• The Journal of Art Theory & Practice
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• no.2
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• pp.191-213
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• 2004

The trend of "Blockbuster Exhibitions" over the past decade has led to the unfortunate reality that museums, losing sight of their role as an Academic organization, are becoming increasingly influenced by the corporate world. In my dissertation entitled "The Commercialization of Blockbuster Exhibitions in Museums," I explore the modern tendency toward Blockbuster exhibitions in art museums and the negative impact of those exhibitions on the art world. Museums of the modern day have expanded their territory from the traditional venue of public education to the hybrid cultural space. This mission, evident in the museum's attempt to satisfy audiences with the offering of diverse activities, has changed the concept of the museum, giving priority to the desire for financial gain. From the viewpoint of this new museology, the museum considers Blockbuster exhibitions as the safest method to increase ticket sales. As a program that openly reveals the commercialism of the museum, I explore the Blockbuster show and its strategies as a means of exposing the influence of the corporate world on art. A key component to the Blockbuster exhibition is the "hype" that is created to attract an audience. This devotion to increased publicity distracts from what should be the goal of public education, as the primary focus leans towards the desire for a large number of visitors. Consequently, this unavoidably standardized exhibition is presented to the public in a manner that deprives the audience of a unique experience. With large crowds and increased ticket prices, it is difficult to form a genuine appreciation of the artwork. In addition to the profit gained by increased ticket prices and the commercial sales of "souvenirs" from the museum gift shop, Blockbuster shows are used as a means to attract the attention of corporate sponsors. As explained in my dissertation, the importance that the museum places on corporate sponsorship as a capital resource is evident, however the degree to which the museum allows itself to he influenced by the desire for capital gain poses a threat to its function as an academic organization. Circumstances in American museum history, in particular, have influenced the transition from academic resource to corporation within museology. In keeping with the nation's tendency towards capitalism, art museums in the United States were initially established and developed by individual capitalists who applied principals of corporate operation to museum management. As a result, in modern days, We witness the influence of enterprise on museum programs, while corporate management may be able to guarantee immediate fiscal benefits, however, it is unable insure the future of the museum. In Slim, my dissertation discusses the mechanism of the commercialized "Blockbuster Exhibition" and the impact that it has on the future of the museum as an industry. This research provides an opportunity to reconsider the role of the museum as an academic institution, particularly in regard to the need to decrease the capitalization of exhibitions and refocus their influence on the art world as an educational resource.

• Korean Journal of Construction Engineering and Management
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• v.16 no.5
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• pp.31-41
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• 2015

The telecommunication industry has been considered as a national fundamental infrastructure. However, due to the rapid evolution of technology and the change of industry market conditions, the telecommunication infrastructure needs no more huge space for facility and it leads its use to the mixed-use development based on private investment. This study intends to examine the financial feasibility of the development project for the optimal alternative use of telecommunication facility purpose site as a case study based on two types: contributed acceptance and multi-level designation. The NPA and IRR has been analyzed by the simulation of stochastic variables including rent price and its variation rate, vacancy rate, construction cost, capitalization rate and discount rate. The research finding indicates that the two types of development are satisfied with the financial feasibility and it is noteworthy that the rent price turns out to be the most critical factor for the project. Accordingly, it is expected that these research finding can be applied for providing the solid cases of financial feasibility analysis for the development project in limited use of telecommunication facility purpose site.

• Information Systems Review
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• v.9 no.1
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• pp.105-120
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• 2007

With the fast development of the Internet and the increasing dependence on information infrastructures, companies are faced with various information security threats such as information leakages, modifications, and information breaches. South Korea is one of the leading countries in the Internet usage, but is ranked relatively low when it comes to information security. In fact, many Korean firms have suffered financial losses and damaged corporate images from the information security breaches. However, because of the difficulties in quantifying the costs of the information security breaches, Korean companies tend to delay their investment decisions on information security. The purpose of this study is to measure the cost of information security breach and the economic value of security investment using the event study methodology. Our results show that the announcement of an information security breach negatively influenced the market value of the corresponding company. The effect was statistically significant at the significance level of p=0.05. The breached companies lose, on average, 0.86% of their market values on the day of the announcement - an average loss in market capitalization of $55 million. On the other hand, the investment on information security had no effect on the stock price or the market value of the firm.

