• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.4
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• pp.174-179
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• 2022

Companies are making design changes by improving product quality and function to succeed while meeting customer requirements continuously. Design changes are changing the product BOM's amount, item, specification, and shape while causing a change in the product's structure. At this time, the problem of inventory exhaustion of parts before design change is a big topic. If the inventory exhaustion fails, the pieces before the design change become unused and are discarded, resulting in a decrease in asset value, and the quality cost of the design change affects the company's profits. Therefore, it is necessary to decide to minimize quality costs while minimizing waste inventory costs at the time of application of design changes. According to the analysis, priorities should be prioritized according to urgency because the quantity of items before the design change affects the applied lead time.

• The Journal of Fisheries Business Administration
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• v.28 no.2
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• pp.1-18
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• 1997

The purpose of this study is to investigate empirically the characteristics of financial structure by using 76 fisheries corporations in Korea, and to suggest implications of the empirical results for government's financial policy for fisheries corporations. For the empirical test, we choose the following factors as the explanatory variables of cross-sectional regression analysis:firm-size(SIZE), collateral value of assets(TFATA), business risk(BRISK), growth(GROWTH), effective tax(ET), profitability(PROFIT). Two different debt ratios are used as dependent variables. One is defined as the ratio of total debt to total assets and the other is as that of long-term debt to total asset in terms of book value. The sample consists of 76 fisheries firms and sample period is 14 years from 1982 till 1995. From the results of cross-sectional regression analysis, the adjusted R$^2$values were high, 16∼79% and the overall F values indicated to be statistically significant. The results of cross sectional regression analysis show that the characteristics of financial structure fur fisheries corporations are as follows ; (1) Firm-size and collateral value of assets are the major factors of financial structure for fisheries corporations. That is, the larger firm-size the higher is debt ratio. This means that financial institutions conventionally lend more collateral loans with fixed assets like land, building rather than management capacities or credits. (2) To be consistent with a pecking-order theory, the higher is profitability the lower is debt ratio in fisheries corporations. (3) Corporations with high effective tax rate have lower financial leverage. Although the empirical results are inconsistent with traditional static trade-off theory, we think it would be attributed to government's various tax shelterings for fisheries which are likely to reduce tax shield effect of interests.

• Korean journal of communication and information
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• v.78
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• pp.141-176
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• 2016

This study investigates changes of market structure from 2001 to 2015 in the Korean daily newspaper industry using concentration and mobility measures. The main empirical results are as follows. First, the industry's total asset shows a U-shaped trend, despite the downward trend of the industry's total sales revenue. Second, the market concentration, measured in terms of assets, shows the trend of an inverted-U shape. The relatively small firms, measured in terms of assets, have on average gained in market share while the relatively large firm have lost. Third, market concentration, measured in terms of sales revenues, shows a U-shaped trend. the relatively small firms, measured in terms of sales revenues, have on average gained in market share while the relatively large firm have lost. My central argument has been that it is desirable to supplement traditional concentration measures with mobility statistics and trend analyses in investigating and regulating market structure.

• International Commerce and Information Review
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• v.19 no.1
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• pp.257-278
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• 2017

The paper examines the ownership structure and the firm value of online firms in the world. Data are gathered by using FACTIVA database for firms in the Dow Jones index for the 2014 fiscal year. The Ordinary Least Squares regressions, the Generalized Linear Model, and the model selection criteria are employed to analyze the relationship between the dependent and the independent variables. The paper tests theories such as the convergence of interest theory, the managerial entrenchment theory, and the eclectic theory. The paper finds that the ownership structure has an influence on the firm value depending on the rank of the large shareholders. While the first large shareholders have a negative association with the firm value, the presence of the second and the third large shareholders have a positive influence on the firm value. The paper also finds that the identity of the largest shareholders whether they are insiders or outsiders have an influence on the firm value. The proportion of shareholding by a large shareholder and her identity are variables which predict a firm value.

