Purpose - Manufacturers in uncertain environments need to depend on governance mechanisms to reduce the inherent risk in these environments. However, few studies have examined which governance mechanisms a given manufacturers will develop in uncertain environments for managing the relationships with its vertical partner. This study explores how different governance mechanisms function under uncertain environmental circumstances. We also try to investigate the contextual effect of interfirm benevolence as moderator. Research design, data, and methodology - This research provide the conceptual framework of interfirm benevolence on which this research's propositions are predicted. The theoretical background for environmental uncertainty, governance mechanisms and interfirm benevolence will be discussed. Results - The expected results are as follows. Manufacturers in an uncertain environments rely on different governance mechanisms under conditions of high and low interfirm benevolence. In terms of role of interfirm benevolence, interfirm benevolence provides a better understanding of how governance mechanisms can develop in an uncertain supply markets. Conclusions - This research suggests several theoretical and practical implications between channel partners, particularly, this research offers that interfirm benevolence is a crucial competitive factor under environmental uncertainty situation. In future studies, it is necessary to investigate the effect of each governance mechanism structure on performance in an uncertain environment and various level of interfirm benevolence.

This paper aims to explore the risk governance framework and socially viable solutions, attempting to provide guidance for the decision making process. The key idea of this study start with overcoming the limitations of IRGC risk governance framework, which mainly focuses on a comprehensive framework for risk governance. This article has employed SWOT analysis as a methodology, which is a strategic planning technique used to help identifying the strengths, weaknesses, opportunities, and threats related to business competition or risk management. In this paper, socially viable solutions as an alternative plan place emphasis on the adoption of concern assessment through a concerns table. It is also proposed that scoping has to get introduced, with SWOT analysis in the process. The results of this paper support that multiple stakeholders have to participate in the process of identifying and framing risk and communicating with each other, considering the context. It should be noted that communities can become involved and take important parts in decision making process in various ways. It is recommended that engaging stakeholders to both risk assessment and risk management is material to dealing with risk in a socially viable way. It also implies that the community-based disaster management should be better prepared for the decision making process in socially viable solutions.

이 논문의 목적은 19세기에 조선정부가 울릉도 통치의 일환으로 실시한 울릉도 수토 연도에 관하여 기존 연구의 결과를 비판적으로 검토하여 재정리하고, 새로 확인된 수토 사실들을 보고하여 목록에 추가하며, 향후 수토 연구의 방향을 모색해 보는 것이다. 기존의 수토 연도 목록을 검토하여 수토 연도라고 보기에는 근거가 부족한 9개의 연도를 목록에서 삭제하고, 새로 확인한 1849년 이규상의 수토, 1853년 석충선의 수토, 1855년 이원명의 수토, 1873년 월송만호의 수토, 1879년 월송만호의 수토, 1883년 안영식의 수토 등은 목록에 추가하였다. 19세기 울릉도 수토는 약간의 문제점을 노정하고 있음에도 불구하고 조선정부가 영토관리 차원에서 수토제를 통하여 울릉도를 잘 다스려왔다고 평가할 수 있다. 울릉도 수토 연구의 방향은 이양선 및 표류 관련 연구와 연계하여 수토 연구의 외연을 확대할 필요가 있다. 그리고 전국적으로 다양하고 많은 수의 수토 사례와 연관시켜 연구함으로써 조선 정부의 통치행위로서 수토의 전체적 모습을 보여주는 것이다.

Purpose – The purpose of this research study is to make a comparative analysis between corporate governance guidelines 2016 and 2012 and area of further improvement to ensure better governance, accountability and transparency. Research design, data and methodology - This research study is mainly based on the corporate governance guidelines 2016 and 2012 issued by the regulatory authority known as Bangladesh Securities and Exchange Commission (BSEC). Results - This study finds that corporate governance guideline 2012 include some new issues such as criteria and qualification of independent director; some additional statements in the directors’ report; mandatory requirement of separation of chairman and CEO; constitution of audit committee; chairman of audit committee; role of audit committee, duties of CEO and CFO on financial statements; and collection of compliance certificate from professional accountant or secretary in compare to corporate governance guidelines 2016. Conclusions – This study suggests that the regulatory authority should include more issues such as tax management and reporting, risk management and reporting; individual and overall performance analysis of the board and independent directors; separate nomination and compensation committee; assessment of true independence of the board and its supporting committees to ensure higher quality of corporate governance and transparency.

