• Journal of the Korea Fashion and Costume Design Association
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• v.26 no.1
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• pp.99-109
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• 2024

This study focused on analyzing the difference in the impact of non-financial performance, specifically ESG (Environmental, Social, and Governance) activity grade level, on management performance and corporate value among the 25 fashion companies listed on the Korea Exchange that completed their ESG evaluation in 2022. The companies were categorized into three levels based on their ESG evaluations: ESG Integrated Grade (ESG-T), ESG-E (Environmental), ESG-S (Social), and ESG-G (Governance). The study then empirically analyzed how these levels affected management performance and corporate value. The empirical analysis revealed significant differences in the impact on management performance and corporate value depending on the ESG activity grade level. Companies with higher ESG grades exhibited better management performance and higher corporate values across all ESG sub-variables (ESG-T, ESG-E, ESG-S, ESG-G) compared to those with lower grades. This finding demonstrates the influence of ESG activity grade levels on improving management performance and enhancing corporate value in fashion companies. The results of this research provide meaningful insights into the direction of sustainable management through ESG activities in fashion companies.

• The Journal of the Korea Contents Association
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• v.21 no.12
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• pp.217-237
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• 2021

This study analyzed the effect of consumer psychological mechanism through ESG activities based on the importance of ESG in the market environment. With regards to this, 252 copies of survey data were collected subjecting consumers, and the hypothesis of this study was verified using Smart PLS 3.0 and SPSS 25.0. According to the results of data analysis, the results revealed that (1) Society and governance had a positive effect on psychological distance among ESG factors. (2) Psychological distance had a positive effect on purchase intention. (3) There was a difference in the effect of ESG activities and psychological distance according to the level of product involvement, but there was no difference in the effect of psychological distance on purchase intention. ESG is important from a consumer perspective through this study. And it was also confirmed that consumer perspective was different according to the level of involvement. Although previous research has mainly focused on the investor perspective, this study was analysed on ESG activities and consumer behavioral intentions. Therefore, it is expected to lay the foundation from a marketing perspective on ESG for subsequent researchers.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.41-62
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• 2023

Given that SME workers are the driving force of national competitiveness and the basis and cornerstone of the industry, it is meaningful to study workers' job satisfaction and the factors that affect job satisfaction. In addition to variables related to corporate competitiveness and organizational justice, this study introduced variables such as environmental(E) activities, social(S) activities, and governance(G) activities, which th national government uses as major management evaluation indicators. Therefore, a literature study and empirical analysis were conducted on how self-efficacy affects job satisfaction when workers are faced with a changed work environment. To conduct this study, 300 copies of data were collected from workers in small and medium-sized enterprises and used for analysis. For data analysis, the SPSS statistical program (Ver. 25.0) was used. The study finds, first, that product or service quality and employee competency among corporate competitiveness had a significant positive(+) effect on job satisfaction. Secondly, among ESG management activities, social(S) activities and governance(G) activities were found to have a significant positive(+) effect on job satisfaction. Third, among organizational justice, distribution justice and procedural justice were found to have a positive(+) effect on job satisfaction. Fourth, self-efficacy was found to mediate the effect of product or service quality, employee competency, social(S) and governance(G) activities among ESG management activities, and procedural justice among organizational justice on job satisfaction. The academic value of this study is that it empirically analyzed the factors that ESG management activities affect workers' jobs,. As a result, it was confirmed that workers were satisfied with their jobs by actively showing interest in social(S) activities and governance(G) activities among ESG management activities and participating in corporate management. In addition, workers sensitive to changes in the external environment can become satisfied with their jobs through self-efficacy when SMEs actively enhance corporate competitiveness, execute ESG management activities, and provide a fair organizational culture. Finally, this study suggests that there's a possibility of improving the competitiveness of SMEs through a virtuous cycle created by a change in perception of job conversion and a decrease in turnover.

• Industry Promotion Research
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• v.9 no.2
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• pp.23-28
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• 2024

The study investigated the impact of ESG management activities on the non-financial performance of organizations, focusing on small and medium-sized manufacturing companies. Using data from 78 survey responses, the following results were summarized. Firstly, ESG management activities positively influenced internal customer satisfaction. The correlation coefficient was .679, indicating a moderately strong correlation, and the coefficient of determination (R²) was .461, explaining 46.1% of the variance. Additionally, with a beta value of .679, a t-value of 8.058, and a p-value of .000, ESG management activities had a statistically significant impact on internal customer satisfaction. Secondly, ESG management activities also had a positive impact on corporate trust. The correlation coefficient was .695, indicating a moderately strong correlation, and the coefficient of determination (R²) was .483, explaining 48.3% of the variance. The beta value was .695, the t-value was 8.429, and the significance probability was .000, indicating a significant influence on corporate trust.The study aimed to shed light on the relationship between ESG management activities of small and medium-sized enterprises and their non-financial performance. These results suggest that companies can enhance internal customer satisfaction and corporate trust through fulfilling social responsibilities and practicing sustainable management.

