• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.103-115
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• 2021

This study investigates the relationship between family ownership and the stock price crash risk. It believes that this relationship would never be in direct connection. The authors design and then find that family ownership is predisposed, in the first place, to the related party transaction, then the related party transaction causes the future stock price crash. This study infers that employing the power of family ownership creates the Type I agency problem, although this is not relevant for the Type II problem. From the perspective of the hoarding theory, family ownerships produce opaque accounts by blurring financial information. The blurred information is probably hidden in the related party transactions. This study, therefore, splits these transactions into accounts receivable, other accounts receivable and other receivables. Finally, this research concludes that the family ownership affects related party transactions. These then are used as an instrument to influence the leaded related party transaction. The latest, leaded related party transactions influence the future stock price crash. This study infers that related party transactions are abusive practices, especially on the types of receivables. It implies corporate governance's revitalisation.

• Korean Journal of Legislative Studies
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• v.25 no.2
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• pp.35-67
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• 2019

This study aims to analyze and evaluate the outcomes of the far-right parties in the 2019 European Parliament (hereinafter EP) elections. To this end, this study refrains from the conventional method of analyzing the number of seats of the political group(s) classified as far-right in the EP. Instead, the study takes a method based on the party family classification by summing up the number of the EP members who have been elected to the far-right party within individual member states. There are two reasons for the analysis of EP election results based on this far-right party family. Firstly, some of the far-right members of the EP do not join the political group(s) classified as far-right, and secondly, some of the political group(s) classified as far-right tends to be inhomogeneous. In this vein, this study attempts to analyze the outcomes of the far-right party in the 2019 EP elections based on the classification of the far-right party family. As a result, this study shows that the assessment of the European major press based on the number of seats of the political group(s) classified as far-right in the EP was inconsistent with the actual political landscape. According to the analysis of election results based on the classification of the far-right party family, the number of seats secured by the far-right parties in the 2019 EP elections corresponded to or significantly exceeded the results of previous polls. In addition, this is a significant increase in the seats of the far-right parties compared to the 2014 EP elections, and it is reasonable to affirm that the far-right parties have made great strides in the 2019 EP elections.

• Human Ecology Research
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• v.53 no.2
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• pp.131-141
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• 2015

The purpose of this study is to examine a potential association between community factors and the establishment of Local Healthy Family Support Centers (LHFSCs). Community factors were population size, community size, local finance independency, number of workplaces per 1,000 people, number of colleges, political party affiliation of mayor, and political party affiliation of congressman. Data of this study were collected from the census indicators of 222 communities from 2004 to 2014 and analyzed by frequency, mean, geographical information system mapping, and the binary logit analysis. The results of this study are as follows. First, LHFSCs are less likely to be established in communities in the provinces of Gangwon, Chungbuk, and Gyeongbuk. Second, the population size was positively related to the establishment of LHFSCs. Third, finance independency was positively associated with the establishment of LHFSCs. Forth, a mayor was more likely to establish LHFSCs if they were affiliated with the ruling conservative political party. However, the establishment of LHFSCs was not affected by other factors such as community scale, number of workplaces per 1,000 people, the number of colleges, and party affiliation of congressman. Thus, the conclusion suggests family policy implications to improve the geographical imbalance of LHFSCs based on the analysis results.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.49-55
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• 2018

