• Journal of East Asia Management
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• v.4 no.1
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• pp.23-51
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• 2023

We investigate whether the association between management overconfident tone and the level of audit effort measured by audit fees and hours differs depending on the level of earnings management. Prior studies suggest that firms led by overconfident managers are likely to initiate risky investments, report low quality financial statements, and have material weaknesses in internal control system. These characteristics, combined together, result in higher audit risk. At the same time, auditors assess audit risk based on the quality of financial reporting, measured by level of earnings management. As a result, the assess audit risk is likely to reflect the combined effect of management overconfidence and the level of earnings management. In this paper, we investigate whether auditors differentiate the effects of real earnings management (REM) and accrual-based earnings management (AEM) when they assess the audit risk related management overconfident. Using the CEO's letter published in 2018, we measure the CEO's tone representing the degree of overconfidence (i.e., activity). Based on this measure, we find that the positive association between managerial overconfident tone and audit effort is more pronounced as the level of REM is higher. However, we find that the baseline association does not vary depending on the level of AEM. These results suggest that auditors consider the managerial overconfident severer when such characteristic accompany the higher level of REM, which can be outcome of aggressive business decisions possibly leading to the higher audit risks. We further find that these results are stronger for Big 4 auditors and continuing auditors. This paper contributes to the literature and practice as follows. First, we provide contextual evidence on how auditors reflect managerial characteristics in the audit process by documenting that auditors actively increase their audit efforts only when overconfident managerial characteristics are highly likely to lead to audit risk. This result suggests that auditors conduct external auditing considering both the efficiency and effectiveness of the audit process. Second, we suggest that auditors use information obtained from a wide range of sources to identify audit risks. Our results provide evidence of how the auditing standards, which do not provide detailed guidelines for audit risk assessment, are being applied in practice. Finally, our results also enhance the understanding of how audit fees are determined. Combined with the studies related to audit pricing, we provide the important reference for discussion between the auditor and the auditee about the audit fee that has created acute tension after the enforcement of the new External Audit Act.

• Journal of Korea Trade
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• v.27 no.1
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• pp.139-158
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• 2023

Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.1
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• pp.107-118
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• 2024

The purpose of this paper is to investigate the factors affecting digital entrepreneurship and digital innovation and the moderating effect of technology absorptive capacity. To achieve the research purpose, the contributing factors are set as technical characteristic (digital technology capability), organizational characteristics (digital learning capability and financial readiness), and institutional pressures (coercive pressure, mimetic pressure, and normative pressure). The research model and hypothesis are established based on the theoretical background of digital entrepreneurship, digital innovation, institutional pressure, and technology absorptive capacity. The proposed model is analyzed by targeting 104 companies. Smart Partial Least Square (PLS) 4.0 is utilized for deriving the study results. The results of hypothesis testing are as follows: First, digital technology capability, digital learning capability, financial readiness, and institutional pressure have a positive influence on digital entrepreneurship. Second, digital entrepreneurship has a positive impact on digital innovation. Finally, technology absorptive capacity has a moderating effect in influencing digital entrepreneurship on digital innovation. The results of this study emphasize the need for digital entrepreneurship in the era of the Fourth Industrial Revolution and digital transformation, and may provide strategic implications for companies that desire to achieve digital innovation through digital entrepreneurship.

• Journal of Korean Home Economics Education Association
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• v.24 no.4
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• pp.1-18
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• 2012

This study investigated the mate selection preferences of single female teachers by investigating the desired traits in socioeconomic, physical attractions, psychological traits and family roles of their prospected marital partner, in order to explore the current trends in homogamous marriage. A questionnaire was distributed to 295 unmarried female teachers selected by convenience sampling from the various cities. The teachers pursued homogeneity in age, educational attainment, religion, and occupation while they preferred partners with higher income level. In terms of physical assets, the attraction that the teachers felt towards the partner was the most important physical appearances. The respondents preferred partners who are masculine and an androgynous partner. The teachers held high expectations towards their future spouses in that they desired to share the roles of emotional, financial support, child care and kin keeping. A partner who shared modern sex role attitudes was preferred over someone who held traditional one. The pursuit for overall homogeneity reflects that the teachers seek for equality in their relationships with prospected marital partners by exchanging similar characteristic.

