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CEO Stock Incentive, Board of Directors, and the Performance of Chinese Corporations after the Stock Incentive Management Law in 2006 (주식인센티브 관리법 이후 중국 상장기업 CEO주식인센티브, 이사회, 기업성과의 관계)

  • Zhang, Rui-Zhi;Yoo, Jae-Wook
    • Management & Information Systems Review
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    • v.35 no.3
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    • pp.155-171
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    • 2016
  • Separation of management with ownership induces the agency problems between CEO and shareholders of Chinese firms. To solve this problem Chinese government has enforced the "stock incentive management law for stock listed companies" since 2006. However, it has not been clear that this law is beneficial to reduce the agency cost and thus to increase the performance of Chinese firms. This study aims to answer this question. It is specifically designed to explore the effects of CEO's stock incentive on the performance of Chinese firms. It also examines the moderating effects of the characteristics of the board of directors on this relationship. Using a multi-year sample (2008-2014), we found that CEO's stock incentive is positively related to firm's performance. We also found that the equity stakes of board members strengthens the positive relations between CEO's equity incentives and firms' performance. On the other hand, contrary to expectations, the independency of the board of directors does not significantly moderate the relationship between CEO's equity incentives and firms' performance. Based on the findings, this study provides valuable implication for theory and practice.

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The Effect of Internal Marketing Factors on Job Satisfaction and Organizational Commitment: Focused on Taxi Company in Kangwon Province (택시회사에서의 내부마케팅 활동이 직무만족과 조직몰입에 미치는 영향: 강원지역을 중심으로)

  • Jung, Key-Young;Kim, Jung-Won
    • Management & Information Systems Review
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    • v.31 no.3
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    • pp.185-222
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    • 2012
  • The purpose of this paper is to examine the effects of internal marketings including education and training, internal communication, reward system, and welfare to job satisfaction and organizational commitment in the taxi company in Kangwon province. The results of this study were as follows. Firstly, reward system and welfare are having the positive effect to job satisfaction, but education & training and internal communication are having negative effect on job satisfaction. Secondly, the result of the analysis on the effect of internal marketing to organizational commitment has shown that education & training, reward system, and welfare are have the positive effect on organizational commitment. Unfortunately, the internal communication has shown the negative effect on organizational commitment. Thirdly, the result of the analysis has shown that job satisfaction has the positive effect on the organizational commitment. Lastly, on the result of the hypotheses verification, the internal marketing has an effect to job satisfaction and organizational commitment partly and job satisfaction has a positive effect to organizational commitment. Therefore, through continuous effort of internal marketing activities make a positive effect on taxi driver's job satisfaction and organizational commitment and help to maximize the effectiveness of the organization.

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Critical Review on Social Welfare for the Elderly in Journal of the Korean Gerontological Society (한국노년학의 복지 분야 연구동향 - 1980년(창간호)부터 2008년(28권 제2호)까지의 논문을 중심으로)

  • Kim, Mee Hye
    • 한국노년학
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    • v.28 no.4
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    • pp.733-752
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    • 2008
  • This study aims to suggest the academic roles and direction of the social welfare for the elderly in Journal of the Korean Gerontological Society. For this purpose the trends of research on the social welfare for the elderly were analyzed by means of reviewing articles published from 1980 to 2008 in Journal of the Korean Gerontological Society. Out of all published articles, 215 articles were selected on the basis of unanimity among 3 reviewers including this author. First, in 1980s there were very limited numbers of articles. It had been mainly introduced foreign and domestic institutions of social welfare for the elderly and focused on the serious issues for the elderly in aging society. Secondly, in 1990s, there were explosive increases of research in elder welfare studies. The subjects of the articles were diversified and research methods were sophisticated in this period. Thirdly, it showed that the numbers, subjects, and research methods of the articles concerning social welfare for the elderly were enriched and differentiated during 2000-2004. Lastly, the research trends have focused on the issues of successful aging, quality of life, and psychological well-being in consideration of the quality of life for the elderly up to now since 2005. But the research trends have had some limitations in showing only application of theories and models or in simply introducing the knowledge in Western countries. It is necessary to have clear academic identity which can be faithful to Korean Gerontological studies.

