• The Journal of Asian Finance, Economics and Business
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• 제7권1호
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• pp.167-181
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• 2020

The relationship between corporate board attributes and dividend payout is already established yet mediating role of leverage in not been examined in Malaysian market. Therefore, this study aims to examine the mediating effect of financial leverage on the relationship between corporate board attributes and the dividend pay-out policy. A sample of 203 non-financial firms listed on the BURSA Malaysia between 2005 and 2018 were analysed using SmartPLS 3.0. The findings show that there is a partial mediating effect of financial leverage on the relationship between board members age, board diversity and dividend pay-out policy. Financial leverage also mediates the relationship between number of women on board, CEO-duality and dividend pay-out policy. However, financial leverage doesn't mediate the relationship between board size and dividend pay-out policy. This study offers insights to policy-makers to develop a better corporate governance as well as a guidance to firms in the construction and implementation of their corporate governance policies in relation to financial leverage. This study also shed light on the influence of efficient corporate board attributes on dividend pay-out policy and financial leverage for firm growth. This study concludes that corporate board attributes impact capital structure and thus, firms may change its payout policy.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.317-328
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• 2020

The board of directors play an important role in corporate climate strategy-making and decisions but might also compromise environmental policies to minimize agency cost. This study critically investigates the relationship between the attributes of the board of directors and the degree of sustainability performance for the energy sector as discussed in the literature. Our study cumulates existing knowledge offering important characteristics for a balanced board structure to increase the board's effectiveness in adopting sustainable initiatives that could reduce the adverse impact of an energy corporation's operation on the environment. Crucial attributes of the board of directors deemed to be positively associated with the commitment to reduce carbon footprint in the environment have been identified. Based on our extensive analysis of the literature we propose a conceptual framework that measures the influence of the board of directors' attributes on corporate environmental and social sustainability performance. The proposed framework will be useful as an initial step for top management and regulators to gain a better understanding of the balanced board structure required to achieve the social and environmental sustainability performance of corporations. Further, this paper contributes to a body of knowledge about how the board of directors could play a crucial role in monitoring social and environmental threats.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.241-250
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• 2020

This study examines the relationship between the attributes of board structure and the likelihood of financial distress for the non-financial sector of an emerging market characterized by concentrated ownership and family-controlled business. The present study utilized panel logistic regression to estimate the relationship between board structure attributes and the likelihood of financial distress. We used Altman Z-Score as a proxy for firm financial distress, as this tool measures the financial distress inversely. The study finds a significant relationship between board size and the likelihood of financial distress. The results show that a one-unit increase in board size would decrease the probability of financial distress by 3.4%. Further, we observe that a greater level of board independence is associated with a lower likelihood of financial distress. A one-unit increase in board independence would decrease the probability of financial distress by 20.4%. We also find a significant positive impact of leverage on the likelihood of financial distress. The present study contributes to the body of literature on board structure attributes and likelihood of financial distress in emerging markets, like Pakistan. Furthermore, the findings would be beneficial for corporate policymakers and investors in formulating corporate financial strategy and predicting business failure.

• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.135-147
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• 2022

This study was conducted to determine whether there is a significant relationship between board structure and board committee qualities and corporate cash holdings in Pakistan. For this objective, 168 listed enterprises on the PSX for the period 2016 to 2020 were chosen as a sample from a population of 436 non-financial firms. Multiple regression analysis was used in the study to discover a relationship between board structure and board committee features and cash holdings. The study's findings revealed that board size, executive directors, and board independence have no significant impact on the firm's cash holding because they play no important part in the firm's cash holding. Auditors, audit committee size, audit committee meetings, and the compensation committee, on the other hand, have no major impact on the firm's cash holdings because they are not relevant indicators to compare with cash holdings. While board meeting frequency and leadership structure both have a negative influence on cash holding, board meeting frequency increases firm costs, whereas leadership structure causes agency problems. Results were supported by the pecking order theory, cash flow theory, and agency theory.

