• Journal of Korea Society of Industrial Information Systems
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• v.23 no.2
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• pp.93-107
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• 2018

The Purpose of This Study is to Investigate Consumers' Negative WOMs due to the Crisis Response Strategy that Companies Perform in Crisis Situations due to the Failure of New Products. To do This, the Crisis Scenarios and Response Strategies were Manipulated Using a Virtual Laptop Company, and then an Experiment was Performed. The Results of This Experimental Design are as Follows. First, According to The Response Type Strategies, It is Found that Apologizing rather than Denying for the Crisis Response Mitigates the Negative WOMs more. Second, It is Found that the Companies that have Engaged in Cause-Related Marketing Activities before the Crisis Caused by New Product Failure Mitigate Consumers' Negative WOMs more than those which have not. Third, It is Shown that the Message Strategy of the Firm does not Affect Consumers' Negative WOMs. Fourth, the Interaction between the Response Type Strategy and the Cause-Related Marketing Activities are Found to Exist, but the Interaction Between The Response Type Strategy and the Message Strategy does not Appear.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.113-145
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• 2007

In this paper, we examine whether the poor performance of distressed firms where banks take equity may occur due to agency problems in banks. By adopting the debt-equity swap, the bank can effectively postpone the occurrence of bad loans form the failure of the distressed firm. As a result, firms with more debt will be more likely to obtain debt-equity swap, regardless of their probabilities of revival. This is not because they are more profitable, but because they have more debt and thus it poses greater risk to the bank. We empirically look into these predictions with the data of 44 workout firms and find the following results. First, debt-equity swap appears to be more applicable especially when the distressed firms are large and when BIS of related banks is low. Specifically, the conditional probability of 'large firms' based on debt-equity swap is 65.52% and the conditional probability of 'bad banks' based on debt-equity swap is 75.86%. Also, as predicted, the performance of these debt-equity firms is poorer than that of non debt-equity firms. The conditional probability of 'large firms' based on posterior failure is 84.62% and the conditional probability of 'bad banks' based on posterior failure is 84.62%. This is consistent with our predictions and is also confirmed through results of the logit regression analysis. Second, when the restructuring is led by 'good banks', the performance of equity-swap firms is superior to that of non equity-swap firms. This result is consistent with that of James(1995). Hence, we can conclude that there may be some agency problems in restructuring distressed firm-especially when distressed firms are large and banks are bad. And these agency problems can reconcile the difference between James' results and Park, Lee, and Jang's.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.283-290
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• 2021

Survival analysis was used to determine whether there are differences in the impact of trade payables on business failure according to the size of the company. A total of 41,781 firms from 1999 to 2019 were analyzed. The analysis period was divided into the entire period and before and after the financial crisis. The trade payable ratio is a proxy variable. The increase in trade payables over the entire period increases the possibility of business failure of Small and Medium Enterprises (SMEs). However, in large firms, a significant relationship between the increase in the trade payable ratio and the possibility of corporate failure could not be confirmed. Second, in SMEs during the sub-periods of 1999-2007 and 2009-2019, it was found that an increase in trade payables acts as a factor that increases the possibility of corporate failure. However, in large corporations, the increase in trade payables in the period from 2009 to 2019 has been shown to reduce the rate of failure. An increase in trade payables is recognized as the active development of business activities or the active use of interest-free debt. Therefore, it was confirmed that the impact of trade payables on corporate failure differs depending on the size of the company.

• Journal of the Korean Institute of Intelligent Systems
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• v.26 no.5
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• pp.343-350
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• 2016

Remaining lifetime prediction of the underground gas pipeline plays a key role in maintenance planning and public safety. One of main causes in the pipeline failure is metal corrosion. This paper deals with estimating the pipeline reliability in the presence of corrosion defects. Because a pipeline has uncertainty and variability in its operation, probabilistic approximation approaches such as first order second moment (FOSM), first order reliability method (FORM), second order reliability method (SORM), and Monte Carlo simulation (MCS) are widely employed for pipeline reliability predictions. This paper presents a fuzzy inference based reliability method (FIRM). Compared with existing methods, a distinction of our method is to incorporate a fuzzy inference into quantifying degrees of variability in corrosion defects. As metal corrosion depends on the service environment, this feature makes it easier to obtain practical predictions. Numerical experiments are conducted by using a field dataset. The result indicates that the proposed method works well and, in particular, it provides more advisory estimations of the remaining lifetime of the gas pipeline.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.9 no.5
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• pp.1460-1466
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• 2008

