• Asian Journal of Business Environment
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• v.12 no.4
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• pp.35-44
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• 2022

Purpose: The main purpose of this study is to find out the impact of ownership structure on firm performance in the pharmaceutical and chemical industry of Bangladesh. Research design, data and methodology: The study has been conducted on 28 listed pharmaceutical and chemical companies from 2012 to 2020. Return on Assets (ROA) and Tobin's Q are selected as indicators of internal and market performance of the firms respectively whereas institutional ownership, directors' ownership and foreign ownership are selected as proxies of ownership structure. Panel analysis using random effects, lag method and time dummy method is used to analyse the relationship. Results: The study has found the existence of highly concentrated directors' ownership, a low percentage of institutional ownership and a very insignificant proportion of foreign ownership in the industry. The regression results show that directors' ownership has a positive and significant impact on firm performance, supporting the concept of agency theory. The study has also found a positive and significant impact of foreign ownership on firm performance. Unfortunately, the impact of institutional ownership is found to be insignificant. Conclusions: Directors' ownership and foreign ownership decreases agency cost that ultimately increases firm performance. However, the role of institutional investors is not significant enough to improve firm performance. It is suggested that institutional investors should be more active and involved in monitoring the activities of the organisations to improve performance.

• Proceedings of the Korea Information Processing Society Conference
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• 2011.04a
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• pp.631-634
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• 2011

IETF(Internet Engineering Task Force)는 신속하고 안전한 이동성 서비스를 위하여 네트워크 자원의 사용을 안전하게 하고 법적으로 보장하는 핵심기술 같은 많은 의미있는 작업들을 해오고 있으며 기존의 MIPv6(Mobile IPv6)에서 핸드오버 지연과 시그널링 오버헤드 같은 문제를 보완하기 위하여 HMIPv6(Hierarchical Mobile IPv6)를 제안하였다. 현재 HMIPv6에 관한 연구의 대부분은 HMIPv6와 AAA(Authentication, Authorization, Accounting) 프로토콜 사이의 상호작용 절차를 최적화하기 위한 방법에 초점을 맞추고 있다. 해당 논문에서는 AAA 절차에서 인증대기를 최소화하는데 중점을 둔 비용효율적인 계층 인증 기법을 제안한다. 이 기법에서는 MAP(Mobility Anchor Point)에 배포되어진 AAA 서버들, 그리고 홈 도메인 안에 있는 AAA 서버를 대신하는 브로커들의 계층적 AAA 아키텍처를 제안한다. 이 시뮬레이션 결과는 제안된 기법이 이전의 전통적인 인증 조합 모델링과 비교하여 핸드오프 지연과 인증대기 시간이 상당히 줄어들었음을 보여준다.

• Journal of the Korea Safety Management & Science
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• v.25 no.2
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• pp.113-120
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• 2023

Occupational safety and health management expenses in the construction industry are statutory and separately included in the cost statement to prevent occupational accidents and health problems. The expenses are determined by multiplying the standard amount by the rate decided according to construction types and scales. However, the current expense appropriation method does not properly reflect the recent changes in the construction industry such as industry size, industry diversification, and social atmosphere about safety reinforcement. This study surveyed 1579 questionnaires in total and analyzed expense execution rate and proportion of each expense category. The expense execution rate was relative higher in complex construction (e.g., heavy construction = 126%, civil engineering = 125%) and long-period project (equal to or over 48 months construction = 133%) compared to general construction (98~116%) and short-period project (less than 48 months construction = 115%). The proportion of spending expenses was higher in the category of safety manager labor costs (25~52%), safety facility costs (22~40%), and personal protective equipment costs (10~25%). The analysis results of the study can be utilized in revising the standard expense appropriation method by reflecting the current usages of the occupational safety and health management expenses in the construction industry.

