• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.787-796
• /
• 2021

This study investigates the effect of chief executive officers (CEO) demographic characteristics such as age, functional experience, education, and gender, on corporate leverage decisions. This study investigates the independent commissioner's role in moderating the relationship between CEO demographic characteristics and leverage decisions. The data used is panel data with a sample of 283 non-financial companies listed on the Indonesia Stock Exchange (BEI) from 2010-2017. Moderated regression analysis is used as an analytical technique, with the selected model fixed effects model. The results showed that male and young CEOs were more risk-averse, so they tended to use debt more. However, this study found no evidence of the effect of CEO experience and education on leverage. This study finds evidence that independent commissioners reduce the influence of CEO age and gender on leverage decisions. It shows the role of independent commissioners in controlling risk-taking from male and young CEOs related to leverage decisions. These results become input for companies to consider demographic characteristics in choosing a CEO. Also, companies need a board (in this study seen from independent commissioners) that is strong enough to control the CEO regarding risky decision making, such as leverage decisions.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.12
• /
• 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.

• Knowledge Management Research
• /
• v.21 no.1
• /
• pp.79-98
• /
• 2020

The majority of research on institutional theory suggests that the new institutional practices presented by national governments and expert groups is a legitimate demand by society, and that the organization is a passive actor that accepts it. However, individual organizations often perform so-called decoupling acts that run their organizations in their own way instead of following the way the system requires, despite the pressures of a strong institutional environment. In this study, the decoupling behavior of these organizations can be varied by the characteristics of the highest decision maker in the organization based on the upper-echelon theory(UET) even if there is no difference in pressure experienced by individual organizations, and their relationship is empirically analyzed among secondary educational institutions that are relatively strongly regulated by the government. According to the analysis of 192 high schools in Korea, the female principal, the younger the principal, and the higher the educational background, the more likely they are to engage in decoupling behavior that are different from the intent and content of government policies. Therefore, from the results of this study, meaningful theoretical and practical implications can be provided for researchers and managers in the field of knowledge management research.

• Journal of Korea Multimedia Society
• /
• v.18 no.11
• /
• pp.1408-1418
• /
• 2015

As the CEO`s of game companies should be ready for the rapid change of technical environment of game industry, highly skilled employees and the social capital become very important factors in doing game business. 2013 Korea Game White Paper shows that many game companies prefer employees with job experience. The social capital and network help game companies get industrial information easily. This study empirically examines the relationship among CEO`s related business experience, corporate performance and social capital based on 134 Korean game companies. CEO`s characteristics are measured by using demographic characteristics including age, amount of education, and prior job experience and psychological characteristics, but this study focuses on related business experience. The results of this study show some significant relationship between the related business experience of CEO and nonfinancial performance of the firm. Secondly, this study verifies the moderating effect of the social capital between the related business experience of CEO and non-financial performance of the firm. The results of the moderating effect of the social capital show that social capital increases the non-financial performance.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.2 no.3
• /
• pp.145-168
• /
• 2007

Current researches have been proceed on CEO's Characteristics of venture business because the CEO has considered as one of the important factors for the success of venture business. But prior research on the performance of venture business has produced inconsistently in terms of CEO's characteristics. The purpose of this study is to develop a comprehensive model for the relation between the performance and a type of CEO's characteristics by a growth process of venture business, which is the main subject of analysis in venture business. Also, this study analyzes various CEO's characteristics and the effects for performance of venture business which are in the Daedeok valley. To achieve the purpose of this research, an empirical study by using research model and hypotheses including the general characteristics of venture business and CEO's demographic characteristics has been presented as a research method for relation analysis. The principal findings of the research and its significance are summarized as follows: First, it was found that there is a significant different in the performance of CEO's behavioral characteristics by the scale, type and growing step of organization for venture business. Second, it was found that there is not a significant between an academic career, management experience, foundation experience for business and related working experience of venture CEO and the performance, but there os a partially significant difference in CEO's behavioral characteristics. Third, it was found that there is a partially significant difference between CEO's behavioral characteristics of venture business and the performance by the general characteristics of organization for venture business and demographic characteristics. In conclusion, in spite of the insufficient research for venture business in Daedeok, the implications of theses findings and contributions made by this research is to confirm the characteristics factor of CEO for venture business and general characteristics of organization for venture business by multidisciplinary side. In addition, the findings provide the basis for the analyzing of managerial strong point and weak point referred to supporting system for venture business. Finally, the findings of this study suggest that the results should be a useful data for groping a solution for upbringing plans in terms of a long-term point of view.

