• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.1
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• pp.21-35
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• 2021

Based on social capital theory, this study investigated the influence of the start-up founder's social competence on the start-up's access to funding sources and performance through the mediating role of the type of social network. This study aimed to examine two types of social networks empirically (i.e., personal networks and business networks) as social capital in analyzing the effect of the founder's social competence and social capital on the method of accessing funding sources. A self-report questionnaire was administered to 252 South Korean start-up founders whose businesses are based in South Korea. Path analysis and mediation effect analysis were performed by structural equation modeling(SEM) using STATA 16.1. This study examined the full mediating effect of the founder's social competence on his/her personal and business networks, respectively, and how the effect leads to different methods to approach funding sources. This is the first study in South Korea to analyze empirically how social competence has contrasting effects on personal and business networks as well as how each type of network varies in its influence on the method founders use to attract investment. This study is also significant in that it proposed a new methodology by utilizing the position generator as the measure of personal and business networks to analyze social networks in detail. The analyses of 252 survey data collected over a period of six months will be a valuable resource that may provide researchers, founders, investors, and other stakeholders in the start-up ecosystem with meaningful implications.

• International Commerce and Information Review
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• v.19 no.1
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• pp.279-304
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• 2017

The objective of this study has two filds. The first is to examine the effect of native employee's psychological capital on their pro-social organizational behavior in the context of a local subsidiary in abroad. The second is to investigate the moderation effect of non-native managers' leadership type in the relationships between psychological capital and pro-social organizational behavior. The researcher provides the theoretical research model based on the pro-social capital theory and then empirically tests the model by using a valid 334-case collected from three overseas-affiliated-companies in Philippines. The results show that native employees' psychological capital positively and significantly influences to pro-social organizational behavior. Moreover, non-native managers' type of leaderships has the significant moderation effects in relationships between native workers' psychological capital and pro-social organizational behavior. Specifically, stronger relationships are identified in all of relationships when the managers show transactional, transformational and authentic leaderships. Theoretical contributions and practical recommendations are also discussed based on the results of the study.

• Asia pacific journal of information systems
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• v.24 no.3
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• pp.281-297
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• 2014

This study aims at empirically analyzing the relation between employees' personality and their knowledge sharing intentions, on which enough light has not yet been shed in spite of its importance. By integrating the big five model of personality with social capital theory and social cognitive theory, this study develops six hypotheses concerning the relation and empirically tests them by using 724 samples collected from employees in practice. The empirical analysis results from this study reveal that employees' extroversion and agreeableness are positively associated with their social relations and that their openness to experience and conscientiousness are positively associated with their knowledge self-efficacy, which are positively related to their knowledge sharing intentions. Based on the new findings, theoretical and practical implications are provided for knowledge management researchers and managers in practice.

• Journal of the Korean Institute of Landscape Architecture
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• v.31 no.5
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• pp.73-85
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• 2003

With more and more people paying attention to substantial democracy, participatory democracy is presented as a practical strategy and an index of Korean democracy. In this social and political atmosphere, participation in environmental planning and design is essential. Nonetheless, the true meaning of “participation” is not used properly because many people do not understand it correctly, The concept of social and political participation is “the action or attempt of ordinary members of society for affecting on the result of decision making.” Based on this concept, participation is accomplished through conventional means and as a form of mobilization in environmental planning and desist Most of the theories on public participation in landscape architecture are technical theories. Therefore, this paper proposes that planning and design of landscape architecture be understood as a communicative action that aims to enable stakeholders to reach a consensus through communication. This study offers the framework of theory to understand and practice planning and design of landscape architecture as a communicative action, after reviewing communicative action theory and communicative planning theory. Results suggest that communicative action theory should be accepted in landscape architecture to overcome the shortcomings of instrumental rationality -- the same way planning theory accepted this theory --and to join the culture of experts focusing on the artistic truth and the culture of life of the world. In addition, accepting communicative action theory enables the acquisition of the instrumental effect and social learning effect and the making of social capital. This study also suggested prerequisite for using the method. There should be change in the social institution and in individual action. In addition the method is composed of three steps: creating the atmosphere for communication; communicating, and; reaching a consensus among stakeholders. Finally, raising the possibility of applying the theory presented in this study requires the accumulation of know-how through trial and error.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.23-31
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• 2024

The paper investigates the influence of government-led projects on investors' decision-making reference points, using Prospect Theory and Human Capital Theory. It empirically explores whether government initiatives shift investors' reference points, offering insights for private investments in government-backed ventures. The study, spanning from May 2017 to May 2022, compares 51 companies involved in Korea's 'New Deal' policy to 49 non-participating companies. It considers founders' human capital elements such as past startup experience, technical and managerial industry experience, education level, and graduate school reputation. The analysis reveals that only the reputation of the founder's graduate school has a significant negative effect, implying a conservative approach by investors towards government-led projects. This highlights the need for investors to consider the founder's social capital and the impact of government support on venture growth and public offering pace.

