• Journal of Environmental Impact Assessment
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• v.24 no.4
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• pp.332-343
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• 2015

It would be the most effective way to have government take care of social problems and hazardous material danger due to odor. It is also well known that odor acceptance and their willingness to pay for resolving the odor problem vary person by person. This is why public sector's intervention is required to get ride of any possibility of market failure resulted from negative external effect of human. This paper has tried to do empirical research based on survey of residents who are currently living in the area of Ochang industrial complex in North Chong-chung province. According to the empirical research results, first of all, it was proven residents' perception of legal regulation has a negative effect on odor acceptance. That is, the more residents are aware of law and regulation, the less they tend to accept odor. In addition, resident's perception on need to improve odor regulation has a positive impact on their odor acceptance. Finally, residents' satisfaction on the legal complaints to local government has an interaction effect to causative relationship between the perception of improving odor regulation and odor acceptance.

• The Korean Journal of Financial Studies
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• v.11 no.1
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• pp.217-242
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• 2005

본 연구에서는 부도기업의 부도 후 회생여부와 부도발생시의 주식시장의 반응과의 관계를 조사하였다. 즉 증권시장이 부도기업의 사후적인 회생 또는 회생실패에 대한 통찰력을 부도시에 이미 갖고 있는지를 부도처리시의 주가반응을 분석함으로써 검정하고자 하는 것이다. 이를 위하여 외환위기 후 상장기업의 부도가 빈발하였던 1998년에서 2000년 사이에 부도가 발생한 상장회사 55개 기업을 대상으로 후에 회생한 기업(31개기업)과 그렇지 못한 기업(24개 기업)을 구분하여 후에 회생한 기업의 부도시의 주가반응이 회생하지 못한 기업의 부도시의 주가반응보다 덜 부정적이었는지를 검정하였다. 실증분석 결과 부도기업 중 후에 회생한 기업(31개기업)의 분석기간 ($-10{\sim}+10$)중 평균초과수익률과 누적평균초과수익률이 비회생기업(24개기업)의 그것에 대하여 유의한 (+)의 차이가 나타나지 않았다. 또한 부도기업의 누적초과수익률을 종속변수로 하고 회생여부를 나타내는 더미변수, 전년도감사의견이 적정의견인지의 여부, 부채비율, 총자산(억원) 자연 로그값, 사전적 폭로정보 대용변수로서의 지난 1년간 주가반응을 의미하는 (-230, -11)윈도우 누적초과수익률을 독립변수로 하여 다중회귀분석을 실시하였으나 부도후 회생여부를 나타내는 더미변수의 회귀계수는 유의적이지 않았다. 따라서 초과수익률 차이분석결과 회생기업의 부도시의 주가반응이 비회생기업의 그것에 비하여 유의한 (+)의 차이가 없고, 또한 회귀분석 결과 부도시의 초과수익률과 부도후 회생여부는 유의한 관계가 없으므로 부도처리시의 주가반응에서 후에 회생하는 기업이 그렇지 않은 기업보다 덜 부정적일 것이다라는 연구가설은 기각된다.등에 대한 평가기준의 재정립이 강구되어야 할 것이다.한 변동성에서 큰 위험프리미엄이라는 연결고리를 거쳐 코리아 디스카운트라는 현상으로 귀착되는 현상에 주목하고 있는 본 연구의 결과가 실무에서 유용하게 사용됨은 물론이요 또한 본 연구의 방법론 자체가 매우 정교하고 포괄적이어서 금융시계열을 포함한 다른 여러 분야에 크게 응용될 수 있는 외부효과도 기대된다.R 효과는 전통적 의미의 일반적으로 낮은 PER종목이 초과수익률을 내는 것이 아니라, 기업규모가 크더라도 그 기업의 개별특성을 고려했을 때 이와 비교해 상대적으로 PER가 낮은 종목에 투자하면 초과수익을 낼 수 있음을 의미한다. 발견하였다.적 일정하게 하는 소비행동을 목표로 삼고 소비와 투자에 대한 의사결정을 내리고 있음이 실증분석을 통하여 밝혀졌다. 투자자들은 무위험 자산과 위험성 자산을 동시에 고려하여 포트폴리오를 구성하는 투자활동을 행동에 옮기고 있다.서, Loser포트폴리오를 매수보유하는 반전거래전략이 Winner포트폴리오를 매수보유하는 계속거래전략보다 적합한 전략임을 알 수 있었다. 다섯째, Loser포트폴리오와 Winner포트폴리오를 각각 투자대상종목으로써 매수보유한 반전거래전략과 계속거래 전략에 대한 유용성을 비교검증한 Loser포트폴리오와 Winner포트폴리오 각각의 1개월 평균초과수익률에 의하면, 반전거래전략의 Loser포트폴리오가 계속거래전략의 Winner포트폴리오보다 약 5배정도의 높은 1개월 평균초과수익률을 실현하였고, 반전거래전략의 유용성을 충분히 발휘하기 위하여 장단기의 투자기간을 설정할 경우에 6개월에서 36개월로 이동함에 따라 6개월부터 24개월까지는 초과수익률이 상승하지만, 이후로는 감소하므로, 반전거래전략을

