• 디지털융복합연구
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• 제13권2호
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• pp.105-113
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• 2015

기업지배구조가 우수하면 기업경영자의 감시역할을 하고 대리비용과 정보비대칭을 감소시킨다. 기업지배구조점수가 높을수록 기업 내부통제시스템과 재무보고 체계가 잘 갖추어져 있으므로 기업 경영이 활성화되고 기업성과가 높아지므로 신용재무평점이 높아질 것이다. 이러한 전제하에 가설을 설정하고 본 연구는 기업지배구조(CGI)가 신용재무평점(CFR)에 어떠한 영향을 미치는지 실증 연구하였다. 연구결과, 기업지배구조(CGI)와 신용재무평점의 관련성은 유의한 양(+)의 영향을 미치는 것으로 나타났다, 회귀계수부호는 기대부호인 양(+)이 값이 나타났다. 이러한 결과 기업지배구조(CGI)가 우수할수록 신용재무평점의 점수가 커질 것이라는 예측과 같은 결과가 나타났다. 본 연구결과는 CGI가 우수할수록 신용재무평점이 커진다는 것이다. 본 연구는 기업의 사회적 책임, 건전한 지배구조와 감시기구를 갖춘 기업이 보다 높은 신용등급을 받을 수 있다는 유용한 지침을 실무 및 연구 분야에 제공해 줄 것으로 기대한다.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.219-228
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• 2022

High-profile corporate crises have sparked a surge in interest in corporate governance (CG) and corporate reputation (CR). Company governance issues in many companies contribute to corporate failures and a bad reputation. Transparency is the glue that holds any group or organization together while also connecting it to a coalition of key stakeholders. This research focuses on how corporate governance factors (such as board independence, board size, board meetings, and board gender) and company characteristics affect the reputation of Malaysian public listed companies (PLCs). Many studies have looked into the characteristics of corporate governance in Malaysian businesses. However, none of the research has explored this issue using the new reputation measurement. A sample of the 100 largest companies listed on Bursa Malaysia based on their market capitalization for the year ended 2018 was selected. A new measurement, the disclosure index, was created and used to analyze reputation disclosure in the annual report of a corporation. The independent director, board size, and board meeting were statistically significant and associated with the level of reputation disclosure, according to the findings of this study. The results suggest that company directors prioritize good governance and management quality to boost their firm's reputation and acquire a competitive edge.

• 국제학술발표논문집
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• The 4th International Conference on Construction Engineering and Project Management Organized by the University of New South Wales
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• pp.413-419
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• 2011

Corporate governance is a system articulating the division of responsibilities among different company members, and defining the running rules and procedures for making decisions on corporate affairs. The separation of ownership and management in modern enterprises brings agency problems to the company shareholders, and it is wildly believed that good practice on corporate governance is essential to prevent managers from taking actions by which profiteering their own benefits but compromising the interests of shareholders. This research investigates the level of companies' compliance with the corporate governance codes to find whether significant differences in corporate governance practice exist between the listed construction companies and the national leading companies in Taiwan. Further exploration focuses on the correlation between the compliance level and the industrial features. The investigation finds that: (1)Construction companies display lower levels of corporate governance compliance; (2)Construction companies display lower levels of structural board independence and respect for stakeholders; (3)Compliance levels of construction companies are correlated with the number of employees and the ownership concentration; (4)Compliance levels of the whole sample companies are correlated with the factors representing firm size, such as turnover, capital and number of employees, but are independent of profitability as well as stock price volatility. The above empirical evidence characterizes the features of corporate governance in Taiwan listed construction companies, including: (1)Large companies lurking high risk of agency problems have more willingness to conduct corporate governance and meanwhile can afford higher costs for the conduction, so that their compliance level would be higher than smaller companies; (2)Construction companies in Taiwan have higher ownership concentration, on account of the industrial tradition of family business, and therefore pay less attention to the compliance with structural board independence and respect for stakeholders. However, the conclusions indicate that further studies are essential to clarify whether the above disparities would lead to a negative cycle of corporate governance practice in construction industry. The benefits of corporate governance should unfold more evidently to convince construction companies for improving their investment environment and stimulating their healthy growth.

