Sustainability management has evolved into a concept for enhancing corporate sustainability by incorporating corporate social responsibility into the concept of sustainable development. Universities are expected to play a key role in creating a new paradigm for sustainability management by educating and nurturing future human resources. Therefore, it is necessary to discuss the role of universities in introducing sustainability management indicators and practice in order to examine what role universities can play in promoting sustainability management and to fulfill their functions and roles. This study examined the current status of and the necessity for universities’ sustainability management and the international norms in order to promote sustainability management of universities. Then, the case study of domestic universities suggested practical implications for each factor of GRI guidelines. In order to develop the academic discussion, I hope that the elements for sustainability management presented in this study can be used as basic data.

This study addresses how agency costs influence the sustainability of different types of corporate governance. The luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the brand may hold down wasteful spending to report a gaudily financial achievement. Agency costs are defined either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. Agency costs are measured by the value of the principal component. The study conducted regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The findings show that the agency costs of the firms with luxury fashion brand exceed those of control group.