• Management & Information Systems Review
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• v.29 no.2
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• pp.1-25
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• 2010

This study attempted to empirically test the determinants of stock returns in Korean stock market applying multi-factor model proposed by Haugen and Baker(1996). Regression models were developed using 16 variables related to liquidity, risk, historical price, price level, and profitability as independent variables and 690 stock monthly returns as dependent variable. For the statistical analysis, the data were collected from the Kis Value database and the tests of forecasting power in this study minimized various possible bias discussed in the literature as possible. The statistical results indicated that: 1) Liquidity, one-month excess return, three-month excess return, PER, ROE, and volatility of total return affect stock returns simultaneously. 2) Liquidity, one-month excess return, three-month excess return, six-month excess return, PSR, PBR, ROE, and EPS have an antecedent influence on stock returns. Meanwhile, realized returns of decile portfolios increase in proportion to predicted returns. This results supported previous study by Haugen and Baker(1996) and indicated that firm-characteristic model can better predict stock returns than CAPM. 3) The firm-characteristic model has better predictive power than Fama-French three-factor model, which indicates that a portfolio constructed based on this model can achieve excess return. This study found that expected return factor models are accurate, which is consistent with other countries' results. There exists a surprising degree of commonality in the factors that are most important in determining the expected returns among different stocks.

• Management & Information Systems Review
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• v.33 no.5
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• pp.97-115
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• 2014

The purpose of this study is to illustrating how the store selection factors affect the customer's satisfaction about the store and the intention of revisit base on the analyzing the store selection factors. At the same time, the difference between the influence on the customer's satisfaction and revisit intention of that in Korea and in China is also compared. Accordingly, through the notional understanding of configuration variables and the investigation of previous research, the Research hypothesis was set and the relevance between the two was inspected. The survey was aimed at the Korean customers who visit the large supermarkets in Korea and Chinese customers who visit the large supermarkets in China. After that, the reliability and validity of the collected data was verified and the research hypothesis was validated by structure equation modeling. The result of this study can by concluded as follows: First, in Korea the customer's satisfaction is showed to be affected by store selection factors, product property, service property and physical environment. Second, in China the customer's satisfaction is showed to be affected by store selection factors, product property, service property and physical environment. Third, in Korea the revisit intention is showed to be affected by customer's satisfaction. Forth, in China the revisit intention is showed to be affected by customer's satisfaction. Fifth, it shows little difference between the store selection factors of the customers visiting large supermarkets in Korea and in China. According to the research results above, the implications can be drawn as the customer's satisfaction of those who visit the large supermarkets may be affected by store selection factors (store property, product property, service property and physical environment). In recent years, more and more overseas large supermarkets are opening in both Korea and China and the competition among each is become more intense day by day. Every larger supermarket is trying their best to refine their store property, product property, service property and physical environment, in order to enhance the customer's satisfaction. The biggest factor that affects the customer's satisfaction and revisit intention in Korea is service property, So that the services requires proper measures and improvement. In China, the factor that affects most on the customer's satisfaction and revisit intention is physical environment. In order to enhance the customer's positive consciousness of stores, the physical environment needs to be well constructed. Lastly, in the compared research between Korea and China, the distribution of survey responders was limited from certain areas. Therefore, the further study can be implemented by more research in various geographical areas and more development in store selection factors.

• Management & Information Systems Review
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• v.37 no.1
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• pp.103-122
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• 2018

