• Journal of Arbitration Studies
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• v.27 no.4
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• pp.179-198
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• 2017

The OECD Guidelines for Multinational Enterprises (The Guidelines) was initially promulgated in 1976 as a form of annex to the OECD Declaration on International Investment and Multinational Enterprises. The Guidelines aims at accomplishing the implementation and dissemination of the Responsible Business Conduct. The latest version of The Guidelines, as revised in 2011, directed 47 adhering countries to The Guidelines to set up their respective National Contact Points (NCPs). NCPs are The Guidelines' dispute resolution mechanism for specific instances arising from breach by multinational enterprises of The Guidelines. Korea to date has its own NCP performing its role to offer good offices and facilitates settlement between the parties to the specific instances regarding The Guidelines. However, there has been strong criticism from NGOs and civil society that Korea NCP has not performed well due to lack of transparency and impartiality, especially in the context of the governance of Korea NCP. Under this circumstance, this paper ⅰ) examines current status and problems of Korea NCP, ⅱ) evaluates the core criteria for function and governance of NCPs through a comparative overseas cases study, and ⅲ) suggests improvement plans for Korea NCP.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.1-14
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• 2022

The implications of bank-specific risks and macroeconomic risks on the growth, profitability, and stability of Islamic and conventional banks are examined and compared in this article. The study also investigates whether corporate governance mitigates the effects of both bank-specific and macroeconomic risks on Islamic and conventional banks' development, profitability, and stability. For the period 2007-2019, we examined a panel data set of 22 banks in Pakistan, including both Islamic and conventional banks. We discovered considerable evidence that both bank-specific risks and macroeconomic risks have negative effects on the growth, profitability, and stability of Pakistani banks using a dynamic panel data estimator, the two-step Generalized Method of Moments (GMM) approach. Furthermore, the findings show that bank-specific and macroeconomic risks have different consequences in both types of banking. The impacts of liquidity risk, operational risk, capital risk, inflation risk, and exchange rate risk are higher for Islamic banks than for conventional banks. Conventional banks, on the other hand, are more vulnerable to credit risk and interest rate risk. Finally, the findings show that good corporate governance reduces the negative consequences of both categories of risks on bank development, profitability, and stability. This is true for Islamic and conventional banks alike.

• Land and Housing Review
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• v.4 no.4
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• pp.349-360
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• 2013

Recently new town development projects are increasing including more than one local government such as provincial government new town and Wirye new town. Institution improvement for the development and management of complex boundary new town is necessary because present urban development institution is based on the new town of single local government. The concept of multi-level governance provide good conceptual frame in recognizing conflict issues and searching for a collaborative solution in Wirye new town. The purpose of this study is recognizing the conflict issues in the process of development and management and providing the collaborative management method using the conceptual frame of multi-level governance in Wirye new town. For this, we did interviews for the related persons and experts, reference research and professional forum. We drew some implications from the references about urban development and similar cases such as free economic zones. The main results of this study is as in the following. First, we categorised the main conflicts in the development and management in Wirye into 4 sectors, such school, administrative service, utility facilities and urban infrastructures. Then, we analysed the conflict issues of each categories and composed a conflict-structure of Wirye new town. Second, the structure of conflict in Wirye new town is composed of the confrontations between separated management and integrated management and between wide area management and local management. Third, for the cooperative management of Wiyre, we should construct multi-level governance in three dimensions of administrative council, local government association, and special management organization.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1065-1071
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• 2020

The study aims to analyze the supply chain role of supervision, discipline, work climate, and organizational learning on the performance of community services at the public works. This study took a sample of employees through purposive sampling technique at the Public Works Office and Bina Marga in a regency in East Java. Data through questionnaire was collected through a 5-point Likert scale model. The results show that the application of employee discipline affects the performance of public services, with a contribution of 39.7%, meaning that discipline and organizational learning are implementation factors that have an effect on public service performance. In stepwise regression analysis, the supervisory factor has a correlation with service performance, but it is less relevant, while the work climate is not relevant as a predictor variable to improve public service performance. The study revealed the importance of the supply chain policy of implementing good and clean governance and the enactment of the performance appraisal of the government apparatus established through Good Corporate Governance of the state apparatus. The findings provide a basis to encourage the public sector performance to smooth every step of supply chain management of every government project work, especially in the field of public services.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.261-270
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• 2020

This study aims to examine the community empowerment model to develop sustainable tourism villages in Indonesia. This study applies a qualitative method. Data collection is conducted through interviews, observations, and focus group discussions held in Ponggok Village of Central Java Province - Indonesia. The results of this study found that the tourism development carried out in the Ponggok Village used four approaches (1) spatial approach as a basis in determining the direction of village development; (2) sectoral approach through increasing the role of the Village Owned Enterprises to build the village economy; (3) human resources to enhance the role of village communities in managing village potentials; and (4) use of information technology to improve service quality, transparency and accountability. The success of these four approaches is influenced by the leadership, innovation, collaboration, and good village governance. The success of the Ponggok village to become an independent village in improving the welfare of the community is inseparable from the success of the Ponggok village government in empowering the community to manage sustainable tourism development. The success of development with these four approaches is influenced by leadership, innovation, collaboration, and good governance.

