• Title/Summary/Keyword: Relationship Exchange

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A study of the relationship between corporate governance and real earnings management: Based on foreign investors and growth (기업지배구조와 실제이익조정의 관계 연구: 외국인투자자와 성장성을 중심으로)

  • Kang, Shin-Ae;Kim, Tae-Joong
    • Journal of Distribution Science
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    • v.12 no.4
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    • pp.85-92
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    • 2014
  • Purpose - This study conducted empirical research on non-financial corporations listed on the stock exchange from 2001 to 2010, focusing on the effects of corporate governance on real earnings management of corporations. In particular, this study examined primarily the impact of the largest shareholder who could use earnings management to pursue his own self-interest, and foreign investors who played a checking role against the largest shareholders. The study also reviewed the relationship between corporate governance and earnings management while also considering corporate growth. Research design, data, and methodology - As for the measurements of real earnings management, abnormal operating cash flow and abnormal production cost were utilized. As for the independent variables, share ratio of the largest shareholder and affiliate person (M) and share ratio of foreign investors (FT) were leveraged. This study excluded those organizations that had changed their fiscal years, those that had not submitted an audit report, corporations under supervision, delisted corporations, corporations that had changed their business type, and so on, from the non-financial corporations out of the publicly traded corporations whose fiscal year ended in December from 2001 to 2010 in addition, KIS values were utilized for the corporate financial data in the study. To verify whether management structure and growth had an impact on real earnings management of a corporation through empirical analysis, a multiple regression analysis model was applied. Result - First, as a result of the analysis, the share ratio (M) of the largest shareholder and affiliate person was found to have a significant positive correlation with abnormal cash flow from operations(ACF) and abnormal production cost (APD). When controlling the growth, the share ratio (M) of the largest shareholder and affiliate person was found to have an insignificant correlation with abnormal cash flow from operations(ACF) but a significant correlation with abnormal production cost (APD). Second, foreign ownership (FT) was found to have a significant positive correlation with abnormal cash flow from operations(ACF) and abnormal production cost (APD) at the confidence level of 1 percent when not including the growth dummy. When controlling the growth, foreign ownership (FT) was found to have a significant negative correlation with abnormal cash flow from operations (ACF) and with abnormal production cost (APD). Conclusion - The results imply that the largest shareholder is closely related to earnings management through real activities regardless of corporate growth. It is also possible to determine from these results that foreign investors are related to earnings management through real activities when not considering corporate growth, but that they would reduce earnings management in the case of considering the growth. Thus, this study verified along with the existing studies that foreign investors were conducting the control function on controlling shareholders.

The Effect of Working Capital Management on Corporate Performance (운전자본관리가 기업성과에 미치는 영향)

  • Kam, Hyung Kyu;Shin, Yong Jae
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.17 no.6
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    • pp.173-180
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    • 2016
  • This study examines the effect of firms' working capital management on their performance for a sample of non-financial companies listed on the Korea Exchange (KRX). The working capital and corporate performance are measured as the ratio of the net working capital to sales and return on assets, respectively. The results are as follows. First, there is no significant relationship between the working capital and corporate performance in the total sample. Second, the working capital is positively related to the firms' performance in the negative working capital group while the working capital is negatively related to the corporate performance in the positive working capital group. These findings indicate the existence of an optimal working capital level for firms. Third, the firms' financial constraints have no effects on the relationship between the working capital and corporate performance. This suggests that there are no interactive effects among the working capital, financial constraints, and profitability of the firms. This study implicates that managers should consider the different roles and impacts when developing an efficient working capital management strategy.

