• Asia-Pacific Journal of Business
• /
• v.11 no.4
• /
• pp.271-289
• /
• 2020

Purpose - This paper examined the relation between Correction of Annual Reports and Earnings management. The annual reports are used as key reports for critical decision making by providing useful information to various stakeholders across the firm. Design/methodology/approach - The sequence of this study is analysed that each of the following two cases affects the earning management: 1. that corrections have been made; 2. Where financial information have been modified or non-financial information have been modified during the correction of the annual report. We draw an initial sample of firms listed on the Korea Stock Exchange from 2014 to 2017. Among these, we excluded firms that were not able to obtain the variables needed to measure the correction of Annual Reports and the earnings management. Finally, we use the 7,035 firm-year observations. Findings - Our empirical results of this study are as follows; First, it turned out that the earnings management of companies that report business reports on corrections is larger than those that do not. Second, among the types of annual report corrections, the correction of non-financial information is significantly larger on earnings management than the correction of financial information. Research implications or Originality - The correction disclosure of business reports is a very important issue in terms of accounting information accuracy and reliability. The results of this study will provide policy implications for correction disclosures and regulations due to an important issue as accounting information. An entity that initially prepares accounting information should advanced in such a way that it provides high quality accounting information and then complements and accepts it by various stakeholders.

• Journal of Veterinary Clinics
• /
• v.39 no.1
• /
• pp.9-15
• /
• 2022

As more veterinary clinics become specialized with the growth of the companion animal market, an increasing number of veterinary clinics perform orthopedic surgery and use orthopedic products, some of which are defective and have side effects. Thus, the present study aimed to prepare fundamental data for the revision and development of manufacturing standards for these products in order to prevent their side effects. We conducted a survey targeting veterinary clinics as consumers and medical device companies as suppliers. Veterinary clinics were surveyed via offline and online methods; 320 clinics that offered orthopedic surgery and approximately 4,000 veterinary clinics that were registered in the Korean Veterinary Medical Association were targeted, and 153 veterinary clinics responded to the survey. The survey for medical device companies, was performed online, targeting 29 companies; 14 companies responded. The number of side effects of orthopedic products was higher in animal orthopedic products than in those for human use. Many consumers tended to suspect that side effects were caused by product defects. To resolve side effects after using orthopedic products, consumers mostly underwent reoperation. Meanwhile, some severe cases proceeded to legal disputes. Similarly, medical device companies, or the suppliers, responded that most side effects occurred in veterinary orthopedic products and that product defects and mistakes in use were the causes. As for most of the follow-up actions for side effects, these companies either reported the issue to those in charge or analyzed and resolved the issues themselves. Therefore, to develop quality products, suppliers should be provided with clear standards for the production, and information disclosure and a report system for side effects should be particularly established to gain consumers' trust regarding the safety of these products.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.25 no.2
• /
• pp.45-59
• /
• 2023

This study aims to find implications for the introduction and practice of ESG by domestic fashion companies by examining the core ESG topics and strategies of Samsung C&T Fashion Division, Kolon FnC, F&F holdings, and Fila. ESG management analysis examined the importance of the criticality evaluation process, critical issues, and implementation strategies for each key topic based on the company's 2021 ESG sustainable management report, and analyzed the relationship with UN SDGs and the GRI. The analysis results are as follows: As for KCGS' ESG rating, Samsung C&T's fashion division, Kolon FnC, and Fila Holdings were rated A, while F&F Holdings was rated B+. The major issues derived from ESG's criticality assessment are environmental issues related to Samsung C&T's fashion division. Kolon FnC was found to have focused on the social sector and F&F Holdings focused on governance structure. After examining the correlation between the ESG core strategies of the investigated fashion companies and the 17 SDGs, the common areas were identified as quality employment, sustainable production and consumption, and climate changes and response. Correlation with the GRI Standards 2021 Index, (GRI 1, GRI 11, and GRI 12 created in 2021) was not reflected. In the future, it will be necessary to have a transparent governance structure that meets global standards, sets measurable goals, and continuously manages them. Other companies should also recognize ESG management processes that embrace various stakeholders and strengthens win-win cooperation to manage risks, and establish mid- to long-term response strategies.

