• Journal of the Korea Convergence Society
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• v.10 no.11
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• pp.345-352
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• 2019

This paper examines the opportunistic behavior of corporate insiders and analyzes the relationship between equity change and the possibility of delisting. The findings are summarized as follows. First, the larger the stake reduction of insider, the greater the negative excess return after announcement. In the delisting firm group, there is a significant decrease in equity and statistically significant results in the difference test between the comparative groups. The logistic regression analysis showed that the regression coefficient of equity change was negatively statistically significant, indicating a significant correlation between insider share change and the possibility of delisting. These findings are expected not only to provide useful information for investors, but also to be evidence of capital market information asymmetry.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.11
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• pp.637-643
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• 2017

This study analyzed the Quality of Accounting Earning of Investor Relations(IR). For this, we utilized Book-Tax Difference Variability as the proxy of the level of the Quality of Accounting Earning. This study used 2,106 sample data from 2011 to 2016 on the listed firm on KOSPI(Korea Composite Stock Price Index). In short, the study results are as follows. Investor Relation(IR) has a negative relevance with Book-Tax Difference Variability, which agreed with the result of additional analysis using extra sample. According to these results, we can expect that Investor Relations(IR) firms will report more faithful Accounting Earning. This study makes the following fresh contribution to the field. The study result confirms how Investor Relation(IR) affects the Quality of Accounting Earning. We hope that this study will help the development of capital market.

• Journal of Families and Better Life
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• v.30 no.6
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• pp.167-181
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• 2012

This study analyzed consumer's harsh complaining behaviors and firm's reactions toward consumers' harsh complaining behavior, and investigated the differences in the firms' reactions according to the characteristics of counselors and customer service centers. In addition, this study attempted to find a strategy and provide guidance regarding consumer's harsh complaining behaviors. The results of this study are discussed below. First, consumer's harsh complaining attitudes were expressed by crude language, violent language, threats, personal attacks, and claims of a high-ranking social position. Consumer's directive, complaining behaviors were repeated on the telephone, and threats of prosecution or disclosure to the public, exposure of habitual product returns, and requests for interviews with superiorsat the representative firm were made. Second, a firm typologies according to its reaction style toward a consumer's harsh complaining behaviors were as follows: Group 1, having a neutral attitude toward consumers and preparation thoroughly regarding their demands; Group 2, having a negative attitude toward consumers and some degree of preparation toward consumers' demands; and finally, Group 3, having a positive attitude toward consumers but offering insufficient reparation regarding consumers' demands. Third, female counselors, counselors having a certified counselor's license, and those much experience working in labor work were more likely to be in Group 3. Male counselors, part-time counselors, and those having experience of many years were more likely to be in Group 2. Group 1 were more likely to have large number of workers at customer service centers, male counselors, and to have large numbers of educational training programs related to the reactions of consumers in the form of dissatisfaction, complaints, how to offer compensation for injuries to consumers, and issues related to PL(product liability). In addition, Group 1 also had more firm level welfare policies related to hight stress levels of consumer counselors and extra types of support regarding harsh consumers. However, Group 2 members were more likely to provide excessive compensation and rewards to harsh consumers. Finally, to react to consumer's harsh complaint efficiently, it was suggested that firms should not treat consumers as harsh consumers, should react to consumers' complaints sincerely, and should take precautionary management efforts as regards consumer dissatisfaction based on better quality control of products. In addition, it was deemed necessary to formulate a management strategy to train competent consumer counselors with a high quality of counselor skill, having standardized and consistent reaction guidance toward consumer complaints and thorough knowledge of compensation rules for consumer injuries and subsequent guidance.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.4
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• pp.515-524
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• 2022

