• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.

• Korean Journal of Biological Psychiatry
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• v.6 no.2
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• pp.153-160
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• 1999

Animal models can provide a useful tool for the study of some aspects of psychiatric disorders and their treatment. The four criteria for the evaluation of animal models of psychiatric disorders are as following : 1) similarity of inducing conditions 2) similarity of behavioral state 3) common underlying neurobiological mechanisms 4) reversal by clinically effective treatment techniques. Several animal models have been proposed for schizophrenia : phenylethylamine model, L-dopa model, hallucinogen model, cocaine model, amphetamine model, phencyclidine model, noradrenergic reward system lesion model, reticular stimulation model, social isolation model, conditioned avoidance reaction, catalepsy test, paw test, self-stimulation paradigms, latent inhibition paradigms, blocking paradigms, prepulse inhibition of the startle reflex, rodent interaction, social behavior in monkeys, hippocampal damage, high ambient pressure, and models using selective breeding. Among them, animals with bilateral lesion of the hippocampus may provide an adequate animal model for several symptoms of schizophrenia, and ketamine model can reproduce negative symptoms and cognitive deficits as well as positive symptoms of schizophrenia. In conclusion, no model of schizophrenia is entirely representative of the disease, and findings gleaned from model systems must be cautiously interpreted. Furthermore, the process of developing and validating animal models must work in concert with the process to identify reliable measures of human phenomenology.

• Korean Security Journal
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• no.19
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• pp.67-103
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• 2009

Objectives of this study is develop security services through determinants analysis on the efficiency of security works regarding security and guarding business in Korea because nowadays the modern society like Korea let alone all over the world faces the increase of dangerous factors in every security field of the human societies, and also it is the very present situation that an individual's life even the national security itself can be at the risk without guaranteeing the efficiency of the security services. For this purpose, this study reviewed related documents, surveyed and interviewed security personnels to identify what the potentially influential factors are in both the public and private security organizations regarding the efficiency of present security services and organizations, and what differences are. Also, comparing the public and private security sectors, this study intended to suggest policy agendas how to enhance the efficiency of security services in the future. This study surveyed the 177 agents and former agents of the Presidential Security Service(PSS) for the public security sector, and also surveyed, interviewed, and internet-based polled 821 randomly selected personnels for the private security sector. This research showed that regarding the efficiency of the security services number of independent variables which had positive responses in the public security sector was more than that in the private security sector. Among the 21 questions regarding this issue, there were all of 21 positive responses in the public security sector while there were 18 negative responses in the private security sector. As a result of synthesizing all the answers of the both sides, it is possible to understand that mostly the ratio of the positive response was much higher. In the public security service, statistically significant variables were budget support for events, prior access of information, an integrated teamwork training, organizational atmosphere, morale of organization personnel. However, practical training of the security service and mutual communication showed unexpectedly negative(-) signs. In the private security service, statistically significant variables were budget support for events, integrated teamwork training, socially friendly atmosphere, compensation for the personnels, bullet-proof equipments and vehicles, mood of organization, personnel recruit and disposition, unexpected incidents and basic attitude for security services. In sum, while organizational personnel variables and organizational management variables were significant in the public security service, some organizational management variables and all socio-environment variables were statistically significant at 5% significance level.

• Management & Information Systems Review
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• v.29 no.4
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• pp.123-142
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• 2010

This study suggest that firms can use online brand communities as an IMC tool to achieve high brand loyalty through marketer-controlled or loyal customer-controlled brand contacts. In this perspective, the online brand community as a marketing communication tool can help the firm in eliciting favorable responses from customers. This study finds that an online brand community, as a critical marketing promotion tool, helps a firm elicit favorable relationship with customers and build strong brand loyalty. In particular, this study suggests several important theoretical and managerial implications. First, this study confirm that "advertising usefulness" is the most powerful and important factor that affects cgerial 's positive emotionomehile "sales promotion usefulness" impacmehin "interactivity" but dies not impacmhin "cgerial iexperience"ltyevent usefulness" impacmehin "cgerial iexperience"but dies not impacmhin "interactivity." In addition, "cgerial iexperience" signifn "itly impacmehin "cgerial -to-cgerial iinteractivity." This indicates that online environment provides participapacmwith a fun and exciting environment. In that sense, enhancing the online brand community experiencemwould be a critical factor for building strong brand. Thi", mword of mouth can play a riclly important role in making many cgerial s to trust brand and to enhance online brand community loyalty. Web users are becoming web authoore owning and creating content limited only by their imaginations.

• Journal of the Institute of Electronics Engineers of Korea SP
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• v.43 no.6 s.312
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• pp.1-10
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• 2006

Most display characterization methods, such as the gain-offset-gamma (GOG) model and S-curve model, generally assume that displays have two fundamental characteristics, channel -chromaticity-constancy and channel-independence. However, these assumptions are not so applicable in the case of liquid crystal (LC)-based mobile displays. Accordingly, modifications are required to enable the application of conventional display characterization methods to mobile displays. Therefore, this study proposes the modeling of distinct EOTFs in terms of the X, Y, and Z values for each channel to consider the differences among the EOTFs resulting from channel-chromaticity-inconstancy. In addition, to overcome the poor additivity property among the channels due to channel-interaction, the proposed method also models and uses the EOTFs of the X, Y, and Z values for the inter-channel components cyan, magenta, yellow, and gray Experimental results confirm that the mobile display color values predicted by the proposed characterization method are more accurate than those predicted by other characterization methods due to considering the channel-chromaticity-inconstancy and/or channel-dependence of the display.

