• Management & Information Systems Review
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• v.36 no.4
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• pp.53-80
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• 2017

The purpose of this study is to examine the determinants of the number of bank relationships in Korea. Firm-specific determinants considered here include leverage, size, age, return on asset, investment grade, tangibility, liquidity, R&D expenditure. We estimate the effects of these variables, and compare the results with those from previous studies performed for other economies. Concerning the effects of business cycle, we find that the business cycle is an important factor in determining the number of bank relationships. The number of bank relationships varies over the business cycle, and we notice a counter-cyclical behavior, which means the number decreases during economic expansions and increases during contractions. This result can be interpreted as a result of firms' diversification of borrowings into multiple banks in order to reduce the liquidity risk during the recession. In the subsets, however, the number of bank relationships for large firms is stable regardless of the business cycle. Unlisted firms, non-chaebol, and low credit quality firms which have relatively limited access to alternative sources of financing show counter-cyclical behavior. Finally, such phenomena is not observed in the non-competitive credit market, while they show a counter-cyclical behavior in the competitive credit market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.2
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• pp.107-117
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• 2013

The main objective of this study lies at examining economic features of IT security investment and comparing alternative mechanisms to achieve optimal provision of IT security resources within a firm. There exists a paucity of economic analysis that provide useful guidelines for making critical decisions regarding the optimal level of provision of IT security and how to share the costs among different users within a firm. As a preliminary study, this study first argues that IT security resources share some unique characteristics of pure public goods, namely nonrivalry of consumption and nonexcludability of benefit. IT security provision problem also suffers from information asymmetry problem with regard to the valuation of an individual user for IT security goods. Then, through an analytical framework, it is shown that the efficient provision condition at the overall firm level is not necessarily satisfied by individual utility maximizing behavior. That is, an individual provision results in a suboptimal solution, especially an underprovision of the IT security good. This problem is mainly due to the nonexcludability property of pure public goods, and is also known as a free-riding problem. The fundamental problem of collective decision-making is to design mechanisms that both induce the revelation of the true information and choose an 'optimal' level of the IT security good within this framework of information asymmetry. This study examines and compares three alternative demand-revealing mechanisms within the IT security resource provision context, namely the Clarke-Groves mechanism, the expected utility maximizing mechanism and the Groves-Ledyard mechanism. The main features of each mechanism are discussed along with its strengths, weaknesses, and different applicability in practice. Finally, the limitations of the study and future research are discussed.

• The Journal of Korean Society for School & Community Health Education
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• v.5
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• pp.43-70
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• 2004

This research was conducted to provide basic document on efficient health promotion behavior program that elementary school students can use from elementary school course to enhance health promotion behavior for healthy life by checking out the degree of the most influential factor for health promotion behavior about elementary school students who establish lifelong health habit, and by checking out the relation between the degree of self-efficacy and health promotion behavior. The number of subjects of this research was 598. They were all elementary school students from the sixth grade students of the 5 cities of the Kyeong Nam province. We conducted questionnaires and did statistical analyses by using 592 papers which were suitable for date analyses with SPSS. The conclusions were as follows; A. The degree of self-efficacy The degree of self-efficacy of elementary school students was more than average. The degree of self-efficacy on physical activity was the highest and the degree of self-efficacy on self-fulfillment was the lowest. The degree of self-efficacy of girl students was comparatively higher than that of boy students. When their parents got higher education, made a lot of money and kept harmony with their children, the degree of self-efficacy became high. Furthermore, when their parents or themselves have a lot of interest in health, they feel that they are healthy, and they feel that they are satisfied with their bodies, the degree of self-efficacy was high too. B. The degree of health promotion behavior Although the degree of health promotion behavior of elementary school students was a bit lower than the degree of self-efficacy, it was higher than average. The degree of health promotion behavior on physical activity was the highest. But the degree of health promotion behavior on health of their own was the lowest. The degree of health promotion behavior between girl students and boy students was the same. When their parents got higher education, made a lot of money and kept harmony with their children, the degree of self-efficacy became high. Furthermore, when their parents or themselves have a lot of interest In health, they feel that they are healthy, and they feel that they are satisfied with their bodies, the degree of self-efficacy was high too. C. The relation between self-efficacy and health promotion behavior When the degree of self-efficacy was high, the degree of health promotion behavior was high too. So there was high positive relationship between self-efficacy and health promotion behavior. Physical activity showed the highest relationship. The order of strong relationship run as follows. Relationship with others, self-fulfillment, management of stress. The higher self-efficacy which was a recognizable factor on health behavior, the higher the degree of health promotion behavior. It is being revealed that many modem chronic diseases are cause by accumulated careless attitude on harmful health habit and lack of self-control. The behavior of keeping healthy and enhancing health is more firm when they have high self-efficacy which is believing their own conviction. So, When we teach elementary school students health promotion education at school, we should try to enhance their own self-efficacy rather than just instill simple information about health. By doing so, we can help them change their attitude on health. Then, they could enjoy life-long healthy life.