Some evidence on time- and priority-dependent pricing in differentiated Internet Services (우선순위를 가진 인터넷 서비스 종량제와 종가제 사용에 대한 증거들)

  • Kim, Yong-Jae
    • Proceedings of the Korea Society for Industrial Systems Conference
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    • 2008.10b
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    • pp.547-550
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    • 2008
  • 인터넷 서비스가 차별화 되어야 한다는 논의는 인터넷이 본격적으로 상용화된 1990넌대 중반부터 꾸준하게 제기되어 왔다. Tragedy of commons 라고 불리는 인터넷 혼잡현상은 지속적인 기술발전으로 인해서 상당부분 해결되었으나, 최근 들어서는, Web 2.0의 등장을 통해 동영상 파일이 차지하는 비중이 늘어나면서 P2P를 통한 파일교환이 전체 인터넷 트래픽의 상당 부분을 차지하면서, 또한 실시간 미디어, VoIP 등의 인터넷 응용 프로그램 등에서 전송상의 지연을 포함한 QoS 보장을 요구하게 되면서, 또한 통신사업자의 망중립성에 관한 논의가 진행되면서, 인터넷 서비스를 차별화하고, 통제하려는 연구의 중요성이 증대되고 있다. 본 연구는 인터넷 서비스를 차별화하기 위한 수단으로 기존에 제시되어온 자격과 우선순위라는 2개의 차원에서 그리고 가격제도로서 종가제와 종량제의 차원에서 배경을 검토해본 다음, 우선 대기열 이론과 혼잡성 제어 이론을 통해서 차별화된 서비스가 전체 시스템에어떤 구체적으로 효익을 가져오는 지를 검토하며, 우선순위와 사용시간에 따라 차별화되는 종량제가 현실에서 발견되지 않는 이유에 대한 이론적인 근거를 제시하고, 종량제를 채택했을 경우에 발생하는 문제점과 종량제 사용에서 발생하는 한계들을 논의하면서, 현실적으로 종량제와 차별가격을 도입할 때 발생할 수 있는 문제점들을 밝혀본다.

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A Theoretical Study of fe Library Service Charter (도서관서비스헌장에 관한 이론적 연구)

  • Lee, Sang-Bok
    • Journal of the Korean Society for Library and Information Science
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    • v.40 no.4
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    • pp.287-305
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    • 2006
  • Many public libraries in Korea have a library service charter setting out the standard of service users can expect. It will help drive and sustain a process of continuous improvement in library service quality and help poster good relations with users, most of whom will appreciate library efforts to take account of their views. In this background. the purposes of the study are (1) to study a theoretical review of the library service charter, (2) to explore an analytical evaluation of charter's contents. through a library service charter of 'B' public library in located Gyeonggido. Analytical results generally. 'B' Public library's charter fulfills the charter's principles and criteria, but service practice standards are insufficient for appropriateness and realization.

'일과 삶 균형' 정책과 정책 부합성이 조직효과성에 미치는 영향에 관한 연구: 공공조직과 민간조직 비교를 중심으로

  • Kim, Seon-A;Kim, Min-Yeong;Kim, Min-Jeong;Park, Seong-Min
    • Korean Public Administration Review
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    • v.47 no.1
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    • pp.201-237
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    • 2013
  • 본 연구는 효율적 인적자원관리의 실행과 유지에 있어서 '일과 삶 균형(WLB: Work-Life Balance)' 정책의 중요성을 이론적·실증적 접근방식으로 규명하고자 하였다. 특히 본 연구에서는 WLB 정책을 유연근무제, 친가족정책, 개인신상지원 프로그램 등 3가지 차원으로 구분하여 제시하였으며, 분석대상을 공공조직과 민간조직으로 구분하여 기존 연구와의 차별화를 도모하였다. 연구모형 개발과 가설검증을 위해 제3차 여성가족패널(KLoWF) 자료를 바탕으로 WLB 정책과 정책 부합성, 직무만족도, 이직의도 간의 관계를 분석하였으며, 설문조사를 통한 양적 분석의 한계를 보완하기 위하여 공공조직 및 민간조직 여성 근로자와의 심층 인터뷰를 통한 질적 분석을 병행하였다. 분석결과, WLB 정책과 조직 효과성 간의 관계에 있어 공공조직과 민간조직 간의 유의미한 차이가 있음을 확인할 수 있었으며 심층 인터뷰를 통해 이러한 결과가 공공조직과 민간조직의 상호 이질적인 조직 문화, 제도, 구조적 특성에 기인하고 각 영역 구성원들의 서로 다른 욕구 및 동기 유발 체계에 의한 것임을 발견할 수 있었다. 이러한 분석결과를 바탕으로 본 연구에서는 각각의 조직 특성에 맞는 수요자 친화형 WLB 정책 구축의 필요성을 제안하고, WLB 정책 시행 측면의 문제점 및 개선방안 등을 제시하였다.

