• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• The Journal of the Korea Contents Association
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• v.22 no.8
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• pp.287-296
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• 2022

The purpose of this study is to verify the effect of government subsidies and R&D investment on the increase in profits of Chinese environmental protection companies. The research method for this was empirically analyzed using the Chinese CSMAR database for 161 Chinese environmental protection companies and using statistical data obtained from 805 samples. The analysis results are as follows. First, government subsidies had a positive effect on the increase in profits of Chinese environmental protection companies. Second, government subsidies had a positive effect on R&D investment by Chinese environmental protection companies. Third, R&D investment had a positive effect on the increase in profits of Chinese environmental protection companies. Fourth, R&D investment through government subsidies has a partial mediating effect on the effect on the increase in profits of Chinese environmental protection companies. In this study, based on the results of the study, a plan was proposed to promote the increase in profits of Chinese environmental protection companies by expanding government subsidies to Chinese environmental protection companies and focusing on R&D investment.

• Management & Information Systems Review
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• v.33 no.3
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• pp.21-33
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• 2014

This study investigated the effect of protection of property right on foreign direct investment. With the US. multinational corporations over the periods from 2000 to 2008, this study used the FEM and system GMM, and found that the change of protection of property right level positively affects attracting foreign direct investment while protection of property right level itself does not. In the analyses on high income and low income countries(by income level), only the change of protection of property right level positively affects attracting foreign direct investment in low income countries. In considering the problem of heteroscedasticity on the error term, this study used FGLS and PCSE estimation methods. It is reported that the change of protection of property right level positively affects attracting foreign direct investment while protection of property right level itself does not. And only the change of protection of property right level positively affects attracting foreign direct investment in low income countries. This result means the change of protection of property right level is a key determinant to attract foreign direct investment.

• International Area Studies Review
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• v.13 no.2
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• pp.526-548
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• 2009

Foreign Direct Investment(FDI) has played a vital role in the economic growth of Pakistan. The objective of this paper is to review the literature on the Pakistan's FDI law and explore possibilities for research. We focus on the Foreign Private Investment (Promotion and Protection) Act 1976, Furtherance and Protection of Economic Reforms Act 1992, and Foreign Currency Accounts (Protection) Ordinance 2001. Major concern seems to be frequent change in policies, lack of follow up for effective implementation of the good decisions above all the law.

• Journal of Arbitration Studies
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• v.23 no.3
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• pp.127-147
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• 2013

Korea is, after China, the Asian country with the largest number of concluded investment treaties. One of the protections that Korean investment treaties frequently afford to foreign investors and their investment is the so-called "umbrella clause," which requires the host state of the investment to observe the commitments that it has undertaken toward the foreign investor or its investment. This is a potentially very powerful protection. Umbrella clauses, however, have proven to be amongst the most controversial provisions in investment treaties, giving rise to diverging interpretations by tribunals and commentators that are still not reconciled today.

• Knowledge Management Research
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• v.20 no.3
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• pp.91-106
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• 2019

In the era of the 4th Industrial Revolution, the importance of information protection is increasing day by day with the advent of the 'hyper-connection society', and related government financial investment is also increasing. The source of the government's fiscal investment projects is taxpayers' money. Therefore, the government needs to evaluate the effectiveness and feasibility of the project by comparing the public benefits created by the financial investment projects with the costs required for it. At present, preliminary feasibility study system which evaluates the feasibility of government financial investment projects in Korea has been implemented since 1994, but most of them have been actively carried out only in some fields such as large SOC projects. In this study, we discuss the feasibility evaluation of public projects for the purpose of information security. we introduce the case study of the personal information protection program of Korean public institutions and propose a cost-effectiveness analysis method that can be applied to the feasibility study of the information protection field. Finally, we presented the feasibility study and criteria applicable in the field of information security.

