• Korean Management Science Review
• /
• v.32 no.1
• /
• pp.113-131
• /
• 2015

We examine the relationship between firms' environmental (E), social (S), and governance (G) factors, with their financial performance in order to provide an empirical rationale for CSV (creating shared value) pursuing both of firms' profitability and CSR (corporate social responsibility). The financial performance is classified into four aspects such as profitability, stability, efficiency, and cash-flow, and each of these aspects is measured by two financial ratios respectively. To measure the firms' ESG performance, we employ the published performance grades by the Korea Corporate Governance Service for a three year span, from 2011 to 2013. Total of eight regression analyses are performed. The results show that firms' non-financial performance in general has statistically significant positive relationships with return on assets, return on net sales, and cash-flow from operating activities ratio, while it has negative relationships with net working capital ratio, asset turnover ratio, and cash-flow from investing activities ratio. It has no significant relationships with debt ratio and equity turnover ratio. The results imply that firms' non-financial performance may have a negative impact on some financial performance such as liquidity and efficiency in a short term, but it would eventually improve the firms' profitability and cash-generating ability, which provides an empirical evidence for the concept of CSV, and motivates the firms to participate in social contribution activities without sacrificing their profitability for their respective sustainablity management.

• Journal of the Architectural Institute of Korea Planning & Design
• /
• v.34 no.10
• /
• pp.131-142
• /
• 2018

Being dealt in Alfred Weber's Theory of the location of Industries, a lot of economic benefits can be obtained through aggregation and clustering of industrial facilities, which derived to the development of industrial complexes in Korea. However, with the IMF economic crisis as well as various institutional changes, the framework of aggregation and clustering of industries is broken, which led to individual developments that took place without any consideration of surrounding industries. For reformation of these condition of industrial complexes, national government-led regeneration projects are being carried out currently. However, national government-led projects mainly focus on profitable projects such as officetel and hotel that are irrelevant to exist composition of industrial complexes which is usually manufacturing base industries and are unable to solve the fundamental problems of industrial complexes. Thus, a necessity of industry clustering is deduced through case analysis of actual private-led manufacturing industry cluster with governance and analysis of benefits on financial, spatial and environmental aspects. In addition, implications on the necessity follow base on factorial analysis on the benefit of clustering development than individual development as well as analysis on the measures taken for successful clustering.

• Journal of Environmental Impact Assessment
• /
• v.23 no.1
• /
• pp.51-65
• /
• 2014

ODA projects such as multi-purpose dam, industrial complex, road construction etc. have resulted in environmental damage and resident relocation including destruction of site of living. Even the grandiose developments as ODA projects have made clear the value clashes between development and environmental conservation, and have brought about conflicts between public interests and public environmental right, and the discordance between public interests and private property rights in the recipient country. This study summarizes and analyses the Korea's ODA projects and will suggest the public participation and governance system based on Saemaul Movement, Strategic Environmental Assessment and Environmental Impact Assessment based on the guideline of OECD DAC, and emphasize Strategic Environmental Assessment and Social Impact Assessment in the procedure of ODA projects. In the future the ODA project should be implemented for the overcome of poverty and response to climate change based on the experience and trial and errors of Korea's compact growth and past ODA projects.

• Journal of Environmental Science International
• /
• v.13 no.5
• /
• pp.441-448
• /
• 2004

The purpose of this research was to investigate and analyse the internal structural organisation of UK's urban fringe management initiatives and its roles. Caerphilly Mountain Countryside Service and Thames Chase Community Forest Initiatives were investigated. The Caerphilly Mountain Countryside Service Initiative operates through a tiered structure consisting of the Caerphilly Mountain Joint Committee, the Officers' Working Party, and the management team. The Thames Chase Community Forest Initiative is operated through a tiered structure comprising the Thames Chase Joint Committee and the management team. Although the role of each management initiative is invested differently in certain internal organisational bodies, such as the governance body and the management body, what is common to all the urban fringe management initiatives is that the governance body within each management initiative tries to speak with one voice to bring about an effective operation process, and the management team employs a variety of devices to secure the enrolment of a variety of interest groups in its operational processes.