• Korean Journal of Human Ecology
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• v.14 no.4
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• pp.613-629
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• 2005

This research analyzes household financial structures and ratios to understand factors of household utility. Its main themes are as following: First, what kinds financial structures are found at each level of income? Second, how are they different by the level of income? Third, what factors contribute to appropriate financial ratios? The themes are supported by the texts on financial ratios from both inside and outside of Korea and proved by the Korean Labor and Income Panel Survey, the fifth annual edition. The households are exempted that do not support the household principle record in the principle and household economy record. Accordingly, this survey is from a financial structure analysis of 3,762 households. The analysis utilizes SPSS Window (Version 10.0) program. The following are the results: First, the income level 4 and above, in which the increasing number indicates a higher level of income, are highly ranked on the income-expense level and the asset-debt rate. Also, level 4 has a strong financial structure, whereas level 1 does not. Apparently, the management of the household is complicated by debt redemption and a lower level of assets. Second, Ratio 1, Ratio 2, Ratio 4, and Ratio 5 are different by the level of income. Third, the level of income contributes to the appropriate financial ratio. The financial safety and prospective financial structure at each income level is an important variable. Households with a high income, in particular, have to balance their finances and capital, reducing liabilities and increasing the total assets. In other words, the family must hold assets to enhance efficiency according to the character and income level of the household. This research is a useful resource for such a decision-making as to improve household financial structure stability. Also, it can be adopted to evaluate financial products for specific households and be used for economic and social welfare planning to predict how households influence the nationwide economy.

• Journal of Distribution Science
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• v.14 no.12
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• pp.129-139
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• 2016

Purpose - This paper examines the explanatory power of the agency theory in the determination of cash holdings for Korean retail firms. If the agency theory holds, a firm with strong corporate governance structure tends to have low cash holdings. A strong governance structure makes the CEO of this firm to behave in the interests of shareholders and thus the CEO has low incentive to stockpile cash holdings, which can be easily diverted for the CEO's own managerial purposes. We investigate this relationship between corporate governance structure and cash holdings, by using corporate governance scores as a proxy variable that captures the effectiveness of corporate governance mechanism. Research design, data, and methodology - We adopt the sample of publicly listed retail firms in KOSPI market from 2005 to 2013. Financial and accounting statements are gathered from the WISEfn database. We also use the corporate governance scores published by Korean Corporate Governance Service. The relationship between the corporate governance scores and cash holdings is cross-sectionally estimated based on the ordinary least square method. This estimation method is widely accepted in the existing literature. The sample of large conglomerates, Chebol, and the remainder firms are separately examined as well, to account for the distinctive internal financing environment in these large conglomerates. Results - We mainly contribute to the extant literature by providing empirical evidence against the agency theory of cash policy. Unlike the prediction of agency theory, we confirm statistically insignificant or even positive correlations between the set of corporate governance scores and cash-asset ratios. Almost all the major corporate governance attributes including total score, shareholder rights, board structure, and the quality of information disclosure do not show negative correlations with cash holdings, which poses a strong challenge to the validity of the agency theory in the determination of retail firms' cash holdings. Conclusions - This study presents interesting empirical results with respect to the cash policy in Korean retail firms. Consistent to prior studies, I verify that the agency theory only limitedly explains the level of cash holdings. Future studies may obtain more robust results by examining a longer sample period.

• The Journal of Korean Institute of Electromagnetic Engineering and Science
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• v.18 no.5 s.120
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• pp.530-538
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• 2007

An inductor library for efficient low cost RFIC design has been developed based on a standard digital 0.18 ${\mu}m$ CMOS process. The developed library provides four structural variations that are most popular in RFIC design; standard spiral structure, patterned ground shield(PGS) structure to enhance quality factor, stacked structure to enable high inductance values in a given silicon area, multilayer structure to lower series resistance. Electromagnetic simulation, equivalent circuit, and parameter extraction processes have been verified based on measurement results. The extensive measurement and simulation results of the inductor library can be a great asset for low cost RFIC design and development.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.205-224
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• 2020

