• Journal of the Korea Institute of Building Construction
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• v.10 no.1
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• pp.175-180
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• 2010

Despite continuous efforts by the construction industry to achieve better quality, it doesn't seem that much has been improved. This is mainly because current specifications do not satisfy a change in the market environment, which is that a higher level of quality is now demanded by users. Quality improvement efforts have been satisfied merely to meet specifications. On the other hand, advanced countries have been experienced great success in their construction techniques and have reduced costs by introducing apay adjustment system to the construction industry, in which compensation is based on performance. Following their example, Koreashould introduce such a pay adjustment system in order to motivate the members of our construction industry to achieve better quality and a higher level of construction techniques. However, there has been a lack of a rational approach to the development of a system for cost coordination, as well as performance and quality inspection. Thus, in this study a legal and logical plan was developed that can be used to adjust the construction cost, along with the performance inspection of quality results, in order to introduce a pay adjustment system that is appropriate for domestic regulations.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.35-43
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• 2017

This paper explores the impact of corporate control, measured by ownership structure, on top-executives' compensation in Japan. According to agency theory, the pay-performance link is expected to be affected by the firm's ownership structure. Using a sample of 4,411 firm-year observations (401 firms for the 11-years period from 2001 to 2011) for Japanese non-financial firms publicly traded on the first section and second section of the Tokyo Stock Exchange (TSE), this study demonstrates that institutional ownership (both financial and corporate) is negatively related to the level of executives' compensation. Such finding is in line with efficient monitoring hypothesis which claims that the presence of institutional shareholders provides direct monitoring over managers, limits managerial self-dealing and curves the increase in top-executives pay. On the other hand, the results also show that managerial ownership is positively related to their compensation which supports managerial power theory hypothesis, i.e. management-controlled firms are more likely to extract more compensation from the business than other firms. Overall, this study confirms that corporate control has significant impact on cash compensation paid to Japanese top-executives after controlling the conventional pay-performance relationship.

• The Korean Journal of Health Service Management
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• v.5 no.1
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• pp.31-44
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• 2011

The objectives of this study were first to inspect the background information of an incentive pay system in hospitals, which provide specialized services for the public, the current status of hospitals with the system, as well as effects produced by introducing it, and then to come up with measures to invigorate the system. According to the findings of a survey, a total of 123 out of 150 hospitals responded that they applied the system to their HR management, some fully or some partially, which accounts for 82.0 percent. This study suggested that the following strategies to invigorate the incentive pay system: having a clear objective when adopting the system; concerted performance targets; practical yet worth challenging business objectives; transparent information disclosure; and establishing a confidence-building system between labor and management. Mutual trust between labor and capital should be a key factor for the successful implementation of the incentive pay system.

• International Journal of Highway Engineering
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• v.11 no.4
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• pp.133-142
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• 2009

This research is performed to estimate quality of trial pavement for construction and analyze effect of fatigue life by using the pay factor. Specially, asphalt content which is difficult to control the pavement quality, is selected by pay adjustment standard factors and pay factor is calculated by asphalt content. This research is also analyzed to present relation of fatigue life according to asphalt content, to evaluate quality of the road pavement by calculating pay factor of sampling trial field mixture 2 times. This research confirms that it is different quality of road pavement according to pay factor changes. To analyze the fatigue life of pavement by using asphalt mixture for trial field. As a result, it is conformed that high pay factor could be high fatigue life of trial field. This means that pay factor using probability theory reflects road pavement fatigue life. Also, this study is included that beam fatigue test manufacturing specimen such as mixing type of plant which purvey asphalt mixture to trial field, compared with fatigue life of trial field. As a result, the fatigue life of specimen that is manufactured by mix type is higher than trial field specimen. This means that performance of road pavement can be reduced by gradation or other effects. Therefore, to exactly evaluate the quality of road pavement, pay factor should be calculated appling various pay adjustment standard factors such as gradation, air-void in U.S. states which is adopted pay adjustment.