• Journal of the Korea Safety Management & Science
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• v.25 no.2
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• pp.121-128
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• 2023

Construction industry is considered as one of the most high-risk industries for work-related injuries and fatalities, accounting for more than half of fatalities in Korea. Advanced countries have recognized the critical role of designers in preventing construction accidents and have established regulations on design for safety. In line with this, the Korean government have also implemented regulations that require owners and designers to review the safety of design outcomes. However, it has been observed that designers face challenges in identifying hazards and integrating design solutions at the design stage mainly due to their shortage of required knowledge and skills. This study aimed to examine design solutions that can be applied to prevent fall accidents in the construction industry, and to establish a relationship between these solutions and fatal fall accidents occurred over the past three years in Korea. This study also analyzed the relationships of four variables (construction type, cost, work type, and fall location) with design solutions. The results indicated that all four variables have significant relationships with design solutions, with fall location showing the strongest relationship. The design solutions and their relationships with fatal fall accidents identified in this study can be utilized in identifying hazard and integrating design solutions to ensure design for safety.

• Journal of the Institute of Electronics Engineers of Korea TC
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• v.48 no.1
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• pp.84-91
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• 2011

To develop the new network, the future network architecture is studied. Since the mobile devices are also advanced, they need for the mobility protocols. The one of the protocols, Fast handovers for proxy MIPv6(PFMIPv6) has studied by the Internet Engineering Task Force(IETF). Since PFMIPv6 adopts the entities and the concepts of fast handovers for MIPv6(FMIPv6) in proxy MIPv6(PMIPv6), it reduces the packet loss. Although the conventional scheme has proposed that it cooperated with an Authentication, Authorization and Accounting (AAA) infrastructure for authentication of a mobile node in PFMIPv6, it has the drawbacks such as high signaling cost and long handover latency. To reduce the signaling cost and the handover latency, we propose an enhanced authentication scheme in Fast handover for Proxy MIPv6. The proposed scheme reduces the handover latency and the signaling cost because the registration procedure and the authentication procedure are simultaneously performed. We also compare the proposed scheme with the conventional scheme in terms of the signaling cost and the handover latency.

• Korean small business review
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• v.40 no.3
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• pp.1-24
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• 2018

The purpose of this study is verifying with corporate financial data that the required investment amount flow shows a similar pattern as times passed, in new product development by start-up company. In the previous paper, the same authors proposed the required investment amount flow as a 'New Product Investment Curve (NPIC)'. In this study, we have studied further in various types of companies. The samples used are accounting data of 462 companies selected from 5,873 Korean companies which were finished external audit in 2015. The results of this study are as follows; The average investment period was 3 years for the listed companies, while 6 years for the unlisted companies. The investment payback period was 6 years for listed companies, while 17 years for unlisted companies. The investment payback period of the company supported by big affiliate company (We call 'greenhouse company') was 14~15 years, while 17 years for real venture companies. When we divide all companies into 4 groups in terms of R&D cost and variable cost ratio, NPIC explanatory power of 'high R&D and high variable cost ratio group (Automobile Assembly Business) is best. Among the eight investment cost indexes proposed to estimate the investment amount, the 'cash 1' (operating cash flow+fixed asset excluding land & building+intangible asset, deferred asset change)/year-end total assets) turned out to be the most effective index to estimate the investment flow patterns. The conclusion is that NPIC explanatory power is somewhat reduced when we estimate all companies together. However, if we estimate the sample companies by characteristics such as listed, unlisted, greenhouse, and venture company, the proposed NPIC was verified to be effective by showing the required investment amount pattern.

