• Journal of Distribution Science
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• v.16 no.11
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• pp.65-72
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• 2018

Purpose - The purpose of this research is to investigate the effect of ex ante governance mechanisms that can be exercised by franchisers on franchise contract compliance and various relationship outcomes. There are many previous studies on control mechanisms in inter-firm relationship, however, most studies focus on ex post governance mechanisms and identify the effects of behavior control and outcome control on performances. Based on transaction cost theory and agency theory, this study defines the ex ante governance mechanisms of franchisers as contractual completeness and extra contractual incentives. The author have examined the two ex ante control mechanisms on contract compliance, recontract intention, multi-shop running intention and opportunistic behaviors of franchisee. Research design, data, and methodology - In this study, 137 questionnaires of food and beverage franchise stores were collected through a specialized research company. The reliability and validity of the variables were analyzed using SPSS 18.0 and AMOS 18.0 programs and hypotheses were verified through the structural equation modeling. Results - As a result of hypothesis testing, contractual completeness and extra contractual incentives have a positive effect on the contract compliance of the franchisee. It is shown that franchisee's contract compliance has a positive effect on recontract intention and multi-shop running intention and has a negative effect on opportunistic behaviors. Conclusions - This study examines the ex ante governance mechanisms such as contractual completeness and extra contractual incentives, which is relatively rare compared to ex post governance mechanism in B2B relationship. According to the results of this research, these two tools can be used as ex ante control mechanisms for franchise headquarters to use their franchisees. In addition, franchisee's contract compliance affects various relationship outcomes between franchisor and franchisees.

• Journal of Korea Society of Industrial Information Systems
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• v.24 no.1
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• pp.81-94
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• 2019

The corporate social responsibility has become an industry norm, and the majority of companies have adopted corporate social responsibility (CSR) activities due to institutional pressure. This paper suggests that chief executive officer (CEO) characteristics and governance mechanisms such as CEOs hubris, outside directors, and foreign ownership can influence a managerial decision of following the norm in adopting CSR. This paper argues that a CEO with hubris carry out CSR considerably less or more than a CEO without hubris because a CEO with hubris are known to have a tendency to refuse to follow the norm from institutional pressure. On the contrary, corporate governance mechanisms can guide a CEO to follow the industrial norm related to CSR because governance mechanisms tend to control CEO to reduce managerial uncertainty. The results show that CEO with hubris has a positive relationship with the degree of CSR deviation while governance mechanisms have a negative relationship. In addition, governance mechanisms negatively moderate the relationship between CEO with hubris and with the degree of CSR deviation.

• Journal of Information Processing Systems
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• v.15 no.2
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• pp.261-270
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• 2019

In order to protect secret digital documents against vulnerabilities while communicating, steganography algorithms are applied. It protects a digital file from unauthorized access by hiding the entire content. Pixel-value-difference being a method from spatial domain steganography utilizes the difference gap between neighbor pixels to fulfill the same. The proposed approach is a block-wise embedding process where blocks of variable size are chosen from the cover image, therefore, a stream of secret digital contents is hidden. Least significant bit (LSB) substitution method is applied as an adaptive mechanism and optimal pixel adjustment process (OPAP) is used to minimize the error rate. The proposed application succeeds to maintain good hiding capacity and better signal-to-noise ratio when compared against other existing methods. Any means of digital communication specially e-Governance applications could be highly benefited from this approach.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.4
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• pp.71-80
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• 2020

The paper examines the influence of corporate governance (CG) and earning quality (EQ) on corporate value (FV) of Vietnamese enterprises. The study uses GLS regression and linear structure model using data collected from companies listing on the stock market in Vietnam during 2008-2018, with a total of 2,937 observations. The research results indicate that EQ and CG represented by the Integrated Board of Directors and the Integrated Supervisory Board have a positive effect on FV directly and indirectly. The results show that the Integrated Board of Directors has a positive effect on EQ, whereas the Integrated Supervisory Board has a negative effect on EQ. Based on the research results, we suggest that companies need to strictly comply and implement GC, so to bring down the agency cost and consequently to increase performance. The companies also should establish the Board of Director of a proper size, with financial and accounting specialty, and including women board members. The government also needs to improve the management mechanism asking for firms to prepare and publish financial statements with reliable company information, which could be provided to users. These recommendations are a useful basis to help businesses improve FV via changes in the corporate governance factors in each enterprise.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.369-379
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• 2021

This paper investigated the relationship between corporate governance mechanisms and firm performance in Vietnam. Based on a dataset of 101 HOSE-listed manufacturing firms, the results showed that CEOs' knowledge capability, gender diversity, and board size are positively associated with firm performance, whereas firm age is negatively associated. These findings suggested that firms should consider enlarging the boardrooms, but to a certain extent to avoid an inverse-U-shaped decline of performance; furthermore, firms should promote women executives' presence in a boardroom for it brings greater cultural-diversity benefits and inhibits information asymmetry. Contrary, the aging process impedes firms' growth. It depreciates their values in terms of total assets, so managers must review their assets' net value after each working year to avoid such a hardship. However, the thesis constrains itself since it did not treat the TMTs' knowledge capability equally as the CEOs' and completely excluded their treatment. Besides, it did not regard the effect of external governance mechanisms such as the supply-demand relationship, customer behavior, market imperfections, and market concentration due to data unavailability. Based on the main findings, several suggestions are set forth for firms and managers to enhance performance and minimize a poor governance mechanism's adverse consequence.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.245-254
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• 2021

