• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.45-73
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• 2007

The empirical results are summarized as follows : First, In relation to effects of ownership structure on firm value, there is the non-linear relationship between major(and foreign) shareholder's holdings and firm value. So the results(the compromise hypothesis) by prior researches(Morck et al. 1988 and so forth) is supported. However Institutional shareholder's holdings do not show the significant results. Second, In relation to effects of outside directors on firm value, equally the results of prior researches(Vafeas 2000, Choi et al. 2004), the higher the ratio of outside directors in the board, the higher firm value. Also there is the non-linear relationship between outside directors ratio and firm value. Furthermore, the higher the possibility of outside directors election in the board, the higher the relationship between ownership structure and firm value. As the economic importance of KOSDAQ is more increase, the researches of KOSDAQ should be more realized.

• Journal of the Korea Society of Computer and Information
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• v.27 no.1
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• pp.183-191
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• 2022

The Korea Stewardship Code 'Principles on the Fiduciary Responsibilities of Institutional Investors' was introduced in 2016 and the National Pension Service adopted it in 2018. the National Pension Service casted 'dessent' vote on the agenda which is able to reduce the ownership interest of shareholder in general meeting. This paper examines whether 'dissent' voting affected on the ownership interest of shareholder or not. The 'dissent' vote on the agenda are related to revision artical of corperation, appointment or compensation of director and auditor, approval of financial statements ect. The proxies of earnings management is discretionary accruals calculated by modified Jones model. The control variablies are size of assets, liabilities per assets, returns on assets. The results of this study are as followings. First, the 'dissent' voting on the agenda are related to revision artical of corperation, M&A, approval of financial statements ect. are not significant because their sample size is too small, Second, the 'dissent' voting on appointment of director and auditor affected on reduction of discretionary accruals. So the National Pension Service activism shall affect on increasing the ownership interest of shareholder. Third, the 'dissent' voting on compensation of director and auditor is not affected on reduction of discretionary accruals. This results show that 'unconditional dissent voting' on the agenda in general meeting is not to reduce the ownership interest of shareholder.

• The Journal of the Korea Contents Association
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• v.15 no.6
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• pp.445-454
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• 2015

The purpose of this study is to analyze the influence of the financial structure of pharmaceutical companies on R&D investment. 358 pharmaceutical firms listed in the KOSDAQ market from 2000 to 2012. Financial statements and comments in general and internal transactions were extracted from TS-2000 of the Korea Listed Company Association (KLCA), and data related to stock price was extracted from KISVALUE-III of NICE Information Service Co., Ltd. STATA 12.0 was used as the statistical package for panel analysis. The summary of the findings and the interpretation of the significance of this are as follows: First, the shareholding ratio of major shareholders and foreigners had a positive influence on R&D investment. Second, the ratio of outside directors had a negative influence on R&D investment. Third, the shareholding ratio of institutional investors did not have a significant influence on R&D investment.

• The Journal of the Korea Contents Association
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• v.22 no.4
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• pp.314-323
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• 2022

This study examines the effecs of National Pension Service blockholders on accounting conservatism. The sample consists of 10,117 non-banking firm-years listed in Korea Stock Exchange(KOSPI) during the period 2011 to 2018. The results of this study are as follows. First, it was found that companies in which the National Pension Service as a major shareholder hold more than 5% of the shares are less prone to conservative accounting treatment than those that do not. Second, such a negative relationship between investment by the National Pension Service and conservative accounting was consistently found even when the investment period of the National Pension Service was divided into short-term (less than 1 year) and long-term (more than 3 years). It is expected that the National Pension Service, the largest institutional investor in Korea, will be able to carry out meaningful management control activities on investment companies. As the monitoring function of the National Pension Service works effectively in the capital market, agency costs are reduced, and investors' demands for corporate conservative accounting have decreased.

• Journal of Cadastre & Land InformatiX
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• v.46 no.2
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• pp.107-122
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• 2016

This paper examines the problems of officetel management and tests three types of hy-pothesis; use of officetel, the numbers of officetel, and ownership period to derive the efficient management in officetel as typical profitable real estate using survey data of officetel management satisfaction in Teheranro, Seoul. The problems classifies institutional inertia and lacks of management mind. This paper approaches to the internal and external problem concerning management from the viewpoint of actual owners getting out of fragmental investment value and investigates management solutions in the cost as well as institution aspect.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.59-69
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• 2020

This study investigates the influence of individual blockholder on accounting quality. Prior studies investigating Korean blockholders' influence focus on the influence of controlling shareholders or institutional investors; however, they rarely examine individual blockholders' influence. This paper investigates how individual blockholders in Korean stock markets affect accounting quality of firms listed in Korean Stock Exchange. I analyze individual blockholders' influence on proxies of accounting quality using multivariate regression with hand-collected individual blockholder data. Korean law requires public firms to disclose the list of shareholders having no less than 5% of ownership. From the list of blockholders, individuals who have no explicit personal relation with controlling shareholders were classified as individual blockholders. My empirical results show that firms having individual blockholder(s) use more income-decreasing accruals than those having no individual blockholder. Furthermore, accounting information of firms having individual blockholders(s) is more conservative than that of firms having no individual blockholders. However, the presence of individual blockholder increases the tendency of loss avoidance and earnings management using overproduction and reduction of discretionary expenditure. This paper contributes to the literature by presenting the first evidence of the monitoring role of an individual blockholder on financial reporting of firms listed in the Korean stock markets.

