• Journal of Korea Society of Digital Industry and Information Management
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• v.19 no.1
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• pp.77-89
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• 2023

The purpose of this study is to empirically confirm what is an important variable of organizational change by intelligent technology acceptance and whether is a difference in important variables in the organization level of acceptance of intelligent technology. Recently, business models using intelligent technologies such as chat-bots, self-driving cars, credit-prevention fraud, face recognition, and health-care are emerging. External situation factors such as artificial intelligence, big data, COVID-19, and the ESG management are changing the direction of a company's management strategy. This research method established a structural equation model. As a result of the analysis, we found that the leadership, organizational culture, and organizational cooperation variables had a positive effect on human resource development variables. Human resource development found a positive effect on the performance of intelligent technology. In addition, we found the independent variables of leadership, organizational culture, and organizational cooperation had partial mediating effects on the performance of intelligent technology. Each group of levels of intelligent technology found performance differences. The organizational culture variables appeared as important variables in all groups. On the other hand, the leadership variable appeared as an important variable in the middle and lower groups of intelligent technology. The theoretical background of this study is that the business theory was updated through artificial intelligence and intelligent technology theory. As a practical implication, the organization adopting intelligent technology is necessary to prepare a systematic plan for organizational culture change.

• The Journal of Industrial Distribution & Business
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• v.14 no.4
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• pp.23-31
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• 2023

Purpose: Gas firms often fall victim to disregarding the importance of sensitivity, thus leading to many unprecedented repercussions. To ensure that gas firms fully contribute to sustainability and ethical standards, environmental Social Governance (ESG) has been identified as the ideal framework. This study aims to investigate the impact of ESG management for improving gas firm performance. Research design, data and methodology: The prior qualitative literature analysis was to figure out adequate past research for the topic based on the major portal web databased, such as 'Google Scholar' and 'Scopus' to make sure resources' credibility. Results: Gas firms are among the pertinent organizations vis-à-vis environmental destruction issues. Gas firms emit dangerous gases such as ethane, carbon dioxide and methane that are dangerous for the people and the environment. Thus, many pro-environmental conservation stakeholders have had rallying calls for such gas firms to mitigate environmental pollution intentionally. Conclusions: This study may be used to human resources in improving employee results elsewhere. Besides, it can be of the essence in improving the relationship between such firms and society. Therefore, the study findings are of greater significance and implications to multiple parties, users and stakeholders regarding the research topic and beyond the current scope of the study.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5586-5593
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• 2013

This study investigates how the Corporate Social Responsibility (CSR) performance of a firm is associated with its financial performance in the stock market. Prior studies provide mixed evidence on the relation between CSR and financial performance. This study sheds some lights on the positive effect of CSR on firms' financial performance. Using a unique set of data on CSR performance of Korean firms provided by Morgan Stanley Capital International (MCSI), we find that firms' CSR performance is positively associated with their contemporaneous stock returns and Tobin's Q in the Korean market. This finding suggests that stock market participants value firms' CSR activities. This is the first study that provides empirical evidence on the existence of the positive association between the CSR performance of Korean firms and their financial performance using MCSI data which is considered more reliable than the data used in the prior CSR studies in Korea.

• Smart Media Journal
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• v.11 no.10
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• pp.36-45
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• 2022

This study was promoted to prepare an ESG-oriented work system for Korea Expressway Corporation through sustainable highway construction, IOT-based smart highway preparation, and establishment of a broad convergence business governance system between multiple ministries and implementing entities. Based on the 2nd Basic Plan for Landscape Policy (2020~2024) and the Public Design Promotion Act (2018~2022), the study was conducted through the improvement of the highway design method to be applied for four years from 2021 to 2024, the changes in construction and social conditions related to expressways, the analysis of policies and plans to secure consistency with the 'Korean New Deal', and the analysis of the project performance and work promotion system that the Korea Expressway Corporation's business execution organization has promoted together with each government department. The results of this research are expected to help the Korea Expressway Corporation establish the 21st Innovation Plan for the phased construction of a "100-years landscape with people" and the preparation of a sustainable future highway environment creation project for the lives and safety of the people.

• 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 Ginseng Culture
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• v.3
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• pp.90-118
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• 2021

Gaeseong fostered the conditions necessary for modern capitalism, as huge capital was accumulated through the cultivation and trade of ginseng, which were activities that flourished in the 18th century. During the Japanese colonial era, ginseng merchants were not simply limited to acquiring landowner capital from ginseng trade but actively converted such resource to productive and financial capital, thereby becoming modern entrepreneurs. Ginseng merchants led the joint management and investment of Gaeseong Electric Co., Ltd., Daehan Cheonil Bank, Gaeseong Brewing Co., Ltd., and Songgo Textile Company, founded in the early 20th century. They pursued corporate profits and, as leading individuals of society, spearheaded regional development by supporting educational and cultural projects in Gaeseong. These projects included the establishment of the Gaeseong Commercial School, the publication of Goryeo Times, and the operation of the Gaeseong Jwa Theater. Although liberal economics prioritized shareholder interest, the 21st century witnessed an emphasis on social responsibility among stakeholders asthe major purpose of enterprises. A trend that emerged was ESG (environment, social, governance) management, in which non-financial factors are valued more highly than financial performance. A successful business, which was denoted only by high profits in the past, is now defined by whether a company fulfills its social responsibility. In the early 20th century, the corporate activities of ginseng merchants in Gaeseong reflected entrepreneurship and stakeholder-centered ESG management, which later emerged as essential elements of modern business management. The modern management philosophy ahead of its times stemmed from the regionality of Gaeseong. The political discrimination against Gaeseong residents in the Joseon Dynasty precluded them from becoming government officers, and under a strict social hierarchy, yangban ("noblemen"), the intellectuals of the Joseon Dynasty, were forced to serve as merchants. Son Bong-sang and Kong Seong-hak, aside from being representative ginseng merchants, were both Confucian scholars and writers. The second and third generations of ginseng merchant families who had received higher education abroad returned to Gaeseong to carry on with their family businesses, then established modern companies with capital accrued from the ginseng industry. An analysis of the commercial activities of ginseng merchants in the early 20th century confirmed that these individuals were pioneering entrepreneurs who adopted the ESG management philosophy. In ginseng merchants, one sees a dimension of capitalism with a human face, as with ginseng thatsaves human life.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.195-208
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• 2021

