• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.2
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• pp.179-196
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• 2013

This paper examines the difference in compensation structure between family firms and non-family firms in Korea. A manager's compensation is an important means of motivating a manager to make decisions for shareholders by mitigating conflicts of interest between them. However, the role of a manager's compensation can be weakened in family firms for the following reasons. First, a family member manager has fewer conflicts of interest, compared to a non-family member manager. Second, a family member manager has an intrinsic incentive to increase a firm's value (i.e., family wealth). Finally, a family member manager can monitor non-family member managers more effectively. For the reasons, the agency problem will be less severe in family firms and subsequently the role of compensation will be reduced. The empirical results show that pay-performance sensitivity is smaller in family firms than in non-family firms. The main result is robust to variations such as changes in family ownership, the definition of a family firm, and control variables. Furthermore, this paper compares the pay-performance sensitivity of Chaebol family firms with that of other firms. The result shows that the sensitivity is higher for Chaebol family firms, compared to that in other family firms and non-family firms.

• Safety and Health at Work
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• v.8 no.1
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• pp.19-28
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• 2017

Background: Conservation of resources theory assumes loss of resources as a cause of job strain. In hospital work, conflicts with supervisors are tested to predict lower resources, that is, supervisory social support, participation possibilities, and appreciation. All three resources are expected to predict, in turn, experienced stress (job strain) and lower job satisfaction, lower affective commitment, and a higher resigned attitude towards the job (job attitudes). Methods: The sample included 1,073 employees from 14 Swiss hospitals (n = 604 nurses, n = 81 physicians, n = 135 medical therapists, and n = 253 technical and administrative staff). Of the total sample, 83.1% were female and 38.9% worked full-time. The median tenure was between 7 years and 10 years. Constructs were assessed by online questionnaires. Structural equation modeling was used to test mediation. Results: Structural equation modeling confirmed the negative association of conflict with supervisors and job resources. Tests of indirect paths to resources as a link between conflicts with supervisors and job attitudes were significant. For nurses, social support, participation and appreciation showed a significant indirect path, while among medical technicians the indirect paths included social support and appreciation, and among physicians only appreciation showed a significant indirect path. In medical therapists no indirect path was significant. Job resources did not mediate the link between conflict with supervisors and stress in any occupational group. Conclusion: Conflicts with supervisors are likely to reduce job resources and in turn to lower job attitudes. Work design in hospitals should, therefore, address interpersonal working conditions and conflict management in leadership development.

• Health Policy and Management
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• v.31 no.3
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• pp.280-291
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• 2021

Background: Based on the fact that the Korea Medical Dispute Mediation and Arbitration Agency is a public institution established by social demands for medical disputes, this study reviews the publicness of public organization and discusses its policy implications. Methods: Through Moore's strategic triangle, which consists of legitimacy and support, public value and operational capacity, the process of creating public value is examined. For the analysis, case studies were conducted using related literature data from 2012, when the agency was established, to the present. Results: As a result of the analysis, first, the related law examined in the operational capability has been revised dozens of times, but the revised law has its own contradictions and limitations. The human resource system is also being improved, but there is a problem with the fairness and reliability of the arbitration process, especially due to the limitations of the appraiser system. Second, in terms of legitimacy and support, a regional gap occurred despite efforts to improve accessibility through the expansion of the organization. And the arbitration agency failed to reconcile conflicts caused by stakeholders' perception of each other as a trade-off relationship. Third, the public value result shows that, despite many explicit (statistical) achievements, citizens' use of the past dispute resolution means (litigation) has not decreased. Likewise, the perception of value makers (citizens) is important for creating public value as an invisible result, but it has not yet been formally investigated, so the performance can not be recognized. Conclusion: While the organization's efforts for continuous change and improvement are encouraging, it is not perceived as a better means of resolving disputes and improving quality of services. Therefore, it is necessary to reconsider the institutional design centered on value creators.

• The Journal of the Convergence on Culture Technology
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• v.9 no.1
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• pp.19-26
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• 2023

In this study, the public sensitivity of the 'MZ generation' was examined through the social media big data sensitivity analysis method. For the analysis, the consumer account SNS text was examined, and positive and negative emotional factors were presented by classifying external sensibilities and emotions of the MZ generation. In conclusion, the positive emotions of liking and interest in relation to the "MZ generation" were 72.1%, higher than the negative emotional ratio of 27.9%. In positive sensitivity, the older generation showed 'a favorable feeling for the individuality and dignifiedness of the MZ generation' and 'interest in the MZ generation with new values'. In contrast, the MZ generation has a favorable feeling for 'the fact that they are a generation of their own boldness, youthfulness and individuality' and 'small growthism'. Negative sensitivity outside the MZ generation was found to be 'A concern about the marriage avoidance, employment difficulties, debt investment, and resignation trends of the MZ generation', 'Hate the MZ generation who treats Kkondae' and 'Difficult to talk to the MZ generation'. On the other hand, the negative emotions felt by the MZ generation itself were 'Rejection of generalization', 'Rejection of generation and gender conflicts', 'Rejection of competition worse than the older generation', 'Relative failure of the rich era', and 'Sadness to live in a predicted climate disaster'. Therefore, the older generation should not look at the MZ generation in general, but as individuals, and should alleviate conflicts with intergenerational understanding and empathy. there is a need for community consideration to solve generational conflicts, gender conflicts, and environmental problems.

