• Korean Journal of Construction Engineering and Management
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• v.19 no.5
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• pp.111-120
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• 2018

Recently, Domestic public construction projects are experiencing a great deal of disputes because of the growing uncertainty about the criteria for calculating the prolongation cost. In addition, researchers have been studying various systems and proper cost estimates in an effort to reduce the uncertainty of these systems and the occurrence of disputes. However, there is no standard yet for social consensus. Meanwhile, The study on the classification system according to the recognition standard of accounting has been systematically studied. As a result, the concepts of accrual and cash basis are defined separately. The purpose of this study is to verify the possibility of applying the concept of 'accrual basis' to the Standard for calculation of prolongation cost. Therefore, As a result of analyzing the occurrence pattern of Job-site overhead cost, it is confirmed that actual costs can not be calculated by the cash-basis method. In particular, the implications of the necessity of the accrual-basis method should be more strictly indicated in the case of items such as indirect labor costs and welfare benefits. In addition, the contractor 's claim report and the appraisal report were examined. As a result, it was confirmed that the calculation situations of prolongation costs are biased to the cash-basis method. In this way, it is suggested that necessary to supplement the calculation standard of the actual costs from the point of view of accrual basis.

• Journal of the Korean Geosynthetics Society
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• v.18 no.4
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• pp.75-85
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• 2019

The lateral load from traffic depends on standard truck's axle loads and locations, loading distance from the inner wall. The method of limit state design has been adopted and used for design of roads in the Republic of Korea since 2015. The concept of equivalent height of soil accounting for traffic loading is often used for design of retaining walls to quantify the traffic loads transmitted to the inner wall faces. Due to the different characteristics of the standard design trucks between Korea and US (AASHTO), the direct use of the guidelines from AASHTO LRFD leads to incorrect estimation of traffic load effects on retaining walls. This paper presents the results of evaluation of equivalent height of soil to reflect the standard truck of the nation, based on the findings from analytical solutions using 3D finite element method. Compare to US, the standard truck loading has a structure where the axle load is concentrated so that the equivalent load height is estimated to be slightly larger than AASHTO for lower retaining wall height. It would be reasonable to present the equivalent load height in Korea more conservatively than AASHTO in terms of securing long term stability of the retaining wall structure.

• Management & Information Systems Review
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• v.35 no.1
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• pp.51-68
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• 2016

In this paper, we aim to analyze the effect of accounting policy change subsequent to the adoption of K-IFRS in Korea, whereby the firms are required to recognize impairment losses on goodwill on a periodic basis rather than to amortize over a specific period. As a principle-based accounting standard, the K-IFRS expands the scope of fair value measurement with a view to enhance the relevance and timeliness of accounting information. In the same vein, intangibles with indefinite useful life, of which goodwill is an example, are subject to regulatory impairment tests at least once a year. Related literature on the impact of mandatory change in goodwill policy document that impairment recognition is more likely to be practiced opportunistically, mainly because managers have a greater discretion to conduct the tests under K-IFRS. However, existing literature examined the frequency and/or magnitude of the goodwill impairment before versus after the K-IFRS adoption, failing to notice the impairment symptoms at individual firm level. Borrowing the definition of impairment symptoms suggested by Ramanna and Watts(2012), this study performs a series of tests to determine whether the goodwill impairment recognition achieves the goal of communicating timelier information under the K-IFRS regime. Using 947 firm-year observations from domestic companies listed in KRX and KOSDAQ markets from 2008 to 2011, we document overall delays in recognizing impairment losses on goodwill after the adoption of K-IFRS relative to prior period, based on logistic and OLS regression analyses. The results are qualitatively similar in robustness tests, which use alternative proxy for goodwill impairment symptom. Afore-mentioned results indicate that managers are likely to take advantage of the increased discretion to recognize the impairment losses on goodwill rather than to provide timelier information on impairment, inconsistent with the goal of regulatory authority, which is in line with the improvement of timeliness and relevance of accounting information in conjunction with the full implementation of K-IFRS. This study contributes to the extant literature on goodwill impairment from a methodological viewpoint. We believe that the method employed in this paper potentially diminishes the bias inherent in researches relying on ex post impairment recognition, by conducting tests based on ex ante impairment symptoms, which allows direct examination of the timeliness changes between before and after K-IFRS adoption.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.129-138
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• 2014

After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

• Korean Journal of Radiology
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• v.23 no.9
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• pp.901-910
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• 2022

