Comparison and Effect of Leadership in Securities

This paper explores the impact of leadership on securities in Seoul, Korea. It examines the relationship between leadership and securities, and how transformational leadership affects securities. The research aims to answer questions on the impact of leadership on securities and organizational performance.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Comparison and effect of leadership in securities companies in Seoul, Korea
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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Abstract
This paper has been constructed in order to have a brief idea about how leadership has been
essential for the development of the securities of a company. The comparison and effect of
leadership on the performance of the securities would be understood with the help of which
better performance can be understood. A background has been constructed with the help of
which better understanding about leadership would be understood and the aspects that are related
to development of leadership would be understood in a better way. The research aims and
objectives of the study has been constructed in order to have a brief idea about the aspects that
would be covered in this research. The paper would therefore look to answer the objectives of
the paper. The literature review will explain the aspects that are associated to leadership and
would even highlight the aspects that have led to the development and the restrictions in the
performance of the securities. The methodology would determine the process of data collection
with the help of which evaluation of the data is possible in order to attain the desired result in
accordance to the topic. The analysis that has been done with the help of the data that has been
collected has been able to explain the fact that leadership has significant amount of impact on the
performance of the securities companies in Seoul, Korea and it is seen that effective leadership
would develop the performance and the profitability of the companies and vice versa.
Key Words
Leadership, Transactional Leadership, Transformational Leadership, Performance, Faith,
Communication, Profit, Securities, Rewards and Recognition, Motivation, Employees

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Table of Contents
Chapter 1: Introduction....................................................................................................................5
1.1 Background of the Study.......................................................................................................5
1.2 Problem Statement.................................................................................................................7
1.3 Research Aims and Objectives..............................................................................................7
1.4 Research Question.................................................................................................................8
1.5 Construction of the topic of the Investigation.......................................................................8
1.6 Scope of the Study.................................................................................................................9
1.7 Purpose of the research..........................................................................................................9
1.8 Feasibility of the research....................................................................................................10
Chapter 2: Literature Review.........................................................................................................11
2.1 Introduction..........................................................................................................................11
2.2 Leadership and its impact on organizational performance..................................................11
2.3 Transformational leadership................................................................................................14
2.4 The impact of the employee performance of the securities of a company on the overall
organizational performance.......................................................................................................15
2.5 Process of Transformation...................................................................................................17
2.6 Leadership and impact on shares.........................................................................................18
Chapter 3: Research Methodology................................................................................................21

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
3.1 Introduction..........................................................................................................................21
3.2 Research Philosophy............................................................................................................21
3.3 Research Approach..............................................................................................................22
3.4 Research Design..................................................................................................................22
3.5 Kind of Data........................................................................................................................23
3.6 Sample and Sample Size......................................................................................................23
3.7 Process of data collection....................................................................................................24
3.8 Data Analysis Plan...............................................................................................................25
3.9 Ethical Consideration...........................................................................................................25
Chapter 4: Data Analysis...............................................................................................................26
4.1 Introduction..........................................................................................................................26
4.2 Frequency Analysis.............................................................................................................26
4.2.1 Demographics...............................................................................................................26
4.2.2 Response Table.............................................................................................................27
4.3 Correlation coefficient.........................................................................................................32
4.4 Reliability of the data set:......................................................................................................0
4.5 Kendall’s W...........................................................................................................................1
4.6 Kruskal Wallis Test...............................................................................................................3
Chapter 5: Discussion......................................................................................................................0
5.1 Quantitative findings in Brief:...............................................................................................3

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
5.2 Interview Analysis.................................................................................................................3
Chapter 6: Conclusion, Recommendation and Future Work...........................................................6
6.1 Conclusion.............................................................................................................................6
6.2 Recommendation...................................................................................................................7
6.3 Scope of future work.............................................................................................................8
Reference List..................................................................................................................................9
Bibliography..................................................................................................................................16
Appendix........................................................................................................................................19
Questionnaire.............................................................................................................................19
Interview Questions...................................................................................................................23

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Chapter 1: Introduction
1.1 Background of the Study
In the current changing and complex business life, the environment and the scenario for
the organizations have been changing and it is seen that the companies in the current time period
have been looking forward to become competitive in order to stay in line with the current
scenario. The companies that have not been looking forward to stay competitive may lose their
position against their competitors and thereafter may get eliminated from the market. The
demand that is existent among the present customers have been altering at a fast pace and the
organizations have been looking forward to respond to the same and undertake changes in their
plans and policies by manufacturing and providing and new and innovative goods and services
and thereby maintain their competitive edge (Ayadi et al. 2015). The fast technological
advancements have assisted in this current time period is even having an impact on the pace at
which the transformations that is taking place globally. The speed of change is increasing at a
fast rate and in order for the companies to be successful in the current economy they are in need
of keeping up their pace with the changes that are taking place in the global economy.
It is seen that the competition has been sustainably increasing the methods and the
theories, which will be helpful in the development of a better present and future. There is a need
for new theories and one of the key issues have been organising the business, new models and
structures and thereby improving the developmental process of a business (Huang et al. 2016).
The development of a business is dependent on the kind of leadership that is given by the senior
management of a business and therefore the effect leadership determines the development of a
business.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
These changes are in need of a new ways of supervising the people. A style of leadership,
which might assist in acclimatizing all these transformations, is with the help of the
transformational leadership, which would be helpful to the organizations to surpass the new
issues and the challenges, discover new opportunities and thereby discover the strategies with the
help of which the company would become profitable and develop while incorporating the new
changes. Jacquart and Antonakis (2015) addressed that transformational leader is known to be
the one who brings forth positive and key transformations in a company by moving the
individuals over their self-interest and thereby moving towards an effective society and
organizations as well. The leaders who are looking forward to the transformational changes look
to change the organizational culture by encouraging a sense of purpose and mission about the
significance of the work of the individuals and thereby stimulating innovative ways of thinking
and the process of solving the problems. Transformational leaders motivate the individuals
within a company to work in a better way and strive for the increased level of performance.
According to the research that is undertaken by Lyria, Namusonge and Karanja (2017),
not many individuals who have forecasted two decades that there are certain companies who
have been able to transform themselves from a low expensed producer to one of the biggest
international companies. It is seen that one of the significant factors have been the leadership
style and the attributes that have been used for the purpose of development of the business.
In the current economic scenario, the extent of competition has increased all over the
globe. The process of decision making is undertaken by the management of the companies and
therefore leadership plays an essential part. There are various kinds of leadership that can be
undertaken and it is seen that it is the discretion of the management to undertake the decision in
accordance to the development of the business (Sojo et al. 2016). The development of a business

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
is understood with the help of the prices of the shares of the companies. The fluctuations in the
price of the shares is due to various factors and one of the key factors has been the leadership
skills. This paper has therefore been constructed in order to have an understanding of the impact
of the leadership skills on the securities of a company and how it has been helpful in the
development of the companies.
1.2 Problem Statement
The statement of the problem has been constructed has been the reason that has led to the
development of the current paper. It is seen that leadership is leads to the development of a
company and accordingly the plans and the policies that are are constructed is helpful in the
development of the business as a whole. Foster (2017) explained that most of the companies
issue shares with the help of which they are able to gather money from the market especially
from the public. The impact of leadership in the organizational performance is seen with the
efficiency level of the employees as well as the operational performance.
1.3 Research Aims and Objectives
The aim and the objective of the research tries to assess the areas and the aspects in
accordance to which the research would be undertaken and effective results can be attained. The
aim and objective of the research has been given as follows:
 Assess the impact of leadership on the securities of a company
 Assess the impact of securities on the organizational performance
 Examination of how the transformational leadership characters of the leaders have an
impact on securities of a company

