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Incremental Effect and Determinants of Equity to Shareholders in Regal Management - Forcusing on Non-Listed Firms - (법정관리의 주주지분증가효과와 결정요인 - 비상장기업을 중심으로 -)

  • Kang, Ho-Jung
    • Proceedings of the Korea Contents Association Conference
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    • 2006.11a
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    • pp.327-332
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    • 2006
  • Entering legal management, shareholders receive some payment. We call this phenomenon the deviations from absolute priority. This study focuses on incremental effect and determinants of equity to shareholders by wealth transfer from creditors to stockholders in the process of legal management. The main results of this study can by summarized as follows. First, the incremental effect of equity to shareholders is common in the sample of this study. The sample contains 46 non-listed firms that filed for legal management and had confirmed their reorganization plans. Second, the results of the regression model analyzing the determinants of incremental equity to shareholders in legal management show that it is negative related to the solvency(total debt/total asset), firm size, and weight of claims for secured creditors and banks significantly. but corporate reorganization period(from filing to confirmation)are not significant.

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A Trend Analysis of Market Structure in the Korean Daily Newspaper Industry (타일지수와 이동지표를 활용한 미디어 시장구조 분석 전국종합일간지 시장을 중심으로)

  • Oh, Jeongho
    • Korean journal of communication and information
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    • v.78
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    • pp.141-176
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    • 2016
  • This study investigates changes of market structure from 2001 to 2015 in the Korean daily newspaper industry using concentration and mobility measures. The main empirical results are as follows. First, the industry's total asset shows a U-shaped trend, despite the downward trend of the industry's total sales revenue. Second, the market concentration, measured in terms of assets, shows the trend of an inverted-U shape. The relatively small firms, measured in terms of assets, have on average gained in market share while the relatively large firm have lost. Third, market concentration, measured in terms of sales revenues, shows a U-shaped trend. the relatively small firms, measured in terms of sales revenues, have on average gained in market share while the relatively large firm have lost. My central argument has been that it is desirable to supplement traditional concentration measures with mobility statistics and trend analyses in investigating and regulating market structure.

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Technique of Range Query in Encrypted Database (암호화 데이터베이스에서 영역 질의를 위한 기술)

  • Kim, Cheon-Shik;Kim, Hyoung-Joong;Hong, You-Sik
    • Journal of the Institute of Electronics Engineers of Korea CI
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    • v.45 no.3
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    • pp.22-30
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    • 2008
  • Recently, protection of personal information is getting more important. Many countries have legislated about the protection of personal information. Now, the protection of relevant personal information is required not for a simple image of enterprises but law obligation. Most databases in enterprises used to store customers' names, addresses and credit card numbers with no exceptions. The personal information about a person is sensitive, and this asset is strategic. Therefore, most enterprises make an effort to preserve personal information safely. If someone, however, hacks password information of DBMS manager, no one can trust this system. Therefore, encryption is required based in order to protect data in the database. Because of database encryption, however, it is the problem of database performance in terms of computation time and the limited SQL query. Thus, we proposed an efficient query method to solve the problem of encrypted data in this paper.

Financing Sources for College Education - Demands of Current Incomes, Savings, and Education Loans (대학교육비 지불원천에 관한 분석 - 소득, 저축, 학자금대출의 사용여부와 사용액)

