• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.5
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• pp.1-13
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• 2016

This study aims to observe the impacts of entrepreneurship and market orientation of Seoul's business incubator (BI) CEO's on business performance, as well as investigate the moderating effects of BI supporting services. The main objectives of this study are as follows: first, to observe how the entrepreneurship of CEO's affects business performance; second, to observe how CEO's market orientation as a cultural factor attributes to business performance; third, to verify whether the utilization level of BI supporting services shows moderating effects between entrepreneurship and business performance, and finally to verify whether the utilization level of BI supporting services shows moderating effects between market orientation and business performance. Business incubators in Seoul registered with the Business Incubator Association were surveyed both online and offline to receive 127 responses out of 320 circulations. By filtering out insincere reponses, 117 were used for statistical analysis. Our results assert that the utilization level of physical BI supporting services does indeed strengthen the relation between initiative and financial performance. Also, it is interesting to note that the utilization level of physical BI supporting services supports the relation between risk sensitivity and financial performance. While risk sensitivity on its own shows no positive effect on business performance, a suitable utilization level of BI supporting services is likely to strengthen the connection. In addition, the utilization level of both physical and non-physical supporting services shows a moderating effect between initiative and non-financial performance. Based on the results above, risk-taking business incubator CEOs with initiative are likely to yield better financial performance in terms of increasing sales, if provided with various physical supporting services such as sufficient educational facilities including communal spaces and conference rooms.

• Journal of KIISE:Software and Applications
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• v.32 no.11
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• pp.1021-1028
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• 2005

The general solution for classification and regression problems can be found by matching and modifying matrices with the information in real world and then these matrices are teaming in neural networks. This paper treats primary space as a real world, and dual space that Primary space matches matrices using kernel. In practical study, there are two kinds of problems, complete system which can get an answer using inverse matrix and ill-posed system or singular system which cannot get an answer directly from inverse of the given matrix. Further more the problems are often given by the latter condition; therefore, it is necessary to find regularization parameter to change ill-posed or singular problems into complete system. This paper compares each performance under both classification and regression problems among GCV, L-Curve, which are well known for getting regularization parameter, and kernel methods. Both GCV and L-Curve have excellent performance to get regularization parameters, and the performances are similar although they show little bit different results from the different condition of problems. However, these methods are two-step solution because both have to calculate the regularization parameters to solve given problems, and then those problems can be applied to other solving methods. Compared with UV and L-Curve, kernel methods are one-step solution which is simultaneously teaming a regularization parameter within the teaming process of pattern weights. This paper also suggests dynamic momentum which is leaning under the limited proportional condition between learning epoch and the performance of given problems to increase performance and precision for regularization. Finally, this paper shows the results that suggested solution can get better or equivalent results compared with GCV and L-Curve through the experiments using Iris data which are used to consider standard data in classification, Gaussian data which are typical data for singular system, and Shaw data which is an one-dimension image restoration problems.

• Korean Business Review
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• v.11
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• pp.241-253
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• 1998

One form of the anomalies of stock price changes as reaction to earnings information is believed to be caused by the so-called earnings fixation, which is the overreaction of stock prices to earnings. According to the Sloan (1996) study, stock price changes are positively associated with earnings at the time of earnings releases, but the association becomes negative after that, as the early overreaction is corrected. However, the problem in his study is to use cash flows computed by adjusting earnings with appropriate income statement and balance sheet items. As Bahnson et al. (1996) show, these cash flows substantially deviate from SFAS No. 95 cash flows and the sample used in this study is found to be subject to this substantial measurement error. Therefore, the result of Sloan might be driven by this error and the reexamination of earnings fixation is warranted. The results are generally consistent with those in Sloan. First, earnings is positively associated with stock price changes at the time of earnings releases, but the association becomes negative after that. Second, cash flows show a weak association with stock price changes at the time of earnings releases, but the association become stronger thereafter. Third, when seperated from cash flows, accruals have an incremental explanation about stock price changes beyond that of cash flows, accruals have a negative association later on. This finding is consistent with stock price overreaction to accruals, even when more cleaner cash flow data are used.