• Journal of Families and Better Life
• /
• v.30 no.6
• /
• pp.167-181
• /
• 2012

This study analyzed consumer's harsh complaining behaviors and firm's reactions toward consumers' harsh complaining behavior, and investigated the differences in the firms' reactions according to the characteristics of counselors and customer service centers. In addition, this study attempted to find a strategy and provide guidance regarding consumer's harsh complaining behaviors. The results of this study are discussed below. First, consumer's harsh complaining attitudes were expressed by crude language, violent language, threats, personal attacks, and claims of a high-ranking social position. Consumer's directive, complaining behaviors were repeated on the telephone, and threats of prosecution or disclosure to the public, exposure of habitual product returns, and requests for interviews with superiorsat the representative firm were made. Second, a firm typologies according to its reaction style toward a consumer's harsh complaining behaviors were as follows: Group 1, having a neutral attitude toward consumers and preparation thoroughly regarding their demands; Group 2, having a negative attitude toward consumers and some degree of preparation toward consumers' demands; and finally, Group 3, having a positive attitude toward consumers but offering insufficient reparation regarding consumers' demands. Third, female counselors, counselors having a certified counselor's license, and those much experience working in labor work were more likely to be in Group 3. Male counselors, part-time counselors, and those having experience of many years were more likely to be in Group 2. Group 1 were more likely to have large number of workers at customer service centers, male counselors, and to have large numbers of educational training programs related to the reactions of consumers in the form of dissatisfaction, complaints, how to offer compensation for injuries to consumers, and issues related to PL(product liability). In addition, Group 1 also had more firm level welfare policies related to hight stress levels of consumer counselors and extra types of support regarding harsh consumers. However, Group 2 members were more likely to provide excessive compensation and rewards to harsh consumers. Finally, to react to consumer's harsh complaint efficiently, it was suggested that firms should not treat consumers as harsh consumers, should react to consumers' complaints sincerely, and should take precautionary management efforts as regards consumer dissatisfaction based on better quality control of products. In addition, it was deemed necessary to formulate a management strategy to train competent consumer counselors with a high quality of counselor skill, having standardized and consistent reaction guidance toward consumer complaints and thorough knowledge of compensation rules for consumer injuries and subsequent guidance.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.4
• /
• pp.203-210
• /
• 2018

The UK is famous for being the first country in Europe to adopt the policies of marketisation regarding social welfare. Numerous other countries, including social democratic countries, have followed suit, and South Korea has also adopted the marketisation of care through the introduction of long-term care insurance. The aim of this study is to examine recent reforms concerning adult social care market in the UK, and to determine policy recommendations to further develop the Korean long-term care insurance market. Findings show that the UK has actively regulated and managed the care market. In particular, after the sudden bankruptcy of nursing homes, the CQC systematically analyzes the risks of bankruptcy of big service providers in terms of financial conditions and quality of services according to the six steps detailed in the Care Act 2014. If some service providers experience high levels of risk, the CQC reports results to local authorities in order to manage the risk of bankruptcy of these service providers. Such reforms in the UK suggest a number of policy measures for South Korea in which the problems of long-term care market are prevalent, including increased system management, introduction of a new inspection system, the expansion of public-based inspection organizations, and disclosure of information by the National Health Insurance Corporation.

• Journal of Digital Convergence
• /
• v.9 no.6
• /
• pp.91-102
• /
• 2011

Smart work is deeply embedded in our contemporary lives. This is called Smart Life. The expansion of communication, caused by smart life is utilized for the political purposes of politicians, political candidates, and political policies. Chiefly, smart life includes improvement in awareness, personal relations, and policy advocacy. Socially, smart life leads the proliferation of issues and civil movement. In particular, smart life has a significant effect on culture. In the case of K-POP, it is disseminated going beyond space time. It enhances economic value added by joining and sharing at the same time. Smart life has numerous advantages such as improving the quality of life, but it might cause inconvenience depending on users because there are differences in acceptance according to generations. Due to the heavy weight on the device, there are some side-effects such as lacking in human thinking, disclosure in private life, lacking in basic securities, increase in information addicts who are anxious when they do not get on the Internet or SNS, and interference with work. However, this inconvenience can change into convenience when users are accustomed to it. Like this, smart life influences politics, economy, society, and culture a lot. Working environment of smart life is a new paradigm, which can generate high performance through working in an exciting and bright atmosphere with easy economy and putting value on results.

