• International conference on construction engineering and project management
• /
• 2011.02a
• /
• pp.521-525
• /
• 2011

Although the Korean construction industry has risen rapidly, the quality of the buildings is not met with the industry standard compared to the potential of the technology development and the cost of maintenance has been increased. The user's request for quality have been increased, but in the current building construction, the contractors only follow the specifications of design, material and technology, and their main concern is whether they are in right track with the specification or not. Thus, the necessity of developing technology has been ignored and sufficient opportunities for the development have not been provided as well. In the developed countries, in contrast, the quality assurance and the payment regulation system has been utilized for the active response to the changes of users' request. As a result of this, the maintenance cost has been decreased and the development of construction technology has been improved. Therefore the pay adjustment system is needed to create the improvement of the quality of the buildings by the contractors' earnest building construction. In order to introduce the pay adjustment system suitable to the Korean construction industry, this study presented the logical method of adjusting the construction cost and making payment with the pay adjustment index that is created based on the result of the performance test, after making a set of the indicators of the building performance standard and applied them to the targeted building.

• Journal of Korean Academy of Nursing Administration
• /
• v.5 no.2
• /
• pp.281-295
• /
• 1999

The purpose of this study is to provide the basic data for the development of new pay system of hospitals by analyzing the status and problems of current pay system. The pay systems of 20 nationwide hospitals were analyzed and compared with the average pay level in Korea. In addition, the annual trend of pay system was analyzed. Based on this study, the following suggestions can be made. First, the pay levels of hospitals are, in some types of workers, lower than average. Hospitals should take much efforts to improve the payment capability through the effective management. Second, the effort to raise the proportion of basic pay to the total pay and to simplify the pay system on the basis of basic pay rather than the allowance and bonus should be made. Third, the pay system based on the length of service should be revised into the one based on work capability, achievement and performance in case of professional, clerical and managerial jobs. Fourth, the pay system determined depending on the power relationship between the labor unions and the management should be improved into the one, with which workers can feel reliable and satisfied through the revealing of the payment ability and the management improvement.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.3
• /
• pp.91-101
• /
• 2019

This paper finds some stylized facts about executive pay in South Korea. Using aggregate data of the listed companies since 2002, we find that 1) the director's remuneration has risen faster than the employee compensation, thus, the pay ratio of executive and employee has escalated from 3.0 to 4.5; 2) the executive compensation for large business group fluctuates more widely than that for small and medium enterprises does, hence the pay ratio for large firms changes widely too; 3) the median pay ratio has not grown monotonically but it rather rises to remain still around year 2011, which is accounted for mostly by small and medium enterprises. New information on executive compensation by compulsory disclosure starting from 2013 made further analysis of CEO compensation attainable. Based on the conventional regression analysis for 2013-2017, we find that 1) the elasticity of CEO pay with respect to firm value is about 0.18; 2) the volatility of stock return is negatively related to CEO pay; 3) contemporaneous stock return is positively associated with the pay; 4) there is insufficient evidence that large business groups pay their CEOs more than small and medium enterprises do. These results are robust under various model specifications.

• KDI Journal of Economic Policy
• /
• v.40 no.4
• /
• pp.65-80
• /
• 2018

This paper examines the differences between the subsequent careers of high school and college graduate workers based on a direct role of college graduation with regard to the revelation of workers' individual abilities. Using NLSY79, we document a positive relationship between off-the-job training/performance-pay jobs and ability for high school graduates at the early stages of their careers. However, this relationship is less prominent for college graduates. Moreover, we show that high ability is associated with more jobs, which reflects higher job mobility, only for high school graduates. We argue that these patterns are the result of productivity-revealing behavior of high school graduates, whose individual abilities, unlike college graduates, is not observed precisely at the beginning of their careers.

• Korean Journal of Community Nutrition
• /
• v.5 no.4
• /
• pp.672-682
• /
• 2000

The purpose of this study was to identify the effect of job characteristics, job performance and organizational commitment on job satisfaction of hospital dietitians. The first survey was carried out on 74 hospital dietitians to determine their demographic characteristics, job characteristics, organizational commitment, and job satisfaction. The second survey was carried out on 47 hospital foodservice dietitians to determine their job performance. Thirty-two percent of the subjects were aged between 26 and 30, and 62.2% had Bachelor's degrees. The dietitians felt most satisfied by their co-workers, followed by the work-itself, supervision, pay, and promotion possibilities. Dietitians who had a higher education were satisfied with pay and supervision. The longer the length of employment, the more the satisfaction with the work-itself and pay, plus the higher the monthly wage the more the satisfaction with the work-itself, pay, supervision, and co-workers. lob satisfaction was high in the group that scored high on autonomy, feedback, task identity, and friendship of in the job characteristic inventory. The job performances of nutrition counseling(r= 0.469, p < 0.01), nutrition education(r= 0.446, p < 0.01) and management of therapeutic diet(r= 0.394, p < 0.01) were positively correlated with job satisfaction. The $R^2$for the multiple regression model was 0.677, indicating that 67.7% of the variance in job satisfaction could be accounted for by feedback, organizational commitment, nutrition counseling performance, and nutrition education performance. In conclusion, the level of job satisfaction for hospital dietitians would appear to improve with increased feedback, organizational commitment, and opportunity for nutrition counseling and nutrition education.

