• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.67-79
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.423-431
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• 2021

This study aims to examine the effect of liquidity, activity, leverage, and profitability on firm value, as well as the effect of disclosure of corporate social responsibility (CSR), which in this study is a moderator and company size as a control variable. The sampling technique used in this study is a purposive sampling method with certain criteria, to obtain a sample of 22 LQ45 index companies listed on the Indonesia Stock Exchange in 2014-2019. The data analysis method in this study used was the Multiple Linear Regression Analysis with the SPSS 18 Program. The results show that the ratios of liquidity, activity, leverage, and profitability are significant to firm value in accordance with the initial hypothesis of the study. Corporate Social Responsibility (CSR) plays a role as a moderating variable and company size variable as a control variable on the effect of financial ratios (liquidity, activity, leverage, and profitability) on firm value. The implication of this research is that CSR has a very important role in increasing company value. To attract more investors, companies must pay attention not only to financial performance but also to social performance. Large-scale companies tend to do more CSR so that the company value will increase.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1249-1256
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• 2021

This study investigates the company value determinant by observing the effect of financial performance and Corporate Social Responsibility (CSR) and its role in moderating performance achievement. The macro-economy variables such as inflation and interest rate are also used as the controlling variable. This research employs the sample of manufacturing companies of the food and beverage sub-sector listed on the Indonesia Stock Exchange. This study used panel data from 2013 to 2017, with the moderating regression analysis. The result shows that the profitability of the current or previous period affects the company's value. CSR and company size affect the company value at the next period shows that stock price, which reflects the investor's perception today, will be affected by the CSR, Size, and Return On Asset of the previous year. CSR also shows that it can be the substitute for profitability since a company that performs CSR is the one that has a good performance. The regression moderating model and the profitability of the previous period have a higher explanatory power than the higher R square value in explaining company value.

• Proceedings of the Safety Management and Science Conference
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• 2008.11a
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• pp.41-50
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• 2008

The study proposes a priority model for program directors in charge of Corporate Social Contribution to make the best decision. This empirical analysis aims to discover the most significant area among various programs of Corporate Social Contribution Activities. The Analytical Hierarchy Process (AHP) is used to test the priority model. The study attempts to demonstrate how the model helps providing better decision choices in corporate practices. The priority preference in Corporate Social Contribution Activities programs among corporate social contribution practitioners, PR professors and NGO activists is examined in order to present preferred programs of corporate social contribution programs, which they value the most as a part of overall social welfare.

• Asia Marketing Journal
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• v.20 no.1
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• pp.1-21
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• 2018

An increasing number of studies have examined the effects of corporate social responsibility (CSR) activities on corporate financial performance (CFP) in the service industry. However, the extant literature does not provide comprehensive insights into the conditions on which the CSR-CFP link relies. In this study, firms' marketing communication capability (MCC) is introduced as an important contingency variable, which determines the effects of CSR on the corporate financial performance, in the context of restaurant businesses. Multiple year data on the spending of public restaurant chains on different media are collected, and MCC is subsequently measured using the data envelope analysis. Then, a test is conducted to prove whether MCC moderates the relationship between CSR and firm financial performance. The empirical results support the hypothesis that MCC strengthens the effect of CSR on CFP. Through the findings, this research provides several interesting and important implications to the literature and managers of service firms.

• Journal of the Korea Society of Computer and Information
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• v.18 no.9
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• pp.139-152
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• 2013

Although a series of studies shows the fact that a company's reputation could affect its sales rate and stock price, due to the increased use of SNS, the research related to the online measurement method for the corporate reputation has been relatively insufficient. This study explores a design for a method to quantify the corporate reputation value by reconstructing the discussions in literature review. Concretely, this study divides the corporate reputation value into the corporate identity information and the corporate awareness information, which includes the following five sub-categories: (1) the quality of product and service; (2) the employment environment; (3) the corporate vision; (4) the social responsibility; and (5) the business achievement. Additionally, for the corporate identity assessment, this study considers the following six factors: (1) Agreeableness (Goodness), (2)Capability (Ability), (3)Enterprise (Rise), (4)Chic (Class), (5) Ruthlessness (Authority), and (6)Informality. Based on these categories and factors, this study develops a technique quantifying the corporate reputation value by selecting 'word items' for the reputation search, and after conducting a frequency analysis in a survey. Also, to verify the result, this study exemplifies the reputation of three SI companies in Korea which could be utilized by using the commercialized reputation service. This study firstly attempts the corporate reputation measurement by classifying the identity and the awareness (corporate image and communication) upon a company in detail and enables its real applicabilities by proposing a formula to measure the reputation scores which can be utilized by verified word items from a frequency analysis.

