• Title/Summary/Keyword: Return experience

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The Effects of CEO's Narcissism on Diversification Strategy and Performance in an Economic Downturn: The Moderating Role of Corporate Governance System (경기침체기의 다각화전략과 성과에 대한 최고경영자 나르시시즘의 영향과 기업지배구조의 조절효과에 대한 연구)

  • Yoo, Jae-Wook
    • Management & Information Systems Review
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    • v.35 no.4
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    • pp.1-19
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    • 2016
  • The researchers in strategic management have focused on identifying the effects of CEO's demographic characteristics and experience on the strategic choices and performance of firms. On the other hand, they have failed to identifying the effects of CEO's psychological characteristics on them because of the difficulties over data collection and measurement for variables. To overcome this limitation of prior researches, this study is designed to achieve two specific objectives. The first is to examine the effect of CEO narcissism on diversification strategy and performance of listed corporations on Korean securities market in an economic downturn. The other is to examine the moderating effects of various corporate governance systems that are related to board and/or ownership structures on those relationships. The empirical setting for this study was drawn from a multi-year(2011~2014) sample of large listed corporations in Korean securities market. To achieve the objectives, the hypotheses of research are analyzed by implementing multiple regression analyses in two separate models. The results of these analyses show that CEO narcissism is positively related to the diversification of listed large corporations in Korean securities market. Regrading the moderating effects, the stake of institutional investors weakens the positive relationship between CEO narcissism and firm's diversification. The findings of this research imply that CEO narcissism can intensify the tendency of Korean corporations to adopt high-risk and high return strategy in an economic downturn. Thus, firms might be able to use CEO narcissism to drastically restructure the business portfolio in an economic downturn. However, Korean corporations should be very cautions to maximize the positive effect of CEO narcissism. They might be use the institutional investors as their corporate governance system to monitor and control the opportunism of CEO in the decision for diversification in an economic downturn.

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Study on the Factors Influencing the Investment Performance of Domestic Venture Capital Funds (국내 벤처펀드의 투자성과에 영향을 미치는 요인에 관한 연구)

  • InMo Yeo;HyeonJu Park;KwangYong Gim
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.5
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    • pp.63-75
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    • 2023
  • This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

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A Study on Functional Status after Childbirth under the Sanhujori (산후 여성의 기능 상태에 관한 연구)

  • Yoo, Eun-Kwang
    • Women's Health Nursing
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    • v.5 no.3
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    • pp.410-419
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    • 1999
  • This study sought to figure out women's functional status after childbirth under the Sanhujori. Functioal status was defined as the women's readiness to assume infant care responsibilities and resume her usual activities including household, social and community, self-care and occupational activity. A convenience sample of 211 women who are in the postpartal period of the range from 1 week to 3 months above and residing in Seoul. Korea was studied from January, 1997 to December, 1998 for two years. Mean age of respondents was 29.9 years and mean of the present postpartal period was 7.5 weeks. The present postpartal period was of 5-8 weeks 26.5%, 3-4weeks 26.1%, 9-12 week 23.7% and below 2 weeks 7.1%, 32.7% of women had a job and the mean period of return to job was 2.76 weeks. During Sanhujori the non professional care giver was family members from women's maiden home 73.5% and only 2% of husband. The period women needed for the recovery from now was 5.39 weeks and it means that women need 12.9weeks for recovery after childbirth. For the present subjective health status after childbirth, bad was 20.2%, good 18.3 and average 61.5% and for the recovery status, completely recovered 29.5%, slightly 61.8% and rarely 8.7%. The mean of functional status at the 7.5weeks was baby care activity 3.65, household 2.57, self-care 2.46, occupational 2.44 and social 1.53 in rank. Except baby care the functional status was generally low or very low. The related factors to the functional status were the period and subjective evaluation of Sanhujori women experienced, the present period of postpartum, and subjective feeling of recovery. This result strongly reflects the effects of Sanhujori culture and Sanhujori per se on women's postpartal life including functional status and reconfirmed the relationship between health status and the experience of Sanhujori after delivery as the previous findings from various study showed. It provides a challenge to the professional care givers to research further on the effects of Sanhujori on the health status, health recovery after abortion or delivery from the various aspects through the cross-sectional and longitudinal research for the refinement of the reality of Sanhujori not only as cultural phenomenon but as an inseparable factor influencing in women's postpartal healthy adaptation and for the appropriateness of intervention and quality of care for desirable health outcome.