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
1.4 Research Question
The research questions are constructed in order to have answer the questions that need to
be answered in order to conclude the research in an effective manner. The research questions that
have been constructed are given as follows:
Q1. What is the impact of leadership on the performance of the securities of a company?
Q2. What is the impact of performance of securities of a company on the overall organizational
performance?
Q3. How does transformational leadership characteristic of a leader have an impact on the
securities of a company?
1.5 Construction of the topic of the Investigation
There are several topics that are available to the researcher in order to undertake research
but it is seen that the current topic is an interesting and an attractive one simply because of the
fact that leadership has an essential role to play in the development of a company and the
performance of the shares of the company determines the profit and the performance of the
company in the market (Shi, Zhang and Hoskisson 2017). The impact and the decisions that are
undertaken by the senior management in accordance to the securities of a firm becomes vital and
therefore an understanding of their relationship becomes essential in order to understand how
these two aspects are inter-related to each other. Therefore, this topic has been taken into
consideration in order to understand the impact and the relationship among each other.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
1.6 Scope of the Study
The scope of the study concentrates on developing a paper that would undertake a
comparison and thereby understand the impact of leadership on the securities of an organization.
In order to collect data based on this topic, it is essential to understand the aspects and the areas
that are closely associated to this topic and thereby collect data on the same in order to attain the
result that is desired (Keune, Mayhew and Schmidt 2015).
The leader of the research is the one who would undertake the responsibility to take the
research forward and therefore collect all the precise and authentic data that would be useful for
the understanding of the impact of leadership over the securities. The data in relation to this topic
would be collected with the help of primary and secondary data so that all the areas and bases
would be covered in order to have an understanding of the topic. It is due to this fact that data
would be collected with the help of telephonic interview from 5 securities company managers
who have experience of 10 years in the company has an experience of over 3 years as manager.
On the other hand, responses from the employees would even be gathered and therefore
employee survey questionnaire will be forwarded to 75 employees who are working in the
securities company with the help of which the desired outcome of the paper can be ascertained.
1.7 Purpose of the research
The main intention of the current research has been to create an understanding of the
impact of leadership on the securities of a company. There have been limited researches on the
current topic and therefore understanding of the relationship is helpful in the development of a
company with the help of which their relationship can be understood. With the advent of time,
there have been changes in the leadership styles as well as the perception of the leaders and
therefore their attitude and their ideology towards the stocks and the securities of the company

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
may change (Jiao et al. 2017). It is due to this fact that better and comprehensive understanding
of the two relationships can be known with the help of which a better result can be ascertained.
1.8 Feasibility of the research
The current research in accordance to this topic has extensive feasibility mainly due to
the fact that leadership is one of the essential element that determines the style and the efficiency
level of the performance of a company. Securities is one of the key principles that needs to be
taken into consideration with the help of which the performance of the stock in the market and
the extent of profit that the company is making from the market can be understood. It is seen that
the change in the leader of a company has an impact on the stock prices as well and therefore
assessment of the same is fundamental in order to grow knowledge on the relationship among
both of them (Boo, Ng and Shankar 2016). According to the relationship steps and strategies
need to be constructed by the management in order to safeguard the stock prices in case there is a
change in a leader of a company.

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Chapter 2: Literature Review
2.1 Introduction
The comparison and the effect of leadership in securities of a company is a key aspect
that is taken into consideration in order to have an understanding of how they are inter-related to
each other and how the companies have been planning their decisions based on the same in order
to enhance the operational performance. The literature in accordance to this topic would
therefore highlight certain areas and aspects and factors that are related to these variables and
thereafter a better understanding of the topic can be achievable (Love, Lim and Bednar 2017).
This chapter would even examine the aspects and the components that have been highlighted by
other researchers on this topic so that construction of this research is even possible.
2.2 Leadership and its impact on organizational performance
According to Anderson, Potočnik and Zhou (2014), leadership is the expertise and the
skill that is required in order to encourage the confidence and create assistance among the
individuals who are required to attain the goals of an organization. Efficient level of leadership is
associated with the inspiration, transformation, influence and motivation within a company.
According to Stock, Totzauer and Zacharias (2014), leadership is known to be the
process with the help of which an individual has an influence on the others in order to attain any
kind of objective and thereby directs a company in way that would make it more coherent and
cohesive. Leadership is known to be the procedure with the help of which a person has an
influence on a group of persons to attain a general goal and aim.
Yahaya and Ebrahim (2016) recommend that leadership is known to be the capability to
direct others whether they are client or colleagues in order to reach an outcome that is desired.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The leaders and the individuals who have precise knowledge and idea of what they want to attain
and the reason of attainment. Leaders are known to be the source of assurance, confidence and
guidance during the time of complexity of the procedures and systems, financial crisis and other
scenarios (Appelbaum et al. 2017).
According to Stock and McFadden (2017), the position as a manager and other senior
management positions have the power to attain specific tasks and aims in the company.
However, this authority does not make an individual a leader but merely creates a boss.
Leadership is different from that aspect as it is seen that the leaders are looking to make their
followers attain the goals that are desired by them rather than empowering over them. Leithwood
and Azah (2016) explained the fact that a prominent theory of leadership explains the fact that
the managers must have knowledge of how to lead as well as supervise. If the leaders are unable
to manage as well as lead, it could lead to a disaster for the company as well as may lead to the
extinction of the company from the market.
According to Dinh et al. (2014), for any company to be successful, it is essential that the
companies, it is seen that leadership is required at every extent within a company. According to
Chang, Bai and Li (2015) a very recent evaluation recommends that for enhanced business
outcomes, it becomes the role of the higher-level management to take and initiate the risks that
would be helpful in driving the company in their desired direction. The changes need to take
place from the part of the leaders at the lowest levels rather than depending only on the top-level
management. This even suggests that the top-level management needs to be a true team
constructor and very selective regarding their team. A team leader needs to construct and
develop trust and loyalty within their team by assisting their decisions and plans in a successfully
with the help of suitable guidance (Kleinnijenhuis et al. 2015).

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On the other organizational performance is known to be the capability of a company to
attain the objectives of a company that may be inclusive of the rise in the extent of profit,
product quality, effective financial outcome, extensive level of market share etc. Organizational
performance can only be considered to view how the company is performing with respect to the
extent of profit, product quality and the market share in accordance to the other companies who
are performing in the same industry (Simons et al. 2015). In the same way, it is a reflection of
productivity of the employees of a company that is assessed with respect to the profit, revenue,
development and the growth of the companies.
According to Van Tulder et al. (2016), various studies and research have been undertaken
in order to explain the relationship among the organizational performance and leadership. There
are have been several researches which have disclosed a negative relationship among who is in
charge and the efficiency level with the help of several kinds of indicators. However, most of the
researches have addressed the fact transformations in the extent of leadership leads to the
changes in the performance of the company as well. It can therefore be said that leadership style
and company performance are directly related to each other.
The aspects that have been discussed by various researches in accordance to the topic
have led to various insights with the help of which critical opinion can be provided. The articles
that have been discussed has led to the development of the idea that all these aspects can be
agreed upon as it is seen that even though there are certain articles who have shown a negative
relationship but most of the articles have explained the fact that there is a positive leadership
among leadership and the impact of securities and the extent of leadership of the management
would determine the impact on the securities. Hence, agreement is created with the above
articles that have been discussed.

