Environmental, Social, and Governance (ESG) management may be one of the recent hot topics in corporate management. The purpose of this paper was to study the level of ESG activities of shipping companies. The shipping industry is known to have low transparency and low favorability (Yun, 2022). This study determined whether ESG activities of shipping companies known to the public or studied qualitatively were consistent with objective facts through quantitative analysis. Analysis was conducted on 8,009 firm-year KOSP I listed companies from 2010 to 2022 using ESG ratings evaluated and published by KCGS. As a result of the analysis, it was found that shipping companies had a lower level of ESG activities than non-shipping companies. Although many research studies have been done on companies' ESG activities, research on corporate social responsibility activities and ESG activities of domestic shipping companies is limited. This paper is significant in that it is the first study to quantitatively analyze ESG management status of domestic shipping companies. Shipping companies should make efforts to improve their images, improve their business performances, and increase corporate sustainability by taking the lead in proactive ESG activities rather than performing passive ESG activities due to external regulations such as IMO 2020 and IMO 2050.
The KPI of the four perspectives in BSC need to modify because of the change of management environment. In particular, the KPI of the financial perspective needs to modify necessarily. The KPI of financial perspective has been consisted of short-term measures: net profit current year, operating profit, ROE, ROIC, and EVA. But this financial indicators cannot afford to represent essential corporate sustainability management in the change of management environment. So this study suggests CSV(Creating Shared Value) as an additional KPI of financial perspective. And this study investigates whether CSV represents business performance as the additional KPI in BSC adoption firms. To verify a hypothesis, the sample includes listed firms announcing CSR index publicly between 2005 and 2010. The results of this study are summarized as follows. The high CSV firms is higher on the value relevance of firm in comparison with low CSV firms. Moreover, The firm value of BSC adoption firms is lower than otherwise, but it is insignificant. Limitation of Our study is that we have no choice but to use dummy variable. Because it is a material question as CSV measurement. Nevertheless, contribution of our study is to suggest new KPI of BSC perspective to meet management environment.
Purpose - This study examined the Italian eyeglass industry and the status of the franchise market. Luxottica's global growth strategy was analyzed to provide insight into the strategy and development of the Italian eyeglass industry and its franchise business. Research design, data, methodology - Luxottica's annual report, public media material, and website were examined, in addition to data from professional institutions. For the domestic eyeglass industry and franchise business, data from professional organizations, franchise information disclosure documents of the Fair Trading Commission, media materials, and related papers were investigated. Results - The success factor turned out to be securing a global wholesaler with retailers in overseas markets. This successful strategy was based on the strong entrepreneurial spirit of the founder, innovative craftsmanship, and an excellent corporate culture including corporate social responsibility (CSR). Conclusions - Considering the current environment, for Luxottica to be a leading global company, it had to review and adopt a successful vertical integration strategy, from R&D to distribution, M&A of overseas wholesalers and retailers, creative design and technical development, and sustainable cultural development
Global fast fashion brands have been popular and most of them have entered the Korean market. With their success, Korean apparel companies launched domestic fast fashion brands; however, recently they have become fiercely competitive, and consumers are demanding better design and quality and cheaper prices than before. The purpose of this study is to explore consumer purchasing behavior of the global as well as domestic fast fashion brands sold in Korea and to suggest marketing strategies for the brands sold in Korea. The study includes interviewing 61 Korean consumers to ask about their purchasing behavior and experiences. This study found four themes from these in-depth interviews: 1) demand of product glocalization which considers both globalization and localization for better style, quality, and assortment plan, 2) satisfaction with the reasonable price range of fast fashion brands but dissatisfaction with price discrimination among countries, 3) importance of easy, comfortable, and convenient accessibility to fast fashion brands, and 4) preference for good brand reputation related to corporate social responsibility(CSR) and nationality. From these four themes, this study developed the four elements of the marketing mix: product, price, accessibility, and reputation to adapt to a new marketing environment that emphasizes the development of information technology, consumer-centric marketing, and corporate ethics. The findings of this research could contribute useful information to both global and domestic fashion companies as well as consumers.
