• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.183-194
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• 2021

This study aimed to examine the effect of corporate characteristics, including the industrial sector and scale of operation, financial leverage, profitability, operating period, and social reputation, on socio-ecological responsibility based on Global Reporting Initiative (GRI) standards. The study was conducted in the Indonesian context. A total of 90 public companies listed on the Indonesia Stock Exchange were selected as samples, with an observation period of 10 years. A univariate regression analysis was applied to test the hypotheses. The results showed that the industrial sector, scale of operation, financial leverage, profitability, operating period, and social reputation of the corporate had a positive effect on socio-ecological responsibility. This study also obtained evidence that there were differences in the level of socio-ecological responsibility among the industrial sectors. The higher the relationship between the industrial sector and the possibility of the emergence of social and environmental issues, the higher the level of corporate socio-ecological responsibility. From a policy perspective, the implication of the results of this study was that it could be used as a consideration by the authorities or regulators in Indonesia, particularly the Financial Services Authority (OJK), in determining specific indicators of socio-ecological responsibility that must be carried out by corporates.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.217-224
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• 2021

This research seeks to determine what intellectual capital represented by indicators of conceptual skills, human skills, and technical skills plays a role in the development of financial technology. The consideration of fintech is more practical and economical. The concept of fintech is related to the rapid development of global technology by creating various new technologies, especially computer technology. This research uses secondary data; the population of this study is the top management companies in Indonesia during the new normal era. The sample in this research used a purposive sampling method, and the quantitative method. The results of this research indicate that the intellectual capital variable represented by conceptual skills has a significant positive role in the development of financial technology in the new normal era. This research posits that intellectual capital also has a role in the development of financial technology in the new normal. This is because the new normal period represents currently a new challenge in responding to the economic crisis that is resulting from Covid-19 pandemic around the world. Therefore, new concepts, new humanity, and new techniques are needed to develop financial technology, so that they can exist and encourage economic growth in this Covid-19 pandemic era.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.105-112
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• 2022

The current study is at the forefront of examining the theory of principal-agent framework and financing constraints to explain the level of corporate innovation. To boost the firm's level of innovation, this study uses corporate governance and corporate performance as driving factors. The study's secondary goal is to give information on the parallel relationship between corporate governance and the level of corporate innovation. This study used a two-step least square (TSLS) regression analysis to examine such a simultaneous association using secondary data from Indonesian listed businesses from 2000 to 2021, which totaled around 1,910 observations. This study uses the Principal Component Analysis (PCA) tool to test cumulative variances of potential corporate governance indicators such as the total commissioner of the firm (TCOM), total independent commissioner of the firm (INDPCOM), the proportion of institutional ownership (INSOWN), total female commissioner (FEMCOM), CEO duality (CEODUAL), and type of the firm (SOE). As a result, PCA reveals that four of these variables, omitting CEODUAL and SOE, were a corporate governance construct. Furthermore, the study discovered that the amount of firm innovation and corporate governance are related.

• 한국환경복원기술학회지
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• 제27권1호
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• pp.55-70
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• 2024

The loss of biodiversity poses a significant threat not only to business sustainability and investment risk but also to societal well-being. Nature serves as a crucial driver for long-term business viability and economic prosperity. The Task Force on Nature-related Financial Disclosures (TNFD), established in September 2023, mandates that companies assess and disclose their impacts on nature. Despite this, many businesses lack a full understanding of their reliance on and impact upon natural capital and ecosystem services, leading to insufficient disclosures. This study evaluates the applicability of TNFD's assessment methodologies and indicators within a domestic context, highlighting the condition of nature and ecosystem services, and exploring potential synergies with national biodiversity policies. Our analysis suggests that TNFD necessitates a unique approach to the spatial and temporal data and methodologies traditionally employed in environmental impact assessments. This includes assessing the reciprocal influences of corporate activities on natural capital and ecosystem services via the LEAP framework. Moreover, in industries where the choice of specific indicators depends on unique sectoral traits, developing a standardized strategy for data and assessment indicators-adapted to local conditions-is crucial due to the variability in the availability of assessment tools and data. The proactive engagement of the private sector in ecosystem restoration projects is particularly promising for contributing towards national biodiversity objectives. Although TNFD is in its nascent phase, its global adoption by numerous companies signifies its potential impact. Successful implementation of TNFD is anticipated to deepen businesses' and financial institutions' understanding of natural capital and ecosystem services, thereby reinforcing their commitment to sustainable development.

• 지식경영연구
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• 제9권3호
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• pp.173-194
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• 2008

Conventional financial accounting system has overseen the significant roles of the non-financial facets of the activities of the company, especially whose value creating abilities are based on knowledge assets. In the knowledge-based economy, telecommunication service companies must recognize the changes from the tangible assets to the knowledge assets as value creating resources, understand the dynamic processes in which the knowledge is converted to financial profits and seek the method to measure and report knowledge assets to sustain the competitive advantage continuously. This study proposes the indicators and measures of knowledge assets of Korea Telecom. Through the analysis and application of tile knowledge assets report of the Korea Telecom, this study shows the usefulness of the knowledge assets report.