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A Case of Micturition Syncope in a Child (소아에서 발현한 배뇨 후 실신 1례)

  • Lee, Sun Youn;Ryu, Su Jeong;Kim, Deok Soo;Kim, Young Hwue;Ko, Tae Sung;Kim, Jae Moon
    • Clinical and Experimental Pediatrics
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    • v.46 no.12
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    • pp.1274-1278
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    • 2003
  • Syncope in children and adolescents have a common occurrence according for up to 15% before adulthood. Micturition syncope, a kind of situational syncope, can be considered a form of reflex syncope. It can typically occur in healthy young men after rising from bed in the early morning who experience sudden loss of consciousness during or immediately after urination. The mechanism of micturition syncope is not completely understood, but it has been suggested that vasovagal reflex mediated bradycardia and peripheral vasodilation and decreased venous return due to Valsalva effect and standing position lead to the decrease in cerebral blood flow resulting in syncope. The causes of syncope are variable. So complete history taking, physical examination, electrocardiography, exercise stress test, echocardiography, head-up tilt table test, electroencephalography(EEG), brain magnetic resonance image and urodynamic study should be required for the diagnosis of micturition syncope. There were several reports about micturition syncope. However, literature of micturition syncope at the pediatric age has rarely been reported in Korea so far. Therefore, we report a case of a 9-year-old boy with micturition syncope with typical EEG findings of high amplitude delta wave and flattening during syncope.

The Characteristics of Science Teachers Participating in the Student Science Inquiry Olympic (학생과학탐구 올림픽 행사를 통해 본 혁신 지향 교사의 특징)

  • Myeong, Jeon-Ok;Soh, Jong-Ah;Pak, Sung-Jae
    • Journal of The Korean Association For Science Education
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    • v.18 no.2
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    • pp.137-148
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    • 1998
  • This study compared the innovative characteristics of science teachers who participated in the First Student Science Inquiry Olympic and those of science teachers who did not participate in the event. The subjects were science teachers in three groups: (1) the active participants in the Inquiry Olympic who supervised the students contestants, (2) the observers of the Inquiry Olympic who came to see the event, and (3) the ordinary teachers who did not come to the Inquiry Olympic and were sampled through stratified cluster sampling. The study instrument was a questionnaire; all the subjects received the survey questionnaire by mail. The return rate was 45%. In general, the Inquiry Olympic participants(both the student supervisors and the observers) demonstrated different characteristics from the nonparticipants in four categories. Firstly, the Inquiry Olympic participants showed higher level of self actualization, for example, interest in science education, higher inner motivation, stronger desire to innovate than did the nonparticipants. Secondly, the participants demonstrated more involvement in professional activities and greater degree of upward social mobility than the nonparticipants. Thirdly, the participants had communication behaviors different from nonparticipants, e. g.. greater leadership of public opinions, more experience of contact with the change agent, greater tendency to regard their school society as modern. Lastly, the participants had higher social status than the nonparticipants. Implications and suggestions are made for the utilization of the innovation-oriented science teachers to implement of innovations in the future.

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A Study on Narrative in Louise Bourgeois' "You Better Grow Up" (루이즈 부르주아의 작품 의 내러티브 분석)