• Land and Housing Review
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• v.9 no.2
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• pp.9-19
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• 2018

The purpose of the study is to show the possibility of the enlargement of land banking types through employment of the French land bank case. For sustainable urban regeneration projects, it is necessary to improve the land banking system with comprehensive land banking types. There are a total of 35 land banking agencies in France, which are made according to the needs of the municipality. The main function of these institutions is to perform functions such as land acquisition, management, division, land maintenance(decontamination, etc.), land use plan review and so on. In the 1960s and 1970s, mainly purchase and maintenance of land mainly focused on Brownfield and idle land, but since 2000 the land purchase business is mainly for the supply of social rental housing which is missing It was. The use of land banks is most frequently mentioned as a way of how to supply land at a low price in urban renewal projects. To that end, it is necessary to revise related laws, even if the law is revised so that land for urban regeneration projects can be secured, due to the limit of financial resources, land for the urban regeneration project nationwide secured It will not be easy without policy judgment of a positive nation. Therefore, securing land reserve resources for urban regeneration projects utilizing residential district funds and municipal maintenance funds is essential. In addition, even on a small scale, it is necessary to consider the banking of land for regional capitalization at the local government level.

• Management & Information Systems Review
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• v.33 no.1
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• pp.83-97
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• 2014

This study examined the effects institutional block ownership on the stock market liquidity in Korean Stock Market. The two measures of institutional block ownership are used. They are the percentage of a stock owned by institutional blockholder and the number of institutional blockholder that own the stock. This study used the Amihud(2002) illiquidity measure to measure stock market liquidity. The results are as fellows. First, this study showed that the number of institutional blockholder is significantly negatively correlated with the Amihud(2002) illiquidity measure in the analysis which is used the whole data. But we found no a consistent results between the number of institutional blockholder and the Amihud(2002) illiquidity measure in the grouped institutional blockholder's number analysis. This indicates that the effects institutional blockholder on market liquidity is not simple. Second, this study showed that the percentage of a stock owned by institutional blockholder are negatively related with Amihud(2002) illiquidity measure, especially revealed statistically significant in the group 3(11.71%~17.38%) and group 4(7.45%~11.65%). This results suggest that the institutional blockholder have positive effect on the market liquidity in the group 3 and 4. Third, the significance of the percentage of institutional block ownership and the number of institutional block ownership in explaining illiquidity are more showed in the term of the global financial crisis(2008) than the before and the after of the global financial crisis.

• Korean Business Review
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• v.17 no.2
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• pp.41-61
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• 2004

Before 2003 the companies in Korea should capitalize the interest expenses that are attributable to the acquisition, construction or production of a qualifying assets. However, according to the revised standard which should be applied from 2003, the companies can either capitalize the interest expenses or recognize as an expense when they are incurred. Therefore almost all the companies confronted with the decision making of accounting choices on the interest capitalization. This paper empirically examines which financial characteristics of the companies affect the accounting choice by using logistic regression model and reviews the sufficiency of the foot notes disclosures regarding the capitalized interest. The variables of the financial characteristics are change of debt-equity ratio, borrowing ratio, qualifying assets ratio, firm size and income smoothing. The results of this study are summarized as follows. First, among the financial characteristics, only qualifying asset ratio has the significant difference between capitalized companies and expensing companies. Second, the results of logistic regression indicate that qualifying asset ratio and firm size have the significant influence on the accounting choices. Therefore, I cannot find the evidence supporting that the companies use the accounting choice to manage the financial ratios.

• Journal of Fisheries and Marine Sciences Education
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• v.29 no.2
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• pp.453-465
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• 2017

UN adopted the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs) in 2015, a set of 17 objectives with 169 targets expected to guide actions over the next 15 years (2016-2030). One goal expressly focuses on the oceans, that is, SDG 14 'Conserve and sustainably use the oceans, seas and marine resources for sustainable development'. More than 30% of fish stocks worldwide were classified by FAO(2016) as overfished. Globally, world capture fisheries are near the ocean's productive capacity with catches on the order of 80 million metric tons. Aquaculture production is increasing rapidly and is expected to continue to increase, but aquaculture encounters some environmental challenges, including potential pollution, competition with wild fishery resources, potential contamination of gene pools, disease problems, and loss of habitat. Accordingly, there have been a variety of world organization and conferences stressing the importance of the implementation of the ecosystem-based fisheries management(EBFM) to overcome these problems. Annual catch of Korean fisheries have shown continuously declining patterns since late 1990s. Most fish stocks are currently known to be over-exploited, and some stocks are depleted due to the increase in fishing intensity and over-capitalization of fishing fleets. Other reasons for the depletion are land reclamations and coastal pollution, which destroy spawning and nursery grounds along the coastal regions. Aquaculture production is also increasing rapidly in Korea. However, several important issues such as gene pool and interaction with capture fisheries should be considered. The EBFM approach should use the best available information coupled with a reasonable application of the precautionary approach. The EBFM has global relevance, and so the real challenge will be to develop and use reliable, robust and cost-effective means of assessing and monitoring the status of ecosystems and their resources, and rapid means of detecting any undesirable and excessive impacts that threaten sustainable use. Future fisheries education should take into account UN's SDGs, which were adopted to achieve the global 2030 agenda. However, there are some difficulties in the current fisheries education system in Korea. First, the current education organizations are limited within the old frame of traditional fisheries sciences. Second, the fisheries education is currently lack of the future-oriented education system and of customized schools or departments. Third, the on-going fisheries education has been based upon few educational policies which are sufficiently relevant to holistic SDGs of the global standard. Accordingly, directions to modern fisheries education for achieving SDGs would be, first, the transition of fisheries education structure into the future-oriented and customized education system. Second, fisheries education needs to shift to the new paradigm, which combines traditional fisheries science education with related fields such as oceanography and environmental sciences to adopt the concept of EBFM. Lastly, fisheries education should accompany relevant policies for effectively achieving SDGs.