• Journal of the Korean housing association
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• v.26 no.6
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• pp.115-126
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• 2015

Using the 2013 Korea Housing Survey, this research analyzed factors influencing residential satisfaction of low-income households concerning the economic condition, satisfaction about interior and exterior environments in dwelling, recognition of housing welfare policy. The economic condition showed that if there are less living expenses and more ordinary income, it brought about more positive effects in the ownership of a detached house, row and multi-family house. Most variables about satisfaction with the interior environment in dwelling have a significant influence on a detached house, apartment, row and multi-family house. The following factors played a significant role: accessibility to commercial facilities, neighborhood relationship and natural environment in the satisfaction with the exterior environment in dwelling about most types. Specifically, from an institutional perspective of housing welfare policy, the effect of the housing expenses support and the intention about remodeling were factors influencing residential satisfaction in cheonsei and monthly rent, free of a detached house and free of an apartment. These results will utilize preliminary data to establish housing welfare policy for low-income households.

• Journal of Preventive Medicine and Public Health
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• v.20 no.1 s.21
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• pp.56-66
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• 1987

Information on productivity of hospital personnel is required for optimum staffing and hospital management. This study deals with the quantitative aspects of workload of medical personnel in training hospitals by their specific characteristics. Specifically this study attempted to find relevant determinants of the productivity of medical personnel using multiple stepwise regression analysis based on data obtained from 135 training hospitals. The findings of this study were as follows: 1) Daily average number of outpatients and inpatients treated by a physician were 20.4 and 10.2, respectively. 2) Daily average number of patients cared by a nurse was 8.2. Daily average number of tests performed by pathologic technician and radiologic technician were 83.2 and 21.5, respectively. 3) Productivity of medical personnel were significantly different for the three groups of factors: hospital sire (number of beds, number of medical personnel per 100 beds): institutional characteristics (medical school affiliation, training type, profit status); and environmental factors (location, number of physician and beds per 1,000 population in the region). 4) The factors a(footing the productivity varied according to the types of medical profession: the number if beds, the number of physicians per 100 beds, training type, and profit status for physicians; the number of nurses per 100 beds, the number of beds, medical school affiliation for nurses; the number of physicians per 100 beds, the number of technicians per 100 beds, and ownership for pathologic technicians; the number o( technicians, training type, and the number of physicians per 100 beds for radiologic technician.

• Journal of Korean Medical classics
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• v.33 no.3
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• pp.63-89
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• 2020

Objectives : To suggest conditions that will allow for change in Traditional Korean Medicine (TKM) curricula through analysis of the failure of widespread acceptance of the integrated curriculum into all Traditional Medicine Colleges. Methods : First, the process of change between TKM education and medical education was compared. Next, the conditions that would stimulate change in TKM curricula were analyzed in three levels: structure, policy, and actor. Results : TKM colleges have not experienced a structural change from the six-year to four-year structure. The accreditation standards of TKM education (KAS2021) should be more supportive instead of forcing change, and the goals should be reset to education improvement instead of meeting the standards of WFME. The deans' leadership and professors' ownership over their subjects need to be modified. A group of professionals that could lead change is required, while other factors such as full-time professorships, clinical practice hours, obligatory teaching hours and overall teaching environment need to be improved. Conclusions : It would be ideal if individual TKM colleges created success models of curricula change-despite the time and effort that is required-that could spread to other colleges. After the new curriculum has been accepted in more that half of the total eleven TKM colleges, an institutional isomorphism can be demanded.

• The Korean Journal of Health Service Management
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• v.5 no.1
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• pp.133-145
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• 2011

The purpose of this study is to analyze the influence of external environment, organizational characteristics on informatization level in hospital settings, and to provide suggestions to improve the informatizaiton level of strategic information system of hospitals. In order to achieve study purpose, causal model was developed and empirically tested. Data were collected from 716 managers of 89 hospitals keeping information system in Busan and KyungNam Province using self-administered structured questionnaire. Major results of this study were as follows; First, among hospitals which had information training programs, informatization capacity was significantly higher. Moreover, informatization capacity was significantly varied by ownership type, institutional level, and number of beds of hospitals. Second, environmental uncertainty, intra-industry competition intensity, decision-making concentration, work standardization variables and perceived benefits were found to be significant affecting factors on informatization capacity as a result of path analysis. Third, support of top-management and perceived benefits were found to be significant affecting factors on informatization capability as a result of path analysis. Especially, informatization capability was positively affected by informatization capacity. Finally, perceived benefits was found to be significant affecting factors on informatization competency as a result of path analysis. Especially, informatization competency was positively affected by informatization capability.