Journal archive

The Korean Society for Journalism & Communication Studies - Vol. 67 , No. 4

[ Article ]
Korean Journal of Journalism & Communication Studies - Vol. 67, No. 4, pp. 198-237
Abbreviation: KSJCS
ISSN: 2586-7369 (Online)
Print publication date 31 Aug 2023
Received 14 Apr 2023 Revised 13 Jul 2023 Accepted 20 Jul 2023
https://doi.org/10.20879/kjjcs.2023.67.4.006

기업에 대한 정당성 압력으로서의 감시견 역할 : 지속가능 경영 뉴스기사의 텍스트 마이닝 분석
윤태일**
**한림대학교 광고홍보학과 교수 (icarus44@hallym.ac.kr)

The Watchdog Role as Legitimacy Pressure on Corporations : A Text Mining Analysis of Sustainable Management News Articles
Tae-Il Yoon**
**Professor, Department of Advertising and Public Relations, Hallym University (icarus44@hallym.ac.kr)
Funding Information ▼

초록

주주 자본주의에서 이해관계자 자본주의로 전환되면서, 기업시민으로서의 책무성을 기대하고 요구하는 정당성 압력은 권력집단에 대한 언론의 감시견 역할과 접목되었다. 이 논문은 기업에 대한 정당성 압력이 실효적으로 작동될 수 있도록 언론이 감시견 역할을 제대로 수행하는가를 규명하기 위해서, 지속가능 경영 뉴스기사의 의제와 논조를 분석하려 한다. 20,000건의 지속가능 경영 뉴스기사 데이터를 자연어 처리과정을 통해 정제한 후, 핵심어 의미연결망 분석, 단어 임베딩, 토픽 모델링, 감정분석 등 텍스트 마이닝의 네 가지 분석 기법을 적용해서 전체적인 의미연결망, 주요 개념의 연관어, 세부적인 하위 주제, 전반적인 보도태도를 분석했다. 의미연결망 분석결과, 지속가능 경영 뉴스기사의 전체적인 의미구조는 기업이 경제적·사회적·환경적 책임을 다하는 지속가능 경영을 실천하여 대외적으로 좋은 평가를 받았다는 내용으로 구성되었다. 단어 임베딩 결과는 ‘지속가능 경영’이나 ‘기업’같은 주요 개념의 연관어도 주로 대외평가나 보고서 발간의 맥락과 관련이 있음을 드러냈다. 토픽 모델링 분석결과 뉴스기사에 담긴 다섯 개의 하위 주제는 ‘산업대상 수상’, ‘평가 선정발표’, ‘그룹회장 혁신’ ‘글로벌 환경기술’ ‘지역사업 지원’이었으며, 대부분 기업에서 쉽게 통제할 수 있는 친기업적 내용이었다. 감정분석 결과 전반적인 보도 태도는 약간 긍정적이었다. 이러한 분석결과는 지속가능 경영 뉴스기사가 기업이 구사하는 상징적 정당화의 수단으로만 활용될 뿐, 기업 정당성을 기대하고 요구하는 이해관계자의 목소리는 제대로 담아내지 못했음을 시사한다. 분석결과를 바탕으로, 언론이 감시견 역할을 강화하여 기업에 정당성 압력을 실효적으로 행사할 때 언론의 신뢰도도 회복할 수 있고 한국 기업의 글로벌 경쟁력도 향상될 수 있음을 논의했다.

