• The Journal of Industrial Distribution & Business
• /
• v.12 no.3
• /
• pp.43-49
• /
• 2021

Purpose: This study attempted to examine the risk of stock price plunge according to the firm's management strategy. Prospector firms value innovation and have high uncertainties due to rapid growth. There is a possibility of lowering the quality of financial reporting in order to meet market expectations while withstanding the uncertainty of the results. In addition, managers of prospector firms enter into compensation contracts based on stock prices, thus creating an incentive to withhold negative information disclosure to the market. Prospector firms' information opacity and delays in disclosure of negative information are likely to cause a sharp decline in share prices in the future. Research design, data and methodology: This study performed logistic analysis of KOSPI listed firms from 2014 to 2017. The independent variable is the strategic index, and is calculated by considering the six characteristics (R&D investment, efficiency, growth potential, marketing, organizational stability, capital intensity) of the firm. The higher the total score, the more it is a firm that takes a prospector strategy, and the lower the total score, the more it is a firm that pursues a defender strategy. In the case of the dependent variable, a value of 1 was assigned when there was a week that experienced a sharp decline in stock prices, and 0 when it was not. Results: It was found that the more firms adopting the prospector strategy, the higher the risk of a sharp decline in the stock price. This is interpreted as the reason that firms pursuing a prospector strategy do not disclose negative information by being conscious of market investors while carrying out venture projects. In other words, compensation contracts based on uncertainty in the outcome of prospector firms and stock prices increase the opacity of information and are likely to cause a sharp decline in share prices. Conclusions: This study's analysis of the impact of management strategy on the stock price plunge suggests that investors need to consider the strategy that firms take in allocating resources. Firms need to be cautious in examining the impact of a particular strategy on the capital markets and implementing that strategy.

• The Journal of the Convergence on Culture Technology
• /
• v.8 no.1
• /
• pp.523-529
• /
• 2022

Art sponsorship contributed to the development of culture and art by supporting art activities to be financially stable. Various problems in the non-fungible tokens (NFTs) market, such as speculative transactions, are also expected to be improved through sound art sponsorship. This study proposes methods of implementing art sponsorship using NFTs and smart contracts. First, we propose a method of posting the acknowledgement of art sponsorship using NFT metadata. Second, we propose a method to remit sponsorship funds according to the project schedule using time-locked wallets. Third, we propose a method to remit sponsorship funds when major events of the project occur or requirements are met using Event-Driven Execution. The proposed methods can be used to share the fact about art sponsorship and safely fund it. However, many decisions about art projects must be made based on information generated outside the blockchain, which can lead to Oracle problems, so further research is needed.

• Journal of the Korean Dietetic Association
• /
• v.28 no.2
• /
• pp.67-84
• /
• 2022

This study aimed to explore the status of food service outsourcing behavior of long-term care institutions (LTCIs) through a cross-sectional survey using a questionnaire administered between July 16th and August 7th, 2020. The survey respondents were either dietitians or facility managers, who worked at 731 nursing homes, 477 group homes, and 673 day-care centers. Approximately 25.9% of nursing homes, 11.7% of group homes, and 33.1% of day-care centers used a managed-services company to operate their food service units. The main reason for outsourcing food service by nursing homes was related to the staffing of dietitians and cooks, whereas group homes and day-care centers outsourced food services due to factors relating to meal costs and the cooking process. Almost all the LTCIs entered into private contracts for outsourced food services. Only a few food service contracts included the types of meals, nutrition standards such as protein and calories per meal, and the parameter or ratio of food cost. Of the respondents, 84.5% from nursing homes, 87.5% from group homes, and 87.1% from day-care centers agreed that the quality of outsourced food services of the LTCIs should be regulated. Meals are essential for maintaining the health and functional status of LTCI users. As more LTCIs outsource their food services, we suggest the following: (1) Increasing the minimum dietitian staffing standards for LTCIs as per the Welfare of Senior Citizens Act and requiring at least one dietitian for every nursing home, (2) Making it mandatory to use a standard food service contract template when drafting food service contract, and (3) Developing realistic standards for food service operations considering the size and operation type of the LTCIs.