Purpose – In this article, a dynamic model like a VAR is an appropriate choice for estimating the possible interrelationship between ownership structure and firm performance as a dynamic process. Research design, data, and methodology – Data of this work are collected from Chinese stock exchange including 350 Chinese-listed firms during the period of 1999-2012. We hypothesize that this interrelationship dynamically exists between ownership structure and firm performance. To examine the correlation, a panel Vector Auto-regression (PVAR) approach generated by GMM method is utilized to test the possible dynamic relation embedded in corporate governance. Another two dynamic analysis solutions such as orthogonalized impulse-response function and variance decomposition are also used simultaneously. Results – Findings of this study indicate the evidence that dynamically endogenous relationship exists between ownership structure and firm performance. Further, there is a dynamical correlation between investment and performance. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability. Conclusions – The conclusion in this study is that there is a bidirectional and inter-temporal effect between proportion of ownership and corporate performance for a long run in accordance with impulse response function. Overall, our results suggest that corporate governance in China is more market oriented.

The purpose of this paper is to review the quality of corporate governance from the prior empirical literature. This study finds that most of the researchers developed the self structured corporate governance index and few researchers used the corporate governance index provided by rating agencies. This study also finds that there is no uniform basis to measure the corporate governance quality and observed the variation in terms of overall and individual attributes of corporate governance; sub-indices of corporate governance; scoring system; weighted and un-weighted method; statistical method; time period; financial and non financial companies; code of corporate governance; listing requirement; disclosure practices; legal environment; firms characteristics; and country perspective. This study also observed that overall corporate governance quality is very low in most of the studies and even quality of corporate governance varies in the firms within the same country. This study recommends that the boundary of corporate governance quality should be defined based on the agreed set of rules and regulation, code of governance and practices. This study also suggests that the regulator and policy makers should more emphasize on code of corporate governance and regulatory framework and monitoring to improve the quality of corporate governance.

Scientific analysis and inter-Korean cooperation are needed to reduce North Korea’s environmental pollution and deforestation. Many efforts to reduce North Korea’s environmental issue have a fundamental weakness because they are generally influenced by internal and political conditions. To overcome such a weakness, two approaches may be effective; the first is to use new technology such as Google Earth and the second is to build collaborative governance that is invulnerable to political conditions. This study focuses on building collaborative governance models based on Google Earth data investigation, a previous research’s release of Google Earth database, and literature review of North Korea’s environmental issues. This research’s results are as follows. First, North Korea’s industrial regions suffer from environmental pollution and many other regions experience severe deforestation according to Google Earth-based spatial images. Second, we can discern environmental pollution such as air pollution, water pollution, soil pollution, and deforestation using Google Earth-based spatial image. In reality, we are able to identify deforestation and partially soil pollution with Google Earth-based spatial image. Third, there are different environmental problems among North Korea’s local regions. South Korea has to prepare and plan various collaborative governance models depending on North Korea’s local needs on environmental problems.

1995년부터 우리나라는 배출자부담원칙을 적용하여 쓰레기종량제를 시행하고 있으며, 이와 더불어 음식물류 폐기물도 생활폐기물과의 혼합배출을 금지하고 2014년부터 종량제 사용을 의무화 하고 있다. 시간이 경과함에 따라 이 제도는 폐기물의 관리 및 발생억제를 위해 어느 정도 잘 추진되고 있다고 할 수 있으나, 최근 들어 타지역에서 온 사람들이 모여 형성된 자취촌에서는 쓰레기 배출로 인해 사회적 문제로 대두되고 있다. 대표적인 곳이 대학교 원룸촌이라 할 수 있다. 대학교 원룸촌의 주거인은 대부분 학생으로, 대학교에 입학하기 전까지는 부모님과 함께 생활하였기 때문에 정확하게 쓰레기를 배출하는 방법을 모르는 경우가 대부분이다. 학생들은 정확한 배출방법을 모른채 무단투기를 하게 되고, 수거업체는 무단투기된 쓰레기의 미수거하게 되며, 이로 인한 민원이 발생하게 된다. 혹 원룸주인이 학생들의 무단투기를 하는 모습을 볼지라도 행정기관에 신고도 할 수 없는 상황(학생은 원룸의 고객이므로)이 만들어지고, 결국 대학교에 대한 부정적 이미지를 초래한다. 이러한 악순환을 해결하기 위하여 “대학가 쓰레기 문제 해결을 위한 추진 협의체(이하 추진 협의체)”를 구성하였고, 이는 사회적 상호작용인 거버넌스 활동이라 할 수 있다. 이 논문의 초점은 이미 쓰레기 문제가 사회적 이슈로 부각된 만큼, 원룸촌에서 발생된 쓰레기 문제에 대해서도 사람들의 인식변화 및 행동변화를 일으킬 수 있는 거버넌스 활동이 실제적으로 배출되는 쓰레기 성상에 변화를 가져왔는가를 조사하는 것이다. 따라서 K대학교 원룸촌을 대상으로 하여, 거버넌스 활동(추진 협의체)을 실시하고, 거버넌스 전과 후에 대학가 원룸촌에서 배출된 쓰레기의 물리적 성상에 어떠한 성상변화가 있는가를 조사･분석하였다.

