• Journal of Digital Convergence
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• v.15 no.9
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• pp.111-123
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• 2017

This study examines the effects of personality characteristics and self-leadership on job engagement and turnover intention, focusing on the mediating role of psychological ownership in the fourth industrial revolution and convergence environment. While personality characteristics had a significant positive effect on job engagement, there was indirect effect on turnover intention through mediation of psychological ownership. Self-leadership has a direct and indirect effect on job engagement, and it has a direct positive effect on turnover intention and negatively influences through mediation of psychological ownership. And the effect of psychological ownership was confirmed increasing job engagement and reducing turnover intention. The results of this study have implications for human resource development and organizational management.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.159-168
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• 2020

This is a quantitative research, underpinned by the philosophy of natural science and deduction approach that examines the impact of the various aspects of corporate governance mechanism on the choice of capital structure of Vietnamese listed firms. We focus on the effect of factors such as the board size, the board independence, and especially different ownership structures, which include the managerial ownership, the state ownership, the concentrated ownership, and the foreign ownership. They are the main scopes of corporate governance and are supposed to be relevant to determine the corporate financing choice. To explain the causal relationship between factors, we construct the regression model and then test it by using different statistical method approaches, including the pooled OLS, the fixed effects model, and the random effects model. Data are collected from 336 firms with shares listed in the Ho Chi Minh City Stock Exchange in Vietnam, totaling 1583 observations. Overall, the results reveal that the board size, state ownership, and concentrated ownership have positive impact on the firm's capital structure, whereas foreign ownership appears to have negative influence on the capital structure. The research does not find evidence of a the correlation between board independence, managerial ownership and corporate capital struture.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.297-307
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• 2019

Despite the fact that the implementation of 5% rule is widely recognized to enhance the transparency of capital market and fairness of corporate governance market, a few evidences present information effect of 5% rule. Using 7,088 non-financial firm-year observations listed on the Korea Stock Exchange from 2006 to 2012, we analyze the relation between trading volume and 5% rule disclosure. The results show that the daily and abnormal trading volume is increased when 5% rule disclosure is released. Moreover, the trading volume is significantly increased during cooling period. Specifically, trading volume is significantly greater when one day before cooling period or the expiration day of cooling period. We also find the information effect of firms with stable ownership structure before 5% rule disclosure is relatively smaller than the firms with unstable ownership structure with unstable ownership structure. These results imply that capital market participants use the information from 5% rule disclosure and reflect in their real economic decision.

• Management & Information Systems Review
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• v.34 no.4
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• pp.15-29
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• 2015

This study aims to empirically analyze the relationship between management ownership and corporate performance and stock returns indicates the ownership structure of the company to target the listed companies in China over the past five years from 2010 to 2014. The empirical results are as follows: Management ownership gave an impact on stock returns, especially high-stakes management ownership showed significant positive effect with the stock returns. But management ownership don't have significant positive effect with ROA. The contribution of this study is as follows. Chinese companies have the efficiency of the management through the separation of ownership and management in accordance with the changes realized in capitalism. And this study is reflecting the fact of China using the Chinese data. This study has limitations of that. Management ownership measurement of governance structure don't expand the range, and measurement of governance structure is just one. The following studies are expected to be more sophisticated by comparison of countries.

• Journal of Distribution Science
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• v.14 no.3
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• pp.93-101
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• 2016

Purpose - Due to the heavy reliance on the human dependence, several factors such as attitude, behavior, emotional status and the quality of the service by the employees have been a decisive effect on the existence of a business in service industry. This study made use of the cases from the beauty salons in Korea, and tried to find out the meaningful results with following purposes. The purpose of this study is to find out the effects of psychological ownership with focusing on the employees in service industry. Therefore, this study is based on the literature reviews in the fields of psychological ownership, regulatory focus, and customer satisfaction. In particular, this study focuses on the regulatory focus with two parts. The two parts are composed of the promotion focus and prevention focus. Also, the relationship between the regulatory focus on employee and customer satisfaction was identified through empirical study. Mediating effects of regulatory focus were also studied, that is, the regulatory focus was on the relationship between psychological ownership and customer satisfaction. In conclusion, practical and intellectual implications were discussed for the growth and development in service industry. Research design, data & methodology - The survey for this study was conducted from November 15th to December 15th in 2015. The same amount of survey was given to both, the service providers and customers. For both of them, such as the service providers and customers, 260 questionnaires were distributed to them in total. After excluding the missing and unreliable responses for the exact analysis and process, 250 responses were collected and used in the research analysis. This study conducted a survey questionnaires, and the confirmatory analysis was used for the reliability and validity in this study. SPSS & AMOS programs were used for the analysis. Results - The first variable that was looked at from this study is the psychological ownership. The psychological ownership had positive effects on the performance both in improving focus and prevention focus. It indicates that this study supports the results from the previous studies. Second, the effects on the performance in improving focus and prevention focus for customer satisfaction were studied. As a result, the performance in improving focus had positive effect on customer satisfaction, but prevention focus did not have any positive effect. Third, this study looked at the mediating effect of regulatory focus on the relationship between the psychological ownership and the customer satisfaction, and only partly, they had positive effects on customer satisfaction. Conclusions - The results of this study showed that the psychological ownership has positive effects on regulatory focus both in performance improving focus and prevention focus. However, the mediating effects had partial positive effects on customer satisfaction and these results indicate that the service enterprises should focus on the employees' psychological ownership in order to maximize the customers' satisfaction.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.769-778
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• 2020