• Korea Trade Review
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• v.41 no.1
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• pp.67-90
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• 2016

This study examines whether there is any significant relation between executive compensation and future firm performance for the Korean export manufacturing small and medium-sized firms. We sorted the whole sample firms into the sub-groups of 10 deciles by firm size and the KSIC standard. We found the following empirical results. First, Korean export manufacturing small and medium-sized firms typically showed lower or even negative profitability in terms of return on equity and operating profit ratio to sales. Foreign equity ownership is very low with an average of 3.77%. Second, for the firms with higher ratio of excess executive compensation to asset had lower future firm performance. It implies that the typical owner-manager in Korean export manufacturing SMEs earns excess pay, but do not contribute much to firm performance. Third, as for future cumulative abnormal returns for future one- and three-year periods, firms with higher owner-executive pay had lower returns compared with firms with lower pay. So the stock market investors set a lower value on them. Fourth, there is a positive relation between excess executive pay and executive overconfidence, and it implies that owner-CEOs with higher pay may become overconfident, thereby lowering future firm performance somehow.

• The Journal of the Korea Contents Association
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• v.18 no.9
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• pp.424-432
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• 2018

Job-wage is "a compensation system in which the basic pay is determined by the value of the task regardless of the nature of the person performing the task." The retirement age of workers in 2016 is trying to improve the wage system due to the enactment of the 60-year-old law. The performance salary system introduced in the previous administration try to switch the government of Moon Jae-in. In other words, the introduction of performance salary from the Seniority based Wage and the shift to the job payment system are taking place. This study analyzed case agencies in connection with the transition of job wage to public agencies. In other words, based on the awareness of the employees involved to the contents of the transition of the performance annual salary system to the job wage system analyze empirically. This study finds that there was strong negative perception of the performance-based pay system as a whole and the shift to a job wage system was also highly opposing. It was revealed that efforts to improve the problem are needed to improve performance annual salary system, to reverse the negative perception of job wage, to prepare fair evaluation criteria for performance and job duty and to persuade employees who oppose job change.

• 한국태양에너지학회:학술대회논문집
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• 2008.04a
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• pp.318-323
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• 2008

First aim of this study is to investigate consumer's actual value for environment related performance of house by using three different method, Ranking, Analytical Hierarchy Process (AHP) and Conjoint Analysis method. Second aim is to estimate consumers' monetary value about environment related factor through Marginal Willing to Pay(MWTP), and third aim is to find out the difference of values between the groups classified according to respondents' characteristics. A questionnaire survey was carried out in Seoul in order to clarify the preference and monetary value of four selected attributes. They are environmental performance, residents' health, home automation and increase of floor area. As a result, people showed high values in the order of health, environmental consideration, increase of floor area and home automation. Moreover, it was found out that MWTP for environmental performance and health are higher than market price. In addition, the group of high age and group of female showed high values for the reduction of $CO_2$ emission

• Quality Improvement in Health Care
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• v.12 no.2
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• pp.61-71
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• 2006

• Journal of Internet Computing and Services
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• v.12 no.4
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• pp.51-59
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• 2011

The purpose of this study is to provide relevant directions of media industry regulation and policy by analyzing the relationship between market concentration and performance in global pay TV markets. The market concentration has long been regulated in the media industry under the belief that it harms market efficiency and cultural diversity. As the global media market is undergoing significant chance accelerated by the advance of technology, it is necessary to examine the feasibility of this long myth. The data are collected from global 17 pay TV markets and analyzed to see whether the highly concentrated markets by a single player result in higher price and slower service penetration. The result indicates that the price is not escalated and the penetration is not limited even in the markets where a dominant player takes high market share. It implies that more diverse factors other than the market concentration affect the market performance and that maintaining strict regulation of the market concentration is likely to have negative effect on technology innovation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.26
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• pp.87-111
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• 2005

The buyer must pay the price under the contract and must take delivery of the goods of contract. The buyer's obligation to pay the price includes taking such steps and such formalities under the contract. The remedial system of the rights of the seller is easier than that of the buyer, for the obligations of the former are less complicated. The seller has the right to avoid a contract provided two conditions are fulfilled : (a) the buyer must have committed a fundamental breach of contract, or (b) the additional period for performance set by the seller in the case of non-performance must have expired. A decision is more difficult to take in the case of a delay where there is no fixed-term contract, to clarify the situation the seller may set a Nachfrist. It is essential that the contracting parties in Korea should understand the provisions of CISG.