• Cross-Cultural Studies
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• v.43
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• pp.7-50
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• 2016

In the capitalized Joseon Dynasty under the Japanese colonial rule, most Gisaengs (female entertainers) were waiting for men who would save them from financial distress, but others chose to seize the opportunity imposed by the modern times and capitalization to transform their lives. Socialist Jung Chil-sung was one of those who utilized such opportunity to transform themselves through political awakening. The political awakening of Chung Chil-sung was the result of two factors-the historical occasion of the March $1^{st}$ movement and her personal labor experience as Gisaeng. The March $1^{st}$ movement was not only a colossal political incident externally manifested in nationalism and but also an occasion which educed the microscopic anger of a woman named Chung Chil-sung. In the early capitalist society, women with jobs were forced to play not only vocational tasks but also to subject themselves to emotional roles of being obedient and generous. In other words, those early career women suffered feelings such as anger, shame and humiliation, when they were defenselessly exposed to gender hierarchy and gender power in the public sphere. As shown in the case of Chung Chil-sung, these emotions led to a certain political awakening. The political awakening through the labor experience and emotional problems was the fact that helped Chung Chil-sung have a concrete and realistic understanding about the issue of women's economic dependence unlike other female socialists. But, although socialism was relatively the most appropriate language to explain Chung Chil-sung's experience, what she experienced contained several elements that cannot be explained by the elite socialist language. Therefore, her life paradoxically proved the need of lower-class women's lives to be divided and registered as a new emotion and to be politically visualized.

• Journal of Internet Computing and Services
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• v.23 no.4
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• pp.45-55
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• 2022

The size of the cryptocurrency market is growing. For example, market capitalization of bitcoin exceeded 500 trillion won. Accordingly, many studies have been conducted to predict the price of cryptocurrency, and most of them have similar methodology of predicting stock prices. However, unlike stock price predictions, machine learning become best model in cryptocurrency price predictions, conceptually cryptocurrency has no passive income from ownership, and statistically, cryptocurrency has at least three times higher liquidity than stocks. Thats why we argue that a methodology different from stock price prediction should be applied to cryptocurrency price prediction studies. We propose Reverse Walk-forward Validation (RWFV), which modifies Walk-forward Validation (WFV). Unlike WFV, RWFV measures accuracy for Validation by pinning the Validation dataset directly in front of the Test dataset in time series, and gradually increasing the size of the Training dataset in front of it in time series. Train data were cut according to the size of the Train dataset with the highest accuracy among all measured Validation accuracy, and then combined with Validation data to measure the accuracy of the Test data. Logistic regression analysis and Support Vector Machine (SVM) were used as the analysis model, and various algorithms and parameters such as L1, L2, rbf, and poly were applied for the reliability of our proposed RWFV. As a result, it was confirmed that all analysis models showed improved accuracy compared to existing studies, and on average, the accuracy increased by 1.23%p. This is a significant improvement in accuracy, given that most of the accuracy of cryptocurrency price prediction remains between 50% and 60% through previous studies.

• Korean small business review
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• v.43 no.1
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• pp.1-33
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• 2021

This study explores differential value implications of R&D expenditure across firms, especially in terms of growth potential of small businesses. Analyzing Korean listed firms for the period from 1982 to 2014, we document the followings. First, large firms, defined as the top quintile group based on market capitalization, have spent higher R&D expenditure compared to small (bottom quintile group) and medium (middle quintile groups) firms and the difference between groups has enlarged over time. Relatedly, the persistence of R&D spending, measured by the association between current R&D expenditure and cumulative future R&D expenditure over the next five years, is lowest in small firms. Second, R&D of large (small) firms are more (less) likely to generate operating profits over the next five years. Additional analyses suggest that the relation between R&D and gross margin is strongest in large firms, suggesting that R&D underlies their competitiveness in the product market. Third, small firms have borne the highest uncertainty related to R&D investment proxied by the association between current R&D and volatility of future earnings. As a result, the likelihood of R&D leading to future patents is also lowest in small firms. Fourth, the probability of moving up to the next size group within the next five years is significantly lower in small firms than others. Finally, we find that the divergence in R&D expenditure between large and small firms is positively associated with product market concentration. Overall, our findings confirm the small business growth trap in relation to R&D investment.