• Korea Science and Art Forum
• /
• v.27
• /
• pp.231-246
• /
• 2017

The purpose of this study is to examine effects of sustainability of convention events on brand equity and customer loyalty. This paper also explores the mediating role of brand equity amid sustainability of convention events and customer loyalty. The four determinants ofsustainability of convention events examined in this study are economic sustainability, environmental sustainability, social sustainability and event sustainability. Brand equity refers to performance, social image, value, trust worthiness, and attachment. The findings are as follows: (1)most sustainability of convention events have a positive effect on each brand equity's elements; (2)all sustainability of convention events have a positive effect on loyalty; (3)brand equity of convention is significantly related to customer loyalty. (4)brand equity plays a mediating role between sustainability of convention and customer loyalty. The findings will not only be useful in improving the structure of sustainability of convention events, but also in enhancing competitiveness in Korea's convention industry.

• The Korean Journal of Financial Management
• /
• v.25 no.2
• /
• pp.103-135
• /
• 2008

We test the hypothesis whether foreign direct investments(hereafter "FDI") can affect the changes of the firm value. In this study, we use a newly developed event study technique, referred to as value-based event study approach(hereafter "VESA"), which is based on the seminal papers of M&M(1958, 1961, 1963) and Lee(2006, 2007). The empirical findings about the effects of FDI's on the intrinsic firm values, which can be measured by intrinsic Q(hereafter "IQ") values of the VESA, are as follows; First, the FDI's are carried out by healthy firms in terms of high IQ's. The IQ values become higher during the post-FDI period than prior to performing FDI's. Second, among the four components of IQ values, the value of assets-in-place, the value of intangible assets, and the value of growth opportunities are all increased during the post-FDI period, except the value of current earnings. Third, the same results are observed in all the samples classified by industry. In sum, thanks to the above findings in this study, we can conclude that the announcements of the FDI's are good and reliable indicators for the firm to signal to the market that the FDI firms are healthy in intrinsic firm values, and also that they have good chances to increase their firm values through the new investments abroad.

• Journal of Internet Computing and Services
• /
• v.15 no.6
• /
• pp.15-26
• /
• 2014

This study focus on a economic value of the Big Data technologies by real options model using big data technology company's stock price to determine the price of the economic value of incremental assessed value. For estimating stochastic process of company's stock price by big data technology to extract the incremental shares, Generalized Moments Method (GMM) are used. Option value for Black-Scholes partial differential equation was derived, in which finite difference numerical methods to obtain the Big Data technology was introduced to estimate the economic value. As a result, a option value of big data technology investment is 38.5 billion under assumption which investment cost is 50 million won and time value is a about 1 million, respectively. Thus, introduction of big data technology to create a substantial effect on corporate profits, is valuable and there are an effects on the additional time value. Sensitivity analysis of lower underlying asset value appear decreased options value and the lower investment cost showed increased options value. A volatility are not sensitive on the option value due to the big data technological characteristics which are low stock volatility and introduction periods.

• Journal of Korea Technology Innovation Society
• /
• v.15 no.3
• /
• pp.500-532
• /
• 2012

This study analyzed the technology innovation strategies of knowledge-based companies in the semiconductor IP industry. The theoretical approaches of this study are to i) the creation, protection and utilization of knowledge and innovation, ii) value creation from innovation, iii) modularity, timing of market entry, and the emergence and competition of standard (dominant design). Based on the theoretical analysis, I presented exploratory research hypotheses. Ultimately, this study examined the proposed hypotheses by conducting case studies on the technology innovation strategy of two leading knowledge-based companies in the semiconductor IP industry: ARM and INTEL. First, knowledge-based companies entering in the early stage of the technology cycle select the vertically-integrated technology strategy because of lower access to complementary knowledge assets, and maintain the vertically-integrated technology strategy despite the environmental change-driven differentiation of industry's value chain. Second, knowledge-based companies entering in the later stage of the technology cycle prefer the contract-based technology strategy because of its increased accessibility to complementary knowledge assets, and choose a different path of innovation strategies depending on whether their asset has the feature of discontinuity or not.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.11
• /
• pp.191-204
• /
• 2018

In the era of diversity and creativity, autonomous regional regeneration is being emphasized. Local regeneration effects through local heritage utilization and the value of regional properties are rising. It is very meaningful to find a way to revitalize the urban regeneration system that can transform the facilities, spaces and industries in underdeveloped regions into opportune properties. This study explores the possibility of self-sustaining development by establishing an endogenous self-reliance system through the localization of industrial heritage. Competitive advantage strategies of regional properties are more important than regional comparative advantages. In the future, more attention should be paid to the intangible value of the city. A genuine city revival should be created as a place with cultural identity through artistic ecology, tradition, community, and aesthetics centering on people.

