• Management & Information Systems Review
• /
• v.34 no.3
• /
• pp.61-78
• /
• 2015

The purpose of this study is to analyze the impact of cash holdings on internationalization of listed manufacturing firms. We explore moderating effect of managerial ownership between cash holdings and internationalization of firms. We analysed cross-sectional data of 645 listed companies from 2000 to 2013 using the fixed effects estimation. Empirical results showed that the there was a positive significant relation between cash holdings and internationalization of firms This study also found that managerial ownership have a significant negative moderating effects in the pathway between cash holdings and internationalization Cash liquidities can be rapidly induced internationalization. Managerial ownership increase agency cost, therefore, it might have a negative effects on internationalization These results suggest that agency cost with cash holdings is very important for cash management.

• Journal of Families and Better Life
• /
• v.29 no.3
• /
• pp.13-22
• /
• 2011

The purpose of the study is to analyze the residential mobility effects and planning discrepancies of home-owning households and renting households. The data for the empirical analysis were collected from 248 units residing in Ulsan and were studied using descriptive statistics, chi-squared tests by cross-tabulation and multiple regressions. The majority of the households did not experience a change in types of housing structure or ownership after the residential mobility. However, the housing size increased after residential mobility, showing that most moves were due to the deficit of housing sizes. In terms of future mobility plans, there were significant differences between home-owning households and renting households. More than two-thirds of the renting households were willing to move within 2-4 years to obtain home ownership. On the other hand, most home-owning households were willing to move for housing size, education of the head, and investment purposes. Compared to the forty-four percent of the home-owning households, seventy-two percent of the renting households were willing to relocate, which shows the effects of unstable housing circumstances.

• KDI Journal of Economic Policy
• /
• v.14 no.1
• /
• pp.3-36
• /
• 1992

"Corporate control by owners" characterizes the current structure of ownership, control and management of big business groups in Korea. It has become an ever more serious obstacle for the Korean economy to end its distinctive "personal capitalism" and to transform the current system into people's capitalism. The current issue, the deconcentration of ownership, through the course of heated debates should be treated from an integrated perspective. That is, the debate should center on the concentration of economic power and it effects on national economy, instead of sticking to the issue of ownership-control issue per se. This paper, by referring to the historical experiences and development paths which advanced countries have already traveled, analyzes the respective aspects of the concentration issue in a rather descriptive and taxonomist manner - market concentration, business diversification, ownership concentration, integrated management of conglomerates, i.e., managing in groups' unit, and the roles of financial institutions. The government policies against the concentration of economic power have so far focused on the size of big business groups and their diversification activities. The two major policy measures are restrictions on cross-ownership and excess capital investment by big business groups, and controls on their credit deals. This paper strongly suggests that the government should change its current priorities in targeting its policies against concentration. The government should reduce the regulations on size and diversification, and focus its policies on substantial dispersion of corporate ownership. The efficacy of government intervention in the management and control of business enterprises seems quite dubious and even anachronistic given the extent of maturity of Korean firms. Therefore, it should be noted that the current regulation-oriented stance taken by the government against the management style of big business groups should be suppressed, as it has assumed some a priori and typical pattern in advance in directing big business groups, such as independent and specialized management in respective firms' unit. This paper, also, raises the need for introducing new regulations on inter-sectoral diversifications between finance, industry and the press.

• Korean Journal of Construction Engineering and Management
• /
• v.21 no.1
• /
• pp.40-49
• /
• 2020

This study analyzed the factors affecting the ruling of litigation on the housing reconstruction and housing redevelopment project based on the cross analysis and logistic regression analysis. According to cross analysis result, the defensive process prerequisite group was showed significant in many variables which were past legal relation, no ownership or association member status, double lawsuit, abuse of lawsuit right·litigation trust, existence of claim-preclusion, no standing to sue·no standing to be sued, lapse of litigation period, no legal interest, no own defect of approval. On the other hand, the offensive cause of action group was found to have no significant variable. According to logistic regression result, the defensive process prerequisite group was showed significant in many variables which were past legal relation, no standing to sue·no standing to be sued, no ownership or association member status, double lawsuit, no own defect of approval, abuse of lawsuit right·litigation trust, existence of claim-preclusion. Meanwhile, the offensive cause of action group was showed significant in only one variable that was defect in relation with articles of association. Overall, it is noteworthy that the offensive cause group showed very low significant results compared with the defensive process prerequisite group.

• Journal of Korea Trade
• /
• v.26 no.6
• /
• pp.118-135
• /
• 2022

Purpose - The purpose of this study is to investigate the relationships among Chinese state-owned enterprises (SOEs), previous M&A experience, and the probability of deal completion in cross-border mergers and acquisitions (CBMAs). Since Chinese SOEs tend to be recognized by host countries as agents of their home country government, this study argues that SOEs will face difficulties in completing CBMA deals. However, the study expects that these difficulties may vary depending on whether the firm has previous M&A experience because firms can gain the knowledge and capabilities necessary to implement subsequent M&As successfully from past M&A experience. Design/methodology - To investigate our argument, we conduct a logistic regression using a sample of 363 CBMA deals from 304 Chinese publicly listed firms during 2007 to 2017. We used SOEs as an independent variable, experience of domestic and foreign M&As as moderating variables, respectively, and CBMA deal completion as the dependent variable. Findings - The study shows a negative and significant relationship between Chinese SOEs and the completion likelihood of CBMA deals. We find that this negative relationship is strengthened when the firm had prior domestic M&A experience, whereas foreign M&A experience alleviated the negative relationship. Originality/value - The issue of government ownership has remained unclear since government intervention has both advantages and disadvantages in pursuing CBMAs. Our findings support literature that argues Chinese SOEs face legitimacy concerns in the host countries, thereby lowering their CBMA deal completion likelihood. Furthermore, the study enriches the literature by identifying different moderating effects of domestic and foreign M&A experience on the negative relationship between SOEs and CBMA deal completion.