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2.3 Transformational leadership
The researchers have constructed various kinds of theories of leadership and each one of
them have their advantages and disadvantages (Lin et al. 2017). The transformational and
transactional leadership theories have been discovered to be two kinds of key and significant
models.
Transactional leadership is exploited when the managers are engaging themselves with
the employees by addressing to them what is required and what they would receive if these
demands are attained in an effective manner (Alonderiene and Majauskaite 2016). Transactional
leaders engage themselves and their subordinates within a relationship of mutual reliance with
the help of which the contributions from both the sides are rewarded and acknowledged. The
transactions can even positive and negative if the objectives are not met.
Transformational leadership is seen to take place when there is emotional and active
relationship among the subordinates and the leaders. The transformational leader identifies and
makes use of the demand and the needs that are existing of a subordinate and searches for the
potential motives within the subordinates who are looking to satisfy their needs (Wong, Wong
and Wong 2015). There have been several researches that are based on the transformational
leadership and it is seen that this kind of leadership is one of the key kind of style of leadership.
Huda et al. (2018) have cited that transformational leaders assist in bringing about key
changes in moving the group members over their self-interest and lead to the effectiveness of the
group or the society. The leaders even encounter the requirement to change the organizational
structure from overcoming from a low performance to a moderate or high-performance
company. In order to attain the same, the transformational leaders try to refurbish the culture of

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
the company and thereby bring in positive and effective changes in the organization which would
lead to the success and the development of the business (Parker, Holesgrove and Pathak 2015).
The researches that have been undertaken on transformational leadership addresses the
fact that it is one form of leadership that is ideal to foster any kind of organizational change like
changes in the performance of the companies. There have been essential researches that have
authenticated the fact that the presence of transformational leadership while interlinking with the
satisfaction of the employees and performance is better for the business.
The articles that have been discussed in this section of the literature leads to the
generation of the conclusion that agreement with transformational leadership is possible as
transformational leadership assists in making changes in the decision-making process with the
advent of time and with the changes that are taking place in the economy with the help of which
better operational activities and developed and this would have a positive impact on the
securities of a company as well. It can even be cited that transformational leadership is one of the
significant aspects that is helpful in the development of motivation among the stakeholders as
well and thereby would enhance the activity level of the company as well.
2.4 The impact of the employee performance of the securities of a company on the overall
organizational performance
Srivastava and Dhar (2016) explained that transformational leadership inspire and direct
the effort of the employees by increasing their awareness of the significance of the outcomes and
the values of the companies. This procedure needs the leaders to generate a sense of mission and
vision and the intention among the employees with the help of which the confidence and
direction of the future of the companies can be attained. The demand to attain the bigger goals
activates the increased order demand of the employees, motivating them to surpass their

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
individual self-interest for the sake of the companies and their customers (McFadden, Stock and
Gowen 2015).
The next aspect has been that the transformational leaders motivate the employees to be
the source of the actual influence, performing as a role model and creating the confidence of the
employees and pride towards the companies. The next aspect has been that the transformational
leaders assists the followers to attain the mission by stimulating intellectually in order to
challenge the old forecasts about the organizational practices and issues.
By making the employees concentrate towards an outcome that is collective rather than
being self-interest and towards innovation rather than sustainability, transformational leadership
generates an environment where the employees would be willing to bear the expenses of the
performance data usage, which are aware of their advantages and they are even more creative
enough to understand these benefits (Gamache et al. 2015).
According to Van der Wal (2015), when the companies go through markets that are
turbulent, short term product life and obsolete technologies before getting depreciated, it is seen
that transformational leadership should be exploited at every extent in the companies.
Li et al. (2016) discovered that transformational leaders are able to rearrange norms and
the values of the follower, enhance the organizational and personal changes and surpass their
initial expectations of the performance. It is seen that transformational leadership generates an
emotional bonding among the employees and the leaders with the help of the modification and
the fulfilment of the values and the needs which have an impact on the quality of the employees
in accordance to the relationship towards their company by having an influence on the attitude of
the subordinates.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The assessment of these articles leads to the conclusion that employee performance has
significant level of impact on the overall company performance. It is seen that there exist various
attributes that improve the employee performance and in the same manner agreement is made on
the articles as it is seen that employee performance leads to the development of the performance
of the company as well as the securities of the company as well.
2.5 Process of Transformation
The transformational leaders have the desire to transform the performance of the
companies from the lower to the effective level of performance. The leaders would therefore
look forward to make key changes in the company by overhauling the culture of the companies.
This is undertaken with the help of various processes. It is seen that every leader is looking
forward to improve the performance of the companies in order to follow various processes.
The rise in the awareness of the individuals is one of the processes with the help of which
transformations are possible; DiGiuseppe and Shea (2015) explained that transformational
leaders need to disclose that there are certain issues. By addressing the issues, the leaders would
look to change the same. The transformational leaders look forward to develop the awareness
among the employees and the subordinates in accordance to the significance of their work and
the rewards that would be attained and thereby guide them in accordance to these awards would
be achievable.
The other way which is undertaken has been the process of transformation by assisting
the individuals to go over their self-interest. Liao et al. (2017) cited that there are two sorts of
individuals in an organization. One of them have been the ones who are working for the
betterment of the company and therefore look to make the company a better place. On the other
hand, there are other employees who perform for the company in order to attain their own best

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
interest. The transformational leader need to alter their mind-set so that they are able to look over
the interest only and look at the company as a whole where development that would be made
would be beneficial for everyone as a whole.
The method of assisting other people in order to attain the self-fulfilment is a key aspect
that leads to the development of changes. It is seen that the transformational leaders ensure that
that all of them are developing within the company.
The other way with the help of which the changes that can be made within the companies
can be done by making the employees aware about the desire for development and therefore
Chatterjee and Pollock (2017) explained that changes and alterations is a significant factor in the
current time period most of the companies are dependent on it. It is the role of the leader to
create an understanding that the employees about the reason why changes are essential and the
steps that would be taken in order to make the changes. Hence, it is seen that the companies as
well the leaders need to undertake plans and policies with the help of which better performance
of the companies are possible.
2.6 Leadership and impact on shares
Financial researchers have stressed on the fact that leadership skills of the management
has an impact on the development of the companies. The financial performance of an
organization is undertaken by the leaders of the firm and thereby they undertake extensive plans
and strategies with the help of which they can construct plans and decisions in relation to the
share price and the issue of the shares in the market (Srinivasan, Wuyts and Mallapragada 2018).
However, it is seen that the impact of leadership on the results that are in relation to
corporate earnings and in relation to equity value has been found to be an issue. The financial

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
outcomes have remained one of the key aspects for the investment researcher, which they make
use of in order to assess the present and the future outcome and the success of the business. The
companies have been incorporating the decisions that are in relation to senior leadership in order
to create an understanding of the valuation of the equities. Potdar et al. (2018) explained the
financial performance of an organization determines the efficiency level of the leaders. The
attainment of premium valuation is possible with the help of the leadership skills of the leaders.
Boguth et al. (2016) explained that leadership style of the leaders determines the performance of
the business. The amount of stocks that would be issued by the companies is dependent on the
perception and the decision of the leaders. The leaders assess the market and accordingly
forecast the financial performance of the business and accordingly take the decision of issuing
shares or forfeiture of shares. The performance of the company and the generation of the profit
of the companies are dependent on the decisions that are undertaken by the leaders and therefore
securities of the company and the leadership attribute of the management.
The size of the company even has a significant role to play in the performance of the
leaders as well. Lourenço et al. (2014) cited that the size of the company determines the
effectiveness of the leaders as when the size of the companies is big, the management and the
style of leaders differ. The bigger companies are faced with various issues and therefore these
aspects would be taken into consideration by the leaders when undertaking the decisions. The
leaders of the smaller companies have lower burden and therefore they can focus separately on
each and every aspect. It is seen that financial performance is one of the key factors and therefore
significant amount of stress is given on this factor and therefor focus on the securities of the
company are existent. The objectives of the company and the attitude of the leaders determine
the extent of focus on the shares of the company. The activities as well as the performance of the

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
shares in the market determine the extent of external investments that would take place and
would even determine the how much investors would be interested in undertaking new
investments. Hui-Na and Wo-Chiang (2015) explained that the performance of the companies in
the economy would determine their efficiency level and accordingly the performance of the
shares of the company in the economy would be understood. Babić, Savović and Domanović
(2014) therefore addressed the fact that there exists a direct relationship among the impact of the
leaders on the performance of the shares of the company. In certain cases, it has been observed
that leaders of certain companies undertake unethical actions and plans with the help of which
they disclose false information to the market and the stakeholders. This satisfies the customers in
a significant manner but it is seen that the actual performance of the company is still not
competent.

