There have been numerous studies on corporate social responsibility (CSR) and its relation to corporate performance. Recently, studies in this field have paid particular attention to the method of measurement in order to identify the CSR activities. One of the widely recognized measures to proxy CSR is the Environmental, Social, and Governance (ESG) score. This paper examines the relationship between Corporate Social Responsibility (CSR) and corporate profit by testing the ESG performance score on the firm’s Financial Performance (FP), specifically for Korea Stock Market (KOSPI) listed firms in the period of 2008 ~ 2014. We use three separate individual Environmental, Social and Corporate Governance (ESG) disclosure scores from Bloomberg for the CRS proxy measure, as well as the Return on Equity (ROE), Market-to-Book Ratio (MBR) and Stock Return for the FP measures. We found that the ESG disclosure scores (the measures of environmental, social, and governance responsibility performance) in the Korean corporations shows diversified results. Particularly, the environmental responsibility performance score presents a negative (or U curve) relationship with FP, whereas the governance responsibility performance score presents a positive (or inverse U curve) relationship with FP. On the other hand, we did not find any statistically significant evidence of a relationship between the social responsibility performance score and FP.

This study documents, examines and conceptualizes how a large Korean multinational company, LG Electronics, achieves structural ambidexterity within the human resource management (HRM) function through architectural innovation. Synthesizing from prior studies of HRM architecture, architectural innovation and ambidexterity, a conceptual framework is proposed. Based on this conceptual framework, our interpretation of the collected data depicts how structural ambidexterity is developed within the HRM function. Our research contributions are twofold. First, we incorporate the theory of structural ambidexterity into the conceptualization of architectural innovation in HRM. Second, our study provides some useful insights for practitioners who face the challenge of and the need for continuously adjusting HRM practices to meet the ever-changing business environment.

This study examines the causal effect of research and development (R&D) and patents on the financial performance of venture firms in Korea, a model catch‐up economy. The tests for random and fixed effects yielded important findings. R&D investment is the most significant factor affecting patenting. However, the results for the effect of R&D and patents on financial performance were inconclusive. Whereas R&D was positively correlated with sales growth, R&D and patents did not improve firm profitability. These findings illustrate the difference between advanced economies and catch‐up economies in terms of incentives for R&D and patents. Unlike in advanced economies, venture firms in catch‐up economies have to depend on incentive‐based government support. Venture firms in catch‐up economies respond to this incentive system by simply increasing the number of patents and by being less diligent in terms of achieving financial performance.

This paper examines the effects of venture capital and government support on venture firms within the context of Korea. First, in the midst of an underdeveloped venture capital industry, it is necessary to understand if venture capital helps venture firms gain a fast Initial Public Offering (IPO) and increase financial performance. Second, this research examines if government support influences the IPO and financial performance of a firm among venture companies. We used a sample of Korean 727 venture firms to employ regression and survival analyses based on the types of dependent variables. Venture-capital-backed firms exhibited relatively faster performance growth and achieved faster IPO rates, although starting with low profitability as a startup. In addition, government support presented no impact on the financial gains and the IPO speed of a firm. This finding implies that Korean venture firms (despite a less-developed venture capital industry) have enjoyed a similar venture capital impact of a highly advanced venture capital industry. Regarding government support, government-subsidized firms exhibited a non-significant improvement of financial performance and a lowered IPO achievement. Policy implications dealing with a less mature venture capital industry are discussed.