• Journal of Applied Reliability
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• v.11 no.2
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• pp.187-212
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• 2011

KHP project sets total ownership cost as the target cost by applying CAIV and administrates total ownership cost through compromise analysis, a periodical estimate and management of design alternatives for each development. Based on expected cost results, sensibility of total ownership cost is analyzed complying with the change of reliability, availability, maintainability and other related factors. By considering potential total ownership cost saving methods, first of all, this paper identifies total ownership cost changing effects for each related factor, secondly, suggests total ownership cost and maintenance and operating cost saving methods via finding components that affect total ownership cost and lastly, suggests total ownership cost saving directions that may be applied to other projects in the future.

• Journal of Distribution Science
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• v.14 no.8
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• pp.51-57
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• 2016

Purpose - If control-ownership disparity is large, managers will not actively reduce costs; rather, they will maintain unutilized resources or possess surplus resources even when sales decrease with the purpose of increasing personal utility from status, power, compensation, and prestige. These managers' utility maximizing tendencies cause cost stickiness. We examine whether asymmetric behavior related to costs becomes stronger when there is a large disparity between ownership and control rights. Research design, data, and methodology - We construct a regression model to examine the relationship between control-ownership disparity and cost stickiness. STICKY, a dependent variable representing cost stickiness is a value found using the method of Weiss (2010), and Disparity is an interest variable that shows control-ownership disparity. Results - This study is based from the unique situations in Korea, in which high control-ownership disparity is common in firms. Large control-ownership disparity was found to increase cost stickiness of corporations. Conclusions - The results of this study imply that controlling shareholders may be regarded as a threat to the interests of minority shareholders and corporate values especially when controlling shareholders have significant influence over managers or the power to make managerial decisions as owners of a corporation.

• The Korean Journal of Health Service Management
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• v.10 no.2
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• pp.49-58
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• 2016

Objectives : The purpose of this study was to find factors affecting the cost-reduction practice of clinical nurses. Methods : The Data were collected from Feb. 25, to Mar. 15, 2015.the Total subjects were 201 nurses working in secondary-care hospitals located in Busan Results : The Meaningful variables that explain the cost-reduction practice in clinical nurses were psychological ownership, religion, and marital status in that order. Total explanation power was 22.1.% and psychological ownership has most explanation power. Conclusions : Psychological ownership and economic consciousness need to improve to develop cost-reduction practices. Additionally, nurses with and low concern about finances need to receive financial-related education.

• Journal of the Korea Society of Computer and Information
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• v.25 no.7
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• pp.159-165
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• 2020

With respect to the cause of asymmetric cost behavior, there are two streams of the literature. One stream focused on effect of managerial expectation and the other explained using agency system. In this study, we aim to investigate the determinants of asymmetric cost behavior in these streams. We first examine the impact of managerial overconfidence and optimistic bias on asymmetric cost. We also examine ownership ratio as a proxy of the quality of corporate governance effects on asymmetric cost. The results are as follows. First, firms have the anti-sticky asymmetric cost behavior. Second, we find that the firms with managerial optimistic bias mitigate the degree of asymmetric cost. This finding implies that managerial optimism is a factor that alters asymmetric cost behavior. Third, the degree of asymmetric cost is weaker in case of firms with higher manager's ownership. This result provides an important empirical evidence for understanding the role of corporate governance in cost behavior.

• Asian Journal of Business Environment
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• v.12 no.4
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• pp.35-44
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• 2022

Purpose: The main purpose of this study is to find out the impact of ownership structure on firm performance in the pharmaceutical and chemical industry of Bangladesh. Research design, data and methodology: The study has been conducted on 28 listed pharmaceutical and chemical companies from 2012 to 2020. Return on Assets (ROA) and Tobin's Q are selected as indicators of internal and market performance of the firms respectively whereas institutional ownership, directors' ownership and foreign ownership are selected as proxies of ownership structure. Panel analysis using random effects, lag method and time dummy method is used to analyse the relationship. Results: The study has found the existence of highly concentrated directors' ownership, a low percentage of institutional ownership and a very insignificant proportion of foreign ownership in the industry. The regression results show that directors' ownership has a positive and significant impact on firm performance, supporting the concept of agency theory. The study has also found a positive and significant impact of foreign ownership on firm performance. Unfortunately, the impact of institutional ownership is found to be insignificant. Conclusions: Directors' ownership and foreign ownership decreases agency cost that ultimately increases firm performance. However, the role of institutional investors is not significant enough to improve firm performance. It is suggested that institutional investors should be more active and involved in monitoring the activities of the organisations to improve performance.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.155-173
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• 2008