Purpose - The primary objective of this paper is to empirically examine whether the engagement of socially responsible activities in corporations affect the tendency of tax-avoidance by using the sample of Korean companies. We are particularly interested in Chaebol-affiliated firms, which are a special type of Korean conglomerates. Design/methodology/approach - This study is based on a sample of 5,496 firm-year observation data from 2011 to 2017 by using the ESG ratings from the Korea Corporate Governance Service(KCGS), a ESG rating agency in Korea. For our analysis, the firms were separated into 1,547 Chaebol-affiliated firms and other 3,949 firms. All financial and firm data were extracted from Fn-guide, which provides financial information for Korean listed firms. Findings - We find that CSR is generally positively related to the effective tax rate, which indicates a lower level of tax avoidance for more socially responsible firms. In particular, a positive relationship of social score with GAAP ETR was observed. Research implications or Originality - We find that the positive relationship is robust to the group of chaebol and non-chaebol affiliates unlike extant literature.

• Journal of Distribution Science
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• v.16 no.5
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• pp.31-43
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• 2018

Purpose - We examine how a Korean retail firm's social responsibility is related to its financial performances. The traditional view of corporation expects a negative relationship, while the stakeholder theory expects a positive one. Research design, data, and methodology - We adopt the ESG score, published by Korean Corporate Governance Service to measure the level of socially responsible activity for the Korean retail firms. The ordinary least square method is adopted to investigate this relationship. The publicly traded retail firms are examined from 2011 to 2016. Results - We find that the total ESG score is negatively related to ROE but shows no statistically significant relationship with ROA and Tobin's Q value. However, a firm's environmental score is negatively related with both of ROE and ROA. Its social score is no conclusive relationship with the performance measures. The governance score is negatively related to the value of Tobin's Q. Conclusions - This paper generally supports the traditional view of corporate theory, especially in terms of ROE. This evidence is not well aligned with the existing study for Korean corporations generally documenting positive relationships. We find almost no empirical evidence supporting the stakeholder theory of corporation in the Korean retail industry.

• Korean Management Science Review
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• v.32 no.1
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• pp.113-131
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• 2015

We examine the relationship between firms' environmental (E), social (S), and governance (G) factors, with their financial performance in order to provide an empirical rationale for CSV (creating shared value) pursuing both of firms' profitability and CSR (corporate social responsibility). The financial performance is classified into four aspects such as profitability, stability, efficiency, and cash-flow, and each of these aspects is measured by two financial ratios respectively. To measure the firms' ESG performance, we employ the published performance grades by the Korea Corporate Governance Service for a three year span, from 2011 to 2013. Total of eight regression analyses are performed. The results show that firms' non-financial performance in general has statistically significant positive relationships with return on assets, return on net sales, and cash-flow from operating activities ratio, while it has negative relationships with net working capital ratio, asset turnover ratio, and cash-flow from investing activities ratio. It has no significant relationships with debt ratio and equity turnover ratio. The results imply that firms' non-financial performance may have a negative impact on some financial performance such as liquidity and efficiency in a short term, but it would eventually improve the firms' profitability and cash-generating ability, which provides an empirical evidence for the concept of CSV, and motivates the firms to participate in social contribution activities without sacrificing their profitability for their respective sustainablity management.

• International Journal of Advanced Culture Technology
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• v.11 no.1
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• pp.171-180
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• 2023

This study is to develop a performance analysis model for SMEs.Based on similar performance indicators through previous studies, performance indicators for SMEs were rewritten.Through the Korean Journal Citation Index (KCI), 75 related data were classified and a comprehensive SME performance analysis model was developed.Performance analysis was divided into two axes and classified into tables.The horizontal axis is the spatial performance range, which is divided into three areas: performance management by department/function, integrated performance management for the entire organization, and governance performance management requiring policy feedback. The vertical axis is subdivided into short-term, mid-term, and long-term by time and growth stage, and is divided into three parts: technical performance according to technological input, economic performance as organizational performance, and social performance for policy utilization. Then, performance indicators were mapped to each column. As a result of the survey, 28% of technical performance was analyzed as a result of frequency analysis, and performance indicators were organized into five categories: IT, R&D, certification, patent, and innovation. Economic performance was divided into 29%, BSC, HRD, logistics, production quality management, financial support, asset management, etc. 6 categories, social performance 43%, ESG, marketing, export, policy support, consulting, cooperation, etc. 7 categories.Limitations of the study include the narrowness of the survey that derived only performance indicators despite being a meta-analysis, and the performance model was mapped and classified according to growth stage and support period.however Insufficiency of validity due to lack of evidence, performance indicators were developed, but there were limitations in utilization for practical use.