The religious organization members have a unique take on the spiritual factors related to their daily life. The present study contributed to the lack of discussion investigating this particular pool of data’s financial behavior. This article regressed several predictors of economic behavior, i.e., the locus of control, financial attitude, income, and religiosity, with 460 respondents. The results of the research are as follows: Financial attitude partially influences the financial behavior of Muhammadiyah committee members. Income partially influences the financial behavior of Muhammadiyah committee members. This research indicates that income is one of the factors that plays an essential role in determining the merits of improvement of the financial behavior of Muhammadiyah committee members. The higher the level of income received by Muhammadiyah members, the higher the desire to spend the money. Religiosity partially influences the financial behavior of the religious board of Muhammadiyah members in Indonesia. The higher the religiosity of Muhammadiyah committee members will encourage better financial management. Religiosity indicates how often individuals or Muhammadiyah members practice the religious sharia that they embrace. The findings of this study reveal that locus of control, financial attitude, income, and religiosity are the strong predictors of the board of the religious organization’s financial behavior in Indonesia.

The board of directors play an important role in corporate climate strategy-making and decisions but might also compromise environmental policies to minimize agency cost. This study critically investigates the relationship between the attributes of the board of directors and the degree of sustainability performance for the energy sector as discussed in the literature. Our study cumulates existing knowledge offering important characteristics for a balanced board structure to increase the board’s effectiveness in adopting sustainable initiatives that could reduce the adverse impact of an energy corporation’s operation on the environment. Crucial attributes of the board of directors deemed to be positively associated with the commitment to reduce carbon footprint in the environment have been identified. Based on our extensive analysis of the literature we propose a conceptual framework that measures the influence of the board of directors’ attributes on corporate environmental and social sustainability performance. The proposed framework will be useful as an initial step for top management and regulators to gain a better understanding of the balanced board structure required to achieve the social and environmental sustainability performance of corporations. Further, this paper contributes to a body of knowledge about how the board of directors could play a crucial role in monitoring social and environmental threats.

Over the last few decades, corporate frauds have highlighted the significance of corporate governance in deriving firm performance. By using different sample data, extensive research has examined how corporate governance structure influences firm’s profitability, but limited research was undertaken on the banking sector of Pakistan. This research adds to the literature by testing how board structure derives bank’s performance by using sample data of 19 banks for the period from 2010 to 2017. In addition, the study analyzes the controlling part of size on the link between board governance and bank performance. Findings reveal that banks having small board size, fewer non-executive directors and minimum activity level perform better. Analysis related to bank size illustrates that board size has value in increasing benefits in large size banks in contrast to small size one, while higher participation by board members enhances performance of small size banks more. The correlation results and findings showed that there existed no multicollinearity issue between independent variables. Board size showed positive correlation with the market variable, while board activity tended to correlated negatively with the market performance. Inverse correlation between board size and independent directors indicated that Pakistani banks with greater board size had fewer independent directors.

This study examines the relationship between the attributes of board structure and the likelihood of financial distress for the non-financial sector of an emerging market characterized by concentrated ownership and family-controlled business. The present study utilized panel logistic regression to estimate the relationship between board structure attributes and the likelihood of financial distress. We used Altman Z-Score as a proxy for firm financial distress, as this tool measures the financial distress inversely. The study finds a significant relationship between board size and the likelihood of financial distress. The results show that a one-unit increase in board size would decrease the probability of financial distress by 3.4%. Further, we observe that a greater level of board independence is associated with a lower likelihood of financial distress. A one-unit increase in board independence would decrease the probability of financial distress by 20.4%. We also find a significant positive impact of leverage on the likelihood of financial distress. The present study contributes to the body of literature on board structure attributes and likelihood of financial distress in emerging markets, like Pakistan. Furthermore, the findings would be beneficial for corporate policymakers and investors in formulating corporate financial strategy and predicting business failure.

