• Proceedings of the Technology Innovation Conference
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• 1999.06a
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• pp.266-289
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• 1999

With the globalization trend in S&T activities, Korean research organizations have begun to utilize foreign researchers. The performance of foreign researchers is generally regarded satisfactory, but there are many problems too. Moreover, there has not been any research carried out even though there is a growing need for the management of foreign researchers. This paper identified the performance / motivation factors of foreign researchers in Korean research organizations. The statistical results show that the efforts and research capabilities are the most important variables for performance of foreign researchers in Korean research organization. In addition, it is found out that university shows higher performance than government research institute and corporate research organization while it pays the least to the foreign researchers. It is interesting to see that the level of monetary payment is not strongly related with the performance of foreign researchers. In order to utilize the full potential of foreign researchers, it is necessary to enhance the living infrastructure. In addition, due attention should be given to the managerial capabilities of R&D administrators and evaluation/incentive systems of foreign researchers in Korean research organizations.

• Journal of Korean Society for Quality Management
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• v.31 no.4
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• pp.81-94
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• 2003

Six sigma is a management innovation strategy which improves all managerial processes in an integrated manner, Six sigma can be applied to every aspect of managerial functions such as marketing, engineering, purchasing, accounting, and so on. Six sigma is trying to solve quality problems from the customer's viewpoint in the scientific manner, thus maximizing profits through the elimination of quality costs. This paper is presented to verify empirically the successful factors of implementing six sigma through the survey of black­belts of Korean firms. The blue­chip companies in Korea and across the world have already adopted Six Sigma, and it is becoming an integral part of the corporate culture of these companies. In conclusion, the most important factors to the success of six sigma are found to be the leadership of top management, and the compensation/ incentive system. The analysis also shows that the important factors are different in terms of both the process type and implementing stage.

• Journal of Digital Convergence
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• v.17 no.4
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• pp.107-114
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• 2019

This study analyzes the effect of the accuracy of future management performance, which managers voluntarily announce in the previous year's disclosure, on managers compensation. In the case of a company that disclosed the bad news in the previous year, the ability to predict uncertain future will be more important, and expects executives with better predictability to receive more compensation. The results of this study show that there is a significant negative(-) relationship between the accuracy of the manager's earnings forecast and the performance - compensation of the firms that disclosed the bad news in the previous year. The accuracy of the manager's disclosure is important, and it is confirmed that the manager's compensation increases as the incentive of the manager's effort to reduce future uncertainty. The results of this study are as follows: there is a positive relationship between the managerial performance and the managerial competence of managers. It is important to note that there is a difference and that we have identified additional determinants of the manager compensation contract.

• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.187-204
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• 2023

Purpose - This study deals with the manager's overconfidence and stock price delay, and verified whether the stock price delay phenomenon changes as the overconfidence increases. Design/methodology/approach - Manager overconfidence means that managers have over confidence in their positions or abilities, and was measured according to Schrand and Zechman (2012). Stock price delay is a phenomenon in which information of company is not immediately reflected in the stock price, but is reflected over time, and was measured by the method suggested in a study by Hou and Moskowitz (2005). The analysis subjects used in this study are companies listed on the KOSPI market between 2011 and 2019, and the final sample is 5,509 company-years. Findings - As a result of the verification, it was shown that the stock price delay decreased as the manager's overconfidence increased, and this effect was amplified as the foreign shareholder's share ratio increased and the number of follow-up financial analysts increased. This means that as the manager's overconfidence increases, he actively provides high-quality information to the capital market. In addition, as a result of subdividing the manager's overconfidence into the investment and capital raising aspects, the capital raising aspect has a significant effect on reducing stock delays. This can be interpreted as the fact that managers with overconfident tendencies have a greater incentive to satisfy investors' information needs. Research implications or Originality - In previous studies, the characteristics of managers with strong overconfidence have both positive and negative aspects. The results of this study are significant in that they clearly demonstrated the positive aspect through the market variable of stock price delay, and it is expected to help capital market stakeholders understand the characteristics of managers with a strong propensity for overconfidence.

