• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.291-301
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• 2020

This paper aims to investigate the impact of chief executive officer's (CEO) attributes on firms' performance. Specifically, it examines the influence of CEOs' education, professional experience, and tenure on Saudi firms' performance. We look at a sample of 120 listed firms on Tadawul stock exchange from 2014 to 2017. Data on financial and accounting variables are obtained from the annual reports of the selected companies. We follow the existing empirical literature and use a panel model and formulate three different equations using the GMM estimator. Findings prove that CEO educational background does matter. In particular, companies employing CEOs with business administration, economics, finance, or accounting degree will perform outstandingly better. Similarly, stock performance gets improved when the CEO has a postgraduate qualification, i.e., when the CEO holds an MBA, a master, or a PhD degree. Besides, results reveal that executives who have an experience in a related field will positively affect the firm's performance. Finally, evidence shows that high CEOs tenure improves corporate performance. Overall, these findings demonstrate that executives' attributes are key factors that would explain differences in Saudi firms' performance. These results would help shareholders to make the right decision in selecting CEOs to manage the company.

• Journal of Korea Trade
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• 제25권2호
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• pp.134-151
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• 2021

Purpose - This study empirically analyzes the impact of the internal and external network embeddedness of foreign subsidiaries and local market characteristics of the host country on the CEO selection whether or not to appoint an expatriate as the CEO of a foreign subsidiary. Design/methodology - To conduct an empirical analysis, we obtained a list of the headquarters of Korean MNCs from the Korea Chamber of Commerce and Industry. Based on the list of HQs, we identified a final list of overseas subsidiaries of Korean MNCs that have entered the world from KOTRA (Trade-Investment Promotion Agency for Korea). Then we conducted an empirical analysis based on the results of 391 questionnaires by employing logistic regression analysis. Findings - The results of empirical analysis are as follows. First, the higher the subsidiary's internal network embeddedness, the higher the tendency appoint an expatriate as the CEO. Second, the higher the volatility of the local market, the higher the tendency to appoint an expatriate as the CEO. Third, the stronger the competition in the local market, the lower the tendency to appoint a PCN. Originality/value - This study has significant theoretical implications in that it examines the link between the internal and external embeddedness of overseas subsidiaries and the appointment of parent country nationals (PCNs) as the CEO that prior research has not examined.

• 경영과정보연구
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• 제35권3호
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• pp.155-171
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• 2016

소유와 경영이 분리된 기업에서는 경영자와 주주 간의 이해관계 상충으로 인한 대리인 문제가 발생될 수 있으며, 이를 해소하기 위한 지배구조체제로서 CEO에 대한 주식인센티브제도를 실행할 수 있다. 하지만 본 제도의 실효성에 대해서는 서구 기업들을 대상으로 한 연구들에서와 마찬가지로 중국기업들을 대상으로 했던 선행연구들에서도 상충되는 다양한 주장들이 제시되어 왔다. 따라서 국영기업들의 사유화를 추진해 온 중국 정부는 소유와 경영이 분리된 기업들의 대리인 문제를 보다 효과적으로 해소시키기 위하여 "상장기업 주식인센티브관리법"을 2006년부터 시행해왔다. 하지만 본 법률의 기대효과가 발생되었는지에 대해서는 아직도 명확한 답변을 하기 어려운 상황이다. 이에 본 연구에서는 2006년 법률의 시행 이후 중국 상장기업 CEO에 대한 주식인센티브제도가 기업들의 성과향상에 기여했는지, 더불어 이사회의 특성들이 CEO 주식인센티브와의 상호작용을 통해 기업성과에 어떤 영향을 미쳤는지에 대한 실증분석을 실행하였다. 연구표본은 2008년부터 2013년까지의 6년의 연구기간 동안 최고경영자에 대한 주식인센티브제도를 실시한 중국 상장기업들이며, 제시된 가설들에 대한 검증을 기업성과를 종속변수로 하는 계층적 다중회귀분석을 통해 실시하였다. 연구결과에 따르면 CEO 주식인센티브와 기업성과 간에는 기대했던 것처럼 정(+)의 관계가 있는 것으로 나타났다. 또한 이사회의 지분보유는 CEO 주식인센티브와 기업성과 간의 관계를 강화시킨 것으로 나타났다. 하지만 이사회의 독립성을 나타내는 사외이사비율과 CEO/이사회의장직의 분리는 CEO 주식인센티브와의 상호작용을 통해 기업성과에 중대한 정의 영향을 미치지 않은 것으로 나타났다. 이와 같은 분석결과에 기초하여 본 논문의 결론에서는 이론적 실무적 차원의 중요한 시사점들을 제시하였다.

