• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.3
• /
• pp.518-526
• /
• 2017

This study analyzed the impact of family firms and their characteristics on how they use debts to analyze the decision-making process of Korean family firms. For analysis, we classified the characteristics of family firms into three categories, through the influence of the relationship between the lack of funds and net debt issuance, which was confirmed as the 'packing order theory' of family firms. There was a total of 4,503 enterprises in the Korean Exchange (KRX). The period of analysis was 10 years, between 2004 and 2014. To summarize, Shyam-Sunder and Myers (1999) validated the packing order theory by presenting a model of family businesses that showed greater applicable to higher packing order theory than a model of non-family businesses. Moreover, the results also confirmed the application of the packing order theory by the family stronger corporate governance and ownership structure. The ownership and governance characteristics of the ruling family has also shown the applicability of higher packing order theory.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.3
• /
• pp.337-345
• /
• 2018

The purpose of this study is to analyze the relationship between the characteristics of Korean family firms and the impact of debt financing. The analysis period was 10 years from 2004 to 2013, and the sample consisted of 4,008 non-financial firms listed on the Korea Exchange. For the analysis, the unbalanced panel data with time - series, cross - section data were formed and analyzed using panel data regression analysis. The results are as follows. First, Korean family firms use relatively less debt than non - family firms. It can be understood that family firms in which the dominant family owns and dominates the corporation are less likely to increase their debt because the agent problem is alleviated and the need for the control effect of Jensen (1986) is lowered. Second, in the verification of the packing order theory using the model proposed by Shyam-Sunder and Myers (1999), family firms have higher compliance with the packing order theory than non-family firms do. When financing is needed, debt is preferred over equity issuance. However, for Korean family firms, 24.38% of the deficit funds are financed through the issuance of net debt, which is relatively low compared to the 75% shown in the analysis of Shyam-Sunder and Myers (1999). These results reveal the limit to the strong claim that the Korean family firms follow the packing order theory.

• Journal of Popular Narrative
• /
• v.25 no.1
• /
• pp.429-462
• /
• 2019

This paper argues how the concept of melodrama can be articulated with the Affect Theory and Posthumanism in relation to animal or environment representation which have emerged as the new topics of the recent era. The argument will be made through the discussion of Agustin Zarzosa's book, Refiguring Melodrama in Film and Television: Captitve Affects, Elastic Sufferings, Vicarious Objects. Using a genealogical approach, the book revisits the notion of mode, affect, suffering (hysteria), and excess which have been dealt with in the existing studies of melodrama. In chapter one, he broadens the concept of melodrama as a mode into the means of redistribution of suffering across the whole society in the mechanism of the duo of evil and virtue. It is the opposition of Brooks's argument in which melodrama functions as the means of proving the distinction between evil and virtue. Chapter two focuses on the fact that melodrama is an elastic system of specification rather than a system of signification, with the perspective of Deleuzian metaphysics. Through the analysis of Home from the Hill (Vincente Minnelli, 1959), this chapter pays attention to an 'affect' generated by the encounters between the bodies and the Mise-en-Scène as a flow not of a meaning but of an affect. Chapter three argues that melodrama should reveal an unloved (woman's) suffering, opposing the discussion on the role of melodrama as the recovery of moral order. Safe (Todd Haynes, 1995), dealing with female suffering caused by the industrial and social environment, elaborates on the arguments on melodrama in relation to female hysteria with ecocritical standpoints. The rest of the two chapters discusses the role of melodrama for the limitation and extension of the notion of the human through 'animal' and 'posthuman' melodrama. It argues that the concept of melodrama as 'excess' and 'sacrifice' blurs the boundary between human and inhuman. In summary, although the author Zarzosa partly agrees with Peter Brook's notion of mode, affect and sufferings,he elaborates the concept of melodrama, by articulating philosophical arguments such as Deleuzianism, feminism, and posthumanism (Akira Lippit and Carry Wolf) with the melodrama. Thefore, Zarzosa challenges the concepts of melodrama led by Brooks, which had been canonical in the field.

• Journal of Convergence for Information Technology
• /
• v.7 no.1
• /
• pp.93-98
• /
• 2017

To recover the capital market's confidence, interest in accounting ethics education has increased recently. The purpose of this paper is to introduce a simple classroom games for moral hazard problem and to analyze the results. This case study introduces the classroom games in which well-known experiment of principal-agent dilemma in experimental economics implemented accounting ethics education. This paper suggests that game lesson is effective and efficient way to understanding moral hazard problem. During the games, cause and effect of players' decision making react upon each other. This paper contributes to generating further discussion on accounting ethics education and providing practical implication.

