• KDI Journal of Economic Policy
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• 제38권3호
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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.

• 보건의료산업학회지
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• 제9권4호
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• pp.183-196
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• 2015

Objectives : The purpose of this study was to analyze the factors affecting the level of subjective health recovery among injured workers. The aim in this study was to find an efficient worker's compensation service for subjective health recovery among injured workers. Methods : From the 1st panel study of worker's compensation insurance, data for 2,000 injured workers was analyzed with SPSS 22.0 and AMOS 22.0. Results : There was a statistically significant difference in the level of self-perceived health recovery depending on socio-demographic characteristics, disability characteristics and medical care services. Factors such as gender, education level, socio-economic level, disability level, claim duration, and treatment duration appropriacy affected the level of self-perceived health recovery. Conclusions : Worker's compensation services should take into consideration the factors that affect the health recovery of injured workers.

• KDI Journal of Economic Policy
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• 제41권2호
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• pp.59-79
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• 2019

This study analyzes whether mutual fund distributors are more likely to recommend products with higher sales compensation to maximize their profit. The lists of the 'fund of the month' on their webpages are utilized from April of 2015 to August of 2015. A simple comparative analysis shows that the average sales fees and the average front-end load are significantly higher in the recommended funds among the A share class of domestic equity funds. The results of a regression analysis confirm that funds with high sales compensation levels are more likely to be recommended. This holds true for both domestic equity funds and hybrid bond funds even after controlling for fund age, fund size, and past returns.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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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.

• 노동경제논집
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• 제39권1호
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• pp.33-55
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• 2016

본 연구는 근로환경이 근로자의 객관적 주관적 보상과 어떠한 관계를 가지는지를 분석함으로써 한국노동시장에 나쁜 근로환경에 대한 보상이 존재하는지를 확인하고 시사점을 제공한다. 근로자가 당면하고 있는 다양한 근로환경과 보상지표를 제공하는 한국근로환경조사(KWCS) 자료를 사용하여 분석한 결과 나쁜 근로환경을 대표하는 위험성은 임금과 유의미한 관계를 보이지 않는 반면 보상만족도와는 부(-)의 관계로 나타난다. 이는 근로자들은 나쁜 근로환경에 대한 보상이 이루어져야 한다고 인식하고 있으나 실제 노동시장에서는 금전적 보상이 이루어지지 않는다는 것을 시사한다. 또한, 노동시장에서 물리적인 위험요인보다 정신적인 위험요인에 대한 기대 보상수준이 높게 나타나며, 이러한 경향은 남성에 비해 여성이 더 크게 나타난다.

• 한국전자통신학회논문지
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• 제7권6호
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• pp.1505-1511
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• 2012

우리나라는 급격한 경제성장으로 주택, 공장, 공공용지 등 대량의 토지수요가 필요하게 되었으며 이에 따라 손실보상도 재산권보상에서 생활권보상으로 변화되어왔다. 본 논문은 실무상 생활대책제도의 문제점을 살펴보고 개선방안을 제시하고자 한다. 개선방안으로 첫째 토지보상법상 생활대책제도의 규정화, 둘째 양봉업과 같은 보상에 대한 요건 강화, 셋째 우선고용이나 취업알선, 직업훈련 등의 필요성을 제시하였다. 이러한 생활대책은 공영개발사업을 원활하게 할 수 있을 것이다.

• 전기학회논문지
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• 제67권5호
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• pp.611-616
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• 2018

In the cost based pool market in Korea, there is no compensation of reactive power because the fuel cost for reactive power is relatively low compared to that of active power. However, the change of energy paradigm in the future, such as widespread integration of distributed renewable energy source, will prevent the system operator from mandating the reactive power supply without any compensation. Thus, in this study, we propose the reference voltage of the 345 kV transmission system that minimizes the reactive power supply. This is closely related to the economic dispatch of reactive power aiming at minimizing the compensation cost for the reactive power service. In order to verify the effectiveness of the proposed reference voltage, the simulations are performed using the IEEE 14 bus system and the KEPCO real networks. The simulation results show that a voltage lower than the current reference value is recommended to reduce the reactive power supply and also suggest that the current voltage specification for the 345 kV system needs to be reviewed.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2008년도 춘계 학술논문 발표대회
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• pp.7-10
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• 2008

