• International Journal of Internet, Broadcasting and Communication
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• v.15 no.1
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• pp.171-176
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• 2023

What we have in common worldwide today is economic difficulties due to high inflation and uncertainty in the financial industry. The root cause of this is the war between Russia and Ukraine. The war between Russia and Ukraine is not simply a war between two countries. The United States and the European Union are providing military aid such as missiles to Ukraine, and Russia is attacking Ukraine by introducing UAVs (unmanned aerial vehicles) from Iran. A prominent weapon in this Russia-Ukraine war is the UAVs used in Russia. It is predicted that the form of war using UAVs will gradually expand in the future based on stealth. In addition, UAVs will continue to be used due to the fact that they can cause serious damage to the other country without harming their own lives, and because they have good cost-effectiveness. In this study, UAVs based on autonomous driving were studied. The target countries of the study include the United States, the European Union, China, and Iran, and the UAVs used in these countries have characteristics that can represent the world. In this study, the main specifications of major UAVs in use in major countries were investigated. In addition, the future technology and development direction were described through specifications and characteristics of UAVs currently in operation in major countries.

• Journal of the Korean Society of Earth Science Education
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• v.4 no.3
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• pp.278-296
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• 2011

The purpose of this study is to examine the pedagogical content knowledge (PCK) elements and the changes in the science lesson planning and implementation difficulties experienced by high-career elementary school teachers with over 20 years of educational experience through the instructional consulting case of the Seoul City Office of Education Scholarship Support Group in order to find implications on effective instructional consulting support plan for improving the science teaching professionalism of high-career elementary school teachers. The result of this study is as follows : First, the pedagogical content knowledge (PCK) elements on the science lesson planning and implementation difficulties experienced by high-career elementary school teachers with over 20 years of educational experience were related to teaching strategy and they experienced difficulties in lesson content organization using lesson model and experiment facilitation and questioning, as well as in the area of interest and motive management that are definitional characteristic of learner in the learner element. Second, as for the changes in the PCK through science instructional consulting, they recognized the importance of the designing and experimenting process as students become the subject in the experiment facilitation in lesson, and they ended up attempting the postscript for promoting the thinking power of students. In addition, it was found that not only the cognitive characteristic but also the definitional characteristic of learner is important in science lesson and that students' motive is also an element that needs to be continuously managed. Third, as for effective instructional consulting plan for enhancing the science teaching professionalism of high-career elementary school teachers, it was revealed that it is necessary to first develop lesson expertise improvement consulting program that takes into account of teaching profession advancement phase of high-career teachers, and establish instructional consulting system and human resource pool of high-quality consultants based on the administrative and financial support from the Office of Education. The academic significance of this study is in the fact that it examined and searched for support plan on science teaching professionalism of high-career elementary school teacher, but a more extensive and in-depth study is needed since there is a limitation in this study on the object of study and the period.

• Journal of Families and Better Life
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• v.33 no.4
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• pp.19-32
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• 2015

The purpose of this study is to examine the influence of the organizational characteristic and workers characteristics of Family Business Organization on its Business Performance. The subjects of this study were workers of healthy family support centers and multicultural family support centers. A survey was conducted from July 30th to September 30th. A total 372 materials were used for analysis of final data and SPSS(Statistical Package for the Social Sciences) WIN 18.0 program was employed in analyzing the collected data. As the result of analysing the effect of organizational characteristics and culture and characteristics of workers on business performance through hierarchical regression analysis, higher performance was achieved when the agency's organizational culture has the characteristics of a developed culture, and when the operating body is a school principal corporation rather than a non-profit corporation, and in the city rather than farming town, having enough information and external resources at the center, and when the job satisfaction of workers are high, and when organizational culture is more hierarchical. There were difference in the result of analysing the effect of organizational characteristic and culture and characteristic of workers on business performance. The level of service and business value of Family Service Organization was higher when the agency's organizational culture has the characteristics of a developed culture, hierarchical culture and agreement culture, and when operating body is a school principal corporation rather than a non-profit corporation, having enough information and external resources at the center, and the administrative skills of workers are higher. Business volume is increased when the operating body is a school principal corporation rather than a non-profit corporation, and in the city rather than farming town, and when the agency's organizational culture has the characteristics of hierarchical culture and agreement culture, having enough external resources at the center, and the practicing ability of workers are higher. When it comes to business efficiency, it is increased when the agency's organizational culture has the characteristics of developed culture and the job satisfaction of workers are high, having enough external and financial resources at the center. Therefore we will need to enhance business performance through improved management and job satisfaction of employees in organizational culture.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.119-132
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• 2014

