• The Journal of Asian Finance, Economics and Business
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• 제3권4호
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• pp.5-16
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• The Journal of Asian Finance, Economics and Business
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• 제3권4호
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• pp.67-79
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.679-688
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• 2021

This study aims to verify family ownership's effect on earnings management by using corporate governance as the moderation variable. This study uses data panel regression with the period of 2011-2017. Corporate governance consisted of three dimensions, namely the board of commissioners, share ownership and transparency, and disclosure and auditing. Discretionary accruals measure earnings management with a model that controls company performance. Samples are manufacturing companies listed on Indonesia Stock Exchange. Observations were conducted on 198 firms throughout the year. The results indicated that corporate governance significantly affected earnings management. However, it declined the significance of family ownership toward earnings management. Hence, corporate governance can reduce earnings management. Furthermore, of the three components of corporate governance: the board of commissioners, shareholding, and transparency, the term shareholding precisely encouraged managers to conduct earnings management. Besides, the three core bodies of corporate governance lowered the significance of shareholding toward earnings management. This study's findings suggest that in family firms in Indonesia, earnings management is becoming more intensive than in non-family firms. Additional tests show that there is an entrenchment effect on family firms in Indonesia. Furthermore, corporate governance leads to earnings management.

• Asian Journal of Business Environment
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• 제5권2호
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• pp.15-22
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• 2015

Purpose - Following globalization, Kazakh companies are considered to be among the main economic agents of the country. The influence of Limited Liability Partnerships (LLPs) on Kazakhstan's economic development is becoming increasingly pronounced. Therefore, limitations and backwardness of legislation regarding regulation of corporate governance must be overcome at the earliest. Research design, data, and methodology - We considered the basis for legislation of corporate governance in Kazakhstan, and the corporate governance models that better describe the situation of being in the organization. Results - Earlier studies have identified several problems, including "transparency" of issuers and markets, and the consequent lack of (undeveloped) external control of managers of the former state-owned enterprises; lack of traditional corporate ethics and culture; and corruption, and other criminal aspects of the problem. This article describes several proposals to improve corporate governance in Kazakhstan to solve these problems. Conclusions - Domestic reformers acting without consideration of local features is a common occurrence today. They often ignore that these features are recommended for reputable international organizations, and therefore should be used carefully.

• 한국항행학회논문지
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• 제14권6호
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• pp.935-950
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• 2010

본 연구는 정보보안 거버넌스(Information Security Governance)의 구성 요소인 리더십과 거버넌스, 보안 관리 조직, 보안 정책, 보안 프로그램 관리, 사용자 보안 관리, 기술적 보안과 조직 구성원의 보안 인식과 보안 행위 간의 관계를 가설 검증과 최적 모델 분석을 통해 요소간의 관계를 검증하였으며, ISG 확립을 위한 효과적인 방향을 제시하였다.

• 기록학연구
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• 제38호
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• pp.225-264
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• 2013

이 글은 미국과 캐나다의 북미 국가들에서 활발하게 진행되고 있는 '참여 아카이브(participatory archives)'를 중심으로 한 공동체 아카이브의 '거버넌스' 논의를 분석하고, 이로부터 국내 공동체 아카이브의 발전에 긍정적 함의를 도출하는 데 목적이 있다. 이 글은 북미에서의 공동체 아카이브에 대한 주요 특징들, 즉 추진 주체로서 주류 문화기관, 수집기관 중심의 아카이브 정리 및 기술, 그리고, 평가 주체로서 아키비스트의 역할론을 제시함으로써, 이들 국가들이 역사적으로 관 주도형 하향식 모델을 지배적 아카이브 시스템으로 채택하고 있음을 재차 확인한다. 이 때문에 하향식 모델의 한계점을 극복하기 위한 방안으로 민 관의 협치에 기반하여 아카이빙 전 과정에 공동체 참여를 적극적으로 독려하는, 북미 국가들이 최근 시도하고 있는 참여 아카이브의 제안을 살핀다. 결론에서는, 북미 거버넌스 논의의 비판적 독해를 통해 한국적 함의를 살핀다. 즉 국가기록원을 비롯해 다양한 주류 문화기관들이 추진 주체가 되어 구축해 왔던 대부분의 공동체 아카이브가 여전히 관주도의 '공동체에 관한(about the community)' 기록에 머물러 있는 우리 상황에서, 북미 참여 아카이브에서 보여지는 타자화된 공동체 기억을 복원하려는 논의는 국내 공동체 아카이브가 재활력을 얻는 데 중요한 시사점을 준다고 판단한다.

