• KDI Journal of Economic Policy
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• v.31 no.1
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• pp.71-103
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• 2009

Considering the expenditure size of public institutions centering on public enterprises, about 28% of Korea's GDP in 2007, public institutions have significant influence on the Korean economy. However, still in the new government, there are voices of criticism about the need of constant reform on public enterprises due to their irresponsible management impeding national competitiveness. Especially, political controversy over appointment of executives such as CEOs of public enterprises has caused the distrust of the people. As one of various reform measures for public enterprises, this study analyzes the effect of internal governance structure of public enterprises on their managerial performance, since, regardless of privatization of public enterprises, improving the governance structure of public enterprises is a matter of great importance. There are only a few prior researches focusing on the governance structure and managerial performance of public enterprises compared to those of private enterprises. Most of prior researches studied the relationship between parachuting employment of CEO and managerial performance, and concluded that parachuting produces negative effect on managerial performance. However, different from the results of such researches, recent studies suggest that there is no relationship between employment type of CEOs and managerial performance in public enterprises. This study is distinguished from prior researches in view of following. First, prior researches focused on the relationship between employment type of public enterprises' CEOs and managerial performance. However, in addition to this, this study analyzes the relationship of internal auditors and managerial performance. Second, unlike prior researches studying the relationship between employment type of public corporations' CEOs and managerial performance with an emphasis on parachuting employment, this study researches impact of employment type as well as expertise of CEOs and internal auditors on managerial performance. Third, prior researchers mainly used non-financial indicators from various samples. However, this study eliminated subjectivity of researchers by analyzing public enterprises designated by the government and their financial statements, which were externally audited and inspected. In this study, regression analysis is applied in analyzing the relationship of independence and expertise of public enterprises' CEOs and internal auditors and managerial performance in the same year. Financial information from 2003 to 2007 of 24 public enterprises, which are designated by the government, and their personnel information from the board of directors are used as samples. Independence of CEOs is identified by dividing CEOs into persons from the same public enterprise and persons from other organization, and independence of internal auditors is determined by classifying them into two groups, people from academic field, economic world, and civic groups, and people from political community, government ministries, and military. Also, expertise of CEOs and internal auditors is divided into business expertise and financial expertise. As control variables, this study applied foundation year, asset size, government subsidies as a proportion to corporate earnings, and dummy variables by year. Analysis showed that there is significantly positive relationship between independence and financial expertise of internal auditors and managerial performance. In addition, although business expertise and financial expertise of CEOs were not statistically significant, they have positive relationship with managerial performance. However, unlike a general idea, independence of CEOs is not statistically significant, but it is negatively related to managerial performance. Contrary to general concerns, it seems that the impact of independence of public enterprises' CEOs on managerial performance has slightly decreased. Instead, it explains that expertise of public enterprises' CEOs and internal auditors plays more important role in managerial performance rather than their independence. Meanwhile, there are limitations in this study as follows. First, in contrast to private enterprises, public enterprises simultaneously pursue publicness and entrepreneurship. However, this study focuses on entrepreneurship, excluding considerations on publicness of public enterprises. Second, public enterprises in this study are limited to those in the central government. Accordingly, it should be carefully considered when the result of this study is applied to public enterprises in local governments. Finally, this study excludes factors related to transparency and democracy issues which are raised in appointment process of executives of public enterprises, as it may cause the issue of subjectivity of researchers.

• Journal of Digital Convergence
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• v.1 no.1
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• pp.147-164
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• 2003

The use of electronic mail and messenger software tools has been increased rapidly over a decade. Compared to the variety of research related to the relationship between personal psychological traits and communication modes, effects of human psychology on online activities have only recently become a focus of interest. This research analyzed the relationship between personal psychological type and online connectivity. We employed network analysis methodology and collected and analyzed data from 146 subjects. Significant differences in network measures were found among groups with different psychological style. Findings of the research can provide several implications for managerial activities regarding social connectivity.

