• The Korean Journal of Financial Management
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• v.11 no.2
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• pp.65-81
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• 1994

주식의 기대수익률과 체계적 위험과의 관계를 설명한 자본자산가격결정모형(CAPM)은 지난 30년간 많은 재무학자들에 의해 지속적으로 검증 받아 왔다. 물론, 자본시장의 효율성도 포함된 결합가설(結合假說)(joint hypothesis)의 검증이라는 어려운 점도 있으나, 일련의 연구는 기존에 발견된 주가이례(株價異例)현상을 설명하기 위해 새로운 위험 변수가 필요하다고 지적하였다. 이러한 방향으로의 연구 중 차별정보가설은 투자분석에 이용 가능한 정보의 양(量)이 위험측정의 불확실성을 결정하므로 주식의 수익률도 따라서 변하게 된다고 설명하고 있다. 본 연구는 기업의 다각화가 진행됨에 따라 각 사업단위의 회계정보 및 소속산업의 자료수집을 통한 정보의 양이 증가된다는 가정아래 차별정보가설을 실증 분석한다. 기업규모를 통제하여 구성한 포트폴리오 분석 방법은 다각화지 수가 낮은 기업이 체계적으로 높은 초과수익률을 갖는 것으로 나타났다. 이 분석결과는 차별정보가설이 예 상하는 바와 일치하는 결과로 해석될 수 있다. 그러나, 기업규모의 통제없이 구성한 다각화 포트폴리오의 분석결과와 개별기업 차원의 회귀분석 결과는 초과수익률과 기업의 다각화 정도가 선형 관계가 아닌 U자형의 관계에 있다는 것을 보여주고 있다.

• Industry Promotion Research
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• v.8 no.2
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• pp.11-19
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• 2023

The purpose of this study is to analyze the effect of economic uncertainty on business innovation. To this end, Ahir et al. (2018) World Uncertainty Index (WUI) is selected as a proxy for economic uncertainty, while total R&D investment (RD), capitalized R&D investment (RD_A), expensed R&D investment (RD_E), and the proportion of capitalized R&D investment to total R&D investment (RD_R) are selected as variables representing business innovation. The research findings showed that economic uncertainty (WUI) had a statistically significant positive (+) relationship with total research and development investment (RD), asset-based research and development investment (RD_A), and the proportion of asset-based research and development investment (RD_R). This relationship remained the same even after controlling for managerial opportunistic accounting behavior (DACC; discretionary accruals). These findings suggest that companies focus on research and development investment as an opportunity for management innovation even in the face of economic uncertainty. The results of this study are significant in demonstrating the validity and effectiveness of government support for industrial promotion under economic uncertainty.

• Journal of the Korea Convergence Society
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• v.8 no.11
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• pp.413-421
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• 2017

This study explored relationships between health perception and behavior of Korean relevant to particulate matter(PM) as PM in the atmosphere getting worse. To investigate the relationship in the personal hygiene dimension, we analysed the structural relationships among multi-dimensional health locus of control, perceived susceptibility and severity, and health behavior intention. Except internal among three tendencies of multi-dimensional health locus of control, chance and powerful other had an effect on perceived susceptibility and severity, respectively. Perceived susceptibility and severity also had a positive effect on the intention. Thus, to facilitate PM-related disease prevention, timely and reliable information should be supplied with the solution for lessening damage from PM, and then training for internalizing locus of control should be encouraged through eliminating fear and uncertainty. Finally, we discussed suggestions for future study.

• Journal of Distribution Research
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• v.8 no.1
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• pp.47-67
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• 2003

The purpose of this study is to investigate three issues. First, we investigated four control mechanisms that might increase the franchisee's perception of franchiser commitment: a franchiser's TSIs, relational norms, monitoring, and qualification programs. Second, we proposed that appropriateness and efficacy of these control mechanisms in fostering franchiser commitment might be changed over the relationship life cycle. Third, we examined how bureaucracy and levels of franchiser's commitment related to relationship satisfaction. Through empirical analysis, research results indicate that a franchiser's TSIs and relational norms are positively associated with the franchisee's perception of franchiser commitment. In detail, what increase franchisee's perception of franchiser commitment in short-term relationship are franchiser's TSIs but relational norms are more important in the long-term relationship. In addition, the results show that franchisee's perception of franchiser commitment, participation and formalization are positively related to relationship satisfaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.95-104
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• 2022

This study aims to find out the influence of the intolerance of uncertainty on entrepreneurial intention by focusing on the start-up support system awareness. While most of existing studies focused on the positive psychological variables and individual environmental characteristics influencing on the entrepreneurial intention, this study has taken a look at the influence of the intolerance of uncertainty as the psychological variable to the entrepreneurial intention to negatively act on the entrepreneurial intention. As a result of the analysis, the intolerance of uncertainty under the control of entrepreneurship and gender is shown to have the negative (-) influence on the entrepreneurial intention and has high level of recognition on the start-up support system perception, and the start-up support system perception is confirmed to have positive (+) influence on the entrepreneurial intention. And, it also indicates that, with respect to the influence of the intolerance of uncertainty on the entrepreneurial intention, the start-up support system perception has the partial medium effect. Following this result of the study, it provides following indications: First the existing studies on the entrepreneurial intention had not covered the intolerance of uncertainty but it is confirmed as the psychological variable with negative influence on the entrepreneurial intention. Second, it is feasible for the preliminary start-up businesses may turn the fear on start-up failure into positive entrepreneurial intention with the start-up support system perception as the leading vehicle. And, third, based on the result, the government should enhance the start-up support system perception even more by seeking ways of efficient publicity to enable more preliminary start-up businesses to participate in diverse start-up support policies. Lastly, it discusses the limitations of this study as well as proposal for ensuing study plans.

