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Chief Executive Officer Hubris and Corporate Social Responsibility in Korea: Moderating Role of Corporate Governance (최고경영자 휴브리스가 기업의 사회적 책임 활동 수준에 미치는 영향: 기업지배구조의 조절효과를 중심으로)

  • Park, Hyunjun;Choi, Wonyong
    • 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.

Components for Early Childhood Horticultural Education Program derived from Expert Delphi Research

  • Jeong, Yeojin;Kim, Mijin;Chang, Taegwon;Yun, Sukyoung
    • Journal of People, Plants, and Environment
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    • v.24 no.2
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    • pp.119-135
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    • 2021
  • Background and objective: This study was conducted to identify the components of kindergartener horticultural education by deriving objective components of horticultural education using the Delphi survey method, and then to provide basic data that can be used when creating horticultural programs in the regular curriculum. Methods: A total of 32 experts including professors of early childhood education, kindergarten directors, horticultural therapy professors, and horticultural therapists were selected as the Delphi panel. Of the 32 selected, only 29 answered all three rounds of the surveys. For the first round of the survey, an open-ended questionnaire, was used, and in the second and third rounds closed-ended questionnaires were used. Results: Results indicated that under the category of the goals of horticultural education, there were 7 items related to the current problems of horticultural education, 16 items related to the need for horticultural education in the smart age, 18 items related to the direction of horticultural education, and 5 items related to the areas most suitable for horticulture education for young children in the Nuri Curriculum. Results in the category of the implementation of horticultural education indicated that 2 items related to horticultural education hours, 3 items related to the venue for horticultural education, 2 items related to the activity types applicable to the Nuri Curriculum, and 4 items related to the objects of horticultural activities were derived. As the current problems of horticultural education, the following items were identified: event-oriented activity (M = 4.24) and lack of kindergarten teachers' opportunities for systematic gardening education (M = 4.21). The results related to the necessity of horticultural education indicated the following items: education on respect for life through caring (M = 4.59), emotional intelligence and stability (M = 4.55), directly experience of the growth process of plants (M = 4.55), and development of the five senses (M = 4.55). Finally, within the direction of horticultural education: nurturing the desire to live with nature (M = 4.50), and learning about life (M = 4.44) was identified, which had higher averages. Within the areas of the Nuri Curriculum, which is most consistent with horticultural education, nature exploration (M = 4.69) and the integration of all areas (M = 4.59) were derived as priorities. Also, regarding the implementation of horticultural education, the following items were derived as the priority from the expert group: 30-40 minutes (M = 4.14) and 40-50 minutes (M = 4.14) for class periods, outdoor garden in a kindergarten(M = 4.66) for the venue of gardening education, outside play (M = 4.59) for the activity type, and vegetable crops (M = 4.55) for the objects of gardening activities. Conclusion: It is significant that the goal and implementation of kindergartner horticultural education were objectively derived through collecting opinions of expert panels. Based on the results of this study, a horticultural education program for kindergarten teachers should be implemented.

CEO's Political Independence, Board Chair Separation, Executive's Expertise, and Performance in State-Owned Enterprises (공기업 CEO의 정치적 독립성, 이사회 의장 분리, 임원의 전문성과 성과)