• 인터넷정보학회지
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• 제14권3호
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• pp.21-34
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• 2013

The multistakeholder model of Internet governance is based on the belief that the stakeholder groups should be able to agree on the rules and principles in governing the Internet space. The global expansion of the sweeping influence of the Internet has heightened the awareness of international governments on the importance of Internet governance, but since the Internet has developed mostly through voluntary participation by various groups, the organization with the greatest ability to manage the Internet space currently is ICANN(Internet Corporation for Assigned Names and Numbers), the U.S. based organization that manages the assignment of Internet domain names and IP addresses. Although ICANN has attempted to globalize its operation, governments in some nations are voicing dissatisfaction over the fact that the voice of the governments are not adequately represented within ICANN. This paper examines how the concept of multistakeholderissm has been used in WSIS(World Summit on Information Society), ICANN(Internet Corporation for Assigned Names and Numbers) and the ITU(International Telecommunication Union) as an important principle in emphasizing their roles in Internet governance.

• 한국습지학회지
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• 제10권2호
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• pp.97-103
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• 2008

본 연구에서는 국내 수자원과 관련된 분쟁 및 갈등을 해결하기 위한 방안으로 적응형 거버넌스 시스템의 구조 및 역할을 제시하였고 분쟁의 원활한 합의 조정방안 및 문제점을 제시하기 위한 다양한 형태의 시민참여모델에 대하여 특징 및 특성을 분석하였다. 또한, 분쟁해결을 위한 공학적 도구로서 공영시각모형, 게임이론, 제도설계이론 등의 공학적 모형을 바탕으로 하는 과학적 접근 방안을 제시하여 물 분쟁의 해결 및 조정을 위한 대안을 모색할 수 있는 토대를 마련하였다. 본 연구에서 제시된 다양한 형태의 물분쟁 해결을 위한 대안은 물 관련 당사자들이 어떤 합의점을 찾을 때 추측과 가정에 의한 결정보다는 참여와 과학적 해결방법에 의해서 보다 합리적인 대안과 합의점을 도출할 수 있을 것으로 판단된다.

• 융합보안논문지
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• 제17권1호
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• pp.39-44
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• 2017

기존의 기업 정보보호 활동은 정보보호 조직 중심이 이었으며, 최고경영자는 정보보호와 기업경영은 별개의 것이라고 생각한다. 하지만 각종 보안사고가 끊임없이 발생하고 있으며, 이에 대응하기 위해서는 정보보호 조직만의 활동이 아니라 기업경영 측면에서의 정보보호 활동이 필요하다. 본 연구에서는 기존에 제시된 기업 거버넌스 및 IT거버넌스 등을 살펴보고 기업의 정보보호 활동에 기업의 비즈니스 목표와 경영진의 목표를 반영할 수 있는 정보보호 거버넌스 모델을 제시하고자 한다. 본 논문에서 제시하는 정보보호 거버넌스 모델은 계획 단계에서부터 최고경영자의 참여를 유도하여 정보보호 목표를 수립한다. 정보보호 목표에 따라 정보보호 계획 수립, 정보보호체계를 구축 및 운영하고, 컴플라이언스 감사, 취약점 분석 및 리스크 관리 등을 통해 그 결과를 최고경영자에게 보고함으로써 기업의 정보보호 활동을 강화할 수 있다.

• 한국IT서비스학회지
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• 제6권2호
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• pp.63-80
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• 2007

In this paper, the function factors contributing to ITA/EA functions in their organizations, are suggested. Also the reasons to the construction of IT governance system and their effects on the their organizations are discussed and the relationships are verified by empirical model. From the survey, the data of the 227 respondents were collected and regression analysis was performed for validating the research model. ITA/EA functions consist of the IT infrastructure systemization, ITA/EA business process support, IT investment efficiency factors. And the factors of IT resource and performance management, IT process management, IT service management are included to IT governance. The main analysis results described significantly are shows as follows. At first, IT resource and performance management factor is effected by the ITA/EA business process support factor and IT investment efficiency factor. In similarly, IT service management factor is also affected by the factors such as ITA/EA business process support, IT investment efficiency, and IT infrastructure systemization. In additional analysis, IT investment efficiency factor in official sectors, ITA/EA business process support factor in private sectors respectively are described as the significant factors on the IT governance.