• Archives of design research
• /
• v.16 no.1
• /
• pp.251-260
• /
• 2003

The fact that office environment is a principal factor affecting work efficiency is widely accepted. Under such a circumstance, developing relocatable office wall systems is highly required. Psychological, physiological, and economical factors, along with physical factors, should be considered to develope a office wall system. More specifically, competitive price, relocatable efficiency, structural stability, fast installation, health and safety, and aesthetic satisfaction are typical determinants. The evaluation results of newly developed wall system are as below: 1) Panel structural system added with the merits of frame structural system can be studied to accomplish minimal disruption to workplace and better finish details. 2) To cover up the existing interior defects such as uneven floor and ceiling, flexible solutions must be studied especially when panel structural system is accepted. 3) More consideration must be given to finish materials, section details, sound blocking and absorbtion to enhance the satisfaction level.

• Journal of Korean Society for Geospatial Information Science
• /
• v.19 no.3
• /
• pp.127-136
• /
• 2011

The typical unit infrastructure cost estimation techniques adopted so far in implementing the Korean Impact Fee Zoning have rather been centered around the unilateral simple cost models. The techniques, as such, have frequently been criticized for their lack of flexibility in properly reflecting the regional differences as well as the peculiarities of individual development projects. The Ministry of Land, Transport, and Maritime Affairs (MLTM), in this regard, has recently introduced an enhanced alternative technique. Using the NGIS data, the study probes the viability of the MLTM's new technique by testing the entire estimation process based on the case area in Ansung City. Reflecting the City's characteristics, the study assumes a composite land use plan that accommodates the industrial area in addition to typical residential areas. As an extensive empirical case study, the research has found from the new technique considerable technical merits to overcome the existing shortcomings and summarized its significant policy implications.

• Korean Business Review
• /
• v.17 no.2
• /
• pp.25-39
• /
• 2004

This paper examines the effect of the amendment of the valuation method for unlisted stocks in the inheritance tax law. There were many criticisms on the valuation method of the inheritance tax law because the method is not effective in the respect of the fairness in taxation. The method in the inheritance tax law was amended four times since the year 1991. This research focused on whether these amendments increased the impartiality in taxation or not. The finding of the empirical test indicates that as the valuation method were amended, the stock prices calculated by the valuation method were closer to the real stock price. On this ground, I could conclude that the amendments were effective in decreasing the partiality in taxation. In spite of the result, considering the cycle of stock market, I found that the problem of unlisted stock valuation in the inheritance tax law. The law lacks flexibility and elasticity.

• Journal of the Korea Fashion and Costume Design Association
• /
• v.23 no.2
• /
• pp.165-176
• /
• 2021

To solve environmental problems, research and efforts are required to reduce leather waste that is generated in large quantities during the leather manufacturing process. Leatherboard is a plate-like material that is made by crushing leather waste, such as trimming or shaving scraps and mixing fibers, pulp, rubber, and adhesives. The aim of this study is to provide basic data on the localization of leatherboard manufacturing technology for outsoles, which are increasingly in demand due to their excellent performance and price competitiveness. Interviews with experts and related organizations were conducted to investigate the related global technology trends. Also, the performance of three products that can be used as reference materials were evaluated and compared. As part of the research and efforts to reduce the amount of leather waste generated, high-performance materials using leather waste were developed and commercialized by major western companies. In Korea, various efforts have been made since 2000, and some companies have produced leatherboard for interior uses. However, the amount of waste recycled relative to that generated is not large due to the limited demand. Natural leather soles perform better than leatherboard soles in all evaluation aspects. In the case of leatherboard, performance varied by manufacturer. German products showed flexibility resistance and dimensional stability, thereby meeting performance requirements. However, abrasion resistance and cleavage resistance were slightly below the required performance standards, and research and development is needed to improve performance in those areas. Currently, it is impossible to evaluate the performance of domestic products due to underdevelopment. However, if the development of process technology continues based on the performance evaluation results of the best leatherboard in the shoe industry, materials for outsoles will be able to be produced domestically with prices competitiveness while realizing natural leather materials performance to some extent.