Corporate ESG performance (environmental, social, and corporate governance) reflecting a company's strategic sustainability has emerged as one of the main factors in today's investment decisions. The traditional ESG performance rating process is largely performed in a qualitative and subjective manner based on the institution-specific criteria, entailing limitations in reliability, predictability, and timeliness when making investment decisions. This study attempted to predict the corporate ESG rating through automated machine learning based on quantitative and disclosed corporate financial information. Using 12 types (21,360 cases) of market-disclosed financial information and 1,780 ESG measures available through the Korea Institute of Corporate Governance and Sustainability during 2019 to 2021, we suggested a deep neural network prediction model. Our model yielded about 86% of accurate classification performance in predicting ESG rating, showing better performance than other comparative models. This study contributed the literature in a way that the model achieved relatively accurate ESG rating predictions through an automated process using quantitative and publicly available corporate financial information. In terms of practical implications, the general investors can benefit from the prediction accuracy and time efficiency of our proposed model with nominal cost. In addition, this study can be expanded by accumulating more Korean and international data and by developing a more robust and complex model in the future.
This empirical study attempted to investigate the effects of the CEO's transformational leadership on the organizational members' innovative behavior/organizational citizenship behavior, CSR and employees' acceptance of organizational change in the ICT industry. For this study, we conducted an online survey with the employees of businesses that belonged to the ICT industries and received 417 valid responses. The analysis results by SPSS & AMOS are as follows. CEO's transformational leadership had a significantly positive impact on the members' self-efficacy. The members' self-efficacy not only had a positive impact on their own innovative behavior/organizational citizenship behavior, but also had a mediating effects in the relationship between CEO's transformational leadership and the members's innovative behavior/organizational citizenship behavior. Also corporate social responsibility management had a moderating roles in the relationship between CEO's transformational leadership and the members' self-efficacy.
As Multi-National Enterprises expanded their investments to foreign countries, numerous controversies and disputes arose from their negative impacts, such as violations of human rights and damage to the environment of the host countries. In response, International Organizations such as the OECD have considered various ways to prevent these negative impacts and search for more efficient dispute resolution methods. It is recognized that the OECD Guideline is one of the tools they created for this purpose. The OECD Guideline is contrastable from Corporate Social Responsibility (CSR) initiatives which are regarded as a corporation's charity activities apart from their core business functions. However, Responsible Business Conduct (RBC) like the OECD Guideline can be understood as a concept moving forward from CSR, due to its requirements that corporations carry out their duties in a responsible manner within the field of their core business, such as tax, global supply chain or consumer protection. RBC which is binding in nature, has even been implemented through legislation in developed countries such as the USA, France, Switzerland, and the UK. The discussion in Korea, however, has not reached that level. Discussions for legislation center singularly on CSR efforts, with a dialogue only recently forming around the topic of legislation concerning RBC. Small and medium sized enterprises (SMEs) who lack certain financial and other resources to adequately develop RBC initiatives may find this more obstacles to implementation through legislated RBC, than if it were presented in Korea through other means. It's necessary to admit that RBC is a critical issue in international business. However, time is required to consider its application directly to SMEs.