  • Cha, Kyung-Wook;Joung, Soon-Hee
    • Journal of Families and Better Life
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    • v.24 no.5 s.83
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    • pp.251-270
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    • 2006
  • This study examined how the households used and combined financing sources to pay for college education. It compared the probability of using each source (current incomes, saving, education loans and grants) by households' socio-economic characteristics and analyzed which factors influence the decision to use each source and the amounts from each source for financing college education. Data for this study were from a questionnaire completed by 4-year college students (n=623) and were analyzed by t-tests, ANOVA and Heckman's two-step estimation models. The findings of this study were as follows: First, the most frequent source for college education was parents' savings and the second one was parents' incomes. Also, the most frequent combination of sources was saving and current incomes and the second was combination of three sources, saving, incomes and education loans. Second, the probability of using incomes was higher for younger students than for older students. The number of siblings showed significant differences among income, savings and education loans. Those who had higher incomes were more likely to use current incomes, saving, but less likely to borrow for financing college education. Middle-class income groups were more likely to borrow for education. Third, household incomes and asset holdings had generally positive impacts on the probability of using incomes and savings for college education, while total debt burden decreased both the probability and amounts of income and saving sources. The college costs had significantly positive effects on both the probability and the amounts of all of financing sources. Total grants received significantly decreased the amounts from incomes, savings and borrowing sources.

A Study on the Model Development for Intellectual Capital Valuation (지적자본 가치평가 모델 개발에 관한 연구)

  • Kym, Hyo-Gun;Moon, Yun-Ji
    • Information Systems Review
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    • v.4 no.1
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    • pp.69-87
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    • 2002
  • As the society of knowledge becomes, the most competitive resource for corporations is knowledge. Furthermore corporations may evaluate and improve latent knowledge of `Intellectual Capital' (IC), which will be directly related with the existence of corporation in the future. Although it has been researched and proposed to evaluate IC value that is ignored relatively to tangible asset, the indexes of evaluating IC have never been examined and have been adopted by many corporations. Furthermore, as there is no systematic model to evaluate IC value, each corporation should re-evaluate IC valuation model. Economic wastes have been created under this situation. Therefore this study intends to develop a synthetic and systematic model for IC valuation. Consequently the model is consisted of 3 dimensions, 10 factors, 22 evaluation criteria, and 82 indexes, which was necessary for IC valuation. This model will be practically applied to IC valuation of corporations.

A Photogrammetric Network and Object Field Design for Efficient Self-Calibration of Non-metric Digital Cameras (비측정용 디지털 카메라의 효율적인 자체 검정을 위한 대상지 구성)

  • Oh Jae-Hong;Eo Yang-Dam;Lee Chang-No
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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    • v.24 no.3
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    • pp.281-288
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    • 2006
  • Recent increase in the number of pixels of a non-metric digital camera encourages to use it for close-range photogrammetry such as modeling cultural asset and buildings. However, these cameras have to be calibrated far close-range photogrammetry application. For self-calibration, an appropriate pbotograrnmetric network and object field should be designed. In this paper, we studied the effect on self-calibration accuracy changes according to the change of the number of ground control points, dimensions of the ground control points, and the combination of images. We concluded that self-calibration with three photos including a vertical photo can give the stable accuracy of interior orientation parameters and 10 ground control points on a plane can give high accuracy for object reconstruction.

The Study on Relation between Company's Efforts for Quality Management(6 sigma) and Financial Performance (6 시그마 품질경영을 위한 노력이 기업의 재무적 성과에 미치는 영향분석)

  • Park, Jae-Young;Ryu, Changheon;Park, Minjae;Kwon, Kyoung-Min;You, Gunjae
    • Journal of Korean Society for Quality Management
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    • v.42 no.3
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    • pp.361-372
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    • 2014
  • Purpose: In this paper, we investigate whether the endeavors for 6 sigma quality management by a firm have positive effects on its financial performance and the length of 6 sigma implemented period affects its financial status. Methods: We conduct the analysis using the data from Workplace Panel Survey 2009. We use multiple linear regression in order to analyze the relationship between the efforts for quality management and financial performance. Specifically, the return on assets (ROA) and return on equity (ROE) are investigated as dependent variables and the efforts for quality management as independent variable. The Box-Cox transformation and Cook's distance are also used. Results: As a result of the analysis, the indication is that companies that put effect into the six sigma quality management have a positive result in its financial status. In detail, the efforts for six sigma quality management have positive effects on total asset turnover ratio and six sigma implemented period on net income to net sales ratio. Additionally, companies with longer(shorter) period of six sigma program have more (less) improvement in its financial status. Conclusion: It can be concluded that the company's efforts for quality management positively influence financial performance.

