• Asia Pacific Journal of Business Review
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• v.4 no.1
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• pp.1-34
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• 2019

This study investigates whether and how a firm's cost of equity capital is influenced by the extent of a firm's real earnings management (REM). Using a large sample of Hong Kong and Chinese firms over the 9-year period 2009-2017, we find that our implied cost of equity estimates are positively associated with both the extent of REM and the extent of accrual-based earnings management (AEM), but the positive association is stronger for REM than for AEM. We also provide evidence suggesting that the effect of AEM and REM on the cost of equity is more pronounced for Hong Kong firms than Chinese firms, and within Chinese firms, it is less pronounced for the state-owned enterprises (SOEs). Collectively, our results suggest that while both REM and AEM exacerbate the quality of earnings used by outside investors, REM does so to a greater extent than AEM, and thus the market demands a higher risk premium for REM activities than for AEM activities and that this cost of capital-increase effect is more prominent in a developed market like Hong Kong and mitigated by state ownership in China because of investors' expectations for a lower level of detriments to firm fundamentals by REM due to government's protection in a less developed market like China.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.273-279
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• 2011

Concerns over the environment have spawned a number of research studies in the construction industry, as the construction of built environments and large infrastructures involves diverse environmental impacts and loads of hazardous emissions. Many researchers have attempted to quantify these environmental loads, including greenhouse gases, carbon dioxide, nitrogen dioxide, and sulfur dioxide, to name a few. However, little research has been conducted regarding integrating the life-cycle assessment (LCA) of environmental loads with the current life-cycle cost analysis (LCCA) approach. This study aims to estimate the environmental loads as a monetary value using the European Climate Exchange (ECX) rate and, then, to integrate those impacts with the pure construction cost. Toward this end, this study suggests an integrated approach that takes into account the environmental effect on the evaluation of the life-cycle cost (LCC). The bill of quantity (BOQ) data of a real highway project are collected and analyzed for this purpose. As a result, considering the environmental loads in the pavement process, the total LCC increased 16% from the traditional LCC cost. This study suggests an integrated approach that will account the environmental effect on the LCC. Additionally, this study is expected to contribute to better decision-making, from the perspective of more sustainable development, for government as well as for contractors.

• Journal of Korean Medicine Rehabilitation
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• v.24 no.1
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• pp.65-76
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• 2014

Objectives The purpose of this study is to investigate the corelation between traffic accident severity and treatment period and cost by traffic accident. Methods Outpatients who visited Jaseng Korean medicine hospital traffic accident clinic were investigated by hospital computer system about period and cost of treatment. And we requested for repair cost of car, a sort of car groups and agreement date with car insurance company to insurance company. Therefore we could analysis statistical correlation of traffic accident severity (repair cost of car) with period of treatment, cost of treatment, number of treatment in same sort of car groups. For statistics, we used SPSS version 18.0 for windows. Results A significant positive correlation was found between traffic accident severity (repair cost of car) with repair cost of car, cost of treatment and number of treatment in semi-midsize car, midsize car group. But, any significant correlation wasn't found between traffic accident severity (repair cost of car) with repair cost of car, cost of treatment and number of treatment in small car, full-sized car group. In SUV (sport utility vehicle) car group some significant correlation was found, but it isn't between traffic accident severity (repair cost of car) with repair cost of car, cost of treatment and number of treatment. Conclusions It was found that traffic accident severity (repair cost of car) had an effect on cost of car, cost of treatment and number of treatment by statistical analysis. But, it was also suggested strongly that other factors like a cost of car and ages had an effect on them.

• Journal of Preventive Medicine and Public Health
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• v.39 no.2
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• pp.149-158
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• 2006

Objectives : We wanted to evaluate the economic value of a pharmaceutical product, Kremezin, for treating patients with chronic renal failure (CRF) by estimating the amount of cost savings due to its effect for delaying the initiation of dialysis treatments. Methods : We defined a conventional treatment for CRF accompanied by Kremezin therapy as 'the treatment group' and only conventional treatment as 'the alternative group.' The types of costs included were direct medical and nonmedical costs and costs of productivity loss. The information on the effect of Kremezin was obtained from the results of earlier clinical studies. Cost information was derived from the administrative data for 20 hemodialysis and 20 peritoneal dialysis patients from one tertiary care hospital, and also from the administrative data of 10 hemodialysis patients from one free-standing dialysis center. Per-capita cost savings resulting from Kremezin therapy were separately estimated for the cases with delay for the onset of hemodialysis and the cases with immediate performance of peritoneal dialysis. By computing the weighted average for the cases of hemodialysis and peritoneal dialysis, the expected per-capita cost savings of a patient with CRF was obtained. Using a discount rate of 5%, future cost savings were converted to the present value. Results : The present value of cumulative cost savings per patient with CRF from the societal perspective would be $18,555,000{\sim}29,410,000$ Won or $72,104,000{\sim}112,523,000$ Won if Kremezin delays the initiation of dialysis by 1 or 4 years. Conclusions : The estimated amount of cost savings resulting from treating CRF patients with Kremezin confirms that its effect for delaying the onset of dialysis treatments has a considerable economic value.

