• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.135-142
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• 2021

This study aims to examine the impact of audit committee characteristics on income management of companies listed on the Stock Exchange of Vietnam. Research data was collected from all 745 listed companies on Vietnam's stock market over four years, from 2015 to 2018. After excluding companies that did not qualify, there were 216 companies with 864 observations. With the help of dedicated software Stata 15, the impact of audit committee characteristics (through independent variables and control variables such as Audit Committee Independence, Auditing Committee size, Auditing Committee Expertise, Auditing Committee Meeting Frequency, Company Size, Financial Leverage, and Operating Cash Flow) to earning management through a multivariate regression model was determined. Research results from Vietnamese listed companies during this period show that the size and expertise of the audit committee are inversely related to the discretionary accruals representing earning management. At the same time, the research results also identify a positive relationship between firm size and earning management, and the inverse relationship between financial leverage, net cash flow from operating operations and earning management. However, the multivariate regression results do not find clear evidence of a relationship between audit committee independence and the audit committee meeting frequency to earning management.

• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.1-30
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• 2019

The involuntary delisting of public companies has a detrimental effect on economies caused by the loss of stock value and confidence in the capital market. Previous studies have focused on prediction or prevention models for firm delisting events using various financial and accounting information. However, the timely disclosure of companies, another important indicator, has not been investigated before in connection with companies that have been delisted. To address this gap, this study investigates the timely disclosure behavior of companies prior to delisting using sample firms listed on the Korean stock market between 2000 and 2014. The results show a significant correlation between the frequency of timely disclosure and delisted firms prior to their delisting on the Korean stock market. The delisted companies appear to increase their timely disclosure to deliver specific information to the public. Furthermore, these companies are likely to increase the frequency of timely disclosure as they get closer to their delisting. Notably, the timely disclosure of delisted firms has a capital market effect; namely, timely disclosure increases trading volume while decreasing the market value of the shares, reflecting price efficiency. This study appears to be the first that considers timely disclosure in the involuntary delisting literature.

• Journal of the Korea Safety Management & Science
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• v.24 no.3
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• pp.15-21
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• 2022

This study examined the certification effects of safety and health management system (SHMS) on the establishment level of SHMS and accident statistics in construction industry. This study obtained the establishment level of SHMS for 106 construction companies surveyed from our previous study. In addition, three major accident statistics (mortality rate, accidental mortality rate, and injury rate) for the companies were collected from the database in Korean Occupational Safety and Health Agency. The statistical analysis results revealed that the establishment level for SHMS certified companies was significantly higher than those for uncertified or certification preparing companies. Furthermore, SHMS certified companies showed significantly smaller accident statistics compared to uncertified or certification preparing companies. The results of this study support the positive effects of SHMS on reducing major industrial accidents in construction companies.

• Journal of Korea Trade
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• v.23 no.6
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• pp.93-112
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• 2019

Purpose - First, this study contextually examines the governance codes of South Africa and South Korea. Second, it analyzes board features of South African (JSE) Mainboard and South Korean (KRX) KOSPI-listed companies. Design/methodology - This review is qualitative and uses data from the annual reports of the selected markets' companies, respective exchanges' official web sites and corporate governance-related web sites in order to examine the corporate governance practices in the two markets. In addition, Nvivo is employed in analyzing the content of the corporate governance codes of the selected countries. Findings - Our analysis indicates that the corporate governance codes of the two countries are evolving to keep up with the international trend of principles-based approach. The composition of the board of directors (BODs) of non-financial companies of both South Africa and South Korea shows no significant variation between the companies with regards to the executive (inside) and nonexecutive (outside) directors. On the contrary, there is a significant variation between South African and South Korean listed companies with respect to diversity. Originality/value - While previous studies are centered on the impact of governance codes on performance, this study intends to contextually evaluate the codes and features of South Africa and South Korea listed companies. This is essential and timely for regulators and policy makers given the importance of corporate governance features such as board independence and diversity in recent times.

• Journal of the Korean Society of Clothing and Textiles
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• v.46 no.2
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• pp.331-348
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• 2022

This study explores the value structure of experiential rental Hanbok companies using the means-end chain theory. For this, soft laddering was conducted for nine experiential rental Hanbok companies located in Jeonju Hanok Village. Next, the value structure was created. The results are as follows. First, the elicited values are in the following order: "creation of wealth," "promotion of Korean culture," "aesthetic value," "self-actualization," "community development," and "transmission of tradition." Second, most attributes are connected to "creation of wealth." Third, "promotion of Korean culture" and "community development" are similar to Holden's instrumental values. Fourth, some attributes linked to "aesthetic value" express what the experiential rental Hanbok companies consider to be beautiful. Fifth, the companies pursue "company satisfaction" through "consumer satisfaction" and "company differentiation," which leads to "self-actualization" and "aesthetic value." Sixth, it seems that "transmission of tradition" can be achieved through "expertise/expert training," indicating that some companies think expertise is necessary for the transmission of Hanbok and do it. This study is significant because it is a new attempt to understand the core values of experiential rental Hanbok companies and provides insights into their growth.

