• Fashion & Textile Research Journal
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• v.15 no.1
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• pp.73-83
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• 2013

This study explores the ideal corporate social responsibility(CSR) that fashion consumers expect from a fashion firm in the identification of dimensions and levels of consumer expectations as well as examines the impact of CSR expectations on customer-base brand equity. The data of 315 adults were collected through a nationwide online survey. In order to analyze the data, this study employed Confirmatory factor analysis (CFA), paired t-test, structural equation modeling(SEM), and descriptive analysis. This study first identified seven fashion CSR expectations (environmental, ethical, social, internal management, philanthropic, economic, and legal expectations). Internal management and environmental activities were highly expected from fashion firms; however, economic activity was low in expectations. Five models separately tested the relationship between CSR expectations and brand equity (trustworthiness, attachment, performance, social image, and value). Economic, environmental, internal management, social and ethical CSR expectations influenced customer-based brand equity; however, philanthropic and legal expectations did not influence any dimension of customer-based brand equity. This study provides a framework of ideal CSR from a consumer perspective and suggests that fashion marketers should focus on economic, environmental, internal management, social and ethical CSR activities to meet the expect Haitians of fashion consumers and build stronger brand equity.

• Proceedings of the Korea Contents Association Conference
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• 2006.11a
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• pp.327-332
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• 2006

Entering legal management, shareholders receive some payment. We call this phenomenon the deviations from absolute priority. This study focuses on incremental effect and determinants of equity to shareholders by wealth transfer from creditors to stockholders in the process of legal management. The main results of this study can by summarized as follows. First, the incremental effect of equity to shareholders is common in the sample of this study. The sample contains 46 non-listed firms that filed for legal management and had confirmed their reorganization plans. Second, the results of the regression model analyzing the determinants of incremental equity to shareholders in legal management show that it is negative related to the solvency(total debt/total asset), firm size, and weight of claims for secured creditors and banks significantly. but corporate reorganization period(from filing to confirmation)are not significant.

• Journal of the Korean Institute of Navigation
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• v.16 no.2
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• pp.29-39
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• 1992

According to newly revised Korean Commercial Law, 1991, several amendments on the maritime liens as a special legislative rights duly performed so as to make an equity with mortgates of the ship. Consequently, it is also noteworthy that claimants of the maritime lien should know how to secure their legal rights on the ship. Such a legal practice is performing in accordance with the doctrine and principles of the law of forciable excution without court order. This paper, therefore, intends to study specific legal practice for exercising legal rights on the ship by due process of law.

• The Journal of the Korea Contents Association
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• v.6 no.12
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• pp.244-252
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• 2006

The main results of this study can by summarized as follows. First, the incremental effect of equity to shareholders is common in the sample of this study. The sample contains 46 non-listed firms that filed for legal management and had confirmed their reorganization plans. Second, the results of the regression model analyzing the determinants of incremental equity to shareholders in legal management show that it is negative related to the solvency(total debt/total asset), firm size, and weight of claims for secured creditors and banks significantly. But corporate reorganization period(from filing to confirmation)are not significant.

• Journal of Environmental Policy
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• v.3 no.2
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• pp.59-87
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• 2004

In its Declaration of Principles, the United Nations Conference on Environment and Development recommends that, "to achieve sustainable development and a higher quality of life for all people, states should reduce and eliminate unsustainable patterns of production and consumption...." This notion of sustainability lies at the core of many "commons" problems, where the central issue is to enable "individuals to sustain long-term, productive use of natural resource systems". In other worlds, a common definition of "sustainability" captures the idea of aligning human consumption with the capacity of ecological systems to supply, over a long period of time, such natural resources as air, soil, or water on which production depends. The concept of sustainability raises all sorts of political, social, and economic questions about the distribution of environmental protection. For sustainable community development to be addressed, these questions must be raised. In order to convince different citizenry of the necessity of sustainability, these questions must also be answered. This is where questions of equity, justice, and fairness arise. Sustainability and equity require that we deal with nature as an undivided whole, with no part being unsustainable. Sustainability and social policy also requires that we deal with the human population as an undivided whole. We simply cannot move people around the planet to either perpetuate past practices of earth exploitation or to implement sustainable planning. Everyone must work with the people inhabiting sensitive ecological areas, especially areas of regeneration. In the sustainable global community, we are as strong as our weakest link, or our most toxic community. This is the undeniable driving force for the infusion of equity into the sustainable development debate.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.89-120
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• 2010