This study analyzed the failure prediction model of the firms listed on the KOSDAQ by considering whether there are embezzlement, malpractice and the largest shareholder changes or not. This study composed a total of 166 firms by using two-paired sampling method. For sample of failed firm, 83 manufacturing firms which delisted on KOSDAQ market for 4 years from 2009 to 2012 are selected. For sample of normal firm, 83 firms (with same item or same business as failed firm) that are listed on KOSDAQ market and perform normal business activities during the same period (from 2009 to 2012) are selected. This study selected 80 financial ratios for 5 years immediately preceding from delisting of sample firm above and conducted T-test to derive 19 of them which emerged for five consecutive years among significant variables and used forward selection to estimate logistic regression model. While the precedent studies only analyzed the data of three years immediately preceding the delisting, this study analyzes data of five years immediately preceding the delisting. This study is distinct from existing previous studies that it researches which significant financial characteristic influences the insolvency from the initial phase of insolvent firm with time lag and it also empirically analyzes the usefulness of data by building a firm's fail prediction model which considered embezzlement/malpractice and the largest shareholder changes as dummy variable(non-financial characteristics). The accuracy of classification of the prediction model with dummy variable appeared 95.2% in year T-1, 88.0% in year T-2, 81.3% in year T-3, 79.5% in year T-4, and 74.7% in year T-5. It increased as year of delisting approaches and showed generally higher the accuracy of classification than the results of existing previous studies. This study expects to reduce the damage of not only the firm but also investors, financial institutions and other stakeholders by finding the firm with high potential to fail in advance.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.51-84
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• 2008

We investigate the signaling effect of repurchase preceding new equity issue using Korean data. In a short time span, firms announce stock repurchases and equity offerings. The proximity of two events in Korean firms indicates that those are not independent of each other. In this paper, we test the signaling effect of repurchase on equity offerings on the two measures. One is announcement effect, which is measured as CAR(0, +2). The other is the effectiveness which is measured as CAR(0, +30) because the price movement during this window influences on the price of new issues. Previous studies that stock repurchase convey positive signal to equity offerings-Billet and Xue(2004) and Jung(2004)-construct sample without the limit of time interval between two events. This causes the unclear relation between those because of the long time interval. In this study we consider only samples of being within one year each other to reduce this problem and clarify the signal of repurchase on equity offerings. Korean firms are allowed to repurchase own shares with two different method. One is direct repurchase as same as open market repurchase. The other is stock stabilization fund and stock trust fund which trust company or bank buy and sell their shares on the behalf of firms. Generally, the striking different characteristic between direct repurchase and indirect repurchase is following. Direct repurchase is applied by more strict regulation than indirect repurchase. Therefore, the direct repurchase is more informative signal to the equity offering than the indirect repurchase. We construct two sample firms- firms with direct repurchase preceding-equity offerings and indirect repurchase-preceding equity offering, and one control firms-equity offerings only firms-to investigate the announcement effect and the effectiveness of repurchases. Our findings are as follows. Direct repurchase favorably affect the price of new issues favorably. CAR(0, +2) of firms with direct repurchase is not different from that of equity offerings only firms but CAR(0, +30) is higher than that of equity offerings only firms. For firms with indirect repurchase and equity offerings, Both the announcement effect and the effectiveness does not exist. Jung(2004) suggest the possibilities of how indirect stock repurchase can be regarded as one of unfair trading practices on based on the survey results that financial managers of some of KSE listed firms have been asked of their opinion on the likelihood of the stock repurchase being used in unfair trading. This is not objective empirical evidence but opinion of financial managers. To investigate whether firms announce false signal before equity offerings to boost the price of new issues, we calculate the long-run performance following equity offerings. If firms have announced repurchase to boost the price of new issues intentionally, they would undergo the severe underperformance. The empirical results do not show the severer underperformance of both sample firms than equity offerings only firms. The suggestion of false signaling of repurchase preceding equity offerings is not supported by our evidence.

