• Title/Summary/Keyword: financial support exchange

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Strategic Bundling of HRM for Organizational Performance: an Empirical Study of Publicly Listed Companies

  • Gautam, Dhruba Kumar
    • Asia-Pacific Journal of Business
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    • v.5 no.2
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    • pp.51-64
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    • 2014
  • Strategic bundling of Human Resource Management (HRM) practices among themselves works together as an entire HRM system rather than individual HRM practices to achieve organizational objectives. The bundles of HR practices support the effectiveness of one another assuming the effectiveness of any practice depends on other practices in place. It is said that the greater the total degree of bundling among the various components of HRM policies and practices, the more will be the organizational outcomes. Realizing these facts, this study aimed to explore the level of strategic bundling and examined the impact of such bundling on organizational performance to the publicly listed companies of Nepal. This empirical study is based on description and exploratory design for which data collected through the questionnaire based on 5-point liker scale. Total population of the study at the time of data collection are 234 organizations publicly listed in Stock Exchange of Nepal. Questionnaire is distributed to all organizations listed, response received from 105 organizations, as a unit of analysis, which is fairly good response. The study of strategic bundling of HRM practices perhaps the first study in Nepal, found that only 32 percent organizations have followed high bundling HR practices and these high bundling organizations are significantly different with low bundling organizations. Business organizations are trying to practice being close association of HRM policies and practices within them except labor relation with employee participation and business strategies. Supporting to the international literature, strategic bundling of HRM practices among themselves shows statistically significant effects on quality of product or services, labor productivity, financial performance, employee satisfaction, rate of innovation, employee commitment and market share.

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Two Year Experiences of the International Elective Clerkship for Medical Students (2년간의 의과대학 학생의 해외임상실습 경험)

  • Lee, Sam-Beum;Bang, Jae-Beum;Lee, Young-Hwan
    • Journal of Yeungnam Medical Science
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    • v.26 no.1
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    • pp.24-29
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    • 2009
  • Background : The aims of medical education have recently been changing in Korea, which has been accompanied by efforts to modify the rotating clerkship courses, improve the quality of clinical education, and make global doctors. We report the experiences of medical students going through an international elective clerkship for during past two years. Materials and Methods: Third year medical students could apply to the international elective clerkship course during a 4 week period alter their third-year rotating clerkship at a university hospital. This was done twice - in 2008 and in 2009. Applicant students were allowed to select hospitals anywhere in the world. We analyzed their choices including data on nation, state or city, hospital or institute, contacted hospitals by medical college, differences of two years, etc. Results : Twelve students (10.9%) of a total of 75 third-year students applied to 3 nations and 4 hospitals in 2008. Nine students applied to the Tampa General Hospital at the University of South Florida (USF) in the USA, which was arranged by their medical college. In 2009, a total of five (4.2%) of 77 students applied to 2 nations and 3 hospitals, including three at the University of South Florida, one in another city in the USA, and one in another nation because of the increased financial burden due to a higher exchange rate. Conclusion: Medical students started their first international elective clerkship courses during the past two years. Experiences were interesting and meaningful to the students and the medical college. Greater effort and support to developing a new paradigm and to enlarge the scope of the program for making global doctors are required in the future.

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The Relations between Ownership Structure and Cash Holdings of Firms (기업의 소유구조와 현금보유간의 관계)

  • Shin, Min-Shik;Kim, Soo-Eun
    • The Korean Journal of Financial Management
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    • v.27 no.1
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    • pp.89-120
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    • 2010
  • In this paper, we analyse empirically the relations between ownership structure and cash holdings of firms listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Cash holdings increase as large shareholder's equity holdings increase. Cash holdings increase as the difference between first largest shareholder's and second largest shareholder's equity holdings increase, and cash holdings increase as the ownership concentration increase. Managerial ownership exert a non-linear effects on cash holdings. So to speak, at lower level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders, but at higher level of managerial ownership, the interests of managers and shareholders are aligned, and also at highest level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders. Cash holdings increase larger in owner-controlled firm than in management-controlled firm. These results support the expropriation of minority shareholders hypothesis that large shareholders can extract private benefits from corporate resources under their control at the expense of minority shareholders. This paper contributes to defining information value of large shareholder's equity holdings on cash holdings for a firms' other stakeholders such as investors and creditors, and to strengthening a legal and institutional safeguard for external minority shareholders. Ownership concentration might have negatively affected the evolution of the legal and institutional frameworks for corporate governance and the manner in which economic activity is conducted. It could be a formidable barrier to future policy reform.

