• Journal of Technology Innovation
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• v.30 no.3
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• pp.1-34
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• 2022

This study examines the effect of CEO age on the value relevance of R&D which is the relationship between R&D expenditures and firm value. The value relevance of R&D expenditures is higher in companies with current older CEOs, while the relationship in companies with younger CEOs is lower than that of other companies. These results suggest that older CEOs tend to be conservative and make prudent R&D investment decisions. Because they make systematic investment decisions with rich experience, they are expected to have higher investment performance in the market. On the other hand, young CEOs choose risky investments in order to have their abilities highly evaluated in the labor market. The market places a high degree of risk on the R&D decision-making of young CEOs. Next, we analyze whether the age of the replaced CEOs affects the relationship between R&D expenditures and firm value. The result shows that the change of management increases the effect of R&D expenditure on firm value. However, in the case of being replaced by a younger CEO, this positive relationship becomes lower than that of other companies, showing results consistent with the case of the current younger CEO. The samples are analyzed by dividing them into conglomerates and non-conglomerates. In conglomerates, the age of the replaced CEOs does not affect the value relevance of R&D expenditures. Only non-conglomerates showed a negative (-) effect on the replaced younger CEOs. These results suggest that conglomerates maintain the stability of R&D management and performance so that the performance of R&D expenditures is not significantly affected by the age of the replaced CEOs. The reason is that mutual checks and support are coordinated within the group through decentralization of work and systematization of decision-making. This study shows evidence that the relationship between R&D expenditure and firm value according to the age of the replaced CEO is a phenomenon that only occurs in non-conglomerates. This phenomenon suggests that conglomerates are stably managing their R&D performance regardless of the change of CEOs or the characteristics of the CEOs.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.14 no.6
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• pp.189-197
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• 2014

This study analyzed the characteristics of multiple intelligence and the levels of academic adjustment for the department and the major among undergraduate students majoring in IT. Seventy freshmen majoring in IT at the department of M, H University participated in this study and the basic major subject required for the department was Computer Language: I-C Language. Eight intelligence areas less controversial in Gardner's multiple intelligence theory were used; academic adjustment was manipulatively defined as the degree of adjustment for the department and the major among undergraduate students; and pleasure, flow, familiarity and relevance to the major, academic achievement, and major satisfaction were selected as variables through literature review. The undergraduate students majoring in IT showed high levels of interpersonal intelligence and intrapersonal intelligence, with insignificant gender differences. Significant correlations were found between multiple intelligence and academic adjustment. In particular, while pleasure and flow in C programming were found to be at low levels in academic adjustment, the significant correlation between linguistic intelligence in multiple intelligence and flow in C language was a very interesting finding. While significant correlation was not found between multiple intelligence and academic achievement, students who were more highly aware of the relevance to the major and who were more familiar with C language showed higher academic achievement. Lastly, limitations of this study were discussed; on the basis of the results, suggestions were made about prescriptive strategies to improve academic achievement for undergraduate students majoring in IT.

• Journal of Industrial Convergence
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• v.20 no.8
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• pp.41-52
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• 2022

Education for an organization is implemented to improve the organizational and each individual's performance. However, the actual results are not as expected. Accordingly, this study is committed to investigate the education related factors that have impact on the organizational performance, which is defined by the trainee's organizational commitment and work performance. Based on the acquired knowledge, we suggest things to consider when designing corporate training for performance creation. First, it is investigated whether the task value and job relevance(educational content characteristics) and the degree of support for education within the company(organizational characteristics) affect learning-transfer of trainees. After that, the causal relationship from the learning-transfer to organizational commitment and work performance(organizational effectiveness) is analyzed. In this overall process, the effect of on-/off-line education is analyzed and compared. As a result, it is found that the task value, the job relevance, and organizational compensation have a significant impact on the learning-transfer, and the learning-transfer has impact on organization commitment and work performance. In addition, the moderating effect of the on-/off- education is identified. This study is conducted only with franchise enterprises and as a future study, a more general sampling is required to extend this work.

• Journal of Korean Home Economics Education Association
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• v.23 no.4
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• pp.143-157
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• 2011

