의결권행사 자문기관(Proxy Advisor Firm)에 대한 국제적인 규제움직임과 시사점

안수현 한국경영법률학회 2013 經營法律 Vol.23 No.4

Proxy advisor for shareholder voting are a relatively recent phenomenon, globally and domestically. However, in recent days, ISS and other proxy advisors continue to draw significant attention from the corporations and financial regulators. Employed by an many institutional investors, proxy advisory firms provide analysis and voting recommendations on shareholder voting issues. More and more institutional investors have gradually outsourced their votes to those proxy advisors. However, the proxy advisors, by publishing their own governance principles and selling their voting recommendations, have become soft-law makers. This increasing influence of the proxy advisory activities has led corporations and financial regulators to question their legitimacy and the lack of oversight of those activities. One of the primary concerns raised by advocates of proxy advisor reform is the potential for conflict of interest that arises when a proxy advisor advises a company hot to structure management proposals to improve their chances of shareholder approval, while at the same time advising institutional investors how to vote their proxies for that proposal. Second concern is that proxy advisor firms wield significant influences over institutional investors. This is because institutional investors perceived that engaging a proxy advisor is the best way to comply with heir fiduciary duties to vote proxies for the benefit of their investors and to comply with disclosure obligations imposed by regulators. The precise extent to which proxy advisors influence shareholder votes remains open to debate, especially in local area. However, little doubt exists that proxy advisors have had a meaningful impact on some shareholder meeting issues, particularly those in connection with closely proxy contest. In light of this perceived influence, Part II of this Paper briefly provides an overview of the reason of rise of the proxy advisory industry, centered on the ISS and Lewis & Co. which dominates the proxy advisor market. Part III presents the current business model of both ISS and Lewis & Co. Part IV reviews the influence of proxy advisors on shareholders' voting rights and corporate governance. This section will also cover the various regulations and proposals emitted by foreign financial regulators to offer a better oversight of the proxy advisory industry. In light of previous research, Part V proposes a voluntary regulatory approach to the proxy advisors and to engage in self-regulation in considering the scarcity of competition in Korea.

감사와 내부통제

안수현 서울대학교 금융법센터 2020 BFL Vol.101 No.-

기업지배구조법제 형성에 관한 小考 - 최근의 의원발의 법률안을 소재로 검토 -

안수현 한국상사법학회 2015 商事法硏究 Vol.34 No.3

In the past, a number of reforming measures have been taken to improve the corporate governance framework and enhance shareholder’s rights especially in the area of the corporate law. In addition, recently, legislators proposed lots of proposal to reform the corporate governance, although they have noteworthy differences of measures to strengthen the accountability and motivate the incentives of directors to align with the interest of shareholders. In this paper I review of salient congressional themes about corporate governance that was suggested in the form of legislator’s proposals during recent 3 year-period. Those proposals focus on the shareholder power over directors and engaging in independent and robust monitoring, oversight, and policing of managers. This try can be evaluated to directly push shareholders and outside directors to police managers. However, this try has some limits. Because this aims and reflects the corporate governance mandate. On the other hand, the legislator’s incentive is not the same with shareholders’. Generally, the legislators hear the voice of their supporters and sometimes they want to make new practices that would make it harder for executives to deprive of the shareholders’s benefits. However, on the other hand, the legislator’s could hear the voice of executives and compromise how to reform and make new corporate governance practices. Accordingly the process and environment of corporate governance law making should be encouraged to take care and review by the public and shareholders more actively. On the other hand, from the perspective of technique of regulation, cost-effective regulation should be cultivated and need to be adopted. For example cost effective shareholder power should be supported and guaranteed. I should highlight the point that empirical studies show that although lots of reforming measures for corporate governance had been taken, the reality is not guarantee the good corporate governance at all. In this sense, to parallel with direct regulation and mandate, it would be effective to use indirect regulation technique. This form of regulation can be imposed by stock exchanges in their listing requirements, not by provisions of corporation law. Generally this kind of technique is called as ‘soft rule’. This kind of rule could create more stricter standards of independent directors and board committees(for examples audit, compensation, nominating committees) with the aiming of making directors more genuine monitors of and watchdogs over executives.

