• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.9
• /
• pp.61-73
• /
• 2022

The article examines the ownership structure and dividend payout behavior of India-listed firms using a panel regression approach. It focuses on family ownership and examines why dividend payouts of family firms differ from non-family firms. The study finds that family firms dominate and have concentrated ownership using data from the NSE-listed regular dividend-paying firms. Although family ownership concentration is high among Indian firms, these firms are not concerned about distributing cash as dividends. Instead, these firms focus on retaining and passing on control from one generation to the next. The evidence shows that family firms pay low dividends and have higher leverage than non-family counterparts. The results support the entrenchment of minority shareholders and the proposition that a high payout signals a reduction in the information asymmetry and level of risk. The study further illustrates that cash dividends tend to reduce the level of risk perceived; however, (cash dividend) leads to the deterioration firm's liquidity and aid in the shrinking of cash among emerging market firms. The originality of the paper lies in factoring ownership concentration while explaining the dividend behaviour from an emerging markets perspective, characterized by high private benefits and weak protection for external minority shareholders.

• Journal of architectural history
• /
• v.22 no.1
• /
• pp.15-27
• /
• 2013

The purpose of this study is to analyze the changing process in the Ddeulzip of Jinsung Lee clan family. The subject of this study is clan family of Jinsung Lee in Andong Cultural Area. The period of Chosun Dynasty is divided into largely three parts. The establishment process for Jinsung Lee's family is analyzed during early (15~16C) and mid(17~18C) periods, and changing process is analyzed during mid(19~20C) and late periods. The characteristics of early Chosun Ddeulzip is that it made a foundation to construct a Ddeulzip form. Those of mid Chosun period is in their strong will to preserve their ancestral house which is well manifested through the restoration of Taegye's ancestral house. During the late Chosun period, many of the different styles of Ddeulzip were constructed due to the stable environment of both political and economical status. The residential house of Jinsung Lee family that were centered in Yean area include diverse forms for both high and middle class social status. Jinsung Lee family's Ddeulzip is thus considered to bring about the firm foundation as a clan family representing the Andong cultural area through the development of Ddeulzip.

• Journal of Information Technology Applications and Management
• /
• v.25 no.3
• /
• pp.1-15
• /
• 2018

This study is to find effects between the level of preparation of factors and the satisfaction of successors. Independent variables are the level of preparations of successors and divided by three detailed type, the level of preparation of management ability, the level preparation of positive succession attitude and the level of preparation of ownership succession. A dependent variable is the satisfaction of successors and a moderating variable is the level of communication between successees and successors. This study was undertaken in South Korea among 59 successors in 59 family firms. A total of 53 samples were available to use for the research. The empirical results indicate that the level of preparation of successors, management ability, positive succession attitude and ownership succession, is associated to the satisfactions of successors. Additionally, the moderating variable has not the relationship to the dependent variable as a moderating variable, but the result showed a strong relationship between the level of communication and the satisfaction of successors.

• Journal of Family Resource Management and Policy Review
• /
• v.13 no.4
• /
• pp.53-72
• /
• 2009

This study examined the effects of job involvement, job stress, and organizational culture on work-life harmonization of Korean employees. The data came from 481 employees in diverse organizations located in Seouland the metropolitan area. Key findings of the study were (a) job involvement was significantly different for different types of occupation and job positions, while job stress was significantly different based on gender, education, income, and the term of service; (b) perceptions of organizational culture by employees varied according to gender, age, position, the period of service, and firm size; (c) the level of work-life harmonization was not significantly different based on gender, age, marital status, education, and income - but it did differ significantly based on types of occupation and firm size; (d) the employee's type of education, job involvement, job stress, and organizational culture have effects on work-life harmonization.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.169-178
• /
• 2021

This research aims to test, firstly, how the disclosure of corporate social responsibility (CSR) helps to moderate the effect of family ownership on investment efficiency; secondly, how CSR disclosures mediate the effect of corporate governance on investment efficiency. STATA was used to analyze archival data collected from a total sample of 210 manufacturing companies listed on the Indonesian Stock Exchange (IDX), which were in the family businesses category for the period of 2016-2018. The first finding is that CSR moderates the effect of family ownership on investment efficiency. This implies that family businesses are very careful about investing. They will avoid risky decisions that may increase the economic wealth, but reduce the socio-emotional wealth. To maintain socio-emotional wealth, they tend to choose an underinvestment strategy and are more concerned with the prestige and good reputation of their families and dynasties than with economic wealth. Thus, CSR disclosures can reduce the underinvestment strategy of family businesses listed on the IDX. The second finding is that CSR disclosures are able to mediate the effect of corporate governance on investment efficiency. CSR activities play a major role in decision-making, and through CSR disclosures, corporate governance has a greater effect on investment efficiency.