Relationship between the DNA content of human chromosome and their contribution to radiation-induced chromosome aberration analysed by fluorescence in situ hybridization(FISH) (방사선에 의한 염색체이상과 DNA 함량과의 관계)

  • Chung, Hai-Won;Kim, Su-Young;Ha, Sung-Whan;Kim, Tae-Hwan;Cho, Chul-Koo
    • Journal of Radiation Protection and Research
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    • v.26 no.2
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    • pp.101-111
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    • 2001
  • To study the relationship between the DNA content of human chromosomes and their involvement in radiation-induced structural chromosome aberrations, the frequencies of translocations and dicentrics induced in human lymphocytes after in vitro exposure to 2Gy of x-tay were analysed by fluorescence in situ hybridization(FISH). Single whole chromosome probes(WCP), specific for chromosomes 1, 2, 4, 7, 8, 9, and 21 and triple combination of probes tot chromosome 1, 2 & 4 were used separately. A significant deviation of the frequency of symmetrical translocation and dicentrics from a DNA-proportional distribution was observed. Chromosomes 2, 7, 8, 9 and 21 were less frequently involved in the formation of symmetrical translocations and dicentrics than expected, whereas chromosomes 1 and 4 were more frequently involved. Chromosome 2 and 4 showed a higher frequency of acentric fragments. When triple combination probe for chromosome 1, 2 & 4 was used, no differences were found between the observed and expected frequency of exchange type aberrations. The results showed that the frequency of radiation-induced chromosome aberrations was not proportional to DNA contents, suggesting the difference in the susceptibility to specific aberrations among individual chromosomes. The results also indicated that the FISH technique with combination of probes for chromosome 1, 2 & 4 was useful for radiation biodosimetry.

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The Roles of Economic Benefits and Identity Salience: Inducing Factors in the Behavioral Intent to Use Outlet Shopping Centers (아울렛 쇼핑센터의 이용의도에서 아이덴티티 현저성의 요인과 경제성의 역할)

  • Choi, Nak-Hwan;Lim, Ah-Young;An, Lina
    • Journal of Distribution Science
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    • v.11 no.6
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    • pp.41-50
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    • 2013
  • Purpose - Inducing consumers' behavioral intent to use an outlet shopping center is a critical issue for managers since it can be used as a guide for developing marketing strategies. Low prices could lead to a growth in retail purchases, but there might also be a positive relationship between prices and customer perceptions of product quality. The extent to which consumers use price as a predictor of quality may differ according to the availability of important alternative cues such as brand, store name, and identity salience triggered by the store. Consumers can obtain non-economic benefits from marketing exchanges that go beyond basic economic achievement. We argue that identity salience can play a crucial mediating role when consumers, acting as exchange partners, seek to obtain social benefits. This study shows that identity salience could mediate the relationship between identity salience-inducing factors such as multi-finality, prestige and role performance, and consumers' behavioral intent to use an outlet shopping center. Research design, data and methodology - The survey was conducted on college students enrolled in marketing classes. A total of 200 questionnaires were distributed, of which only 194 were returned. After five incomplete questionnaires were excluded, a final sample of 189 was used for empirical analysis. Using a covariance structural analysis in Amos17, we confirmed the fit of the research model and estimated its parameters by using the maximum likelihood method. Results - The results of the hypotheses testing are as follows. First, both identity salience and economic benefits have positive effects on the behavioral intent to use an outlet shopping center. Second, role performance, prestige, and multi-finality have positive effects on identity salience. Finally, the additive analysis of the direct effects of identity salience-inducing factors shows that the role performance, prestige, and multi-finality factors have no direct effects on the behavioral intent to use an outlet shopping center, suggesting that identity salience plays a positive mediating role. Conclusions - This study informs marketers that not only price but shoppers' identity salience directly affects their intent to visit an outlet shopping center. To strengthen shoppers' identity salience, marketers should find ways to help shoppers fulfill their multiple social roles, realize their multiple goals, and achieve prestige. In other words, outlet shopping centers must improve their personal service environment in order to enhance their employees' service quality and assist the execution of multi-finality by minimizing the perceived costs (e.g., travel time, effort) associated with shopping trips, thus making it easier for consumers to combine visits to multiple stores in outlet shopping centers and buy the items required for their consumption goals. Outlet shopping centers must also offer assortments with both breadth and depth in order to help consumers play the social roles their social networks have given them.

