• Proceedings of the KSR Conference
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• 2006.11b
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• pp.990-1003
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• 2006

To cope with the change of railway safety environment and to prevent the catastrophic accident, the railway safety management system was established through the legislation of railway safety rules. And to audit and evaluate the accomplishment of railway safety rules by the railway operators, the Integrated Railway Safety Audit System(IRSAS) has been conducting. This study find out the strategy to stabilize the IRSAS by applying Theory of Constraints(TOC) Thinking Process. For meeting the IRSAS's goal of effective levelling up of railway safety, the two necessary conditions, 1)the secure of substantial safety through the IRSAS and 2)the execution of efficient IRSAS, should be fulfilled. Estimated undesirable effects(UDEs) from the IRSAS were identified, and 3 of them were selected for creating the requisite conflict clouds. Entities from these conflict clouds were synthesized into a core conflict cloud that foamed the base of Current Reality Tree. The strategic direction for change extracted from the conflict cloud is the reinforcement of IRSAS preparation system including the level up of operator's self audit, the deepening of preliminary survey, the establishment of complementing system of audit check list and the build up of auditor's specialization. These injection were logically validated via a Future Reality Tree and expected to be confirmed by further progressing of IRSAS.

• Proceedings of KOSOMES biannual meeting
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• 2006.05a
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• pp.33-40
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• 2006

To promote the consistent and effective implementation of IMO instruments such as SOLAS, MARPOL, STCW, LL, TONNAGE, COLREG IMO has adopted voluntary IMO member state audit. This audit scheme is voluntary audit which will be carried out on a voluntary basis, at the request cf the member state to be audited. Nevertheless, the Korea government is preparing the implementation of the audit scheme to strengthen the competitiveness in shipping and shipbuilding industries. In this paper, we investigated the actual conditions of implementation of mandatory IMO instruments and carried out a feasibility study by assessing the cost to be audited and positive effects expected by introducing the audit scheme. As a result of cost benefit analysis we obtained high benefit-cost ratio.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.57-66
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• 2021

The outbreak of the financial crisis, the lack of corporate governance practices in Iraqi companies, the high level of earnings management (EM), and weak firm performance (FP) have all encouraged the purpose of this study. This study proposes to achieve the following objectives: (I) to investigate the influence of governance mechanisms on the earnings management practices, (II) to investigate the consequence of EM on FP. The study sample includes 65 Iraqi firms listed on the Iraqi stock exchange for six years from 2012 to 2018, with 390 firm-year observations. The hypotheses were tested using panel data regression. According to the findings, Iraqi companies prefer to use real EM rather than accruals EM to avoid reporting losses. Discretionary cash flow, production costs, and cash flow from operation are examples of actual operations employed to undertake EM. Furthermore, according to the findings of this study, board meeting frequency and female onboard have a significant and negative influence on EM. Besides, the internal audit function was found not to affect EM. On the other hand, results revealed a significant and negative relationship between EM and FP. According to the study, management prefers to minimize cash and accrual expenditure during the economic downturn.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.135-147
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• 2022

This study was conducted to determine whether there is a significant relationship between board structure and board committee qualities and corporate cash holdings in Pakistan. For this objective, 168 listed enterprises on the PSX for the period 2016 to 2020 were chosen as a sample from a population of 436 non-financial firms. Multiple regression analysis was used in the study to discover a relationship between board structure and board committee features and cash holdings. The study's findings revealed that board size, executive directors, and board independence have no significant impact on the firm's cash holding because they play no important part in the firm's cash holding. Auditors, audit committee size, audit committee meetings, and the compensation committee, on the other hand, have no major impact on the firm's cash holdings because they are not relevant indicators to compare with cash holdings. While board meeting frequency and leadership structure both have a negative influence on cash holding, board meeting frequency increases firm costs, whereas leadership structure causes agency problems. Results were supported by the pecking order theory, cash flow theory, and agency theory.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.119-128
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• 2020

The aim of this paper is to investigate the level of intellectual capital disclosure (ICD) in commercial banks listed on the Indonesian Stock Exchange. This paper also observed the effects of ICD and corporate governance mechanism on market value. This study uses content analysis techniques to measure ICD. The paper provides a novel approach to measure the ICD quality in developing countries using a four-numerical coding system. Secondary data were obtained from the financial statements and annual reports of the banks for the period 2011-2014. The data from 31 banks were analyzed using ordinary least square regression. The study reports that the quality of intellectual capital disclosure in Indonesian commercial banks increase steadily. Narrative disclosure dominates the report of intellectual capital in Indonesian banks. The results indicate that the size of audit committee, frequency of audit committee meeting, and intellectual capital disclosure affect positively the market value. Overall, the results indicate intellectual capital disclosure is associated with the market capitalization; these findings indicate that the ICD is a consideration in a stock investment decision. While regulations in Indonesia regarding intellectual capital reporting are not conclusive yet, the information needs of stakeholders have encouraged companies to expand voluntary disclosure.

• Proceedings of KOSOMES biannual meeting
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• 2004.11a
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• pp.13-16
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• 2004

2001년 9월 11일 미국에 대한 항공기 데러 이후 해상화물운송선박 및 항만시설에 대한 해상 테레에 대비하고자 IMO에서 "국제선박 및 항만시설보안 코드(ISPS Code)"를 제정 및 채택하여 2004년1월 1일부터 발효 중이다. 이와 관련하여 선박에서 이를 적용하기 위하여 해운선사에서는 많은 노력을 경주하였으며 보안시스템을 효과적으로 운영하는가에 대한 검증은 선박보안심사를 통하여 이루어지고 있다. 또한 보안시스템을 운영하고자 할 경우에는 회사보안책임자, 선박보안책임자 및 해상종사자에 대한 효과적인 사전교육이 반드시 필요한 실정이다. 따라서 향후 선박보안심사는 ISM 심사와의 차이를 고려하여 시스템의 이해 및 운영, 보안설비 정비, 보안사건 발생시 비상대응 및 시스템활동기록의 검증에 집중하여야 하며 ISM 심사와의 통합형태가 되어야 할 것이다. 또한 선박보안교육의 경우에는 교육기관을 통한 보안교육에만 의존할 것이 아니라 승선 전 및 승선 후 교육을 통하여 보안의식을 고양시키어야 한다.

• The Journal of Fisheries Business Administration
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• v.40 no.1
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• pp.97-112
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• 2009

The amendment of regulation affecting the Governing Body of NFFC (National Federation of Fisheries Cooperatives) has been known to the public in May 2008. Its essential points are as follow: 1) the President of NFFC shall be a non-standing officer. 2) the Full-Time Directors shall have the authority to deal with all subjects except for those especially reserved for the General Meeting or Board of Directors, while minimizing the authority of NFFC President. By providing this amendment, the government seeks to make the Governing body becomes professionalized and the management functions carried out by full-time professional board members. However, the amendment seems to pay no attention to the co-operative's identity and principles. In this context, five issues will be discussed: 1) Strengthening the separation between ownership and control of NFFC. 2) Weakening the authority of General Meeting. 3) The bounds of Audit Committee. 4) Consolidating the management control of the Full-Time Directors. 5) The loss of NFFC's Identity, followed by a summary and conclusion.

• Proceedings of KOSOMES biannual meeting
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• 2018.06a
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• pp.106-106
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• 2018

• Proceedings of KOSOMES biannual meeting
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• 2017.04a
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• pp.67-67
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• 2017

• Proceedings of KOSOMES biannual meeting
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• 2017.11a
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• pp.173-173
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• 2017