• The Journal of the Korea Contents Association
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• v.19 no.4
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• pp.394-402
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• 2019

This study examines the effect of managerial ownership on the value of firms' cash holdings. According to the management entrenchment hypothesis, managers have incentives to make decisions that can undermine shareholders' value for their own private interests. In this situation, as the managerial ownership increases, investors may evaluate that the cash held by the company may be utilized inefficiently and the value of the cash holdings may decrease. On the other hand, based on the incentive alignment hypothesis, the value of cash holdings may increase as investors perceive cash holdings to be effectively used to increase corporate value as managers' interests are in agreement with shareholders. Empirical results show that the value of cash holdings decreased as managerial ownership increased. This study finds a contribution in that it presents empirical evidence on whether the cash held by the company is differentially evaluated according to the level of the managerial ownership.

• Korean Journal of Cognitive Science
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• v.34 no.3
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• pp.243-257
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• 2023

This paper aims to examine how proprioception provides a sense of ownership over one's body and physical actions. Proprioception is a sense that relies on somatic interoceptors rather than exteroceptors that receive external stimuli and has epistemic importance of knowing the presence, location, and movement of bodily parts. In this paper, I will argue that Shoemaker's principle, "Immunity to Error through Misidentification (IEM)" can be applied to proprioception by focusing on one of the intrinsic features of proprioception: First-Person Perspective. I will advocate the following two arguments by defeating each of Marcel's pathological counter-examples in turn. Proprioception is infallible in that it provides a sense of ownership over one's body and physical actions. Second, proprioception is indispensable for the sense of ownership of one's body and physical actions.

• Journal of Korean Critical Care Nursing
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• v.16 no.3
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• pp.62-72
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• 2023

Purpose : This study aims to assess the extent of work value, psychological ownership, the nursing work environment, and retention intention, examine the correlation between these variables, and identify the factors that influence retention intention. The goal is to provide foundational data to enhance retention intention. Method : The study involved 159 nurses employed at a tertiary general hospital and a general hospital. Data were gathered through structured questionnaires and analyzed using an independent t-test, one-way ANOVA, Scheffé test, Pearson correlation coefficient, and multiple regression analysis with a simultaneous stepwise method, all conducted using the SPSS 26.0 software. Results : The intention to remain in the profession was found to have a positive correlation with work value (r = .45, p < .001), psychological ownership (r = .37, p < .001), and the nursing work environment (r = .27, p = .001). Significant factors influencing the intention to stay included total clinical career (𝛽 = .17, p = .016), work value (𝛽 = .38, p < .001), and psychological ownership (𝛽 = .19, p = .020). These variables accounted for 24.1% of the variance in the intention to remain in the profession (F = 17.71, p < .001). Conclusion: To enhance the intention of hospital staff to remain in their positions, it is crucial to identify and bolster positive psychological competencies, such as a sense of work value and psychological ownership.

• Journal of Venture Innovation
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• v.3 no.2
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• pp.95-109
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• 2020

The source of value-added creation in modern times has been transformed from material to man's value-added generating power, and ownership of the means of production has been converted from a particular landlord, capitalist to a person with value-added capacity, and a system of capital participation is needed beyond the profit-sharing system or performance incentive system in which workers of an enterprise participate in simple profits if they significantly increase the added value of the company. It is also necessary to introduce our private stock system as a means of addressing the problem of capital bias and for the stable development of capitalism. The purpose of Employee Stock Ownership Plans is to improve the economic and social status of workers and promote labor-management cooperation by allowing workers to acquire and hold shares of the stock company in which the employee ownership association is established through the employee ownership association, but the reality is that our stock ownership system has failed to achieve its purpose due to insufficient protection against the employee. In terms of welfare, the acquisition of our company shares should include active government support for the welfare of workers' ownership on a social welfare level rather than on the logic of the capital market, and in terms of investment, it would not be appropriate to apply the regulation for investor protection to see workers' acquisition of our company shares as 'investment' in the view of workers' willingness to own shares on the stock market. Therefore, as a way to support and deregulate employee's stock acquisition, 1. Expanding direct support, such as tax support, 2. As employee's stock ownership association is being discussed as a division's nature, it is less effective in terms of various management, not investment, and 3. Those who own stocks with 1% of the company's shares and 300 million won in face value will be classified as major shareholders. As a way to reduce the risk of management of our company owners and cooperative funds, As a measure to reduce the risk of management of our company owners and cooperative funds, only our employee shareholders' association shall manage the fund in a long-term deposit, and even though our employee's stock is managed by the association or company after the end of the deposit period, the management of each employee shall be allowed and In terms of improving the utilization of our company's stock and fund, 1. Employee's stockholders are prohibited from lending during the deposit period, but it is necessary to improve profitability by allowing them to borrow under strict restrictions, 2. It is necessary to make the use of the employee's welfare funds available for the preservation of losses, and to stipulate the redemption obligations of unlisted companies in order to improve the redemption system of our company.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.305-313
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• 2019

The study examines whether higher CEO compensation is related to unobserved future firm performance in an emerging market, Pakistan. Further, it extends its scope to analyzing the impact of group affiliation and ownership concentration on the relationship between CEO compensation and future firm performance. The study uses an unbalanced panel data consisting of 1508 firm-year observations from 225 non-financial listed companies in Pakistan Stock Exchange (PSX) for period 2005 to 2012. The multiple regression models adjusted to heteroskedasticity and autocorrelation in error terms are used. The study finds that, in general, CEO compensation is positively associated with future operating performance. However, higher CEO compensation leads to lower operating performance in firms that have lower ownership concentration and are affiliated with business groups. When firms are not affiliated with any group and have high ownership concentration, the relationship between excessive CEO compensation and future operating performance becomes insignificant. Given that efficient compensation packages may lead to long term value creation to shareholders and reduce agency problems, this study highlights an important moderating role of ownership concentration and group affiliation of the firms in emerging markets.

