• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.1
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• pp.85-93
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• 2013

While relatively many researches have been performed on the legal issues of leverage buyout(LBO) in the Korean capital market, the on-going 'interdisciplinary studies' between the legal and the financial aspects of LBO financing structure seems to be relatively few so far. In this particular study, the concept and major financing structures on LBO have been discussed, by which domestic investors including institutional investors, may acquire in-depth knowledge on the issue given the dynamically changing circumstances surrounding the Korean domestic capital market. Moreover, legal analyses related to the conventional case studies on two types of LBO structures such as 'asset-backed LBO' and 'merger-related LBO', have been illustrated, coupled with the review of the previous literature on mergers & acquisitions(M&A) related to the financial aspects of LBO financing structure. From the director's perspective, who is employed by an acquired firm, legal issues in terms of 'fiduciary duty' and 'duty of loyalty' have been discussed, along with the logical scope of 'business judgement principle' in terms of modern finance theory.

• Journal of Korea Port Economic Association
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• v.34 no.3
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• pp.159-182
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• 2018

The purpose of this study is to increase the competitiveness of big data in the maritime port organization, by understanding the expected performance and the intention to accept and use big data. In the empirical analysis of factors affecting the intention to use the big data technology for maritime port organizations, the variables employed are based on the Technology Organization Environment(TOE) and Diffusion of Innovations(DOI) theories, which are related to the acceptance of information and communication technologies. To achieve the objective of this study, an empirical analysis was conducted; this analysis targeted the personnel involved in the department of strategic planning and information technology in the related field. We set up eight hypotheses to examine the relevance between variables having three characteristics-technology, organization, and environmental characteristics. The empirical results are summarized as follows. First, it was seen that the technology characteristic, including relative advantage, complexity, and compatibility, has a significant effect on the expected performance. Second, the top management support of the organization characteristic has a significant effect, but the firm size of this characteristic has no significant effect on the expected performance. Third, the competitive pressure of the environment characteristic has a positive effect on the expected performance, while the regulatory support has no significant effect. Finally, the expected performance has a significant effect on the intention to use big data.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.73-85
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• 2019

Since the beginning of a new century, many Korean construction and engineering companies are facing a very dynamic and fast changing business environment which includes severe competition, higher risk, economic depression, declining revenues and profits, etc. In order to cope with these challenges, they need to secure special capabilities to actively adapt to the paradigm changes. One of those capabilities could be project management capability which allows us to manage organizational resources dynamically and integratively based on project portfolio management concept. The objective of this study is to investigate how the dynamic capability of a project-based organization to control the resource affects the firm performance and the competitive advantages. Data was collected from the construction and engineering companies in South Korea by using survey questionnaire, and analyzed for empirical tests by using statistical methods such as structural equation modelling and path analysis. The results showed that the organizational resources, if they had the VRIN characteristics, would have positive impacts on creating the dynamic capabilities for project organization. In turn, the dynamic capabilities of a project organization would have impacts on improving business performance and creating competitive advantages. Also, it was found that the organizational resources may have direct impact on business performance and competitive advantages. The academic contribution of this study is that it attempts to integrate resource based view and the dynamic capability theory about creating competitive advantages for project based organization. This study also provided practical implications to the companies in construction industry by showing how to use organizational resources strategically to create competitive advantages.

• Industry Promotion Research
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• v.8 no.1
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• pp.103-110
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• 2023

This study targeted KakaoTalk app users, mainly in Seoul and the metropolitan area, and verified the factors that had a significant impact on the intention to continuously use the app through KakaoTalk contents. Among various content characteristics, five variables were used to verify the variables that had the greatest influence on the intention to continue using, and the ones that did not. As a result of testing the five hypotheses, it was found that convenience, enjoyment, informativeness, and perceived usefulness had a significant positive(+) effect on the intention to continue using, but intimacy did not. From this, it can be determined that the majority of users use the app content because it is useful and informative, rather than because they have a sense of familiarity. In this way, the purpose of this study is to provide empirical help to factors closely related to the intention of continuous use in deriving priorities to be considered in the service planning stage as well as in terms of technical design of contents when developing mobile apps in the mobile app industry as a whole and in the field in the future. I want to provide it, but there is a meaning.

