• Clean Technology
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• v.28 no.2
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• pp.193-200
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• 2022

The term environmental, social and governance (ESG) was first used in the 2003 United Nations Environmental Programme Finance Initiative (UNEP FI). Among the three areas of ESG, environment refers to the impact of companies on the environment. Environmental factors address climate change policies and attempts to reduce emissions, waste and natural resource consumption. Social factors refer to the direction in which a company can improve the social impact of stakeholder includes employees, customers, communities, and governments involved in direct or indirect interaction with the organization itself and the company. Governance factors refer to stakeholders who make major decisions, the composition of the board of directors, their diversity and independence, and the internal policies that set limits and expectations for decision-making. Research related to ESG management is part of corporate social responsibility, sustainability, corporate or financial performance, and social responsibility investment. Through case studies and data-based empirical studies, it was confirmed that ESG management companies had positive results for most of the ESG related fields. Through literature analysis of domestic and international ESG history, introduction background, and management performance, this paper presents theoretical, practical implications by confirming that ESG's introduction and operation strategies are strong competitive strategies that directly affect corporate growth by creating attractive factors.

• Journal of Intelligence and Information Systems
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• v.26 no.3
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• pp.51-69
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• 2020

Now, it is a stylized fact that a small number of technology firms such as Apple, Alphabet, Microsoft, Amazon, Facebook and a few others have become larger and dominant players in an industry. Coupled with the rise of these leading firms, we have also observed that a large number of young firms have become an acquisition target in their early IPO stages. This indeed results in a sharp decline in the number of new entries in public exchanges although a series of policy reforms have been promulgated to foster competition through an increase in new entries. Given the observed industry trend in recent decades, a number of studies have reported increased concentration in most developed countries. However, it is less understood as to what caused an increase in industry concentration. In this paper, we uncover the mechanisms by which industries have become concentrated over the last decades by tracing the changes in industry concentration associated with a firm's status change in its early IPO stages. To this end, we put emphasis on the case in which firms are acquired shortly after they went public. Especially, with the transition to digital-based economies, it is imperative for incumbent firms to adapt and keep pace with new ICT and related intelligent systems. For instance, after the acquisition of a young firm equipped with AI-based solutions, an incumbent firm may better respond to a change in customer taste and preference by integrating acquired AI solutions and analytics skills into multiple business processes. Accordingly, it is not unusual for young ICT firms become an attractive acquisition target. To examine the role of M&As involved with young firms in reshaping the level of industry concentration, we identify a firm's status in early post-IPO stages over the sample periods spanning from 1990 to 2016 as follows: i) being delisted, ii) being standalone firms and iii) being acquired. According to our analysis, firms that have conducted IPO since 2000s have been acquired by incumbent firms at a relatively quicker time than those that did IPO in previous generations. We also show a greater acquisition rate for IPO firms in the ICT sector compared with their counterparts in other sectors. Our results based on multinomial logit models suggest that a large number of IPO firms have been acquired in their early post-IPO lives despite their financial soundness. Specifically, we show that IPO firms are likely to be acquired rather than be delisted due to financial distress in early IPO stages when they are more profitable, more mature or less leveraged. For those IPO firms with venture capital backup have also become an acquisition target more frequently. As a larger number of firms are acquired shortly after their IPO, our results show increased concentration. While providing limited evidence on the impact of large incumbent firms in explaining the change in industry concentration, our results show that the large firms' effect on industry concentration are pronounced in the ICT sector. This result possibly captures the current trend that a few tech giants such as Alphabet, Apple and Facebook continue to increase their market share. In addition, compared with the acquisitions of non-ICT firms, the concentration impact of IPO firms in early stages becomes larger when ICT firms are acquired as a target. Our study makes new contributions. To our best knowledge, this is one of a few studies that link a firm's post-IPO status to associated changes in industry concentration. Although some studies have addressed concentration issues, their primary focus was on market power or proprietary software. Contrast to earlier studies, we are able to uncover the mechanism by which industries have become concentrated by placing emphasis on M&As involving young IPO firms. Interestingly, the concentration impact of IPO firm acquisitions are magnified when a large incumbent firms are involved as an acquirer. This leads us to infer the underlying reasons as to why industries have become more concentrated with a favor of large firms in recent decades. Overall, our study sheds new light on the literature by providing a plausible explanation as to why industries have become concentrated.

