• Journal of Environmental Science International
• /
• v.27 no.8
• /
• pp.701-709
• /
• 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.

• STI Policy Review
• /
• v.7 no.2
• /
• pp.35-59
• /
• 2016

The strategic importance of innovation ecosystems has received increased attention from both the academic and policy perspectives. However, there is only limited empirical evidence on the importance of these ecosystems from the perspective of younger firms. This study focuses on the role of ecosystems for young innovative companies (YICs) and is based on a unique set of phone survey data from Finland and South Korea. The results are threefold: (1) Finnish YICs participate more actively in ecosystems than Korean YICs; (2) on average, Korean YICs report to have experienced lower ecosystem impact compared to Finnish YICs; (3) in both countries, key organizations of the ecosystems are represented on the board of directors in about one-third of the sample firms.

• Proceedings of the Korean Society of Computer Information Conference
• /
• 2022.07a
• /
• pp.357-360
• /
• 2022

우리나라는 1997년 IMF 경제위기 이후 기업의 지배구조와 관련한 상법과 증권거래법 등이 수차례에 걸쳐 개정을 통한 정비가 되었다. 기업지배구조에 대한 문제는 우리나라 경우에만 한정되는 것이 아니라 미국을 비롯한 유럽 등 많은 선진국에서 중요한 문제점으로 대두되고 있는 것이 사실이다. 특히 우리나라에서 기업지배구조와 관련하여 많은 문제가 발생되고 있는 것은 지배주주와 경영진의 기업경영에 대한 감독 등이 제대로 이루어지지 않았을 뿐만 아니라 지배주주와 기업 경영진들에게 그에 책임을 제대로 묻지 않았기 때문이다. 그리고 아직도 우리나라 대부분의 기업들에 있어서 오너 경영자의 소유주식 비중이 높은 관계로 의사결정권을 독선적으로 행사하는 등 사실상 경영의 건전성을 확보할 수 없었던 것이다. 따라서 본 연구에서는 이사회가 본연의 기능을 회복하고 바람직한 지배구조를 개선하는데 있어서 걸림돌이 되는 부분을 검토하고 그에 대한 효율적인 개선안을 제시하고자 함이 연구의 목적이다.

• The Journal of Fisheries Business Administration
• /
• v.33 no.2
• /
• pp.99-125
• /
• 2002

Fisheries cooperative requires dual characteristics in performing its original function. Economic characteristic as an business enterprise and democratic characteristic as cooperative entity need to complete its objectives and survive in the complex rapidly-changing environment. After IMF crisis, fisheries cooperative received enormous government's financial support and credit-business department is perfectly under government's control. Regional fisheries cooperative also faces business failure, therefore pure cooperative movement can't save the fisheries cooperative. Economic characteristic as an business enterprise is more emphasized than democratic characteristic as cooperative entity in recent years. The theory of corporate ownership and governance can be applied to explain the ownership and governance of fisheries cooperative because fisheries cooperative is now similar to an business enterprise. During the IMF crisis the board, the auditors and the minority shareholders in business enterprise were revealed to be powerless against the mighty influence of controlling shareholders. Unconstrained discretion exercised by those controlling shareholders not only led to the firms'insolvency, but also brought down the country's financial system. During the past few years, Korea has experienced many institutional changes regarding its corporate governance structure. The introduction of outside directors, the strengthening of minority shareholders' rights, and enhanced accounting transparency are achieved to improve the efficiency of economic system. Investors, including institutional and individual, also seem to be more aware of governance issues now. Credit-business department of fisheries cooperative is recommended to introduce the institutions same as the case of the corporate governance structure. Fisheries cooperative except economic and credit-business department requires other prescriptions because it is emphasized as democratic cooperative entity. But we should be careful to interpret the ownership and governance structure because they are products of nations, eras and organizations.

• The Korean Journal of Air & Space Law and Policy
• /
• v.32 no.1
• /
• pp.177-200
• /
• 2017

This writer have thus far reviewed the civil and criminal obligations of the directors of a parent company that sponsored financially troubled affiliates. What was discussed here applies to logistics companies in the same manner. Hanjin Shipping cannot expect its parent company, Korean Air to prop it up financially. If such financial aid is offered without any collateral, under Korean criminal law, the directors of the parent company bears the burden of civil and criminal responsibility. One way to get around this is to secure fairness in terms of the process and the content of aid. Fairness in terms of process refers to the board of directors making public all information and approving such aid. Fairness in terms of content refers to impartial transactions that block out any possibilities of the chairman of the corporate group acting in his private interest. In the case of Korean Air bailing out Hanjin, the meeting of board of directors were held five times and a thorough review was conducted on the risks involved in the loans being repaid or not. After the review, measures to guard against undesirable scenarios were established before finally deciding on bailing out Hanjin. As such, there are no issues. In terms of the fairness of content, too, there were practically no room for the majority shareholder or controlling shareholder to pocket profits at the expense of the company. This is because the continued aid offered to a financially troubled company (i.e. Hanjin Shipping) was a posing a burden to even the controlling shareholder. This writer argues that the concept of the interest of the entire corporate group needs to be recognized. That is, it must be recognized that the relationship of control and being controlled between parent company and affiliate company, or between affiliate companies serves a practical benefit to the ongoing concern and growth of the group and is therefore just. Moreover, the corporate group and its affiliates, as well as their directors and management must recognize that they have an obligation to prioritize the interests of the corporate group ahead of the interests of the company that they are directly associated with. As such, even if Korean Air offered a loan to Hanjin Shipping without collateral, the act cannot be treated as an offense to law, nor can the directors be accused of damages that they bear the responsibility of compensating under civil law.