Purpose - This paper examines the effect of related party transactions on crash firm-specific stock price crash risk. Ownership of a typical Korean conglomerate is concentrated in a single family. In those entities, management and board positions are often filled by family members. Therefore, a dominant shareholder can benefit from related party transactions. In Korea, firms have to report related party transactions in financial statement footnotes. However, those are not disclosed in detail. The more related party transactions are the greater information risk. Thus, companies with related party transactions are likely to experience stock price crashes. Research design, data, and methodology - 2,598 firm-year observations are used for the main analysis. Those samples are from TS2000 database from 2009 to 2013, and the database covers KOSPI-listed firms in Korea. The proxy for related party transactions (RTP) is calculated by dividing total transactions to the related-party by total sales. A dummy variable is used as a dependent variable (CRASH) in the regression model. Logistic regression is used to explain the relationship between related party transactions and crash risk. Then, the sample was separated into two groups; tunneling firms and propping firms. The relation between related party transactions and crash risk variances with features of the transaction were investigated. Results - Using a sample of KOSPI-listed firms in TS2000 database for the period of 2009-2013, I find that stock price crash risk increases as the trade volume of related-party transactions increases. Specifically, I find that the coefficient of RPT is significantly positive, supporting the prediction. In addition, this relationship is strong and robust in tunneling firms. Conclusions - The results report that firms with related party transactions are more likely to experience stock price crashes. The results mean that related party transactions increase the possibility of future stock price crashes by enlarging information asymmetry between controlling shareholders and minority shareholders. In case of tunneling, it could be seen that related party transactions are positively associated with stock crash risk. The result implies that the characteristic of the transaction influences crash risk. This study is related to a literature that investigates the effect of related party transactions on the stock market.

• Journal of the Korean Society of Food Culture
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• v.24 no.1
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• pp.23-32
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• 2009

This study was conducted to generate fundamental data required by food coordinators and food space creators for planning and directing table settings. The results of this study were then used to suggest an ideal model of table settings for Korean-style food equipped with simple, sophisticated, and practical characteristics. Specifically, this study evaluated the importance of hygiene (safety, cleanness, arrangement), decoration (dignity, form, stylishness, presentation of food on plates), naturalness (seasonal beauty, comfortableness, natural beauty), and modernity (modern style, chic style, urban style). These factors were evaluated according to the preference of the table setting and the characteristics of the meeting, which fit various meal cultures, times, places, and objectives. The results of this study indicate that people prefer hygiene and decoration for family meetings (bansang setting), hygiene and modernity for friendly meetings (simple buffet setting), hygiene and decoration for company meetings (simple buffet setting), and hygiene and decoration for academic meetings (tea party). Hygiene and decoration were highly evaluated in most cases, which indicates that individuals at meetings for special purposes give weight to the meeting's atmosphere, but also consider the hygiene and cleanliness of the food.

• Journal of the East Asian Society of Dietary Life
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• v.1 no.1
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• pp.43-51
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• 1991

To examine the royal party procedures of Chosun-Dynasty, the authors analyzed“Jin Chan Eui Gue”, which is a historical record, published in 1887(King Go-Jong), on the party of royal family in the Man Kyong Jeon. The results obtained from the study were as follows. 1. The Main party and the evening party in the Man Kyong Jeon were the drinking ceremony in celebration of eigthieth birthday of the King Go-Jong's grandmother. 2. The following day party and the following evening party in the Man Kyong Jeon were the drinking ceremony for wishing the King Go-Jong good health. 3. The next following day party and the next following evening party in the Man Kyong Jeon were the drinking ceremony for wishing the Crown Prince good health. 4. In the following day party and the next following day party, there were procedures distributing flowers among the attendants. 5. A lot of flowers were used in the royal party of Man Kyong Jeon:Distributed flowers(1550), Dining table flowers(5519), Table flowers(2) ad Neckwear flowers(7015).

• Journal of Distribution Science
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• v.15 no.4
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• pp.5-13
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• 2017

Purpose - This research analyzes the effects of Korean family ownership characteristics on firm value. The positive and negative effects of family ownership on Korean firm value were analyzed. If negative effects are evident, this research explores the factors that cause a decrease in firm value. Research design, data, and methodology - The study examined a total of 5,743 companies listed on the Korea Exchange from the period 2002 to 2012 using a panel data regression analysis. Result - An empirical analysis suggests that Korean family ownership diminishes firm value. Korean family firm value has been reduced when controlling shareholders are participated in management and pursue excessive wages, or make the management entrenchment effects associated with ownership-control disparity. When the controlling shareholders of family firms have increasing control rights over the shareholders' general meeting and the directors' board, the agency costs associated with seeking increasing executive wages or private benefits reduce firm value. Conclusions - This study has significance because it reveals the negative effect of family ownership in Korea on firm value. These negative effects can be the result of agency problems from controlling family shareholders seeking excessive wages or ownership-control disparity.