• Journal of Food Hygiene and Safety
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• v.39 no.2
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• pp.171-179
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• 2024

In previous Cost-of-Illness (COI) studies, the economic impact of lost leisure time of patients has been mostly underexplored. Furthermore, few studies have focused on chronic or severe diseases, thereby inadequately addressing the segment of self-care patients who do not fall into the categories of inpatients or outpatients. In the present study, we used a comprehensive approach to calculate the annual cost of leisure loss, incorporating factors such as employment status, self-care options, and total period of leisure activity disruption. This required analyzing data from various sources, including health and labor statistics, and applying methods to accurately assess the leisure time lost due to food poisoning. The findings showed that the annual cost of leisure loss for South Korean patients with food poisoning is significant, amounting to approximately 784.5 billion KRW (702.8 million USD, USD/KRW : 1128.34). This study revealed that overlooking self-care patients and not accounting for the affected time in addition to treatment time and employment status significantly underestimated these costs. This study highlights the importance of considering a wider range of factors, including self-care, employment status, as well as the entire affected period, in assessing the societal impact of diseases such as food poisoning. These findings provide valuable insights for policymakers and healthcare professionals to understand the broader economic implications of illness and allocate healthcare resources more effectively.

• Management & Information Systems Review
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• v.28 no.1
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• pp.71-97
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• 2009

In this study, I compare the ability of alternative accounting method for employee stock option to reflect firm value using the Ohlson's(1995) valuation model for 200 firms. The each methods, I compare are employee stock option expense recognition based on the K-GAAP disclosures, and asset recognition at the grant date based on the SFAS No. 123 Exposure Draft: Accounting for stock-based compensation. The model include: (1) a model that uses reported earnings, equity book value, and compensation expense based on the K-GAAP disclosures; (2) a model that uses pro-forma earnings, equity book value and adds a measure of the unrecognized asset arising form granting of employee stock options. Finding form estimating equations that the K-GAAP method for calculating compensation has no explanatory power, and the SFAS No.123 Draft Exposure method for arising asset and fair value compensation better captures than market's perception of the economic impact of stock options on firm values. However, the correlation of employee stock option compensation expense is positive. These results suggest that incentive benefits derived from employee stock option plans outweigh the cost associated with plan. In addition, I couldn't find evidence that company in KOSDAQ that have high growth potential benefit more from employee stock option plan compared to lager, more mature firm in SEC.

• Land and Housing Review
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• v.4 no.1
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• pp.107-117
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• 2013

This study aimed to assess the rental housing ABS in Korea, and to suggest ways of improving the structure of existing rental housing ABS. Thus, the three major assessment for existing public rental housing ABS case can be summarized as follows : First, when viewed in terms of the accounting treatment, rental housing ABS which use the future receivables as underlying asset, can not enjoy off-balance-sheet effect. Second, when viewed from the point of financing costs, the rental housing ABS interest rate being higher than unsecure bond is very unreasonable nevertheless the ABS being off-balanced. Third, when viewed from the liquidity effect, the originator (LH) use the ABS as a means of diversifying funding in a serious liquidity crisis situation. The Improvement of rental housing ABS based on the evaluation results can be summarized into two broad. First, it is a plan to handle the off-balance-sheet effect in a way of changing the accounting treatment of rental payment. Second, it is a plan to reducing the structuring cost and interest rate in ways of multi-asset securitization structure, self-trust structure, and adopting legal CB structure.

• Journal of Internet Computing and Services
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• v.16 no.4
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• pp.1-11
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• 2015

This study uses the contingent valuation method to estimate the switching cost for adopting the MVNO service. The findings are as follows.: First, Willingness To Switch(WTS) increases as users' using pattern and perceived degree of MVNO service, but satisfaction with current service provider does not play a significant role in predicting Switching Cost. This means that as amount of money users can save exceeds a certain level, users decide to willingly change their service provider to MVNO regardless of their level of satisfaction with current service provider. Second, there are differences in WTS among service subscribers in SKT, KT and LGU+. It means that there will be a difference in the tendency to switch to MVNO among subscribers of service providers. This study suggest the following mangerial perspective to effectively promote the MVNO and boost the MVNO market for activation of mobile data services.: First, MVNOs are better off applying differentiated pricing scheme at attractive rates than using a differentiation of service product and quality. Second, regulators should consider how to implement an MVNO regulatory policy when there is an asymmetric customer loyalty among MNOs. This research will be used to set the MVNO's pricing strategy and to build up a successful regulatory policies.