This writer have thus far reviewed the civil and criminal obligations of the directors of a parent company that sponsored financially troubled affiliates. What was discussed here applies to logistics companies in the same manner. Hanjin Shipping cannot expect its parent company, Korean Air to prop it up financially. If such financial aid is offered without any collateral, under Korean criminal law, the directors of the parent company bears the burden of civil and criminal responsibility. One way to get around this is to secure fairness in terms of the process and the content of aid. Fairness in terms of process refers to the board of directors making public all information and approving such aid. Fairness in terms of content refers to impartial transactions that block out any possibilities of the chairman of the corporate group acting in his private interest. In the case of Korean Air bailing out Hanjin, the meeting of board of directors were held five times and a thorough review was conducted on the risks involved in the loans being repaid or not. After the review, measures to guard against undesirable scenarios were established before finally deciding on bailing out Hanjin. As such, there are no issues. In terms of the fairness of content, too, there were practically no room for the majority shareholder or controlling shareholder to pocket profits at the expense of the company. This is because the continued aid offered to a financially troubled company (i.e. Hanjin Shipping) was a posing a burden to even the controlling shareholder. This writer argues that the concept of the interest of the entire corporate group needs to be recognized. That is, it must be recognized that the relationship of control and being controlled between parent company and affiliate company, or between affiliate companies serves a practical benefit to the ongoing concern and growth of the group and is therefore just. Moreover, the corporate group and its affiliates, as well as their directors and management must recognize that they have an obligation to prioritize the interests of the corporate group ahead of the interests of the company that they are directly associated with. As such, even if Korean Air offered a loan to Hanjin Shipping without collateral, the act cannot be treated as an offense to law, nor can the directors be accused of damages that they bear the responsibility of compensating under civil law.
Proceedings of the Korea Database Society Conference
/
1994.09a
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pp.105-129
/
1994
The information system of corporations are facing a new environment expressed by miniaturization, decentralization and Open System. It is therefore of utmost importance for corporations to adapt flexibly th such new environment by providing for corresponding changes to their existing information systems. The objectives of this study are to identify this new environment faced by today′s information system and develop effective methods for data resource management under this new environment. In this study, it is assumed that the new environment faced by information systems can be specified as Distributed Computing Environment, and in order to achieve such system, presents Client/server architecture as its representative computing structure, This study defines Client/server architecture as a computing architecture which specialize the fuctionality of the client system and the server system in order to have an application distribute and perform cooperative processing at the best platform. Furthermore, from among the five structures utilized in Client/server architecture for distribution and cooperative processing of application between server and client this study presents two different data management methods under the Client/server environment; one is "Remote Data Management Method" which uses file server or database server and. the other is "Distributed Data Management Method" using distributed database management system. The result of this study leads to the conclusion that in the client/server environment although distributed application is assumed, the data could become centralized (in the case of file server or database server) or decentralized (in the case of distributed database system) and the data management method through a distributed database system where complete responsibility and powers with respect to control of data used by the user are given not only is it more adaptable to modern flexible corporate environment, but in terms of system operation, it presents a more efficient data management alternative compared to existing data management methods in terms of cutting costs.
Journal of the Korean Operations Research and Management Science Society
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v.39
no.4
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pp.33-49
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2014
This study empirically examines the impact of firms' environmental (E), social (S), and governancial (G) factors on their short-term and long-term values. To measure firms' non-financial performance, we use ESG performance grades published by KCGS (Korea Corporate Governance Service). We employ stock log return as the proxy of each firm's short-term value, and Tobin's Q ratio as that of its long-term value. From a series of regression analyses, we find each of the ESG factors generally has a negative impact on stock return while it has a positive impact on the Tobin's Q ratio. These results imply that firms' effort for enhancing their non-financial performance may adversely affect their financial performance in a short term; but in the long-term point of view, firms' values increase through their good images engraved by their respective social, environmental and governancial efforts. In addition, we compare the relative strength of impact among E, S, G, the three non-financial factors on the firms' value measured in Tobin's Q ratio, and find that S (social factor) and G (governancial factor) give statistically significant impact on the firms' value respectively. This result tells us it would be advised to strategically embed CSV (creating shared value) pursuing both of profits and social responsibility in the firms' future agenda. While E (environmental factor) is shown to be an insignificant factor for the firms' value, it should be emphasized as a major concern by all the stakeholders in order to form a sound business ecosystem.
