• 아태비즈니스연구
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• 제13권3호
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• pp.73-92
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• 2022

Purpose - The purpose of this paper is to explore the relationship between corporate social responsibility (CSR) and corporate present and future value. Design/methodology/approach - This paper intends to prove the relationship between CSR and corporate value once again by selecting A-share companies listed on the China Shenzhen Stock Exchange and Shanghai Stock Exchange from 2010 2017. This paper also examines the effect of five dimensions of CSR on corporate value in China. Findings - Empirical evidence shows that CSR is conducive to corporate value. The fulfillment of social responsibilities improves firm value in the future. Further, the regression results show that the social responsibility of the non-state-owned enterprise (Non-SOEs) group has a more significant effect on corporate financial performance than on the state-owned enterprise (SOEs) group. Research implications or Originality - This study has limitations. First, the grouping is only divided into two groups of SOEs and non-SOEs, and we did not consider foreign investments, that is, foreign-funded enterprises, for the comparative analysis. Second, only the linear relationship between CSR and corporate value was tested. In the future, we must determine whether there exists a nonlinear relationship between the two key concepts. Finally, there exists no research on CSR and corporate value by specific industries. Thus, the relationship between the five dimensions of CSR and corporate value should be investigated by specific industries.

• Journal of Information Technology Applications and Management
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• 제15권4호
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• pp.221-245
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• 2008

Recently, mobile internet technologies are enabling the possibility of radically new computing services which can share information and communicate with others on the move. In this situation, prior studies have attempted to identify of what factors make people use mobile internet. However, prior researches focused on investigating the factors affecting users' adoption to Mobile Internet. In order to offer beneficial materials to mobile internet companies, we investigated important factors to increase mobile users' value from the viewpoints of customer. In particular, this study was progressed how characteristics of mobile contents affect users' intrinsic attributes and how perceived users' network effects affect users' value in the mobile computing environments. To empirically test proposed hypotheses, we have analyzed 285 survey data gathering from mobile internet users and verified hypotheses by using SEM (structural equation modeling). Based on the results of this study, we found that content accessibility and content quality have significant impacts on users' intrinsic attributes such as perceived usefulness and perceived enjoyment. In addition, this study also revealed that perceived usefulness and perceived enjoyment were positively related to users' emotional value. Moreover, this study found that perceived users' network effects could affect users' monetary value by mediating expected benefits. Based on our findings, we can understand that this perspective can provide a deeper understanding of the mobile users' value adoption by bridging the gap between mobile internet studies and actual practice.

• 아태비즈니스연구
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• 제15권2호
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• pp.181-205
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• 2024

Purpose - This study aims to examine the direct impact of corporate social responsibility initiatives on firm technological innovation and the moderating effect on the relationship between firm technological innovation and corporate value. Design/methodology/approach - This study collected 13,298 firm-year data by selecting A-share companies listed on the China Shenzhen Stock Exchange and Shanghai Stock Exchange from 2010-2017. This study runs the multivariate regression using random effect generalized least squares (GLS) regression model. Findings - The research results of this study are as follows. First, corporate social responsibility initiatives do not increase the firm technological innovation, but rather reduce it. Second, firm technological innovation generally improves corporate value, whether it is book value or market value. Third, corporate social responsibility initiatives reduce the positive influence of firm technological innovation on corporate value. Research implications or Originality - There may be discussions on whether Chinese patent application data is a good indicator of the innovation of Chinese companies, but previous studies prove that the number of patent applications has a significant correlation with R&D expenditures or financial performance. However, there is a clear limitation in that it is not possible to confirm the result of registration after a patent application, but it is expected that such limitations can be overcome by using patent registration information or detailed citation documents in the future.

