Study 3. Corporate Governance and Social Performance

Kae H. Chung,Brian K. Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

This paper draws together two disparate research streams corporate governance and corporate social performance. Boards of directors are charged with representing both shareholders and broader stakeholder groups We propose that boards which actively fulfil their control responsibilities will be more likely to exhibit higher levels of corporate social performance No support for this hypothesis was found in sample of prominent U S firms.

Preface

Kae H,Chung,Brian K,Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

What is the fate of artificial urinary sphincters among men undergoing repetitive bladder cancer treatment?

S. Mitchell Heiner,Boyd R. Viers,Marcelino E. Rivera,Brian J. Linder,Daniel S. Elliott 대한비뇨의학회 2018 Investigative and Clinical Urology Vol.59 No.1

Purpose: Functional characteristics and durability of the artificial urinary sphincter (AUS) among patients who develop bladder cancer has been poorly characterized. We sought to evaluate AUS outcomes among patients subsequently diagnosed with bladder cancer, in order to describe device survivability when subject to diagnostic and therapeutic procedures such as cystoscopy, transurethral resection, and cystectomy. Materials and Methods: We retrospectively reviewed 1,803 male patients treated with AUS surgery at a single institution between 1983–2014. We describe AUS device outcomes among patients undergoing surveillance and treatment for bladder cancer. Results: Following AUS placement, 14 (0.8%) patients were subsequently diagnosed with and treated for bladder cancer and 4 patients with bladder cancer undergoing treatment and screening, subsequently received AUS placement. The median follow-up from device placement was 7.2 years (interquartile range [IQR], 2.8–11.5), and the median time from AUS placement to bladder cancer diagnosis was 6 (IQR, 0–9). There were a total of 8 primary and 1 secondary devices failures. Despite a median of 2 diagnostic cystoscopies (IQR, 1–6) and 0 bladder tumor resections (IQR, 0–0) per patient following device implantation, only 1 (5.6%) patient experienced an iatrogenic erosion related to urethral manipulation. Among those undergoing cystectomy (n=4), 1 device was left in situ without complication. Conclusions: Bladder cancer surveillance and treatment with an AUS device in place appears to confer minimal additional risk to AUS survival. Careful attention should be given to device deactivation and use of the smallest caliber instruments available to minimize the risk of iatrogenic urethral erosion.

Study 2. The Role of the Board in Setting CEO Base Salary and Bonus

Kae H,Chung,Brian K,Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

The board of directors has been identified as a central element in determining levels of CEO compensation Theory suggests that CEOs will attempt to circumvent board control in an effort to minimize personal risk. A randomly selected subset of 'Fortune 1000' firms was used to examine the relationship between compensation and board control. Board control was measured by CEO duality, the ratio of insiders, director compensation, director equity holdings, and board representation by ownership groups CEOs were expected to prefer a proportionately larger base salary, while boards were expected to prefer a grater emphasis on bonus. This hypothesis was supported

Study 1. Board Control and CEO Compensation

Kae H,Chung,Brian K,Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

The board of directors has been identified as a key internal control mechanism for setting CEO compensation. Theory suggests that CEOs will attempt to circumvent board control in an effort to maximize salary. This hypothesis was tested using a sample of 193 firms in a cross section of industries Corporate governance literature was reviewed to develop a multiple indicator measure of board control. Although, as hypothesized, CEO salaries were greater in firms with lower levels of control, CEO compensation was not significantly related to firm size or profitability.

Corporate Governance and Agency Costs : Results of Empirical Analyses-Executive Overview

Kae H. Chung,Brian K. Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

In order to develop normative guidelines, this study examined the antecedents and consequences of agency problems among U S. firms. Our analyses are based on samples of approximately 200 and 400 firms at two different points in time. We find that while board control is a major factor in the incidence of such agency problems, the board is generally more effective at addressing operational versus tactical or strategic control issues Additionally, we find that high levels of control may have a negative effect on other important board roles, such as resource acquisition or strategic decision-making

Study 4. CEO Duality and Firm Performance : A Contingency Model

Kae H. Chung,Brian K. Boyd,Mahnsoon Kwack 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998-01 No.1

Several studies have addressed the CEO duality--performance relationship, with inconsistent results This paper proposes that these inconsistencies can be resolved by integrating agency and stewardship perspectives on duality Using data from 192 firms in 12 industries, both the direction and magnitude of the duality--performance relationship was found to vary systematically across Dess and Beard's(1984) environmental dimensions These results provide partial support for both agency and stewardship perspectives.