This paper expands the results of previous studies indicating that manager's ability positively affects business performance to analyze whether the degree to which the role of manager's ability improves business performance appears differently according to the characteristics of enterprises. As for the characteristics of enterprises, whether enterprises correspond to enterprises with high levels of funding constraints or late movers in the market is considered. Enterprises with high levels of funding constraints greatly require managers' roles not only for efficient use of funds but also for smooth financing. Late movers require more judgments of professional managers to overcome insufficient resources held and low profitability. In the case of enterprises with corporate characteristics with high dependency on the manager, the business performance is expected to greatly vary with the ability of the manager. The empirical analysis was conducted with listed companies from 2010 to 2014, manager's ability was measured by first measuring the efficiency of the entire enterprise through data envelopment analysis (DEA) using the methodology of Demerjian et al.(2012) and removing enterprise characteristics factors thereafter. Business performance was measured by the return on industrial fixed assets. The results of the empirical analysis indicated that the degree to which manager's ability improves business performance was higher in managerial competence enhances managerial performance in enterprises with high levels of funding constraints and late movers. Business performance is considered to have been improved further in cases where manager's ability is high because investments were made more efficiently through smooth funding. In addition, in the case of late movers in relatively poor environments, business performance was improved further because high manager's ability induced efficient decision making. In this paper, we extend the precedent study that the manager's ability improves the management performance, and confirm that the manager's ability to improve the managerial performance can be different according to the situation of the company. In addition, it is meaningful to analyze empirically whether a company's managerial ability is more important. This paper expanded the results of previous studies indicating that manager's ability improves performance to identify that the degree to which manager's ability improves business performance may appear differently according to situations in which enterprises are placed. In addition, this paper is meaningful in that it empirically analyzed what enterprises require manager's ability more importantly.

• Journal of Chest Surgery
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• v.35 no.9
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• pp.653-658
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• 2002

The cause and clinical course of the postoperative ARDS is, as of yet, not very well understood. The current study is a review of our experience on patients with ARDS after thoracotomy. Material and Method: Between Jan. 1996 to Aug. 2001, a retrospective analysis was conducted on 32 post-thoracotomy ARDS patients among 4018 patients receiving thoracotomy inclusive of thoracoscopic surgery. Result: The incidence of ARDS after pneumonectomy cases was 5.3%(13/245), 1.3% after lobectomy(9/ 710), and 4.4% after esophageal surgery(10/226). Of the 32 ARDS patients, 31 had malignant disease. The remaining 1 patient had aspergillosis. In the majority, the cause of ARDS was unknown. The average onset was on the 7.4th postoperative day. In 10 cases, the initial lesion was in the right lower lung field(31.2%), in the left lower lung field in 9(28.1%), and in both lower lung fields in 12(37.5%) cases. In all, the initial lesion was in the lower lung fields in 96.9% of the cases(31/32). There was a significant relationship between the development of ARDS and intraoperative I/O balance. The overall mortality rate was 65.6%(21/32). In the earlier period of the study(1996-Jun, 1998) the mortality rate was 100%, but in the latter period(July, 1998-Aug, 2001) it was significantly reduced to 47.6%: Conclusion: The current data showed a higher incidence of postoperative ARDS in patients with malignant disease and in those receiving extensive lymph node dissection with either lobectomy or pneumonectomy, and also in patients receiving esophageal surgery. In addition, introperative fluid overload was also associated with an increased incidence of ARDS. Treatment outcome could be improved with prone positioning and NO gas inhalation.

• Journal of Home Health Care Nursing
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• v.4
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• pp.5-22
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• 1997

