• Management & Information Systems Review
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• v.28 no.2
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• pp.113-134
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• 2009

The purpose of this paper is to investigate the relationship between foreign ownership and firm value. Based on the sample of 3,398 firm-year observations in the period of 2000 to 2007, we find evidence that foreign ownership is positively associated with firm value measured by the market-to-book ratio. In addition, we employ simultaneous equation system where both foreign ownership and firm value are treated as endogenous variables. Simultaneous regression models indicate that the foreign ownership affects firm value, but not vice versa. The positive effects of foreign ownership on firm value result from monitoring and disciplining roles played by foreign investors. Many Korean firms have been run by an owner-manager while monitoring provided by institutional equity holders has been limited. Therefore, Korean firms are expected to suffer from more severe agency costs caused by the conflicts of interest between owner-managers and outside investors. Our empirical results support the notion that foreign investors play an important role in enhancing corporate transparency and improving corporate governance.

• The Korean Society of Law and Medicine
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• v.11 no.1
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• pp.199-239
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• 2010

In 2008, the Korean Supreme Court came across a plaintiff's claim to return his deceased father who had left family more than four decades ago and lived with another spouse(de facto) in the meantime to be buried after death in a cemetery of his own choice. The major opinion decided to approve the claim, on the ground that the first legitimate son should be the "head worshiper" prescribed in the article 1008-3 of the Korean Civil Code and that the corpse belong to the head woshiper, i. e. the head woshiper has a special "limited ownership" over the corpse for the purpose of its burial and worship, adding that a deceased's disposition inter vivos, if any, be only ethically but by no means legally binding others, including the head worshiper of course. Here scrutinized are the historical developments starting from the Roman criminal law of sepulchri violatio(trespass to grave) through the Canon law of the Middle Age and the doctrinal reactions to the challenges of anatomy and surgery to the formation of the "supporting the deceased" theory in Germany as well as the similarities in other european continental countries(Switzerland, Austria and France). The comparative review shows that the right of remaining family could neither be identified as limited "ownership" nor that the controversy over a corpse be solved by exclusively attributing/distributing it to one/some of the descendants. In principle, the question should be approached in the extension of family support.

• Korean journal of communication and information
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• v.56
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• pp.71-85
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• 2011

This thesis reviews the process in which the regulation systems against ownership concentration of newspapers established with the opportunity of legislation of the periodical act in 1987 was reinforced as they were all amended to the newspaper act in 2005 and as they were again amended in 2009 it came to confront crisis in the aspect of press law legislation history. The regulation systems against ownership concentration of newspapers established based on the principle of legality of newspaper function in the Clause 3, the Article 21 of Constitution was reinforced as the newspaper act in 2005 and in 2006 they began to shrink following the Constitution Court decision against newspaper act. As newspaper act and broadcast act are revised in 2009, regulation against combining the management of newspapers with broadcast and regulation against owning multiple number of newspapers came not to exist. Because in this process, the opposition party also allowed limited cross-ownership of newspaper and broadcast, it can be said that the system of newspaper ownership regulation confronted the crisis of dissolution. The instruction of regulation alleviation in a short period of time in spite of the fact that regulation alleviation which allows cross-ownership of newspaper and broadcast is the matter of policy that should be decided after long-term review of the change of media environment and the progress of the power of domination of public opinion is dangerous. Newspapers are strong media with terrestrial broadcast in formation of public opinion on politics. It's because it is difficult to ignore the worry that the power of domination of public opinion of the newspapers which are in oligopoly of newspaper public opinion market can be spreaded to the territory of report broadcast. From the point of view that there is probability for democracy to be ultimately threatened due to the shrink of political Darwinism caused by concentration of media ownership, the alleviation of ownership concentration of newspapers should have premise of long-term social discussion.

• Strategy21
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• s.31
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• pp.164-189
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• 2013

Last December, the Abe government came back, and it is critical core of Northeast Asia. They visited to Yasukuni Shrine, denied to Korea's invasion and they are denying all of their invasion history. I'm afraid they want to take Dokdo. Dokdo is Korean territory, but Japan politics assert it belongs to them. To make matters worse, they are waiting an opportunity to invade. Ministry of Foreign Affair blue paper and Ministry of Defense white paper have claimed Dokdo as Japanese territory, and many right wing politicians are taking part in the Cabinet. Liberal Democratic Party of Japan is becoming more right wing politicians than before by Japan Restoration Party, and the others also have more right wing ideologies. It can't control Japan right wing political parties. They finally aim to take Dokdo. In this situation, we have to defend Dokdo. Japan must be very important partner for our nation's development. But it is necessary to trust between two countries. Dokdo is effective controlled by Korea. It is the best way how to keep Dokdo. During Dokdo is effective controlled by Korea, the Japanese Government has limited Dokdo's ownership. Now we don't have any way to keep Dokdo except more effective control. We have strategies about Japanese claim of Dokdo's ownership as follows. First, we can overpower Japan right wing politics as Japan conscientious force's ideology. Second, Japan politics say to Dokdo's ownership is based on The San Francisco Treaty. But it is not right. Third, we have to exchange a lot of local government and civic society in Japan. Finally, we must prepare thoroughly to bring the matter to the International Court of Justice.