• Korea Trade Review
• /
• v.41 no.4
• /
• pp.111-129
• /
• 2016

In this paper, I reviewed the analysis of possible ICC model of international sale contract terms used in the international artwork trade. Based on this, the provisions proposed considering the specialties of the international artworks trade. The purpose of this research study is to help practitioners draw up a contract of international artworks trade. In Chapter II, I reviewed the highlights of the international sale of goods contract. In Chapter III, I discussed the issues that arise in creating specific provisions on the international artworks trade agreements. In Chapter IV, I discussed the issues in creating the general provisions on the international artworks trade agreements. Quantity provisions of the international artworks sales contract should include the "more or less" clause. And it should also clearly define the scope of the author's property rights transfer in the copyright provisions. Even if a buyer has been assigned the copyright of artworks from the artist, if the buyer modifies the artworks without permission, moral rights can be violated. In addition, even if a buyer has been assigned all of the intellectual property rights of the artists, if the buyer does not have the specific provisions, the buyer must keep in mind that the unauthorized publication of artworks, film production, merchandising, etc, may infringe the right to create derivative works.

• International Journal of Computer Science & Network Security
• /
• v.23 no.10
• /
• pp.147-156
• /
• 2023

Electronic voting machines (EVMs) are replacing research ballots due to the errors involved in the manual counting process and the lengthy time required to count the votes. Even though these digital recording electronic systems are advancements, they are vulnerable to tampering and electoral fraud. The suspected vulnerabilities in EVMs are the possibility of tampering with the EVM's memory chip or replacing it with a fake one, their simplicity, which allows them to be tampered with without requiring much skill, and the possibility of double voting. The vote data is shared among all network devices, and peer-to-peer verification is performed to ensure the vote data's authenticity. To successfully tamper with the system, all of the data stored in the nodes must be changed. This improves the proposed system's efficiency and dependability. Elections and voting are fundamental components of a democratic system. Various attempts have been made to make modern elections more flexible by utilizing digital technologies. The fundamental characteristics of free and fair elections are intractability, immutability, transparency, and the privacy of the actors involved. This corresponds to a few of the many characteristics of blockchain-like decentralized ownership, such as chain immutability, anonymity, and distributed ledger. This working research attempts to conduct a comparative analysis of various blockchain technologies in development and propose a 'Blockchain-based Electronic Voting System' solution by weighing these technologies based on the need for the proposed solution. The primary goal of this research is to present a robust blockchain-based election mechanism that is not only reliable but also adaptable to current needs.

• Journal of Intelligence and Information Systems
• /
• v.18 no.2
• /
• pp.157-175
• /
• 2012

It is difficult to evaluate the performance of process innovation of e-procurement which has large scale and complex processes. The existing evaluation methods for measuring the effects of process innovation have been mainly done with statistically quantitative methods by analyzing operational data or with qualitative methods by conducting surveys and interviews. However, these methods have some limitations to evaluate the effects because the performance evaluation of e-procurement process innovation should consider the interactions among participants who are active either directly or indirectly through the processes. This study considers the e-procurement process as a complex system and develops a simulation model based on MAS(Multi-Agent System) to evaluate the effects of e-procurement process innovation. Multi-agent based simulation allows observing interaction patterns of objects in virtual world through relationship among objects and their behavioral mechanism. Agent-based simulation is suitable especially for complex business problems. In this study, we used Netlogo Version 4.1.3 as a MAS simulation tool which was developed in Northwestern University. To do this, we developed a interaction model of agents in MAS environment. We defined process agents and task agents, and assigned their behavioral characteristics. The developed simulation model was applied to G2B system (KONEPS: Korea ON-line E-Procurement System) of Public Procurement Service (PPS) in Korea and used to evaluate the innovation effects of the G2B system. KONEPS is a successfully established e-procurement system started in the year 2002. KONEPS is a representative e-Procurement system which integrates characteristics of e-commerce into government for business procurement activities. KONEPS deserves the international recognition considering the annual transaction volume of 56 billion dollars, daily exchanges of electronic documents, users consisted of 121,000 suppliers and 37,000 public organizations, and the 4.5 billion dollars of cost saving. For the simulation, we analyzed the e-procurement of process of KONEPS into eight sub processes such as 'process 1: search products and acquisition of proposal', 'process 2 : review the methods of contracts and item features', 'process 3 : a notice of bid', 'process 4 : registration and confirmation of qualification', 'process 5 : bidding', 'process 6 : a screening test', 'process 7 : contracts', and 'process 8 : invoice and payment'. For the parameter settings of the agents behavior, we collected some data from the transactional database of PPS and some information by conducting a survey. The used data for the simulation are 'participants (government organizations, local government organizations and public institutions)', 'the number of bidding per year', 'the number of total contracts', 'the number of shopping mall transactions', 'the rate of contracts between bidding and shopping mall', 'the successful bidding ratio', and the estimated time for each process. The comparison was done for the difference of time consumption between 'before the innovation (As-was)' and 'after the innovation (As-is).' The results showed that there were productivity improvements in every eight sub processes. The decrease ratio of 'average number of task processing' was 92.7% and the decrease ratio of 'average time of task processing' was 95.4% in entire processes when we use G2B system comparing to the conventional method. Also, this study found that the process innovation effect will be enhanced if the task process related to the 'contract' can be improved. This study shows the usability and possibility of using MAS in process innovation evaluation and its modeling.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.37 no.2
• /
• pp.19-26
• /
• 2014