• Management & Information Systems Review
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• v.36 no.3
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• pp.151-165
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• 2017

This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

• Journal of the Korean Society of Food Science and Nutrition
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• v.42 no.5
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• pp.808-817
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• 2013

This study was conducted to compare job satisfaction and factors related to job satisfaction between permanently and temporarily employed dietitians in school foodservices in the Gyeongsangnam-do area. A total of 204 questionnaires were used in the final analysis. The average age, length of employment, and monthly wage of temporarily employed dietitians was significantly lower than those of permanently employed dietitians. However, there was no significant difference of overall job satisfaction between permanently and temporarily employed dietitians, although the average pay, welfare benefits, and promotion factors for permanently employed dietitians was significantly higher. Work and pay factors had significant effects on the overall job satisfaction of permanently employed dietitians, while work factors and work atmosphere had significant effects on the overall job satisfaction of temporarily employed dietitians. In conclusion, there was a significant difference in overall factors related to job satisfaction between permanently employed dietitian and temporarily employed dietitians. The pay, welfare benefits, and promotion condition of temporarily employed dietitians should be improved to ensure the efficient management of the school foodservice workforce in the future.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.7
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• pp.3062-3071
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• 2011

This study proposed to compare the performance differences between a manufacturing company and a construction company in accordance with the mutual relations and ownership structures with the management performance based on the increase or decrease of the large shareholders' share-holding ratio (insider ownership, foreign share-holding, institutional investors' share-holding) of a KOSPI listed company in Korea during 10 years(1998-2007). To sum up the research work, first, the increase of foreign share-holding supported the results of previous studies which foreign share-holding has a positive effect on the long term performance by having a positive(+) effect on MTB, and the increase of an insider ownership supported the management entrenchment hypothesis of previous studies by having a negative(-) effect on MTB. However, relations between institutional investors's share-holding and MTB could not find out linkages in spite of the results of previous studies where dealt with the active monitoring hypothesis. Also, to examine the linkages of ROA and the ownership structure, though the increases of foreign share-holding and insider ownership had a positive(+) effect on ROA, the increases of institutional investors' share-holding had a negative(-) effect on it. It showed different analysis results from the active monitoring hypothesis of institutional investors. As a result of verifying whether there is "any difference in the management performances between the construction industry and the manufacturing industry according to the equity structure" which is the second hypothesis, nothing of the insider ownership and whether or not there is the construction industry, foreign share-holding and whether or not there is the construction, and the institutional ownership and whether or not there is the construction industry gave a statistical difference to MTB and ROA. Accordingly, it was possible to find out there is no difference in the management performance between the construction industry and the manufacturing industry based on the ownership structure in spite of different characteristics from the manufacturing industry such as the revenue recognition in ordering, production and accounting.

• Management & Information Systems Review
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• v.37 no.4
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• pp.1-20
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• 2018

This study aimed to examine earnings quality of firms selected as Global Champs project which has been promoted by the government since 2013 to support small and medium sized enterprises, for the screening year(t-1) and selected year(t). Earing quality is measured as the value of discretionary accruals estimated by Dechow et al.(1995) adjusted Jones model and Kothari et al.(2005) model, respectively. I analyze the differences of earning quality between the Global Champ firms and the paired firms selected through criteria of the similar total assets and the same industry in the screening year and the selected year. This study is motivated by the needs of measurement of the performance of the Project from the accounting transparent point of view. As the results of this study, major findings are summarized as follows. Firstly the earnings quality of the selected firms was lower than that of the paired firms. This can be explained as a result of motivation of earnings management by companies eager to meet the requirements to be selected for the Project. Secondly, in the selected year, the earnings quality was proved to improve, comparing to the screening year. This can be explained by the efforts of companies to reinforce management innovation and transparent management, which in turn led to positive effects on the earnings quality. These findings were found to be consistent in the additional analyses, where the earning quality of the reconstructed sample with only selected companies was compared for the screening year and the selected year, based on the year before the screening year(t-2).

• Journal of Intelligence and Information Systems
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• v.24 no.4
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• pp.67-83
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• 2018

