• 유통과학연구
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• 제16권2호
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• International Journal of Reliability and Applications
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• 제2권3호
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• pp.161-187
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• 2001

Starting with the meaning of the word quality, diverse concepts connoted by the term are examined. Instead of a bathtub curve, the desirable shape of a failure rate covering the entire life of a good product, which might be called hockey-stick line, is introduced. From the hockey-stick line and the definition of reliability, two measurements are extracted. The terms reliability, failure rate, product life, and durability are explained. From the customer's standpoint, the concept of product quality is classified in five factors, according to related technology: performance, reliability, conformance to specifications, customer perception, and fundamentals advantage. The correlation of the five factors for a first-class product is discussed, Since the market share of a company is determined as the competition result of its product value, defined as product quality and price, the market share increase is derived mathematically from the increment of product value. The market share increase, $\Delta$S, can be calculated from the present market share, S, and the oriented relative value increment of new product, R, to the current product in the same company for the same market target: $\Delta$S : $\Delta$(1-S). R/(1+S.R). Finally, the importance of separating warranty cost from the profit equation for the durables is explained.

• 한국시스템다이내믹스연구
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• 제7권2호
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• pp.57-80
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• 2006

Nuclear technology made a great contribution to the national economy and society by localization of nuclear power plant design, and by stabilization of electricity price, etc. It is very important to conduct the retrospective analysis for the nuclear technology contribution to the national economy and society, but it is more important to conduct prospective analysis for the nuclear technology contribution. The term "technology value" is often used in the prospective analysis to value the result of technology development. There are various definitions of technology value, but generally it means the increment of future revenue or the reduction of future cost by technology development. These technology valuation methods are widely used in various fields (information technology or energy technology, etc). The main objective of this research is to develop valuation methodology that represents unique characteristics of nuclear power technology. The valuation methodology that incorporates market share changes of generation technologies was developed. The technology valuation model which consists of five modules (electricity demand forecast module, technology development module, market share module, electricity generation module, total cost module) to incorporate market share changes of generation technologies was developed. The nuclear power technology value assessed by this technology valuation model was 3 times more than the value assessed by the conventional method. So it was confirmed that it is very important to incorporates market share changes of generation technologies. The valuation results of nuclear power technology in this study can be used as policy data for ensuring the benefits of nuclear power R&D (Research and Development) investment.

• 한국병원경영학회지
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• 제23권1호
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• pp.41-50
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• 2018

The purpose of this research is to evaluate Brand Value by using the K-BPI(Korea Brand Power Index) of Korea Management Association which is based on consumer awareness, as well as to identify how Brand Value which is composed of top of awareness, unaided awareness, aided awareness, image, possibility of purchasing, preference, affects on the Market Share perceived by consumers. This research subjects were 10 hospitals with more than 1,000 beds in Seoul and Gyeonggi-do, and survey subjects were 20 or older adults living in the metropolitan area of Korea. Using K-BPI for measuring Brand Value and used calculation of Market Share according to consumer preference model for measuring Market Share. The major results of this research are as follows: First, this research identified that the top 5 hospitals of largest hospitals in metropolitan area measured by using K-BPI and Market Share were same hospitals as Big 4 hospitals of previous research evaluating the comprehensive competitiveness of hospitals and also same as hospitals that appeared recently. Second, Big 5 hospitals ranked first to fifth in both Brand Value and Market Share. To identify the relationship between K-BPI items(top of awareness, unaided awareness, aided awareness, image, availability, preference) and Market Share, multiple linear regression was used by dividing 5 upper and 5 lower group of hospitals per each. The group of 5 upper hospitals had a significant effect on Market Share, with 'top of awareness', 'unaided awareness', 'aided awareness'. The group of 5 lower hospitals had a significant effect on Market Share with 'unaided awareness', 'aided awareness'. The results of this study and hospitals of the first to third hospitals published in the K-BPI press release reported by KMAC in 2017, and the previous studies evaluating the comprehensive competitiveness hospitals, all had one thing in common that Big 4 hospitals ranked high position. This suggests that evaluation of Brand Value also can be a evaluation measure of hospital. A new competitiveness of hospital is expected by managing brand awareness to have a brand competitiveness and by securing intrinsic Market Share of consumer to reach hospital use ultimately.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.387-399
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• 2021

This study mainly aims to examine the effect of intangible assets on the value relevance of the Gulf Cooperation Council (GCC)-listed non-financial firms. This study tested three types of models by using a large sample of non-financial firms listed in GCC countries as emerging markets from 2008 to 2016. The types of models are accounting information (earnings per share and book value of share) without intangible assets model, intangible assets model, and accounting information (earnings per share and book value of share) with intangible assets model. Ordinary least square (OLS) shows mixed results as intangible assets improve the value relevance of accounting information positively in UAE and negatively in Kuwait but not in other countries. The study documents a robust positive relationship between intangible assets and earnings quality in terms of value relevance in KSA and Qatar. The findings provide implications for policymakers, investors, and managers. The results suggest that intangible assets can improve the value relevance in emerging markets, such as GCC, as the need to organize the requirements of information disclosures on intangible assets and provide great transparency and additional disclosure of information about intangible assets and their components.

