• Journal of the Korea Convergence Society
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• v.9 no.5
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• pp.171-177
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• 2018

The objective of this study is to investigate the effect of unrelated diversification on earnings management, and then to analyze the moderating effect of Audit Committee on the relationship. The sample of this paper consists of 206 firms and 1,924 firm-year data listed on Korea Exchange from 2000 to 2009. The results are as follows. First, unrelated diversification is positively associated with earnings management. Second, there are the moderating effects of Audit Committee establishment and independence on the relevance between Unrelated-diversification and earnings management. These findings imply that it is important to strengthen the effectiveness of Audit Committee in unrelated diversification firm.

• Journal of the Economic Geographical Society of Korea
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• v.25 no.3
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• pp.357-379
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• 2022

This study diagnoses the industrial varieties and innovation capacity of the Korean regional economy and discusses how the priority for autonomous regional development can be set. Since the late 1990s, regional development policies in Korea have been attempted from various angles to reduce the economic gap between the metropolitan area and non-metropolitan areas, but the establishment of a development strategy in consideration of regional industrial characteristics and innovation capabilities has been insufficient. With the advancement and diversification of technologies and industries, regions must seek strategic diversification to prepare for economic shocks, away from strategies that specialize in specific industries. In this study, industrial varieties in regional basis is characterized using unrelated and related varieties. Variety indices show different patterns between the metropolitan area and non-metropolitan areas and between manufacturing and service sectors, which raises the need to consider industrial characteristics in regional development. Lastly, using the variety index and the innovation capacity index as two dimensions, the regional economic status at the municipal level is categorized into four types, and proper regional development policy priorities are suggested for each type.

• Korean journal of communication and information
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• v.43
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• pp.173-208
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• 2008

This study analyses the business performance according to the business diversification of Korean mass media enterprises from year 2003 to 2006. The conclusions drawn which could be divided into five main parts are the followings: First, newspaper companies pursue unrelated diversification in various industrial areas, in order to gain maximum profit while broadcasting companies exert themselves to provide better service by diversifying the major contents. Second, overall the interviewed companies display a constant decline in profit gained from their major business area thus establishing strategies to broaden their focus on diversification of any sort. Third, the researcher completed group analysis in regard of diversification measure resulting in division of three groups. The group which had the most immense diversification range gained the highest ROE, the lowest ROE volatility, and lesser probability of risk taking. The analysis adresses the companies broadening their business areas by researching and focusing on diversification are relatively stable in terms of the profit they gain. Fourth, the middle level group in terms of sales scale, debts, enterprise history, major share rate and high ROE group carry out diversification progressively. The sales scale affects positively to diversification, while the major share rate affects negatively to diversification. Fifth, in accordance to the research, diversification overall contributes to obtainance of successful outcome. Since there was not an immense amount of studies to be referred in the media area, the researcher interviewed and did panel discussion with numerous strategists and managers who are in charge of diversification of media companies. However, collection of only 4 years of data limits the research to be considered to be a generalized study, and does not reflect time gap between business diversification and business performance. Development is required in future studies to be established regarding the media companies' specificity different to other industries, classified the media companies into media types, and consider the time gap in the diversification activities and business performance.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.128-138
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• 2005

The success of mergers and acquisitions(M&A) have been evaluated by either measuring ex ante expectations for the specified time period(Window) or assessing long term-based post operating performance (ex post operating performance). In this study, utilizing cumulative abnormal return(CAR) method, M&As which are observed in both domestic and U.S. construction industries were analyzed then research outcomes are compared. Analysis results indicate that stockholders of public construction companies did not realize significant economic gains from M&As. In other words, there was no synergistic gains from the construction M&As. Also, no significant performance difference was observed between related and unrelated diversifications.

