• Journal of agricultural medicine and community health
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• v.49 no.3
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• pp.235-256
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• 2024

Background: The adequate provision of medical care relies on the availability of a suitable number of healthcare professionals. To ensure stability in healthcare delivery, it is crucial for a country to accurately estimate and address the supply of doctors. This study aims to contribute to the formulation of effective policies for securing and distributing doctor manpower, with a focus on medically underserved areas at both the national and local government levels. Methods: Employing the system dynamics methodology, this research utilizes stock and flow diagrams, including level and rate diagrams, to quantitatively analyze the cumulative structure of the doctor supply and demand system. Results: The analysis reveals a substantial shortage of clinical doctors in Gyeongsangnam-do, amounting to 15,477 as of 2021. Projections indicate a need for an additional 7,570 doctors by the year 2050 to maintain the current healthcare service level. Examination of medical treatment rights and distribution across cities and counties indicates an insufficiency in doctor supply relative to demand in the majority of regions. Alternative scenarios, such as increasing medical school enrollments and adjusting retirement ages, were explored, yet none provided a sufficient resolution to the shortage. Conclusion: The findings underscore an impending exacerbation of the doctor shortage in Gyeongsangnam-do if the existing system is perpetuated. Addressing this issue necessitates not only augmenting the number of medical school students and adapting retirement age policies but also implementing diverse strategies employed successfully in other countries. This study serves as a foundational step in informing evidence-based policies aimed at securing an ample and appropriately distributed doctor workforce for sustainable healthcare delivery.

• Journal of the Korean Association of Geographic Information Studies
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• v.17 no.4
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• pp.69-85
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• 2014

Carbon stocks of NFI plots can be accurately estimated using field survey information. However, an accurate estimation of carbon stocks in other unsurveyed sites is very difficult. In order to fill this gap, various spatial information can be used as an ancillary data. In South Korea, there is the 1:5,000 forest type map that was produced by digital air-photo interpretation and field survey. Because this map contains very detailed forest information, it can be used as the high-quality spatial data for estimating carbon stocks. In this study, we compared three upscaling methods based on the 1:5,000 forest type map and 5th national forest inventory data. Map algebra(method 1), RK(Regression Kriging)(method 2), and GWR(Geographically Weighted Regression)(method 3) were applied to estimate forest carbon stock in Chungcheong-nam Do and Daejeon metropolitan city. The range of carbon stocks from method 2(1.39~138.80 tonC/ha) and method 3(1.28~149.98 tonC/ha) were more similar to that of previous method(1.56~156.40 tonC/ha) than that of method 1(0.00~93.37 tonC/ha). This result shows that RK and GWR considering spatial autocorrelation can show spatial heterogeneity of carbon stocks. We carried out paired t-test for carbon stock data using 186 sample points to assess estimation accuracy. As a result, the average carbon stocks of method 2 and field survey method were not significantly different at p=0.05 using paired t-test. And the result of method 2 showed the lowest RMSE. Therefore regression kriging method is useful to consider spatial variations of carbon stocks distribution in rugged terrain and complex forest stand.

• Management & Information Systems Review
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• v.30 no.2
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• pp.257-275
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• 2011

The price relationship between the futures market and the underlying spot market has attracted the attention of academics, practitioners, and regulators due to their roles during periods of turbulence in financial markets. The purpose of this paper is to investigate the dynamic of price relationship(or lead-lag relationship) between Korean Treasury Bond futures market and spot market. To examine the nature of the price relationship, descriptive statistics, serial correlation, and cross-correlation are used as a preliminary statistics in the Korean Treasury Bond spot and futures market. Next, following Stoll-Whaley(1990) and Chan(1992), the multiple regression method is used to examine the lead-lag patterns between the two markets. The empirical results are summarized as follows. The mean returns of spot markets and future markets are positive(+) and negative(-) respectively and the standard deviation of both stock and futures returns increase through the sub-periods. For the most periods, there is negative skewness in the both markets. The zero excess kurtosis due to the heavy tails of the distribution are relatively large. The autocorrelations in the spot returns for the sample periods are positive in time lag 1, but the autocorrelations in the future returns shows no significant evidence. The results of the daily cross-correlations between the KTB spot and futures returns indicate that a lead-lag relationship don't exist for price changes of futures and spot markets as a preliminary analysis. Finally, empirical results of regression analysis for both market indicate that there is no evidence that the KTB futures lead the KTB spot market, or the KTB spot market lead the KTB futures market. These results are robust for all sub-periods.

