• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.447-456
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• 2021

State-Owned Enterprises (SOEs) are business entities that are owned mainly by the state. Good financial governance (GFG) is as important for SOEs as for the private sector companies. Prudence and GFG can affect the value of the company. This research aims to test the impact of macroeconomics, investment decisions, and financing decisions on prudence, Corporate Social Responsibility Disclosure (CSRD), dividend policy, and company value of SOEs registered on the IDX from 2014-2019. GFG and financing decisions are moderating variables. The population in this study is 16 SOEs listed on the Indonesia Stock Exchange from 2014-2019. The research method is quantitative and uses Partial Least Squares (PLS), which is an approach to Structural Equation Models (SEM) that allows researchers to analyze the relationships simultaneously. The results showed that macroeconomic factors, investment decisions, financing decisions, and prudence directly affect the company's value. However, CSRD and dividend policy directly do not affect the company's value. Prudence can mediate the influence of financing decisions on company value. GFG moderates the relationship between prudence and company value. Thus, GFG is key to producing compliant regulatory reports and disclosures. GFG aims at facilitating effective monitoring and efficient control of the business. Its essence lies in fairness and transparency in operations and enhanced disclosures for protecting the interest of different stakeholders.

• 한국동물생명공학회지
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• 제34권3호
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• pp.183-189
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• 2019

The aim of this study was to assess the levels of genetic diversity and relationships of Korean native black goat (n = 58), compared with the exotic breed, Boer (n = 97). For the analysis of genetic characterization 11 microsatellite markers (MAF065, INRA063, CSRD247, OarFCB20, SRCRSP5, INRA006, ILSTS008, ILSTS011, INRA005, ILSTS087, SRCRSP8) were genotyped. The number of alleles was observed 3 (INRA005) to 10 (SRCRSP8) each markers. The mean expected and observed heterozygosity (H_exp and H_obs) and polymorphism information content (PIC) for the Korean native black goat breed varied from 0.551 to 0.860, 0.517 to 0.948 and 0.464 to 0.835, respectively. Principal Components Analysis (PCoA) and FCA results showed that Korean native black goat breed was confirmed to be clearly separated from bore breed. These results were scientific evidence that Korean native black goat represents a unique and valuable animal genetic resource.

• 산경연구논집
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• 제10권3호
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• pp.7-16
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• 2019

Purpose - The purpose of this paper is to investigate the determinants of corporate anti-corruption practice disclosure (ACPD) from the perspective of rent-seeking theory. Research design, data, and methodology - Data are hand-collected from corporate social responsibility reports (CSRR) issued by 724 A-share listed firms in China. This paper provides an empirical analysis of the relationship between ownership structure and corporate ACPD as well as its moderating role in the institutional environment. Results - Our findings indicate that rent-seeking is a key factor in influencing corporate ACPD. State-owned enterprises disclose significantly more anti-corruption information than private ones in order to achieve personal promotion of top executives. Monopoly enterprises reported significantly less anti-corruption information than enterprises in competitive industries due to their rent-seeking behavior. The reduction of government intervention and improvement of legal environment are helpful to curb corporate rent-seeking activities and enhance the level of corporate ACPD. Conclusions - Rent-seeking is an important factor in explaining corporate voluntary disclosure in emerging countries. Institutional environment also plays a moderating role in the relationship between ownership structure and corporate voluntary disclosure. Our results are of interest to policy makers, regulators and market participants that are interested in corporate voluntary disclosure and corruption prevention.