• Journal of Digital Convergence
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• v.12 no.3
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• pp.149-160
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• 2014

This paper analyses whether change in corporate dividend policy affects the new issue announcement effects. By conducting an event study using 683 new equity announcements data from year 2000 to year 2009, we find firms paying more dividends experience relatively negative announcement effects of seasoned equity offerings comparing with firms paying less dividend. The cross sectional regression analysis results confirm our findings. These results indicate that corporate dividend policy change may interact with forthcoming new equity announcement decision, which may result in a negative signal to the capital markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.1
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• pp.119-129
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• 2018

Companies' efforts to secure and sustain a competitive advantage in the market may also appear in the form of new product development. This has increased the importance of leveraging knowledge from other companies in a global competition that is accelerating with an accelerating product life cycle and the development of transportation and communications. In order to create valuable knowledge through the exchange and combination of knowledge, the absorptive capacity of the recipient of the knowledge should be considered as important, but also the knowledge protection tendency, which is characteristic of the knowledge transferor, should be considered. However, studies that considered these factors at the same time were very limited. This study examines the effect of suppliers 'absorptive capacity and buyer' s knowledge protection on new product development performance during the joint development of new products. In addition, we investigated the interaction effect between supplier's absorption capacity and buyer's knowledge protection tendency. For this purpose, data were collected for automobile industry, electronics industry and defense industry, where joint development of new products occurred frequently, and statistical verification was performed by regression analysis. The results showed that the absorptive capacity of the supplier was positively correlated with the performance of the new product development, and the buyer 's knowledge protection tendency had a negative relationship with the new product development performance. In addition, the absorptive capacity of the supplier and the buyer 's knowledge protection tendency have an interaction effect on the new product development result. These results suggest that suppliers' absorption capacity is an important factor in the joint development of new products, but suppliers with superior absorption capacity may have a negative impact on new product development performance if buyers have a negative attitude toward knowledge transfer.

• Journal of Digital Convergence
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• v.15 no.8
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• pp.169-182
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• 2017

The purpose of this study is to empirically examine a behavior improvement of unethical information sharing through the ethics program in organization. An unethical behavior of information sharing on organization members is to be get to private interests through divulgence of company's confidential information. An unethical information-sharing of individual is the opportunist and selfish behavior for an expansion of social capital and shows a negative ripple effect in organization. When conducting the research methods, the analysis order performs the cluster, discriminant, t-test and multiple regressions. According to the study, There are differences the behavior of unethical information sharing between opportunist and non-opportunist. The opportunist member for unethical behavior improvement required the program operation both value and compliance oriented program. Non-opportunist member required only the value-oriented program. The upcoming research needs to explore both ethics program's frequency and action of a punished person.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.85-97
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• 2015

This study examined the effects of outside directors and CEO duality on acquisition strategies and performance of Korean firms in high-technology industry. Based on the resource dependence theory, we focused on the service and resource-dependence roles from board of directors in the process of decision-making of acquisition strategies. In addition, CEO opportunism behavior rises when CEO serves as chairperson of board and induces the negative effects on acquisition performance. Specifically, we investigated the interaction effects between outside directors ratio and CEO duality. For the period of 2004 to 2012, 246 acquisitions of Korean firms in high-technology industry were analyzed to test our intended hypotheses. Our results indicate that there exist positive relationship between outside director ratio and acquisition performance for Korean high-technology firms. Negative associations prevail between CEO duality and performance consequences of acquisitions. While outside director ratio has a positive effect on acquisition performance when there is a presence of CEO duality, negative effect prevail for outside director ratio on acquisition performance in the absence of CEO duality position to hold our interaction hypothesis. The favor of dual structure can be explained with implications referring to unity of command and strong leadership driven from CEO duality that enhances the resource dependence roles of board of directors in the context of high-technology industry acquisition behaviors rendered by Korean firms.