Abstract

Corporations feel legitimacy pressure when stakeholders expect and demand that the activities of a company should be desirable, proper, or appropriate within some socially constructed system of norms, values, and beliefs. Among various stakeholders who exert legitimacy pressure on companies, the media is one of the most influential, especially in the early stages of the institutionalization process, when sustainability management is being established as a social institution. If the media exerts legitimacy pressure on companies, this is in line with the media's primary accountability, the role of a watchdog for the power group. In particular, as shareholder capitalism transforms into stakeholder capitalism, the media’s role of a watchdog for companies is expressed in the form of legitimacy pressure. In an attempt to explore whether the media properly serves as a watchdog so that legitimacy pressure on companies can work effectively, this study aims to analyze the themes and tone of sustainable management news articles. For the purpose of the study, 20,000 news articles on sustainable management from 2015 to 2020 were collected through the Big Kinds, a news database of the Korea Press Foundation. Using Python, an open-source programming language widely used for text mining, this study analyzed the overall semantic structure, associative words of core concepts, specific topics, and overall tones in the collected news articles. After cleaning the data with KoNLPy, a Python package for Korean natural language processing, this study applied semantic network analysis (SNA), word embedding, topic modeling, and sentiment analysis using various Python libraries. According to the result of SNA, the overall semantic structure of the sustainable management news articles emphasized that the company received good reviews externally for practicing sustainable management that fulfills its economic, social, and environmental responsibilities. The word embedding results suggested that the association of core concepts such as ‘sustainable management’ or ‘corporate’ was mainly in the context of report publication for external evaluation. As a result of topic modeling analysis, the five topics contained in the news articles were 'industry grand-prix award', 'announcement of good evaluation', 'group chairman innovation', 'global environmental technology', and 'regional business support'. Sentiment analysis results showed that the overall reporting attitude of sustainable management news articles was slightly positive. As a result of analyzing the themes and tone of sustainable management news articles from various angles using various text mining techniques, it is hard to say that the media has properly played the watchdog role. This is because sustainable management news articles were used only as a corporate vehicle for symbolic legitimation, and did not properly capture the voices of stakeholders who expect and demand corporate legitimacy. As implications for the study, it was discussed that when the media strengthens its watchdog role and effectively exerts legitimacy pressure on companies, the credibility of the media can be restored as well as the global competitiveness of Korean companies can be improved.


KeywordsWatchdog Role, Legitimacy Pressure, Sustainable Management, Text Mining
키워드: 감시견 역할, 정당성 압력, 지속가능 경영, 텍스트 마이닝

Acknowledgments

This work was supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea (NRF-2018S1A5A2A01039611)(이 논문은 2018년 대한민국 교육부와 한국연구재단의 지원을 받아 수행된 연구임(NRF-2018S1A5A2A01039611)). This research was supported by Hallym University Research Fund 2023 (HRF-202302-014)(이 논문은 2023년도 한림대학교 교비연구비(HRF-202302-014)에 의하여 연구되었음).