디지털 금융시대 금융법 현대화 : 해외사례 및 시사점

안수현,정대,이지은,노은영,강영기 한국금융연구원 2022 금융연구 working paper Vol.2022 No.20

은행소비자 보호의 개선과제 : 펀드판매를 중심으로

안수현 은행법학회 2008 은행법연구 Vol.1 No.1

최근 시중자금이 빠르게 펀드로 유입되고 있다. 2008년 2월 펀드수탁고로 집계된 금액이 321조 2,170억원으로1) 작년 12월 296.5조원에서 계속 늘어나고 있다.2) 이 같은 추세는 국민들의 금융자산운용 패턴이 직접투자에서 간접투자 로 전환되고 있음을 나타내고 있다. 그러나 한편으로 이러한 급성장의 이면에는 펀드의 불완전판매관행도 적지 않아 이에 따른 분쟁이 우려된다. 특히 펀드판매량에서 은행창구를 통한 펀드판매가 상당한 비중을 차지하고 있어3) 판매회사인 은행의 명성과 신뢰측면에서 볼 때 불완전판매관행에 대한 시급한 개선이 요구 된다. 이하에서는 이러한 문제점을 인식하고 현재 펀드판매 현황과 불완전판매로 인한 분쟁발생 및 펀드판매 규제현황과 분쟁해결추이를 개략적으로 살펴본 후 은행에서 펀드를 구입한 은행소비자의 보호방안을 입법적인 측면과 은행의 대응 방안측면에서 제안하기로 한다.

대학 연계전공에 대한 교육요구 우선순위 탐색

안수현,이상준,Ahn, Su-Hyun,Lee, Sang-Jun 한국실천공학교육학회 2021 실천공학교육논문지 Vol.13 No.3

대부분의 대학에서 4차산업혁명시대의 융합형 인재양성을 위해 연계전공, 융합전공 등 다학제적 접근을 통한 교육혁신을 시도하고 있다. 본 연구는 연계전공을 이수하는 학생들의 교육요구의 우선순위를 파악하여 연계전공의 효과적인 운영방안을 모색하는 것을 목적으로 한다. 이를 위해 연계전공에 참여한 학생들을 대상으로 포커스 그룹 인터뷰를 실시하여 연계전공 활성화를 위해 필요한 대학 차원의 지원을 탐색하였고, 온라인 조사를 통해 t-test, Borich의 요구도, The Locus for Focus Model을 적용하여 최종 우선순위를 도출하였다. 분석결과 '전담조직 설치 및 운영', '전용 강의실 및 실습실'이 최우선으로 고려해야 할 요인으로 도출되었고, '커리큘럼 특성화', '연계전공 장학금 지원', '연계전공 홍보', '전담조교 배정'이 차우선 고려요인으로 도출되었다. 이러한 연구결과를 바탕으로 대학 연계전공의 교육요구 우선순위에 대한 활성화 방안과 시사점을 제안하였다. Most universities are attempting educational innovation through multidisciplinary approaches, such as interdisciplinary programs and convergent majors, to nurture convergent talents in the era of the 4th Industrial Revolution. The purpose of this study is to identify the priorities of the educational needs of students who complete the interdisciplinary program and to find its effective operation plan. For this purpose, research was conducted to search for the university-level support required to vitalize the interdisciplinary program by doing focus group interviews with students who have participated in the interdisciplinary program. And the final priority was derived by applying the t-test, Borich's need assessment model, and The Locus for Focus Model, using online research. As a result of the analysis, 'formation and operation of dedicated organizations' and 'dedicated classrooms and practice rooms' were deduced as factors to be considered as a top priority, 'curriculum specialization,' 'interdisciplinary program scholarship support,' 'interdisciplinary program promotion,' and 'assignment of dedicated teaching assistants' were derived as secondary consideration factors. Based on these research results, a plan of vitalizing the educational needs for the interdisciplinary program at university and its implications were suggested.

기업의 실시간 비대면 교육서비스 품질의 수준과 학습전이의 관계에서 상사지원의 조절효과: 수도권 내 제조관련 대기업 구성원을 중심으로

안수현,조대연 고려대학교 HRD정책연구소 2023 휴먼웨어 연구 Vol.6 No.2

본 연구의 목적은 기업의 실시간 비대면 교육서비스 품질과 학습전이의 관계, 그리고 상사지원의 조절효과를 검증하는 것에 있다. 이를 위해 공정거래위원회 지정 2022년도 대기업 집단 상위 5개 기업에 종사하는 총 409명의 사무직 구성원을 대상으로 설문지를 배포하여 자료를 수집하였으며, 수집된 자료를 토대로 통계처리하여 다음과 같은 연구 결과를 도출하였다. 첫째, 기업의 실시간 비대면 교육서비스 품질은 학습전이에 긍정적인 영향을 미친다. 둘째, 상사지원은 비대면 교육서비스 품질과 학습전이의 관계를 촉진하는 조절효과가 있다. 이러한 연구 결과를 바탕으로 기업의 실시간 비대면 교육서비스 품질향상을 위한 기업 내 물리적 지원, HRD 담당자의 전문성 제고, 그리고 상사와 조직 구성원 간 상호작용을 촉진할 수 있는 실천공동체 도입 등 시사점을 제시하였다. The purpose of this study is to verify the relationship between the quality of real-time non-face-to-face education services of companies and learning transfer, and the moderating effect of supervisor support. To this end, questionnaires were distributed to a total of 409 office workers working in the top five conglomerates designated by the Fair Trade Commission in 2022 to collect data, and the following research results were derived by statistically processing based on the collected data. First, the quality of real-time non-face-to-face education services of companies has a positive effect on learning transfer. Second, supervisor support has a moderating effect that promotes the relationship between non-face-to-face educational service quality and learning transfer. Based on the results of these studies, implications were presented such as physical support in the company to improve the quality of real-time non-face-to-face education services, enhance the expertise of HRD personnel, and the introduction of a community of practice that can promote interaction between bosses and organizational members.