• Korean Journal of Culture and Social Issue
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• v.29 no.4
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• pp.617-636
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• 2023

The goal of this study was to explain the phenomenon of making efforts to overcome the need-reality collision as a cultural characteristic of Koreans. Specifically, we examined whether the behavior varies depending on the degree of relational agency in the situation where conflicts between one's needs and reality have occurred. To this end, a total of 217 participants participated in the online experiment, and the data of 156 participants were finally analyzed. After responding to the relational agency scale, the participants were exposed to a decision-making scenario in which conflicting factors existed. The scenario were about buying a house and making a wedding hall contract, and in each scenario, two important values were set to conflict with each other in the market. Participants read the scenario and entered the level they wanted for each value. After that, they encounter a situation in which he or she has not found the candidate site corresponding to the level he or she wants. Then, the participants responded to their willingness to make additional efforts themselves. As a result of the study, the degree of relational agency of the participants showed a positive relationship with the degree of additional effort. In addition, the degree of the desired level beyond the reality (expectancy discrepancy) showed a nonlinear (reverse U-shape) influence on the additional effort while controlling for individual difference. Furthermore, the interaction effect between relational agency and expectancy discrepancy was significant. Specifically, individuals with low agency did not have a significant relationship between the degree of expectancy discrepancy and the dependent variable, but individuals with high relational agency had a significant non-linear relationship between the degree of expectancy discrepancy and the dependent variable. Based on the results of the study, the role and function of Koreans' psychological characteristics (relational agency) in the scene of managing needs-reality collision were discussed.

• Journal of Contemporary Eastern Asia
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• v.18 no.2
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• pp.118-141
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• 2019

In South Korea, as awareness of gender equality increased since the 1990s, policies for gender equality and social awareness of equality have been established. Until recently, however, the gap between men and women in social and economic activities has not reached the globally desired level and led to social conflict throughout the country. In this study, we analyze the content of online news comments to understand the public perception of gender equality and the details of gender conflict and to grasp the emergence and diffusion process of emerging issues on gender equality. We collected text data from the online news that included the word 'gender equality' posted from January 2012 to June 2017 and also collected comments on each selected news item. Through text mining and the temporal semantic network analysis, we tracked the changes in discourse on gender equality and conflict. Results revealed that gender conflicts are increasing in the online media, and the focus of conflict is shifting from 'position and role inequality' to 'opportunity inequality'.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.317-328
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• 2021

This study aims to determine the factors that affect dividends initiation by initial public offering firms in Malaysia. The ownership structure is examined from a corporate governance theoretical perspective in order to evaluate the impacts of managerial, institutional, and family ownership on the dividend's initiation decision of IPO firms. This study employs a quantitative pooled cross-section of 372 Malaysian IPO companies active during the period of 2002-2013. The number of firms that went public each year varies, thus the pooled cross-section data takes place in this case rather than the panel data. The logistic model was employed to test the proposed hypotheses. The results revealed that the presence of institutional investors in the ownership structure make it more likely for IPO firms to initiate dividends. On the contrary, the presence of a family ownership structure in IPO companies as the controlling shareholder makes these companies less probable to initiate dividends. Managerial ownership was found to have no effect on the decision of initiating dividends by IPO firms. The findings of this study suggest that the existence of institutional and family ownerships are agency cost mitigators, as these ownership types could prompt IPOs firms to initiate dividends to overcome the agency conflicts.

• Journal of Distribution Science
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• v.14 no.5
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• pp.27-37
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• 2016

Purpose - Prior theories expect a lower marginal value of cash for weak governance firms. To test this hypothesis, we examine the relationship between corporate governance structures and marginal cash values in Korean retail firms. Research design, data, and methodology - We estimate marginal cash values based on the model of Faulkender & Wang (2006). The retail firms listed in Korean Stock Exchange from 2005 to 2013 are analyzed. Corporate governance scores are provided by Korean Corporate Governance Services. Results - We show a higher marginal value of cash for the weak governance retail firms in terms of total governance score. Our analysis on a detailed set of governance scores generally confirms this tendency. Yet, a higher marginal cash value is obtained for the firms with better board structures and dividend policies. Conclusions - Our findings argue against the agency view of cash policy predicting a negative relationship between corporate governance scores and marginal cash values. A low marginal value of cash, widely observed in the sample firms, also supports severe resource diversion problem in Korean corporations.

• The Journal of Fisheries Business Administration
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• v.50 no.4
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• pp.45-57
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• 2019

Effective implementation of private subsidy projects requires comprehensive expertise in the aquaculture and construction sectors to be provided to private subsidy operators, local government officials and others involved in budget execution and settlement. Due to the strengthening of laws and systems related to the execution of state subsidies since 2015, the efficient implementation of private-sector grant projects has been difficult for delays in projects, cancellations, and conflicts with local governments from lack of prior awareness and understanding of related regulations. It is expected that the government will be able to activate the project by analyzing the current status and problems of each phase of project implementation for improving quality internalization of the project effects, as well as quantitative growth of the private sector subsidy project for environmentally friendly aquaculture development projects.

• Journal of the Korea Safety Management & Science
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• v.16 no.2
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• pp.193-201
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• 2014

This paper reviewed the effects of job characteristics(role conflicts, emotional labor, job importance and job autonomy) on satisfaction and stress, and the moderating effect of social support. Based on 2,982 questionnaires among raw data of Korea Safety and Health Agency's national survey, the results of multiple regression analysis appeared as follow; 1) role conflict effect negatively on job satisfaction, and emotional labor, job importance and job autonomy effect positively on job satisfaction. 2) role conflict effect positively on stress, and emotional labor, job importance and job autonomy effect negatively on stress. 3) social support moderates positively 2 relationships-between role conflict and job satisfaction, between job autonomy and job satisfaction, but moderates negatively between job autonomy and stress.