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

• Korean Journal of Community Nutrition
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• v.5 no.4
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• pp.672-682
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• 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 the Korea Academia-Industrial cooperation Society
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• v.18 no.11
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• pp.409-415
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• 2017

This study examines the effect of pay dispersion on labor productivity by focusing on the inflow of newcomers into the tournament and the outflow of stayers from the tournament. According to tournament theory, the expansion of pay dispersion within the organization contributes to enhanced organizational performance by attracting high performers externally and by removing low performers internally within the organization. However, previous studies regarding tournament theory have overlooked the participant aspects. Therefore, this study explores how external hiring and involuntary turnover influence the effect of pay dispersion on labor productivity. This paper hypothesizes that pay dispersion will have a positive effect on labor productivity. Moreover, this paper predicts that the inflow of new competitors will strengthen the positive effects of pay dispersion on labor productivity, whereas the outflow of incumbents will weaken this relationship. Empirical results showed that pay dispersion increased labor productivity and the inflow of newcomers strengthened this positive relationship. However, contrary to our prediction, the outflow of incumbents weakened the positive effect between pay dispersion and labor productivity. These theoretical arguments and empirical findings highlight the proper conditions should be equipped to practically achieve the positive effect of pay dispersion on labor productivity.

• The Journal of the Korea Contents Association
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• v.16 no.10
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• pp.693-700
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• 2016

The current study examined the relationship between satisfaction with pay and performance. The purpose of this study is not only to analyse the effect of pay satisfaction on job satisfaction and turnover intention, but to verify the moderating effect of LMX in order to provide a useful theoretical and managerial implication. The empirical results reveal that satisfaction of pay positively affects job satisfaction, but has a negative impact on turnover intention. It is also found a moderation effect of LMX between pay satisfaction and performance. The empirical results imply that an effective compensation management should be applied and an enhanced LMX effort has to be made to motivate employee.

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

• 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.

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

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