• 기술혁신학회지
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• 제8권1호
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• pp.135-153
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• 2005

With an explosive growth of internet and a change of consumer's demand, Post PC is emerging as a substitute for the existing desktop computer and laptop computer. Post PC is a new computer which is portable with wireless networking, cheaper than the existing PCs and specialized in the specific function that consumers want. Furthermore, the shape and the ability of Post PC are dependent on its specific function. The rudimentary Post PCs such as PDA, web-pad and smart-phone are already usable. And in the future, owing to the progress of technologies, the heterogeneity of relate companies and the low entry barrier, various Post PCs will be developed. In this paper, we analyze consumers' willingness-to-pay for Post PC with the attributes such as the portability, the speed of CPU, the data input method (using key board, or notepad etc), the size of monitor and price. To estimating consumers' willingness-to-pay for the attributes of Post PC, we apply a contingent ranking method, which makes the respondents rank hypothetical Post the portability, the speed of CPU, the data input method (using key board, or notepad etc),the size of monitor and price. To estimating consumers' willingness-to-pay for the attributes of Post PC, we apply a contingent ranking method, which makes the respondents rank hypothetical Post PC alternatives featuring various combinations of attributes, to a survey data collected in Korea. Using the estimated willingness-to-pay, we predict the shape and the ability of future's Post PC and draw policy implications for the national and company level R&D strategies.

• 만화애니메이션 연구
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• 통권13호
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• pp.115-131
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• 2008

본 연구는 관객이 극장용 애니메이션을 관람하고 평가하는 과정에서 어떠한 요인들이 영향을 끼치는지 분석하였다. 연구대상은 관람 후 네티즌 평점 리뷰 게시판의 평점과 언급된 평가 내용들을 중심으로 하였고, 소비형태의 평가를 측정하기 위해 선행연구를 기초로 실용적 속성과 감성적 속성으로 분류하였다. 연구결과, 실용적 속성에서는 스토리, 캐릭터, 연출, 배경미술, 배경음악 성우더빙, 특수효과 제작사 등이 평가변인들로 나타났고, 감성적 속성에서는 재미 감동, 만족, 매력, 환상, 긴장 등의 평가변인들이 나타났다. 특히 두 속성간의 변인들은 개별적으로 유의미한 정적 상관관계를 보였으며, 두 속성간의 관계가 관람 후 애니메이션 평가에 영향을 끼치는 것으로 예측되었다. 결론적으로, 애니메이션 관객은 구체적인 실용적 속성들에 대한 감성적 경험을 매개과정으로 작품 전체를 평가한다는 해석이 가능하다.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.943-952
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• 2021

The purpose of this study is to evaluate the effect of COVID-19 on corporate governance attributes and firm performance association. This research used a sample of 188 non-financial firms from the Malaysian market for the years 2019-2020. We found that the COVID-19 has affected all firm characteristics including firm performance, governance structure, dividend, liquidity, and leverage level, yet, the difference between prior and post COVID-19 pandemic is not significant. Also, the investigation revealed that board size exerts a significant positive impact on firm performance. After splitting the sample based on year, however, we found that board size does not matter in the uncertain time of the current crisis, while board diversity appeared to be significantly enhancing firm performance in the crisis time compared to the prior year where it has an inverse association with firm performance in both indicators. Board meetings and audit committee meetings seemed to have a significant negative influence on firm performance pre and post-COVID-19. This study contributes to the limited literature by providing the first empirical evidence on the impact of Coronavirus on the firm performance and corporate governance association.

• 한국문헌정보학회지
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• 제44권4호
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• pp.33-59
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• 2010

Library 2.0 advocates a socially rich, multimedia enabled, user originated and communally innovative environment that poses significant opportunities for the libraries to evolve and make themselves even more relevant and significant for her users. This paper presents a case study of the National Library Board of Singapore, in playing a vital role to facilitate the realisation of a long-term key national program, The Singapore Memory (SM) Project. SM embraces the attributes of the Library 2.0 environment to enable the nation's memory to be collected, organised, preserved, discovered, researched, augmented and created. The output of is an evolving collection of knowledge assets on Singapore along a Singapore Memory Content Continuum of existing content that is steadily augmented with new content. The content will be collected across all formats, in any language, from Singaporeans and non-Singaporeans, from any institution and agency, from Singapore and abroad, and from official and unofficial sources. The utopian scenario of SM Project is that any person, community, group or institution who has ever experienced Singapore in any way or has any material on Singapore will engage actively in the contribution, discovery and creation of content for the project, and thus become advocates to further encourage and catalyse more contribution, discovery and creation. The paper outlines the key approaches, concepts and ideas for the project. An important element is the proliferation, exposure and accessibility of the rich contents envisaged in the project. The SM proliferation plan along with examples of how two existing resources, namely, the Singapore Infopedia, a database of articles on Singapore's history, culture, people and events 4 and NewspaperSG, an online resource of current and historic Singapore and Malayan newspapers, have been designed are presented to demonstrate how content can be exposed, searched and discovered.

