• Journal of Distribution Science
• /
• v.14 no.12
• /
• pp.31-41
• /
• 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.

• Korean Management Science Review
• /
• v.32 no.2
• /
• pp.15-35
• /
• 2015

Large business groups typically have central firms through which their controlling families establish (or acquire) new firms and maintain control over other member firms. Research on corporate governance has developed metrics to identify those central firms and investigated an impact of the centrality on ownership structure and firm's financial performance. This paper introduces centrality metrics used in social network analysis (SNA) to measure how crucial a role each firm plays in the ownership structure of its business group. Then, the SNA centrality metrics are compared with the metrics developed in corporate governance field. Also, we test the relationship between the SNA centrality metrics and firm's value. Experimental results show that the SNA centrality metrics are closely correlated with the centrality metrics used in corporate governance and are significantly correlated with firm's value.

• Journal of Distribution Science
• /
• v.12 no.9
• /
• pp.101-112
• /
• 2014

Purpose - Recently, although corporate social responsibility activities have been increasing in size, they do not have to achieve qualitative improvements and can be passive and cost consuming. Therefore, companies should make quantitative as well as qualitative improvements in their efforts in corporate social responsibility activities. In this study, the classification of social responsibility activities in a variety of studies was analyzed through a more specific path than in previous studies. Corporate behavior image, social behavior image, and corporate contributions image were analyzed through a more detailed analysis of performance. This study suggests that more detailed and concentrated social responsibility activities be pursued by forming companies. Research design, data, and methodology - The purpose of study is to gauge the corporate need for a more intensive, specific area of CSR activities. For this purpose, the sample of consumers that were targeted for CSR activities, recognized as 261 persons, have been investigated. Through a theoretical discussion on previous research, nine hypotheses were established on corporate image, the influence of corporate performance on CSR, and the CSV regulation effect. In order to test the hypothesis, a survey was conducted on 261 male and female consumers who were targeted for CSR, being persons in their 20s to 40s. PASW Statistics 18.0 and AMOS 18.0 were used for statistical analysis. Results - Corporate behavior image was formed through legal responsibility activities and economic responsibility activities. In addition to economic responsibilities, ethical responsibilities and environmental responsibilities were confirmed to have influence on social behavior image. Corporate social responsibility and philanthropic responsibility were confirmed to have influence on economic contribution image. Corporate image has positive effects on brand attitude, corporate reputation, and corporate competition. In addition, when CSV awareness is high, consumers perceive corporate image only through economic responsibility. However, when CSV awareness is low, economic responsibility as well as legal responsibility through charitable activities form the corporate image that influences the brand attitude and corporate reputation, as well as corporate competitiveness. It would appear that the area of corporate social responsibility needs more intensive management for corporate image and corporate competitive advantage. Conclusion - First, the findings of this study show that each CSR activity has a different effect on corporate image and thus, the corporate image influences corporate performance in distinct ways, depending on the CSR activity. This implies that reactive strategies should be tailored to the required image. Second, there is a difference in CSV awareness between groups. When the CSV awareness is low, we can confirm that legal responsibility activities have an especially significant effect on corporate image, implying that corporations should pursue their economic objectives within legal regulations and need to invest significant time and effort for this. This study has limited generalization potential because the result of the model fit has insufficient reference value. In future research, we need to approach various dimensions of corporate performance.

• Korea Trade Review
• /
• v.45 no.3
• /
• pp.91-117
• /
• 2020

This study aimed to understand the relationships among the institutional pressure and the level of compliance and corporate value. The research focuses on four main variables, which are regulatory pressure, normative pressure, and cultural-cognitive pressure as the institutional pressure, and the CSR score as the level of the firm's compliance. We examined the impact of the institutional pressure on the firm's compliance-level, together with the effect of compliance level on the corporate value. We analyzed the 3,792 CSR data listed in China's A market and 31 province and city-level data from China. Results showed that institutional pressure had a positive influence on the firm's compliance level. The corporate value was greater with a high compliance level when the institutional pressure was high. The firm's compliance level negatively influenced corporate value when the institutional pressure was low. This study took into account a level of institutional pressures in three dimensions when investigating the effect of CSR compliance level on the corporate value. Thus, this study has a unique academic contribution by demonstrating that CSR activities can have a positive or negative effect depending on the institutional environment for each firm. The findings of this study also provide valuable insights to industry practitioners by suggesting the importance of considering the institution-specific condition when deciding to comply with the institutional pressure.

• The Korean Journal of Financial Management
• /
• v.26 no.4
• /
• pp.1-34
• /
• 2009

We test the effect of corporate cash holdings on firm value by using the KOSPI listed firms over the period between 2002 and 2007 from the agency theories perspective, which has not been the central interest of prior studies. Unlike existing studies, using the manager's ownership ratio or foreign investor's shareholder ratio as a proxy variable for agency costs, we use the individual firm's corporate governance scores by the KCGS to test the effect of agency costs on the value of firm's cash holdings. We find that a firm value is positively related with its cash holdings. We also find that a firm with good corporate governance tends to experience a higher value of its cash holdings, compared with a firm with bad corporate governance. These results are consistent even after controlling for the endogeneity problems between corporate governance and firm value, strongly supporting the agency theory of cash holdings. Therefore, a firm's cash holdings, even from liquidity or precautionary motives, could increase the firm cash value, as long as its managers' interest is shareholders' wealth maximization rather than their private benefits.

