• Journal of the Korea Safety Management & Science
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• v.5 no.1
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• pp.143-162
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• 2003

The governance structure of corporate is very important to raise the nation's economic efficiency and the operation result of firm. However, the innovation of corporate governance structure is a important problem to improve international confidence in our country, since most large corporate in our country has a promodern governance structure to be influenced in decision making of corporate group by minority governance-shareholder. Therefore, in our country the improvement of corporate governance structure is very urgent. This study examine the improvement device of corporate governance structure to be introduced in our country, and present the improvement direction to be suitable to our country's economic circumstance.

• World Technopolis Review
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• v.5 no.2
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• pp.108-118
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• 2016

There are very few studies on governance structure for the collaboration between HEIs and science and technology parks until today. Major activities between science parks and HEIs are R&D activities, collaborative researches, technology transfer, space provision for BIs and Technology BIs in the science parks, provision of technical, legal and financial services for start-ups and venture firms. Governance structure for the collaboration of high education institutes with science and technology parks is the handling of complexity and management of dynamic flows of collaboration between two groups. Three models on the governance structure for the collaboration are suggested in this study. The first model is a governance structure that links R&D system such as universities, public research institutes and private research institutes with industrial production cluster such as a group of companies and industrial parks. The second model is a governance structure that has four layers of hierarchy. This hierarchical governance model is composed of four levels of organizations such as central government, three actors, one center for collaboration and many individual research performers. The third model is a governance structure that networks all the stakeholders horizontally. Under this structure, governance is conducted by the network members with no separate and unique governance entity.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.85-93
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• 2020

The research objective examines the effect of corporate governance on capital structure and its effect on liquidity policy and corporate performance. It tests the effect of capital structure and liquidity policy on corporate governance. It also examines the effect of liquidity policy on capital structure and the effect of capital structure on liquidity policy. The study population is all manufacturing companies that went public on the Indonesia Stock Exchange in the period 2010-2019. The research population is 182 manufacturing companies. The Judgment Sampling was used and 109 companies meet the research criteria. The study used panel data for ten years so that the amount of data observed was 1090 observations. The analysis tool uses Warp Partial Least Square (WarpPLS). The results showed that corporate governance had a significant positive effect on capital structure, but corporate governance had a significant adverse effect on liquidity policy, and corporate governance had a significant positive effect on corporate performance. Furthermore, capital structure has a significant negative effect on corporate performance, but liquidity policy has no significant effect on corporate performance. Capital structure and liquidity policy are proven to be reciprocally significant positive correlations for manufacturing companies in Indonesia.

• Journal of Digital Convergence
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• v.7 no.4
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• pp.169-180
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• 2009

IT governance implies a system in which all stakeholders with a given organization, including the board, internal customers, and related areas such as finance provide the necessary input into their decision-making process. However, the concepts of IT governance are broad and ambiguous, so IT governance is eventually needed multi-criteria decision making. This paper presents a hierarchical structure to better understand the relationship between control structure and the complexity of collective behavior with respect to IT governance and proposes a corresponding fuzzy model for analyzing IT governance complexity based on an extensive literature review. The results of this study are expected to provide a clearer understanding of how the concerns of IT governance behave and how they interact and form the collective behavior of the entire system.

• Information Systems Review
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• v.9 no.2
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• pp.1-14
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• 2007

The structure chosen to govern knowledge transfer in Inter Organizational Relationship(IOR) is often argued to be critical to the success of IOR. However, little research is done on the effective governance structure for knowledge transfer in global Business Process Outsourcing(BPO). The objective of this study is to explore the effective governance structure for knowledge transfer in IT intensive global BPO. Ground theory building methodology is used for this study. First, a generic framework on governance structure for knowledge transfer is derived from extant literature. The framework consists of potentially important constructs to study the governance mechanism for knowledge transfer. For the governance mechanism, this study focused on hierarchy/market structure, formal/informal control mechanisms and information systems. For knowledge type, the study focuses on sensitive knowledge, codifiable knowledge and non codifiable knowledge. This framework is applied to case analyses of two firms to explore effective governance mechanism to transfer each type of knowledge. As results of this study, pertinent propositions for future academic inquiry are derived.

• Journal of Digital Convergence
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• v.11 no.4
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• pp.25-33
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• 2013

In this paper, various definitions of IT Governance and its elements are reviewed. It seems that generally, there is no big difference in definitions and the elements of IT Governance among researchers. However, it is found that some variables which are not appropriate for its definition were used in many IT Governance research. It is also found that IT Governance research in foreign countries have been focused on structure, process, and relational mechanism. I think that the primary goal of IT Governance should be building an effective IT management system. If desirable structure and principles for IT management are established and observed strictly, we can expect desirable behavior in IT management. As a result, expected outcomes and benefits through IT investment could be possibly realized. Therefore, IT Governance research should be focused on building IT Governance systems. This paper suggests a framework for the future IT Governance research.

