• Quality Improvement in Health Care
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• v.12 no.2
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• pp.93-112
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• 2006

This study reviewed published studies on interventions used by hospitals, health insurance programs, or governments to improve use of medicines in foreign countries. Interventions to improve use of medicines are classified into two categories: 1) information strategies-dissemination of educational materials, group education, one-to-one educational outreach, drug utilization review, and feedback; 2) managerial strategies- formularies, prior authorization, and financial incentives. Dissemination of educational materials, which is a common intervention, was unsuccessful in changing physicians' prescribing behaviors. Problem-based small group education was more likely to change behaviors than didactic large group education. One-to-one educational outreach(academic detailing) was among the most effective strategies used to change prescribing behaviors. Prospective drug utilization review (DUR) program was more successful in improving use of medicines than retrospective DUR program. Feedback intervention has been reported to be ineffective to change behaviors. Formularies are frequently used to control medication use by most health insurance programs. Financial incentives provide physicians economic incentives according to appropriateness of prescribing. However, few published studies have assessed the efficacy of formularies or financial incentives. Prior authorization requires physicians to get authorization from health insurers before prescribing a certain group of drugs which is usually of high costs or risk. There is no magic bullet for quality use of medicines. Multifaceted interventions that help to predispose, enable, and reinforce desired behaviors are more likely to be successful.

• The Korean Journal of Financial Studies
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• v.2 no.2
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• pp.133-169
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• 1995

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.853-866
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• 2020

The purposes of this research were: 1) to investigate the effect of participatory management on financial information asymmetry, 2) to investigate the effect of corporate governance on financial information asymmetry, 3) to examine the influences of benefits incentives on financial information asymmetry, and 4) to test the mediating effects of benefits incentive that influences the relationship between participatory management, corporate governance, and financial information asymmetry. The research sample consisted of 388 Thai-listed firms. Data were collected through a survey questionnaire. Descriptive analysis, Multiple Regression Analysis, and Structural Equation Modeling were used for the data analysis. The results revealed: 1) participatory management and participation in evaluation had a negative influence on financial information asymmetry. 2) Corporate governance and the rights of shareholders had a negative influence on financial information asymmetry. 3) Benefits incentive was negatively associated with financial information asymmetry. 4) The model's influences of participatory management, corporate governance on the reduction of financial information asymmetry through benefits incentive as mediator fit the empirical data (Chi-square = 104.459, df = 84, p = 0.065, GFI = 0.967, RMSEA = 0.025). The variables in the model explained 78.00% and 4.70 % of the variance of benefits incentive and financial information asymmetry, respectively.

• Management Science and Financial Engineering
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• v.10 no.1
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• pp.43-52
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• 2004

This paper empirically investigates potential factors that might affect firms' incentives to license out technology. The analysis is done with the help of a panel data set of observed licensing transactions involving U.S. public companies in high-technology industries. The important explanatory factors relate to the firm characteristics such as the company's stock of technological knowledge (patent stock). prior involvement in technology licensing. the company size, R&D intensity and capital expenditure. The results suggest that there seems to be significant inter-sectoral differences as well as similarities in determinants of the propensity to transfer technology through licensing agreements.

• Journal of Technology Innovation
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• v.11 no.2
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• pp.123-149
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• 2003

The paper examines the effects of tax incentives on corporate R&D expenditures. We regress tax incentives and financial variables on the increase or the level of corporate R&D expenditures. Tax incentive variables are the magnitude of R&D tax credit and the level of reserve for R&D, while financial variables are the amount or increase of R&D expenditures in prior years, profitability, cash flows and Tobin Q. Sample firms are selected among the listed companies which reported R&D expenditures in the financial statements from 1995 to 2000. The results indicate that increase and level of R&D expenditures is positively influenced by the magnitude of R&D tax credit and the level of reserve for R&D. The amount of R&D expenditures has positive relationship with prior one-year R&D expenditures, while the increase of R&D expenditures has negative relationship with prior year increase and recent three year's average of R&D expenditures. The evidence is consistent to the hypothesis and results of other studies, which suggest that tax incentives for R&D encourage the corporate R&D expenditures.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.193-200
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• 2021

