전체 제목 저자 출처 학회/발행처
국내 기업의 지속가능경영보고서 및 제3자검증 공시 현황: 기업 사례를 중심으로 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
In alignment with the global trend towards mandatory sustainability reporting, the Korean government mandates sustainability reporting for all listed companies by 2030. This regulatory shift requires enhanced responsibility and transparency from firms in disclosing their ESG activities. Hence, this study aims to provide policy insights by analyzing domestic companies" sustainability reports and third-party assurance between 2016 and 2022. Recent findings highlight incomplete ESG reporting: selective Scope3 emissions reporting, omitting legal sanctions, and using discretionary criteria for ESG data disclosure. Employing Python programming, this study comprehensively collects and analyzes sustainability reports of listed companies. Through detailed case analyses, this study proposes policy directions for sustainability reporting obligations.
기업의 ESG 활동과 가치관련성 분석: 가치평가 변수를 성장기회와 가치평가오류로 분해하여 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
The Market-to-Book (M/B) ratio identifies not only growth opportunities but also whether a stock is overvalued or undervalued. This study dissects the M/B ratio into growth opportunities (long-run value to book; LVTB) and misvaluation (firm-specific error; FSE and time-series sector error; TSE) and then analyzes how these factors manifest based on ESG characteristics. The empirical findings reveal that ESG ratings have a positive impact on both valuation errors (FSE and TSE) and long-term growth opportunities (LVTB). In terms of economic impact, when ESG ratings increase (or decrease) by one grade, the firm-specific error increases (or decreases) by 5.1%, the time-series sector error increases (or decreases) by 0.9%, and long-term growth opportunities increase (or decrease) by 0.8%. This suggests that ESG ratings are more closely related to a valuation error based on firm-specific characteristics rather than long-term growth factors.
벤처투자조합(VC)의 성과보수 계약: 기준수익률을 중심으로 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
Using 2,234 fund-level data over a period of 20 years from 2002 to 2022 collected from the Disclosure Information of Venture Capital Analysis (DIVA), this paper examines the determinants of hurdle rate in the performance contracts between Limited Partners (LPs) and General Partners (GPs) of venture capital partnerships and further investigates the impact of the hurdle rate on the fund performance. The paper shows that the economic factors at the time of fund establishment ? namely, fund characteristics, GP characteristics, fund classification, and the vintage year - explain about 34.4% of the total variation in the hurdle rate. Furthermore, this paper also shows that the hurdle rate predicted ex-ante by the economic factors is positively correlated with ex-post performance of the fund while the discretionary (i.e. unpredicted) hurdle rate is negatively correlated with ex-post performance of the fund. To the best of authors" knowledge, this paper is the first to show the determinants of the hurdle rate based on a novel dataset. Moreover, this paper also shows preliminary evidence of efficient contracting between LPs and GPs by showing that the ex-ante predicted hurdle rate positively predicts ex-post performance of the fund.
위험지각이 건설적 발언 행동에 미치는 영향: 정서적 위험지각의 매개효과와 안전 리더십의 조절된 매개효과 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
Despite the recognized significance of risk perception and safety interventions in the job environments of frontline workers in the manufacturing industry, there remains a lack of understanding. To address this gap, this study developed a micro-level job demands-resource model and examined the mediating effect of affective risk perception on the relationship between cognitive risk perception and constructive voice behavior among 350 workers in a Korean household appliance manufacturing factory. Also, the moderating effect of safety leadership was investigated. The key findings revealed that affective risk perception fully mediated the influence of cognitive risk perception, inhibiting constructive voice behavior. Surprisingly, the negative impact of affective risk perception on constructive voice behavior is exacerbated by positive safety leadership. In conclusion, this study sheds light on the detrimental effects of perceived risk and managerial safety emphasis on employees" constructive performance, providing valuable insights for related research and practical implications in the field.
어떤 여성 기업이 후속 투자 유치에 성공하는가? : 투자자 경험의 조절 효과를 중심으로 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
In this study, we examined how an investor’s expertise can moderate female-led enterprises" challenges when achieving follow-up investments. Prior research indicates that female entrepreneurs often face a disadvantageous position within the investment ecosystem compared to their male counterparts. We investigated whether the professional competence of investors, rooted in their diverse experiences, could help alleviate the challenge of female entrepreneurs when they attempt to achieve follow-up investment. This study classified investors" competencies based on their experiences at the company level, industry level, and multinational level. With these experiences, we examined the moderating effects of these experiences on the difficulties faced by female businesses. We conducted an empirical analysis using data from 4,663 companies that secured investment between 2005 and 2022. Our findings reveal that female businesses indeed face difficulties in securing follow-up investments. However, these difficulties are less pronounced when investors have prior investment experience in the same industry and foreign markets. To summarize, this research highlights the investment hurdles female entrepreneurs face and suggests that investors, armed with a broad range of experiences, can play a pivotal role in aiding the success of female entrepreneurs.
부정적인 ESG 평판과 재무보고 성향: 스튜어드십 코드 도입의 영향 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
This study examines whether negative ESG (Environment, Social, and Governance) reputation affects corporate financial reporting quality after the introduction of stewardship code and how institutional investors’ monitoring influences the relationship. Since the stewardship code focuses on improving long-term shareholder value by considering non-financial factors, we predict that the monitoring role of institutional investors is strengthened in companies with increased ESG risks after the introduction of the code. To measure the ESG risks, we select 18 keywords related to MSCI ESG key issues and collect negative ESG news using these keywords. Utilizing the news and C-score(Khan and Watts 2009), we find that conditional conservatism in corporate financial reporting of companies with negative ESG reputation has weakened, while the negative correlation between conditional conservatism in financial reporting and tainted ESG reputation was alleviated after the introduction of the stewardship code. This suggests that the potential losses that may be caused by negative ESG news are conservatively reflected in financial reporting because the stewardship code aims at long-term sustainable growth. Moreover, the higher the stake of institutional investors, the stronger demand for conservative financial reporting, indicating that institutional investors pay more attention to ESG risks after the introduction of the stewardship code.