• Journal of Korea Port Economic Association
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• v.38 no.1
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• pp.1-14
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• 2022

The change in the management environment of the logistics industry in the era of global competition is becoming an era in which customers choose companies. Differentiation from competitors through the provision of products and services suitable for customers As customers' choices change depending on their superiority, companies are constantly striving to receive or retain customers' choices. Ultimately, this competitive structure can be seen as the importance of long-term relationship building. Therefore, in this study, we examined how factors related to transaction characteristics performed by logistics companies for customer satisfaction in the transaction relationship between cargo companies and shippers affect performance and long-term transaction intentions. First, we derived the factors of logistics service, cost, logistics infrastructure, and company competency, which are transaction characteristics factors of a logistics company that must be specifically realized for customer satisfaction in transactions between logistics companies. Second, we analyzed how the transaction characteristics factors of a logistics company affect the company's performance, and finally, how the company's performance factors affect long-term transaction intentions. As a result of empirical analysis, there were no statistically significant results on the relationship between transaction characteristics and performance of logistics companies, which can be attributed to the small size of the logistics companies that were the sample. In other words, logistics companies that do not have sufficient capacity to provide services at low prices have no choice but to engage in constant bleeding competition. It can be seen that it reflects the characteristics of the industry. On the other hand, the relationship between corporate performance factors and long-term transaction intention was found to have a positive relationship. The higher the level of partnership with logistics companies and visible financial performance is, the higher the transaction will be in the future, and the more the transaction volume will be gradually increased. And even if it costs a little more, it can be seen that the intention to continue trading is greatly expressed.

• Journal of Global Scholars of Marketing Science
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• v.18 no.3
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• pp.27-57
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• 2008

Many consumers enjoy the challenge of purchasing a brand that matches well with their own values and personalities (for example, Ko et al., 2008; Ko et al., 2006). Therefore, the personalities of consumers can impact on the final selection of a brand and its brand personality in two ways: first, the consumers may incline to purchase a brand or a product that reflects their own personalities; second, consumers tend to choose a company that has similar brand personalities to those brands that are being promoted. Therefore, the objectives of this study are following: 1. Is there any empirical relationship between a consumer's personality and the personality of a brand that he or she chooses? 2. Can a corporate brand be differentiated by the brand personality? In short, consumers are more likely to hold favorable attitudes towards those brands that match their own personality and will most probably purchase those brands matching well with their personality. For example, Matzler et al. (2006) found that extraversion and openness were positively related to hedonic product value; and that the personality traits directly (openness) and indirectly (extraversion, via hedonic value) influenced brand effects, which in turn droved attitudinal and purchase loyalty. Based on the above discussion, the following hypotheses are proposed: Hypothesis 1: the personality of a consumer is related to the brand personality of a product/corporate that he/she purchases. Kuksov (2007) and Wernerfelt (1990) argued that brands as a symbolic language allowed consumers to communicate their types to each other and postulated that consumers had a certain value of communicating their types to each other. Therefore, how brand meanings are established, and how a firm communicate with consumers about the meanings of the brand are interesting topics for research (for example, Escalas and Bettman, 2005; McCracken, 1989; Moon, 2007). Hence, the following hypothesis is proposed: Hypothesis 2: A corporate brand identity is differentiated by the brand personality. And there are significant differences among companies. A questionnaire was developed for collecting empirical measures of the Big-Five personality traits and brand personality variables. A survey was conducted to the online access panel members through the Internet during December 2007 in Korea. In total, 500 respondents completed the questionnaire, and considered as useable. Personality constructs were measured using the Five-factor Inventory (NEO-FFI) scale and a total of 30 items were actually utilized. Brand personality was measured using the five-dimension scale developed by Aaker (1997). A total of 17 items were actually utilized. The seven-point Likert-type scale was the format of responses, for example, from 1 indicating strongly disagreed to 7 for strongly agreed. The Analysis of Moment Structures (AMOS) was used for an empirical testing of the model, and the Maximum Likelihood Estimation (MLE) was applied to estimate numerical values for the components in the model. To diagnose the presence of distribution problems in the data and to gauge their effects on the parameter estimates, bootstapping method was used. The results of the hypothesis-1 test empirically show that there exit certain causality relationship between a consumer's personality and the brand personality of the consumer's choice. Thus, the consumer's personality has an impact on consumer's final selection of a brand that has a brand personality matches well with their own personalities. In other words, the consumers are inclined to purchase a brand that reflects their own personalities and tend to choose a company that has similar brand personalities to those of the brand being promoted. The results of this study further suggest that certain dimensions of the brand personality cause consumers to have preference to certain (corporate) brands. For example, the conscientiousness, neuroticism, and extraversion of the consumer personality have positively related to a selection of "ruggedness" characteristics of the brand personality. Consumers who possess that personality dimension seek for matching with certain brand personality dimensions. Results of the hypothesis-2 test show that the average "ruggedness" attributes of the brand personality differ significantly among Korean automobile manufacturers. However, the result of ANOVA also indicates that there are no significant differences in the mean values among manufacturers for the "sophistication," "excitement," "competence" and "sincerity" attributes of the corporate brand personality. The tight link between what a firm is and its corporate brand means that there is far less room for marketing communications than there is with products and brands. Consequently, successful corporate brand strategies must position the organization within the boundaries of what is acceptable, while at the same time differentiating the organization from its competitors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.6
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• pp.59-76
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• 2019

