• Journal of Distribution Science
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• v.13 no.9
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• pp.95-101
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• 2015

Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• The Journal of the Korea Contents Association
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• v.20 no.8
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• pp.499-512
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• 2020

The development of the economy and network environment has a great impact on physical stores, and physical bookstores are gradually upgrading and transforming with the pace of the times. This study takes the modern bookstore under the concept of the third space as the research object. The purpose of it is to understand the needs of consumers for the space of the modern bookstores, explore the characteristics and development direction of them, which provides theoretical guidance for the follow-up development of the modern bookstore. Based on the concept of the third space and the theory of lifestyle shops and reorganizing theoretical investigation and prior research, the researcher extracts the characteristic elements of modern bookstores in line with the concept of the third space. Moreover, the research analyzes five bookstores opened in large-scale commercial facilities after 2010 as research cases. Through the analysis of the results, it shows that the modern bookstore is a multi-functional and compounded space which is gradually transformed from a single bookseller to a seller of selling lifestyle proposal. And through the analysis of big data to predict the changes in market consumption, we can find out the different needs of consumers, so as to carry out the targeted design of bookstore space and then improve the value of it. In the context of the co-development of economy and culture, the transformation of modern bookstores actually conforms to the change of consumer demand and realizes a virtuous circle.

• Journal of Distribution Science
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• v.14 no.5
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• pp.115-123
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• 2016

Purpose - Nowadays the competition between companies has been intensified in the aviation industry. It is hard to maintain successful market share in challenging managerial environment. Not long ago, a Korean major aviation company had faced social condemnation cause of managerial staff's immoral behaviors. That company suffers great losses in company brand value in terms of authenticity as an aviation company. This research tried to show the effect of brand authenticity in the aviation industry. First of all, this research tried to define the dimensions of the brand authenticities based on the former researches. This research suggested the airline brand authenticities as three kinds of dimensions. The dimensions of authenticities consist of performance aspects, symbolic aspects and moral aspects. And this research also tried to show the relationships between brand authenticities and consumers attitudes. Research design, data and methodology - The empirical research design is based on the experiments with six types of advertisement prototypes. The advertisement prototypes were based on three types of authenticities' characteristics. The prototypes were made of core statements about each authenticity. And the advertisement prototypes also were based on the aviation company types. The types of aviation companies could be divided into FSC(full service carrier)and LCC(low cost carrier). So the whole experiments were performed with six kinds of advertisement prototypes(3 brand authenticities X 2 aviation company types). The age of participants were from 20s to 40s. The proportion of participants' demographics are as follow. Age proportion is 50% of 20s and 50% of 30s and 40s. Gender proportion is 46% males and 54% females. The experiments performed through mobile devices. Advertisement prototypes were exposed to the participants through their mobile devices, and they answered the questionnaires. All the process of experiments were performed by a professional research firm to maintain the quality of data. Results - This research suggested some important outcomes as follow. First, brand authenticity had an important role to make a positive consumer attitude on the aviation company. All the three types advertisement of authenticities had a positive impact on the consumer attitude for the aviation company. Second, the three types of brand authenticities in the performance aspects, symbolic aspects, and moral aspects had a major impact on the consumers attitudes. The performance authenticity had the biggest effect on the consumer attitudes. Third, the types of aviation companies like FSC and LCC had a different correlation with types of authenticities. All the types of authenticities affected on the consumers attitudes in the FSC case. The symbolic authenticity had the biggest effect in the FSC case. But the performance authenticity showed the most striking effect in the LCC case. Conclusion - From this research, we can get a conclusion. The brand authenticity of aviation company should be managed carefully to maintain a positive brand image and consumers attitudes. And airline brand authenticities can be consist of three type dimensions. All the types of authenticities affects on the consumers attitudes positively. The symbolic authenticity affects more in the FSC case, and the performance authenticity influences more in the LCC case.

• The Journal of Industrial Distribution & Business
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• v.10 no.3
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• pp.59-72
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• 2019