• Proceedings of the Korean Society of Computer Information Conference
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• 2015.07a
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• pp.335-336
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• 2015

현대는 브랜드의 시대이다. 애플 브랜드는 1,453억 달러라는 천문학적인 가치를 가지고 있으며, 코카콜라 브랜드는 수십년에 걸쳐 세계적인 브랜드로 자리매김하고 있다. 이와 같이 글로벌 경쟁 시대에는 브랜드가 기업의 생존을 좌우한다. 기업의 경쟁력은 인지도가 높은 파워 브랜드를 얼마나 많이 가졌는가에 따라 판가름나고 있다. 소비자의 마음을 사로잡는 강력한 브랜드는 기업의 수익 창출을 보장하는 소중한 자산이다. 시장을 지배하는 강력한 브랜드를 육성하는 것은 이제 모든 기업의 미래를 좌우할 정도로 중요한 핵심 과제가 되고 있다. 본 논문에서는 이와같은 브랜드 가치를 디자인이라는 관점에서 보다 효율적으로 생성하고 관리할 수 있는 브랜드 경영을 위한 웹 기반의 컨설팅 서비스를 제안한다.

• Journal of Distribution Research
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• v.11 no.1
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• pp.69-97
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• 2006

This research aimed to establish and test a empirical model for antecedents and consequences of manufacturer's degree of channel concentration in multiple channels from strategic perspective. For this purpose, I suggested new concept of channel concentration based on related literature review and developed the measurement index of channel concentration. Second, I examined and applied the transaction cost theory and market power theory to provide broad understanding of multiple channel structure and to explain it. Finally, I present the theoretical and managerial implications to the firms that build up channel strategy under multiple channel contexts on this research results. For the purpose of these goals, eight hypotheses were drawn from the previous researches. To verify these hypotheses, 248 data were collected as samples, and the data were tested by reliability test, factor analysis, and covariance structure analysis. Empirical findings strongly support that strategic management of distribution channel especially are important in multiple channels. The overall implications to researchers and practitioners are presented, and limits and further study direction were discussed as a final.

• Journal of Digital Convergence
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• v.10 no.8
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• pp.21-28
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• 2012

The study aims to explore industrial and firms' strategic factors affecting diffusion of digital convergence by studying major global IPTV markets. Market and firm variables are selected using the Industrial Organization's SCP approach. Data for the variables are collected from global 31 IPTV operators representing 20 countries. The analysis indicates that the penetration of broadband Internet and the market share of a dominant player in the Pay TV positively affect the penetration of the IPTV service, whereas the penetration of Pay TV, ARPU, firms' strategy and resource do not have influence on its penetration. The study is the cross-country analysis and contributes to the media study by exploring the relationship between market variables and the development of convergent media. Consequently, the study is expected to help policy makers tailor their digital policy for local environment.

• Korea lubricating oil industries association bulletin
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• no.18
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• pp.12-22
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• 1986

국내정유산업의 후방부문인 윤활유사업은 산업의 발전과 함께 국내 진출, 다국적석유기업에 의하여 원료 및 첨가제의 공급에 의한 단순생산과 마아케팅을 하여 국내시장을 지배하여 왔다. 또한 중화학공업의 발달과 함께 산업기계에 요구되는 윤활유제품도 다양화와 품질고급화로 시장구조가 점점 변화되고 있다. 국내윤활유총생산량중 65$\%$의 시장을 가지고 있는 고급윤활유시장은 4개 제조회사에 의하여 96$\%$의 시장을 유지하고 있다. 각 제조회사의 시장확대정책에 의하여 각대리점에 대한 유통경로의 관리가 중요 마아케팅전략음 되고 있는 실정이다. 제조회사의 대형 소비자에 대한 직매, 직영대리점, 일반대리점에 대한 유통기구중 많은 판매비중을 차지하고 있는 일반대리점에 대하여 4P를 기준하여 대리점측 입장에서 마아케팅 믹스를 분석하였다. 제조회사가 판매대리점에 취하는 마아케팅 전략중 직접적인 방법과 간접적인 방법이 시장관리에 나타나는 갈등정도를 가설로 설문지를 작성하여 6월 10일부터 6월 19일까지 경인지역은 조사원에 의한 직접방문과 지방은 등기우편에 의하여 50개 일반대리점에 송부하여 60$\%$의 회수율을 보였다. 응답자료를 통하여 제조회사의 직접적인 시장관리방법과 간접적인 시장관리방법을 사용시 일반대리점에 대한 갈등해소 정도를 상관분석을 통한 통계처리를 하였다. 본 연구결과는 다음과 같은 사실을 얻을수 있었다. 제조회사가 일반대리점에 실시하는 직접적 또는 간접적인 시장관리는 일반대리점에 대하여 갈등해소에 커다란 작용을 하지 못한다. 따라서 제조회사는 유통경로에 대한 전략을 첫째, 일반대리점과 직영대리점과의 시장에 대한 마찰해소 둘때, 대리점에 대한 안정적인 판매이윤제공 셋째, 계획적인 판매대리점간 시장경쟁조정 넷째, R & D 투자강화로 제조회사 차원에서 공동으로 산학협동하여 첨가제 및 상표의 국내개발을 이루어 제품가격인하로 장기적인 시장개발이 요청된다는 결론을 얻었다.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.4
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• pp.509-526
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• 2008