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Chapter 3: Research Methodology
3.1 Introduction
The intention of the methodology has been to define the kind of data that is ideal for this
topic and the process that would be taken into consideration in order to collect this kind of data.
The gathering of the data is dependent on the discretion of the topic and therefore proper analysis
has to be done before coming to the conclusion that which kind of data is ideal for this research.
The design and the approach that would be used is even explained in this paper with the help of
which a guideline and course would be highlighted in order to collect the data and thereafter
proceed with the data analysis method. The topic that is taken into consideration in this paper is
comparison and effect of leadership on the securities company in Seoul, South Korea. It is due to
this fact that all the data has been collected from employees and the managers who are working
in securities company in Seoul, South Korea.
3.2 Research Philosophy
The philosophy has been helpful in the development of the ideology which has been
regarded in this paper in order to collect and preserve the data so that proper evaluation is
possible. The collection and the analysis of the data would be reliant on the aims and objectives
of the topic. The philosophy assists in the analysis of the traits and the sources as well as the
development of understanding of the data that is in association to this topic. Piansoongnern
(2016) discovered that there are three sorts of philosophies that are available to them and each
one of them have their own traits with the help of which better results can be ascertained.
However, philosophy of realism has been considered simply due to the fact that this would be
helpful in attaining robust and proper knowledge on the topic with the help of which authentic
results would be achievable.

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3.3 Research Approach
The approach is helpful in the determination of the models and the structure that would
be suitable for this topic with the help of which effective procedure of data analysis would be
known. The approach is therefore helpful in the development of the base according to which the
evaluation process would move forward. There are two kinds of approaches that are available for
use and they are deductive approach and inductive approach. The inductive approach refers to
the creation of new and innovative models and theories that have been constructed for the first
time in order to attain the results as desired (Wang 2015). On the other hand, deductive approach
refers to the models and the theories that have been used earlier in other researches. In
accordance to this paper, deductive approach is selected as the models and theories that have
been used earlier would be taken into consideration and no new models have been constructed.
3.4 Research Design
The productivity and the effectiveness in association to the topic are dependent on the
research design that would be exploited by the researcher. The efficient thesis is supportive in the
assessment and interpretation of the data within a definite time frame that would be helpful in the
development of the research outcome. The three kinds of design that are available for use are
descriptive, explanatory and exploratory design (Coleman 2016). In accordance to this topic,
explanatory research design has been chosen as it would be helpful in creating an understanding
of the cause and effect relationship among leadership and its impact on the securities of the
company. The explanatory design has been helpful in explaining the ideas and the determinants
that are effective enough in the development of the desired result.

23
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
3.5 Kind of Data
In accordance to this topic, quantitative as well as qualitative data has been used in order
to have an understanding of the topic in an extensive manner. It is seen that quantitative data has
been used with the help of which the data that is collected is converted into numerical and
figures with the help of which the effectiveness of leadership has been ascertained. Qualitative
data has been used in order to collect data with the help of face to face interactions and even
from various secondary sources with the help of which better results have been discovered.
Primary data has been selected for this paper and therefore the responses of the selected
respondents have been taken into consideration with the help of which better and effective results
have been determined (Klettner, Clarke and Boersma 2016). Interview of the managers would
even be undertaken so that their perceptions and ideas on the topic can be collected and
thereafter proper evaluation is possible. Secondary data on the other hand has been collected by
taking assistance of secondary sources like websites, journals and manuals with the help of
which better understanding and knowledge has been known.
3.6 Sample and Sample Size
The sample constitutes of the overall group of people who have been chosen in order to
provide the data that is helpful in the completion of the paper. It is due this fact that 75
respondents out of the overall employees of the securities company have been selected who have
been working in the company for over 2 years and their responses have been taken in order to
reach the desired result. On the other hand, for the purpose of undertaking the interview, it is
seen that 5 managers who have an experience of over 10 years in the company and over 10 years
as the manager has been selected in order to gather their point of view as well. The overall
analysis will be definitely being fruitful in the discovery of the desired outcome. The target

24
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
population for the collection of the data has been the employees and the managers who are
working in the securities companies that are operational in Seoul, Korea. In accordance to the
selection of the sample, simple random sampling has been taken into consideration and therefore
respondents have been selected from the employees who have been working in the security
companies for over 2 years and therefore from this pool of employees simple random sampling
has been used and therefore selection of the respondents has been done from this pool. Simple
random sampling provides equal opportunity to all the employees within the pool to get selected.
The participants who have been selected are eligible for the contribution of the research as all the
respondents are from the securities company and have been within the company for over 2 years
and therefore have adequate knowledge on leadership and therefore they would be able to
provide sufficient insight with the help of which the analysis in accordance to the topic can be
done and desired results are attainable.
3.7 Process of data collection
The collection of the data has been done with the help of survey analysis. It is due to this
fact that close ended questionnaire has been constructed and these questionnaires have been
forwarded to the selected participants and have been asked to fill up the same in order to gather
their point of view as well. On the other hand, in order to undertake the interview, open ended
questions are constructed and these questions have been asked to the managers in order to collect
their views as well. The secondary data has been used by taking assistance of internet sources,
journals, articles and manuals in accordance to this topic with the help of which better results
have been determined. All the questions that have been asked to the employees and the managers
are structured questions and therefore it assists in gaining responses that would be ideal for the
purpose of analysis. A permission letter had been forwarded to the respondents and therefore

25
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
after their permission, the questionnaires were handed over to them so that they can fill up the
same and provide data that is required for the purpose of analysis.
3.8 Data Analysis Plan
The analysis of the data would be done with the help of SPSS statistical software with the
help of which the collected data would undergo analysis and thereafter results would be
discovered with the help of which desired results can be determined. Thematic analysis has been
done for the interview analysis of the managers with the help of which overall evaluation is
possible and better outcome of the paper has been ascertained.
3.9 Ethical Consideration
In order to undertake a research, it is essential to maintain the ethics for the research so
that the data that is gathered has been true and authentic sources and therefore the data that
would be used are accurate and thus the results that has been attained has been true and precise.
Hence, in this paper, the researcher has abided with the ethical rules and policies that have been
disclosed by national and international ethical bodies and therefore all the data has been collected
from authentic sources so primary data has been collected from the selected respondents and
managers and the secondary data that is used has been collected from authentic websites and
journals that are related to this topic. The consideration of ethics is helpful in the lowering of
risks that is related to collection of the data and therefore the results that has been ascertained
will be true and fair.

26
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Chapter 4: Data Analysis
4.1 Introduction
This section of the paper has the intention of providing an analysis of the data that has
been collected and extensive explanation has been made so that precise and effective results can
be ascertained. The paper has therefore undertaken frequency analysis, along with correlation,
reliability test and Kendall’s W test so that proper assessment is possible and accordingly an idea
can be created with the help of which outcome of the paper is possible. Interview analysis will be
undertaken as well of the managers and their views and perceptions have been taken into
consideration in order to bring out the actual outcome of the paper.
4.2 Frequency Analysis
The questions that have been asked to the respondents have been segmented into
demographic questions and topic related questions and each one of them have been explained as
follows:
4.2.1 Demographics
This is the first question that has been asked to the respondents and it is seen that 50.7%
are male and the rest of 49.3% are female. It is seen that the respondents have been very equally
distributed among male and female.

