• 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.

• 문화기술의 융합
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• 제9권3호
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• pp.75-79
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• 2023

ESG 경영이란 기업 가치를 평가할 때 철저한 투자자 관점을 고려하는 것을 의미하는 것이며, 기업의 경영활동과 관련된 위험 및 기회요인을 파악함에 있어 환경, 사회, 지배구조는 지속적이고 전략적인 모니터링 이슈이다. 즉, 비즈니스 관계에서 가치 창출의 관점이 반영된다. ESG 경영은 지속적인 비즈니스 가치 창출과 계약 관계에서의 투자 리스크 및 비즈니스 거래의 철저한 관리를 근본 목적으로 하며, ESG 경영은 재무적 가치에 대한 '건전한 약속이행'을 위한 엄격하고 투명한 기준이며, 기업가치와 연계된 투자자의 요구사항이기도 하다. 현재 한국 기업들이 가장 많이 경험하고 있는 분야는 투자자 IR 및 글로벌 영업 및 마케팅 부서에서 'ESG에 대한 정보 수집이 필요하고 유지관리가 우선시 되어야 한다'는 인식이며, 이에 대한 일차적인 필요성이 대두되고 있다. 또한 준법경영을 수행하는 법무사무국, 환경안전부서, 인사부서 등에서 관련 실무를 수행하므로 정보 통합 및 관리 체계를 제대로 구축하기 위해서는 조직차원의 명확성이 선행되어야 하며, 궁극적으로 ESG 관리는 기업 프로세스 차원의 리스크 관리, 공시 및 커뮤니케이션 등 새로운 시장 기회를 확보하는 범위를 포괄하고 있다. 따라서 새로이 대두되는 ESG경영에 대한 관심과 대응 방법에 있어서도 재무적 수익에 대한 기업가치 제고 노력뿐만아니라 비재무적 차원의 리스크 관리를 병행하여 지속가능환 수익이 창출되도록 검토와 이행을 반복하여야 할 것이다.

• 국제학술발표논문집
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• The 9th International Conference on Construction Engineering and Project Management
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• pp.1009-1016
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• 2022

As environmental concerns grow, people are becoming more aware of energy efficiency, carbon reduction, and sustainable development. Leadership in Energy and Environmental Design (LEED) certification is currently the most widely recognized building environment assessment method connected to energy and the environment worldwide. This study explores trends for six factors (energy and atmosphere, materials and resources, indoor environmental quality, sustainable sites, water efficiency, and innovation in design) to assess four levels of LEED certification (Platinum, gold, silver, and certified) using 11,209 LEED projects in the United States. The study analyzes trends using scores of percentages of maximum points by certification level, ownership type, space type, and climate zones. With the interest in the Environmental, Social, and Governance (ESG) principle on the rise, this study contributes to a better understanding of the trends and future of LEED certification in the built environment sector.

• International Journal of Advanced Culture Technology
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• 제12권3호
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• pp.317-324
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• 2024

In terms of corporate sustainability management, the footwear industry is still at a very early stage compared to other sectors, and footwear, especially sneakers, is not as far along as apparel due to the nature of the product. As a result, there is a lack of research on sustainability in the sneaker industry in the academic community. Thus, this study analyzed the sustainability practices of three leading brands in the sneaker market, adidas, allbirds, and NIKE, in order to provide basic data for expanding sustainability in the sneaker industry. The study found that the characteristics of sustainable management in sneaker brands are economic efficiency, environmental circularity, social integration, and governance soundness. Sustainable management is increasingly recognized as an essential task in modern society, and as the sneaker market expands, the demand for CSM from relevant brands will grow accordingly. Therefore, the results of this study will help to set policy directions for sneaker brands pursuing sustainable management.

• 산업경영시스템학회지
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• 제45권1호
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• pp.53-70
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• 2022

Recently, due to the change to SASB(Sustainability Accounting Standards Board) and GRI(Global Reporting Initiative) Standards 2021, the paradigm for non-financial information disclosure is changing significantly, with the number of ESG topics and indicators that must be disclosed by industry from an autonomous material topic selection method. This study revealed that the number of compulsory topics in the oil and gas industry by GRI standards 2021 is up to 2.4 times higher than the average number of material topics disclosed when domestic companies publish sustainability reports using GRI Standards 2020. In the oil and gas industry, I analyzed the similarities and differences between the GRI standards 2021 and the ESG topics covered by SASB by environmental, social, economic, and governance areas. In addition, the materiality test process, which is different in GRI standards 2021, is introduced, and the issues included in the following 10 representative ESG-related initiatives are summarized into 62 and suggested improvement plans for materiality test used in the topic pool.

