• Journal of Korean Society of Industrial and Systems Engineering
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• v.4 no.5
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• pp.15-26
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• 1981

While one characteristic of modern enterprises is that their forms are mostly stock company type profit organization the other characteristic is that such modern enterprises have mostly been managing under separation between capital and management. The term "Separation of ownership and Management" means that a company is controlled and managed not by its financier or investor but by the professional manager equipped with scientific management skill and knowledge. Nowadays, separation between capital and management could be adopted by advent of professional managers, and the enterprises are managed not exclusively by the interested group of stockholders but by the professional managers Professional managers can manage their enterprises in such a way as to guarantee to achieve sociality and public interests required in the modern enterprises. The purpose of this study is to formalize management ideology of enterprises in Daegu Area by means of comparative study on the degree of separation of ownership and management among enterprises in the United States, Japan and Daegu Area, thus to advise enterprising men of management idea-logy formalized. Findings from the comparative study are as follows 1. There are differences in staffing and financing between enterprises of the United States and those of Japan and Daegu Area. 2. Degree of Separation of ownership and management in Japan and Daegu Area is much less than that of the United States, and 3. The degree of separation of ownership and management is higher in open enterprises in Daegu Area. Accordingly. enterprises in Daegu Area should adopt up-to-data management theory and techniques in order to be developed themselves, and furthermore, to contribute to both the nation and the local community in economic development. In modern industrial society, the scale enterprise organization is growing very rapidly and the managerial circumstances are very much complicate and variable , thus the demand for the competent managers equipped with management knowledge and ability are high. The necessity of systematic and efficient managerial training is social demand needed urgently in modern industrial society. Therefore, it is necessary for the enterprising men in Daegu Area to establish cooperation system between university and industry in which they can participate voluntarily.luntarily.

• The Korean Journal of Health Service Management
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• v.10 no.2
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• pp.49-58
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• 2016

Objectives : The purpose of this study was to find factors affecting the cost-reduction practice of clinical nurses. Methods : The Data were collected from Feb. 25, to Mar. 15, 2015.the Total subjects were 201 nurses working in secondary-care hospitals located in Busan Results : The Meaningful variables that explain the cost-reduction practice in clinical nurses were psychological ownership, religion, and marital status in that order. Total explanation power was 22.1.% and psychological ownership has most explanation power. Conclusions : Psychological ownership and economic consciousness need to improve to develop cost-reduction practices. Additionally, nurses with and low concern about finances need to receive financial-related education.

• Korean Management Science Review
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• v.25 no.3
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• pp.123-133
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• 2008

We investigate the relationship between ownership structure and firm performance. For this paper, we use the 'donation' figure from the income statement of each firm as a measure of firm Performance lather than short-term financial measure that has been wifely used by previous studies. Our results are consistent with the idea that family ownership is both prevalent and substantial in Korea. More importantly, however, non-family firms are found to give more donations than family firms. This suggests that non-family firms more readily recognize the significance of corporate social responsibility and play an active role in philanthropy.

• Korean Management Science Review
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• v.32 no.2
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• pp.15-35
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• 2015

Large business groups typically have central firms through which their controlling families establish (or acquire) new firms and maintain control over other member firms. Research on corporate governance has developed metrics to identify those central firms and investigated an impact of the centrality on ownership structure and firm's financial performance. This paper introduces centrality metrics used in social network analysis (SNA) to measure how crucial a role each firm plays in the ownership structure of its business group. Then, the SNA centrality metrics are compared with the metrics developed in corporate governance field. Also, we test the relationship between the SNA centrality metrics and firm's value. Experimental results show that the SNA centrality metrics are closely correlated with the centrality metrics used in corporate governance and are significantly correlated with firm's value.

• International Journal of Advanced Culture Technology
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• v.11 no.1
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• pp.103-109
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• 2023

This study examines the association between ownership structure and labor investment efficiency. Specifically, this study investigates whether owner-manager firms, where managers own a large percentage of shares in the firm, involve in more efficient labor investment. Based on the management entrenchment hypothesis, managers are more likely to make labor investment decisions to maximize their private benefits rather than creating value for shareholders, resulting in lower efficiency in labor investment. On the other hand, according to the incentive alignment hypothesis, managers tend to make labor investment decisions that will improve future firm performance as their interests are aligned with those of shareholders. In this situation, owner-manager firms are expected to have higher efficiency in labor investment. Our empirical results show that owner-manager firms engage in more efficient labor investment, which contributes to long-term firm value. This study provides empirical evidence that firms' labor investment behavior can vary depending on the characteristics of the ownership structure.

