• Management & Information Systems Review
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• v.37 no.2
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• pp.259-281
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• 2018

Advocates of mandatory IFRS adoption claim that IFRS increase financial statement comparability, which in turn leads to greater cross-border investment(Securities and Exchange Commision, 2008). The notion is that improved financial statement comparability reduces the information acquisition costs of global investors and thereby increase their investment in foreign firms. The purpose of this study is to examine this assertion by examining whether the K-IFRS adoption rusults in improved comparability that leads to increased investment by foreign investment. We also examined whether the relation between comparability and foreign investment has strengthen after adoption of K-IFRS. To achieve the purpose of our study, we measure Korean firms comparability using stock price model, stock return model and cash flow from operation model by Barth et al.(2012). We use both foreign ownership in the end of year and average during the year for dependent variables were to reduce bias. We test our hypothesis using 1,817 firm-year observation of KOSPI firms during the period of our analysis, 2011-2015. Consistent with our hypothesis, we find K-IFRS adoption results in a greater increase in foreign investment in firms with high comparability firms. This result indicate that the adoption of K-IFRS intends to achieve the international accounting convergence as stated in the roadmap and to reduce the Korea Discount.

• Journal of the military operations research society of Korea
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• v.34 no.2
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• pp.163-174
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• 2008

The military is an organization where reliability and availability take much more importance than in any other organization. And, in line with a recent trend of putting emphasis on 'system readiness', not only functions but also availability of a weapon system has become one of achievement targets. In this regard, the military keeps spares for important facility and equipment, which is called as Maintenance Float (M/F), in order to enhance reliability and availability in case of an unforeseen event. The military has calculated yearly M/F requirements based on the number of equipment and utilization rate. However, this method of calculation has failed to meet the intended targets of reliability and availability due to lack of consideration on the characteristics of equipment malfunctions and maintenance unit's capability. In this research, we present an analysis model that can be used to determine an optimal M/F inventory level based on queuing and absorbed Markov chain theories. And, we applied the new analysis model to come out with an optimal volume of K-1 tank M/F for the OO division, which serves as counterattack military unit. In our view, this research is valuable because, while using more tractable methodology compared to previous research, we present a new analysis model that can describe decision making process on M/F level more satisfactorily.

• Journal of Navigation and Port Research
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• v.45 no.3
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• pp.173-180
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• 2021

Although accounting is one of the core fields of corporate management, few studies have reported accounting phenomena involving shipping companies. In addition, although financial reporting is very important to shipping companies that use several financial tools such as ship finance and financial lease, it is difficult to identify studies investigating shipping companies' financial reporting, especially their earnings management. The purpose of this study is to analyze accrual earnings management behavior of shipping companies. Companies with high debt ratios and net losses are known to have incentives for earnings management. Due to the nature of the industry, shipping companies have a high debt ratio and often report net losses. Accordingly, shipping companies are expected to engage in substantial earnings management. Based on the analysis of KOSP I companies listed on the Korea Exchange from 2001 to 2020, it was found that shipping companies are engaged in higher levels of earnings management than non-shipping companies. Discretionary accrual was used as a proxy variable for earnings management. Discretionary accrual was measured using the modified Jones model of Dechow et al. (1995) and the performance matched model of Kothari et al.(2005). In this study, significant results were derived by comparatively analyzing the earnings management practices, which is one of the major accounting behaviors of shipping and non-shipping companies. Stakeholders such as external auditors, investors, financial institutions, analysts, and government authorities need to be aware of the earnings management behavior of listed shipping companies during their external audit, financial analysis, and supervision. Finally, listed shipping companies must conduct stricter accounting based on accounting principles.

• International Area Studies Review
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• v.20 no.1
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• pp.23-51
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• 2016

This study analyzed the expected economic effects of the Korea-GCC FTA and sought strategies for industrial cooperation. To see the economic effects of Korea-GCC FTA, we analysed the effect of the oil tariff reduction of economy by Vector Autoregression(VAR) model. The estimation results shows that following the abolishment of the tariff on crude oil imports, GDP, GNI and consumption are expected to grow by 0.212%, 0.389% and 0.238%, respectively. Meanwhile, investment, export and import are estimated to drop by 0.462%, 0.413% and 0.342%, respectively. As for prices, producer prices are to rise by 6.356%p, whereas consumer prices fall by 2.996%p. In short, the Korea-GCC FTA and resultant abolishment of the tariff on crude oil imports followed by the decline in crude oil prices will result in declining prices whilst macroeconomic indices, such as GDP, GNI and consumption, will increase exerting positive effects on domestic economic growth. Also, it is necessary to proactively respond to GCC member states' industrial diversification policies for FTA-based industrial cooperation to diversify the sources of crude oil and natural gas imports for further resource risk management.

• Knowledge Management Research
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• v.21 no.4
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• pp.287-300
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• 2020

We investigate empirically the impact of IT exploration & exploitation capability and operational capability upon organizational agility, especially small and medium sized firms in the logistics industry in South Korea. Based on literature on the bilateral relationship between organizational agility and IT capability, we follow the established research model and propose hypotheses. This work takes an empirical methodology to test the hypotheses: design survey questionnaires, collect data, test reliability and validity of data, and finally test the hypotheses. Our results based on the data collected in 2018 present that IT exploration & exploitation capability significantly increases operational capability, and operational capability increases organizational agility. We find our contribution in updating previous research findings with recent data and in expanding the domain of research more specifically into small and medium sized firms in logistics industry in South Korea. Practically our work suggests that managers and policy makers should consider both fostering newly emerging IT exploration and existing IT resource exploitation capability in order to enhance organizational agility of those small and medium sized firms in logistics industry.

