• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.247-251
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• 2008

There are many stakeholder whose interests against the rest and lots of complex projects in Urban Regeneration. Moreover, there are various communication routes and complex decision making structure because the benefits among stakeholder are conflict. Eventually, the lots of decision making task and complex structure cause inefficiency and delay of Urban Regeneration business. This Is a basic study for establishing decision making governance which help efficient decision making in Urban Regeneration. This study was conducted follow process. Through the analysis the Urban Regeneration process and literature study of "Governance", we characterize the decision making of Urban Regeneration, and based on that character we founded "decision making governance composition". Finally we suggest the "Decision Making Governance System Concept in Urban Regeneration"

• World Technopolis Review
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• v.3 no.1
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• pp.39-54
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• 2014

Recently, investment to basic science has been increased and infrastructure of science and technology has been expanded in developed countries like U.S.A, UK and Japan to foster high-tech industries. Science and research parks are built and under operation to acquire national competitive power and to activate regional economy over the world today. It is argued that more synergy effects are generated when science and research parks are operated in cooperation with related organizations and facilities such as firms, universities, research institutes and governments than it is operated by one organization. The aim of this paper is to develop a governance model of science and research parks. One comprehensive model and three individual governance models were developed according to the structure and relations of industry-science/research park-supporting organization interactions. When governance model of science and research parks is established and properly managed, national development capacity would be greatly enhanced through the acceleration of technology transfer, industrial production rise and enhancement of efficiency in the area of R&D and supporting system etc. One of the key factors in building governance system for science and research parks is establishing a control tower that supervises governance system comprehensively and systematically.

• The Journal of Industrial Distribution & Business
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• v.8 no.1
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• pp.5-13
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• 2017

Purpose - In this article, a dynamic model like a VAR is an appropriate choice for estimating the possible interrelationship between ownership structure and firm performance as a dynamic process. Research design, data, and methodology - Data of this work are collected from Chinese stock exchange including 350 Chinese-listed firms during the period of 1999-2012. We hypothesize that this interrelationship dynamically exists between ownership structure and firm performance. To examine the correlation, a panel Vector Auto-regression (PVAR) approach generated by GMM method is utilized to test the possible dynamic relation embedded in corporate governance. Another two dynamic analysis solutions such as orthogonalized impulse-response function and variance decomposition are also used simultaneously. Results - Findings of this study indicate the evidence that dynamically endogenous relationship exists between ownership structure and firm performance. Further, there is a dynamical correlation between investment and performance. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability. Conclusions - The conclusion in this study is that there is a bidirectional and inter-temporal effect between proportion of ownership and corporate performance for a long run in accordance with impulse response function. Overall, our results suggest that corporate governance in China is more market oriented.

• International Commerce and Information Review
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• v.11 no.2
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• pp.173-201
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• 2009

As a result of overemphasizing the goods sector in trade structure, Korea does not meet properly the global trend which has the key role of 'trade in services' as the service economy have been expanded. Hereafter, it is easily forecasted that trade in services will be one of the main factors for Korea's competitiveness and engine of growth. Nevertheless, because Korea does not equip the concreteness of governance for trade in services, it is possible that the efficiency deterioration of trade volume, confusion of Korea's trade policy, conflict among trading countries, and discordance between the interested parties may be occurred. This paper analyzes the governance system of Korea for trade in services in order to enhance the competitiveness reflecting the importance of trade in services and to draw some strategies for remodeling the service governance system. It is expected to raise the efficiency of Korea's trade policy by constructing the systematic governance for trade in services, and to remove lots of latent risks during global transactions by improving the imbalance between manufacturing and service part for the development of trade in services in Korea. Analysis revealed itself the result that Korea is weak enough to can not identify the governance system about trade in services. Except 'Extent of Services' article of the Foreign Trade Act, Korea has not prepared the governance system for trade in services so that governance system have been scattered overly or decentralized. Problems about trade in services are not limited to enterprise's side, but extended to all the players including government agency whole, academic world and research institute. Therefore, the governance of trade in services should be strengthened and systematized by making the model law for trade in services(provisional name : Master Law for Trade in Services or Promotion Law for Trade in Services) by formatting type of fundamental law or separate legislation. If the bill legislation does not meet the conditions, the Foreign Trade Act should be totally reformed to Omnibus Trade Act concept including trade in services.