• Journal of Distribution Research
• /
• v.15 no.3
• /
• pp.1-34
• /
• 2010

Introduction The purpose of this research is to develop overall model which involves the effect of ongoing support services by franchisor on franchisee's relationship quality(trust, satisfaction, and commitment) and business performance(financial and non-financial performance), and to investigate the relationships among trust, satisfaction, commitment, financial and non-financial performance. This study also suggests franchise business or franchise system should be based on long-term orientation between franchisor and franchisee rather than short-term orientation, or transactional relationship, and proposes the most effective way of providing on-going support services by franchisor with franchisee thru symbiotic relationship among franchisor and franchisee Research Model and Hypothesis The research model as Figure 1 shows the variables on-going support services which affect the relationship quality between franchisor and franchisee such as trust, satisfaction, and commitment, and also analyze the effects of relationship quality on business performance including financial and non-financial performance We established 12 hypotheses to test as follows; Relationship between on-going support services and trust H1: On-going support services factors (product category & price, logistics service, promotion, information providing & problem solving capability, supervisor's support, and education & training support) have positive effect on franchisee's trust. Relationship between on-going support services and satisfaction H2: On-going support services factors (product category & price, logistics service, promotion, information providing & problem solving capability, supervisor's support, and education & training support) have positive effect on franchisee's satisfaction. Relationship between on-going support services and commitment H3: On-going support services factors (product category & price, logistics service, promotion, information providing & problem solving capability, supervisor's support, and education & training support) have positive effect on franchisee's commitment. Relationship among relationship quality: trust, satisfaction, and commitment H4: Franchisee's trust has positive effect on franchisee's satisfaction. H5: Franchisee's trust has positive effect on franchisee's commitment. H6: Franchisee's satisfaction has positive effect on franchisee's commitment. Relationship between relationship quality and business performance H7: Franchisee's trust has positive effect on franchisee's financial performance. H8: Franchisee's trust has positive effect on franchisee's non-financial performance. H9: Franchisee's satisfaction has positive effect on franchisee's financial performance. H10: Franchisee's satisfaction has positive effect on franchisee's non-financial performance. H11: Franchisee's commitment has positive effect on franchisee's financial performance. H12: Franchisee's commitment has positive effect on franchisee's non-financial performance. Method The on-going support services were defined as an organized system of continuous supporting services by franchisor for the purpose of satisfying the expectation of franchisee based on long-term orientation and classified into six constructs such as product category & price, logistics service, promotion, providing information & problem solving capability, supervisor's support, and education & training support. The six constructs were measured agreement using a 7-point Likert-type scale (1 = strongly disagree to 7 = strongly agree)as follows. The product category & price was measured by four items: menu variety, price of food material provided by franchisor, and support for developing new menu. The logistics service was measured by six items: distribution system of franchisor, return policy for provided food materials, timeliness, inventory control level of franchisor, accuracy of order, and flexibility of emergency order. The promotion was measured by five items: differentiated promotion activities, brand image of franchisor, promotion effect such as customer increase, long-term plan of promotion, and micro-marketing concept in promotion. The providing information & problem solving capability was measured by information providing of new products, information of competitors, information of cost reduction, and efforts for solving problems in franchisee's operations. The supervisor's support was measured by supervisor operations, frequency of visiting franchisee, support by data analysis, processing the suggestions by franchisee, diagnosis and solutions for the franchisee's operations, and support for increasing sales in franchisee. Finally, the of education & training support was measured by recipe training by specialist, service training for store people, systemized training program, and tax & human resources support services. Analysis and results The data were analyzed using Amos. Figure 2 and Table 1 present the result of the structural equation model. Implications The results of this research are as follows: Firstly, the factors of product category, information providing and problem solving capacity influence only franchisee's satisfaction and commitment. Secondly, logistic services and supervising factors influence only trust and satisfaction. Thirdly, continuing education and training factors influence only franchisee's trust and commitment. Fourthly, sales promotion factor influences all the relationship quality representing trust, satisfaction, and commitment. Fifthly, regarding relationship among relationship quality, trust positively influences satisfaction, however, does not directly influence commitment, but satisfaction positively affects commitment. Therefore, satisfaction plays a mediating role between trust and commitment. Sixthly, trust positively influence only financial performance, and satisfaction and commitment influence positively both financial and non-financial performance.

• Environmental and Resource Economics Review
• /
• v.13 no.4
• /
• pp.735-761
• /
• 2004

As a possible alternative to Traditional Discounted Cash Flow Method, "Option Pricing Model" has drawn academic attentions for the last a few decades. However, it has failed to replace traditional DCF method practically due to its mathematical complexity. This paper introduces an option pricing valuation model specifically adjusted for the natural resource development projects. We add market information and industry-specific features into the model so that the model remains objective as well as realistic after the adjustment. The following two features of natural resource development projects take central parts in model construction; product price is a unique source of cash flow's uncertainty, and the projects have cost structure from capital-intense industry, in which initial capital cost takes most part of total cost during the projects. To improve the adaptability of Option Pricing Model specifically to the natural resource development projects, we use Two-Factor Model and Long-term Asset Model for the analysis. Although the model introduced in this paper is still simple and reflects limited reality, we expect an improvement in applicability of option pricing method for the evaluation of natural resource development projects can be made through the process taken in this paper.

