• 기술혁신학회지
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• 제16권1호
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• pp.199-229
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• 2013

이명박 정부 들어 큰 변화를 겪은 과학기술계는 차기 정부의 과학기술행정체제 개편을 둘러싸고 다양한 논의를 전개했다. 최근 우리나라는 추격의 대상이 주어졌던 과거와 달리 스스로 문제를 던지고 해결해야 하는 탈추격 상황에 있다. 그 과정에서 과학기술혁신정책은 삶의 질 제고, 지속가능한 발전, 불균형 해소 등 다양한 사회적 목표를 포괄하는 3세대 혁신정책 또는 통합형 혁신정책으로의 진화를 모색하며 관련 정책 및 부처 간의 연계 조정을 핵심 과제로 다루고 있다. 본 연구는 우리나라 혁신 거버넌스를 둘러싼 과학기술혁신의 활동 환경 정책 패러다임 변화를 살펴보고 차기 정부가 나아가야 할 혁신 거버넌스 개편 방향과 철학을 몇 가지 안으로 제시했다. 탈추격 혁신정책, 통합형 혁신정책 등의 철학적 기반 하에 혁신 거버넌스 개편 안으로 현행 체제를 유지하되 소프트웨어 개편을 강조하는 1안, 과학기술부 부총리 체제와 지경부의 발전적 해체를 강조하는 2안, 국과위의 발전적 개편을 강조하는 3안을 주장하였다.

• 유통과학연구
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• 제12권1호
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• pp.5-12
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• 2014

Purpose - The general objective of this study is to explain the governance mechanisms of relational exchanges by considering both economic and relational factors. As regards the relationship between opportunism and governance mechanisms, opportunism was hypothesized as being positively related to the use of the authority mechanism, and negatively related with use of the trust mechanism. Research design, data, and methodology - Purchasing relationships between original equipment manufacturers (OEMs) and their component suppliers were chosen as the empirical setting. Purchasing specialists in each company, who interact regularly with suppliers and have the major responsibility for managing the exchange relationships with suppliers, were used as the respondents for this study. A mail survey methodology was employed to collect data in the final field survey. Results - As predicted, opportunistic behavior is found to be negatively related to the use of the trust mechanism and positively related to the use of the authority mechanism. Therefore, the result supports the proposed hypotheses. Conclusions - By integrating research streams, this study contributes to the marketing discipline by improving our understanding of when and why different mixtures of governance mechanisms are used.

• 유통과학연구
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• 제12권8호
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Journal of Korea Trade
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• 제24권8호
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• pp.63-80
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• 2020

Purpose - Recent empirical studies have shown that FDI is expected to be strongly associated with democratic governance, political stability, and sound macroeconomic conditions of the host country. We attempt to take it a step further to see if governments implement a major change in institutional characteristics, will the institutional reform toward better governance have a substantive effect in enhancing FDI inflows. This paper thus aims to analyze the importance of good governance as an important factor in the attractiveness of FDI inflows in ASEAN+3 (Korea, China, Japan) countries. Design/methodology - To determine the effects of good governance on FDI inflows across ASEAN+3 countries recorded between 1996-2018, the Worldwide Governance Indicators (WGI) are used to investigate the impact of good governance on FDI inflows. The model has been estimated by using fixed effects to show the robustness of the results. Findings - Our main findings can be summarized as follows: Political Stability, Rule of Law, and Voice and Accountability have a statistically significant impact on the inflow of FDI in the ASEAN+3 Countries, especially for Korean economy. Moreover, GDP growth continue to exert their positive influence. However, Regulatory Quality, Government Effectiveness and Control of Corruption, though equally important, are insignificant to attract FDI inflows. The key finding is that good governance has a significant impact on inward FDI in the ASEAN+3 countries. Originality/value - Existing studies focus on the impact of political factors on FDI across countries. This paper instead attempts to investigate which type of good governance is the most important in promoting FDI inflows across ASEAN+3 countries, which is essential for multinationals to consider when choosing a foreign site as a possible FDI destination.

• 유통과학연구
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• 제20권12호
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• pp.13-22
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• 2022

Purpose: The paper contributes to the existing literature on Vietnamese corporate governance and firm performance with a focus on listed family firms and the use of a more suitable econometric framework to analyze firm performance. The study investigates how family firm performance is affected by corporate governance under the standpoint of stewardship theory in Vietnam. Research design, data and methodology: With the use of different measures for firm performance (Tobin's Q, ROA, and ROE), regression models were estimated using Generalized Least Square (GLS) method on a panel data of a total of 113 listed companies during the five-year period from 2015 to 2019. Results: We found that family ownership as the main characteristic of the stewardship theory affects family firms positively. In addition, several other characteristics in corporate governance as board composition (board independence, board audits, and board committees), CEO (age and tenure) and firm characteristics (size, age, expansion, and annual sales) showed significant impacts on firm performance. Our findings also suggest that family firm performance can be either positively or negatively affected based on the characteristics of corporate governance. The findings can help companies evaluate the significance of corporate governance through deciding board structure and the selection of CEOs to match family firm characteristics. It also gives insights for investors, rating agencies, and policymakers for relevant purposes.

