• Journal of Distribution Science
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• v.21 no.12
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• pp.83-89
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• 2023

Purpose: Research on spin-off and treasury stock is necessary because the market has realized that this can be utilized for major shareholder private interest. Considering the unique characteristic of a spin-off and treasury stock in the Korean stock market, this study contributes to the literature by examining the effects on shareholder value in the Korean distribution industry. Research design, data, and methodology: The present study investigates literature, analyst reports, and news articles to examine the spin-off process and analyze how treasury stock magic happens. Results: Setting the exchange ratio favoring Spin-Co in the spin-off is the leading cause for reducing the minor shareholders' value. Moreover, treating treasury stock as an asset is also problematic, allowing the allocation of Spin-Co shares. This leads to an increase in the major shareholder controls of Spin-Co without any contribution from the major shareholders. Therefore, the exchange ratio should be calculated reasonably, and treasury stock from the stock repurchase should be treated as stock retirement. Conclusion: By analyzing the spin-off and how treasury stock magic occurs, this study provides recommendations to improve shareholder value. Moreover, it contributes to the maturation of the Korean capital market by promoting a discussion on the revision of spin-off and treasury stock.

• Journal of Korea Society of Digital Industry and Information Management
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• v.4 no.4
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• pp.113-125
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• 2008

This paper investigates the spillover effects(co-movements) between korean and U.S stock market by KOSPI and DJIA Index. Especially it compare to the pre- and post period of U.S. financial crisis resulted from sub-prime mortgage loan. The main results are as follows. First, the spillover effects of DJIA(U.S. market) to KOSPI(Korean market) are strong. This result accord with the former researches on this subject. Second, spillover effects are more strong after U.S. financial crisis. A possible reason for this phenomenon is a trend which the major investors such as foreign and institutional investors in domestic stock market have more attention to U.S. stock market. Third, the spillover effects appear in the opposite direction, that is KOSPI(Korean Stock Market) to DJIA(U.S. Stock Market). It seems to be the results of asian stock market's growing infIuences to European and U.S Markets.

• Culinary science and hospitality research
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• v.14 no.2
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• pp.115-127
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• 2008

The purpose of this study is to validate the evaluation of stock, which has relation with self-esteem and career for the development of commercial stock. This study conducted a survey of purchasing attitudes & receptiveness in order to hold an accurate course for developing stock. According to the analysis, the results are as follows. It examined the cuisiniers of deluxe hotels who mainly use stock of Seoul and the capital region. A total of 350 samples were distributed and 289 samples were selected for the research. Statistical analysis of collected data executed frequency, percentage, average, reliability analysis, factor analysis using SPSSWIN 12.0 PC package programs. Making stock, cooking skills, cooking methods, quality of food ingredients and cooking recipes are important. Also, sensory characteristics such as color, odor, and taste should be considered. Career and self-esteem act on the purchase accommodation attitude of commercial stock. Commercial stock products more than 1,000 mL or 2,000 mL of liquid styles need packing of vacuum pack(vinyl). Based on the result of this study, we will make efficient use of research data for the development of commercial stock products and we will be able to improve conservation of taste with good quality by making by hand through standardization and mass production of traditional culinary skills.

• The Journal of Information Systems
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• v.30 no.3
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• pp.21-45
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• 2021

Purpose This paper analyzed the impacts of domestic stock market by a global pandemic such as COVID-19. We investigated how the overall pattern of the stock market changed due to the impact of the COVID-19 pandemic. In particular, we analyzed in depth the pattern of stock price, as well, tried to find what factors affect on stock market index(KOSPI) in the healthcare industry due to the COVID-19 pandemic. Design/methodology/approach We built a data warehouse from the databases in various industrial and economic fields to analyze the changes in the KOSPI due to COVID-19, particularly, the changes in the healthcare industry centered on bio-medicine. We collected daily stock price data of the KOSPI centered on the KOSPI-200 about two years before and one year after the outbreak of COVID-19. In addition, we also collected various news related to COVID-19 from the stock market by applying text mining techniques. We designed four experimental data sets to develop decision tree-based prediction models. Findings All prediction models from the four data sets showed the significant predictive power with explainable decision tree models. In addition, we derived significant 10 to 14 decision rules for each prediction model. The experimental results showed that the decision rules were enough to explain the domestic healthcare stock market patterns for before and after COVID-19.