• The Journal of the Korea Contents Association
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• v.21 no.1
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• pp.173-184
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• 2021

This paper aims to examine the effects of perceived social fairness and upward social mobility on the individual emotional depression. Specifically, this study investigates the conditions under which the effects are more or less pronounced for the sake of shedding more light on the relationship between social-cognitive and psychological factors. The key proposition of this study is that as one holds more favorable beliefs about the fairness of the society to which (s)he belong, (s)he would have more optimistic expectations for the possibility of his or her own upward social mobility. Moreover, the decrease of this expectation could exacerbate his or her emotional depression with the expectation that (s)he might not get what (s)he deserves despite his or her time and effort put into achieving such goals. This study also adds further boundary conditions to these effects, such that the decrease of emotional depression is more pronounced when (1)social capital and (2)economic resources are scarce (versus abundant). To test these predictions, this study used the survey data on a total of 8000 people collected by Gallup Korea at the request of the Korea Institute of Public Administration. The analyses provided support for the proposed model of the present study. These results should contribute to laying the theoretical foundation for the establishment of policies and research models on the enhancement of fairness and prevention of depression in the future.

• Korean Association of Arts Management
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• no.56
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• pp.5-38
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• 2020

This study begins with the question of how culture-based communities can form a community culture and become a community of sustainable development. Based on the concept of community, community development factors and stage of development, cultural activities, and policy implementation theory, policy execution analysis models suitable for culture-based community projects were derived. A qualitative case study method was adopted as a research method, and success stories of culture-based village communities were selected as the 'Gamgol Community' in Sadong, Ansan, 'Sangdong Community' in Daebu-dong, Ansan, and 'Grimae Village' in Sinse-dong, Andong. Through in-depth interviews, literature analysis, and direct observation, the research analysis used pattern matching, explanation, chronicle analysis, and case integration analysis methods presented by Yin (2009). As a result of the study, first, the characteristics of the policy implementation strategy were taking place in the process of step-by-step development. The main factors in the community development phase were the improvement of community consciousness through the emotional change of participants and the change of capacity within the community. Second, it was understood that cultural activities played a major role in strengthening community consciousness and community capacity, and could be understood as various creative activities. Based on the ecological approach study on culture-based community, this study derived the policy execution analysis model, analyzed the case of culture-based village community, presented the direction of development of community and presented practical implications.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.8
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• pp.115-126
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• 2018

The purpose of this study is to examine the effects of the factors that hinder innovation of SMEs on innovation activities of Korean firms. Many existing literature studies remain focused on factors that promote innovation activities. However, in order for companies to promote innovation, it is important to analyze the factors that hinder innovation as well as those that promote innovation. In this study, we analyzed the relationship between technological innovation inhibition factors and technological innovation performance of 4,075 SMEs in Korea using the Korea Institute of Science and Technology Policy statistical data. The research model and hypothesis test of this study consist of three stages. First, the reliability of the variables used was verified using exploratory factor analysis. Second, the proposed hypothesis was modeled using structural equation modeling. Finally, validity of the structural equation was verified using confirmatory factor analysis. As a result, the lack of need for innovation influenced innovation performance and the government support system mediated them. SMEs should establish technological innovation strategies to maximize the effect of technological innovation with limited resources, and government should make polices to promote innovation of SMEs. It's expected to be used in the case of establishing a support policy.

• Journal of Navigation and Port Research
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• v.42 no.6
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• pp.539-545
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• 2018

In recent years, research on shipping market forecasting with the employment of non-linear AI models has attracted significant interest. In previous studies, input variables were selected with reference to past papers or by relying on the intuitions of the researchers. This paper attempts to address this issue by applying the stepwise regression model and the random forest model to the Cape-size bulk carrier market. The Cape market was selected due to the simplicity of its supply and demand structure. The preliminary selection of the determinants resulted in 16 variables. In the next stage, 8 features from the stepwise regression model and 10 features from the random forest model were screened as important determinants. The chosen variables were used to test both models. Based on the analysis of the models, it was observed that the random forest model outperforms the stepwise regression model. This research is significant because it provides a scientific basis which can be used to find the determinants in shipping market forecasting, and utilize a machine-learning model in the process. The results of this research can be used to enhance the decisions of chartering desks by offering a guideline for market analysis.

• Journal of Ginseng Culture
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• v.5
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• pp.97-114
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• 2023

Despite numerous studies, research on ginseng in aspect of an economic and business perspective are insufficient. Recently, research to reveal the economic cause of ginseng products purchase is drawing attention. The purpose of this study is to analyze empirically the factors of ginseng products purchase by international consumers from a microeconomic perspective. Using the survey data, we empirically investigate the determinants of ginseng products purchase by international consumers visiting Korea. We use a multinomial logistic model to find the determinants that influence the purchase of ginseng products. This study finds the followings. First, the economic factor is an important determinant of ginseng products purchase. The average daily expenditure has a greater impact on ginseng products purchase than household income does. Even though the average daily expenditure is high, they tend to buy less ginseng products when they prefer other products. Second, demographically, gender and age are also important determinants of ginseng products purchase. It has been found that elderly male consumers are more likely to buy ginseng products. Third, international consumers for leisure purposes have a higher probability of buying ginseng products than tourism consumers for other purposes do. Finally, destination attributes such as security (safety), ease of use of mobile/Internet, and ease of finding directions are also important factors affecting ginseng products purchase. In addition, it is found that the convenience of using the mobile/Internet, the ease of finding directions, and the convenience of shopping increase the probability of buying ginseng products by international consumers. This study is meaningful in that it explored the determinants of ginseng products purchase by analyzing individual consumers' ginseng products choices.