• 유통과학연구
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• 제17권7호
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• pp.55-63
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• 2019

Purpose - This paper examines the value relevance of socially responsible activities in the Korean retail firms. Recent studies predict positive relationships between socially responsible activities and the value of corporation. Research design, data, and methodology - We use the environmental score, social score, governance score and the sum of these three scores to represent a fim's effectiveness of socially responsible activities. These scores are published by the Korean Corporate Governance Service. This paper adopts a share price valuation model to evaluate the effect of socially responsible activities on a firm's share price, which controls for the book value of assets and current earnings. The ordinary least square method is employed to examine the relationship. The sample of Korea retail firms is examined from 2011 to 2016. We also conduct sub-sample analysis based on the categorization of chaebol affiliates and non-chaebol affiliates. Results - The entire sample analysis finds neither negatively nor positively significant relationship between socially responsible activities and the value of a corporation. In contrast, our examinations find a significantly positive valuation effect of social score within non-chaebol retail firms. Conclusions - The results weakly support the positive valuation effect of socially responsible activities. The results are consistent with recent studies that highlight heterogeneous effects of socially responsible activities on corporate policies and valuation.

• 유통과학연구
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• 제17권9호
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• pp.103-115
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• 2019

Purpose - We attempted to verify the level of ethics of firms achieving sustainable management from the aspect of reliability of accounting information. Specifically, we evaluated the effects of sustainable management on accruals-based earning management (AEM) and real earning management (REM). Research design, data, and methodology - We employed the issuance of sustainability reports in addition to the indices of social responsibility and environmental-management evaluation of the Korea Corporate Governance Service in order to measure sustainability management. AEM was measured using discretionary accruals and calculated using the operant Jones model. Specifically, REM was measured using the methodology suggested by prior studies. The sample of our study consisted of 1,418 years of public listed firms in the Korea Stock Exchange from 2015 to 2017. Results - First, the level of AEM in firms achieving sustainable management was lower than the other. Second, the level of REM in these firms was lower than the other. Nonetheless, another analysis showed that the level of governance control affects the level of earning management and that the levels of AEM and REM were generally lower in firms achieving sustainable management than the others. Conclusions - We expected that firms achieving external ethics tend to have a higher level of internal ethics than others.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.577-586
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• 2020

The paper seeks to explore the role of green finance in achieving sustainable development goals through the case of China, and address some issues of sustainable finance and environmental, social and governance concerns of green finance by introducing the episodes of green finance in China. This paper aims to provide some viewpoints about the following questions: 1) What are the latest trends in green finance? 2) What are the main challenges to the development of green finance? 3) What are policy recommendations for the development of green finance? 4) What are the roles of both the public and private sectors in promoting green finance? This paper identifies the mainstream to sustainable bonds, diversification of green finance, transition of corporates' business models, transparency and disclosure, and harmonizing taxonomy and measurement of green finance for the emerging trends of green finance. As the results, this paper recommends some policy measures for the private sector such as greening the banking system, greening the bond market, and greening institutional investors. This paper also suggests some policy initiatives for the public sector such as developing policies and capacity, promoting market transparency and governance, and promoting private-public partnership for diversifying resources of green finance.

• 융합경영연구
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• 제10권6호
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• pp.39-46
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• 2022

Purpose: The purpose of this study is to look at the current status and cases of ESG at home and abroad, and through this, seek ways to activate the ESG strategy of domestic SMEs and suggest a direction. Research design, data and methodology: This study examines the current status of ESG management at home and abroad and examples of companies through related literature on ESG management and performance. Through this, the strategic direction of ESG management of domestic SMEs was presented. Results: Compared to the government and major corporations, SMEs can be said to lack ESG management activities. ESG activities include environmental activities such as carbon neutrality, waste management, eco-friendly supply chain management, establishment of safety and health processes to improve workers' environment, expansion of governance to guarantee autonomy and profitability such as fair trade, protection of social and shareholder rights such as anti-corruption, etc. should be based on Therefore, there are difficulties in ESG activities of SMEs that lack funds and manpower. Conclusions: Compared to the government and major corporations, SMEs can be said to lack ESG management activities However, it will be possible to establish and implement ESG management strategies based on the strengths of SMEs and the characteristics of each company.

• 한국환경과학회지
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• 제17권5호
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• pp.525-535
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• 2008

5 public complaint areas against odor in Changwon Industrial Complex were selected and investigated to clear up the cause of the complaint. 16 companies operated in public complaint areas were visited and had a grip of their situation about odor generation and treatment. Two samples at it's site boundary of each company were taken to measure complex odor unit. Complex odor unit at the site boundary of investigated companies in the public complaint areas, for the most part, exceeded standard(odor unit 20) in industrial area. It was due to that this area was not designated as odor control region and that there are also many problems in current laws of Odor Protection Act, Air Quality Act and regional legislation. Accordingly, It will be necessary to revise the related legislation, to organize governance, to financially support the improvement of environmental facilities and to enforce guidance and the regulation rigidly for the odor emission reduction in Changwon Industrial Complex.