As the land price in the downtown area increases, buildings are becoming bigger, deeper and higher. Consequently, the importance of underground construction has increased. Although construction engineers make every effort to complete underground construction without any problem, construction failures like landslides and the collapse of a retaining wall occur because of the uncertainty of the soil conditions as well as the unexpected risks of excavation work. In order to prevent potential excavation accidents, it is essential to understand the causes and impacts of such accidents. However, there are only a few examples of construction failures, which show the economic impact on accidents during excavation because of the sensibility of the information. This paper presents two cases of excavation accidents, which were investigated by construction insurance company. The compensation for the accidents paid by the insurance company was compared with the estimated costs calculated based on the estimation method for excavation accidents proposed by our previous study. The comparison results showed that the estimate calculated by our method was much less than the actual compensation because the estimate solely focused on the construction costs whereas the compensation included other external factors.

• 한국프랜차이즈경영연구
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• 제12권2호
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• pp.35-49
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• 2021

Purpose: The major objective of this study is to develop a model for the impact of franchisors' Gapjil (verbal·nonverbal Gapjil, abusing bargaining position, refusing transaction, false or exaggerated information, restrictive practices, unfair damage compensation) on franchisee's recontract intention. We also examine the mediating role of economic satisfaction and social satisfaction in the relationship between franchisors' Gapjil and franchisee's contract intention. Research design, data, and methodology: Data were collected from franchisee owners located nationwide in Korea. Out of 256 questionaires distributed, a total of 256 questionnaires were returned. After excluding 10 invalid respondent questionnaires, we coded and analyzed 246 valid questionnaires (effective response rate of 96.09%) using frequency, confirmatory factor analysis, correlations analysis, and structural equation modeling with SPSS 22.O and SmartPLS 3.0. Results: The findings of this study are summarized as follows: First, among the Gapjil of the franchisors, restrictive practices and unfair damage compensation had negative effects on economic and social satisfaction, but verbal and nonverbal Gapjil for economic and social satisfaction was not significant. Second, abusing bargaining positions and false or exaggerated information had negative effects on social satisfaction, but for economic satisfaction, found to be insignificant. Third, economic and social satisfaction had positive effects on the franchisee's recontract intention to the franchisor. Conclusion: The following implications of this study are as follows. First, the construct of Gapjil that occurs between the franchisors and the franchisees was first presented, and the franchisors' Gapjil is divided into interpersonal Gapjil and structural Gapjil. Second, the Gapjil of the franchisors can be an important predictor variable in maintaining and developing a long-term relationship between the franchisors and the franchisees. Third, solving conflict due to the Gapjil problem between franchisors and franchisees can be an important factor for franchisors and franchisees to co-survive and thrive in Korean franchise system. Fourth, this study suggest that managing the Gapjil of the franchisors was a important antecedent factor in maintaining long-term relationship between the franchisors and the franchisees. Therefore, this study will help franchisors formulate effective symbiotic marketing strategies to satisfy relationships with franchisees and consequently enhance long-term orientation.

• 한국콘텐츠학회논문지
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• 제15권8호
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• pp.313-325
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• 2015

본 연구는 산재경험 고령자의 경제적 노후준비에 영향을 미치는 요인을 앤더슨모형을 적용하여 분석하고, 과거 산재당시 종사상지위에 따라 정규직 근로자와 비정규직 근로자로 구분해 경제적 노후준비의 영향요인을 분석하고자 하였다. 이를 위해 산재보험패널조사(PSWCI)의 1차년도 자료를 이용하여 로지스틱 회귀분석을 실시하였다. 연구결과, 선행요인에서는 학력이 높고 정규직인 근로자가 비정규직인 여성 근로자에 비해 경제적 노후준비 가능성이 높게 나타났다. 자원요인에서는 정규직, 비정규직 근로자 모두 근로소득이 많을수록 노후준비 가능성이 높게 나타났으나, 국민연금 가입여부는 경제적 노후준비에 도움을 주지못하였다. 비정규직 근로자에게는 건강보험 가입이 경제적 노후준비에 영향을 미치고 있었다. 욕구요인에서는 정규직과 비정규직 근로자 모두 산업재해로 인한 통증이 일상 및 삶을 방해하는 정도가 높을수록 경제적 노후준비에 취약함을 확인하였다. 이러한 연구결과를 토대로 하여 정책적 함의를 제시하였다.