• 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.

• The Journal of Information Systems
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• v.12 no.2
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• pp.109-128
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• 2003

This study is intended to suggest an ideal direction of the information systems policy for the local small business firms. In an effort to accomplish this objective, this paper tried to identify the current states of the information systems and measure the level of the information systems of local small business firms based on the maturity stage and the development level. The study then explored the evidence how the maturity stage and the development level affect the business performance of the local small business firms. The research found out that the organizational factor such as the support of CEO and the financial factor such as IS investment took major roles to improve the business performance. Based on the research findings of this study, the paper suggested the desirable solution of the information system policy to deal with the problems the local small business firms need to overcome.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.142-146
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• 2015

Human resources development is considered a critical issue for improving productivity of workers in construction industry. The aim of this study is to identify and rank the key motivating factors that impact skilled workers productivity according to their relative importance. A total of 27 factors were identified through a literature review, which were categorized into 2 group financial and un-financial motivators. A questionnaire instrument was adopted in this study. The study revealed that the most significant group which affected skilled workers' productivity in construction projects was financial group with the recognition of the un-financial group importance. The results emphasized that the financial group has an edge over the un-financial group which reflect the priority of need for the respondents. The results indicated that the un-financial group represents a backbone in its importance after the financial group which reflects that un-financial factors can improve productivity. The findings showed that the provision of companies to safety conditions factor such as protective safety clothing and protective equipment was ranked very low by the respondents. This is due to the dominant culture of the workers as well as the lack of their awareness regarding their own safety and lack of companies' interest in safety and health for workers. Construction companies are advised to take the key motivating factors obtained from the results of this study into serious consideration in order to improve the satisfaction of their workers and improve their productivity.

• Management & Information Systems Review
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• v.25
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• pp.321-337
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• 2008

The house price rise suddenly is not only Economic stability but economic, mental state of a heavy burden to people. This paper is a house finance environment analyzed in this research about the rise factor of the house price and the result to present the plan to the natural disposition. The financial institute has an influence on the disguised demand extension of the house and The mortgage Lending in commercial Banks with the earnings as the stability high than the industry loaning. A house finance environment changes and will go from economic factor of the variety of the life style, the housing conditional according to the income level, a children education condition, and the population structure many this little. The disposition of the house need changes according to this and will have an influence on the house price. Necessary for a house market environment house policy of the market need which the consistency reflects so that we are suitable and is desired.

• Journal of the Economic Geographical Society of Korea
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• v.8 no.2
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• pp.247-266
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• 2005

The purpose of this paper is to analyse the effects of a firm's financial and non-financial factors on the relationship formation with its main bank in the industry of parts and material in Pusan-Kyungnam region. The results, out of accordance with the relation-banking or regional financial market perspective, do not support the hypothesis that regional financial institutions would be useful for decreasing the financial difficulties of the small and medium firms in the region. The analyses about the effects of non-financial factors on the formation of main bank relations show that while Kookmin Bank and Industrial Bank play important roles as main banks of small businesses other national banks put emphasis on the transaction lending. And the analyses about the effects of financial factors show that firms having main bank relations with non-bank financial institutions and Kookmin bank are more profitable and stable than firms having main bank relations with other banks including local banks. On the whole it seems that local banks are not making a commitment to the regional economy and their operational grounds are not strong enough.

• World Technopolis Review
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• v.4 no.3
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• pp.144-156
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• 2015

Globalization and knowledge-based economy have increased the importance of local areas as the units of global competition. Therefore, the meaning of localities has been emphasized as the core value of economic activities. In this context, innovation cluster has been recognised and emphasized as effective policy measure for innovation. Therefore, most countries have been trying to develop innovation clusters with their expectation for a rapid growth of economy. Nevertheless, there have been minimal empirical researches on innovation cluster. Therefore, for suggesting implications that activation factors of innovation cluster are to have an effect on tenant's business activities, this study conducted a literature review for the theories of regional innovation system(RIS) and innovation cluster. As a result, the activation factors of innovation cluster were classified into institutional, physicals, and social factor. The case of Gyeonggi province's innovation cluster policy was examined for an empirical analysis. Data were analyzed using ordered logistic regression. The results were as follows:First, Institutional and Infra factors had a positive influence on firms' business activities in every empirical test, so they were the most important activation factors of innovation cluster. Second, regarding the interactive effects of financial support, the interactive effects between financial support and Infra factor had a positive influence on the firms' business activities, according to the result of the empirical test.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.183-194
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• 2022