• Journal of Preventive Medicine and Public Health
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• v.54 no.1
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• pp.1-7
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• 2021

The Korean government's strategy to combat coronavirus disease 2019 (COVID-19) has focused on non-pharmaceutical interventions, such as social distancing and wearing masks, along with testing, tracing, and treatment; overall, its performance has been relatively good compared to that of many other countries heavily affected by COVID-19. However, little attention has been paid to health equity in measures to control the COVID-19 pandemic. The study aimed to examine the unequal impacts of COVID-19 across socioeconomic groups and to suggest potential solutions to tackle these inequalities. The pathways linking social determinants and health could be entry points to tackle the unequal consequences of this public health emergency. It is crucial for infectious disease policy to consider social determinants of health including poor housing, precarious working conditions, disrupted healthcare services, and suspension of social services. Moreover, the high levels of uncertainty and complexity inherent in this public health emergency, as well as the health and socioeconomic inequalities caused by the pandemic, underscore the need for good governance other than top-down measures by the government. We emphasize that a people-centered perspective is a key approach during the pandemic era. Mutual trust between the state and civil society, strong accountability of the government, and civic participation are essential components of cooperative disaster governance.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.391-402
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• 2021

This study aims to analyze the impact of the company's financial performance in mediating the relationship between Intellectual Capital and GCG on Corporate Value in banking companies listed on the Indonesia Stock Exchange (IDX). Also, this study analyzes the direct effect of intellectual capital and GCG on corporate value and the indirect effect through the company's financial performance. This study develops research of Chen et al. (2005) and measures Intellectual Capital with VAIC (Pulic, 1998). VAIC model is more accurate to measure Intellectual Capital because it can show potential intellectual use efficiently. The data used are banking companies listed on the IDX in 2014-2016 with purposive sampling technique and Data Analysis Technique used are path analysis. The results showed that the financial performance of banking companies was proven to mediate the relationship between intellectual capital and GCG. The role of GCG that can improve financial performance and corporate value is only GCG as measured by the ratio of independent commissioners and audit quality. Meanwhile, the financial performance and corporate value audited by the Big 4 will be greater than the financial performance and corporate value of the banking companies listed on the Indonesia Stock Exchange that are not audited by the Big 4.

• Journal of Distribution Science
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• v.12 no.10
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• pp.47-56
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• 2014

Purpose - This study aims to eradicate and halt the continuous life cycle of corruption. Only when ethical management policies are implemented can the business ethics system be effective and transparent. Research design, data, and methodology - The analyses and legislative measures designed by these organizations and countries were based on solid research, uncovered during my visits and interviews conducted with businessmen in those countries. Results - The main focus of in this study is as follows: First, to introduce the programs of UN, OECD, OAS, USA, and Asian countries noted for business ethics and transparency policies; Second, to define each function and problem of these countries' anti-corruption systems, including the U.S. federal government, and to examine Chinese trends. Conclusions - Ethical managements are necessary to improve business ethics. This study suggests four related areas for the purpose of discouraging bribery and corruption; these are improving global corporate governance standards, increasing financial transparency, improving good governance in the public service of the OECD member countries, and focusing on not only the supply side but also the demand side of the corruption market.

• The Korean Journal of Financial Management
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• v.26 no.4
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• pp.1-34
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• 2009

We test the effect of corporate cash holdings on firm value by using the KOSPI listed firms over the period between 2002 and 2007 from the agency theories perspective, which has not been the central interest of prior studies. Unlike existing studies, using the manager's ownership ratio or foreign investor's shareholder ratio as a proxy variable for agency costs, we use the individual firm's corporate governance scores by the KCGS to test the effect of agency costs on the value of firm's cash holdings. We find that a firm value is positively related with its cash holdings. We also find that a firm with good corporate governance tends to experience a higher value of its cash holdings, compared with a firm with bad corporate governance. These results are consistent even after controlling for the endogeneity problems between corporate governance and firm value, strongly supporting the agency theory of cash holdings. Therefore, a firm's cash holdings, even from liquidity or precautionary motives, could increase the firm cash value, as long as its managers' interest is shareholders' wealth maximization rather than their private benefits.

• The Journal of Korean Philosophical History
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• no.41
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• pp.71-92
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• 2014

A series of the tragic 16th-century Sahwas sent Toegye into the depths of despair. In the face of the ensuing social disruption in which any criterion or direction is utterly lost, he could not but to reexamine the problem of human nature and good and evil. For Toegye, criterion or direction is connected with Principle, and human nature and the problem of good and evil are related with Mind. In other words, these problems are none other than the question: "As the subject of history and society, how a human being can set principle in a real world and realize it? How one can successfully control his wants and feelings with his rationality?" Toegye proposes that while laws and regulations should be reformed when they are outdated, good laws and regulations are not necessarily to be discarded. He also warns that ideal governance is not likely to be realized if only too conservatives take the lead while radicals, depended upon exclusively, would create too many problems.