• Journal of Arbitration Studies
• /
• v.25 no.3
• /
• pp.155-184
• /
• 2015

This paper addresses the question of what kinds of dispute resolution choices can effectively handle complex intellectual property disputes, given the rising importance of IP, the increasing frequency and complexity of IP disputes, and the lack of research on dispute resolution strategies. For this analysis, the study adopted the analytic hierarchy process approach, which covers complex, multi-criteria decision problems, to quantify the expert's judgments on IP dispute resolution choice. Its results show that the effectiveness of resolution methods differs, depending on the type of IP dispute classified into seven issues, which are (i) requirement for validity of IP right, (ii) range and duration of IP right, (iii) transfer of IP right, (iv) licensing, (v) use of IP right, (vi) declaration of IP infringement, and (vii) estimation of damage. The disputes over IPR ownership and IP infringement remain challenging issues in due to strong requirement of the cross-border enforcement. Alternative dispute resolution (ADR), especially arbitration, is determined to be a more effective method to deal with international IP disputes, but various advanced types of ADR techniques should be further developed to deal with the increasing complexity of IP disputes.

• Management & Information Systems Review
• /
• v.35 no.4
• /
• pp.79-98
• /
• 2016

A large number of Chinese enterprises have grown up and become increasingly competitive. Chinese firms have ventured abroad to search for new sources of growth. Overseas mergers and acquisitions of Chinese companies has been developed rapidly through extensive opening policy and active support system by government. The main purpose of this study is to identify the factors that affect the outcomes of overseas mergers and acquisitions made by Chinese firms in recent years, particularly, financial performance of the acquiring firms. This study aims to analyze systematically financial performance and its determinants of Chinese overseas M&A in recent years. This study chooses a sample of 167 overseas mergers and acquisitions in the manufacturing industry in China and the relevant data were collected during the period 2006 to 2012. The data were analyzed by using a multiple regression analysis to identify determinants of corporate performance. We showed that cultural distance, past performance, state ownership, and interaction between cultural distance and past performance. Findings of this study can provide useful guidance to outward Chinese M&A in the future.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.1
• /
• pp.231-240
• /
• 2019

The paper aims to investigate the relationship between firm size and organizational actions on adopting social media for corporate reputation management. The sample group of 198 companies is selected with a simple random sample method from the New York Stock Exchange (NYSE) listings: Sixty nine companies were from the Fortune 500 listings, seventy one companies from the NYSE midsize capitalization and fifty eight companies from the NYSE small capitalization listings. This study employs cross tabulations and Chi-square analysis, and the Kruskal-Wallis that enables the comparison of three samples that are independent. The results of the study show that (1) large firms have more social media ownership than small firms, (2) large firms respond to social media posts at a greater frequency and quickly than small firms, and (3) firm size is less likely associated with response styles to social media for online reputation management. The results show that reply time and response styles of organizations to social media customers in the 2015 survey has no significant change compared to that of 2011. There appears to be a pervasive lack strategic framework as most firms in the study were found not to be adequately monitoring or leveraging social media communication for their reputation management.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.11
• /
• pp.97-106
• /
• 2021

The condition of financial services in Indonesia is unique, based on various characteristics, behaviors, and preferences. Therefore, the study of finance and banking is interesting to study as a recommendation for government policies. This paper aims to analyze the barriers to accessing formal financial services in Indonesia and why informal financial services are preferred. This paper presents a case study of financial inclusion in selected provinces in Indonesia using the SOFIA dataset from the Ministry of National Development Planning. Overall, this data consists of 20,000 individuals from 4 provinces and 93 regions representing the population in eastern Indonesia. The analysis was carried out by processing individual-level cross-sectional data surveyed in 2017 using the probit binary logistic method. The results identify the individual barriers in accessing formal financial services, including account ownership, saving, and credit activities in the formal financial institutions, and amplify the image by analyzing what determinants affect people to choose informal institutions. We found that some individual characteristics such as age, gender, education, income, employment status, residence, and access to technology significantly affect the barrier to formal financial services in East Indonesia.

• Journal of Korean Public Health Nursing
• /
• v.23 no.2
• /
• pp.162-173
• /
• 2009

Purpose: This study investigated the health and socioeconomic status of single-parent and partnered families, and examined the intersection between sex and single-parent status focusing on inequalities of health and socioeconomic status. Methods: This was a cross-sectional study using the data from the nationally representative 2005 Korean National Health and Nutrition Examination Survey. A total of 14,827 respondents had custody of their own children and other family members (13,943 were coupled families and 891 were single-parent). Results: Our result indicate that single-parent had poorer health status and were more likely to have lower educational attainment, lower household income, no home ownership and be unemployed. However, the association between single-parent status and socioeconomic and health inequality were in divergent ways according to sex. The most socioeconomically disadvantaged were single-parent women. Inequalities in health differ markedly by sex but vary little according to single-parent status. Conclusions: An uneven distribution of socioeconomic resources might help us to understand why single-parent, both women and men, have worse health than parents who live together. Previously recognized sex gap with regard to health status also might help us to understand the difference in health between single-parent men and single-parent women found here.