This paper examines the impact of corporate governance strength on capital structure in an emerging country, namely, Jordan, by constructing a corporate governance score that captures both internal monitoring mechanisms (foreign ownership and institutional ownership) and external monitoring mechanism (audit fees). In addition, this study uses profitability as control variable. This paper uses data of non-financial companies (industrial and services) of 87 listed firms on Amman Stock Exchange (ASE) from 2011 to 2019. Using the random-effects generalized least square (GLS) regression model, the findings reveal that foreign ownership significantly and negatively influences the level leverage, while institutional ownership has a positive and insignificant association with level leverage. Further, audit fees have a positive and strong significant association with level leverage in Jordan. In addition, profitability has a positive and significant association with leverage. These outcomes suggest that foreign ownership should be encouraged in listed companies as it can replace the weakness of other corporate governance mechanisms in Jordan. The outcomes of the current study should be of great interest to regulators and policy-makers. The results, which are robust to a range of alternative proxies and to additional tests, provide new insights into the determinants of level leverage.

• Journal of Korea Technology Innovation Society
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• v.16 no.1
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• pp.199-229
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• 2013

S&T policy long treated as a sector policy is now solidifying its position as an infrastructure innovation policy that forms the foundation for many different policies. There is a growing need for enhancing the linkage and integration between policies by strengthening planning and coordination functions of the government organizations in charge of innovation policy. The major countries including Japan, U.S., Finland elevated planning and coordination roles and emphasized the interaction between S&T-society and innovation governance in response to emergence of the third-generation innovation policy. This study deal with several issues related STI governance from the post-catchup innovation and holistic innovation policy and examine arguments on governance design. And then new schemes and alternatives of 1)governance design for sustainability, 2)design of policy coordination and integration mechanism, 3)reorganization of S&T administration system will be discussed.

• Journal of Korea Port Economic Association
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• v.29 no.3
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• pp.135-158
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• 2013

There have been many conflicts in Pyeongtaek-Dangjin Port among central government, metropolitan council, and cities over the jurisdiction of reclaimed port area, an international passenger terminal construction and a bridge between the port and Dangjin area. This study found out two causes for the conflicts in terms of governance. First, the current governance structure of Pyeongtaek-Dangjin port has high levels of conflict and disputes among stakeholder. Second, there is no leading agency which is responsible for the future development of the port. It is very important to decrease the possibility of conflict and to establish leading agency. Measures to decrease the likelihood of conflict include establishment of conflict resolution mechanism, the clarification of the facts and applicable law, mutual exchanges between stakeholder. Measures to establish a leading agency include the introduction of a single governance, establishment of Pyeongtaek-Dangjin Port Authority, central-local combined governance, and empowering PA to do all port management.

• Informatization Policy
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• v.30 no.3
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• pp.29-48
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• 2023

This study aims to investigate empirically the structural relationships among the components of data governance and their impacts on data integration and data-based administration. Through literature review, various definitions, typologies, and case studies of data governance were examined, with the definition of data governance from a public policy perspective developed and applied. The study then analyzed the data from a survey conducted by the Korea Institute of Public Administration on the use of public data policies and confirmed that organizational factors play a mediating role between institutional and technical factors, and that institutional and technical factors have statistically significant positive relationships with data fusion and data-driven administration. Based on these results, interest and investment in the improvement and development of the legal system in data governance from the institutional, technical, and organizational perspective, clarification of means and purposes of data technology, interest in data organizations and human resources, and practical operation can be achieved. Policy implications such as the development of an effective mechanism were presented.

• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.379-409
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• 2007

Korea's energy sector was one of policy sectors that exhibited the classical bureaucratic governance of an administrative state. Under the regime, government monopolized the policy-making process and controled the market and the civil society. It not only provided energy goods and services directly through public enterprises but also dominated the market activities through public regulations. However, during 1993~2002, stringent reformation efforts were made to transform the governance regime from the past bureaucratic model to the market model, by way of privatization of public enterprises and deregulation. The ideology behind the reformation based on the shared recognition that the market and spontaneous order thereof is the better apparatus than the government and artificial order thereof in solving social problems mote efficiently. From the year of 2003, another round of reformation efforts have been promoted to introduce the participatory governance model, through institutionalization of channels for the wider participation of civil society into the energy policy-making process. This reformation efforts respond to; first, the increasing criticism from the civil society on the closedness of energy policy process and the higher probability of policy failures thereof, and second, the recognition that the self-organizing nature of an open policy process is the better mechanism for evolutionary problem-solving.