The Korean film industry with significant increase every year exceeded the number of cumulative audiences of 200 million people in 2013 finally. However, starting from 2015 the Korean film industry entered a period of low growth and experienced a negative growth after all in 2016. To overcome such difficulty, stakeholders like production company, distribution company, multiplex have attempted to maximize the market returns using strategies of predicting change of market and of responding to such market change immediately. Since a film is classified as one of experiential products, it is not easy to predict a box office record and the initial number of audiences before the film is released. And also, the number of audiences fluctuates with a variety of factors after the film is released. So, the production company and distribution company try to be guaranteed the number of screens at the opining time of a newly released by multiplex chains. However, the multiplex chains tend to open the screening schedule during only a week and then determine the number of screening of the forthcoming week based on the box office record and the evaluation of audiences. Many previous researches have conducted to deal with the prediction of box office records of films. In the early stage, the researches attempted to identify factors affecting the box office record. And nowadays, many studies have tried to apply various analytic techniques to the factors identified previously in order to improve the accuracy of prediction and to explain the effect of each factor instead of identifying new factors affecting the box office record. However, most of previous researches have limitations in that they used the total number of audiences from the opening to the end as a target variable, and this makes it difficult to predict and respond to the demand of market which changes dynamically. Therefore, the purpose of this study is to predict the weekly number of audiences of a newly released film so that the stakeholder can flexibly and elastically respond to the change of the number of audiences in the film. To that end, we considered the factors used in the previous studies affecting box office and developed new factors not used in previous studies such as the order of opening of movies, dynamics of sales. Along with the comprehensive factors, we used the machine learning method such as Random Forest, Multi Layer Perception, Support Vector Machine, and Naive Bays, to predict the number of cumulative visitors from the first week after a film release to the third week. At the point of the first and the second week, we predicted the cumulative number of visitors of the forthcoming week for a released film. And at the point of the third week, we predict the total number of visitors of the film. In addition, we predicted the total number of cumulative visitors also at the point of the both first week and second week using the same factors. As a result, we found the accuracy of predicting the number of visitors at the forthcoming week was higher than that of predicting the total number of them in all of three weeks, and also the accuracy of the Random Forest was the highest among the machine learning methods we used. This study has implications in that this study 1) considered various factors comprehensively which affect the box office record and merely addressed by other previous researches such as the weekly rating of audiences after release, the weekly rank of the film after release, and the weekly sales share after release, and 2) tried to predict and respond to the demand of market which changes dynamically by suggesting models which predicts the weekly number of audiences of newly released films so that the stakeholders can flexibly and elastically respond to the change of the number of audiences in the film.

• Korean Journal of Soil Science and Fertilizer
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• v.29 no.2
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• pp.92-106
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• 1996

Imaginary grass field was assumed suitable as the representative one for simplified estimation of local drought, and a moisture balance booking model computing drought was developed with the limited numbers of its determining factors, such as crop coefficient of the field, reservoir capacity of the soil, and the beginning point of drought as defined by soil moisture status. The maximum effective rainfall was assumed to be the same as the available free space of soil reservoir capacity. The model is similar to a definite depth evaporation pan, which stores rainfall as much as the available free space on the water in it and consumes the water by evaporation. When the pan keeps water less than a certain defined level, it is droughty. The model simulates soil moisture deficit on the assumed grass field for the drought estimation. The model can assess the water requirement, drought intensity, and the index of yield decrement due to drought. The influencing intensity indices of the selected factors were 100, 21, and 16 respectively for crop coefficient, reservoir capacity, and drought beginning point, determined by the annual water requirements as influenced by them in the model. The optimum values of the selected factors for the model were respectively 58% for crop coefficient defined on the energy indicator scale of the small copper pan evaporation, 50 mm for reservoir capacity on the basis of the average of experimentally determined values for sandy loam, loam, clay loam, and clay soils, and 65% of the reservoir capacity for the beginning point of drought.

• The Journal of Korean Academy of Prosthodontics
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• v.51 no.4
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• pp.292-299
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• 2013

Purpose: There is a growing concern for the cost management of medical institutions. The purpose of this study was to estimate Activity-Based Costing (ABC) for dental implant cost. ABC refers to allocating resources or cost based on the activities of services. Materials and methods: A dental institution located in the metropolitan area was selected in this study. The tax accounting data of the institution were utilized to confirm total cost, and the institution was asked to make out clinical activities to figure out what activities were carried out. The direct cost and indirect cost for dental implant were separately estimated, and cost driver was analyzed to estimate the indirect cost accurately. Results: The rates of the direct and indirect cost respectively stood at 35.8 and 49.5 percent. The cost for a dental implant was found to be approximately 1,579 won, and the cost of prosthetic surgery and treatment that included implant surgery accounted for the largest portion of the cost, which was 470 thousand won (30%). And the weight of training and education on dentistry was relatively higher than that of the other kinds of treatment. Conclusion: In order to ensure accurate and scientific costing for dental implant, not only direct medical procedure but every pre- and post-procedure activity should fully be taken into account. Pre-activities, post-activities, education and training are included in the indirect cost, but all these activities are mandatory and associated with the quality of treatment and the satisfaction level of patients.