The purpose of the study was to development an information delivery system for the home nursing service, to demonstrate and to evaluate the efficiency of it. The period of research conduct was from September 1996 to August 31, 1997. At the 1st stage to achieve the purpose, Firstly Assessment tool for the patients with cerebral vascular disease who have the first priority of HNS among the patients with various health problems at home was developed through literature review. Secondly, after identification of patient nursing problem by the home care nurse with the assessment tool, the patient's classification system developed by Park (1988) that was 128 nursing activities under 6 categories was used to identify the home care nurse's activities of the patient with CAV at home. The research team had several workshops with 5 clinical nurse experts to refine it. At last 110 nursing activities under 11 categories for the patients with CVA were derived. At the second stage, algorithms were developed to connect 110 nursing activities with the patient nursing problems identified by assessment tool. The computerizing process of the algorithms is as follows: These algorithms are realized with the computer program by use of the software engineering technique. The development is made by the prototyping method, which is the requirement analysis of the software specifications. The basic features of the usability, compatibility, adaptability and maintainability are taken into consideration. Particular emphasis is given to the efficient construction of the database. To enhance the database efficiency and to establish the structural cohesion, the data field is categorized with the weight of relevance to the particular disease. This approach permits the easy adaptability when numerous diseases are applied in the future. In paralleled with this, the expandability and maintainability is stressed through out the program development, which leads to the modular concept. However since the disease to be applied is increased in number as the project progress and since they are interrelated and coupled each other, the expand ability as well as maintainability should be considered with a big priority. Furthermore, since the system is to be synthesized with other medical systems in the future, these properties are very important. The prototype developed in this project is to be evaluated through the stage of system testing. There are various evaluation metrics such as cohesion, coupling and adaptability so on. But unfortunately, direct measurement of these metrics are very difficult, and accordingly, analytical and quantitative evaluations are almost impossible. Therefore, instead of the analytical evaluation, the experimental evaluation is to be applied through the test run by various users. This system testing will provide the viewpoint analysis of the user's level, and the detail and additional requirement specifications arising from user's real situation will be feedback into the system modeling. Also. the degree of freedom of the input and output will be improved, and the hardware limitation will be investigated. Upon the refining, the prototype system will be used as a design template. and will be used to develop the more extensive system. In detail. the relevant modules will be developed for the various diseases, and the module will be integrated by the macroscopic design process focusing on the inter modularity, generality of the database. and compatibility with other systems. The Home care Evaluation System is comprised of three main modules of : (1) General information on a patient, (2) General health status of a patient, and (3) Cerebrovascular disease patient. The general health status module has five sub modules of physical measurement, vitality, nursing, pharmaceutical description and emotional/cognition ability. The CVA patient module is divided into ten sub modules such as subjective sense, consciousness, memory and language pattern so on. The typical sub modules are described in appendix 3.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.15-24
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• 2018

Despite the recognition of the need for productivity information and its importance, the feedback of productivity information is not well-established in the construction industry. Effective use of productivity information is required to improve the reliability of construction planning. However, in many cases, on-site productivity information is hardly management effectively, but rather it relies on the experience and/or intuition of project participants. Based on the literature review and expert interviews, the authors recognized that one of the possible solutions is to develop a systematic approach in dealing with productivity information of the construction job-sites. It is required that the new system should not be burdensome to users, purpose-oriented information management, easy-to follow information structure, real-time information feedback, and productivity-related factor recognition. Based on the preliminary investigations, this study proposed a framework for a novel system that facilitate the effective management of construction productivity information. This system has utilized Sketchup software which has good user accessibility by minimizing additional data input and related workload. The proposed system has been designed to input, process, and output the pertinent information through a four-stage process: preparation, input, processing, and output. The inputted construction information is classified into Task Breakdown Structure (TBS) and Material Breakdown Structure (MBS), which are constructed by referring to the contents of the standard specification of building construction, and converted into productivity information. In addition, the converted information is also graphically visualized on the screen, allowing the users to use the productivity information from the job-site. The productivity information management system proposed in this study has been pilot-tested in terms of practical applicability and information availability in the real construction project. Very positive results have been obtained from the usability and the applicability of the system and benefits are expected from the validity test of the system. If the proposed system is used in the planning stage in the construction, the productivity information and the continuous information is accumulated, the expected effectiveness of this study would be conceivably further enhanced.