Purpose - This study aimed to identify the effects of ownership structures on agency costs in internationally diversified firms listed on the KOSDAQ market. Design/methodology/approach - A total of 5,824 samples were finally selected and empirically analyzed for a total of nine years from 2011 to 2019, during which the International Accounting Standards had been mandatory for firms listed on the KOSDAQ market. Findings - The results of this study showed that the effects of ownership structures on the ratio of asset turnover are positive for the major share and foreign equity ratios of international diversified firms. Moreover, by selecting the ratio of entertainment expenses as a proxy for agency expenses, this study confirmed that the effects of the ownership structure of an international diversified entity on entertainment expenditure were determined to show a significantly negative relation to entertainment expenditure, thus indicating that the higher the ratio of major shareholders, the more appropriately control the expenditure of entertainment expenses through arbitrary private deviations of the management.Furthermore, considering the effect of the ownership structure on the expenditure of sales and administrative expenses as a proxy variable for agency costs, this study verified that the majority share ratio of international diversified firms was negative to the expenditure of sales and administrative expenses, confirming that the higher the share of major shareholders, the lower the selling and administrative costs, but insignificant.Finally, as a result of determining whether the ownership structure of an international diversified firm affects the holding of free cash, the majority share of this firm shows a significantly negative relation to the ratio of the holding of surplus cash, indicating that the higher the proportion of major shareholders, the more appropriately control the holding of the entity's free cash through arbitrary private deviance by the manager. Research implications or Originality - Major shareholders of an internationally diversified firm listed on the KOSDAQ market play a positive role in the firm's performance by properly controlling agency costs that may be incurred by the management.

• Fisheries and Aquatic Sciences
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• v.25 no.9
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• pp.473-488
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• 2022

To have a better understanding of the impact of the PETRONAS oil and gas platform on commercial fisheries activities, Universiti Malaysia Terengganu (UMT) examined two approaches which are data collection from satellite and data collection from fishermen and anglers. By profiling the anglers who utilize reefed oil and gas structures for fishing, it can determine if the design and location of the reef platforms will benefit or negatively impacts those anglers and fisherman. Furthermore, this assessment will be contributing to the knowledge regarding the value of offshore oil and gas platforms as fisheries resources. Collectively, the apparent fishing activity data included, combined with the findings in the reefing viability index will help to inform PETRONAS's future decommissioning decisions and may help determine if the design and proposed locations for future rigs-to-reefs candidates would benefit commercial fishing groups, further qualifying them as appropriate artificial reef candidates. The method applied in this study is approaching by using a data satellite known as Google's Global Fishing Watch technology, which is one of the applications to measure commercial fishing efforts around the globe. The apparent commercial fishing effort around the selected twelve PETRONAS platforms was analyzed from January 2012 to December 2018. Using the data collection from fishermen which is the total estimation of commercial fish value cost (in Malaysia ringgit, MYR [RM]) in Peninsular Malaysia Asset, Sabah Asset, and Sarawak Operation region. The data were extracted every month from 2016 to 2018 from the National Oceanic and Atmospheric Administration database. Most of the selected platforms that show a high frequency of vessels around the year are platform KP-A, platform BG-A and platform PL-B. The estimated values of commercial fishes varied between platforms, with ranged from RM 10,209.92 to RM 89,023.78. Thus, platforms with high commercial fish value are selected for reefing in-situ and will serve multi-purposes and benefit the locals as well as the country. The current study has successfully assessed the potential reefing area of the Malaysian offshore environment with greater representativeness and this paper focused on its potential as a new fishing ground.

• The KIPS Transactions:PartD
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• v.12D no.7 s.103
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• pp.1071-1078
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• 2005

Use case modeling is a widely used technique for functional requirements analysis of business system but it is difficult to identify a use cases at the right level and use case specifications are too long and confusing. It is also hard to determine a functional decomposition Phases·s of use cases. Therefore customer doesn't understand the use cases. This paper is defining concept of the Information Structure Modeling(ISM) and analyzing business system for the customer's perspective. ISM is an efficient mechanism for analyzing user requirements and for Identifying objects in a business system using Attribute Structure Diagram which is a major tool of the ISM that describes user event. This paper is also to show how the classes are classified and derived as event-asset-transaction type in ISM. It provides a user-friendly approach to visually representing business model.