• Journal of Contemporary Eastern Asia
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• v.17 no.1
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• pp.68-93
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• 2018

With the emergence of partnerships with private actors in public and cultural diplomacies, complexity in the relations among the various stakeholders involved has arisen, and yet the relevant research is insufficient to shed any beneficial light on such issues. By looking at public-private partnerships, the present study determined that resource dependence, trust, and risk are the main factors affecting the feasibility of partnerships, and inductively developed propositions on their effects. In an explorative case study, Germany (decentralized mode of governance) and South Korea (centralized mode of governance) were compared as exemplary contrasting system designs. The results revealed that risk and trust are likely to affect the feasibility of partnerships, whereas resource dependence is not. The following additional findings also were made: (1) there are cultural actors in a 'for profit, but with non-profit purposes' sector; (2) an interpersonal level of trust positively affects partnerships; (3) 'taking risks' brings about 'innovation'; (4) the existence of international commonalities between any two cases depending on the actors' shared role, whether public or private; (5) public actors' emphasis on mutual trust, program budget and execution, innovations coming from taking risks, commitment and ownership, and unexpected situations; (6) private actors' consideration of 'publicness' and grant-seeking or financial support as important incentives, and their desire that public actors to show more trust, professionalism, and ownership with less control over budget execution. With its qualitative approach and in-depth analysis, the present study yielded new insights, notwithstanding the relatively small sample data.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.14 no.11
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• pp.4331-4354
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• 2020

Nepal is a sensitive and disaster-prone country where safety and security risk are of high concern for travelers. Digital technologies can play a vital role in addressing safety and security issues in the country. This research work proposes a Digital tourism security system design for addressing the safety and security issues in tourism industry of Nepal. The study uses Design science research methodology to identify artifacts, interactions, information flow and dependencies between them which are then mapped with existing prevalent technology to provide design solutions. Data is obtained from interview of tourist and experts as a primary source and technical documents/draft, software documentations, surveys as secondary source. Generalized information model, Use cases model, Network architecture model, Layered taxonomy model and Digital tourism technology reference model are the outcomes of the study. The work is very important as it talks specifically about implementation and integration of digital technologies in tourism security governance at federal, provincial, municipal and rural level. The research supplements as a knowledge document for design and implementation of digital tourism security system in practice. As there is very less work on digital systems in tourism security of Nepal, this work is a pioneer and first of its kind.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.9-17
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• 2020

This study examines the effect of financial reporting opacity and audit quality on stock price crash risk using listed firms in Japan. This study is the first research to examine the effect of financial reporting opacity on crash risk using a Japanese listed company. Furthermore, the effect of audit quality on crash risk is verified. High level auditors can mitigate crash risk by playing a role as a corporate governance device mechanism to reduce agency costs. We use a logistic regression and linear regression model to test whether financial reporting opacity and audit quality affect crash risk using listed firms in the Japanese stock exchange market during the fiscal years 2015 January through 2017 February. The results of this study suggest that the financial reporting opacity variable shows a positive relationship with CRASH, which states that a firm with more opaque financial reporting increases crash risk. The results suggest also that the firms audited by Big4 auditors experience less crash risk, implying that the audit quality in Japan can be one of the factors mitigating firm's crash risk. This study provides implications for financial reporting and audit quality to external stakeholders who wants to avoid losses.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.1
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• pp.29-41
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• 2018

These days, corporate risk management has become a major concern in the corporate world. Companies in the global environment are exposed to diverse kinds of risks that are affecting the decisions of investors and other stakeholders. Therefore, companies are expected to not only identify and manage risks but also voluntarily report the same to the stakeholders. Increasingly, standard setters and regulators are requiring firms to disclose such information. On the contrary, there also exists a perception that risk reporting can create a negative impression among the stakeholders about the future of the company. In line with such growing dilemma for risk disclosures, the issue of corporate risk reporting (CRR) has been receiving immense emphasis from the accounting academicians. The main objective of this article is to conduct a comprehensive literature review on corporate risk disclosures. In order to fulfill this objective, at first, a summary of the relevant available literature is presented to identify the current regulations on risk reporting, existing trends of CRR research and theories applied in research. Then, through analysis, several research avenues are identified. It is expected that if these dimensions are explored by the future researchers, a better and broader understanding of the risk reporting practices can be achieved.

• Journal of Contemporary Eastern Asia
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• v.18 no.1
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• pp.189-216
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• 2019

The frequent occurrence of overwhelming disasters necessitates risk communication systems capable of operating effectively in disaster contexts. Few studies have examined risk communication networks during disasters through social networking services (SNS). This study therefore investigates the patterns of risk communication by comparing Korean and international networks based on the social amplification of risk communication in the context of the Sewol ferry disaster (SFD). In addition, differences in language use and patterns between Korean and international contexts are identified through a semantic analysis using KrKwick, NodeXL, and UCINET. The SFD refers to the sinking of the ferry while carrying 476 people, mostly secondary school students. The results for interpersonal risk communication reveal that the structure of the Korean risk communication network differed from that of the international network. The Korean network was more fragmented, and its clustering was more sparsely knitted based on the impact and physical proximity of the disaster. Semantic networks imply that the physical distance from the disaster affected the content of risk communication, as well as the network pattern.