Most technology-based entrepreneurship(TBE) go through an process of decline or disappear without overcoming the valley of death(VoD). The purpose of this study is to identify the growth dimension of TBE and to test the influence of firms activities on firms growth over time. This study identified the two-dimensional growth dimension divided by size and profit through exploratory factor analysis(EFA) of a number of growth indicators. Then, we defined the discrete state of growth firm in four states, divided by size and profit, and five states, including the closure of business. Multi-nomial logit model is used to predict the effect of TBE activities on a discrete state of growth firm(size×profit, closure of business) based on multiple independent variables. The independent variables are based on five representative firms activities: employment, marketing, R&D, financial activities, and general management activities. The growth stage of TBE over time has been categorized into three stages: early stage, middle stage, and late stage of business, taking into account the main periods during which the survival rate of startups sharply decreases. The analytical data of this study was based on the secondary data of the start-up supporting companies of government and public institutions. The subjects of analysis were TBE within 10 years. As a result of the empirical analysis, the employment and marketing activities of TBE show that early and mid-term activities had an effect on the state of firms growth. However, if there is a difference, employment activities have both positive and negative effects, while marketing activities have only a positive effect on size and profit growth. And besides, R&D activities, financial activities, and general management activities throughout the entire process of firms growth were found to be firms activities that have both positive and negative effects on firms growth. In addition, the age of the founder, the firms' industry, and the geographic location of the firms, which are general characteristics of the company, were found to have a distinctive effect on the growth status of the firms according to the growth stage.

• Journal of Intelligence and Information Systems
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• v.24 no.2
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• pp.1-19
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• 2018

Since stock movements forecasting is an important issue both academically and practically, studies related to stock price prediction have been actively conducted. The stock price forecasting research is classified into structured data and unstructured data, and it is divided into technical analysis, fundamental analysis and media effect analysis in detail. In the big data era, research on stock price prediction combining big data is actively underway. Based on a large number of data, stock prediction research mainly focuses on machine learning techniques. Especially, research methods that combine the effects of media are attracting attention recently, among which researches that analyze online news and utilize online news to forecast stock prices are becoming main. Previous studies predicting stock prices through online news are mostly sentiment analysis of news, making different corpus for each company, and making a dictionary that predicts stock prices by recording responses according to the past stock price. Therefore, existing studies have examined the impact of online news on individual companies. For example, stock movements of Samsung Electronics are predicted with only online news of Samsung Electronics. In addition, a method of considering influences among highly relevant companies has also been studied recently. For example, stock movements of Samsung Electronics are predicted with news of Samsung Electronics and a highly related company like LG Electronics.These previous studies examine the effects of news of industrial sector with homogeneity on the individual company. In the previous studies, homogeneous industries are classified according to the Global Industrial Classification Standard. In other words, the existing studies were analyzed under the assumption that industries divided into Global Industrial Classification Standard have homogeneity. However, existing studies have limitations in that they do not take into account influential companies with high relevance or reflect the existence of heterogeneity within the same Global Industrial Classification Standard sectors. As a result of our examining the various sectors, it can be seen that there are sectors that show the industrial sectors are not a homogeneous group. To overcome these limitations of existing studies that do not reflect heterogeneity, our study suggests a methodology that reflects the heterogeneous effects of the industrial sector that affect the stock price by applying k-means clustering. Multiple Kernel Learning is mainly used to integrate data with various characteristics. Multiple Kernel Learning has several kernels, each of which receives and predicts different data. To incorporate effects of target firm and its relevant firms simultaneously, we used Multiple Kernel Learning. Each kernel was assigned to predict stock prices with variables of financial news of the industrial group divided by the target firm, K-means cluster analysis. In order to prove that the suggested methodology is appropriate, experiments were conducted through three years of online news and stock prices. The results of this study are as follows. (1) We confirmed that the information of the industrial sectors related to target company also contains meaningful information to predict stock movements of target company and confirmed that machine learning algorithm has better predictive power when considering the news of the relevant companies and target company's news together. (2) It is important to predict stock movements with varying number of clusters according to the level of homogeneity in the industrial sector. In other words, when stock prices are homogeneous in industrial sectors, it is important to use relational effect at the level of industry group without analyzing clusters or to use it in small number of clusters. When the stock price is heterogeneous in industry group, it is important to cluster them into groups. This study has a contribution that we testified firms classified as Global Industrial Classification Standard have heterogeneity and suggested it is necessary to define the relevance through machine learning and statistical analysis methodology rather than simply defining it in the Global Industrial Classification Standard. It has also contribution that we proved the efficiency of the prediction model reflecting heterogeneity.

