• Journal of the Korea Convergence Society
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• v.13 no.4
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• pp.397-407
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• 2022

This study examines the effect of deviant strategies on corporate value and future performance by departing from the same strategy as other firms in the same industry. Business strategy affects the development and growth potential of a firm and becomes an important factor in determining future performance and corporate value. Business strategies differ according to industrial characteristics, and a firm that implements a heterogeneous strategy within the same industry may have different future performance or corporate value compared to other firms. This study analyzed listed firms from 2011 to 2019 in order to verify the effect of strategic deviation on the relationship between future performance or corporate value. The analysis results are as follows. First, strategic deviation was found to have a positive (+) effect on corporate value, but it was found to have a negative (-) effect on future performance and also affect the persistence of performance. These results are meaningful in examining the effect of strategic deviation on corporate value or future performance and performance persistence by classifying strategies in prior studies and expanding the results that the type of strategy affects corporate value and future performance.

• Journal of Korea Trade
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• v.27 no.1
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• pp.60-78
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• 2023

Purpose - The study analyzed 90 online firms worldwise and observed them for ten years to investigate their investments and firm performance variabilities. This study attemped to verify the existence of agency problems in online firms. Through this, the paper intends to expand the scope of research in the fields of investment and firm value both empirically and in theory. This study also attempted to supplement the insufficient logic of previous studies by analyzing the relationship between investment and profitability. Design/methodology - In this study, the investment is subdivided into over-, under-, and neutral investments, and an empirical analysis of the firm performance was conducted. As investment generally has long-term effects, the impact of a firm's investment on future firm performance and variabilities in firm performance was considered over the short-and medium-term period. Findings - It was found that there was a negative relationship between firms with an overinvestment and future firm performance. Underinvestment has no clear statistically significant results on firm performance. This implies that overinvestment causes more reduction in future firm performance than underinvestment. It was also found that underinvestment and overinvestment significantly increased the variability of firm performance. A positive significance was found between under- and over- investment with a variability of 3 years and overinvestment with a variability of 4 years in the future. A negative relationship was found between neutral investment propensity and future performance variabilities. Neutral investment has less effect on the future performance variability of a firm than a firm's overinvestment and underinvestment. For online firms, underinvestment and overinvestment have a greater effect on the firm's future performance variability than neutral investment. Originality/value - The agency theory predicts that information asymmetry and adverse selection problems exacerbate conflicts of interest among stakeholders, thus firm performance. The study contributed to accumulating research on online firms that are currently underexplored by analyzing the investment behavior of major firms in the online industry.

• Journal of Families and Better Life
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• v.25 no.4
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• pp.1-16
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• 2007

The purpose of this study is to examine adolescent future orientation in relation to education, work and career, and marriage and family. This study also explores the effects of adolescent future orientation in relation to their psychosocial characteristics: self-esteem, self-control, scholastic performance, and sexual permissiveness. Data were collected from 345 students in the second grade (male: 166, female: 179) of two middle schools in Seoul, Korea. Scale for adolescent future orientation was formulated based on literature review. The major findings of this study were as follows. Adolescents were found to be more future-oriented in the areas of work and career and in the area of marriage and family than in the area of education. Several hierarchical multiple regression analyses were also performed to examine the contribution of socio-demographic characteristics and future orientation to predictions of adolescent psychosocial characteristics. This study found that adolescent future orientation significantly predicted their self-esteem, self-control, and scholastic performance, while having no significant influence on sexual permissiveness.

• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.319-328
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• 2017

Earnings management is a collection of management decisions which firms do not report the true performance. Many prior studies suggest that earnings management could be the results of either managerial earnings management or manager's private information for future performance. This study attempts to delve into the fundamental implications inherent in earnings management by analyzing how earnings management affects future firm performance in public institutions. If discretionary accruals as a measurement of earnings management embrace manager's private information, it will have a positive effect on future performance in succeeding period. In contrast, if discretionary accruals embrace manager's opportunistic earnings management, it will have a negative effect on future performance in succeeding period. Empirical findings are summarized as following.: Earnings managements are negatively associated with future firm performance for all succeeding period. This negative relationship continues for all succeeding period. The overall results can be serve as a evidence that the discretionary accruals capture opportunistic earnings management on average.

• Journal of Communications and Networks
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• v.13 no.6
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• pp.591-601
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• 2011

Today's Internet which provides communication channels with best-effort end-to-end performance is rapidly evolving into an autonomic global computing platform. Achieving autonomicity in the Future Internet will require a performance architecture that (a) allows users to request and own 'slices' of geographically-distributed host and network resources, (b) measures and monitors end-to-end host and network status, (c) enables analysis of the measurements within expert systems, and (d) provides performance intelligence in a timely manner for application adaptations to improve performance and scalability. We describe the requirements and design of one such "Future Internet performance architecture" (FIPA), and present our reference implementation of FIPA called 'OnTimeMeasure.' OnTimeMeasure comprises of several measurement-related services that can interact with each other and with existing measurement frameworks to enable performance intelligence. We also explain our OnTimeMeasure deployment in the global environment for network innovations (GENI) infrastructure collaborative research initiative to build a sliceable Future Internet. Further, we present an applicationad-aptation case study in GENI that uses OnTimeMeasure-enabled performance intelligence in the context of dynamic resource allocation within thin-client based virtual desktop clouds. We show how a virtual desktop cloud provider in the Future Internet can use the performance intelligence to increase cloud scalability, while simultaneously delivering satisfactory user quality-of-experience.

