• Journal of Distribution Research
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• v.16 no.3
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• pp.33-75
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• 2011

The ownership structure of a franchise system is determined by the franchisor's strategic choice. A close look at the extant theories and perspectives in economics and management such as resource scarcity theory, agency theory, transaction cost analysis, and mixed ownership theory reveals that firms choose their ownership structure for the sake of economic efficiency, profit potentials, the chance of survival, and other strategic concerns. The present study, on the basis of strategic choice perspective, reviews the divergent theories of a franchise system's ownership structure and its determinants, thus providing a theoretical framework for comparing the contradictory arguments along the several critical dimensions. We also developed and tested the conflicting hypotheses regarding key determinants of ownership structure including firm's age, size, transaction-specific investments, uncertainty, and risk-sharing propensity. Using a FDD (Franchise Disclosure Document) data set of 543 Korean franchisors, we found that the years in business, the total number of employees, days of training, the inverse of the years of franchising, and the requirement of royalty payment have positive relationships with the proportion of company-owned outlets to total number of outlets. On the other hand, the proportion of company-owned outlets was found to have negative relationships with the total number of outlets and the extent of geographic dispersion of outlets, but to have no significant relationships with the initial investment required and the inverse of contract length. Based on the findings, we provide several theoretical and managerial implications for studying ownership structure of franchise systems.

• Journal of Digital Convergence
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• v.15 no.8
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• pp.95-102
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• 2017

The purpose of this study is to investigate the structural relationship between organizational citizenship behavior and behavioral intention. The purpose of this study is to investigate the relationship between conflicts, organizational citizenship behaviors, and behavioral intentions in order to achieve research objectives. Based on this study, hypotheses were established and the implications and implications of these results were sought. First, the relationship conflicts of hotel employees have significant relationship to organizational citizenship behavior. Second, the relationship conflicts of hotel employees have a meaningful relation to the behavioral intention. Third, organizational citizenship behavior of hotel employees has a meaningful relationship with behavioral intention. As the results show, the company seeks for profit but it is also another way for employees to stay in one job and to make an opportunity to contribute value to the company. As the relationship between the individual conflicts, organizational citizenship behaviors, and behavioral intentions, how to solve the conflict problem is the task of the hotel company based on the human resources. Future research and limitations are needed for the efficiency of this study, but it is necessary to specify samples and specimens through an in-depth review of the specimens.

• Journal of Dairy Science and Biotechnology
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• v.27 no.1
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• pp.13-18
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• 2009

We confirmed methane production and reduction of pollution during anaerobic digestion of milk waste and analyzed the economic potential of using milk waste as a renewable energy source. The milk waste sludge was obtained from the Pasteur milk factory and processed by anaerobic digestion to produce methane. The methane production from two completely mixed tank reactors with an effective capacity of 6 ${\ell}$, 15 days of hydraulic retention time (HRT), and a mid-temperature of $35^{\circ}C$ averaged 4.11 ${\ell}$/day. The total chemical oxygen demand (TCOD) during production decreased from an initial 31,416 mg/${\ell}$ to 13,500 mg/${\ell}$, showing a maximum TCOD removal efficiency of 60%. When HRT was reduced to 12 days, methane production increased by 44% under a high-temperature condition of $55^{\circ}C$. An economic analysis based on these results was applied to a Korean milk factory of typical size and demonstrated that the installation of an anaerobic digester could provide sufficient economic profit.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.9
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• pp.446-453
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• 2018

This study analyzed the effect of related party transactions on the corporate value of Korean firms using panel data regression analysis. We tested the efficient transaction hypothesis and conflict of interests hypothesis which concern related party transactions. Five types of related party transactions were considered, including long term supply contracts, assets and business transfers, affiliate loans, equity investment, and credit offerings. If related party transactions were conducted for the purpose of enhancing corporate efficiency, results would have a positive effect on firm value. If related party transactions were conducted for the purpose of private profits of the controlling shareholders, the results would show a negative effect on firm value. Results were as follows. Firstly, it is confirmed that affiliate loans, equity investment, and credit offerings had negative effects on firm value. This implies that these types of related party transactions used by controlling shareholders for the purpose of their private profit, which supports the conflict of interests hypothesis. Secondly, it was found that long term supply contracts and assets and business transfers had no effect on firm value.

• Journal of KIISE:Computing Practices and Letters
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• v.7 no.6
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• pp.641-652
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• 2001

Most of current internet auction systems are single auction server program that partly automates the function of the conventional auction house. So these systems do not provide sufficient independence, distribution and parallelism between the functions of the conventional auction house. In these suction systems, only some of suction management facilities are automated by the server program, but still users need to execute a repetitive task to monitor the dynamic progress of a certain auction, decide the proper bid price, and submit the bid. Another problem is that they support only the single auctions such as English suction and Dutch auction, but they do not support the double auctions that are superior to the single auction in terms of speed, efficiency, and the fair distribution of profit. In this paper, we present are design and implement of an agent-based continuous double auction system, called CoDABot, in order to overcome the limitations of current auction systems. CoDABot supports the continuous double auction, provides various bidding agents for users to select, and has been implemented with a multi-agent system to realize more independent, and parallel subsystems.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.268-273
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• 2008