• 기술혁신연구
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• 제13권3호
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• pp.51-76
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• 2005

This study aims to investigate hypotheses for the effects of CEO's self-sacrificial leadership behaviors and employee's organizational committment of 50 Korea venture firms registered in Korea Venture Business Associations. To understand the importance of followers' characteristics in recent leadership studies on venture CEOs, it is proposed that self-sacrificial leadership behaviors will positively effect on organizational commitment. And it is also proposed that the follower's need for achievement(N-Arch) moderates in the relationship of self-sacrificial leadership behaviors and organizational commitment. After descriptive survey, research model setup, and field survey, this empirical study investigated the above mentioned hypotheses thru SPSS for Windows 12.0. It involved linear regression analysis to reveal the significant main effect of the self-sacrificial leadership behaviors. It also revealed moderating regression analysis to reveal the significant moderating effects of need for achievement between the independent variables(self-sacrificial leadership behaviors) and dependent variable(the organizational commitment). Results revealed that CEO's self-sacrificial leadership behaviors positively affected to its employee's organizational commitment under change-oriented and innovative new technology drive, self-developing environments of venture business in Korea. However, positive moderating effect of N-Arch was not supported between leader's self-sacrificial leadership behaviors and follower's organizational commitment in Korea venture firms.

• 한국프랜차이즈경영연구
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• 제11권4호
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• pp.31-44
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• 2020

Purpose: The purpose of this study is to examine the effects of CEO's self-determination on entrepreneurship, business performance (operational and financial performance). Also, this research provide some strategic insights for improving business performance. In the proposed model, self-determination consists of autonomy, competence, and relatedness, and entrepreneurship consists of innovation, initiative and risk sensitivity, and proactiveness. More specifically, this study proposes a framework that entrepreneurship and operational performance will play mediating roles between self-determination and financial performance. Research design, data, methodology: In this study, an online survey was conducted on SME CEOs for analysis, and a total of 122 samples were used. In the analysis process for hypothesis verification and evaluation, frequency analysis was first performed to identify the demographic characteristics of the respondents, and confirmatory factor analysis was conducted to assess the reliability and validity of the measurement model. In addition, a structural model analysis was conducted to examine the structural relationships between CEO's self-determination, entrepreneurship, and business performance (operational and financial performance) using SmartPLS 3.0. Results: The findings and summary are as follows. First, the autonomy of self-determination has a positive effect on entrepreneurship. Second, the competence of self-determination affects entrepreneurship and operational performance. Third, it affects the innovation, initiative and risk sensitivity of the CEO's entrepreneurship, and ultimately, its operational performance. The results show that the business performance of Start-up also increases when self-determination can be a factor in increasing entrepreneurship in three sub-dimensionalities. Conclusions: The conclusion of this study is that in order for SMEs to develop into a sustainable company by securing competitiveness after start-up, external motivation such as external help and support from the state (local government) is important, but competence and relationship, which are components of self-determination. The intrinsic motivation of the CEO may be more important. To this end, CEO's should prioritize learning for competency development, and the government should pay attention to providing various educational programs through establishment of education policies and education systems to enhance the competency of start-up CEO's.

• 보건행정학회지
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• 제16권3호
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• pp.1-18
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• 2006

The organizational effectiveness of hospital in various environmental fluctuations is a large and complex problem. Hospital CEO leadership characteristics may be a critical determinant of employees' job satisfaction and turnover intention. Several empirical studies on transformational leadership found that transformational leadership behaviors were positively related to workers' job satisfaction and turnover intention. Very little research related to this subject has been done in health care settings in Korea. The author explores the relationship between hospital CEO leadership style and its effect on job satisfaction and turnover intention among the all staffs of general hospital. The relationship of hospital CEO leadership style to employees' job satisfaction was investigated using the Bass's leadership paradigm of transformational and transactional leadership. The Multifactor Leadership Questionnaire(MLQ) and the index of job satisfaction and turnover intention were completed by 493 hospital employees(doctors, nurses, hospital administrators, technicians, and assistants). The findings show a similar trend to the previous studies. Hospital CEO leadership behaviors and employee outcomes were significantly correlated. Correlations showed a significant positive relationship between those hospital CEO exhibiting a transformational leadership style and the job satisfaction of their staffs. The results of multiple regression analysis indicate that the effect of charisma in transformational leadership behaviors is more higher than other variables. Transformational leadership style may be a more effective strategy and have a greater effect on staff outcomes, attitudes and behaviors. The findings of this study reveal implications for efficient hospital management and the importance of understanding relationship between hospital CEO's leadership style and subordinate behaviors in the context of CEO's desirable role and function for hospital strategy planning and future direction.