  • Oh, Sang-Il
    • Journal of Science of Art and Design
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    • v.9
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    • pp.49-87
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    • 2006
  • Narrative has broad domains. So it is related to the everything man faces in his daily life and also performed in various modes. Narrative is revealed through all media including a character, which is also applied to plastic art. And narrative objects formed beyond the differences in media aid forms of expression are commonly based on a language. The study on such objects which created a new conceit of narratology can be said to be a spiritual trend by which to understand the world and man from the viewpoint of a 'story'. Plastic art took high interest in narrative in the same period as the rise of postmodernist art in the latter half of the 20th century, which was also applied to sculpture. The researcher, therefore, investigated through the history of sculpture in the 20th century the process in which narrative was denied under the value system of modernism and reappeared with the quickening of postmodernism. And as a result this period could be briefly characterized by 'return to figure' and 'reappearance of narrative'. The is, such flow means that late sculpture converted its center of interest from simple geometric abstract forms to irregular, figurative images. The researcher chose as the subject of his study the work of Louise Bourgeois, who was judged to have performed narrative positively and successfully among a great number of performed narrative positively and successfully among a great number of postmodernist sculptors who adopted it as their own strategy of expression. As the central artist of postmodrnist sculpture, She expressed human desire and condition as sexuality through the introspection of her own personal experience in contrast to the character of pop art sensitive to external world. The researcher borrowed narrative semiotics as a method of analyzing more elaborately the problem about the generation of narrative shown in her works. For it, he selected as the sample work for analysis Bourgeois's , which were judged to contain narrative most abundantly and as the metaphor of a gaze and recollection presented a new woman self that sublimed love, hatred, and loneliness. The narrative in her works are characterized by introspection questioning one's own trauma. It has independent domain and characteristics and clearly reveals narrative and content-centered characteristics, which are commonly discovered in postmodernist sculpture. The researcher could more concretely and definitely understand the characteristics of narrative through figurative images by analyzing the sample work. The researcher wanted to call your attention to the fact that the sculpture in the late 20th century contained narrative commonly and uniformly despite being characterized by various expressions and modes. And the focused on highlighting the fact that the narrative was more effectively revealed through figurative images of human body and simultaneously analyzing the formalizing process and structure for narrative. Besides he wanted to argue that the position of narrative defining the characteristics of sculpture should be valued more justly. Also, such acceptance of narrative, which is discovered in the sculpture, will have to be understood as the characteristics of the period reflecting the cultural aspect of the present time.

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A Study on the Sale Conditions of the Current Brassiere Products - Focusing on the Sale of Brassiere for the Elderly Women - (시판(市販) 브래지어 판매실태(販賣實態) 연구(硏究) -老年女性用(노년여성용) 브래지어 판매(販賣)를 중심(中心)으로-)

  • Park, Eun-Mee;Kim, Young-Sook;Sohn, Hee-Soon
    • Journal of Fashion Business
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    • v.1 no.3
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    • pp.60-70
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    • 1997
  • The purpose of this study is to survey the sales of brassieres positively those of elderly women's (aged 50 or older) ones in particular through 72 sales outlets and thereby, in order to present the more comfortable brassiere models which can serve to reinstate elderly women's constitution and provide the useful basic data to brassiere makers and distributors for their business. The results of this survey and the suggestions therefrom can be summarized as follows; 1) Brassieres usually sell at 10,000-20,000 wons, which allows for 15% or more margin rate. Brassieres are disposed through bargain sales once or twice every year where their price are discount 10% or higher. Meanwhile, the majority of the brassieres distributors maintain more than 15% stock rate. The accumulated stocks are primarily disposed through return to makers or bargain sales. About 15% of the brassieres sold are returned by consumers to distributors to be replaced. 2) About a half of distributors operate some or other types of sales education programs. Most of these distributors feel that their educational program have been effective which suggests the effectiveness of sales educational program. On the other hand, 83.3% of the distributors operate in-house repair shops, while the absolute majority of them brief their customers on how to wear brassieres or clean them. 3) Because elderly women's understanding of brassieres sizes is very poor, they tend to ask help of the 'sales people about their sizes before purchasing and proper one personally. In other words, it has been disclosed that old women respond positively to seller's recommendation for their brassiere sizes. 4) It has been found that the brasseries sizes purchased by old women most are. 85A, 90A and 85B in their order, which suggests that the most popular size for under bust circumference is 85~90cm, while their primary cup size is "A". 5) The type of brasseries favored most by elderly women is the "full-cup" type, while their most favorite brassiere design is a soft and simple one. The colors preferred most by them are white, beige and pink in their order. 6) When being consulted by elderly women, sales people experience various difficulties due to their poor understanding of sizes and complaint about prices. Lastly, it has been found through this survey that elderly women want to see some sales promotion material featuring their brassiere sizes and their production arid ask the brasseries makers to produce more diverse brasseries sizes.

