• Management & Information Systems Review
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• v.33 no.4
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• pp.21-38
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• 2014

This study investigates whether and how a firm's cost of equity is influenced by the extent of a firms's name change. Even though corporate name change doesn't give any benefit to investors, it can be a signaling about firm's future valuation. And also, if that signaling has high credibility, it can be decrease information cost and the firm's cost of equity. on the contrary to this, if corporate name change is kind of break with the past and corporate image laundering, it is bad signaling to investors. So it can be increase information risk and the firm's cost of equity. Using yearly cross-sectional regressions of the cost of equity on our proxies for corporate name change, size, beta, market-to-book ratio and other innate risk factor over the 2005-2010, we find that the cost of capital is positively associated with corporate name change after controlling for all other factors. This result implies that corporate name change increase information risk of the business, and thus increase information asymmetries between managers and outside investors with respect to a firm's true future value. This increases information risk, and creates an adverse selection problem, on the part of outside investors. Rational investors therefore demand a premium for bearing this corporate name change-related information risk, which in turn leads us to observe a positive relation between the intensity of corporate name change and the cost of equity.

• Management & Information Systems Review
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• v.36 no.1
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• pp.291-307
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• 2017

This study analyzes the effects of global diversification level on discretion accruals and firm value. In order to verify the hypothesis of this study, the sample of securities companies was selected from 2012 to 2015, and the final sample is 2,139 firm-year. The results of this paper are as follows : First, discretionary accruals increased as the diversification level increased. We conducted an additional analysis as to whether the increase in information asymmetry due to international diversification affects discretionary accruals. As a result, the increase of information asymmetry due to international diversification increased discretionary accruals. This analysis is consistent with EI Mehdi and Seboui(2001)'s study. Second, we analyze the impact of international diversification on corporate value. In previous studies, there was no consistent conclusion about the relationship between international diversification and firm value(Christophe and Pfeiffer, 2002; Denis and Vost, 2002; Bodnar and Wenintrop, 1997; Bodnar et al., 2003). Therefore, this study hypothesizes that the increase in discretionary accruals, which have been driven by international diversification, will have an impact on firm value. Aa a result of the analysis, we found that the increase in discretionary accruals due to diversification declines the firm value. This means that the increase in discretionary accruals due to diversification is utilized as and opportunistic means by taking individual gain of managers.

• Review of KIISC
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• v.18 no.1
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• pp.41-48
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• 2008

최근 인터넷의 가용성을 위협하는 대형 침해사고는 줄어들고 있으나 스팸, 피싱, 금전적 이익을 위한 분산서비스거부공격 등 악성행위의 양상은 더욱 정교하고 교묘해지고 있다. 이러한 변화는 인터넷 이용에 수반되는 잠재적인 위협을 크게 증가시켰으며 악성행위자와 이에 대응하는 보안전문가 간의 비대칭성을 크게 증가시키고 있다. 네트워크 포렌식은 보호하고자 하는 자산에 대한 직접적인 위협과 잠재 위협을 정확히 산정 할 수 있는 수단을 제공하여 기존의 대응 방법에서 발생하는 비대칭성을 상쇄시킬 수 있는 수단을 제공해준다. 본 논문에서는 네트워크 포렌식의 동향과 기술에 대해 설명하고 이를 이용한 분석 사례를 통해 네트워크 포렌식의 효용을 설명하였다.

• Journal of KIISE:Information Networking
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• v.31 no.2
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• pp.179-187
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• 2004

Password authenticated key exchange protocols for the symmetric model are easier to design, analyze and are more efficient than ones for the asymmetric model, but they are most likely to be broken by server's compromise. Though the protocols with provable security for the asymmetric model such as PAK-X and SNAPI-X are introduced, they need large amount of computation compared with the standard Diffie-Hellman key exchange. We present a systematic and efficient way to transform password authenticated key exchange protocols for the symmetric model into protocols for the asymmetric model. Thus, an efficient protocol for the asymmetric model can be constructed by a systematic protocol with low computation.

• The Journal of the Korea Contents Association
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• v.15 no.7
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• pp.531-543
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• 2015

Benjamin, Lusht, and Shilling(1998) suggested that the level of deposit can be used as a tool to resolve the problem of adverse selection by the leaseholder under the circumstance of information asymmetry. In this respect, this research aims to verify how the level of deposit and monthly rent mitigate the problem of information asymmetry existing in the office market in Seoul. So far, the analysis of the office market in Seoul has been difficult due to the fixed rate of deposit and monthly rent. This research attempts to adopt the concept of occupancy cost, a global standard indicator that would replace the default risk of monthly payment for analyzing the market. As a result of a series of empirical analysis, the lessors tend to add about 9 percent of risk premium to the occupancy cost to hedge against the default risk of monthly payment. It allows for estimating at what extent one should reflect the leaseholder's default risk of monthly payment for operating deposit and monthly rent in the office building lease market.