• Journal of Digital Convergence
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• v.18 no.10
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• pp.147-162
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• 2020

The purpose of this study is to present practical improvement plans for policy fund support in national policy banks through an analysis of the efficiency of policy fund support. It targets small and medium-sized enterprises(SMEs) that received policy funding from national policy banks in '17 and '18 consecutively. As for the analysis method, characteristic analysis and corresponding sample T-test was performed. The analysis results are as follows. First, as a result of analyzing the characteristics of small and medium-sized enterprises, most of the financial funds were concentrated on the manufacturing industry. By region, the western region of Gyeonggi Province, by credit rating, was A grade, technology grade was T5, and the use of funds was mostly concentrated on facility funds. Second, as a result of efficiency analysis, profitability had a positive effect on total capital return, stability had a positive effect on interest compensation ratio, and activity had a positive effect on total capital turnover. In conclusion, it is expected to provide practical improvement plans to support policy funds to influence the growth and distribution of funds appropriate to the needs of SMEs.

• Korean small business review
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• v.41 no.1
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• pp.75-96
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• 2019

This study used age, education, major, working period as CEO's characteristics and examine relationship between these characteristics and R&D Investment. Furthermore this study examined how CEO should react in terms of R&D investment, which is effected by CEO's characteristic in the market. The empirical results are following. (1) When CEO's age are young, they spend much money for R&D investment. And R&D investment which is determined by young CEO has a positive effect on relation of firm value. (2) A higher educational background has a positive effect on R&D investment and will create higher firm value. (3) When CEO's major is competitive in the same industry, it has a positive relationship with R&D investment and its firm value is bigger than though. (4) When CEO working period is long, they showed active to R&D investment. On the other hand, the firm value decreased. This study focused on analyzing the relationship between characteristics of CEO and R&D Investment, furthermore, how R&D investment which effected by CEO's characteristic is contributing in creating the firm value. This results indicate that CEO's characteristics reflect R&D investment and value of venture business. Therefore, CEO's characteristics should be considered financial information and firm value in the market.

• Journal of Digital Convergence
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• v.11 no.2
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• pp.257-262
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• 2013

In mobile market which has been developed drastically, short distance mobile Near Field Communication is becoming the conversation topic. Google adopted this NFC technology to Android 플랫폼 for securing the leadership and many another countries including domestic companies are putting spurs to develop service and technology by connecting mobile carrier and the financial. Within this circumstance, most noticeable issue is securing stability of nfc application service. Android 플랫폼 is operating system of mobile device and also a software stack which is required limited hardware and immediate response. However, since its structural characteristic which is suitable for limited hardware, the response is not quite stable for real time process. That is, this paper researches by analyzing real time response of NFC related library provided from Android 플랫폼 and applying the result to NFC application for securing stable data process and response.

• Asian Pacific Journal of Cancer Prevention
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• v.13 no.11
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• pp.5627-5632
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• 2012