In this paper, we analyse empirically the relations between ownership structure and cash holdings of firms listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Cash holdings increase as large shareholder's equity holdings increase. Cash holdings increase as the difference between first largest shareholder's and second largest shareholder's equity holdings increase, and cash holdings increase as the ownership concentration increase. Managerial ownership exert a non-linear effects on cash holdings. So to speak, at lower level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders, but at higher level of managerial ownership, the interests of managers and shareholders are aligned, and also at highest level of managerial ownership, managers hold more cash to pursue their own interests at the expense of minority shareholders. Cash holdings increase larger in owner-controlled firm than in management-controlled firm. These results support the expropriation of minority shareholders hypothesis that large shareholders can extract private benefits from corporate resources under their control at the expense of minority shareholders. This paper contributes to defining information value of large shareholder's equity holdings on cash holdings for a firms' other stakeholders such as investors and creditors, and to strengthening a legal and institutional safeguard for external minority shareholders. Ownership concentration might have negatively affected the evolution of the legal and institutional frameworks for corporate governance and the manner in which economic activity is conducted. It could be a formidable barrier to future policy reform.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.183-192
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• 2020

The purpose of this paper is to investigate the determinants of the Operational Self-Sustainability (OSS) of Vietnamese microfinance institutions (MFIs). This research uses both qualitative and quantitative research methods: (i) qualitative research was via in-depth interviews with ten microfinance practitioners, policymakers and researchers; (ii) quantitative research was conducted by using panel data of 34 MFIs in the period 2011-2015 with binary logistics and OLS regressions. Results are as follows: (i) MFIs' OSS in Vietnam are mainly determined by five key factors: portfolio at risk (PAR>30), capital structure, gross loan portfolio, scope of activities and legal form; (ii) OSS are most affected by legal status (social organizations have better OSS than formal MFIs or programs/projects), location (MFIs focus in one province have higher OSS than working nationwide or just in one district), capital structure (MFIs with more equity proportion have higher OSS); (iii) surprisingly, average loan size per borrower and age of MFIs do not have statistically significant correlation with OSS. The key recommendations are: (i) MFIs should focus on its professionality and increase its equity; (ii) related stakeholders such as State Bank of Vietnam should promote the enabling ecosystem for microfinance development to enhance poverty reduction and economic development.

• Korean Journal of Artificial Intelligence
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• v.9 no.1
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• pp.1-7
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• 2021

In this paper, We focused the issue of creating a socially problematic nurse schedule. The nurse schedule should be prepared in consideration of three shifts, appropriate placement of experienced workers, the fairness of work assignment, and legal work standards. Because of the complex structure of the nurse schedule, which must reflect various requirements, in most hospitals, the nurse in charge writes it by hand with a lot of time and effort. This study attempted to automatically create an optimized nurse schedule based on legal labor standards and fairness. We developed an I/O Q-Learning algorithm-based model based on Python and Web Application for automatic nurse schedule. The model was trained to converge to 100 by creating an Fairness Indicator Score(FIS) that considers Labor Standards Act, Work equity, Work preference. Manual nurse schedules and this model are compared with FIS. This model showed a higher work equity index of 13.31 points, work preference index of 1.52 points, and FIS of 16.38 points. This study was able to automatically generate nurse schedule based on reinforcement Learning. In addition, as a result of creating the nurse schedule of E hospital using this model, it was possible to reduce the time required from 88 hours to 3 hours. If additional supplementation of FIS and reinforcement Learning techniques such as DQN, CNN, Monte Carlo Simulation and AlphaZero additionally utilize a more an optimized model can be developed.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.67-79
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• 2019

This study examines the impact of corporate governance on capital structure decisions based on a large panel of Chinese listed firms. Using the system Generalized Method of Moments (GMM) estimator to control for unobserved heterogeneity, endogeneity, and persistency in capital structure decisions, we document that the ownership structure plays a significant role in determining leverage ratios. More specially, we find that managerial ownership has a positive and significant impact on firms' leverage, consistent with the incentive alignment hypothesis. We also find that managerial ownership only affects the leverage decisions of private firms in the post-2005 split share reform period. State ownership negatively influence leverage decisions implying that SOEs may face fewer restrictions in equity issuance and may receive favourable treatments when applying for seasoned equity ¿nancing, thus use less debt. Furthermore, our results show that while foreign ownership negatively influences leverage decisions, legal person shareholding positively influences firms' leverage decisions only for state controlled firms. We also find that the board structure variables (board size and the proportion of independent directors) do not influence firms' capital structure decisions. Our findings suggest that recent ownership reforms have been successful in terms of providing incentive to managers through managerial shareholdings to take risky financial choices.

• Journal of Environmental Policy
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• v.14 no.2
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• pp.101-131
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• 2015

A cap-and-trade program accounting for 60 percent of total national greenhouse gas emissions was launched in South Korea in 2015. Academic literature expects that the implementation of such a policy is likely to adversely impact income distribution among various socioeconomic groups in developed countries. South Korea is challenged by equity issues, as well circumstances, the distributional implications of carbon pricing policies need to be examined and reflected in the design of the program prior to implementation in order not to exacerbate social inequity. Using environmentally extended input-output analysis together with household expenditure data, this study finds that a carbon pricing policy will be regressive in South Korea, but the extent depends on whether relative burdens of a carbon pricing policy are measured based on current incomes or proxies of permanent incomes. Along with poor households, this paper finds that elderly and urban households will be more adversely impacted in South Korea. These burdens can be relieved if a small fraction of the revenue is redistributed to households.