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Foreign Entry Strategies for Korean Fishery Firms (한국수산업의 해외진출전략에 관한 연구)

  • 김회천
    • The Journal of Fisheries Business Administration
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    • v.15 no.1
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    • pp.131-153
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    • 1984
  • Fishery resources are still abundant compared with other resources and the possibility of exploitation is probably great. The Korean fishery industry has grown remarkably since 1957, and Korea is ranked as one of the major fishery countries. Its of fishery products reached the 9th in the world and the value of exports was 5th in 1982. But recently a growth rate has slowed down, due to the enlargement of territorial seas by the declaration of the 200 mile, Exclusive Economic Zone, the tendency to develop fishery resources strate-gically in international bargaining, the change in function of the international organizations, the expansion of regulated waters, the illegal arrest of our fishing boats, the rapid rise in oil prices, and the fall in fish prices, the development of fishery resources as a symbol of nationalism, the fishing boats decreptitude, the rise of crew wages, regulations on fishing methods, fish species, fishing season, size of fish, and mesh size, fishing quotas and the demand of excessive fishing royalties. Besides the the obligation of coastal countries, employing crews of their host countries is also an example of the change in the international environment which causes the aggravation of foreign profit of fishing firms. To ameliorate the situation, our Korean fishery firms must prepare efficient plans and study systematically to internationalize themselves because such existing methods as conventional fishing entry and licence fishing entry are likely to be unable to cope with international environmental change. Thus, after the systematic analysis of the problem, some new combined alternatives might be proposed. These are some of the new schemes to support this plan showing the orientation of our national policy: 1. Most of the coastal states, to cope with rapid international environmental change and to survive in the new era of ocean order, have rationalized their higher governmental structure concerning the fishery industries. And the coastal countries which are the objectives of our expecting entry, demand excessive economic and technical aid, limit the number of fishing boats’entry and the use of our foreign fishing bases, and regulate the membership of the international fishery commissions. Especially, most of the coastal or island countries are recently independent states, which are poorer in national budget, depend largely on fishing royalties and licence entry fees as their main resources of national finance. 2. Alternatives to our entry to deep sea fishing, as internationalization strategies, are by direct foreign investment method. About 30 firms have already invested approximately US $ 8 million in 9 coastal countries. Areas of investment comprise the southern part of the Atlantic Ocean, the Moroccan sea and five other sea areas. Trawling, tuna purse seining and five other fields are covered by the investment. Joint-venture is the most prominent method of this direct investment. If we consider the number of entry firms, the host countries, the number of seas available and the size of investment, this method of cooperation is perhaps insufficient so far. Our fishery firms suffer from a weakness in international competitive ability, an insufficiency of information, of short funds, incompetency in the market, the unfriendliness of host coastal countries, the incapability of partners in joint-ventures and the political instability of the host countries. To enlarge our foreign fishing grounds, we are to actively adopt the direct investment entry method and to diversity our collaboraboration with partner countries. Consequently, besides proper fishing, we might utilize forward integration strategies, including the processing fied. a. The enterprise emigration method is likely to be successful in Argentina. It includes the development of Argentinian fishing grounds which are still not exploited in spite of abundant resources. Besides, Arentina could also be developed as a base for the exploitation of the krill resources and for further entries into collaboration with other Latin American countries. b. The co-business contract fishing method works in American territorial seas where American fishermen sell their fishery products to our factory ships at sea. This method contributes greatly to obtaining more fishing quotas and in innovation bottom fishing operation. Therefore we may apply this method to other countres to diffuse our foreign fishing entry. c. The new fishing ground development method was begun in 1957 by tuna long-line experimental fishing in the Indian Ocean. It has five fields, trawling, skipjack pole fishing and shrimp trawling, and so on. Recently, Korean fisheries were successful in the development of the Antarctic Ocean krill and tuna purse seining. 3. The acceleration of the internationalization of deep sea fishing; a. Intense information exchange activities and commission participation are likely to be continues as our contributions to the international fishery organizations. We should try to enter international fishery commissions in which we are not so far participating. And we have to reform adequately to meet the changes of the function of the international commissions. With our partner countries, we ought to conclude bilateral fishery agreements, thus enlarging our collaboration. b. Our government should offer economic and technical aids to host countries to facilitate our firms’fishery entry and activities. c. To accelerate technical innovation, our fishery firms must invest greater amount in technical innovation, at the same time be more discriminatory in importing exogeneous fishery technologies. As for fishing methods; expanded use of multi-purpose fishing boats and introduction of automation should be encuraged to prevent seasonal fluctuations in fishery outputs. d. The government should increases financial and tax aid to Korean firms in order to elevate already weak financial structure of Korean fishery firms. e. Finally, the government ought to revise foreign exchange regulations being applied to deep sea fishery firms. Furthermore, dutes levied on foreign purchaed equipments and supplies used by our deep sea fishing boats thould be reduced or exempted. when the fish caught by Korean partner of joint-venture firms is sold at the home port, pusan, import duty should be exempted.

