• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.891-899
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• 2021

The United Nations' Millennium Development Goals (MDG) has become a goal to create a sustainable life. The MDGs' target was to be achieved in 2015, but it missed that date. The MDGs' target has turned into a Sustainable Development Goals (SDGs) to be achieved by 2030 The SDGs require financial support from companies. Funds are one of the resources to implement the SDGs. Government and private companies need to cooperate in achieving the SDGs target. The company has a responsibility to implement corporate social responsibility. The company's corporate social responsibility is part of the implementation of sustainable development in the SDGs. One of the essential industries that have responsibility for SDGs is the financial industry. This study aims to examine the determinant of corporate social responsibility funds in financial institutions in ASEAN countries. This study uses panel data to test the determinant variables on CSF provision. This study uses 45 sustainable development reports from 2015-2019. The total number of banks in the sample came from three countries, namely, Indonesia, Malaysia, and Thailand. This study concludes that firm size, profitability, efficiency, and the age of the CEO are variables that influence the size of corporate social responsibility funds.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.13-17
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• 2013

Leadership is one of the most widely explored subjects in the field of management. A variety of papers on leadership, however, still have insufficient aspects to reveal the theoretical logic about the CEO leadership itself. Such research, especially focused on organizational performance, tend to concentrate on the CEO's behavior rather than leadership because CEO's behavioral trait as an explanatory variable is useful to connect with firms' performance. Our purpose is to show how the characteristic of CEO leadership can be built at the organizational level. For a detail, the larger the firms' size, the greater the degree of CEO's charismatic leadership. The larger the degree of a firm's diversification, the greater the degree of the CEO's transformational leadership. And the less the degree of a firm's diversification, the greater the degree of the CEO's transactional leadership. This theoretical paper on CEO leadership suggests that the characteristics of CEO should be adaptable to the changing institutions and organizational environments.

• Journal of the Korean Operations Research and Management Science Society
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• v.37 no.2
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• pp.89-111
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• 2012

Coalition loyalty programs, loyalty cash-back programs that enable their members to accrue and redeem points at a wide-range of affiliated outlets, are emerging. In a coalition loyalty program, unlike in a single-brand loyalty program, points accrued from one outlet can be redeemed in other outlets which even may be of other brands than the very one where the points were from. However, in spite of such systematic characteristic of coalition loyalty programs, there is only little research on the effect of the program. The present study is aimed at examining the difference between the effects of a coalition and a single-brand loyalty program in terms of acquisition and retention of customers and tries to provide strategic implications for a firm to run a loyalty program. We classify purchase conditions into two types-acquisition vs. retention. Then we compare the effects of a coalition and a single-brand loyalty program on the purchase intention, under both the acquisition and the retention conditions. The result shows that the effect of the coalition loyalty program is stronger than that of the single-brand loyalty program under the acquisition condition. On the other hands, the single-brand loyalty program is more effective than the coalition loyalty program under the retention condition, at least for the minor brand.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.49-55
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• 2018

Purpose - This paper examines the effect of related party transactions on crash firm-specific stock price crash risk. Ownership of a typical Korean conglomerate is concentrated in a single family. In those entities, management and board positions are often filled by family members. Therefore, a dominant shareholder can benefit from related party transactions. In Korea, firms have to report related party transactions in financial statement footnotes. However, those are not disclosed in detail. The more related party transactions are the greater information risk. Thus, companies with related party transactions are likely to experience stock price crashes. Research design, data, and methodology - 2,598 firm-year observations are used for the main analysis. Those samples are from TS2000 database from 2009 to 2013, and the database covers KOSPI-listed firms in Korea. The proxy for related party transactions (RTP) is calculated by dividing total transactions to the related-party by total sales. A dummy variable is used as a dependent variable (CRASH) in the regression model. Logistic regression is used to explain the relationship between related party transactions and crash risk. Then, the sample was separated into two groups; tunneling firms and propping firms. The relation between related party transactions and crash risk variances with features of the transaction were investigated. Results - Using a sample of KOSPI-listed firms in TS2000 database for the period of 2009-2013, I find that stock price crash risk increases as the trade volume of related-party transactions increases. Specifically, I find that the coefficient of RPT is significantly positive, supporting the prediction. In addition, this relationship is strong and robust in tunneling firms. Conclusions - The results report that firms with related party transactions are more likely to experience stock price crashes. The results mean that related party transactions increase the possibility of future stock price crashes by enlarging information asymmetry between controlling shareholders and minority shareholders. In case of tunneling, it could be seen that related party transactions are positively associated with stock crash risk. The result implies that the characteristic of the transaction influences crash risk. This study is related to a literature that investigates the effect of related party transactions on the stock market.

