Corporate Sponsorship for Non Profit Art Organizations in Korea

Corporate Sponsorship for Non Profit Art Organizations in Korea

We examine over 300 firms which ranked at least once in fifty one top ranking contributors to the arts and culture in Korea for the seven-year period (1996-2002). We then investigate five business related categories of these firms first without adjusting the size effect and then adjusting the size effect by observing the contribution per employee. The five categories are sales volume, the size of assets, net earnings, number of employees, and the age of the firm. The number of observation is less than 300 due to insufficient business related data. Firms in manufacturing industry and financial institutions and insurance sector are the highest contributors. As for the absolute amount of contribution, we can say firm with large sales volume, large assets and large number of employees tend to give more. But if we take out the size effect by observing the contribution per employee, smaller firms in terms of assets and number of employees tend to give more. Some policy implications may be derived from these results obtained in this study.