To effectively collect, manage, and share the maritime traffic information, it is necessary to identify the technology trends concerning this particular information and analyze its current status and problems. Therefore, this study observes the domestic and foreign technology trends involving maritime traffic information while analyzing and summarizing the current status and problems in collecting, managing, and sharing it. According to the data analysis, the problems in the collecting stage are difficulties in collecting visual information from long-distance radars, CCTVs, and cameras in areas outside the LTE network coverage. Notably, this explains the challenges in detecting smuggling ships entering the territorial waters through the exclusive economic zone (EEZ) in the early stage. The problems in the management stage include difficult reductions and expansions of maritime traffic information caused by the lack of flexibility in storage spaces mostly constructed by the maritime transportation system. Additionally, it is challenging to deal with system failure with system redundancy and backup as a countermeasure. Furthermore, the problems in the sharing stage show that it is difficult to share information with external operating organizations since the internal network is mainly used to share maritime transportation information. If at all through the government cloud via platforms such as LRIT and SASS, it often fails to effectively provide various S/W applications that help use maritime big data. Therefore, it is suggested that collecting equipment such as unmanned aerial vehicles and satellites should be constructed to expand collecting areas in the collecting stage. In the management and sharing stages, the introduction and construction of private clouds are suggested, considering the operational administration and information disclosure of each maritime transportation system. Through these efforts, an enhancement of the expertise and security of clouds is expected.

• Korean Journal of Construction Engineering and Management
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• v.15 no.6
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• pp.105-112
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• 2014

The objective of this study is to examine the relationship between the degree of business diversification of a construction company and two of the indicators that represent financial stability, namely, a current ratio and a debt ratio, in order to draw policy implications. The current ratio and the debt ratio were used as variables that represent financial stability of a construction company. Berry-Herfindahl Index was used to measure the degree of business portfolio diversification of a construction company. For the analysis, quarterly time series data were retrieved from the financial information disclosure system of Korea's Financial Supervisory Service for the period between the first quarter of 2001 and the third quarter of 2013. The analysis results showed that a higher current ratio and a debt ratio led to a greater extent of business diversification. A higher level of business diversification led to a higher current ratio and a lower debt ratio. It was also shown that the impact of business diversification on the current ratio and the debt ratio outweighed the impact of changes in the current ratio and the debt ratio on business diversification. Meanwhile, an increase in the level of business diversification showed a quite positive effect as it raised the current ratio and lowered the debt ratio of a construction company. These findings suggest that diversification of business portfolio is essential for construction companies to strengthen their financial stability.

• Journal of Industrial Convergence
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• v.21 no.4
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• pp.65-72
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• 2023

This study's purpose is to verify how the periodically designated auditor in the recently implemented periodic auditor designation system affects audit quality. In this study, hypotheses were established by reviewing previous studies, and 980 samples of 2019 and 2020 were selected for KOSPI-listed companies. Dechow & Dichev (2002)'s accrual quality was used as the dependent variable, and the effect of whether or not a company was periodically designated as an auditor and whether or not a Big 4 auditor was selected was empirically analyzed. As a result of the analysis and correlation analysis, a statistically significant difference was confirmed in the quality of the dependent variable accrual and the independent variable designated auditor (PA). However, as a result of the regression analysis model 1, it was found that the designated auditor was not significant, but it was confirmed that there was a significant difference in the control variables. Further analysis confirmed the difference in audit quality according to the Big 4 auditors. This study is significant in that it is a study that uses empirical data to study the effect of audit quality and the selection of regularly designated auditor companies after the introduction in 2019 and 2020. Due to the non-disclosure of government-designated companies, there is a limit that there may be a difference from the selection based on the researcher's published selection criteria.

• Journal of Navigation and Port Research
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• v.40 no.4
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• pp.213-222
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• 2016

Recently, as cases of organizations' information disclosure occur continuously, it is urgent to manage security of information and establish measures to enhance security of information by an organization itself. Especially, members of an organization should be prepared with measures for information security, and an organization should do its efforts to raise its members' awareness toward information security. I set a research model to verify what effects an organization's fulfillment of regulations to secure information brings to performance of information security and selected members from maritime and port organizations and financial and insurance institutes as sample. Results of the analysis to identify factors affecting information security performance among members of maritime and port organizations are as follows. Firstly, I found that the factors affecting information security awareness are information security attitude and information security standards. Secondly, the factor giving influence on information security policy of an organization was found to be information security standards. In contrast, information security punishments and information security training were verified not to give influence on compliance of information security policy. Thirdly, information security awareness was identified to give significant influence on compliance of information security policy, information security competence and information security behavior. Fourthly, compliance of information security policy was verified to be those factors that give influence on information security competence and information security behavior. Lastly, information security competence and information security behavior were found to be such factors that give influence on information security performance.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.34 no.3
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• pp.193-201
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• 2024