• Korean Management Science Review
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• v.32 no.2
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• pp.91-109
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• 2015

The M&A of firms has been emerged as the effective means of fast diversification and growth in dynamic environment. However, the empirical research about M&A in Korea has not been implemented rich due to the difficulty of obtaining M&A data. In this research, we empirically investigate the relationships among M&A, environment and firms' performance focused on Korean manufacturing firms, understanding the current practice of M&A in Korea. We use the Manufacturing Productivity Panel Survey Data, which are collected by Korea Productivity Center in 2013. The sample size is 575 and the sample is divided into M&A group and non-M&A group. We conduct logit analysis with the independent variables of environment factors (munificence, dynamic, uncertainty), and firms' performance (sales growth, ROS, labor productivity and Inventory turnover), and dependent variable of M&A group or non M&A group. The results show that M&A is closely related to environment feature and firm performance: M&A firms are likely to be the higher munificence and dynamic and the lower sales growth and higher profitability than non-M&A group. In addition, we also examine the characteristics of firms by M&A types (competitors, customer/supplier and firms from unrelated industry). These results imply that if firms confront the pressure of uncertainty (dynamic) and the lower growth, they tend to choose M&A. Futhermore, to profoundly understand the behavior of firms about M&A, it is required to classify the M&A firms by merge types.

• Journal of Fashion Business
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• v.23 no.2
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• pp.89-109
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• 2019

The purpose of this study was to develop licensed fashion products based on the analysis of Korean professional baseball licensing. This study reviewed the introduction of sports marketing, licensing programs, and analyzed the current status of licensing brands and products in Korean baseball clubs. Based on this analysis, high value added licensed products were developed for Korean professional baseball clubs. The results of this study were as follows. First, all Korean baseball clubs operated offline shopping malls in their home stadiums and posted online shopping mall links on their websites. Moreover, licensed products were developed through agreements with sports and licensing companies, and sales were being done through official shopping malls, open markets, and shopping malls. Various marketing for specific events or targets were not done well. Second, licensed products were mostly fashion products such as clothing and hats. Most of them were unisex wear, but the proportion of fashion products for women was not large. Also, while the licensed products used elements that made the baseball team feel symbolic throughout, they sometimes sold products that did not reveal the identity of the professional baseball team, with an emphasis on motifs that were unrelated to the team. Third, this study selected KIA Tigers and developed 27 kinds of women's licensed fashion products including textile designs. Through this research, it was derived that there is the need for integrated marketing of Korean professional baseball, diversification of consumer-based licensing products, and enhanced entertainment products for the Korean baseball cheering culture.

• Journal of the Korean Society of Costume
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• v.32
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• pp.163-182
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• 1997

The purpose of this study was intended to analyze artistic formativeness represented in the modern fashion design materials. Nowadays the modern fashion design materials is characterized by variety. The fashion materials the most important of fashion is called a softwear in textile industry and emerged as a new field. Fashion design also escaped from the tra-ditional restraint and extended to pursue lib-eral clothes and the designer's creative inten-tion has resulted in conceptual and conven-tional alteration as a new mode of plastic ex-preseeion. As a results of analysis of the formative fea-ture of Art style represented in the modern fashion design materials. First Surrealism had been searching for a new way of confronting a social and rtistic environment that was stifling and repugnant to them. Accordingly the wide applicaytion of the various object due to the thought of Sur-realism through the modern fashion materials brought the diversification and individua-lization of the modern fashion design. Second Pop Art that is made modern mech-anic culture and commercialism brought the great transformation in the history of Art out of the existing style and the sense of ex-pression. And the plastic characteristics of Pop Art that has a gravity as modern fashion materials on a them of the elements of popular consumer's society. That is the common and cheap objects were introduced into fashion materials itself or pat-tern. Third Minimalism is a trend in art att-empting to seek essence of the object by presenting simple and disciplined expressions by minimal formative means. The features of external form are simplicity clarity unrelated composition and symmetrical structure. Mini-malism was a quest for basic elements repre-senting the fundamental esthetic values of art. The minimal expression in modern fashion materials mean fabrics with simple surface and is contained using simple geometric pattern or utilizing textiles without any patterns. Fourth Eroticism is a kind of psychological revolution in the development of human civilization and is deeply rooted in the cultural tradition of myth religion customs and art. So Eroticism must be distinguished from a mere animal reproduction. These erotic char-acteristics were holded the meanings of sexu-ality through the modern fashion materials. Especially it was expressed the sexual part of body was nakedly showed through trans-parent materials or semitransparent like metalic and opaque materials. Recently the various kinds of new materials such as paper vinyle plastic metal as well as human body were applied to new fashion de-sign. First of all the new materials will give modern fashion designers stimuli and inspi-ration. It can also express values of moderners to despise materialism and uniformed modern society and to recover humanity and self-actualization.