• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.361-371
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• 2021

This research aims to analyze the effects of managerial overconfidence and corporate governance on investment decisions. Besides, it also tries to discover the effect of internal financing mediation between managerial overconfidence and corporate governance on investment decisions. This study employed panel data from 44 manufacturing companies from 2014 to 2019, out of a total of 117, thus the total observations are 264. The hypothesis was verified through structural equation modeling (Smart PLS 2). The study revealed as follows: 1) Managerial overconfidence has a positive and significant effect on internal financing, while corporate governance has a negative and significant effect on internal financing, 2) managerial overconfidence, internal financing, and corporate governance have a positive and significant effect on investment decisions, 3) internal financing partially mediated the effect of managerial overconfidence on investment decisions, However, internal financing does not mediate the effect of corporate governance on investment decisions. The findings in this study will help company managers implement good corporate governance to improve investment efficiency. In addition, managers can reduce the proportion of retained earnings and increase the proportion of dividend payout ratios, and increase the use of external sources of funds in making investments to minimize agency costs and manager's opportunistic behavior.

• Journal of Korea Trade
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• v.23 no.6
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• pp.93-112
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• 2019

Purpose - First, this study contextually examines the governance codes of South Africa and South Korea. Second, it analyzes board features of South African (JSE) Mainboard and South Korean (KRX) KOSPI-listed companies. Design/methodology - This review is qualitative and uses data from the annual reports of the selected markets' companies, respective exchanges' official web sites and corporate governance-related web sites in order to examine the corporate governance practices in the two markets. In addition, Nvivo is employed in analyzing the content of the corporate governance codes of the selected countries. Findings - Our analysis indicates that the corporate governance codes of the two countries are evolving to keep up with the international trend of principles-based approach. The composition of the board of directors (BODs) of non-financial companies of both South Africa and South Korea shows no significant variation between the companies with regards to the executive (inside) and nonexecutive (outside) directors. On the contrary, there is a significant variation between South African and South Korean listed companies with respect to diversity. Originality/value - While previous studies are centered on the impact of governance codes on performance, this study intends to contextually evaluate the codes and features of South Africa and South Korea listed companies. This is essential and timely for regulators and policy makers given the importance of corporate governance features such as board independence and diversity in recent times.

• The Journal of Economics, Marketing and Management
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• v.10 no.6
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• pp.17-26
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• 2022

Purpose: This study analyzes advanced cases of overseas smart cities and examines policy implications related to the creation of smart cities in Korea. Research design, data, and methodology: Analysis standards were established through the analysis of best practices. Analysis criteria include Technology, Privacy, Security, and Governance. Results: In terms of technology, U-City construction experience and communication infrastructure are strengths. Korea's ICT technology is inferior to major countries. On the other hand, mobile communication, IoT, Internet, and public data are at the highest level. The privacy section created six principles: legality, purpose limitation, transparency, safety, control, and accountability. Security issues enable urban crime, disaster and catastrophe prediction and security through the establishment of an integrated platform. Governance issues are handled by the Smart Special Committee, which serves as policy advisory to the central government for legal system, standardization, and external cooperation in the district. Conclusions: Private technology improvement and participation are necessary for privacy and urban security. Citizens should participate in smart city governance.

• The Journal of Economics, Marketing and Management
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• v.7 no.3
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• pp.43-49
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• 2019

Purpose - This paper empirically investigates what factors contribute to management decisions by corporate governance in the Korean stock market. In the paper, dividends and investments were imployed as management decisions and major stockholders' shares and foreign investors' shares were used as corporate governance. Research design, data, and Methodolog - Samples are constructed by manufacturing firms listed on the stock market of Korea as well as those who settle accounts in December from 2001 to 2018. Financial institutions are excluded from the sample as their accounting procedures, governance and regulations differ. This study adopted the panel regression model to assess the sample construction including yearly and cross-sectional data. Results - This results support the literatures that major shareholders showed insignificance to dividends, positive significance to investment in financially unconstrained firms and negative significance to investment in financially constrained firms. Whereas foreign investors favor firms to increase dividends but they decrease investments only in financially constrained firms. Conclusion - This paper documented evidence that financial constrained firms use dividends for their investment and foreign investors decrease investments under financial constraints. But for dividends decisions, foreign investors give significant positive impacts irrespective of financial constraints.