• Journal of Korean Library and Information Science Society
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• v.27
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• pp.61-95
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• 1997

The purpose of this paper is to overview a recent dispute of the library of the 21st century in Korea and to suggest a desirable model of the future library. There are two visions of the future of library. The first is an access based library model(digital library) emphasizing the digital resources that are networked and browsable electronically. The second is an ownership-based library model(paper library) which emphasize the use of traditional print collections stored locally and physically browsable. A points of dispute between the paper library as storehouse and the digital library as gateway are an electronic informations versus printed materials, access versus ownership, information professional versus librarians. The idea that library as physical place and as cyberspace are diametrically o n.0, pposed is a fallacy and surrealistic opinion. Future library has to acquire, organize, preserve, and make accessible the collections that users want and need. In other words, future libraries need both ownership and access. Access to remote electronic resources must serve as a reasonable substitute for holdings of older material. Therefore, it is a balanced solution that the more heavily used or important materials be considered for ownership and selective information resources for access. No doubt, the traditional library and the digital library will be coexist in the 21 century.

• Land and Housing Review
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• v.4 no.1
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• pp.23-31
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• 2013

The regional economic crises in the late 1990s and the global economic crisis in the late 2000s had reduced the differences in housing policies among the major Asian economies. This paper attempts to explain and compare housing welfare policy shifts between subsidizing home owning and subsidized renting from the perspectives of the economic and social roles of housing, the lock-in effect of policy processes, and the welfare provision strategy of the East Asian economies. It argues that the impact of economic crises on housing welfare policy in East Asia depended on the duration and the intensity of the crisis and the length and severity of the subsequent economic depression. Another important factor was the role of housing in the economic and social development, especially whether housing market development was considered as an engine of economic growth or revival, and whether the tools of housing policy caused the economic crisis. The loss of impetus for home ownership drive and the new emphasis on rental subsidy provision are new policy trends. Nonetheless, the economic revival since mid-2009 has caused the re-introduction of home ownership subsidies for quenching the housing affordability problems and enhancing home ownership making use of the strong economic conditions.

• Korean Journal of Occupational Health Nursing
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• v.28 no.3
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• pp.166-175
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• 2019

Purpose: The purpose of the study was to identify factors affecting the innovative behavior of military hospital personnel. Methods: The study involved the analysis of 146 structured questionnaires received from military hospital personnel in D city and S city. Data were collected from January 10 to February 9, 2019. The SPSS/WIN 24.0 program was used for data analysis, which included the t-test, ANOVA, $Scheff{\acute{e}}$ test, Pearson's correlation coefficient, and multiple regression analysis. Results: The multiple regression analysis showed that factors affecting innovative behavior of military hospital staff were the natural reward strategies of self-leadership, behavior-focused strategies of self-leadership, and organization-based psychological ownership ($R^2=.30$). Conclusion: The results suggest that to promote innovative behavior in military hospital staff, it is necessary to implement strategies that inspire self-leadership and psychological ownership.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3062-3071
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• 2011

This study proposed to compare the performance differences between a manufacturing company and a construction company in accordance with the mutual relations and ownership structures with the management performance based on the increase or decrease of the large shareholders' share-holding ratio (insider ownership, foreign share-holding, institutional investors' share-holding) of a KOSPI listed company in Korea during 10 years(1998-2007). To sum up the research work, first, the increase of foreign share-holding supported the results of previous studies which foreign share-holding has a positive effect on the long term performance by having a positive(+) effect on MTB, and the increase of an insider ownership supported the management entrenchment hypothesis of previous studies by having a negative(-) effect on MTB. However, relations between institutional investors's share-holding and MTB could not find out linkages in spite of the results of previous studies where dealt with the active monitoring hypothesis. Also, to examine the linkages of ROA and the ownership structure, though the increases of foreign share-holding and insider ownership had a positive(+) effect on ROA, the increases of institutional investors' share-holding had a negative(-) effect on it. It showed different analysis results from the active monitoring hypothesis of institutional investors. As a result of verifying whether there is "any difference in the management performances between the construction industry and the manufacturing industry according to the equity structure" which is the second hypothesis, nothing of the insider ownership and whether or not there is the construction industry, foreign share-holding and whether or not there is the construction, and the institutional ownership and whether or not there is the construction industry gave a statistical difference to MTB and ROA. Accordingly, it was possible to find out there is no difference in the management performance between the construction industry and the manufacturing industry based on the ownership structure in spite of different characteristics from the manufacturing industry such as the revenue recognition in ordering, production and accounting.

• The Korean Society of Law and Medicine
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• v.18 no.1
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• pp.37-60
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• 2017

Ownership is the bundle of rights that allow a person or institute to use and control an object. As the biomedical science is advanced, we should consider whether human biological material should be recognized as property. Whether separated parts of the human body can be objects of ownership is a different issue. Many thought that separated parts of the human body could not be objects of ownership. This idea is primarily based on this thought: even if a piece of human biological material is separated from a person, it still relates to that person, and if treated as a thing, human dignity may be harmed. However, some commentators have admitted separated parts of the human body into the realm of property. Though a person owns his/her body or body parts, this does not mean that he/she can do anything he/she desires. There are many natural and social limitations to exercise the ownership of human biological material as discussed above. Human dignity is the core consideration whether or not we recognize that ownership of human biological material biomedical research and knowledge.