Objective: This study aimed to assess the technical feasibility, efficacy, and safety of the safe triangular working zone (STWZ) approach applied in percutaneous vertebroplasty (PV) for spinal metastases involving the posterior part of the vertebral body. Materials and Methods: We prospectively enrolled 87 patients who underwent PV for spinal metastasis involving the posterior part of the vertebral body, with or without the STWZ approach, from January 2019 to April 2022. Forty-nine patients (27 females and 22 males; mean age ± standard deviation [SD], 57.2 ± 11.6 years; age range, 31-76 years) were included in group A (with STWZ approach), accounting for 54 vertebrae. Thirty-eight patients (18 females and 20 males; 59.1 ± 10.9 years; 29-81 years) were included in group B (without STWZ approach), accounting for 57 vertebrae. Patient demographics, procedure-related variables, and pain relief as assessed using the visual analog scale (VAS) were collected at different time points. Tumor recurrence in the vertebrae after PV was analyzed using Kaplan-Meier curves. Results: The STWZ approach was successful from T1 to L5 without severe complications. Cement filling was satisfactory in 47/54 (87.0%) and 25/57 (43.9%) vertebrae in groups A and B, respectively (p < 0.001). Cement leakage was not significantly different between groups A and B (p = 1.000). Mean VAS score ± SD before and 1 week and 1, 3, 6, 9, and 12 months after PV were 7.6 ± 1.8, 4.2 ± 2.0, 2.7 ± 1.9, 1.9 ± 1.5, 1.7 ± 1.4, 1.7 ± 1.1, and 1.6 ± 1.3, respectively, in group A and 7.2 ± 1.7, 4.0 ± 1.3, 3.4 ± 1.6, 2.4 ± 1.2, 1.8 ± 1.0, 1.4 ± 0.5, and 1.7 ± 0.9, respectively, in group B. Kaplan-Meier analysis showed a lower tumor recurrence rate in group A than in group B (p = 0.001). Conclusion: The STWZ approach may represent a new, safe, alternative/auxiliary approach to target the posterior part of the vertebral body in the PV for spinal metastases.

• Journal of the korean academy of Pediatric Dentistry
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• v.48 no.3
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• pp.313-323
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• 2021

The purpose of this study was to investigate trends in dental sedation of Korean children and adolescents. A retrospective study was conducted on patients under 20 years of age who received dental treatment under sedation using National Health Insurance Service-National Sample Cohort Database from 2002 to 2015. Based on the 1 million standard data, there were 436 cases of dental treatment under sedation in 2002, but 4002 cases in 2015, showing a trend increasing every year. The 3 - 5 year old group accounted for the largest portion (54.2%), while the 6 - 8 year old group increased recently. Nitrous oxide inhalation sedation is the most commonly used, accounting for 45.9% in 2002, but increased to 89.5% in 2015. Combination of nitrous oxide inhalation sedation, chloralhydrate and hydroxyzine was the most common, accounting for 5.7% in 2002, but decreased to 2.9% in 2015. There is a trend to use the sedation method more safely and in a way that reduces side effects.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.7 no.6
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• pp.1364-1370
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• 2006

Recently, Adopting Accounting Information Systems(AIS) has spread rapidly for efficient and rational making decision in the business organization. There are many types of AIS. These are from simple package to integrated packages which are including HR, Product, Sales and Distribute. In case of big enterprises, ERP systems have been implemented and attention is now being directed as to AIS module. AIS module is not easy to change its form, therefore this module need to be considered enough when it comes to the corporations. However there we few standard fer this module as a successful information systems. This study analyze critical factors of certain companies when the companies were implementing AIS and based on this analysis, this study suggest a framework for successful implementation of AIS Using Case Study. 42 AIS adopted companies are surveyed and their factors' correlations are analyzed by mean analysis and factor analysis in this study. As a result of this study, when a company adopt AIS, criteria or particularities for the adoption are more important than environment of the company. Thus, it is significant to empirically prove previous studies' factors relation and importance relations for successful AIS implementation through empirical method in this study.