Purpose - Blockchain technology, which has the characteristics of credibility, security, integrity and decentralization, has brought innovation to internet platforms that mediate peer to peer transactions, as well as changes to the contents distribution services. Blockchain-based copyright distribution platforms can solve problems which have been articulated on prior internet social networks: increased market dominance of platform business because of centralization with no reward to creators who upload on platforms, and lack of fairness, such as unfair profit distribution between the copyright holder and businesses. With this background, the current research confirmed the factors that affect the intention of usage and behaviors, targeting potential users of blockchain-based copyright distribution platforms. Research design, data, and methodology - Centered around the UTAUT2 Model, the research model was designed with 'Perceived Security' added as Construct, and 'Age' and 'Knowledge Level' added as moderating variables. For data, 607 responses were collected by an online survey, and 601 responses were included in the final analysis. We analyzed the research model and sample by using SPSS 23.0 and AMOS 23.0 on the collected responses. Results - First, results of research on whether Constructs make positive effects on Intention of use is: social influence, facilitating conditions, habit, and perceived security had positive effects on intention of use, and performance expectancy, effort expectancy, hedonic motivation, and economic value did not. Second, results of the research on whether facilitating condition, habit, and intention of use made an impact on using behaviors, it was shown that only habit and intention of use made positive effects. Third, in two groups divided by age above or under 40, group effort expectancy, intention of use, habit, and intention of use had controlling effects, and facilitating condition, intention of use, perceived security, and intention of use had effects in both groups. Conclusions - The research shows that no matter how great a blockchain-based platform is, if advantages of blockchain are not proved in various industries and utilized in real life like the internet, blockchain-based distribution systems will develop slowly. Rather than a short-term inducement emphasizing technology, there is a need for a strategic approach that can foster the environment.

• Journal of the Korea Organic Resources Recycling Association
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• v.12 no.3
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• pp.86-94
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• 2004

The characteristics of food waste in our country is high contents of water and sodium chloride(NaCl). Average water contents of household garbage was 80.0%, and those of wastes of restaurants and of wholesale market of agricultural products was 76.9% and 90.0%, respectively. The NaCl contents were high in household garbage and restaurant's waste as 3.36% and 4.84%, respectively. The NaCl contents of food waste composts made by various techniques known upto now were under the level of 1% by fresh weight basis. But these techniques has some problem that is environment pollution from treated water and high equipment cost. The application to agricultural land of food waste compost that is not sufficiently removed NaCl was considered to be improper due to salt accumulation in soils and plant growth inhibition by salt stress. The purpose of this study is to decompose NaCl in food waste compost using triple salt and this method is differ from existing chemical method. Also, reaction of NaCl with triple salt produced KCl that is basic material of potassium fertilizer. The experiment results of growing lettuce produced difference between food waste compost and treated food waste compost with triple salt. The latter got more high sprouting ratio and a growth rate.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.4
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• pp.509-526
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• 2008

This paper aims to examine the evolutionary dynamics of the Korea's footwear industry by adopting evolutionary perspectives. To explain the evolutionary dynamics of an industry, evolutionary perspectives have paid a particular attention to exploring a variety of factors for influencing the evolution of the industry, such as the selection and imitation of the firm, the mechanism of firm's entry and exit, technological characteristics and innovation processes. The majority of existing research tend to explain that the decline of the Korea's footwear industry since 1990 was mostly due to the rapid rising of wage and the structural changes in labor-intensive industries. On the contrary, this paper attempts to explain the decline of the Korea's footwear industry, in terms of the path of selection and imitation, the dominant technological paradigm, regulatory frameworks and the meso trajectory of industry evolution. This paper concludes that the decline of the Korea's footwear industry since 1990 was appeared as a result of the evolutionary selection processes of the firms in order to adapt to changes in the environment of competition and the regime of market selection in the global footwear industry.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.3
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• pp.372-388
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• 2013

A series of coffee middlemen has come to be regarded as an exploitative force in the lives of small and poor coffee farmers, which is called 'coyote', controlling production, paying unfair prices for labor and goods, and participating in fraudulent practices to maximize their own profits. However, the reality of gains captured by coffee middlemen in the value chain might be exaggerated and even unfair. Therefore, the main aim of this paper is to reconsider the implication of coffee middlemen for the development of coffee value chain in Vietnam. It also attempts to identify their characteristics by investigating relations among coffee farmers, middlemen and processing/exporting firms. In terms of middlemen's margin in the coffee sub-sector, their margin is quite small when compared to other actors higher in the value chain. Rather, coffee middlemen in Vietnam have played a critical role as an intermediary of change in local economies. More specifically, coffee middlemen in Dak Lak has played a significant role as a market facilitator by stimulating the access of farmers to markets by providing buyers for farmers thanks to changes in institutional environment. Also, they have played a critical role as an agent of sustainable coffee production by encouraging sustainable coffee production in accordance with the demand of processing and exporting firms.