The aim of this paper is to review the role of board size as part of the corporate governance system. This paper discusses one aspect of corporate governance, namely, boards, in the Indonesian context. Using the literature review method, this paper explores factors that need to be considered to determine the optimal number of boards, especially in Indonesia. We explore some determinants of board size, such as complexity and leverage, ownership structure, and financial ratio support. The results reveal that an understanding of the differences found in the two-tier board model helps us understand that the different functions of the board of commissioners and the board of directors require different test treatments from countries that adhere to one-tier systems. A review of the relationship between board size and company performance is expected to provide the corporate governance literature with insights into optimizing the sizes of boards that can improve company performance, both in terms of boards of commissioners and boards of directors. This paper proposes the simultaneous testing of board size’s relationship with company performance. The results of this study are expected to make a more real contribution about the effect of board size on company performance.

The main purpose of this study is to investigate the potential effect of ownership concentration on the relationship between board composition and bank performance. The study employs a sample of Saudi banks listed on Saudi stock exchange (TADAUWL) over the period from 2011 to 2018. To test the study hypotheses and control for endogeneity issues, the Ordinary Least Square (OLS) and the Two-Stage Least Squares (2SLS) techniques are used. The empirical results reveal a significant negative moderating effect of ownership concentration on the association between board composition and bank performance, which confirms the study argument and supports hypotheses. The results indicate that board composition in terms of independent board members, executive board members, and non-executive board members in banks with higher ownership concentration have a weaker positive influence on bank performance. For control variables, the results are almost consistent with theoretical perspectives and previous empirical evidence. The results of this study have important implications for regulatory authorities, companies, and market participants in Saudi Arabia and countries with high concentrated ownership to understand how ownership concentration could affect corporate governance and firm performance and to identify appropriate actions to protect board composition from the influence of ownership concentration.

The research identifies hypotheses evaluating the impact of board characteristics on the risk of the commercial bank as well as examining the determinants of bank risk in Vietnam over a 10-year period, starting from 2008. Also, in this research, the differences between the roles of women and men in decision-making are tested. Based on this decision, risks of the banks may arise. Ordinary least squares (OLS) regression, Random effect method, and Fixed effect method are used to estimate the factors that have an impact on bank risk for dataset of all commercial banks in Vietnam. The results found that equity-to-asset ratio, bank performance and the economic growth have an inverse relationship with bank risk, while the size of bank has a positive relationship with the bank risk. One of the highlights of this paper is a demonstration of the relationship between CEO’s gender and bank risk. The test result shows that the bank led by a female faces a higher overall risk level and credit risk than a bank led by a male. Based on this result, the paper also makes recommendations to Government, the State Bank of Vietnam and the commercial banks for effective risk management.

본 연구의 목적은 선상에서 열수광물 내 Au를 효과적으로 용출하기 위한 마이크로웨이브-차아염소 산 용출의 적용 가능성을 파악하는 것이다. 비교용출실험은 마이크로웨이브 질산용출의 유(T1)/무(T2)에 따른 Au 용출율의 영향을 확인하였다. 또한, 기계적 교반에 의한 전통적인 용출(T3)과 마이크로웨이브 용출에 따른 Au 용출율을 비교하였다. 마이크로웨이브 질산용출결과(고액비; 10%, 용출온도; 90oC, 용출시간; 20분), 금속의 용출율은 As>Pb>Cu>Fe>Zn 순으로 높게 나타났으며, 용출잔사 내 Au의 함량은 33.77 g/ton에서 60.02 g/ ton으로 증가하였다. 염화물 용매제를 이용한 비교용출실험 결과, Au의 용출율은 T1(61.10%)>T3(53.30%) >T2(17.30%)순으로 높게 나타났다. 따라서, 해수를 이용하여 제조 가능하고 용출과정에서 발생되는 염소 가스를 포집하여 재이용 가능한 염화물은 Au용출을 위한 최적의 용매제로 예상된다. 또한 마이크로웨이브를 적용함으로써 시간, 효율 및 에너지 측면에서 효과적일 것으로 판단되어진다.