27
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The next question that has been asked has knowing the age group of the respondents. It is
seen that 29.3% of the respondents are within the age group 26- 35 years and 28% are within the
age group of 36-45 years. 21.3% are within the age group of 46-55 years and 13.3% are in the
age group of 56 years and above. A small percentage of 8% are within the age group of 18-25
years. It can therefore be said that most of the respondents are within the middle age group.
This question is associated to having knowledge about the designation the respondents
possess. It is seen that 56% of the respondents are executives and 32% of them are managers. A
small percentage of 12% are interns for the companies.
4.2.2 Response Table

28
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Variables Strongly
disagree
Disagree Neutral Agree Strongly
agree
The leaders
make other feel
good within the
company
2.7% (2) 4% (3) 24% (18) 44% (33) 25.3% (19)
The leaders
think about the
old problems in
a new way
1.3% (1) 6.7% (5) 16% (12) 44% (33) 32% (24)
The leaders
help in
developing
others with the
help of
motivation
4% (3) 2.7% (2) 14.7% (11) 50.7% (38) 28% (21)
Personality of
the leaders have
an impact on
the satisfaction
of the
employees
2.7% (2) 6.7% (5) 13.3% (10) 38.7% (29) 38.7% (29)
Communication
skills of the
leaders
determine the
style of
leadership
2.7% (2) 8% (6) 14.7% (11) 32% (24) 42.7% (32)
The leaders are
competent
enough in
resolving all the
issues within
the company
1.3% (1) 4% (3) 13.3% (10) 42.7% (32) 38.7% (29)
Rewards and
recognition are
given to the
employees by
the leaders
when they
reach their
goals
2.7% (2) 5.3% (4) 14.7% (11) 38.7% (29) 38.7% (29)
Employees have
faith on their
leaders
0% (0) 5.3% (4) 10.7% (8) 45.3% (34) 38.7% (29)
Personal 4% (3) 2.7% (2) 14.7% (11) 38.7% (29) 40% (30)

29
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
attention is
given to the
employees who
require
attention
The standards
that have to be
carried out are
conveyed
1.3% (1) 4% (3) 10.7% (8) 53.3% (40) 30.7% (23)
The style and
the perception
of the leaders
determine the
development of
the company
2.7% (2) 5.3% (4) 9.3% (7) 40% (30) 42.7% (32)
In accordance to the first question that is looking to answer whether the leaders are able
to make the others feel good within the company explains that 44% of them have agreed and
25.3% have strongly agreed. 24% have remained neutral and a small percentage of 4% have
disagreed and the rest of 2.7% have strongly disagreed.
The next question that has been asked has looked to answer to the fact whether the
leaders are able to think about any old problems in a new way. It is seen that 44% have agreed
and 32% have strongly agreed. 16% of them have remained neutral and 6.7% have disagreed. It
is seen that only 1.3% have strongly disagreed.
This question looks to answer the fact that whether the leaders are helpful in developing
others with the help of motivation. The responses reveal that 50.7% have agreed and 28% have
strongly agreed. 14.7% have remained neutral and 4% have strongly disagreed. It is seen that
2.7% have disagreed to this point.
This question has looked to answer to the fact that whether the personality of the leaders
have an impact on the employee satisfaction. It is seen that 38.7% have agreed and the same

30
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
percentage of 38.7% have strongly agreed. 13.3% have remained neutral whole 6.7% have
disagreed and 2.7% have strongly disagreed.
This question looks to answer to the fact that the communication skills of the leaders
determine the style of leadership and it is seen that 42.7% have strongly agreed and 32% have
agreed to this point. It is seen that 14.7% have stayed neutral and 8% have disagreed to this
point. Only a meagre percentage of 2.7% have strongly disagreed.
This question has tried to answer whether the leaders have been competent in resolving
all the issues in an organization. It is seen that 42.7% have agreed to this point and 38.7% have
strongly agreed. 13.3% have looked to remain neutral and 4% of them have disagreed. It is seen
that 1.3% of them have strongly disagreed to this point.
The next question that is in line has been the fact that whether rewards and recognition
are given to the employees and it is seen that 38.7% have agreed and the same percentage of
38.7% have strongly agreed. 14.7% have remained neutral and 5.3% have disagreed to this point.
The rest of 2.7% have strongly disagreed to this point.
A question has even been asked that whether the employees have faith on their leaders. It
is seen that 45.3% have agreed to this point and 38.7% have strongly agreed. 10.7% have
remained neutral and 5.3% have disagreed.
The question that has been asked has been that personal attention is given towards the
employees who are in need of attention. It is seen that 40% have strongly agreed and 38.7% have
agreed. 14.7% stayed neutral; and 2.7% have disagreed. On the contrary 4% of them have
strongly disagreed.

31
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The next question has looked to answer whether all the standards are conveyed by the
leaders and it is seen that 53.3% have agreed and 30.7% have strongly agreed. 10.7% remained
neutral; and 4% of them have disagreed. The rest of 1.3% have strongly disagreed.
The last and the final question that has been asked has been whether the perception and
the style of the leaders ascertain the development of the companies. The results indicate that
421.7% have strongly agreed and 40% have agreed to this point. 9.3% have remained neutral and
5.3% have disagreed. The rest of 2.7% have strongly disagreed to this point.

3232
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
4.3 Correlation coefficient
In the following table of correlation coefficient, the correlation coefficients are calculated in the bivariate manner. Although,
the values of correlation-coefficients are enough to indicate the association between two variables, the correlation coefficient has a
certain level of statistical significance. Two types of correlations are calculated as per 1% and 5% level of significance. The presence
of significant correlations is confirmed with 99% and 95% probability. ‘Communication skills of the leaders determine the style of
leadership’ has significant correlation with most of the variables and ‘The style and the perception of the leaders determine the
development of the company’ has insignificant correlation with most of the variables. The correlation coefficient with 5% level of
significance is weaker than correlation coefficient with 1% level of significance.
Correlations
The
leaders
make
other
feel
good
within
the
compan
y
The
leaders
think
about
the old
proble
ms in a
new
way
The
leaders
help in
developi
ng others
with the
help of
motivatio
n
Personalit
y of the
leaders
have an
impact on
the
satisfacti
on of the
employee
s
Communicati
on skills of
the leaders
determine the
style of
leadership
The
leaders
are
compete
nt
enough
in
resolvin
g all the
issues
within
the
company
Rewards
and
recogniti
on are
given to
the
employee
s by the
leaders
when
they
reach
their
goals
Employ
ees have
faith on
their
leaders
Personal
attention
is given to
the
employee
s who
require
attention
The
standard
s that
have to
be
carried
out are
conveye
d by the
leaders
The style
and the
perception
of the
leaders
determine
the
developme
nt of the
company

33
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The leaders
make other
feel good
within the
company
Pearson
Correlati
on
1 .259* .341** .288* .368** .330** .397** .172 .240* .239* .258*
Sig. (2-
tailed) .025 .003 .012 .001 .004 .000 .140 .038 .039 .026
N 75 75 75 75 75 75 75 75 75 75 75
The leaders
think about
the old
problems in a
new way
Pearson
Correlati
on
.259* 1 .439** .397** .472** .277* .160 .404** .272* .382** .061
Sig. (2-
tailed) .025 .000 .000 .000 .016 .171 .000 .018 .001 .604
N 75 75 75 75 75 75 75 75 75 75 75
The leaders
help in
developing
others with
the help of
motivation
Pearson
Correlati
on
.341** .439** 1 .532** .426** .549** .202 .301** .046 .277* .151
Sig. (2-
tailed) .003 .000 .000 .000 .000 .083 .009 .698 .016 .196
N 75 75 75 75 75 75 75 75 75 75 75
Personality of
the leaders
have an
impact on the
satisfaction of
the
employees
Pearson
Correlati
on
.288* .397** .532** 1 .481** .307** .224 .184 .286* .092 .210
Sig. (2-
tailed) .012 .000 .000 .000 .007 .054 .114 .013 .435 .071
N 75 75 75 75 75 75 75 75 75 75 75

