• The Journal of the Korea Contents Association
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• v.12 no.10
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• pp.169-177
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• 2012

Due to the influences of global financial crisis, countries are putting their efforts on the enhancement of appropriateness and transparency of director compensation. In several countries including Germany, the United States, the United Kingdom, France, and Italy, listed companies and financial institutions in certain levels make public announcement for compensations of individual directors, not the averages. Recently, even Asian countries including China, Hong Kong, and Singapore are introducing individual director compensation public announcement policies. On the other hand, in cases of companies, which must submit annual reports, under current Korean capital market laws and enforcement ordinances, they are obligated to mention 'total wage paid to all executives in that business year' on the annual report, but does not have to mention individual wages of each executive. About this, at the 17th national assembly, revised bill for the Securities and Exchange Act for companies to mention wages of each executive. The financial world is opposing to open individual director compensation to the public as they concern about the shrinking of outstanding human resources recruitment, breach of corporate confidence, privacy invasion, deterioration of labor-management relations, and downfall of the executive's management will as director compensation will be standardized downward; however, if public opening of individual director compensation is forced, domestic companies will prepare more objective and rational standards when they calculate director compensations, and moreover, it will prevent arbitrary intervention of dominant shareholders. Therefore, to clearly and efficiently control director compensation, we need regulations for obligating public opening of individual director compensation.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2007.06a
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• pp.390-391
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• 2007

We have studied improvement of light leakage of twisted nematic liquid crystal display (TN-LCD) in dark state using the hybrid aligned compensation film made of rod-like LC. When the voltage is applied properly to the TN-LCD, the director tilts up but LC director on the substrate don't tilts up due to surface anchoring energy of the LC cell. Accordingly, LC director from surface to middle LC of TN -LCD become hybrid state such as hybrid aligned film. Consequently, in this paper we achieve wide viewing angle performances of TN mode using developed hybrid aligned film which especially decreases light leakage at vertical direction in dark state.

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.17 no.5
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• pp.536-540
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• 2004

A novel nematic liquid crystal (LC) cell with splay structure exhibiting wide viewing angle, fast response time and high transmittance at the same time has been developed. With rubbed homeotropic alignment in parallel directions, the device shows bend alignment in the absence of vertical electric field. However, with applied high voltage in a pulse form, the LC shows a optically compensated splay (OCS) orientation such that the mid-director is parallel to a substrate and at both surfaces the LCs are aligned vertically in parallel direction. In the device, the birefringence of the cell becomes tunable with applying voltage, i.e., the amount of light passed through the cell can be controlled by controlling the orientation of the LC. Since the OCS cell has a self-compensation structure such that the LC has a mirror symmetry along the mid-director, the device shows a wide viewing angle with only a single domain and a fast response time.

• Journal of Korea Port Economic Association
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• v.20 no.2
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• pp.235-251
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• 2004

China's Marine Industry are growing up gradually as China's economy has advanced. Also China's Sipping Industry has been advanced. China Sipping Company is going to become a top 5 of world marine industry. China's Marine Industry has supervised and controled a manager under the mechanism of market economy. China's Marine Industry has been changed from the state-owned marine enterprise affected by government and government has effected on the formation of the board of directors and manager. So, the supervision function of the board of directors was reduced. The executive' role is emphasized when possessing the state-owned enterprise through disposal or auction, or when inducing the participation of foreign attraction. It is desirable for the Chinese director and officer to prepare for the claims internationally due to the international economic actions, , westernization of the public's consciousness about the compensation for damage followed by the increasing national income, and to prepare the increasing demand of cases due to increasing lawyers.

• KDI Journal of Economic Policy
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• v.38 no.3
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• pp.17-35
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• 2016

In many advanced countries, most outside directors are executives, active or retired, at other firms; in other words, executives from other companies make executive compensation decisions. This situation may hinder the board of directors (BOD) in their efforts to optimize executive compensation levels objectively. Using a panel data analysis of the S&P 1500 companies, we provide supplemental evidence of whether, and to what extent, the concurrent executive employment of outside directors distorts the executive pay decisions at a given company. An unbiased fixed-effect estimation confirms that a $1.00 increase in CEO pay at outside directors' primary companies results in an approximate increase of $0.22 in CEO pay at the given company. From a policy perspective, this added agency problem - caused by the BOD and not by management - is noted as difficult to control; although a firm may establish board independence, the inherent concurrent employment of directors on a board continues to exist.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.293-308
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• 2020

This study aims to investigate the direct relationship between ownership structure, earnings manipulation, and organizational performance, and then examine the mediating effect of earnings manipulation in the relationship between ownership structure and organizational performance. This study collected and analyzed secondary data published in financial reports related to all insurance organizations listed in the Jordanian market during the study period (from 2009 until 2018). A panel data analysis was conducted, giving a total of 200 observations. The findings of this study concluded that ownership concentration, foreign ownership, and organization size affect organizational performance proxied by ROA, ROE, and EPS, more specifically, ownership concentration and organization size have a positive effect, whereas foreign ownership has a negative effect. At the same time, board of director ownership, organizational ownership, and CEO compensation did not affect organizational performance. Next, the board of director ownership, ownership concentration, foreign ownership, and CEO compensation affect earnings manipulation separately. In addition, earnings manipulation positively affects organizational performance proxied by ROA, ROE and EPS. This means that the higher the earnings manipulation is, the higher the organizational performance is. Finally, earnings manipulation mediates the relationship between ownership concentration and foreign ownership of ownership structure, and organizational performance.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.91-101
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• 2019