• 동아시아경상학회지
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• 제11권4호
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• pp.11-18
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• 2023

Purpose - By filling the existing research hole and supplying a whole evaluation, this test wants to offer actionable insights for stakeholders navigating the intersection of sustainability and financial prosperity. Ultimately, this study contributes to the evolving speak on ESG, fostering a deeper comprehension of its implications for fostering sustainable economic increase. Research design, data, and methodology - Based on the numerous prior literature, the current study adopts a rigorous and systematic approach to discover the connection between Environmental, Social, and Governance (ESG) performance and its effect on a financial boom. The Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method is the guiding framework for systematically accumulating and analyzing earlier research studies. Result: The finding of this study indicates that using ESG-pushed innovation, practitioners can force technological advancements inside their respective industries. By combining sustainability with research and improvement tasks, corporations can be leaders in selling economic boom through current, green solutions. Conclusion - In summary, this study concludes that embracing those findings in this study allows practitioners and managers to enhance their organization's easy regular, well-known traditional regular standard overall performance and undoubtedly contribute to a broader financial boom via leveraging the transformative strength of ESG necessities.

• 한국경영과학회지
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• 제39권4호
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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.

• 디지털융복합연구
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• 제21권2호
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• pp.9-16
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• 2023

본 연구는 ESG(환경, 사회, 지배구조)에 대한 연구 동향을 분석함으로써 그 트렌드를 분석하고 기업과 투자자들이 ESG 정보를 활용하는 방을 모색하는 방향을 제시하는 것을 연구목적으로 한다. 이를 위해 비정형 데이터마이닝 기법 중 하나인 텍스트마이닝을 활용하여 분석하였다. SCOPUS 데이터베이스에서 2014년 1월부터 2023년 2월까지의 논문 초록을 수집하였으며, Economics, Econometrics and Finance 분야가 가장 많았다. 미국과 중국이 가장 많은 ESG 논문을 게재하였으며, 한국은 세계에서 6번째로 많은 논문을 게재하였다. 본 연구에서는 ESG의 주요 연구 동향을 텍스트마이닝 기법인 LDA, 토픽모델링 등의 방법을 사용하여 분석을 수행하였다는 점에서 의의가 있다. ESG가 특정한 분야가 아닌 다양한 분야에서 이루어지고 있다는 사실을 확인할 수 있었으며, ESG가 미치는 다양한 영향 요인과 파급효과에 대한 분석을 수행하였다는 점에서 기존 연구들과 차별성이 있다.

• 한국IT서비스학회지
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• 제22권4호
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• pp.171-184
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• 2023

FinTech, which has brought innovation to the financial industry thanks to the advancements in ICT since 2010, has contributed to the growth of the financial ecosystem and increased consumer benefits. Furthermore, there has been a growing demand for social responsibility and sustainability in financial institutions, which have a significant impact on governments, businesses, and people's lives. Despite this, many FinTech companies and traditional financial institutions are still in the early stages of establishing ESG (Environmental, Social, and Governance) management philosophy or lack long-term plans. In this study, we aim to examine the impact of ESG management on the FinTech industry, focusing on representative domestic cases, and derive policy and institutional measures to spread it in the financial industry. Specifically, we will adopt MSCI rating indicators, which are internationally accepted by various industries such as manufacturing, healthcare, and transportation, to evaluate the 35 ESG management subcategories of FinTech companies. As a result, a total of 22 compliance items were disclosed in the ESG report, and it was possible to confirm the detailed management. Through this, we intend to propose effective management strategies for the organizational structure, operations, programs, and performance evaluation of FinTech companies, which are positioning themselves as sustainable growth drivers in the domestic industry.

• 한국가스학회지
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• 제28권2호
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• pp.56-65
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• 2024

본 연구는 탄소중립을 위해 노력하는 가스 관련 에너지 기업(기관)의 ESG 활동이 종업원의 조직 자부심과 조직 신뢰를 통해 직무성과에 미치는 영향을 분석하기 위한 목적으로 진행되었다. 345명의 가스 관련 공공기관과 민간기업에 종사하는 직원의 설문 결과를 Smart PLS 4.0을 사용하여 분석하였으며, 연구모형과 가설을 설정한 후 검증하였다. 검증 결과 환경(E) 활동과 관련한 ESG 활동은 조직 자부심과 조직 신뢰에 영향을 미치지 않았으나, 사회(S) 활동과 지배구조(G) 활동은 조직 자부심과 조직 신뢰에 유의한 영향을 미치는 것으로 나타났으며, 조직 자부심과 조직 신뢰는 직무성과에 영향을 미치는 것으로 나타났다. 특히 ESG 조직구성원의 조직 자부심이 높을수록 조직신뢰가 직무성과에 미치는 영향이 높은 것을 확인하였다. 본 연구는 가스 관련 에너지 기업(기관)의 ESG 활동과 관련하여 발전적 방향을 제시하고자 한다.