  • Yu, Seungwon
    • KDI Journal of Economic Policy
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    • v.35 no.2
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    • pp.1-39
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    • 2013
  • Considering the relationship between state-owned enterprise (SOE) CEOs and political circles, this study examines the performance impacts of CEO's succession type, board chair separation, and industry expertise and finance expertise of CEOs and outside directors. I propose the definition of political independence in SOE CEOs based on the independence in appearance that might affect general people's perception. It means that there are no relationships or circumstances that might affect SOE CEO's judgment, activity, and report. The definition is able to overcome the limitations of the prior research that could not discover the CEOs who were affiliated to political circles because the research just distinguished the CEOs following their pre-jobs. This study focused on the performance impacts of political independence impaired CEO as well as the CEO's impacts on the relationship between the performance and other corporate governance variables. I selected as dependent variables the average return on asset as operating income divided by total assets and the average customer satisfaction rate evaluated by Korean government during the first three years following the year of the events of explanatory variables. My theory and evidence from the various CEO's personal background and financial information from SOEs in Lee Myung-bak Administration and Rho Moo-hyun Administration suggest the following important things. First, the analysis based on whether or not a SOE CEO keeps political independence shows that a political independence impaired CEO made a significantly negative impact on customer satisfaction rate. Second, the separation between a board chair and a CEO in SOEs introduced by Korean Act on Management of Public Institutions made a significantly positive impact on customer satisfaction rate. However, the positive impact of the board chair separation was removed in a political independence impaired CEO's SOE. Third, outside director's industry expertise made a significantly positive impact on return on asset. However, the positive impact of the outside director's industry expertise was removed in a political independence impaired CEO's SOE. Fourth, the comparison between Lee Myung-bak Administration and Roh Moo-hyun Administration on the corporate governance and performance of SOEs shows that the ratio of political independence impaired CEO was significantly higher in Lee Administration and the ratio of outside director's industry expertise and finance expertise were respectively significantly higher in Roh Administration. Based on these results, I suggested a few policy alternatives for CEO's improved political independence and requirements for executive's expertise in SOEs.

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An Analysis of Infrastructure and Provision of Forest Welfare Service in Nursing Homes for the Elderly (노인요양시설의 산림복지서비스 인프라 및 제공 실태)

  • Lee, Insook;Kim, Sungjae;Bang, Kyung-Sook;Yi, Yunjeong;Kim, Miju;Moon, Hyojeong;Yeon, Poung Sik;Ha, Ei-Yan;Chin, Young Ran
    • The Journal of the Korean Institute of Forest Recreation
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    • v.22 no.4
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    • pp.59-69
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    • 2018
  • This is a cross-sectional study that suggests ways to activate forest welfare services (FWS) by investigating the infrastructure, service status, and perception on FWS in Korea. In August 2016, a structured email survey was conducted in nation widely. The respondents were mostly directors and general secretary (75.0%). The considerable number (16.3%) of nursing homes (NH) use some floors of the complex buildings that would be difficult to have FWS infrastructure and about 30% of those without forests near the facilities. The directors of NH recognize that FWS has positive effects on the elderly. However, FWS is not an requisite of the longterm care insurance benefit, and so costly and effort-intensive that FWS has not been activated so far. In order to activate FWS in NHs, it is necessary to develop and disseminate the guidelines on FWS that anyone can easily followed. In addition, when the National Health Insurance Corporation evaluates NHs, they should evaluate not only whether there is a wandering or walking space, but also whether it has forest healing factors such as forests. It is also necessary to create a barrier-free environment both inside and outside of NHs, increasing accessibility to the toilet in gardens, paving a passage for wheelchairs and lifts in forests near NHs. Through these efforts, it is expected that FWS will be activated to provide physical, mental rest and comfort, appropriate cognitive stimulation to the NH residents at the end of life.

The Relation Between Corporate Governance and Corporate Social Responsibility (지배구조가 기업의 사회적 책임에 미치는 영향)

  • Choi, Heon-Seob
    • Management & Information Systems Review
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    • v.28 no.4
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    • pp.45-66
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    • 2009
  • This research investigates the systematic relation between corporate governance and corporate social responsibility(CSR). Based on the argument that corporate governance would play the role of mitigating conflicts between firms and society, we hypothesized that corporate governance would enhance CSR performance. Specifically, the firms with good governance are predicted to have CSR performance than those with bad governance. These hypotheses were tested using 130ce rean firms from 1998 to 2005. An index published by e rean Economic Justice mance the(KEJm) was used as the measureses wSR performance. Our empirical results suggest that the firms with good governance as measured by f reign investh bad goothshae directh bad goirdit committee exhibit better CSR performance. The primary purposeses this s tdy is to identify the determinants es the use b' satissaction and commitment in pe bn thomedia. For these purposes, we developegoi research modehobased on the literaturesreviews es pe bn tho media, pe ceived risk and interactivity, satissaction, and commitment. This study has identified four dimensions in the concept of perceived risk, such as privacy risk, social risk, time loss risk, and economic risk, and three dimensions in the concept of perceived interactivity, such as active control, two-way communication, and responsiveness.