• Journal of Global Scholars of Marketing Science
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• v.19 no.2
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• pp.27-39
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• 2009

Compulsive consumption is regarded as a global phenomenon that can adversely affect consumer well-being. Although the topic has been studied in different cultural settings, we have seen relatively little theory development and explanations of compulsive behavior Nearly all previous empirical studies attempt to explain this behavior by correlating measures of compulsive behavior with independent variables taken within the same time frame. However, recent developments in social sciences suggest that such a phenomenon may best understood in the context of the person's earlier-in-life experiences. Using the life course paradigm as an overarching framework, the present research extends previous work on this topic. Following hypotheses were drawn from literature review: H1: The earlier in childhood and adolescence a person experiences family dislocation, the greater his or her likelihood of exhibiting compulsive behaviors in adulthood. H2: The earlier in life the young person experienced family dislocation, the greater the number of family disruption events the young person experienced prior entering adulthood years. H3: Family dislocation leads to (a) increased frequency of socio.oriented family communications and (b) decreased frequency of concept-oriented family communication. H4: Young adults who were raised in families characterized by a strong socio-oriented communication structure are more likely to exhibit compulsive consumption tendencies than those who were raised in families characterized by a weak socio-oriented family communication structure. H5: Young adults who were raised in families characterized by a strong concept-oriented communication structure are less likely to exhibit compulsive consumption tendencies than those who were raised in families characterized by a week concept-oriented family communication structure. H6: The relationship between family disruption events experienced during adolescence and perceived stressfulness of these events is moderated by (a) global family support, (b) emotional family support, and (c) material family support. Those reporting higher levels of family support as teenagers are less likely to report experiencing stress due to family disruption events. H7: Perceived stressfulness of family disruption events experienced during adolescent years are associated with compulsive consumption tendencies in early adulthood. H8: The greater the number of family disruption events young adults experienced during their adolescent years the more frequent was their communication about consumption with their peers. H9: The more frequent was the young persons' communication with their peers about consumption during their adolescent years, the more likely they are to report compulsive buying tendencies as young adults. We use a sample of 120 Thai undergraduate students attending classes taught in English as part of a four-year international program. Product-moment correlations, hierarchical regression analysis and partial correlation were used to analyze data. Results of testing hypotheses showed that hypothesis 2, 4, 7 and 9 were supported and hypothesis 1, 3, 5, 6 and 8 were not supported. Our study did not find a significant relationship between the age when a person experienced family dislocation and their compulsive behavior tendencies expressed as young adults. We did not find a significant relationship between family dislocation and family communication structures. But we found a significant positive relationship between socio-oriented communication structure and compulsive buying and a significant relationship between our peer communication and compulsive buying measures. Also we found perceived stressfulness due to the disruptive events to have a significant positive relationship between the perceived stressfulness and compulsive buying. Implications from these findings, limitations of this research and future research suggestions were discussed.

• Journal of Global Scholars of Marketing Science
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• v.19 no.2
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• pp.5-16
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• 2009

Against the backdrop of the increasing trend towards economic globalisation, many international firms are indicating that decisions on how to enter foreign markets remains one of the key strategic challenges confronting them. Despite the rich body of literature on the topic, the fact that these challenges have continued to dominate global marketing strategy discourses point to someevident lacunae. Accordingly, this paper considers the variables, categorised in terms of firm contexts (standardisation, market research, competition, structure, competitive advantage) and host country-contexts (economic development, cultural differences, regulation and political risk), which influence the degree of involvement of UK companies in overseas markets. Following hypotheses were drawn from literature review: H1: The greater the level of competition, the higher the degree of involvement in the overseas market. H2: The more centralised the firm's organisation structure, the higher the degree of involvement in the overseas market. H3a: The adoption of a low cost-approach to competitive advantage will lead to a higher degree of involvement. H3b: The adoption of an innovation-approach to competitive advantage will lead to a higher degree of involvement. H3c: The adoption of a market research approach to competitive advantages will lead to a higher degree of involvement. H3d: The adoption of a breadth of strategic target-approach to competitive advantage will lead to a lower degree of involvement. H4: The higher the degree of standardisation of the international marketing mix the higher the degree of involvement. H5: The greater the degree of economic development in the host market, the higher the degree of involvement. H6: The greater the cultural differences between home and host countries, the lower the degree of involvement. H7: The greater the difference in regulations between the home country and the host country, the lower the degree of involvement. H8: The higher the political risk in the host country, the lower the degree of involvement. A questionnaire instrument was constructed using, wherever possible, validated measures of the concepts to serve the aims of this study. Following two sets of mailings, 112 usable completed questionnaires were returned. Correlation analysis and multiple regression analysis were used to analyze data. Statistically, the paper suggests that factors relating to the level of competition, competitive advantages and economic development are strong in influencing foreign market involvements. On the other hand, unexpectedly, cultural factors (especially individualism/collectivism and low and high power distance dimensions) proved to have weak moderating effects. The reason for this, in part, is due to the pervading forces of globalisation and the attendant effect on global marketing. This paper has contributed to the general literature in a way that point to two mainimplications. First, with respect to research on national systems, the study may hold out some important lessons especially for developing nations. Most of these nations are known to be actively seeking to understand what it takes to attract foreign direct investment, expand domestic market and move their economies from the margin to the mainstream global economy. Second, it should be realised that competitive conditions remain in constant flux (even in mature industries and mature economies). This implies that a range of home country factors may be as important as host country factors in explaining firms' strategic moves and the degree of foreign market involvement. Further research can consider the impact of the home country environment on foreign market involvement decisions. Such an investigation will potentially provide further perspectives not only on the influence of national origin but also how home country effects are confounded with industry effects.

