• Management & Information Systems Review
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• v.33 no.3
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• pp.167-187
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• 2014

While Korean GAAP had detailed regulations for the measurement and disclosure of operating income in the past, K-IFRS did not provide specific rules for operating income until 2011. Some firms that adopted K-IFRS before 2011 did not disclose or calculated operating income in an inconsistent manner although operating income is usually considered as one of the core information items to assess firm valuation. Inconsistency in firms' treatment of operating income invoked much criticism from diverse users of financial statement. The Korean Accounting Institute (KAI hereafter) revised the K-IFRS rules relevant to operating income in September 2010 in response to the voices raised by the business community, whereby the operating income number is allowed to be calculated in conformity with the previous K-GAAP. This study was motivated by the revision of K-IFRS and aims to provide a clue on the validity of such policy decision. To achieve the research objective, we test the relative value relevance of the alternative operating income numbers under K-IFRS versus K-GAAP. Our main findings are as follows. The value relevance of operating income reported before K-IFRS is proved to be higher than after K-IFRS. K-IFRS operating income adjusted to the previous K-GAAP has greater explanatory power for market values relative to one calculated under the K-IFRS regime. In an additional analysis, the sample was decomposed according to whether the operating income under K-IFRS is greater than under K-GAAP. The difference in the value relevance of K-IFRS versus K-GAAP operating income is significant only in the subsample consisting of firms which reports higher operating income under K-IFRS compared to K-GAAP. Also, the firms which would have reported negative operating income on a consecutive basis are more likely to have chosen K-IFRS, resulting in higher numbers than otherwise. It is likely that firms facing the threat of delisting due to consecutive operating loss reporting are more likely to have adopted K-IFRS disclosure rules by which they could report higher operating income numbers. To sum up, these results corroborate the limitation inherent in the K-IFRS regarding operating income disclosures. This paper suggests that the recent revision of K-IFRS implemented by KAI is likely to mitigate some of afore-mentioned limitations effectively.

• Journal of agricultural medicine and community health
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• v.31 no.1
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• pp.21-34
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• 2006

Objectives: The purpose of this study was to investigate the knowledge, attitude and practice toward sanitary administration of the new restaurateurs, to carry out the sanitary management of business for improvement of sanitary level, and to provide basic data which were necessary for sanitary education of the restaurateurs. Methods: The self-recording survey on the attitude and the knowledge toward the sanitation, the sanitary administration, and its education was conducted against new 393 restaurateurs by the administrative division of Gwangju city in charge of the food industry which put in the regular sanitary education annually for the new restaurateurs. Results: In regard to food sanitation, some 87.9% to 94.4% got the right knowledge about the reason and precaution of food poisoning, storage methods of frozen or cold food, and the disposal of product after expiration of validity term. But it was about 56.0% to 63.0% who knew right about the cause and the major precaution of food poisoning, storage temperature in the refrigerator. 30.6% of the subject placed an emphasis on personal sanitation of the workers as the most important thing in the sanitary management. 83.6% replied that it was necessary to improve the sanitary level. Concerning the health examination, 78.3% replied it was needed. 76.4% pointed the need for education, but respondents with higher educational level less emphasized its needs. It was most frequently pointed out by 71.6% restaurateur's poor awareness about it. 36.7% indicated the environmental sanitation like facilities in the restaurants as the first thing to be improved. The rate of personal sanitation was 43.7%. Conclusions: To improve the poor sanitary conditions of the food service business, it was recommended to offer institutional backing and financial aid from administrative office, to encourage restaurateurs to take pride in their job, and to conduct the sanitary education effectively by the technical education institution.

• Journal of The Korean Society of Grassland and Forage Science
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• v.27 no.4
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• pp.297-312
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• 2007

This study is conducted to evaluate economical value of Jeju grassland and validity of its preservation, and draw up several measures to support. To measure its economical value, this study examined its environmental value and social and cultural value. For environmental value, this study used replacement method while it applied CVM method, a widely used method, to assess social and cultural value and two-level two-best choice selection method, which ask questions by assuming virtual circumstances to avoid reflecting some biased opinions. Jeju grassland has multiple functions-environmental functions such as preventing soil corrosion and flood, handling animal excrement, and purifying air, and social and cultural functions such as promoting physical and mental health and providing recreation places. From the results of the feasibility study, Jeju grassland's annual multiple functions are assessed to have a total $397,115{\sim}418,995$ million won worth. In addition, it is found that Jeju visitors recognize Jeju grassland for its functions to contribute to public interests. That is, they think it can provide attractive views and educational and recreational places and promote emotional development. Especially, many people presented their ideas that it be continuously preserved since it is worthwhile for us and our next generations. To preserve grassland's cultural resource, which create a huge economic value like this, the Government has to support a certain amount of financial aid for turning to a better grassland environment and its maintenance to realize environment-friendly livestock farming on Jeju Island and promote its tourism industry and consequently, add more value to Jeju.