References
1. Ahn, J., & Lee, J. (2008). A study on content analysis about news of corporate philanthropy. Journal of Practical Research in Advertising and Public Relations, 1(1), 89-105. [안주아·이지욱 (2008). 기업의 사회공헌활동에 대한 언론보도 분석. <광고 PR 실학연구>, 1권 1호, 89-105.]
2. Ali, W., Frynas, J. G., & Mahmood, Z. (2017). Determinants of corporate social responsibility (CSR) disclosure in developed and developing countries: A literature review. Corporate Social Responsibility & Environmental Management, 24(4), 273-294.
3. Barkemeyer, R., Figge, F., Holt, D., & Hahn, T. (2009). What the papers say: Trends in sustainability: A comparative analysis of 115 leading national newspapers worldwide. Journal of Corporate Citizenship, 33, 69-86.
4. Bengfort, B., Bilbro, R., & Ojeda, T. (2018). Applied text analysis with Python: Enabling language-aware data products with machine learning. Sebastopol, CA: O’Reilly Media.
5. Benson, R. (2008). Journalism: Normative theories. The International Encyclopedia of Communication, 6, 2591-2597.
6. Blei, D. M., Ng, A. Y., & Jordan, M. I. (2003). Latent dirichlet allocation. Journal of Machine Learning Research, 3, 993-1022.
7. Branco, M. C., & Rodrigues, L. L. (2008). Factors influencing social responsibility disclosure by Portuguese companies. Journal of Business Ethics, 83(4), 685-701.
8. Carroll, C. E. (2011). Media relations and corporate social responsibility. In Ø. Ihlen, J. Bartlett, & S. May (Eds.), The handbook of communication and corporate social responsibility (pp. 423-444). Hoboken, NJ: John Wiley & Sons.
9. Cho, C. H., Freedman, M., & Patten, D. M. (2012). Corporate disclosure of environmental capital expenditures: A test of alternative theories. Accounting, Auditing & Accountability Journal, 25(3), 486–507.
10. Cho, S., & Hong, Y. (2009). Netizens’ evaluations of corporate social responsibility: Content analysis of CSR news stories and online readers’ comments. Public Relations Review, 35(2), 147-149.
11. Clayman, S. E., Heritage, J., Elliott, M. N., & McDonald, L. L. (2007). When does the watchdog bark? Conditions of aggressive questioning in presidential news conferences. American Sociological Review, 72(1), 23-41.
12. Cuadrado-Ballesteros, B., Frías-Aceituno, J., & Martínez-Ferrero, J. (2014). The role of media pressure on the disclosure of sustainability information by local governments. Online Information Review, 38(1), 114-135.
13. Dhanesh, G. S. (2015). Why corporate social responsibility? An analysis of drivers of CSR in India. Management Communication Quarterly, 29(1), 114-129.
14. Doyle, G. (2006). Financial news journalism: A post-Enron analysis of approaches towards economic and financial news production in the UK. Journalism, 7(4), 433-452.
15. Eliwa, Y., Aboud, A., & Saleh, A. (2021). ESG practices and the cost of debt: Evidence from EU countries. Critical Perspectives on Accounting, 79, 102097.
16. Ellman, M., & Germano. F. (2009). What do the papers sell? A model of advertising and media bias. Economic Journal, 119(537), 680-704.
17. Erjavec, K (2004). Beyond advertising and Journalism; Hybrid promotional news discourse. Discourse & Society, 15(5), 553-578.
18. Fogarty, B. J. (2005). Determining economic news coverage. International Journal of Public Opinion Research, 17(2), 149-172.
19. Garcia-Sanchez, I. M., Cuadrado-Ballesteros, B., & Sepulveda, C. (2014). Does media pressure moderate CSR disclosures by external directors? Management Decision, 52(6), 1014-1045.
20. Gavana, G., Gottardo, P., & Moisello, A. M. (2017). Sustainability reporting in family firms: A panel data analysis. Sustainability, 9(1), 38-56.
