• Journal of Intelligence and Information Systems
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• v.24 no.4
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• pp.171-196
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• 2018

With the development of the web, two-way communication and evaluation became possible and marketing paradigms shifted. In order to meet the needs of consumers, web design trends are continuously responding to consumer feedback. As the web becomes more and more important, both academics and businesses are studying consumer emotions and satisfaction on the web. However, some consumer characteristics are not well considered. Demographic characteristics such as age and sex have been studied extensively, but few studies consider psychological characteristics such as regulatory focus (i.e., emotional regulation). In this study, we analyze the effect of web style on consumer emotion. Many studies analyze the relationship between the web and regulatory focus, but most concentrate on the purpose of web use, particularly motivation and information search, rather than on web style and design. The web communicates with users through visual elements. Because the human brain is influenced by all five senses, both design factors and emotional responses are important in the web environment. Therefore, in this study, we examine the relationship between consumer emotion and satisfaction and web style and design. Previous studies have considered the effects of web layout, structure, and color on emotions. In this study, however, we excluded these web components, in contrast to earlier studies, and analyzed the relationship between consumer satisfaction and emotional indexes of web-style only. To perform this analysis, we collected consumer surveys presenting 40 web style themes to 204 consumers. Each consumer evaluated four themes. The emotional adjectives evaluated by consumers were composed of 18 contrast pairs, and the upper emotional indexes were extracted through factor analysis. The emotional indexes were 'softness,' 'modernity,' 'clearness,' and 'jam.' Hypotheses were established based on the assumption that emotional indexes have different effects on consumer satisfaction. After the analysis, hypotheses 1, 2, and 3 were accepted and hypothesis 4 was rejected. While hypothesis 4 was rejected, its effect on consumer satisfaction was negative, not positive. This means that emotional indexes such as 'softness,' 'modernity,' and 'clearness' have a positive effect on consumer satisfaction. In other words, consumers prefer emotions that are soft, emotional, natural, rounded, dynamic, modern, elaborate, unique, bright, pure, and clear. 'Jam' has a negative effect on consumer satisfaction. It means, consumer prefer the emotion which is empty, plain, and simple. Regulatory focus shows differences in motivation and propensity in various domains. It is important to consider organizational behavior and decision making according to the regulatory focus tendency, and it affects not only political, cultural, ethical judgments and behavior but also broad psychological problems. Regulatory focus also differs from emotional response. Promotion focus responds more strongly to positive emotional responses. On the other hand, prevention focus has a strong response to negative emotions. Web style is a type of service, and consumer satisfaction is affected not only by cognitive evaluation but also by emotion. This emotional response depends on whether the consumer will benefit or harm himself. Therefore, it is necessary to confirm the difference of the consumer's emotional response according to the regulatory focus which is one of the characteristics and viewpoint of the consumers about the web style. After MMR analysis result, hypothesis 5.3 was accepted, and hypothesis 5.4 was rejected. But hypothesis 5.4 supported in the opposite direction to the hypothesis. After validation, we confirmed the mechanism of emotional response according to the tendency of regulatory focus. Using the results, we developed the structure of web-style recommendation system and recommend methods through regulatory focus. We classified the regulatory focus group in to three categories that promotion, grey, prevention. Then, we suggest web-style recommend method along the group. If we further develop this study, we expect that the existing regulatory focus theory can be extended not only to the motivational part but also to the emotional behavioral response according to the regulatory focus tendency. Moreover, we believe that it is possible to recommend web-style according to regulatory focus and emotional desire which consumers most prefer.

• Journal of Distribution Research
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• v.16 no.1
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• pp.95-115
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• 2011