• 의료ㆍ복지 건축 : 한국의료복지건축학회 논문집
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• 제25권4호
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• pp.37-45
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• 2019

Purpose: At the time of consensus on the necessity of appropriate guidelines for health care facilities suitable for Korea, the paper aimed to analyze the characteristics in the aspect of the system of the US Health Care Facility Guidelines(FGI Guidelines) and to suggest implications. Since the system is significant for the guidelines to be socially accepted and operated, this study focuses on the system. Methods: Literature studies focusing on the analysis of prior studies and the 2018 edition of the FGI Guidelines were conducted. Results: As a result of reviewing the history and outline of the FGI Guidelines, the derived characteristics of the system were governance, procedure, and composition. First, it had multi-layered organization and multidisciplinary members. Secondly, the focus is on the procedure of gathering opinions from industry and the public. Third, the Guidelines have been continuously evolving to reflect the needs of the times and changes in the medical environment, and the content framework and method of writing are user-friendly in order to prevent confusion caused by vast contents. Implications: First, we need to consider the composition of a private organization to prepare Korean health care facility guidelines. Second, it needs a system that can induce the participation of multidisciplinary experts. Third, a comprehensive and user friendly guideline needs to be constructed.

• 한국지역지리학회지
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• 제11권1호
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• pp.40-53
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• 2005

영산강은 내륙수로로서 중요한 기능을 수행하였으나, 1981년 영산강하구둑 축조 이후에 주운기능이 소멸되었다. 그 이후에 영산강 하류지역을 중심으로 주운복원과 활용방안에 대한 주장이 제기되어 지금까지 지속되고 있으나, 이러한 논의들이 영산강의 지형적, 수문학적인 특성에 충분히 기초하지 못하고 있다. 영산강 주운복원 및 활용은 과학적인 타당성을 기초로 추진되어야 하는데, 영산강의 특성을 고려할 경우, 주운복원은 구진포에서 영산강하구둑까지 수심이 얕은 일부 구간의 저수로를 준설하여 환경탐사, 생태관광을 목적으로 하는 소형 선박을 운항하는 방안이 바람직하다. 영산강 주운복원 및 활용방안을 모색하기 위해서는 자치단체, 유관기관, 전문가, 민간단체 등이 거버넌스에 입각하여 참여와 협력 체계를 구축하는 것이 필요하다.

• 한국산업정보학회논문지
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• 제27권5호
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• pp.145-156
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• 2022

최근 ESG (Environmental, Social, and Governance)에 대한 관심이 고조되는 가운데 기업경영의 방향성이 주주의 이익 극대화에서 관련한 다양한 이해관계자들의 이익 극대화로 변화하고 있다. ESG 경영은 기업의 공급망 관리 분야에도 다양한 영향을 주고 있다. 본 연구의 목적은 ESG 경영관점에서 공급망 관리 분야의 이슈들과 과제들에 대해서 탐색하는 것이다. 국내 기사자료 3226편을 대상으로 네트워크 텍스트 분석과 토픽모델링 분석을 시행한 결과, '협력사', '지속가능', '동반성장' '탄소중립', '안전보건', 'Responsible Business Alliance', '공급망 실사법' 등이 주요 이슈인 것으로 파악하였다. 공급망에서의 ESG 노력은 개별기업의 노력만으로 이루어지는 것이 아니기 때문에 향후 연구에서는 복잡한 다계층 공급망에서 ESG 경영 전파를 하는데 어떠한 어려움과 이슈들이 있으며 이를 극복하기 위한 전략들은 무엇들이 있는지 분석할 필요가 있음을 본 연구를 통해 확인하였다.

• 산업경영시스템학회지
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• 제45권3호
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• pp.186-196
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• 2022

In recent years, ESG activities (Environment, Social and Governance) have been paid more and more attention by enterprises and their stakeholders in various countries. China is the largest developing country in the world. The ESG performance of Chinese listed enterprises helps to understand the shortcomings of their sustainable development ability and further enhance the firm value. Moreover, the interaction effect between green innovation investment and ESG activities is of great significance for enterprises to balance the resource allocation between the two factors in the future. Taking listed Chinese manufacturing companies from 2011 to 2020 as an example, this study investigates the influence of ESG activities on financial performance and non-financial performance, and tests the moderating role of green innovation. Our results show that: (1) ESG performance has a negative impact on financial performance; (2) ESG performance has a positive impact on non-financial performance; (3) Green innovation can positively adjust the negative impact of environmental activities on financial performance. However, it will enhance the negative impact of governance activities on financial performance. The interaction effect between green innovation and social activities on corporate financial performance is a substitution effect; (4) With the improvement of green innovation level, the positive impact of ESG overall performance and environmental performance on corporate reputation will also be suppressed.

• 산업경영시스템학회지
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• 제46권1호
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• pp.1-14
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• 2023

This study is a leading case of empirical analysis of whether, when corporate stakeholders (government, investors, customers, managers, employees) put pressure on companies for ESG management, it affects the introduction and implementation of ESG activities (environmental, social, governance) and affects business performance. As for the research method, a sustainability report was published, and a web survey of Korea Research Inc. was conducted from May 10 to May 20, 2022 targeting ESG management managers of 192 companies, and analyzed through the PLS structural equation model. As a result of the study, it was found that the introduction and execution of ESG is closely influenced by the pressure from the government, investors, managers, and employees, and in particular, the internal pressure of current managers and executives and employees has a great impact on the introduction and implementation of environmental, social, and governance activities. In particular, although external pressure also has some influence, it is practical to suggest that strong internal pressure is necessary for continuous activities and performance. And, methodologically, the main activity indicators of the GRI Reporting Guidelines, which are the most representative ESG management indicators, were developed as a questionnaire, and reliability, validity, and model fit were secured through comparison with indicators of multiple systems and expert reviews. The limitations of this study are that more in-depth analysis by industry or size is possible when ESG management is mature and sufficient samples are secured, and complex ESG pressure factor modeling is possible when more diverse stakeholders are added.