• International Commerce and Information Review
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• v.18 no.4
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• pp.333-358
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• 2016

This study investigates the relative effect of symmetric and asymmetric relationship between franchiser and franchisee on the relational outcome of franchise alliance in education industry. To verify the research model, 240 samples, which is related with eduction service, were collected, among which 200 were used for the analysis. The outcome suggests that the asymmetric relationship in an alliance negatively influenced the relational quality, among which asymmetric alliance-specific investments had the most significant effect. On the other hand, the relational quality was positively influenced when the alliance relationship was symmetric, especially when the interactional fairness was high. Furthermore, compared to foreign franchise, local franchise presented higher level of role and responsibility imbalance, along with higher likihood of franchisees' opportunistic behaviors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.9-21
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• 2014

Source and use of investment money in the content business has been subject to closer attention, This study attempts to identify the information asymmetry problem in the performing art are, focusing on the Korean musical play. Despite the various discussions in the venture capital practice in the performing art area, there has been few studies analyzing the investors' perspective. While juggling with the 'artistic value' and 'rate of return', the investors are concerned about the 'transparency' of the performing art practice. When coupled with the subjective judgment of 'artistic value', the information asymmetry between the investor and the performing art manager becomes more delicate. In the performing art business, 'SPC(Special Purpose Company)' is considered a possible solution to organize the deal structure in this field. This study analyzes the role of SPC regarding the information asymmetry problem.

• Journal of KIISE:Databases
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• v.29 no.6
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• pp.477-491
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• 2002

The broadcast environment has asymmetric communication aspect that is typically much greater communication bandwidth available from server to clients than in the opposite direction. In addition, mobile computing systems generate mostly read-only transactions from mobile clients for retrieving different types of information such as stock data, traffic information and news updates. Since previous concurrency control protocols, however, do not consider such a particular characteristics, the performance degradation occurs when previous schemes are applied to the broadcast environment. In this paper, we propose optimistic concurrency control based on timestamp interval for broadcast environment. The following requirements are satisfied by adapting weak consistency that is the appropriate correctness criterion of read-only transactions: (1) the mutual consistency of data maintained by the server and read by clients (2) the currency of data read by clients. We also adopt the timestamp Interval protocol to check the weak consistency efficiently. As a result, we improved a performance by reducing unnecessary aborts and restarts of read-only transactions caused when global serializability was adopted.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2015.05a
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• pp.839-841
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• 2015

본 연구에서는 비대칭 이중게이트 MOSFET의 채널길이와 채널두께의 비에 따른 드레인 유도 장벽 감소 현상의 변화에 대하여 분석하고자한다. 드레인 전압이 소스 측 전위장벽에 영향을 미칠 정도로 단채널을 갖는 MOSFET에서 발생하는 중요한 이차효과인 드레인 유도 장벽 감소는 문턱전압의 이동 등 트랜지스터 특성에 심각한 영향을 미친다. 드레인 유도 장벽 감소현상을 분석하기 위하여 포아송방정식으로부터 급수형태의 전위분포를 유도하였으며 차단전류가 $10^{-7}A/m$일 경우 비대칭 이중게이트 MOSFET의 상단게이트 전압을 문턱전압으로 정의하였다. 비대칭 이중게이트 MOSFET는 단채널효과를 감소시키면서 채널길이 및 채널두께를 초소형화할 수 있는 장점이 있으므로 본 연구에서는 채널길이와 두께 비에 따라 드레인 유도 장벽 감소를 관찰하였다. 결과적으로 드레인 유도 장벽 감소 현상은 단채널에서 크게 나타났으며 하단게이트 전압, 상하단 게이트 산화막 두께 그리고 채널도핑 농도 등에 따라 큰 영향을 받고 있다는 것을 알 수 있었다.

• Journal of Korea Society of Industrial Information Systems
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• v.8 no.1
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• pp.92-96
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• 2003

본 논문에서는 비대칭 터보부호를 사용 무선 ATM환경에서 ATM셀을 전송할 때 비트 오류확률, 셀 손실확률을 대칭 터보부호와 비교하였다. 일반적으로 터보부호기는 동일한 재귀 컨벌루션코드(Resursive Systematic Convolution Code)로 구성된다. 비대칭 터보부호와 대칭적 터보부호를 비교하기 위한 생성다항식을 Primitive Polynomial과 Non-Primitive Polynomial 의 4가지 조합을 고려하여 시뮬레이션을 수행하였다. Feedback 다항식이 Primitive 다항식인 사용된 터보부호기가 Non-Primitive다항식이 사용된 터보부호기와 비교하여 1.2dB이상 성능 향상을 보였고, Primitive Polynomial과 Non-Primitive Polynomial이 같이 사용된 비대칭 터보부호기는 Non-Primitive Polynomial이 사용된 대칭 터보부호기와 비교하여 0.7dB 성능 향상을 보였다.