• The Journal of Asian Finance, Economics and Business
• /
• 제7권11호
• /
• pp.699-705
• /
• 2020

This study aims to examine the antecedent factors of debt policy on the influence of firm growth on firm value. There was a total of 19 companies involved accounting for 95 observational data from a population of 169 companies listed on the Kompas 100 Index of the Indonesia Stock Exchange from 2014 to 2018. The data were analyzed through descriptive statistics, classic assumption tests, multiple regression, and hypothesis testing. The results prove that the firm growth, proxied by asset growth or sales growth, did not have a significant influence on the debt policy. Further, there was no significant influence of debt policy on firm value when using debt ratio and also dividend policy as a control variable. In contrast, there was a positive and significant influence on the firm value when using debt to equity ratio proxy, both with or without using the control variable. Therefore, the debt policy was not proven as an antecedent on the influence of firm growth on firm value. This finding implies that there was a tendency for the company management to adopt the policy, which would increase the debt ratio to increase the investors' confidence in the stock market and investors neglect the company's dividend policy.

• 한국IT서비스학회지
• /
• 제15권1호
• /
• pp.97-111
• /
• 2016

In the creative economy paradigm, motivation of the opportunity based startup is a continuous concern to policy-makers. Recently, bigdata anlalytics challenge traditional methods by providing efficient ways to identify social trend and hidden issues in the public sector. In this study the authors introduce a case study using social bigdata analytics for conducting policy analysis. A semantic network analysis was employed using textual data from social media including online news, blog, and private bulletin board which create buzz on the startup business. Results indicates that each media has been forming different discourses regarding government's policy on the startup business. Furthermore, semantic network structures from private bulletin board reveal unexpected social burden that hiders opening a startup, which has not been found in the traditional survey nor experts interview. Based on these results, the authors found the feasibility of using social bigdata analysis for policy-making. Methodological and practical implications are discussed.

• The Journal of Asian Finance, Economics and Business
• /
• 제7권10호
• /
• pp.1-8
• /
• 2020

The objective of the study is to investigate the effect of growth opportunities on capital structure and dividend policy in Indonesia. The study employs panel data of companies listed on Indonesia Stock Exchange that distribute dividends from 2007 to 2017. Fixed and random effect regression models are used. Findings based on growth opportunities on capital structure and dividend policy in Indonesia are in line with the existing theory (i.e., contracting theory). Growth opportunities have a significant negative correlation with debt ratio and dividend yield, which suggests that firms with high growth opportunities are discouraged to generate debt to resolve underinvestment and asset-substitution problem. Firms with more investment opportunities tend to adopt a low dividend payout policy because the cash flows will be used up for investment. The positive impact of firm size on leverage is due to the low bankruptcy risk and cost of a large company. Profitability has a positive impact on the dividend policy because profitable companies can reserve larger free cash flows and, thus, pay higher dividends. The positive influence of ownership on leverage is interpreted by the unwillingness of majority stockholders to commit to equity financing in order to avoid reducing the ownership and preserve control of the company.

• Asian Journal of Innovation and Policy
• /
• 제5권1호
• /
• pp.1-18
• /
• 2016

Catch-up is a well-known and familiar terminology for innovation scholars in developing countries such as Taiwan, Korea and China. The strategy, however, is too difficult to perform in each industry. This study looks into a catch-up strategy that Apple and Xiaomi used and examines the results on the creative imitation of business model in the smartphone industry. It is quite surprising that even Apple is based on catch-up strategy. They wanted to catch-up Nokia. Our case study shows that these two companies quickly caught up with the leaders, and the common feature of their strategy is characterized as creative imitation of business model. Creative imitation of business model is different from creative imitation of innovation. Furthermore, this research confirms that the creative imitation of business model leads to aggressive creative innovation.

• 한국정보시스템학회지:정보시스템연구
• /
• 제22권4호
• /
• pp.49-69
• /
• 2013

Recently, enterprises have reinforced security control in order to prevent infringement of personal information and abuse of customer information by insiders. However, the reinforcement of security control by enterprises makes it difficult for internal users to perform business by using a business information system. There is, therefore, a need for research on various fields, which makes it possible to establish an appropriate security control policy while minimizing an impact on business. The present research verifies and analyzes an impact on difficulty in business of internal users using customer information, which is caused by security control performed by display restriction on customer information identifiers. The present research is intended to academically develop a technique for statistically analyzing an impact degree and a causal relationship between security control and an impact on business, which is a dichotomous variable, and to practically contribute to the establishment of an efficient security policy in consideration of an impact on business when an enterprise applies security control. A research target was internal business information systems of domestic securities enterprises, data was collected by questionnaire, and verification/analysis was performed by logistic regression analysis.