21. Guo, L., Mays, K., Lai, S., Jalal, M., Ishwar, P., & Betke, M. (2020). Accurate, fast, but not always cheap: Evaluating “crowdcoding” as an alternative approach to analyze social media data. Journalism & Mass Communication Quarterly, 97(3), 811-834.
22. Guo, L., Vargo, C. J., Pan, Z., Ding, W., & Ishwar, P. (2016). Big social data analytics in journalism and mass communication: Comparing dictionary-based text analysis and unsupervised topic modeling. Journalism & Mass Communication Quarterly, 93(2), 332-359.
23. Hahn, R., & Kühnen, M. (2013). Determinants of sustainability reporting: A review of results, trends, theory, and opportunities in an expanding field of research. Journal of Cleaner Production, 59, 5-21.
24. Harber, A. (2009). When a watchdog doesn’t bark: The global financial crisis. Rhodes Journalism Review, 2009(29), 20-21.
25. Harro-Loit, H., & Saks, K. (2006). The diminishing border between advertising and journalism in Estonia. Journalism Studies, 7(2), 312-322.
26. Ignatow, G., & Mihalcea, R. (2016). Text mining: A guidebook for the social sciences. Thousand Oaks, CA: Sage Publications.
27. Jonkman, J., Boukes, M., & Vliegenthart, R. (2020). When do media matter most? A study on the relationship between negative economic news and consumer confidence across the twenty-eight EU states. The International Journal of Press/Politics, 25(1), 76-95.
28. Kalogeropoulos, A., Svensson, H. M., van Dalen, A., de Vreese, C., & Albæk, E. (2015). Are watchdogs doing their business?: Media coverage of economic news. Journalism, 16(8), 993-1009.
29. Kang, M. Y. (2022). Sustainable management of major online platforms in the Republic of Korea. Commerce Education, 36(1), 75-125. [강문영 (2022). 국내 대표 온라인 플랫폼 기업의 지속가능경영. <상업교육연구>, 36권 1호, 75-125.]
30. Kariithi, N. (2003). Business and economics journalism. In D. H. Johnston (Ed.), Encyclopaedia of international media and communications volume 3 (pp. 153-161). San Francisco, CA: Academic Press.
31. Kim, W., Nam, Y., & Shin, J. (2015). Editorial tone of Korean newspapers toward enterprises: Emphasis on ‘The Hankyoreh’, ‘The Chosunilbo’. Korea Society, 16(2), 51-86. [김원섭·남윤철·신종화 (2015). 한국 언론의 기업에 대한 입장: 한겨레신문과 조선일보의 사설을 중심으로. <한국사회>, 16권 2호, 51-86.]
32. Kim, Y., & Lee, S. (2020). What do we mean by a “good” company?: Content analysis of how “good” companies are portrayed in the media. The Korean Journal of Advertising and Public Relations, 22(1), 5-34. [김유승·이슬 (2020). ‘착한’ 기업이란 어떤 기업인가?: 내용 분석을 통한 ‘착한’ 기업의 보도 현황과 의미 고찰. <한국광고홍보학보>, 22권 1호, 5-34.]
33. Kosterich, A., & Ziek, P. (2022). Watching the watchdogs: Examining the adoption and implementation of Corporate Social Responsibility (CSR) communication on diversity in news organizations. Journalism & Mass Communication Quarterly, 100(2), 1-19.
34. Lai, A., Melloni, G., & Stacchezzini, R. (2016). Corporate sustainable development: Is “integrated reporting” a legitimation strategy? Business Strategy & the Environment, 25(3), 165-177.
35. Larcinese, V., Puglisi, R., & Synder, J., Jr. (2011). Partisan bias in economic news: Evidence on the agenda-setting behavior of U.S. newspapers. Journal of Public Economics, 95, 1178-1189.
36. Lee, E., Yoo, J., Rhee, J. H., Shin, H., & Han. J. (2022). Strategic management in the age of stakeholder capitalism. Korean Management Review, 51(5),1361-1407. [이은화·유재욱·이재혁·신형덕·한주희 (2022). 이해관계자 자본주의 시대의 전략경영. <경영학연구>, 51권 5호, 1361-1407.]
37. Lee, H. (2021). A comparative study on the dependence on news release by major Korean media: With a focus on general and economic dailies. The Korean Journal of Advertising and Public Relations, 23(4), 201-229. [이희성 (2021). 국내 주요 언론사의 보도자료 의존도에 관한 비교 연구: 종합지와 경제지의 이념적 성향, 규모를 중심으로. <한국광고홍보학보>, 23권 4호, 201-229.]
