• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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• pp.29-40
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• 2020

The research aims to explore the links among corporate governance, corporate social responsibility, and earnings management, considering vital roles of each component in Vietnam. There were 500 questionnaires provided to the targeted enterprises, where there were 150 enterprises in Ho Chi Minh Stock Exchange, 150 enterprises in Hanoi Stock Exchange, and 200 enterprises in the unlisted public company market. Of the distributed questionnaires, only 289 replies offered needed information for analyses. The data derived from these firms was based on their annual or sustainability statements that were retrieved from the websites. This research used a six-year rolling window to calculate earnings management. To compute that variable, lagged year information was included, so the data from 2011 to 2017 was needed to collect. The empirical results show that corporate governance mechanism is a significant moderation in the positive link between good corporate social responsibility and earnings management. Furthermore, corporate social responsibility and earnings management also play mediating roles in the associations among corporate governance, corporate social responsibility, and earnings management. This project recommends that corporate governance mechanism is an essential driver of the managerial behaviors in social responsibility and ethical accounting practices, which are in turn mediators in the joint research model.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.953-962
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• 2021

This study aims to examine the effect of environmental performance and good corporate governance (GCG) on the firm values mediated by corporate social responsibility (CSR). The sample in this study was obtained using a purposive sampling method and collected from 205 companies. The analytical method used is moderating regression analysis. The results of this study indicate, first, that corporate social responsibility affects the value of the company. The results of this study indicate that the better corporate governance will increase the value of the firm and vice versa. Second, corporate social responsibility has a direct effect on the firm value, but the effect is still smaller when compared with the internal mechanisms of good corporate governance. This study also found that corporate social responsibility cannot mediate the effect of good corporate governance on firm value. Third, the company's environmental performance influences the company's value. Finally, the effect of environmental performance on company value will be better if mediated by corporate social responsibility. This result shows that environmental performance is a proof that the company's environmental and social concern, which is manifested in corporate social responsibility, will be responded positively by the market so that it will increase share prices (firm value).

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.213-228
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• 2022

This paper investigates the association between key corporate governance characteristics and the performance of general insurance businesses listed on the Saudi stock exchange (TADAWUL). The methodology for the study is based on a pooled data collection for 11 Saudi general insurance companies from 2011 to 20. The linear regression model and the logarithm regression model are suggested to assess the relationship between performance and corporate governance characteristics. The dependent variable is firm performance measured using ROA, ROE, and Tobin's Q. The independent variables are corporate governance variables consisting of a complete set of board and audit committee characteristics. Insurer-specific control variables are introduced. The empirical results reveal that the characteristics of corporate governance influence the performance of insurance companies. In particular, the board size, board's tenure, the proportion of independent directors in the board, audit committee size, audit committee meeting frequency, and proportion of health insurance premiums have a positive impact. However, audit committee independence, size of the company, and proportion of reinsurance premiums have a negative impact on the performance of the Saudi general insurance companies. Finally, the empirical results indicated also that there is an unclear relationship between the performance and board meeting frequency, compensations of the Board, and the average age of the Board.

• 한국IT서비스학회지
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• 제10권2호
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• pp.95-117
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• 2011

Today, IT governance has also become a subject of attention along with recent technologies such as ITSM (IT Service Management), PPM (Project Portfolio Management) and Compliance. At the national level, the market is fairly recent. and therefore, lacks detailed research in the field. Models specifically related to EIM has not yet been presented to this day, hence, firms that are considering EIM as a potential part of their information management system may fall into a state of disorder in the process of its implementation. To this end, this research attempts to construct an IT governance model for EIM based on existing models, surveys and interviews. In particular, E-discovery has been applied as means of protecting information assets and its use as evidence. In addition, by applying the research model to a particular global firm and then assessing its documentation management system, the overall feasibility of the research model has been tested.

• 경영정보학연구
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• 제9권2호
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• pp.1-14
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• 2007

기업 간 관계를 관리하는 효과적인 거버넌스 구조(governance structure)는 기업 간 관계의 성공에 매우 중요한 역할을 한다. 특히 기업 간 관계가 국경을 초월한 해외에서 이루어질 때, 기업 간의 문제를 조정하기 위한 효과적인 거버넌스 구조의 역할은 더욱 중요성을 갖게 되는 것이다. 실제 해외에서 비즈니스 프로세스를 소싱(Sourcing)하고 있는 업체와 서비스 제공 업체들은 해외 소싱 성공을 위한 효과적인 거버넌스 구조에 대해 매우 중요하게 인식하고 있다. 하지만 이에 대한 실증적인 연구는 부재한 실정이다. 본 연구에서는 IT 집약적인 비즈니스 프로세스 소싱에 있어서 고객과 서비스 제공업체 사이의 지식이전이 BPO 성공에 중요한 역할을 한다고 보고, 이전되는 지식 유형에 적절하고 효과적인 거버넌스 구조에 대한 연구를 프랑스 회사들의 해외 소싱 사례를 통하여 수행하고자 한다.