• Journal of Digital Convergence
• /
• v.19 no.1
• /
• pp.177-186
• /
• 2021

This study examined the effects of the firm characteristics of the manufacturing industry on the female employment ratio. Three hypotheses regarding female employment ratio, were tested for 5,729 firms that could use financial data among the firms listed on the KOSPI from 2011 to 2019, in terms firm size, listing period, and foreign ownership. Follwing the analyses, three hypotheses were mostly adopted. It was found that as the size firm and foreign ownership ratio increased, the female employment ratio increased in the number of regular and permanent contract employees, fixed-term employees, and total employees. As for the listing period, the higher the value, the lower the female employment ratio in the number of regular and permanent contract employees, fixed-term employees, and total employees. These research results may be used as basic data for gender equal employment policies such as Affirmative Atcion for Gender Equal Employment.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.4
• /
• pp.29-39
• /
• 2020

The purpose of this study is to investigate the determinants of blockholder presence in the Korean stock market. This study examines previous theories and studies, points that previous studies did not examine, and proposes two hypotheses. To verify two hypotheses, fundamental data were collected from firms listed on Korea Exchange from 2005 to 2017. As explanatory variables, we use the factors and characteristics of the firms used in the previous studies. Logistic regression analysis was conducted to test the determinants of blockholder presence. We find that firm size is the most distinctive factor determining the presence of blockholder, and firm idiosyncratic risk is the most similar factor determining the existence of each blockholder. Tobin Q shows significant value in family and government, and R&D intensity appears to be a negative related to the presence of blockholder in financial institutions. We also find that the determinant of blockholder presence differs from the mechanisms that govern each individual blockholder type when all blockholders grouped together. This suggests that there is blockholder heterogeneity within Korea listing firms. Our findings contribute to investors and policy makers who interested in the determinants of the presence of blockholder and blockhoder heterogeneity in Korea stock market.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.4
• /
• pp.187-199
• /
• 2018

This study examined the effects of startup firm's knowledge assets on the effectiveness of their sales strategies, efficiency of sales activities, and management performance, after categorizing these assets into customer knowledge assets and technology knowledge assets. Furthermore, the moderating effects of promotion focus by CEOs and sales managers of startup firms were analyzed. For the analysis, dyadic questionnaire surveys were conducted targeting the CEOs and sales managers of startup firms established at the Gyeongnam Technopark and the KAIST Technology Business Incubation Center in Korea. Hypotheses were verified through structural equation modeling, and moderating effects were identified through ANOVA. CEO's customer knowledge asset strengthened their effectiveness of sales strategies, and sales manager's technology knowledge asset strengthened the efficiency of their sales activities. Also, CEO's effectiveness of sales strategies and sales manager's efficiency of sales activities have been found to enhance startup firm's management performance. Meanwhile, the moderating effect of promotion focus strengthened CEO's effectiveness of sales strategies through CEO's customer knowledge asset and interaction as CEO's promotion focus level increased, but promotion focus of sales managers did not have any significant interaction effect. This study provides implications by offering empirical evidence on startup firms with regard to knowledge assets.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.171-182
• /
• 2020

This research focuses on the importance of corporate social responsibility in building the company's reputation. Experts have studied CSR as an antecedent of a company's reputation, but the mechanisms underlying this process are rarely explored. Therefore, to fill this research gap, we demonstrate CSR's implementation combined with organizational justice based on discrepancy and equity theory. This study involved 210 employees in a family company. The study's analysis method uses Structural Equation Model (SEM), SmartPLS, with a five-step measurement and analysis procedure. The variables in this study are CSR implementation, organizational justice, employee trust, firm reputation, organizational objectiveness, organizational commitment, job satisfaction, and job performance. The results found that some of the direct relationships stated were not significant, but all demonstrations of indirect links were substantial. Besides, optimal CSR and organizational justice provide a reliable and positive domino effect in increasing the role and consequences of employee trust and firm reputation. The findings in this study confirm that upstream-downstream job performance causality can be successfully achieved if job satisfaction has been realized, job satisfaction can be achieved if organizational commitment can also be recognized, and organizational commitment can be developed. Reflection and influence, rather than organizational attractiveness becomes essential.

• Culinary science and hospitality research
• /
• v.9 no.2
• /
• pp.44-63
• /
• 2003

This study is about internet marketing of family restaurant through marketing mix and we found out the way which can make to activate by means of analysis of family restaurant's homepage. This study was done as following precedure. First, we've compared between characteristic was based on contents distinctive quality of family restaurant's homepage through the marketing mix. And in the next step, we've compared and ana lysed homepage of family restaurant which was chosed by the internet surfing. In the last, we evaluate strategy of marketing mix which is going well in the each field of business and then research of the way can improve internet-marketing. We draw the findings which is seperated by goods, price, promotion, distribution, other service according to marketing constituents. As a result of study, it is found that each company has given much more weight on some part in internet marketing's field of activity. In general, they put an emphasis on activity of goods and promotion. On the other hands they don't consider prices and delivery to be important compared with other parts. One of the most important things about internet-marketing is that fast and exact feedback and community makes each firm to be able to help to communicate with customer. It's like off-line-restaurant make use of free-coupon and an anniversary service.