This study examines whether Korean rating agencies such as Korea Investors Service (KIS), National Information & Credit Evaluation (NICE), and Korea Ratings Corporation (KR), incorporate corporate governance into their corporate bond ratings in Korea. We find that the Korean rating agencies assign higher ratings to the bonds issued by Chaebol (Korean business group) affiliated firms. Our results also indicate that those rating agencies give higher ratings to the bonds with greater foreign investor share ownership. Moreover, if the rating agencies value corporate governance, higher rated firms should issue bonds at lower yield to maturity. We discover that Chaebol affiliation is counted favorably by the rating agencies. We find that investors are willing to pay lower risk premium for bonds with higher institutional ownership, but higher risk premium to bonds with greater equity ownership in the form of depository receipts. Therefore, even if the rating agencies and investors in Korea consider corporate governance (Chaebol affiliation and ownership structure) an important determinant in bond ratings and the yields to maturity, they have opposite views on institutional ownership and share ownership in the form of depository receipts

Purpose – The purpose of this study is to investigate the effect of corporate governance practices such as (board size, board composition, CEO duality and audit committee) on the performance of selected Pakistani firms. Research design, data, and methodology – This study examines corporate governance structure by using the data of 80 non-financial firms listed on Karachi Stock Exchange Pakistan during 2010-2014. Hypotheses of the study were tested by using both descriptive and inferential statistics. Result – The findings indicate that board size and audit committee is positively related to the firm performance (ROA & ROE). In contrast, board composition and CEO duality are negatively related to the firm performance (ROA & ROE). As far as controlling variables is concerned, leverage is negative, whereas firm size is positively related to all measures of performance. Conclusions – Empirical findings concluded that corporate governance practices affect the firm performance. Therefore, it is suggested that managers should understand the governance mechanisms to work more efficiently in the firm

Purpose This study first explores – the possible dynamic relationship between ownership structure and firm performance using a panel of 4,900 Chinese-listed small- and medium-sized enterprises (SMEs) from 1999 to 2012. Research design, data, and methodology – We address this issue through a dynamic panel model using a method of moments (GMM) technique and dynamic simultaneous equations to alleviate the potential endogenous problem: unobserved heterogeneity, simultaneity, and dynamic endogeneity. Results – Under the framework of dynamic endogeneity, firm performance has a significantly positive influence on ownership, but not vice versa. Ownership and performance can be explained by their owned lagged values, respectively. Moreover, intertemporal endogeneity exists among ownership, investment, and performance through the application of system dynamic equations, which implies that the relationship among ownership structure, investment, and firm performance is dynamic by nature. Conclusions – This study also significantly contributes to a better understanding of dynamic corporate governance by providing further empirical evidence from the largest capital market in the Asian region.

Purpose – This aim of this study is to examine how conglomerates in Korea have evolved from the perspective of institutional economics. The growth of the economy, dominated by large conglomerates, is projected in light of the dynamic equilibrium between government and capitalists. Research design, data, and methodology – The historical formation of big business groups is examined in chronological order. For the analysis, we divide the assessment into three different eras: Japanese colonial rule, liberation up to the civil war, and the fast growing period since the military coup. Each period is viewed as a dynamic equilibrium that is shaped by economic agents. Results and Conclusion – Despite the rise of modern commerce during the colonial era, contemporary conglomerates came into being with the "enemy property" allotted by the government. Around the civil war, the government coexisted with prototype conglomerates through foreign aid. As the external aid decreased, the system could not be sustained anymore, thus the military coup took place. The reinstated strong bond between government and the conglomerates has shaped the forms of the modern conglomerates thereafter.

