• Journal of Korea Society of Industrial Information Systems
• /
• v.28 no.6
• /
• pp.173-187
• /
• 2023

This study aims to determine whether ESG performance positively affects foreign ownership for listed firms that publish sustainability reports. Furthermore, we test whether the disclosure of environmental information in the sustainability report in accordance with the TCFD recommendations moderates the relationship between ESG performance and foreign ownership. The results of the empirical analysis are as follows. First, there is a positive correlation between ESG performance in a given year and foreign ownership in the following year, i.e., the higher a firm's ESG performance, the higher its foreign ownership. Second, the presence of environmental disclosure in accordance with the TCFD recommendations positively moderates the relationship between ESG performance and foreign ownership, i.e., environmental disclosure in accordance with the TCFD recommendations strengthens the positive relationship between ESG performance and foreign ownership. In conclusion, this study shows that foreign investors invest more in companies with better ESG performance, and the effect is stronger for companies that disclose environmental information in accordance with TCFD recommendations.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.11 no.1
• /
• pp.257-263
• /
• 2010

We studied about the difference of division public announcements by corporation size and ownership structure from 1999 to 2005. The results is as follow : First, we found most positive numbers in division corporation's CAR. This supports the existing research that corporation division is evaluated positively in the market. We found CAR as largest shareholders' holding more than 40%, which is greater than 0-20% & 20-40%, that shows relatively more negative CAR. So, the exceeded largest shareholders' holding rate (i.e., over 40%) can be a factor for decreasing corporations' value. Also, most positive CAR shows relatively small variation regarding corporation size knowing that big sized corporations have relatively small variation than small sized corporations. Second, we studied about relationship between corporate ownership structure and division public effects and found relatively a little effect by large shareholders, foreign investors' holding variables on division public.

• The Journal of the Korea Contents Association
• /
• v.8 no.3
• /
• pp.215-224
• /
• 2008

For global companies that are going to raise funds from international capital markets or to which lots of foreign investment are being given, it is necessary to prepare consolidated financial statements. This study provides the results of some analyses in accordance with the system of consolidated financial statements disclosure. First, disclosing those statements with audit opinion reflected would provide useful reliable and financial information. Second, such disclosure as foresaid would meet international standards that consolidated financial statements are used as main financial statements and separate financial statements as auxiliary ones. The disclosure system would make it possible for domestic corporations to introduce international accounting standards earlier, especially from 2009, in accordance with the road map of those standards. Third, the system of consolidated financial statements disclosure would play an important role in promoting the implementation of consolidated taxation systems under which corporate tax is levied in accordance with consolidated balance sheet.

• Korea Trade Review
• /
• v.41 no.5
• /
• pp.63-87
• /
• 2016

Despite its rising labor costs these days, China still serves the role as 'World's Factory' thanks to a great deal of foreign direct investment, still remaining one of the world's highest, and the global companies, which have been willingly establishing foreign subsidiaries in China. While enjoying the benefits from the Chinese market, these global companies can now take advantages of another market; the one of Korea. If a product produced by a certain global company is actually manufactured in the local factory in China and the product meets specifications of Rules of Origin, the product shall receive preferential treatment under China-Korea FTA. In the perspective of global market, therefore, it is found that China-Korea FTA may have negative effects on chemical industry in Korea, which is considered one of the representatives of China-Korea FTA. This study examines such risks by network analysis, with several cases of 'Beauty or Make-up Preparations (HS Code 3304).' Analysis shows that Korea is classified as the marginal country group but not main country group when it comes to beauty products family. So this can be a great chance to the global cosmetic companies with local factories in China in the sense that they can increase their sales towards the market of Korea based on the China-Korea FTA. Under these concerns, this study suggests two policy alternatives for the chemical industry in Korea to deal with current challenges rising from China-Korea FTA. The suggested alternatives are: to actively attract the global chemical corporations which are yet to directly enter the Chinese market; and to invest on chemical products with high potential of growth as a priority.

• Management & Information Systems Review
• /
• v.38 no.3
• /
• pp.35-53
• /
• 2019

A standing auditor can perform the monitoring and control activities for the opportunistic behaviors of top manager. However, for this purpose she/he must have the independence from top manager. Thus, this study is designed to analyze the factors that influences the independence of standing auditor. The independence of standing auditor as dependent variable was measured in terms of school and company ties to top manager. The relationship between the shareholding of professional top manager and independence of standing auditor, and the moderating effects of the shareholdings of related-party, institutional investors, and foreign investors were examined by implementing multiple regression and conditional moderating effect analyses. The findings present a negative relationship between the shareholding of professional top managers and the independence of standing auditor. They also reveal a positive moderating effect of the shareholding of related-party on that relationship. On the other hand, the shareholdings of foreign and institutional investors did not significant change the relationship between the shareholding of professional top manager and the independence of standing auditor. The findings imply that professional manager might be able to lower the controlling mechanism by appointing a standing auditor having low independence. Related-party as an internal control mechanism might be beneficial to reduce this effect while institutional investors or foreign investors as an external control mechanisms might not. This is the first study that examine the antecedents of the independence of standing auditor in terms of the characteristics of ownership structure. It provides a guideline for selecting an effective standing auditor with the consideration for ownership structure.

