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총 202 건의 자료
조직의 차등 성과급 균형 운영과 조직 소통 그리고 일의 만족 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
In today"s workplace, most organizations use rewards as a tool to enhance performance and promote employee motivation. However, the debate over the effectiveness of differentiation in reward continues, with existing studies focusing on the comparative advantages of individual and group incentives in such differential rewards. As a result, little is known about how to balance these two incentives to maximize their benefits. Drawing on the optimal uniqueness theory, we propose that balancing the proportion of individual and group incentives has a positive effect on employee motivation and performance. Specifically, when the proportion of individual-based and group-based incentives is balanced, employees can maintain both personal and social identities, which in turn satisfies their personal and social needs. To verify these theoretical discussions, we used the Human Capital Corporate Panel survey data collected by the Korea Vocational Competency Research Institute. We found that organizations that maintain a balanced proportion of individual and group incentives have a positive effect on organizational communication perceived by employees, which in turn has a positive impact on overall work satisfaction. Furthermore, the study also found that the indirect effect of a balanced incentive system on work satisfaction occurs through organizational communication. Theoretical and practical implications are discussed.
재벌 총수의 수감 및 사면경험이 기업의 탄소배출량에 미치는 영향: 재벌기업을 중심으로 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
This study investigates the effect of the imprisonment and clemency experience of Chaebol heads on the amount of firm’s carbon emissions. Using data of Korean Chaebol firms between 2015 and 2019, we find that firms with the imprisonment and clemency experience of Chaebol heads are negatively associated with carbon emissions and abnormal carbon emissions compared with firms without those experiences. The results imply that firms with the imprisonment and clemency experience of Chaebol heads care about the amount of carbon emission to fulfill their environmental responsibilities although the amount of carbon emissions is not the public interest. Moreover, we find that firm value is decreased when firms with the imprisonment and clemency experience of Chaebol heads reduce the amount of carbon emissions. This finding suggests that market perceive firm’s carbon emission reduction as an opportunistic behavior. Taken together, this study contributes to carbon emissions literature by providing evidence of individuallevel effect on the amount of firm’s carbon emissions.
정보원의 공신력이 오정보의 진위여부 판단에 미치는 영향: 수용자 속성의 조절효과를 중심으로 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
Few people will be able to live a day without being exposed to information. Whether it"s through books, YouTube or Internet searches, people live by searching and accepting various information every day, with different routes. However, compared to the vast amount of information, people have physical limitations, including time and cognition, so they process all the information exposed to them in their own ways. Among the various problems that may occur in this process, the damage caused by the inclusion of misinformation in the individual"s information acceptance process is so great that it cannot be overlooked. Therefore, in order to create a healthy information accepting environment, this study focused on exploring factors that affect the process of recognizing information as fact or false when people encounter it. As a result of empirical analysis of the structural model using PLS-SEM, the source"s credibility had a significant effect on the perceived falsity of the information. It was also confirmed that the effect of confirmation bias was significant among the moderating effects of the three receiver characteristics. In other words, the greater the belief in the source who provides information, the higher the level of a true recognition of the provided information, and the difference in the degree of influence of public confidence on the information acceptance process is occurred depending on each person"s opinion.
신용등급이 기업투자 행동에 미치는 영향 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
This paper quantifies the causal effect of borrowing cost on firms’ investment decisions. To overcome the empirical challenge due to a possible reverse causality where firms’ investment prospects affect their borrowing costs, I apply an instrumental variable methodology where the identification comes from insurance companies’ regulatory constraints regarding the credit rating of their bond holdings. Ratingbased regulatory constraints are more binding for insurers with a weaker capital position. For this reason, bonds upon downgrades face different degrees of selling pressure depending on the different capital positions of their holders. Such differences are presumably not correlated with issuers’ investment prospects. Using data from 2004-2010, I estimate that a one percentage-point increase in bond spread reduces investment during the same year by 12 percent. Moreover, a five percentage-point increase in bond spread halves the probability of new debt issuance.
ESG 활동이 종업원의 행동에 미치는 영향: 조직신뢰와 조직동일시를 통하여 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
In order to find out how the company"s ESG activities affect the company"s employees, this study examines the relationship between the employees" perceptions of ESG activities, organizational trust, organizational identification, innovative behavior and organizational citizenship behavior. In addition, the mediating effect of organizational trust and organizational identification was confirmed in the relationship between perceptions of ESG activities, innovative behavior, and organizational citizenship behavior. As a result of the analysis, first, it was confirmed that the corporate employees" perceptions of ESG activities had a significant effect on organizational trust and organizational identification. Second, it was verified that organizational trust and organizational identification had a significant effect on employees’ innovative behavior and organizational citizenship behavior. Third, the mediating effect of organizational trust and organizational identification in the relationship between employees" perception of ESG activities, innovative behavior, and organizational citizenship behavior was verified. Through this study, it was verified that the higher the employee"s perceptions of ESG activities of the incumbent company, the more positively their trust and identification with the company were affected. By empirically verifying the impact of employees" perceptions of ESG activities, I would like to suggest the importance of strengthening ESG activities, which has recently become a hot topic in management.