Chun, Seungwoo;Yoo, Changjo;Lee, Sukekyu;Lee, Seon Min
Asia Marketing Journal
/
v.14
no.3
/
pp.153-167
/
2012
KB Kookmin Card has separated as an independent corporation from KB Kookmin Bank Credit Card Business Group on March, 2011. Ever since, KB Kookmin Card worked to build its own brand identity. The strategic preparation and conscientious implementations made KB Kookmin Card position in consumer's mind with a strong and unique brand image. Its new brand image was rooted in the inherited strengths of reliable and sincere image. However, it faced the challenge to compete in credit card industry in which most competitors had an advanced and sophisticated image. The strengths of KB Kookmin Card were also at the same time their limitations. KB Kookmin Card took a strategy that strengthened the strengths and improved the weaknesses. It focused on the core competence of being a people's sincere life supporter that helps people make savings from everyday events to make a good sum rather than being a lump sum benefit. The brand introduction strategy was implemented in 2011. The implementation focused on the activities that made internal as well as external customers be aware of the brand. Communication programs using a variety of media were executed to attain this goal. In 2012, second phase communication programs were introduced to elaborate the newly established brand image. It introduced many extended products as well as accessory programs which targeted the segments. Also, various CSR activities in many social domains helped consumers and the public to consider KB Kookmin Card an authentic, caring, trustworthy, and consistently-developing supporter in their everyday lives.
Kim, Jae-Hyun;Chang, Chu-Youn;Tae, Yoo-Lee;Kim, Hae-Chang
Journal of Korean Society of Forest Science
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v.99
no.6
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pp.816-826
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2010
The purpose of this study is to investigate the types and processes of corporate philanthropy programs on forestry in Korea 500 largest companies. The result shows that 75 companies of Korea 500 companies (15.0%) participated in corporate philanthropy program related to forestry and there are 113 programs that those companies are proceeding. The types of 108 programs can be divided into 5 parts; 1) volunteer work, 2) creating forests & management, 3) one-time planting work, 4) forest education, 5) training experts & job creation. Among them, volunteer work (55.6%) and creating forests & management (29.6%) showed high proportion. The process of programs depends on their types. The volunteer and one-time planting work were mainly proceeded directly by corporate volunteer organization. But creating forests & management, forest education and training experts & job creation were usually proceeded in consort with local governments, NPOs and NGOs, and so on. These results show that Korean corporate philanthropy in forestry is progressing to strategic philanthropy through participation and partnership of various social groups. This shows the possibility to progress corporate community investment (CCI) with forest education and training experts & job creation.
Park, Kyung-Seok;Lee, Seong-Youn;Choi, Soo-Im;Kim, Hyun-Sik;Jeong, Se-Myong;An, Ki-Wan
Journal of Korean Society of Forest Science
/
v.99
no.3
/
pp.380-390
/
2010
This research was conducted to investigate the consciousness of demander on National Forest Management System and to seek for solution to activate it by measuring the variables such as the extent of goal achievement on the system, the extent of importance on function of national forest, benefit for participation of the system, and the extent of importance on the system as well as the extent of demander recognition and intention of participation on the system like, Cooperative Forest Program and People's Forest Program. The target of this investigation is to categorize consumers of National Forest Management System (NFMS) into four types such as environmental organization that do not participate in the system, environmental organization that participate in the team, company to publish a white paper on environmental and local government. As a result, the intention of participation was showed in C Type (62.7%), among fields that respondents interested in participation were tree planting and forest tending (56.2%). However, the rest of the participants were reluctant participate in the NFMS due to more benefit (72.2%) of corporate social responsibility from other fields than those from the field utilizing forestry. If only, diverse facilities related to national forest and active supporting policy are provided by Korea Forest Service, social participation using forest resources would be considered. Although 61% among A Type recognized NFMS in advance, the prime reason for not utilizing are the problems with reserving place for participates in and the inconvenience to participate in on-site. Type D shows slightly high interest in People's Forest Program (3.69). Also, it shows high interest in Forest Recreation (4.15) and Forest Reports (3.90). Particularly, it indicates that GyeongGi-Do and GangWon-Do local government prefers Forest Experience, and Cheolla, ChungCheong and GyeongSang local government prefer Forest Reports. Based on the above study, we finally suggest that legal alignment of the system, and the provision of incentive for inducement of voluntary participation by Corporate Social Responsibility (CSR), and establishment of new exclusive nongovernmental organization be able to operate the system as the solution to activate NFMS in terms of the consumer.
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