• Journal of Internet of Things and Convergence
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• v.8 no.3
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• pp.1-10
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• 2022

The purpose of this study was to investigate how the characteristics of mobile-based financial platforms have an impact on the intention to use loan service users. In addition, it was attempted to investigate whether usefulness and ease of use had a mediating effect in the relationship between each characteristic of the mobile financial platform on the intention to use the loan service. Data collection was conducted from March 1 to April 30, 2022, and 200 people participated in the study. Analysis methods were frequency analysis, exploratory factor analysis, reliability analysis, correlation analysis, hierarchical multiple regression analysis, and three-step mediation regression analysis. The research results are as follows. First, the influence of user factors, technical factors, and environmental factors of a financial platform on the intention to use a mobile loan service was found to be ubiquity in user factors, reliability in technical factors, and facilitation conditions in environmental factors. Second, in the relationship between convenience and intention to use user factors, usefulness had a completely mediating effect. Third, in the relationship between reliability of technical factors and intention to use, usefulness showed a partial mediating effect. Fourth, in the relationship between the social impact of environmental factors and facilitation conditions and intention to use, the usefulness showed a partial mediating effect. Fifth, ease of use showed a completely mediating effect in the relationship between convenience and intention of use of user factors. Sixth, in the relationship between reliability of technical factors and intention to use, ease of use showed a partial mediating effect. Seventh, in the relationship between the social impact of environmental factors and intention to use, ease of use showed a partial mediating effect, and in the relationship between facilitation conditions and intention to use, ease of use showed a fully mediating effect. Through this study, we tried to present basic data on the determinants of the user's acceptable intention to use the mobile loan service.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.95-126
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• 2003

This paper introduces multifractal processes and presents the empirical investigation of the multifractal asset pricing. The multifractal stock price process contains long-tails which focus on Levy-Stable distributions. The process also contains long-dependence, which is the characteristic feature of fractional Brownian motion. Multifractality introduces a new source of heterogeneity through time-varying local reqularity in the price path. This paper investigates multifractality in stock prices. After finding evidence of multifractal scaling, the multifractal spectrum is estimated via the Legendre transform. The distinguishing feature of the multifractal process is multiscaling of the return distribution's moments under time-resealing. More intensive study is required of estimation techniques and inference procedures.

• The Journal of Industrial Distribution & Business
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• v.10 no.8
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• pp.33-44
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• 2019