This study aims to identify family strength and career maturity, and to explore the difference of career maturity according to family strength, targeting high school students as subjects. A total of 1,000 copies of the questionnaire were distributed and 858 copies were used for the final analysis. The major results are summarized as follows: In respect to general tendency of family strength and career maturity, the score of family respect was the highest, 3.59, followed by 3.56 of gratitude and affection, 3.54 of problem shooting ability, economic stability, faithfulness to role, emotional bond, positive communication and goal sharing. The score of emotional bond with society was the lowest, 2.90. The score of family strength was 3.36, which was the intermediate level. As sub-factors of career maturity, the score of relevancy was 3.40, and that of tendency was 3.17, followed by that of independence and compromise. The score of determination was the lowest, 2,75. A total score of career maturity was 3.05. Family strength was marked highly by the girls students studying humanities, and religious ones. Those whose parents have high education and no-divorce background also showed high scores. High school students with higher economic levels and long-married parents showed higher scores than high school students with poor economy levels and single parents. Students with parents who have professional jobs also marked high scores. Career maturity degree as a background variable was significantly higher in the following cases: In terms of religious background, students whose mother are buddhists or atheists marked high scores. High scores were marked by those whose parents have higher education and no-divorce background. High school students from middle class and over and long-married parents showed higher career maturity degree than high school students with poor economy levels and single parents. Students with parents who have professional jobs also marked high career maturity degree. While career maturity degree, which is subjected to family strength, showed very different results when analysed with 5 sub-variables. As family strength resulted in positive effects to career maturity degree, higher family strength showed higher career maturity degree. Especially, in the areas of relevance and tendency of career maturity degree, the effects of positiveness was clearly high.

• Analyses & Alternatives
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• v.1 no.2
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• pp.2-12
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• 2017

Research on democratic transitions has relatively ignored the question of why some countries experience a regressive form of political pacts, while others do not. This paper develops a simple game-theoretic model to explain the phenomenon of collusive pacts in the process of democratization. Trasformismo is a term that refers to a system of political exchange based on informal clientelistic politics. The existing studies of the politics of trasformismo have emphasized the timing of industrialization and the tradition of strong state as conditions of the politics of trasformismo. However, not every late industrializers and not every strong states experienced some variants of collusive political pacts in their trajectories of democratization. In this paper, I contend that the politics of trasformismo is rather a generalizable pattern of political elites' behavior under particular circumstances. By developing a simple game theoretic model, this paper suggests the conditions under which political actors are likely to collude to a regressive form of political pacts. The model shows that the likelihood of collusion to a regressive form of political pacts is a function of a set of parameters. First, a higher level of incumbency advantage in electoral competition is likely to be associated with a higher probability of collusive political pacts. Second, a higher degree of the monopoly of political representation of political parties without a close link with a variety of societal forces is likely to induce collusive behavior among politicians. Third, the ruling party leader's expectations about the likelihood of a safe extrication are related to collusive political pacts. This paper then engages in a case study of the 1990 three-party merger in South Korea. The 1990 Korean case is interesting in that the ruling party created a new party after having merged with two opposition parties. This case can be considered a result of political maneuver in a context of democratization. The case study suggests the empirical relevance of the game-theoretic model. As the game of trasformismo and the case study of the 1990 three-party merger in South Korea have shown, the collusive political pact was neither determined by a certain stage of economic development nor by a particular cultural systems. Rather, it was a product of the art of trasformismo based on party leaders' rational calculations of the expected likelihood of taking governing power.

• Proceedings of the Korean Society for Quality Management Conference
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• 2010.04a
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• pp.209-217
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• 2010

The importance of performance management has been on the rise, which led to public sectors utilizing BSC performance management system as a tool for adaptability, effectiveness, efficiency, and reorganizational abilities by the public sectors. However, due to lack of fairness of evaluation of performance management, it is difficult to expect high level of acceptance by organizations. Therefore, the purpose of the research is to analyze the acceptance of performance management system by organizations via stabilizing the system within the organization group. The research will utilize BSC performance management system of private sectors to introduce the system to public sectors to show the correlation between fairness of performance management and acceptance of performance management. Theoretical background for correlation between fairness of performance management and acceptance of performance management was created through reviews of documents and theories focusing on performance management. The methodology of the research was shaped through surveying members of organizations of public sectors. To analyze the findings of the data SPSS was exploited to find the statistics regarding frequency, degree of reliability, relevance, and recurrence. To summarize the research findings, the perception of performance management by organization members of public sectors shows positive correlation between fairness and acceptance of performance management, also acceptance of performance management shows positive correlation regards to organization performance. In spite of the findings of the research, the fairness and distribution of performance management was not great. Limitation occurred due to lack of perception and knowledge of performance management of respondents of the survey.

• Knowledge Management Research
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• v.17 no.3
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• pp.93-116
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• 2016

Knowledge, as a source of firm's competitive edges, has been drawing attention, while numerous enterprises are investing huge amount of assets to foster the right environments for executing knowledge management (KM). As a practical way of such KM, knowledge management systems (KMS) support the creation, diffusion, and utilization of knowledge, which are the tools for practicing such management style. Recently, the customer centers which make the closest contact with the customers are being concerned about the establishment of KMS. Considering the characteristics of real-time problem solving in customer centers during the consultation with the customers, the importance of KMS is paramount to the centers. This study analyzes major factors influencing the success and utilization of the customer center KMS's reestablishment, as an exploratory case study of the reestablishment of KMS in the customer center of K insurance company. First, the characteristic differences between the customer center's KMS and the traditional KMS are discussed, and the triangulation technique is applied to secure objectivity of this case study's findings. Major results of the case study state that, for the success of KMS and improvement of utilization, the followings should be considered preferentially: excellent system quality (accessibility, user convenience, easy searching, speed/menus); high information quality (accuracy, usefulness, timeliness, task-relevance, diversity, degree of specification); appropriate operation strategy and process for the utilization of system (education, training opportunity, appropriate personnel, speed and procedure of approval, compensation/evaluation); and change management via the support from the CEO's level (concern and participation of CEO, will to propel the project, investment, advertisement, etc.). This study provides practical suggestions with respect to factors which should be more carefully dealt with, since still many customer centers have hard time establishing and operating KMS due to lack of previous studies.