• Journal of the korean society of oceanography
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• 제37권2호
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• pp.51-57
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• 2002

The ${\Delta}^5$ sterols were measured in be sediments of Jinhae Bay surrounded by industrial cities to assess the sewage-derived contamination. The total concentrations of total sterols ranged from 2.03 to 19.56 ${\mu}g/g$ dry wt. The principal sterol was cholesterol with a contribution of more than 50% to total sterols. Coprostanol, providing an indication of long-term sewage loads, was found in all sediment samples and the concentrations were 0.03-3.86 ${\mu}g/g$ dry wt, accounting for 1-26% to total sterols. The cluster analysis of sampling stations indicated that the sewage-derived contamination was localized in inner Masan Bay.

• East Asian Economic Review
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• 제22권1호
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• pp.29-54
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• 2018

Using the indicators of economic policy uncertainty developed by Baker et al. (2016), this paper investigates the effects of the US economic policy uncertainty on the Korea economic uncertainty as well as Korea-US foreign exchange risk. The key findings are that: (i) the degree of spillovers of policy uncertainty from the US to Korea is considerable but not comparatively high; (ii) the US policy uncertainty plays a stronger and more consistent role in Korean currency risk than Korea policy uncertainty and other macro variables. It implies that the economic policy uncertainty in the US is an important contributor to Korea-US exchange rates.

• Journal of Korea Trade
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• 제24권1호
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• pp.1-34
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• 2020

Purpose - In this study, we investigate determinants of hedging with derivatives and its effect on firm value and firm risk for Korean firms. Design/methodology - To avoid the endogeneity problem pointed out in previous studies, we use a two-stage analysis by using gains and losses from derivatives as instrument variable for hedging with derivatives. Findings - Our analysis on the determinants of hedging shows that firms that are more leveraged and less profitable, and with more growth opportunities are likely to hedge through derivatives. Additionally, large firms, firms less diversified into industry, and firms more diversified geographically are likely to use derivatives. Our two-stage analysis shows that indicators of hedging with derivatives have an insignificant effect on firm value, and the indicator of futures/forwards use and of swaps use have significant negative effect on firm value. Whereas, the extent of hedging with derivatives has positive effect on firm value for all types of foreign currency derivatives, which suggests that moderately low hedgers use derivatives inefficiently, but extensive hedgers use derivatives properly. With regard to firm risk, hedging with derivatives increases market-based risk, but decreases accounting-based risk. Thus, we conclude that Korean firms use derivatives to manage operational volatility rather than to manage market risk, and accounting-based risk reduction through hedging is not directly translated into higher firm value. Originality/value - This is not the first study to investigate hedging behavior of Korean firms, but the sample period that that this study analyzed is the longest and various method are used to control the endogeneity problem. We investigate not only total foreign currency derivatives but also by types of derivatives, including futures/forwards, options, and swaps.

• International Journal of Knowledge Content Development & Technology
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• 제8권1호
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• pp.51-77
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• 2018

This study aimed to determine eco-friendly factors on the aspects of library service, materials provided or handled by the library, and programs including educational programs. Furthermore, it was setup to perform a trial evaluation for the eco-friendliness of the library based on the determined evaluation standards by this study. Results are as follows; First, regarding the question of 'Do employees of the library think that establishment of green libraries is necessary?', the employees of the libraries responded yes by 65.52%, but only 4.6% responded that it would not be necessary. Second, in analyzing the most important evaluation areas of green libraries according to the opinions of the libraries' employees, they were ranked in order: the indoor environment, energy and prevention of environmental pollution, and material and resource areas. Third, 11 areas were determined to evaluate the level of greening in the libraries; the highest averages were scored 510 for the area of energy and prevention of environmental pollution, 415 for the area of library resource, and 320 for the area of indoor environment. Last, the libraries were graded based on actual data according to the results to measure the level of greening, two libraries were graded as Diamond, the highest grade, accounting for 15.39% of all libraries; Gold and Silver grades accounted for another 15.39%, together five Certified graded libraries accounted for 38.46%, which was the highest rate among the libraries. Any library scoring less than 20% when compared to the full score was graded as Non-certified, and one library, which scored 15.06% fell into this category. The results of this study set up to serve as basic data for the direction of development for green libraries in our country, as well as reference for the employees of libraries in constructing or remodeling library buildings, establishing service infrastructure, providing information service, and planning library duties in an eco-friendly way.

• 한국전자거래학회지
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• 제24권4호
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• pp.109-118
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• 2019

최근 미중 무역 갈등에 따른 주식시장의 불안정성으로 인해 많은 사람들이 비트코인의 투자에 관심을 보이고 있고 다수의 선행연구에서 이를 안전자산에 대한 투자로 해석하고 있다. 그러나 최근의 비트코인 시세 변동 폭이 크다는 점을 감안하면 투기적 매수세로 인한 결과로 해석할 여지도 있어 비트코인의 자산 성격을 어떻게 분류하여야 하는가는 관련 회계정보의 분석에 중요한 기준점이 될 수 있다. 본 연구는 비트코인의 안전자산 여부를 판별하기 위해, 비트코인과 경제 지표들 간의 상관관계를 분석하여 금과 비트코인이 지표들과의 시계열 관계에서 유사하게 반응하는지 검증하였다. 분석 결과는 금과 비트코인의 가격 간의 회귀분석 설명력은 낮아 서로 간의 관련성이 낮음을 보인다. 또한, 최근의 6가지 경제 변수와 그랜저 인과관계 분석 결과 비트코인의 경우 변수들과 인과관계가 성립하지 않았다. 이는 단기간의 급격한 가격 변동이 비트코인 자산 성격에도 상당한 영향을 미치고 있음을 반박하는 결과로 볼 수 있다.