• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.33-78
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• 2008

This paper empirically examines whether firms engage in a dynamic adjustment process toward target capital structure and, whether there is a target capital structure or mean reverting using the partial adjustment model while allowing for costly adjustment. Also we investigate the empirical determinants of optimal target capital structure in long term equilibrium. As a result, our empirical model captures at least several important features of capital structure behavior for Korean listed firms. First, Korean firms pursue target capital structure and also there is mean reverting phenomenon. Second, Non-Chaebol and small firm in adjustment speed is faster than Chaebol and large firm. Third, even capital market restricts the adjustment speed interestingly. Fourth, Korean firms have target behavior according to a degree of observed gap. Fifth, Korean firms close about one-fourth of the gap between their actual and target debt ratios within one year and thence targeting behavior explains far more of the observed changes in capital structure than market timing or pecking order considerations. Sixth, capital market is significant in determining optimal capital structure.

• Asia-Pacific Journal of Business
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• v.1 no.1
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• pp.1-22
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• 2010

In theoretical term, cultural/institutional approach, the peculiarly of the later comers, such as Hong Kong, Korea, Twain, and the converging influence from Post-modernism underlie this paper. The first approach is influential in understanding the survival of many traditional values within most of the Hong Kong firms. The later comer one can be used to explain the fact that later comer enjoyed various synergy effects when their oriental values are combined with new practices. The last one is also quite useful for the explanation of why most modern firms exposed to a severe international competition adopted human resource management But problem is that these are subjected to severe criticism because of their downgrading nature against employees.

• Journal of Digital Convergence
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• v.18 no.6
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• pp.17-32
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• 2020

This study analyzes the regulatory issues of stakeholders, the firm, the government, and the individual, in the data industry using the principal-agent theory. While the importance of data driven economy is increasing rapidly, policy regulations and restrictions to use data impede the growth of data industry. We applied descriptive case analysis methodology using principal-agent theory. From our analysis, we found several meaningful results. First, key policy actors in data industry are data firms and the government among stakeholders. Second, two major concerns are that firms frequently invade personal privacy and the global companies obtain monopolistic power in data industry. This paper finally suggests policy and strategy in response to regulatory issues. The government should activate the domestic agent system for the supervision of global companies and increase data protection. Companies need to address discriminatory regulatory environments and expand legal data usage standards. Finally, individuals must embody an active behavior of consent.

• The Journal of the Korea Contents Association
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• v.15 no.1
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• pp.451-461
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• 2015

The objective of this research is investigating the mediating effect of job engagement on the relationship between job autonomy and innovative behavior in public organizations. Major findings from Structural Equation Model analysis demonstrates that the variable 'job engagement' took a positive role between job autonomy and innovative behavior. From theoretical point, this result provides the empirical evidence of causal relationship in the three components of attitude-cognition, emotion, and action, which contributes to the advancement of action theory. Some policy implications can be drawn from the empirical findings. Firstly, job autonomy need to be seriously considered as a strategic instrument for the encouragement of innovative behavior. Secondly, job engagement of employees need to be more carefully monitored to stimulate the innovative behavior in the public organizations. In public organizations, enhancement of innovative behavior can not be achieved from institutional arrangements. Provision of job autonomy is more effective method of behavior change than performance management approach.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.97-113
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• 2023

In order to generalize the social entrepreneurship model with cooperation orientation and increase the possibility of using the model, this study developed a measurement tool and tested it with 389 executives of social enterprises. For the development of the measurement tool, preliminary measurement items were formed through review of previous studies, and a questionnaire was tentatively composed of 40 measurement items in five areas through an expert panel review of the measurement items. A total of 389 questionnaires were collected by conducting a questionnaire survey targeting Korean social enterprise managers, and exploratory and confirmatory factor analysis were conducted using 375 questionnaires that could be analyzed. Five factors for 24 items were derived through exploratory factor analysis and reliability analysis. Through a series of analysis processes including primary and secondary confirmatory factor analysis, the model fit of the newly constructed social entrepreneurship research model was confirmed, and the validity and reliability of the measurement tools were verified. As a result of this study, the model fit of the social entrepreneurship model(social value orientation; innovativeness; pro-activeness; risk-taking; cooperation orientation) is verified, thereby improving the theoretical explanatory power of social entrepreneurship research and at the same time providing the basis and basis for theoretical expansion of follow-up research. The study proved the possibility of generalizing the social entrepreneurship model with added cooperation orientation, and at the same time, the measurement tool used in this study was widely used as a tool to measure social entrepreneurship theoretically and practically. In addition, it was confirmed that the cooperation orientation is manifested in corporate decision-making and activity behaviors for resource mobilization and capacity building, opportunity and performance creation, social capital and network reinforcement, and governance establishment of social enterprises.