• International journal of advanced smart convergence
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• v.12 no.2
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• pp.193-200
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• 2023

This paper selects 100 IT companies listed on the Shenzhen Stock Exchange from 2016 to 2020, and the public announcement in Hwajung collects ESG integrated ratings and grades for each sector and empirically verifies the relationship between ESG ratings and stock returns. Huazheng ESG level data and QIANZHAN database Using corporate financial data, a total of 500 samples were selected through correlation analysis and linear regression analysis with SPSS23 to analyze the effect of ESG on Return. As a result of the analysis, first, the impact on stock returns was found to be a significant positive (+) value for ESG integrated ratings and ratings by E (environment), S (social), and G (governance) sectors, confirming that ESG ratings have a positive mold of corporate stock returns. Currently, the world's major economies have proposed sustainable development strategies and "carbon neutral" goals. Development strategies are very consistent with ESG concepts, and companies that agree and execute ESG concepts may have higher ratings than other companies in the same industry, resulting in certain evaluation premiums. In addition, capital market performance in recent years shows that companies with ESG concepts or "carbon neutrality" concepts are generally considered to have higher growth potential and stronger anti-risk capabilities in the market. For listed companies, they should focus on ESG investment, improve ESG performance, and actively disclose related information to investors. Improving ESG performance should deliver positive information to society, enhance corporate image, increase market confidence in the future development of listed companies, and positively improve corporate value to actively increase financial, financial, trading, and other aspects of negotiation.

• International Journal of Advanced Culture Technology
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• v.11 no.2
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• pp.389-396
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• 2023

This paper selects 100 IT companies listed on the Shenzhen Stock Exchange from 2016 to 2020, and the public announcement in Hwajung collects ESG integrated ratings and grades for each sector and empirically verifies the relationship between ESG ratings and stock returns. Huazheng ESG level data and QIANZHAN database Using corporate financial data, a total of 500 samples were selected through correlation analysis and linear regression analysis with SPSS23 to analyze the effect of ESG on Return. As a result of the analysis, first, the impact on stock returns was found to be a significant positive (+) value for ESG integrated ratings and ratings by E (environment), S (social), and G (governance) sectors, confirming that ESG ratings have a positive mold of corporate stock returns. Currently, the world's major economies have proposed sustainable development strategies and "carbon neutral" goals. Development strategies are very consistent with ESG concepts, and companies that agree and execute ESG concepts may have higher ratings than other companies in the same industry, resulting in certain evaluation premiums. In addition, capital market performance in recent years shows that companies with ESG concepts or "carbon neutrality" concepts are generally considered to have higher growth potential and stronger anti-risk capabilities in the market. For listed companies, they should focus on ESG investment, improve ESG performance, and actively disclose related information to investors. Improving ESG performance should deliver positive information to society, enhance corporate image, increase market confidence in the future development of listed companies, and positively improve corporate value to actively increase financial, financial, trading, and other aspects of negotiation.

• Asia-Pacific Journal of Business
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• v.14 no.1
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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.

• Journal of Navigation and Port Research
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• v.48 no.2
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• pp.104-108
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• 2024

This study investigates the relationship between national controlling fleets and the managerial performance of ship management companies in Korea. As industries clearly show interrelations between upstream and downstream entities , it is likely that the managerial performance of ship management companies in Korea is affected by the size of national fleet. Therefore, the present study analyzes the impact of Korean fleet size on the growth and the profitability of ship management firms. To this end, the performances of 10 major ship management companies in the period from 2012-2022 are examined through panel data regressions. The results indicate that the size of the national fleet has a positive impact on growth in both the assets and the sales of ship management companies. Specifically, the size of the Korean-flagged fleet is the most crucial factor, while that of the foreign-flagged fleet has no significant effect. In stark contrast to the findings regarding growth, the size of national fleet is found to have no significant impact on the profitability of ship management companies. This study's findings are expected to provide valuable implications informing both the managerial decision-making of ship management companies as well as policy-making for shipping and its related industries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.199-209
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• 2019

The importance of business strategy for successful social media engagement has quickly increased as more businesses engage in social media. The importance is even greater for startup companies because startup companies are genuinely new to business, and they need to increase their presence in the market, and quickly access future customers. The objective of this paper lies in exploring key indicators of social media engagements by selected startup companies. The key indicators include two aspects of social media usages by the companies: i) overall social media activities, and ii) properties of network structure of the information flow platform provided by social media service. To better assess and evaluate the key indicators of social media usages by startup companies, the indicators will be compared with those of selected large established companies. Twitter is selected as a social media service for the analysis of this paper, and using Twitter REST API, data regarding the key indicators of overall Twitter activities and the Twitter follower-network of each company in the sample are collected. Then, the data are analyzed using social network analysis and hierarchical clustering analysis to examine the characteristics of the follower-network structures and to compare the characteristics between startup companies and established companies. The results show that most indicators are significantly different across startup companies and established companies. One key interesting finding is that the startup companies have proportionally more influencers in their follower-networks than the established companies have. Another interesting finding is that the follower-networks of startup companies in the sample have higher modularity and higher transitivity, suggesting that the startup companies tend to have a proportionally larger number of communities of users in their follower-networks, and the users in the networks are more tightly connected and cohesive internally. The key business implication for the future social media engagement efforts by startup companies in general is that startup companies may need to focus on getting more attention from influencers and promoting more cohesive communities in their follower-networks to appreciate the potential benefits of social media in the early stage of business of startup companies.