• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.417-425
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• 2020

In this paper, value relevance of the level of dependence on separate accounts in non-life-insurance companies is studied. As noted by Shim et al. (2015), the separate accounts of insurance companies consist of contracts with different attributes from the general accounts, so it is likely that firm value will vary depending on the insurer's dependence on the separate accounts. Thus, in this paper, an empirical analysis has been conducted using quarterly financial data and stock price data from domestic listed non-life-insurance companies from 2011 to 2018. The analysis shows that variables representing the level of dependence on separate accounts have a significant negative relevance to firm value. These results may suggest that changes in the proportion of a non-life-insurer's separate accounts may result in a change to its firm value under the same net assets and net income scales in aggregate accounts. This study provides management implications for the operation of separate accounts from the perspective of maximizing firm value. In addition, this study suggests that disclosure system improvement would be necessary to more directly report the operational performance of the separate accounts.

• Economic and Environmental Geology
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• v.46 no.1
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• pp.85-91
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• 2013

OECD(2008) gives the concepts of inaction costs on key environmental challenges including: direct financial costs; total financial costs; total use costs; and total social welfare costs. In analyzing the losses of environmental goods' various values conducted by domestic and foreign researchers, this study suggests the value-cost category of OECD(2008) and other studies; and the indirect use and non-use values of groundwater and other natural environment using the concepts of inaction costs. The studies on the damages and their relationships among human, property, and ecosystem are essential to monetary valuation on the qualitative or quantitative degradation of groundwater and other natural environment.

• 한국경영정보학회:학술대회논문집
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• 2007.11a
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• pp.475-480
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• 2007

본 연구에서는 디지털 콘텐츠의 가치를 체계적으로 평가할 수 있는 시스템의 프로토타입을 개발하였다. 개발된 가치 평가 시스템에서는 디지털 콘텐츠의 가치를 기획 단계, 개발 단계, 사업화 단계로 나누어서 평가할 수 있을 뿐만 아니라 디지털 콘텐츠를 사업화하는 과정에서 부딪히는 불확실성을 세 가지 시나리오로 나누어서 평가할 수 있다. 이를 통해서 디지털 콘텐츠의 가치를 객관적으로, 체계적으로, 동태적으로 평가할 수 있을 뿐만 아니라 디지털 콘텐츠의 기획, 개발, 사업화에 관련되어 있는 구성원들의 이견을 조정할 수 있다. 또한 이 같은 평가 시스템을 활용함으로써 디지털 콘텐츠를 사업화하는 과정에서 발생할 수 있는 위험을 관리할 수 있기 때문에 합리적인 투자 의사결정을 수행할 수 있다.

• Proceedings of the Korea Water Resources Association Conference
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• 2012.05a
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• pp.784-784
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• 2012

수자원사업에 의해 공급되는 공업용수는 대상 사업체에서 노동, 자본, 토지 등과 더불어 필수적인 투입재이다. 이러한 투입재의 안정적인 확보는 해당 산업이 부가가치를 창출하는데 매우 중요한 사안이다. 공업용수의 공급이 중단될 시 해당 산업에서의 피해액은 동일한 공급량 기준으로 봤을 때, 생활용수나 농업용수에 비해 매우 크다고 알려져 있다. 이러한 공업용수 공급의 가치를 확인하고자 본 연구는 산업단지를 대상으로 공급되는 공업용수의 한계생산가치를 생산함수 접근법을 기반으로 추정하였다. 자료의 불확실성을 고려하기 위하여 통계적 기법을 기초로 한 4가지 기준으로의 데이터 정제를 실시하여 각각에 대한 공업용수의 한계생산가치를 추정하였고, 각각의 결과로부터 최소, 최대의 범위로 제시하였다. 본 연구에서 확인한 공업용수 공급의 가치는 향후 수자원사업 시 비용배분, 용수배분, 사업의 경제적 타당성 유무 등과 관련한 의사결정의 문제에서 합리적인 기준을 제공할 수 있을 것으로 기대된다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.5
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• pp.226-236
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• 2017

This study was conducted to investigate the relationship between contingencies of self-worth(superiority and others' approval), college adjustment and expectancy for future success and the mediating role of cognitive flexibility in these relationships. For this study, data from 460 college students were analyzed. The results were as follows. Contingencies of self-worth(superiority) were positively associated with college adjustment and expectancy for future success, while contingencies of self-worth(others' approval) were negatively associated with college adjustment and expectancy for future success. Second, the results of structural equation modeling indicated that cognitive flexibility fully mediated the relationship of contingencies of self-worth (superiority and others' approval) with college adjustment and expectancy for future success. Third, even the contingencies of self-worth(other's approval) were negatively associated with cognitive flexibility, and if the latter was high, it influenced college adjustment and expectancy for future success. Finally, the meanings and limitations of this research and implicationsfor counseling strategies and interventions were discussed in detail.

• Korean Journal of Cognitive Science
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• v.18 no.3
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• pp.245-254
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• 2007

It is an orthodox in epistemology that only those things that affect the truth conduciveness of a belief are relevant to the epistemic rationality of the belief. I criticize this orthodox. In this paper, 1 claim that the epistemic worth of a subject affects the epistemic rationality of inquiries and resulting beliefs. More specifically, I argue that it is epistemically irrational to conduct an inquiry when it is about something unworthy of knowing, and that the epistemic irrationality of an inquiry in this sense makes the resulting beliefs epistemically irrational. After presenting my argument, I defend it from various possible criticisms. Then I explicate the implications of my argument that opposes the core assumptions of contemporary epistemology.

