• Journal of Distribution Science
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• v.14 no.10
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• pp.59-72
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• 2016

Purpose - This study expands the corporate social responsibility (CSR) model and concepts by adding to it the concepts of corporate identity and public existence responsibility. Then, this study examines the structural relationship between corporate identity and public existence responsibility. This study contributes to expanding CSR to give customers a different perspective from previous studies in that it specifically measures corporate public existence responsibility, corporate identity, and corporate value creation and investigates the structural relationship. Research design, data, and methodology - This study addresses specific research questions. First, it asks whether non-financial performance is a component of CSR; second, it asks if the improvement in the corporate image should be treated as its corporate identity; and third, it tries to expand CSR concepts from corporate citizenship and public market awareness to public existence responsibility. The research hypothesis is formulated to confirm the relationships among CSR, corporate value creation, corporate identity, and public existence responsibility. Result - This study confirms that CSR has a positive correlation with corporate value creation and that CSR has a relatively positive correlation with corporate identity and public existence responsibility. Additionally, it confirms a positive correlation between corporate identity and public existence responsibility. However, corporate identity and public existence responsibility do not have an effect on corporate value creation. However, the influence of public existence responsibility confirmed the influence of corporate value creation through corporate identity as a mediating variable. Conclusion - This study argues that CSR produces more general performance including both financial and non-financial performance. It also confirms that the goals and performance of CSR can substitute for corporate value creation from general performance. It further confirms that public existence responsibility includes market public awareness, corporate images, and corporate associations. It suggests that corporations should see themselves as having public existence responsibility. Further, they should devise strategies to build corporate identities that associate with corporate goals and visions. Finally, this study contributes to the expansion of perspectives on CSR theoretical concepts and goals of performance of the corporation throughout the corporate value creation process.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.1
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• pp.10-26
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• 2017

This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the 'traditional' measures of financial performance on account of its robustness and its immunity from 'creative' accounting. Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are "not mandatory for the Indian companies." Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. The study indicates that "there is no strong evidence to support Stern Stewart's claim that EVA is superior to the traditional performance measures in its association with MVA." As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.369-379
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• 2018

The purpose of this study is to examine the impact of social enterprise's shared value creation on corporate performance and to develop policy measures to enhance competitiveness of social enterprises. The main results and implications are as follows. First, according to the general characteristics of social enterprises, the difference between shared value creation and organizational performance was not statistically significant. In other words, although the social enterprise has various organizational characteristics, it does not differ from the shared value creation or the organizational performance that it creates. The rapid increase of social enterprises led to a rapid increase in various types of social enterprises, but there is no difference between shared value creation and organizational performance. Second, the results of analyzing the impact of shared value creation on the organizational performance of social enterprises revealed that social performance was statistically significant influenced by re-recognition of product market and regional cluster among sub-factors of shared value creation. Among the sub-factors of social enterprise's economic performance, the re-recognition of the product market had a statistically significant effect on the overall organizational performance of social enterprises. Among the sub-factors of shared value creation. In the future, it will be necessary to make effort to improve corporate performance by introducing the concept of shared value creation for social enterprise and making policy efforts to activate it.

• Asia Marketing Journal
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• v.20 no.4
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• pp.21-47
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• 2019

This study empirically examines the synergy effect of a corporate-level loyalty program on customer equity (CE) known as the lifetime value of current and future customers (Blattberg et al. 2009). A corporate-level loyalty program refers to a company-wide integration loyalty program at the corporate-level in which subsidiaries (multi-divisions) participate as program members. It does not merely examine whether there is an integration effect of a corporate-level loyalty program from the CE perspective, but it provides practical implications for a firm's strategic focus by identifying which value creation channels (i.e., acquisition, retention, and cross-selling), brand characteristics (i.e., size of the customer base before integration, diversity of products, and sales channel type), and consumer characteristics (i.e., customer relationship stage, transaction amount before integration, transaction period, and number of purchased brands) are affected the most by the synergy effect.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.153-166
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• 2022

Purpose - ESG(Environmental, Social and Governance) rating is an indicator to predict the sustainable development and long-term value creation of enterprises, which is becoming more and more important. This study divided the ESG rating into each sector(E, S and G) to identify which ESG elements are effective in enhancing enterprise value according to the characteristics of the enterprise, which is different from previous studies. Design/methodology/approach - In this study, Bloomberg ESG Disclosure Score was used to empirically analyze the relationship between ESG ratings and corporate value by taking the listed companies of China's Shanghai Composite Index from 2017 to 2020 as the object. Findings - First, the relationship between ESG ratings and enterprise value shows a statistically significant positive correlation, which supports the results of previous studies. Second, the analysis results from the classification of ownership structure of enterprises (state-owned enterprises and non-state-owned enterprises) show that compared with state-owned enterprises, the ESG ratings of non-state-owned enterprises is more closely related to enterprise value. Third, the analysis of various industries (manufacturing and non-manufacturing) shows that compared with manufacturing, ESG scores of non-manufacturing has a more positive effect on enterprise value. Lastly, the analysis by industry type (heavy-contaminated companies, non-contaminated companies) confirmed that ESG scores of non-contaminated companies has a positive effect on corporate value than heavy-contaminated companies. Research implications or Originality - This study classified ESG evaluation grades(E, S and G) for listed companies in China and analyzed in detail how they affect corporate value according to corporate characteristics, drawing implications for what ESG indicators should be focused on to increase corporate value.