• Journal of Environmental Health Sciences
• /
• v.45 no.4
• /
• pp.295-309
• /
• 2019

Eight years have passed since the Korean government's medical agency officially reported that the fatal lung disease found in some hospitals in 2011 was caused by chemical disinfectants used in household humidifiers, marking the introduction of the humidifier disinfectant disaster. Over the past eight years, a medical-scientific approach has been taken by the Korean government in its efforts to solve the problems in terms of relief of and compensation for the potential victims. One of the unintended consequence of this approach has been the fact that the number of "official victims" recognized by the government is quite small compared to the total number of applicants who claim to be suffering from the humidifier disinfectant disaster. This is mainly due to the fact that the medical-scientific approach relies on excessively strict, rigid, and narrow medical-scientific criteria provided by medical experts for judging the degree of applicants' bodily damage from the use of humidifier disinfectants. As a result, this medical-scientific approach is becoming increasingly criticized by patients' organizations mainly composed of rejected applicants. Based on the analysis of the limits of this medical-scientific approach and after clarifying the social implications of the disaster from a sociological perspective, this paper proposes certain social approaches focused on participatory governance as a means of dealing with the current issue. Finally, the paper emphasizes that the act of taking social responses to the humidifier disinfectant disaster should also be considered a process of enlarging and deepening democracy in Korea.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.9
• /
• pp.229-239
• /
• 2022

The primary objective of the current study is to ascertain the effect of transparency and disclosure (T&D) on the value of banks operating in the Indian banking sector. It also includes finding the moderating impact of financial distress (FD) and environmental, social, and governance (ESG) on the association between T&D and the valuation of banks. The study employs Panel data analysis (PDA) to analyze data and produce novel results thereafter. The authors of the study have considered using data of secondary nature which is sourced from banks operating in the Indian banking industry. Data in the current study has been considered for ten financial years, i.e., 2010 to 2019. The results reveal that T&D positively impacts a firm's valuation. We have also found evidence that financial distress and ESG (Environmental, Social, and Governance) significantly impact the value of firms under the influence of T&D. As far as we are aware, no study of this kind has been done yet in any developing nation to determine the effect that T&D, FD, and ESG have on the value of Indian banks. This paper can help future researchers in their respective studies that will involve the study variables (FD, T&D, and ESG).

• The Research Journal of the Costume Culture
• /
• v.30 no.1
• /
• pp.102-120
• /
• 2022

With the growing importance of ESG as a must-have business strategy, this study attempted to analyze the current state of ESG practices in the Korean fashion businesses. The ESG cases of fashion business were collected from news articles searched on the largest Korean internet portal by November 2021 from October 2020 when the number of articles began to increase meaningfully. Three hundred ninety one ESG cases of 112 fashion manufacturing brands and 332 ESG cases of 49 retail brands were analyzed. Casual and outdoor/sportswear brands among fashion manufacturers were most active in ESG practices, and various online and offline retailers were practicing ESG. Approximately one-third of the fashion brands were positioned as eco-friendly concept. While environmental practices were the most practiced ESG, governance was the least practiced. Among environmental practices, fashion manufacturing businesses were most active in eco-friendly product development, while retail businesses were in eco-friendly campaign-event-service and eco-friendly packaging. The most active social practice was the contribution to communities, followed by retail businesses' sharing growth with partner businesses. Governance practices were focused on the structure and operation of the board. Various ESG collaborations with various partners were also observed. The research result is meaningful verifying and diagnosing the ESG practices of the Korean fashion businesses.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.26 no.1
• /
• pp.99-109
• /
• 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.

• Korean Journal of Organic Agriculture
• /
• v.14 no.1
• /
• pp.1-15
• /
• 2006

Asan city has many strengths, for examples, the distinction of innovation ability, several places with clean environmental resources, conventional-cultural resources and favorable conditions of location in regional agriculture development. But it has not devised the comprehensive development plan for regional agriculture that is integrating natural, cultural and industrial resources. So the plan linked with those resources should be to promoted to develop agricultural production, marketing and regional economy. And a development strategy is to have the system of agricultural independence within Asan. Namely, originality, identity and cooperative spirit in economic and social-cultural aspects of Asan agriculture are needed, which are a great help to settle agricultural issues in Asan itself And the governance system needs to be introduced that has the main bodies of Asan agriculture, so as to promote agricultural policy.

• International Journal of Advanced Culture Technology
• /
• v.11 no.3
• /
• pp.33-38
• /
• 2023

This study examined the influence of ESG performance on the firm value of Chinese equipment manufacturing companies over the period from 2011 to 2020. The analysis indicated that while ESG performance exerted a negative influence on firm value, this impact was not statistically significant. These findings substantiate the Institutional Difference Hypothesis (IDH), which posits that country-specfic institutional variations sifnificantly shape the strategic decision-making of organizations. When disaggregating the three components of ESG, variations in the results were observed both for overall ESG performance and for each individual dimension. Of the three dimension elements, the environmental (E) and governance (G) facets had a negative bearing, whereas the social (S) facet had a positive influence. Notably, only the governance dimension (G) demonstrated a statistically significant influence. These outcomes affirm the institutional difference hypothesis, illustrating divergent results across distint ESG dimensions.