Food service is the major part of franchise business in Korea, accounting for 69.9% of the brands in the market. As the food service industry becomes mature, many franchisees have struggled to survive in the market. In general, consumers have higher levels of expectation toward service quality of franchised outlets compared that of (non-franchised) independent ones. They also tend to believe that franchisees deliver standardized service at the uniform food price, regardless of their locations. Such beliefs seem to be important reasons that consumers prefer franchised outlets to independent ones. Nevertheless, few studies examined the impact of qualify features of franchisees on customer satisfaction so far. To this end, this study examined the characteristics of various quality features of franchisees in the food service industry, regarding their relationship with customer satisfaction and dissatisfaction. The quality perception of heavy-users was also compared with that of light-users in order to find insights for developing differentiated marketing strategy for the two segments. Customer satisfaction has been understood as a one-dimensional construct while there are recent studies that insist two-dimensional nature of the construct. In this regard, Kano et al. (1984) suggested to categorize quality features of a product or service into five types, based on their relation to customer satisfaction and dissatisfaction: Must-be quality, Attractive quality, One-dimensional quality, Indifferent quality, and Reverse quality. According to the Kano model, customers are more dissatisfied when Must-be quality(M) are not fulfilled, but their satisfaction does not arise above neutral no matter how fully the quality fulfilled. In comparison, customers are more satisfied with a full provision of Attactive quality(A) but manage to accept its dysfunction. One-dimensional quality(O) results in satisfaction when fulfilled and dissatisfaction when not fulfilled. For Indifferent quality(I), its presence or absence influences neither customer satisfaction nor dissatisfaction. Lastly, Reverse quality(R) refers to the features whose high degree of achievement results in customer dissatisfaction rather than satisfaction. Meanwhile, the basic guidelines of the Kano model have a limitation in that the quality type of each feature is simply determined by calculating the mode statistics. In order to overcome such limitation, the relative importance of each feature on customer satisfaction (Better value; b) and dissatisfaction (Worse value; w) were calculated following the formulas below (Timko, 1993). The Better value indicates how much customer satisfaction is increased by providing the quality feature in question. In contrast, the Worse value indicates how much customer dissatisfaction is decreased by providing the quality feature. Better = (A + O)/(A+O+M+I) Worse = (O+M)/(A+O+M+I)(-1) An on-line survey was performed in order to understand the nature of quality features of franchisees in the food service industry by applying the Kano Model. A total of twenty quality features (refer to the Table 2) were identified as the result of literature review in franchise business and a pre-test with fifty college students in Seoul. The potential respondents of our main survey was limited to the customers who have visited more than two restaurants/stores of the same franchise brand. Survey invitation e-mails were sent out to the panels of a market research company and a total of 257 responses were used for analysis. Following the guidelines of Kano model, each of the twenty quality features was classified into one of the five types based on customers' responses to a set of questions: "(1) how do you feel if the following quality feature is fulfilled in the franchise restaurant that you visit," and "(2) how do you feel if the following quality feature is not fulfilled in the franchise restaurant that you visit." The analyses revealed that customers' dissatisfaction with franchisees is commonly associated with the poor level of cleanliness of the store (w=-0.872), kindness of the staffs(w=-0.890), conveniences such as parking lot and restroom(w=-0.669), and expertise of the staffs(w=-0.492). Such quality features were categorized as Must-be quality in this study. While standardization or uniformity across franchisees has been emphasized in franchise business, this study found that consumers are interested only in uniformity of price across franchisees(w=-0.608), but not interested in standardizations of menu items, interior designs, customer service procedures, and food tastes. Customers appeared to be more satisfied when the franchise brand has promotional events such as giveaways(b=0.767), good accessibility(b=0.699), customer loyalty programs(b=0.659), award winning history(b=0.641), and outlets in the overseas market(b=0.506). The results are summarized in a matrix form in Table 1. Better(b) and Worse(w) index indicate relative importance of each quality feature on customer satisfaction and dissatisfaction, respectively. Meanwhile, there were differences in perceiving the quality features between light users and heavy users of any specific franchise brand in the food service industry. Expertise of the staffs was labeled as Must-be quality for heavy users but Indifferent quality for light users. Light users seemed indifferent to overseas expansion of the brand and offering new menu items on a regular basis, while heavy users appeared to perceive them as Attractive quality. Such difference may come from their different levels of involvement when they eat out. The results are shown in Table 2. The findings of this study help practitioners understand the quality features they need to focus on to strengthen the competitive power in the food service market. Above all, removing the factors that cause customer dissatisfaction seems to be the most critical for franchisees. To retain loyal customers of the franchise brand, it is also recommended for franchisor to invest resources in the development of new menu items as well as training programs for the staffs. Lastly, if resources allow, promotional events, loyalty programs, overseas expansion, award-winning history can be considered as tools for attracting more customers to the business.