• Environmental and Resource Economics Review
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• v.21 no.2
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• pp.301-319
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• 2012

The primary purpose of Renewable Portfolio Standard (RPS) is to facilitate investment in renewable energy technology. Since emission trading program has similar purpose, it is conceivable to attempt to link RPS and emission trading program through interlinked markets. RPS in Korea with single REC and emission allowance markets has particular advantages for constructing linkages between two markets. This paper provides a real option model to examine investment effects of linkage of RPS to the trading program. Emission permit price and REC price are assumed to follow stochastic processes and renewable investment is irreversible. The result shows that linked market provides further incentive for renewable investment by raising managerial flexibility for power companies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1009-1019
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• 2020

This study presents an exploratory investigation of SMEs in Vietnam to understand the impact of personal-level factors on middle managers' work motivation and the moderating role of work environment. A survey of 450 middle managers (MMs) in 150 Hanoi's SMEs was conducted. The findings of this research showed a significant positive impact of Achievement (ACHV), Recognition (RECOG), and Responsibility (RESP) on work motivation of MMs under the investigation. Furthermore, the result indicated that the work environment affects the relationship between personal-level factors and work motivation of participants. Consequently, both work environment improvement and strategies related to personal-level factors need to be taken into consideration. Especially, Recognition and transparency in Responsibility are appreciated in organizations with a low level of work environment satisfaction. However, there were no indications that Participation (PAR) and Communication (CMM) have a considerable impact on work motivation of respondents, being neither low level nor high level of work environment satisfaction. Based on the findings, recommendations are suggested for Vietnam's SMEs to improve work motivation of MMs, by (i) developing standards with emphasis on their achievement, (ii) paying attention to organizational culture focusing on the responsibility of this managerial level, and (iii) building an adequate incentive system, especially non-financial incentives.

• Journal of the Korean Society for Railway
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• v.17 no.6
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• pp.452-456
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• 2014

This article analyzes the new approach to regulation with regards to the railway industry and determines the government's new role. For this purpose, the regulations are categorized into three dimensions (economic, societal and administrative), following the criteria adopted by the Regulatory Reform Committee. Furthermore, these items are analyzed as compulsory vs. incentive, and prior vs. ex post, according to the managerial characteristics. As a result, some recommendations were derived: the economic regulations should be deregulated and the societal regulations should be modified in order to rationalize the criteria. From this perspective, the government's role needs to be repositioned in order to activate the railway industry.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.12
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• pp.1721-1732
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• 2007

This study identified types of information source, and explored a path model for consumer information search by shopping attributes in the context of online decision making. Participants completed self-administered questionnaires during regularly scheduled classes. A total of 219 usable questionnaires were obtained from respondents who enroll at universities in the southwestern region of the United States. For data analysis, factor analysis and path model estimation were used. Consumer information source was classified into three types for online clothing purchases: Online source, Offline retail source, and Mass media. Consumers were more likely to rely on offline retail source for online clothing purchases, than other sources. In consumer information search by shopping attributes, online sources were more likely to be related to transaction-related attributes(e.g., incentive service), whereas offline retail source(e.g., displays in stores, manufacturer's catalogs and pamphlets) were more likely to be related to product and market related attributes(e.g., aesthetics, price) when purchasing clothing online. Also, the path model emphasizes the effect of shopping attributes on traditional retailer search behavior, leading to online purchase intention for clothing. This study supports consumer information search by attributes, and discusses a managerial implication of multi-channel retailing for apparel.