• Korea Journal of Hospital Management
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• v.12 no.1
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• pp.100-127
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• 2007

The purpose of this study is to reform the productive industrial relations in hospital. Because the industrial relations of hospital is antagonistic each other and this problem cause a low productivity. In Korea, hospitals maintain their ownership structure, strategy is controlled by government, short process of management, and culture of grade. The executive of hospital doesn't gain the confidence of union. This circumstances is related with the antagonistic industrial relations. This research is to analyze hospital management system through experiential and literature study, and is to present a reform strategies for cooperative industrial relations of improving productivity in hospital. As a results, if the hospital manager hopes to improve productivity, they should introduce expert management system rather than ownership and management system. And it is need to execute the hospital initiative strategy rather than to depend on the government. Moreover, the hospital can achieve productive industrial relations as a middle-long term visions in management process and horizontal organization culture. Although this study is limited by literature research, it will contribute to settle productive industrial relations in hospital and to accomplish the additional study.

• Management & Information Systems Review
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• v.28 no.2
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• pp.113-134
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• 2009

The purpose of this paper is to investigate the relationship between foreign ownership and firm value. Based on the sample of 3,398 firm-year observations in the period of 2000 to 2007, we find evidence that foreign ownership is positively associated with firm value measured by the market-to-book ratio. In addition, we employ simultaneous equation system where both foreign ownership and firm value are treated as endogenous variables. Simultaneous regression models indicate that the foreign ownership affects firm value, but not vice versa. The positive effects of foreign ownership on firm value result from monitoring and disciplining roles played by foreign investors. Many Korean firms have been run by an owner-manager while monitoring provided by institutional equity holders has been limited. Therefore, Korean firms are expected to suffer from more severe agency costs caused by the conflicts of interest between owner-managers and outside investors. Our empirical results support the notion that foreign investors play an important role in enhancing corporate transparency and improving corporate governance.

• Knowledge Management Research
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• v.21 no.3
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• pp.161-176
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• 2020

Numerous products have been created in a digital format in the era of digitization. At an early stage, such products were provided in the format of individual digital file, requiring the individuals to own products by downloading them on the personal devices. With the development of Internet network, people began to consume digital goods in a new mode called 'streaming.' Streaming is a service provided through access-based consumption mode based on Internet network. Rather than downloading each file, individuals can utilize such product and services by connecting the network to their own devices. Access-based digital goods are distinguished from traditional ownership-based digital goods such as downloaded contents, in that permanent ownership is not allowed. Taken this into account, this study attempts to investigate how individuals' perception toward digital goods, the psychological ownership, differs according to the consumption mode. The results show that individuals feel less psychological ownership toward access-based digital goods than ownership-based digital goods. Our study provides several avenues to both theory and practice.

• The Journal of Industrial Distribution & Business
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• v.6 no.4
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• pp.27-37
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• 2015

Purpose - This study first explores the possible dynamic relationship between ownership structure and firm performance using a panel of 4,900 Chinese-listed small- and medium-sized enterprises (SMEs) from 1999 to 2012. Research design, data, and methodology - We address this issue through a dynamic panel model using a method of moments (GMM) technique and dynamic simultaneous equations to alleviate the potential endogenous problem: unobserved heterogeneity, simultaneity, and dynamic endogeneity. Results - Under the framework of dynamic endogeneity, firm performance has a significantly positive influence on ownership, but not vice versa. Ownership and performance can be explained by their owned lagged values, respectively. Moreover, intertemporal endogeneity exists among ownership, investment, and performance through the application of system dynamic equations, which implies that the relationship among ownership structure, investment, and firm performance is dynamic by nature. Conclusions - This study also significantly contributes to a better understanding of dynamic corporate governance by providing further empirical evidence from the largest capital market in the Asian region.

• Asia-Pacific Journal of Business
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• v.10 no.1
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• pp.25-38
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• 2019

This study investigated the relationship between psychological ownership and the innovative behavior of Korean employees. This paper also examined whether job satisfaction positively mediates the above relationship. In addition, we address the moderating role and moderated mediation role of job engagement in the relationship between job satisfaction and innovative behavior. By using cross-sectional data, with questionnaires administered to 289 employees working in Korean hospitals, the main hypotheses were tested. The result of empirical analysis has shown that psychological ownership was significantly positively related to both employee innovative behavior. The results also found that job satisfaction positively mediated the relationship between psychological ownership and innovative behavior of employees. In addition, there was significant moderating effect of job engagement on the relationship between psychological ownership and job satisfaction and the moderating mediating role of job engagement was found.