• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

• Journal of the Korean Society of Costume
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• v.62 no.5
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• pp.171-180
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• 2012

Purchasing behavior of brand clothes in internet shopping mall is largely used on the purpose of having a good quality of clothing, price advantage and shopping efficiency. This study aims to find out consumer's evaluation on the properties of brand clothes in internet shopping mall according to consumer's brand attitude(brand identification and brand pursue value). The influences consumers' evaluation of the properties of brand clothes on the purchase satisfaction and off-line brand image evaluation were also investigated. This study surveyed male and female consumers in their 20s~40s for empirical analysis in August 2011 who have purchased brand clothing through internet shopping malls. The survey was conducted on 254 subjects who were selected through online convenience sampling. Data were analyzed by using SPSS for Windows 12.0, and descriptive statistics, reliability analysis, factor analysis, and regression analysis were done as well. The results are as follows. First, it was identified that consumers' brand identification and brand pursue value had significant influence on the evaluation of physical, functional, and expressional product properties. Second, it was identified that consumers' evaluation on the brand clothing properties significantly influenced on internet purchase satisfaction and brand image evaluation. Especially, expressive property of brand clothes appeared to be the most influential factor on purchase satisfaction and brand image evaluation. The results of this study will help clothing companies with prestigious brand names to administer the product qualities with differentiation policy from off-line sales and satisfy the consumer needs in internet shopping, hence enhancing the brand image of the company.

• Journal of Digital Convergence
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• v.14 no.5
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• pp.177-183
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• 2016

The purpose of this study is to analyze the affecting factors and debt characteristics with household debt. The method of analysis was used SPSS 22.0. The main results were as follows. First, psychological debt burden group were found to be lower academic background, more household members, job in agriculture, forestry and fisheries and women among demographic characteristics. This suggests the need for the governments who are interested in the risk from household debt. Second, psychological debt burden group showed higher level of debt and average monthly debt repayments. This study implies that it is necessary to do financial education and consulting. Third, psychological debt burden group seemed that the households with more the average monthly interest payments and repayments on income, the more total liabilities compared to total assets. As the ages get higher, it was gradually increased. It suggests that the development of psychological counseling program for debtor with household debt. Other factors(property prices or the financial environments) will be dealt with in the subsequent studies.

• Journal of the East Asian Society of Dietary Life
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• v.21 no.5
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• pp.771-778
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• 2011

This study surveyed the performance of food styling and recognition and utility properties of menu development for cooks in a super deluxe hotel. The questionnaires developed for this study were distributed to 400 males and females aged 20 and over. A total of 375 questionnaires were used for analysis (93.8%), and statistical analysis was completed using SPSS (version 14.0) for descriptive analysis and ${\chi}^2$-test. The most important item in food styling was 'harmony of food shape' (40.2%), and second ranked was 'harmony of food color' (23.4%). The most difficult item in food styling was 'lack of professional knowledge' (38.3%) followed by 'lack of creativity' (27.7%). In recognition of menu development, the importance of menu development and promotion was 3.82, and personal satisfaction after menu development was 3.29. Important items in menu development were 'taste' (41.8%) and 'use of new ingredient' (28.5%). When using newly developed menu, the ratio of selling new menu was '30~50%' at 42.7%, and the average selling period of new menu was '3~6 months' at 40.5%. For the effect of new menu on sales, 94.1% were aware of this effect, and to actively promote menu development, 'providing incentive' (35.7%), 'training in/out of country' (20.8%), 'self motivation' (17.3%), 'financial support' (14.7%), and 'motive' (11.5%) were all necessary requirements. In order to improve cooking performance, continued education on food styling and menu development along with the company's full support are required. Further, thorough training of employees is needed along with a high quality incentive policy needs to be done. In addition, to make the new menu profitable, an active marketing strategy must be employed, which will require further study.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.319-326
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• 2013

There are many software reliability models that are based on the times of occurrences of errors in the debugging of software. Software error detection techniques known in advance, but influencing factors for considering the errors found automatically and learning factors, by prior experience, to find precisely the error factor setting up the testing manager are presented comparing the problem. It is shown that it is possible to do asymptotic likelihood inference for software reliability models based on infinite failure model and non-homogeneous Poisson Processes (NHPP). Statistical process control (SPC) can monitor the forecasting of software failure and thereby contribute significantly to the improvement of software reliability. Control charts are widely used for software process control in the software industry. In this paper, we proposed a control mechanism based on NHPP using mean value function of logarithmic hazard learning effects property.