• Food Engineering Progress
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• v.15 no.1
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• pp.56-63
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• 2011

Durum wheat semolina was added into wet-milled rice flour in order to improve chewy texture, firm bite ("al dente"), and resistance to overcooking of the ordinary rice noodles. Wet noodles were prepared by mixing 0 (control), 5, 10, 15, and 20% (w/w) of semolina per semolina and rice flour mixtures. Vital gluten (4%, w/w) and salt (2%, w/w) were added to form the pliable strands of wet noodles and final moisture contents of the raw mixtures were equalized at 45%. Pasting properties of the suspended flour mixtures as measured by the Rapid Visco Analyser (RVA) showed slight increases (up to $1.2^{\circ}C)$ in pasting temperatures along with the considerable decreases in peak viscosities as semolina increased at over 15%. Reduced shear thinning and retrogradation of the starch solution that leads to hardening of the cooked noodles were indicated by lowered breakdown viscosities and gaps between finaland setback viscosities from the RVA viscogram as semolina increased at over 10%. Reduced water uptake and turbidity increases of the cooking water as caused by the soluble starches from the noodle were also noted as the content of semolina increased. More or less significant (p<0.05) decreases in colorimetric L (lightness) value of the raw- and cooked noodles were observed as semolina increased while a- (redness) and b (yellowness) values were rather increased at the same moment. Textural properties of the cooked noodles such as hardness, springiness, cohesiveness, gumminess, and chewiness from TPA tests were significantly (p<0.05) influenced by added semolina, even at 5%-levels or more. It can be concluded that addition of semolina into rice flour could provide easy handling of the wet noodles without distortion during transportation, integrity and firm bite of the cooked noodles, and less loss of starch to the cooking water in comparison with the ordinary rice noodle. It was finally suggested that optimum level of the semolina in the product was approximately 10% for the quality wet rice noodle products.

• Journal of Sasang Constitutional Medicine
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• v.10 no.2
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• pp.1-14
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• 1998

1. Purpose : The correct constitutional diagnosis and the accurate prescription are very important in clinical application of Sasang Constitutional Medicine. Lee Je-ma emphasized that symptom is the best clue to diagnose constitution in "DongYi Suse Bowon". After research the characteristics of each constitution's symptoms and the backgrounds of constitutional prescriptions, this paper is to know the correct clinical application of Sasang Constitutional Medicine. 2. Method : Through the clinical applications of "DongYi Soose Bowon" and "Dongyi Sasang Sinpeun", the characteristics of constitutional symptoms and the application of prescription were researched 3. Results & Conclusions 1) The symptoms of Sasang Constitutional Medicine were came from the Hyung-Sang Medicine(形象醫學) which were important to mind-body equally and from the summarizing spirit of four Qi such as Warm-Hot-Cool-Cold(溫熱凉寒) 2) The symptoms of Soeumin and Soyangin are the Cold-Hot symptoms of ingestive food(水穀) and the treatment of symptoms is to control the ascent-descent of up and down. The symptoms of Taeumin and Taeyangin are the Warm-Cool symptoms of Qi-Yack(氣液) and the treatment of symptom is to control the unfasten-fasten of interior and exterior. 3) The symptoms of Taeyangin are 'Weak Lower part and Firm Upper part symptom'(下虛上實病證) and 'Blood and Yack Exhasted Symptom'(血液俱耗病證), the symptoms of Soeumin are 'Fall Down Symptom'(下陷病證) and Stomach Cold Symptom(胃寒病證), the symptoms of taeumin is 'Dryness Fever Symptom'(燥熱病證) and 'Interior Fever Symptom'(燥熱病證), the symptoms of Soyangin is 'Fire Fever Symptom'(火熱病證) and 'Interior Fever Symptom'(燥熱病證). 4) The characteristics of sasang constitutional symptoms are the exterior-interior symptoms classified with nature-emotion and cool-hot, the inclusive control of exterior-interior symptoms with healthy energy, and the classification of ingestive food symptoms and Qi-Yack symptoms. 5) The characteristics to treat symptoms are the classification of seriousness and obedience, the use herbs according to each constitutions, and inclusive symptoms control.