• Journal of Korean Academy of Nursing Administration
• /
• v.7 no.3
• /
• pp.545-560
• /
• 2001

The Purpose of this study was to suggest the direction of restructuring organization of KNA. For this purpose, it was tried to identify the organization structure and effectiveness of KNA and member's need and perception on KNA, and to compare with other NNA's organization structures and major activities. To collect the data, Delphi technique and survey were done. And the various data such as the annual reports, inspection reports, the articles of KNA, ANA, JNA, and RCN and other related references were investigated as well. The subjects were consisted of 102 representatives of KNA and 520 staff nurses. The data was collected from September 20. 1999 to February 10. 2000. In conclusion, this study recommends the following actions to restructure the organization of KNA. 1) The current framework of the overall structure will be maintained. 2) Among organizations in the Headquarter, the policy-making and revenue-making functions will be strengthened. 3) The opportunities of participation of the general members in the KNA activities will bee more reinforced than as it is. 4) The way of constitution of the Representatives and the Board of Directors will be modified not to be partial in terms of representativeness. 5) More emphasis will be put in such projects as welfare improvement of members, and advocacy of members' right at work.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.981-992
• /
• 2021

This study identifies the determinants of potential failure of Islamic Peer-to-Peer (P2P) lending in Indonesia, and the mediating effect of Islamic ethics on reducing the potential for failure of Islamic P2P lending. This study uses primary data retrieved through questionnaires from the perspective of 152 stakeholders in Islamic P2P lending. Using a structural equation model (SEM), the study found that indebtedness, financing size, and governance have positive and significant relationships with the potential failure of Islamic P2P lending. This study provides evidence that the customer's internal conditions and the governance structure applied can increase the potential failure of Islamic P2P lending. Further, Islamic ethics is evidently able to partially reduce the potential failure of Islamic P2P lending by lessening risk management exposure, but it fails to address failure through Ponzi scheme exposure. As an implication, this study suggest that Islamic P2P lending must implement Islamic ethics more comprehensively by optimizing the advisory and supervisory role of the shariah board within their overall boards of directors also in their operational activities. Finally, it also adds to the existing knowledge on financial technology literature, particularly on the determinants of potential failure of financial technology from the perspective of stakeholders.

• Management & Information Systems Review
• /
• v.22
• /
• pp.61-84
• /
• 2007

This research aims to find the legal classification of non-profit corporation, to check the pattern of non-profit corporation, to examine thoroughly the present condition of non-profit corporation, and to make a good solution of the problems of non-profit corporation. The findings of this study about the present condition of non-profit corporation are as follows. First, there is an unclear understanding of non-profit corporation and an public fund, Second, a board of directors and a founder control an aim of non-profit corporation freely, Third, there is an unclear management of activity and accounts of non-profit corporation, forth, there is an vague mission of foundation, fifth, some of non-profit corporation supported social welfare project for marketing strategy. and the last non-profit corporation made an competition unnecessarily. On the basis of study result, the researcher make some suggestion for an revitalizing of non-profit corporation. First, it is very important of making a clear mission to manage the non-profit corporation. Second, there is an autonomy and neutrality of non-profit corporation. Third, we make an irrational law better, forth, we make a settled the donation culture. and the last it is necessary of make an foundation for international society.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.9
• /
• pp.401-407
• /
• 2020

Earnings management behavior is the use of accounting procedures, through accounting policies, to intentionally purposeful control in the provision of information to users. The purpose of this paper is to examine the relationship between ownership structure factors and earnings management behavior of 30 Vietnamese commercial banks. The paper uses the ordinary least square method to examine this relationship and employs time series data of 15 years from 2005 to 2019. The study also uses agency theory an asymmetric information theory. The authors examined six independent variables related to the ownership structure and these variables are typical of Vietnamese commercial banks. The results of the study show that the foreign ownership ratio is an opposite effect, while the ownership concentration variable has a positive effect on earnings management behavior of Vietnamese commercial banks. Based on that, the article proposes a number of policy suggestions for the State bank of Vietnam and Board of directors of commercial banks as well as investors to identify and to limit the earnings management behaviors of Vietnamese commercial banks. This contributes to ensuring information transparency as well as improving the quality of accounting information of Vietnamese commercial banks in the coming years.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.6
• /
• pp.73-84
• /
• 2020

The paper investigates the effect of the factors on the disclosure of sustainable development information of enterprises. The research sample includes 120 manufacturing companies listed on Vietnam stock market in 2019. This research uses ordinary least squares (OLS) to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show that five variables have a statistically significant positive effect on disclosure of sustainable development information of manufacturing companies, including firm size (SIZE), independence of board of directors (BOD), foreign ownership (FRO), return on equity (ROE), and financial leverage (LEV). The results indicate that state ownership (STO) has a statistically significant negative effect on disclosure of sustainable development information of manufacturing companies listed on Vietnam stock market. Besides, the research results also show there is a large difference in the disclosure of sustainable development information between listed companies in Vietnam, those of other emerging economies in the region, and the companies in developed markets. Therefore, this paper provides a new insight to managers and related parties on how to improve the firm's sustainability disclosure to bring benefit for the firm itself and the stakeholders by reasonable decisions about the factors that affect disclosure of sustainable development information.