• 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.

• Journal of Distribution Science
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• v.13 no.9
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• pp.47-57
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• 2015

Purpose - The aim of this paper is to investigate the explanatory power of the Pecking-order theory (the cost of financing increases with asymmetric information) among Korean retail firms from the perspective of debt capacity. According to the Pecking-order theory, a firm's first preference is to use internal funds for its capital needs, its next preference is the issuance of debt, and its last preference is the issuance of equity; this is due to the information asymmetry problem between existing shareholders and investors. However, prior empirical studies, such as Lemmon and Zender (2010), argue that the entire sample test for the Pecking-order theory could be misleading due to the different levels of debt issuance capability of each of the individual firms; in fact, they confirm that the explanatory power of the Pecking-order theory improves after taking into account the differences in debt capacity of the U.S. firms they examined. This paper implements a case study approach among Korean retail firms to examine the relationship between debt capacity and the explanatory power of the Pecking-order theory in Korea. Research design, data, and methodology - This study uses the sample of public retail firms on the Korea Composite Stock Price Index (KOSPI) from the time period of 1990 to 2013. We gather related financial and accounting statements from the financial information firm WISEfn. Credit rating information is provided by the Korea Investor Service. We employ the models of Lemmon and Zender (2010) and Son and Kim (2013) to measure a firm's debt capacity. Their logit models use the rating dummy variable as a dependent variable and incorporate other firm characteristics as independent variables to estimate debt capacity. To test the Pecking-order theory, we adopt variants of the financing deficit model of Shyam-Sunder and Myers (1999). In the test of the Pecking-order theory, we consider all of the changes in total debt obligations, current debt obligations, and long-term debt obligations. Results - Our main contribution to the literature is our confirmation of the predicted relationship between debt capacity and the explanatory power of the Pecking-order theory among Korean retail firms. The coefficients on financing deficits become greater as a firm's debt capacity improves. This is consistent with the results of Lemmon and Zender (2010). The coefficients on the square of the financing deficits are also negative for the firms in the largest debt capacity group, which is also consistent with the predictions in prior literature. Conclusions - This study takes a case study approach by examining Korean retail firms. We confirm that the Pecking-order theory explains the capital structure of retail firms more appropriately, after taking into account the debt capacity of each firm. This result suggests the importance of debt capacity consideration in the testing of the Pecking-order theory. Our result also implies that there has been a potential underestimation of the explanatory power of the Pecking-order theory in existing studies.

• Journal of the Korean Society of Marine Environment & Safety
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• v.16 no.3
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• pp.259-268
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• 2010

Data on squid catches by the Korean jig fishery in sea blocks ($30'{\times}30'$), water temperatures at depth(30m, 50m and 100m) and zooplankton biomass in the East Sea from 1980 to 1999 were analyzed to examine the mechanism of formation of the high density stock area. Japanese common squid (Todarodes pacificus) catch in the East Sea was low in 1980s, while the catch was high in 1990s. The five sea blocks (No. 76, 82, 83, 87, 88) of the southern part in the eastern coastal waters of Korea showed high levels of percentage of total catch (35.1%), whereas the four sea blocks (No. 65, 71, 72, 78) of the coastal waters of Uleung Island showed high levels of percentage of CPUE (61.2%) for 20 years. Squid catches showed monthly fluctuations according to the vertical distribution of optimum water temperature for fishing ($14^{\circ}C{\sim}19^{\circ}C$). High total catch and high CPUE area matched well with $10^{\circ}C$ isothermal lines at 100m depth indicating northern limiting of Tsushima Warm Current, and temporal and spatial change in $10^{\circ}C$ isothermal line caused the change in total catch and CPUE. Horizontal distribution of zooplankton biomass by sea block was not matched well with those of total catch and CPUE, however pattern of time-series change in total zooplankton biomass was similar to that in total squid catch.

