• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.1
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• pp.143-147
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• 2013

This paper examines the impact of corporate governance structure on the cost of debt. Total sample is divided into the small sample, the medium sample and the large sample of equity concentration, based on the equity ownership of large shareholders. Our regression results show that foreign investors are not associated with the cost of debt in the small and medium samples of equity ownership, whereas foreign investors are significantly associated with the reduction in the cost of debt in the large sample of equity concentration. Academic implications of our findings are that as the ownership of dominating shareholders rises, they seek their private interests of perks causing an increase in agency costs and a decrease in firm's economic value, thus expanding borrowing costs. Practical business implications are that foreign investors may alleviate agency problem of dominating large shareholders in the firm through monitoring activities, thus enhancing the efficiency of business decision-makings.

• Journal of Biosystems Engineering
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• v.4 no.1
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• pp.67-74
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• 1979

This survey was carried out to grasp the actual condition of a power tiller utilization . Now, the power tiller has become the leading machinery in the field of agriculture throughout the country . Two hundred farm houses, located in the provincial districts of Kimcheon and kum0rung, hav etaken part in the survey from October 1, 1976 to September 30, 1977. The results are summarized as follows . 1. The average size of cultivated land of a farm household in the districts surveyed was 1.77ha which was bigger than that of whole country. And the average age of power tiller drivers was analyzed in which only 105 of total drivers was on their 30's. 2. Distribution of a power tiller utilization was appeared to be 34.4% for transporting , 24% for tilling , 23% for pumping , 11.5% for threshing and 6.6% for spraying. 3. Frequency of a power tiller utilization was high during the month of June, July and October while it was low during February and December . 4. Distribution of repairing cost was 8.5% for trailer, 7.1% for throttle lever and 6.7% for casket, respectively. The annual cost for repairing was 5,290 won.5. The annual cost for using a power tiller was composed of 51.5% of fixed cost and 48.5% of operating cost. 6. Economic analysis showed that it was not economically practical for individual ownership of a power tiller on the farm surveyed. Therefore, custom operation and joint ownership by a few farmers were recommended.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2007.06a
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• pp.558-559
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• 2007

A commercially de-waxer which kinds of solvent after was used to remove a thick organic wax film after polishing process and several steps of SC-1 cleanings were followed for the removal of organic wax residues and particles which requires long process time and high cost of ownership (COO). DIO3 was used to remove organic wax residues too achieve low COO. In this study, 0103 rinsing could use instead of 01 water rinsing. The process time and chemical consumption were reduced by using DIO3.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.327-339
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• 2021

This study examines the impact of bank restructuring on the financial performance of commercial banks in Vietnam. The data for this study was obtained from the audited financial statements of 30 Vietnamese commercial banks from 2007 to 2019. Multiple regression analysis was used for investigation. Financial performance, as evaluated by ROAA, ROEA, and NIM, is the dependent variable. Financial restructuring, ownership restructuring, and operational restructuring are the independent variables. Pooled least squares (Pooled OLS), fixed effects model (FEM), random effects model (REM), and system generalized moment regression model (System GMM) are the estimate methods used to increase the accuracy of the regression coefficient. The research results show that the variables of financial restructuring activities such as government intervention and the ratio of equity to total assets; variables of ownership restructuring such as capital adequacy ratio, privatization of state-owned commercial banks, mergers, and acquisitions; variables of operational restructuring such as employees, branches, the cost to total assets; GDP variables and the second restructuring period have a positive impact on financial performance. Variables such as debt-to-capital ratio, bad debt ratio, state ownership ratio, expense-income ratio, and inflation have a negative effect on financial performance.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.89-102
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• 2022

Purpose - We examine empirically the relationship between the board of directors and the corporate performance using board characteristics related variables. Design/methodology/approach - We empirically test the hypotheses using fixed effects models (FEM), using data of 3,703 listed non-financial companies in China from 2010 to 2019. Findings - First, the ownership of board of directors is positively related to ROA. Second, the size of the board of directors is positively related to ROA. Third, there is no evidence that interaction between characteristic variables related to the board of directors affect the corporate performance. Research implications or Originality - These results show that as the board of directors has larger ownership, the degree of identity of interest between stock holders and the board becomes bigger to reduce agency cost, then it lets the board make decisions to improve the corporate performance. In addition, as the board of directors becomes bigger, the board has strong independence to play the role of monitoring and advising, then it leads to improvement of corporate performance.

