• International Journal of Internet, Broadcasting and Communication
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• 제14권3호
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• pp.270-275
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• 2022

Examining whether the relationship between proprietary information cost and management's disclosure decision is also valid for domestic companies is expected to provide meaningful implications for investors and regulatory authorities. However, there are no domestic studies related to proprietary information costs so far. This study examines whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. This study used the measurement quality of disclosure to examine whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. As a result of empirical analysis, it was confirmed that there is a negative relationship between proprietary information cost and the quality of disclosure. This suggests that management tends to make disclosure decisions in consideration of not only the benefits of disclosure but also proprietary information costs resulting from disclosure in order to maximize corporate value. These findings are expected to have significant implications for investors and related policy authorities.

• 한국비블리아학회지
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• 제19권1호
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• pp.203-220
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• 2008

좋은 정부가 되기 위해선 국민들이 현실을 제대로 이해할 수 있도록 정확한 정보를 공급하고 국민과 함께 정보를 공유해야 한다. 이를 위해 정부는 정보공개를 활성화하고 국민의 알권리 충족을 도모함으로서 정부와 국민간의 정보의 비대칭을 통한 편향적 관계를 개선하고, 정보공개제도의 활성화로 행정의 투명성을 제고하는 굿 거버넌스를 실천해야 한다. 이 글은 정보공개의 굿 거버넌스 사례를 소개하고 제도적 의미를 고찰한다.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.281-288
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• 2019

This study examines the relationship between R&D intensity and disclosure. R&D activities are essential in bringing innovation to companies. However, R&D activities are naturally uncertain and increase information asymmetry. Thus, firms with high R&D activities are more likely to have the incentive to communicate the potential of R&D investment to the market through voluntary disclosure and, concurrently, resolve information asymmetry. Meanwhile, incentives to less voluntary disclosure exist because of the proprietary cost and the risk of competitiveness loss. Furthermore, the uncertainties inherent in R&D activities caused the possible decrease in the information accuracy. For the two opposing views, this study investigates the relationship between R&D intensity and disclosure frequency using the Regulation Fair Disclosure data in Korea. Moreover, the relationship between R&D intensity and usefulness of the information disclosed is also examined. Using firm sample listed in the 2011-2016 Korea Stock Market, results show that firms with high R&D intensity make disclosures more frequent. Subsequently, the analysis using forecast sample shows that management forecast error is higher in firms with high R&D intensity. This research contributes to the existing literature by presenting evidence that R&D intensity is a significant factor affecting manager's disclosure behavior and information usefulness.

• 한국환경과학회지
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• 제27권8호
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• pp.701-709
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• 2018

Few prior studies investigated the correlation between corporate ownership structure and environmental information disclosure. Using environmental index disclosure in GRI (Global Reporting Initiative) reports of the Korean companies, the study examines the effects of ownership structure on the magnitude of environmental information disclosure. A total of 220 firm-years during 2013-2016 period are analyzed. The empirical results of the study indicate that the institutional and foreign investors' ownership have positive correlations with environmental information disclosure, while the executives' within board of directors has a negative correlation. The ownership by largest shareholders including those with special interests shows no significant relationship with the environmental information disclosure.

• International Journal of Internet, Broadcasting and Communication
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• 제13권2호
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• pp.20-26
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• 2021

Considering the role of a financial analyst that directly affects investors as an information mediator, management's decision to disclose to maximize corporate value will have an important impact on investors as well. On the other hand, whether or not managers vary the level of disclosure depending on the corporate form will have great implications for policy authorities. However, there is no domestic research on the relationship between the corporate form and the quality of voluntary disclosure. Our study shows that the corporate form tends to deepen the negative relationship between the proprietary information cost and the quality of disclosure. Examining whether the relationship between proprietary information cost and management disclosure decision making is valid for domestic companies is expected to provide meaningful implications for investors and regulators. Depending on the corporate form, if an entity makes a discriminatory disclosure, the cost of capital will be affected. A more in-depth follow-up study on this should be done.

• 기록학연구
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• 제5호
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• pp.111-148
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• 2002