• Kyungpook Mathematical Journal
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• 제47권3호
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• pp.439-448
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• 2007

In the paper, we use the theory of normal family to study the problem on entire function that share a finite non-zero value with their derivatives and prove a uniqueness theorem which improve the result of J.P. Wang and H.X. Yi.

• 통상정보연구
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• 제11권1호
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• pp.139-155
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• 2009

This study investigates empirically the export competitiveness of Korea and Japan in America by calculating 4 indexes such as market share index(MSI), export similarity index(ESI), market comparative adventage index(MCAI) and market share expansion ratio(MSER)-export similarity deepening ratio(ESDR). The empirical finding of this analysis shows that Korea is competitive in the labor-intensive products and Japan in the technology-intensive products. This result also meets the general understandings that Japan is superior to Korea in the export competitiveness such as value added of goods, etc. Therefore, in order to strengthen the export competitiveness of Korea in the US market, it's desirable for our firms and government to improve the quality of product ranges by developing technologies focused on the higher value-added products.

• 유통과학연구
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• 제13권8호
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• pp.5-14
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• 2015

Purpose - This study undertakes to examine the automotive trade structure between Korea and Russia to accelerate economic cooperation and pinpoint trade discrepancies to increase trade volume through improved policies, eventually finding ways for trade expansion. Research design, data, and methodology - To analyze trade decision factors for both countries, the Index of trade specialization invented by trade specialization theory, is used. Although specific factors should materialize in the trade decision analysis, realistically, concrete explanations are difficult as many unsolved factors are involved as well as their complexities Results - First, to assess comparative market competitiveness, the Index describes A value/B value, representing the Korean versus the Russia market share and the Korean market share versus the world. Second, the index shows that Korea is taking comparative advantage of its export specialization. Third, the RCA indices show considerable improvement compared to 2000. Conclusions - This research used a quantitative approach to examine trade specialization and examined a comparative advantage index of market share to see how inter-trade relations have changed over the past 10 years.

• 대한교통학회:학술대회논문집
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• 대한교통학회 2003년도 제43회 학술발표회논문집
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• pp.127-150
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• 2003

This research presents a novel application of static traffic assignment methods, but with a variable time value, for estimating the market share of a high-speed rail (HSR) in the NW-SE corridor of Korea which is currently served by the airline (AR), conventional rail (CR), and highway (HWY) modes. The proposed model employs the time-space network structure to capture the interrelations among all competing transportation modes, and to reflect their supply- and demand-sides constraints as well as interactions through properly formulated link-node structures. The embedded cost function for each network link offers the flexibility for incorporating all associated factors, such as travel time and fare, in the model computation, and enables the use of a distribution rather than a constant to represent the time-value variation among all transportation mode users. To realistically capture the tripmakers' value-of-time (VOT) along the target area, a novel method for VOT calibration has been developed with aggregate demand information and key system performance data from the target area. Under the assumption that intercity tripmakers often have nearly "perfect" travel information, one can solve the market share of each mode after operations of HSR for each O-D pair under the time-dependent demand with state-of-the-art traffic assignment. Aside from estimating new market share, this paper also investigated the impacts of HSR on other existing transportation modes.

• 융합경영연구
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• 제4권3호
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• pp.1-6
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• 2016

The purpose of the present study is to investigate the relationship between Managerial overconfidence and vehicle and parts manufacturing firm value of the listed companies on the Tehran Stock Exchange (TSE). The population includes 25 firms selected through systematic sampling. The data is collected from the audited financial statements of the firms provided by TSE's website from 2010 to 2015. In this study the variables, Overconfidence based on earning per share (OEPS), Overconfidence based on capital cost (OCC) has been used to investigate Managerial overconfidence. The results of multiple linear regression analysis show that there is a significant relationship between Overconfidence based on earning per share (OEPS) and firm value. In addition, there is a significant relationship between Overconfidence based on capital cost (OCC) The present research examined the relationship between Managerial overconfidence and vehicle and parts manufacturing firm value of the listed in Tehran Stock Exchange. The results of multivariate regression accepted two the hypotheses of the research. There is a significant relationship between Managerial overconfidence and vehicle and parts manufacturing firm value.