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

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.3
• /
• pp.703-710
• /
• 2017

Third-generation (3G) devicesare next-generation devices that allow the use of intelligent services and applications through the Internet of Things (IoT). As the market forexisting smart devices like smartphones and tablet PCs enters the stage of stagnation, the world is now focusing on 3G devices, parts, and services. This study is intended to measure the user's benefits from the various attributes of 3G devices by applying an economic valuation method. For this purpose, the conjoint analysis method was applied, which is one of the representative valuation methods. To apply conjoint analysis, the following attributes of 3G devicesare considered: mode of use, power efficiency, life care, and price. By applying the mixed logit model, the marginal willingness-to-pay(WTP) for each attribute was derived. The results are statistically significant. Respondents showed a high preference or complete flexibility in the mode of use attribute. And they were also found to have WTP for improvements in the life care attribute. The implications and quantitative results of this study are expected to be useful for policies and strategies in the 3G device market.

• The Research Journal of the Costume Culture
• /
• v.15 no.3 s.68
• /
• pp.394-404
• /
• 2007

The purpose of the study was to analyze the difference in knitwear purchasing behaviors of female college students in the U.S., Korea, and China. It was developed questionnaire that included knitwear purchasing behavior that is fashion information sources, evaluation criteria of knitwear products, store attributes of knitwear, knitwear buying places, and purchasing experience of foreign-made knitwear. The final sample used in this study consisted of 119 female college students in U.S., 150 female college students in Korea, and 217 female college students in China. Aged from 18 to 33. ANOVA, factor analysis, Duncan's multiple range test, frequency, and percentage as analysis methods were used. The results of the study were as follows. The preference of knitwear among the respondents was shown highly. This result is due to a world-wide trend of casual clothing, and is to prove, that knitwear is that made with flexibility, drape, and stretch, is the item that is able to satisfy consumer's desires. Knitwear preference of knitwear the U.S. respondents was shown highly, and buying intention of them was also high, not only for sweaters and t-shirts but for pants, skirts, jackets, coats, and dresses as well. Knitwear information the U.S. respondents considered important, was not only purchasing experience but also shop display and magazine advertisements. By evaluating criteria of knitwear, the U.S. respondents considered good fit, design, color, and comfort important, and they didn't consider the country of origin important. By store attributes of knitwear, the U.S. respondents specially considered the display, variety, price level, and sale frequency of merchandise. The respondents of China was shown higher than them of Korea in the intention of all items. Knitwear information the China respondents considered important, was not only purchasing experience but also shop advertisements of Newspaper and magazine and fashion articles in Newspaper and magazine. By evaluating criteria of knitwear, the China respondents considered good fit, design, color, and comfort important, and they considered fiber content and the country of origin higher than the respondents of U.S. By Store attributes of knitwear, the China respondents specially considered product knowledge and friendliness of sales personnel, Layaway payment plan, Brand names, New Fashion, and Dressing Facilities higher than the respondents of U.S. or Korea.

• Management & Information Systems Review
• /
• v.39 no.3
• /
• pp.17-35
• /
• 2020

The purpose of this study is to develop business models for current situational scenarios reflecting customer needs emphasize the need for implementing a logistics cooperation system by analyzing big data to strengthen SCM competitiveness capacities. For healthcare SCM competitiveness needed for the logistics cooperation usage intent, they were divided into product quality, price leadership, hand-over speed, and process flexibility for examination. The wordcloud results that analyzed major considerations to realize work efficiency between medical institutes, words like unexpected situations, information sharing, delivery, real-time, delivery, convenience, etc. were mentioned frequently. It can be analyzed as expressing the need to construct a system that can immediately respond to emergency situations on the weekends. Furthermore, in addition to pursuing communication and convenience, the importance of real-time information sharing that can share to the efficiency of inventory management were evident. Accordingly, it is judged that it is necessary to aim for a business model that can enhance visibility of the logistics pipeline in real-time using big data analysis on site. By analyzing the effects of the adaptability of a supply chain network for healthcare SCM competitiveness, it was revealed that obtaining competitive capacities is possible through the implementation of logistics cooperation. Stronger partnerships such as logistics cooperation will lead to SCM competitive capacities. It will be necessary to strengthen SCM competitiveness by searching for a strategic approach among companies in a direction that can promote mutual partnerships among companies using the joint logistics system of medical institutes. In particular, it will be necessary to search for ways to utilize HCSM through big data analysis according to the construction of a logistics cooperation system.