This paper describes the initial operations and preliminary results of the Instrument for the study of Stable/Storm-time Space (ISSS) onboard the microsatellite Next Generation Small Satellite-1 (NEXTSat-1), which was launched on December 4, 2018 into a sun-synchronous orbit at an altitude of 575 km with an orbital inclination angle of 97.7°. The spacecraft and the instruments have been working normally, and the results from the observations are in agreement with those from other satellites. Nevertheless, improvement in both the spacecraft/instrument operation and the analysis is suggested to produce more fruitful scientific results from the satellite operations. It is expected that the ISSS observations will become the main mission of the NEXTSat-1 at the end of 2020, when the technological experiments and astronomical observations terminate after two years of operation.

The study investigates the association between the effectiveness of the board of directors and the likelihood that a company receives a modified audit opinion (as a measure of the quality of companies’ external financial reporting) in Malaysia. The sample companies were extracted from the population of publicly-available information mainly the annual reports of publicly-listed companies on the Bursa Malaysia. 136 firm-year observations listed on Bursa Malaysia were identified to examine the relationship between the effectiveness of the board of directors and a modified audit opinion. Data used in this study are collected from two separate sources – annual reports and Datastream. Any missing financial figure from Datastream was acquired from the annual reports. To test the study’s hypotheses, we use the pooled cross-sectional logistic regression analysis for 136 firm-year observations listed on Bursa Malaysia over the period 2009-2011. The evidence we have uncovered is consistent with the hypothesis that companies with large score of the board of directors’ effectiveness are less possible to receive a modified audit opinion. Therefore, the result confirms that the combined effect of the board of directors’ characteristics has a significant negative association with the likelihood of the companies receiving a modified audit opinion.

This paper investigates the effect of the involvement of the board chairman in the audit committee (AC) on earnings management (EM). It examines Bursa Malaysia-listed companies with the lowest positive earnings for the years 2013 to 2015. The Modified Jones Model by Kasznik (1999) was used to determine discretionary accruals. An AC that includes its board chairman as an ordinary member is associated with greater discretionary accruals. However, a board chairman who is also the chairman of the AC does not seem to influence discretionary accruals. This paper supports the agency theory and policy-makers’ efforts to prevent board chairmen from sitting on ACs. It is the first study that uses the agency theory to describe the association between the board chairman’s involvement in the both AC and EM. This study alerts policy-makers, stakeholders and researchers to the influence of a board chairman serving on the AC in curbing EM. Furthermore, it provides empirical evidence that the majority of Malaysian companies whose board chairmen are involved in the AC appoint the chairman as an ordinary member of the AC. This indicates that executive directors may affect such actions. Hence, more policies are needed to improve AC independence.

The objective of this paper is to explore how board gender diversity affects corporate sustainability performance. Therefore, this paper examines the direct association between board gender diversity with corporate sustainability performance and the mediation effect of enterprise risk management (ERM) on this association. The study employed a cross-sectional survey method. Data were collected from annual reports, websites, and through the questionnaires that were distributed to Chief Financial Officers (CFOs) of all the listed companies of Dhaka Stock Exchange, Bangladesh. The partial least square technique of Structural Equation Modelling (SEM) approach was employed for data analysis. The result did not find support for the direct association between board gender diversity and sustainability performance in Bangladesh context. This implies that contextual factors, such as, male-dominant board, appointment of female directors based on family ties, lack of education and expertise etc. may discount gender diversity direct influence on sustainability performance. However, the study finds strong support for the mediating role of ERM use within the corporate structure. Further analysis of indirect effect suggests that ERM use mediates the relationship of board gender diversity and sustainability performance in full. This implies that in the Bangladesh context effective use of ERM is highly recommended.

The main objective of this research is to investigate the impact of board size and board composition on financial performance of banks. The sample of this study consists on two countries listed bank sector Pakistan and China. The annul data is used from 2009-2018 to find the objective of this study. The Panel regression model is used to check the relationship between dependent and independent variables. Return on Asset and Return on Equity is used as performance checker dependent variables. The results of this study confirm board size coefficient value positive for ROA and negative for ROE but shows insignificant behavior for Pakistani banking sector while in Chinese banking sector the coefficient value of board size positively for ROA and ROE at 10% level. The board composition coefficient shows the negatively significant with ROA but insignificantly related to ROE for Pakistani banking sector. However, in Chinese banking sector the coefficient value of board composition is insignificant for both ROA and ROE. This study is helpful for banks, management of banks, policy makers, researcher as well as Government.