혁신확산과 캐즘 이론에 기초한 디지털 전환 확산모형: 글로벌 전자부품 기업의 DX 사례 분석 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
Digital transformation is becoming a huge trend in the industry. However, successful cases of digital transformation promotion are rarely reported. Therefore, the need to explore various cases of digital transformation and analyze success and failure factors is raised. The purpose of this study is to conceptualize a digital transformation diffusion model based on innovation diffusion and chasm theory, and to verify the validity of the model through analysis of digital transformation promotion cases. The diffusion process of innovation takes the form of S-curve, and due to the discontinuity of innovation, the diffusion of innovation requires a considerable adjustment period. This is called chasm. Therefore, digital transformation can only succeed if chasm is overcome. The digital transformation diffusion model is a conceptualized model based on this theoretical background. In particular, we confirmed through the case of digital transformation promotion that the case companies are following the pattern suggested by the digital transformation diffusion model. This study is significant in that various types of digital barriers form chasm in the process of promoting digital transformation, and it presents a framework for analysis and alternative proposals.
디지털 플랫폼 기업의 유형 분류 및 진화 경로 분석 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
This study presents a classification framework to understand digital platform firms from the technologicalsocial system perspective and analyzes the typology of their evolutionary trajectory. The typology framework for the evolutionary trajectory of the digital platform firm is developed from two criteria: the platform firms provide “what(online goods vs. offline goods)” and “how(connective leverage vs. innovative leverage)” to platform users. To examine the evolution of platform firms, we collected information of digital goods released by 35 domestic and international digital platform firms. As a result of the study, we reveal that a digital platform firm gave rise to as a form of (.) or (l) and it can take six types of evolutionary paths for which we symbolize them using 6 Korean alphabets (., l, ㅡ, ㅅ, ㄴ, ㅁ). They are pronounced as ‘jeom’, ‘i’, ‘eu’, ‘siot’, ‘nieun’ and ‘mieum’. There were Netflix, Twitter, Carrot Market, Naver, Musinsa, and Kakao as representative firms for each type. The typology framework for digital platform firms proposed in this study enables clear and sophisticated semantic classification and helps understand the evolutionary trajectory as dynamic flows of firm growth.
ESG Rating이 주식형 펀드의 ESG 투자 효율성에 미치는 영향 | 2024.02.29
기타 | 경영학연구 (한국경영학회)
This research aims to analyze the investment efficiency of ESG (Environmental, Social, Governance) in equity funds during the period from 2018 to 2022. The output variables include annual returns, Jensen"s alpha, and the Sharpe ratio of equity ESG funds. Input variables comprise the average ESG scores of the top 30 companies within the funds" portfolios. Data Envelopment Analysis (DEA) is conducted in two stages: initially using the overall ESG score and subsequently using Environment (E), Social (S), and Governance (G) scores as separate inputs. The CCR and BCC models are employed for initial efficiency assessments, with the super-efficiency CCR model re-evaluating and ranking Decision Making Units (DMUs) that demonstrate the 100% efficiency. The study focuses on domestic equity funds classified under ESG, excluding any that were newly established or terminated within the study period, or that had missing data for returns, Sharpe ratio, or Jensen"s alpha. Key findings are as follows: Equity funds exhibit varied ESG investment efficiency, which depends on their specific Environment, Social, and Governance components. ESG investments in these funds were found to be higher than market expectations, providing valuable insights for formulating ESG investment strategy in equity funds.
소셜미디어 인플루언서의 자기노출 수준이 광고 효과에 미치는 영향 : 심리적 거리의 매개효과를 중심으로 | 2024.02.26
기타 | 한국광고홍보학보 (한국광고홍보학회)
본 연구의 목적은 인플루언서의 자기 노출 수준이 소비자와 인플루언서 간의 심리적 거리에 어떤 영향을 미치는지 알아보고, 해석수준 이론을 적용하여 인플루언서의 자기 노출 수준에 따른 효과적인 메시지 소구 방식 (바람직성 vs. 실행가능성)을 확인하는 데 있다. 실험 연구결과, 인플루언서의 자기 노출 수준 높아질수록 소비자가 인플루언서에게 느끼는 심리적 거리가 가까워 지는 것으로 나타났을 뿐 아니라, 이에 따라 인플루언서의 자기노출 수준과 메시지 소구 사이에 유의미한 상호작용이 있는 것으로 나타났다. 구체적으로, 인플루언서의 자기노출 수준이 높은 경우, 인플루언서와의 심리적 거리가 가까워져 실행가능성 소구가 상대적으로 효과적인 반면, 인플루언서의 자기노출 수준이 낮은 경우 인플루언서와의 심리적 거리가 멀어져 바람직성 소구가 효과적이었다. 본 연구는 인플루언서의 분류 기준으로 ‘자기 노출 수준’이라고 하는 질적인 기준의 중요성을 강조한다. 인플루언서의 자기 노출이 상업적 컨텐츠에 대해 지니는 긍/부정적 영향력이 무조건적이지 않고, 자기노출 수준에 따른 소비자-인플루언서간의 심리적 거리에 따라 메시지 소구 방식이 상이해 져야 함을 밝혀 인플루언서 마케팅을 보다 폭넓게 이해하는 시야를 제공한다는 점에서 의의가 있다.
자료 제공처