Journal of the Korean Society of Clothing and Textiles
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v.40
no.1
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pp.26-40
/
2016
The importance of Corporate Social Responsibility (CSR) implementation is increasing and CSR activity has become a core activity for firms. The increase on CSR activity expenditures also increases the need for strategic. When firms implement CSR strategically, firms need to consider consumers' perspectives toward CSR. This research investigated how Korean fashion companies integrate consumers' CSR expectations into CSR implementation. Through a qualitative study, we researched a firm's consideration of consumers which are reflected in detailed procedures of CSR implementation. We conducted in-depth interviews with executives and managers in charge of CSR and found the following results. First, motivations for CSR implementation were both strategic and moral along with consumers who play a crucial role in CSR motivation. Second, firms conducted various strategic CSR activities differentiating themselves using a specific resource. Third, self-CSR evaluation was not active and structured. Few companies were collecting consumer responses to CSR activities. Last, executives and managers have difficulties to perform CSR activities due to gaps between ethical consumption consciousness and the ethical consumption behavior, measurement of CSR effect, and lack of understanding of strategic CSR. The results of our study show that firm's consideration of consumers is insufficient despite executives and managers who strongly agree with the need for strategic CSR.
Journal of Korea Society of Digital Industry and Information Management
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v.15
no.1
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pp.157-172
/
2019
The purpose of this study was to explore the moderating effect of food safety scandals on the relationship between food company's Corporate Social Responsibility(CSR) engagement at different levels and brand image in the Chinese dairy company context. In addition, this study also examined the mediating effect of brand image on CSR engagement and consumer loyalty. The study adopted a $2{\times}2$ between-subjects experimental design using scenarios. Four scenarios provided a mixed combination of yes or no cases for food safety scandal, and high or low cases for a dairy company's CSR engagement. In this study, survey was used to collect data from Chinese consumers. Of these, 377 valid data were collected from a sample of average Chinese consumers over the age of 20, collected through the internet. The results show that CSR engagement at different levels has a significant effect on brand image and food safety scandal has a significant moderating effect on the relationship between the two. This study expanded the previous study on the sensitivity of consumers to CSR activities in eastern China. At the same time, according to the results of the study, different CSR engagement of food enterprises does have a significant impact on brand image and consumer loyalty. In particular, high CSR engagement reduces negative impact on brand image through the moderating effect of food safety scandals. Therefore, for food business managers, actively participate in CSR activities, and actively enhance the engagement has a significant influence on the management of brand image.
Journal of the Korean Society of Clothing and Textiles
/
v.43
no.2
/
pp.274-287
/
2019
Most corporations engage in Corporate Social Responsibility (CSR) activities. Consumers are aware of CSR activities in different domains and use the perception and evaluation in purchase decision making. This study reveals how the relationship between consumer perception about a fashion corporation's CSR activities and product evaluation (such as perceived expertise and attractiveness) affects behavioral intention. This study discussed implications for store designs depending on whether it is actively engaging in CSR communication. Two virtual fashion store images of modern or eco design were used as stimuli. The study was conducted from July to August, 2018 based on women in their 20s and 30s. We collected 154 eco designs and 157 modern design responses. The findings of the study show that consumer perceptions of CSR activities affected perceived expertise and attractiveness. Further, perceived expertise and attracti-veness led to purchase intention and time spent in the store. The store design variation had no differences in mean values of consumer perception; however, evaluation and purchase intention indicated that a varied store design emphasized different corporation capabilities.