• Journal of Korean Society of Forest Science
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• v.31 no.1
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• pp.21-29
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• 1976

In foreign countries the national forests began to emerge when the modern body politic came into being and looked upon forests as an indispensible source of national wealth to the effect that eachnation virtually nationalized the forests to promote the public interest such as erosion prevention and water source stability. Most of the forests that are now in national ownership used to be the estates of kings and feudal lords in the Middle Ages. In Korea in national forests come into being toward the end of Yi-dynasty as an outcome of the Japanese colonial policy under which, with the purpose of exploiting the forest resources, the dense forests of large area were systematically transferred into national property to be controlled by establishing the echelon of the national forest stations. The main task of these stations was to fell lumber to no limits.

• Journal of Aerospace System Engineering
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• v.14 no.5
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• pp.83-90
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• 2020

Disasters are causing significant damage to the lives and property of our society and are recognized as social problems that need to be solved nationally and globally. The 4th industrial revolution technologies affecting society as a whole such as the Internet of Things(IoT), Artificial Intelligence(AI), Drones(Unmanned Aerial Vehicles), and Big Data are continuously absorbed into the disaster and safety industries as scientific and technological tools for solving social problems. Very soon, twenty-nine domestic UAV-related organizations/companies will complete the construction of a multicopter type small UAV integrated system ('17~'20) that can be operated at disaster and security sites. The current work considers and proposes the mid-to-long term R&D direction of disaster UAV as a strategic asset of the national disaster response system. First, the trends of disaster and safety industry and policy are analyzed. Subsequently, the development status and future plans of small UAV, securing shortage technology, and strengthening competitiveness are analyzed. Finally, step-by-step R&D direction of disaster UAV in terms of development strategy, specialized mission, platform, communication, and control and operation is proposed.

• International Commerce and Information Review
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• v.18 no.4
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• pp.165-193
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• 2016

This paper conducts a comparative analysis of the KORUS FTA and the TPP Agreement to assess the current state of affairs in international trade rules for the pharmaceutical industry. Intellectual property rights as well as public health related regulations have evolved to strengthen the position of innovator drug companies. In particular, the TPP Agreement which adopted data exclusivity for biologics for the first time, will set the standard for the future. Apart from this however, the TPP Agreement has not gone further than the KORUS FTA and in some respects, even contains greater policy flexibilities and provisions for market access than the KORUS FTA. Korea should take advantage of such differences when and if she must engage in negotiations to join the TPP Agreement or a renegotiation of the KORUS FTA.

• Journal of Digital Convergence
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• v.10 no.5
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• pp.185-191
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• 2012

This study deals with the technical approach related to the protection of digital video contents copyright, which has currently become a major issue in the digital contents market. With the production and distribution of digital video contents rapidly increasing, various policies and technical approaches are being made in relation to the protection of intellectual property rights. The technical approach from a DRM (Digital Rights Management) perspective was made from various angles, but its limitations have also been exposed in terms of convenience and quality. In this study, rather than the existing encoding certification and watermark technologies, it introduces technical approaches from a content-based copy detection method, while suggesting a copy detection method using the representative color sequence. In particular, this study takes into consideration the distribution environment of the domestic video market and deals with the technical approach in a direction that can control the illegal distribution of high quality videos.

• Journal of Digital Convergence
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• v.15 no.11
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• pp.97-105
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• 2017

In this study, we investigate how organizational learning affects corporate performance through the medium of intangible assets. And based on the relationship, we tried to empirically analyze organizational learning and intangible assets typified by purpose. Although trianing on the business performance method affects positively on product / service improvement and market dominance expansion, training on the knowledge management method has a positive effect only on product / service improvement, Respectively. As a result of analyzing the mediating effects, it was found that the training on the business performance method was mediating only to the expansion of market dominance, and trianing on the knowledge management method and the cost of organizational learning was not mediated. Therefore, it is found that the operation of organizational learning and the acquisition of intangible assets are essential to improve corporate performance.