• Journal of the Korean Institute of Landscape Architecture
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• v.39 no.6
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• pp.86-97
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• 2011

This study analyzed the necessity of the tentatively-named "Framework Act on Landscape Architecture" as an umbrella law in the field of landscape architecture regarding legal, industrial, and academic aspects and is intended to provide basic data to suggest the optimal legal system and legislative proceedings to control it. This study can be summarized as follows: First, a form of framework act on landscape architecture is appropriate for a compromise between ideal type and political framework. Some content is suitable for proclamatory character including present and future issue related to the landscape architecture fields. Second, legislative proceedings are more reasonable as motions coming from assembly proposals rather than government. Motions by assembly proposal recommend the following procedure: submission of a legislative bill by an assemblyperson, passing of a permanent commission, review by government, leading approval by emphasis on correspondence with the principle to carry out government affairs, proclamation. Third, a frame based on content and form can be made up of a total of 7 chapters 34 articles. The function must include the following: the suggestion of direction for government policy, the systematization of the institution and what it includes, the control of government administration, a public service system regarding public relations for landscape architecture and so on. The results of this study will form a social consensus about the necessity of a framework act regarding landscape architecture fields and contribute to informing the importance of landscape architecture as related to other industrial fields.

• Advances in pediatric surgery
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• v.7 no.2
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• pp.147-156
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• 2001

Membership qualifications and recognition of the subspecialty training programs by the Korean Association of Pediatric Surgeons(KAPS) have been determined by criteria based on the number of neonatal and total pediatric surgical cases registered, since 1989 (Index cases). The numbers are based on a survey of the 14 founding members of the society by Jung et al. in 1987. The current survey is to review the present status of the index cases from 1997 to 1999 among 36 members of the KAPS. Two surveys were undertaken for this study. In the first survey, cases were collected by the registration form, composed of neonatal(N), important pediatric surgical cases (I), tumor and other similar operations(T) and other common pediatric surgical cases(O). Thirty members responded. and the result was discussed at the Topic Discussion section of the 15th Annual Congress of KAPS, 2000. The second survey analyzed additive data, proposed during discussion at the Congress. Twenty-three members responded. This report is the analysis of the both surveys. The average numbers of the cases/year/surgeon of N, I, T, O and total were 19.5, 51.8, 9.5, 77.1 and 356.5. respectively. The number of index cases(N+I+T)/year/surgeon was 80.8. The ratio of (N+I+T)/total cases was 0.3. Seventeen of 30 members have more than 20 cases of N per year. Twelve members have more than 150 cases, and 13 do more than 100 cases of I per year. Fourteen members have more than 10 cases of T per year. Nineteen and 10 members experienced more than 150 and 100 of index cases(N+I+T) per year. A new list of the index cases and coding system are proposed for the future regular update.