• Journal of Hospice and Palliative Care
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• v.7 no.1
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• pp.17-28
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• 2004

Purpose: Even though there have been various efforts for the dying with dignity of terminal patients, no researches focused on the public attitudes. Methods: In February 2004, we sampled 1,055 persons over 20 years of age from the sixteen cities and local districts of Korea through the quota sampling method according to their gender, age, and location. We conducted a telephone survey with a structured questionnaire on the attitudes toward dying with dignity and hospice palliative care. Results: The most important conditions for the dying with dignity on the patients' views were 'removing burdens for other people' (27.8%). Over the half of the samples chose their home as a preference for place of death (54.8%). 82.3% of the respondents agreed to the idea of withdrawing the medically futile life-sustaining treatment. Fifty seven percents of the answered public said that they intended to use the hospice service in case of terminal illness. Eighty percents thought that health care insurance should cover hospice service, and 80.9% gave positive response to the necessity of advance directives. Respondents emphasized 'the financial support for the terminal patients' (29.8%), 'covering hospice service with health insurance' (16.5%), and 'the education and public relation for settlement of desirable dying culture and hospice service' (15.9%) as the roles and responsibilities of the government for the dying with dignity. Conclusion: This study shows that there is a possibility of significant consensus on hospice and palliative care system for the dying with dignity of patients and reduction of the suffering for their families among the general public.

• Korean Journal of Comparative Education
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• v.27 no.4
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• pp.187-209
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• 2017

The purpose of this study was to highlight the necessity of a conceptual reestablishment of world university evaluations. The hitherto most well-known and validated world university evaluation systems such as Times Higher Education (THE), Quacquarelli Symonds (QS) or Academic Ranking of World Universities (ARWU) primarily assess big universities with quantitative evaluation indicators and performance results in the rankings. Those Systems have instigated a kind of elitism in higher education and neglect numerous small or local institutions of higher education, instead of providing stakeholders with comprehensive information about the real possibilities of tertiary education so that they can choose an institution that is individually tailored to their needs. Also, the management boards of universities and policymakers in higher education have partly been manipulated by and partly taken advantage of the elitist ranking systems with an economic emphasis, as indicated by research-centered evaluations and industry-university cooperation. To supplement such educational defects and to redress the lack of world university evaluation systems, a new system called 'U-Multirank' has been implemented with the financial support of the European Commission since 2012. U-Multirank was designed and is enforced by an international team of project experts led by CHE(Centre for Higher Education/Germany), CHEPS(Center for Higher Education Policy Studies/Netherlands) and CWTS(Centre for Science and Technology Studies at Leiden University/Netherlands). The significant features of U-Multirank, compared with e.g., THE and ARWU, are its qualitative, multidimensional, user-oriented and individualized assessment methods. Above all, its website and its assessment results, based on a mobile operating system and designed simply for international users, present a self-organized and evolutionary model of world university evaluation systems in the digital and global era. To estimate the universal validity of the redefinition of the world university evaluation system using U-Multirank, an epistemological approach will be used that relies on Edgar Morin's Complexity Theory and Karl Popper's Philosophy of Science.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.17-32
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• 2023

In recent years, the need for social ventures that aim to grow while solving social problems through the efficiency and effectiveness of commercial organizations in the market has increased, while there is a limit to how much the government and the public can do to solve social problems. Against this background, the number of social venture startups is increasing in the domestic startup ecosystem, and interest in impact investors, which are investors in social ventures, is also increasing. Therefore, this research utilized judgment analysis technology to objectively analyze the validity and weight of judgment information based on the cognitive process and decision-making environment in the investment decision-making of impact investors. We proceeded with the research by constructing three classifications; first, investment priorities at the initial investment stage for financial benefit and return on investment as an investor, second, the political skills of the entrepreneurs (teams) for the social impact and ripple power, and social venture coexistence and solidarity, third, the social mission of a social venture that meets the purpose of an impact investment fund. As a result of this research, first of all, the investment decision-making priorities of impact investors are the expertise of the entrepreneur (team), the potential rate of return when the entrepreneur (team) succeeds, and the social mission of the entrepreneur (team). Second, impact investors do not have a uniform understanding of the investment decision-making factors, and the factors that determine investment decisions are different, and there are differences in the degree of the weighting. Third, among the various investment decision-making factors of impact investment, "entrepreneur's (team's) networking ability", "entrepreneur's (team's) social insight", "entrepreneur's (team's) interpersonal influence" was relatively lower than the other four factors. The practical contribution through this research is to help social ventures understand the investment determinant factors of impact investors in the process of financing, and impact investors can be expected to improve the quality of investment decision-making by referring to the judgment cases and analysis of impact investors. The academic contribution is that it empirically investigated the investment priorities and weighting differences of impact investors.

