의결권 행사와 기업지배구조와의 관련성에 대한 연구: 국민연금이 지분을 보유한 기업을 중심으로

홍수희 인문사회 21 2018 인문사회 21 Vol.9 No.6

This study would analyze if the total number of voting rights and the ratio of opposing voting rights exercised at the general meeting of stockholders improved the governance of investment enterprises and played a role in supervising the management with enterprises of which over 5% shares were held by the National Pension as public pension funds. As a result, the more the total number of voting rights by the enterprise’s active exercise of voting rights, the higher the score of the corporate governance of the following year became. The analysis was conducted only for companies that can not target all companies due to the limitation of data collection. However, the higher the ratio of opposing voting rights, the lower the corporate governance became. In addition, according to the result of an analysis of the impact of the exercise of voting rights on corporate values, stockholders’ exercise of voting rights was not related to corporate values. Thus, it is suggested that more voting rights by the stockholders’ active action could play a role in supervising the management to improve corporate governance. With the introduction of stewardship code, institutional investors’ exercise of voting rights could affect the improvement of corporate governance, and accordingly, it would be necessary for institutional investors to fulfill their responsibilities as fiduciaries and exercise their rights, faithfully. 본 논문은 공적 연기금으로서의 국민연금이 5% 이상 지분을 보유한 기업들을 대상으로 주주총회에서의 전체 의결권 건수 및 반대 의결권의 비율이 투자기업의 지배구조를 개선하고 경영감시의 역할을 수행하였는지 분석해보고자 하였다. 연구 결과, 적극적으로 의결권을 행사하여 전체 의결권 건수가 많을수록 다음 연도의 기업지배구조 점수는 높은 것으로 나타났다. 반대의결권의 비율이 높은 경우는 기업지배구조 점수가 낮은 것으로 나타났다. 추가적으로, 의결권행사가 기업가치에 미치는 영향을 분석한 결과에 따르면, 주주의 의결권행사는 기업가치와 관련성이 없는 것으로 나타났다. 자료수집의 한계로 모든 기업들을 살펴볼 수 없었다는 것은 본 연구의 한계점이나, 주주의 적극적 행동으로 의결권의 건수가 많다는 것이 경영감시의 역할을 수행하여 기업의 지배구조를 향상시킬수 있으며, 스튜어드십 코드 도입으로 인한 기관투자자들의 의결권행사가 기업의 지배구조개선에 영향을 미칠 수 있으며 따라서 수탁자로서의 책임 및 권리행사를 충실히 수행할 필요가 있음을 시사한다.

스튜어드십 코드 도입 전·후 경영성과 관련성에 관한 연구

홍수희 차세대컨버전스정보서비스학회 2022 차세대컨버전스정보서비스기술논문지 Vol.11 No.6

This study considered that the possibility of institutional investors exercising their shareholders rights increased with the introduction of the stewardship code, and accordingly, that corporations made efforts to improve non-financial performance on their own, and whether these efforts were reflected in financial performance. The purpose of this study was to empirically analyze whether there was an improvement in non-financial performance after the introduction of the stewardship code, and whether there was a difference in financial performance by period before and after introduction of the stewardship code. As a result of the study, since the introduction of the stewardship code, the ESG integrated rating, corporate governance rating(G), and social responsibility management rating(S), of the Korea Corporate Governance Service have improved than before, and there is no difference in environment management rating(E). In addition, in terms of financial performance, it was examined whether there was a difference between the stock price return and Tobin's Q for each of the two periods. but no significant difference was found between the two periods. Rather than examining the relationship between non-financial and financial performance, this study compared and analyzed whether the introductions of the stewardship code affect the company's performance(non-financial, financial). These studies will be able to suggest implications for the effectiveness of the introduction of the stewardship codes and practical measures to institutional investors and corporations. 본 연구는 스튜어드십 코드 도입으로 기관투자자들의 주주권 행사 가능성이 높아지게 되면서, 기업들 스스로 비재무적 성과를 높이기 위한 노력이 이루어지고, 이러한 노력이 재무적 성과에도 반영되었는지 살펴보고자 하였다. 스튜어드십 코드 도입 이후 비재무적 성과의 향상이 있었는지, 또 재무적 성과는 스튜어드십 코드 도입 전·후 기간별 차이가 있었는지 실증분석하였다. 연구결과, 스튜어드십 코드 도입이후 한국기업지배구조원의 ESG 통합등급 및 기업지배구조등급(G), 사회책임경영등급(S)은 이전보다 개선되는 효과가 있는 것으로 나타났고, 환경경영등급(E)은 전·후 차이가 없는 것으로 나타났다. 또한, 재무적인 성과측면에서 주가수익률과 토빈큐가 두 기간별로 차이가 있는지 살펴보았는데, 두 기간간의 유의미한 차이가 발견되지는 않았다. 본 연구는 기업의 비재무적 성과와 재무적 성과간의 관련성을 살펴보기보다는, 스튜어드십 코드의 도입이 기업의 경영성과(비재무적, 재무적)에 영향을 미쳤는지를 기간별로 비교하여 분석하였다. 이러한 연구는 기관투자자 및 기업들에게 스튜어드십 코드 도입의 실효성 및 실질적 추진방안에 대한 시사점을 제시할 수 있을 것이다.

