• Journal of Korean Library and Information Science Society
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• v.49 no.4
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• pp.93-117
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• 2018

KORMARC format for holdings data is a standard for expressing and exchanging holdings information-who they have, what copies are owned, where they are held, etc. As the need of resource sharing grows, such holdings information that informs the user to the availability and the location of a bibliographic item is becoming increasingly important. However the KORMARC format for holdings data has been used much less than KORMARC for bibliographic and authority data, and has attracted little attention from Korean libraries. Under these circumstances, this study intends (1) to analyze various standards for holdings information including MARC21 format for Holdings data (update No.26) and its applications, (2) to investigate the types of holdings data and description regulations used in Korean libraries and bibliographic utilities, and (3) to suggest the revision of existing KORMARC format for holdings data.

• 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.

• The Journal of the Korea Contents Association
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• v.15 no.10
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• pp.597-606
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• 2015

Technology is one of important factors to start-up. Researchers or engineers have led to make start-up, and research based company is one type of technology-based start-up. Technology holding company has made to encourage start-up and support research based company. Research based company was introduced in 2005 according to the Korean related law. In 2014, the number of technology holding companies of university is up to 39, but technology holding company of research institute is only one called ETRI Holdings. ETRI Holdings is a technology holding company to promote technology commercialization that established by ETRI in 2010. This study analysed the financial statements of ETRI Holdings for 5 years, and grasped the status of ETRI Holdings and 15 invested companies, research based companies. According to analysis ETRI Holdings played a role as technology holding company that invested in research based company, but had no virtual circle model until now. Also improvement directions for the management of technology holding company is suggested in this paper based on the analysis of financial statement.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.973-979
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• 2021

The purpose of this paper is to examine the effect of tax planning on firm value of the non-financial firms listed in Vietnam, moderated by the state ownership. In this paper, effective tax rate is used to measure the tax planning; the state ownership is measured by the percentage of state equity holdings, and the firm value is measured by Tobin's Q. The data research is collected from audited financial statements and other statistical documents of 513 firms in the period of 2015-2019, provided by The FiinGroup (Vietnam). According to that, this paper uses quantitative research methods for the panel data. Regression analysis with GLS shows that the tax planning has a negative effect on firm value. In more detail, the association is not a variable in its direction when state ownership takes the role of a moderator. That means, in the perspective of principal-principal conflict, government should improve institutional environment to prevent firms form breaking the rules, especially accounting standards and principles. Assets allocation in tangible assets or making use of large size advantage should be taken into account. In the long run, firms should concentrate on the deployment of resources and the experience of knowledgeable practitioners to produce effective results.