• Journal of Science and Technology Studies
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• v.2 no.1 s.3
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• pp.85-105
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• 2002

This is to review the nature of Korean science and technology policy based on the concept of policy ideas. According to the institutional theory, policy ideas are composed of the beliefs on both principle and causal relations concerning policy behaviors. Policy ideas influence science and technology policy considerably because they are embodied by policy-makers and embedded in government institutions such as decision-making rules and procedures. Recently, promoting industrial competitiveness is a leading policy idea in Korea's science and technology policy. It means that the science and technology policy is influenced mainly by economic interests rather than by civic interests. Though the economic value of science and technology may not easily underestimated, the negative external effects such as environmental degradation and technological risks should not be neglected. Therefore, in developing science and technology policy, much efforts should be made to consider both the policy idea of industrial competitiveness and the new one of quality of life in a balanced way. It means that civil society should be allowed to have more access to policy process in the area of science and technology than before.

• International Area Studies Review
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• v.22 no.3
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• pp.255-292
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• 2018

This paper evaluates the new food policy adopted by the European Union to enhance the food safety after the mad cow crisis occurred in 1990's. Newly introduced rules at the EU level are characterized by two features. Firstly, an important part of them have the form of Regulation which is a binding legislative to all member countries. Secondly, most of them are horizontally applied to the whole food industry, irrespective of their kinds of performance, hygiene or labelling. According to theoretical studies on this topic, any food safety regulation for solving adverse selection problem or reducing negative externality in food consumption should be fine-tuning depending on the concrete demand and costs conditions of the food sector concerned. In this theoretical perspective, the food safety laws introduced at EU level after mad cow crisis have been over-regulated for improving social welfare. The true motivation for the transfer of the policy competence on food safety to the Union level is political rather than economic. Our analysis with a political economic perspective shows that how the EU food regulations have been embraced not only by the governments of member countries, but also by diverse interest groups like food processor & distributors, consumers and agro-livestock groups, and that they have been used as protectionist purpose specially against non-member developing countries. Taking into account the fact that the basic aim to form the Union is to establish a single market to enhance economic efficiency at the Union level, the EU is required to adopt some policy actions to reduce negative effects of too restrictive food safety regulations.

• Management & Information Systems Review
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• v.33 no.5
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• pp.155-169
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• 2014

We meet many difficult challenges from many factors such as crime, natural disasters, social unrest, financial problems, employment, and so on. It therefore essential to cope with these negative stressful events to attain a state of personal well-being. Lately in the field of psychology and psychiatry, a concept called 'resilience' has received increasing attention. Resilience embodies the personal qualities that enable one to thrive in the face of adversity. Also it refers to the process of overcoming the negative effect of risk exposure, coping successfully with adversity, and avoiding the negative trajectories associated with risks. Resilience people were expected to do their innovative work behavior well. And SUS(supervisor support), COS(coworker support), OEMC(organizational error management culture) influence the relationship of resilience between Innovative Behavior. This study focused on three question. First, how is resilience relate to individual performance in the organization? And second, are there any moderate factors between resilience and individual performance. As the result of the hierarchical regression analysis, resilience indicates positive effects on IB and IB was predicted by interaction of resilience by SUS and OEMC. Findings in this study indicated that the level of SUS and OEMC should be considered in interpreting the resilience and Innovative Behavior.

• The Journal of the Korea Contents Association
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• v.13 no.3
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• pp.362-369
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• 2013

This research is to investigate the impact of informal communication of smart-phone user while at work on performance. To do this, we proposed the research model including informal offline communication represented by tea time and informal online communication typified by Kakao talk derived from water-cooler effect. The results of this empirical study is summarized as followings. First, Kakao talk with insiders has a positive effect on performance only in male group, and Kakao talk with outsiders has a negative effect on performance in both male and female group. Secondly, tea time has a positive effect on performance in group with high task interdependence, whereas Kakao talk with insiders has a positive effect on performance in group with low task interdependence. The findings have significant implications for policy development to regulate the wise smart-phone use in organization.