• 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.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.697-706
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• 2021

This quantitative study aims to examine the effect of family ownership on company performance empirically. Specifically, this study examines the moderating effect of corporate governance on the relationship between family ownership and company performance which has never been explored in the previous studies. This study's main target population was all listed companies in the Indonesian Capital Market Directory (ICMD) for 2008-2018. The study used criteria, namely data completeness, to measure research variables and obtained 2996 data or firm-year observations. The research contingency model to test the proposed hypothesis was the General Moment Method (GMM). The study presents the results of data descriptions shows the average, median, maximum, minimum, and standard deviation values for each variable. The descriptive data shows that family ownership is common in Indonesia: 64% of 244 companies in the sample. The inferential analysis results using a multiple regression model test show that family ownership significantly reduces company performance. However, corporate governance proxied by the board of directors, managerial risk profile, and independent commissioners significantly moderate the relationship between family ownership and company performance. Besides, the managerial risk profile and independent commissioners strengthened while the board of commissioners' presence weakened the effect of family ownership on performance.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.34 no.2
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• pp.137-158
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• 2023

In the modern digitized data society, there is a growing emphasis on securing trustworthiness and fairness in data utilization, along with data openness. By defining the concept of data democracy from various perspectives and presenting elements of normative values, this study aims to provide a basic conceptual framework to identify and evaluate the data governance system and levels of data democracy. As a foundation for the discussion of data democracy, based on Kneuer's (2016) conceptualization of e-democracy, free and equitable access, e-participation, and e-government were introduced as core dimensions of e-democracy. To improve the quality of data governance and foster a better understanding and practical application of the concept of data democracy, this study takes a normative approach from the perspective of democracy. Inclusiveness, equity, participation, and democratic sovereignty are provided as core dimensions of data democracy. This study highlights the significance of data literacy in promoting data democracy. It proposes the creation and assessment of a curriculum rooted in the normative principles of data democracy within the field of library and information science for future investigation.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.5
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• pp.1117-1132
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• 2019

Recently, IT technology such as internet, mobile, and IOT has rapidly developed, making it easy to collect data necessary for business, and the collected data is analyzed as a new method of big data analysis and used appropriately for business. In this way, data collection and analysis becomes easy. In such data, personal information including an identifier such as a sensor id, a device number, IP address, or the like may be collected. However, if systematic management is not accompanied by collecting and disposing of large-scale data, violation of relevant laws such as "Personal Data Protection Act". Furthermore, data quality problems can also occur and make incorrect decisions. In this paper, we propose a new data governance maturity model(DGMM) that can identify the personal data contained in the data collected by companies, use it appropriately for the business, protect it, and secure quality. And we also propose a over all implementation process for DG Program.

• Journal of Distribution Science
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• v.12 no.8
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Safety and Health at Work
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• v.14 no.2
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• pp.174-184
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• 2023

Background: The reoccurrence of occupational accidents in Sudan is evidence of a lack of effective Occupational Health and Safety (OSH) governance in Sudan. Methods: This scope review research articles on OSH governance in Sudan from different sources, including international websites, official government websites, original research articles in journals, and various reports. The five stages of the scoping review followed in this study are: identifying the research question; identifying relevant studies; study selection; charting the data; collating, summarizing, and reporting the results. Results: There is numerous legislation in place; however, there is no evidence of their enforcement, and no formal bodies at the national level are identified as being responsible for their enforcement. Conclusion: Having multiple authorities with overlapping responsibilities hinders OSH governance. An integrated governance model is proposed to eliminate overlapping duties and to facilitate the participation of all stakeholders in the governance process.