• Korea Journal of Hospital Management
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• v.2 no.1
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• pp.162-182
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• 1997

This study was carried out to assess the current status of hospital wage structure and to find out the characteristics and problems in the current hospital wage structure. so as to provide empirical data for establishing a rational wage structure. The data were collected from administrative personnels in charge of wage management in 31 hospitals by using a structured questionnaire through direct visiting and mailing in Pusan Metropolitan City. The major findings in this study were as follows: First, the hospital wage structure applied differently to the basic wages between doctors and the other employees. The wage structure for doctors included performance rate of 51.6%, followed by a synthesis rate of 29.0%, while the wage for the other employees had the synthesis rate of 74.2%, followed by the seniority rate of 12.9%. Second, the wage consisted of a basic wage for 57.5%. the allowance for 21.1% and monthly installed bonus for 21.4%, and the basic wage comprised 68.3% of the total wage for doctors, as compared to 51.9% for nurses and medical technicians and 52.4% for administrative and managerial personnel. The annual rate of the bonus was average 460%, and 96.8% of the hospital did not consider personnel preformance appraisal when paying the bonus. Third, 80.6% of the hospitals applied the legal rate to the retirement allowance while 19.4% applying cumulative rates more than the legal rate, and all of university hospitals applied cumulative rates. Retirement reserves were practiced only in 54.9% of the hospitals. Forth, many hospitals seemed to be interested in applying graded wage system according to performance, by showing that 42.9% of the hospitals were planning to apply it in the future, despite only 9.7% practicing it. Fifth, the wage structure appeared to be complicated due to various kinds of allowances. The kind of the allowances varied among hospitals, ranging from 2 to 26 kinds, and increased as the size of hospital was larger. Sixth, the opinions leading to improve the basic wage structure favored the seniority rate for 51.6% either to maintain the present seniority rate(16.1%) or to apply the incentive pay in addition to the senior rate(35.5%). and also favored the performance rate for 35.5%, followed by the job rate for 12.9%. In conclusion, the current hospital wage structure seemed to be too complicated to reflect personal ability, contribution and performance and to become a big barrier to inducing worker's motivation and to strengthening in competitveness. Therefore it is suggested that the current wage structure should be revised to the one emphasizing on job and ability base with considering characteristics and situation of the hospital, rather than seniority factors.

• Journal of Distribution Science
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• v.14 no.12
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• pp.129-139
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• 2016

Purpose - This paper examines the explanatory power of the agency theory in the determination of cash holdings for Korean retail firms. If the agency theory holds, a firm with strong corporate governance structure tends to have low cash holdings. A strong governance structure makes the CEO of this firm to behave in the interests of shareholders and thus the CEO has low incentive to stockpile cash holdings, which can be easily diverted for the CEO's own managerial purposes. We investigate this relationship between corporate governance structure and cash holdings, by using corporate governance scores as a proxy variable that captures the effectiveness of corporate governance mechanism. Research design, data, and methodology - We adopt the sample of publicly listed retail firms in KOSPI market from 2005 to 2013. Financial and accounting statements are gathered from the WISEfn database. We also use the corporate governance scores published by Korean Corporate Governance Service. The relationship between the corporate governance scores and cash holdings is cross-sectionally estimated based on the ordinary least square method. This estimation method is widely accepted in the existing literature. The sample of large conglomerates, Chebol, and the remainder firms are separately examined as well, to account for the distinctive internal financing environment in these large conglomerates. Results - We mainly contribute to the extant literature by providing empirical evidence against the agency theory of cash policy. Unlike the prediction of agency theory, we confirm statistically insignificant or even positive correlations between the set of corporate governance scores and cash-asset ratios. Almost all the major corporate governance attributes including total score, shareholder rights, board structure, and the quality of information disclosure do not show negative correlations with cash holdings, which poses a strong challenge to the validity of the agency theory in the determination of retail firms' cash holdings. Conclusions - This study presents interesting empirical results with respect to the cash policy in Korean retail firms. Consistent to prior studies, I verify that the agency theory only limitedly explains the level of cash holdings. Future studies may obtain more robust results by examining a longer sample period.