• Journal of Distribution Science
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• v.10 no.4
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• pp.13-20
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• 2012

The "flextime" system, which was initially designed to maintain a balance between work and personal life, has recently received much attention as an alternative form of work, enabling employees to fully exert their creativity. Most studies show that the effects of flextime on performance, productivity, attitude toward the organization, absenteeism, and turnover differ between managerial and non-managerial workers. This suggests that workers' personal characteristics affect their preference for flextime by directly or indirectly influencing its result variables. As most Korean companies have not adopted the flextime system, little research has been conducted on it in Korea. Recently, Korean companies have been discussing flextime as one of several measures for enhancing international competitiveness. Therefore, this study aims to offer a theoretical framework for the introduction of the system by analyzing the effects of the precedent factors on the preference for flextime. Though not statistically significant, a higher preference for flextime is noted among workers over the age of 36. Older workers usually are more conservative and less adaptable to change but here the older Korean workers may be anxious and resistant. Additional research on workers in different types of businesses using improved research methods will lead to more meaningful results. Married workers display a lower preference to flextime than single workers. In Korea, the current atmosphere focused on a happy home encourages married workers to prefer regular work hours, enabling them to go to and from work on a regular schedule. This means that normal working hours, from morning to evening, are preferred as it is the most suitable system for families. However, this is not so in the case of single workers. Unmarried singles tend to prefer flextime for investing in self-development toward future prosperity, over the benefits of regular working-hours. Flextime is designed to meet their needs to some extent as it is helpful in maintaining a balance between work life and self-development. If flextime is selected, workers can spend mornings on self-development and work in the afternoons. Therefore, when flextime is introduced in Korea, it would be desirable to start with unmarried workers, to increase corporate creativity and productivity and develop individual potential. In particular, when the five-day workweek, the main concern for companies and labor unions, is adopted, synergy with flextime could be expected and a gradual implementation of flextime will be effective. Gender difference shows similar results to marital status with male workers displaying a higher preference for flextime. It is inferred that male workers' attitudes toward flextime are more favorable than female workers' because flextime enables self-development and work life to coexist. A relatively weak, though statistically significant, correlation exists between control position and flextime preference with inner-control-oriented workers displaying favorable attitudes toward flextime. Generally, inner-control-oriented workers tend to attribute the consequences caused by any person or partner relationship to themselves. Thus, when a new system is introduced they are likely to have less reluctance and fear than outer-control-oriented workers, because they think it is important to deal with the new system. A weak but slight correlation exists between the desire for achievement and flextime preference. People who have a higher desire for achievement are willing to consider the new system, especially if significant success is reasonably expected. This result is derived from a reasonable judgment that flextime offers an individual the time for self-development while the organization benefits from the resulting creativity and performance enhancements. Although not the primary analysis, a high correlation is found between control position and the desire for achievement, which is consistent with the results of previous research. The regression analysis not only supports the preceding ANOVA and correlation analysis but also shows the existence of a causal relationship. Married workers have a weak preference for flextime, which is consistent with the results of the preceding ANOVA. Relative to men, women have a weak preference for flextime. No statistically significant correlation was noticed for age. Inner-control-oriented workers prefer flextime more than outer-control-oriented workers as the former view the consequences of change to be their own responsibility. However, the preference for flextime seems to be weak. As expected, people with a higher desire for achievement have a stronger preference for flextime, presumably because the greater the desire for achievement, the stronger the spirit of challenging an uncertain future. No significant correlation exists between job satisfaction and flextime preference.

• The Journal of the Petrological Society of Korea
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• v.25 no.4
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• pp.311-324
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• 2016