Domestic industrial accidents continue to increase, with 2,142 deaths in 2018, up by 185 (9.5%) from 1,957 deaths in 2017. Industrial accidents that cause loss of human lives pose a serious risk to businesses because of the strengthening of safety regulations and the changing public perception of social responsibility. Accordingly, to prevent industrial accidents, companies regularly conduct onsite safety activities and conduct education and training to raise awareness among employees. However, many such corporate activities are not conducted voluntarily and practically by employees but mostly by formal implementation. To discontinue this customary and passive behavior of employees and establish a mature safety culture, strengthening the execution power of safety management at the site is of paramount importance, and to this end, we aim to utilize the safety practice index (SPI). In this study, the SPI calculated on the basis of the results of the 2018 and 2019 risk management and safety activities of a site was compared with the reported safety accidents. The results confirmed that the SPI index can be used as a valid indicator for safety activities for accident prevention, such as strengthening leadership and safety policies to grade and manage safety management levels for a certain period of time or by a department or to convert weaknesses into strengths.
Purpose: The purpose of this paper is to present implications by analyzing research trends on CSR, CSV and ESG by text analysis and visual analysis(Comprehensive/ Fields / Years-based) which are big data analyses, by collecting data based on previous studies on CSR, CSV and ESG. Methods: For the collection of analysis data, deep learning was used in the integrated search on the Academic Research Information Service (www.riss.kr) to search for "CSR", "CSV" and "ESG" as search terms, and the Korean abstracts and keyword were scrapped out of the extracted paper and they are organize into EXCEL. For the final step, CSR 2,847 papers, CSV 395 papers, ESG 555 papers derived were analyzed using the Rx64 4.0.2 program and Rstudio using text mining, one of the big data analysis techniques, and Word Cloud for visualization. Results: The results of this study are as follows; CSR, CSV, and ESG studies showed that research slowed down somewhat before 2010, but research increased rapidly until recently in 2019. Research have been found to be heavily researched in the fields of social science, art and physical education, and engineering. As a result of the study, there were many keyword of 'corporate', 'social', and 'responsibility', which were similar in the word cloud analysis. Looking at the frequent keyword and word cloud analysis by field and year, overall keyword were derived similar to all keyword by year. However, some differences appeared in each field. Conclusion: Government support and expert support for CSR, CSV and ESG should be activated, and researches on technology-based strategies are needed. In the future, it is necessary to take various approaches to them. If researches are conducted in consideration of the environment or energy, it is judged that bigger implications can be presented.
This paper analyzes an NHK's 'Performances of Reform and Revival'. As a result of analysis, it was focused on reinforcement of the management such as audit, corporate governance, compliance, and thus the accountability was insufficient. Generally speaking, public service broadcasting is the form of organization of mass media that is most directly accountable to society. Therefore, the efforts is required for public service broadcasting to figure out to endow the social roles and responsibilities to themselves differentiated from other commercial broadcasters. And it is necessary that the concrete systems and activities based on an answerability model so that public broadcasters fulfill the accountability. Answerability means that broadcasting organizations and journalists both take account of and are accountable to the public. In such a process, the positive and voluntary civic participation is indispensable.
This empirical study attempted to investigate the effects of the CEO's transformational leadership on the organizational members' innovative behavior/organizational citizenship behavior, CSR and employees' acceptance of organizational change in the ICT industry. For this study, we conducted an online survey with the employees of businesses that belonged to the ICT industries and received 417 valid responses. The analysis results by SPSS & AMOS are as follows. CEO's transformational leadership had a significantly positive impact on the members' self-efficacy. The members' self-efficacy not only had a positive impact on their own innovative behavior/organizational citizenship behavior, but also had a mediating effects in the relationship between CEO's transformational leadership and the members's innovative behavior/organizational citizenship behavior. Also corporate social responsibility management had a moderating roles in the relationship between CEO's transformational leadership and the members' self-efficacy.
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