• Korean Journal of Social Welfare
• /
• v.44
• /
• pp.7-35
• /
• 2001

Little empirical study has been conducted concerning board function effectiveness and organizational performance in nonprofit nongovernmental human service organizations in Korea. Using the evaluations of 107 board members and 17 executive directors in Korean Community Chest and 16 regional community chests, this study attempted to examine the level of board function effectiveness and its relationship with organizational performance in these community chests. This study used board function scale developed by Holland and Jackson (1998) to measure board function effectiveness in the following 6 dimensions: contextual dimension: educational dimension: interpersonal dimension: analytical dimension: political dimension: and strategic dimension. This study showed that using 4 points scale, mean of overall board function effectiveness evaluated by board members is 2.62 and mean of overall board function effectiveness evaluated by executive directors is 2.73. That is, it showed that means of overall board function effectiveness are located in the middle point between negative evaluation and positive evaluation. On the other hand, using parametric correlation analysis method, it was found that in these community chests the association between board function effectiveness and organizational performance measured by fund-raising growth rate in $1999{\sim}2000\;and\;1998{\sim}2000$ is very weak and statistically nonsignificant. This study also revealed that using nonparametric correlation analysis method, the association between consensus level in evaluation by board members and executive directors about board function effectiveness, and organizational performance is still very weak and statistically nonsignificant. Finally, this study discussed the direction of future research in board function effectiveness and its relationship with organizational performance and the areas of board management that requires substantial efforts for promoting effectiveness of nonprofit human service organizations in Korea.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.1
• /
• pp.179-185
• /
• 2021

The aim of this study is to examine the impact of board of directors' activity on the audit committee's effectiveness score among manufactured listed companies on Saudi Stock Exchange (Tadawul) for the period 2015-2017. The final sample of this study consists of 195 firm-year observations that represent manufactured companies listed on Saudi Stock Exchange (Tadawul) for the years 2015-2017. The data of this study in terms of board of directors' meetings, audit committee size and meetings, firm leverage, firm performance, and firm age were hand-collected from the annual reports of the considered companies. The Pooled OLS regression's result indicate that audit committee's effectiveness score is influenced by the board of directors' activity. This result gives support to the agency theory prediction. This result is also consistent with the complementary function of corporate governance mechanisms in which board of directors' activity complements the function of audit committee's effectiveness score. The result of this study should be useful for manufacturing companies, Saudi Stock Exchange, auditors, and regulators which relates to the association between board of directors' activity and audit committee's effectiveness score. This study provides a new empirical evidence on the impact of board activity on the audit committee's effectiveness score in an interesting context which is Saudi Arabia.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.8
• /
• pp.289-296
• /
• 2020

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.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.9
• /
• pp.283-291
• /
• 2020

Although the corporate governance plays a crucial role in protecting shareholder wealth, the effect of corporate governance on cost of debt is unclear. On one hand, the corporate governance reduces asymmetric information between corporate and external investor including debtholder leading to a decreasing in cost of debt financing. On the other hand, bondholders require higher rate of return for an improvement corporate governance. Hence, this study aims to investigate the relationship between the mechanism to improve corporate governance namely board effectiveness and the cost of debt in an emerging market. As we aim to explore the relationship between cost of debt and board effectiveness, we select corporation in Thailand as our sample because the businesses in Thailand are major debt-financing. Hence, our sample include listed firm in Stock Exchange of Thailand between 2007 and 2016. Our main findings support the sub-optimal investment hypothesis in that improved board effectiveness is associated with higher cost of borrowing. In addition, we find that the number of board member-board size, the number of board meeting, and the percentage of non-executive on audit committee play are positively associated with the cost of debt financing. Furthermore, we perform two-stage-least square (2SLS) to ensure that our results are far from endogeneity issue.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.317-328
• /
• 2020

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.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.223-230
• /
• 2021

