• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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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.

• 아태비즈니스연구
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• 제12권3호
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• pp.71-85
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• 2021

Purpose - Prior studies have found that the characteristics of managers, corporate governance structure, corporate social responsibility and so on affect firm value. This study explores whether managerial overconfidence affects firm value through empirical analysis. Design/methodology/approach - Korean-listed non-financial companies from 2011 - 2017 are collected as the research sample. Firm value is measured by Tobin's Q, and managerial overconfidence is measured using a composite index encompassing various financial data. OLS and fixed effect model are used to investigate the relationship between managerial overconfidence and firm value. Findings - Managerial overconfidence is positively associated with firm value. Additional analysis reveals the following: (1) In the three subsamples of large, backbone, and small- and medium-sized enterprises, managerial overconfidence is beneficial to firm values. (2) Managerial overconfidence increases firm value on the t+1 year. Research implications or Originality - We use a comprehensive index with higher trust and feasibility to measure manager overconfidence and empirically confirm that managerial overconfidence can become a factor to improve firm value. Thus, it is necessary for shareholders to adopt an objective and neutral attitude and reasonably understand the psychological characteristics of managers when selecting CEOs. In addition, it is necessary to continue to optimize the measurement method of managerial overconfidence.

• International Journal of Computer Science & Network Security
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• 제22권8호
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• pp.217-221
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• 2022

The article analyzes the main theoretical approaches to the formation of managerial competencies and establishes the degree of development of the problem. The content of the concept of "managerial competence" has been clarified, to determine the structure of managerial competencies of a future specialist in the education system and indicators of the formation of managerial competencies. The organizational and pedagogical conditions necessary for the effective process of forming the managerial competencies of future specialists are revealed. The following research methods were used in the work: theoretical (analysis of regulatory documents and scientific literature on the problem under study, comparison, generalization, modeling), empirical (diagnostics of the level of formation of managerial competencies of students of the system, questioning, observation, peer review, comparative qualitative and quantitative analysis of diagnostic results the level of formation of managerial competencies).

• 디지털융복합연구
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• 제11권4호
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• pp.177-188
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• 2013

본 연구는 2006년도부터 2008년도 까지 2,608개의 기업-년도 표본을 이용하여 경영자 소유구조와 부채선택간의 관계를 조사하였다. 경영자 지분율은 주식보유분과 미행사된 주식매수선택권을 이용하여 측정하였으며, 부채는 공적부채와 사적부채로 구분하여 경영자 지분율과 차별적인 부채선택간의 관계를 분석하였다. 분석결과 경영자 지분율과 사적 부채의 차입은 유의한 양의 관계가 있음을 알 수 있었다. 또한 신규 차입 부채와 경영자 지분율간의 관계를 분석한 결과 기업이 추가적인 부채를 조달할 때, 경영자 지분율이 증가할수록 사적 부채에 대한 의존도가 증가하는 것으로 나타났다. 사적 부채를 금융기관부채와 비금융기관부채로 구분하여 경영자가 특정 형태의 부채를 선호하는지를 분석하였다. 분석결과 경영자 지분율이 증가할수록 금융기관부채를 선호하는 것으로 나타났다. 경영자의 소유구조와 부채선택간의 관계를 실증분석 함으로써 본 논문은 다음과 같은 공헌점을 가지고 있다. 첫째, 기존연구에서 다뤄지지 않은 경영자 소유구조와 부채선택간의 관계를 파악하였다. 특히 경영자 소유구조를 측정함에 있어 주식 지분율 뿐만 아니라 스톡옵션도 고려하였다. 둘째, 경영자 지분율의 증가에 따라 사적 부채 차입이 증가하며, 특히 금융기관 부채가 선호되는 실증적 증거를 제시하였다. 마지막으로 경영자의 소유구조와 부채 구조(debt mix) 뿐만 아니라 신규 자금 조달원천에 대한 폭넓은 분석을 수행함으로써 경영자 소유구조와 부채선택 관련 연구에 기여할 것으로 기대된다.

• 한국콘텐츠학회논문지
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• 제15권10호
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• pp.425-435
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• 2015

코칭에 대한 실무적 관심이 높아졌음에도 불구하고 이에 대한 학문적 정의와 발전은 아직 미약한 실정이다. 본 연구의 목적은 기업현장에서 이미 광범위하게 수용된 코칭이 직무성과에 기여하는 실제적 영향과 메커니즘을 밝히는 것이다. 대다수 선행연구들은 코칭교육의 우수성이나 효과성에 대한 선언적 평가에 그쳤다는 한계가 있었다. 이를 극복하고자 코칭 리더십(managerial coaching)이 직무특성이론의 동기부여과정에 개입하는 영향을 실증하고, 코칭교육이 아니라 관리자의 코칭활동에 집중하는 행동주의적 접근을 시도하였다. 연구모형을 검증하기 위하여 국내 금융기업의 조직구성원 453명에 대한 설문자료를 바탕으로 다수준 분석을 실시하였다. 분석 결과, 코칭 리더십이 조직구성원의 직무성과에 미치는 긍정적인 직접효과를 확인할 수 있었다. 또한 핵심직무특성 중에서 직무유의성(job meaningfulness) 및 자율성(autonomy)과 직무성과의 관계를 코칭리더십이 긍정적으로 조절하는 수준 간 영향(cross-level moderating effect)이 유의하게 나타났다. 직무특성의 요건에 따라 집중해야 할 코칭의 기술과 방향이 최적화 관점에서 모색되어야 한다는 본 연구의 시사점은, 기업현장에서 광범위하게 수행된 코칭교육이 간과했던 실천적 공백을 메우는 데 기여할 것으로 기대한다.