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The Effects of Interpersonal Relationships on Job Satisfaction of Home-visiting Care Helpers (방문 요양보호사의 대인관계가 직무만족에 미치는 영향)

  • Na, Mi-Jeong;Mo, Seon-Hee
    • The Journal of the Korea Contents Association
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    • v.15 no.4
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    • pp.234-245
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    • 2015
  • This study was to investigate the effects of interpersonal relationships on job satisfaction of home-visiting care helpers and the category of interpersonal relationships was subdivided into elderly clients, guardians, colleagues and directors considering the person-to-person nature of home-visiting care helper's job characteristics. A group of 336 care helpers who engaged in home-visiting care service providing facilities in Daejeon City was selected as a research subject, and the data were analyzed with SPSS 22.0 program using reliability, frequency, correlation and hierarchical multiple regression. The results for the final analysis revealed that the effect of socio-demographic features was not significant while, among characteristics of job performances, work priority, turnover experience, and career choice reasons turned out to have significant impacts on job satisfaction. In particular, interpersonal relationships except the one with guardians were found to be the most influential variables and the effects of those relationships on job satisfaction were significant. The influencing power was stronger in relationships with director, elderly clients, and colleagues in order, and the job satisfaction level was higher as they were in better relationships with director, elderly clients, and colleagues. The results of this research shows that it is necessary to set an atmosphere where harmonious interpersonal relationships can be formed inside and outside of facilities in order to improve job satisfaction of home-visiting care helpers.

Search for Strategies of Practical Engineering Education Using Delphi Method (실천공학교육의 전략 탐색을 위한 델파이조사)

  • Kim, Bong-Whan;Kim, Jeong-Il;Ha, Jun-Hong;Oh, Chang-Heon
    • The Journal of Korean Institute for Practical Engineering Education
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    • v.2 no.2
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    • pp.1-9
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    • 2010
  • This research was conducted as a part of a research project entitled 'A Fact-finding Survey and Improvement Method for Practical Engineer'. The aim of this research is to explore the educational development strategy for KUT, which is the Korea's leading university of practical engineering, by setting the relevant educational goal for training practical engineer and evaluating the core competencies of practical engineer as well as professors. The research is categorized as follow: the direction to be differentiated from other universities, the core competencies of practical engineer, the core curriculum for the training of practical engineer, professors's competencies for training of practical engineer, developing strategy for establishing the identity of KUT. Delphi technique was applied for survey and selected 32 panels including directors of Korean Institute for Practical Engineering Education, KUT professors and outside experts were involved in that survey. Delphi survey was conducted for three times. In the first survey, suggestions on five categories from an open questionnaire were summarized into 73 questions. 2nd and 3rd questionnaires were developed using the summarized questions, distributed and collected by email, thereafter, the suitability and necessity of each item were rated in five-point Likert scale, calculated and analyzed the results.