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Features of International Marriage of Vietnamese Immigrant Women and Plans for Institutional Improvement (베트남결혼이주여성의 혼인의 특징과 국제결혼의 제도적 개선 방안)

  • Moon, Heung-Ahn
    • Journal of Legislation Research
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    • no.44
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    • pp.757-799
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    • 2013
  • Ever since Korea and Vietnam reestablished diplomatic relations, the two countries'bond has become stronger than ever, augmenting the range of exchange between them in almost every possible field including politics, economy, society, and culture at such a high speed. Among many, an increase in number of Vietnamese immigrant women in international marriage is worthy of close attention. Since 2010, Vietnamese has topped the proportion of total foreign women married to Korean men, having surpassed Chinese. Nonetheless, the quick international marriage between Korean men and Vietnamese women, which usually happens without sufficient time to get to know about different cultures and languages, has not only raised problems for people concerned, but numerous social issues as well. Recognizing these problems, a number of government departments have provided various support on policies and legal issues toprotect multicultural families as a means of social integration and settlement support. Nevertheless, the support policies until now have been generalizing all of the immigrant women in international marriage as people subject to protection. Thus, considering every immigrant women as people in need, and trying to help them with various social issues have caused the government a high cost and low efficiency. This thesis emphasizes the point that through the cases of Vietnamese immigrant women in international marriage, there should be a specific support plan for specific people in need, reflecting various traits of different cultures and societies, in order to ease their settlement in Korea. Moreover, it suggests detailed plans for improvements on legal and institutional problems. Although the Vietnamese government forbids commercial agents for international marriage, many of agencies are still active and to help the immigrant women, who desire to return and resettle in Vietnam in case of divorce, this thesis suggests legal and institutional remedies for Korean and Vietnamese government. The composition of the thesis follows below: Part II on social and cultural traits of international marriage between Korean men and Vietnamese women. Part III on institutional problems and plans for improvements regarding settlement of immigrant women in international marriage. Part IV on legal and institutional problems and plans for improvements regarding divorced immigrant women and their return to Vietnam. Part V on conclusion. Divorce is not a flaw anymore nowadays, but in case of Vietnamese immigrant women ininternational marriage, an inadequate legal system hampers their resettlement process. Cases of not being ableto remove their own names from the family register due to poor financial and legal abilities are often identified and it is both the Vietnamese and Korean governments'duty to acquit their ethical responsibilities by seeking ways to institutionally and financially support them.

Watt, Who is he? (와트, 그는 누구인가?)

  • Choi, Jun-Seop;Yu, Jae-Young;Im, Mee-Ga
    • 대한공업교육학회지
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    • v.42 no.2
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    • pp.108-122
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    • 2017
  • This research paper is to examine James Watt who led the 1st industrial revolution successfully. His great work was called monumental achievement in the human history of civilization. Here, we looked over the Watts' educational environment during his infant, juvenile, and adolescence period and also, his learning attitude about his own field through literature review. The basic infra of soft and hard wares for the industrial revolution through the process of R & D on new developing steam engine resulted from the very industrial revolution and its R & D environment were to be investigated. The useful information and knowledge from this process of the research are able to give an appropriate educational guidance to bring up the development of creativity in schooling systems. And also a lesson from the past could be used to provide the desirable direction for the 4th industrial revolution which is just begun to start now. The main results from this study are as follows; First, Watts' parents positively guided him onto the technology of manual field because they recognized their son was interested in technology field. The parents' attitude stimulated and guided his sons' self-development, had been equal to the aims of education. Second, Watt made a chance of making friendships with professors of Glasgow University. He spontaneously had done self-directed learning for getting knowledge and technology, and thus he became an expert of practical engineer and theorist. Third, the Lunar society, which was jumping over one's social position in their society of the 18th century through new thinking way, leading new ages had been very good R & D social infra for Watt to open and connect new advanced level of science and technology in his age. This society provided a study environment fields for their members to exchange their ideas of scientific curiosity and freely inquiry, technology informations. They had discussed and understood the issues to be occurred in their own fields and accumulated necessary knowledge for problem-solving, respectively. Such as this R & D system environment will be also considered in the modern research group. Fourth, the entrepreneur such as Boulton, who understand technology and grasp its value in future, is needed. The system of 'grue of management' will support the researcher with financial support, which is necessary in R & D. And the researcher like Watt who takes pleasure in technology itself and study eagerly in his field without financial problems, that is, 'grue of technical expert' is essential when leading to success in the industrial revolution.

