• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.861-872
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• 2021

This study examines the relationship between board characteristics and capital structure. Data was collected from the annual reports of listed companies in the Stock Exchange of Thailand, from 2015 to 2017, which totaled 1,264 firm-year observations. The study uses multiple regression analysis to analyses the data by using independent variables, including board size, outside directors, managerial ownership, CEO duality, frequency of board meetings, board experience, and gender to measure board characteristics and the total debt ratio for capital structure. Research findings show that the more independent the directors are, the lower the cost of debt financing is, as they control the management team more strictly about debt financing than directors with less independence do. Additionally, the results reveal that the higher the percentage of managerial ownership, the higher the level of leverage and debt financing, whereas board size and board meetings have a negative relationship to capital structure. Further research showed that firm size, growth opportunities and corporate governance rating all had a positive significant impact on capital structure. The findings of this study suggest that the presence of proper corporate governance leads to better funding mechanisms as it ensures that the company is in a better position to obtain external funding.

• Journal of the Korean Applied Science and Technology
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• v.38 no.1
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• pp.147-156
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• 2021

In order for life-sports to develop sports policies need to be addressed in the conceptual categories of sports welfare policies. Beyond the concept of sports welfare, it must be recognized as an important part of general welfare to further increase the effectiveness of sports welfare policies. And for sports welfare policies to be effectively delivered to the target people, it need to be incorporated into a national-level policy system such as a general welfare system. In this study sports welfare governance and Exclusive Organization Policy Model was proposed as one of the ways in which sports welfare policies were incorporated into a national delivery system.

• Journal of Distribution Science
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• v.14 no.9
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• pp.15-24
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• 2016

Purpose - Key account management is a supplier company initiated relational approach that has received great attention from both academics and practitioners manifested in the business-to-business relationship literatures. However, there is widespread debate and contention on what should be the underlying theoretical base for defining this vital part of relationship marketing. With the insights from the social exchange theory, present paper explores how social exchange affects the dynamic nature of key account management relationship at the organizational level. Research design, data, and methodology - The paper follows a comprehensive review approach to examine the relationship between social exchange theory and key account management approach. Conceptual arguments and findings are assessed across studies with the main objective of showing how social exchange theory develops the governance mechanism in maintaining the key account relationship. Results - Since relational norm is considered as a glue for the maintenance of buyer-seller relationship in social exchange theory, factors develop the non-contractual governance mechanism 'relationship' in business-to-business relationship and this norm replaces or supplements more formal governance mechanisms such as contracts are explored. Conclusions - This paper advances central relational norm to manage the company's most important key customers and demonstrates how this norm can be developed in buyer-seller key account relationship. Implications from this new perspective are forwarded.

• The Journal of Information Systems
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• v.30 no.1
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• pp.123-149
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• 2021

Purpose The purpose of this study is to define the anti-ESG activities of companies recognized by media by reflecting ESG recently attracted attention. This study extracts keywords for ESG controversies through association rule mining. Design/methodology/approach A research framework is designed to extract keywords for ESG controversies as follows: 1) From DeepSearch DB, we collect 23,837 articles on anti-ESG activities exposed to 130 media from 2013 to 2018 of 294 listed companies with ESG ratings 2) We set keywords related to environment, social, and governance, and delete or merge them with other keywords based on the support, confidence, and lift derived from association rule mining. 3) We illustrate the importance of keywords and the relevance between keywords through density, degree centrality, and closeness centrality on network analysis. Findings We identify a total of 26 keywords for ESG controversies. 'Gapjil' records the highest frequency, followed by 'corruption', 'bribery', and 'collusion'. Out of the 26 keywords, 16 are related to governance, 8 to social, and 2 to environment. The keywords ranked high are mostly related to the responsibility of shareholders within corporate governance. ESG controversies associated with social issues are often related to unfair trade. As a result of confidence analysis, the keywords related to social and governance are clustered and the probability of mutual occurrence between keywords is high within each group. In particular, in the case of "owner's arrest", it is caused by "bribery" and "misappropriation" with an 80% confidence level. The result of network analysis shows that 'corruption' is located in the center, which is the most likely to occur alone, and is highly related to 'breach of duty', 'embezzlement', and 'bribery'.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.340-350
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• 2016

The Medical Service Act of Korea describes a clinic as providing services primarily to outpatients, while a large general hospital provides specialized medical services requiring a high level of expertise for treating serious diseases. The portion of medical revenue for clinics has been decreasing gradually compared with large hospitals. This article proposes two fundamental medical policies to fix the distorted medical delivery system of Korea. Firstly, uniform additional medical remuneration rates based on the type of medial institution should be divided into outpatient additional rates and inpatient additional rates. Secondly, to normalize the function of clinics and large general hospitals, an outpatient medical target budget system should be introduced. Finally, to properly implement the proposal, it is important to establish healthcare policy-making governance. The success of policy implementation strongly depends on the participation and incentives of the government, suppliers, and patients. Healthcare policy-making governance must be designed to encompass this fact and improve quality of care.

