• Journal of Korea Trade
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• 제25권1호
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• pp.184-202
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• 2021

Purpose - This study empirically investigates the relationship between expatriate CEOs of multinational corporation (MNC) foreign subsidiaries and local philanthropy. Since corporate social responsibility (CSR) enables MNCs to achieve local legitimacy, this research argues that local philanthropy is a valuable strategic means for expatriate CEOs of foreign subsidiaries to secure local legitimacy. Design/methodology - To investigate our argument, we use a sample of 5,459 observations from 576 foreign subsidiaries of MNCs in Korea between 2002 and 2016. We conduct a random-effects panel Tobit regression with subsidiary CEO having foreign nationality as the independent variable and local philanthropy as the dependent variable. Findings - Our main findings are that expatriate CEOs of foreign subsidiaries are more actively engaged in local philanthropy. In addition, the positive relationship between expatriate CEOs and local philanthropy is weaker as their tenure increases. Originality/value - How expatriate CEOs overcome their weak local legitimacy as foreigners in a host country has remained unclear because existing studies mainly focused on the control and coordination aspects of staffing expatriates in CEO positions of foreign subsidiaries. This study broadens the literature on subsidiary CEO staffing and CSR activities of MNCs by identifying complementary relationships between expatriate CEOs and corporate philanthropy in the host country.

• The Journal of Asian Finance, Economics and Business
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• 제7권4호
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• pp.9-19
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• 2020

The study aims to answer why the previous studies find the positive or insignificant effect of the CEO's abilities on firm performance. Using 34,285 CEO-firm-year panel data from the U.S. publicly traded firms drawn from the BoardEx and EXECUXOMP database during from 1992 to 2014, the results show that the fit of the CEO's generality or specialist ability with firm strategy matters on firm performance and risk. This study computes a discrete STRATEGY composite measure to construct firm strategy types, such as Prospect or Defend and use CEOs' résumés to construct an index of general skills that are transferable across firms and industries. The results find that generalist CEOs are more suitable for prospectors than specialist CEOs. Firm performance is much better when specialist CEOs work for Defenders. Although the firm performance is better too for the generalist CEOs who fit for the Prospect strategy, the firm's risk is up too. The result suggests that firms need to consider their chosen business strategy to recruit and select CEOs Our findings provide direct evidence that the match between CEO's ability and the firm's strategy is crucial to firm performance and risk.

• 아태비즈니스연구
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• 제12권4호
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• pp.87-105
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• 2021

Purpose - The purpose of this study was to explores how CEO general human capital, one of the most critical issues in recent research, affects compensation schemes. Design/methodology/approach - This study collected the CEOs of S&P500 companies from 2001 to 2009 and contains 4,155 CEO-firm-year observations and 704 different CEOs. Findings - First, only contingent bonus is affected by general human capital and reputation. Second, the career concerns of CEOs are relevant, especially when explaining CEO tenure. Third, we offer an alternative view of what determines the level of cash compensation schemes and the factors that affect the running of a firm. Fourth, we also suggest that the increase in general human capital can be explained by the increase in its relative importance in managing a modern firm. Overall, the results of this study do not only contribute to academics but also important to boards and shareholders. Research implications or Originality - This study intends to fill the gap in the extant literature by examining the relationship between general human capital and compensation schemes.First, we add to the compensation literature by arguing that a cash compensation scheme is efficient for generalist CEOs. We break down CEO cash compensation schemes into fixed and contingent bonus compensation and investigate whether general human capital differentially affects CEO cash compensation schemes, and thus, the sensitivity to unequal pay for human capital. Second, we contribute to the reputation literature by arguing that CEO perceived reputation also affects CEO compensation schemes.