A Study on the Training System of Institutional Repository Staffs (기관 레포지토리 실무자 연수 체계에 관한 연구)

  • Cho, Jane
    • Journal of the Korean BIBLIA Society for library and Information Science
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    • v.24 no.4
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    • pp.5-22
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    • 2013
  • Institutional repository has been regarded as core facilities of research libraries to realize open access by collecting, preserving, distributing of intellectual asset what institution has created. In our country, many universities and research institutions are trying to introduce institutional repository system. But almost universities not only take the negative attitude to manage properly, but also never give basic training to staff members who take over institutional repository job. This study brightens up the current status of Korean training system and compares the British and Japanese cases what shows diverse advanced managing cases. Furthermore, by putting together demands of hands-on workers, suggest direction of future institutional repository staff training system. First, institutional repository staff training system has to suggest strategies to induce strong support from institution. Second, it has to give not only courses about content collecting and registering, but also practical training. Finally, the program for enhancing system management technology has to be provided, and the place where technical staffs can share their system information mutually has to be provided.

Households' Financial Status Estimation with Financial Ratios (재무비율을 이용한 소득계층별 가계재무구조분석)

  • Huh, Kyung-Ok;Han, Su-Jin
    • Korean Journal of Human Ecology
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    • v.14 no.4
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    • pp.613-629
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    • 2005
  • This research analyzes household financial structures and ratios to understand factors of household utility. Its main themes are as following: First, what kinds financial structures are found at each level of income? Second, how are they different by the level of income? Third, what factors contribute to appropriate financial ratios? The themes are supported by the texts on financial ratios from both inside and outside of Korea and proved by the Korean Labor and Income Panel Survey, the fifth annual edition. The households are exempted that do not support the household principle record in the principle and household economy record. Accordingly, this survey is from a financial structure analysis of 3,762 households. The analysis utilizes SPSS Window (Version 10.0) program. The following are the results: First, the income level 4 and above, in which the increasing number indicates a higher level of income, are highly ranked on the income-expense level and the asset-debt rate. Also, level 4 has a strong financial structure, whereas level 1 does not. Apparently, the management of the household is complicated by debt redemption and a lower level of assets. Second, Ratio 1, Ratio 2, Ratio 4, and Ratio 5 are different by the level of income. Third, the level of income contributes to the appropriate financial ratio. The financial safety and prospective financial structure at each income level is an important variable. Households with a high income, in particular, have to balance their finances and capital, reducing liabilities and increasing the total assets. In other words, the family must hold assets to enhance efficiency according to the character and income level of the household. This research is a useful resource for such a decision-making as to improve household financial structure stability. Also, it can be adopted to evaluate financial products for specific households and be used for economic and social welfare planning to predict how households influence the nationwide economy.

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Product-Line Architecture Development for Self-Adaptive Software (적응형 소프트웨어를 위한 프로덕트 라인 아키텍처 개발)

  • Ye, Eun-Suk;Yeom, Keun-Hyuk;Moon, Mi-Kyeong
    • The KIPS Transactions:PartD
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    • v.15D no.3
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    • pp.361-374
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    • 2008
  • In the latest intelligent computing environments, the self-adaptive software, as new software paradigm, which modifies its own behavior in response to changes in its operating environment is needed. To develop the self-adaptive software, it is necessary to analyze and design the context of software as well as the structure and the behavior of software. We need more efforts for self-adaptive software development than for traditional software development because we need more activities and technologies like context modeling and adaptation to develop the self-adaptive software. In this paper, we present the product line architecture for self-adaptive software and templates of artifacts to improve the efficiency of development through a reuse methodology. The artifacts of the architecture support the systematic reuse activities of core assets by expressing the commonality and variability of product line.