• The Journal of the Korea Contents Association
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• v.9 no.1
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• pp.293-303
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• 2009

The purpose of this study is to review causal effect of corporate image, customer royalty on switching cost. Specifically, giving managerial view point to build strategic CRM is major purpose of this research with finding out how the switching cost influences to the corporate image and customer loyalty deciding customer's desire of repurchase and knowing the important factors of corporate image. The result of this study is that switching cost has an effect on corporate image as the important factors. Also corporate image influences on customer loyalty.

• International Journal of Reliability and Applications
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• v.9 no.1
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• pp.113-122
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• 2008

In this paper, we consider a periodic preventive maintenance policy in which each preventive maintenance reduces the hazard rate of amount proportional to the failure intensity, which increases since the system started to operate. And the effect of preventive maintenance at each preventive maintenance epoch is different. The expected cost rate per unit time for the proposed model is obtained. We discuss the optimal number N of the periodic preventive maintenance and the optimal period x, which minimize the expected cost rate per unit time and obtain the optimal preventive maintenance schedule for given cost structures of the model. A numerical example is given for the purpose of illustrating our results when the failure time distribution is Weibull distribution.

• Journal of the military operations research society of Korea
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• v.28 no.2
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• pp.1-19
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• 2002

This study shows the effect of inventory policy change from supplier-based to customer-based. We focus on the service level, cost, and information distortion of the Military Supply Chain(MSC) with System Dynamics. We design MSC model according to field practician interviews by using Vensim. The simulation makes a comparison between supply-based inventory policy performances and order-based inventory policy performances. In order to evaluate the MSC performances, we measure the accumulation of backlog(service level), supply chain cost, and order percentage overshoot(information distortion). The results show that 1) changing inventory policy from supplier-based to end customer order-based gets a good customer service, reduces MSC cost, and prevents information distortion, 2) changing inventory policy from supplier-based to immediate customer order-based reduces a small amount of MSC cost and deteriorates customer service, and 3) supply level is main factor for MSC performances improvement. This study implicates the policy change makes a improvement of MSC performance without introducing information system.

• The Journal of Fisheries Business Administration
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• v.49 no.4
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• pp.19-36
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• 2018

Overstock in aquaculture is a matter of concern in aquaculture management. To sort fish based on fingerling size in case of overstocking is an important problem in aquaculture farm. This study aims to determine the amount of fry overstock and sorting time in aquaculture farm. This study builds a mathematical model that finds the value of decision variables to optimize objective function summing up the fingerling purchasing cost, aquaculture farm operating cost and feeding cost under mortality and farming period constraints. The proposed mathematical model involves following biological and economical variables and coefficients: (1) number of fingerlings, (2) sorting time, (3) fish growth rate and variation, (4) mortality, (5) price of a fry (6) feeding cost, and (7) possible sorting periods. Numerical simulation is presented herein. The objective of numerical simulation is to provide decision makers to analyse and comprehend the proposed model. When extensive biological data about growth function of fry becomes available, the proposed model can be widely applicable to real aquaculture farms.

• Korea Trade Review
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• v.45 no.2
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• pp.17-29
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• 2020

This study analyzed that the effects of AEO MRA benefit on decreasing of trade cost and the strategies for expanding of trade. It uses the system GMM for effective solutions of endogenous matter with lagged dependent variable. In terms of the result of analysis, AEO MRA has a positive effect on decreasing of trade cost, especially this study proved the result of previous study AEO MRA expanded the trade through improving the time required for customs clearance and deregulation of non-tariff barriers. In conclusion, this study proposes the policy fo AEO MRA by analyzing the trade cost of AEO MRA by using the system GMM.

• Asia pacific journal of information systems
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• v.13 no.3
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• pp.107-130
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• 2003

This paper aims to investigate the adjustment effect of switching barriers on customer retention in mobile telecommunication services. The detailed factors regarding switching barriers are classified based on the related literatures. Furthermore, the hierarchical regression analysis is used to analyze the extent to which the factors affect customer retention. The main contribution of this paper is to focus on switching barriers and theirs relationships with customer retention rather than customer satisfaction on early studies. The results are as follows: First, among the factors of switching barriers, switching costs, such as continuity cost and contractual cost, interpersonal relationship, and attractiveness of alternatives are key factors in determining customer retention. Second, continuity cost and interpersonal relationship have an adjustment effect between customer satisfaction and customer retention. The findings can help the mobile operators establish a customer-oriented strategy by identifying a few key factors strengthening the linkage with customers.