• Journal of Family Resource Management and Policy Review
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• v.8 no.3
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• pp.1-14
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• 2004

This is a historical study of the tea culture and its manners after checking the origin of the tea culture in Korea. Also I created the Blooming Lotus Pond Tea which can be utilized in various meetings or at homes in connection with the tea culture and etiquette by studying good manners, clothing and light refreshments in 'Kyucongyogyul' by Lee-E, 'Karyejibramdo' by Kim Jang-Seng and other books of the Chosun Dynasty. I created the Blooming Lotus Pond Tea by referring to the tea-ceremonies described in the poems by Hong Inmo, his wife, Lady Suh, and her descendants. They can be better harmonized with the modem tea culture rather than the strict procedures of traditional court ceremonies or marriage, funeral, and other formal tea ceremonies. About the costumes of the nobilities, that is especially referred to Kyukmongyogyul by Lee-I of the Chosun Dynasty for the etiquette, also 'The Living Manners' by Professor Lee Gilpyo and Choi Baeyong. In addition, the tea-food is made based on 'the five elements'. The Blooming Lotus Pond Tea is made of frozen lotus flowers and prepared in the lotus formed broad-rimmed tea-utensils and supposed to be shared with family members or guests. It's recommended to hold a poetry-party with a tea-party. At present, this kind of daily tea ceremony is being developed at homes. It'll be desirable if it could recreate the traditional way as a ceremonial tea culture. In that case, it'll regain the quality of the traditional etiquette by harmonizing tea culture and manners. Such a tea culture can contribute to the quality of people's ordinary life and the identity of our country.

• Journal of the Korean Society of Food Culture
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• v.4 no.1
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• pp.21-37
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• 1989

This paper studied what kind of foods were served how often in the table of the Royal family birthday parties by analyzing 18 sets of the Royal family birthday party menu with respect to the rank of Royal family for each season respectively among all the kinds of food menu of Chosun Dynasty. From this sudy a good representation of primary Royal King's birthday menu could be drown. The menu of the King was most in variety. And the King was served in the range of 46 to 74 kinds of food and its number of dishes varied 28 to 40, and the other royal family were served in the range of 19 to 44 kinds of foods and its number of dishes varied 15 to 26. The menu included variable dishes such as Yoomilkwa (fried cookies 油蜜果) 7, Gangjung 17 (fried rice cookies 姜?) 17, Dasik (mold cookies 茶食) 8, Suksilkwa (cooked fruits 熟實果) 1, Jungkwa (compoted fruit 正果) 1, Byung (rice cakes 餠) 25, Umchung (punch 飮淸) 4, Sengka (fresh fruits 生果) 21, Jusik (main meal 主食) 4, Chanpum (side dishes 饌品) 27, Jomipum (sauce, honey, mustard 調味品 ) 3.

• The Journal of the Korea Contents Association
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• v.14 no.4
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• pp.29-36
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• 2014

The recent small-scaled family form is making a great influence on sharing pictures of their children with family as well. As parents are usually taking pictures of their children with their smart-phones, the form of sharing pictures with families through SNS or text messages or uploading pictures of their children in mobile mini-homepage is becoming prominent these days. But when events of an each family member taking pictures occur, such as in 'the hundredth day party' or 'first birthday party' and exchange them through text messages or SNS, it would be difficult to gather their children's picture and view them all together other than the ones that they took themselves as it is difficult to send each and every picture. Also, another problem of managing pictures occur because the source of picture all differ from each other. There fore, to solve these problems, this study intends to suggest a co-family managerial photo management mobile application UI for family members to participate in gathering and organizing pictures that they took with their own smart-phones in a specific space and produce a mobile album.