The Causes of Conflict and the Effect of Control Mechanisms on Conflict Resolution between Manufacturer and Supplier (제조-공급자간 갈등 원인과 거래조정 방식의 갈등관리 효과)

  • Rhee, Jin Hwa
    • Journal of Distribution Research
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    • v.17 no.4
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    • pp.55-80
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    • 2012
  • I. Introduction Developing the relationships between companies is very important issue to ensure a competitive advantage in today's business environment (Bleeke & Ernst 1991; Mohr & Spekman 1994; Powell 1990). Partnerships between companies are based on having same goals, pursuing mutual understanding, and having a professional level of interdependence. By having such a partnerships and cooperative efforts between companies, they will achieve efficiency and effectiveness of their business (Mohr and Spekman, 1994). However, it is difficult to expect these ideal results only in the B2B corporate transaction. According to agency theory which is the well-accepted theory in various fields of business strategy, organization, and marketing, the two independent companies have fundamentally different corporate purposes. Also there is a higher chance of developing opportunism and conflict due to natures of human(organization), such as self-interest, bounded rationality, risk aversion, and environment factor as imbalance of information (Eisenhardt 1989). That is, especially partnerships between principal(or buyer) and agent(or supplier) of companies within supply chain, the business contract itself will not provide competitive advantage. But managing partnership between companies is the key to success. Therefore, managing partnership between manufacturer and supplier, and finding causes of conflict are essential to improve B2B performance. In conclusion, based on prior researches and Agency theory, this study will clarify how business hazards cause conflicts on supply chain and then identify how developed conflicts have been managed by two control mechanisms. II. Research model III. Method In order to validate our research model, this study gathered questionnaires from small and medium sized enterprises(SMEs). In Korea, SMEs mean the firms whose employee is under 300 and capital is under 8 billion won(about 7.2 million dollar). We asked the manufacturer's perception about the relationship with the biggest supplier, and our key informants are denied to a person responsible for buying(ex)CEO, executives, managers of purchasing department, and so on). In detail, we contact by telephone to our initial sample(about 1,200 firms) and introduce our research motivation and send our questionnaires by e-mail, mail, and direct survey. Finally we received 361 data and eliminate 32 inappropriate questionnaires. We use 329 manufactures' data on analysis. The purpose of this study is to identify the anticipant role of business hazard (environmental dynamism, asset specificity) and investigate the moderating effect of control mechanism(formal control, social control) on conflict-performance relationship. To find out moderating effect of control methods, we need to compare the regression weight between low versus. high group(about level of exercised control methods). Therefore we choose the structural equation modeling method that is proper to do multi-group analysis. The data analysis is performed by AMOS 17.0 software, and model fits are good statically (CMIN/DF=1.982, p<.000, CFI=.936, IFI=.937, RMSEA=.056). IV. Result V. Discussion Results show that the higher environmental dynamism and asset specificity(on particular supplier) buyer(manufacturer) has, the more B2B conflict exists. And this conflict affect relationship quality and financial outcomes negatively. In addition, social control and formal control could weaken the negative effect of conflict on relationship quality significantly. However, unlikely to assure conflict resolution effect of control mechanisms on relationship quality, financial outcomes are changed by neither social control nor formal control. We could explain this results with the characteristics of our sample, SMEs(Small and Medium sized Enterprises). Financial outcomes of these SMEs(manufacturer or principal) are affected by their customer(usually major company) more easily than their supplier(or agent). And, in recent few years, most of companies have suffered from financial problems because of global economic recession. It means that it is hard to evaluate the contribution of supplier(agent). Therefore we also support the suggestion of Gladstein(1984), Poppo & Zenger(2002) that relational performance variable can capture the focal outcomes of relationship(exchange) better than financial performance variable. This study has some implications that it tests the sources of conflict and investigates the effect of resolution methods of B2B conflict empirically. And, especially, it finds out the significant moderating effect of formal control which past B2B management studies have ignored in Korea.

