167-811X, Korea Expressway Corporation Research Institute, South Korea), Yong Won Kim (0000-0003-0108-8932, Korea Telecom (South Korea)), Hyeon-joung Kim (0000-0002-9687-5447, Korea Expressway Corporation Research Institute, South Korea, corresponding author)
Year2022
Volume88
Issue4
Pages1211-1227
Publication date2022-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueInternational Review of Administrative Sciences (JOURNAL)
Journal identifiersISSN: 0020-8523 • E-ISSN: 1461-7226
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1177/00208523211029765
OpenAlexW3186768658
LanguageEN
Citations received2
References cited22

Numerous scholars have noted social issues such as inequality and insufficient social capital as limitations of efficiency-oriented neoliberal development strategies. In this context, the Moon Jae-in administration in South Korea declared social value as the core value of the state. Therefore, public institutions are required to prioritize social value. Beyond ideological discussions, these social and policy changes suggest the need for concrete discussions on how to practically realize social value. Public institutions have strengthened their social responsibility, contributing to local communities and low-income groups. However, companies often consider social responsibility a cost, which impedes growth. As public enterprises, a type of public institution, have the characteristics of a company, their inherent goals of profitability or entrepreneurship may be limited by enhancing publicness to realize social value. Therefore, public enterprises face the challenge of realizing social value in a way that benefits both society and business. To devise measures to realize social value by strengthening publicness while ensuring profitability, this study focuses on Creating Shared Value (CSV), which benefits both companies and society. Publicness and profitability, two values that public enterprises pursue, are discussed, and Corporate Social Responsiblilty (CSR) is compared with the CSV perspective, which aims to benefit both. This study devises measures from the CSV perspective for realizing social value in the Korea Expressway Corporation, a public enterprise. Implications for other public enterprises are highlighted

Business · Corporate social responsibility · Corporation · Entrepreneurship · Political science · Profitability index · Public institution · Public relations · Public value · Social entrepreneurship · Value (mathematics · Corporate Social Responsibility Reporting · Entrepreneurship Studies and Influences · Finance · Innovation and Knowledge Management

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