• 디지털융복합연구
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• 제14권12호
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• pp.27-33
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• 2016

융복합적 개인 창작물의 합법적인 유통을 활성화 시키고자 특정포맷과 양식이 있는 가칭 '스마트 보드'라는 유통플랫폼에 대한 소비자들의 수용 여부가 어떠한지 통계적 모델링을 통해 분석해보고자 한다. '스마트보드'란 개인이 만든 융복합적 디지털 창작물을 쉽게 업로드하거나 또는 업로드 된 콘텐츠를 사용자의 사용목적에 따라 다양하게 라이선스를 부여함으로써 필요로 하는 사람들 간에 합법적 인 유 무료 거래를 할 수 있게 하는 유통플랫폼을 말한다. 이러한 유통플랫폼의 전제하에 일반 디지털 콘텐츠 사용자를 대상으로 정량 설문조사를 실시하였으며 설문결과를 바탕으로 '스마트보드' 사용의사 여부에 어떤 요인들, 즉 이용자의 프로화일 속성, 콘텐츠 사용행태, 창작활동 경험여부, 라이선스에 대한 인식, 태도 등 이 얼마나 영향을 주는지를 로지스틱 회귀모형을 통해 검증해보고자 한다. 그리고 그 결과로부터 향후로도 계속 늘어날 개인 창작자들(웹툰작가, 사진작가, 작가, 아티스트 등등)의 저작권 보호와 사용자의 이용 편이성을 반영한 라이선스 다양화 유통플랫폼 개발의 필요성을 강조하고자 한다.

• Journal of Dairy Science and Biotechnology
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• 제29권2호
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• pp.25-35
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• 2011

우유 열처리 유형별로 저온살균유(LTLTT), 고온살균유(HTST), UHT 살균유 및 UHT-ESL 우유 등 총 124팩의 우유제품을 $7^{\circ}C$와 $10^{\circ}C$의 온도에서 유통기한 경과 전과 후까지 훈련된 8명의 패널요원을 동원하여 묘사적 관능분석법에 의하여 관능적 특성을 평가하였다. 그 결과, 묘사적 용어로서 향/냄새 특성 3개(비린향, 우유향, 발효유향), 기본 맛 특성 3개(단맛, 짠맛, 신맛), 향미 특성 4개(우유향, 고소한 향, 치즈향, 종이향), 뒷맛 특성 1개(산패취), 입안 감촉특성 1개(점도) 등 총 12개의 관능적 용어가 도출되었다. 우유의 보존온도를 각각 $7^{\circ}C$와 $10^{\circ}C$로 달리하여 저장한 후 관능특성을 통계적으로 비교한 결과, LTLT 우유는 $7^{\circ}C$에서 발효향, 짠맛, 신맛, 치즈향, 산패취 등 5개 특성 값이 $10^{\circ}C$ 보다 낮게 나타났으며, 그 차이는 높은 유의성(P<0.01)이 있었다. HTST 우유는 비린향과 우유향은 $7^{\circ}C$에서 더 높은 값을 보여주었고, 발효향과 짠맛은 더 낮은 값을 보여 서로 상반되는 결과였지만, 비린향, 우유향 및 짠맛의 차이는 높은 유의성(P<0.01), 발효유향은 P<0.05 수준에서 유의성을 보였다. UHT 우유는 단맛, 우유향, 치즈향 등의 관능특질이 $10^{\circ}C$ 보존온도보다 높게 나타났으며(P<0.01), 그 수준은 타 유형의 열처리 우유보다 높은 값이었다. UHT-ESL 우유는 $7^{\circ}C$에서 신맛, 치즈향, 종이향, 산패취 등(P<0.01)과 우유향(P<0.05)이 저온으로 열처리 한 우유나 UHT 우유와도 같은 수준으로 나타났고, $10^{\circ}C$에서는 이와 같은 관능특질들이 매우 미약한 상태를 유지하였다. 이와 같은 결과로 판단해 볼 때 열처리 온도가 상대적으로 낮은 살균유인 LTLT 우유나 HTST 우유는 물론 UHT 처리 우유제품도 유통기간 중 미생물학적 안전성외에 관능적 특성들이 더욱 신선하게 유지될 수 있도록 현행 유통기준 온도를 $7^{\circ}C$ 이하로 낮추어야 할 필요성이 대두되었다.