The Effect of the Supervisor's Transformational Leadership on Employees' Work Engagement : Focusing on the Mediating Effects of Psychological Contract Breach and Organizational Anomie (변혁적 리더십이 직무열의에 미치는 영향: 심리적 계약 위반과 조직아노미의 매개효과를 중심으로)

  • Bae, Chae-Yoon;Shin, Je-Goo
    • The Journal of the Korea Contents Association
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    • v.16 no.11
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    • pp.281-307
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    • 2016
  • The goal of this study was to verify that effectiveness of transformational leadership in impacting work engagement with the psychological contract breach among members of the organization and organizational anomie as mediating factors. The mediating effect of psychological contract breach and organizational anomie on the relationship between transformational leadership and work engagement was explored using a theoretical approach based on Social Exchange Theory, Social Information Processing Model and Job Demands- Resources Model. To avoid common method bias, the dependent variable was surveyed using employee peer review. 277 surveys were collected from 18 companies in diverse industries including manufacturing, distribution, and finance. The results of the analysis showed that transformational leadership has a significant positive effect on employees' work engagement, while having a significant negative effect on psychological contract breach and organizational anomie. In addition, psychological contract breach and organizational anomie were found to act as partial mediators in the relationship between transformational leadership and employees' work engagement. Overall, this study showed that if leaders at organizations can assist employees to overcome negative factors such as psychological contract breach and organizational anomie through transformational leadership, it is possible to improve employees' work engagement.

A Multimedia Presentation Authoring System based on Conceptual Temporal Relations (개념적 시간관계 기반의 멀티미디어 프레젠테이션 저작 시스템)

  • 노승진;장진희;성미영
    • Journal of KIISE:Computing Practices and Letters
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    • v.9 no.3
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    • pp.266-277
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    • 2003
  • Every conceptual temporal rat relationship can be described using one of seven relations (before, meets, overlaps, during, starts, finishes, and equals ). The conceptual representation provides an efficient means for our multimedia authoring system to automatically fill in the necessary timing details. We developed a multimedia Presentation authoring system that supports a mechanism for conceptually representing the temporal relations of different media. Among the many editors that make up our system, the temporal relation editor provides users with an intuitive mechanism for representing the conceptual flow of a presentation by simple and direct graphical manipulations. Our system is based on the SMIL(Synchronized Multimedia Integration Language). The conceptual temporal relation editor and other editors of our system exchange their information in real-time and automatically generate SMIL codes through the SMIL Object Manager. Our system uses TRN(Temporal Relation Network) as its internal multimedia presentation representation. The TRN corresponds exactly to the structure seen in the graphical representation of the presentation. A parallel relationship found in a TRN can be collapsed into a single synchronization block. This facilitates the determination of the playing time of each component and can be the basic unit for reusability of already prepared blocks of presentation code.

Awareness and Needs of Original Inhabitants on Urban to Rural Migration (귀농귀촌에 대한 원주민의 인식과 욕구)

  • Lee, Jun-Woo;Hong, Yoo-Mi
    • The Journal of the Korea Contents Association
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    • v.18 no.10
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    • pp.217-228
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    • 2018
  • The purpose of this study is to observe the awareness and needs of original inhabitants on urban to rural migration and propose public projects with a consideration of their stance based on the results. To comprehend their awareness and needs on urban to rural migration through their experience related to it, focus group interview was done and three categories were identified as a result, which are 'relative deprivation', 'limitations and difficulties of urban to rural migration', and 'plans for successful settlement'. First, the original inhabitants were discontent towards the government policies related to urban to rural migration and migrant's behaviors seemed to form negative perception on it. Second, financial difficulty and trouble in stable crop cultivation and acquirement of farming techniques were identified as limitations and difficulties of urban to rural migration. Third, the original inhabitants recognized the need of direct communication between original inhabitants and migrants and activation of meetings for exchange of information to positive relationship between the two groups and migrants should have proper attitude and effort to learn the rural culture for interaction and cooperation. Fourth, there's in need for an institution, which serves as a focal point that provides information and support urban to rural migration. Fifth, successful plans for settlements of migrants thought by the original inhabitants were found. Sixth, there's a need for the original inhabitants to play the role of a mentor to the migrants for their settlement and to promote positive relationship between them.

