• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.313-325
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• 2023

Purpose - The purpose of this study is to examine the process of determining control in a situation where investors hold less than a majority of the voting rights of the investee through case. Design/methodology/approach - In this study, the various and complex considerations presented in K-IFRS 1110 'Consolidated Financial Statements' were systematically classified and stratified. Findings - First, the agreement to delegate voting rights does not necessarily have to be documented, but it can be said to be substantive rights right only if it is not of the nature that one party can discontinue at any time. Second, if it is clear that investors do not have power due to the relative size of voting rights and the degree of stock dispersion, there is no need to review the past shareholders' meeting resolutions and additional facts and circumstances. Research implications or Originality - This study expects to minimize errors in applying the standards by classifying and stratifying the various considerations presented in K-IFRS 1110 into first and subsequent considerations. In addition, it is expected to contribute to reducing practical confusion in determining control by presenting a step-by-step review through case on whether or not to have power to judge control when holding voting rights of less than a majority.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.4
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• pp.97-113
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• 2014

Circular shareholding refers to a situation where at least three member firms in a business group have stock in other member firms and establish a series of ownership in a circular way. Although many studies have focused on the ultimate effect of circular shareholding on firm's value and profitability, there have been few studies which address how to resolve circular shareholding from the perspective of optimization theory. This paper proposes a heuristic method for identifying shareholdings which need to be cleared in order to settle the problem of circular shareholding in a business group. The proposed heuristic tries to maximize the sum of voting rights the controlling family has in its business group firms. The applications results confirm that the heuristic provides near-optimal solutions for most of 16 Korean large business groups involving circular shareholding.

• Informatization Policy
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• v.29 no.4
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• pp.67-90
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• 2022

The March 2022 presidential election held at the peak of the COVID-19 pandemic drew flak for undermining the principle of universal suffrage by failing to guarantee properly the voting rights of confirmed and quarantined persons. Guaranteeing their voting rights requires thinking about e-voting that can fundamentally overcome the temporal and spatial limitations of current paper voting polling stations. The question is how to deal with the increased possibility of contradicting or violating the principles of equality and direct and secret suffrage due to the expansion of universal suffrage. In order to obtain implications for this, we looked at the case of Estonia, which has been holding 11 national elections without any problems since the introduction of e-voting in 2005. Estonia was successfully building trust in the system, government, and society through the institutionalization and routinization of the overall socio-technical system of e-voting, along with political and constitutional agreements on the principles of elections. Therefore, we should not only consider the possibility of e-voting in terms of technological development and level but also discuss the establishment of trust by mediating conflicts between election principles from a normative point of view to reach a social consensus.

• Journal of Information Technology Services
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• v.19 no.3
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• pp.101-115
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• 2020

Electronic voting is one of information technology service to handle a wide range of functions, including registration, certification, input and results of voting, using electronic technology, depending on the degree of automation. It helps voters exercise their voting rights not only for individual suffrage but also for major corporate decisions as shareholders by expressing their opinions regardless of geographical and time constraints. Such electronic voting helps open and expand voting participation, but on the contrary, it is possible to identify who voted and what kind of vote, such voting cannot guarantee confidentiality. Therefore, if blockchain technology is applied to electronic voting, it can increase the speed of processing and confidentiality by encrypting voting information. In this regard, the study aims to identify institutional issues on how electronic voting can be activated at a company's shareholders' meeting, and to find ways to overcome the limitations of existing electronic voting by utilizing the technical characteristics of blockchain. This study proposes a consortium-type blockchain-based electronic voting system to enhance the convenience and reliability of electronic voting for shareholders' meetings. In addition, this paper suggests how to enhance shareholders' profits through electronic voting at shareholders' meetings, as well as its policy measures and future improvements.

• Journal of the Korea Convergence Society
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• v.10 no.8
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• pp.217-226
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• 2019

This study examines the effect of the wedge between voting rights and cash flow rights of controlling shareholders on the implied cost of equity. Prior studies posit that controlling shareholder's voting rights exceeding cash flow rights causes expropriating minority shareholders. Using date from 793 group-affiliated Korean firms for 10 years from 2005 to 2016, the result shows that there is a positive and significant relationship between controlling shareholders' wedge and implied cost of equity. This result implies that investors regard the controlling shareholders' wedge as potential agency cost in which they require additional risk premium because controlling shareholders have a strong incentive to pursue their private interests trough tunneling practices.