• 디지털융복합연구
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• 제15권12호
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• pp.213-219
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• 2017

최근, 기업지배구조의 정의는 지속가능경영과 기업의 사회적책임을 요구에 부응할 수 있는 이해관계자 중심의 기업지배구조이다. 이에 따라 본 연구의 목적은 종업원 및 채권자 기업지배구조가 경영자의 사적 이익을 줄이는 역할을 수행하는지에 대해 이익조정에 미치는 영향을 회 귀분석을 이용하여 실증분석하는 것이다. 분석결과, 종업원 및 채권자 기업지배구조는 경영자의 사적이익 추구인 음(-)의 발생액인 자산손상차손과 양(+)의 발생액인 재량적 유동적 발생액의 동시적 이익조정을 줄이는 역할을 수행하는 것을 확인할 수 있었다. 이는 이해관계자 중심 기업지배구조가 경영자의 행태 및 시장을 감시할 수 있는 통제적 역할을 수행 할 수 있음을 실증분석 결과를 통해 제시하였다는 점에서 공헌점을 가진다. 또한, 본 연구의 결과는 기업의 사회적 책임이 중요시되는 현대 기업의 지속가능경영을 위해서 기업지배구조로서의 이해관계자의 책임이 중요하다는 것을 시사한다.

• 아태비즈니스연구
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• 제14권1호
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• pp.171-194
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• 2023

Purpose - This study starts with the question of whether the capital market is likely to give positive valuations to companies that pursue diversity in their management and corporate governance structure. In this study, minority gender identity is considered as a diversity issue in management that has a socially negative perception. Design/methodology/approach - This study analyzed the relationship between corporate value in the capital market and the policies of companies that advocated minority gender identities, based on listed U.S. company data. Findings - This study finds that companies that support minority gender identities had a lower Tobin's q value than companies that did not. However, in the case of authenticity in terms of corporate governance diversity, the study finds that companies that advocate minority gender identities rather receive high firm valuation. In particular, companies with a high percentage of female directors show high corporate value even when implementing policies that support minority gender identities. Research implications or Originality - This study explores the capital market's response to diversity using past data in the U.S., but provides more practical implications for how companies should respond to a situation where an advocacy policy, based on more social recognition, for LGBT groups is established in Korea.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.727-736
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• 2020

The purpose of this paper is to examine the relationship power distribution among several blockholders (contestability) and firm performance. We use a sample of 646 firms listed in the security markets of Korea from 2005 to 2007. Using different measures of contestability, we verify advance research literature by examining that, when power dispersion among several blockholders (contestability) increases, firm performance is enhanced. The results show that, when the possibility of a controlling coalition being formed among several blocks increases, the corporate value decreases. We also find that this relationship is even more significant in KOSDAQ. However, the smaller the competition of voting rights among blockholders, the higher the corporate performance in KOSPI. The reason for this seems to be that the two markets are different in terms of ownership and governance. This suggests that the effects of contestability among blockholders on firm performance depend on the type of the stock market. The results of this study expand the existing governance literature by analyzing the relationship between contestability among blockholders and firm performance in emerging markets such as Korea. Our findings contribute to policymakers and investors who are interested in the relationship between contestability of control and firm performance in the Korea stock market.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.375-381
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• 2021

Underpricing signifies that IPO share prices do not reflect the fundamental value of the listed company. Corporate governance plays an essential role in IPOs where the board of directors, the independent board of directors, and the board of supervisors are significant elements of accurate share pricing. The study investigates the underpricing phenomena and short-term performance of the IPO companies during the listing process in the Ho Chi Minh Stock Exchange (HOSE). The work outcomes illustrate the role of the corporate organizational structure in the period of the IPO process that may attract potential investors. The hypothesis testing is conducted with a multiple regression model including 100 observations from enterprises doing IPO listed on HOSE. The study results generate signals for the investors and regulators that the board of directors holds a strong negative influence on the underpricing process. Secondly, the level of the independent board of directors and stock exchange in itself has no significant impact on the underpricing process. Underpricing is one of the many anomalies of the stock exchanges that provide wrong signals for the market participants. Identifying stock prices that reflect their intrinsic value is an ongoing debate among scholars, investors, and other market participants.

• 디지털콘텐츠학회 논문지
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• 제19권6호
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• pp.1069-1079
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• 2018

미디어 거버넌스론을 바탕으로 KBS 제도에 영향을 미치는 요인과 지배구조 개선에 대한 인식을 분석하고, 지배구조 개선방안을 제시하였다. 연구결과는 다음과 같다. 첫째, KBS 제도에 영향을 미치는 요인은 정치, 다음으로 공영방송 자신 즉 전문직주의 역할로 나타났다. 정치적 요인이 공영방송 KBS 제도에 가장 영향을 주는 요인으로 확인되었다. 둘째, KBS 지배구조는 BBC와 같이 정치 독립적인 전문모델을 지향하면서, 이사회 구성과 비율은 정치권 이외의 다양한 이해 세력이 참여하는 독일식 조합 모델을 선호하였다. 셋째, 미래 지향적 KBS 지배구조 모델은 정치와 시장의 영향력으로부터 벗어난 시민사회(공공) 영역의 변화를 필요로 한다. 결국 공영방송 KBS 제도가 안정적으로 작동하기 위해서는 정치적 영향이 축소되어야 하고, 공공영역(시민사회)의 성장으로 정치와 시장을 견제하는 역할이 필요하다는 것이다.