34
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Communicati
on skills of
the leaders
determine the
style of
leadership
Pearson
Correlati
on
.368** .472** .426** .481** 1 .334** .289* .419** .409** .299** .303**
Sig. (2-
tailed) .001 .000 .000 .000 .003 .012 .000 .000 .009 .008
N 75 75 75 75 75 75 75 75 75 75 75
The leaders
are competent
enough in
resolving all
the issues
within the
company
Pearson
Correlati
on
.330** .277* .549** .307** .334** 1 .554** .170 .048 .313** .225
Sig. (2-
tailed) .004 .016 .000 .007 .003 .000 .145 .682 .006 .053
N 75 75 75 75 75 75 75 75 75 75 75
Rewards and
recognition
are given to
the
employees by
the leaders
when they
reach their
goals
Pearson
Correlati
on
.397** .160 .202 .224 .289* .554** 1 .250* .210 .287* .075
Sig. (2-
tailed) .000 .171 .083 .054 .012 .000 .030 .070 .013 .525
N 75 75 75 75 75 75 75 75 75 75 75
Employees
have faith on
their leaders
Pearson
Correlati
on
.172 .404** .301** .184 .419** .170 .250* 1 .371** .332** .085
Sig. (2-
tailed) .140 .000 .009 .114 .000 .145 .030 .001 .004 .470
N 75 75 75 75 75 75 75 75 75 75 75

35
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Personal
attention is
given to the
employees
who require
attention
Pearson
Correlati
on
.240* .272* .046 .286* .409** .048 .210 .371** 1 .265* .288*
Sig. (2-
tailed) .038 .018 .698 .013 .000 .682 .070 .001 .022 .012
N 75 75 75 75 75 75 75 75 75 75 75
The standards
that have to
be carried out
are conveyed
by the leaders
Pearson
Correlati
on
.239* .382** .277* .092 .299** .313** .287* .332** .265* 1 .398**
Sig. (2-
tailed) .039 .001 .016 .435 .009 .006 .013 .004 .022 .000
N 75 75 75 75 75 75 75 75 75 75 75
The style and
the perception
of the leaders
determine the
development
of the
company
Pearson
Correlati
on
.258* .061 .151 .210 .303** .225 .075 .085 .288* .398** 1
Sig. (2-
tailed) .026 .604 .196 .071 .008 .053 .525 .470 .012 .000
N 75 75 75 75 75 75 75 75 75 75 75
*. Correlation is significant at the 0.05 level (2-tailed).
**. Correlation is significant at the 0.01 level (2-tailed).

00
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
4.4 Reliability of the data set:
Reliability data tends to proper conclusion (Krippendorff 2008). Unreliable data infer bad
conclusion.
Reliability Statistics
Cronbach's Alpha N of Items
.799 14
The value of reliability statistic (Cronbach’s alpha) is 0.799. Therefore, the data is overall
reliable as its value ranges in the interval 0.6 to 0.9.
Item-Total Statistics
Scale Mean if
Item Deleted
Scale Variance
if Item Deleted
Corrected Item-
Total
Correlation
Cronbach's
Alpha if Item
Deleted
Gender 50.01 47.121 -.049 .810
Age Group 48.49 40.037 .378 .792
Designation in the company 49.08 45.588 .101 .807
The leaders make other feel
good within the company 47.67 40.252 .495 .781
The leaders think about the
old problems in a new way 47.53 40.333 .489 .781
The leaders help in
developing others with the
help of motivation
47.56 39.844 .524 .778
Personality of the leaders
have an impact on the
satisfaction of the
employees
47.48 39.496 .507 .779
Communication skills of the
leaders determine the style
of leadership
47.48 37.685 .624 .768

1
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The leaders are competent
enough in resolving all the
issues within the company
47.39 40.375 .519 .779
Rewards and recognition
are given to the employees
by the leaders when they
reach their goals
47.47 40.225 .459 .783
Employees have faith on
their leaders 47.35 42.094 .396 .789
Personal attention is given
to the employees who
require attention
47.44 41.061 .383 .790
The standards that have to
be carried out are conveyed
by the leaders
47.44 40.736 .526 .779
The style and the perception
of the leaders determine the
development of the
company
47.37 41.724 .343 .793
The value of Cronbach’s alpha is greater than 0.6 for the variables. Therefore, no variable
could be deleted from the data set.
4.5 Kendall’s W
Kendall’s coefficient of concordance (Kendall’s W) is a non-parametric measure of
agreement among the responders. It undertakes the mean rank of the considered variables and
validates the equality of responses.
Ranks
Mean Rank
The leaders make other feel good within the company 5.15
The leaders think about the old problems in a new way 5.71
The leaders help in developing others with the help of
motivation 5.61

2
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Personality of the leaders have an impact on the satisfaction of
the employees 6.13
Communication skills of the leaders determine the style of
leadership 6.21
The leaders are competent enough in resolving all the issues
within the company 6.31
Rewards and recognition are given to the employees by the
leaders when they reach their goals 6.15
Employees have faith on their leaders 6.38
Personal attention is given to the employees who require
attention 6.24
The standards that have to be carried out are conveyed by the
leaders 5.84
The style and the perception of the leaders determine the
development of the company 6.27
Test Statistics
N 75
Kendall's Wa .018
Chi-Square 13.421
df 10
Asymp. Sig. .201
a. Kendall's Coefficient of Concordance
As per W-value, we can find the coefficient of concordance. For Kendall’s W = 0,
everyone ranked the responses randomly or differently. For Kendall’s W = 1, everyone ranks the
list in exactly the equal order (Source: Spss-tutorials.com. 2018). Similarly, if level of
significance is assumed to be 5%, then the p-value of the W-statistic ‘less than 5%’ refers that
every responder has almost equal order of responses and the p-value of the W-statistic ‘greater
than 5%’ refers that every responder does not have equal order of responses.

3
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
4.6 Kruskal Wallis Test
The Kruskal Wallis test is a non-parametric test which is the complementary of one-way
ANOVA. It determines the whether the samples originate from the same distribution or not. It is
utilised for comparing two or more indepe3ndnet samples of equal or different sample sizes
(Field 2009).

00
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Ranks
Employees have faith on their leaders N Mean Rank
The leaders make other feel good within the
company
Disagree 4 24.63
Neutral 8 33.75
Agree 34 38.29
Strongly agree 29 40.67
Total 75
The leaders think about the old problems in a
new way
Disagree 4 27.25
Neutral 8 18.44
Agree 34 36.09
Strongly agree 29 47.12
Total 75
The leaders help in developing others with
the help of motivation
Disagree 4 17.13
Neutral 8 31.44
Agree 34 37.81
Strongly agree 29 42.91
Total 75
Personality of the leaders have an impact on
the satisfaction of the employees
Disagree 4 34.38
Neutral 8 28.88
Agree 34 36.26

1
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Strongly agree 29 43.05
Total 75
Communication skills of the leaders
determine the style of leadership
Disagree 4 13.13
Neutral 8 25.19
Agree 34 37.79
Strongly agree 29 45.21
Total 75
The leaders are competent enough in
resolving all the issues within the company
Disagree 4 26.00
Neutral 8 33.25
Agree 34 37.90
Strongly agree 29 41.09
Total 75
Rewards and recognition are given to the
employees by the leaders when they reach
their goals
Disagree 4 31.63
Neutral 8 29.25
Agree 34 34.57
Strongly agree 29 45.31
Total 75
Personal attention is given to the employees
who require attention
Disagree 4 33.38
Neutral 8 13.75
Agree 34 37.79