• Journal of the Korean Recycled Construction Resources Institute
• /
• v.8 no.2
• /
• pp.227-234
• /
• 2020

Under consideration of construction waste recycling, candidate secondary products applicable for the civil and construction areas can be reliably employed based on the recycling cost analysis. For the validation purpose, probability-based cost analyses were performed to estimate recycling cost profit considering uncertainties. When recycling construction wastes, the costs at each stage are fully dependent on target products to be adopted. To achieve commercialization of each product, its quality has to be improved with economic efficiency through accurate evaluation of input costs. Based on the probabilistic recycling cost analysis, the cost benefit for target products was estimated with waste classification cost, transportation cost to recycling treatment facilities and production cost. All necessary information on the cost analysis were collected from literature, disclosure, and existing recycling companies. In addition, a cost difference between recycled and non-recycled events was made. As a result, a probability-based recycling cost estimate for candidate secondary products was herein presented.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.22 no.2
• /
• pp.67-75
• /
• 2021

The structure of universities needs to be adjusted and reformed to cope with the decrease in admission resources and the quality of education due to the low birth rate and aging population. Such a policy is receiving much attention. To analyze the relative efficiency of private universities in Korea from the perspective of resource and performance, this study evaluated the efficiency of private university operation by applying a DEA(Data Envelopment Analysis) technique. The DEA measurements were compared with the diagnosis results of the department of education (Government) in 2018. The input and output variables used in the research analysis were utilized by the university's notification materials (public disclosure information). An analysis of the operational efficiency showed that 48% (12 universities) of the 25 DMUs (Decision Making Unit) were efficient for DEA-BCC models and that some of the capacity-building universities were operating efficiently. In addition, the DEA analysis found ways to improve inefficient groups through DEA-Additive results. This paper can be meaningful because it confirmed the relative efficiency of private universities and suggested improvement directions through the DEA method, which is characterized by the simultaneous consideration of various input and output factors. This will help apply the limited resources related to the input and output elements of each university.

• Journal of The Korean Association For Science Education
• /
• v.40 no.6
• /
• pp.595-609
• /
• 2020

The purpose of this study is to analyze the experiences of teachers who participated in the development of online science class videos in the context of covid-19, their perception of online science class, and the characteristics of the online science class content developed by teachers. A survey and interviews were conducted with ten elementary school teachers who made online science class videos themselves. Also the characteristics of the online science class were investigated by analyzing the online science class video produced by the participants. As a result, participants in the study recognized the lack of production time, difficulty in filming and editing, concerns over misconceptions, the problem of solving copyrights for existing materials, and the burden of external disclosure. Although it was a teacher who had experience producing online science class video contents, no research participants actively answered the merits of online science class. On the other hand, the study participants cited that the shortcomings of online science classes were that students had fewer opportunities for inquiry and lack of communication or interaction. In particular, these shortcomings were thought to have a great influence on the quality of online science classes, especially in making inquiry classes difficult. Some teachers took a negative view that online science classes could not completely replace face-to-face classes. However, if multiple teachers are presented with supplementary teaching activities that complement the content-based online teaching method, the method of combining online science classes and face-to-face classes is not. Through the analysis of the contents of the online science class, the introduction and arrangement steps of the online science class were similar to the process of the face-to-face science class, but the inquiry step and the conceptual explanation step showed a big difference from the face-to-face science class.

• Journal of Ginseng Culture
• /
• v.5
• /
• pp.32-51
• /
• 2023

Because red ginseng was exported in large quantities to the Qing Dynasty in the 19th century, a large-scale ginseng cultivation complex was established in Kaesong. Sibyunje (時邊制), a privately led loan system unique to merchants in Kaesong, made it possible for them to raise the enormous capital required for ginseng cultivation. The imperial family of the Korean Empire promulgated the Posamgyuchik (包蔘規則) in 1895, and this signaled the start of the red ginseng monopoly system. In 1899, when the invasion of ginseng farms by the Japanese became severe, the imperial soldiers were sent to guard the ginseng farms to prevent the theft of ginseng by the Japanese. Furthermore, the stateled compensation mission, Baesanggeum Seongyojedo (賠償金 先交制度), provided 50%-90% of the payment for raw ginseng, which was paid in advance of harvest. In 1895, rising seed prices prompted some merchants to import and sell poor quality seeds from China and Japan. The red ginseng trade order was therefore promulgated in 1920 to prohibit the import of foreign seeds without the government's permission. In 1906-1910, namely, the early period of Japanese colonial rule, ginseng cultivation was halted, and the volume of fresh ginseng stocked as a raw material for red ginseng in 1910 was only 2,771 geun (斤). However, it increased significantly to 10,000 geun between 1915 and 1919 and to 150,000 geun between 1920 and 1934. These increases in the production of fresh ginseng as a raw material for red ginseng were the result of various policies implemented in 1908 with the aim of fostering the ginseng industry, such as prior disclosure of the compensation price for fresh ginseng, loans for cultivation expenditure in new areas, and the payment of incentives to excellent cultivators. Nevertheless, the ultimate goal of Japanese imperialism at the time was not to foster the growth of Korean ginseng farming, but to finance the maintenance of its colonial management using profits from the red ginseng business.