• The Journal of Society for e-Business Studies
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• v.21 no.3
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• pp.101-128
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• 2016

To improve competitiveness & performance for salesmen of small & medium IT company, this study aims not only to inspect how value orientation, leadership & justice make effects for Organizational Citizenship Behavior & Business Corporate Performance & but also to explore the role of adaptive selling practices as parameter. To support the study, the data collected from 314 employees in sales roles at more than 200 IT companies was processed via. regression analysis method. The research model of study lies at identification of 'the Effects of Value Orientation, Leadership, & Justice of/Posed by the Salesmen of a IT Company on Organizational Citizenship Behavior & Corporate Performance' based on the phenomena of unfair sales strategies rampantly being taken for short-term profits & survivals despite of the value of upholding business ethics to realize long-term, sustainable growth of a business of company. The hypotheses of this study are formulated as follows. First, value orientation, leadership, & justice shall have effects on organizational citizenship behavior & Corporate performance. Second, adaptive selling practices shall function as the parameters between the independent & dependent variables. The analysis results on the research, undertaken with verification of parametric effects, confirm the following: 1. Value orientation imposes positive (+) effects on adaptive selling practices which impose positive (+) impacts on organizational citizenship behavior & Corporate performance. 2. Adaptive selling practices function as a full parameter between value orientation & organizational citizenship behavior whilst functioning as a partial parameter between value orientation & Corporate performance. 3. Leadership imposes positive (+) effects on adaptive selling practices which impose positive (+) effects on organizational citizenship behavior & Corporate performance. 4. Adaptive selling practices function as a partial parameter between leadership & organizational citizenship behavior whilst functioning as a full parameter between leadership & Corporate performance. Therefore, this study is concluded that establishing & executing sales strategies in consideration of value orientation & fairness is of extreme importance for IT companies to realize & maintain their sustainable corporate management, & last but not least, it is necessary for IT companies to proactively introduce & provide educational systems for their salesmen thus to help them to uphold & sustain ethics & values of the business.

• Management & Information Systems Review
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• v.1
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• pp.133-165
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• 1997

In the situation of Korean company today it is considered that the necessity of developing a corporate culture is not only more important than ever, but also indispensable to the organization management in the future. Focused on the development of corporate culture, the purpose of this study is to find out the influence of the direction of corporate culture development on its own strength. The method of this study is the empirical method based on theoretical one with the previous bibliographical studies. It is thought that in viewpoints of the culture pragmatists, the development of corporate culture means the intentional and systematic creation of culture. And, the direction of corporate culture development is thought as the management philosophy a corporate desires, or the desirous direction of corporate culture to express the management policy. According to the results of this study, it is found that the progressive direction of the corporate culture development has the most intensive influence on the various sides. Therefore, the management should research and develop the progressive value of culture more deeply, to get the effective development of corporate culture.

• 한국정보디스플레이학회:학술대회논문집
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• 2005.07b
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• pp.1008-1011
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• 2005

In this study, the field emission display with carbon nanotube emitter is developed for the large size HDTV application. Two structures for electron beam focusing are developed on the typical top-gate cathode. The metal grid and focusing gate structure are proved to be effective for the focusing. The data switching voltage for the double gate structure is lower than 30V which is competitive value in respect of the cost for driver electronics. The brightness and color gamut are comparable to those of the commercial product such as CRT.

• International Journal of Internet, Broadcasting and Communication
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• v.13 no.2
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• pp.20-26
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• 2021

Considering the role of a financial analyst that directly affects investors as an information mediator, management's decision to disclose to maximize corporate value will have an important impact on investors as well. On the other hand, whether or not managers vary the level of disclosure depending on the corporate form will have great implications for policy authorities. However, there is no domestic research on the relationship between the corporate form and the quality of voluntary disclosure. Our study shows that the corporate form tends to deepen the negative relationship between the proprietary information cost and the quality of disclosure. Examining whether the relationship between proprietary information cost and management disclosure decision making is valid for domestic companies is expected to provide meaningful implications for investors and regulators. Depending on the corporate form, if an entity makes a discriminatory disclosure, the cost of capital will be affected. A more in-depth follow-up study on this should be done.