Purpose – Following globalization, Kazakh companies are considered to be among the main economic agents of the country. The influence of Limited Liability Partnerships (LLPs) on Kazakhstan's economic development is becoming increasingly pronounced. Therefore, limitations and backwardness of legislation regarding regulation of corporate governance must be overcome at the earliest. Research design, data, and methodology – We considered the basis for legislation of corporate governance in Kazakhstan, and the corporate governance models that better describe the situation of being in the organization. Results – Earlier studies have identified several problems, including "transparency" of issuers and markets, and the consequent lack of (undeveloped) external control of managers of the former state-owned enterprises; lack of traditional corporate ethics and culture; and corruption, and other criminal aspects of the problem. This article describes several proposals to improve corporate governance in Kazakhstan to solve these problems. Conclusions – Domestic reformers acting without consideration of local features is a common occurrence today. They often ignore that these features are recommended for reputable international organizations, and therefore should be used carefully.

As rural development projects, mostly carried out in a top-down development method in the past came to take a bottom-up development method in earnest, entering the 2000s, resident participation became an essential element of a rural community design project, to the extent that it can influence the success or failure of a rural community design project. It is taken for granted that rural residents independently participate in community design projects, but as they are accustomed to various subsidy projects carried out by the government and become increasingly aging, it is not easy to induce their spontaneous participation in farming areas with such problems. Especially, to prevent the distrust between administrative agencies and residents from serving as an obstacle in the residents' spontaneous participation, it is necessary to construct horizontal governance among the village residents, administrative agencies and the group of experts supporting for the project. This study attempted to verify the mediating effect of governance in the relationship between resident participation and the performance of the rural community design project based on this problem recognition, and for this purpose, the results of a survey with residents in Utturu Village, Hangyeong-myeon, Jeju-si, which was completed by carrying out a comprehensive rural development project, the typical bottom-up community design project was used for an empirical analysis. The results of the study can provide implications for setting directions, establishing strategies and constructing governance of rural community design projects in the future, and especially, it can be said that this study has academic significance in that governance is recognized as an important variable related to the project performance.

“안전하다”는 말을 어떻게 하면 “안심하고” 믿을 수 있을까? 본 발표는 흔히 동일시되는 “안전”과 “안심” 이라는 두 개념의 기점에 깔려있는 인식론적, 존재론적 차이를 살펴보고, 이것이 어떤 실천적인 행태로 나타나는지 알아본다. 더불어 두 다른 개념의 혼재에서 빚어지는 현재의 재난관리 시스템의 문제점들을 지적한다. 2011년 후쿠시마 사태 이후 한국 정부는 수산물 안전관리를 위해 각종 대책들을 내세웠지만, 대중들의 반응은 한결같이 “못 믿겠다”는 반응이었다. 대중들을 안심시키기 위해 식품의약품안전처장이 수산물을 직접 먹는 모습을 보이기도 했지만, 대중들은 안심은커녕 정부에 대한 높은 불신만을 쌓아갔다. 본 발표는 과학적, 기술적으로 보장되는 “안전”과 그렇지 못하는 “안심”사이의 긴장 관계를 밝히고, 재난 관리에 대한 새로운 접근법이 필요함을 주장한다. 긴장관계 형성 과정에서 발견되는 지역적 맥락의 특수성을 밝히고, 진정한 안전, 안심 사회를 이루기 위해서는, 수치적으로 표현되는 안전 기준에 매달리던 기존의 재난 관리 (disaster management) 시스템에서 벗어나, 다양한 행위자들이 함께 참여하여 집단적 성찰을 이루어내는 새로운 형태의 재난 거버넌스 (disaster governance)가 필요함을 강조한다.

This research estimates the necessity of a better governance plan on the purpose of fulfillment energy recovery by building resource recycling system for biomass resources and waste resources that derive from agricultural and mountain village areas. The utilization of new renewable energy technology which uses waste and biomass sources diverse as variety of resources, collecting method, operator etc. and is structurally complicated the formation of policy is also very difficult. There is failure because of the problems which occurs from the policy led by government. Biomass Town Development Project should be made through the central government and the local government integrated support system and should be formed a consultative group in order to process the project mutually with these two department including the experts from the related areas. This consultative group, while government organizations carry out the hub function of strategic knowledge management, should carry out the control tower function to be able to be net working transfer the information with the cooperation of private and government so vitalize the communication area among the related actors. And to be able to increase the participation rate of the local people the consistent and various educations should be given so a smooth business promotion progress will be desired through the change of perception and coactive participation of people.

