• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.317-328
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• 2021

This study aims to determine the factors that affect dividends initiation by initial public offering firms in Malaysia. The ownership structure is examined from a corporate governance theoretical perspective in order to evaluate the impacts of managerial, institutional, and family ownership on the dividend's initiation decision of IPO firms. This study employs a quantitative pooled cross-section of 372 Malaysian IPO companies active during the period of 2002-2013. The number of firms that went public each year varies, thus the pooled cross-section data takes place in this case rather than the panel data. The logistic model was employed to test the proposed hypotheses. The results revealed that the presence of institutional investors in the ownership structure make it more likely for IPO firms to initiate dividends. On the contrary, the presence of a family ownership structure in IPO companies as the controlling shareholder makes these companies less probable to initiate dividends. Managerial ownership was found to have no effect on the decision of initiating dividends by IPO firms. The findings of this study suggest that the existence of institutional and family ownerships are agency cost mitigators, as these ownership types could prompt IPOs firms to initiate dividends to overcome the agency conflicts.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.103-115
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• 2021

This study investigates the relationship between family ownership and the stock price crash risk. It believes that this relationship would never be in direct connection. The authors design and then find that family ownership is predisposed, in the first place, to the related party transaction, then the related party transaction causes the future stock price crash. This study infers that employing the power of family ownership creates the Type I agency problem, although this is not relevant for the Type II problem. From the perspective of the hoarding theory, family ownerships produce opaque accounts by blurring financial information. The blurred information is probably hidden in the related party transactions. This study, therefore, splits these transactions into accounts receivable, other accounts receivable and other receivables. Finally, this research concludes that the family ownership affects related party transactions. These then are used as an instrument to influence the leaded related party transaction. The latest, leaded related party transactions influence the future stock price crash. This study infers that related party transactions are abusive practices, especially on the types of receivables. It implies corporate governance's revitalisation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.289-295
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• 2021

This study investigates the role of corporate governance in the dividend decision of 198 non-financial companies listed on the Colombo Stock Exchange of Sri Lanka, over the period from 2009 to 2016. Four corporate governance indicators are used in this study; managerial ownership, the board size, board independence, and CEO duality. Furthermore, this study considers three control variables such as profitability, firm size, and corporate tax. This study employed the Generalized Method of Moments (GMM) model to estimate the regression models on panel data study. The major contribution of this study is exploring the insight into the effect of corporate governance factors on dividend decisions. The results of the study revealed that managerial ownership showed a significant positive impact on the dividend payout ratio. Board size showed a significant positive influence on the dividend payout ratio. Board independence negatively but significantly influenced the dividend payout ratio. CEO duality showed an insignificant negative impact on the dividend payout ratio. In the framework of these CG indicators, Sri Lankan listed firms are recommended to have dispersed ownerships, large Board size and maintain a balance of power and authority by separating the individual who is assuming the position of the CEO from the Chairperson of the Board and maintain at least two independent directors.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.251-259
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• 2022

This study investigates the impact of ownership structures and audit quality on carbon emission disclosure. It also examines how audit quality affects the relationship between ownership structures and carbon emission disclosure. This research includes 106 standalone sustainability reports from non-financial companies that were listed on the Indonesia Stock Exchange (IDX) between 2015 and 2018. Our findings show that family and concentrated ownerships convey less information about carbon emissions. Our results fail to demonstrate that disclosure of carbon emissions could be a corporation's approach to respond to stakeholder pressure and public visibility and to provide legitimacy for its existence. We also find a positive and significant association between high-quality (Big4) auditors and carbon emission performance. Our further result suggests that Big4 auditors seem to compromise their high standard quality on auditing family and concentrated ownership firms. They fail to influence their family and concentrated ownership clients to be socially responsible. Policymakers should support the existence of Big4 auditors as a driver of carbon emission performance. Top management should be proactive to tackle carbon emission issues by adopting stakeholder-driven mechanisms and establishing legitimacy with society. Nevertheless, the involvement of family and highly concentrated shareholders in decision-making processes and information disclosure should not be encouraged.

