• Korean Journal of Organic Agriculture
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• v.14 no.2
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• pp.159-177
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• 2006

Governance systems are basically an autonomous cooperation type among the government, civil society and market, also a new paradigm for efficient and democratic administration of policies. The governance mainly consists of the central operating body, institutions, operating principles and so on. The constituents are the nation(government), civil society(NGO) and market(firm). Institutional conditions are a legitimate base, financial stability and independency. And as a operating principle, governance systems have common goals and issues from a national and social point of view. This governance has been recently emerged due to financial risk of government, diffusion of new liberalism going with the globalization, localization-decentralization, and development of civil society and information-oriented society. We have to grope fur the framework of participatory agri- policy confronting globalization and localization as well as developing our agriculture and rural village. This agri-policy governance should be theoretically focused on policy network or self-organizing network or multi-lateral governance (MLG) based on NPM. Also, it is proper to have connection of nation-central type and civil society-central type. And it is necessary to have a MLG type with local governance corresponding to localization and decentralization. Governance should have the type whose participants have authority and responsibility as well. Basic directions of environmentally friendly agri-policy governance are as follows : first, its purposes are constructing the democratic and efficient framework of participatory environmentally friendly agri-policy based on consensus of all the related groups, embodying environmentally friendly agri-policy adjusted to local field, raising farmer's real interest, and improving their position. Second, its form should have a council or an agreement system, not an advisory or a consultation organ. Thus, public sector(eg. government) and voluntary sector(eg. farmers' organization) jointly execute agricultural policy and are responsible together. Environmentally friendly agri-policy governance is mainly made up of farmers' organization, cooperative and civil society(NGO). And secondary bodies are agribusinesses and academic groups. Government interacts with the main bodies on administrative execution. And environmentally friendly agri-policy governance has MLG type with a central unit, province and county units. Environmentally friendly agri-policy governance has several main functions such as agri-policy partnership, speaking for farmer's rights and interests, investigation and research on domestic and foreign agricultural streams, and etc. Especially, local unit will play roles in activation for regional agriculture, consulting on technique and management, education and training services, services entrusted by government, and so on.

• Journal of Korean Society of societal Security
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• v.1 no.1
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• pp.69-79
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• 2008

Operational continuity is not a simple issue that can be solved by a Back-Up center or an alternate site. Strategic issues including law, standards, etc demand a new approach in terms of the operational continuity management (OCM). Also, it is necessary to develop a new framework of OCM governance as a part of the corporate governance. Experts from corporate governance insist that OCM can be included in the corporate operational control and so it is important to set up a strategy for OCM in the organization. This paper describes how OCM governance suggests two aspects of effectively controlling corporate risks in the viewpoint of corporate governance. First of all, the top corporate management develops the strategy of operational continuity with regard to the corporate governance. Secondly, there is the aspect of how to build up and manage the strategy of operational continuity in the corporations.

• Journal of Korea Trade
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• v.27 no.1
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.19-26
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• 2023

The impact of environmental, social and governance (ESG) performance on investors' decision-making is growing. Investors' focus on the financial performance of firms in the past is expanding to the non-financial performance of the interests of stakeholders surrounding firms. Against this backdrop, this study conducted a panel regression analysis on firms evaluated by Korea Corporate Governance Service to analyze the impact of ESG performance, a firm's non-financial performance, on firm risk. According to the analysis, ESG performance has a negative (-) effect on all three firm risks (systematic risk, unsystematic risk, and total risk), indicating that the stakeholder theory and risk management theory are supported. The implications of this study are: First, ESG reduces not only unsystematic risk but also broad and indiscriminate systematic risk; Second, investors can reduce the risk of their investment portfolio by executing ESG investments; Third, companies can achieve stable financial performance even in adverse circumstances by utilizing the insurance function of ESG management; Lastly, the government can enhance the stability of the financial market while improving the financial soundness of firms through reasonable ESG-related regulations.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.5
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• pp.543-548
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• 2017

This paper examines the effects of strong corporate governance for listed companies in accessing capital markets from the point of view of the weighted average cost of capital. Results found that corporate governance had a significant negative(-) relation to the weighted average cost of capital. This finding is consistent with previous research and implies that the higher shareholder ownership and foreign ownership have confidence in the financial information of the company, and therefore, risk is reduced for investors. This results in lower expected rates of return and companies will pay a lower cost of capital. Second, tax evasion had a positive effect(+) on the weighted average cost of capital. The low quality of corporate accounting information is expected to increase tax avoidance. Accordingly, this results in increased risk. If the required rate of return is high in its impact,it leads to increased capital costs. In addition, corporate governance and tax avoidance factors showed a negative affect (-) on the weighted average cost of capital. Corporate governance plays an important role in tax avoidance and the weighted average cost of capital, and strong corporate governance reducesthe impact on tax avoidance. In addition, the weighted average cost of capital in capital markets showed the reducing effect.