• Fashion & Textile Research Journal
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• v.19 no.6
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• pp.701-711
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• 2017

This research aimed to understand selfie behavior in social networking sites (SNSs). The research was conducted on the basis of the functional theories of attitude, verified self-presentation attitude, and self-expression attitude that affect selfie behaviors (i.e., taking selfies, posting selfies, and taking selfies for fashion product exposure). The moderating effect of satisfaction toward one's appearance was identified. The participants of the study were SNS users aged 20-30 years who had posted selfies in the past month. A survey was performed using an online panel of an international survey firm. The data were analyzed using hierarchical regression analysis on SPSS 22.0. Results corroborated that self-expression attitude affected the number of selfies taken but not the number of selfies posted and those uploaded for fashion product exposure. Self-presentation attitude exerted a significant effect on the number of selfies posted and those uploaded for fashion product exposure. When satisfaction toward one's appearance was high, self-presentation attitude increased the influence of the behaviors of posting selfies and uploading selfies for fashion product exposure. Self-expression attitude also significantly influenced the number of selfies taken due to the moderating effect of satisfaction toward one's appearance. This research was made meaningful by its quantitative analysis of selfie behavior in SNSs. The results confirmed the different functions of attitudes affecting selfie behavior. With the improved understanding of selfie behavior obtained from this research, Social Media marketing may be carried out in various industrial fields in the future.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.523-549
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• 2015

This paper investigates an oil refiner's asymmetric behavior in the adjustments of gasoline and diesel prices to changes in his own price and his rivals' prices as well as input costs. An asymmetric error correction model which allows a firm's pricing behavior to the deviation of other firms' prices from their long-run equilibrium level is employed for estimation using weekly data for the period April 2009 to January 2015. Evidence is found that there is a significant degree of asymmetry in the adjustment of wholesale prices to changes in crude oil price. A similar result in regard to the exchange rate is also found by the data. The estimation results for firm's response to changes in other firms' prices indicates that implicit collusion could be more easily exploited in the wholesale petroleum market as results of firms' interaction with each other and anticipation of rivals' pricing behavior. A few refiners show competitive price adjustment in response to the upward deviation of the others' prices from their equilibrium level.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.33-78
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• 2008

This paper empirically examines whether firms engage in a dynamic adjustment process toward target capital structure and, whether there is a target capital structure or mean reverting using the partial adjustment model while allowing for costly adjustment. Also we investigate the empirical determinants of optimal target capital structure in long term equilibrium. As a result, our empirical model captures at least several important features of capital structure behavior for Korean listed firms. First, Korean firms pursue target capital structure and also there is mean reverting phenomenon. Second, Non-Chaebol and small firm in adjustment speed is faster than Chaebol and large firm. Third, even capital market restricts the adjustment speed interestingly. Fourth, Korean firms have target behavior according to a degree of observed gap. Fifth, Korean firms close about one-fourth of the gap between their actual and target debt ratios within one year and thence targeting behavior explains far more of the observed changes in capital structure than market timing or pecking order considerations. Sixth, capital market is significant in determining optimal capital structure.