• Journal of Navigation and Port Research
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• v.33 no.10
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• pp.743-756
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• 2009

This paper tries to analyze how the governance institutions of the Port Authority of New York and New Jersey overcome agent problems in public agencies based on the Principal-Agent Theory, and find the implications that will be helpful to the governance of port authorities in Korea. The Port Authority's governance is characterized by decentralization of personnel rights, open meetings policy, freedom of information policy, public hearings, and fiscally self-supporting system. Those characteristics are helpful in overcoming the agent problems of public agency, such as adverse selection, moral hazard, and complicated external structure, through reinforcing of monitoring agent by principal, easing of information asymmetry between principal and agent, and clarification of organizational ownership structure. Those characteristics may give many implications for the design of governance structures of port authorities in Korea.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.245-254
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• 2021

This paper examines the impact of corporate governance strength on capital structure in an emerging country, namely, Jordan, by constructing a corporate governance score that captures both internal monitoring mechanisms (foreign ownership and institutional ownership) and external monitoring mechanism (audit fees). In addition, this study uses profitability as control variable. This paper uses data of non-financial companies (industrial and services) of 87 listed firms on Amman Stock Exchange (ASE) from 2011 to 2019. Using the random-effects generalized least square (GLS) regression model, the findings reveal that foreign ownership significantly and negatively influences the level leverage, while institutional ownership has a positive and insignificant association with level leverage. Further, audit fees have a positive and strong significant association with level leverage in Jordan. In addition, profitability has a positive and significant association with leverage. These outcomes suggest that foreign ownership should be encouraged in listed companies as it can replace the weakness of other corporate governance mechanisms in Jordan. The outcomes of the current study should be of great interest to regulators and policy-makers. The results, which are robust to a range of alternative proxies and to additional tests, provide new insights into the determinants of level leverage.

• Journal of Distribution Research
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• v.1 no.1
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• pp.83-107
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• 1996

The concern of external environment is growing up in the field of channel distribution. In the former channel distribution, the channel distribution environment is little bit unmoveable owing to a powerful manufacture control against poor distributor. Therefore intra-efficiency is channel member's core interest. The structure of channel governance, however, come to be changable because of the mature distributor power against manufacturer such as a Price Break, JIT of channel governance, and a serial of change. Accordingly, it is acceptable that the interest of external-environment of channel members' is more and more enlarged, and external-environment change in the channel distribution make the serious problems in intraorganizational system. Thus, it is meaningful that this study try to discover the consumer power as external environment factor and to find the best strategy to overcome this consumer power. Resource dependence theory, Transaction cost theory, Political Economic Approach, and Working partnership Approach are the theory foundation of the reasearch. Apparel franchise is a sample to analyse the hypothesis and correlation and multi-regression are a chief tools to estimate the hypothesis. Thus, the above results imply that a flexible governance is appropriate to consumer power, conflict is not intervening value between consumer power and channel governance, and the channel member's satisfaction can be confirmed in the flexible governance better than control governance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.851-861
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• 2021

The main objective of this study is to examine the government ownership effect on the United Arab Emirates (UAE) firm's corporate social responsibility (CSR). Government ownership is assumed to affect the CSR either directly or indirectly. That is by moderating the association between corporate governance and CSR. Publicly listed companies on the UAE capital markets (Abu Dhabi and Dubai) from 2010-2013 constituted the study sample. Panel data regression analyses and random effect model is used to examine the effects of board size, board independence, and audit committee characteristics on CSR. Government ownership is used as a moderator variable. The result showed that the existence of government ownership has a moderator effect on the association between corporate governance mechanisms and the CSR. Precisely, the research revealed that the audit committee characteristics become more effective in improving the firm's CSR when the government owns shares in the organization. The main contribution of this study is to examine how firm ownership structure influences good corporate governance and CSR in the UAE. The study contributes to the CSR literature by merging between the existence of governmental ownership and the power to enforce the implementation of corporate governance in an emerging country.

• Journal of Distribution Science
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• v.20 no.12
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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.

• Journal of Climate Change Research
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• v.8 no.2
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• pp.99-108
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• 2017

This study aims to analyze the features of adaptation governance of local governments by applying a multi-level governance framework, and to draw policy implications. We analyzed changes in governance of 17 metropolitan cities/provinces, and 33 municipalities in terms of horizontal and vertical cooperation in the process of developing 'The Climate Change Adaptation Action Plan' and its implementation stage. The result shows that the plan contributed to the higher level of vertical cooperation between the central and the local governments to a certain extent, however, during the implementation stage, the level of the partnership decreased due to the absence of governance mechanism. These trends were statistically significant at the level of municipalities. The role of Korea Adaptation Center for Climate Change (KACCC) was also diminished after establishing the plan. The horizontal partnership level among the relevant departments of the local governments showed no significant change as the level was low even in the planning stage. Though Public-Private Partnership (PPP) has increased a bit, it was statistically significant only in the municipalities. Moreover, there was no governance mechanism for PPP or it did not work properly. Based on the results above, it is recommended that the effectiveness of the plans should be increased and support for climate change partnerships or forums at a local level that promotes adaptive capacity is needed. The role of metropolitan cities and provinces should be strengthened through building a multi-level partnership structure. Governance institutionalizing for monitoring and evaluation is also needed.