38. Lee, N., & Baek, K. (2016). Changes in South Korean economic news from 1994 to 2014: Focusing on the watchdog role of journalism. Korean Journal of Journalism & Communication Studies, 60(4), 203-231. [이나연·백강희 (2016). 1994~2014년 한국 경제뉴스의 변화: 언론의 감시견 역할을 중심으로. <한국언론학보>, 60권 4호, 203-231.]
39. Lee, S. (2022, May 20). South Korea is the world’s second-largest climate villain...Greenhouse gas emissions per capita from coal power plants surpass China and the US. Pressian. Retrieved 4/13/23 from https://www.pressian.com/pages/articles/2022052014435720546 [이상현 (2022, 5, 20). 한국은 세계 2위 기후악당…석탄발전 1인당 온실가스 배출량 中·美 앞질러. <프레시안>.]
40. Lee, S. Y., & Carroll, C. E. (2011). The emergence, variation, and evolution of corporate social responsibility in the public sphere, 1980–2004: The exposure of firms to public debate. Journal of Business Ethics, 104, 115-131.
41. Lee, W. S., & Choi, M. (2011). Death remembered by family, death recorded by reporter : A semantic network analysis and topic modeling of the text memorializing Sewol ferry victims. Korean Journal of Journalism & Communication Studies, 65(6), 482-518. [이완수·최명일 (2021). 가족이 기억하는 죽음, 기자가 기록하는 죽음: 의미연결망 분석과 토픽모델링을 이용한 세월호 학생 희생자 추모 텍스트 분석. <한국언론학보>, 65권 6호, 482-518.]
42. Lee, W. S., & Shin, M. H. .(2020). Media agenda building on the national economy: Salience and hierarchy of the agenda in newspaper and broadcasting economic news data(1998-2017). Korean Journal of Journalism & Communication Studies, 64(5), 248-285. [이완수·신명환 (2020). 국가경제에 대한 미디어 의제 구성: 신문과 방송 경제뉴스 데이터(1998-2017) 분석을 통해 본 의제의 현저성과 위계성. <한국언론학보>, 64권 5호, 248-285.]
43. Legendre, S., & Coderre, F. (2013). Determinants of GRI G3 application levels: The case of the Fortune Global 500. Corporate Social Responsibility & Environmental Management, 20(3), 182–192.
44. Lim, B., Lee, W., & Lee, M. (2014). Covert cohabitation of news and advertisement: News frame towards advertisers of the media. Korean Journal of Communication & Information, 66(2), 133-158. [임봉수·이완수·이민규 (2014). 뉴스와 광고의 은밀한 동거: 광고주에 대한 언론의 뉴스 구성. <한국언론정보학보>, 66권 2호, 133-158.]
45. Lim, H. (2022, December 14). Domestic corporate ESG management ranks lowest in the global... ESG rating downgrade, why? E-Korea. Retrieved 4/13/23 from http://www.ekoreanews.co.kr/news/articleView.html?idxno=64315 [임해원 (2022, 12, 14). 국내 기업 ESG 경영 글로벌 최하위... ESG 등급 하락, 왜? <이코리아>.]
46. Lunenberg, K., Gosselt, J. F., & De Jong, M. D. (2016). Framing CSR fit: How corporate social responsibility activities are covered by news media. Public Relations Review, 42(5), 943-951.
47. Mahoney, L. S., Thorne, L., Cecil, L., & LaGore, W. (2013). A research note on standalone corporate social responsibility reports: Signaling or greenwashing? Critical Perspectives on Accounting, 24(4-5), 350-359.
48. Manning, P. (2012). Financial journalism, news sources and the banking crisis. Journalism, 14(2), 173-189.
49. Min, Y. (2002). Intertwining of campaign news and advertising: The content and electoral effects of newspaper ad watches. Journalism & Mass Communication Quarterly, 79(4), 927-944.
50. Moon, S. (2023, May 12). From 2025, KOSPI-listed companies with assets of over 2 trillion will be required to disclose ESG. The Chosunilbo. Retrieved 5/12/23 from https://biz.chosun.com/stock/stock_general/2023/05/12/XVLCWQ2ZQZHDVPLT22BF2GLCYE [문수빈 (2023, 5, 12). 2025년부터 자산 2조 이상 코스피 상장사, ESG 공시 의무화. <조선일보>.]
51. Nielsen, A. E., & Thomsen, C. (2018). Reviewing corporate social responsibility communication: A legitimacy perspective. Corporate Communications: An International Journal, 23(4), 492-511.