2
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Strongly agree 29 45.57
Total 75
The standards that have to be carried out are
conveyed by the leaders
Disagree 4 25.13
Neutral 8 23.50
Agree 34 38.84
Strongly agree 29 42.79
Total 75
The style and the perception of the leaders
determine the development of the company
Disagree 4 39.38
Neutral 8 34.81
Agree 34 36.63
Strongly agree 29 40.29
Total 75

3
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Test Statistics a,b
The leaders
make other
feel good
within the
company
The leaders
think about
the old
problems
in a new
way
The leaders
help in
developing
others with
the help of
motivation
Personality
of the
leaders
have an
impact on
the
satisfaction
of the
employees
Communicatio
n skills of the
leaders
determine the
style of
leadership
The leaders
are
competent
enough in
resolving
all the
issues
within the
company
Rewards
and
recognition
are given to
the
employees
by the
leaders
when they
reach their
goals
Personal
attention is
given to the
employees
who
require
attention
The
standards
that have to
be carried
out are
conveyed
by the
leaders
The style
and the
perception
of the
leaders
determine
the
development
of the
company
Chi-
Square 2.546 14.535 6.950 3.727 12.584 2.522 6.508 15.524 7.809 .749
df 3 3 3 3 3 3 3 3 3 3
Asymp.
Sig. .467 .002 .074 .292 .006 .471 .089 .001 .050 .862
a. Kruskal Wallis Test
b. Grouping Variable: Employees have faith on their leaders
The p-values of the Chi-square statistic less than 0.05 of the previous table indicates that the corresponding ordinal variables have
same mean rank and the p-values greater than 0.05 indicates that the corresponding ordinal variables have different mean rank with
respect to grouping variable ‘Employee have faith on their leaders’.

00
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Chapter 5: Discussion
The discussion that is done is on the basis of the analysis that has been done in the
previous chapter. It is seen that by looking into the frequency analysis, the higher percentage of
the respondents have agreed to all the questions that have been asked to them in relation to
leadership and their impact on the securities company in Seoul, Korea. There have been certain
respondents who may not have agreed to all the questions that have been asked to them but the
overall analysis addresses the fact that leadership has extensive and significant level of impact on
the performance of the companies in the securities industry in Seoul, Korea. The analysis has
even discovered the fact that there are certain areas on which improvements and developments
that are possible and these areas has to be taken into consideration by the leaders in the near
future in order to enhance their level of effectiveness and attain the goals of the company within
the specified time frame.
First of all, the data set is found to be absolutely reliable as the value of Cronbach’s alpha
of the data set is greater than 0.7 but less than 0.9. No variable could be deleted from the data-
frame.
The correlation coefficient determines the cause and effect association and correlation
between two variables. The correlation can vary in the range -1 to 1 (Source:
Statistics.laerd.com. 2018). The negative absolute correlation is determined by the value (-1) and
positive absolute correlation is determined by the value (1). The value of (0.2 to 0.4) indicates
weak correlation, (0.4 to 0.7) indicates moderately strong correlation and (0.7 to 1) indicates
strong correlation (Sedgwick 2012). The correlation could be both positive and negative.

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The leaders make others feel good within the company has significant correlation with all
the other variables except employees have faith on their leaders. The leaders think about the old
problems in a new way has significant correlation with all the variables except rewards and
recognition are given to the employees by the leaders when they reach their goals as well as the
style and the perception of the leaders determine the development of the company. The leaders
help in developing others with the help of motivation has significant correlation with all the
variables except ‘Rewards and recognition are given to the employees by the leaders when they
reach their goals’, ‘Personal attention is given to the employees who require attention’ and ‘The
style and the perception of the leaders determine the development of the company’. The next
factor, ‘Personality of the leaders have an impact on the satisfaction of the employees’ has
significant correlation with all the variables except ‘Rewards and recognition are given to the
employees by the leaders when they reach their goals’, ‘Employees have faith on their leaders’
and ‘The style and the perception of the leaders determine the development of the company’. The
factor ‘Communication skills of the leaders determine the style of leadership’ has significant
correlation with all the variables. ‘The leaders are competent enough in resolving all the issues
within the company’ has significant correlation with all the variables except ‘Employees have
faith on their leaders’, ‘Personal attention is given to the employees who require attention’ and
‘The style and the perception of the leaders determine the development of the company’.
‘Rewards and recognition are given to the employees by the leaders when they reach their
goals’ and ‘Employees have faith on their leaders’ have significant correlation with almost half
of the rest of the variables and insignificant correlation with rest of half of the variables.
‘Personal attention is given to the employees who require attention’ has significant correlation
with all the rest of the variables except ‘The leaders help in developing others with the help of

2
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
motivation’, ‘The leaders are competent enough in resolving all the issues within the company’
and ‘Rewards and recognition are given to the employees by the leaders when they reach their
goals’. The factor ‘The standards that have to be carried out are conveyed by the leaders’ has
significant correlation with all the variables except ‘Personality of the leaders have an impact on
the satisfaction of the employees’. ‘The style and the perception of the leaders determine the
development of the company’ has significant correlation with the variables ‘The leaders make
other feel good within the company’, ‘Communication skills of the leaders determine the style of
leadership’, ‘Personal attention is given to the employees who require attention’ and ‘The
standards that have to be carried out are conveyed by the leaders’.
It indicates that most of the responses are correlated with each other. That is, they have
significant correlation between themselves. The dependent variables of effect of leadership
‘Faith of the employees on the leaders’ has high and significant correlation with most of the
independent variables.
The value of Kendall’s W = 0.018. Therefore, it could be concluded that the responders
do not agree with each other. The chi-square statistic (13.421) with p-value 0.201, indicates that
there do not exist significant association within the responses of different responders (Legendre
2005).
The mean rank of different ordinal values of different dependent values with respect to
faith of the leaders are calculated with the help of Kruskal Wallis test. The p-values values of
Kruskal Wallis test statistic indicates that ‘The leaders think about the old problems in a new
way’ (0.002), ‘Communication skills of the leaders determine the style of leadership’ (0.006),
‘Personal attention is given to the employees who require attention’ (0.001) and ‘The standards

3
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
that have to be carried out are conveyed by the leaders’ (0.05) have different level of responses
(Source: Statistics.laerd.com. 2018). The other factors have same level of responses.
5.1 Quantitative findings in Brief:
The data under consideration is reliable and valid. In this reliable data analysis, it was
found as per Kendall’s W that most of the responders have different types of mentality. Most of
the variables has different types of responses within itself except renewal of old problems,
communication skills, personal attention towards employees’ requirements and standards of
carrying out. Not only that, trust of the employees of the company has high significant
correlation with most of the independent variable. However, the table of correlation coefficient
indicate that insignificant correlation comes from ‘feel good situation’, ‘personality of leaders
towards customer satisfaction’, ‘competency to resolve the issues’ and ‘style and perception of
the leaders’.
5.2 Interview Analysis
The interview analysis has been done on the basis of the answers that have been provided
by the five managers who have been chosen. These five managers have been working in the
companies for over 10 years and therefore sufficient knowledge that would help addressing the
impact of leadership on the securities companies in Seoul, Korea. An overall analysis would be
done on the basis of the answers that have been provided by the five managers on each of the
questions and thereby an idea and perspective can be attained with respect to the role and the
impact of the leaders on these companies.
In accordance to the first question, that looks to answer whether the style of leadership
has an influence on the performance of the companies it is seen that 4 out of the five managers
have pointed out the fact style of leadership has an essential role to play as their style and