• The Journal of the Korea Contents Association
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• v.20 no.4
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• pp.348-357
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• 2020

Discussions on entrepreneurship are increasing, but the methodology that can be applied to actual small to mid-sized businesses and venture firms is insufficient, and research on measuring achievement and application is lacking. In this regard, this paper analyzed actual proof on the relationship among entrepreneurial orientation, R&D capabilities, market share, and the creation of BSC future values that can be empirically applied to small to mid-sized businesses and venture firms. A factor analysis and hypothesis verification have been conducted with the SEM model utilizing SmartPLS 3.0 on the recent 7th year (2017) data from the Human Capital Corporate Panel (HCCP) of the Korea Research Institute for Vocational Education and Training. The actual proof analysis revealed that entrepreneurial orientation creates a positive influence on R&D capabilities and the creation of BSC, and also on market share, with R&D capabilities as a parameter. On the other hand, the relationship between entrepreneurial orientation and market share proved to be not statistically meaningful. Future value creation of BSC also could not mediate the relation between entrepreneurial orientation and market share. Therefore, this research has proven that a company must cultivate its personnel's R&D capabilities with their entrepreneurial orientation. Furthermore, it is a significant fact that BSC, the conventional measuring tool for performance management, could not mediate the relationship between entrepreneurial orientation and market share. Future companies aiming at innovation should consider developing a new index that could measure the corporate-level entrepreneurship and conduct performance management.

• The Journal of Information Systems
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• v.23 no.4
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• pp.93-117
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• 2014

How can business ecosystems be a source of firm's competitiveness? Is corporate social responsibility (CSR) is an investment activity for building sustainable business ecosystems? The purpose of this research is to identify the relationship between CSR, social value, sustainable business ecosystems, and firm's competitiveness by introducing a mediating role of social capital. We conducted in-depth interviews with seven informants from two domestic firms and four oversea firms. Three propositions were drawn by analyzing qualitative data collected from the interviews and literature review. Various activities creating social value including CSR and CSV (Creating Shared Value) are positively associated with sustainable business ecosystems. Firm accumulates social capital of the business ecosystem through creation of social value. Finally, the social capital of business ecosystem has a positive influence on firm's competitiveness. Implications were suggested for academics and practitioners.

• Management & Information Systems Review
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• v.1
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• pp.133-165
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• 1997

In the situation of Korean company today it is considered that the necessity of developing a corporate culture is not only more important than ever, but also indispensable to the organization management in the future. Focused on the development of corporate culture, the purpose of this study is to find out the influence of the direction of corporate culture development on its own strength. The method of this study is the empirical method based on theoretical one with the previous bibliographical studies. It is thought that in viewpoints of the culture pragmatists, the development of corporate culture means the intentional and systematic creation of culture. And, the direction of corporate culture development is thought as the management philosophy a corporate desires, or the desirous direction of corporate culture to express the management policy. According to the results of this study, it is found that the progressive direction of the corporate culture development has the most intensive influence on the various sides. Therefore, the management should research and develop the progressive value of culture more deeply, to get the effective development of corporate culture.

• Journal of Korean Society for Quality Management
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• v.46 no.3
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• pp.695-706
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• 2018

Purpose: This study investigates success factors of ENEX which is a leading company in the kitchen furniture industry in South Korea, based on the perspective of customer satisfaction and corporate social responsibility. ENEX has grown to a successful mid-sized firm with competitive technology as a result of pursuing customer-oriented management since its establishment in 1971. Methods: Recognizing the importance of customer satisfaction, this study analyzed several cases of customer-oriented management of ENEX and interpreted their findings. Results: The successful embedment of customer satisfaction DNA in the whole organization is a major success factor of ENEX. It has been applying 7 WISE policy to all business processes from the product development to after-service to create customer value. Also, top management has fully exercised leadership to make customer-oriented organization, leading to ENEX being a competitive firm to provide products and services which can impress customers. Conclusions: ENEX has conducted various social activities based on corporate social responsibility. This study would also provide meaningful insights to understand the importance of customer-oriented management.

• Proceedings of the CALSEC Conference
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• 1998.10a
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• pp.27-43
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• 1998

Recently, most corporations in Korea need to construct new management system for overcoming economic crisis. Firstly, this paper suggests “Value Creation system”. Secondly, this paper suggests CALS as strategic substitute to achieve market efficiency, capital efficiency, personal efficiency, and operation efficiency, which are four critical factors of “Value Creation system”. Korean corporations should build new business model founded on cooperation by completing CALS system and reconstruct competitive management system by using knowledge and know-how accumulated in that process. Because most corporations keep exclusive corporate culture and little experience of cooperative relationship among businesses, strategic approaches are essential for construction of CALS. These are vertical integration, organization of CALS construction teams, concurrent development of product/process, CEO's iron will, Precise vision and strategies, and education/training of participant.