Digitalization of public administration information shall be accelerated more. When information exists both in the form of electronic and paper record, even the disclosure of paper record make it possible the access to public administration information itself, but there may some needs for the disclosure of electronic record in applicant's situation. Similarly, when only electronic record exists, there may be some problem about whether to disclose the record as print-out or as being electronic format itself. Thus, the method and format of disclose are very sensitive issues, and it is very important to clarify who has the competence to decide the method and format of disclosure, applicant or the public agency. In making any record available to an applicant under the EFOIA in America, the public agency shall provide the record in any form or format requested by the applicant, if the record is readily reproducible by the agency in that form or format. And for the convenience of the applicant with sensory disability, the AIA in Canada also permits the right to access to information in an alternative format. It is desirable also in our country that disclosure of information is done by public agencies in the format that applicant wants, as possible. In the meantime, we should consider the costs and technological restrictions corresponding to the change of format of information to the format that applicant specifies. In the case of electronic record, efforts required for searching cause some hard problems. Information disclosure system requires disclosure of record that exists at the demand point, and creation of new record that does not exist at that them is not required on the public agency. For the search of electronic information, we need some code or program. So, if we evaluate that act of coding or programming as creation of new record, demand on disclosure of electronic record becomes impossible, in fact. Therefore, when we include electronic record as the object of information disclosure system, we need to clarify the degree of reasonable efforts for searching the information included in that record, as long as possible, although it is very difficult problem. Also, we should consider the way to make it permitted to demand the disclosure of electronic record by FAX or E-mail. Disclosure of electronic record itself by E-mail is not generalized yet, even in America or Canada. There are many technological and legal problems to solve, before permitting or enforcing the disclosure of electronic record by E-mail. But, it is desirable to expand the method of disclosure to including disclosure by E-mail in possible spheres. Also, as well as disclosure on demands, we need to expand electronic access to information, so far as possible, in the process of information offer.

• International Journal of Internet, Broadcasting and Communication
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• 제11권3호
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• pp.41-48
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• 2019

The Management Discussion and Analysis(MD&A) provides investors with an opportunity to gain insight into the company from a manager's perspective and enables short-term and long-term analysis of the business. And MD&A is an important channel through which companies and investors can communicate, providing a useful source of information for analyzing financialstatements. MD&A is measured by the quality of disclosure and there are many previous studies on the usefulness of disclosure information. Therefore, it is very important for the financial analyst who is the representative information user group in the capital market that MD&A Disclosure Quality is measured in real-time in combination with IT information technology and provided timely to financial analyst. In this study, we propose a method that real-time data is converted to digitalized data by combining MD&A disclosure with IT information technology and provided to financial analyst's information environment in real-time. The real-time information provided by MD&A can help the financial analysts' activities and reduce information asymmetry.

• International journal of advanced smart convergence
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• 제7권2호
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• pp.86-94
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• 2018

This study focuses on presenting the IT program module provided by real - time forecasting and database of the voluntary disclosure quality measure in order to solve the problem of capital cost due to information asymmetry of external investors and corporate executives. This study suggests a model of the algorithm that the quality of real - time voluntary disclosure can be provided to all investors immediately by IT program in order to deliver the meaningful value in the domestic capital market. This is a method of generating and analyzing real-time or non-real-time prediction models by transferring the predicted estimates delivered to the Big Data Log Analysis System through the statistical DB to the statistical forecasting engine.

• 한국도서관정보학회지
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• 제40권4호
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• pp.327-351
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• 2009

본 연구에서는 2008년 대학정보공시 대상 총 414개교 중 학교의 홈페이지를 가지고 있는 413개교를 대상으로 정보공개제도 및 대학정보공시제의 운영실태를 조사 분석하였다. 대학도서관의 정보공개제도 활성화를 위하여 '대학도서관용' 한국 도서관 통계 항목과 전국 도서관 운영평가 지표를 자율적인 정보공개 표준으로 활용하고, 국가도서관통계시스템의 효율적 활용방안을 제안하였다. 대학정보공시제의 효율화를 위하여 도서관 지원 현황에 대한 공시항목 및 범위는 대학도서관 재정 확보와 개선도에 초점을 두고 공시될 수 있도록 장서보유 현황과 도서관 예산 현황에 대한 개선방안을 각각 제안하였다. 대학도서관은 대학과 사회적 정책적 관심도를 높이기 위하여 정보공개제도와 대학정보공시제를 주요 수단으로 활용할 필요가 있다.

• 아태비즈니스연구
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• 제10권4호
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• pp.1-30
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• 2019

The involuntary delisting of public companies has a detrimental effect on economies caused by the loss of stock value and confidence in the capital market. Previous studies have focused on prediction or prevention models for firm delisting events using various financial and accounting information. However, the timely disclosure of companies, another important indicator, has not been investigated before in connection with companies that have been delisted. To address this gap, this study investigates the timely disclosure behavior of companies prior to delisting using sample firms listed on the Korean stock market between 2000 and 2014. The results show a significant correlation between the frequency of timely disclosure and delisted firms prior to their delisting on the Korean stock market. The delisted companies appear to increase their timely disclosure to deliver specific information to the public. Furthermore, these companies are likely to increase the frequency of timely disclosure as they get closer to their delisting. Notably, the timely disclosure of delisted firms has a capital market effect; namely, timely disclosure increases trading volume while decreasing the market value of the shares, reflecting price efficiency. This study appears to be the first that considers timely disclosure in the involuntary delisting literature.