• 동아시아경상학회지
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• 제3권1호
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• pp.1-7
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• 2015

Ethics suggest that all persons are by nature moral, as it would not be possible for humans to exist collectively or even individually without an innate ethical sense. In order for the public sector to thrive in business, the board of directors needs to be guided by ethics and take into account the abiding interests of humanity and public good. It is argued in this paper that the abuse of power in the public sector has often been associated with unethical leadership and conducts which undermines the ubuntu notion. The irregularities which often arise in the awarding of tenders in the state-owned companies are some of the challenges that are prone to the public sector. In order to address these challenges and promote a flourishing democracy it is argued that ethical leadership as envisaged in the King III Report needs to be adhered to by the boards of directors. This paper concludes that the direction and control of ethics in any organisation is vital especially where the line between corporate governance and ethical leadership has become blurred.

• 동아시아경상학회지
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• 제2권3호
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• pp.18-22
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• 2014

Ethics suggest that all persons are by nature moral, as it would not be possible for humans to exist collectively or even individually without an innate ethical sense. In order for the public sector to thrive in business, the board of directors needs to be guided by ethics and take into account the abiding interests of humanity and public good. It is argued in this paper that the abuse of power in the public sector has often been associated with unethical leadership and conducts which undermines the ubuntu notion. The irregularities which often arise in the awarding of tenders in the state-owned companies are some of the challenges that are prone to the public sector. In order to address these challenges and promote a flourishing democracy it is argued that ethical leadership as envisaged in the King III Report needs to be adhered to by the boards of directors. This paper concludes that the direction and control of ethics in any organisation is vital especially where the line between corporate governance and ethical leadership has become blurred.

• 한국콘텐츠학회논문지
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• 제22권8호
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• pp.403-415
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• 2022

본 연구의 목적은 청주시 도시공원 민관거버넌스의 성과를 Ansell & Gash(2007)의 '협력적 거버넌스' 모델을 중심으로 분석하고 시사점을 찾는 데 있다. 협력적 거버넌스 모델이 제시한 4대 범주와 13개의 성공 요소를 활용해 해당 거버넌스의 성과와 한계를 분석했다. 분석 결과를 보면, 초기조건, 제도설계, 리더십, 협력과정 등 4대 범주 모두를 충족시키고 있다. 13개 요소 중 8개 요소가 '양호' 수준으로 분석되어 성공적인 거버넌스로 평가되었으며, 신뢰 구축과 헌신적 협력을 성공적 거버넌스의 핵심 요소로 볼 수 있다. 반면, 한계점이 드러난 5개 요소는 '보통' 수준으로 평가되었다. 이와 같은 분석 결과는 협력적 거버넌스의 개선을 위해서는 사후 이행관리 체계를 마련하고, 참여의 포용성을 더욱 강화하며, 제도적 설계 단계부터 간접참여 주체 및 대중과의 정기적인 소통의 장을 보장하는 규정과 실행이 필요하다는 시사점을 주고 있다. 본 연구는 객관적으로 검증된 모델의 평가 범주를 기준으로 분석하였지만, 평가는 주관적 판단에 따랐다는 한계가 있다.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.795-806
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• 2021

This study analyzes and assesses the effect of good governance consisting of accountability, transparency, and participation on the financial performance of Pare-Pare City local government moderated by the basic values of Siri culture in the form of Lempu (honesty), Amaccangeng (intelligence), and Awaraningeng (courage). The population of this research is 200 local government employees (respondents). The results of data analysis showed that accountability and participation variables had no significant effect on the financial performance of the Pare-Pare City local government. However, the transparency variable has an influence on local government financial performance. It is hoped that all these 3 variables (accountability, transparency, and participation) will have a significant effect on local government financial performance. To achieve this, it is necessary to apply cultural values that exist in society so that cultural values can provide greater guidance in the management of regional finances. The results provide a better understanding of the importance of Siri's cultural value in the implementation of public services to the community. With Siri's cultural values in the form of Lempu, Amaccangeng, and Awaraningeng embedded in their behavior, government employees can improve performance and avoid deviant behavior or corruption. The novelty of this research is a form of analysis by using local cultural values (the basic values of Siri culture) as the moderating variable.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.447-456
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• 2021

