• Journal of Korea Society of Industrial Information Systems
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• v.28 no.6
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• pp.173-187
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• 2023

This study aims to determine whether ESG performance positively affects foreign ownership for listed firms that publish sustainability reports. Furthermore, we test whether the disclosure of environmental information in the sustainability report in accordance with the TCFD recommendations moderates the relationship between ESG performance and foreign ownership. The results of the empirical analysis are as follows. First, there is a positive correlation between ESG performance in a given year and foreign ownership in the following year, i.e., the higher a firm's ESG performance, the higher its foreign ownership. Second, the presence of environmental disclosure in accordance with the TCFD recommendations positively moderates the relationship between ESG performance and foreign ownership, i.e., environmental disclosure in accordance with the TCFD recommendations strengthens the positive relationship between ESG performance and foreign ownership. In conclusion, this study shows that foreign investors invest more in companies with better ESG performance, and the effect is stronger for companies that disclose environmental information in accordance with TCFD recommendations.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.30 no.3
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• pp.92-108
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• 2022

This study aims to intensively analyze the effect of ESG activities on the Business performance focused on Korean national flag carrier. The purpose of this study is to provide ESG activities to promote the sustainable development of Korean national flag carriers by verifying the impact of ESG on airline's business performance through mediate variables within the airline industry in consideration of the value and importance of ESG. A survey is conducted with a total of 272 users of Korea's national flag carrier both Korean air and Asiana airline. The collected data is analyzed using a structural equation model. The results show that ESG management has an indirect positive effect on business performance. It is expected that the results of this study may be employed as fundamental data to emphasize the relative importance of an ESG activities, thereby enhancing the Korean national flag carrier's business management and eliciting a positive impact on sustainable growth.

• Journal of Venture Innovation
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• v.6 no.2
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• pp.41-65
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• 2023

This study was conducted to empirically analyse the factors that influence SMEs' intention to adopt ESG. For this purpose, we first derived the variables of usefulness of ESG and ease of adoption. In addition, we adopted CEO's will because of the importance of CEO's role in decision-making in SMEs. In addition, we added customer's request, government support, and credit evaluation reflection as institutional factors for ESG management. To examine the mediating role of attitudes and employees' innovation resistance in these relationships and how they affect ESG adoption, we set up a research model. These factors were used in the empirical analysis with 368 valid responses from the survey. Hierarchical regression analysis method using SPSS 24.0 was used for statistical analysis, and Process Macro 4.0 based on SPSS 24 was used for mediation and moderation effects. The results of the empirical analysis of this study showed that the usefulness of ESG adoption, ease of adoption, CEO's will, customer's request, government support, and credit evaluation reflection all had a positive and significant effect on the intention to adopt ESG management. In particular, among the variables affecting ESG adoption, CEO's will was found to be the most influential. Attitudes were also found to play a mediating role between the influencing factors and intention to adopt ESG management, as well as the mediating effect of employee' innovation resistance. The academic implications of this study include the identification and empirical testing of each of the influencing variables of ESG management adoption in the scarce literature on ESG in SMEs, and the prioritisation of the influence of these factors on adoption intention, which can be used to promote the adoption of ESG management. In terms of practical implications, it is important for SMEs to have a win-win relationship with large corporations, an ecosystem such as government support, in order to improve CEO awareness and motivate the CEO's will, and for smooth introduction of ESG management, it is necessary to find ways to reduce resistance through sufficient communication with organizational members to make them aware of the need.

• Journal of Digital Convergence
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• v.20 no.1
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• pp.119-127
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• 2022

In order to analyze the effect of strengthening the disclosure of remuneration for high-paid workers among the measures to improve the governance structure of financial companies by the Financial Services Commission in 2018, this study demonstrated the compensation system, management performance, and improvement of governance for Korean financial companies from 2015 to 2020. Analysis was performed. As a result of the empirical analysis, it was found that financial companies after 2018 decreased the employee compensation disparity and the majority shareholding ratio, while the stock performance and foreign ownership ratio increased. This study has the greatest contribution in that it is the first domestic study to verify the effect of applying the so-called Say on Pay, which discloses management's remuneration and allows shareholders to check its appropriateness through voting.