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Do CSR Activities Improve Short-Term Financial Performance? Competitive Mediating Effects of Job Satisfaction

  • JungWon Lee ;Cheol Park
    • Asia Marketing Journal
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    • 제25권2호
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    • pp.71-83
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    • 2023
  • Companies are increasingly performing corporate social responsibility (CSR) as part of their strategic plans, but the effect of CSR activities on short-term financial performance is disputed. Researchers have found ambiguous relationships through mediating factors, but few studies have investigated internal stakeholders in this context and the firm characteristics that moderate these relationships. This study uses a competitive mediating model that examines job satisfaction as a mediator in the relationship between CSR and short-term financial performance for Korean companies. For the analysis, data from 195 companies covering 2014 to 2017 were collected and analyzed via panel regression. The findings indicate that CSR activities had a negative effect on short-term financial performance but a positive effect on job satisfaction; however, the larger the firm, the smaller the positive effect of CSR activities. Moreover, job satisfaction positively affects short-term financial performance, and this relationship is stronger in service firms.

디저트 카페의 상품 선택 속성이 만족과 장기 지향성에 미치는 영향 (The Effect of Selection Attributes for Goods of Dessert Cafe on Product Satisfaction and Long-term Orientation)

  • 전경철
    • 한국조리학회지
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    • 제23권5호
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    • pp.140-150
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    • 2017
  • The purpose of the study was to provide useful implications for management of dessert cafe by discovering selection attributes for product satisfaction and long-term orientation. Using SPSS 22.0 and AMOS 220 Version, the collected data from customers of dessert cafe in Seoul and metropolitan areas were analyzed for frequency analysis, exploratory factor analysis, confirmatory factor analysis, reliability analysis, and covariance structure analysis. As results of hypothesis verification, firstly, service standard and product diversity had a significant effect on product satisfaction of dessert cafe. Secondly, tastes and nutrients influenced positively long-term orientation of dessert cafe. Meanwhile, service standard, mood, and product diversity did not have a significant effect on long-term orientation. Thirdly, product satisfaction affected positively long-term orientation. The results of the study provided useful implications for management of dessert cafe.

미슐랭 가이드 스타 레스토랑에 대한 기대가치가 방문의도에 미치는 영향 (The Impact of Expected Value of Michelin Guide Star Restaurants on Visit Intention)

  • 최성룡;윤성현
    • 한국프랜차이즈경영연구
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    • 제15권2호
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    • pp.77-87
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    • 2024
  • Purpose: South Korea is one of the markets where diverse and innovative cuisines are being tried. Therefore, the expectations for Michelin star restaurants in South Korea are high. The expected value of a Michelin star restaurant consists of both hedonic and utilitarian aspects of the dining experience. These consumer expectations affect visit intention. Research design, data, and methodology: The survey period was from October 10, 2023 to October 18, 2023, and 302 copies were used for hypothesis verification. Result: Hedonic expected value was found to have a significant positive influence on short-term and long-term visit intention, but had no significant effect on mid-term visit intention. Utilitarian expected value was found to have a significant positive influence on short-term and mid-term visit intention, but did not appear to have a significant effect on long-term visit intentions. Short-term visit intention was found to have a significant positive influence on mid-term visit intention, and mid-term visit intention was found to have a significant positive influence on long-term visit intention. Conclusions: The theoretical implications are restaurants need to utilize third-party certification, such as the Michelin Guide. The practical implication is that Michelin star restaurants should provide expected value to increase short-term visit intention.

Effect of Short-term and Long-term Preservation on Motion Characteristics of Garole Ram Spermatozoa: A Prolific Microsheep Breed of India