The study aims to investigate factors that determine dividend payout policy using 336 non-financial firm year observations covering the period 2005 to 2016 in Malaysia. We found a significant positive relationship between corporate board size, board members average age, board tenure and dividend payout policy. We also found a strong negative effect and statistically insignificant relationship of board diversity, board independence, CEO duality and dividend payout policy. Additional, financial leverage has a negative effect on dividend payout policy. It is also noticed that firms with diverse boards are more likely to pay dividends and tend to pay larger dividends than those with non-diverse boards. Our results suggest that board diversity has a significant impact on dividend payout policy. Impact of board diversity on dividend payout policy is particularly conspicuous for firms with potentially greater agency problems. Our findings are consistent with the argument that corporate board traits enhancement positively affect the dividend payout policy which is beneficial for shareholders. This study offers useful insights into the current global debate on board traits and its implications for firms. The dividend payout policy signals good news to investors. Corporate board traits and firm’s financial decision are the factors that disrupt the dividend decision.

The relationship between corporate board attributes and dividend payout is already established yet mediating role of leverage in not been examined in Malaysian market. Therefore, this study aims to examine the mediating effect of financial leverage on the relationship between corporate board attributes and the dividend pay-out policy. A sample of 203 non-financial firms listed on the BURSA Malaysia between 2005 and 2018 were analysed using SmartPLS 3.0. The findings show that there is a partial mediating effect of financial leverage on the relationship between board members age, board diversity and dividend pay-out policy. Financial leverage also mediates the relationship between number of women on board, CEO-duality and dividend pay-out policy. However, financial leverage doesn’t mediate the relationship between board size and dividend pay-out policy. This study offers insights to policy-makers to develop a better corporate governance as well as a guidance to firms in the construction and implementation of their corporate governance policies in relation to financial leverage. This study also shed light on the influence of efficient corporate board attributes on dividend pay-out policy and financial leverage for firm growth. This study concludes that corporate board attributes impact capital structure and thus, firms may change its payout policy.

As the number of clinical studies in Korea is increasing and qualitatively improving, interest in safety and welfare of research subjects, which are subjects of clinical research, is also increasing. Researchers who conduct research on humans should know and follow established laws and regulations in relation to clinical research, be aware of research ethics guidelines, and voluntarily comply with them. We would like to briefly inform the researchers that the IRB (Institutional Review Board) of Chosun University Hospital, which was enacted in June 2016 and revised in September 2018, will be able to fully understand the ‘Ethics Guideline for Research Related Persons in Chosun University Hospital (Version 2.0)’. Therefore, researchers need to understand and comply with domestic laws and regulations regarding clinical research, understand the roles and responsibilities of IRBs in protecting research subjects, and study research ethics guidelines.

바둑은 최상의 착점을 찾기 위해 컴퓨터가 완전탐색을 하여 모든 가능한 착점들을 탐색할 수 없는 가장 복잡한 보드게임이다. AlphaGo 이전에 모든 강력한 컴퓨터바둑 프로그램들은 게임트리 내 매우 큰 분기수와 국면평가에서의 어려움을 극복하기 위해 몬테카를로 트리탐색(Monte-Carlo Tree Search)을 사용해 왔다. 본 논문에서는 MCTS를 활용하여 초소형 바둑에서의 최상의 수순과 덤의 크기를 알고자 했다. 2줄바둑에서의 게임결과는 빅이 되었으며 덤의 크기는 0집, 반면에 3줄바둑에서는 흑이 항상 승리하고 덤의 크기는 9집이 되어야 함을 알아냈다.

