• Asia Marketing Journal
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• v.25 no.4
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• pp.207-218
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• 2024

Considering the rising interest in environmental, social, and governance (ESG) globally, various studies have shown that ESG practice increases firm value; however, there is still much debate. This study focuses on the relationship between ESG practice and firm value. Further, we identify the mechanisms constituting this relationship to address relevant research gaps. Specifically, this study examines the connection between ESG practice and corporate valuation, emphasizing the mediating role of a company's reputation. Using panel analysis of data from 145 Korean firms (2014-2021), the study reveals that ESG practices notably enhance firm value, signaling their significance to stakeholders. Corporate reputation acts as a bridge between ESG efforts and value, with corporate reputation's influence varying across industries. This research presents broad implications for both academic and industrial fields, highlighting the strategic importance of ESG in enhancing firm value.

• Journal of Distribution Science
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• v.10 no.8
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• pp.15-23
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• 2012

This study is an attempt to explore the nature and characteristics of strategic impact of green strategy by environmental capital, corporate reputation, and technology strengths on the firm's performance across countries. The main question addressed in this paper relates to how corporate sustainability, corporate reputation, technology strength, and capabilities influence the firm's economic performance with respect to diverse dimensions of performance measures including sustained growth through the leading firms across countries in the United States, Canada, Europe, and Asia-Pacific countries. Particularly, this study attempts to empirically explore the directions and magnitudes of the operational links between new emerging strategic core competencies (e.g., sustainability green strategy by environmental focus for more sustainable path, corporate reputation by corporate social responsibility and image enhancement, and technology strengths to develop a new product and market) and the firm's economic performance with respect to diverse dimensions of performance such as accounting (ROE and EOA) - and market-based performance (Market value and Tobin's q). Considering all possible limitations that might exist with regard to selected samples and methods, this study demonstrates that environmental sustainability, corporate reputation, technological capabilities and competencies through R&D intensity and patent are most likely to be significantly associated with most market-based performance measures, but the strategic significance of other variables such as capital intensity, leverage, and administrative cost efficiency on performance tends to be different depending on which performance measure is used across different countries with diverse economic and business contexts.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.171-182
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• 2020

This research focuses on the importance of corporate social responsibility in building the company's reputation. Experts have studied CSR as an antecedent of a company's reputation, but the mechanisms underlying this process are rarely explored. Therefore, to fill this research gap, we demonstrate CSR's implementation combined with organizational justice based on discrepancy and equity theory. This study involved 210 employees in a family company. The study's analysis method uses Structural Equation Model (SEM), SmartPLS, with a five-step measurement and analysis procedure. The variables in this study are CSR implementation, organizational justice, employee trust, firm reputation, organizational objectiveness, organizational commitment, job satisfaction, and job performance. The results found that some of the direct relationships stated were not significant, but all demonstrations of indirect links were substantial. Besides, optimal CSR and organizational justice provide a reliable and positive domino effect in increasing the role and consequences of employee trust and firm reputation. The findings in this study confirm that upstream-downstream job performance causality can be successfully achieved if job satisfaction has been realized, job satisfaction can be achieved if organizational commitment can also be recognized, and organizational commitment can be developed. Reflection and influence, rather than organizational attractiveness becomes essential.

• Korean small business review
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• v.40 no.1
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• pp.67-83
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• 2018

This study investigates the effects of the dynamics of the firm's reputation on performance. Particularly, we argued that not only the level of reputation but also the trend and volatility of reputation plays an important role in formulating the stakeholders' perception about the firm. From our empirical analysis of the U.S. venture capital firms between 1990 and 2010, we found that the level and trend of reputation are positively related to performance and that these relationships are weakened when the volatility of reputation increases. This paper discusses the theoretical contributions and practical implications of these findings.

• The Journal of the Korea Contents Association
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• v.6 no.11
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• pp.25-37
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• 2006

The purpose of this study examines the interrelationships among antecedents and consequences of privacy concern on the online-shopping mall. Based on relevant literature review, a customer's attitude toward direct marketing, a customer's desire to information control, and a customer's prediction of negative effect as antecedents that affect the privacy concern. Also, consequences are a firm's reputation and a customer's purchase experience. Then related hypotheses were tested using data from 165 online shopping mall customer. The results for empirical analysis are as follows; 1) a customer's attitude toward direct marketing affected negatively the privacy concern, 2) a customer's desire to information control and a customer's prediction of negative effect affected positively the privacy concern, 3) a firm's reputation negatively related to the privacy concern, 4) a customer's purchase experience positively related to a firm's reputation.