A New Form of Public Participation in Science and Technology : Two Cases of Doing 'Undone Science' in Korea (과학기술 시민참여의 새로운 유형: 수행되지 않은 과학 하기 -한국의 두 가지 사례 - 아토피와 근골격계 질환-)

  • Han, Jae-Kak;Chang, Young-Bae
    • Journal of Science and Technology Studies
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    • v.9 no.1
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    • pp.1-31
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    • 2009
  • The need and rationale for public participation in science and technology is widely acknowledged in academic communities and policy circles. In addition to institutionalized forms of participation, some STS researchers have paid attention to spontaneous forms of public participation, particularly with regard to social movement. This paper aims to explore a new form of public participation, which had been relatively neglected in STS studies. For this purpose, in this paper we examine environmental health issues and cumulative trauma disorders (CTDs) debates as examples of doing "undone science" in Korea. Our focus will be specifically on how environmental organizations and trade unions have both succeeded in making those issues as research and policy agenda for both scientific community and policy makers. In a concluding section, a couple of suggestions for further research are proposed.

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The Governance and Agent Problems of Public Agency: Focused on the Port Authority of New York and New Jersey (공기업 거버넌스 제도와 대리인 문제: 뉴욕.뉴저지 항만공사를 중심으로)

  • Kang, Yun-Ho
    • Journal of Navigation and Port Research
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    • v.33 no.10
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    • pp.743-756
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    • 2009
  • This paper tries to analyze how the governance institutions of the Port Authority of New York and New Jersey overcome agent problems in public agencies based on the Principal-Agent Theory, and find the implications that will be helpful to the governance of port authorities in Korea. The Port Authority's governance is characterized by decentralization of personnel rights, open meetings policy, freedom of information policy, public hearings, and fiscally self-supporting system. Those characteristics are helpful in overcoming the agent problems of public agency, such as adverse selection, moral hazard, and complicated external structure, through reinforcing of monitoring agent by principal, easing of information asymmetry between principal and agent, and clarification of organizational ownership structure. Those characteristics may give many implications for the design of governance structures of port authorities in Korea.

Local Autonomy and Training of public Librarians (지방자치와 사서직 공무원 연수)

  • Lee, Myoung-Gyu
    • Journal of the Korean Society for Library and Information Science
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    • v.36 no.3
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    • pp.311-330
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    • 2002
  • A public librarian is an occupation, which requires long-term. continuous training and difficult study to acquire and cultivate professional knowledge and skills. It is a necessity to achieve new knowledge, information and skills via appropriate retraining. A training system is the method which gives chances of retraining to public librarians. After examining some of the problems with the existing training system, it is apparent that the direction of training system needs to be decentralized. That is each local branch should be autonomous in terms of new training for librarians. For the method of training system, each autonomous unit would integrate the different theories to apply to the community-at-large and invite practical specialists from the local community to lecture. The training classes would be elective in that the each librarian could choose the classes he/she wants to take and give them credits for that, but the certificate for the class would also go towards completion for the required technical training. Finally, the utilization of cyber-education should be introduced, and the library association's role strengthened, to help public librarians cultivate their specialties.

A Study on an Improvement of the Fire-Protection System Category under the Enforcement of Housing Performance Rating System (주택 성능등급 표시제도 시행에 따른 소방시설 항목 개선에 관한 연구)

  • Lee, Su-Kyung;Lee, Dong-Yong;Hong, Dae-Hwa
    • Fire Science and Engineering
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    • v.24 no.2
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    • pp.126-132
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    • 2010
  • The Housing Performance Rating System, enacted on 9 January 2006, an active measure containing provisions on improved quality and advanced performance of the Fire-Protection System for equalized ability to secure safety of life to some extent, is a desirable policy in fire-safety regard. The study of theoretical background of each performance rating section for the purpose of active and wide application of The Fire-Protection System category of the Housing Performance Rating System currently in effect internally. In accordance with the result of the study, the reform measures for the currently detailed evaluation criteria have been suggested to improve the performance of the Fire-Protection area of The Housing Performance Rating System currently being in force based on the assumption of prior settlement of the following; upward settlement of the point distribution standards on the performance ratings of each head backed up by an institutional Government policy with overriding priority; and urgently enacted Fire-Protection related laws and regulations.