Purpose - As the scope of existing digital transformation expanded to various degrees, the Fourth Industrial Revolution came into being. In 2016, Klaus Schwab, Chairman of the World Economic Forum (WEF), said that the new technologies that lead the fourth industrial revolution are AI, Block chain, IoT, Big Data, Augmented Reality, and Virtual Reality. This technology is expected to be a full-fledged fusion of digital, biological and physical boundaries. Everything in the world is connected to the online network, and the trend of 'block chain' technology is getting attention because it is a core technology for realizing a super connective society. If the block chain is commercialized at the World Knowledge Forum (WKF), it will be a platform that can be applied to the entire industry. The block chain is rapidly evolving around the financial sector, and the impact of block chains on logistics, medical services, and public services has increased beyond the financial sector. Research design, data, and methodology - Figure analysis of data and social science analytical software of IBM SPSS AMOS 23.0 and IBM Statistics 23.0 were used for all the data researched. Data were collected from hotel employees in China from 25th March to 10th May. Results - The purpose of this study is to investigate the effect of the block chain characteristics of the existing hotel reservation system on the intention to use and to examine the influence of the block chain characteristics of the hotel reservation system on the intention to use, We rearranged the variables having the same or similar meaning and analyzed the effect of these factors on the intention to use the block chain characteristic of the hotel reservation system. 339 questionnaires were used for analysis. Conclusions - There are only sample hotel workers in this study, and their ages are in their 20s and 30s. In future studies, samples should be constructed in various layers and studied. In this study, the block chain characteristics are set as five variables as security, reliability, economical efficiency, availability, and diversity. Among them, Security and reliability made positive effects on the perceived usefulness. Also, security and economics did on the perceived ease. Availability and diversity did on both perceived usefulness and perceived ease. Perceived ease did on perceived usefulness. And perceived ease and perceived usefulness did on user intent. But security and economics did not on the perceived usefulness

• New & Renewable Energy
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• v.8 no.2
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• pp.33-43
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• 2012

Why solar companies preferred vertical integration of whole value chain? Major solar companies have built internally strong vertical integration of entire PV value chain. We raise a question whether such integration increases the corporate value and whether market situation affects the result. To test these questions, we conducted multi-variant analysis where characteristic factors mainly affect the corporate value measured in terms of Tobin'Q, based on the financial and non-financial data of PV companies listed in US stock market between 2005 and 2010. We hypothesize that since integration increases the overall efficiency but decreases the flexibility to adjust to various market situation, the combined effect of the efficiency gain and the flexibility loss ultimately determines the sign of integration effect on the corporate vale. We infer that the combined effect will be influenced heavily by business cycle, as in boom market (Seller's market) the efficiency gain may be larger than the flexibility loss and vice versa in bust market. We test whether the sign of combined effect changes after the year of 2009 and which factors influence most the sign. Year of 2009 is known as the year when market shifted from Seller's to Buyer's market. We show that 1) integration increases corporate value in general but after 2009 integration significantly decreases the value, 2) the ratios such as Production/Total Cost, Cash turnover period chosen for reversal of the flexibility measure are negatively affect Tobin's Q and especially stronger after 2009. This shows the flexibility improves corporate value and stronger in the recess period (Buyer's market). These results imply that solar company should set up integration strategy considering the tradeoff between efficiency and flexibility and the impact of the business cycle on both factors. Strategy only based on the price competitiveness determined in boom time can bring undesirable outcomes to the company. In addition, Strategic alliances in some value chains as a flexible bondage should be taken in account as complementary choice to the rigid integration.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.1-32
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• 2008

This study examines the changes and determinants of cash to assets ratios(cash ratios) by analyzing 14,016 Korean manufacturing firms sample for the period of $1999{\sim}2004$. The major findings can be summarized as follows. First, the average cash ratios for Korean manufacturing firms have increased from 4.7 percent of 1999 to 5.2 percent of 2004. In addition, the average cash holdings per firm also have increased from 4.3 billion Won to 8.0 billion Won during the same period. However, the capital expenditures relative to cash ratios or operating cash flow have decreased significantly, confirming the notion that physical investment of Korean manufacturing sector has been shrinking recently. Second, in regression tests with panel data, the coefficients of target adjustment variables show the expected negative signs, but coefficients of the deficit of fund variables show the unexpected positive signs. Thus, the evidence seems to be supportive of static tradeoff model of cash holdings. Third, in regression tests to find the determinants of cash ratios, most of the variables show similar results as the previous studies. However, in terms of adjusted coefficient of determination and F-statistic, the firm-characteristic variables suggested by static trade-off theory have more explanatory power than the variables suggested by pecking order theory.