• Smart Media Journal
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• v.11 no.7
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• pp.28-38
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• 2022

The term 'fourth industrial revolution' was mentioned at the World Economic Forum (WEF) in 2016 and has become a term representing a new industrial era based on information and communication technology (ICT). In the environment of the 4th industrial revolution, ESG management activities are becoming a very important factor in business activities. With the emergence of a new paradigm of organizational operation in the post Covid19 era, the demands for ESG (Environment, Social, Governance) investment related to the environment, social responsibility are increasing. This study examines the role that can support ESG management by utilizing the expertise of appraisers. Real estate is one of the fields of high public interest, and since most ESGs have been conducted centered on the role of private companies, the role of the expert group or the role of public corporations and public institutions is relatively insufficient. If a company or general company engaged in the real estate investment business establishes the role of the Korea Appraisers Association to revitalize ESG management using appraisers, such as ESG appraisers, when investing in real estate, it is believed that it will be possible to promote efficient and sound development of the real estate industry. It was judged that a study on a group of experts was also necessary. In addition, even if the impact of Covid-19 is excluded, it is necessary to gradually introduce an appraisal using non-face-to-face or various advanced technologies (the 4th industry). This study differs from previous studies in that it focused on the role of ESG by the Korea Association of Property Appraisers while research on the role of ESG in public institutions or expert groups is being actively conducted in recent years.

• Journal of Venture Innovation
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• v.7 no.1
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• pp.77-90
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• 2024

While discussions on ESG are actively taking place in Europe and other countries, the number of countries pushing for mandatory ESG information disclosure related to non-financial information of listed companies is rapidly increasing. However, as companies respond to mandatory global ESG information disclosure, problems are emerging such as the stringent requirements of global ESG disclosure standards, the complexity of data management, and a lack of understanding and preparation of the ESG system itself. In addition, it requires a reasonable analysis of how business management opportunities and risk factors due to climate change affect the company's financial impact, so it is expected to be quite difficult to analyze the results that meet the disclosure standards. In order to perform tasks such as ESG management activities and information disclosure, data of various types and sources is required and management through an information system is necessary to measure this transparently, collect it without error, and manage it without omission. Therefore, in this study, we designed an ESG data integrated management model to integrate and manage various related indicators and data in order to transparently and efficiently convey the company's ESG activities to various stakeholders through ESG information disclosure. A framework for implementing an information system to handle management was developed. These research results can help companies facing difficulties in ESG disclosure at a practical level to efficiently manage ESG information disclosure. In addition, the presentation of an integrated data management model through analysis of the ESG disclosure work process and the development of an information system to support ESG information disclosure were significant in the academic aspects needed to study ESG in the future.

• Journal of Intelligence and Information Systems
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• v.29 no.3
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• pp.287-316
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• 2023

As global energy crisis and the COVID-19 pandemic have emerged as social issues, there is a growing demand for companies to move away from profit-centric business models and embrace sustainable management that balances environmental, social, and governance (ESG) factors. ESG activities of companies vary across industries, and industry-specific weights are applied in ESG evaluations. Therefore, it is important to develop strategic management approaches that reflect the characteristics of each industry and the importance of each ESG factor. Additionally, with the stance of strengthened focus on ESG disclosures, specific guidelines are needed to identify and report on sustainable management activities of domestic companies. To understand corporate sustainability strategies, analyzing ESG reports and news articles by industry can help identify strategic characteristics in specific industries. However, each company has its own unique strategies and report structures, making it difficult to grasp detailed trends or action items. In our study, we analyzed ESG reports (2019-2021) and news articles (2019-2022) of six companies in the 'Finance,' 'Manufacturing,' and 'IT' sectors to examine the sustainability strategies of leading domestic ESG companies. Text mining techniques such as keyword frequency analysis and topic modeling were applied to identify industry-specific, ESG element-specific management strategies and issues. The analysis revealed that in the 'Finance' sector, customer-centric management strategies and efforts to promote an inclusive culture within and outside the company were prominent. Strategies addressing climate change, such as carbon neutrality and expanding green finance, were also emphasized. In the 'Manufacturing' sector, the focus was on creating sustainable communities through occupational health and safety issues, sustainable supply chain management, low-carbon technology development, and eco-friendly investments to achieve carbon neutrality. In the 'IT' sector, there was a tendency to focus on technological innovation and digital responsibility to enhance social value through technology. Furthermore, the key issues identified in the ESG factors were as follows: under the 'Environmental' element, issues such as greenhouse gas and carbon emission management, industry-specific eco-friendly activities, and green partnerships were identified. Under the 'Social' element, key issues included social contribution activities through stakeholder engagement, supporting the growth and coexistence of members and partner companies, and enhancing customer value through stable service provision. Under the 'Governance' element, key issues were identified as strengthening board independence through the appointment of outside directors, risk management and communication for sustainable growth, and establishing transparent governance structures. The exploration of the relationship between ESG disclosures in reports and ESG issues in news articles revealed that the sustainability strategies disclosed in reports were aligned with the issues related to ESG disclosed in news articles. However, there was a tendency to strengthen ESG activities for prevention and improvement after negative media coverage that could have a negative impact on corporate image. Additionally, environmental issues were mentioned more frequently in news articles compared to ESG reports, with environmental-related keywords being emphasized in the 'Finance' sector in the reports. Thus, ESG reports and news articles shared some similarities in content due to the sharing of information sources. However, the impact of media coverage influenced the emphasis on specific sustainability strategies, and the extent of mentioning environmental issues varied across documents. Based on our study, the following contributions were derived. From a practical perspective, companies need to consider their characteristics and establish sustainability strategies that align with their capabilities and situations. From an academic perspective, unlike previous studies on ESG strategies, we present a subdivided methodology through analysis considering the industry-specific characteristics of companies.

