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The Difference in the Impact of Fashion Companies' ESG Activity Grade Levels on Management Performance and Corporate Value (패션 기업의 ESG 활동등급 수준이 경영성과 및 기업가치에 미치는 영향의 차이)

  • Yu-Been Kim;Zhang Qin
    • Journal of the Korea Fashion and Costume Design Association
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    • v.26 no.1
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    • pp.99-109
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    • 2024
  • This study focused on analyzing the difference in the impact of non-financial performance, specifically ESG (Environmental, Social, and Governance) activity grade level, on management performance and corporate value among the 25 fashion companies listed on the Korea Exchange that completed their ESG evaluation in 2022. The companies were categorized into three levels based on their ESG evaluations: ESG Integrated Grade (ESG-T), ESG-E (Environmental), ESG-S (Social), and ESG-G (Governance). The study then empirically analyzed how these levels affected management performance and corporate value. The empirical analysis revealed significant differences in the impact on management performance and corporate value depending on the ESG activity grade level. Companies with higher ESG grades exhibited better management performance and higher corporate values across all ESG sub-variables (ESG-T, ESG-E, ESG-S, ESG-G) compared to those with lower grades. This finding demonstrates the influence of ESG activity grade levels on improving management performance and enhancing corporate value in fashion companies. The results of this research provide meaningful insights into the direction of sustainable management through ESG activities in fashion companies.

Effect of Sodium Caseinate Hydrolysates on Angiotensin-I Converting Enzyme Inhibition Activity (Sodium Caseinate 가수분해물의 Angiotensin-I Converting Enzyme 저해효과에 관한 연구)

  • Lee, Keon-Bong;Shin, Yong-Kook;Baick, Seung-Chun
    • Food Science of Animal Resources
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    • v.32 no.5
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    • pp.652-658
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    • 2012
  • This study was carried out to identify the ACE (Angiotensin converting enzyme) inhibitory activity of casein hydrolysates for development of anti-hypertensive hydrolysates. Sodium caseinate was treated with six kinds of commercial proteases such as Flavourzyme, Protamex, Neutrase 1.5, Alcalase, Protease M, and Protease S for 8 h individually, and was then treated with the enzyme combination for 4 h at $45^{\circ}C$. The hydrolysate which had the highest ACE inhibitory effect was then hydrolysed successively with three digestive enzymes: pepsin, trypsin, and ${\alpha}$-chymotrypsin, at $37^{\circ}C$ for 4 h under conditions mimicking those of the gastrointestinal tract. UF (ultra filtration) treatment was applied to one of the secondary hydrolysates to determine ACE inhibitory activity. When sodium caseinate was hydrolysed by commercial proteases, the degree of hydrolysis (DH) showed 2.54 to 4.25% and after secondary hydrolysis, DH showed 4.30 to 5.22%. ACE inhibitory activity and $IC_{50}$ values decreased, and inhibition rates increased during hydrolysis. Protamex treatment showed the lowest $IC_{50}$ value ($516{\mu}g/mL$) and Flavourzyme hydrolysate showed the highest $IC_{50}$value ($866{\mu}g/mL$). As the first hydrolysate was treated with Flavourzyme, the ACE inhibitory activity increased. Neutrase hydrolysate had the highest activity with an $IC_{50}$ value ($282{\mu}g/mL$). When Neutrase plus Flavourzyme treatment was hydrolyzed by digestive enzymes, the $IC_{50}$ value ($597{\mu}g/mL$) was decreased statistically (p<0.05). As Neutrase plus Flavourzyme hydrolysate is treated by UF with MW cut-off 10,000, permeate showed $273{\mu}g/mL$ of $IC_{50}$ value, showed no difference, but retentate which has over MW 10,000 showed statistically different $IC_{50}$ value, $635{\mu}g/mL$ (p<0.05).

Hematological Reference Values in the Healthy Adults (건강성인의 혈구 참고치 산정)

