• Proceedings of the Korea Water Resources Association Conference
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• 2004.05b
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• pp.231-235
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• 2004

본 연구의 목적은 물 순환의 한 부분을 이루는 지하수에 대한 순환과정을 파악하는 것이다. 이를 위해 금강유역의 10개 지하수 소유역에 대해 지하수 함양량 및 유출량을 추정하였으려, 강수량, 하천유출량 및 증발산량과의 비교를 통해 거시적인 지하수 물 순환 분석을 수행하였다. 각 소유역에서의 지하수 함양량 및 유출량은 하천의 일유출 수문곡선으로부터 추정하는 방법을 이용하였으며, 토양수분 저류구조를 갖는 탱크모형을 이용하여 자 소유역별 하천유출량을 생성한 후 생성된 유출량을 분석하여 함양량 및 유출량에 대한 각 소유역별 특성치를 분석하였다. 분석결과 지하수 함양은 봄철부터 여름철까지 지속적으로 상승하는 형태를 나타내고 있었으며, 가을철에는 매우 작은 함양량을 나타내고 있었다. 지하수 유출의 경우에는 다른 계절에 비해 여름철에 상대적으로 많은 양의 유출을 보이고 있었으며, 나머지 다른 계절에는 상대적으로 유사한 크기의 유출을 보이고 있었다. 또한 모형을 통해 분석된 연간 지하수 함양량과 유출량은 매우 유사한 값을 나타내고 있었으며, 총 강수량과의 비교에서도 과거 연구결과와 유사한 길과를 나타내고 있었다. 따라서 본 연구에서 제시된 유역 내 지하수 물 순환의 정량적 해석은 지표수-지하수 연계 운영의 거시적 해석에 필요한 기본 정보를 줄 수 있을 것으로 판단된다.

• KDI Journal of Economic Policy
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• v.20 no.3_4
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• pp.63-109
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• 1998

주주와 기업경영자의 대리인관계에서 대주주가 경영자를 감시 감독하는 역할을 항상 하는 것은 아니다. 기업의 주주는 동질적이 아닐 수 있으며, 특히 지배 대주주와 외부주주의 이해관계는 상이할 수 있다. 소유지분이 높아지고 기업에 대한 영향이 증가하는 경우 이를 이용하여 주주들이 자신들의 사익을 추구하고자 할 수 있다. 기업경영 및 의사결정을 자신들의 사적이익에 부합되는 방향으로 유도하기 위하여 주주들은 경영자에게 높은 보수를 제공하는 방법 등으로 경영자와의 담합관계를 추구할 수 있다. 대주주가 경영자와의 담합관계를 추구하는 경우 기업경영의 주목적이 기업주식가격상승 또는 배당금증가에서 멀어지므로 기업의 수익성은 감소할 수 있다. 본 연구는 1982년부터 1992년간 일본 제조업분야의 상장기업을 통해 기관투자자들의 소유지분과 경영자의 보수 그리고 기업성과와의 관계를 살펴보았다. 주거래은행을 중심으로 금융기관투자자는 기업의 주요 채권자인 동시에 소유주로서 일반주주와는 상반된 이해관계를 가지고 있다. 본 연구는 금융기관의 소유지분이 강화됨에 따라 기업경영자의 급여가 성과급이 아닌 고정급의 형태를 통해 증가함을 보여주고 있다. 또한 기업이 차입금에 대하여 지불하는 이자율이 상승할수록 기업경영자의 급여는 증가함을 보여준다. 그리고 금융기관의 소유지분이 높은 기업의 수익성이 낮음을 보여주고 있다. 이런 결과는 1980년대 자본 자유화와 더불어 자본공급자로서의 위치가 약해진 금융기관과 기업과의 관계를 시사하고 있다. 기업수익성보다는 금융기관에게 주요 채권자로서의 위치와 상대적으로 높은 수익성을 보장하도록 경영자의 인센티브급여계약이 설계되었음을 의미한다. 또한 많은 기업들이 주거래은행의 전직 경영자를 이사 또는 최고경영자로 임명하고 있는 사실을 고려할 때, 금융기관 경영자와 기업경영자간의 담합관계를 암시하기도 한다.

• Land and Housing Review
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• v.12 no.4
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• pp.31-40
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• 2021

In the present article we examine life-cycle housing demand for Korea. Distinguished in this work from prior research is the consideration of non-monocinity in the life-cycle housing demand. To this end, we adopt spline logistic regression models. Our findings suggest that life-cyclicity is most clear in Korean housing demand; namely, 1) small (mid-large) house ownership falls (grows) dramatically as households age into middle aged; 2) middle aged households do not participate in the rental or purchase market actively; 3) elderly population does not dispose of their housing to the same extent as younger generations acquire housing.

• Korean Business Review
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• v.18 no.1
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• pp.19-41
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• 2005

The informativeness of accounting earnings to investors may be used as a measure of the quality of accounting information. The ownership structure is considered to be related to both of two variables, the reliability of earnings reflecting the economic performance of the enterprise and the existence of alternative information sources. Earnings manipulation may mitigate the correlation between accounting earnings and the economic performance and alternative information sources decrease the value of accounting earnings as an information. Thus ownership structure could influence the informativeness of accounting earnings. This paper classifies ownership into three categories, management or inside ownership, institutional investors and large outside blockholders, and diffuse outside ownership and examines theoretically the difference of information effectiveness under each ownership structure. The earnings manipulation hypothesis supports the assertion that the separation of ownership from control motivates earnings manipulation. And differential information hypothesis suggests that more non-accounting information of firms with institutional or concentrated outside ownership is provided. Outside blockholders have alternative information sources that make accounting manipulation ineffective. While most previous studies have examined the effect of ownership on the informativeness of earnings from earnings manipulation hypothesis, this study is motivated by both earnings manipulation hypothesis and differential information hypothesis.