The purpose of this study was to examine the role of profitability as a mediating variable in influencing firm value. This study uses a sample of manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018. The data used is panel data, with data analysis using multiple regression. Based on the Sobel test, profitability plays a role in mediating the effect of firm size on firm value. The effect of firm size on firm value is indirect, however, through profitability. Therefore, the market price of the shares of large-scale companies will increase if the resulting profitability is high. The capital structure and managerial ownership directly influence firm value. The results showed that managerial ownership and firm size had a positive effect on profitability, while capital structure had no effect on profitability. Capital structure and managerial ownership have a negative effect on firm value, while firm size and profitability have a positive effect on firm value. The main finding of this study is that profitability acts as an intervening variable in mediating the relationship between firm size and firm value.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.933-941
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• 2021

This research aims to test the effect of corporate governance factors on corporate social responsibility (CSR) disclosure and its impact on a company's financial performance. The factors of corporate governance referred to in this research are foreign ownership, state ownership, number of board of commissioners, the proportion of independent commissioners, and educational background of commissioners' board. Based on the purposive sampling method, 194 companies were selected with a total of 582 observations. The data analysis used in this study was the Structural Equation Model (SEM) approach by using the alternative Partial Least Square (PLS) method. The results of this research indicated that state ownership, number of board of commissioners, and the proportion of independent commissioners had a significant positive effect on CSR disclosure. While the foreign ownership and the educational background of the commissioners' board have had an insignificant effect on CSR disclosure. Then, CSR disclosure had a significant positive effect on the companies' financial performance. The findings of this study suggest that the positive effect of the CSR disclosure on performance is because the disclosure is able to improve the company's reputation; the more social activities are carried out will improve the customers' loyalty as well as the support from other stakeholders which in turns will improve the company's performance.

• Journal of Distribution Science
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• v.14 no.3
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• pp.11-22
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• 2016

Purpose - This study empirically validates the theoretical argument of the effect of authentic leadership on organizational citizenship behavior, and the mediating roles of followers' self-awareness and psychological ownership between authentic leadership and followers' organizational citizenship behavior. Research design, data, and methodology - A total of 380 office workers in Korea were surveyed through on-line, and the result was analyzed using confirmatory factor analysis and structural equational modeling. Results - The authentic leadership was shown to be related positively to followers' self-awareness and psychological ownership, both of which were associated positively with their organizational citizenship behavior. The complete mediating effects of followers' self-awareness and psychological ownership were verified between authentic leadership and follower's organizational citizenship behavior. Conclusions - While followers' self-awareness was rarely studied in the authentic leadership study to date, it was found to play a role in the authentic leadership process into organizational outcome. It is argued that the followers' self-awareness as a mediating role between authentic leadership and organizational outcome seems to be more appropriate than the leader' s identification of previous thesis in explaining the authentic leadership effect.

• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.541-549
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• 2018

The study aimed to research the impact of ethical leadership on the psychological ownership and organizational commitment of employees in deluxe hotels located in Seoul. It also tried to determine the mediating effect that the employees' psychological ownership has contributed to the relationship between ethical leadership and organizational commitment in hotel firms. For the purpose of empirical testing, 300 respondents from deluxe hotels were surveyed and the hypothesis was tested through regression analysis. The results of this study are, that ethical leadership affects organizational commitment and employees' psychological ownership has a mediating effect between ethical leadership and organizational commitment. The results of this study suggests building management systems that recognize the importance of ethical leadership and psychological ownership by employees for competitive advantages.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.401-407
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• 2020

Earnings management behavior is the use of accounting procedures, through accounting policies, to intentionally purposeful control in the provision of information to users. The purpose of this paper is to examine the relationship between ownership structure factors and earnings management behavior of 30 Vietnamese commercial banks. The paper uses the ordinary least square method to examine this relationship and employs time series data of 15 years from 2005 to 2019. The study also uses agency theory an asymmetric information theory. The authors examined six independent variables related to the ownership structure and these variables are typical of Vietnamese commercial banks. The results of the study show that the foreign ownership ratio is an opposite effect, while the ownership concentration variable has a positive effect on earnings management behavior of Vietnamese commercial banks. Based on that, the article proposes a number of policy suggestions for the State bank of Vietnam and Board of directors of commercial banks as well as investors to identify and to limit the earnings management behaviors of Vietnamese commercial banks. This contributes to ensuring information transparency as well as improving the quality of accounting information of Vietnamese commercial banks in the coming years.