Jae Wook Yoo

Abstract This study examines corporate social responsibility (CSR) through relational networks involving internal, external, and social stakeholders. The empirical analysis uses panel data from 152 Korean listed firms between 2019 and 2021, combining ESG ratings from the Korea Institute of Corporate Governance and Sustainability (KCGS) with financial data (KIS-VALUE) provided by NICE Information Service.

1. Introduction The startup ecosystem in South Korea (Korea hereafter) stands at a significant turning point regarding the perception of failure. In the past, the dominant view was that failure was simply a negative outcome. However, recently, there is a rising movement to break away from this perspective and reinterpret failure as an essential process for growth and innovation.

1. Introduction Unlike advanced capital markets, where institutional investors account for over 90% of market capitalization, China’s stock market has a high proportion of individual investors, which may hinder the efficient procurement and utilization of resources.