• Clinical and Experimental Reproductive Medicine
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• 제24권1호
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• pp.1-11
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• 1997

It is well known that the zona pellucidae of mouse oocytes become "hardened" when they are allowed to mature in vitro in the absence of serum components. To see if oocytes already undergone meiotic resumption in vivo exhibit similar zona hardening, hardening of ZP of cumulus-enclosed oocytes(CEOs) was examined after culture in vitro since their release from follicles various hours after hCG injection. When CEOs matured in vivo for 3h or longer were subjected to culture in vitro for 14h with BSA alone, zona hardening was significantly reduced compared to those cultured in vitro from the begining of maturation. However, when CEOs matured in vivo for 5h were freed from cumulus cells and then cultured in vitro with BSA alone, little reduction of zona hardening was observed. Preincubation of CEOs for 5h with fetuin, one of the well known inhibitor of in vitro zone hardening, did not prevent zona hardening during its subsequent culture of CEOs for 14h without fetuin. However, when CEOs precultured with both fetuin and PMSG for 5h and then further cultured with BSA alone for 14h, zona hardening was dramatically reduced. Under these conditions, the expansion of cumulus cell was observed. In addition, CEOs cultured with both BSA and dbcAMP to prevent their meiotic resumption showed a significant increase of zona hardening. Whether the observed zona hardening was correlated with the conversion of ZP2 to $ZP2_{f}$ was examined. Zona pellucida, isolated from CEOs matured for 5h in vivo and then further cultured with BSA alone was subjected to SDS-PAGE. Most of ZP2 molecules from these CEOs did not undergo conversion from ZP2 to $ZP2_{f}$. From these results, it is concluded that CEOs undergone meiotic resumption in vivo do not exhibit zona hardening when they were subsequently cultured in vitro without serum components. It appears that cumulus cells play an important role in this phenomenon.

• 품질경영학회지
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• 제47권1호
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• pp.59-74
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• 2019

Purpose: Despite the fact that the majority of domestic firms are small in size, there have been few studies conducted to understand the leadership effectiveness of small firm CEOs. Based on the upper echelon theory, this study attempts to demonstrate empirically that transformational leadership of small firm CEOs can increase the innovative behavior of employees. In addition, the present study examines mediating effects of CEO trust perceived by employees when transformational leadership affects employees' innovative behavior. Methods: The survey data of CEOs'transformational leadership, innovative behavior of employees, and perceived CEO trust were collected from 176 employees working in domestic small firms. Hierarchical regression analyses were performed to examine the main effects between transformation leadership and innovative behavior and mediating effects of CEO trust perceived by employees. Results: The results show that CEOs' transformational leadership is significantly related to the innovative behavior of employees in the current sample. Results also indicate that CEO trust perceived by employees reveals a mediating effect in the process of transformational leadership affecting innovative behavior. Conclusion: The results show that as suggested by the upper echelon theory, the leadership of small firm CEOs can have a significant impact on positive job-related behaviors and attitudes of employees. The results also contribute to expand on the understanding of the relationship between transformational leadership and innovative behavior by explaining that transformational leadership can mediate trust in CEOs in enhancing employees'innovative behavior. Theoretical and practical implications are reviewed, and limitations of the study and suggestions for future research are addressed.

• 한국의료질향상학회지
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• 제8권2호
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• pp.218-231
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• 2001

Background : The purpose of this study was to investigate the understanding and the attitude of Korean hospital CEOs toward the healthcare quality improvement. Methods : A mailed questionnaire survey to the CEOs of hospitals with 400 beds or more was conducted between September 15 and October 30, 2000. Of the 108 hospitals eligible for the study, 58 participated, yielding a response rate of 54 percent. Result : The hospital CEOs have expressed that their hospital management was arduous job, and they had been pressured by increasing competitions among healthcare providers. They indicated that the low fees of health insurance made their hospital management difficult. The results also indicated that there was general consensus that the improvement of service quality was important in encouraging their organizations, but the investment of manpower and equipment ranked higher than the improvement of service quality. The majority of the CEOs have good understanding about quality improvement activities. However the facts that in general QI must be focused at the process of services and customer satisfaction, meanwhile quality improvement activities are helpful for the organizational productivity embarrassed them. The hospital CEOs responded that there were successful changes in terms of quality of care, patient satisfaction, and process efficiency after QI activities, but no increase in patient number and profit. Lack of understanding to QI activities and limited budget seem to attribute unsatisfactory outcomes. Conclusion : The majority of Korean hospital CEOs have a good understanding and attitude about QI activities. As mentioned in the result, despite of several limitations, several facts regarding the CEOs of hospital in Korean can be elucidated. (1) The general cognition of the QI project is relatively high, and it is accepted with positive concern, (2) the priority of the QI project, however, is not set higher than other projects and (3) the specific concepts of the actual QI project such as customer (patient)-focused work driving, the recognition of the work accomplishment, and the importance of rewards have not sufficiently understood.