이 연구는 선원의 개인적 특성(연령, 결혼여부, 국적)과 승선 경력(총승선기간, 현회사 승선기간, 선내 근무부서와 직급), 승선근무 보상(선원 복지후생만족도), 승선근무 내성(이가정성 및 이사회성) 그리고 외국인 선원과의 혼승 문제(이문화 수용 및 적응) 등의 승선근무 특성들에 따라 선원직업의식 수준에 어떠한 차이가 있는지를 분석하였다. 분석결과, 선원의 연령이 높을수록, 기혼집단보다 미혼집단에서, 국적은 필리핀, 인도네시아, 미얀마, 중국, 한국 순으로 직업의식 수준이 낮아지는 것으로 나타났다. 선내 직급에서는 외국인 선원의 직장급 부원의 직업의식이 원직급 부원과 수직급 부원 그리고 3항·기사 직급보다 높게 나타났다. 승선근무 특성에서는 복지후생만족도가 높아지면 선 원직업의식이 높아지며, 이가정성과 이사회성은 선원직업의식에 부(-)의 영향을 미치는 것으로 나타났다. 외국인 선원과의 혼승에 따른 이문화 수용성은 선원직업의식에 통계적으로 유의한 영향을 미치지 않지만, 이문화 적응성은 통계적으로 유의한 영향을 미치는 것으로 나타났다. 이 연구는 선원들이 자신의 직업에 대한 매력과 자부심 및 긍지를 가지고 승선근무를 지속할 수 있도록 하는 선원직업의식의 중요성을 강조 하고, 선원직업의식의 제고방안을 제시하는 데에 기여할 수 있을 것이다.

본 연구는 선상 의료교육의 도움정도가 선원 및 의료관리자에게 얼마나 효과적인가를 분석하였다. 그리고 효과성의 측정치로 의료교육을 받고나서 느끼게 되는 선원 및 의료관리자의 주관적 평가인 만족도를 선정하였다. 자료의 수집기간은 2015년 10월부터 2018년 3월까지 약 2년 6개월 동안이었고, 총 310부의 설문지를 수집하여 표본으로 하였다. 다만, 본 연구에서 회귀분석 시 설문문항의 추가 및 수정으로 인해 96개의 표본만으로 회귀분석을 실시하였다. 본 연구는 선상 의료교육의 도움 정도(외상교육의 도움정도, 간호관리 교육의 도움정도, 심폐소생술 교육의 도움정도, 전반적인 교육내용의 도움정도)와 통제변수(총 승선경력, 연령, 최종학력, 교육년도)가 만족도에 미치 는 영향을 밝히려고 했다. 분석결과는 다음과 같다. ⅰ) 외상교육의 도움정도가 높을수록 만족도는 높았다, ⅱ) 전반적인 교육내용의 도움 정도가 높을수록 만족도는 높았다, ⅲ) 심폐소생술 교육의 도움정도가 높을수록 만족도는 높았다. ⅳ) 총 승선경력이 많을수록 만족도가 낮았다, ⅴ) 최종학력이 높을수록 만족도는 높았다.

해양대학 학생들은 선원의 훈련, 자격증명 및 당직근무의 기준에 관한 기준협약(The International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, STCW 협약)에 의해 1년 항해실습을 하고 있다. 본 연구는 실습 교육 기간에 대한 효과와 더불어 어떤 교육 내용의 성취도가 향상되었는지, 또한 교육 과정 중 미진한 부분이 무엇인지를 실습 기간별로 분석하였다. 대상은 한국해양대학교 실습선에 승선한 3학년 학생들을 대상으로 하였다. 본 연구의 목적은 항해사 핵심 역량을 기반으로 한 실습 기간별 향상 정도를 조사 분석하여, 학교 실습선 실습 교육의 효율적인 교과 과정 개편에 기초 자료를 제시하는데 있다. 연구결과 기간에 따른 실습교육 효과는 1년간의 실습이 종료되는 시점에서 대부분의 실습생들이 핵심 역량 항목에서 향상 정도가 우수한 것으로 나타났지만 화물관리, 해양환경보호 등과 같은 일부 항목에서는 보통 수준으로 조사되어 실습 교육의 개선이 필요한 것으로 조사되었다.