Professor Woo-Sung Kim of Silla University Elevates the Status of Korean Business Administration with Publication in International Journal

Academic Journal "The Journal of Global Business and Technology"

Professor Woo-Sung Kim from the Department of Business Administration at Silla University has achieved a monumental accomplishment that elevates the status of business administration in South Korea.

Professor Kim has made a significant breakthrough by publishing his research paper in "The Journal of Global Business and Technology," a top-tier international academic journal recognized by scholars worldwide.

Professor Woo-Sung Kim, Department of Business Administration, Silla University.

Through joint research with Professor Halil Kiymaz (Bank of America Professor of Finance) at the Crummer Graduate School of Business, Rollins College in the United States, Professor Woo-Sung Kim of Silla University published a paper titled "Do Founder CEOs Matter in ESG Performance? Evidence from Indian Listed Firms." This paper empirically analyzes the impact of founder CEOs on the ESG (Environmental, Social, and Governance) performance of Indian listed companies and was published in Volume 21, Issue 1 of the Scopus-indexed international journal "Journal of Global Business and Technology" in 2025.

This study conducted a panel regression analysis on 215 companies listed on the Indian stock exchange from 2010 to 2015, systematically identifying the relationship between the characteristics of founder CEOs and ESG management performance.

The research found that companies with founder CEOs tended to have significantly lower ESG performance.

This supports the self-interest hypothesis, which suggests that founder CEOs may prioritize maintaining control over the company or maximizing personal gain.

Additionally, the negative effect of founder CEOs was found to be stronger in companies with greater growth opportunities, indicating that ESG-related investments may be deprioritized in high-growth firms.

In contrast, in companies with higher foreign ownership, this negative relationship was mitigated, supporting the auditing role hypothesis, which posits that foreign investors enhance ESG transparency and responsible management through monitoring and oversight.

This study is academically significant as it empirically demonstrates the limitations of the founder CEO system in the institutionalization and professionalization of ESG management, while also showing that the monitoring role of foreign investors can promote sustainable management in companies.

Professor Woo-Sung Kim of Silla University stated, "While founder CEOs can contribute to the long-term growth of a company, we have confirmed that the participation of external experts and transparency in governance are essential in management stages where public interest and sustainability, such as ESG, are required. I plan to continue expanding research on the institutionalization of ESG in emerging market companies in the future."

He added, "I am deeply honored that this paper has been published in an international journal. I am grateful for the continuous support from Silla University and the encouragement of my colleagues, and I will continue to do my best to have a positive impact on students through academic passion and research achievements."