This paper finds some stylized facts about executive pay in South Korea. Using aggregate data of the listed companies since 2002, we find that 1) the director's remuneration has risen faster than the employee compensation, thus, the pay ratio of executive and employee has escalated from 3.0 to 4.5; 2) the executive compensation for large business group fluctuates more widely than that for small and medium enterprises does, hence the pay ratio for large firms changes widely too; 3) the median pay ratio has not grown monotonically but it rather rises to remain still around year 2011, which is accounted for mostly by small and medium enterprises. New information on executive compensation by compulsory disclosure starting from 2013 made further analysis of CEO compensation attainable. Based on the conventional regression analysis for 2013-2017, we find that 1) the elasticity of CEO pay with respect to firm value is about 0.18; 2) the volatility of stock return is negatively related to CEO pay; 3) contemporaneous stock return is positively associated with the pay; 4) there is insufficient evidence that large business groups pay their CEOs more than small and medium enterprises do. These results are robust under various model specifications.

• Management & Information Systems Review
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• v.23
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• pp.75-97
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• 2007

In the meantime hospital system of Korea has institutionally performed its errand in stable circumstance, however the system now faces with new environment of change of customer's satisfaction, of regime, deepening of competition, and opening market. Under the rapidly and complicatedly changing circumstance, the hospital system is required to promote getting a dominant position in the competition, enhancing outcome, creating value added, and customer satisfaction in both internally and externally likewise other organizations, as they continuously introduce a knowledge management and originate, accumulate, and put the knowledge to practical use. This organization capacity of knowledge management involves a process of management that requires great change of all organizations and individuals and it is brought up through four steps which are Initiation, Propagation, Integration, and Networking. The main factors of successful knowledge management are intension of the chief executive officer(CEO), organizational culture, appraisal and compensation of work, knowledge controlling system, and organizational structure, and each of these five stage has got different characteristic. To be successful by introducing knowledge management, hospital organization should be based on these premises. Not only CEO or the director of a hospital, but also the constituent members should be fully aware of knowledge, the characteristic of knowledge management, and successful factors of this operation. Should understand step-by-step characteristic of knowledge management, therefore able to analyse a situation of specific hospital and see which step corresponds to that hospital. By analysing, constituents should make up for the weak points and ready to move on to next step. CEO or the director of a hospital should be aware of knowledge management as a strategic factor which is able to get a dominant position in the rapidly changing environment, and also it should be firm in the director's intention to introduce the knowledge management into the hospital. By continuously carrying out education and training constituent members, the director of a hospital should promote their interest and participation in knowledge management, and build an organization culture that ultimately creates, accumulates, shares, and put the knowledge to practical use. The hospital organization needs to systematize an institution of objective compensation that corresponds to objective appraisal of knowledge management outcome. The hospital ought to build knowledge controlling system in stages, in order to take the initiative in rapidly changing environment. By considering the characteristic of hospital system, it is required to change the organizational structure into self-managing team which is a sort of horizontal structure that allows members to make decisions and take the responsibility by themselves. The limitation of this study is experimental study. Positive investigation about successful factors of hospital knowledge management and characteristic of each steps is expected with following study.

• Journal of the Korea Society of Computer and Information
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• v.27 no.1
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• pp.183-191
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• 2022

The Korea Stewardship Code 'Principles on the Fiduciary Responsibilities of Institutional Investors' was introduced in 2016 and the National Pension Service adopted it in 2018. the National Pension Service casted 'dessent' vote on the agenda which is able to reduce the ownership interest of shareholder in general meeting. This paper examines whether 'dissent' voting affected on the ownership interest of shareholder or not. The 'dissent' vote on the agenda are related to revision artical of corperation, appointment or compensation of director and auditor, approval of financial statements ect. The proxies of earnings management is discretionary accruals calculated by modified Jones model. The control variablies are size of assets, liabilities per assets, returns on assets. The results of this study are as followings. First, the 'dissent' voting on the agenda are related to revision artical of corperation, M&A, approval of financial statements ect. are not significant because their sample size is too small, Second, the 'dissent' voting on appointment of director and auditor affected on reduction of discretionary accruals. So the National Pension Service activism shall affect on increasing the ownership interest of shareholder. Third, the 'dissent' voting on compensation of director and auditor is not affected on reduction of discretionary accruals. This results show that 'unconditional dissent voting' on the agenda in general meeting is not to reduce the ownership interest of shareholder.

• Journal of the Korean Institute of Electrical and Electronic Material Engineers
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• v.16 no.2
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• pp.131-137
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• 2003

We have performed computer simulation to obtain electro-optic chracteristics of reflective liquid crystal display (LCD) using wide viewing angle LC mode, fringe field switching(FFS). Unlike other reflective LCD modes, in the FFS mode, the LC director in plance so an application to reflective display consisted of polarizer, LC layer and reflector is possible. when an incident light is 550mm, the optimal cell retardation value is 0.1365${\mu}$m and the efficiency of reflectivity is high over 90% with very little wavelength dispersion. Further, we have studied a new reflective display with polarizer, optical compensation film with half plate, LC plus reflector. The display with optimized cell parameters shows high contrast ratio (CR) over 130 with high light efficiency over 90% at normal direction and the CR greater than 5 exists over 60$^{\circ}$ of polar angle in all directions.