• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5586-5593
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• 2013

This study investigates how the Corporate Social Responsibility (CSR) performance of a firm is associated with its financial performance in the stock market. Prior studies provide mixed evidence on the relation between CSR and financial performance. This study sheds some lights on the positive effect of CSR on firms' financial performance. Using a unique set of data on CSR performance of Korean firms provided by Morgan Stanley Capital International (MCSI), we find that firms' CSR performance is positively associated with their contemporaneous stock returns and Tobin's Q in the Korean market. This finding suggests that stock market participants value firms' CSR activities. This is the first study that provides empirical evidence on the existence of the positive association between the CSR performance of Korean firms and their financial performance using MCSI data which is considered more reliable than the data used in the prior CSR studies in Korea.

• Korean Management Science Review
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• v.32 no.1
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• pp.113-131
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• 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 Korean Society of Industry Convergence
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• v.25 no.2_2
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• pp.199-208
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• 2022

The steel wire or steel bar processing process applied to the manufacture of various bolts and power transmission shafts was improved by applying in-line phosphate film treatment technology. By applying a polymer lubricant for a non-reactive metal forming process and a non-reactive non-phosphorus lubricating coating agent, the film formation for each process time was comparatively analyzed and reviewed. Compared to the nine processes applied previously, the in-line phosphate film treatment technology applied with only two processes has been effectively improved in terms of reduction of treatment time, reduction of facility installation area, prevention of water pollution due to wastewater, and non-use of ozone-depleting substances. In addition, it was found that it can have an important effect on productivity improvement and price competitiveness from the simplification of quality control and process control as well as improvement of the working environment.

• Maritime Security
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• v.3 no.1
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• pp.187-210
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• 2021

In recent years, many countries are committing to environmental conservation. Following this trend, successful policy implementation of SDGs with ESG management extended to the public sector is emerging as a keyword determining the success or failure of the capital market, countries, and individual companies. Accordingly, many countries are implementing various policies related to the environment. One of them is to implement national policies by introducing environmental taxes. These policies use environmental taxes to control pollution by indirectly influencing the behavior of producers or consumers through economic incentives rather than directly interfering with environmental pollution behavior. This study examines the status of environmental taxes in marine tourism sites in Korea, reviews the effectiveness of such policies, and suggests how to improve them by identifying limitations of the current system.

• Journal of Distribution Science
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• v.22 no.5
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• pp.93-104
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• 2024

Purpose: This study used the SORmodel (or cue utilization theory) to examine the impact of expanded quality factorsincluding product quality on customer satisfaction, attitude, and behavioral loyalty. This study examined the moderating effect of gender on the customer satisfaction-attitudinal and behavioral loyalty relationship. Research design, data, and methodology: 364 respondents were collected through an online survey and analyzed using the SmartPLS 4.0 program. Results: The findings show that product quality, along with system quality and service quality, are key determinants of customer satisfaction. In addition, this study shows that the relationship between customer satisfaction and attitudinal loyalty (repurchase and word-of-mouth intention) does not differ depending on gender, but the relationship between customer satisfaction and behavioral loyalty (share-of-visit and share-of-wallet) is stronger for women than for men. Conclusions: This research integrates concepts from environmental psychology and marketing focusing on website quality (information, system, service, and product), as well as satisfaction, attitudinal and behavioral loyalty. Online shopping mall practitioners must systematically analyze and assess the quality of online shopping, a pivotal factor driving customer satisfaction, attitude, and behavioral loyalty. Acknowledging the influence of gender on consumers' online purchasing behavior can aid online retailers in devising tailored e-commerce marketing strategies aimed at attracting and retaining customers.

• The Journal of the Korea Contents Association
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• v.22 no.8
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• pp.149-158
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• 2022

For this study, a total of 297 TV advertisements and digital video advertisements were selected as analysis targets among domestic corporate advertisements executed for two years from 2020 to 2021. As a result of the content analysis, it was found that CSR public service advertisements, CSV advertisements, and ESG advertisements in 2020, when the corona pandemic began in earnest and ESG of companies emerged as a business management topic, showed a markedly higher execution frequency than in 2021. As a result of examining the distribution of corporate advertisement types by media, it was found that companies were executing various corporate advertisements through digital media rather than traditional media such as TV. As a result of examining the advertising appeal strategies according to the types of corporate advertisements, it was found that the emotional appeal strategy was most frequently used among the rational appeal, emotional appeal, and mixed appeal as a whole in corporate advertising. As a result of analyzing the advertisement model types according to the classification of corporate advertisements, it was found that corporate advertisements use a general model differently from brand advertisements. Lastly, as a result of examining the distribution of advertisement model types according to media types, it was found that the celebrity model is more frequently used in TV advertisements for digital advertisements.