  • Joshi, Anil;Bag, Sadhan;Naqvi, S.M.K.;Sharma, R.C.;Rawat, P.S.;Mittal, J.P.
    • Asian-Australasian Journal of Animal Sciences
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    • 제14권11호
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    • pp.1527-1533
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    • 2001
  • Garole is a prolific, rare, less known and small size Indian sheep breed found in low and humid Sunderban region of West Bengal. Although information on stored Garole ram liquid semen upto 24 h is available, but there is a need to further investigate the short-term and long-term preservability of Garole ram semen for extensive utilization of this valuable germplasm by artificial insemination. The aim of the present study was to apply computer-assisted sperm analysis technique for assessing the motion characteristics of Garole ram semen stored (i) in liquid state at refrigeration temperature for short-term preservation upto 48 h and (ii) in frozen state at $-196^{\circ}C$ for long-term preservation after packaging in mini straws. Short-term preservation had a significant effect on motility (p<0.01) as the motility progressively decreased from 90.1% at 0 h to 85.5% and 73.2% after 24 and 48 h of storage, respectively. Although the decline in rapid moving sperms was also significant (p<0.01) on storage but the decrease was more pronounced at 48 h as compared to 24 h of storage period. Storage of chilled semen had also a significant effect on % linearity (p<0.05), % straightness (p<0.01), sperm velocities (p<0.01), amplitude of lateral head displacement (p<0.01) and beat frequency (pO.Ol) of spermatozoa. The replication had a significant effect for all the variables except average path and straight line velocity. However, the interactions of short-term storage and replication were non-significant for most of the variables except % of medium moving sperms, sperm velocities and beat frequency. On long-term preservation of Garole ram spermatozoa under controlled conditions the mean post-thaw recovery of 70.4 and 71.4% motile spermatozoa was achieved having 48.8 and 48.9% of rapidly motile spermatozoa, respectively in both the replicates. The effect of replication on cryopreservation was significant (p<0.05) on amplitude of lateral head displacement and beat frequency, but there was no significant effect on motility, rapidly motile spermatozoa, linearity, straightness and sperm velocities of frozen-thawed spermatozoa. It can be concluded from these results that an average 70% motility can be achieved on storage of Garole ram semen in chilled liquid state upto 48 h or in liquid nitrogen after freezing under controlled conditions in straws. However, further studies are required to evaluate the fertility of short-term and long-term preserved Garole ram semen for extensive use of this prolific sheep breed.

관계혜택과 커뮤니케이션이 관계의 질과 장기지향성에 미치는 영향 - 미용서비스 점포를 중심으로 - (The effects of relationship benefits and communication on relationship quality and long-term orientation - Focused on beauty service stores -)

  • 김성은;정명선
    • 복식문화연구
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    • 제23권3호
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    • pp.484-497
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    • 2015
  • The purpose of this study was to examine the effect that relation-building factors between beauty service stores and customers have on relationship quality and long-term orientation. Specifically, the influence of relation formation factors (relationship benefits and communication) on relationship quality (satisfaction and trust) and long-term orientation was empirically examined. This research was conducted through a questionnaire survey, and 402 adults were targeted from Jan. 6 to Jan. 16 in 2014. The results were as follows. First, the relationship benefits of beauty service stores were classified into four dimensions of psychological, social, economic, and informational benefits. It was found that only the dimension of psychological benefits had a significant influence on long-term orientation among the relationship benefits dimensions. Second, it was found that the psychological benefits of beauty service stores had positive effect on relationship quality (satisfaction and trust). It was shown that informational benefits had a significant influence on satisfaction only. Third, it appeared that communication had a positive effect on long-term orientation. Fourth, it was found that communication had a significant influence on relationship quality(satisfaction and trust). Finally, it was shown that relationship quality (satisfaction and trust) had positive effect on long-term orientation. The implications of the research and direction for future study were discussed.

B2B 거래에서 브랜드가치, 관계가치, 시장지향성 그리고 성과에 관한 연구 (The Relation among Brand Value, Relationship Value, Market Orientation and Performance in B2B)