• Convergence Security Journal
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• v.17 no.1
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• pp.39-44
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• 2017

The existing enterprise information security activities were centered on the information security organization, and the top management considers information security and enterprise management to be separate. However, various kinds of security incidents are constantly occurring. In order to cope with such incidents, it is necessary to protect information in terms of business management, not just information security organization. In this study, we examine the existing corporate governance and IT governance, and present an information security governance model that can reflect the business goals of the enterprise and the goals of the management. The information security governance model proposed in this paper induces the participation of top management from the planning stage and establishes information security goals. We can strengthen information security activities by establishing an information security plan, establishing and operating an information security system, and reporting the results to top management through compliance audit, vulnerability analysis and risk management.

• Journal of Information Processing Systems
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• v.12 no.2
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• pp.226-233
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• 2016

Cloud computing is a distributed computing model that has lot of drawbacks and faces difficulties. Many new innovative and emerging techniques take advantage of its features. In this paper, we explore the security threats to and Risk Assessments for cloud computing, attack mitigation frameworks, and the risk-based dynamic access control for cloud computing. Common security threats to cloud computing have been explored and these threats are addressed through acceptable measures via governance and effective risk management using a tailored Security Risk Approach. Most existing Threat and Risk Assessment (TRA) schemes for cloud services use a converse thinking approach to develop theoretical solutions for minimizing the risk of security breaches at a minimal cost. In our study, we propose an improved Attack-Defense Tree mechanism designated as iADTree, for solving the TRA problem in cloud computing environments.

• Journal of the Korean Vacuum Society
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• v.19 no.6
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• pp.432-441
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• 2010

The Center for Nanotechnology in Society at Arizona State University (CNS-ASU) is a Nano-scale Science and Engineering Center (NSEC) funded by the US National Science Foundation (NSF). It implements an agenda of "real-time technology assessment" (RTTA) in pursuit of a strategic vision of the "anticipatory governance" of nanotechnologies. To achieve this vision, CNS-ASU unifies research programs not only across several universities but also across three critical, component activities: foresight (of plausible future scenarios), integration (of social science and humanities research with nano-scale science and engineering), and engagement (of publics in deliberations). CNS-ASU also performs educational and training activities as well as public outreach and informal science education. This paper elaborates the Center's strategic vision of anticipatory governance and its component activities, especially in the context of extending the concerns of societal dimensions research beyond the traditional risk paradigm.

• Journal of Technology Innovation
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• v.23 no.2
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• pp.1-31
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• 2015

Various concepts and practices of public deliberation have been exercised over the last three decades in western countries for science and technology (ST) governance. There has been a general social consensus for the need of such new governance notwithstanding, ends and means to achieve it varied. Among various rationales, while normative and substantive perspectives are explicitly claimed in public as reasons for public engagement in ST policy making, instrumental perspectives tend to be implicitly arranged by interested parties and still affecting policy significantly. This paper therefore, examines the implications of such instrumental perspectives in public engaged ST governance. To do so, this paper analyses the discourses and practices of public deliberation for ST governance in the UK from the late 1990's until the mid 2000's. It examines the proposals made by various policy institutions and two real public deliberations- the GM Dialogue for commercialization of genetically modified crops and the Committee on Radioactive Waste Management(CoRWM)'s programme. This study finds that policy institutions tried to employ public deliberation as strategic instrument for their policy interest, which contrasted with their outwardly claimed rationales of democratic policy making and better quality in decision for ST governance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.497-502
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• 2021

This study aims to investigate the determinants of default risk of rural banks in East Java, Indonesia. The method used is descriptive verification and logistic regression analysis. The data used is secondary in the form of monthly annual financial reports of rural banks in East Java during the period 2009-2018. From the results, it was shown that net interest margin (NIM) as a proxy of market risk, non-performing loan (NPL) as a proxy of credit risk, operation efficiency as a proxy of operational risk and return on assets (ROA) as a proxy of profitability have a significant influence on default risk. Meanwhile, the loan to deposit (LDR) ratio as a proxy of liquidity risk has no significant influence on default risk. Banks need to implement risk management and meet the capital adequacy requirements of regulators so that they are resistant to risk, and also, compliant with bank governance to be able to produce high returns for rural banks have an impact on sustainability and its existence. The ability to identify setbacks in bank conditions and the ability to distinguish between healthy and problematic banks will enable to anticipate default banks.