• International Commerce and Information Review
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• v.12 no.1
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• pp.299-325
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• 2010

The purpose of this empirical study is an index to usage of export assistance programs for korean small-medium exporters. Build around the index make an analysis of SMEs internal or exterior factors have an effect on export at present or in future export performance and the relative importance. Based on 128 surveys form korean SMEs experienced export assistance programs, 8 hypotheses, which are set up each factor, were verified through the practical analysis. The main result of hypothesis drawn by empirical study are as follows : The more SMEs use the programs, the more high export performance at present and in future. Export competitive factor reject at present export performance, but it will affect future export performance. A size of the firm in the characteristics of SEMs will affect export performance. Export rate of own brand will not affect performance. Another factors show adoption partly concerned hypothesis. Classified exterior factors of SMEs, a intensity of market competition shows adoption partly concerned hypothesis. Market growth rate will affect export performance at present and future strongly. Finally the usage of assistance programs will affect between a consumption goods and an industrial goods differently. From this study we found if we want to develop the export assistance programs that can actually in phases help the SEMs.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.17 no.6
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• pp.169-179
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• 2017

The objective of this study is to identify the influence of utilization of SNS among consumers who watch performance art on their behavioral intention in the future when there has been an increasing usage of SNS among consumers along with an increasing importance of SNS in the field of performance art and also the influence of SNS characteristics on behavioral intention of performance art consumers in the future according to their preferred genres. According to the results of empirical analysis in this study, usefulness, pleasure, and social influence, as SNS characteristics, turned out to positively influence on behavioral intention in the future. According to the result of analysis in difference of influence on behavioral intention in the future depending on preferred performance art genre, usefulness, pleasure, and availability in order among SNS characteristics turned out to influence on behavioral intention in the future in pop-music/entertainment concert. In addition, only usefulness turned out to influence on behavioral intention in the musical. Usefulness and availability in order turned out to influence on behavioral intention in the act. Lastly, only usefulness turned out to influence on behavioral intention in the music/ballet. According to aforementioned results of the study, it implies that SNS characteristics of performance art audiences are influencing on behavioral intention in the future. In addition, since there is a difference in behavioral intention in the future among art consumers in each genre, it is required to differentiate utilization and strategies of SNS in each genre.

• Advances in environmental research
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• v.2 no.3
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• pp.203-227
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• 2013

Global demand for dwelling energy and implications of changing climatic conditions on buildings confront the built environment to build sustainable dwellings. This study investigates the variability of future climatic conditions on newly built detached dwellings in the UK. Series of energy modelling and simulations are performed on ten detached houses to evaluate and predict the impact of varying future climatic patterns on five building performance indicators. The study identifies and quantifies a consistent declining trend of building performance which is in consonance with current scientific knowledge of annual temperature change prediction in relations to long term climatic variation. The average percentage decrease for the annual energy consumption was predicted to be 2.80, 6.60 and 10.56 for 2020s, 2050s and 2080s time lines respectively. A similar declining trend in the case of annual natural gas consumption was 4.24, 9.98 and 16.1, and that for building emission rate and heating demand were 2.27, 5.49 and 8.72 and 7.82, 18.43 and 29.46 respectively. The study further analyse future heating and cooling demands of the three warmest months of the year and ascertain future variance in relative humidity and indoor temperature which might necessitate the use of room cooling systems to provide thermal comfort.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.305-313
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• 2019

The study examines whether higher CEO compensation is related to unobserved future firm performance in an emerging market, Pakistan. Further, it extends its scope to analyzing the impact of group affiliation and ownership concentration on the relationship between CEO compensation and future firm performance. The study uses an unbalanced panel data consisting of 1508 firm-year observations from 225 non-financial listed companies in Pakistan Stock Exchange (PSX) for period 2005 to 2012. The multiple regression models adjusted to heteroskedasticity and autocorrelation in error terms are used. The study finds that, in general, CEO compensation is positively associated with future operating performance. However, higher CEO compensation leads to lower operating performance in firms that have lower ownership concentration and are affiliated with business groups. When firms are not affiliated with any group and have high ownership concentration, the relationship between excessive CEO compensation and future operating performance becomes insignificant. Given that efficient compensation packages may lead to long term value creation to shareholders and reduce agency problems, this study highlights an important moderating role of ownership concentration and group affiliation of the firms in emerging markets.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.31-40
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• 2020

This study investigates whether other comprehensive income (OCI) reported in the statement of comprehensive income (one of the main financial statements after the adoption of K-IFRS) predicts a firm's future performance. Using the quarterly data of Korean listed companies, we examine the association between OCI estimates and future earnings. First of all, we find that OCI is positively associated with earnings in both 1- and 2-quarter ahead, supporting the predictive value of OCI. When we break down OCI into its individual components, our results suggest that the net unrealized gains/losses on available-for-sale (AFS) investment securities are positively associated with future earnings, while the other components (e.g., net unrealized gains/losses on valuation of cash flow hedge derivatives) present insignificant results. In addition, we investigate whether the reliability in OCI estimates enhances the predictive value of OCI to predict future performance. We find that the predictive ability of OCI, in particular the net unrealized gains/losses on available-for-sale (AFS) investment securities, becomes more pronounced when firms are audited by the Big 4 audit firms. Overall, our study suggests that information content embedded in OCI can provide decision-useful information that is helpful for the prediction of future firm performance.