• 유통과학연구
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• 제16권10호
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• pp.77-82
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• 2018

Purpose - This paper examines the relationship between corporate social responsibility and financial reporting quality. Corporate social responsibility is a way for firms to take responsibility for the social and environmental impacts of their business operations. Corporate social responsibility is a broad concept that can take various forms depending on the firm and industry. Through corporate social responsibility programs, firms can benefit society. At the same time, firms improve their reputations by increasing engagement in corporate social responsibility activities. However, corporate social responsibility activities are not directly related to profitability, especially for distribution firms. Research design, data, and methodology - 229 distribution & service firm-years between 2011 and 2016 are used for the main analysis. In Korea, Korean Economic Justice Institute evaluates the ethical performance of Korean firms, and the institute annually discloses the scores of top firms. This study uses the KEJI Index scores to measure firm-level corporate social responsibility activities. Discretionary accruals are used as a proxy for financial reporting quality. Discretionary accruals can be used opportunistically, and thus distort the information in earnings. We extract financial data from the KIS Value database. Results - We find that distribution & service firms' engagement in corporate social responsibilities is positively related to their financial reporting quality. First, there is a negative correlation between implementation of corporate social responsibility activities and discretionary accruals. In addition, we find that the coefficient of CSR is significantly negative, supporting our prediction. The result is significant at the 1% level. Conclusions - We examine the relationship between corporate social responsibility activities of distribution firms and their financial reporting quality while most prior studies examine the engagement in corporate social responsibility activities of manufacturing firms. The results of this study show that distribution & service firms engaging in corporate social responsibility activities are likely to maintain high-quality financial reporting.

• 아태비즈니스연구
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• 제14권4호
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• pp.87-113
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• 2023

Purpose - Focusing on Haier, a successful corporate venture in China, we analyse the operating mechanism and success factors of corporate venture, and reveal the necessary factors for the successful implementation of corporate venture. Design/methodology/approach - This study is a single case study centred on Haier, a successful corporate venture in China. Findings - The operational process of Haier's corporate venture includes six key aspects: project selection, team building, resource allocation and support, project implementation, risk control measures, performance evaluation and rewards. In terms of success factors, the support of top management with leadership capability of value creation and sharing is very important for the success of corporate venture. Secondly, a multi reward mechanism can be introduced to motivate employees and improve performance. Thirdly, it is important to integrate corporate culture into the operating mechanism of an corporate venture. Fourthly, flexible operations that break down rigid organisational boundaries and transform the organisation into a more open platform for entrepreneurship can increase the likelihood of success. Finally, empowering employees with operational discretion can also have a positive impact on the success of an Corporate Venture. Research implications or Originality - This study contributes to theory and practice by analysing the success conditions of corporate venture, providing new understanding and drawing new perspectives, especially from the experience of Haier. The results suggest strategies and flexibility for successfully pursuing corporate venture, and provide important experience for international companies to help them gain competitive advantage in global competition. It also helps corporate leaders to promote new directions and innovations and improve their strategies to respond to dynamic environments.

• 유통과학연구
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• 제14권9호
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• pp.73-83
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• 2016

Purpose - Previous studies have not paid attention to global self-corporate brand congruity and affective approach from the viewpoint of global self. This study explored an inducement of gratitude that, under the circumstance of corporate association, consumers feel toward corporate's responsible activities, pride related to corporate's ability, and global self congruity. Current researches also have examined positive behavior effects of global self-corporate brand congruity and the feelings on corporate products. Research design, data, and methodology - This research theoretically reviewed that corporate ability and social responsibility association would influence global self-corporate brand congruity, that corporate ability association could induce consumers' sense of pride, and that social responsibility association might induce gratitude. This study, furthermore, examined theoretically whether global self-corporate brand congruity, pride and gratitude could make consumers behave positively toward corporate products, and developed hypotheses. For the empirical analysis with the questionnaires, 231 employees and common people completed the questionnaires, and structural equation model of AMOS 18.0 was used. Results - From the empirical analysis, the outcomes are as followings. First, corporate ability association makes consumers feel proud. Second, corporate social responsible association makes consumers feel grateful. Third, both corporate ability association and social responsibility association let consumers be aware of global self-corporate brand congruity. Fourth, being conscious of each of pride, gratitude and global self-corporate brand congruity prompts consumers to behave positively toward corporate products. Fifth, mediation effects of pride and the congruity in the roles of corporate ability association on the positive behavior, and those of gratitude and the congruity in the roles of corporate social responsible association on the positive behavior are identified. Conclusions - Based on the results, it can be said that a marketing manager should endeavor to make consumers associate the corporate ability and social responsibility. However, the degree of consumers' feelings such as pride and gratitude can differ according to their cultural backgrounds. It is, therefore, needed to be explored by the types of feelings that can be caused more from the difference in cultural backgrounds by corporate association, and to be investigated differently and positively with behavioral effects on the corporate's products between the types.