• International Area Studies Review
• /
• v.14 no.2
• /
• pp.107-129
• /
• 2010

This study does the logistic regression analysis in a survey how Korean Small and Medium Enterprises(SMEs) recognize the effects of the Korea-India Comprehensive Economic Partnership (CEPA) on their business activities and strategies. The results show that Korean SMEs which have relatively more employees and bigger size in terms of sales have interest in the Korea-India CEPA. In particular, the SMEs which are engaged in their business activities with India have more interest in the CEPA than those that have not any business relations with India. However, the results show that they will not enter or expand their business fields in India even though the CEPA starts. It implies that Korean SMEs recognize that the CEPA will not affect their business significantly. Thus, this study has a policy implication for government to adopt/establish policies for SMEs utilizing the CEPA. It includes information services about the CEPA, India markets, a political corporation between the Governments for improving the partnerships in the trade and FDI and so on.

• Journal of Information Technology and Architecture
• /
• v.11 no.2
• /
• pp.217-223
• /
• 2014

This paper aims to explain the reasons of manufacturing's reshoring (U-turn) and to suggest the supporting law and policy and the utilization of enterprise architecture (EA) in order to attract reshoring manufacturers into port logistics park. First, this paper found the reasons of reshoring reviewing the previous researches. The reasons are 1) advanced country's manufacturing competitiveness in total production cost compared to the emerging countries such as China, 2) the government policies enhancing the reshoring of their enterprise, and 3) the deterioration of management environment of foreign companies in the emerging countries. Second, this paper reviewed the supporting law and policy of korean government for reshoring manufacurers, and suggested the method to attract them into port logistics park. The current law to support the reshoring manufacturers does not have articles about moving into the port logistics park in order to help global trade from outsourcing countries. Finally, this paper provided the method of utilization of enterprise architecture to help reshoring decision making to get their benefit for the future and collaboration among related government departments with the ministry of maritime affairs and fisheries.

• Journal of the Economic Geographical Society of Korea
• /
• v.2 no.1_2
• /
• pp.145-167
• /
• 1999

The aim the this paper is to explore the processes of three Korean consumer electronics chaebols'entries into, and exits from tile EU in the context of European integration and enlargement and at the global, regional(EU), national and local level. Korean FDI in the EU has increased sharply since the late 1980s, while interacting with the processes of European integration and enlargement. In particular, the chaebols'FDI was caused by reactions against the intensification of Euro-trade regulations. As a result, these defensive entries have led such chaebols to create a strategy of ‘defensive Europeanisation’through the formation of forward and backward linkages between chaebols’affiliates and Korean suppliers within the EU. Nonetheless, defensive FDI has given rise to exits through active relocation within and outside the EU, since the ‘late 1980s’due in the main to (1) sensitive reactions against changing EU trade regulations and (2) failures to maintain cost-competitiveness in particular host regions. Along with these trends, chaebols’entries and exits are placed in contingent and paradoxical structures of the global -regional - national-local nexus, which has resulted from the mismatch of different EU policies such as trade, inward investment and regional policies.

• Journal of Korea Port Economic Association
• /
• v.25 no.1
• /
• pp.87-106
• /
• 2009

This paper is intended to suggest benchmarking ascension for the Gwangyang Port as a hub for international logistics. Most countries that seek to join. and lead, the global trading system as they work to develop production and logistics systems that establish a reputation for leadership in international logistics. Our focus in this research is on the Gwangyang Port and whether Gwangyang Port is capable of carving out a competitive niche as a hub of international logistics. Our analysis is based on comparison and analysis with benchmark port developments around the world. As proposals to promote and activate Gwangyang Port as a hub for international logistics, we recommended in this paper several benchmarks. First, Gwangyang Port FTZ must strengthen the incentive system for tenant companies and providing an inducement for new global companies. Second, Gwangyang Port needs to moderation of regulation on the investment tenant companies and strengthening one-stop service. Third, it is required to stabilize labor and management relationship and securing of flexibility of labor market. Lastly, Gwangyang Port must strengthen mutual interaction of Free Economic Zone (FEZ), Customs Free Zone(CFZ) and Free trade Zone(FTZ) in Korea.

• Korea Trade Review
• /
• v.41 no.5
• /
• pp.89-111
• /
• 2016

The Mega-FTA is intended for emerging economies, including developed economies, to expand economies of scale in a single market. The Bilateral FTA shall take into account the relevant industries and the inter-country related industries to adjust the origin standard and preferential tariff rates. Therefore, certain competitive industries can expect foreign investment and re-investment in the domestic market as well as expansion of the market in the region. However, the mega-FTA should expand the size of the economy under the same preferential tax rates for many Partner countries. The Mega-FTA can maximize the effectiveness of the agreement by making use of the competitive advantages of the participating countries. In the mega-FTA, Cumulative Criteria should be appropriately used as a supplemental standard of origin. The Cumulative Criteria is an important FTA utilization factor that determines the success of the mega-FTA. Using FTA, Korea should export locally produced materials using cheaper labor force in FTA partner country. In addition, in order to prepare the Mega-FTA, which allows full cumulation, it is necessary to encourage the overseas transfer of low-cost structure materials processing industry so that the material suppliers can be transferred to the area where production cost is lower and raw material supply is easier.