• Journal of Venture Innovation
• /
• v.3 no.1
• /
• pp.143-163
• /
• 2020

When we assume the transition to a knowledge management society, what factors should be differentially added to the characteristics of CEOs of small enterprises to enhance management performance? This can be done by measuring the core competence of the CEO who is an importance asset of the small firms. This study focuses on the following four inquiries to clarify the relationship among the core competence of the CEO, the knowledge management and the performance of the firms. First, we test the influence of the core competence of CEO on business performance. Second, we explore the effects of CEO characteristics on the knowledge management and the performance of the firm. Third, we test whether knowledge management has a mediating effect in the relationship between the characteristics of CEO which is a parameter, and the business performance of the firm which is a dependent variable. Fourth, for the sake of a deeper understanding of the CEO of the small firms, we conduct t-test or multiple comparison to find out the statistically significant differences among means of the main variables such as demographic characteristics, work experience, and entrepreneurship. The academic contribution of this study is to verify the characteristics of the CEO, which influence the business performance:the global competence, challenge spirit, interpersonal flexibility and stress tolerance, in connection with the knowledge management of small firms. The practical contribution of this study is to test whether CEOs can demonstrate successful business performance through knowledge management rather than measuring business performance after a certain period of time through profit and loss statements in this era of uncertainty.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.2 no.3
• /
• pp.123-143
• /
• 2007

The world has become the most globalize in the new millenium since the beginning of the human being history. In proportion to female economic activity has increased, we have seen many women CEO. Top class sociologists have already started to study female Cooperation. Gradually, they are using highly advanced statistical methods and scientific tools to demonstrate their theory. As survey, this study of relations between CEO characteristics and performance of Woman's Enterprise, we are looking forward to provide a implication about between strengthen the competitiveness and improvement in outcome theoretically and practically. This study executed to woman establishment enterprise among national woman enterprise and to collect achieved data. Analysis result, Woman founder's characteristic and enterprise have been shown to influence school ability among demographic characteristic. Also, management ability, entrepreneurship, technological ability have been shown to influence sales, market share, profitability. According to research, it IS important for business women to know management, improving of technology ability and entrepreneurship.

• The Korean Journal of Franchise Management
• /
• v.11 no.4
• /
• pp.31-44
• /
• 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.

• Management & Information Systems Review
• /
• v.37 no.3
• /
• pp.115-130
• /
• 2018

The purpose of this study is to clarify the relationship between organizational characteristics and information systems characteristics or job satisfaction, attempts to examine the regulatory effects brought about by the adjustment of social capital theory. So far, The results of this study are based on the analysis of individual models from the perspectives of each functional organization such as HR, organization, finance, operation, and MIS. Therefore, this paper attempted a comprehensive analysis of factors affecting job satisfaction and firm performance by presenting an integrated research model of organizational perspectives in addition to the approach of MIS perspective. The characteristics of information system were promptness, CEO support, and compensation. And the organizational characteristics were multiple regression analysis using innovation, trust, and preferential factors. The analysis data is based on sixth data from the HCCP of Korea Productivity Center. According to the analysis results, all the variables had a significant influence on satisfaction, especially CEO support and trust. The analysis of the moderating effect between innovation and job satisfaction was moderated by vision sharing. Only the logistic regression analysis of the satisfaction with the average salary of the members among the demographic variables was statistically significant. Therefore, this study can be concluded that the overall satisfaction level will be improved by recognizing appropriate compensation as sufficient compensation.

• Korea Journal of Hospital Management
• /
• v.16 no.4
• /
• pp.131-160
• /
• 2011

The purpose of this study was 1) to understand the job transfer in education & training(E&T) programs & organizational situational characteristics, and 2) to analyze the effects of the E&T programs & organizational situational characteristic groups on each of the levels of job transfer. There is intimate relationship between E&T programs characteristics & organizational situational characteristics and job transfer, so we can't think of them separately. With this point of view the most frequently discussed problem is how to apply the theory in actual job, but in reality it's true that the improvement of job transfer can't reach the expectations of the E&T programs. In literature view study, the concepts of job transfer in E&T, the general theory on E&T, and the actual condition and points at issue of the existing E&T practices in the medium and small-sized hospitals were defined. As the results from empirical analysis, we could find followings: First, in evaluation of the job transfer, demographic characteristics (seniority, occupational category, position) variables have a significant different. Second, in degree of the job transfer, E&T programs characteristics(contents of E&T, design of E&T, conditions of E&T, teaching ability of lecturer, methods of E&T) variables have a different influence upon each of the evaluation levels of E&T. Third, support of CEO variables have a different influence on the job transfer according to contents, design, conditions of the E&T programs. Fourth, support of co-works variables have a different influence on the job transfer according to design, conditions, method of the E&T programs. Fifty, support of organizational atmosphere variables have a different influence on the job transfer according to contents, design, conditions of the E&T programs.