• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.953-962
• /
• 2021

This study aims to examine the effect of environmental performance and good corporate governance (GCG) on the firm values mediated by corporate social responsibility (CSR). The sample in this study was obtained using a purposive sampling method and collected from 205 companies. The analytical method used is moderating regression analysis. The results of this study indicate, first, that corporate social responsibility affects the value of the company. The results of this study indicate that the better corporate governance will increase the value of the firm and vice versa. Second, corporate social responsibility has a direct effect on the firm value, but the effect is still smaller when compared with the internal mechanisms of good corporate governance. This study also found that corporate social responsibility cannot mediate the effect of good corporate governance on firm value. Third, the company's environmental performance influences the company's value. Finally, the effect of environmental performance on company value will be better if mediated by corporate social responsibility. This result shows that environmental performance is a proof that the company's environmental and social concern, which is manifested in corporate social responsibility, will be responded positively by the market so that it will increase share prices (firm value).

• Journal of Hydrogen and New Energy
• /
• v.21 no.3
• /
• pp.184-192
• /
• 2010

PEM fuel cell produces electric power, water and heat by the electrochemical reaction of hydrogen and oxygen. The heating value is dependent on the molar enthalpy of vaporization of product water and the performance loss. In this paper, the heating value of fuel cell stack has been studied under various stack operating temperatures to achieve more efficient heat management. A technology using the molar enthalpy of vaporization of product water is suggested to reduce heat-up time during start-up of a fuel cell vehicle.

• Korean Journal of Organic Agriculture
• /
• v.20 no.4
• /
• pp.543-561
• /
• 2012

This work is for reasonable valuation method of environmental-friendly and organic company. Reasonable valuation method is principal for the sound development, the reasonable investment and the growth of stock market. This study proposes valid valuation and method for environmental-friendly and organic company. The author selected 4 companies from certificate list of environmental-friendly and organic food and LOHAS (Lifestyles Of Health And Sustainability) food of Korean standards association. Applying financial audit report of 5 years, the author output 5 variables from each companies by using Growth Option model of Real Option model. And the author valuated companies by adding option value calculated with these variables and residual value discounted with cash flow discounted method. Company values from ROV model were 1.71 time higher than DCF model. This results show that the value of environmental-friendly and organic food company may own high option premium, that is the growth factor.

• Management & Information Systems Review
• /
• v.19
• /
• pp.17-48
• /
• 2006

While the existing research took approach method that uniformly divided the cultural difference between specific countries into individualism - collectivism in the dimension of comparative culture, this research defines the cultural sense of value of domestic university students and company employees in accordance with horizontalism-verticalism pattern within it to corroboratively define the diverse effects of advertisements of standardization and localization of global enterprises. Researching the difference of cultural sense of value owing to this generation of Korean university students and company employees, Korean university students showed prominent propensity of vertical-individualism value and company employees, propensity of horizontal-collectivism value. Researching comparatively the effect of advertisements for standardization and localization of global enterprises in connection with Korean university students and company employees, it turned out Korean university students prominently prefer localization advertisement in the TV advertisement of global enterprises and company employees, standardization advertisement. Especially, the difference between standardization advertisement and localization advertisement of university students and company employees was very remarkable in trademark attitude and advertisement information rather than advertisement attitude. With respect to model appearing in the advertisement, it turned out university students prefer localization advertisement where domestic models appear and company employees prefer standardization advertisement where foreign models appear.

• Journal of Distribution Science
• /
• v.16 no.1
• /
• pp.29-36
• /
• 2018

Purpose - The purpose of the research is to further explore the understanding of the nature of the brand distribution service (i.e., service brand) by undertaking a quantitative investigation. We focus on the role of customer's perception of service brand on the customer value creation process. Research design, data, and methodology - This study used single cross-sectional design and 137 airline passengers as respondents using a convenience random sampling. We distributed the online questionnaires by email address. The empirical setting for this research is airline service in Indonesia with a consideration that airline service has the useful context for this research as the service delivery process involve extensive customer interactions with the airline and its employees. We then analyzed the data using multiple regression (step-wise) method to fulfill the research objectives. Results - Using the step-wise regression method, the result shows that the influential factors to create customer value are cost and company image. The result suggests a company to improve its costs components and its company image in order to increase the customer value. Conclusions - The research shows that costs play a critical role, and completed with the company image to form the customer value variable. This shows that mostly customer formed their value based on costs they sacrificed. Mainly, this evaluation is monetary cost based, while Indonesian customers tend to have a high value for money demands.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.15 no.3
• /
• pp.119-135
• /
• 2013