• Management & Information Systems Review
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• v.36 no.1
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• pp.291-307
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• 2017

This study analyzes the effects of global diversification level on discretion accruals and firm value. In order to verify the hypothesis of this study, the sample of securities companies was selected from 2012 to 2015, and the final sample is 2,139 firm-year. The results of this paper are as follows : First, discretionary accruals increased as the diversification level increased. We conducted an additional analysis as to whether the increase in information asymmetry due to international diversification affects discretionary accruals. As a result, the increase of information asymmetry due to international diversification increased discretionary accruals. This analysis is consistent with EI Mehdi and Seboui(2001)'s study. Second, we analyze the impact of international diversification on corporate value. In previous studies, there was no consistent conclusion about the relationship between international diversification and firm value(Christophe and Pfeiffer, 2002; Denis and Vost, 2002; Bodnar and Wenintrop, 1997; Bodnar et al., 2003). Therefore, this study hypothesizes that the increase in discretionary accruals, which have been driven by international diversification, will have an impact on firm value. Aa a result of the analysis, we found that the increase in discretionary accruals due to diversification declines the firm value. This means that the increase in discretionary accruals due to diversification is utilized as and opportunistic means by taking individual gain of managers.

• The Journal of Korean Institute of Electromagnetic Engineering and Science
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• v.16 no.7 s.98
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• pp.671-680
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• 2005

The CFL linearisation chip which is one of key devices in ultra-narrowband mobile radio transmitter using CQPSK digital modulation method is designed and implemented with $0.35{\mu}m$ CMOS technology. The reduced size and low cost of transmitter are available by the use of direct-conversion and CFL ASIC chip, which improve the power effi챠ency and linearity of transmitting path. In addition, low power operation is possible through CMOS technology The performance test results of transmitter show -25 dBc improvement of IMD level at the 3 kHz frequency offset and then satisfy FCC 47 CFR 90.210 E emission mask in the operation of CFL ASIC chip. At that time, the transmitting power is about PEP(Peak-to-Envelope Power) 5 W. The main parameters to improve the transmitting characteristic and to compensate the distortion in feed back loop such as DC-offset, loop gain and phase value are interfaced with notebook PC to be controlled with S/W.

• Journal of the Korean Society for Library and Information Science
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• v.38 no.1
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• pp.77-91
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• 2004

The present study surveyed university librarians' perceptions of barriers to research utilization using the Barrier Scales. The results shows that in mean Barriers Scale scores, characteristics of the organization had the highest, and then followed by the communication, the research and the librarian. The most important factor was perceived to be organizational support relating to insufficient time to implement new ideas, inadequate facilities, and lack of authority to make changes and in the communication relating to lack of clarity of research implications for practice, lack to demonstrate research's relevance to practice, and lack of readability of research. Also, incomprehensible English research reports and statistical analyses were perceived as major barriers. The comparison with those of nursing was discussed. In order to settle the barriers identified, librarians should be educated to have 'research literacy' and organazational merit and reward systems were reinforced for research utilization. Also, it needs to explore librarians' specific experiences of barriers in utilizing process in practice. In further research, by integrating both the result of the quantitative and qualitative research, it needs to develop and to assess a standard measurement for librarians' barriers of research utilization in national and international context.

• Journal of the Korean School Mathematics Society
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• v.6 no.1
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• pp.65-85
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• 2003

The purpose of this research is to increase mathematical problem solving abilities VIa STAD evaluation after completing classes. to which ST AD group study is applied, and promoting the learning accomplishments of students by developing gradual self-leading learning materials about the research project on ' How to use an hour math class efficiently\ulcorner ' For this purpose, the items below were studied. Firstly, gradual self-leading learning materials were developed and applied which were composed of textbook abstracts, basic problems, developing problems and intensive problems rather than existing textbooks. Secondly, the ST AD group study model was selected and applied which invokes competitions among small groups of which learning goals were clear. individual responsibility was important. and successive opportunities were equal. The evaluation using STAD at each end of a chapter was announced instantly using the EXCEL scoring system. Though the results of experimental classes were limited in their size. experimental time, and class selection, there were meaningful changes in the aspect of being able to heighten the accomplishment desire of students by inducing voluntary competitions among small groups without any student omitted. As the result of applying this research to my class, the ST AD group study using gradual self-leading learning materials invoked the interests of students and increased learning accomplishments via increasing problem solving abilities in mathematics. The ST AD group study was easy to use by beginning teachers, and its process was simple. It increased interactions among students and learning motives because its compensation system was open to all students. Among various studying methods for small groups. STAD group study is expected to be widely used for mathematics classes.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.4
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• pp.119-127
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• 2013

The purpose of this study is an attempt to explore the impact of working environment of visiting instructor on the empowerment for multi-cultural families. In this light, this study aims to provide some inevitable and necessary foundational data for reinforcing the empowerment of visiting instructor in order to essentially improve the quality and effectiveness of this governmental service. To accomplish this goal, this study selected eighteen multi-cultural service centers which locate near to the capital city due to each center serves relatively a large populations of multi-cultural families and took a survey from visiting instructor 286 survey forms. It used SPSS WIN 15.0 program for analyzing data, and the following is a list of tests used in this research: t-test,One-way ANOVA, correlation analysis, multiple regression analysis. The conclusive consequences from the research are following. In the case of analyzing the difference of empowerment for multi-cultural families, the project showed that the nationality, the forms of religion, the level of education, the number of child, the state of economic made a difference. As this project explored the impact of working environment on job stress, it showed that job characteristics and organizational commitment's compensation system and the development of education negatively effects on job stress. Therefore, as this project investigated how the working environment impacts on the empowerment.