• 아태비즈니스연구
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• 제12권1호
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• pp.25-39
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• 2021

Purpose - This study aims to examine whether family firm governance is related to long-term corporate survival. To find out whether and why family firms have higher chances of long-term survival compared to non family firms, this study analyzes the relationship between some governance characteristics that are prevalent in family firms and corporate long-term viability. Design/methodology/approach - This study utilizes a sample of 285 family firms listed on the Korea Stock Exchange (KSE) to probe the influence of governance characteristics on corporate survival. This study conducts Cox proportional hazard regression analysis to estimate the influences on the survival duration. Findings - The results indicate that firms with particular governance characteristics show higher long-term survivability. Specifically, the probability of firm's long-term survival is increased when the CEO is the largest shareholder, which may be related to CEO's stewardship attitudes. Research implications or Originality - This study has significance in that it examines the direct causal variables that enhance long-term corporate viability through a large scale empirical examination. Also, the study findings provide some clues as to why certain family firms outlive non-family firms.

• 한국정보시스템학회지:정보시스템연구
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• 제32권2호
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• pp.45-61
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• 2023

Purpose ESG(Environment Social Governance) activities of IT companies are very important for organizational development in that they can motivate employees to engage in job crafting by giving them a sense of purpose and meaning. There have been many studies on the positive impact of company ESG(Environment Social Governance) activities on financial performance, but unlike the existing financial performance approach, this study suggested that IT companies ESG activities can affect job crafting and job satisfaction of employee, using non-financial organizational variables. Design/methodology/approach This study, based on the related theoretical background, showed the relationship between ESG, job crafting, and job satisfaction, and it was proposed as a research model. A measurement model was constructed, and it was estimated and evaluated with LISREL 9.30, using data from IT companies employees, and it showed satisfactory data-fit of proposed model. The empirical results indicated that ESG(Environment Social Governance) take effect on job crafting, and job crafting take effect on job satisfaction. Findings This study provided several important implications in relation to the ESG(Environment Social Governance) that contribute to job crafting and job satisfaction for IT companies employees. It was confirmed that job crafting variable is a effective mediator linking ESG(Environment Social Governance) and job satisfaction.

• 스마트미디어저널
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• 제11권10호
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• pp.36-45
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• 2022

This study was promoted to prepare an ESG-oriented work system for Korea Expressway Corporation through sustainable highway construction, IOT-based smart highway preparation, and establishment of a broad convergence business governance system between multiple ministries and implementing entities. Based on the 2nd Basic Plan for Landscape Policy (2020~2024) and the Public Design Promotion Act (2018~2022), the study was conducted through the improvement of the highway design method to be applied for four years from 2021 to 2024, the changes in construction and social conditions related to expressways, the analysis of policies and plans to secure consistency with the 'Korean New Deal', and the analysis of the project performance and work promotion system that the Korea Expressway Corporation's business execution organization has promoted together with each government department. The results of this research are expected to help the Korea Expressway Corporation establish the 21st Innovation Plan for the phased construction of a "100-years landscape with people" and the preparation of a sustainable future highway environment creation project for the lives and safety of the people.

• 융합경영연구
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• 제10권6호
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• pp.17-26
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• 2022

Purpose: This study analyzes advanced cases of overseas smart cities and examines policy implications related to the creation of smart cities in Korea. Research design, data, and methodology: Analysis standards were established through the analysis of best practices. Analysis criteria include Technology, Privacy, Security, and Governance. Results: In terms of technology, U-City construction experience and communication infrastructure are strengths. Korea's ICT technology is inferior to major countries. On the other hand, mobile communication, IoT, Internet, and public data are at the highest level. The privacy section created six principles: legality, purpose limitation, transparency, safety, control, and accountability. Security issues enable urban crime, disaster and catastrophe prediction and security through the establishment of an integrated platform. Governance issues are handled by the Smart Special Committee, which serves as policy advisory to the central government for legal system, standardization, and external cooperation in the district. Conclusions: Private technology improvement and participation are necessary for privacy and urban security. Citizens should participate in smart city governance.

• 융합경영연구
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• 제7권3호
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• pp.43-49
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• 2019

Purpose - This paper empirically investigates what factors contribute to management decisions by corporate governance in the Korean stock market. In the paper, dividends and investments were imployed as management decisions and major stockholders' shares and foreign investors' shares were used as corporate governance. Research design, data, and Methodolog - Samples are constructed by manufacturing firms listed on the stock market of Korea as well as those who settle accounts in December from 2001 to 2018. Financial institutions are excluded from the sample as their accounting procedures, governance and regulations differ. This study adopted the panel regression model to assess the sample construction including yearly and cross-sectional data. Results - This results support the literatures that major shareholders showed insignificance to dividends, positive significance to investment in financially unconstrained firms and negative significance to investment in financially constrained firms. Whereas foreign investors favor firms to increase dividends but they decrease investments only in financially constrained firms. Conclusion - This paper documented evidence that financial constrained firms use dividends for their investment and foreign investors decrease investments under financial constraints. But for dividends decisions, foreign investors give significant positive impacts irrespective of financial constraints.