• Korean Journal of Social Welfare
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• v.63 no.1
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• pp.343-368
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• 2011

This Study aims to criticize national pension fund governance reform plan of Korea government and to search for an alternative direction of the reform. Firstly, I examine the theoretical basis of the Korean government reform plan by clarifying limits of application of agency theory to the public pension fund governance. Secondly, I try to reconstruct principles of the public pension fund governance with an alternative theoretical view emphasizing democracy principle. Thirdly, I evaluate the government reform plan with the basis of reconstructed pension fund governance principles. The government reform plan is expected to cause retrenchment of democracy and even political autonomy. It also would make worse the problem of pension fund autonomy from the financial market and the risk of the pension fund caused by market turbulence. Finally I suggest alternative direction of the pension fund governance reform emphasizing the democracy principle. This direction contains constructing co-determination structure of the state and the civil society, escalating controling power of the governing body to the administration body, setting the limits of the roles of the state, attaining of the autonomy from the financial market, strengthening organizational and social accountability.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1171-1180
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• 2021

This study aims to investigate the impact of the multimarket contract on risk-adjusted profitability. Risk-adjusted profitability is measured in terms of risk-adjusted return on assets. This study employs dynamic panel data of 27 commercial banks in Vietnam using the GMM estimator to test the multimarket contact hypothesis in the Vietnamese banking sector. The results show that there is a negative impact of multimarket contact on the profitability of banks. Multimarket contact, deposit to asset ratio, non-interest income to total income, GDP growth rate, Worldwide Governance Indicator (WGI), and operating cost to assets are the major determinants of risk-adjusted profitability of commercial banks. Our main findings show that Vietnamese banks' focus to increase the multimarket contact may lead to lower profitability and there is evidence that supports theory predictions, since the average number of contacts among banks, bank size, and capitalization are positively related to risk-adjusted profitability. The study has policy implications for commercial banks in that they should not only focus on interest as a source of income and diversify their income source from non-interest income as well since it helps to improve risk-adjusted profitability for them.

• Journal of Contemporary Eastern Asia
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• v.20 no.2
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• pp.85-107
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• 2021

Wildfires have become increasingly common and intense in South Korea because of climate change, but few have recognized the catastrophic level of the problem. Given the significant impact of wildfires, emergency management stakeholders must have effective risk communication structures for rapidly responding to such phenomena and overcoming geographical difficulties. Despite the country spending billions of dollars to build a big databased early warning system, risk communication flow during the 2017 Gangneung wildfire was ineffective, thereby causing substantial economic, social, and environmental losses. To examine the patterns of information exchange in South Korea's risk communication networks and their structural characteristics during the wildfire, we conducted semantic and network analyses of real-time data collected from social media. The results showed that the inefficient flow of risk information prevented emergency responders from adequately assessing the emergency and protecting the population. This study provides new insights into effective risk communication responses to catastrophic events and methods of research on webometric approaches to emergency management.

• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.77-86
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• 2019

The purpose of this study is to examine how the characteristics of family firms affect stock price crash risk. Prior studies argued that the opacity of information due to agency problem causes a plunge in stock prices. The governance characteristics of family firms can increase information opacity which leads to crash risk. Therefore, this study verifies whether family firms have a high possibility of stock price crash risk. We use a logistic regression model to test the relationship between family firms and stock price crash risk using listed firms listed on the Korean Stock Exchange during the fiscal years 2011 through 2017. The family firm is defined as the case where the controlling shareholder is the chief executive officer or the registered executive. If the controlling shareholder's share is less than 5%, it is not considered a family business. We found that family firms are more likely to experience a plunge in stock prices. This supports the hypothesis of this study that passive information disclosure behavior and information opacity of family firms increase stock price crash risk.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.647-656
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• 2020

This study empirically examines the effect of ownership structure on bank diversification and risk-taking behavior. The population of this study is based on all commercial banks listed in Bangladesh. Thirty-two conventional commercial banks were randomly selected from thirty-three conventional banks for this study. Data was collected from the annual reports of the concerned banks from 2000 to 2017. To analyze the data, we had applied the two-stage least squares (2SLS) estimator. The results of the analysis show that ownership structure i.e. managerial ownership, institutional ownership, general public ownership, and ownership concentration have a significant negative impact on bank diversification. On the other hand, institutional ownership, managerial ownership, and general public ownership have a significant positive impact on Z-score, and ownership concentration has an insignificant but positive impact on the Z-score of banks in Bangladesh. Therefore, the study opposes the benefits of diversification and promotes ownership structure which is capable of ensuring better financial stability by reducing the probability of risk. The policy-makers especially, Bangladesh banks should evaluate the fact of this study to issue guidelines on corporate governance, bank diversification, and risk-taking behavior of commercial banks.