• Information Systems Review
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• v.7 no.2
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• pp.163-181
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• 2005

In this paper, we report case analysis on entob.com which is one of the leading domestic players in MRO e-marketplace. Critical success factors of achieving early liquidity and right ownerships are addressed for successful e-marketplace launching. Change management issues, required to encourage suppliers participation and to overcome adoption barriers from buyer firms, are suggested and illustrated for the successful implementation of the MRO e-marketplace. The business model architectures enabling to create e-intermediary value to both the suppliers and buyers are detailed. Finally, benefits of buyer firms captured through e-procurement business process streamlining and material cost savings are reported as the successful application stories. The findings suggest practical managerial insights for MRO e-marketplace implementation and further research.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.2
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• pp.233-246
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• 2013

This paper investigates both the spatial patterns of aging population and its formal regional structure in 2010. The results are as follows: first, aging index shows high values in remote mountainous and coastal regions while showing relatively low values in Capital Region and large provincial cities. Aging index has low negative correlation with such variables as population increasing rate, ratio of youth population, ratio of apartments, and ratio of newly built housing. However, aging index shows high positive correlation with variables including ratio of single unit house, ratio of aged peoples' house ownerships, ratio of welfare recipients, ratio of old housing, and number of public healthcare facilities. Secondly, four factors are identified from factor analysis including aging factor, welfare factor, economic vitality factor, and new town factor. The aging level of a region is negatively related to the strong level of those factors. Thirdly, cluster analysis results in four different types of formal regions including rural mountainous coastal type, rural non-capital region type, large metropolitan type, and provincial industrial city type.

• Journal of Korean Society of Forest Science
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• v.87 no.3
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• pp.372-382
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• 1998

This study aims to reveal the dissolving process around the customary common right to forest utilization through a series of policies consolidating the modern forest ownerships in Korea under the rule of Japanese Imperialism. The existence of the customary common right to forest utilization has been widely recognized since the old time. Common profitable actions in a certain area have been given to village residents to gain useful materials such as forage, timber, fuelwood, wild animals, soil, grazing, and quarry in forest, which were necessarily required for their own daily life as customary commodities. This right was divided into the right around common forests and special easement in forests. Therefore, the common forests applicable of these rights were classified into village common forests and special easement forests. Especially, General-Government granted the national forests in pre-emption to a private(88.6%, 2,463,555chungbo) or public(12.1%, 299,050chungbo). After all, most of the common forests were transferred into national forests in earlier stage and then later into public ar private forests by Japanese Imperialism.

• Journal of Korean Society of Forest Science
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• v.97 no.1
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• pp.71-76
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• 2008

The objective of this study was to determine the effective land units of communal forests for evaluating forest functions using GIS. As the candidates of the effective land units, we chosen the administrative units of parcels and 3 different scales of watersheds; small, medium and large. However, the administrative units of parcels were discarded because of the extreme complexity of ownerships and the highly petty scales of parcels. Instead, the 3 different levels of watershed units were applied to evaluating forest functions and the effectiveness of the resultant functional maps were compared each other in terms of the appropriateness or adequacy for field applications. According to the results of this study, it was found that the aggregated area by watersheds provides the appropriate scales of land area for forest functions and the small watershed is the most adequate one as the effective land units for forest functions in communal forests.

• Journal of Biosystems Engineering
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• v.39 no.1
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• pp.57-67
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• 2014

Purpose: The modern IT can give enormous impacts on the agricultural production and consumption. However, farmer's ability to use IT devices has been known as one of the critical factors on success of IT in agriculture. This survey study was performed to evaluate the informatization status of farmers and to draw a strategy to develop and distribute a ubiquitous agricultural information system. Methods: A survey questionnaire with 19 questions on the degree of IT devices such as computers and smartphones and their utilization were developed. The survey was questioned 3 groups of farmers in Gyounggi Province and analyzed statistically by the ${\chi}^2$ test. Results: The order of IT devices distribution were computers, smartphones, smart TVs and tablet PCs in all groups. The ratios of ownerships of the devices are 97.7, 78.6%, 31.4%, 17.8% respectively. The active farmers in this survey showed higher informatization level than that of native and the general farmers. Conclusions: The ubiquitous agricultural information system was judged to be developed for the computer because spread and use of it exceeds the other devices. Also, the information system based on the smartphone could be a complementary way if the rapid of the smartphones continues and proper education on use of the phone is provided.

• Korean journal of communication and information
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• v.33
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• pp.193-225
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• 2006

This study attempts to reconsider the significance of political economy as a theory of knowledge and/or a method for explaining the convergence of broadcast and telecommunications. It is going to suggest what the domains of political economy should be in the future by both highlighting the characteristics and blind spots of previous studies and drawing some distinctive features of a new media environment. The principals and recent research trends in political economy are reviewed in order to make clear that the historical totality as a meta-framework of political economy needs to be reexamined in the era of convergence. Although the scope of political economy has been limited to criticize the structure of media ownerships, the study emphasizes the importance of media consumer theory. It also discusses the problems of free market theory, distortion of active media audience theory, and limitations and creative tension of audience commodity. Finally, this study stresses the significance of audience-oriented policies in order to make approach to practical sides of media politics.