개별주식선물 상장이 기업의 재무보고 의사결정에 미치는 영향 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
This paper analyzes the financial reporting decisions of firms whose single stock futures are listed in the derivatives market of the Korea Exchange (KRX). Given that Korean derivatives market volume is growing, it is necessary to investigate how the derivatives market affects the firms" accounting information. We find that firms have higher financial reporting quality and more disclosures after single stocks are listed in future market. Our findings provide contributions to the studies on the financial reporting quality by demonstrating the effect of single stock future on firms’ financial accounting behaviors.
주요 고객사의 장기 인센티브와 공급사의 성과 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
This paper examines the relationship between major customers’ long-term CEO incentives and supplier firms’ performance. Long-term equity incentives encourage CEOs to pursue relatively long-time horizons, potentially influencing certain relationships with slanted bargaining power. We predict and find that major customers’ long-term CEO incentives, as measured by CEO incentive for unvested equity, are positively associated with supplier firms’ profitability, partially through a reduced emphasis on myopic price-cuts. However, we also find that customers’ equity incentives appear to decrease suppliers’ operational efficiencies and cost elasticity, implying that suppliers bear burdens of implementing stable resource supplies in exchange for the price protection from the customers. Collectively, our results suggest that customers’ long-term incentives may have multifaceted consequences on suppliers’ performance and operations.
외부 보조금이 사회적 기업의 자립에 미치는 영향: 기업 성향에 따른 차이를 중심으로 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
As social enterprises are regarded as key players in solving social issues, they have opportunities to receive various financial supports from external sources to acquire operating capital and establish foundations for growth. However, there is growing concern that dependence on outside support may discourage them from building the basis for self-sufficiency, potentially leading to business closure once the support ceases. In this study, I examine how outside subsidies affect social enterprises’ ability to generate operating income, and how this relationship differs across enterprises" management styles. Using data from the Center for Social Value Enhancement Studies, I find evidence that, while outside subsidies generally have a negative effect on social enterprises’ future performance, this effect is mitigated for enterprises that are market-oriented, entrepreneurial, and independent.
이해관계자 이론의 비판적 검토 | 2023.05.02
기타 | 경영학연구 (한국경영학회)
Although there exists a significant body of research that criticizes stakeholder theory overseas, it has not been actively discussed in Korea. Five major problems of stakeholder theory are identifed through extensive literature review. First, Freeman’s definition of stakeholder, which is still widely used, is simply too ambiguous. Stakeholder theorists not only include competitors, government and media as stakeholders, but they also include animals and terrorists as stakeholders. Second, imposing multiple fiduciary duties to stakeholders is unethical by itself and may result in manager’s moral hazard. Third, since the interests of stakeholders are well protected by contract law and regulation, additional protection may be redundant. Fourth, stakeholder theorists have been insisting on stakeholder participation on the board (especially labor). But evidence from Germany suggests that it is not working well. Fifth, so-called ‘stakeholder management’ is even more ambiguous and simply re-state existing managerial principles. In addition, three misunderstandings about shareholder primacy model are discussed. First, the purpose of shareholder primacy model is to protect shareholders because shareholders, who are residual claimants, are the most vulnerable stakeholder among all other stakeholders. Second, the current shareholder primacy model does not assume that shareholders ‘own’ the corporation. Third, it was the managers who harmed the company and shareholders in financial scandals such as Enron and Worldcom, not the other way around. Finally, it is suggested that long-term shareholder view can also protect stakeholders’ interests as much as stakeholder theory promises.
투자자 심리지수와 투자자의 비합리성에 관한 연구 | 2023.03.08
기타 | 경영학연구 (한국경영학회)
Previous studies in the field of behavioral finance suggest that investors’ irrational behavior induces the difference between stock price and fundamental value. Uninformed investors with cognitive biases tend to make irrational investment decisions, such as herding, overconfidence, and loss aversion, rather than rational investment decisions. To find that mispricing is caused by investors’ irrational behavior, many studies focus on suggesting investor sentiment indicators constructed using surveys, transaction data, and textual data. We systematically review the literature regarding investor sentiment indices depending on the type of data and discuss the limitations of each index. Based on such limitations, we suggest ways to improve the measurement of each sentiment indicator.
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