대학 비교과 활동의 예약부도 방지를 위한 운영방안 탐색

안수현,이상준 사단법인 인문사회과학기술융합학회 2019 예술인문사회융합멀티미디어논문지 Vol.9 No.10

The curriculum of the university can be divided into the regular curriculum and the extracurricular programs. As the importance of extracurricular activities has been highlighted recently, universities are operating various extracurricular programs along with the regular curriculum to develop core competencies of students. However, many issues have surfaced because of the no-show phenomenon that has been occurring not only in the service industry but also in the university extracurricular activities. The cause of the no-show must be identified and countermeasures must be enforced to prevent no-shows for the stable operation of extracurricular activities. Hence, this study explores the experience of no-shows in university extracurricular activities against students who attend a university with an active extracurricular program. Moreover, a focus group interview was carried out in order to understand the root causes and possible solutions to the problem. Based on these results, we expect the university to enhance the stability of extracurricular programs, and to systematically manage and utilize the efforts and achievements of students who participate in extracurricular activities. 대학의 교육과정은 정규 교육과정(교과)과 비정규 교육과정(비교과)으로 구분할 수 있다. 최근 비교과의 중요성이 부각되면서 대학에서는 학생들의 핵심역량을 기르기 위해 정규 교육과정과 함께 비교과 교육과정을 다양하게 운영하고 있다. 그러나 서비스 업종뿐만 아니라 대학 비교과 활동에서도 예약부도 현상이 발생하면서 여러 가지 문제가 대두되고 있다. 대학 비교과 활동의 안정적인 운영을 위해서는 예약부도의 원인에 대해 파악하고 이를 방지하기 위한 대안을 마련해야 한다. 이에 본 연구는 비교과 활동이 활발히 이루어지고 있는 대학의 재학생을 대상으로 비교과 활동의 예약부도 경험을 다양한 시각에서 탐색하였다. 그리고 이러한 심층적인 원인과 해결방안을 구체적으로 파악하고자 표적집단면접을 진행하였다. 연구 결과를 바탕으로 대학은 비교과 교육과정 운영의 내실을 키울 수 있고, 나아가 재학생들의 비교과 활동의 참여 노력과 성과를 체계적으로 관리 활용할 수 있을 것으로 기대한다.

비수도권대학 재학생의 중도이탈 예측모델링

안수현,이상준 세명대학교 인문사회과학연구소 2020 人文 社會科學硏究 Vol.28 No.2

The emerging problem these days in non-metropolitan universities is students discontinuing their studies. To solve the problem, universities must give attention to students about to drop out and reallocated the limited resources to them. In line with this, this research identified discontinuing students and continuing students based on admissions, academic records, and grade data of non-metropolitan universities in the recent decade. The candidate students for dropout were predicted by applying the machine learning technique. The research method adopted the cross-industry standard process (CRISP-DM) for data mining that included 1) Understanding business 2) Understanding data 3) Data preparation 4) Modeling 5) Evaluation 6) Development Stage. Based on the analysis, the categorical classification rate was approximately more than 97% showing very high accuracy for classification. The results of this research would predict the potential dropout students early and provide warning sign information to professors in-charge, to solve the fundamental cause of students discontinuing their studies. 현재 중요한 문제로 대두되고 있는 비수도권대학의 중도이탈 문제를 해결하기 위해서 대학은 학업중단 의도가 있는 학생에 초점을 맞추고 한정된 자원을 집중적으로 재배치해야 한다. 이에 본 연구는 비수도권에 소재한 대학의 최근 10년간 학생들의 입학, 학적, 성적 자료 등을 바탕으로 중도이탈자와 학업지속자로 구분하고, 머신러닝 기법을 통해 중도이탈 가능성이 있는 재학생들을 예측하였다. 연구방법은 데이터마이닝을 위한 업계간 표준 프로세스(CRISP-DM)를 수용하여 1) 비즈니스 이해 2) 데이터 이해 3) 데이터 준비 4) 모델링 5) 평가 6) 전개단계로 진행하였다. 분석 결과 범주별 분류율이 약 97% 이상을 보여 분류 정확도가 매우 높은 것으로 나타났다. 본 연구결과를 통해 잠재적 중도이탈학생을 조기 진단하고 지도교수들에게 조기경보 정보를 제공함으로써 재학생 중도이탈에 대한 근본적인 문제해결이 되기를 기대한다.

Standardized ileal digestible amino acid requirement for broiler

안수현 한국가금학회 2022 한국가금학회 정기총회 및 학술발표회 Vol.2022 No.11