The characteristics of the rock cleavage in Jurassic granite from Geochang were analysed. The evaluation for three quarrying planes and three rock cleavages was performed using the parameters such as (1) reduction ratio between the value of spacing and the value of length, (2) microcrack spacing frequency(N), (3) total spacing($1mm{\geq}$), (4) exponential constant(a), (5) magnitude of exponent(${\lambda}$), (6) mean spacing($S_{mean}$), (7) difference value($S_{mean}-S_{median}$) between mean spacing and median spacing($S_{median}$) and (8) density of spacing. Especially the close dependence between the above spacing parameters and the parameters from the spacing-cumulative frequency diagrams was derived. The discrimination factors representing three quarrying planes and three rock cleavages were acquired through these mutual contrast. The analysis results of the research are summarized as follows. First, the reduction ratios of frequency(N), mean value, median value, the above difference value($S_{mean}-S_{median}$) and density for three rock cleavages are in orders of G(grain, (G1 + G2)/2) < H(hardway, (H1 + H2)/2) < R(rift, (R1 + R2)/2), H < G $\ll$ R, H < G $\ll$ R, H < G < R and H < G $\ll$ R. The values of the above five parameters for three planes show the various orders of R'(rift plane) $\ll$ H'(hardway plane) < G'(grain plane), R' $\ll$ G' < H', R' < H' < G', R' < G' < H' and R' $\ll$ H' < G', respectively. Second, the values of (I) parameters(2, 3, 4 and 5) and (II) parameters(6, 7 and 8) are in orders of (I) H < G < R and (II) R < G < H. On the contrary, the values of the above two groups(I~II) of parameters for three planes show reverse orders. Third, to review the overall characteristics of the arrangement among the six diagrams, these diagrams show an order of R2 < R1 < G2 < G1 < H2 < H1 from the related chart. In other words, above six diagrams can be summarized in order of rift(R1 + R2) < grain(G1 + G2) < hardway(H1 + H2). These results indicate a relative magnitude of rock cleavage related to microcrack spacing. Especially, two parameters for each diagram, the above difference value($S_{mean}-S_{median}$) and mean spacing, could provide advanced information for prediction the order of arrangement among the diagrams. Finally, the general chart for three planes and three rock cleavages were made. From the related chart, three exponential straight lines for three rock cleavages show an order of R(R1 + R2) < G(G1 + G2) < H(H1 + H2). On the contrary, three lines for three planes show an order of H'(R2 + G2) < G'(R1 + H2) < R'(G1 + H1). Consequently, correlation of the mutually reverse order between three planes and three rock cleavages can be drawn from the related chart.

• Tuberculosis and Respiratory Diseases
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• v.48 no.4
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• pp.428-437
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• 2000

Background : Five year survival rate of postoperative stage I non-small cell lung cancer(NSCLC) reaches to 66%. In the remaining one third of patients, however, cancer recurs and the overall survival of NSCLC remains dismal. To evaluate clinical and pathologic characteristics of recurred NSCLC, the patterns and factors for postoperative recurrence in patients with staged I and II NSCLC were studied. Method : A retrospective analysis was performed in 234 patients who underwent radical resection for pathologic stage I and II NSCLC. All patients who were followed up for at least one year were included in this study. Results : 1) There were 177 men and 57 women The median age was 63. The median duration of the follow up period was 732 days (range 365~1,695 days). The overall recurrence rate was 26.5%, and the recurrence occurred $358.8{\pm}239.8$ days after operation. 2) The ages of recurred NSCLC patients were higher ($63.2{\pm}8.8$ years) than those of non-recurred patients ($60.3{\pm}9.8$ years)(p=0.043). The recurrence rate was higher in stage II (46.9%) than in stage I (18.8%) NSCLC p<0.001. The size of primary lung mass was larger in recurred ($5.45{\pm}3.22\;cm$) than that of non-recurred NSCLC ($3.74{\pm}1.75\;cm$, p<0.001). Interestingly, there were no recurrent cases when the resected primary tumor was less than 2cm. 3) Distant recurrence was more frequent than locoregional recurrence (66.1% vs. 33.9%). Distant recurrence rate was higher in females and in cases of adenocarcinoma. Brain metastasis was more frequent in patients with adenocarcinoma than in those with squamous cell carcinoma (p=0.024). Conclusion: The tumor size and stage were two important factors for determining the possibility of a recurrence. Because distant brain metastasis was more frequent in patients with adenocarinoma, a prospective study should be conducted to evaluate the effectiveness of preoperative brain imaging.

• Journal of The Korean Association For Science Education
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• v.32 no.1
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• pp.46-63
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• 2012