• Management & Information Systems Review
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• v.33 no.3
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• pp.167-187
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• 2014

While Korean GAAP had detailed regulations for the measurement and disclosure of operating income in the past, K-IFRS did not provide specific rules for operating income until 2011. Some firms that adopted K-IFRS before 2011 did not disclose or calculated operating income in an inconsistent manner although operating income is usually considered as one of the core information items to assess firm valuation. Inconsistency in firms' treatment of operating income invoked much criticism from diverse users of financial statement. The Korean Accounting Institute (KAI hereafter) revised the K-IFRS rules relevant to operating income in September 2010 in response to the voices raised by the business community, whereby the operating income number is allowed to be calculated in conformity with the previous K-GAAP. This study was motivated by the revision of K-IFRS and aims to provide a clue on the validity of such policy decision. To achieve the research objective, we test the relative value relevance of the alternative operating income numbers under K-IFRS versus K-GAAP. Our main findings are as follows. The value relevance of operating income reported before K-IFRS is proved to be higher than after K-IFRS. K-IFRS operating income adjusted to the previous K-GAAP has greater explanatory power for market values relative to one calculated under the K-IFRS regime. In an additional analysis, the sample was decomposed according to whether the operating income under K-IFRS is greater than under K-GAAP. The difference in the value relevance of K-IFRS versus K-GAAP operating income is significant only in the subsample consisting of firms which reports higher operating income under K-IFRS compared to K-GAAP. Also, the firms which would have reported negative operating income on a consecutive basis are more likely to have chosen K-IFRS, resulting in higher numbers than otherwise. It is likely that firms facing the threat of delisting due to consecutive operating loss reporting are more likely to have adopted K-IFRS disclosure rules by which they could report higher operating income numbers. To sum up, these results corroborate the limitation inherent in the K-IFRS regarding operating income disclosures. This paper suggests that the recent revision of K-IFRS implemented by KAI is likely to mitigate some of afore-mentioned limitations effectively.

• The Journal of Society for e-Business Studies
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• v.18 no.4
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• pp.273-299
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• 2013

This study attempts to identify user perceived value as a major predictor of the usage of smartphone-based mobile commerce(m-commerce). More specifically, the study conceptualizes user perceived value of smartphone-based m-commerce along three dimensions, such as temporal, functional, and economic values. Moreover, this study proposes service ubiquity and user control that are uniquely defining characteristics of smartphone-based m-commerce and examines how the two variables are associated with the creation of user perceived value. Using a total of 164 data collected on users of smartphone-based mcommerce, we conducted PLS analysis to test the proposed model and hypotheses. The key findings are as follows : First, it has been found that the usage of smartphone-based m-commerce is determined by the three values, such as temporal, functional, and economic values. Particularly, the results show that temporal value is the most influential variable in predicting m-commerce use. Second, the results demonstrate that service ubiquity has a significant positive effect on temporal value, whereas it has no effect on functional value. Finally, user control is positively associated with temporal and functional values. Overall, the results indicate that service ubiquity and user control considerably increase temporal value, thereby accelerating the use of smartphone-based m-commerce. Discussions and implications of the results are provided.

• Journal of the Korea Society of Computer and Information
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• v.13 no.4
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• pp.241-253
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• 2008

UCC(User Created Content) has brought about much change in the way Internet users produce, publish, and share digital content. That means that Internet users are participating in the UCC service much mure voluntarily, and interacting each other mure proactively to meet their social-psychological needs such as self-expression, social presence and so on. Also, there has been the sharp increase in variety and volume of digital content on Internet. The reasons why are that UCC enables Internet users to produce and publish their own content with much low cost, and lowers the entrance barriers to the digital content market. Like this, UCC causes the unbundling of the value chain of digital content, resulting in the high uncertainty and complexity, and then leading to the low healthiness of UCC value chain in terms of productivity, robustness, niche creation, and safety. Thus, this paper is to identify the status and problems of UCC value chain and present the way how to enhance the healthiness of UCC value chain more comprehensively and systematically.

• Journal of the Korean Society of Food Science and Nutrition
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• v.37 no.11
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• pp.1435-1442
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• 2008

The purpose of this study was to identify the influence of consumption value on healthy functional food choice. Also, this study explored the role of health motivation, health concern, and food involvement as a moderating variable in the relationship between consumption value and healthy functional food choice. A total of 281 responses were collected using on-site survey (response rate 96.0%) from college students in Daegu, Gyeoungbuk Province. The questionnaire contained questions on consumption value, health motivation, health concern, food involvement, and purchasing intention of healthy functional food. The respondents rated the items using a 5-point scale from 1 (strongly disagree) to 5 (strongly agree). According to the confirmatory factor analysis, item evaluating using factor loading resulted in the retention of 25 consumption value items loading on seven factors, four health motivation items loading one factor, six health concern items loading on one factor, and four food involvement items loading on one factor with an internal consistency. Results of stepwise regression found that social value-I, emotional, functional, epistemic, and conditional values among consumption value determined the purchasing intention of healthy functional food. Results of hierarchical regression showed that health concern had a positive effect on the relationship between social value-I and purchasing intention of healthy functional food.