• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.45-73
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• 2007

The empirical results are summarized as follows : First, In relation to effects of ownership structure on firm value, there is the non-linear relationship between major(and foreign) shareholder's holdings and firm value. So the results(the compromise hypothesis) by prior researches(Morck et al. 1988 and so forth) is supported. However Institutional shareholder's holdings do not show the significant results. Second, In relation to effects of outside directors on firm value, equally the results of prior researches(Vafeas 2000, Choi et al. 2004), the higher the ratio of outside directors in the board, the higher firm value. Also there is the non-linear relationship between outside directors ratio and firm value. Furthermore, the higher the possibility of outside directors election in the board, the higher the relationship between ownership structure and firm value. As the economic importance of KOSDAQ is more increase, the researches of KOSDAQ should be more realized.

• 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.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.135-144
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• 2021

This study investigates the impact of gender diversity on the board of directors on corporate intellectual capital (IC) disclosure in Indonesia. For the study purpose, the sample was divided into two sections, i.e., companies with large capitalizations and companies with small capitalizations. A paired T-test was used to observe significant changes in the disclosure level between period and type of firm. Using linear regression analysis, the influence of gender diversity and other variables on IC disclosure was examined. The findings show that IC disclosure varies for large and small companies. The level of IC disclosure in large companies was stronger than in small companies. The results of the multivariate analysis showed that the profitability, leverage, ownership, and type of business of the company significantly affect IC disclosure. For companies with large capitalization, the presence of women directors on corporate boards or gender diversity on corporate boards does not impact IC disclosure. This is because the Indonesia Stock Exchange (IDX) does not insist on IC disclosure. However, for small companies, the existence of gender diversity has a significant effect on IC disclosure. The findings of this study suggest that policymakers and standard makers must consider the inclusion of IC disclosure on the annual report as mandatory.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.73-84
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• 2020

The paper investigates the effect of the factors on the disclosure of sustainable development information of enterprises. The research sample includes 120 manufacturing companies listed on Vietnam stock market in 2019. This research uses ordinary least squares (OLS) to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show that five variables have a statistically significant positive effect on disclosure of sustainable development information of manufacturing companies, including firm size (SIZE), independence of board of directors (BOD), foreign ownership (FRO), return on equity (ROE), and financial leverage (LEV). The results indicate that state ownership (STO) has a statistically significant negative effect on disclosure of sustainable development information of manufacturing companies listed on Vietnam stock market. Besides, the research results also show there is a large difference in the disclosure of sustainable development information between listed companies in Vietnam, those of other emerging economies in the region, and the companies in developed markets. Therefore, this paper provides a new insight to managers and related parties on how to improve the firm's sustainability disclosure to bring benefit for the firm itself and the stakeholders by reasonable decisions about the factors that affect disclosure of sustainable development information.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.189-199
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• 2021

This study attempts to examine the relationship between corporate social responsibility (CSR) disclosure and earnings management practices in the context of Saudi Arabia after mandatory IFRS adoption. It is carried out on an unbalanced panel of 277 observations over the period 2017-2019. For this purpose, CSR disclosure is measured by Bloomberg ESG scores, while the residuals from the modified Jones model are considered for earnings management. As control variables, we have retained the firm performance, market-to-book ratio, firm size, financial leverage, board independence, ownership concentration, managerial ownership, and lagged discretionary accruals. Using the system GMM estimator in the dynamic panel, the results show a positive association between CSR disclosure and earnings management practices, thus supporting the perspective of agency theory. Managers engage in socially responsible activities beforehand to conceal their wrongdoing and convince stakeholders that the organization is transparent. They probably use ethical codes as a tool to achieve their own goals rather than the firm's goals. Our contribution is the use of recent data (2017-2019) taking into account the mandatory adoption of IFRS in Saudi Arabia. Additionally, to our knowledge, this study is the first to address CSR disclosure and earnings management practices using GMM system estimates.