• The Journal of the Institute of Internet, Broadcasting and Communication
• /
• v.18 no.5
• /
• pp.39-54
• /
• 2018

This study aims to expand K-Wave business. For this, it firstly investigated previous studies and pointed out limitations of the current scope of the K-Wave business. Therefore, as a theoretical background, it attempts to construct an analysis framework based on four types of creativity type model and to redefine the concept of K-Wave business, which refers to a series of business activities that create, utilize the asset, and reuse the originality of intellectual property assets. This study analyzes the business activities of K-Wave's asset creation, utilization, and talent linkage during 2013~2017. The scope of the asset creation covers the highest ranked movies, dramas, and K-pops, while the utilization of those is analyzed in cosmetics, food, and fashion industries. The personal talent is the source of new K-Wave value creation and Webtoon IP is analyzed. As a result, in the case of movies and dramas, the representative market is China, which is the result of the efforts to avoid the continuation of China's regulation and the development of local OTTs. It is confirmed that the product development for Chinese consumers is active as activities of K-Wave utilization in cosmetics, food and fashion. Interesting is that new K-Wave content is circulated in the beauty sector. Finally, it is confirmed that Webtoon IP, which has been structured with a solid story in individual talent, is the origin of new K-Wave asset creation such as movies and dramas.

• Korean Business Review
• /
• v.11
• /
• pp.195-216
• /
• 1998

Ownership of an asset can be identified with the right to exercise "residual control" where the contract is silent about decision rights, or with the right to receive any "residual returns" that remain after contractual. obligations are fulfilled. Although the concept of "ownership" seems reasonably clear in many of the cases, the concepts of residual control and the residual returns that define ownership are actually quite elusive. For large corporations, there is really no single individual who owns both the residual returns and the residual control. Despite the limited qualifications, ownership is clearly. the most common and effective meas to motivate people to create, maintain, and improve the value of assets. In this paper, we try to clarify the relationships among financial structure, ownership, and corporate control with the concept of ownership defined as the residual control and the residual returns, Financial securities are not just claims to part of a firm's net income. They give the security holder certain rights. A careful matching of rights of control and returns can create incentives that increase total value of the firms. In the corporate firms, managers, lenders, and shareholders have different interests. And the financial structure affects how different those interests are and what decisions management will make. Managers are, in general, better informed than investors about the firm's prospects. The financial decisions by managers may affect investors' beliefs and, therefore, the price of shares and the value of the firm.

• The Journal of the Korea Contents Association
• /
• v.18 no.5
• /
• pp.647-659
• /
• 2018

'Waiting for a Thousand Years & Mingling with World People-Gangneung Danoje Festival 2017 as an Important Intangible Cultural Property' is the festival with the longest history in Korea. In spite of its historical value, however, there are not many academic researches on the value of festival brand equity. Thus, the objective of this study is to empirically analyze the influence relationship between selection attributes of festival storytelling, brand equity, brand attitude, and brand loyalty through the structural equation model. Regarding the spatial scope of thesis material, a survey was conducted focusing on 657 tourists visiting the Gangneung Danoje Festival. In the results of verifying the hypotheses in accordance with the structural equation model, the selection attributes of festival storytelling had effects on the brand equity, and the brand equity had effects on the brand attitude and brand loyalty while the brand attitude had effects on the brand loyalty. Based on such results of this study, the implications could be suggested as follows. First, the local contents culture should be developed together with local experts and residents by finding its local custom. Second, the brand equity that could prioritize the strategy of characteristics should be increased by emphasizing the selection attributes of storytelling. Third, the phased development should be achieved through local residents' open participation by dividing roles of experts and non-experts as festival manpower.

• Journal of Agricultural Extension & Community Development
• /
• v.21 no.3
• /
• pp.215-241
• /
• 2014

As brand has increasingly influenced on marketing activities, local government, agricultural enterprises, and individual farmhouses autonomously develop and promote their own brands in the field of agrifood. Among developed brands, however, it could be possible for products with having no competitiveness and continuous control to lapse in the marketing. This study aimed to try develop to brand equity model in order for agri-food brands to evaluate and complement in the agricultural company. For doing this, ERRC were administered to interview the brands experts to discuss rice. The results of the analyses indicated that the areas with attribute weight of assets may consider bonding with customers for enhancing the value in the brand equity.

• Korean Journal of Construction Engineering and Management
• /
• v.19 no.4
• /
• pp.12-20
• /
• 2018

As facilities have become larger, more complex, and advanced, the importance of the facility management in the operation phase of the building is increasing. As a result, the scope of the facility management function is expanding, and the requirements of information are ever-increasing. However, inefficient exchange of information occurs due to duplicated tasks and lack of collaboration among the construction life cycle phases, resulting in cost loss. These low interoperability issues can be complemented by construction information management from a life cycle perspective. Efficient construction information management at each life-cycle stage is derived from the owner's will and is materialized through the construction information handover requirements by the owner. The purpose of this study is to develop an evaluation method of construction information handover requirements for facility management. In order to develop the method, facility management types and business functions are also classified and defined in this paper. Using the methodology proposed by this study, a case-study of evaluating the 'takeover items' submitted by contractors was performed for the purpose of research validation. The results of the case-study found that the most effective areas are in the order of 'legal informations', 'drawings', 'guides', etc. This study can be used as a reference data for deriving handover requirements for construction information at the early stage of the project.