• Korea Journal of Hospital Management
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• v.28 no.2
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• pp.66-78
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• 2023

Purposes: This study explored the difference analysis of financial performance and technological innovation according to the ESG management activities of healthcare companies based on the time before and after the mandatory ESG management reporting of listed Chinese healthcare companies in China. Methodology: This study collected ESG management activities, corporate financial performance, and technological innovation data of Chinese listed healthcare companies by using Bloomberg Database and China-listed company reports to collect data for analyzing differences between groups through T-test. Findings: ESG activities in the healthcare industry have a certain impact on corporate financial performance, but have no impact on corporate technological innovation. Like the world trend, the ESG activities and financial results of China's healthcare industry have shown a positive development direction in recent years, and ESG scores are rising. Practical Implication: Since 2018, ESG activities in China's healthcare industry have flourished, and ESG activities and financial performance have developed in a positive direction.

• The Journal of Society for e-Business Studies
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• v.25 no.4
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• pp.155-168
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• 2020

Although many studies have been conducted on the impact of increasing social awareness of corporate social responsibility activities on financial and non-financial performances, the number of studies conducted by financial companies is relatively small compared to those conducted by non-financial companies such as manufacturing and service industries. Accordingly, this study explores the impact of corporate social responsibility activities on the Earnings Persistence of financial companies through a regression analysis that utilizes the conversion score of an ESG rating of a Korean listed company provided by the Korea Corporate Governance Service (KCGS) as a variable for the company's social responsibility activities. Through this analysis, the study found that, among the ESG scores that are variables of social responsibility activities, the ESG governance score was significant in the direction of (+) for the Earnings Persistence. In addition, the same study conducted by classifying the entire sample into six sub-industries shows that the ESG governance score in the banking industry was more significant compared to when the regression analysis was conducted on the entirety of the samples. Therefore, this study concludes that the soundness and reliability of corporate governance have a positive effect on Corporate Earnings Persistence.

• Journal of Service Research and Studies
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• v.14 no.2
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• pp.117-137
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• 2024

ESG has become a necessity for all companies, and major Korean banks are actively practicing ESG management. Banks are playing a role in providing ESG finance as intermediaries in the supply of funds. Recently, they have launched ESG digital banking products that offer preferential interest rates for eco-friendly activities in combination with digital technologies. However, indiscriminate provision of preferential interest rates can adversely affect profitability of banks, and they may face the problem of 'Greenwashing' if they do not contribute to improving environmental awareness. Therefore, this study selected ESG digital savings products linked to electricity savings as the subject of the study, and empirically analyzed consumers' environmental awareness and savings behavior through actual data of consumers (N=2,478). The main findings of this study are as follows First, the analysis of the consumer status of ESG digital banking products shows that the 30-50s are the main consumer base, and the MZ generation shows relatively high performance in achieving preferential interest rates through electricity saving practices. Second, consumers' environmental awareness has a significant impact on achieving the goals of ESG banking products. ESG banking products can contribute to environmental awareness while fulfilling the basic function of saving. Third, environmental awareness did not drive consumers' savings contribution behavior, suggesting the need for continued consumer engagement. Based on environmental awareness and the theory of saving behavior, this study provides a theoretical explanation in ESG financial products. The results suggest that the appropriateness of the preferential interest rate design of ESG financial products is important.