• Korean Journal of Child Studies
• /
• v.14 no.2
• /
• pp.137-147
• /
• 1993

감정이입은 친사회적 행동의 잠재적 동기요인으로서 발달심리학자들 (e.g., Feshbach, 1978 ; Hoffman, 1975)로부터 지대한 관심을 받아왔다. 어려움에 처한 다른 사람에 대해 감정이입적으로 자극된 사람은 상호 체험하는 심적 고통(distress)으로부터 벗어난다는 기대에 의해서, 또는 지원적 행위 후에 대리체험할 수 있는 긍정적인 감정에 대한 기대에 의해서, 그 사람을 지원하도록 동기유발 되어질 수 있다(Barnett & Thompson, 1985; Hoffman, 1975). 감정이입과 친사회적 행동 사이의 긍정적 관계에 대한 충분한 이론적 근거에도 불구하고, 그 관련성을 실증하는데 실패한 많은 연구들에서 나타난 개념적, 방법론적 문제들이 본 논문에서 분석되었다. 성인의 감정이입과 친사회적 행동과의 관계에 대한 연구들은 상당히 일관된 긍정적 결과를 제시해온 반면, 아동들, 특히 어린 유아들을 대상으로 한 경우, 명백하거나 쉽게 해석할 수 있는 패턴의 관련성이 확립되지 못했다. 이러한 종전 연구에서의 문제점은 감정이입에 대한 개념적 논쟁 및 측정방법의 어려움에 기인할 수 있다. 감정이입과 친사회적 행동 사이의 실험적인 관련성의 강도는 이 변인들을 측정하기 위해 사용된 방법들의 특성과 제한성에 다분히 의존하는 것으로 보인다. 친사회적 반응에 영향을 미치는 것으로 가정되어지는 다양한 상황적, 동기적 요소들을 감안하여, 유아의 감정이입 능력이 구체적인 사회적 상황에서 작용되는 과정이 보다 면밀하게 연구되어져야 한다.

• Journal of the Korea Convergence Society
• /
• v.10 no.11
• /
• pp.367-374
• /
• 2019

This study aims to examine the impact of corporate governance systems on the relationship between R&D investment and the performance of Chinese firms. The sample firms were obtained from the statistical yearbook of Chinese high-tech firms. We implement a multiple-regression analysis for an empirical examination. The findings of showed that the separation of the board chair with CEO strengthen the R&D investment-performance relationship of Chinese firms. However, the outsider ratio of the board was found to negatively moderate that relationship. This study provides practical guidelines for Chinese firms undertaking R&D management and corporate governance systems. It also encourages future study on the effects of corporate governance as the means for R&D investment management.

• Human Ecology Research
• /
• v.56 no.6
• /
• pp.527-539
• /
• 2018

This study analyzed the substitute behavior of mothers of infants or elementary-school-aged children in terms of consumption. For this study, in-depth interviews were conducted with women residing in the Seoul metropolitan area who show significant interest in their children. The interviews were analyzed based on the grounded theory. The findings of this study are as follows. First, mothers show substitute behavior for their children's appearance. The younger the children, the more substitute consumption exhibited by mothers. As children grow older and are able to choose what to wear, mothers show less substitute behavior tendencies regarding appearance management. Second, mothers tend to exhibit substitute behavior regarding their children's academic achievements. Mothers hope their children will be more successful than themselves were or will achieve the dreams that they failed to accomplish, which drives substitute behavior. Mothers affectionately provide children with financial support so they can obtain academic achievement and they hope their children will have successful occupations in the future. Third, mothers who are not satisfied with their appearance and have low self-esteem are more likely to exhibit substitute behavior with their children. This study will be helpful in understanding mothers' motivation and psychological factors regarding the support of their children.

• Journal of Labour Economics
• /
• v.33 no.2
• /
• pp.1-26
• /
• 2010

Introducing a concept of 'the Effect of My Mom's Friend's Son'(MMFS Effect) into the conventional job search theory to develop it further, we try to estimate its effects on the hazard rate of youth pre-employment duration with some proxy variables such as his/her parents' schooling, monthly temporary/daily workers ratio, monthly average wage differentials between the workers of large and small firms. The results confirm us the fact that so called 'MMFS Effect' has been strengthened gradually up to recently. Their policy implications are as followings. Firstly, from the standpoint of shortening job searching period of youth and raising the hazard rate of their unemployment, the trend that the differentials of wages and quality of jobs in the labor market are expanding continuously is not desirable at all. Secondly, the problems of youth unemployment cannot be solved easily only by providing correct and relevant informations about the labor markets simply.

• Journal of Technology Innovation
• /
• v.22 no.2
• /
• pp.105-129
• /
• 2014

In order to identify the antecedents of organization's exploration activities, this study focuses on internal factors. There are many theoretical and empirical studies for an organization's exploration activities, while the research on antecedents is limited. This study is aimed at the manufacturing industry in Korea from 1998 to 2012 using data from 15 years of slack, ownership structure, and TMT diversity. The study examined the impact of these firm-specific factors on firm's exploration activities. As a result, a company's exploration activities and slack have positive relationship. Between insider ownership and exploration activities, the hypothesis was not supported. Also, the relationship between TMT diversity and exploration activities was dismissed. Finally, based on the results of this analysis, the contribution of this study, limitations and implications are drawn.

• Journal of the Korean Society for information Management
• /
• v.24 no.1 s.63
• /
• pp.227-250
• /
• 2007

With the advent of social networking activity on the Internet, online community sites are becoming more popular. The main purpose of this study is to empirically investigate the influence of intermediary trust and system trust on the forum activity trust and information quality satisfaction. We assume that the intermediary trust and system trust come from the online community site itself, while the forum activity is made within a specific forum allowed on the online community site, and therefore forum activity trust and information quality satisfaction are related to a specific forum. The 591 valid questionnaire data were gathered from the users acting in forums allowed on the Samsung Economic Research Institute (SERI) (www. seri.org). The empirical results are as follows. First, the SERI intermediary trust and its system trust have positive influence on the SERI forum information quality, system quality, and perceived effectiveness. Second, the SERI intermediary trust contributes to reducing the SERI forum perceived risks, while the SERI system quality does not. Third, the higher the SERI intermediary trust is, the higher the SERI forum trust and information quality satisfaction increase.