Corporate Governance and Agency Costs:Results of Empirical Studies(기타) 63~129

Kae H. Chung,Brian K. Boyd 한국경제연구원 1998 한국경제연구원 연구보고서 Vol.1998 No.21

A systematic review of complications associated with nasal augmentation implants: expanded polytetrafluoroethylene (Gore-Tex) versus silicone

Han Le Thuc Hoang,Michael Januszyk,J,Brian Boyd 대한미용의학회 2017 대한미용의학회지 Vol.1 No.2

Background: Augmentation rhinoplasty has been one of the most common cosmetic procedures in Asian population. Silicone is the most widely used nasal augmentation material in Asia. However, in the past few decades, expanded polytetrafluoroethylene (ePTFE, Gore-tex ?? ) has become more popular as an alternative. Objective: In this study, complications associated with each implant aresystematically reviewed. Methods: Heuristic searches of MEDLINE, PubMed, and the Cochrane Library were performed using the keywords “ePTFE”, “Goretex”, “silicone”, and “rhinoplasty” to identify manuscripts for inclusion. The reference lists of these articles were systematically reviewed to further identify relevant articles. Only studies with detailed complication reports (i.e., infection, malposition) were considered. Random effects meta-analysis was performed to calculate the significance of differences in complication rates between silicone and ePTFE. Results: Eighteen studies encompassing a total of 7,759 patients were analyzed, 12 with ePTFE and 6 with silicone. Among studies in which sex was reported, 88.8% of the patients were female. 88.4% of cases in the silicone group were primary, as compared to 78% in the ePTFE group. Overall complications were 5.3% for the ePTFE group and 9.2% for silicone (p<0.05). Infection rate was similar between the two groups, 1.4% for ePTFE versus 1.9% for silicone group (p>0.05). Exposure rate was also similar, 0.7% for silicone and 1.2% for ePTFE (p>0.05). Malposition rates were significantly lower in ePTFE group compared to those receiving silicone implants (2.4% versus 6.8%, p<0.05). Conclusion: Although the gold standard graft material for rhinoplasty remains autologous tissue, implant based rhinoplasty is far more common in Asian populations. Both silicone and ePTFE have acceptable risk profiles when used in selective patients for dorsal augmentation. However, given the additional risks of capsular contracture and implant malposition associated with silicone implants, ePTFE should be considered as a first-line option for implant-based nasal augmentation.

CADASIL as a Useful Medical Model and Genetic Form of Vascular Depression

Park, Joon Hyuk,Jeon, Bong-Hee,Lee, Jung Seok,Newhouse, Paul A.,Taylor, Warren D.,Boyd, Brian D.,Kim, Ki Woong,Kim, Moon-Doo Lippincott Williams & Wilkins 2017 American Journal of Geriatric Psychiatry Vol. No.

<P>Objective: The main magnetic resonance imaging (MRI) findings of cerebral autosomal dominant arteriopathy with subcortical infarcts and leukoencephalopathy (CADASIL) are white matter hyperintensities (WMHs), lacunar infarctions, and cerebral microbleeds (CMBs). The purpose of this study was to investigate the effects of these three neuroimaging markers of CADASIL on depression to determine whether CADASIL is a useful medical model supporting the vascular depression hypothesis. Methods: Eighty-four subjects with CADASIL, aged 34-86 years, participated in this study. They underwent comprehensive clinical evaluation, including 3T MRI and genotyping of NOTCH3. The effects of WMH, lacunar infarctions, and CMBs were analyzed by path analyses and multivariate logistic regression analyses. Results: Patients with CADASIL exhibited frequencies of 17.9% for major depressive disorder (MDD) and 10.7% for minor depressive disorder. The frequency of MDD increased from 5.0% to 46.2% asWMH volume increased from first quartile to fourth quartile. WMH volume (OR: 1.03, 95% CI: 1.003-1.06) in patients with CADASIL was associated with the current depressive disorder. Path analyses demonstrated that only WMH volume was associated with the Korean version of the short form Geriatric Depression Scale score, Center for Epidemiologic Studies Depression Scale score, and 17-item Hamilton depression scale score. The effects of lacunar infarctions and CMBs on depression were not significant in path analyses and multivariate logistic regression analyses. Conclusions: This study demonstrates that WMHs are closely associated with depression in patients with CADASIL. This supports that CADASIL might be a useful medical model and genetic form of vascular depression.</P>