The objective of this article is to assess the impact of corporate social responsibility (CSR) implementation on Corporate Brand Value (CBV) and Corporate Financial Performance (CFP). At the same time, the article examines the mediated role of CBV on the relationship between CSR implementation and CFP. In-depth interviews and observation techniques were used in this article on 4 experts to collect qualitative information. Quantitative analysis was based on primary data obtained from 454 employees working at enterprises providing Bancassurance services. The article uses various models of Cronbach's Alpha coefficient, Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and Structural Equation Analysis (SEM) using SPSS 22.0 and AMOS 20.0 software. In addition, a 5-point Likert scale is used to measure observed variables. Research results show that CBV plays an intermediate role in the relationship between CSR implementation and CFP. At the same time, the implementation of CSR toward communities, customers, and workers directly impacts CBV and CFP. The article draws a new conclusion; there is no relationship found between the implementation of CSR and CFP. The result proposes implications for the state and Bancassurance service providers to develop and implement CSR-related policies and activities to enhance their brand value and financial performance.

• Korea Trade Review
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• v.45 no.5
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• pp.303-324
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• 2020

The objective of this study is to verify the effect of the market orientation, CEO capacity, and environmental characteristics of overseas markets on the performance of overseas expansion among the success factors of domestic overseas expansion companies. For this purpose, employees of domestic overseas companies based in the Seoul metropolitan area were surveyed, and the hypothesis test was conducted. As a result of the verification, among the contributors to overseas advancement of domestic overseas companies, the factors of CEO capacity, overseas business_education ability, market environment and market size have a significant positive effect on the financial performance of overseas expansion. However, market-oriented factors were found to have no significant effect on the financial performance of overseas expansion. Among the contributors to overseas advancement of domestic overseas companies, the market-oriented factor, the customer-oriented factor, has a significant positive effect on the non-financial performance of overseas expansion. However, factors in CEO competency and environmental characteristics in overseas markets do not have a significant positive effect on the non-financial performance of overseas expansion.

• The Korean Journal of Health Service Management
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• v.10 no.1
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• pp.13-26
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• 2016

Objectives : The aim of this study was to investigate whether there is a difference in the factors affecting the financial performance and profitability before and after the specialty hospital designation and thereby identifying the differentiated significance of the financial performance of specialty hospitals. Methods : Based on the year 2011, the analysis period was divided into the pre-specialty hospital designation (2007-2010) and post-specialty hospital designation (2011-2014), and the data were pooled according to the respective analysis period and analyzed by descriptive statistics and regression analysis. Results : The difference in the financial factors that affected the financial performance and profitability before and after the specialty hospital designation was discovered, and a financial performance factor different from prior studies was found. Conclusions : This study identified improved outcomes in financial performance due to the specialty hospital designation and the factors that affect profitability in terms of the finance of specialty hospitals.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.191-201
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• 2021

This article examines the role of financial development in economic growth in a number of transitional economies where the financial systems were newly established or reformed only in the early 1990s to facilitate their transition from centrally planned economies to market-based ones. Based on a dataset collected from 29 transitional economies and 5 Asian developing economies covering the period 1990-2020, an empirical endogenous growth model is specified and estimated using the generalized method of moments (GMM). Three measures of financial development are used to investigate the relative role of the banking system and stock exchange market in the process of transition and growth. The results show that the three measures of financial development are crucial determinants of economic growth in transitional economies but the link seems to be in an inverted U-shape. This suggests the existence of thresholds for different channels of the financial sector to expand to positively influence growth. When becoming too large relative to the size of the economy, the financial system would have become a factor not conducive to growth. The growth convergence hypothesis is also confirmed and the impacts of other growth determinants are overall consistent with the extant literature.