• 벤처창업연구
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• 제2권3호
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• pp.123-143
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• 2007

21세기 글로벌 시대를 맞아 급속한 대내외적 경제 성장과 함께 여성의 경제활동 참여 및 여성 CEO의 등장이 급속히 증가하고 있다. 이러한 시대적인 흐름에 따라 그동안 학계에서는 여성기업에 대한 관심은 물론 체계적인 연구가 점진적으로 나타나는 현상을 볼 수 있다. 이와 같은 시대적 현상과 함께, 본 연구는 여성기업의 경영자 특성과 기업 성과간의 관계를 실증적인 연구로 살펴봄으로써 여성기업의 경쟁력 제고와 기업 성과향상에 이론적 및 실무적 시사점을 제공코자 한다. 본 연구는 전국의 여성기업중 여성창업기업을 대상으로 하여 수행된 자료를 수집하여 실증연구를 실시하였다. 분석결과 여성창업자의 특성과 기업성과에 있어서 인구통계적 특성 중 학력이 유의미한 영향을 미치는 것으로 나타났다. 또한 관리적 능력, 기업가정신, 기술적 능력이 매출액, 시장점유율, 수익성에 유의한 영향을 미치는 것으로 나타났다. 이러한 실증연구 결과는 향후 여성기업들에게 있어서 여성기업가 자신의 경영자적 특성 확보 및 관리적 능력 및 기술적 능력 향상, 그리고 기업가 정신의 중요성을 밝혀주고 있다.

• 분석과 대안
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• 제5권2호
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• pp.39-76
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• 2021

本研究通过高层梯队理论和人力资本理论探究中国民营企业首席执行官的政治关系为企业所带来的影响。首席执行官的个人特征对企业的战略决策产生直接或间接的影响,同时可作为企业特有的优势,为企业的可持续发展发挥着人力资本的作用。对此,本研究通过实证探究中国民营企业的首席执行官所拥有的政治关系是否对企业的人力资本企业绩效产生积极影响。另外,本研究将政治关系的直接对象-- 中国地方政府分为不同阶层,考察政治关系的人力资本价值和影响力的差异,而且预测政府补贴可以在这一关系中起到中介的作用。为了验证这一论点,以2008年至2016年间在中国上海和深圳证券交易所上市的1,451个企业的共9,849个观测值为对象进行分析,结果确认首席执行官的政治关系对企业绩效产生正向(+)的影响。另外,从各阶层的地方政府来看,只有与作为最高层地方政府的省级地方政府有政治关系时,才能对企业绩效产生积极影响；同时,只有在首席执行官拥有的人力资本的价值和影响力与省级地方政府有关联时才能发挥上述的积极影响。另外,政府补贴的中介效应在与地级地方政府有政治关系时,会具备完全中介的属性,进而对企业经营成果产生积极影响。可以说,地方政府在政府补贴支付中起到核心作用,因此经营者的政治关系常被运用为企业的非市场战略。

• 한국정보시스템학회지:정보시스템연구
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• 제10권2호
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• pp.65-88
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• 2001

The purpose of this study is to examine the relationship between CIO's characteristics and CIO's role. The CIO's characteristics include CEO/CIO relationship, CIO's power in his/her organization, hire type of CIO, and career background of CIO. The results of this study are as follows: part of the CIO's characteristics has a positive relationship with the CIO's role. In other words, the CIO's role is influenced by the CEO/CIO relationship, the CIO's power, and the hire type of CIO. However, the relationship between the career background of the CIO and the CIO's role is not statistically significant.

• 한국콘텐츠학회논문지
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• 제12권12호
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• pp.372-384
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• 2012

기업인의 네트워크가 기업의 성립과 성장에 중요하고 지역발전에도 필수적인 요소로 인식되고 있지만 기업인네트워크와 그 활동에 대한 실태조사를 포함하여 기업인네트워크의 특성과 성과에 대한 연구가 부족하다. 본 연구는 충남서북부에 소재한 기업들을 대상으로 기업인네트워크 활동에 대한 실태조사를 수행하고 기업인네트워크의 특성과 성과기대에 대한 분석연구를 수행하였다. 연구수행의 방법으로는 선행 연구들을 고찰하고 재무, 인적, 경영관리 성과기대를 종속변수로 하여 가입단체의 수, 평균 활동기간, 임원활동여부, 만족도의 독립변수와의 관계에 대한 연구모형을 실증분석 하였다. 검증은 응답된 전체 네트워크, 유형별 네트워크, 그리고 개별적 네트워크에 대한 3단계 분석으로 수행되었다. 분석결과, 모든 단계의 검증에서 인적 성과기대(직원채용 및 관리)는 유의성을 나타내지 않았으며, 전체 네트워크 검증에서 가입단체의 수가 성과기대(경영관리, 재무적)에, 만족도가 재무적 성과기대에 유의한 영향을 보였다. 유형별 검증 단계에서 B2G유형의 임원활동여부와 만족도가, CEO과정유형의 평균활동기간이 성과기대(경영관리, 재무적)에 영향을 나타냈다. 개별적 검증 단계에서는 특정한 네트워크에 한 해서 임원활동여부와 만족도가 성과기대(경영관리, 재무적)에 영향을 보였다. 본 연구는 기업인의 지역기반 기업인네트워크에 대한 이해와 전략적 활용을 가능하도록 하였다는 의의를 갖는다.