Because a procedure is complicated and various related parties participate in the redevelopment and reconstruction project, it can be extended to diverse disputes when the relation with the related parties is smoothly adjusted. In particular, when the dispute occurs in a phase of occupancy after the complete construction, the regional residents-centric association must give up many rights of invisible parts caused by the construction company's profit maximization because they are short of professionalism about the business. Accordingly, this study is aimed at providing the construction project manager's dispute and claim process for responding to the dispute or claim reasonably and for obtaining the client's (association) rights for the reconstruction project, and at developing the checklist for obtaining the necessary documents by each phase, when the dispute or claim is made by the association against the construction company after the completion of construction. Through this study, the association can obtain the related documents in advance and can implement the reasonable response data when the dispute or claim occurs due to it. Also, it will enable the construction manager to analyze the project costs reasonably and will reduce the estimated wastes. That is, the work efficiency is expected to be improved.

• Journal of the Korean association of regional geographers
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• v.13 no.6
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• pp.674-694
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• 2007

Recently private procurement projects for urban infrastructure have been emphasized and introduced by government(both central and local) as an important method to supplement public budget shortage and to improve creativity and efficiency in its construction and operation, and hence to promote regional development. But these private procurement projects seem to be implemented under the neoliberal condition of urban policy for private capital to extend its sphere of investment and to ensure its opportunity of profit. Such private procurement projects for urban infrastructure have been legislated and widely applied since 1994 in S. Korea, but in recent years they have triggered out a variety of serious problems. In results of this study on the private procurement for construction and operation of Burnan Road in Daegu, it can be pointed out, it has led serious problems such as overestimation of traffic volume in plan, over-appropriation of construction cost and appurtenant business, irYational operation and account of the operating firm, problem in refinancing and change in contents of practical agreement, and over-compensation of minimum operation revenue. Some measures that can be considered as alternatives to resolve those problems and to operate more rationally the Buman Road include those of increasing traffic revenues, of reducing supports of public financing, and withdrawal of (part or whole of) operational right from the private firm.

• The Journal of the Korea Contents Association
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• v.16 no.12
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• pp.667-676
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• 2016

The purpose of study was to determine the differences in organizational culture between social enterprises and commercial enterprises and assess the impact on organizational performance in Korea. Main results are as follows. First, Social enterprises employ a lot of low-imcome women and the elderly worker. Second, rational culture is high in profit businesses, but cultural group is high in social enterprises. In commercial enterprise, productivity and efficiency, planning and goal setting, assessing goals and looking for the evaluation of the performance are important. and in social enterprise, affinity and participation, employees individual development and group morale and cohesion, emphasis on mutual cooperation and trust are important. In addition, both social performance and economic performance, social enterprises are higher than in commercial enterprises. Social enterprises are operating transparently based on workers participation and understanding is expected that economic performance is also highly recognized. Third, social performance is higher development and group culture are higher in commercial enterprises, and development, group and hierarchy culture are higher in social enterprises. Economic performance is higher reasonal culture is lower in commercial enterprises, and group culture is higher in social enterprises. Therefore, the social enterprise workers are recognizing social and economic performance are higher than commercial enterprise workers. In short, social enterprises is making discriminatory organizational culture, and this is contributing to achieving organizational performance.

• Korean journal of communication and information
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• v.46
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• pp.387-419
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• 2009

The concept of strategic group is defined as an aggregate of corporations utilizing similar strategies with similar resources. It becomes a kinds of contact point in the middle of corporation and industry between the industrial organization theory and the strategic management theory. This study tried to apply the strategic group model, which has been a main theory in the management studies, to program providing industry in Korea. This study shed lights upon research problems such as number of strategic groups, differences of strategic variables among the groups, finally differential performances according to strategic groups. 40 commercial broadcasting companies were analyzed to find answers. 9 strategic groups were drawn as a result of cluster analysis. Major variables which contribute to making groups were operating efficiency(4.05), pricing(3.83), size(number of system operator, 3.56), reliance on license revenue(2.58), horizontal integration(number of sister networks, 2.16) in order. An analysis of variance between performance variables has shown statistical significance regarding total net revenue per subscriber, however, insignificances statistically in regards to ratio of operating profit to net sales, cash Abstracts 687 flow ratio. Some studies in the past insisted that history variable played an important role to classifying strategic groups. However, this study found that the history didn't exert significant influence on either the group classification itself or performance.

• Journal of the Korean Institute of Gas
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• v.18 no.4
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• pp.13-20
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• 2014

In natural gas distribution system, gas pressure is regulated correspond to requirement using throttle valve which is releasing huge pressure energy as useless form. The waste pressure can be recovered by using turbo machinery devices such as a turbo expander. In this process, excessive temperature drop occurs due to Joule-Thompson effect during the expansion process. Installing natural gas boiler before or after the turbo expander prevents temperature drop. Fuel cell or gas engine hybrid system further improve the efficiency, but 1~2% of total transporting natural gas is used for operating the hybrid system. In this study, a heat pump system is proposed as a preheating device which can be operated without using transporting natural gas. Thermodynamic analysis on evaporating and condensing temperatures and refrigerants is conducted. Results show that R717 is proper refrigerant for the hybrid system with high COP and low turbine work within the defined operating conditions. In domestic usage in Korea, the heat pump system has more economic feasibility owing to natural gas being imported with a high price of LNG form.