• Communications for Statistical Applications and Methods
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• v.18 no.5
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• pp.581-594
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• 2011

The traditional method of 3+3 standard design and model-based Bayesian continual reassessment method (CRM) are commonly used in Phase I clinical trials to identify the maximal tolerated dose(MTD) of a new drug. In this paper we review clinical examples of Phase I trials that were carried out in patients with refractory or relapsed leukemia and myelodysplastic syndrome. The recently proposed 3+1+1 design and rolling-6 design can shorten the trial duration, when a very slow accrual of patients with a simple 3+3 standard design may result in the untimely termination of trials. Too conservative approaches in determining the dose levels in Phase I clinical trials can leave clinical investigators unable to accurately determine the MTD. When determining future patient doses, the designs that use a time-to-event CRM can cooperate late toxicities by accounting for the proportion of the observation period of each enrolled patient. With the CRM design, simulations under different scenarios during the trial are important in detecting the under- or over-estimation of the initial estimate of the dose-limiting toxicity rate for each dose level. We present the advantages and drawbacks of the designs used in Phase I clinical trials for leukemia patients.

• The Journal of Small Business Innovation
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• v.20 no.3
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• pp.1-17
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• 2017

There is a serious information asymmetry between internal managers and outside investors in the process during IPOs. One mechanism that mitigates this information asymmetry is a high quality auditor. Since prior research document auditors' effect on newly listed firms at the IPO year, what has not yet been revealed in previous studies is the behavior of firms and auditors after listing. In this study, we investigate (i) the firms tendency of contracting with Big N auditors, and (ii) the effect of Big N auditors on accounting quality after the years of IPOs. Using a sample of 7,678 (1,892 firm-years of after IPOs, and 5,786 control firm-years) KOSDAQ observations between 2002 and 2012, we find that the likelihood of contracting with Big N auditor lasts only for two years after IPO compare to that of non-IPO control years. Secondly, we find that the effect of Big N auditors on clients' earnings management lasts for a very short period after IPO. These findings suggest that although prior literature argue that Big N auditors reduce earnings management of their clients, at least the period right after IPO, it is not consistent. Our study contributes to the existing literature in several ways. First, we provide new evidences of firms' auditor selection decisions by investigating years after the listing. In second, as an evidence of accruals reversal, we document decrease in discretionary accruals after IPOs. Third, we find that there is not always a positive relation between Big N auditor and accounting quality by showing the insignificant Big N auditor effect after IPOs. Our results also suggest several implications to IPO related stakeholders. First, to IPO firms, we provide evidences that decisions of hiring auditors affect firms earnings. Also, lead IPO underwriters may consider how these decisions influence future performance. Second, investors may want to use information not only in the preofferings but also after public offerings. Our study insists that auditor hiring decisions affects their own welfare. Finally, accounting standard setters may find these results useful for evaluating how much discretion they should allow corporate managers to hire auditors. In addition, our result casts doubt on auditor designation.

• The Korean Journal of Franchise Management
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• v.10 no.4
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• pp.7-18
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• 2019

Purpose: This study identifies the relative importance of the sub - factors of initial services and continuous services using AHP (Analytic Hierarchy Process) method, and calculates the competitive index for the detailed factors. The purpose of this paper is to propose the establishment of long - term and short - term management strategy for expansion of business of food service franchise, franchisors, long - term and win - win relationship with franchisees, and rationalization of operating system. Research design, data, and methodology: The population for the survey is 92 franchisees in 46 foreign brands and 46 domestic brands in the Seoul metropolitan area (Seoul / Gyeonggi / Incheon). The survey was conducted from July 1 to August 31, 2018 through the survey agency with a telephone interview and a surveyor's direct visit. A total of 100 questionnaires were collected, but a total of 92 parts were used for analysis except 8 parts that were considered to contain false information. Using the AHP method, relative importance and competitiveness index were calculated for the details of initial services and continuous services. Results: The results shows continuous services were significantly higher for both foreign brand franchises, domestic brand franchises, and overall than initial services, This suggests that the continuous services of the affiliated franchisors has a higher relative importance than the initial services. Among the continuous services, brand reinforcement and promotion were significantly higher for both foreign brand merchants and domestic brand franchises. This can be regarded as the most important factor in brand reinforcement and promotion when selecting a food service franchisors. Conclusions: In the Standard Terms and Conditions governed by the Fair Trade Commission, the franchisors should increase the fairness by creating manuals for supporting services, especially after opening, and regularly checking whether the supporting services have been carried out like manuals since the establishment of franchisees. In addition, the Brand Strengthening and Public Relations Committee (tentative name) jointly participated by the franchisors and franchisees for the purpose of strengthening and promoting the brand, suggesting a system for transparent and efficient execution of the brand reinforcement and promotion budget and monitoring afterwards.