Controlling for the impacts of main strands of debt maturity theories, we highlight the relationship between syndicated loan maturity and ownership structure of Korean borrowers. We find that as the ownership of large shareholders increases, the maturity of syndicated loans also increases. Additionally, we identify a negative relation between foreigners' ownership and loan maturity, indicating that foreign institutional investors serve valuable monitoring functions; as their equity shares increase, they fully take advantage of frequent renewals through the short maturity of syndicated loan. We also show that the predicted value of leverage is more systematically and positively related to the maturity of syndicated loan.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.5-15
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• 2016

This study examines whether Korean rating agencies such as Korea Investors Service (KIS), National Information & Credit Evaluation (NICE), and Korea Ratings Corporation (KR), incorporate corporate governance into their corporate bond ratings in Korea. We find that the Korean rating agencies assign higher ratings to the bonds issued by Chaebol (Korean business group) affiliated firms. Our results also indicate that those rating agencies give higher ratings to the bonds with greater foreign investor share ownership. Moreover, if the rating agencies value corporate governance, higher rated firms should issue bonds at lower yield to maturity. We discover that Chaebol affiliation is counted favorably by the rating agencies. We find that investors are willing to pay lower risk premium for bonds with higher institutional ownership, but higher risk premium to bonds with greater equity ownership in the form of depository receipts. Therefore, even if the rating agencies and investors in Korea consider corporate governance (Chaebol affiliation and ownership structure) an important determinant in bond ratings and the yields to maturity, they have opposite views on institutional ownership and share ownership in the form of depository receipts.

• International Journal of Highway Engineering
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• v.8 no.2 s.28
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• pp.49-54
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• 2006

The purpose of this study was to determine the effect of expansion joint spacing (slab size) on the life cycle costs of owning Portland Cement Concrete (PCC) airfield pavements. Previous research has shown that slab size has a statistically significant impact on pavement performance. A probabilistic life cycle cost analysis was performed to determine if the effect of slab size on pavement performance would affect the total cost of ownership of PCC pavements. Data from 48 Pavement Condition Index (PCI) inspections of military and civilian airfields were used to develop probability-of-distress-by-condition curves, which were then used to develop probabilistic cost-of-repair-by-condition curves. A present worth life cycle cost analysis was then performed for various slab sizes, using construction costs, rehabilitation costs, and maintenance costs. Maintenance costs were determined by assuming a condition deterioration rate appropriate for each slab size and applying the cost-by-condition curves. The probabilistic cost-of-repair-by-condition curves indicated that smaller slabs are more expensive to repair on a unit cost basis. Life cycle cost analysis showed that larger slabs have a higher total cost of ownership than smaller slabs due to a faster rate of deterioration.

• Information Systems Review
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• v.3 no.1
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• pp.131-141
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• 2001

그 동안 IT 아웃소싱에 관한 많은 연구성과에도 불구하고 아웃소싱 계약체결에 있어서 실무적으로 꼭 필요한 아웃소싱의 적정가격에 관한 연구는 매우 미진한 형편이다. 특히 아웃소싱 의뢰업체 입장에서의 적정가격결정 모형이나 사례를 찾아보기는 더욱 어려운 것이 현실이다. 아웃소싱 가격의 적정성은 공급업체 만이 아니 라 의뢰업체의 입장에서도 아웃소싱의 성패를 좌우하는 중요한 요건이다. 본 연구는 TCO 개념을 이용하여, IT 아웃소싱 의뢰업체의 입장에서, 적정 가격을 산정하는 모형을 실제 적용사례를 통해 제시한다. 본 연구는 아웃소싱을 하지 않을 경우의 총소요비용과 아웃소싱을 할 경우의 총소요비용을 비교하여 아웃소싱의 효과를 측정하고 계약가격의 적정성을 판단할 수 있도록 하고자 하였다. 본 연구를 통하여 제시한 TCO분석방법 및 결과는 아웃소싱을 준비하거나 계획중인 업체에게 자체적으로 아웃소싱 계약가격을 산출하고, 아웃소싱을 통한 비용절감항목을 판단하며, 계약가격을 비교할 수 있는 자료로 사용되어 지기를 기대한다.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.317-328
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• 2021

This study aims to determine the factors that affect dividends initiation by initial public offering firms in Malaysia. The ownership structure is examined from a corporate governance theoretical perspective in order to evaluate the impacts of managerial, institutional, and family ownership on the dividend's initiation decision of IPO firms. This study employs a quantitative pooled cross-section of 372 Malaysian IPO companies active during the period of 2002-2013. The number of firms that went public each year varies, thus the pooled cross-section data takes place in this case rather than the panel data. The logistic model was employed to test the proposed hypotheses. The results revealed that the presence of institutional investors in the ownership structure make it more likely for IPO firms to initiate dividends. On the contrary, the presence of a family ownership structure in IPO companies as the controlling shareholder makes these companies less probable to initiate dividends. Managerial ownership was found to have no effect on the decision of initiating dividends by IPO firms. The findings of this study suggest that the existence of institutional and family ownerships are agency cost mitigators, as these ownership types could prompt IPOs firms to initiate dividends to overcome the agency conflicts.