• Archives of design research
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• v.9
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• pp.1101-1114
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• 1994

As of today-half a century has passed after 1945, the liberation from Japanese imperialism-it's significant to introspect our culture. On the one hand our culture has succeeded due to the peculiar history, but on the other hand it hasn't. So to speak, it has gained in Quantity but lost in Quality. There are keen, international competition and exchange in the modern culture. So the Qualitive success of modern design depends on if it had an original character or not. According to Korean rapid industrialization, technological extence, and economic growth, the export has increased greatly, but package design hasn't been match for them. Korean expoters have been meeting with cutthroat competition in world market. Under these circumstances it's very important that we have a real understand and interest in our culture, we strengthen the competitive power of home products with good package design. This is our age of not home market but world market. We live in an age when design wins, so that we have to develop the good design native to Korea. Many designers have proposed their opinions with the characteristic designs, but it has been only a fragmentary and passive method. We must seek for the new method more positively. The effective and proper method resolves itself into the following four points. First, to understand Korean history and culture. Second, to have the exact grip of this economic situation. Third, to promote the national emotion. Fourth, in conclusion, to accord the package design with them. We cannot put off this task to overcome the cultural subordination, to place Korea on a firm cultural basis in the world, and to contribute to the cultural exchange of package design. First, to understand Korean history and culture. Second, to have the exact grip of this economic situation. Third, to promote the national emotion. Fourth, in conclusion, to accord the package design with them. We cannot put off this task to overcome the cultural subordination, to place Korea on a firm cultural basis in the world, and to contribute to the cultural exchange of package design.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.9 no.7
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• pp.891-900
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• 2019

In this paper, we investigate the relationship between IPR creation and export activity. And we try to examine the effects of IPR use as innovation on export performance. The dataset used in the empirical analysis are the annual "Survey of Business Activity(2006~2014)" panel data which include total of 6,144 samples of firms. Data set includes the sample characteristic such as employee, industry, export performance, possession/use/development of IPR. According to analysis results, this paper confirms that R&D and export activities of firms make positive effects on IPR creation. In addition, this paper finds that IPR use of firms make positive effects on firm's export performance. Exporting firms achieve higher export performance by developing new products and processes to enter and compete in overseas markets. In addition, exporting firms can achieve higher performance by using intellectual property rights to appropriate innovation outcomes in foreign markets and to exclude the possibility of patent disputes in advance.

• Management & Information Systems Review
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• v.37 no.3
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• pp.147-171
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• 2018

The purpose of this study is to analyze the factors affecting cooperation between industry and public research institutes, in addition to the effects of cooperation between them; on technological and economic performance of firms. Based on existing research relating to the factors affecting industry-university-research institutes cooperation and the relationship between them and firm performance, this study selected the competence of government-funded research institutes, R&D capabilities and organizational characteristics of firms, and support of government and local governments; as factors influencing cooperation between industry and public research institutes. This study sets seven hypotheses on the relationship between the factors promoting industry-public research institute cooperation, technological performance and economic performance. A questionnaire survey was used to collect data for hypothesis testing and 116 questionnaires were completed and used in this research. The PLS-MGA was used as a method for hypothesis testing. In the analysis results, we found that the competence of government-funded research institutes, organizational characteristics of firms, and the support of government and local governments have a positive impact on cooperation between industry and public research institutes. We also found that the collaboration between industry and public research institutes, positively affects firms' technological performance. In addition, we found that the technological performance of a firm, positively affects a firms' economic performance. On the other hand, firms' R&D capabilities have no significant effect on cooperation between industry and public research institutes, and industry-public research institute cooperation does not directly affect the economic performance of firms.

• Management & Information Systems Review
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• v.31 no.4
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• pp.33-56
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• 2012

The purposes of this paper are analysed the relationship between environmental regulation and financial performance in Korea. The financial performance of listed companies and Outside Auditing firms was evaluated by logistic regression. First, R&D investment is proportionally correlated with the ability to comply with environmental regulations. It can be explained increase of investment in R&D causes enhancement of compliance of environmental regulations with development of environmental technology. Second, statistical significance is not observed between financial aspects such as current ratio, debt-to-equity ratio, cash flow, and operating profit margin and the ability to comply with environmental regulations. It indicates high financial performance could not directly lead investment for the ability of that. Third, in terms of structural aspects, firm size and employees have a reliable correlation with compliance with environmental regulations due to high attention of larger firms for PR, and IR, while capital intensity and gravity, and exports do not. Finally, violation of environmental regulations is not affect by the controlling shareholder ownership.

• 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 Korea Trade
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• v.24 no.6
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• pp.1-18
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• 2020

Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.