• Journal of Distribution Science
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• v.15 no.8
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• pp.47-54
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• 2017

Purpose - According to agency theory, managers have incentives to adjust firm revenues to meet earnings expectations or delay bad news disclosure because of performance-based compensation and their reputation in the market. When the bad news accumulates, stock prices fail to reflect all available information. Thus, market prices of stocks are higher than their intrinsic value. After all, bad news crosses the tipping point, it comes out all at once. That results in stock crashes. Auditors can decrease stock crash risk by reducing agency costs through their informational role. Especially, stock price crash risk is expected to be lower for firms adopting high-quality audits. We focus on distribution and service industry to examine the relation between audit quality and stock price crash risk. Industry specialization and auditor size are used as proxies for auditor quality. Research design, data and methodology - Our sample contains distribution and service industry firms listed in KOSPI and KOSDAQ during a period of 2004-2011. We use a logistic regression to test whether auditor quality influences crash risk. Auditor quality was measured by industry specialist auditor and Big4 / non-Big4 dichotomy. Following the approach in prior researches, we use firm-specific weekly returns to measure crash risk. Firms experiencing at least one stock price crash in a specific week during year are classified as the high risk group. Results - The result of analyzing 429 companies in distribution and service industry is summarized as follows: Above all, it is shown that higher audit quality has a significant negative(-) effect on the crash risk. Crash risk is alleviated for firms audited by industry specialist auditors and Big 4 audit firms. Therefore, our results show that hypotheses are supported. Conclusions - This study is very meaningful as the first study which investigated the effects of high audit quality on stock price crash risk. We provide evidence that high-quality auditors reduce stock price crash risk. Our finding implies that the risk of extreme losses can be reduced through screening of high-quality auditors. Therefore investors and regulators may utilize our findings in their investment and rule making decisions.

• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.37 no.5 s.113
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• pp.63-69
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• 2005

This study was performed to introduce recently developed polyvinylamine as a wet-end process and paper strength improving aids. As a retention and drainage aids, high cationic charged polyvinylamine was more effective at the BCTMP and ONP stock condition than LBKP stock condition. As a dry tensile strength aid, dual system of polyvinylamine with anionic polyacrylamide was the best at the LBKP or ONP stock conditions. On the other hand, polyvinyl amine alone was better than dual system of polyvinylamine with anionic polyacrylamide at the BCTMP condition. As a wet tensile strength aid, polyvinylamine single system and dual system of polyvinylamine with anionic polyacrylamide were good at LBKP, BCTMP and ONP stock conditions. However, poly(aminoamide)-epichlorohydrin resin was good at LBKP and ONP stock conditions but efficiency of poly(aminoamide)-epichlorohydrin resin was remarkably decreased at BCTMP stock condition.

• Journal of Service Research and Studies
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• v.1 no.1
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• pp.71-79
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• 2011

In recent years, a number of people are going more and more to develope and engage in stock and equity-related information and related industry. a lot of stock expection programs came out, but they are still unstable, especially predictions methods and reality is unfounded. In this paper, we have vast amounts of stock data, shares many of the changes affecting the width of the survey items, and should seek the weights. This is related to existing stock levels and categories and is another way. Results based on a systematic classification of the stock data that would like to introduce objectivity

• Journal of Climate Change Research
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• v.8 no.4
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• pp.385-391
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• 2017

This study was conducted to estimate litter carbon stock change from the National Forest Inventory (NFI) data for national greenhouse gas inventory report. Litter carbon stocks were calculated from the NFI dataset in NFI5 (2008) and NFI6 (2013) in Gangwon province. Total carbon stock change of litter was $0.68{\pm}0.71\;t\;C/ha$ from NFI5 (2008) to NFI6 (2013), however, there was no significant difference between the both dataset at 2008 and 2013 year. Litter carbon stock of coniferous stands was higher than deciduous stands in NFI5 (2008) and NFI6 (2013) (P<0.05). This study was limited to pilot study, so we will assess litter carbon stock using more complete data from NFI systems. It can be used as data sources for national greenhouse gas inventory report on forest sector.

• Journal of the Korea Society of Computer and Information
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• v.16 no.2
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• pp.279-288
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• 2011

The purpose of this research is to develop a standardization model for available stock management process among the entire Enterprise Resource Planning System modules of Automobile Parts Manufacturing Industry. The standardization model system is constructed through the phased method based on the development methodology of information establishment suggested by the Small and Medium Business Administration and Korea Technology and Information Promotion Agency for Small & Medium Enterprises. The standardization model is to develop the process modules of ordering management, storing management, delivering management, and stock management for available stock management process. The study will help the manufacturing business and related IT business which want to construct available stock management process under the ERP system to establish the system more effectively by applying the standardization model and also will provide them with construction availability and reliability. By application of this study results, the businesses will not only prevent the excessive possession of raw materials and products and reserve adequate and steady stock but also will check real-time stock, observe customer due date, decrease over-production and reduce stock cost.

• Journal of Korea Technical Association of The Pulp and Paper Industry
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• v.44 no.4
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• pp.62-68
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• 2012

This study was carried out to evaluate the effect of PCC loading at thick stock on the physical properties of paper. The effect of starch addition(2, 4 and 6%) and mixing time(5, 10 and 20 min.) on the filler retention and paper properties were investigated. Optimum dosage of cationic starch as a fixing agent was 4%, and mixing time did not showed any significant effect on the filler retention. PCC loading at thick stock was more effective to improve bulk and opacity than PCC loading at thin stock, although their improvement was not so significant. It was also found that the strength properties could be improved by the loading at thick stock. PCC loading method at thick stock could be considered as one of potential approaches for further improving of paper properties, although further research works are required in order to apply the PCC loading at thick stock in the paper mill.