The purpose of this research is to explore factors which influence visitors' attention on exhibition panels by analyzing visitors' attention according to topic types and visitor group types. The subjects of this research are exhibition panels of a Tesla Coil exhibition in the Gwacheon National Science Museum. The exhibition panels' topic are basic concepts, explanations of phenomena, operating principles, applications and historical background. These topics are selected through a survey of visitors' intellectual needs for a Tesla Coil. Five new exhibition panels according to the topics are developed and visitor groups' behaviors in front of the panels are recoded in natural situations. The total participant groups are 586 groups, which includes individual student (30.0%), individual adult (20.6%), student group (28.2%), adult group(2.4%), and family group (18.8%). Visitors' attention to exhibition panels is sub-categorized into attracting power and holding power. Attracting power is defined by the percentile of group numbers who attend to an exhibition panel more than 3 seconds to the total group numbers who attend to an exhibition panel for more than a glance. Holding power is defined by average attention time and decay time. The attracting powers of historical background and application panels are 72.3% and 68.8% respectively, while that of the basic concept panel is 47%. Average attention times of explanation of phenomena and operating principle are 37.0 and 34.2 seconds, while those of historical background and application panels are 25.4 seconds. The decay times of each panel shows the same patterns of average attention times. Attracting powers of panels easy to approach and holding powers of panels with in-depth scientific concepts seems to be high. Attracting powers of the individual adult, family, and student group are 66.9%, 66.4% and 62.4% respectively, while the attracting power of the adult group and individual student are 57.1%, and 55.7%. Average attention times of the student group, family, adult groups are 34.0, 33.0, 31.6 seconds respectively, while that of individual student is 19.5 seconds. The decay times of each group shows the same patterns of average attention times. Both of attracting powers and average attention times of the student group and family group are high, while both of individual student are low. Tentatively, attracting powers of exhibition panels seems to be influenced more by topic types of panels, and holding power seems to be influenced more by group type. But these results are very limited and further studies are needed.

• Journal of Preventive Medicine and Public Health
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• v.31 no.3 s.62
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• pp.503-515
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• 1998

In order to investigate the factors influencing QOL and life satisfaction of the physically disabled, the author interviewed, by using structuralized questionnaire, 440 individuals among the physically disabled who were participated in Health Examination from April to July, 1997. The questionnaire consisted of the general characteristics(sex, age, marital status, family number, etc), the Reintegration to Normal Living Index(RNLI) to assess QOL, and the single item of five-likert scale to evaluate life satifaction. The means of RNLI were $16.2{\pm}4.8$ in total score, $12.2{\pm}3.4$ in daily functioning and $4.0{\pm}2.1$ in perception of self. The respondents were less reintegrated toward social activities and relationships than impairments or disabilities. While the satisfied group was 47.3%, the dissatisfied group was 52.7%. As the results of multiple regression and logistic regression analysis, the significant predictors of QOL were age, education, job, grade of disability and subjective health status. The life satisfaction were related to economic status, job and subjective health status. To improve QOL and life satisfaction of the physically disabled, it is important that we improve their basic socioeconomic status by getting a job through rehabilitation education and induce them to have positive self-assessment by extending the opportunity of social participation.

• Journal of Chest Surgery
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• v.36 no.3
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• pp.142-149
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• 2003

To know the feasibility of the coronary artery bypass graft (CABG) for multivessel coronary artery disease with purely bilateral internal thoracic arteries (ITAs), we analyzed the short-term clinical results and the coronary angiography of the patients. Material and Method: From March 2001 to June 2002, four hundred and five patients underwent CABG. Purely bilateral ITAs were used in 159 patients (39.3%). We analyzed these patients retrospectively The mean age of these patients was $61.2{\pm}8.5$ (range: 30 ~80) years and there were 123 male patients. The preoperative risk factors were as follows: diabetes in 54 patients (34.0%), history of acute myocardiac infarction within 4 weeks in 29 (18.2%), and emergency operation in 6 (3.8%). Off-pump CABG was carried out in 128 patients (80.5%). Associated procedures were mitral valvuloplasty (5), aortic valve replacement (3), Dor procedure (1), and so on. Result: The mean number of distal anastomoses was $3.1{\pm}0.9$ (range: 2~6), the mean duration of hospital stay was $8.4{\pm}4.5$ days. There was one (0.6%) operative death. Except for one early death, no other patients suffered from low cardiac output. The other postoperative complications were occurred as follows: reoperation due to bleeding in 3 patients, perioperative myocardiac infarction in 1, transient cardiac arrest in 2, transient cognitive dysfunction in 7, and transient ischemic attack in 1, and deep sternal wound infection in 1 patient. Recently, early postoperative angiography was performed in 19 patients who had triple vessel disease. The total number of distal anastomosis was 78 (mean $4.1{\pm}0.8$/patient). All distal anastomosis sites were patent, but competition flow was observed at the bypass sites where the native coronary artery stenosis was not significant. Conclusion: The CABG with purely bilateral ITAs for triple vessel disease was performed safely. The early patency rate was relatively good in small number of patients. However the long-term patency rate and the functional study to evaluate the sites where competition flow was observed should be followed.