Immune gene expression following LPS exposure in the gill of rainbow trout, Oncorhynchus mykiss

홍수희 한국어병학회 2005 한국어병학회지 Vol.18 No.3

In the present study, immune gene expression of rainbow trout, Oncorhynchus mykiss, against bacterial endotoxin (LPS) was studied in vivo. The expression of proinflammatory cytokine genes (IL-1and TNF-) and IFN-related genes (IRF-1, Mx-3) at gill was assessed by RT-PCR at different time point of day1 and day 3 post-injection. It was shown that the proinflammatory cytokine gene expression at gill was induced 1 day after LPS injection but the expression was not sustained until day3. Meanwhile upregulated expression of IFN-related genes was found to be only at day3 post injection, indicating indirect effect of LPS on these genes.

로컬 관광객의 소비성향이 관광동기와 관광만족에 미치는 영향

홍수희,이정원 한국호텔리조트학회 2023 호텔리조트연구 Vol.22 No.6

This study aims to investigate the effect of local tourists’ consumption propensity on tourism motivation and satisfaction. This study collected data from tourists who had visited tourist attractions in Gyeonggi-do and conducted a survey on 208 people. The survey period was conducted for approximately 3 weeks from early July 2022, and analysis of the collected data was conducted using SPSS. The results of this study are as follows. First, tourists' consumption propensity was derived from economic consumption propensity, hedonic consumption propensity, fashion-seeking consumption propensity, conspicuous consumption propensity, planned consumption propensity, and other-conscious consumption propensity. Second, tourists' consumption propensity was found to have a significant effect on tourism motivation. Tourists' consumption propensity was found to have a significant effect on intellectual motivation and social motivation among tourism motivation factors. Third, tourists' consumption propensity was found to have a significant effect on tourism satisfaction. Fourth, tourists' tourism motivation was found to have a significant effect on tourism satisfaction.

지능형 산불재난방지 플랫폼 도입 의도에영향을 미치는 요인에 관한 연구

홍수희,김도연,조훈,한경석 한국IT정책경영학회 2021 한국IT정책경영학회 논문지 Vol.13 No.2

The risk of large forest fires has increased recently due to climate change and increased forest resources. To solve these problems, the forest disaster prevention platform has the advantage of being very accessible in terms of meeting individual needs immediately. From this point of view, it is necessary to present the direction of writing Master Plan for the establishment of an intelligent forest fire disaster prevention platform. For this purpose, empirical analysis was conducted for this study. Factors that positively affect the intention of using intelligent forest fire disaster prevention platform were perceived value, performance expectation of IFFDPP(Intelligent Forest Fire Disaster Prevention Platform) system, effort expectation, and promotion of disaster prevention system regulatory action.

Environmental Violations and Financial Performance of Firms in Korea: Empirical Evidence

홍수희,류현욱 사단법인 미래융합기술연구학회 2019 아시아태평양융합연구교류논문지 Vol.5 No.4

This paper conducted an empirical analysis on the relationship between financial performance and the information of enterprise value of firms violating environmental regulations. As a result of the test, the influence of the financial data of the firms on enterprise value is not statistically significant. However, beta and volatility, the control variable for stock returns and operating margin ratio shows significant positive effect on stock returns. The industry-adjusted Tobin’s Q, a long-term enterprise value, has a significant effect on the number of environment violation, debt-coverage and ROA ratios. The test result for the number of environment violation shows low explanation power towards the stock returns (a short-term enterprise value), but is significantly correlated to the industry-adjusted Tobin’s Q.

[이달의 詩] 부치지 못한 편지

홍수희 샘터사 2017 월간 샘터 Vol.574 No.-

어류질병 방역 대책과 면역 증강

홍수희 한국수산과학회 양식분과 2003 韓國養殖 Vol.15 No.1

작업 자동화 소프트웨어 API Essential SPECS

홍수희,김재성,설수진,한경석 한국IT정책경영학회 2020 한국IT정책경영학회 논문지 Vol.12 No.3

Integration of services is expanding with the growth of automation software and related industries. Related studies are being actively conducted in academia, and the term is also defined as the Trigger-Action Framework, which is a system that takes over the function of the platform beyond simple software. Supported mobile applications, which were limited to overseas services, are also entering the domestic market and providing infinite convenience to the users of the apps, leading to activation of customers. In this paper, We study the APIs participating in the Trigger-Action Framework and present the appropriate development standard for the service to enhance the usability and suggest the direction of the integrated web service API.

Comparing the Performance of Environment-related Indices in Korea : Focusing on KRX SRI Eco and KRX Green

홍수희 한국경영컨설팅학회 2016 경영컨설팅연구 Vol.16 No.2

This study intends to compare the financial performance of the KRX SRI Eco and KRX Green, the environment-related indices in Korea, with that of the KOSPI 200, the market index. The results of the study may be summed up as follows: First, there were no significant differences among the financial performances of the three indices. This finding has induced the author to dismiss the hypothesis proposing that the environment-related indices have financial performance higher than the market average. Second, among the environment-related indices, the KRX SRI Eco had performance higher than the market-average KOSPI 200 for the study term 2011 to 2014. Meanwhile, in each year, they showed performances similar to the market average. Third, among the environment-related indices, the KRX Green showed financial performances remarkably lower than the market average. This finding was detrimental so that the author had to give up the hypothesis. This result may reflect the reality in Korea that despite the growing interest in the corporate responsibility in environmental affairs, those environment-conscious companies are not actually drawing positive evaluation from the investors. Nevertheless, in light of the significance of corporate social responsibility (CSR), those companies embracing CSR are expected to upgrade their non-financial performance and company value in a long term. As much as CSR has been introduced to Korea only recently, its relationship with the corporate performance may have a turning point in the future.