The concept of Shariah-based internal audit has received increasing attention from researchers in recent times especially since Islamic financial institutions have been developing in several Asian countries like Bangladesh. To avoid financial irregularities and to maintain Shariah-based financial transactions, an effective Shariah-based internal audit system is extremely important for Islamic financial institutions such as Islamic banks. Hence, the objective of this study is to determine the factors that influence the effectiveness of the Shariah-based audit system. Study data has been gathered from Shariah auditors, members of the Shariah board and audit committee of six private Islamic banks in Dhaka, Bangladesh. A total of 210 survey questionnaires were sent and finally 136 responses were retained, indicating a final sample size of n=136, with a survey feedback rate of 65%. The study adopted a quantitative measure and collected only primary data, followed by convenience sampling. SPSS has been used to run necessary statistical interpretation. Results reveal that auditor's work autonomy, level of competency, and work performance significantly impact the Shariah-based internal audit effectiveness. The study findings can be adopted as guidelines to improve the overall effectiveness of the Shariah-based internal audit system in Islamic financial institutions.

• KOREAN JOURNAL OF PACKAGING SCIENCE & TECHNOLOGY
• /
• v.10 no.1
• /
• pp.27-36
• /
• 2004

Software summarized packaging technology related is needed for low cost and high efficiency in production and packaging design of corrugated board, and in development of these softwares, distribution and packaging environment of one's country must be reflected, well. In domestic occasion, software related to corrugated board packaging dont's exist nearly, and in many industrial fields, the more higher role and importance of packaging in various industrial field is, the more higher necessity of that is. In this study, on the base of preceeding studies (Park, 2001; 2003; 2003), software to optimize board combination that is most importance and sensitivity in composition of cost elements in production and packaging design of corrugated board was developed. This software was composed of input module, output module, database and management module, and calculation module, and efficiency of this software was analyzed on the both sides of sensitivity in design result and effectiveness in a case analyse. In the inward design results having same strength, board combination balance, bursting strength, box weight, and cost were greatly different. Therefore, optimum inward design according to user's design specifications is possible, and in a case analysis for actual products, obtained the more profitable results than before design.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.11
• /
• pp.235-242
• /
• 2021

The paper aims to examine the relationship between the Board of Directors' characteristics and the timeliness of financial statements of listed firms in Vietnam. Accordingly, research data was collected from the FiinPro Platform database system, which included financial statements of 548 organizations listed on the Hochiminh Stock Exchange and the Hanoi Stock Exchange from 2013 to 2018. The paper employs the OLS regression method with a strong standard error method and FGLS to handle the problem of variable variance and autocorrelation. The research results show that the following three factors have significant impacts on the timeliness of financial statements: the duality of Chairman, the age of Chairman, and the change of members of the Board of Directors. The findings suggest that the duality of the Chairman of the Board of Directors will lead to a decrease in control effectiveness, adversely affecting the timeliness of the financial statements. In addition, the change of members in the Board of Directors will lead to a positive change in the timely provision of information. The age of the Chairman of the Board of Directors also positively impacts the timeliness of financial statements.

• Proceedings of the KIPE Conference
• /
• 2004.07b
• /
• pp.851-854
• /
• 2004

This paper studies Optical Fiber(OF) - LED illuminated display board system for energy saving. The OF-LED illuminated display board system has PV modules, batteries, and charge & discharge system, and dynamic full color display controller. Both maximum power point tracker (MPPT) and constant current & constant current controls (CCVC) are used In govern the charging system. It can be improve the charging efficiency of battery. The objective of this thesis paper is to build advertisement lighting system with OF-LED in to charge a 12-volts lead acid battery by using a field wired PV array. We saved the maintenance cost and developed of advertisement effectiveness. To verify the proposed OF-LED illuminated display board system for energy saving, the detail simulation and experiment results indicate that operating characteristics are verified by experiment with a laboratory prototype in this paper.

• The Transactions of The Korean Institute of Electrical Engineers
• /
• v.58 no.10
• /
• pp.1962-1967
• /
• 2009

This paper deals with a design of a platform to simulate PRT vehicle operational control algorithms using on-board embedded process board. The configuration of the platform is composed of the central control module, the station control module, man-machine interface and monitoring module. Since PRT system needs inherently very reliable vehicle operational control algorithm in order to avoid the impact between vehicles, it is very important to construct a simulation platform to test a designed vehicle operational control algorithm during the development process For the test of the proposed platform a path of the each moving vehicle is predefined in the central control system before the dispatch order is given to the vehicle. The simulation results show the effectiveness of the proposed simulation platform for test and evaluation of the PRT operational control algorithms.