52. Pae, J. (2010). A study on advertising’s influence on newspaper reports. Korean Journal of Journalism & Communication Studies, 54(6), 103-128. [배정근 (2010). 광고가 신문보도에 미치는 영향에 관한 연구. <한국언론학보>, 54권 6호, 103-128.]
53. Palazzo, G., & Scherer, A. G. (2006). Corporate legitimacy as deliberation: A communicative framework. Journal of Business Ethics, 66, 71-88.
54. Park, J., Oh, Y., Shim, S., Lee, S., & Cho, J. (2022). Media framing and public relations practitioner’s perceptions about ESG media coverage. Journal of Public Relations, 26(2), 117-149. [박준규·오유선·심승범·이승원·조재희 (2022). ESG (Environmental・ Social・ Governance) 언론보도에 대한 실무자 인식 및 보도 프레임 연구. <홍보학연구>, 26권 2호, 117-149.]
55. Park, S., Na, C., Choi, M., Lee, D., & On, B. (2018). KNU Korean sentiment lexicon: Bi-LSTM-based method for building a Korean sentiment lexicon. Journal of Intelligence and Information Systems, 24(4), 219-240. [박상민·나철원·최민성·이다희·온병원 (2018). Bi-LSTM 기반의 한국어 감성사전 구축 방안. <지능정보연구>, 24권 4호, 219-240.]
56. Pollak, S., Coesemans, R., Daelemans, W., & Lavrač, N. (2011). Detecting contrast patterns in newspaper articles by combining discourse analysis and text mining. Pragmatics. Quarterly Publication of the International Pragmatics Association (IPrA), 21(4), 647-683.
57. Ri, S. Y., Baek, K., & Lee, J. H. (2023). Conservative and progressive media’s corporate news coverage and their effects on businessmen’s economic evaluation sentiment: Big data analysis with BERT-based deep learning model. Korean Journal of Journalism & Communication Studies, 67(1), 185-229. [이승윤·백강희·이종혁 (2023). 언론의 정치 성향에 따른 기업 보도 태도의 차이와 기업인 경기평가 심리에 미치는 영향 분석: BERT 기반 딥러닝 모형을 적용한 빅데이터 분석. <한국언론학보>, 67권 1호, 185-229.]
58. Soroka, S. N. (2006). Good news and bad news: Asymmetric responses to economic information. Journal of Politics, 68(2), 372-385.
59. Strang, D., & Macy, M. W. (2001). In search of excellence: Fads, success stories, and adaptive emulation. American Journal of Sociology, 107(1), 147-182.
60. Suchman, M. C. (1995). Managing legitimacy: Strategic and institutional approaches. Academy of Management Review, 20(3), 571-610.
61. Usher, N. (2012). Ignored, uninterested, and the blame game: How The New York Times, Marketplace, and TheStreet distanced themselves from preventing the 2007-2009 financial crisis. Journalism, 14(2), 190-207.
62. Van Atteveldt, W., Van der Velden, M. A., & Boukes, M. (2021). The validity of sentiment analysis: Comparing manual annotation, crowd-coding, dictionary approaches, and machine learning algorithms. Communication Methods and Measures, 15(2), 121-140.
63. Vivarta, V., & Canela, G. (2006). Corporate social responsibility in Brazil: The role of the press as watchdog. Journal of Corporate Citizenship, 21, 95-106.
64. Watts, G., Fernie, S., & Dainty, A. (2019). Paradox and legitimacy in construction: How CSR reports restrict CSR practice. International Journal of Building Pathology and Adaptation, 37(2), 231-246.
65. Yoon, T. (2022). How does a company secure legitimacy through ESG?: A qualitative interview exploring perceptions of ESG practitioners. Communication Theories, 18(3), 135-177. [윤태일 (2022). 기업은 ESG를 통해 어떻게 정당성을 확보하는가?: 질적 면담을 통한 실무자 인식의 탐색. <커뮤니케이션 이론>, 18권 3호, 135-177.]
66. Yoon, T., & Byun, H. (2020). Corporate legitimacy and sustainability communication: A comparative analysis on the determinants of sustainability information disclosure. Korean Journal of Journalism & Communication Studies, 64(6), 238-274. [윤태일·변혜영 (2020). 기업의 정당성과 지속가능성 커뮤니케이션: 지속가능성 정보공시의 결정요인에 관한 비교분석. <한국언론학보>, 64권 6호, 238-274.]
67. Yoon, T., & Lee, S. (2018). Text analytics with Python. Seoul: Neulbom. [윤태일·이수안 (2018). <파이썬으로 텍스트 분석하기>. 서울: 늘봄.]