State-Owned Enterprises (SOEs) are business entities that are owned mainly by the state. Good financial governance (GFG) is as important for SOEs as for the private sector companies. Prudence and GFG can affect the value of the company. This research aims to test the impact of macroeconomics, investment decisions, and financing decisions on prudence, Corporate Social Responsibility Disclosure (CSRD), dividend policy, and company value of SOEs registered on the IDX from 2014-2019. GFG and financing decisions are moderating variables. The population in this study is 16 SOEs listed on the Indonesia Stock Exchange from 2014-2019. The research method is quantitative and uses Partial Least Squares (PLS), which is an approach to Structural Equation Models (SEM) that allows researchers to analyze the relationships simultaneously. The results showed that macroeconomic factors, investment decisions, financing decisions, and prudence directly affect the company's value. However, CSRD and dividend policy directly do not affect the company's value. Prudence can mediate the influence of financing decisions on company value. GFG moderates the relationship between prudence and company value. Thus, GFG is key to producing compliant regulatory reports and disclosures. GFG aims at facilitating effective monitoring and efficient control of the business. Its essence lies in fairness and transparency in operations and enhanced disclosures for protecting the interest of different stakeholders.

• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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• pp.29-40
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• 2020

The research aims to explore the links among corporate governance, corporate social responsibility, and earnings management, considering vital roles of each component in Vietnam. There were 500 questionnaires provided to the targeted enterprises, where there were 150 enterprises in Ho Chi Minh Stock Exchange, 150 enterprises in Hanoi Stock Exchange, and 200 enterprises in the unlisted public company market. Of the distributed questionnaires, only 289 replies offered needed information for analyses. The data derived from these firms was based on their annual or sustainability statements that were retrieved from the websites. This research used a six-year rolling window to calculate earnings management. To compute that variable, lagged year information was included, so the data from 2011 to 2017 was needed to collect. The empirical results show that corporate governance mechanism is a significant moderation in the positive link between good corporate social responsibility and earnings management. Furthermore, corporate social responsibility and earnings management also play mediating roles in the associations among corporate governance, corporate social responsibility, and earnings management. This project recommends that corporate governance mechanism is an essential driver of the managerial behaviors in social responsibility and ethical accounting practices, which are in turn mediators in the joint research model.

• 한국IT서비스학회지
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• 제18권4호
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• pp.171-190
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• 2019

This study comparatively analyzes the cases of CDMA (Code Division Multiple Access) and WIPI (Wireless Internet Platform for Interoperability) to find out the success and failure factors of technology policies in the field of mobile communication industry. For this purpose, the two cases are analyzed through a new analysis framework, which is made by combining System of Innovation with a range of variables derived from precedent studies, such as external environment, institutions, technological system, governance structure, and interactions of actors. The results of analysis show that in the CDMA case, the following factors led to success ; Korea made good use of the external opportunities in the early stage of digital communication technology and adopted a suitable governance structure for the technological system. Main actors in Innovation System had strong will for success and engaged in cooperative interaction. For the WIPI, however, the timing of technology policy was inappropriate and a unsuitable governance structure for technological system was chosen because of path dependence. The Innovation System failded to respond efficiently to the situation where conflicts among actors had intensified, US trade pressure had increased and innovative smartphones emerged. The results of this study provide the practical implications for the success of technology policy; namely it is important to choose a governance structure that suits the external environment and characteristics of technology and to activate cooperative interactions among actors in Innovation System.