• 한국주거학회논문집
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• 제26권3호
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• pp.55-64
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• 2015

This study is conducted to understand the social value of Nakwon building, which has been instilled in the architecture of the building, through an analysis of formative elements unique to the center. The architectural characteristics of Nakwon building have been formed over a long period of time in relation with its surroundings and social change. Before looking into the formation of the center, this study investigates the street network planning of downtown. The street network was planned to expand in a north-south direction in order to accommodate a future increase of traffic volume as a result of industrialization and a population increase in downtown. This was manifested in expanding Samilro Street which passes through the lower part of Nakwon building, as well as in forming the architecture of the center. That is, the center has formed a symbiotic relationship with its surrounding areas, sharing space with them. The interior of the center seems to have an independent form while keeping a relationship with its external format, but it is seeking change internally in response to external change. Interior space has been departmentalized over time since its initial establishment, and the internal traffic has also been subdivided accordingly. This is attributable to the fact that social change in the neighboring areas affected the formation of Nakwon building, and that in turn contributed to forming the unique characteristics of the building. Nakwon building is one of the deteriorated buildings in downtown Seoul. However, it was built out of social need to share space within the city, and it has been changed according to social need for the 'distribution of space within the building.

• 기술혁신연구
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• 제20권1호
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• pp.45-73
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• 2012

본 연구는 2000년부터 2010년까지 한국거래소의 유가증권시장과 코스닥시장에 상장된 기업을 대상으로 기업의 재무적 특성변수가 R&D 투자와 기업가치간의 관계에 미치는 영향을 실증분석 하였으며, 주요한 분석결과는 다음과 같다. 기업규모는 R&D 투자와 기업가치간의 관계에 양(+)의 영향을 미친다. 이는 R&D 투자는 중소기업보다 대기업의 기업가치에 더 큰 영향을 미침을 의미한다. 기업의 잉여현금흐름은 R&D 투자와 기업가치간의 관계에 음(-)의 영향을 미친다. 이는 잉여현금흐름이 높은 기업은 순현재가치(NPV)가 음(-)인 투자안에 여유자금을 투자할 과잉투자위험이 존재한다는 Jensen(1986)의 이론을 지지한다. 기업의 시장점유율은 R&D 투자와 기업가치간의 관계에 양(+)의 영향을 미친다. 시장점유율과 R&D 투자는 상호보완적으로 작용하므로, 시장점유율이 높은 기업은 R&D 투자도 증가하여 시장가치가 증가한다. 기업의 외부금융 의존도는 R&D 투자와 기업가치간의 관계에 음(-)의 영향을 미친다. R&D 투자는 비대칭정보로 인한 역선택비용을 크게 발생시키므로, 외부금융에 의존하기보다 내부금융을 사용하는 것이 더 유리할 수 있다. 그리고 기업의 노동집약도와 자본집약도는 각각 R&D 투자와 기업가치간의 관계에 음(-)의 영향을 미치는데, 전자는 노동집약도가 높은 기업일수록 종업원들 간에 초과수익률이 희석될 가능성이 높기 때문이고, 후자는 자본집약도가 높은 기업일수록 재무적 제약에 직면할 가능성이 높기 때문이다. 결론적으로, 본 연구에서 설정한 기업의 재무적 특성변수 중에서, 기업규모와 시장점유율은 R&D 투자와 기업가치간의 관계에 양(+)의 영향을 미치지만, 잉여현금흐름, 외부금융의존도, 노동집약도 및 자본집약도는 음(-)의 영향을 미친다. 따라서 기업 경영자들은 이러한 재무적 특성변수들이 R&D 투자와 기업가치간의 관계에 미치는 영향을 올바르게 이해하여 R&D 투자를 결정함으로써 기업가치를 증가시킬 수 있다.

• 대한수학회보
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• 제46권6호
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• pp.1079-1089
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• 2009

In this paper, we shall show that for any entire function f, the function of the form $f^m(f^n$ - 1)f' has no non-zero finite Picard value for all positive integers m, n ${\in}\;{\mathbb{N}}$ possibly except for the special case m = n = 1. Furthermore, we shall also show that for any two nonconstant meromorphic functions f and g, if $f^m(f^n$-1)f' and $g^m(g^n$-1)g' share the value 1 weakly, then f $\equiv$ g provided that m and n satisfy some conditions. In particular, if f and g are entire, then the restrictions on m and n could be greatly reduced.

