• Title/Summary/Keyword: Professional CEO

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How Firms Transfer Financial Risks to Employees: Stock Price Volatility and CEO Power

  • Sohn, Joon-Woo;Lee, Jae-Eun;Kang, Yun-Sik;Lee, Jae-Hyun
    • Asia-Pacific Journal of Business
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    • v.13 no.3
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    • pp.59-71
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    • 2022
  • Purpose - We investigate how firms transfer financial risks to employees in a form of flexible employment contracts and layoffs. Design/methodology/approach - Based on the literature on the prevalence of shareholder value ideology and the associated 'risk shift', we examined how stock price volatility is associated with a firm's use and hiring of nonstandard employees, and the number of employees lay-offed. We test our hypotheses using a longitudinal, multi-source, dataset of Korean firms from 2003 to 2011. Findings - We found support for the relationship between stock price volatility and flexible employment contracts and layoffs after controlling for actual risks such as increased debt or decreased sales. However, we found that the relationship is moderated by the power of professional CEOs relative to that of shareholders, in that powerful CEOs are more likely to transfer the external risks, i.e. stock price volatility, to employees. Research implications or Originality - This study contributes the emerging stream of literature that explore the effect of stock market pressures and governance structures on human resource management.

A Case Study on Corporate Social Responsibility(CSR) of Domestic Cosmetics Companies (국내화장품기업의 사회공헌활동(CSR)에 대한 사례분석)

  • Yoon, Jin-Suk;Lee, Jae-Ha
    • Journal of Convergence for Information Technology
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    • v.8 no.5
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    • pp.219-228
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    • 2018
  • The purpose of this study is to analyze the cases of social contribution activities of cosmetics companies and to suggest directions for related activities to be continued more effectively in the future. The case was analyzed through the report, public information, and interview with the person in charge. The main results derived from previous studies and case studies. First, social contribution activities of cosmetics companies are performed in a variety of ways such as education, business, medical care, health, environmental protection, culture, art, donation etc. Second, corporate social contribution activities and diversity were found to be highly correlated with firm size. Third, the effectiveness of social contribution activities can be enhanced through collaboration with social enterprises and professional organizations. Forth, strategic approach to social contribution activities, systematic public relations, and CEO's sense of responsibility have a major influence on related activities. Based on the results of this study, it has been suggested that CSR activities of cosmetics companies can be made more effective.

Science Technology and Manpower Policy (과학기술 정책 방향과 인력정책)

  • 문해주
    • Journal of the Korean Professional Engineers Association
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    • v.37 no.2
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    • pp.34-36
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    • 2004
  • 우리나라의 과학기술은 지난 40여년간 국가 산업발전에 발맞춰 고도성장을 효과적으로 뒷받침, '60-'70년대 모방$.$학습단계 '80년도 내재화단계를 거쳐 '90년대이후 신기술 개발경쟁에 뛰어드는 혁신단계로 진입, 장기간의 과감한 투자로 과학기술역량이 급신장, 연구개발비 '67년 48억\$\longrightarrow$'02년 17조 3,251억원(세계 6위), 연구원수 '68년 5,024명 \$\longrightarrow$'02년 18만 9,888명(세계 9위), 미국내 특허출원 10년간 평균증가율 32%(OECD 국가중 1위) SCI 논문게재수 5년간 평균증가율 15%(세계4위), 그러나 선진국과 비교할 때 양적$.$질적으로 미흡, '02년을 기준으로, 연구개발투자는 미국의 1/20, 일본의 1/10, 독일의 1/3수준에 불과, '01년 기준 상위 20개 기업의 연구개발비 총액은 50억불 정도로, Ford(74억불), GM(62억불)보다 적음, 인구 천명당 연구원 수 (2,98명)도 주요국에 비해 부족 일본 7.07명, 러시아 6.98명, 독일 5.90명, 대만 4.77('01년, IMD), 특히 신성장산업의 창출과 산업의 고도화에 직결되는 핵심원천기술이 취약, SCI 게재논문수는 세계 14위이나, 논문의 질적 수준을 나타내는 피인용도는 세계 31위('02년), 10대 성장동력 10대 산업과 관련되는 핵심기술의 평균 기술수준은 최고 대비 69.8%, 기술격차는 4.2년 - 디지털 TV/방송산업 74.9%/기술격차 3.1년, - 바이오 신약/장기 산업 61.2% 수준, 과학기술 및 과학기술자에 대한 사회적 인식이 낮음, 이공계 출신의 사회 각 분야 지도층 진출비율이 매우 낮음(16대 국회의원 8%, 3급이상 국가공무원중 기술직 비율 17.1% 등), - 민간의 경우, 10대 기업 임원의 53%가 이공계 출신, 100대 기업 CEO의 38.4%가 이공계 출신, 대입수능시험에서 자연계 지원비율이 감소 -40.1%('99)\$\longrightarrow$34.7%('00)\$\longrightarrow$29.4%('01)\$\longrightarrow$26.9%('02)\$\longrightarrow$30.3%('03)\$\longrightarrow$31.5%\$\longrightarrow$'04)

