• 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 Semiconductor & Display Technology
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• v.21 no.3
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• pp.92-97
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• 2022

Plastics are classified into 7 types such as PET (PETE), HDPE, PVC, LDPE, PP, PS, and Other for separation and recycling. Recently, large corporations advocating ESG management are replacing them with bioplastics. Incineration and landfill of disposal of plastic waste are responsible for air pollution and destruction of the ecosystem. Because it is not easy to accurately classify plastic materials with the naked eye, automated system-based screening studies using various sensor technologies and AI-based software technologies have been conducted. In this paper, NIR scanning devices considering the NIR wavelength characteristics that appear differently for each plastic material and a system that can identify the type of plastic by learning the NIR spectrum data collected through it. The accuracy of plastic material identification was evaluated through a decision tree-based SVM model for multiclass classification on NIR spectral datasets for 8 types of plastic samples including biodegradable plastic.

• The Korean Journal of Franchise Management
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• v.14 no.3
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• pp.1-16
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• 2023

Purpose: In the post-COVID-19, many consumers still feel uncomfortable with crowding in closed spaces. This study investigates how non-crowding affects consumer satisfaction and restaurant visit intention. Research design, data, and methodology: The data were collected from 350 people aged 20 and above. A total of 347 respondents, excluding 3 unfaithful respondents, were analyzed using Smart PLS 4.0 program. Result: Both spatial and human crowding have significant effects on satisfaction. On the other hand, neither spatial nor human crowding directly affected dine-out intention significantly. In addition, spatial crowding was found to have a direct and significant effect on in-store dining intention, but human crowding did not have a direct and significant effect on in-store dining intention. It was found that satisfaction had a significant effect on both dine-out intention and in-store dining intension. Conclusions: This study has expanded the range of consumer behavioral intentions by applying a non-crowded environment (S) to the SOR theory. Also, Consumer behavioral intention was expanded by dividing visit intention into a dine-out and in-store dining intention. Therefore, we propose measures to minimize human crowding by introducing a system such as adjustment of store operating hours, reservation system, store opening time alarm system, and reduction of cooking time.

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.420-430
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• 2013

In this study, we investigate the current status of family friendly management and determinants of its level. We choose measures about family friendly management and use their results from ESG evaluation model by Korea Corporate Governance Service. We find that firms with larger size, lower leverage and higher firm value are more family friendly. And in contrast to previous studies, firms are more family friendly when they have less women to total employees. But firms with higher largest shareholder holdings are less family friendly. These results show that listed firms in Korea should be more family friendly considering their level of woman employment. Also the interest and support from top management are needed for activating family friendly management, but largest shareholder of korean firms are not active yet.

• Journal of Digital Convergence
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• v.20 no.1
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• pp.119-127
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• 2022

In order to analyze the effect of strengthening the disclosure of remuneration for high-paid workers among the measures to improve the governance structure of financial companies by the Financial Services Commission in 2018, this study demonstrated the compensation system, management performance, and improvement of governance for Korean financial companies from 2015 to 2020. Analysis was performed. As a result of the empirical analysis, it was found that financial companies after 2018 decreased the employee compensation disparity and the majority shareholding ratio, while the stock performance and foreign ownership ratio increased. This study has the greatest contribution in that it is the first domestic study to verify the effect of applying the so-called Say on Pay, which discloses management's remuneration and allows shareholders to check its appropriateness through voting.

• 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.

• 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.

• Journal of the Korean Society of Industry Convergence
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• v.25 no.2_2
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• pp.199-208
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• 2022

The steel wire or steel bar processing process applied to the manufacture of various bolts and power transmission shafts was improved by applying in-line phosphate film treatment technology. By applying a polymer lubricant for a non-reactive metal forming process and a non-reactive non-phosphorus lubricating coating agent, the film formation for each process time was comparatively analyzed and reviewed. Compared to the nine processes applied previously, the in-line phosphate film treatment technology applied with only two processes has been effectively improved in terms of reduction of treatment time, reduction of facility installation area, prevention of water pollution due to wastewater, and non-use of ozone-depleting substances. In addition, it was found that it can have an important effect on productivity improvement and price competitiveness from the simplification of quality control and process control as well as improvement of the working environment.

• Maritime Security
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• v.3 no.1
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• pp.187-210
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• 2021

In recent years, many countries are committing to environmental conservation. Following this trend, successful policy implementation of SDGs with ESG management extended to the public sector is emerging as a keyword determining the success or failure of the capital market, countries, and individual companies. Accordingly, many countries are implementing various policies related to the environment. One of them is to implement national policies by introducing environmental taxes. These policies use environmental taxes to control pollution by indirectly influencing the behavior of producers or consumers through economic incentives rather than directly interfering with environmental pollution behavior. This study examines the status of environmental taxes in marine tourism sites in Korea, reviews the effectiveness of such policies, and suggests how to improve them by identifying limitations of the current system.

• Journal of Distribution Science
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• v.22 no.5
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• pp.93-104
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• 2024

Purpose: This study used the SORmodel (or cue utilization theory) to examine the impact of expanded quality factorsincluding product quality on customer satisfaction, attitude, and behavioral loyalty. This study examined the moderating effect of gender on the customer satisfaction-attitudinal and behavioral loyalty relationship. Research design, data, and methodology: 364 respondents were collected through an online survey and analyzed using the SmartPLS 4.0 program. Results: The findings show that product quality, along with system quality and service quality, are key determinants of customer satisfaction. In addition, this study shows that the relationship between customer satisfaction and attitudinal loyalty (repurchase and word-of-mouth intention) does not differ depending on gender, but the relationship between customer satisfaction and behavioral loyalty (share-of-visit and share-of-wallet) is stronger for women than for men. Conclusions: This research integrates concepts from environmental psychology and marketing focusing on website quality (information, system, service, and product), as well as satisfaction, attitudinal and behavioral loyalty. Online shopping mall practitioners must systematically analyze and assess the quality of online shopping, a pivotal factor driving customer satisfaction, attitude, and behavioral loyalty. Acknowledging the influence of gender on consumers' online purchasing behavior can aid online retailers in devising tailored e-commerce marketing strategies aimed at attracting and retaining customers.