The Effect of Donations Feedback and Donation Awareness to Donation Continuity Intention (기부금 사용 내역 피드백과 기부인식이 기부지속에 미치는 영향)

  • Suh, Munshik;Oh, Daeyang
    • Journal of Digital Convergence
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    • v.16 no.3
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    • pp.129-143
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    • 2018
  • The purpose of this study was to examine the effect of donation expenditure details and the shift in awareness as a result of disclosure of donation expenditure details in order to promote constant donation by nonprofit organizations in the course of marketing activities. The first experiment was configured through $2{\times}2$ intergroup element design based on 2(feedback on donation expenditure details: available vs. unavailable) ${\times}$ 2(donation awareness: expenditure vs. exchange), and furthermore, MANOVA was performed. The results showed that the satisfaction with donation was higher when the donation expenditure details were disclosed(M=5.125, SD=0.437) and that the relation maintenance intention was higher(p<0.01) when the donation expenditure details were disclosed M=5.328, SD=0.459). In addition, the main effect was validated by using the bootstrapping method. The results of overall model validation showed that satisfaction & trust(=0.843, p<0.01) and satisfaction(=0.267, p<0.01) and trust(=0.691, p<0.01) had a positive(+) relationship. Based on aforesaid results, donors are expected to have greater trust if nonprofit organizations make effort to ensure transparent and detailed disclosure of information on expenditure of donations made by donors. Succeeding studies would need to investigate the effect that might vary depending on the type of feedback methods, etc.

PrimeFilter: An Efficient XML Data Filtering based on Prime Number Indexing (PrimeFilter: 소수 인덱싱 기법에 기반한 효율적 XML 데이타 필터링)

  • Kim, Jae-Hoon;Kim, Sang-Wook;Park, Seog
    • Journal of KIISE:Databases
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    • v.35 no.5
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    • pp.421-431
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    • 2008
  • Recently XML is becoming a de facto standard for online data exchange between heterogeneous systems and also the research of streaming XML data filtering comes into the spotlight. Since streaming XML data filtering technique needs rapid matching of queries with XML data, it is required that the query processing should be efficiently performed. Until now, most of researches focused only on partial sharing of path expressions or efficient predicate processing and they were work for time and space efficiency. However, if containment relationship between queries is previously calculated and the lowest level query is matched with XML data, we can easily get a result that high level queries can match with the XML data without any other processing. That is, using this containment technique can be another optimal solution for streaming XML data filtering. In this paper, we suggest an efficient XML data filtering based on prime number indexing and containment relationship between queries. Through some experimental results, we present that our suggested method has a better performance than the existing method. All experiments have shown that our method has a more than two times better performance even though each experiment has its own distinct test purpose.

Community Recovery Considering the Spatial Characteristics of Shanty Towns (저소득층 주거지 공간적 특성을 고려한 공동체 회복)

  • Shin, Haeng-Woo;Kim, Young-Ook
    • Land and Housing Review
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    • v.7 no.2
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    • pp.97-102
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    • 2016
  • It has recently become a major concern for us contemplating could regain the advantage with a 'village' concept of the traditional in a modern city. The village community recovery project which is one of the flagship projects of seoul is being actively conducted with the aim to form a network between residents and have even appeared positive results. Among the many efforts to recover community, spatial approach may be one solution. To secure a space for people to easily access, may bring about a small but significant effect. Community Space with high visual accessibility has a large effect as a space of communication and exchange of residents. Socio-economic efforts to restore the community has a limit. In some cases of poor village, Spatial relationship network was found to be a large influence on the formation of the socio-economic relations network. It is important to understand how people lived and formed a relationship within the space of traditional forms and space disappeared from rapid social change process. The community recovery efforts are needed through research and experiments for the residential network can reflect the spatial characteristics.