• Journal of Distribution Science
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• v.13 no.11
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• pp.47-58
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• 2015

Purpose - This study aims to seek determinants of department store sales commission rates under consignment contracts based on transaction cost theory, the power-dependence view, and the resource-based view. A consignment contract is a unique contract where the retailer, over a given period, takes possession of goods owned by a supplier, promotes the sales of these goods, and receives a profit share from their sales. Under this contract, the supplier owns the goods until they are sold. In department stores in South Korea, over 70% of overall sales comes through consignment contracts. In other words, this is the most popular contract agreement between large retailers and vendors in South Korea. Consignment contracts yield high profits to department stores with minimal sales uncertainty, stock cost, and marketing investment. Many suppliers believe the consignment contract commission rates are too high. However, department stores disagree. They state that the commissions are not high as they generate new value for the suppliers by accumulating up-to-date merchandise and supporting various marketing programs on their behalf. Recently, consignment contracts have been critically examined and scrutinized by politicians, mass media, and the public of Korea. This study further intends to derive implications reflecting both buyer and seller perspectives as well as offer insights to policy makers in making appropriate decisions. Research design, data, and methodology - To verify the proposed research model and test hypotheses, the authors selected 164 suppliers, which currently have relationships with department stores. This study carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed model. The data were analyzed using SPSS 18.0 and AMOS structural equation modeling program Results - For the transaction cost theory and the power-dependence view, the results indicated that product diversity and demand volatility had a positive impact on the sales dependence on a department store. Dependence in turn had a positive effect on the sales commission under the consignment contract. Based on the resource-based view, the department store's marketing capability, the supplier's perception toward merchandising, and supporting activities could enhance the department store's channel leadership in the buyer-seller relationship. Subsequently, the channel leadership had a positive effect on the sales commission. However, product complexity had no relationship with department store dependence. Conclusions - This is the first empirical research that investigates the determinants of sales commissions under consignment contracts in the domestic retail industry. This study reveals several theoretical and practical implications for both marketing scholars and marketers. In terms of theoretical implication, this study integrated and enlarged certain theoretical background, such as transaction cost theory, the power-dependence view, and the resource-based view, to explain the determinants of sales commissions under consignment contracts that include sales revenue. From a business management viewpoint, this research offers useful insights for policy makers by applying two different perspectives, both the manufacturer and the retailer, in terms of the sales commission issue under a consignment contract.

• Journal of Distribution Science
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• v.14 no.7
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• pp.71-81
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• 2016

Purpose - Because creativity, which is an intangible resource embedded within the company, can offer a competitive advantage, most companies have an interest in promoting creativity among their employees and division(e.g., marketing organization). Creativity renders a sustainable competitive advantage to a firm because it is a strategic resource that is valuable, flexible, rare, and imperfectly imitable or substitutable. Although most companies broadly recognize the importance of creativity, the methods for developing creativity remain elusive. Therefore, the present study investigates how to structure incentives to motivate employees to be more creative and how to develop tools to facilitate creativity. In detail, the present study aimed to examine the relationship between the regulatory focus of marketing organizations(e.g., promotion focus vs prevention focus) and creativity of marketing organizations. In addition, the present study set out to examine the moderating role of interaction of financial reward and creative training in addition to investigating the direct relationship between creativity and regulatory focus in New Product Development(NPD) context. Research design, data, and methodology - The data used to test the hypotheses are drawn from a survey of full time NPD project members(including project manager, designer, engineer, and marketer). The present study utilized data obtained mainly from a database compiled by the Korea Investors Service-Financial Analysis System which provides comprehensive corporate and financial information on firms listed on the Korea Stock Exchange. A study population comprising 1,000 South Korean firms was obtained from this database. We selected 864 firms from the database, and the firms have experiences of new product development project. We collected a total of 162 responses, for a 18.8% response rate. After we excluded 14 questionnaire because of incomplete responses, a total of 148 questionnaire remained(final response rate: 17.1%). Working with a sample of 148 responses in South Korea, hierarchical moderated regression is employed to test research hypotheses(

The relationship between promotion focus and creativity of marketing organization,

The relationship between prevention focus and creativity of marketing organization,

The moderating effect of joint influences(interaction between financial rewards and creativity training) on the relationship between promotion focus creativity of marketing organization,

The moderating effect of joint influences(interaction between financial rewards and creativity training) on the relationship between prevention focus creativity of marketing organization). SPSS 18.0 and AMOS software were used in the data analysis. Results - The empirical study confirmed that promotion focus of marketing organization is positively related to creativity of marketing organization. Also, prevention focus of marketing organization is positively affected to creativity of marketing organization. In addition, the interaction between financial rewards and creativity training moderated the relationship between regularity focus(e.g.), promotion focus vs prevention focus) and creativity of marketing organization. These results suggest that managers can improve the performances of their creative efforts by providing the use of financial rewards and creativity training in combination. Conclusion - Based on results of this study that examine the effects of regulatory focused creative efforts on creativity of marketing organization, promotion focus is helpful with marketing organizations to enhance their service innovation and performance. Prevention focused organization should allow monetary rewards and creativity training to increase their creativity for innovation of new products.