  • Kim, Young-Jin;Hyun, Myung-Soo;Lee, Hyun-Woo
    • Journal of Yeungnam Medical Science
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    • v.8 no.1
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    • pp.154-165
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    • 1991
  • To establish the hematological reference values in the healthy adults visited our hospitals, following examination were done on 2823 persons by Coulter Counter Model S-plus II ; white blood cell count: (WBC), red blood cell count(RBC), hemoglobin(Hb), hematocrit(Hct), mean corpuscular volume (MCV), mean corpuscular hemoglobin(MCH), mean corpuscular hemoglobin concentration(MCHC), red cell distribution width(RDW), platelet, plateletcrit, mean platelet volume(MPV) and platelet distribution width(PDW). The following results are obtained. 1) Male, mean value of WBC ; $6,800{\pm}2,680(2SD)/{\mu}l$ Female, mean value of WBC ; $5,950{\pm}2,380(2SD)/{\mu}l$ 2) Male, mean value of RBC ; $428{\pm}60(2SD){\times}10^4/{\mu}l$ Female, mean value of WBC ; $415{\pm}56(2SD){\times}10^4/{\mu}l$ 3) Male, mean value of Hb ; $15.4{\pm}1.8(2SD)g/dL$ Female, mean value of Hb ; $13.0{\pm}1.6(2SD)g/dL$ 4) Male, mean value of Hct ; $45.3{\pm}5.0(2SD)%$ Female, mean value of Hct ; $38.2{\pm}4.6(2SD)%$ 5) Male, mean value of MCV ; $93.8{\pm}5.8(2SD)fL$ Female, mean value of MCV ; $92.2{\pm}7.4(2SD)fL$ 6) Male, mean value of MCH ; $31.8{\pm}2.2(250)pg$ Female, mean value of MCH ; $31.4{\pm}2.8(2SD)pg$ 7) Male, mean value of MCHC ; $34.0{\pm}1.2(2SD)%$ Female, mean value of MCHC ; $33.9{\pm}1.2(2SD)%$ 8) Male, mean value of RDW ; $12.7{\pm}1.0(2SD)%$ Female, mean value of RDW ; $12.6{\pm}1.4(2SD)%$ 9) Male, mean value of Platelet ; $242.9{\pm}87.8(2SD){\times}10^3/{\mu}l$ Female, mean value of Platelet ; $242.2{\pm}89.0(2SD){\times}10^3/{\mu}l$ 10) Male, mean value of Plateletcrit ; $0.201{\pm}0.076(2SD)%$ Female, mean value of Plateletcrit ; $0.204{\pm}0.076(2SD)%$ 11) Male, mean value of MPV ; $8.20{\pm}1.70(2SD)fl$ Female, mean value of MPV ; $8.36{\pm}1.82(2SD)fl$ 12) Male, mean value of PDW ; $16.1{\pm}0.8(2SD)%$ Female, mean value of PDW ; $16.0{\pm}0.8(2SD)%$.

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Change in Anthocyanin Contents by Cultivation and Harvest Time in Black-Seeded Soybean (검정콩의 재배 및 수확시기에 따른 안토시아닌 함량 변화)

  • Joo Yong-Ha;Park Jae-Hun;Kim Yeong-Ho;Choung Myoung-Gun;Chung Kil-Woong
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.49 no.6
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    • pp.512-515
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    • 2004
  • The purpose of this experiment was to obtain informations about variation of anthocyanin content within black-seeded soybean testa according to cultivation and harvest time. Three varieties, Ilpumgeomjeongkong, Geomjeongkong 2, Tawonkong were tested in this experiment. Seeds were planted on April 15 (early planting), May 15 (optimum planting), and June 15 (late planting), respectively. Harvest time was R6 (full seed), R7 (physiological maturity), and R8 (harvest maturity), respectively. The content of delphinidin-3-glucoside (D3G), cyanidin-3-glucoside (C3G), petunidin-3-glucoside (Pt3G), and total anthocyanin (TA) had all increased gradually from April 15 to June 15 as well as R6 to R8. There was no varietal difference in D3G, but C3G and TA of Geomjeongkong 2 were higher than other two varieties. Pt3G was the highest Tawonkong of varieties. The value of L as anthocyanin color difference had gradually decreased from April 15 to June 15 and R6 to R8, Geomjeongkong 2 among three varieties was the lowest. The value of a was the highest on May 15 and increased gradually from R6 to R8, Geomjeongkong 2 was the lowest. The value of b was the highest on June 15 as late planting and was the highest Geomjeongkong 2 of varieties. The value of b had increased gradually from R6 to R8. D3G, C3G, Pt3G, and TA contents showed mutually high positive correlation and these four characters were represented high negative correlation with L value but showed high positive correlation with a and b values. The value of L showed high negative correlation with a and b values. The value of a showed high positive correlation with b value.