• Journal of Digital Convergence
• /
• v.20 no.1
• /
• pp.119-127
• /
• 2022

In order to analyze the effect of strengthening the disclosure of remuneration for high-paid workers among the measures to improve the governance structure of financial companies by the Financial Services Commission in 2018, this study demonstrated the compensation system, management performance, and improvement of governance for Korean financial companies from 2015 to 2020. Analysis was performed. As a result of the empirical analysis, it was found that financial companies after 2018 decreased the employee compensation disparity and the majority shareholding ratio, while the stock performance and foreign ownership ratio increased. This study has the greatest contribution in that it is the first domestic study to verify the effect of applying the so-called Say on Pay, which discloses management's remuneration and allows shareholders to check its appropriateness through voting.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.2
• /
• pp.356-373
• /
• 2017

The purpose of this study is to empirically analyze whether performance-oriented remuneration systems in public thermal power generation companies substantially induces organizational commitment of employees, and contributes to organizational performance. According to the study, adequacy of salary and individual work evaluation have significant effects on organizational commitment, whereas external and internal evaluations for pay-for-performance remuneration systems do not have a significant effect. Annual salary for performance and pay-for-performance systems have a significant influence on organizational performance. In addition, because annual salary and individual work evaluation of the performance-oriented remuneration system have significant effects on both the indirect effect, through organizational commitment, as well as the direct effect on organizational performance, there exists a partially mediated effect on organizational commitment. Conversely, because external and internal evaluations do not significantly affect organizational commitment, there is no means of verifying the mediating effect. Studies suggest that a fair annual salary system for performance employed in conjunction with a pay-for-performance system will provide positive impacts on organizational performance and employee loyalty.

• Journal of Preventive Medicine and Public Health
• /
• v.45 no.3
• /
• pp.127-136
• /
• 2012

The challenge facing the Korean National Health Insurance includes what to spend money on in order to elevate the 'value for money.' This article reviewed the changing issues associated with quality of care in the Korean health insurance system and envisioned a picture of an effective pay-for-performance (P4P) system in Korea taking into consideration quality of care and P4P systems in other countries. A review was made of existing systematic reviews and a recent Organization for Economic Cooperation and Development survey. An effective P4P in Korea was envisioned as containing three features: measures, basis for reward, and reward. The first priority is to develop proper measures for both efficiency and quality. For further improvement of quality indicators, an electronic system for patient history records should be built in the near future. A change in the level or the relative ranking seems more desirable than using absolute level alone for incentives. To stimulate medium- and small-scale hospitals to join the program in the next phase, it is suggested that the scope of application be expanded and the level of incentives adjusted. High-quality indicators of clinical care quality should be mapped out by combining information from medical claims and information from patient registries.

• The Korean Journal of Health Service Management
• /
• v.14 no.1
• /
• pp.93-102
• /
• 2020

Objectives: This study analyzed the prescription characteristics of medication for acute respiratory diseases before and after pay-for-performance to provide basic data on effective medical quality management policies. Methods: The research data were collected from the 2013-2014 sample cohort of the National Health Insurance Corporation, from Internal Medicine, Pediatrics, Otorhinolaryngology, Family Medicine and General practitioner clinics (classification of disease codes: J00-J06, J20-J22, J40 outpatients). Results: The antibiotics prescription rates decreased from 43.9% in 2013 to 43.5% in 2014 when the major diagnosis was for upper respiratory infections and increased from 62.0% in 2013 to 62.5% in 2014 when the major diagnosis was for lower respiratory infections. Conclusions: There is a need to identify the correct antibiotic prescription method by expanding the current assessment standards. Such standards must include acute lower respiratory infections and minor diagnoses as the current evaluation techniques focus only on the major diagnosis of acute upper respiratory infections.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.38 no.2
• /
• pp.179-196
• /
• 2013

This paper examines the difference in compensation structure between family firms and non-family firms in Korea. A manager's compensation is an important means of motivating a manager to make decisions for shareholders by mitigating conflicts of interest between them. However, the role of a manager's compensation can be weakened in family firms for the following reasons. First, a family member manager has fewer conflicts of interest, compared to a non-family member manager. Second, a family member manager has an intrinsic incentive to increase a firm's value (i.e., family wealth). Finally, a family member manager can monitor non-family member managers more effectively. For the reasons, the agency problem will be less severe in family firms and subsequently the role of compensation will be reduced. The empirical results show that pay-performance sensitivity is smaller in family firms than in non-family firms. The main result is robust to variations such as changes in family ownership, the definition of a family firm, and control variables. Furthermore, this paper compares the pay-performance sensitivity of Chaebol family firms with that of other firms. The result shows that the sensitivity is higher for Chaebol family firms, compared to that in other family firms and non-family firms.