• Management & Information Systems Review
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• v.5
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• pp.185-209
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• 2000

A review of shows that past research has focused predominately on foreign market entry strategy issues in relatively well-established firms. These studies have either ignored venture firms or have failed to treat these firms separately. Only recently, researchers have broadened their search to include aspects of the foreign market investment of the venture. The purposes of this study are to identify and explain the impact factors such as ownership specific advantage, transaction cost, and location specific advantage on the choice of foreign market entry strategy for venture firms. To find the perceived the foreign market entry strategy and determinant factors, 130 venture CEOs from the computer and communications equipment industries were asked to describe their venture's foreign market entry strategy through 17 questionnaire items on competitive method. Using factor analysis, the six determinant factors were categorized. To test the relationships between the foreign market entry strategy and factors such as ownership specific advantage, transaction cost, and location specific advantage, the data collected by questionnaire from 92 ventures. The main results of this research are as follows. First, the factors of ownership specific advantage have partially significant impact on the foreign market entry strategy of venture firms, Second, the factors of transaction cost have significant impact on their foreign market entry strategy. Third, the factors of location specific advantage have significant impact on their foreign market entry strategy. This study has produced evidence to demonstrate that the foreign market entry strategy profile of venture firms can be distinguished from those of relatively well-established firms. An expanded study would allow for stronger conclusions regarding the relative explanatory power of individual variables in the method. Additional research is also needed to examine other determinant variables connecting foreign market entry strategy.

• Journal of Korea Society of Industrial Information Systems
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• v.25 no.6
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• pp.125-141
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• 2020

This study focuses on the impact of service expansion for tax service customers and the change in customer's re-use intention, according to the degree of psychological ownership of internal employees when expanding differentiated service areas and the reinforcement of profits according to the representative's tendency. The effects of emphasis, cost emphasis, and double emphasis (revenue and cost dual emphasis) were analyzed. As a result of the study, it was possible to see the changes in the customer's re-use intention according to the psychological ownership of internal workers and satisfying users' customer satisfaction. In addition, it is meaningful to enable the tax agent to pursue a change in the direction of future-oriented service provision, and a new research direction was suggested in terms of the professionalism, quality, and service expansion of the tax agent.

• Journal of the Korea Convergence Society
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• v.6 no.1
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• pp.71-76
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• 2015

Using a sample of publicly-traded Chinese firms, this study examines a relationship between managerial ownership and corporate debt maturity decisions. China has transformed dramatically into a market capitalist economy over the past decades. However, so far, little attention has been paid to the role of professional managers. In this situation, this study explores the effect of stock grants to managers as incentive system by providing evidence that managerial ownership affects corporate debt maturity decisions. The findings are as follows: First, I find that like US firms, managerial ownership is negatively related to the proportion of long-term debt. Second, I divide the entire sample into two subsamples of state-owned and privately owned firms. For the privately owned firms, I find that there is a negative relationship between managerial ownership and the proportion of long-term debt. In contrast, for the state-owned firms, the relationship is positive and insignificant.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2003.07a
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• pp.50-53
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• 2003

CMP (chemical mechanical polishing) process remained to solve several problems in deep sub-micron integrated circuit manufacturing process. especially consumables (polishing pad, backing film, slurry, pad conditioner), one of the most important components in the CMP system is the slurry. Among the composition of slurries (buffer solution, bulk solution, abrasive particle, oxidizer, inhibitor, suspension, antifoaming agent, dispersion agent), the abrasive particles are important in determining polish rate and planarization ability of a CMP process. However, the cost of abrasives is still very high. So, in order to reduce the high COO (cost of ownership) and COC (cost of consumables) in this paper, we have collected the silica abrasive powders by filtering after subsequent CMP process for the purpose of abrasive particle recycling. And then, we have studied the possibility of recycle of reused silica abrasive through the analysis of particle size and hardness. Also, we annealed the collected abrasive powders to promote the mechanical strength of reduced abrasion force. Finally, we compared the CMP characteristics between self-developed KOH-based silica abrasive slurry and original slurry. As our experimental results, we obtained the comparable removal rate and good planarity with commercial products. Consequently, we can expect the saving of high cost slurry.

• Proceedings of the Korean Institute of Electrical and Electronic Material Engineers Conference
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• 2003.05c
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• pp.145-148
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• 2003

Recently, the recycle of CMP (chemical mechanical polishing) slurries have been positively considered in order to reduce the high COO (cost of ownership) and COC (cost of consumables) in CMP process. Among the composition of slurries (buffer solution, bulk solution, abrasive particle, oxidizer, inhibitor, suspension, antifoaming agent, dispersion agent), the abrasive particles are one of the most important components. Especially, the abrasive particles of slurry are needed in order to achieve a good removal rate. However, the cost of abrasives, is still very high. In this paper, we have collected the silica abrasive powders by filtering after subsequent CMP process for the purpose of abrasive particle recycling. And then, we have studied the possibility of recycle of reused silica abrasive through the analysis of particle size and hardness. Also, we annealed the collected abrasive powders to promote the mechanical strength of reduced abrasion force. Finally, we compared the CMP characteristics between self-developed KOH-based silica abrasive slurry and original slury, As our experimental results, we obtained the comparable removal rate and good planarity with commercial products. Consequently, we can expect the saving of high cost slurry.