• Informatization Policy
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• v.29 no.2
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• pp.37-65
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• 2022

This article analyzes the relationship between the privacy attitudes of MyData users and the four dimensions of privacy cynicism (distrust, uncertainty, powerlessness, and resignation) as to privacy protection intentions through a structural equation model. It was examined that MyData user's internet skills had a statistically significant negative effect on 'resignation' among the privacy cynicism dimensions. Secondly, privacy risks have a positive effect on 'distrust' in MyData operators, 'uncertainty' in privacy control, and 'powerlessness' in terms of privacy cynicism. Thirdly, it was analyzed that privacy concerns have a positive effect on the privacy cynicism dimensions of 'distrust' and 'uncertainty', with 'resignation' showing a negative effect. Fourthly, it was found that only 'resignation' as a dimension of privacy cynicism showed a negative effect on privacy protection intention. Overall, MyData user's internet skills was analyzed as a variable that could alleviate privacy cynicism. Privacy risks are a variable that reinforces privacy cynicism, and privacy concerns reinforce privacy cynicism. In terms of privacy cynicism, 'resignation' offsets privacy concerns and lowers privacy protection intentions.

• Economic Analysis
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• v.26 no.3
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• pp.48-70
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• 2020

Using data from the Household Income and Expenditure Survey over the period 1994-2016, we estimate the coefficient of relative prudence in order to capture precautionary saving motive. To do this, we adopt a cohort approach, where we transform such microdata into sample cohort means. Together with initial income involving liquidity constraint, we estimate the relative prudence derived from the Euler equation. The two-stage least-squares (2SLS) between estimate of it obtained from the cohort panel data analysis is too small for the existence of precautionary saving motive, as in previous studies, while the 2SLS random effects estimate is so reasonable. Moreover, the liquidity-constrained cohorts tend to be more sensitive to uncertainty, relative to the unconstrained ones.

• The Journal of the Korea Contents Association
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• v.22 no.6
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• pp.596-605
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• 2022

This study aimed to introduce research on coerced debt victimization and interventions in the context of domestic violence. To achieve the aim, this study reviewed existing studies on coerced debt conducted in the US. This study discussed the followings: First, coerced debt was theorized by coerced control theory of domestic violence and control mechanisms of economic abuse and conceptualized as fraud and force. Second, the effects of coerced debt included credit damage, economic dependence, and barriers to housing, employment, and safety. Third, to intervene the victimization, service providers should endure uncertainty and its time consuming process of recovering, provide an intense and personalized advocacy, and overcome the problems of absence of policies to support the victims. Finally, service providers should have educations and training programs on the assessment and intervention skills of coerced debt acknowledging empowerment and safety of the victims as the most important.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1993.10a
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• pp.185-190
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• 1993

In this paper, we investigate the effect of production uncertainty - especially demand fluctuation and activity time variation, to production control policies. First, we examine three famous production control policies, namely, MRP, JIT, OPT, from shop floor control perspective and analyze the difference among them. Based on these, simulation studies are performed to draw out the effects of demand fluctuation which are classified into demand lumpiness and demand irregularity, and, the effects of activity time variation which are classified into standard time variation and non-standard time variation. Experimental investigation shows that, in terms of demand fluctuations, MRP is affected by demand lumpiness, but JIT by demand irregularity. And we also see that both MRP and JIT are influenced by standard time variation with respect to activity time variations.

• 월간 기계설비
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• s.53
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• pp.68-83
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• 1994

해외건설업의 경영은 지리적$\cdot$문화적 차이, 환경의 다양성, 통제불가능 변수의 존재 등 여러 가지의 불확실성 등으로 인해 국내에서의 건설업 경영보다 어려우며 그마만큼 현지화의 정착이 어렵다고 하겠다. 따라서 당해지역에 기진출 또는 진출하고자 하는 투자기업이 현지에서 국내 기업과 마찬가지로 하나의 기업으로 정착하여 현지에서의 경제적$\cdot$사회적$\cdot$정치적 변화에 능동적으로 대처하고 현지 사회와의 조화로운 성장을 도모할 수 있도록 하는 것이 현지화가 바라는 궁극적인 목적이 되겠다. 이에따라 우리 기업이 해외시장에 현지화를 도모하기 위해서는 현지의 관습, 문화 등을 충분히 숙지하고 거기에 알맞는 제반 경영관리 기법을 개발하는 등 국제 경영능력을 배양하지 않으면 안된다. 이것이 바로 현지화와 직결되는 과제라고 할수 있겠다. 이에 해외건설협회와 경제연구소에서는 해외건설진흥기금 지원사업의 일환으로 건설업 개별기업이 해외 현지화를 정착시키는데 일조가 되고자 $\ulcorner$해외건설의 현지화 정착 방안$\lrcorner$을 마련하였다. 이 내용을 본지에서는 발췌$\cdot$정리, 게재하여 해외 진출에 뜻이 있는 우리 설비업계에 도움을 주고자 한다.