The purpose of this study is to verify how the accounting information of a bankrupt firm which is defined as a dishonor, an impaired total capital, a poor financial performance of a business, a rejection of auditor's opinion and an incongruity of auditor's opinion differs from that of a healthy firm on the basis of the index of financial affairs if the accounting information released by KOSDAQ is valuable. The sampling firms consists of 45 KOSDAQ firms that went bankrupt from 2000 to 2007 and 45 healthy firms which are selected in accordance with the sizes of assets. It has also selected the 30 sampling firms for the confirmation of the model in the same way. According to the result of the in-depth analysis, the variables related to security among the 17 indexes of financial affairs that have been used in this study for 5 years show a noticeable difference between a bankrupt firm and a healthy one. The accuracy of failed firms using this model for confirmation demonstrates 76.7% in 5 years before the bankruptcy, 76.7% in 4 years before that, 65.0% in 3 years before it, 76.7% in 2 years, 88.3% in 1 year. This data shows that the process from a healthy firm to a bankrupt one has progressed gradually and confirms the value of the index of financial affairs, exhibiting the accuracy with 83.8% of a presuming sample and 76.7% of a confirming sample for 5 years.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.6
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• pp.177-189
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• 2018

Business environment is always full of challenges. Despite various strategic efforts, there are so many failure cases of misfit. With the weaker resource base and institutional foundation, startup firms find it more difficult to find the right spot in the stiff competition. In the middle of evolutionary process, the startup firms need proper strategies meeting the differential challenges along the multiple stages of growth. Following the idea of product life cycle, this study applies the four stages of growth-startup, initial growth, accelerated growth, matured, and decliing. The next step for the startup manager is meeting each stage of growth with proper strategic efforts, including strategy, structure, decision-making pattern, and control method. When the knowledge factor is introduced, there is a potential for higher performance. Based on the 'Detailed Survey on Startup Ventures in 2017,' this study explores the impact of the government subsidy program on the firm competitiveness and performance-along the four stages of growth. In each stage, the strategy factors showed differential impact.

• Journal of information and communication convergence engineering
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• v.9 no.3
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• pp.341-346
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• 2011

Wireless sensor networks (WSNs) are formed by a great quantity of sensor nodes, which are consisted of battery-powered and some tiny devices. In WSN, both efficient energy management and Quality of Service (QoS) are important issues for some applications. Real-time services are usually employed to satisfy QoS requirements in critical environment. This paper proposes a real-time MAC (Medium Access Control) protocol with extended backoff scheme for wireless sensor networks. The basic idea of the proposed protocol employs (m,k)-firm constraint scheduling which is to adjust the contention window (CW) around the optimal value for decreasing the dynamic failure and reducing collisions DBP (Distant Based Priority). In the proposed protocol, the scheduling algorithm dynamically assigns uniform transmitting opportunities to each node. Numerical results reveal the effect of the proposed backoff mechanism.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2000.10a
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• pp.40-43
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• 2000

In this paper, we investigate how the average survival time of listed companies in the Korea Stock Exchange (KSE) are affected by changes in macro-economic environment and covariate vectors which show peculiar financial characteristics of each company. We also apply the survival analysis approach to the dichotomous firm failure prediction and the results show a similar pattern of forecasting performance using the existing dichotomous prediction techniques. These findings suggest that, when we consider a bankruptcy model under a certain economic event, the survival approach can be a useful alternative to the existing dichotomous prediction methods since the approach provides estimation of average survival time as well as simple binary prediction.

• Journal of Chest Surgery
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• v.20 no.2
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• pp.411-415
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• 1987

We have experienced a rare case of traumatic ventricular septal defect caused by fall down injury. The patient suffered from congestive heart failure after trauma and represented new developing typical murmur. Cardiac catheterization revealed a large left-to-right shunt at the ventricular level and a 4.4:1 ratio of pulmonary to systemic flow. Left ventricular angiogram also showed ventricular septal defect low in the muscular septum. At operation, the right ventricle and pulmonary artery were found to be moderately dilated. A marked systolic thrill was palpable over the right ventricle near the apex. Through a small left ventriculotomy an oval defect, 2x.3 cm with a firm scarred margin, was found in the lower muscular ventricular septum. This defect was repaired using Dacron patch and ventriculotomy was closed with long strip of Teflon felt. Postoperative course was uneventful and discharged in good condition.

• Journal of Chest Surgery
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• v.33 no.1
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• pp.112-115
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• 2000

A-13-urar-old with a history of Alport syndrome had been suffering from progressive dysphagia and postprandial vomiting for over 7 years. Exophagogram and manoemtric studies were consistent with achalasia. Barum study demonstrated marked esophageal dilatation and smooth tapered narrowing of the distal esophagus. However in spite of the medical treatment including the injection of the distal esophagus. However in spite of the medical treatment including the injection of botulinum toxin at the lesion site using an endoscope symptom did not improved and he suffered growth failure and malnutrition. Esophagectomy and esophagogastrostomy were performed to relieve the dysphagia. A firm circumferential intramural mass about 7$\times$5$\times$5 cm was found in the distal esophagus. The lumen of the esophagus was markedly dilated and esophageal wall was hypertrophied. Histologic examination of the neoplasm revealed a rather ill defined tumor tissue consisting of interlacing or whirling spindle cells without significant mitosis and esophageal leiomyo-matosis was confirmed. The patient was discharged uneventfully.