Background: The aim of the study was to determine the prevalence of shisha smoking and associated factors among medical students in Malaysia. Materials and Methods: A cross-sectional study was conducted at the Management and Science University from December 2011 until March 2012. The questionnaire consisted of five sections including socio-demographic, social environment, knowledge about shisha, psychosocial factors, and personal shisha smoking behavior. Obtained data were analyzed using Statistical Package for the Social Sciences (SPSS 13). T-test was used to determine the relationships between shisha smoking and socio-demographic characteristic. Results: A total number of 300 medical students participated in this study. Mean age was $22.5{\pm}2.5$ years. The majority were female, Malay, single, from urban areas (67%, 54%, 97%, 73%; respectively). The prevalence of shisha smoking among medical students was found to be 20%. The study revealed that many students believed that shisha does not contains nicotine, carbon monoxide, does not lead to lung cancer, dental problems and does not lead to cardiovascular diseases (25%, 20.7%, 22.3%, 29%, 26.7%; respectively). Age and sex were found to be significantly associated with smoking shisha status among medical students (p=0.029, p<0.001; respectively). Furthermore, having parents, siblings and friends smokers of shisha were found to be significantly associated with shisha smoking status (p<0.001, p<0.001, p<0.001; respectively). Furthermore, family problems, problems with friends, financial problems and university life were found to significantly associated with shisha smoking status among medical students (p<0.001, p=0.002, p<0.001, p=0.002; respectively). Conclusions: There is a high prevalence of shisha smoking and a poor knowledge about its impact on health among medical students. More attention is needed to focus on medical education in this regard. The policies that are currently employed in order to reduce the cigarettes smoking should be applied to shisha smoking and shisha products.

• The Korean Journal of Community Living Science
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• v.15 no.4
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• pp.127-136
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• 2004

Local fairs are often part of the economic development strategy of rural areas. This study aims to find out marketing strategies for promoting the sales of regional specialty products through local festivals in rural Korea. The data were collected in late 2003 (from a sample of interviews and surveys from 351 visitors. The data were analyzed using the SPSS computer program. The results were as follows; First, the factors that visitors were considered in purchasing were quality (49.5％), commemorative value (36.9％), and reliability (33.0％). And the top reasons cited for not buying were lack of distinction (45.1％) and high prices (26.6％). The discount rates expected in markets was 16.8％. Second, 49.8％ of visitors has spent over 10,000 won and their purchase pattern has been for themselves and their family. Third, the public organizations for certi(ication for visitors were the National Agricultural Cooperative Fedration (37.9％) and the Ministry of Agriculture and Forestry (MAF) (22.5％). In conclusion, it was important for local stakeholders to provide more locally-manufactured, seasonal and traditional food, and to plan more locally characteristic events for their fairs. Further recommendations have included having a guide showing pricing and quality standards for products bought at rural fairs, developing product ideas for inducing impulse purchases, active promotion and marketing at event sites, and setting a standard system of warranties on products under the certification of the local authorities and with the financial support of the MAF Such recommendations were aimed at increasing the sale of traditional and regional specialty products at local festivals.

• The Korean Journal of Emergency Medical Services
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• v.7 no.1
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• pp.109-118
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• 2003

With the rapid development of information and communication technology, a lot of multi-media learning programs are being developed and reported in the field of Emergency medicine both home and abroad. In this connection, this study was aimed at developing a foreign-body airway obstruction courseware in adults for EMT. The development period of CAI courseware lasted from May 2003 through November 2003. Among CAI courseware patterns, private instruction and repeat practice and simulation patterns were used as an instruction-learning strategy. The learning contents of the CAI courseware consisted of five chapters concerning (1) A relief of partial FBAO in the responsible victim, (2) A relief of complete FBAO in the responsible victim, (3) In case of unconsciousness in the responsible victim without removing all foreign body, (4) In case of consciousness in all victims after getting removed all foreign body and (5) A complete airway obstruction in victims without consciousness on the basis of assess responsiveness and the degree of airway obstruction. The way to use this courseware, with just a click on one specific chapter, was developed to proceed a course with progressive algorithm, a method of solving problems by choosing one between two situations. A characteristic of this CAI courseware is the enhanced efficiency of an instruction-learning method by providing an opportunity of choice based on situations in its effort to encourage learners to use a self-initiated learning method, not one-way method and to enhance problem solving skills among situations. Moreover, this courseware went through the diverse phases such as development, application, feedback in connection with learning process by practicing teachers, so that the courseware could be used frequently in the future. The contents of this courseware were written with the web, so that, if necessary, the contents could be continuously modified and complemented and handed out in the form of CD-ROM. This study indicates that the development of a variety of CAI courseware requires institutional and financial assistance and initiatives reflecting a reality in terms of learning process, technical assistance and resources.