• Journal of Venture Innovation
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• v.4 no.2
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• pp.57-75
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• 2021

KHNP's shared growth activities are based on such public good. Reflecting the characteristics of a comprehensive energy company, a high-tech plant company, and a leading company for shared growth, it presents strategies to link performance indicators with its partners and implements various measures. Key tasks include maintaining the nuclear power plant ecosystem, improving management conditions for partner companies, strengthening future capabilities of the nuclear power plant industry, and supporting a virtuous cycle of regional development. This is made by reflecting the specificity of nuclear power generation as much as possible, and is designed to reflect the spirit of shared growth through win-win and cooperation in order to solve the challenges of the times while considering the characteristics as much as possible as possible. KHNP's shared growth activities can be said to be the practice of the spirit of the times(Zeitgeist). The spirit of the times given to us now is that companies should strive for sustainable growth as social air. KHNP has been striving to establish a creative and leading shared growth ecosystem. In particular, considering the positions of partners, it has been promoting continuous system improvement to establish a fair trade culture and deregulation. In addition, it has continuously discovered and implemented new customized support projects that are effective for partner companies and local communities. To this end, efforts have been made for shared growth through organic collaboration with partners and stakeholders. As detailed tasks, it also presents fostering new markets and new industries, maintaining supply chains, and emergency support for COVID-19 to maintain the nuclear power plant ecosystem. This reflects the social public good after the recent COVID-19 incident. In order to improve the management conditions of partner companies, productivity improvement, human resources enhancement, and customized funding are being implemented as detailed tasks. This is a plan to practice win-win growth with partner companies emphasized by corporate social responsibility (CSR) and ISO 26000 while being faithful to the main job. Until now, ESG management has focused on the environmental field to cope with the catastrophe of climate change. According to KHNP is presenting a public enterprise-type model in the environmental field. In order to strengthen the future capabilities of the nuclear power plant industry as a state-of-the-art energy company, it has set tasks to attract investment from partner companies, localization and new technologies R&D, and commercialization of innovative technologies. This is an effort to develop advanced nuclear power plant technology as a concrete practical measure of eco-friendly development. Meanwhile, the EU is preparing a social taxonomy to focus on the social sector, another important axis in ESG management, following the Green Taxonomy, a classification system in the environmental sector. KHNP includes enhancing local vitality, increasing income for the underprivileged, and overcoming the COVID-19 crisis as part of its shared growth activities, which is a representative social taxonomy field. The draft social taxonomy being promoted by the EU was announced in July, and the contents promoted by KHNP are consistent with this, leading the practice of social taxonomy

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.189-199
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• 2021

This study attempts to examine the relationship between corporate social responsibility (CSR) disclosure and earnings management practices in the context of Saudi Arabia after mandatory IFRS adoption. It is carried out on an unbalanced panel of 277 observations over the period 2017-2019. For this purpose, CSR disclosure is measured by Bloomberg ESG scores, while the residuals from the modified Jones model are considered for earnings management. As control variables, we have retained the firm performance, market-to-book ratio, firm size, financial leverage, board independence, ownership concentration, managerial ownership, and lagged discretionary accruals. Using the system GMM estimator in the dynamic panel, the results show a positive association between CSR disclosure and earnings management practices, thus supporting the perspective of agency theory. Managers engage in socially responsible activities beforehand to conceal their wrongdoing and convince stakeholders that the organization is transparent. They probably use ethical codes as a tool to achieve their own goals rather than the firm's goals. Our contribution is the use of recent data (2017-2019) taking into account the mandatory adoption of IFRS in Saudi Arabia. Additionally, to our knowledge, this study is the first to address CSR disclosure and earnings management practices using GMM system estimates.

• Environmental and Resource Economics Review
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• v.31 no.4
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• pp.693-710
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• 2022

Social interest in occupational safety and health is increasing due to ESG management and the implementation of the Serious Accidents Punishment Act. This study examines the current status of occupational accidents, which is the safety level of energy companies, and the impact of occupational accidents on the management performance (sales per capita, operating profit per capita, operating margin per capita) of energy companies over the period of 2015 to 2021 was empirically analyzed. As a result of the analysis, the level of occupational accidents in the 157 energy companies to be analyzed was lower than the occupational injury accident rate in Korea, but the disease rate was high.As a result of analyzing the impact of occupational accidents on management performance, it is estimated that an increase in the occupational accident rate reduces per capita sales, per capita operating profit, and gross margin rate.Through this study, the vulnerability of energy companies to occupational accidents was confirmed, and the direct and indirect costs of occupational accidents quantified the negative impact on management performance.Referring to the results of this study, energy companies should strengthen their efforts to prevent occupational accidents by increasing investment in safety and health to protect the lives of valuable workers and create sustainable business performance.

• International Journal of Advanced Culture Technology
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• v.11 no.1
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• pp.171-180
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• 2023

This study is to develop a performance analysis model for SMEs.Based on similar performance indicators through previous studies, performance indicators for SMEs were rewritten.Through the Korean Journal Citation Index (KCI), 75 related data were classified and a comprehensive SME performance analysis model was developed.Performance analysis was divided into two axes and classified into tables.The horizontal axis is the spatial performance range, which is divided into three areas: performance management by department/function, integrated performance management for the entire organization, and governance performance management requiring policy feedback. The vertical axis is subdivided into short-term, mid-term, and long-term by time and growth stage, and is divided into three parts: technical performance according to technological input, economic performance as organizational performance, and social performance for policy utilization. Then, performance indicators were mapped to each column. As a result of the survey, 28% of technical performance was analyzed as a result of frequency analysis, and performance indicators were organized into five categories: IT, R&D, certification, patent, and innovation. Economic performance was divided into 29%, BSC, HRD, logistics, production quality management, financial support, asset management, etc. 6 categories, social performance 43%, ESG, marketing, export, policy support, consulting, cooperation, etc. 7 categories.Limitations of the study include the narrowness of the survey that derived only performance indicators despite being a meta-analysis, and the performance model was mapped and classified according to growth stage and support period.however Insufficiency of validity due to lack of evidence, performance indicators were developed, but there were limitations in utilization for practical use.