• Journal of Korean Society for Quality Management
• /
• v.49 no.3
• /
• pp.393-404
• /
• 2021

Purpose: The purpose of this study was to examine the corporate responsibility activities and investigate the effects of these activities on financial performance in public institutions. Methods: The collected data using annual performance evaluation for the year 2017-2019 were analyzed using multi-regression analysis. The corporate social responsibility activities for this study were divided into three dimensions such as social value, efficiency, and welfare. Results: The results of this study are as follows; first, public institutions with high evaluation in social value and welfare had a significant positive effect on financial performance factors such as ROA and ROS. Second, we find that there is a significant negative relation between social value activities and debt ratio. This result means that the higher social value activities, the lower debt ratio. It was also found that the activities for enhancing social value made statistically significant positive influence on BIS performance. Conclusion: These results can be interpreted that public institutions trying various social contribution activities does not necessarily bring negative results for financial performance. In conclusion, it means that socially responsible activities and ethical management in the desirable direction can be beneficial to both public institutions and the society to which they belong.

• Health Policy and Management
• /
• v.10 no.1
• /
• pp.95-110
• /
• 2000

The purpose of this study is to evaluate work values of hospital employees. Their work values was compared with that of other corporate's employees or among that of specialties in hospital. It was surveyed to 893 persons; 164 in hospital and 709 in others. The work values of hospital employees are similar to that of other corporate's employees. But they have first priority to working environment, and emphasize monetary incentive much more than hierarchical development. There are some gap in work value between age groups in hospital, different from other corporate. That means hospital manager need to development the more developed work value in hospital. The work values are different in monetary incentive, hierarchical development, safety, working environment, creativity among specialties in hospital. The more special employees emphasize much more to monetary incentive, hierarchical development, working environment and the less special employees have priority to safety work value. Specially, because the hospital managers want to have safety than creativity, it must to make some changing program of work value for advance of future hospital.

• Asia Marketing Journal
• /
• v.20 no.4
• /
• pp.21-47
• /
• 2019

This study empirically examines the synergy effect of a corporate-level loyalty program on customer equity (CE) known as the lifetime value of current and future customers (Blattberg et al. 2009). A corporate-level loyalty program refers to a company-wide integration loyalty program at the corporate-level in which subsidiaries (multi-divisions) participate as program members. It does not merely examine whether there is an integration effect of a corporate-level loyalty program from the CE perspective, but it provides practical implications for a firm's strategic focus by identifying which value creation channels (i.e., acquisition, retention, and cross-selling), brand characteristics (i.e., size of the customer base before integration, diversity of products, and sales channel type), and consumer characteristics (i.e., customer relationship stage, transaction amount before integration, transaction period, and number of purchased brands) are affected the most by the synergy effect.

• The Journal of the Korea Contents Association
• /
• v.22 no.2
• /
• pp.237-254
• /
• 2022

This research paper studied the effect of corporate CEO's image on brand value. The purpose of this study was to elucidate the change in corporate value following the legal arrest of Samsung Electronics CEO. To demonstrate the legal restraint of Samsung Electronics CEO and change in brand value, the argument was made based on analysis data evaluated by the Korea Industrial Policy Institute and Interbrand. In the case of Samsung Electronics, even in 2017 after CEO Lee Jae-yong was arrested, the brand value of Samsung Electronics rose 9% from the previous year to reach $56.2 billion. In 2020, it ranked fifth, and in the first half of 2021, while CEO Lee Jae-yong was arrested, Samsung Electronics ranked fifth in value. In this study, Samsung Electronics' production and brand value continued to rise after the 2000s regardless of the CEO's legal restraint. As a result of this study, Samsung Electronics revealed that the company's management and brand value have been established regardless of the legal restraint of the CEO.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.4
• /
• pp.71-80
• /
• 2020

The paper examines the influence of corporate governance (CG) and earning quality (EQ) on corporate value (FV) of Vietnamese enterprises. The study uses GLS regression and linear structure model using data collected from companies listing on the stock market in Vietnam during 2008-2018, with a total of 2,937 observations. The research results indicate that EQ and CG represented by the Integrated Board of Directors and the Integrated Supervisory Board have a positive effect on FV directly and indirectly. The results show that the Integrated Board of Directors has a positive effect on EQ, whereas the Integrated Supervisory Board has a negative effect on EQ. Based on the research results, we suggest that companies need to strictly comply and implement GC, so to bring down the agency cost and consequently to increase performance. The companies also should establish the Board of Director of a proper size, with financial and accounting specialty, and including women board members. The government also needs to improve the management mechanism asking for firms to prepare and publish financial statements with reliable company information, which could be provided to users. These recommendations are a useful basis to help businesses improve FV via changes in the corporate governance factors in each enterprise.