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A Study on Integrated Approaching Factors of Environmentally-Friendly Companies Certification Scheme and Environmental Impact Assessment of Korea (환경친화기업지정제도와 환경영향평가제도에서의 통합적 환경관리 요소에 대한 기초적 연구)

  • Hong, Jun-Suk;Kim, Kyu-Yeon;Kwon, Oh-Sang
    • Journal of Environmental Impact Assessment
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    • v.17 no.2
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    • pp.113-124
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    • 2008
  • A worldwide trend of permitting system for industrial installation to achieve a high level of protection of the environment has been moved from single media to multimedia in approach. The Council of the European Community issued the Directive 96/61/EC, the IPPC Directive, concerning integrated pollution prevention and control in 1996. The IPPC Directive is one of the most ambitious legal measures that the European Union (EU) has initiated with a view to applying the prevention principle for industrial activities. The IPPC aims to achieve the integrated prevention and reduction of environmental pollution emitted by those industrial installations with a higher potential of emissions to the environment. Organization for Economic Cooperation and Development (OECD) recommended on Environmental Performance Reviews of Korea in 2006 that IPPC permitting concept should be considered for large stationary sources at the national and regional levels. Any Korean law doesn't provide for integrated pollution control with a single process covering all pollution from economic activities. However, one exception might be the "environmentally-friendly companies" certification scheme, introduced in 1995, in which participants agree to meet targets beyond the legal emission limit values in exchange for government technical and financial support to operate environmental management systems. The other exception might be Environmental impact assessment (EIA) of projects, in 1977, which has been strengthened and reinforced to be more preventive through development of the prior environmental review system (PERS) in 1999. The aim of this work is to introduce the contents of IPPC Directive at the viewpoint of Korea policy and to survey the integrated approaching concept of Environmentally-Friendly Companies (EFC) Certification Scheme and EIA policy of Korea. The study will be helpful in the future to prepare the infrastructure of integrated permitting system and to enforce the integrated permit which the authorities of local government issues on industrial activities. It can be said that the data calculated through both EFC Certification Scheme and EIA will be discussed as worthful information to determine Korean BAT reference notes for integrated permitting process.

Awareness and Needs of Original Inhabitants on Urban to Rural Migration (귀농귀촌에 대한 원주민의 인식과 욕구)

  • Lee, Jun-Woo;Hong, Yoo-Mi
    • The Journal of the Korea Contents Association
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    • v.18 no.10
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    • pp.217-228
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    • 2018
  • The purpose of this study is to observe the awareness and needs of original inhabitants on urban to rural migration and propose public projects with a consideration of their stance based on the results. To comprehend their awareness and needs on urban to rural migration through their experience related to it, focus group interview was done and three categories were identified as a result, which are 'relative deprivation', 'limitations and difficulties of urban to rural migration', and 'plans for successful settlement'. First, the original inhabitants were discontent towards the government policies related to urban to rural migration and migrant's behaviors seemed to form negative perception on it. Second, financial difficulty and trouble in stable crop cultivation and acquirement of farming techniques were identified as limitations and difficulties of urban to rural migration. Third, the original inhabitants recognized the need of direct communication between original inhabitants and migrants and activation of meetings for exchange of information to positive relationship between the two groups and migrants should have proper attitude and effort to learn the rural culture for interaction and cooperation. Fourth, there's in need for an institution, which serves as a focal point that provides information and support urban to rural migration. Fifth, successful plans for settlements of migrants thought by the original inhabitants were found. Sixth, there's a need for the original inhabitants to play the role of a mentor to the migrants for their settlement and to promote positive relationship between them.

Mediating Effects of the Functions of Parent's Social Networks between Parent's Socioeconomic Status and Parent Involvement: Comparison of Single-mother and Two-parent Families (한부모 어머니의 사회·경제적 배경과 교육적 관여의 관계에서 사회관계망 기능의 매개효과: 양부모 가정 어머니와의 비교 연구)

  • Shin, Hae Jin;Han, In Young
    • The Korean Journal of Woman Psychology
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    • v.16 no.3
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    • pp.401-422
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    • 2011
  • The present study investigated the mediating effects of parents' social networks on the relationship between parents' socioeconomic status and parent involvement. Parent involvement in the current study was composed of home-based and school-based involvement. Home-based involvement includes providing learning environment at home, guiding child's study habits, and providing educational and financial support. School-based involvement includes supporting child's school-related activities, participating at parent meetings and volunteering, and home-school communication. The subjects were 132 single mothers and 164 mothers from two-parent families, whose children are fifth and sixth graders in Seoul and Incheon. Structural Equational Modeling was used for the analysis by adopting SPSS 18.0 and AMOS 18.0. The results showed that single mothers and mothers from two-parent families differ in their structural models. For mothers from two-parent families, socioeconomic status was directly related to home-based and school-based involvement. In contrast, single mother's socioeconomic status only influenced home-based and school-based involvement indirectly through the functional aspects of mother's social networks. The results suggest that parent counseling and parent education programs might be more effective if they encouraged single mothers to exchange resources through their social networks in order to promote parent involvement in elementary schools.