• Journal of the Korea Society of Computer and Information
• /
• v.3 no.2
• /
• pp.209-216
• /
• 1998

The Korean economy has been under the IMF-led rescue programs since the late 1997. For the transparency of financial currency, Korean government had made the Korean firms which are depend on each other financially compose the consolidated financial statements since 1985, because South Korea's financial crisis has been caused by a string of corporate failures that have put enormous strain on the banking system at a time when the won was plunging against the dollar. But there are many problems to get the transparency in the actions and accountability of both public and private institutions, because of the domestic corporations' structural characteristics and the law of accounting. This paper reviewed, therefore, some problems on the consolidated financial statements and advantages to introducing the combined financial statements through comparing the contents of those statements

• International Journal of Internet, Broadcasting and Communication
• /
• v.13 no.1
• /
• pp.123-133
• /
• 2021

We study confirmed the factors influencing the organizational culture(collective culture, development culture, rational culture, hierarchical culture) perceived by members of the organization and the manager's authentic leadership(self-awareness, balanced information processing, relational transparency, internalized moral perspective) on job crafting. In addition, the relationship between organizational culture and authentic leadership was empirically analyzed. In order to verify the hypothesis of the research model, the survey results of 269 parts were verified as follows using the statistical program of SPSS 24.0. First, the organizational cultures perceived by members of the organization, development culture and rational culture, showed positive (+) influence on job crafting. In other words, Hypothesis 1 established by the research model was partially adopted. Second, the group culture, development culture, and rational culture of organizational culture were statistically significant in the relationship between the hypothesis 2 organizational culture and authentic leadership. In other words, Hypothesis 2 was partially adopted. Third, the three hypotheses of authentic leadership (self-awareness, balanced information processing, relational transparency, and an internalized moral perspective) all showed positive (+) effects on job crafting. As a result of this study, it was possible to confirm the importance of the organizational culture that improves the job-crafting of the members of the organization and the strategic activation plan for authentic leadership. Therefore, the necessity of strategic human resource development for the development and application of programs to revitalize organizational culture and improve the manager's authentic leadership has emerged.

• Journal of Digital Convergence
• /
• v.10 no.10
• /
• pp.19-29
• /
• 2012

We made a regression analysis on the early IPO of venture capital investments in Korean IPO market. First, we found that it was likely to shorten the period to IPO in companies which were fast growing with a good operating cash flow, but these companies had a higher possibility of the earning management. Second, companies with more assets and larger size of the board of directors did not take companies public any earlier. Third, a better corporate governance also had no impact on the time period to IPO in the newly public firms. The findings above clearly show that venture-backed companies in Korea pursue the tendency of an early IPO. This phenomenon was much clearer when the companies were invested in by multiple venture capital firms than by a single investor. In general, venture capital firms invest in companies which are fast growing and which have a good operating cash flow. On the other side, venture capitals make investee companies go public earlier by manipulating operating earnings, so that they themselves may exit early. In conclusion, this research has shown that venture capitals in Korea do not play a positive role in the corporate transparency. This is the paradox of venture capital investment and this also shows the current status of Korean venture capital firms.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.1
• /
• pp.59-69
• /
• 2019

The auditor, an important instrument of corporate governance, ensures the transparency and accountability of the firm to the stakeholders. The objective of this paper is to explore the impact of audit characteristics on firm performance. In this study, external audit quality (BIG4), frequencies of audit committee meetings, and audit committee size are used as the proxies of audit characteristics and firm performance is measured through ROA, profit margin and EPS. A total of 503 firm years are considered as sample size from the listed manufacturing firms of Dhaka Stock Exchange (DSE) during the period of 2013 to 2017 to find out the impact of audit characteristics on firm performance. In this study, multivariate regression analysis is conducted using the pooled OLS method. Moreover, time dummy and lag model of multivariate analysis are also analyzed as robust check. The multivariate regression results find that external audit quality (BIG4) and audit committee size are significantly positively associated with firm performance. This study also finds that there is a significant negative relationship between audit committee meeting and firm performance. This study recommends that the regulatory authority and audit committee should review the frequencies of audit committee meeting to make it more effective to ensure better firm performance.

• The Journal of Fisheries Business Administration
• /
• v.33 no.2
• /
• pp.99-125
• /
• 2002