• 유통과학연구
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• 제14권5호
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• pp.27-37
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• 2016

Purpose - Prior theories expect a lower marginal value of cash for weak governance firms. To test this hypothesis, we examine the relationship between corporate governance structures and marginal cash values in Korean retail firms. Research design, data, and methodology - We estimate marginal cash values based on the model of Faulkender & Wang (2006). The retail firms listed in Korean Stock Exchange from 2005 to 2013 are analyzed. Corporate governance scores are provided by Korean Corporate Governance Services. Results - We show a higher marginal value of cash for the weak governance retail firms in terms of total governance score. Our analysis on a detailed set of governance scores generally confirms this tendency. Yet, a higher marginal cash value is obtained for the firms with better board structures and dividend policies. Conclusions - Our findings argue against the agency view of cash policy predicting a negative relationship between corporate governance scores and marginal cash values. A low marginal value of cash, widely observed in the sample firms, also supports severe resource diversion problem in Korean corporations.

• 한국콘텐츠학회논문지
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• 제14권1호
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• pp.119-127
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• 2014

기업 이미지 향상을 위한 경쟁이 갈수록 치열해지고 있는 지금, 기업의 투자와 직결되는 핵심 기업 정보를 홍보하는 애뉴얼리포트는 단순한 홍보물을 넘어서 기업의 가치를 판단하는 하나의 가늠자이다. 좋은 상업적 디자인은 기능적 요구와 심미적 요구의 충실한 교집합이다. 이런 관점에서 애뉴얼리포트의 매체적 특성과 이에 따른 디자인 결과물들을 객관적 자료로 정리하고자 하였다. 본 연구의 대상은 2013 ARC어워드 내지 디자인 부문 수상 애뉴얼리포트들의 메인 콘셉 메시지와 페이지 정보 구조를 통한 편집 기획 방향의 사례들, 책에 콘셉과 특징을 부여한 피쳐 페이지(Feature Page)의 기본 편집 요소인 이미지와 타이포그래피 활용 현상을 제시해 보고자 한다. 본 연구의 방법은 출판된 결과물의 현상과 결과를 물리적으로 구분하고, 그것을 통해 어떤 요소들이 공통적 유형으로 혹은 불규칙한 유형으로 존재하는지를 관찰해본다. 이렇게 수상작들의 결과물을 정리 구분한 자료들을 바탕으로 실무 현장의 그래픽 디자이너와 홍보 편집 기획자들을 창의적인 콘셉 수립과 표현 개발에 더 많은 시간을 부여할 수 있는 기회를 제공할 수 있다. 또한 이 자료는 클라이언트에게 제시할 수 있는 현황 데이터로 활용되어, 좀 더 향상된 수준의 홍보 제작물을 창작하는데 기여할 것으로 기대한다.

• 유통과학연구
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• 제14권3호
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• pp.45-54
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• 2016