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A Study on the Post Management Impact of Consulting Service for Small and Medium Enterprise in Korea (한국중소기업을 위한 컨설팅서비스의 사후관리 효과에 관한 연구)

  • Jung, Goo-Sang;Lee, Sung-Hee;Kim, Young-Jin;Kim, Sun-Ah;Kim, Tae-Sung
    • Journal of Digital Convergence
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    • v.10 no.6
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    • pp.159-169
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    • 2012
  • The purpose of this study is to analyze the post management impact of consulting service for small and medium enterprise in Korea using hierarchical multiple regression analysis. The results show that first, consulting activities have an effect on the consulting performance. Second, this research found that post management is an important moderate variable between consulting activities and performance. This study have an important meaning that we confirm a part of the knowledge management service for the consulting service, which is considered temporary task, to practice sustainability business.

A Study on the Fashion Image Coordination of Modern Men (현대 남성의 패션이미지 연출에 관한 연구)

  • Lee, Eun-Sook;Kim, Sae-Bom
    • Journal of the Korea Fashion and Costume Design Association
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    • v.14 no.3
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    • pp.93-109
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    • 2012
  • The purpose of this study is to examine the modern men's fashion coordination to see the image in the center of TV dramas in terms of Habitu that is formed within hierarchy and class. The subjects range is included fashion style, color, accessories, hairstyle and appearance. 950 pictures used in the analysis sheet. In research methods, content analysis and basic statistics were used. The results of this study were as follows. First, the hierarchy image formed by Habitus is significant difference. The upper layer is coordinating elite luxurious and prestigious image of the fashion styles. The middle layer is coordinating neat and capable image. The lower layer does not care about the appearance and image appearing weary life is coordinating. Second, the class image formed by Habitus, CEO often interests in fashion image coordination. Senior executive is represented clean and luxurious image. General white color dresses in a suite such as office look. Blue color does not care about the fashion coordination and is expressed an easy dress for labor. Architects of the unstructured free-spirited image is represented. Physician and resident physician dress in shirts, no pattern tie, pants, robe. And they is coordinating neat and tidy attire to represent professional and reliable image.

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Factor Analysis of TQM in Medical Library (의학도서관의 총체적 질 관리(TQM) 요인분석)

  • Kim Seonghee;Jung Eun-Ah
    • Journal of Korean Library and Information Science Society
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    • v.36 no.2
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    • pp.307-325
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    • 2005
  • The paper examined and analyzed the factors affecting TQM in Medical libraries. The questionnaire was used for collecting data and the ANOVA and T-TEST were used for analyzing data. The results showed that librarians positively recognize the need of TQM in Medical libraries. However, the results showed that library system needs to improve the reward system for effective performance of the work. Finally, this study showed that librarians need to be well-qualified person as a professional with the CEO of strong leadership for successful TQM.

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The Influence of SME Manager's Leadership and Organizational Identification on Job Satisfaction: Focusing on the Mediating Effect of Organizational Trust among SME Workers (중소기업 관리자의 리더십, 조직동일시가 직무만족도에 미치는 영향력: 중소기업 종사자의 조직신뢰의 매개효과를 중심으로)

  • Hwang, Su-Gwang;Ha, Kyu-Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.17 no.5
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    • pp.223-235
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    • 2022
  • The satisfaction and performance levels of employees also depend upon the leadership styles adopted by corporate leaders. Meanwhile, organizational identification is a fundamental organizational behavioural concept in business that influences employee belongingness with the organization. Taking into account the relevance of this research topic, this paper aims to understand of organizational identification and leadership styles in SMEs. It also investigated the mediation role of organizational true. For the analysis, a questionnaire survey was conducted on employees of SMEs, and the collected data were analyzed using the hierarchical multiple regression analysis. Analysis results are as follows: First, out of leadership style, transformational leadership, transactional Leadership had a positive effect on job satisfaction. Second, organizational identification had a positive effect on job satisfaction. Third, in the relationship between leadership, organizational identification and job satisfaction, the mediating effect of organizational true had significant transformational leadership→organizational truer→job satisfaction, transactional leadership→organizational truer→job satisfaction, organizational identification→organizational truer→job satisfaction. The results of this study show that the role of middle managers is very important in SMEs. The leadership of SME managers can also be linked to organizational performance through the job satisfaction of workers. Therefore, SME' CEO should provide opportunities to receive professional training on the leadership of middle managers. In addition, SME' CEO need a strategy to instill a positive image of the organization in workers through the organizational vision.