With the radical changes and advancements of industrial economy, it is required to secure product competitiveness through technological innovations to overcome uncertain environments and generate a driving force for sustainable growth. So the Korea government introduced the superior product selection system in 1996 and has granted such incentives as priority purchasing and contracts the products of SME whose technological capabilities have passed the screening criteria. After analyzing the ambiguity of the evaluation procurement used in designation of excellent product, this study proposed seven detailed indexes for evaluation.

• Korean Journal of Computational Design and Engineering
• /
• v.13 no.4
• /
• pp.286-295
• /
• 2008

Construction industry, which is a composite industry being performed by organic combination of various tasks, gives birth to a various of information in the stages of planning, designing, and maintenance management. In particular, the drawing information is broad in the scope of use because it contains all information about buildings as wall as bid, materials, contracts. Therefore, the management of drawing information security is one of the most important factors, which determines the success of failure of business. The major findings and result of this study are as follows to control the distributed drawing information in the collaboration environment. 1) Analysis for function and practical use of DRM in the construction industry. 2) Proposal for applications of DRM that can secure IFC model-based drawing information in the collaboration environment. 3) Extraction from additional IFC entities to apply DRM to part 21 physical files 4) Analysis for functions which are necessary in DRM application prototype system and development of the system. 5) Development IFC model-based DRM prototype system.

• Korean System Dynamics Review
• /
• v.13 no.1
• /
• pp.81-112
• /
• 2012

This study investigate the impact of supply chain contracts on supply chain performance. This study employed Price adjustment contract(PAC) and Quantity adjustment contract(QAC) as two main types of a vertical coordination mechanism. We simulate different types of coordination mechanisms with various degrees of demand uncertainties and several capacity tightness scenarios. This study shows that PAC and QAC significantly enhance the supply chain profits and fill rates suggesting that supply chain performance can be improved by implementing a proper coordination mechanism depends on the level of a capacity tightness and demand uncertainty.

• Journal of the Korea Institute of Building Construction
• /
• v.13 no.3
• /
• pp.209-217
• /
• 2013

The execution of a construction project involves the engagement of many participants. Generally, the Authority uses CM to certify that the Work is built according to the contract documents. The CM work scope is expressed in the Construction Technology Management Act and its Regulation. The mandated and delegated CM services are limited to the construction period. If Contractor is required to repair a construction defect, the Contractor should bear the burden of the inspection service for the defect repair, because it is associated with him. Nevertheless, CM should submit a bond to provide the inspection and supervision service for the defect repair. These may result in conflict with each liability. Therefore, CM service in the law and regulation was investigated and analyzed in this study to classify the characteristics of CM contracts, and it was suggested that the CM liability for the inspection and supervision service for the defect repair should be reconsidered.