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A Phenomenological Study on the Meaning of Economic Life of Marriage Immigrant Women (결혼이주여성의 경제생활 의미에 관한 현상학적 연구)

  • Lee, Hyoung-Ha
    • Journal of the Korea Society of Computer and Information
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    • v.18 no.12
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    • pp.149-157
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    • 2013
  • The purpose of this study is to listen to vivid story on economic life of marriage immigrant women using phenomenological study out of qualitative study methods, and to analyze the meaning of dynamicity of experiences through in-depth interviews. The research question is "What is the meaning of economic life that marriage immigrant women experience?" From the research, 67 meaningful statements were abstracted and 15 core meanings were organized. The 15 core meanings were categorized as 5 theme categories such as 'Tough Life', 'Unstable Income such as Children Education Expense and Insurance Premium', 'Search for Changes in Life Style for Adaptation', 'Pursuit of Economic Stability through Employment', 'Expectation of Supports and Return to Married Woman's Parents' Home.' The researcher made structural description through first person speaker for the application of hermeneutical writing. In other words, the meaning of economic life of marriage immigrant women in Korea is 'difficult coping process to family-oriented culture pursuing changes in life style to adapt themselves to difficult reality.' Various undertones of practice were proposed through those statements such as policy to expand opportunities to receive an old-age pension by applying 'Joint Scheme for Couples' (Virtual Name) to People's pension for stable economic life of marriage immigrant women in old age.

The Effect of Information Quality and Self-efficacy on Car-sharing Usage Intention (정보품질과 자기효능감이 카셰어링 재이용의도에 미치는 영향)

  • Liu, Bo;Byun, Sookeun
    • Journal of Service Research and Studies
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    • v.13 no.3
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    • pp.20-38
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    • 2023
  • Recently, car sharing has shown the most remarkable growth among sharing economy services. In the process of analyzing the intention to reuse the car sharing service, this study tried to reflect the unique characteristics of the service, which consists of non-face-to-face self-service, such as reservation, approval, handover, inspection, and return of the vehicle. Specifically, in addition to the perceived benefits and the perceived risks, we considered 'information quality' as a platform characteristic and 'self-efficacy' as a personal characteristic. To collect data, an online survey was conducted on adults with experience in car sharing, and a total of 320 responses were used for analysis. As a result of analyzing the structural equation model, it was found that information quality and self-efficacy increased the perceived benefits of services, and the higher the information quality, the higher the self-efficacy. On the other hand, the role of information quality and self-efficacy in lowering perceived risks was insignificant, and the intention to reuse services was more affected by perceived benefits than perceived risks. As a result of further analysis using Process Macro, it was found that the effect of self-efficacy on reuse intention was mediated by perceived benefits. It was analyzed that the indirect effects of information quality on reuse intention through perceived benefits or self-efficacy were all significant. These results suggest that providing timely, sufficient, and easy-to-understand information required by users on the platform improves self-efficacy and increases service reuse intention. In order to increase the number of service users, it is important for service providers not only to provide promotional activities such as offering attractive prices, but also to provide high-quality information so that users can use it more easily.

An Analysis of Economic Evaluation and Spread Effects on the Establishment of Public Sports Facilities (공공스포츠시설 건립의 경제성 평가 및 파급효과 분석)

  • Kim, Jin-Kook;Jang, Won-Yong;Choi, Kyoung-Ho
    • Journal of Korea Entertainment Industry Association
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    • v.13 no.1
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    • pp.111-119
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    • 2019
  • The purpose of study was to evaluate the economic evaluation of Chuncheon curling stadium. In oder to estimate economic evaluation, benefit/cost ratio, net present value and internal rate of return were used. Additionally, in order to investigate the socio-economic spread effect, literature review and input-output analysis were used. The results of study were as follows. First, as a result of analyzing the demand for curling stadiums in Chuncheon, it was believed that the construction of the stadium will attract athletes from the Chuncheon region as well as athletes from Seoul, Incheon, Gyeonggi Province and North Chungcheong Province. Second, economic validity analysis showed that the initial investment did not make sense, but the players' training and competitions and the advantages of the potential experience of curling events for citizens in nearby areas, including Chuncheon, make the construction and operation reasonable. Third, as a result of the review of the social and policy validity of the curling stadium, the project to build a curling stadium in Chuncheon was secured with a policy validity as a public sports facility necessary for both professional and living athletes. Finally, the analysis of socio-economic spread effect of curling stadiums had shown that it would have a positive effect on the level of satisfaction of the general public as well as the discovery of elite athletes.