Use of Resin Infiltrant to Prevent Discoloration after Teeth Whitening

  • Min, Ji-Hyun
    • Journal of dental hygiene science
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    • v.22 no.3
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    • pp.156-163
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    • 2022
  • Background: This study attempted to apply resin infiltrant (RI) as a method to maintain the effect of tooth bleaching treatment and compared it with fluoride varnish (FV) or artificial saliva to evaluate the effect. Methods: Sixty healthy lozenge specimens were classified into five groups. Group 1 was the negative control group, and discoloration was induced after artificial saliva treatment of the tooth specimen (G1S+C). Group 2 was a positive control group, in which pigmentation was induced after bleaching treatment and artificial saliva treatment (G2 B+S+C). Coloration was induced in group 3 (experimental group 1) after bleaching treatment and artificial saliva treatment, followed by application of fluorine varnish (G3B+FV+S+C). Coloration was induced in Group 4 (experimental group 2) after applying RI after bleaching treatment and artificial saliva treatment (G4B+RI+S+C). Pigmentation was induced in group 5 (experimental group 3) after bleaching treatment and artificial saliva treatment, followed by acid treatment (etching) and treatment with RI (G5B+E+RI+S+C). Coffee and wine were used to induce discoloration. The lightness value (L*) of the CIE L*a*b* color system was obtained by image analysis. Kruskal-Wallis H analysis was performed for the mean difference in L* values by group. Results: When coloration was induced with coffee, there was no significant difference in L* value between artificial saliva (G2 B+S+C), FV (G3B+FV+S+C), and RI (G4B+RI+S+C, G5B+E+RI+S+C) groups. There was no significant difference in L* values between the artificial saliva (G2 B+S+C), FV (G3B+FV+S+C), and RI (G4B+RI+S+C, G5B+E+RI+S+C) groups, even in the case of wine induced coloration. Conclusion: It was confirmed that artificial saliva or RI treatment had similar effects to the FV previously used to maintain the effect of tooth bleaching treatment.

The Impact of Firms' Environmental, Social, and Governancial Factors for Sustainability on Their Stock Returns and Values (지속가능경영을 위한 기업의 환경적, 사회적, 지배구조적 요인이 주가수익률 및 기업 가치에 미치는 영향)

  • Min, Jae H.;Kim, Bumseok;Ha, Seungyin
    • 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.

Comparison with Threshold Limit Value (TLV) of Menthol Cigarettes between Expert and Consumer Panel

  • Lee Seung-Yong;Lee Whan-Woo;Kim Young-Hoh
    • Journal of the Korean Society of Tobacco Science
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    • v.28 no.1
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    • pp.58-66
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    • 2006
  • Threshold limit value (TLV) test between expert and consumer panel was conducted about absolute, recognition and difference threshold respectively. And we tried to suggest appropriate and minimum acceptable menthol concentration level by consumer panel. Determination of threshold value was based on ASTM E 679-79 method by forced-choice ascending concentration series. In addition, a semi-ascending paired difference method was referred to conduct test. The group threshold value was determined as the value of geometric mean individual threshold. The smokers were dividend by two groups, trained and consumer panel. Trained panel was selected according to sensitivity to menthol discrimination. Consumer panel wasrecruited in proportion as population ratios including female smokers. They were all over twenty years old volunteers and summed up thirty four persons. In terms of sensor evaluation, overall difference test with seven-category scale by both trained and consumer panelists were done. On judging correct or incorrect answer, two by three cut-off levels applied to. Every test was conducted with two sessions, before smoking and during smoking period. And, only two samples served each paneI per test with regard to sensory fatigue and reliable results. All tests were replicated, and in total 32 times per panelist. In conclusion, the recognition threshold about consumer and expert panel was 358 ppm/cig. and 276 ppm/cig. in separately. Besides, absolute and difference thresholds were obtained also. And, we conduct difference threshold test with two different ways, upward and downward. And, The results of each method were 246, 195 ppm/cig., 1414, 1336 ppm/cig. and 1047, 972 ppm/cig.

Effect of age, season and sex on the blood properties in the Cheju horse (제주마(濟州馬)의 혈액성분(血液成分)에 미치는 연령(年齡), 계절(季節) 및 성(性)의 영향(影響))

  • Han, Bang-kuen;Chang, Duk-gi;Hyun, Hae-sung
    • Korean Journal of Veterinary Research
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    • v.30 no.4
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    • pp.525-532
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    • 1990
  • The values of blood composition were analyzed by age, season, and sex from Chejuhorse in Korea. The results obtained were summarized as follow; 1. The values of white blood cell(WBC), packed cell volume(PCV), mean corpuscular volume (MCV), and mean corpuscular hemoglobin concentration(MCHC) were significantly different between age. The WBC value was decreased with the progress of age and the PCV value was lower in the early age of 1,2 to 3 years than in the higher age of 4 to 5, and over 6 years. 2. The mean value of MCV was increased with the progress of age but the adverse was true in MCHC. 3. In the case of seasons, the values of red blood cell(RBC), WBC, hemoglobin(Hb) PCV, MCV, mean corpuscular hemoglobin(MCH), MCHC, globulin(Glo), albumin/globulin(A/G) ratio, inorganic phosphorus(Pi), cholesterol(Chol), and chlorine(Cl) showed significant differences. The number of RBC was not varied from winter to summer but decreased in autumn. The number of WBC was high in summer and autumn, but low in winter and spring. 4. The values of MCV were high in autumn and winter, but low in spring and summer. 5. The values of MCH and MCHC were similar in spring and summer, but strikingly increased in autumn. 6. The values of Glo and A/G ratio were negatively correlated with the season; The value of A/G ratio was lowest in summer but no differences were observed in spring, autumn and winter. On the other hand, the value of Glo was highest in summer but no differences were observed in spring, autumn, and winter. 7. The values of Pi, Chol, and CI were high in summer and winter, but low in spring and autumn. 8. The values of RBC, MCV, and MCH were significantly different between sex. The value of the RBC count in male was higer than the female, but the adverse is true in MCV, and MCH.