• Journal of Digital Convergence
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• v.10 no.2
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• pp.133-140
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• 2012

This research has logically investigated and practically analyzed whether a firm's management ethics affect the firm's performance. The proxy measure of management of ethics is the KEJI Index score, the companies assessed with the KEJI, which is published over 6 years from 2004 to 2009 by the Economic Justice Institutein Korea. According to the analysis results, firstly, management of ethics has a positive effect on the ROA firm performance, which supports the existing research results on that the firms that better manage ethics have a better economic performance. Secondly, we found interaction effects of corporate governance on the relationship between management of ethics and firm's performance. One can say that these results bring a new theoretic perspective academically on the reputation effect through management of ethics, and how it affects the firm's performance. Also in practice, the results show not only how the management of ethics is done just for a social flow in enforcing the management of ethics, but also that it is important to make amendments according to the management of ethics by recognizing it's importance and influence on increasing the firm's performance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.455-463
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• 2021

The purpose of this study is to identify the relationship between firm's green marketing approach and firm's reputation improvement among customers. To investigate the object of the current study and provides adequate material to fill a gap in the literature, the current author collected abundant textual data from numerous extant literature. Because the author needed to augment about reliability and validity, textual data from trusted peer-reviewed sources was obtained from numerous databases. Based on a large body of literature, this study suggests that companies have to declare their stand based on their positioning to safeguard their reputation as an entity and that of its products and services. The five components of a company adopting a recognized environmental marketing strategy include product strategy, demand strategy, pricing strategy, distribution strategy, and labeling strategy Thus, firms' environmental marketing strategies have to be designed with the complete intent of transformation as a solution to enhance their reputation. The current study concludes that the comparison of environmental marketing strategies does not correctly help in ranking the concern in an effective way, and describe the exact details needed in each of the five categories for a company to carry its operations in a sustainable fashion.

• Asia-Pacific Journal of Business
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• v.12 no.4
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• pp.87-105
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• 2021

Purpose - The purpose of this study was to explores how CEO general human capital, one of the most critical issues in recent research, affects compensation schemes. Design/methodology/approach - This study collected the CEOs of S&P500 companies from 2001 to 2009 and contains 4,155 CEO-firm-year observations and 704 different CEOs. Findings - First, only contingent bonus is affected by general human capital and reputation. Second, the career concerns of CEOs are relevant, especially when explaining CEO tenure. Third, we offer an alternative view of what determines the level of cash compensation schemes and the factors that affect the running of a firm. Fourth, we also suggest that the increase in general human capital can be explained by the increase in its relative importance in managing a modern firm. Overall, the results of this study do not only contribute to academics but also important to boards and shareholders. Research implications or Originality - This study intends to fill the gap in the extant literature by examining the relationship between general human capital and compensation schemes.First, we add to the compensation literature by arguing that a cash compensation scheme is efficient for generalist CEOs. We break down CEO cash compensation schemes into fixed and contingent bonus compensation and investigate whether general human capital differentially affects CEO cash compensation schemes, and thus, the sensitivity to unequal pay for human capital. Second, we contribute to the reputation literature by arguing that CEO perceived reputation also affects CEO compensation schemes.

• The Korean Journal of Franchise Management
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• v.8 no.2
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• pp.37-47
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• 2017

Purpose - Recently, the food service franchise market is experiencing rapid growth and competition is intensifying. Therefore, consumer choice has expanded, and reputation management has become important as a strategy for survival of corporations. Based on previous studies, this research proposed the theoretical framework about the structural relationships among reputation, trust(cognitive trust, affective trust), and loyalty. Research design, data, and methodology - This study examined the structural relationship between reputation, trust, and loyalty from the customer's perspective. Based on comprehensive validation procedures across nine food service Franchise firm types, This study found support for a five-dimensional scale with the following dimensions: Customer Orientation, Employer Brand, Reliable and Financially Strong Company, Product and Service Quality, and Social and Environmental Responsibility. In order to verify the research purposes, research model and hypotheses were developed. The data were collected from 227 food service franchise consumers through online survey. The data was analyzed with SPSS 24.0 and Amos 23.0 statistical program. Result - The results of the study are as follows. First, customer orientation, reliable·financially strong company and product·service quality have significant impact on corporate cognitive trust. And employer brand, product/service quality and social·environmental responsibility have significant impact on corporate affective trust. Second, cognitive trust and affective trust have significant impacts on consumer loyalty. Conclusions - The implications of this study are following as: From the theoretical perspective, this study considers trust as two dimensions such as cognitive and affective, not a single dimension, and identify what dimensions of franchise firms affect consumers' reputation perception and in turn lead cognitive and affective trust, and loyalty. This study also provides several managerial implications. In the franchise market where competition is intensifying, it is very important to analyze the attitudes of consumers in order to gain an advantage in competition with other competitors. In this study, it is meaningful that the study was conducted on consumers who have experience using a restaurant franchise company. Also, reputation is necessary to pay attention to the company because it is an important variable that strengthens with customer through confidence in food service franchise business, and leads loyalty and consumer consumption. Therefore, marketers should develop marketing strategies considering various reputation factors.

• The Journal of the Korea Contents Association
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• v.19 no.4
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• pp.1-11
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• 2019

Recently, the importance of not only financial factors from financial statements but also non-financial factors such as consumers' evaluation and loyalty to game content is more emphasized when assessing the value of game companies. In this study, we suggest the brand reputation index as an appropriate measure of a game company's valuation and examine the effect of the brand reputation on game companies' stock price using the observations of Korean major 30 game companies. From the empirical results, we find that there is a significantly positive association between the brand reputation index and the game companies' stock price. This explains that the brand reputation of game companies can directly affect their firm value. The findings are expected to contribute to capital markets and academia as they have presented empirical evidence of the importance of brand reputation as a non-financial measure for the valuation of game companies.