Fisheries cooperative requires dual characteristics in performing its original function. Economic characteristic as an business enterprise and democratic characteristic as cooperative entity need to complete its objectives and survive in the complex rapidly-changing environment. After IMF crisis, fisheries cooperative received enormous government's financial support and credit-business department is perfectly under government's control. Regional fisheries cooperative also faces business failure, therefore pure cooperative movement can't save the fisheries cooperative. Economic characteristic as an business enterprise is more emphasized than democratic characteristic as cooperative entity in recent years. The theory of corporate ownership and governance can be applied to explain the ownership and governance of fisheries cooperative because fisheries cooperative is now similar to an business enterprise. During the IMF crisis the board, the auditors and the minority shareholders in business enterprise were revealed to be powerless against the mighty influence of controlling shareholders. Unconstrained discretion exercised by those controlling shareholders not only led to the firms'insolvency, but also brought down the country's financial system. During the past few years, Korea has experienced many institutional changes regarding its corporate governance structure. The introduction of outside directors, the strengthening of minority shareholders' rights, and enhanced accounting transparency are achieved to improve the efficiency of economic system. Investors, including institutional and individual, also seem to be more aware of governance issues now. Credit-business department of fisheries cooperative is recommended to introduce the institutions same as the case of the corporate governance structure. Fisheries cooperative except economic and credit-business department requires other prescriptions because it is emphasized as democratic cooperative entity. But we should be careful to interpret the ownership and governance structure because they are products of nations, eras and organizations.

• The Journal of the Korea Contents Association
• /
• v.18 no.11
• /
• pp.298-305
• /
• 2018

This paper explored the impact of adaptive efforts for the 4th Industrial Revolution(hereafter, 4IR) on social cohesion at national level. To examine this relationship, Latent Growth Model was applied to thirty one OECD membership countries, 2006-2015. Adaptive efforts for 4IR was measured by the 4IR Relative Readiness(WEF, 2016) and social cohesion was measured by Corruption Perception Index(Transparency International) and trust on politicians(WEF). Results showed that corruption perception significantly decreased by the 4IR Relative Readiness and legal protection(judiciary independency and corporate ethics) and trust on politicians significantly increased by judiciary independency. These results imply that public and corporate efforts for the 4IR does not necessarily have negative impact on social cohesion as long as legal protection such as judiciary independency and corporate ethics are equally pursuit at national level.

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

• East Asian Journal of Business Economics (EAJBE)
• /
• v.10 no.3
• /
• pp.41-50
• /
• 2022

Purpose - Through multinational corporate ethics and environmental, social, and governance (ESG), various policy and strategic countermeasures for transparent management in the management and economic fields are presented. Research design, data, and methodology - A literature review is conducted to find important areas for transparent management and to summarize and present transparent management countermeasures based on simple brainstorming opinions from experts. Result - Issues facing transparent management are presented. In particular, multinational enterprises present cases involving prevention of transfer prices and tax avoidance in relation to Industry 4.0. Additionally, a plan is presented to establish a corruption-free economic system through the practice of ESG transparency, ethical management of social enterprises, and transparent management. Conclusion - According to the brainstorming opinions of experts, ESG management and ethical management should be the cornerstone of transparent management in the future. Therefore, it is necessary to institutionally supplement the imposition of digital taxes on fourth industrial companies.

• Management & Information Systems Review
• /
• v.32 no.4
• /
• pp.27-51
• /
• 2013

The present study focuses on ethical leader ship of people who are member of organization. The survey was conducted to 209 spectators who participated in the corporate organization. Collected data were analyzed through the statistical and analysis program SPSS. Correlation analysis and multiple regression analysis were conducted for analyzing the influence of ethical work climates on ethical leader ship and organizational citizenship Behavior. The results are below. First, the result of analyzing the relationship between ethical work climates and Ethical leader ship shows that principle have a positive impact on distributive justice, procedural justice, transparency, contribution, integrity and benevolence have a positive impact on procedural justice, contribution, integrity. Second, the result of analyzing the relationship between ethical leader ship and organizational citizenship behavior shows that transparency has a positive impact on conscientiousness, and integrity has a positive impact on sportsman ship. We discuss the implications of the results for the theory and the future research on the ethical leader ship.

• Asia-Pacific Journal of Business
• /
• v.12 no.2
• /
• pp.115-129
• /
• 2021

Purpose - This study aimed to clarify the effects of tax investigation probability on accounting transparency in KOSDAQ firms by using financial statement. In particular, it was analyzed whether the characteristics of a firm's listed market have a discriminatory effect on the relationship between the tax investigation selection rate (or detection rate) and earnings management. Design/methodology/approach - This paper examines analyzed the effect of tax investigation of the National Tax Service on the earnings management. The sample includes 9,603 firms listed on KOSPI and KOSDAQ from 2011 to 2018, all of which are manufacturing firms. This study conducted correlation and multiple regression analyses to verify the relationship between tax investigation probability and earnings management. The possibility of a tax investigation is the selection rate and the detection rate, and the profit adjustment was estimated at discretionary amount. Findings - As a result of empirical analysis, both firms listed on KOSPI and KOSDAQ markets showed that the higher the tax investigation rates, the more significant the possibility of reducing the earnings management of discretionary accruals. Additionally it was found that in KOSDAQ markets firms, the tax investigation detection rates had a signigicant nagative effect on discretionary accruals. Research implications or Originality - It can be interpreted that firms with a high rates of receiving a tax investigation decrease earnings management consideration of expenses such as additional tax amount due to the tax audit or a decline in corporate image.