• Journal of Distribution Science
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• v.13 no.4
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• pp.45-53
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• 2015

Purpose - Online shopping enables consumers to conveniently purchase products irrespective of the time and place. As a result, several online shopping companies have emerged to cater to this growing market and, therefore, the competition among them has become increasingly intense. This paper evaluates the comparative efficiency of online shopping companies for a multi-year period (2009-2013), in order to help online shopping managers identify major drivers for enhancing management efficiency and the subsequent competitiveness. Research design, data, and methodology - The researchers collected the data from 2009 to 2013 from the distribution yearbook. This paper analyzes the marketability (sales figures), profitability (business profits), and management conditions (net profits) of domestic online shopping enterprises by incorporating information on human resources (number of employees) and material resources (total assets and capital). Therefore, the number of employees, total assets, and capital are selected as input variables, and sales figures, business profits, and net profits as the output variables. In this study, Data Envelopment Analysis (DEA) was used to measure the comparative efficiency of domestic online shopping companies. In addition, the Malmquist Productivity Index was used to evaluate the trend of change of Decision Making Units' (DMUs') efficiency for a multi-year period. Results - First, as of 2013, Interpark (2.415) was found to be the most efficient online shopping enterprise, followed by Aladdin Communications (2.117), Hyundai Home shopping (1.867), Home&Shopping (1.176), NS Home shopping (1.170), Commerce Planet (1.126), CJ O Shopping (1.105), Ebay Korea (1.088), and GS Home Shopping (1.051). Second, this study recognizes how the management efficiency has changed for the period 2009-2013. Third, the lesser the capital and employees, the more are the net profits, and the better is the management efficiency of domestic online shopping companies. Lastly, the productivity of such companies is influenced by endogenous factors rather than exogenous factors such as shifts in business environment and technological advances. Conclusions - DHC Korea influenced various distribution channels to reach customers through the Internet. Consequently, this helped in increasing the awareness about its products, in addition to an increase in sales. These achievements can be attributed to the characteristics of online shopping companies. Although it is easy for these companies to suggest goods for one-off purchases, they however have difficulties in retaining customers. Overcoming this challenge can be one of the ways to benchmark a successful case of an efficient company. For example, an online shopping company can attract customers by developing a corresponding mobile application as a convenient way to shop online. Additionally, they can satisfy customers by quick delivery of purchased products, which is possible by building an effective logistics network. Our study indicates that the productivity of an online shopping company was influenced by endogenous factors driven by improvements in managerial practices rather than exogenous factors. Accordingly, online shopping companies should adopt strategies to improve their operational efficiency rather than sales volume-oriented management.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.4
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• pp.13-22
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• 2018

In this study, we examined the accuracy of the assessment items for selecting start-ups used in the project to support start-ups and verified their validity in determining whether they are appropriate assessment items based on selection criteria. The results of 973 start-ups that applied for the project fostering startup leading universities were collected and logistic regression was performed using SPSS 18.0. The study results are summarized as follows. First, the differences in characteristics of start-ups were identified in terms of selection. Second, the impact of selection by assessment items was gender in 2015, capability of the founder, business establishment in 2016, performance and potential in the global market, and business startup in 2017. Third, the overall selection accuracy analysis for the last three years confirmed that the accuracy of the selection is lower each year and that the accuracy of the selection is lower than the accuracy of the non-selection. This means that the current assessment items for selecting start-ups are inaccurate for selection, and that changes in the items due to changes in the start-up environment each year have led to lower accuracy of selection. It is meaningful that this study raised the importance of assessment items and the need for improvement of assessment items for the screening functions of good start-ups to enhance efficiency of the policies for startup support.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.4
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• pp.1896-1902
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• 2013

As a concept that commercial parts are applied to weapon systems, Commercial Off-The-Shelf(COTS) was not well-received at a time when defense technology led commercial technology. However, the exponential growth of IT and the rapid expansion of commercial industry have made possible to make the cost low through mass production system within a short period, and the benefit of cost and schedule has been highlighted, triggering commercial parts to be applied to weapon systems. In order for commercial technology to be used in defense weapon systems, its performance in an extremely restricted condition of combat environment should be guaranteed. Generally, commercial parts have fundamental limitation in that the design and production requirements for commercial parts are different from those for the military. Therefore, it is required to confirm that commercial parts can be used for weapon systems through the approach of system engineering. This study presents the process tailored to characteristics of marine defense system and the method of analyzing its restricted condition in order to apply COTS to marine defense system. The study classifies the restricted conditions into general and special environments, suggests detailed process, and suggests useful tools to select appropriate items adapted to these restricted conditions in the commercial market. Lastly, as a case study for COTS applied to marine defense system, the study finds out the analysis results of application of COTS and restricted conditions of the warship electric system.