• Journal of the Korean Society for Marine Environment & Energy
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• v.18 no.4
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• pp.304-309
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• 2015

To evaluate the degree of contamination caused by oil spill accident in the sea, the in-situ sensors which are based on the scientific method are needed in the real site. The sensors which are based on the fluorescence detection theory can provide the useful data, such as the concentration of oil. However these kinds of sensors commonly are composed of the ultraviolet (UV) light source such as UV mercury lamp, the multiple excitation/emission filters and the optical sensor which is mainly photomultiplier tube (PMT) type. Therefore, the size of the total sensing platform is large not suitable to be handled in the oil spill field and also the total price of it is extremely expensive. To overcome these drawbacks, we designed the fluorimeter for the oil spill detection which has compact size and cost effectiveness. Before the detail design process, we conducted the experiments to measure the excitation and emission spectrum of oils using five different kinds of crude oils and three different kinds of processed oils. And the fluorescence spectrometer were used to analyze the excitation and emission spectrum of oil samples. We have compared the spectrum results and drawn the each common spectrum regions of excitation and emission. In the experiments, we can see that the average gap between maximum excitation and emission peak wavelengths is near 50 nm for the every case. In the experiment which were fixed by the excitation wavelength of 365 nm and 405 nm, we can find out that the intensity of emission was weaker than that of 280 nm and 325 nm. So, if the light sources having the wavelength of 365 nm or 405 nm are used in the design process of fluorimeter, the optical sensor needs to have the sensitivity which can cover the weak light intensity. Through the results which were derived by the experiment, we can define the important factors which can be useful to select the effective wavelengths of light source, photo detector and filters.

• KDI Journal of Economic Policy
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• v.30 no.1
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• pp.1-31
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• 2008

Various opinions have been suggested to explain the slump in equipment investment, such as increased government regulations, shareholder-oriented management by expanded foreign equity investment, response against M&A threats, conservative investment trends seen after a series of bankruptcy of large conglomerates (amidst crumbling myth of "Too Big to Fail"), and financial restructuring. Some also argued that the increased uncertainty in business environment is mainly responsible for conservative management, though there are few domestic studies made regarding the situation. But, in other countries, including the U.S., studies have shown that more volatility is seen now surrounding stock prices, profitability, and sales growth rate reflecting business performance. Also, there are other studies showing such expanded volatility have led to conservative management by businesses. In this regard, this study reviews the volatility conditions of business performance of Korean companies based on profitability, and then attempts to analyze the impact on investment brought on by increased volatility. Each company's profitability volatility used here is from the standard deviation of companies for the past five years. As a profitability indicator, the ROA (= operating profit/total asset) is used. According to the analysis, profitability volatility has remarkably increased from the mid 3% in 1994 to low 5% in 2005. Profitability volatility of the Korean companies has expanded to a great extent since the financial crisis. The crisis might have served to raise the volatility in the macroeconomic conditions. If increased volatility observed during the economic crisis had gradually declined after the crisis, the situation could be interpreted as a temporary phenomenon, not to be too concerned over. But, this was not the case for Korea. The volatility level, after the crisis, has not dropped back to its pre-crisis level. Hence, in the Korea's case, high volatility cannot be explained by the impact of financial crisis. Not only that, the fact that such expansion is seen in every industrial sector indicates that this phenomenon cannot be explained by the composition change of industries alone. An undergoing study shows that with a rapid spread of globalization, industries fiercely competing with China experience more volatility. Such increased volatility tends to contract investment, and since the crisis the impact of volatility on investment has slightly increased. It is noteworthy that this study only includes a part of 'uncertainty' that could be measured statistically. For instance, the profitability volatility indicator used in this study is unable to reflect all the effects that the tacit reduction of protection by the government or regulations might have made. So, the result here also indicates that other 'uncertain' factors not mentioned in this study may have served to contract investment sentiment. It would be impossible for policies to completely remove uncertainties measured by profitability volatility, but at least it is necessary to put effort to reduce the macroeconomic volatility in the future economic management. Stabilized macroeconomic management may not be enough to diminish all volatility that occurs within each company, but it would make a meaningful contribution in encouraging investment.