• International Commerce and Information Review
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• v.17 no.1
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• pp.137-163
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• 2015

This paper investigated the difference in the employment effectiveness of foreign invested companies in Korea by investor ratio and CEO nationality. To analyze the relationship between employment growth and investment ratio, CEO nationalty, firm age, company size, analysis of variance and regression are employed. Investment ratio is classified into three groups: 1. 0%${\leq}100%$. CEO nationality is classified into three groups: '1' if the CEO nationality is Korean, '2' Korean and Foreign, '3' Foreign. Employment growth turned out to be lower in groups of investment ratio equal to or bigger than 50% than in group which has investment ratio smaller than 50%. and the employment effect was not different depending on the type of CEO. By analyzing the employment growth with respect to investment ratio type and CEO nationality theoretically and empirically, the effect of inward foreign direct investment on employment and its preparation plan can be considered. The policy implication is that investment ratio should be considered in the future employment policy.

• Journal of Digital Convergence
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• v.10 no.10
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• pp.97-106
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• 2012

In the past, executive managers made a decision based on personal experience and knowledge due to lack of the appropriate and timely information. With the development of information systems and technologies, efficiency and productivity of business operation has been enhanced. In this study, we propose a system design and architecture blue-print related to strategic decision making support system. The proposed system consists of 3 key parts; individual business feasibility test, business portfolio feasibility test, business portfolio management. The three key parts are comprised of 11 components to generate information and knowledge based on various data input from inside and outside of firm. This system is expected to provide objective and reliable output to users. In addition, the proposed strategic decision support system would help respond to a rapidly changing business environment.

• Journal of Digital Contents Society
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• v.18 no.1
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• pp.47-54
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• 2017

In this research, I analyze cases of character packages in Japane, extract the concept of design that was loved by consumers and inmates and succeeded in marketing, and aim to establish the logic and principle. In addition, in the future, when introducing and utilizing the character package design in Korea, this research intends to make a guideline for the development of objective validity and empathic package design. After identifying the design concept and finding the principle by targeting package design of five character of Tohato which mixed various media and expanded sales, I want to find out the cause of success. Therefore, I have studied the theory and principles of enterprise and creative in product strategy through case analysis of character design concept and character package design. As a result, a design that leaving the functional side, having a story, making memories, and inducing a sense of closeness was as a successful case of renewal. In the package design, in some cases, package design execution is more important under the theoretical system according to consumer behavior analysis and Promotion of bold design concept of the design for the success of that concept, deviated from the existing principle.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.30 no.4D
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• pp.395-402
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• 2010

The seriousness of a traffic accident appears relatively higher on the curve sections compared with the straight sections due to a change in speed caused by a change in the driver's sight. In particular, the visual distortion phenomenon, one of the dangerous factors taking place on the curve sections, appears different according to the road's geometric design. Although it is a genuinely principal design factor which should be necessarily considered in designing a road, the previous researches on establishing the design standards for it have been insufficiently conducted. As a result, the establishment of the road design standards for the curve sections considering the sight distortion phenomenon is desperately required. This research examined the previous researches on the driver's behaviors, the driver's sight characteristics and the perceived curve radius on the curve sections, and developed the theoretical model of perceived curve radius to which a mathematical technique is applied in consideration of the visual distortion phenomenon on the two-lane curve sections in a local area. In addition, after the theoretical visual distortion was calculated on the basis of the theoretical model of perceived curve radius, the range of error on the theoretical recognition radius model formula was verified through comparing it with the previous researches' experiential visual distortion level and analyzing both of them. As a result, it was observed that as the curve radius practically increases in the theoretical recognition curve radius, the range of error tends to go down, which reflects well the characteristics of the curve sections on the road. Based on this research, it is expected that this research will be helpful to eliminate the safety defects when designing the curve sections and contribute to develop the road design standards considering human factors in the future.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.05a
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• pp.608-611
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• 2003