• Informatization Policy
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• v.28 no.2
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• pp.98-113
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• 2021

This study presents implications of the Global Data Law & Policy by comparing national data strategies, data regulations and policies, and governance in South Korea, the United States, the United Kingdom, and the European Union. According to the result of the comparative analysis, the biggest difference is in data governance, in other words, the management and coordination of policies at the pan-government level and data ethics. Therefore, this study proposes the establishment of a presidential special committee on data policy or the creation of a 'National Digital Innovation Office' at the Presidential Secretariat as a national CDO for the governance of data policies. Furthermore, this paper suggests a) to enact 'the Framework Act on the Development of Data Industry' that can regulate data practices in the private sector, b) to institutionalize the data-centric security and data protection, c) to settle the public ethics and personnel management based on data expertise and professional ethics, including explainability and responsibility, and d) the education and training systems.

• KIPS Transactions on Software and Data Engineering
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• v.8 no.8
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• pp.323-330
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• 2019

In order to improve the level of the IT organization, CMMi played a lot of roles in improving the IT efficiency and quality step by step. In a university organization if you use a customized IT governance framework for the concept of CMMi, it will be a university IT governance to realize the vision of the university. In this paper, we propose Staged Framework for the university developed for applying to university with reference to this staged model of CMMi. The university has applied its own process step by step and it can be uses in the university field. So it can be applied to university IT plan and budget in compliance with not only the person in charge of IT service center but the person in charge of university headquarters. The staged framework is classified into the maturity and process of university IT project and suggests ways to apply it to the improvement of university IT system levels.

• Journal of the Korean Regional Science Association
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• v.33 no.1
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• pp.69-85
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• 2017

The positive changes in urban space and urban activities resulting from the urban services provided by Smart City is not accomplished by simply creating the physical environment built on ICT but through the cooperation and participation of citizens and private sector, which is in fact key to success. In this study, this research analyzed the role and structure of smart governance, which is a system of horizontal cooperation between public and private sector, and analyze its role in developing Smart City. The study also proposes various ways to facilitate such development in each of critical categories. For this purpose, this research studied 228 smart services across 11 categories registered in the Ministry of Land and Transport in Korea to analyze the spatial distribution of smart services by spatial hierarchy and their characteristics Also, the research conducted a case study of MetroGIS, which is an information collaboration governance system for the greater area of Minneapolis and St. Paul in the state of Minnesota, United States, to explore how governance is formed; its organizational structure; the role of sub-level organization hierarchy and their interrelationship. The results of the analysis suggest that the following conditions are required to create a smart city: first, public sector resource assistance for building community; second, enhanced communication system within the community and with outside the community; securing financial stability and establishing a model of sustainable development to induce the community to evolve into a governance form.

• Journal of Korean Society of Rural Planning
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• v.25 no.1
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• pp.39-50
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• 2019

The purpose of this study is to figure out the current condition of local governments (Si or Gun) to implement rural development policy in the face of the central government's drive for increasing devolution. Since late 1990s or early 2000s when scope of rural policy began to expand quantitatively, there has been considerable increase in rural residents' participation into community projects as a whole. Nevertheless, there exists regional differentiation in local governments' efforts to systematically support rural development projects (CRDP: Comprehensive Rural Development Programme) and community activities by setting up intermediary organizations or hiring rural development professionals in a public office. According to this survey on local government officials, regions that have made such efforts to support rural policy at a local level, show more advanced level of institutional capacity than other regions in local decision making process for CRDP, role of strategic rural developmental plans, vitality of community actors, etc. In the era of increasing devolution, these differences can be expected to result in diverging performances of each area in regionalized rural policy. The central government needs to introduce EU's LEADER-type rural development programmes to support community acitivities by various local actors and at the same time promote local governance building for rural policy, adopting institutional rewarding system such as rural planning contract.

• Management & Information Systems Review
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• v.24
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• pp.1-24
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• 2008

This paper examines the direct effects of board independence and also its interaction effects with CEO's firm specific experience on firm performance. The findings in an hierarchial regression analysis of multiyear sample of computer hardware companies indicate that independent, outsider directors are beneficial to firms' performance when CEO has high-level of firm specific experience whereas it is harmful when CEO has low-level of firm specific experience. However, separating the positions of board chair and chief executive officer that has been used as another means for increasing board independence does not influence to firms' performance. These findings imply that researchers in corporate governance should reconsider the relative weight placed on directors' monitoring and assistance role. Rather than focusing predominantly on directors' willingness or ability to control executives, in future research scholars should yield more productive results by focusing on the assistance directors provide in bringing valued resources to the CEOs and in serving as a source of advice and counsel especially for CEO's improvement of management technique. In addition, they should pay more attention on identifying intervening processes between board and firm performance in order to provide optimal governance mechanisms and configurations to practitioners.