• Journal of Information Technology Services
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• v.21 no.5
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• pp.15-28
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• 2022

Recently, government agencies are actively adopting the platform model as a means of public policy. However, existing studies on the public platform are minimal and have focused on user experiences or the possibility of public usage of the platform model. Now the research concerning building governance structure and utilizing network effects of the platform after adopting the platform model in the public sector is keenly required. This study intended to ignite academic dialogue on the governance of public platforms in the context of digital transformation. This study focused on a case of the 'Special delivery,' a public delivery app established by Gyeonggi-do. In order to analyze the characteristics of the public platform and its governance structure, data were collected from press releases, policy reports, and news articles. Data was analyzed using the frame of Hagui's platform design factors and Ansell & Gash's collaborative governance model. The results of the public platform analyses showed 1) incompleteness in the value trade-off accounting, which was designed for platform business based on general cost-benefit analysis, and 2) a closed governance structure that limits direct participation of diverse user groups(i.e., service provider, customer) in order to enhance providers' utility by preventing customers' excessive online activities. The results of this study provided theoretical and policy implications regarding designing the strategy for accounting for value trade-offs and functioning governance structure for public platforms.

• Journal of Distribution Science
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• v.14 no.12
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• pp.129-139
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• 2016

Purpose - This paper examines the explanatory power of the agency theory in the determination of cash holdings for Korean retail firms. If the agency theory holds, a firm with strong corporate governance structure tends to have low cash holdings. A strong governance structure makes the CEO of this firm to behave in the interests of shareholders and thus the CEO has low incentive to stockpile cash holdings, which can be easily diverted for the CEO's own managerial purposes. We investigate this relationship between corporate governance structure and cash holdings, by using corporate governance scores as a proxy variable that captures the effectiveness of corporate governance mechanism. Research design, data, and methodology - We adopt the sample of publicly listed retail firms in KOSPI market from 2005 to 2013. Financial and accounting statements are gathered from the WISEfn database. We also use the corporate governance scores published by Korean Corporate Governance Service. The relationship between the corporate governance scores and cash holdings is cross-sectionally estimated based on the ordinary least square method. This estimation method is widely accepted in the existing literature. The sample of large conglomerates, Chebol, and the remainder firms are separately examined as well, to account for the distinctive internal financing environment in these large conglomerates. Results - We mainly contribute to the extant literature by providing empirical evidence against the agency theory of cash policy. Unlike the prediction of agency theory, we confirm statistically insignificant or even positive correlations between the set of corporate governance scores and cash-asset ratios. Almost all the major corporate governance attributes including total score, shareholder rights, board structure, and the quality of information disclosure do not show negative correlations with cash holdings, which poses a strong challenge to the validity of the agency theory in the determination of retail firms' cash holdings. Conclusions - This study presents interesting empirical results with respect to the cash policy in Korean retail firms. Consistent to prior studies, I verify that the agency theory only limitedly explains the level of cash holdings. Future studies may obtain more robust results by examining a longer sample period.

• Journal of Information Technology Services
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• v.18 no.4
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• pp.171-190
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• 2019

This study comparatively analyzes the cases of CDMA (Code Division Multiple Access) and WIPI (Wireless Internet Platform for Interoperability) to find out the success and failure factors of technology policies in the field of mobile communication industry. For this purpose, the two cases are analyzed through a new analysis framework, which is made by combining System of Innovation with a range of variables derived from precedent studies, such as external environment, institutions, technological system, governance structure, and interactions of actors. The results of analysis show that in the CDMA case, the following factors led to success ; Korea made good use of the external opportunities in the early stage of digital communication technology and adopted a suitable governance structure for the technological system. Main actors in Innovation System had strong will for success and engaged in cooperative interaction. For the WIPI, however, the timing of technology policy was inappropriate and a unsuitable governance structure for technological system was chosen because of path dependence. The Innovation System failded to respond efficiently to the situation where conflicts among actors had intensified, US trade pressure had increased and innovative smartphones emerged. The results of this study provide the practical implications for the success of technology policy; namely it is important to choose a governance structure that suits the external environment and characteristics of technology and to activate cooperative interactions among actors in Innovation System.

• Journal of Distribution Science
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• v.12 no.8
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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.