• The Journal of the Korea Contents Association
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• v.16 no.3
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• pp.346-353
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• 2016

This research examines the effect of family member in board of directors. In Korea, the ownership and management of a firm is not thoroughly separated and most of firms are managed by controlling family. These family officers have same intent with family CEOs who identify themselves with the firm and want to hand over it to their descendants. Thus, family officers will influence positively on firm performance. Besides, the moderating effect of professional CEO on the above relation will be also positive. It is because professional CEO will be curbed by family officers in board of directors. Under this condition, the potential self-interest seeking behavior will be minimized and the specialty of professional CEO will be manifested. 2,456 firm-year panel data are gathered in manufacturing listed firms from 2004 to 2010 and the result suggests that hypotheses are supported.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.3-38
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• 2007

As we know, D-terms which are constituted with DAF delivered the goods in a border place, DES delivered the goods on board a vessel at a vessel specified port on the buyer's side, DEQ delivered the goods on the quay on the buyer's side as the specified place, DDU and DDP delivered the good at the stipulated place at the agreed place or point, mean arrival contracts. DAF is designed mainly for railway carriage, DES and DEQ are designed mainly for vessel shipment, DDU and DDP are designed mainly for multimodal transportation. In spite of their original purpose of revision. They have in themselves many problems on notable points on application in practice. Therefore, in order to magnify their use, through revision of Incoterms, DAF is restricted to railway carriage, DES and DEQ are restricted to be used only for charter shipments. Particularly transport documents which seller should supply the buyer with under DDU and DDP are documents for ownership and possession rights to the goods loaded when executed in negotiable form like as CIF.

• Management & Information Systems Review
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• v.35 no.3
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• pp.155-171
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• 2016

Separation of management with ownership induces the agency problems between CEO and shareholders of Chinese firms. To solve this problem Chinese government has enforced the "stock incentive management law for stock listed companies" since 2006. However, it has not been clear that this law is beneficial to reduce the agency cost and thus to increase the performance of Chinese firms. This study aims to answer this question. It is specifically designed to explore the effects of CEO's stock incentive on the performance of Chinese firms. It also examines the moderating effects of the characteristics of the board of directors on this relationship. Using a multi-year sample (2008-2014), we found that CEO's stock incentive is positively related to firm's performance. We also found that the equity stakes of board members strengthens the positive relations between CEO's equity incentives and firms' performance. On the other hand, contrary to expectations, the independency of the board of directors does not significantly moderate the relationship between CEO's equity incentives and firms' performance. Based on the findings, this study provides valuable implication for theory and practice.

• The Journal of Society for e-Business Studies
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• v.19 no.2
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• pp.143-158
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• 2014

Country ownership and management of information security companies generally do not clearly separate from the Board of Directors to function smoothly controlling shareholders do not participate in management decision-making and internal control board does not perform the task correctly, they said the issue was raised. The purpose of this study is to improve corporate governance, information security companies of the outside director system was introduced as part of the transparency of accounting information to investigate whether the effectiveness of the overall business management is also part of the efficient management of operations and earnings being with respect to the empirical data would be analyzed using the. This means that with the specific purpose of the characteristics of a technology-intensive company focusing on information security proportion of outside directors and outside directors of the board of directors of the board of directors of the target attendance rate for identifying the relationship between earnings management purposes. The empirical results is the ratio of outside directors and the relationship between discretionary accruals as a temporary negative (-) boyimyeo significant relationship, so was adopted. is discretionary accruals and attendance of outside directors, as is the hypothesis that the regression coefficient negative (-) shows the relationship between the mind, so was adopted.

• Korean journal of communication and information
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• v.19
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• pp.265-294
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• 2002

The purpose of this study is to explore the way in which the internet audience constitutes cyber culture by analysing a bulletin board system(BBS) on a historical drama, 'The World of Women'(SBS). Research findings show that the internee audience participates in a cyber space by five manners; personal participation(18.9%), critique of broadcaster's policy(11.3%), participation in a television drama community(42.1%), co-authorship(6.4%), evaluation and interpretation(21.3%). Through these kinds of participant activities, the internee audience tends to constitute a new cyber culture. Firstly, the audience seems to read 'The World of Women' by a specific way. It is the interest of a Um court lady that is characteristic on BBS of 'The World of Women'. Secondly, the internet audience constructs a new community of meaning by means of using emoticon(emotion and icon), deconstructing grammar, and remaking new signs. Thirdly, the internet audience argues their power over drama production, in other words, their ownership over the drama. Fouthly, the audience actively protests and criticise the policy of the broadcaster, especially charged service. Finally, the internet audience is likely to enjoy writing itself as a fun.