본 연구에서는 물환경 정책 및 계획의 추진과정에서 발생할 수 있는 갈등을 풀어나갈 수 있도록 다양한 이해당사자들의 참여, 투명한 정보공개, 객관적 의사결정과정, 개별 이해당사자들의 의견 반영 등 합의형성을 위한방법론 또는 도구로서 합의형성 지원시스템을 제안하였다. 개발된 합의형성 지원시스템은 물환경 문제에 대하여 영향력을 가진 특정 집단이 해결안을 제시하여 강요하거나 설득하는 구조 대신에 다양한 이해당사자의 참여를 바탕으로 한 공동적 문제해결 방식을 기반으로 하였다. 즉, 합의에 도달하기 위해서 협상 및 조정과 같은 상호작용을 통해 이해관계를 조정하여 이해당사자들 스스로 갈등을 해결할 수 있는 환경을 제공한다는 것이다. 개발된 합의형성 지원시스템의 적용성을 검증하기 위하여 한탄강댐 건설 사례에 대한 제한적인 롤플레잉 모의실험을 수행하였다. 본 연구는 합의형성 지원시스템의 적용을 통해 정부가 지역사회나 NGO 등과 공론의 장을 마련하여 적극적으로 합의형성을 이룰 수 있도록 노력한다면 협상의 효과를 한층 높일 수 있음을 확인할 수 있었다.

본 논문은 게임 거버넌스의 핵심적 요소로서 게임등급시스템을 분석하고, 주요 행위자들 사이의 균형과 조정, 그리고 문제지점을 조망할 것이다. 일반적으로 등급시스템은 일련의 합의적 절차에 의해 수행되는 안전메커니즘으로 간주되지만, 한국에서 등급분류는 사실상 게임물의 생사여부를 결정하는 사법메커니즘 또는 규율메커니즘으로 작동하고 있다. 국내의 관련 이해당사자 집단들이 대체로 자율등급시스템의 형성에 동의하고 있음에도 불구하고 안전메커니즘으로의 이행이 어려웠던 기원에 대해 고찰한다면 한국의 사회문화적 상황에 맞는 게임 거버넌스 모델을 위한 담론형성에 기여할 수 있을 것이다.

이 연구의 주제는 우리나라의 선도 해항도시(sea port city)이자, 국가 해양수도(ocean capital)의 비전을 지향하는 부산시를 대상으로 하여, 해양행정과 해양정책의 발전방향을 창조적인 해양거버넌스 구축의 관점에서 다루어 보는 것이다. 원래부터 해양이 가진 공유자원적 성격은 불특정 다수 이용자간의 '접촉과 갈등'이 발생하기 쉬우므로, 관련자들의 다양한 이해관계를 조정하는 새로운 '거버넌스(governance)방식'이 필요하다. 해양거버넌스는 비정부 행위자의 참여메커니즘을 전제하고, 상호 신뢰와 협력체제를 축으로 이해관계상의 연계망과 공동생산의 방법을 중요시하는 개념 혹은 기제이다. 정부, 기업, 시민, 전문가를 대상으로 한 조사연구의 결과, 현재 부산에서 나타난 해양거버넌스 형성정도는 보통 이하의 비교적 낮은 수준이었다. 향후 해양거버넌스 형성을 위한 원인으로는 정부차원에서 해양행정(정책)의 최고관리자인 시장의 관심과 중간관리자인 부서장의 태도, 기업차원에서는 경영진의 관심과 태도, 시민차원에서는 해양NGO의 전문성과 신뢰성이 각각 중요한 요인으로 나타났다. 결론에서는 이러한 결과들을 토대로 바람직한 해양거버넌스를 구축할 당위성과 여러 실천적인 대안을 제시하였다.

본 연구는 대리인 이론의 관점에서 뉴욕 뉴저지 항만공사의 거버넌스 제도가 어떻게 공기업의 대리인 문제를 극복하고 있는지를 분석하고, 우리 나라의 항만공사 거버넌스 제도 개선에 도움을 줄 수 있는 시사점을 발견하는 것을 목적으로 하고 있다. 뉴욕 뉴저지 항만공사는 인사권의 분산, 회의 공개 정책, 정보 공개 정책, 공청회, 재정적 독립 채산제 등과 같은 거버넌스의 특성을 지니고 있는 것으로 분석되었다. 그런 거버넌스적 특성들이 주인의 대리인에 대한 감시 감독 강화, 주인-대리인 사이의 정보 비대칭성 완화, 조직 소유관계의 명확화 등을 통해, 역선택, 도덕적 해이, 복합적 외부 구조 등의 공기업 대리인 문제들을 효과적으로 극복하는 데 도움을 주고 있는 것으로 나타났다. 이런 특성들은 우리 나라 항만공사의 거버넌스 제도를 설계하는 데에 시사하는 바가 많다고 생각된다.