선진국입을 목전에 둔 한국경제의 발전을 위해서 지식과 기술을 기반으로 한 벤처기업의 생성과 발전은 매우 중요한 요소라 할 수 있다. 민과 관의 적절한 벤처 투자는 미래의 기업가들에게 신지식 창조의 동기를 부여하고 성장, 발전단계에 있는 기업들에게 자본을 공급함으로써 미래의 산업을 창조하는 매우 중요한 활동이다. 국내외적으로 벤처 투자자본에 대한 연구가 활발히 진행되어 왔으나 재무론을 바탕으로 한 벤처투자에 관한 연구와 다양한 벤처투자자본들의 유형과 투자행태 등을 설문지를 통해 밝혀내는 탐색적 연구들에 국한되어 연구, 발표되고 있는 실정이다. 본 연구에서는 벤처자본시장의 대표적 투자자본인 사적 창업투자회사와 정부 벤처정책투자 간의 전략적 상호작용을 가격모델을 통해 고찰하였다. Bertrand paradox의 가정에서 기술한 바와 같이 정부 벤처정책투자간 민간 창업투자회사들과 같은 투자전략을 구사하면 민간 창업투자회사들은 시장에서 살아남기 어렵고 결과적으로 정부는 벤처기업의 생성 및 발전지원이라는 목적에 부합되지 않은 투자를 한 것이 된다. Hotelling(1929)의 위치차별모델이 역설하는 바와 같이 정부 벤처정책투자는 사적 창업투자회사가 지향하는 투자와는 다른 투자정책을 구사할 때만 벤처기업 육성이라는 목표를 효율적으로 수행할 수가 있을 것이다. 이 연구 논문에서는 다양한 투자변수에 대한 Nash Equibrium이 존재함을 증명함으로써 사적 창업투자회사와 정부의 벤처정책투자가 벤처기업의 육성이라는 목적에 맞는 효율적 투자를 하기 위해 취해야 할 투자 전략들을 밝혀내었다.가 있는 것 같다. 따라서 본 연구에서는 웹기반 쇼핑시스템의 확산에 관련된 균형된 분석을 수행하기 위하여 경영(management)과 기술 (technology)을 조화롭게 고려한 관점에서 연구를 수행하고자 한다. 즉, 본 논문에서는 기술적 측면(technical aspect)과 경영적 측면(management aspect)을 동시에 고려하여 웹기반 쇼핑시스템의 주요만 특성을 살펴보고, 향후 정보통신 기술(ICT)의 확산에 관한 연구에서 두 가지 관점의 통합적 중요성에 대하여 강조하고자 한다. 그에 덧붙여 웹기반 쇼핑시스템과 다른 정보시스템을 비교하여 전자상거래 환경에서 웹기반 쇼핑시스템의 주요만 특성들이 두가지 연구관점에서 어떻게 개념화 될 수 있는지를 고찰하고자 한다. 이러만 분석에 기반하여 본 연구에서는 기술적 측면과 경영적인 측면을 동시에 고려한 웹기반 쇼핑시스템의 특성을 제시하고자 한다. 결론적으로 본 연구의 목적은 본 논문에서 적용한 기술(technical)과 경영(management)의 조화로운 연구관점이 향후 정보통신 기술이나 시스템, 그리고 전자상거래에 관련된 일련의 연구에 적응되어 보다 균형잡힌 논의와 분석이 이루어 질 수 있는 시발점이 되길 기대한다.생된 $CH_{4}$를 회수하여 이용하면 대체에너지원으로 활용 가치가 높은 것으로 판단된다./207), $99.2\%$(238/240), $98.5\%$(133/135) 및 $100\%$ (313)였다. 각각 두 개의 요골동맥과 우내흉동맥에서 부