• Asian Pacific Journal of Cancer Prevention
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• v.13 no.10
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• pp.5161-5165
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• 2012

Background: There are few molecular markers known to predict cholangiocarcinoma (CCA) prognosis. Smad7 has a certain relationship with epithelial-mesenchymal transition (EMT), but its relevance to CCA in unclear. Therefore expression and clinical significance of Smad7 in CCA was the focus of this study. Methods: Expression of Smad7, E-cadherin and vimentin was assessed in 41 patients with CCA by immunohistochemistry and analyzed for associations with clinical parameters. Results: Smad7 and vimentin expression in the CCA tissue was dramatically higher than that in adjacent tissues. In addition, Smad7, vimentin and E-cadherin expression was significantly associated with CCA lymph node metastasis and perineural invasion($P{\leq}0.05$), but not other factors, such as gender, age, tumor location, tumor type and tumor differentiation degree (P>0.05). The overall survival and relapse-free survival rate was significantly higher in patients with negative Smad7 expression than those with positive Smad7 expression. Conclusion: EMT phenomena may occur in the process of CCA invasion and metastasis. Smad7, which was highly expressed in CCA, may be considered to be one feedback regulator in late stages and could have potential as a prognostic indicator for clinical assessment.

• Childhood Kidney Diseases
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• v.19 no.2
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• pp.184-189
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• 2015

Poststreptococcal glomerulonephritis (PSGN) is one of the most well-known and important infectious renal diseases resulting from a prior infection with group A ${\beta}$-hemolytic streptococcus. The typical clinical characteristics of the disease reflect acute onset with gross hematuria, edema, hypertension and moderate proteinuria after the antecedent streptococcal infection. In children, usually PSGN is healed spontaneously but if it combines with fast progressing glomerulonephritis, it would be developed to chronic renal failure. Therefore, it is important to make a fast diagnosis and treatment by simple tools to predict the course and the prognosis of disease. Sonography is a simple tool for diagnosis but there is no typical renal sonographic finding in PSGN, so it is difficult to predict the course and the prognosis of disease by sonographic findings. In comparison between two cases of renal sonographic findings in PSGN, a patient who showed more increased echogenicity in more extended area of renal sonography had the severe results of renal pathology, prolonged treatment period and low serum C3 level. Here, we report the different findings of renal sonography and pathology depending on the degree of severity between two patients. Thus, it is necessary to gather more information from further studies to make a consensus about the relationship between the renal sonography and the prognosis of disease in PSGN.

• Journal of Distribution Science
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• v.18 no.2
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• pp.99-108
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• 2020

Purpose: This paper investigated the relationship between market competition and firm valuation error. Furthermore, Additional analyses were made according to the quality of financial reports and the listed market. Through the process we confirm to the impact of competition on the capital market. The purpose of this study is to analyze the impact of competition on valuation errors. The preceding studies did not provide a consistent results of the effects of competing functions on the capital market. One view is that the competition could mitigate the information asymmetry, and the other is that monopolistic lessens the manager's involvement in financial reporting. This study is intended to expand the prior study by analyzing the impact of competition on the capital market and on the valuation of investors. Research design, data, and methodology: The analysis was conducted on 12,031 samples over 11 years from 2008 to 2018 using data from market in Korea. Here the valuation error was measured by the research methodology of Rhodes-Kropf, Robinson and Viswanathan (2005), and competition measured by Herfindahl-Hirschman Index multiplied by (-1), and Concentration Ratio by (-1). Results: We confirm that the positive relationship between competition and the valuation error. In addition, we also found that the positive relation between competition and valuation error was in cases of low discretionary accruals and the KOSDAQ market. This means that the net function of competition does not mitigate valuation errors. Conclusions. This study has the following contributions when compared to prior research. First, the relevance between the level of competition and the valuation of the entity was confirmed. The study by Haw, Hu and Lee (2015) suggested that monopolistic industry of analysts' forecast is more accurate due to lower the variability in earnings. This study magnified it to confirm that monopolistic lessen information uncertainty in valuation. Second, the study on valuation errors was expanded. While the study on the effect of valuation errors on the capital market is generally relatively active, it is different that competition degree has analyzed the effect on valuation errors amid the lack of research on the effect on valuation errors.