• Korea Journal of Hospital Management
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• v.12 no.1
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• pp.100-127
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• 2007

The purpose of this study is to reform the productive industrial relations in hospital. Because the industrial relations of hospital is antagonistic each other and this problem cause a low productivity. In Korea, hospitals maintain their ownership structure, strategy is controlled by government, short process of management, and culture of grade. The executive of hospital doesn't gain the confidence of union. This circumstances is related with the antagonistic industrial relations. This research is to analyze hospital management system through experiential and literature study, and is to present a reform strategies for cooperative industrial relations of improving productivity in hospital. As a results, if the hospital manager hopes to improve productivity, they should introduce expert management system rather than ownership and management system. And it is need to execute the hospital initiative strategy rather than to depend on the government. Moreover, the hospital can achieve productive industrial relations as a middle-long term visions in management process and horizontal organization culture. Although this study is limited by literature research, it will contribute to settle productive industrial relations in hospital and to accomplish the additional study.

• Land and Housing Review
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• v.2 no.3
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• pp.217-226
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• 2011

The Seoul Metropolitan Government is striving to minimize the amount of traffic according to the supply of apartment houses along with the solution of housing shortage for the low income people through high density development near the subway area. Therefore, a stronger policy is necessary to control the traffic of the passenger cars in a subway area for the successful high density development focusing on public transportation, and especially, the estimation of the demand of cars with high reliability is necessary to control the demand of parking such as the limited supply of parking lot. Accordingly, this study developed car ownership forecasting model using Look-up Table among category analyses which are easy to be applied and have high reliability. The estimation method using Look-up-Table is possible to be applied to both measurable and immeasurable types, easy to accumulate data, and features the flexible responding depending on the changes of conditions. This study established Look-up-Table model through the survey of geographical location, the scale of housing, the accessible distance to a subway station and to a bus station, the number of bus routes, and the number of car owned with data regarding 242 blocks in Seoul City as subjects.

• Proceedings of the KSR Conference
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• 2011.05a
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• pp.1134-1141
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• 2011

Costs have long since become a major issue in railway system analysis, attention is not limited to the acquisition costs alone, but encompasses all costs involved in the use and disposal of the systems. Concepts such as Life Cycle Cost(LCC), Costs Of Ownership(COO), or Total Ownership Cost(TOC) are more and more frequent in any document dealing with system analysis. Most of railway projects have applied this LCC Model to evaluate effectiveness of system acquisition cost. But these action of LCC model does not applied all the rest of system life cycle period due to the differences of its responsibility. This is why a study has been undertaken by the operation party to harmonize the most important aspects of the LCC model. This study focused on these and other objectives for introduction of method and needs for an action plan for maintenance actions involved relevant cost allocation.

• Korean Business Review
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• v.11
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• pp.195-216
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• 1998

Ownership of an asset can be identified with the right to exercise "residual control" where the contract is silent about decision rights, or with the right to receive any "residual returns" that remain after contractual. obligations are fulfilled. Although the concept of "ownership" seems reasonably clear in many of the cases, the concepts of residual control and the residual returns that define ownership are actually quite elusive. For large corporations, there is really no single individual who owns both the residual returns and the residual control. Despite the limited qualifications, ownership is clearly. the most common and effective meas to motivate people to create, maintain, and improve the value of assets. In this paper, we try to clarify the relationships among financial structure, ownership, and corporate control with the concept of ownership defined as the residual control and the residual returns, Financial securities are not just claims to part of a firm's net income. They give the security holder certain rights. A careful matching of rights of control and returns can create incentives that increase total value of the firms. In the corporate firms, managers, lenders, and shareholders have different interests. And the financial structure affects how different those interests are and what decisions management will make. Managers are, in general, better informed than investors about the firm's prospects. The financial decisions by managers may affect investors' beliefs and, therefore, the price of shares and the value of the firm.

• Journal of Technology Innovation
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• v.22 no.2
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• pp.105-129
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• 2014

In order to identify the antecedents of organization's exploration activities, this study focuses on internal factors. There are many theoretical and empirical studies for an organization's exploration activities, while the research on antecedents is limited. This study is aimed at the manufacturing industry in Korea from 1998 to 2012 using data from 15 years of slack, ownership structure, and TMT diversity. The study examined the impact of these firm-specific factors on firm's exploration activities. As a result, a company's exploration activities and slack have positive relationship. Between insider ownership and exploration activities, the hypothesis was not supported. Also, the relationship between TMT diversity and exploration activities was dismissed. Finally, based on the results of this analysis, the contribution of this study, limitations and implications are drawn.

• World Technopolis Review
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• v.3 no.3
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• pp.139-152
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• 2014

The current transportation regime is largely based on two alternatives: (1) fixed route public transit, and (2) private ownership of internal combustion engine (ICE) powered vehicles per households. This paper analyzes one possible transportation alternative, Micro Electric Vehicles or MEVs, and compares with the ICE vehicles in terms of social, economic and environmental benefits, especially emphasizing its environmental advantage over ICE vehicles for future sustainability. While some representative models of MEVs exist in a limited market capacity, but global technical standards are generally insufficient and non-homogenous across nations, which restricts the development of the proposed transportation sector. The focus of this paper is to analyze the characteristics and potential benefits of MEVs in economical and environmental perspectives, including development status and technical standards, with a particular focus in the E.U., the U.S., Japan, and Korea. Based on the data of analysis, this paper aims to derive and propose a cooperative and adaptive global policy framework designed to speed up adoption and expansion of the global MEV market, including passenger and utility vehicles. We propose MEV to be a new mobility segment in the global transportation market because of their advantage in environmental impact, sustainability, overall cost of ownership, and safety.