• Korea Journal of Hospital Management
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• v.4 no.2
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• pp.305-329
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• 1999

Financial ratio indicators of the 46 sample hospitals provided by the Korea Health Industry Development Institute, together with the survey data responded by the 57 sample hospitals, were analysed to identify the characteristics of the red-figured hospitals' financial structure, financial operational efficiency and management decision-making behavior, The financial characteristics identified through the analysis include high dependency to liabilities, high salary expenses and overhead costs, low profitability of the unduly large amount of fixed assets, and low managerial efficieny of inventory. The hospitals, in face of the IMF economic impasse, took the necessary decision-making and counter measures to cut down salary expenses, to increase the number of patient and medical revenue, and to reduce investment to fixed assets. Based on these findings this study suggested that the hospitals should take more active cost containment measures, financial structural reorganization, and developoment of the strategies that can contribute to increase of the number of patient and medical revenue and that do not. require much capital funds.

• Asia pacific journal of information systems
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• v.30 no.4
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• pp.785-807
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• 2020

The novel Coronavirus disease 2019 (COVID-19) is unprecedentedly changing the world since its outbreak in late 2019. Using the collected the data related to COVID-19 and the social media user data from a mobile application market research agency from January 25 to April 7, this study empirically examines the effect of the number of confirmed COVID-19 cases worldwide, the number news COVID-19, and the enforcement of social distancing measures on the daily active users (DAU) of two social media services - Twitter and Facebook - in South Korea. There are three important findings from the results of econometric analysis. First, the number of confirmed COVID-19 cases worldwide has a negative effect on the DAU of social media. Second, the number of COVID-19 news is negatively associated with the DAU of social media. Finally, the implementation of social distancing measures has no significant effect on the DAU of the social media. Theoretical implications and managerial guidelines are also discussed.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.1
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• pp.10-26
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• 2017

This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the 'traditional' measures of financial performance on account of its robustness and its immunity from 'creative' accounting. Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are "not mandatory for the Indian companies." Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. The study indicates that "there is no strong evidence to support Stern Stewart's claim that EVA is superior to the traditional performance measures in its association with MVA." As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India.

• International Journal of Quality Innovation
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• v.7 no.3
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• pp.24-45
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• 2006

In recent years, the labor consciousness is gradually valued. During the process of pursuing sustainable operation, the enterprises treat occupational hazard risk as the waste of cost. The purpose of OHSAS 18000 occupational security and health management system is to systematically establish the business managerial measures in terms of occupational security and calamity prevention. This research proceeded with questionnaire analysis with respect to the relationship between the OHSAS 18000 system implementation and competitiveness in Taiwan's industries. The research result revealed that there was significant relationship between Taiwan firms' execution of OHSAS 18000 system and industry competitiveness. Thus, the enterprises can decide the proper managerial plans according to the result of their own risk evaluation to prevent the happening of accidents and reduce the operational cost. They can thus completely control business occupational hazard risk through "systematic" management.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.9
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• pp.2415-2423
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• 2009

We consider organizational knowledge combination process. Previous literature investigated the issue from either managerial or social aspects, emphasizing on a part of the whole process and limiting to qualitative analyses. Here we propose an integrative and quantitative approach which considers knowledge combination process from engineering perspective. We employ a queueing network model and techniques to capture the process of interactions of entities in the knowledge combination environment. By doing so, we are able to understand the performance of the knowledge combination process. The performance measures derived can provide valuable implications for managerial decisions such as planning and controlling the knowledge combination process.

• The Journal of Industrial Distribution & Business
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• v.9 no.1
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• pp.9-23
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• 2018

Purpose - The purpose of this paper is to investigate the potential benefits or detriments of team management on fund performance in the mutual fund market. An additional purpose of this study is to examine the optimal number of managers in a fund industry for superior performance. Research design, data, and methodology - This paper investigates the effect of managerial structure on fund performance in the Korean active mutual fund market between 2001 and 2008. For this, we analyze two risk-adjusted performances measures- the capital asset pricing model (CAPM) and the three-factor model of Fama & French (1993). Results - First, we found that single-managed funds exhibited superior performance. Second major finding was that as the number of managers in a fund increases, the fund performance deteriorates. Finally, the results reveal that the sharpest performance drop occurs when team size increases from a 5-person team to a 6-person team. Conclusions - The results suggest that the management structure can be a source of competitive advantage for fund performance. As considering fund performance is the outcome of managers' decision-making, this study contributes to not only the financial literature but also the literature in other areas, such as management and general business.