• Asia pacific journal of information systems
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• v.22 no.3
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• pp.99-124
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• 2012

Our society has long been talking about necessity for innovation. Since companies in particular need to carry out business innovation in their overall processes, they have attempted to apply many innovation factors on sites and become to pay more attention to their innovation. In order to achieve this goal, companies has applied various information technologies (IT) on sites as a means of innovation, and consequently IT have been greatly developed. It is natural for the field of IT to have faced another revolution which is called cloud computing, which is expected to result in innovative changes in software application via the Internet, data storing, the use of devices, and their operations. As a vehicle of innovation, cloud computing is expected to lead the changes and advancement of our society and the business world. Although many scholars have researched on a variety of topics regarding the innovation via IT, few studies have dealt with the issue of could computing as IT. Thus, the purpose of this paper is to set the variables of innovation attributes based on the previous articles as the characteristic variables and clarify how these variables affect "Performance Expectancy" of companies and the intention of using cloud computing. The result from the analysis of data collected in this study is as follows. The study utilized a research model developed on the innovation diffusion theory to identify influences on the adaptation and spreading IT for cloud computing services. Second, this study summarized the characteristics of cloud computing services as a new concept that introduces innovation at its early stage of adaptation for companies. Third, a theoretical model is provided that relates to the future innovation by suggesting variables for innovation characteristics to adopt cloud computing services. Finally, this study identified the factors affecting expectation and the intention to use the cloud computing service for the companies that consider adopting the cloud computing service. As the parameter and dependent variable respectively, the study deploys the independent variables that are aligned with the characteristics of the cloud computing services based on the innovation diffusion model, and utilizes the expectation for performance and Intention to Use based on the UTAUT theory. Independent variables for the research model include Relative Advantage, Complexity, Compatibility, Cost Saving, Trialability, and Observability. In addition, 'Acceptance for Adaptation' is applied as an adjustment variable to verify the influences on the expected performances from the cloud computing service. The validity of the research model was secured by performing factor analysis and reliability analysis. After confirmatory factor analysis is conducted using AMOS 7.0, the 20 hypotheses are verified through the analysis of the structural equation model, accepting 12 hypotheses among 20. For example, Relative Advantage turned out to have the positive effect both on Individual Performance and on Strategic Performance from the verification of hypothesis, while it showed meaningful correlation to affect Intention to Use directly. This indicates that many articles on the diffusion related Relative Advantage as the most important factor to predict the rate to accept innovation. From the viewpoint of the influence on Performance Expectancy among Compatibility and Cost Saving, Compatibility has the positive effect on both Individual Performance and on Strategic Performance, while it showed meaningful correlation with Intention to Use. However, the topic of the cloud computing service has become a strategic issue for adoption in companies, Cost Saving turns out to affect Individual Performance without a significant influence on Intention to Use. This indicates that companies expect practical performances such as time and cost saving and financial improvements through the adoption of the cloud computing service in the environment of the budget squeezing from the global economic crisis from 2008. Likewise, this positively affects the strategic performance in companies. In terms of effects, Trialability is proved to give no effects on Performance Expectancy. This indicates that the participants of the survey are willing to afford the risk from the high uncertainty caused by innovation, because they positively pursue information about new ideas as innovators and early adopter. In addition, they believe it is unnecessary to test the cloud computing service before the adoption, because there are various types of the cloud computing service. However, Observability positively affected both Individual Performance and Strategic Performance. It also showed meaningful correlation with Intention to Use. From the analysis of the direct effects on Intention to Use by innovative characteristics for the cloud computing service except the parameters, the innovative characteristics for the cloud computing service showed the positive influence on Relative Advantage, Compatibility and Observability while Complexity, Cost saving and the likelihood for the attempt did not affect Intention to Use. While the practical verification that was believed to be the most important factor on Performance Expectancy by characteristics for cloud computing service, Relative Advantage, Compatibility and Observability showed significant correlation with the various causes and effect analysis. Cost Saving showed a significant relation with Strategic Performance in companies, which indicates that the cost to build and operate IT is the burden of the management. Thus, the cloud computing service reflected the expectation as an alternative to reduce the investment and operational cost for IT infrastructure due to the recent economic crisis. The cloud computing service is not pervasive in the business world, but it is rapidly spreading all over the world, because of its inherited merits and benefits. Moreover, results of this research regarding the diffusion innovation are more or less different from those of the existing articles. This seems to be caused by the fact that the cloud computing service has a strong innovative factor that results in a new paradigm shift while most IT that are based on the theory of innovation diffusion are limited to companies and organizations. In addition, the participants in this study are believed to play an important role as innovators and early adapters to introduce the cloud computing service and to have competency to afford higher uncertainty for innovation. In conclusion, the introduction of the cloud computing service is a critical issue in the business world.