The purpose of this study was to investigate the relationship between consumption values of preschooler clothing and purchasing satisfaction, company brand loyalty and involvement of preschooler clothing with the mothers of preschoolers. An online survey was adapted as methodology of this study. The collected 323 questionnaires were collected and statistically analyzed. The nine consumption value of preschooler clothing(vicarious satisfaction value, social value, functional value, convenient value, economic value, coordination value, aesthetic value, distinctive value, and fashionable value) resulted from the analysis of survey. Purchasing satisfaction, company brand loyalty, involvement of preschooler clothing was Uni-dimensional. Statistical analysis was performed with frequency analysis, descriptive statistics, exploratory factor analysis, multi-group analysis, confirmatory factor analysis, bivariate correlation analysis, distribution, structural equation, cluster analysis, independent sample t-test, one-way analysis of variance. The results of this study are as follows. In the consumption value of preschooler clothing influencing on the purchasing satisfaction was evaluated depending on the involvement of preschooler clothing group (high-involvement group, low-involvement group). In the low-involvement group, the most significant consumption value of preschooler clothing are economic value, convenient value, social value in order of importance; though in the high-involvement group, aesthetic value, social value, economic value in order of importance. Also the brand royalty was more affected by the purchasing satisfaction in the high-involvement group than in the low-involvement group. In conclusion, the relations of consumption value of preschooler clothing with purchasing satisfaction, company brand loyalty, involvement of preschooler clothing was established in study. The significances of this study is to provide the market segmentation strategy depending on the characteristics of preschooler clothing consumers and establish the information and direction to increase the company brand royalty and purchasing satisfaction.

• Journal of Climate Change Research
• /
• v.9 no.3
• /
• pp.245-251
• /
• 2018

Creating Shared Value (CSV) is a new business paradigm in which enterprises benefit from social works. The goal of this study is to assess greenhouse gas emission reduction through CSV-related activities of Yuhan-Kimberly (YK) Company. YK Company has planted over 50 million trees between 1984 and 2016 as a part of CSV activities. Through planting of trees, annual $CO_2 $ emission reduction ranged from 196.2 thousand to $336.3\;thousand\;tCO_2-eq$ depending on forest type in 2016, representing 44 million to 84 million KRW. Those results indicate that the company can contribute to reduction of greenhouse gas emissions as well as obtain economic profits through CSV-related activities. Furthermore, this study provides motives for other companies interested in similar CSV projects.

• International Commerce and Information Review
• /
• v.11 no.1
• /
• pp.157-176
• /
• 2009

This study analyzed the information factors which determine cash liquidity in Korean export-oriented companies. In this paper, cash liquidity means the ratio of the value of cash or cash equivalent to the asset value subtracted marketable securities value from total asset value. The empirical test shows that main information factors are the size of company, the growth opportunity of company, the volatility of operating cash flows and free cash flows, the credit yield spread of company, the debt ratio, the turnover ratio of cash flows and free cash flows, and the estimate of bankruptcy that amounts to the inverse number of Z score. In summary, the size of company, debt ratio, turnover ratio of cash flows and free cash flows, and Z-score have negative influence on the cash liquidity of Korean export-oriented companies. but the volatility of operating cash flows affect the cash liquidity positively.

• Journal of Fashion Business
• /
• v.12 no.1
• /
• pp.129-146
• /
• 2008

The purpose of this study is to identify components of CEO image and to examine predictors to affect company's market value. To explore the social construction of the CEO Image depicted in the popular business newspaper, the Wall Street Journal and daily newspaper of Korea, was analyzed. Then, the reconstructed image of the CEO was compared with the firm's stock price change to see their relationship, if any. This paper focused on the case of Carly Fiorina as previous chief of Hewlett-Packard, who was the Fortune's ranking of the 50 most powerful women in business is presented. The period for the analysis was five years and eight months from her inauguration(July, 1999) to the release(February, 2005). The results, four predictors such as nature, management ability, leadership style, appearance character had statistically significant relationship with both company's market value and the image of CEO. In addition to revealed that media coverage of Carly Filoina was commensurate with the financial performance, particularly stock price change of the Hewlett-Packard. In general, the best image of the CEO is highly transcends to the image of the company as well. Therefore it is need to manage effectively components of CEO image to enhance brand image and its brand value, which are further expected to enhance company's market value.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.423-431
• /
• 2021

This study aims to examine the effect of liquidity, activity, leverage, and profitability on firm value, as well as the effect of disclosure of corporate social responsibility (CSR), which in this study is a moderator and company size as a control variable. The sampling technique used in this study is a purposive sampling method with certain criteria, to obtain a sample of 22 LQ45 index companies listed on the Indonesia Stock Exchange in 2014-2019. The data analysis method in this study used was the Multiple Linear Regression Analysis with the SPSS 18 Program. The results show that the ratios of liquidity, activity, leverage, and profitability are significant to firm value in accordance with the initial hypothesis of the study. Corporate Social Responsibility (CSR) plays a role as a moderating variable and company size variable as a control variable on the effect of financial ratios (liquidity, activity, leverage, and profitability) on firm value. The implication of this research is that CSR has a very important role in increasing company value. To attract more investors, companies must pay attention not only to financial performance but also to social performance. Large-scale companies tend to do more CSR so that the company value will increase.