• Proceedings of the Korean Institute of Landscape Architecture Conference
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• 2007.10b
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• pp.54-59
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• 2007

The purpose of this paper is to study the development of city parks in Japan since the 1970's. The result of investigation is as follows; (1) Regarding research of city parks since 1970, applying the qualification theory III, The researches of the park were divided into the categories as follows; ( i ) children's playground, (ii) the spatial function of green tracts of land, (iii) the evaluation of actual use viewpoint , (iv) the historical viewpoint, ( v ) the natural environment protection viewpoint, and (vi) the social capital, citizen's participation and park management viewpoint. (2) the researches of the actual use viewpoints are increasing. This trend shows that the research viewpoints have been shifted from the individual using to the various subjects of using. (3) The researches of the historical viewpoint, researches focusing on Asia are increasing. This trend shows that the research viewpoints have been shifted to the relationship between the planning and the realization. (4) The research on the natural environmental protection viewpoints has seen a large expansion from the evaluation of forest in parks. (5) The social capital, citizen's participation and park management viewpoint were increased, as well as community development and the spreading effect.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.1-16
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• 2012

Under the international business circumstance, global supply chain management is considered a vital strategic challenge to small and medium-sized enterprises(SMEs) suffering from deficient resources and capabilities to exploit overseas markets comparing with large corporations. That is because they can expand their business domains into overseas markets by establishing strategic alliances with global supply chain partners. Although a wide range of previous researches have emphasized the cooperative networks in the chain, most are ignoring the importance of developing relational characteristics such as trust and reciprocity with the partners. Besides, verifying the relational factors influencing firms' export performances, some studies proposed different and inconsistent factors. According to the social capital theory, which is the social quality and networks facilitating close cooperation of inter-individual and inter-organization, provides the integrated view to identify the relational characteristics in the aspects of network, trust and reciprocal norm. Meanwhile, a number of researchers shows that global entrepreneurship is the internal and intangible resource necessary to promote SMEs' internationalization. Upon closer examination, however, they cannot explain clearly its influencing mechanism in the inter-firm cooperative relationships. This study is to verify the effect of social capital accumulated within global supply chain on SMEs' qualitative and quantitative export performance. In addition, we shed new light on global entrepreneurship expected to be concerned with the formation of social capital and the enhancement of export performances. For this purpose, the questionnaires, developed through literature review, were collected from 192 Korean SMEs affiliated in Korean Medium Industries Association and Global Chief Executive Officer's Club focusing on their memberships' international business. As a result of multi-regression analysis, the social capital - network, trust and reciprocal norm shared with global supply chain partner - as well as global entrepreneurship - innovativeness, proactiveness and risk-taking - have positive effect on SMEs' export performances. Also global entrepreneurship affects positively social capital which has mediating effect partially in the relationship between global entrepreneurship and performances. These results means that there is a structural process - global entrepreneurship(input), social capital(output), and export performances(outcome). In other words, a firm should consistently invest in and develop the social capital with global supply chain partners in order to achieve common goals, establish strategic collaborations and obtain long-term export performances. Furthermore, it is required to foster the global entrepreneurship in an organization so as to build up the social capital. More detailed practical issues and discussion are made in the conclusion.

• Korean journal of communication and information
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• v.32
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• pp.295-332
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• 2006

This study inquires at behavior and attitude of gatekeepers at major Korean media in the process of selecting and covering newsmakers, with focusing on factors, paths and practices in making news on the people. The study assumes that gatekeepers' social networking process with social elites, based on birth places, alma mater and kinship, plays great role in making people in the news. The study applies methods of in-depth interviews with people-page gatekeepers and content analysis of news on newsmakers. The in-depth interviews and content analysis unveil that people-page gatekeepers tend to support high society and social elite group. Furthermore, through the process of news-making, the gatekeeper group shares social capital such as economic exchanges and socio-political influences with social elite group. The result of interviews and analysis confirm that social networking based on personal affiliation plays as an important factor in selecting and covering newsmakers. With in-depth analysis of news contents, the study finds out that social elite groups of top government officials, corporate CEOs, medical doctors, lawyers, judges, prosecutors, college professors, cultural celebrities and journalists, who are predominantly male, appear on people pages much frequently out of proportion. The content analysis also reveal that 'personal news,' which cover personal and private life or unilaterally promote newsmakers predominate in terms of frequency and amount over socially-important or pubic-interested 'public news.' In terms of news values, fragmentary news composed of sensational, personal and gossiping elements appear more frequently than socially-meaningful news with strong social issues and public messages.

• Korean Journal of Culture and Social Issue
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• v.26 no.4
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• pp.409-433
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• 2020

This study attempted to verify the relationship between job burnout and organizational citizenship behavior among South Korean soldiers in the Navy force by applying the Job Demands-Resource Model and Conservation of Resource Theory, and the moderated mediating effect of social capital through the work engagement and smartphone use. The mediating effect of work engagement and the moderating effect of social capital via smartphone use were examined in the relation between job burnout and organizational citizenship behavior. We combine the mediation effect model and the moderation effect model and tested the moderated mediation effect. To perform this study, the survey was conducted on the navy soldier on duty, and total of 324 data were analyzed. The results of this study were as follows: the complete mediation effect of work engagement in the relation of job burnout and organizational citizenship behavior was verified, social capital via smartphone use moderated the relation between job burnout and work engagement, and the moderated mediation effect of social capital via smartphone use in the relation between job burnout and organizational citizenship behavior through work engagement was identified. Based on the results, implications, limitations, and future research directions of the current study were discussed.