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Pattern Making Method and Design of Power Shoulder Jackets (파워 숄더 재킷의 디자인 및 패턴전개 방법)

  • Park, Sanghee;Lee, Eunhae
    • The Journal of the Korea Contents Association
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    • v.13 no.7
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    • pp.131-140
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    • 2013
  • Power shoulder look is most noticeable trend in women's wear in the 09/10 season. Specially jackets with sharper angle and wider shoulder became the best item since then, and were chosen for must-have item by fashion directors. Jacket occupied 50% in power shoulder items. Its shoulder angle was from 0 to 30 degree but items with 15 degree stood out among them. There are three methods to make power shoulder look jackets; shoulder extension method with moving shoulder tip up and sleeve cap height, method of extension and cutting sleeve cap with shorten shoulder length, and method of extension and moving shoulder tip up in the sleeve with shoulder line like raglan sleeve. As a result, shoulder angle is higher, starting point of shoulder line is closer to side neck point and shoulder point is extender to outside for appearance and fit. In shoulder extension method, the arm hole line was drawn with care by matching joining shoulder seam and setting the sleeve into the arm hole. In sleeve cap transformation, it is desired that starting point shoulder angle is moved closely to side neck point. In case of the sleeve with shoulder line, it needs to consider enough ease of shoulder and upper arm. For making patterns of power shoulder look jacket, it need to consider arm hole line, shoulder length, shoulder point position, sleeve cap height and sleeve width with interpretation design facts. In this study, through the analysis clothing construction method of power shoulder jacket, it is of help to pattern making for various power shoulder design items.

Interdependence of Corporate Governance Mechanisms and Managers' incentive-compensation system (기업 지배구조 통제장치와경영자 유인보상제도의 상호관련성)

  • Shin, Sung-Wook
    • Management & Information Systems Review
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    • v.35 no.1
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    • pp.287-305
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    • 2016
  • This study confirms that there is a correlation between managers' incentive-compensation system(introduction of the compensation committee) and corporate governance mechanisms (ownership structure, proportion of outside directors, debt ratio, competitive strength), and analyzes whether firm value is affected by corporate governance mechanisms. The purpose of this paper are empirically tested using 318 firm-year data listed on the KRX from 2001 to 2010 and 2SLS(two-stage least square method) were used for the analysis of the hypotheses. The results of empirical tests are as follows. Firstly, there is no correlation between introduction of the compensation committee and corporate governance mechanisms. In addition, the results show that there is a causal relationship between some variables. Secondly, results from the analysis of the impact of corporate governance mechanisms on firm value, only introduction of the compensation committee and foreign investors ownership were analyzed as a positive impact on the firm value. This result means that most domestic firm don't actively used for managers' incentive-compensation system as a useful control device for improving corporate governance.

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The Effects of Ownership Structure on Analysts' Earnings Forecasts (기업지배구조가 재무분석가의 이익 예측오차와 정확성에 미치는 영향)

  • Park, Bum-Jin
    • The Korean Journal of Financial Management
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    • v.27 no.1
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    • pp.31-62
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    • 2010
  • This paper analyzes empirically how analysts' forecasts affected by ownership structure. This study examine a sample of 1,037~1,629 the analysts' forecasts of firms registered in Korean Stock Exchange in the period from 2000 to 2006. The empirical results are summarized as follows. First, from the analysis, companies which have higher major shareholder's holdings tend to increase earnings forecast errors and earnings forecast accuracy. Meanwhile, companies which have higher institution shareholder's holdings tend to decrease earnings forecast errors and earnings forecast accuracy. This result is in line with the view of previous works that companies with higher major shareholder's holdings look towards more of analysts' optimistic forecasts in order to maintain friendly relations with major shareholders. Because of analysts' private information use from major shareholders, earnings forecast accuracy is higher in high major shareholder's holdings firm than in high institution shareholder's holdings it. Second, this analysis is whether the minimal required selection condition of outside directors, audit committee adoption and audit quality affect the relation between ownership structure and analysts' forecasts. This result is that variables related corporate governance do not affect statically the relation between ownership structure and analysts' forecasts. The meanings of this paper is to suggest the positive relations between ownership structure and analysts' forecasts. After this, if analysts will notice forecasts of more many firms, capital market will be more efficient and this field works are plentiful. Also it will need monitoring systems not to distort market efficiency by analysts' dishonest forecasts.

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