• Journal of Korea Technology Innovation Society
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• v.8 no.3
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• pp.1199-1224
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• 2005

This study analyzes various factors affecting a firm's investments, focusing on both a firm's ownership structure and CEO's incentives. While previous empirical works focus on various financial data in order to test the Schumpeterian Hypotheses, this paper is using various ownership structure data as well as financial data. Empirical results show that the greater a firm's CEO has the company's own stock, the less he spends in R&D investments. The main empirical results of this study is in line with past empirical studies on various markets outside of Korea.

• Journal of the Korea Safety Management & Science
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• v.16 no.3
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• pp.399-409
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• 2014

The purpose of this study includes: Firstly, to examine the effects of procedural justice and job significance on value of work, psychological ownership, and job satisfaction. Secondly, to examine the mediating effect of the value of work, psychological ownership on the relationship between procedural justice, job significance and job satisfaction. For the study, the data was collected from convenient sample of 273 nurses at university hospital in a city to test theoretical model and its hypotheses. All data collected from the survey were analyzed using with SPSS 18.0 and AMOS 18.0. This study reports findings as followed: first, the relationship between the procedural justice and the value of work is positively related. Second, there was also a positive correlation between the procedural justice and the psychological ownership. Third, there was also a positive correlation between the job significance and the value of work. Fourth, the relationship between the job significance and the psychological ownership is positively related. Fifth, there was also a positive correlation between the value of work and the psychological ownership. Sixth, there was also a positive correlation between the procedural justice and the job satisfaction. Seventh, the relationship between the job significance and the job satisfaction is positively related. Eighth, there was also a positive correlation between the value of work and the job satisfaction. Ninth, there was also a positive correlation between the psychological ownership and the job satisfaction. Finally, the value of work and psychological ownership played as a partial mediator on the relationship between procedural justice and job satisfaction. Also, the value of work and psychological ownership played as a partial mediator on the relationship between job significance and job satisfaction. Based on these findings, the limitations of the study and some directions for future studies were presented.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.3025-3035
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• 2018

This study investigates the momentum phenomena of stocks listed on the taiwan stock exchange. The purpose of this study is to examine the differences in momentum phenomena among firm size, foreign investor ownership, individual investor ownership, and institutional investor ownership. The empirical results of the momentum phenomenon in the Taiwanese stock market are as follows. First, there is no momentum phenomenon during the whole sample period. Second, momentum profitability does not exist even if this study divides by firm size. However, the results are different if this study divides it by the investor ownership. Third, there is a significant positive momentum for firms with high individual ownership. Fourth, on the contrary, positive momentum was observed in firms with low institutional ownership. Finally, there was no momentum phenomenon when dividing by foreign ownership. This study has academic contribution in analyzing the momentum phenomenon in Taiwanese stock market considering the investor's ownership.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.159-168
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• 2020

This is a quantitative research, underpinned by the philosophy of natural science and deduction approach that examines the impact of the various aspects of corporate governance mechanism on the choice of capital structure of Vietnamese listed firms. We focus on the effect of factors such as the board size, the board independence, and especially different ownership structures, which include the managerial ownership, the state ownership, the concentrated ownership, and the foreign ownership. They are the main scopes of corporate governance and are supposed to be relevant to determine the corporate financing choice. To explain the causal relationship between factors, we construct the regression model and then test it by using different statistical method approaches, including the pooled OLS, the fixed effects model, and the random effects model. Data are collected from 336 firms with shares listed in the Ho Chi Minh City Stock Exchange in Vietnam, totaling 1583 observations. Overall, the results reveal that the board size, state ownership, and concentrated ownership have positive impact on the firm's capital structure, whereas foreign ownership appears to have negative influence on the capital structure. The research does not find evidence of a the correlation between board independence, managerial ownership and corporate capital struture.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.24
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• pp.107-125
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• 2004