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
leadership quality determines the actions and the performance of the company as a whole. On the
other hand, the remaining manager has expressed the fact that the style of leadership does not
have critical role to play as he feels that the performance of the company is dependent on the
performance that is given by the employees and the changes that are taking market as a whole.
The next question that has been asked to the managers has been that whether
communication skills of the leaders motivate the performance of the employees. It is seen that 4
managers out of the 5 have agreed to this point as effective communication and skills of
communication of the leaders determine the motivation of the employees and this enhances the
performance quality of the leaders. The lone manager denies to this point as he feels that the
point of view of the employees and certain other factors have an influence of the performance of
the employees.
This question has looked to determine the fact that whether the profit of the companies is
influenced by the decisions that are taken by the leaders. All of the five managers have agreed to
this point due to the fact that the profit is dependent in the decisions that are taken by the leaders.
If the decisions are ineffective then the extent of profit would get lowered and vice versa. Hence,
it can be ascertained that the profit of a company is dependent on the decisions of the leaders as
they are the ones who takes all the decisions.
The next question that has been taken into consideration has been tenure of completion of
the goals of the companies is dependent on the quality and the style of leadership. In accordance
to this question, all the managers have agreed to this point and they have point out the fact that
the leaders are the ones who specify the time within which a work needs to be completed and
therefore they take charge in making sure that all the tasks and the goals are achieved within the
deadline provided.

5
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
The last question that has been asked to the question has been whether the leadership
quality is able to mitigate the risks of the company. Three of the managers have said that they
feel that leadership quality is able to mitigate the level of risks as they are the ones who
constructs plans and policies with the help of which these risks can be mitigated. However, the
other two managers have cited the fact that there are other factors like the economic and political
factors that have an influence on the level of risks and the reduction in risks. The overall
interview analysis therefore concludes the fact that significant level of impact is there on the
leadership of the leaders in the securities companies in Seoul, Korea. Hence, it is seen that
leadership has significant amount of impact on the performance of the securities companies in
Seoul, Korea.

6
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Chapter 6: Conclusion, Recommendation and Future Work
6.1 Conclusion
The discussion of the study shows that the most of the variables has been to be showing a
positive response to the variables set for the study. It needs to be seen that the response of the
variable ‘standards that have to be carried out are conveyed’ is seen to be highest in nature. This
is seen with a response percentage of 84% including the response of the individuals who strongly
agree and agree to the aforementioned statement. The second highest response of the individual
is seen to be specific with the style and the perception of the leaders to determine the
development of the company. The total positive percentage for this response is depicted to be
82.7%. It is seen that 40% of the respondents agree and 42.7% strongly agree to the style and the
perception of the leaders to determine the development of the company. The third highest
response of the individual is seen to be specific with the response for what the leaders think
about the old problems in a new way. This is seen to be evident with the 50.7% of the
respondents who agree to the given statement and 28% of the respondents who strongly agree to
the statement.
The highest significance from the correlation data can be seen among the responses for
the leaders who are competent enough in resolving all the issues within the company and the
responses for the rewards and recognition are given to the employees by the leaders when they
reach their goals. The high correlation value is evident with 0.554. A similar significance in the
correlation is further seen with the response for Rewards and recognition are given to the
employees and the various responses for the leaders are competent enough in resolving all the
issues within the company. There has been important correlation also depicted in terms on the
different types of the responses which is seen to be associated to Personality of the leaders have

7
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
an impact on the satisfaction of the employees and the leaders help in developing others with the
help of motivation. This considered to be evident with a correlation value of .532. Some of the
other significant nature of the other correlation value needs to be considered with the response
pertaining to the leaders help in developing others with the help of motivation and
Communication skills of the leaders determine the style of leadership. This is seen with a total
correlation value of 0.426. The responses pertaining to what the leaders think about the old
problems in a new way and Communication skills of the leaders determine the style of leadership
is inferred with a strong significance. This is seen with a correlation value of 0.472.
It has been further seen that the research can be inferred as reliable in nature. This is
evident with the Cronbach’s alpha value of 0.799 which is more than 0.6. The inference from the
Kendall’s W shows that response given by the research subject have not deviating in terms of the
trend of answering the questions. This is seen to be evident with the Kendall's Wa value of .018.
In addition to this, the main inference from the Kendall W is seen with the trend that the
respondents who has a tendency to mark positive response has stick to that opinion and vice
versa.
6.2 Recommendation
The main recommendation for the study needs to be focused with the standards that have
to be carried out are conveyed with proper guidelines. In addition to this, the research is also
recommended to consider the various types of the other responses of the individual which are
depicted with the perception of the leaders to determine the development of the company. Some
of the other recommendations of the research work needs to be taken into account with the
various types of the considerations for the leaders think about the old problems in a new way.
The recommendations as per the correlations of the study needs to be taken into consideration

8
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
with the various dimensions of the study which relates to an augmented focus on the leaders who
are competent enough in resolving all the issues within the company and the responses for the
rewards. In addition to this. it is also recommended that the study gives a greater emphasis on the
responses for the rewards and recognition are given to the employees by the leaders when they
reach their goals.
6.3 Scope of future work
The inclusion of the scope of the further work needs to be determined with the various
aspects of the study which are seen to be putting an augmented focus on the areas of weakness.
The future study needs to include more data on providing the rationale for the low significance of
the leaders to make other feel good within the company and the leaders think about the old
problems in a new way. In addition to this, the future study should be able to depict the various
main problems in area of the personal attention is given to the employees who require attention.
In the scope of the various types of the other aspect of the study the main information needs to be
inferred with the important considerations of the low correlation between the leaders make other
feel good within the company and the standards that have to be carried out are conveyed by the
leaders. It needs to be also seen that the depiction of the various types of the information relating
to the leaders think about the old problems in a new way needs to be determined with the
Personal attention is given to the employees who require attention. The study of the research
study is further seen to be considered as per are the relevant aspects of the research study related
to the focus on the responses of what the leaders make other feel good within the company and
Employees have faith on their leaders. It needs to be categorized that the important aspects of the
study pertaining to the relevant aspect of information in the future work needs to be associated to
enhance the effect in the leadership on the securities companies in the Seoul.

9
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Appendix
Questionnaire
Q1. Gender
 Male
 Female
Q2. Age Group
 18-25 years
 26-35 years
 36-45 years
 46-55 years
 56 years and above
Q3. Designation in the company
 Intern
 Executive
 Manager
Q4. The leaders make other feel good within the company
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree

20
COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Q5. The leaders think about the old problems in a new way
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q6. The leaders help in developing others with the help of motivation
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q7. Personality of the leaders have an impact on the satisfaction of the employees
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q8. Communication skills of the leaders determine the style of leadership
 Strongly Disagree
 Disagree

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
 Neutral
 Agree
 Strongly Agree
Q9. The leaders are competent enough in resolving all the issues within the company
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q10. Rewards and recognition are given to the employees by the leaders when they reach their
goals
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q11. Employees have faith on their leaders
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Q12. Personal attention is given to the employees who require attention
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q13. The standards that have to be carried out are conveyed by the leaders
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Q14. The style and the perception of the leaders determine the development of the company
 Strongly Disagree
 Disagree
 Neutral
 Agree
 Strongly Agree
Interview Questions
Q1. Do you think the style of leadership has an influence on the performance of the companies?

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COMPARISON AND EFFECT OF LEADERSHIP IN SECURITIES
Q2. How does the communication skills of the leaders influence and motivate performance of the
employees?
Q3. Do you think the profit of the companies is influenced decision making process of the
leaders?
Q4. Do you think the tenure of completion of any task and goal for the companies is influenced
by the leadership style and quality?
Q5. Do you think leadership quality is able to mitigate the risks that are associated with the
performance of the companies?