• 정보화정책
• /
• 제30권1호
• /
• pp.3-22
• /
• 2023

이 리뷰논문에서는 디지털경제 시대의 플랫폼 기업과 플랫폼 비즈니스의 유형, 속성에 대해 알아보고 정부규제의 정책수단과의 정합성에 대해 현황, 쟁점, 전망을 정리하였다. 디지털경제의 등장과 더불어 플랫폼 기업들의 파급력, 규제 및 갈등 관련 이슈, 신산업과 구산업의 갈등, 플랫폼 노동문제 등의 쟁점이 논의되었다. 우리나라 정부의 민간플랫폼 자율기구 발족·운영지원, 범부처 플랫폼 정책협의체 운영, 자율규제 근거 법제화 추진 등의 노력이 진행되는 현황도 확인하였다. 책임소재에 대한 갈등의 감지된 편익과 비용이 분산된 사례는 명확한 행위자가 보이지 않아 사회 전체적으로는 혼동이 가중될 것이며, 둘 다 집중된 경우는 반대로 명확한 행위자끼리의 갈등이 가중될 것이라는 예상을 제시하였다. 그리고 혼돈과 갈등의 해소를 위해서는 이해관계자를 적극 참여시키는 형식을 도입하는 규제 거버넌스 개선과 갈등관리 역량 강화를 제시하는 기존 연구들을 종합·정리하였다.

• 수산경영론집
• /
• 제46권3호
• /
• pp.73-82
• /
• 2015

This study aimed to evaluate the effectiveness of closed season policy using an integer linear programming, targeting the large purse seine fishery in Korea. In the analysis, based on Cheng and Townsend(1993), fishing effort (fishing days by month) was assumed to be distributed for profit maximization of vessels and catch of immature fish was estimated. The analytical results showed that the effects of closed season policy would vary in accordance with the monthly closures in terms of fishing profits and catch of immature fish. A closed season policy by month had different effects on fishing profits and catch of immature fish by species. It implies the importance of considering seasonal changes of fish species when limiting fishing efforts with the closed season policy.

• The Journal of Asian Finance, Economics and Business
• /
• 제9권9호
• /
• pp.39-47
• /
• 2022

This study explored the effectiveness of the measures taken by the Jordanian Central Bank embedded in its monetary policy in encouraging banks to support investment. It aimed to explore the impact of this monetary policy on supporting credit-related decisions and the monetary policies that aim to support investment in Jordan. The targeted tools of the monetary policy are: (Overnight Deposit Window Rate, money supply, and exports). The researchers carried out an analysis to measure the effectiveness of the monetary policy in fostering investment in Jordan during the period 1992-2020. They carried out the time series analysis. They explored the stationarity of the time series. They used the ARDL model. It was found that the Overnight Deposit Window Rate has a negative significant effect on the gross fixed capital formation. It was found that the money supply has a positive insignificant effect on gross fixed capital formation. The researcher recommends using Overnight Deposit Window Rate in a manner that is consistent with the intended investment-related goals.

• 한국전자거래학회지
• /
• 제18권1호
• /
• pp.57-70
• /
• 2013

다양한 중소기업 ICT 지원 사업들은 우리나라 산업전반의 체질 강화와 국가경쟁력 향상을 위해 매우 큰 의의와 성과를 보여 왔다. 그러나 중소기업간 및 지역 간 ICT 격차는 여전히 해소되지 못하고 있으며, ICT를 통한 양적성과에 비하여 내실화, 체질 개선, 경쟁력 강화 등의 질적 효과 또한 뚜렷한 성과를 나타내지 못하고 있는 실정이다. 따라서 본 논문에서는 중소기업 ICT 지원 사업에 대한 문제점과 요구사항을 수요자 측면의 정성적 조사연구(Qualitative Study)를 통해 중소기업의 ICT 전략의 방향과 목표를 설정하고, 새로운 중소기업 ICT 정책수립을 위한 기초자료를 구축하고자 한다.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권12호
• /
• pp.159-167
• /
• 2021

The objective of this study is to examine the effect of family ownership and family CEO on the dividend policy of family firms by using the demographic characteristics of the CEO as a moderator. Dividend policy is a decision taken by the firm in determining whether the profits earned by the firm will be distributed to shareholders in the form of dividends or will be reinvested in the company as retained earnings for future internal resources. Using samples from non-financial family firms listed on the Indonesian Stock Exchange in 2013-2017, 93 firms were selected based on adequate data. We also used logit regressions to provide robustness. The results show that family ownership and family CEO have a positive effect on the dividend payout ratio. This finding supports the family income hypothesis. Among CEO demographic characters, CEO age significantly strengthens the positive effect of family CEO on dividend payout ratio. While CEO tenure does not significantly strengthen the positive effect of family CEOs on dividend payout ratios. Meanwhile, leverage, ROA, and firm size significantly affect the dividend payout ratio, but firm age does not significantly affect the dividend payout ratio.