• The Journal of Fisheries Business Administration
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• v.49 no.4
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• pp.83-97
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• 2018

The ocean is very important to mankind for its infinite value in resource storage and utilization. In shallow coastal waters, landfill as well as pollution damage occurs frequently for the promotion of important public and private projects that are the driving forces of national development. In this case, compensation paid for the loss or damage of fishing rights acquired by the fishing community shall be distributed to each individual of the fishing community in accordance with the appropriate balance. In reality, as fishing communities in different sectors coexist, the voting rights of the general meeting of fishing communities are ignored as a minority, and the demand for the rights is ignored by the majority. Many other industries receive fish compensation, even though they have not suffered much damage. As a result serious conflicts between the individuals of the fishing community have caused social problems. Therefore, similar cases are investigated and analyzed to provide a reasonable solution.

• The Journal of Society for e-Business Studies
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• v.24 no.4
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• pp.1-16
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• 2019

Blockchain technology prevents tampering of central authorities that manage voting process, enhancing trust in the vote results. This technology enables citizens to participate more directly in the areas where delegation was inevitable due to the difficulties in polling fair and trustworthy public opinions. There are many projects around the world proposing to implement voting system for public decision making using blockchain technology. The blockchain voting system is expected to work as a transparent and fair channel for polling public opinions, which will transform the public decision-making process and governance. Korean National Pension Service (NPS) recently introduced stewardship code to better represent the interest of beneficiaries. However, because of the mistrust in governance of NPS, introduction of stewardship code is facing criticism for potential misuse of their voting rights against the interest of beneficiaries and for government's interference with corporate management. This study proposes a voting system applying blockchain technology for polling the opinions of National Pension Fund's beneficiaries to support public decision-making, and discusses social and institutional conditions for implementation of the proposed system.

• Journal of Digital Convergence
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• v.16 no.2
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• pp.65-71
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• 2018

The purpose of this study is to examine the perception of the right to vote of persons with developmental disabilities in college students. College students attending in A University and B University in Gwangju Metropolitan City were selected using convenience sampling and 370 samples were finally analyzed. The results were as follows. First, the subjects who took a disability course had high perception of the right to vote of persons with developmental disabilities. Second, it was discovered that the more times people participated in the volunteer work related to disabilities, the more recognition they had on the voting rights of people with developmental disabilities. Third, the subjects who responded for the need for the political rights of persons with developmental disabilities had more positive perception of the right to vote of persons with developmental disabilities than those who did not responded. Based on the findings, it was suggested that methods should be investigated to establish positive attitude and perception of the right to vote of persons with developmental disabilities in persons without developmental disabilities including college students.

• Journal of Digital Convergence
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• v.20 no.1
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• pp.119-127
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• 2022

In order to analyze the effect of strengthening the disclosure of remuneration for high-paid workers among the measures to improve the governance structure of financial companies by the Financial Services Commission in 2018, this study demonstrated the compensation system, management performance, and improvement of governance for Korean financial companies from 2015 to 2020. Analysis was performed. As a result of the empirical analysis, it was found that financial companies after 2018 decreased the employee compensation disparity and the majority shareholding ratio, while the stock performance and foreign ownership ratio increased. This study has the greatest contribution in that it is the first domestic study to verify the effect of applying the so-called Say on Pay, which discloses management's remuneration and allows shareholders to check its appropriateness through voting.

• Journal of Digital Convergence
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• v.11 no.3
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• pp.13-22
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• 2013

With increase of Korean economy scale and globalization, permanent alien residents in Korea are increasing day by day. Living in Korea, they maintain their original nationalities, but their life in Korea is greatly affected by political decision made by Korea. It has been taken for granted that foreigners's suffrage were not recognized due to national sovereignty. The claim that foreigners should not be allowed to participate in government has constantly been met with counterargument on the basis of instability of sovereignty principle, trends of advanced countries, intrinsic differences between federal and regional governments, or actual state of foreigners. It is unreasonable to deal with foreigners' suffrage and eligibility for election differently in that the current public offices election law does not allow foreigners to be eligible for election without any special reason while allowing foreigners to vote in the local election. It is discrimination against foreigners not to allow foreigners to be eligible for election when there is no rationale to differently deal with foreigners' suffrage and eligibility for election. This paper deals with constitutional argument regarding foreigners' electoral eligibility, takes a look at legislative cases of Japanese and European countries, and examines possibilities of including foreigners' eligibility for election in our public offices election law.