• 무역학회지
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• 제44권1호
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• pp.159-175
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• 2019

In China, the government has aggressively led the construction and expansion of airports across China. Upon this opportunity, "Korea-China" network is expected to expand. Therefore this study tried to deduce implications for Incheon International Airport by expansion of "Korea-China" traffic rights. As a result of analyzing the exchange values of traffic rights on the "Incheon~Beijing/Chengdu" routes, it was found that there is a concern that Chinese airlines could make inroads into Korean airline's market. In both routes, Korean airline's market share and passenger demand increased while the sales decreased after expanding traffic rights. On the other hand, Chinese airlines showed an increase in sales and a larger passenger growth than Korean airlines. Therefore it is necessary for the government to expand the traffic rights through detailed route value analysis.

• International Journal of Advanced Culture Technology
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• 제10권1호
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• pp.67-74
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• 2022

In this study, the core competencies of 7-Eleven, Japan's representative convenience store, were derived through a qualitative analysis method using VRIO (value, rarity, Imitability, and organization) framework, a management strategy model based on Resource-Based View (RBV). As a result of VRIO analysis, the value can be based on the scale that 7-Eleven ranks first in the Japanese convenience store industry in terms of the number of stores and market share that it has developed based on capital. The rarity is based on the fact that raw material procurement, the main activity of a company, is establishing the nation's largest distribution channel in the entire process, from producers to logisticians and franchisees. The difficulty for Imitability is based on a dominant strategy and has secured a competitive advantage by opening stores in a specific area, improving awareness, and raising barriers to entry. As the largest company in the convenience store industry, it is confirmed that 7-Eleven is the result of organizational power that has built stores not only in Korea but also in 16 countries around the world.

• The Journal of Asian Finance, Economics and Business
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• 제1권4호
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• pp.5-13
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• 2014

This study contributes to addressing the problem of an aging population by providing important information that determines feasible monthly payments for the clients of Chinese reverse mortgage products and by promoting the implementation of reverse mortgages in China. The variables used in this study include mean values obtained from time series data, of the rate of increase of housing prices, and the probability value, interest rate, and mortality rate obtained through the geometric Brownian motion (GBM). For mortality rates, China Life Insurance female mortality rates (2000-2003) were used. This study aims to apply the main variables that affect reverse mortgage products in a monthly payment model based on Chinese financial market conditions, and determine loan values. In this study, Shanghai's reverse mortgage monthly payments, by age levels, were calculated through the loan-to-value (LTV) and payment (PMT) methods to evaluate the value of the reverse mortgages. Based on the optimal combination of the three factors of payment amount, loan interest rates, and the level of acceptance of prices, efforts must be made to extract the best value for the elderly. Only in this way can the interests of both lenders and borrowers be protected, by increasing the market share and economies of scale of the reverse mortgage industry and effectively improving the living standards of the elderly.

• 한국산림과학회지
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• 제96권4호
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• pp.494-501
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• 2007

지리산국립공원 내 사유림이용에 있어서 이해당사자 간 갈등이 발생되고 있다. 따라서 본 연구의 목적은 지리산국립공원의 가치와 갈등에 대해 이해주체 간 인식차이를 규명하고 갈등해결을 위한 합의점을 도출할 수 있는 가능성을 찾는데 있다. 이를 위해, 국립공원의 가치와 갈등인자에 대해 요인분석을 실시하여 각각 4가지 요인으로 축약하였다. 그리고 이해주체 간 인식 차이는 t-검정과 Duncan다중검정으로 구분 비교하였다. 그 결과, 국립공원의 가치에 대한 인식은 마을주민과 산림청 지자체는 인식을 같이 하고 있었으나, 국립공원은 대립적으로 인식하고 있었다. 그리고 갈등에 대한 인식은 국립공원과 산림청 지자체가 인식을 함께하고 있었으나, 마을주민은 대립적으로 인식하고 있었다. 갈등해결을 위한 방향으로 협의체 구성과 이유에 있어서 이해주체 모두 인식을 함께 하였고, 산림이용을 위한 명확한 행위기준이 필요하며, 규제정책의 집행에 있어서 규제수단은 용도지구에 따라 차등적으로 적용할 필요가 있다고 사료된다.