• 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.

• The Korean Journal of Applied Statistics
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• v.20 no.1
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• pp.23-38
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• 2007

Corporations adopt a segmentation depends on the existence of target variables, in general. In this paper, for the case of no target variables, a strategy through segmentation is proposed for corporations having a special status based on the management index. In case of segmentation using cluster analysis, however, if one classify according to many variables then he will be in face of difficulties in characterizing. Therefore, after extracting representative factors by factor analysis, a segmentation method through 2 step cluster analysis is employed on the basis of these representative factors. As a result, six segmentation groups are found and the resulting strategy is proposed which strengthens prominent factors and makes up defective factors for each group.

• 지역과문화
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• v.8 no.4
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• pp.23-42
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• 2021

This article examines the legal measures to establish the financial independence of the Local Cultural Centers(LCCs) by the revision of Promotion of Local Cultural Centers Act(PLCC Act) to allow profit-making activities of LCCs. For the past 70 years, LCCs have been the core of local culture, but they have not been financially independent and have survived through government subsudues and support funds. Its weak financial structure that depends on the subsidies makes it difficult to carry out the essential business and threatens sustainability. Legally, LCCs are special corporations which established in accordance with the PLCC Act, and their legal status and functions are stipulated in accordance with the laws governing their establishment. The current PLCC Act does not stipulate that the LCC may conduct profit-making business other than the essential business. However, compare to the other special corporations which established by their own legislatives, it is understood that the PLCC Act can also provide regulations related to the profit business of LCCs. This article presents legal drafts for PLCC Act and suggests other necessary discussions for financial independence of LCCs.

• Journal of Navigation and Port Research
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• v.48 no.4
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• pp.321-326
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• 2024

The purpose of this study is to investigate whether Big 4 accounting firms contribute to the reduction of earnings management when auditing shipping companies. Generally, it is understood that companies audited by the Big 4 accounting firms engage in minimal earnings management and maintain high audit quality. However, these factors may vary depending on industry and firm size. As a result, this study empirically analyzes the impact of audits conducted by large accounting firms on earnings management within the shipping industry. The Big 4 accounting firms, namely PwC, KPMG, Deloitte, and EY, are the focus of this research. Discretionary accruals are employed as a proxy for earnings management, with the modified J ones model and the performance matched model used to measure discretionary accruals. The analysis, which covers shipping companies listed on KOSP I from 2001 to 2023, reveals that audits conducted by the Big 4 accounting firms do not significantly influence earnings management in the shipping industry. Unlike the general case, it is evident that audits by the Big 4 accounting firms do not play a role in reducing earnings management in shipping companies. This paper is significant as it examines the role of auditors within the shipping industry and presents findings that deviate from commonly known information. Shipping companies should take into consideration that the audit quality of the Big 4 accounting firms may not always be guaranteed when selecting an auditor. Furthermore, supervisory authorities such as the Financial Supervisory Service should engage in oversight based on an accurate understanding of the audit quality offered by the Big 4 accounting firms.

• Fire Science and Engineering
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• v.15 no.3
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• pp.21-35
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• 2001

By rearing private experts to design hazardous facilities, Safety property is obstained. So it is necessary to limit within the designer of hazardous materials facilities who has some degree skill. After permission progress about the inspection of the design ascertain whether it is safety property Mayor/Do governor permits within the laws and their qualification. Accordingly, Korea Fire Equipment Inspection Corporation be come specialization about the design, inspection of construction completion. A inquire purpose of Fire Service Act be considered fitness. Subject by which the Korea Fire Equipment Inspection Corporation is entrusted, subject by which the a non-probit corporation in The Civil Law be possible to entrusted in separate. In this case, because of the level of one's technique and facilities are important, to limit as a nonprobit corporation in The Civil Law give rise to trouble. Consequently; established a business corporation, which the level of one's technique and facilities, in accordance with The Commercial Law can assign inspection of construction completion. The contents of the Fire Services Act is caused by the historic growth of hazardous facilities's safety management. Because we decide on a course about completed inspection of hazardous substance, it is needed that adjust the task performed by a corporation of the exert skill and the duty performed by the task that a authorized corporation on the civil law or the commercial law To adjust the duty, the Fire Service Act, that is suitable to the purpose and principle, should constitute a measure of the duty. With the object of insure the safety of the hazardous substance, when the fire survice act establish a corporation of the expert skill. There is the will of lawmakers that need organization to have the power of the professional technology. The state excise the will that insure the safety of hazardous materials facilities on the basis of the professional technology and facilities, and construct to establish a corporation of the expert skill. Therefore as concentrate on the technology to need to insure the safety of the facilities of hazardous substance to be suitable on the purpose of laws and take responsibility and reports to a corporation of the expert skill. The task to be given to the state will be done.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.191-208
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• 2018

This paper focuses on the integration aspect of operators to determine an improvement strategy for the operating system to enhance competitiveness of Busan Port. This Study proposes the following alternatives: valuation standards for the integration of operators, the road map for the integration period, the scope and role setting of integrated operators' participation of Busan Port Authority(BPA), and the separation and linkage North Port and the New Port operators. First, the valuation standards for operator integration should be based on international standards. Additionally quantitative factors such as financial situation, business performance and participating companies' profitability, and the qualitative factors such as management ability, technology, and labor relations should be considered. Second, the timing of North Port's operator integration should be prioritized in the short term in conjunction with the commencement of its phase 2-4, 2-5, and 2-6. The integration of New Port operators should provide a road map for a relatively long-term perspective. Third, the participation of BPA' integrated operators should be considered in terms of publicity as a policy coordinator between terminals and by pursuing the profitability of entering into overseas business by fostering Korean global terminal operators. The scope and role of participation ensures that the experience and technology of the terminal operation business is maximized. Fourth, because physically intergrating the North Port' operator into a single corporate form is difficult, initially establishing a special purpose company to maximize the effect of the integrated operation is necessary. Then, the operators decided to convert to a holding company given the termination of the lease term contract with the State or BPA, and ultimately proposed a merger into a single corporation.