  • 박승환;한상설
    • 산경연구논집
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    • 제9권9호
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    • pp.53-62
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    • 2018
  • Purpose - The focus of this study is to investigate the structural influences such as brand value, relationship value, market orientation, long-term orientation, and performance. The effects of brand value and relationship value on the differences on transaction performance in b2b was investigated. Research design, data, and methodology - The subject of this study was a liquor and beverage distribution company that deals in b2b. The research hypothesis is based on literature of the preceding research analysis of brand value, relationship value, market orientation and long-term orientation. This study has constructs that was defined operationally by referencing previous studies. Operational questionnaire was used to investigate the target key staff who work in the liquor and beverage distribution company. 178 survey data were used for empirical analysis to prove the hypothesis. This study used structural equation techniques(AMOS) to prove the research hypothesis. Results - The main results of this empirical study were as follows. First, supplier's brand awareness has a positive effect on market orientation, but did not affect long-term orientation. Brand awareness of suppliers indicates that they are not directly related to long-term orientation. Second, supplier's brand image has a positive effect on market orientation and long-term orientation in b2b transaction. So, the brand image and reputation of the supplier suggest that it is important for the b2b transaction to have a market orientation tendency or a long-term orientation. Third, supplier's relationship value has a positive effect on long-term orientation, but does not affect market orientation. Relationship value indicates that they are not directly related to market orientations of the buyer. Fourth, Market orientation has a positive effect on long-term orientation and marketing performance and long-term orientation has a positive effect on marketing performance in b2b. Additionally, the buyers market and long term orientation are important factors in marketing performance in b2b. ' Conclusions - Based on empirical results, this study confirmed that brand image rather than brand awareness positively influenced long-term orientation as well as market orientation in b2b. Relationship value can be found in transactions, which is important for long-term orientation. Especially, these findings are suggestive in the consumer goods distribution market.

Sharing Economy: Effect of Shared Kitchen Service Quality on Experiential Value, Relational Commitment and Long-Term Orientation

  • LEE, Sung-Hoon;HAN, Young-Wee
    • 유통과학연구
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    • 제20권10호
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    • pp.79-91
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    • 2022
  • Purpose: As the shared kitchen sector evolves into a new trend in the restaurant industry, not only operational support but also the physical environment for services is ranked as an important success factors. Therefore, the purpose of this thesis is to study the effect of shared kitchen service quality on experiential value, relational commitment, and long-term orientation. Research design, data, and methodology: In this study, a questionnaire was used to verify the structural relationship between shared kitchen service quality, experiential value, relational commitment, and long-term orientation for tenant companies in shared kitchen companies. The data were analyzed by using Partial Least Square-Structural Equation Modeling (PLS-SEM). Result: Facilities and support for the service quality of the shared kitchen had a positive (+) effect on the experiential value, and the environment did not. In addition, experiential value showed a significant positive (+) effect on relationship commitment and long-term orientation, and relationship commitment showed a significant positive (+) effect on long-term orientation. Conclusions: It was confirmed that the support quality among service quality affects the relationship formation. Thus, attention should be paid to activities to support stable business activities from the perspective of B2B services.

e-marketplace 이용기업의 신뢰가 몰입, 장기거래지향성, 협력에 미치는 영향 (Perceived Trust of e-Marketplace and Its Effect on Commitment, Long-Term Orientation and Cooperation)

  • 박준철
    • 한국정보시스템학회지:정보시스템연구
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    • 제16권2호
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    • pp.123-144
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    • 2007
  • As the interest in the business-to-business electronic commerce is increasing, many companies are participating in the business-to-business e-marketplaces. As a result, it is important to develop understanding of behaviors of firms that use these e-marketplaces. For this purpose, e-marketplace usage company trust is proposed to affect commitment, long-term orientation and cooperation. This study, which used data from participating in the business-to-business e-marketplace companies, showed acceptable data-fit of proposed model and supported all of research hypotheses. The empirical results indicated that trust take significant effect on commitment, long-term orientation and cooperation, and the commitment affect long-term orientation and cooperation, and the commitment in turn have strong influence on long-term orientation and cooperation. It was confirmed that commitment variable is effective mediator linking trust and long-term orientation and cooperation.

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Capital Structure and Default Risk: Evidence from Korean Stock Market

  • GUL, Sehrish;CHO, Hyun-Rae
    • The Journal of Asian Finance, Economics and Business
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    • 제6권2호
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    • pp.15-24
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    • 2019
  • This study analyzes the effect of the capital structure of Korean manufacturing firms on default risk based on Moody's KMV option pricing model where the probability of default is obtained by measuring the distance to default as a covariant in logit model developed by Merton (1974). Based on the panel data of manufacturing firms, this study achieves its primary objective, using a fixed effect regression model and examines the effect of a firm's capital structure on default risk amongst publicly listed firms on Korea exchange during 2005-2016. Empirical results obtained suggest that the rise in short-term debt to assets leads to increase the risk of default whereas the increase in long-term debt to assets leads to decrease the default risk. The benefits of short-term debt financing over a short-term period fade out in the presence of information asymmetry. However, long-term debt financing overcomes the information asymmetry and enjoys the paybacks of tax advantage associated with long-term debt. Additionally, size, tangibility and interest coverage ratio are also the important determinants of default risk. Findings support the trade-off theory of capital structure and recommend the optimal use of long-term debt in a firm's capital structure.