Objectives: Paints contain various types of metal substances. However, our review of MSDS (Material Safety Data Sheets) for paints found that their components were often kept secret or exact content information was otherwise not provided. We analyzed the metal elements in various inorganic pigment-based paints available in South Korea in this study and checked whether they contain hazardous metal substances as defined by the Occupational Safety and Health Acts. We investigated issues of health hazard classification related to the metal elements. The study is intended to contribute to strengthening the management of hazardous substances by suggesting improvements to MSDS. Methods: We randomly selected 19 samples that were predicted to contain hazardous inorganic pigments after reviewing MSDS among paints currently in use. The samples were analyzed using XRF (X-ray Fluorescence spectrometry), ICP_OES (Inductively Coupled Plasma-Optical Emission Spectroscopy) and SP-ICP-MS (Single Particle-ICP-Mass Spectroscopy). Results: The most common elements in the samples were Al (aluminum), Fe (iron), Ti (titanium), Ca (calcium), and Si (silica). One sample contained more lead than allowed by the limits. There were ten samples that could potentially contain nanoforms, seven samples that contained titanium dioxide, and six samples that contained complex inorganic color pigments (CICPs). Conclusions: Inorganic pigments in paints should be evaluated for hazards separately from other metallic compounds and reflected in the MSDS because they have different characteristics than other metallic compounds. These include particle size, crystal structure, and complex substances. The results of this study can be helpful for determining whether a paint contains sufficient hazardous metal compounds to affect its classification, and it can be a guideline for improving MSDS through comparative review and rationalization with the manufacturer's MSDS. This would make it possible to contribute to the management of chemical substances in the workplace through the proper MSDS disclosure of paints.

• Korean Association of Arts Management
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• no.53
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• pp.101-125
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• 2020

This paper presents the problems and improvement methods in estimating demand and benefit, which have been controversial in the feasibility study of building cultural facilities. Although there are justifications for supplying cultural facilities by expanding leisure time and increasing income, the economic burden from the insolvent operation after construction is high. Feasibility studies can prevent these problems in advance. In order to estimate the demand for cultural facilities, similar facilities were selected and the gravity model was used to estimate the demand. In the future, it is necessary to prepare the criteria for setting the reference facility to increase the accuracy of the demand estimation. In addition, in the case of cultural facilities constructed through feasibility study, it is necessary to induce and enforce the disclosure of operational data and information, and to establish a database so that it can be used as a reference facility for demand estimation in future feasibility study on cultural facility. Accurate benefit estimation requires multiple CVM surveys. In addition to the current CVM survey, this paper suggest that supplementary online non-face-to-face surveys is considered. Furthermore, this research suggests that the use of video media for explanation of alternative materials for cultural facilities to be constructed because the WTP may be excessive due to lack of alternatives for survey respondents in the current CVM survey.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.4
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• pp.55-67
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• 2024

This study aims to identify signals that can predict the quality of startups aiming to be listed on Korea's KOSDAQ market. The startups are divided into two groups: those backed by venture capital, where a third party has addressed information asymmetry, and those not backed by venture capital. The study seeks to identify signals to help select good companies for each group. The study primarily focuses on underpricing, which strongly correlates with company quality. It aims to investigate the causal relationship between underpricing and independent variables such as underwriter reputation, institutional investor competition rate, locked-up share ratio, and extended lockup period. The empirical analysis shows that IPOs with high institutional investor subscription competition, IPOs of start-ups without VC backing matched with reputable lead managers, and IPOs with high lockup shares of start-ups with VC backing are significantly underpriced. This study provides a theoretical and logical basis for strategically choosing the level of underpricing, considering the circumstances of the firm going public, mainly whether it is VC-backed or not, and considering the effectiveness of other signals mentioned above. It also opens the door for further research by researchers in other regions to study institutional investors' subscription ratio as the pre-listing signal that can help address information asymmetry. From a policymaker's perspective, the disclosure of the above information can be considered to reduce information asymmetry for investors.