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Blood Picture of Race Horses in Korea (경주마(競走馬)의 혈액상(血液像)에 관(關)하여)

  • Kim, Tae Jong;Lee, Kang Wook
    • Korean Journal of Veterinary Research
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    • v.14 no.2
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    • pp.179-184
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    • 1974
  • The blood picture of 85 healthy race horses in Korea was investigated. The ranges and mean values of erythrocyte, hemoglobin, hematocrit value, mean corpuscular volume, mean corpuscular hemoglobin concentration, and total white blood cell count in the blood picture were determine. The respective mean value and standard deviation and age differences were as follows: 1. The erythrobyte count was shown as range of 6.20 to $11.32{\times}10^6/mm^3$ with mean of $8.61{\pm}1.92{\times}10^6/mm^3$(SD). The leucocyte count was shown as range 5.0 to $18.0{\times}10^3/mm^3$ with mean of $8.25{\pm}1.51{\times}10^3/mm^3$(SD). There were not significant. differences in age, 2. The mean value of hemoglobin was shown $13.9{\pm}1.7g/100ml(SD)$ ranging 9.8 to 16.8g/100ml. The mean value of hematocrit was shown $40.9{\pm}3.94ml/100ml(SD)$ ranging 26 to 54. There were not significant differences in age. 3. The mean corpuscular hemoglobin was shown as range of 11.8 to 22.2pg with mean of $16.9{\pm}4.69$(SD). The mean corpuscular volume was shown as range of 34.5 to $71.3cu{\mu}$ with mean of $49.0{\pm}7.32cu{\mu}$(SD). The mean corpuscular hemoglobin concentration was shown as range of 30.6 to 39.4 g/100 ml with mean of $34.6{\pm}2.36$(SD). There were not significant differences in age. 4. The correlation among erythrocyte count, hemoglobin and hematocrit value were observed as follows: Erythrocyte count and hemoglobin (+0.328), rythrocyte count and hematocrit vague (+0.319). A linear regression equation was shown as follows: Erythrocyte count and hemoglobin (Y=0.336x+10.977), erythrocyte count and hematocrit value (Y=0.655x+35.274). 5. The high correlation between hemoglobin and hematocrit vague was observed (r= +0.836). A linear regression equation was shown: (Y=1.948x+13.895).

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Food Component Characterization of Muscle around Pectoral Fin, Salmon Fillet Processing By-products (연어 Fillet 부산물인 가슴지느러미 부근 근육의 식품성분 특성)

  • Heu, Min-Soo;Lee, Dong-Ho;Kang, Kyung-Tae;Kim, Hyung-Jun;Yoon, Min-Seok;Park, Kwon-Hyun;Kim, Jin-Soo
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.38 no.1
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    • pp.70-75
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    • 2009
  • For the effective use of salmon processing by-products, the food components of muscle around pectoral fin (MAPF) were investigated and compared with those of salmon fillet muscle (SFM). The proximate composition of MAPF was 64.4% for the moisture, 17.2% for the crude protein, 16.2% for the crude lipid and 1.4% for the ash. The pH, volatile basic nitrogen (VBN) content and yield of MAPF were 6.73, 7.8 mg/100 g and 7.4 (g/100 g SFM), respectively. The trichloroacetic acid (TCA) soluble-N content of MAPF was 479 mg/100 g, which was lower than that (612 mg/100 g) of SFM. The Hunter value of MAPF was 54.86 for L value, 22.08 for a value, 22.41 for b value and 52.35 for ${\Delta}$E value, which were similar to those of SFM. The total content in amino acids of MAPF was 17.1 g/100 g, its major amino acids were aspartic acid, glutamic acid, leucine and lysine. The major fatty acids of MAPF were 16:0, 18:1n-9 and 18:2n-6, 20:5n-3 and 22:6n-3. No differences were found in the major fatty acids and the major amino acids between MAPF and SFM. The calcium and phosphorus contents of MAPF were 19.1 mg/100 g and 211.7 g/100 g, respectively. These results suggested that MAPF could be used as seafood resources.