소아비만 치료의 임상영양 교육 효과 (Nutrition Education Effect in Obesity Treatment for Children)

  • 김영숙;이순영;김영옥
    • 한국식품영양과학회지
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    • 제31권6호
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    • pp.1011-1017
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    • 2002
  • 본 연구는 소아 비만아들에 대한 임상영양교육 프로그램의 효과를 비만도, 혈액학적 변화, 생활습관의 변화 등을 통해 관찰하였다. 관찰기간이 서로 다른77명의 비만아를 대상으로4년간의 관찰 내용이 분석되었다. 특히 교육효과를 장기와 단기로 나누어 병원 내원 기간중의 단기적 체중, 혈청학적 변화뿐만 아니라 장기적인 식생활 습관의 변화 등으로 나누어 장단기 변화를 구분하여 관찰하였고 이들 장단기 변화에 영 향을 미치는 요인을 규명하고자 하였다. 연구결과 단기적(내원기간동안) 효과면에서 볼 때 BMI, % RBW에 의한 비만도 및 혈액지 질양상 등에서 수치가 낮아짐으로써 통계적으로 유의한 효과가 있었다. 이 중 혈청콜레스테롤의 농도는 평균 180.6 mg/dL에서 165.3 mg/dL으로 감소하여 통계적으로 유의한 차이를 보였고(P<0.05), 28.6%가 정상군으로 돌아왔다 장기 효과를 볼 때, BMI가 23.8$\pm$2.9로 최초 내원시 25.4$\pm$2.7보다 낮아졌으나 통계적으로 유의하지 않았으며, % RBW에 의한 비만도는 137.7$\pm$14.1에서 125.1$\pm$13.0으로 통계적으로 유의하게 감소하였다(p<0.05). 그러나 생활습관을 통해 관찰한 장기 효과는 1차 조사시 57.9점에서 2차 조사시 67.2점으로 통계적으로 유의하게 증가하여 (p<0.01), 임상영양교육후 생활습관이 장기적으로 개선되었음을 알 수 있었다 이는 교육의 효과라 할 수 있고 또한 고도 비만아의 경우 비만율이 현저히 떨어 져,42.9%가 정상군으로 돌아왔다. 단기 효과에 영향을 주는 요인으로는 단기내에 방문기간이 길수록, 방문횟수가 많을수록 교육 후 비만도가 감소하는 경향을 보인(p<0.001) 반면 월평균 교육참여 빈도는 비만치료효과에 긍정적 영향을 주지 않는 것으로 나타났다. 따라서 잦은 참여보다는 지속적이고 장기적인 참여와 관리가 더 효과적이라고 사료된다(p<0.05). 장기 효과와 관련된 관찰로는 방문기간이 길고, 횟수가 많을수록 긍정적 효과를 띠는 경향을 보여주었으나 통계적으로 유의한 수준은 아니었다. 이상의 결과를 요약해보면 임상영양교육프로그램은 적어도 BMI나 %RBW라는 관점에서 장단기 효과가 있었다. 그러나 장기 효과와 단기 효과에 영향을 미치는 요인에는 다소간의 차이가 있었다. 방문기간, 방문횟수 등은 단기 효과에 영향을 주는 요인이나 월평균 참여빈도 등은 별다른 영향을 주지 않는 것으로 나타났다. 반면 장기 효과에 통계적으로 유의한 수준에서 영향을 주는 요인은 규명할 수 없었다. 이는 장기 효과에 영 향을 주는 요인은 단기 효과에서 나타난 총 방문 기간이나 방문횟수 이외의 사회심리적 요인이 복잡하게 작용했을 가능성을 본 연구 결과는 시사하고 있다.