• Journal of the Korea Convergence Society
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• v.10 no.5
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• pp.213-219
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• 2019

This study is designed to analyze the effect of entrepreneurship orientation of owner managers on product innovation performance through user innovation participation by using Korea Innovation Survey 2014 (KIS 2014) conducted by STEPI (Science and Technology Policy Institute). The findings show that entrepreneurial orientation of owner managers measured by a proxy variable of ownership ratio has positive relationship with innovation performance of firms. They also present that user innovation activity has a partial mediating effect on the relationship between the entrepreneurial orientation of owner managers and innovation performance of firms. This study suggests that the higher the entrepreneurial orientation of the owner manager, the higher the innovation performance. The innovation performance can be intensified when the open innovation strategy is implemented through the user participation.

• Journal of The Korean Society of Grassland and Forage Science
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• v.43 no.4
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• pp.248-256
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• 2023

As a means to activate eco pastoral system in alpine grassland, the government can consider public pastures, which are currently unused, to scale them up into public ranches. Depending on ownership and operation, four management models proposed as follows: 1) Government-Owned and Operated with Balanced Profit and Loss 2) Government-Owned and Operated with Revenue Generation 3) Government-Owned but Privately Operated by Outsourced to Professional Manager 4) Full Privatization (Ownership and Operation by Private Individuals). The study outlined above proposes four management models for the activation of eco pastoral system in alpine grassland. It also suggests methods for the selection and performance evaluation of manager to establish a profitable structure. Additionally, the research provides management methods for the conservation of grazing ecology in pastoral ecosystems. Particularly, the adaptation of tools commonly used in South Korean business sector for the selection and performance evaluation of manager within the system of the proposed management models. This aspect is deemed valuable as it aligns these tools with the specific characteristics of eco pastoral system in alpine grassland, contributing not only to the effective implementation of the models but also to the enhancement of the revenue structure.

• Electronics and Telecommunications Trends
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• v.24 no.2
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• pp.131-141
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• 2009

통신서비스 시장은 유무선 및 통신과 방송서비스의 컨버전스화가 진행됨에 따라 미래 시장에서의 경쟁구도에 관심이 집중되고 있다 최근 영국, 이탈리아 등 유립을 중심으로 지배적 사업자의 병목설비에 대한조직분리의 일환으로 기능분리가 활발하게 논의 및 도입되고 있다. 이 중 이탈리아는 TI에 대한 운영분리 수준의 구조규제를 기능분리 수준으로 강화하였다. 이는 운영분리와 같은 구조적인 조치에도 불구하고 TI의 지배력 유지, 경쟁 사업자들의 지속적 불만 제기 등의 문제가 해결되지 않은데다가 TI의 소유구조 변화에 따른 네트워크의 안정성 및 보안성에 대한 우려에 따른 것으로 해석되고 있다. 이탈리아의 기능분리는 동등접속을 위한 사업부로 Open Access의 설립, 신규 인센티브 제도, 각종 투명성 확보장치, 감독기관의 신설 등의 내용이 포함되어 있으며 근본적인 원칙은 영국의 경우와 유사하다. TI는 기능분리를 통해 규제기관과의 관계 개선, 소매시장 규제완화 등의 효과를 기대하고 있으며 2008년 2월 Open Access를 출범하였다.

• Proceedings of the Korean Society of Computer Information Conference
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• 2014.07a
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• pp.375-378
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• 2014

예전 기업 그룹웨어 환경은 기업 소유의 기기을 활용하는 사내에 출근한 직원들 대상으로만 서비스 하였다. 그러나, 스마트폰 보급이 확대되면서 사외에서 기업내부로 접근하여 그룹웨어 등을 활용할 수 있는 스마트워크 서비스가 발전하였다. 또한 사내로 반입된 개인 소유 단말 기기가 그룹웨어 서비스를 접속할 수 있는 BYOD 도입 기업들이 증가하고 있다. BYOD, 스마트워크 환경에서 기기 접속 위치, 시간 등 다양한 접속 상황을 활용한 보안정책 관리 구조를 연구하였다. 본 논문에서는 서비스 접속 이후 보안에 취약한 서비스 접근 상황정보 중심 보안정책의 한계를 개선하기 위하여 서비스 웹/DB 서비스 이용 상황정보 기반 보안정책 구조를 제안한다.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.1-39
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• 2003

Using a comprehensive sample of convertible security offerings by Korean firms from 1981 to 1999, we examine the effect of convertible bond issues on firm value. We find that the announcement of convertible bond issues has a positive effect on firm value. However, the announcement of private convertible bond issues by chaebol firms has a significant negative effect on their market values. This result is different from that in Japan, suggesting that the efficiency of the financing decision by Korean chaebol is different from that by Japanese keiretsu. In addition, we find that the announcement effect of private convertible bond issues by chaebol firms has a significant relation with the corporate governance variables such as ownership structure, bank relationship. These results indicate that convertible bond issues can be used as a mechanism for chaebol owner-manager to give rise agency problems at the expense of the wealth of minority shareholders.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.19 no.37
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• pp.195-199
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• 1996