Purpose - There have been numerous studies investigating the effects of corporate social responsibility initiatives on corporate associations or corporate images. In line of this research stream, current research examined the potential impact of customer participation in the process of corporate social responsibility initiatives on attitude toward the company. This research differentiates from previous studies that it is the first to connect corporate social responsibility and customer participation. Specifically, we suggest a structural model on corporate associations which was classified into corporate ability associations and corporate social responsibility associations that the more the customers participate in initiating corporate social responsibility, corporate associations were formed more positively. And this leads to the increase of revisit intentions through customer satisfaction. Research design, data, and methodology - To test our research model, we collected data of real consumers of a large discount store in Korea. At the large discount store, customers were given an opportunity to participate the discount store's CSR activity program. We performed field survey and collected data of 146 respondents. We analyzed the data using PASW statistics 21.0 and AMOS 16.0 in order to test our structural model. Results - The results showed that consumers who participated more in initiating corporate social responsibility revealed higher score for corporate ability associations and corporate social responsibility associations. These corporate associations had a positive effect on customer satisfaction, which leads to higher attitude toward revisit intentions. Specifically, hypothesis 1.1 "As Customer participation in CSR process increases, the evaluation of CA associations will be positive,"was supported. Hypothesis 1.2 "As Customer participation in CSR process increases, the evaluation of CSR associations will be positive," was supported. Hypothesis 2.1 "As the evaluation of CA associations is positive, satisfaction with the firm will increase," was supported. Hypothesis 2.1 "As the evaluation of CSR associations is positive, satisfaction with the firm will increase," was supported. Hypothesis 3 "As satisfaction with the firm increases, revisit intentions with the firm will increase," was supported. Conclusions - This research is the first to study the relationship between customer participation in CSR process, CSR, and consumer reactions. This research also contributes to customer participation and corporate social responsibility literature by suggesting customer participation as an antecedent and empirically demonstrating the positive relationships between the constructs. The findings of this research may offer managerial implications for marketing practitioners. When performing corporate social initiatives, it is better to let the customer participate in the process which leads to higher corporate ability associations and corporate social responsibility associations, also higher satisfaction and revisit intentions. Our results provide useful information to practioners that spontaneous participation of consumers makes CSR initiatives effective and successful. Limitations and ideas for further research remain in this research. For example, our focus on the logic was cognitive evaluations(e.g. corporate associations) but affective dimensions might be considered since recent researches are investigating the relationship between customer participation and affective reaction as a response. Despite the limitations, this research have unique and applicable implications for academics and practitioners.

• 유통과학연구
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• 제16권2호
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• 유통과학연구
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• 제17권10호
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• pp.49-59
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• 2019

Purpose - This study aims to verify the effect of sports sponsorship recognition on corporate image and the relationship between image and identification, corporate image and purchasing intention, brand identification and purchasing intention Research design, data, and methodology - To carry out the purpose of this study, a set of data was collected from 320 surveys and 305 of them were used. Statistic programs, SPSS 18.0 and AMOS 20.0, were used to analyze the data. Results - It was found that emotional sports sponsorship recognition and social sponsorship sports sponsorship recognition had positive effects on corporate image and brand identification. Corporate image also had a positive effect on brand identification. Besides, it was analyzed that corporate image and brand identification had positive effects on purchasing intention. Conclusions - The results show that sports sponsorship recognition can influence brand identification and purchasing intention, and contribute to the enhancement of corporate image. Since brand personality that matches the self-image of the targeted customer will have a more positive effect on the relationship with the consumer, marketing activities should be carried out so that the brand image can be identified with the company image of sports sponsorship activities.

• 유통과학연구
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• 제14권12호
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• pp.31-41
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• 2016

Purpose - This study investigates whether corporate social responsibility(hereafter CSR) management activities affect companies' performance. Depending on the CSR management activities and companies' type (national and multinational), we examined whether there is any difference in their CSR activities on Corporate Performance. Research design, data, and methodology - Data were collected from 230 surveys with a sample group consisting of employees in multinational corporations located in Seoul and Gyeonggi and 224 copies were used from 3 May 2016 to 17 May 2016. The data was analyzed by SPSS 21.0. Results - The empirical results show that CSR management activities positively influence on financial and non-financial corporate achievement and CSR may be interpreted as a strategic method to improve corporate value. But the impacts of CSR activities on performance were different between domestic and multinational corporations. The reason that the legal responsibility was overruled as a factor for financial and non-financial achievement in domestic company may be that CSR management activity is perceived as an indulgence to hide or beautify negative behavior regarding corporate illegal behavior, thus it does not deliver value. Conclusions - CSR activities can be delivered differently between domestic and multinational corporations, and further study should be done why there are differences between corporations.

• 유통과학연구
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• 제11권11호
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• pp.5-11
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• 2013

Purpose - Considering corporate companies that are continually growing and bearing in mind the theory of agency, how confident can stakeholders be about their benefits in relation to managers' decisions? Previous research has indicated that the type of corporate governance can have an effective impact on companies' performance. The current study aims to investigate the impact of ownership structure on listed companies on the Tehran Stock Exchange. Research Design, Data, and Methodology - Through use of the correlation coefficient, the results indicate a positive correlation among the percentage of common stock held by board members, the percentage of non-executive board members, and separation of the positions of chairperson of the board of directors and managing director. Results - Based on the return on assets index, only the correlation between the proportion of ownership of the managing director and financial investment company ownership is significant. Conclusion -Managers can potentially make decisions that benefit themselves but are detrimental to shareholders' interests. Corporate governance is a factor that can mitigate agency costs. Corporate governance comprises the laws, regulations, structures, processes, cultures, and systems that lead to the achievement of objectives such as accountability, transparency, justice, and stakeholders' rights.