Strategies for Continuous Transactions with Customers for B2B Software Retailers: Case Study (B2B 소프트웨어 유통 중소기업을 위한 고객과의 지속거래 유지 전략: 사례 연구)

  • Choi, Yong-Jun;Kim, Wan-Ki
    • Journal of Distribution Science
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    • v.16 no.12
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    • pp.81-93
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    • 2018
  • Purpose - The purpose of this study was to propose a specific and empirical continuous transaction strategy through service quality of improvement to small and medium Korean companies whose main business is B2B distribution and sale of general-purpose SW. Research design, data, and methodology - The research procedure is largely divided into two phases. In the first phase, the service quality, the customer satisfaction, and the continuous transaction research hypothesis and the verification are carried out. Experimental data were collected from 450 companies, CEO companies of SMEs innovation institutes, and 510 companies from medium and large enterprises. From September 15 to October 5, 2015, 215 questionnaires were used. And research hypothesis and test were conducted by SPSS SW Ver. 20. Results - The results of the study confirm that service quality has a positive effect on customer satisfaction and continuous transaction: as the detailed items for improving the service quality, 'responsiveness', 'assurance' and 'empathy' have been adopted. Therefore, there are critical factors of a company's survival through continuous transaction. Conclusions - Through this study, we confirmed that the survival of small businesses require continuous improvement in service quality. Among the factors improving service quality, empathy means service satisfaction of customers; so, it is necessary to continuously improve it by evaluating customer satisfaction. Responsiveness means rapid response to customer needs and reliability; it is necessary to enhance customer responsiveness by continuous job training and service training. Finally, assurance is the same as sales product or after service. This means that it is necessary to not only issue the "supply contract," but also improve the reliability of the sales product by securing the competence of the consulting professional. However, because the service quality measurement factors selected in this study are the measurement factors that are mainly applied to large companies or those in the service industries, it is important to consider the type of sales of software distribution companies.

A Study on Practical Approaches for CSR in Small and Medium-Sized Enterprises in Korea (한국 중소기업 CSR 경영 실태 분석과 개선방안에 관한 연구)

  • Jeung, Gil-Chea
    • Journal of Industrial Convergence
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    • v.18 no.2
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    • pp.87-94
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    • 2020
  • This paper belongs in a literature of sustainablity policy determination. This paper offers an actual status and explanation to corporate social responsibility of SMEs in Korea. This study examines CSR situation focused on developing mechanisms to enable the SMEs sector. Firstly, this study suggests introducing the third-party professional assurance service on sustainablity reports and/or asking global accreditation such as ISO14001 and ISO26000 when entry as a provider in government e-procurement system. Secondly, this study introduce the CSR Committee headed by the CEO and coordinates group-wide committees to discuss the CSR Guidelines. Third, because CSR does not only have to do with the SMEs, but pertains to the local community and business partner, this study offered the opportunity to work with large companies in aspects of CSR.

R&D Investment and Firm Value: Focusing on the Moderating Effect of Corporate Governance and Ownership Structure (연구개발투자와 기업가치: 소유 및 지배구조의 조절효과를 중심으로)

  • Sul, Won-Sik
    • Journal of Industrial Convergence
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    • v.19 no.5
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    • pp.13-19
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    • 2021
  • In this study, the relationship between R&D investment and firm value was approached from ESG's G(governance) perspective to verify the moderating effect of the corporate governance and ownership structure. To this end, a panel analysis was conducted on a total of 2,825 samples of 405 manufacturing companies listed on the KOSPI market during 2013~2020. The main analysis results are as follows. First of all, we found that R&D investment has a negative impact on firm value, at least in the short term, and that these relationships are moderated by corporate governance and ownership structure. When professional CEO with high level of expertise in business and management does lead R&D investment, the negative impact of R&D investment on firm value is mitigated compared to owner-manager. Also, the stronger the power of outside blockholders, the more transparent the management and disclosure of information, alleviating the information asymmetry between internal and external shareholders, which mitigates the negative impact of R&D investment on firm value. The findings suggest that the factors of ESG may not only have a direct impact on firm value, but also have a moderating effect on firm value.