The objectives of this study are to analyze, based upon agency theory, empirically the relevance between ownership structure and corporate performance. In this study, samples are 285 firms listed in Korea stock exchage from 1990 to 1994. The results of this empirical test are summarized as follows : Insider-equity ratio of firm in Korea has been positively correlated with performance of corporate. This study intended to present the desirable implecations for seperation of ownership and management.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.3-36
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• 1992

"Corporate control by owners" characterizes the current structure of ownership, control and management of big business groups in Korea. It has become an ever more serious obstacle for the Korean economy to end its distinctive "personal capitalism" and to transform the current system into people's capitalism. The current issue, the deconcentration of ownership, through the course of heated debates should be treated from an integrated perspective. That is, the debate should center on the concentration of economic power and it effects on national economy, instead of sticking to the issue of ownership-control issue per se. This paper, by referring to the historical experiences and development paths which advanced countries have already traveled, analyzes the respective aspects of the concentration issue in a rather descriptive and taxonomist manner - market concentration, business diversification, ownership concentration, integrated management of conglomerates, i.e., managing in groups' unit, and the roles of financial institutions. The government policies against the concentration of economic power have so far focused on the size of big business groups and their diversification activities. The two major policy measures are restrictions on cross-ownership and excess capital investment by big business groups, and controls on their credit deals. This paper strongly suggests that the government should change its current priorities in targeting its policies against concentration. The government should reduce the regulations on size and diversification, and focus its policies on substantial dispersion of corporate ownership. The efficacy of government intervention in the management and control of business enterprises seems quite dubious and even anachronistic given the extent of maturity of Korean firms. Therefore, it should be noted that the current regulation-oriented stance taken by the government against the management style of big business groups should be suppressed, as it has assumed some a priori and typical pattern in advance in directing big business groups, such as independent and specialized management in respective firms' unit. This paper, also, raises the need for introducing new regulations on inter-sectoral diversifications between finance, industry and the press.

• Korea Trade Review
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• v.41 no.1
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• pp.67-90
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• 2016

This study examines whether there is any significant relation between executive compensation and future firm performance for the Korean export manufacturing small and medium-sized firms. We sorted the whole sample firms into the sub-groups of 10 deciles by firm size and the KSIC standard. We found the following empirical results. First, Korean export manufacturing small and medium-sized firms typically showed lower or even negative profitability in terms of return on equity and operating profit ratio to sales. Foreign equity ownership is very low with an average of 3.77%. Second, for the firms with higher ratio of excess executive compensation to asset had lower future firm performance. It implies that the typical owner-manager in Korean export manufacturing SMEs earns excess pay, but do not contribute much to firm performance. Third, as for future cumulative abnormal returns for future one- and three-year periods, firms with higher owner-executive pay had lower returns compared with firms with lower pay. So the stock market investors set a lower value on them. Fourth, there is a positive relation between excess executive pay and executive overconfidence, and it implies that owner-CEOs with higher pay may become overconfident, thereby lowering future firm performance somehow.

• KDI Journal of Economic Policy
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• v.23 no.1_2
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• pp.5-70
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• 2001

The often raised arguments against allowing Chaebol's ownership of banks, that is, 1) the banks may virtually be transformed into private cash vaults of owners, and 2) conflicts of interests may develop and be possibly abused by chaebols, do not hold under ordinary free market circumstances. Only under some special circumstances in which government imposes artificial regulations on banks such as interest rate ceilings, or provides preferential protection like guaranteeing bank's liabilities, the aforementioned worries can be materialized.

• The Korean Journal of Financial Management
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• v.10 no.1
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• pp.161-180
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• 1993

본 논문의 목적은 일본기업집단(日本企業集團)의 재무(財務) 및 소유구조상(所有構造上)의 대표적 특징이라고 할 수 있는 상호주식보유(相互株式保有)에 대하여 역사적 형성과정을 살펴보고 기업재무입장에서 그 기능 및 역할을 분석하여 시사점을 얻는 것이다. 상호주식보유의 역사적 형성과정을 보면 2차 대전후 일본의 주요 재벌이 해체되고 강력한 소유분산정책이 시행되었지만 증자의 어려움과 경영권 침해라는 문제를 해결하는 차원에서 금융기관을 중심으로한 상호주식보유의 원형이 형성되었고 그후의 진행과정도 소유분산의 부작용을 해소하는 차원에서 진행되었다. 상호주식보유가 갖는 기업재무상의 의미는 다음과 같다. 첫째, 성숙되지 못한 자본시장을 대신하여 경영자를 감시할 수 있는 메카니즘으로 해설될 수 있다. 둘째, 광범위한 상호주식보유로 일본의 주요은행을 거래기업들에 대해서 채권자임과 동시에 유력주주가 되고 있는델 이러한 구조는 기업의 부채사용에 따른 대리인문제(代理人問題)(ageney cost of risky debts)를 해결하여 일본기업의 자본비용을 낮추는데 기여하고 있는 것으로 분석된다.