• International Journal of Quality Innovation
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• v.9 no.2
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• pp.57-77
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• 2008

The $21^{st}$ century is a new century of environmental protection. Environmental protection is one of the most important subject matters yet to come. Moreover, as the public pays more attention to environmental problems, enterprises should increase their investment in environmental management. Therefore, determining the investment level for environmental management and allocating the investment to associated environmental management activities has become a major task. The principal and agent theory and sales response functions are used for analysis in this research. The allocation of capital investment in environmental management is found to have significant impact on the aggregate sales response, aggregate profit and investment level. Therefore, in preparing the budget for environmental management, enterprises should focus on investment allocation decisions, determine the investment level and allocation method using integrated means, and apply submarket data in the allocation decision-making process. In other words, in setting the investment level, executive management should take managers' willingness into consideration. In allocating capital investment, managers should identify the optimal allocation method based on submarket characteristics.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.61-78
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• 2013

The purpose of this study is to clarify the standard of fair and equitable treatment. Although most international investment treaties prescribe fair and equitable treatment that is the obligation to provide fair and equitable treatment to foreign investor, there is no clear definition and specific elements of fair and equitable treatment. Through the arbitral award cases we can find that tribunals have interpreted to include six principles; Due process & Protection from denial of justice, Good faith, Reasonableness & Nondiscrimination, Compliance with contractual obligation, Full protection and security, Transparency & Protection of the investor's legitimate expectations. This study suggest that host countries and investors focus on international trends concerning investment disputes in order to avoid future disputes. So future disputes can be prevented and prepared in advance.

• East Asian Economic Review
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• v.16 no.2
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• pp.139-154
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• 2012

This paper provides a theoretical setup for an analysis of strategic relationships inherent to activities of an innovative multinational enterprise (MNE) and a local company in a host country. Additionally, we explore the incentives of the host country's government to provide subsidies to attract foreign direct investment (FDI) and to protect outcomes of R&D activities conducted by the MNE. We show that the MNE's commercial interests may collide with local companies' over protection of IPRs. Therefore, the extent of knowledge spillovers from the MNE to the local company and the magnitude of incentives to the MNE perform a crucial function in determining the optimal policy mix of IPR protection and FDI subsidies of the host country's government.

• Journal of Arbitration Studies
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• v.13 no.2
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• pp.123-156
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• 2004

Settlement of investment disputes is quite different from that of commercial disputes arising from ordinary commercial transactions in view of disputing parties, applicable laws and rules, etc.. Therefore, it is very important to consider the Convention on the Settlement of Investment Disputes between States and Nationals of Other States(Washington Convention) of 1965. The creation of the International Centre for Settlement of Investment Disputes(ICSID), which was established under the Washington Convention, was the belief that an institution specially designed to facilitate the settlement of investment disputes between governments and foreign investors could help to promote increased flows of international investment. Pursuant to the Washington Convention, ICSID provides facilities for the conciliation and arbitration of disputes between member countries and investors who qualify as nationals of other member countries. Recourse to ICSID conciliation and arbitration is entirely voluntary. However, once the parties have consented to arbitration under the Washington Convention, neither can unilaterally withdraw its consent. Moreover, all Contracting States of the Washington Convention are required by the Convention to recognize and enforce ICSID arbitral awards. Provisions on ICSID arbitration are commonly found in investment contracts between governments of member countries and investors from other member countries. Advance consents by governments to submit investment disputes to ICSID arbitration can also be found in many bilateral investment treaties including the Korea-China Agreement on the Encouragement and Reciprocal Protection of Investments(1992), the Korea-Japan Agreement for the Liberalization, Promotion and Protection of Investment(2003) and the Korea-Chile FTA, the latter was signed as of February 15, 2003 and is still pending in the National Assembly for its ratification. Arbitration under the auspices of ICSID is similarly one of the main mechanism for the settlement of investment disputes under the bilateral treaties on investment. Therefore, it is a problem of vital importance that Korean parties interested in investment to foreign countries should understand and cope with the settlement mechanism of investment disputes under the Washington Convention and bilateral investment treaties.