This study is based on the survey data of 74 Korean multinational corporations, which undertook foreign direct investments from 1980 to 1996. The study examined the firm-specific as well as the host country-specific factors affecting the decision between shared and full ownership. According to the results of this study, as for the firm-specific factors, Korean firms entering foreign markets in order to penetrate local markets prefer shared ownership while those pursuing core business diversification prefer full ownership. As for the host country factors, the more advanced the host country(such as OECD countries) is, the more preference is given to full ownership.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.601-611
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• 2020

The study aims to investigate the impact of ownership structure on corporate voluntary disclosure in the listed companies of Bangladesh. While many studies on the impact of ownership structure on voluntary disclosure have looked at developed and developing countries, few studies have been carried out in a transition economy. Using a three-step relative voluntary disclosure index, the study applies a multivariate analysis on the cross-sectional data for the year 2018. The findings indicate that the quality of voluntary disclosure in transition economy is still below average but has improved compared to findings from the previous literature. We found a significant inverse relationship between corporate voluntary disclosure and public ownership, while no significant relationships between voluntary disclosure and institutional ownership, director ownership, and foreign ownership have been found. The empirical findings of the study will provide evidence to promote the voluntary disclosure characterized by the ownership structures. The findings have important implications for both local and foreign investors as they make their investment decisions especially related to a transition economy. Besides, the findings will assist, not only the corporate executives in rearranging their reporting paradigm, but also the regulators and governments in similar transition economy in adopting and formulating their corporate policies and strategies.

• Journal of the Korea Safety Management & Science
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• v.16 no.1
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• pp.147-158
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• 2014

The purpose of this study includes: the relationships between job characteristics and service quality and the mediating effect of the psychological ownership on the relationship between job characteristics and service quality. In order to verify the relationships and mediating effect, data were collected from 255 nurses in a university hospital at Ulsan city to test theoretical model and its hypotheses. All data collected from the survey were analyzed using with SPSS 18.0. and AMOS 18.0. This study reports findings as follows: first, the relationship between the job characteristics and the psychological ownership is positively related. Second, there was also a positive correlation between the psychological ownership and service quality. Third, the relationship between the job characteristics and the service quality is positively related. Finally, the psychological ownership played as a partial mediator on the relationship between job characteristics and service quality. Based on these findings, the implications and the limitations of the study were presented including some directions for future studies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.107-117
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• 2020

The research objective of the paper is to clarify the factors influencing system risks of listed companies in Vietnam, with a focus on clarifying the relationship and quantifying the impacts of ownership structure on systemic risk of listed companies. The data used in this study included financial statements and stock price data of listed companies on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange of Vietnam stock market in the period from 2010 to 2017. The paper used the method of estimation in establising the regression models to choose among three models: Random Effect Model, Fixed Effect Model or Pooled OLS for regression using Stata statistical software. The research results showed that state ownership and ownership by foreign investors were positively related to systemic risk, while ownership by domestic investors had a reverse relationship with systemic risk of listed companies in Vietnam. In addition, as a control variable, both company size and profitability had an effect on the systemic risk of listed companies in the research sample. Based on the research results, the authors interpreted some of the implications in order to minimize systemic risks in the operation of listed companies in Vietnam.

• Journal of the Korean housing association
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• v.9 no.1
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• pp.33-42
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• 1998

This study has been designed to analyze longterm trend of home-ownership probability over the family life cycle. In this study, 633 female household heads were interviewed on their critical life event such as pregnancy, birth or death of households, marriage, and residential movement between 1987 and 1990 in Oxaca, Mexico. The raw data composed of 100,000 lines were transformed into yearly segmented observation data, proposed by Allison. The results are drawn as follws: 1) There is significant effect of marriage cohort on residential mobility and home ownership: couples who married in 1960s are likely to change their residence at early stage of family life than those who married in 1940s. They also have lower probability of home ownership for 10 years after marriage than the other cohorts. 2) Over all the cohorts, it is consistent tendency that probability of home ownership continuously increases over the entire family life cycle for 40 years. 3) Of the logistic regression analysis of home ownership on household socioeconomic variables, the homeownership was positively related with age of marriage and time since marriage, and was negatively related with education of female head. Over in this study, it is proven that home owenership is ultimate goal of most families, and it is a function of family event variables.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.327-333
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• 2021

Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.