This study investigates the impact of managerial ability and managerial incentives on firm performance. In particular, it studies how managerial ability factor can exert significant influence on the profitability and the risk of firms. By doing this, the study can provide several policy implications about how managerial ability can influence firm decisions and its corresponding business policies. Data of the study was collected from the Annual Enterprises Survey (AES), which is conducted by the General Statistics Office of Vietnam (GSO) during the 2009-2013 period. After removing firms with insufficient financial information, our final dataset includes over 50,000 firms in Vietnam. The main result of the study shows that there is a significant and positive relationship between managerial ability and firm leverage. This finding indicates that managerial ability significantly plays an important role in making financial decisions. In addition, our study provides empirical evidence about the causal relationship between managerial compensation and firm risk-taking behavior. Specifically, we find that firm risks are significantly associated with compensation schemes including lower delta and higher vega. In other words, our study implies that the sensitivity of CEO wealth to stock volatility can positively affect both delta and vega or managerial incentives schemes.

• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.85-97
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• 2018

This paper investigates factors underlying a decrease in trading values in KOSPI 200 futures/options market on the basis of the current state of the markets. Among the factors that could affect trading values in KOSPI 200 derivatives market, we focus on the market activity of underlying assets as it has an impact on the trading of financial derivatives. Trading value and volatility are designated as market activity and the empirical results confirm that the market activity of the underlying assets is significant in explaining the decrease in trading values in KOSPI 200 futures/options market. To figure out fundamental reasons of the decrease in trading values in this market, we examine mitigation of home bias and decrease in leverage incentives as they are presumed to have influence on KOSPI 200 index market. As the global and local financial environment is time-varying, the degree of home bias and the leverage demand also changes. It implies that institutional change and/or policy effort to promote the trading of KOSPI 200 financial derivatives should be made taking into account the fact that considerable portion of the change in trading values in financial derivatives market depends on the state of the market.

• Journal of Technology Innovation
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• v.12 no.2
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• pp.185-208
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• 2004

Production of goods and services always necessarily depends on the use of knowledge. The knowledge intensity of production , however, has increased manifold in the last two decades or so. This is clearly indicated by the rise in the share of knowledge intensive products, which are traded. The production and export of these advanced products are not confined to developed countries alone, but also among developing countries. But in the latter there is considerable concentration of it in a handful of countries primarily in the Asian region. Knowledge underlying production, whether industrial or non-industrial, embodies two types of knowledge: formal and non-formal. In this paper we are entirely concerned with the financing of the creation of formalized knowledge in the context of two similar Asian developing countries, namely Singapore and Malaysia. Three broad types of financial instruments are considered: research grants, tax incentives and venture capital. Both the countries are shown to be having very similar financial instruments for promoting innovation. The timing of these instruments is quite similar too. But one country has performed much better than the other. The main argument of the paper is that while financial instruments are a necessary input for innovation, the sufficient condition lies in the supply of a sufficient quantity of scientists and engineers.

• KDI Journal of Economic Policy
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• v.38 no.3
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• pp.1-15
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• 2016

Improving the quality of school education is one of the key policy concerns in Korea. This paper examines whether providing schools with adequate autonomy and incentives can meet the policy goals by looking at a recent policy reform in Korea. In 2009, the Korean government granted autonomy to certain private high schools on the condition that no financial subsidies would be provided to the schools. Because the autonomous private high schools cannot receive a subsidy, they have a strong incentive to meet parental demands because schools failing to meet these demands will lose students and will have to close. Applying the value-added model to longitudinal data at the student level, I find that students entering these autonomous schools show faster growth in their academic achievement than their peers in traditional non-autonomous schools. These results suggest that providing schools with autonomy and incentives can be a useful policy tool for improving school education.

• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.37-69
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• 2005

This study intends to verify whether stock repurchase, as well as stock dispositions, affects shareholder's wealth and also whether repurchase/dispositions has varying impact de-pending on its purpose. According to empirical analysis, announcement of stock repurchase results in positive abnormal returns when the objective of stock repurchase is stock price stabilization or cancellation of shares. However, when the purpose of stock repurchase is granting incentives to executives/employees, we get the negative abnormal returns. Also, the termination of stock trust for reason of expiration or stock dispositions of which goal is to give incentives to executive/employees has a negative impact on stock price, whereas direct dispositions of stock to raise cash or to improve financial structrue are shown to significantly increase the wealth of shareholders. Cross-section analysis also confirms that stock repurchase and dispositions has different impact on excess returns depending on its purpose. The results of this study imply that the dispositions of stock should be regarded as an important financial strategic tool to be used by companies and what's more, such studies dealing with stock repurchase or dispositions should take firm's purpose into consideration in their approach.