• Land and Housing Review
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• v.3 no.4
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• pp.369-378
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• 2012

In France, there are many forms of organizations based on the intercommunal solidarity for city development and management. The purpose of the collaboration among Communes is to achieve high quality and well-equipped service-delivery system through co-operation of public services needed grand finances : water supply and sewage system and waste disposal system etc. The cooperation among French Communes and its effects, even though these were owing to the existing French local administration system, continued throughout regional co-management and social co-development process. This study suggested some characteristics and implications of the collaborative-style French new-town development and management organizations focused on the EPA, SAN and CA. First, the role of developmental corporation like EPA and its collaborative structure of decision-making are meaningful, because in these ways many related Communes could share a goal of new town development. Second, the way of new town corporation (SAN) is important in the sense of enabling the Communes to collaborate with each others while maintaining autonomy, so those are not simply state-directed objects, which was very difficult in the former French local administration system. Finally, transforming to CA (Communautes d'agglomeration:city community), EPA as an intercommunal corporation is possible to extend its purpose to the domain of regional planning including new town and periphery areas and change its position to a subject which can practice Commune's sustainable development according to stages of city's development and maturity. The most important implication of this study on urban development in Korea is that administrative consultative council or association among local governments and related authorities need to be established and effectively operate because multi-stakeholders could share a goal of urban development and management through that.

• Korean Security Journal
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• no.51
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• pp.103-124
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• 2017

The purpose of this study is to analyze regional clusters and discrimination on size and sector of private security in national 16 areas in 2015. The results of the study using hierarchical cluster analysis and discriminant analysis are as follows. First, we can classify national 16 areas into 3 clusters, such as Large Area(1), Medium Area(2), and Small Area(3) according to the size of private security. The discriminant functions D for each cluster is as follows: (1) Large Area(1) = -383.981 + (.108 ${\times}$ number of security companies) + (.016 ${\times}$ number of guards), (2) Medium Area(2) = -35.570 + (.029 ${\times}$ number of security companies) + (.005 ${\times}$ number of guards), and (3) Small Area(3) = -5.381 + (.012 ${\times}$ number of security companies) + (.002 ${\times}$ number of guards). Second, we can classify national 16 areas into 3 clusters, such as Large Area(1), Medium Area(2), and Small Area(3) according to the sector of private security. The discriminant function D for each cluster is as follows: (1) Large Area(1) = -2224.402 + (-.562 ${\times}$ facilities security) + (1.245 ${\times}$ protection security) + (171.142 ${\times}$ convoy security) + (-2.722 ${\times}$ electronic security) + (2.020 ${\times}$ special security), (2) Medium Area(2) = -4.762 + (.052 ${\times}$ facilities security) + (.063 ${\times}$ protection security) + (-3.819 ${\times}$ convoy security) + (.110 ${\times}$ electronic security) + (-.165 ${\times}$ special security), and (3) Small Area(3) = -125.742 + (-.009 ${\times}$ facilities security) + (.432 ${\times}$ protection security) + (5.748 ${\times}$ convoy security) + (5.530 ${\times}$ electronic security) + (-.901 ${\times}$ special security).

• Korean Business Review
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• v.17
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• pp.153-183
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• 2004

The Gaisong Merchants can be regarded to playa pioneering role to activate the Korea's trade with foreign countries. In the early period of Yi-Dynasty, the Gaisong Merchants focused on personal trade, but in the middle period of Yi-Dynasty, they entered to the realm of governmental trade. Furthermore, their business activities widened to various forms of trades, for example, smuggling. Utilizing accumulated capital, Gaisong merchants expanded their trading activities to their neighboring countries such as Japan and China. In recent times, it is necessary for modem Korean companies to diversify risks through the establishment of corporations for production, marketing and R&D abroad or through joint venture, M&A and strategic alliance with foreign companies in order to reduce the risks originated from volatile economic and political situations. In this study, we utilize tools of comparative study to compare Gaisong Merchants' foreign trade strategies with those of modem companies such as AMOREPACIFIC, HANILCEMENT and SHINDORICO. The purpose of the paper is to test the hypothesis that modem Korean companies grew up by following the cases of Gaisong Merchants' business activities. We summarize our main findings as follows. First, both Gaisong Merchants and modem Korean companies have common functional core capability in the field of marketing, manufacturing technology, R&D, and human resources development. Second, both Gaisong Merchants and modem Korean companies have common organizational core capability. Third, both Gaisong Merchants and modem Korean companies have common infrastructures such as planning, finance, accounting and MIS. It constitutes the infrastructure of Korea's foreign trade sector. Fourth, both Gaisong Merchants and modem companies have common organizational culture in the field of management policy and philosophy. Actually, those factors are evaluated to be driving forces of Koera's success in foreign trade. In conclusion, the business activities of Gaisong Merchants who represented the peculiarity of Korean business spirit are partially inherited to current Korean business management. The value system and behavior pattern of modern Korean companies is succeeded from the spirit of Gaisong Merchants and it playa major role to specify the identity of Korean business administration.