This paper aims to examine the evolutionary dynamics of the Korea's footwear industry by adopting evolutionary perspectives. To explain the evolutionary dynamics of an industry, evolutionary perspectives have paid a particular attention to exploring a variety of factors for influencing the evolution of the industry, such as the selection and imitation of the firm, the mechanism of firm's entry and exit, technological characteristics and innovation processes. The majority of existing research tend to explain that the decline of the Korea's footwear industry since 1990 was mostly due to the rapid rising of wage and the structural changes in labor-intensive industries. On the contrary, this paper attempts to explain the decline of the Korea's footwear industry, in terms of the path of selection and imitation, the dominant technological paradigm, regulatory frameworks and the meso trajectory of industry evolution. This paper concludes that the decline of the Korea's footwear industry since 1990 was appeared as a result of the evolutionary selection processes of the firms in order to adapt to changes in the environment of competition and the regime of market selection in the global footwear industry.

• Proceedings of the Korean Statistical Society Conference
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• 2001.11a
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• pp.199-204
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• 2001

1997년 IMF 경제위기 이후 우리나라의 금융산업은 급격한 변화를 겪고 있다. 지난 4년간 은행들을 비롯한 금융기관들이 대형화를 통한 경쟁력 강화를 위해 합병이 실시되었다. 은행합병의 궁극적인 목적은 합병에 의해 규모를 대형화하고 업무범위를 다양화하여 수익규모를 증대시키고 수익원을 다원화하는 한편, 경영자원의 투입과 활용을 효율화하고 시장지배력을 확충하여 경영성과를 제고함으로써 기업가치를 증진시키는데 있다고 할 수 있다. 본 연구에서는 1997년 이후에 본격적으로 이루어진 합병은행들을 대상으로 맘퀴스트 ${\ulcorner}$Malmquist${\lrcorner}$ 총요소생산성(Total Factor Productivity) 지수를 사용하여 그 성과를 측정해 보았다.

• Korean journal of communication and information
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• v.62
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• pp.119-139
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• 2013

Star is riddled with myth while they form the star power and support advertisers for profit realization. Their influence on society and audiences grows day by day. In particular, advertisers depend on star power when they sell their products. This article analyzed the nature of the star power dominating media resources and offering the distorted picture of consumer culture. I take a political economic view of consumer capitalism and star. The article shows how stars contribute to the accumulation of capital and defense of class relations in the consumer culture.

• Management & Information Systems Review
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• v.38 no.3
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• pp.187-210
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• 2019

Companies shall hold social responsibility as a member of the social community. Corporate social responsibility uses corporate resources, yet it plays important roles in reducing social imbalance. Their responsibilities are highly associated with the corporate sustainability. Many earlier studies on the association between corporate social responsibility and corporate sustainability have been attempted. Yet it should be mentioned that they do not show a variety of realities as linearity between dependent variables and independent variables were assumed. Thus, this study aims to analyze Markov blanket, a node of minimum descriptive variables that relieve a rigid assumption among variables and affect corporate sustainability by using Bayesian network. Sensitivity analysis was used to elicit how other variables affect by reflecting the complex reality when real factors are changed. As an important result of this study, the firm's future earnings sustainability is naturally related to operating earnings, and as the corporate governance structure is sound, the firm is able to steadily fulfill its social responsibility. However, the fact that the size of a company is large does not mean that it is in good compliance with corporate laws. This would not be unrelated to the fact that many of today's companies are not complying with the law and are suffering social condemnation. Results from this study will serve as a useful analytic tool when investors and creditors showing interests in corporate sustainability for assessing the value of companies and making investment decisions. Moreover, they can be used as references for relevant agency supervising capital markets to establish or improve appropriate institutions aimed at improving corporate sustainability.