• Journal of the Korean Society of Safety
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• v.34 no.5
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• pp.37-45
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• 2019

The characteristic of fire and explosion related to electrostatic discharge is that it is difficult to reproduce the electrostatic charge and discharge phenomenon in addition to the large human and material damage. Therefore, in order to prevent accidents and disasters related to electrostatic in fire and explosion hazard areas, it is important to manage the level of electrostatic in a safe manner from the perspective of system between industrial facilities and human bodies. Rule 325 of the Occupational Safety and Health Regulations, "Prevention of Fire / Explosion due to Electrostatic", requires the use of grounding, conductive materials, humidification and electrification in order to prevent the risk of disaster caused by static explosion and electrostatic in the production process. In order to comply with these measures, related technologies, standards and systems are needed from the viewpoint of preventive measures related to electrostatic in fire and explosion hazard areas, but in Korea, it is still insufficient. Therefore, technical, institutional and managerial measures are needed as a precautionary measure to improve the level of ESD safety in fire and explosion hazard areas and prevent electrostatic related injury. In Korea, we analyzed the current status and characteristics of electrostatic related disaster by using the statistics of industrial accident and fire statistics of the Ministry of Employment and Labor. We also analyzed the current status and characteristics of electrostatic related disasters in Japan using JNIOSH accidents and disasters investigation cases and JNIOSH fire accident data of Japan Fire Bureau. The purpose of this study is to compare and analyze the current status of electrostatic related accidents and disasters in Korea and Japan in order to improve the safety management of electrostatic in fire and explosion hazard areas. In order to prevent accidents and disasters in the industrial field, The technical, institutional, and managerial measures to manage the level of electrostatic in a safe state were derived from the system point of view.

• Journal of the Korean Professional Engineers Association
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• v.13 no.4
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• pp.31-47
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• 1980

Since medium and small manufacturing enterprises have , played a very important role not only in national economy but also in political and social relationships all of the countries in the world have paid favorable policies and programmes for protecting and promoting this sector. In Korea main ingredients of promoting policy for this sector consist of (1) encouragement to modernize facilities and rationalize operation (2) special priority in bank loan (3) promotion of industrial cooperatives (4) prevention of infringement by large industries. However, substantial investigation for problems incurred in medium industries has revealed that unless medium industries improve and raise their technological and managerial skillfulness for themselves all other measures are useless to solve the problems. This realization has induced all of the countries to render extension services on both of technology and management to assist and support their own effort for rationalization. Also in Korea during past 20 years many technical and managerial research institutes have rendered free consultancy services to medium industries by the support of government subsidy. Among them the joint extension services project performed by the Medium Industry Bank and UNDP during 1967 and 1975 might he listed as model case because of its broad and integrated activities and participation of foreign experts. We think many precepts should be :learned from the study of this project. Korean economy is expected to develop rapidly throughout coming'80 in spite of many obstacles, tut there is an apprehension that gap in of every facet between medium and large enterprises might he deepened and enlarged. To prevent the actualization of so-called dual structure of national economy and to promote stabilized medium industries with high added value productivity which are shown in well developed countries, consultancy assistance ana extension services should be strengthened much more than ever. Fortunately in 1978 legislation of "Medium and small industry promotion act" has paved the way for the systematic achivement of consultancy and extension services which shall be integrated by the government overall program. Under new framework thoughtfull accomplishment should be undertaken considering precious precepts obtained from past experience and failure. Special attention should be given to the technical liaison officer scheme, exclusive participation of only professional institutes, strict qualification and training for consultants for the future succsseful implementation.