• Journal of Korea Trade
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• 제25권2호
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• pp.196-219
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• 2021

Purpose - We attempted to empirically verify the effects of managerial attributes on cost stickiness in exporters. Exporters are often affected not only by external factors such as exchange rate but also by internal factors such as managerial attributes regarding their business activities. Because cost stickiness is the product of a manager's decision-making, it has been considered that managerial attributes have a great influence on the behavior. Therefore, our study was intended to find out whether cost stickiness shows differentiated aspects depending on managerial attributes in exporters. Design/methodology - We considered two managerial attributes: CEO power and managerial overconfidence. First, CEO power was measured as CEO pay slice. In addition, managerial overconfidence was measured based on three methodologies presented by previous studies. To measure cost stickiness, we used multiple methodologies presented by prior research. Findings - The results of our empirical analysis are as follows. First, in export firms, the greater CEO power is, the greater cost stickiness is. This result suggested that export managers with great influence little respond to temporary sales decrease promptly, little reduce related production costs flexibly in preparation for future sales recovery, but leave room to endure costs for idle resources. Second, the greater managerial overconfidence is, the greater cost stickiness is. This result indicated that export managers with great overconfidence on their decision-making often view the prospect for sales recovery positively; therefore, they little respond to temporary sales decrease immediately, little reduce related production costs flexibly for future sales recovery, but leave room to endure costs for idle resources. Third, export managers with great influence in their businesses and great overconfidence in their decision-making tend to show relatively great cost stickiness. The results proposed that the combination of the two factors functions to make cost stickiness greater. Originality/value - Our study is differentiated from extant studies in that we provided empirical evidence of the effects of managerial attributes on their business activities in exporters. Specifically, we verified the effects of managerial attributes on cost stickiness in Korean exporters. The results of our study are expected to contribute to providing useful information for exporters and start-ups.

• Asia pacific journal of information systems
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• 제7권3호
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• pp.125-143
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• 1997

As information is the critical resource of business, CIOs(chief information officers)' managerial roles become more important. CIOs work out the organization and information system strategies, introduce changes into organizations, communicate with chief executive officers and users, and take the responsibilities of the information system operation. The CIOs' managerial roles make affects on the information system performance and the organizational effectiveness. They are divided into six sub-roles; leader, liaison, entrepreneur, monitor, resource allocator and spokesman. The CIOs' influences on organizations are evaluated by information systems performance. User information satisfaction is one of the most valid information system evaluation criterions. User participation and user involvement are regarded as the antecedents of user satisfaction. This study investigates the effect of CIOs' managerial roles on user satisfaction, user participation, user involvement, CIOs' six managerial roles do not equally influence users. The results of this study have implications for the CIOs' managerial roles in organizations. As CIOs effectively perform managerial roles, user satisfaction is improved.

• 대한가정학회지
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• 제34권4호
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• pp.295-308
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• 1996

The purpose of this study was to explore how family types clustered based on the intra system dynamics explained housewive's managerial behavior. The data were collected by means of questionnaire distributed to a stratified sample of 544 housewives in Seoul who lived with husband and children. The questionnaires included FACES Ⅱ and Ⅲ, Communication Scale, Managerial behavior Scale and Life Satisfaction Scale. Frequency, percentile, mean, correlation, factor analysis, cluster analysis, One-way ANOVA with Scheffe test, and multiple regression were used to analyze the data. This study had resulted in three major findings. The first was that families were clustered by four types, named structed-separated family, flexible-connected family, change oriented emashed, and rigid-disengaed family. The second finding was that a difference in managerial behavior was found among four types of family. Housewives whose family were more connected each other and adapted more easily to changing situations showed better managerial behavior. The last one was that the managerial behavior of housewives was better explained by family types than socio-demographic variables. The recommendations for future research and the better ways to lead effective managerial behavior were suggested.

• 가정과삶의질연구
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• 제17권2호
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• pp.105-120
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• 1999

The purpose of this study was to examine dimensions related to effective managerial actions in association with effects of resourcefulness personal and managerial communications and condition s for effective home management on the basis of managerial process. Including elements of managerial process conditions for effective home management were divided into the four factors performance-condition dichotomy timing high level and middle range. In conclusion first the managerial process for effective management can be classified into the four conditions related to each other. That was termed as 'conditions for effective home management' Second the most influential variables on conditions for effective home management were personal and managerial communication. The four conditions for effective home management need to include communicaion. Third resuorcefulness was a crucial factor in relation to home management resources division. It is recommedned that resuorcefulness needs to de elop managerial actions of housewives.

• 산업공학
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• 제16권3호
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• pp.300-310
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• 2003

In this study, we empirically investigated the internal consistency among priorities in manufacturing strategy, manufacturing activity program performances and managerial performance indices in domestic electronic manufacturing firms. The test results show that there exist several significant internal consistencies with managerial implication related in research model. Especially, priority in quality shows most significant consistency through manufacturing activity program performances and managerial performance indices.