• Asian Journal of Innovation and Policy
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• v.1 no.2
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• pp.148-167
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• 2012

This paper analyzes the impact of the change in telecommunication regulation changes including the unification of telecommunication service on network investment. The unification of telecommunication service plays a role of separating behavior regulation from entrance regulation and reducing entrance constraints. Therefore, it is expected that the market spillover effect is high through the improvement of behavior regulation. In addition, the effects of the other regulation changes in the 2010 Telecommunications Business Act revision are analyzed. This paper discusses critical factors affecting the decision making process in respect to the firm level and analyzes the impact path guiding investment and innovation. The key findings are as follows. First, the impact of entrance deregulation depends on the intensity of deregulation. If the intensity is not high, this regulation increases the incentive on investment and innovation. However, if the intensity is high as shown in abolishing of licensing, it affects the incentive negatively. Second, if interconnection regulation focuses on existing facilities or the intensity is not strong, this light handed regulation might increase investment and innovation. However, if interconnection obligation is expanded to the facility not constructed or the facility applying new technology, this regulation might deteriorate investment. Third, price deregulation increases the competition of service but it also increases the business opportunity, which means positive effect on investment. Finally, the paper proposes the guideline for telecommunications policy.

• Journal of the Korean Operations Research and Management Science Society
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• v.33 no.1
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• pp.1-17
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• 2008

Market segmentation is a key strategic factor in increasing the expected profits, especially in the practice of revenue management. A manufacturing firm should manage both manufacturing quantities and pricing decisions over its segmented markets to maximize the expected profits, setting different price for each different segment. Also, market segments should be kept separate in order to prevent demand leakages between different market segments. In fact, even though the markets for different products are firmly segmented, it is not easy to keep separate segmentation because many products might be substitutable by customer buying behavior. That is, customers respond to price changes by purchasing other market's products instead of purchasing the originally requested products, which causes demand substitution effect ; This kind of substitution is referred to as price-driven substitution. Therefore, decisions on optimal prices should take into account the differences in customers' valuation of the different products. We consider a deterministic model for deciding optimal prices in the presence of price-driven substitution, and we compare both symmetrical-and asymmetrical-type demand substitutions between two segmented markets. The objective of this study is to develop analytical and numerical models to examine the impact of price-driven substitution on the optimal price levels and the total expected profits.

• Magazine of the Korea Concrete Institute
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• v.6 no.3
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• pp.162-172
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• 1994

The flexural and horizontal shear behavior of overlaid concrete slabs with polymer interface is investigated in the present study. An experimental program was set up and several series of overlaid concrete slabs have been tested to study the effect of different surface preparations and dowel bars between old slab and overlay under service and ultimate loads. 'The cracking and ulti mate load behavior for various cases including acryl emulsion treatment and doweled joints has been studied. The present study indica.tes that the overlaid concrete slabs behave integrally with existing bottom slabs up to ultimate range for rough and doweled joints with polymer interface. The pres ent study provides a firm base for the realistic design of two-layered RC slabs in bridges.

• Proceedings of the Korea Database Society Conference
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• 2008.05a
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• pp.13-30
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• 2008

The objective of this study is to explore a knowledge sharing typology for Internet portals based on knowledge-based view of firm. Furthermore, we provide insights into how the evolution of Internet portals takes place by describing user behavior of knowledge sharing. For doing this, we first present a typology of knowledge sharing based on the two dimensions such as knowledge donation and knowledge collection. Then we conduct case study of the Korean major portals to demonstrate a proposed typology. The main finding of the analysis is that three distinctive types of knowledge sharing patterns within portals are distinguished: collaboration, accumulation, and publishing. We conclude that user behavior of knowledge sharing is characterized as guiding factors in evolution process.