• The Journal of Asian Finance, Economics and Business
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• 제7권2호
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• pp.99-106
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• 2020

CEOs Overconfidence can bring potentially risky early decisions to businesses, along with large enterprise free cash flow that can bring different investment decisions with CEOs Overconfidence. Especially in the context of Vietnamese enterprises, CEOs are often influenced by behavioral psychology about overconfidence in investment decisions (due to individual cultural characteristics as well as operating financial markets also depend on many factors outside the market). Therefore, the authors study the impact of overconfidence and cash flow on investment in Vietnamese to find the internal relationship between these three factors in the financial environment in Vietnam. With 480 companies listed on the Vietnam Stock Exchange from 2014 to 2018 (companies have continuous reports), the regression analysis results with panel data (FEM, GLS models, correction of robust and GMM dealing with endogenous problems) have shown Overconfidence has a positive impact on investment. At the same time, the results also indicated that enterprises with overconfident CEOs and large cash flows tend to invest less than enterprises with low cash flow. The results of this study have shown the behavioral behavior of CEOs in Vietnamese enterprises that exist under both prospect theory and effective market theory.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.679-687
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• 2020

The aim of this paper is to review studies of women chief executive officers (CEOs) and chief financial officers (CFOs) in the context of financial reporting quality. By using electronic searches and keywords to identify relevant studies, a total of 22 published studies are identified over the period 2010-2020. Based on the review, two underpinning theories have been widely used in examining the effect of women CEOs/CFOs on the quality of financial reporting, namely, risk aversion theory and gender-ethics theory. In addition, a majority of the studies documented that women CEOs/CFOs lead to more conservative reporting and higher earnings quality. The findings underscore the importance to examine the gender issue in accounting literature and established a business and management case for women to attain the top position whether as a CEO or CFO. This paper also recommends to practitioners and regulators about the effect of having women as CEOs or CFOs on financial reporting quality as women are a pool of talent that is underutilized. In addition, this paper goes beyond a classic narrative review by suggesting future research avenues to examine further such issues in order to broaden the understanding of the role of women in accounting.

• 대한원격탐사학회지
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• 제16권2호
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• pp.189-198
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• 2000

This study introduces the CEOS (Committee for Earth Obseuing Satellites) standard format structure that is applicable to image formats of Earth observation systems, and describes several important parameters for post-process applications, especially in precise SAR geocoding and terrain correction application. ERS and RADARSAT were chosen as a representative case and the meaning and usage of various fields in LEADER file were investigated in detail from the viewpoint of SAR geocoding and terrain correction applications.

• 벤처혁신연구
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• 제1권2호
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• pp.89-107
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• 2018

본 연구는 소기업의 지속적인 성장 발전을 위하여 경영자의 성공요인을 살펴보고, 성공요인으로 경영자의 역량을 발견하여 이 요인과 경영성과와 어떤 관계가 있는지 실증적으로 연구하였다. 또한 소기업 경영자의 정보 및 자원 접근성을 제고하여 사회적 자본 확보를 위하여 네트워크 활동의 역할을 검정하였다. 이에 본 연구에서는 소기업 경영자의 역량과 경영성과 간에 네트워크 활동의 매개효과를 중점적으로 검정하였다. 연구 결과 리더십역량, 대외협력역량, 마케팅역량은 경영성과에 유의미한 영향을 주는 것으로 밝혀졌으며, 경영성과를 높이기 위하여 경영자의 리더십, 대외협력, 마케팅 능력을 높이는 경영자 스스로의 노력과 정부 및 지원기관의 정책과 노력이 필요하다. 또한 소기업 경영자의 정보와 자원을 확보하고 획득하는 네트워크 활동의 매개효과를 검정하여 경영성과를 높이는 데 역할을 한다는 점도 실증하여 경영자의 정보와 자원에 대한 접근성을 제고하는 방안을 추진하여야 한다. 따라서 이런 실증적인 검정을 바탕으로 정부, 지방자치단체 및 지원 기관에서는 소기업 지원정책을 수립하고 시행함에 있어 경영성과에 영향을 미치는 요인을 우선적으로 지원하도록 실무적인 참고가 되길 바란다.