• Journal of Distribution Science
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• v.14 no.6
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• pp.75-80
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• 2016

Purpose - A growing demand for sustainability reporting has placed pressure on firms with non-financial information that affects firm valuation, growth, and development. In particular, a number of researchers have investigated various topics in Corporate Social Responsibility (CSR), non-financial information. Prior studies suggest that CSR may affect corporate outcomes like corporate reporting, financial performance, and disclosures. However, the results from prior studies are not clear whether CSR affects corporate outcomes. This is partially due to the measurement issues with CSR. In this study, we examine whether CSR affects the quality of corporate reporting, one of the popular measures in corporate outcomes. We find an evidence that CSR positively affects the quality of corporate reporting. Research design, data, and methodology - In this study, we collected a unique dataset of CSR from MSCI. Total 169 firms listed in the Korean Stock Exchange from 2011 to 2014 were collected and analysed with the detailed CSR reports. Using a correlation test, we found a weak association between CSR and the quality of corporate reporting. However, the regression tests provided a strong relationship between CSR and the quality of corporate reporting after controlling for other variables that may affect the quality of corporate reporting. Additionally, we calculated the t-statistics based on heteroskedaticity-consistent standard errors (White, 1980). Results - Before we run the regression test, we sort the measures of the two dependent variables into each rating of CSR (from AAA to CCC). The results indicate that the quality of corporate reporting measured by discretionary accruals and performance-matched discretionary accruals monotonically decrease as the CSR ratings increase. This supports our hypothesis. In the regression tests, the coefficient on MJDA (PMDA) is -0.183 (-0.173) and significant at the 5% level. We can interpret the results as CSR affecting the quality of corporate reporting in positive ways. Other coefficients on control variables are consistent with prior studies. For example, the coefficients on both LOSS and LEV are positive and significant at conventional level, meaning that firms with financial difficulty may harm their quality of corporate reporting. Conclusion - We found an evidence that CSR is positively associated with the quality of corporate reporting. This study contributes to the literature in various ways. First, this study extends the line of CSR research by providing additional evidence in the setting of ethical behaviors by managements. This is consistent with the hypothesis and supports the results of prior studies. Second, to the best of my knowledge, this is the first study using the MSCI CSR ratings. In contrast with prior studies using different measures of CSR, the MSCI CSR ratings allow us to provide in-depth analysis. Third, the additional measure of dependent variable (PMDA) allows us to improve the robustness of our results. Overall, the results provided this study to extend the findings in prior studies by providing incremental evidence.

• Proceedings of the Korea Society of Environmental Toocicology Conference
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• 2003.10a
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• pp.170-170
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• 2003

An initial study has been conducted with Korea Institute of Geoscience and Mineral resources and National Institute of Environment Research to evaluate the distribution of radon levels and their risk levels of groundwater in Korea. Probability distribution of 616 samples was log-normal one with 1,867pCi/L as arithmetic value, 920pCi/L as median and 40,010pCi/L as maximum during iou. years(1999-2002). In addition, 10% of total samples are in excess of 4,000pCi/L, 20% in excess of 2,700pCi/L, and 30% in excess of 1,700pCi/L, and 15 samples exceeds 10,000pCi/L. Total samples are grouped into 10 areas and 5 rocks unit, and difference of concentrations among areas and rocks are statistically significant(respectively, p<0.0001). The highest area is Daejeon located in ogcheon metamorphic rocks and granitic rocks, and most of all sites with high concentration sites are located in granitic rocks. The lowest area is Jeju located in volcanic rocks. We have estimated excess cancer risks of radon based on these data. To estimate risks, first of all, use patterns of groundwater are categorized with 6 groups: for drinking, household, farming, washing cars, raising stock, and others. We considered risk only for drinking water and household water because radon is rapidly dispersed before it of other use reach human respiratory organs. We select 565 samples for risk analysis, and applied unit risk which is 6.6210-7 per pCi/L to be recommended by NAS committee. Unit risk was derived from considering radon ingestion and radon inhalation from water use. When estimating risk, we analyzed PDF of concentration and represented risk as 50 and 95 percentile values to consider uncertainty with Monte-Carlo simulation. It results in 10-4 level of their excess cancer risk and in 10-2 level in some areas with high concentration of radon. It must be monitor periodically and take adequate actions in these risky sites. We recommend that it needs to take more survey and finally set guideline for radon regulation in groundwater.