• Journal of the Korean association of regional geographers
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• v.7 no.1
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• pp.1-20
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• 2001

This study explored the changes of the patterns of land use and the social patterns of ownership of Kumnamno in Kwangju under the rule of Japanese colonialism by analyzing the townscape of Kumnamno in terms of the form and function of it. The research was done considering three periods: the year of 1912, 1930 and 1945. Kumnamno is the name of the street as well as the legal district name, and includes Kumnamno 1-ga, 2-ga, 3-ga, 4-ga and 5-ga. In the year 1912, Kumnamno was utilized as land, farmland and road. With the increase in population and the urbanization of the Kwangju area, it gradually began to be changed into land. By 1941, it was completely turned into land. Before and after the year 1910, the streets intersecting the Kumnamno area came into being as the roads of the Kwangju town, and were built with a lattice pattern. The road building of the Kumnamno began in accordance with the building of Kwangju station in 1922. The road building linking Kwangju Station to Chonnam Provincial Hall marked the first appearance of Kumnamno. The block from Ku-sung-no to Kumnamno 3-ga was built in 1925, the block from Kumnamno 3-ga to 2-ga in 1921, and Kumnamno 1-ga in 1930. It was not until the year 1933 that the construction of streets ranging from Ku-sung-no through Kumnamno 5-ga was finished. Examining the land ownership of the Kumnamno area in 1912, the Japanese possessed the land of Kumnamno 1-ga, 2-ga and 3-ga on the one hand and the Koreans possessed the land of 4-ga and 5-ga on the other hand. In 1930, the Japanese enlarged their sphere of influence and controlled the land located in all the areas of Kumnamno, and the Koreans reduced their ownership of Kumnamno 4-ga and 5-ga. There was a tendency for companies to occupy the land rapidly. In 1945, while the land owned by the Japanese decreased and the land owned by the Koreans did not change in quantity, the possessions of companies increased. To summarize, the Kumnamno area had some changes in the use of land during the above mentioned period. This was in part due to the construction of a street linking Kwangju Station to Chonnam Provincial Hall in order to strengthen the authority of the Japanese Government-General of Korea, as well as the expansion of the residential zone with the increase of the population of Kwangju.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.1
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• pp.29-36
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• 2013

So many researchers have been interested in key success factors of technological start-ups. However, previous studies have not focussed on Concreteness of technological capabilities at the growth stages and industry in technological start-ups. The purpose of this study is to investigate the Concreteness of technological capabilities that have influence on performance of technological start-ups. Empirical data was collected from 342 firms in BI in Korea. It used the questionnaire method for the CEO, It is executed the Regression analysis to test hypotheses of influencing effects. Results of the hypothesis testing are summarized as follows: First, It was found that technological capabilities had statistically significant influence on firm performance. But the property based resources had lower significant influence. Second, This research found that the knowledge based resources had higher significant influence on technological start-ups performance at IT industry. Third, The knowledge based resources had higher significant influence on performance at growth stages. In conclusion, technological capabilities were verified as important firm resources of technology-based start-ups for firm performance. But the Concreteness of technological capabilities was significant differences by growth-stage of firms.

• Journal of the Korea Convergence Society
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• v.10 no.4
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• pp.175-182
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• 2019

The purpose of this study is to test whether credit rating agencies highly evaluate the credit ratings of corporate bonds based upon management participation and ownership share by family governance in ownership structure forms. The samples of this study for empirical analysis were 1,449 non-financial companies listed on Korean Exchange from 2011 to 2016, over whose firm/year data this study conducted regression analysis. The results of empirical analysis in this study are as follows. First, family businesses had positive effects on the evaluation of corporate credit ratings. Second, if the ownership share of family businesses was higher, corporate credit ratings were higher. This result means that high ownership share in family businesses has very positive effects on the credit ratings of related businesses. It is meaningful that this study tested the effect that family businesses can alleviate agency problems and reduce information asymmetry. Furthermore, it is also academically meaningful that this study can contribute to future studies on the role of ownership structure.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.7 no.7
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• pp.599-608
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• 2017

This study investigated factors that are associated with companion animal ownership among urban elderly persons. This study was based on data from 2014 Seoul Survey, and a total of 4,717 people aged 60 years or older were selected for the analyses. Community level data were from 2014 Seoul statistics and they included park area per person, number of elderly recreational facilities, and number of public sports facilities based on 25 districts of Seoul Metropolitan City. This study examined differences between companion animal owners and non-owners concerning individual level factors and community level factors. Factors that are associated with companion animal ownership were examined using multilevel logistic regression analysis. Among individual level variables, companion animal ownership was associated with gender, marital status, income, number of household members, and housing type. Among community level variables, park area per person was a significant factor that is associated with companion animal ownership. Study findings can be used Based on study findings, implications of the study and directions for future research are discussed.

• Journal of Distribution Research
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• v.16 no.3
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• pp.33-75
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• 2011

The ownership structure of a franchise system is determined by the franchisor's strategic choice. A close look at the extant theories and perspectives in economics and management such as resource scarcity theory, agency theory, transaction cost analysis, and mixed ownership theory reveals that firms choose their ownership structure for the sake of economic efficiency, profit potentials, the chance of survival, and other strategic concerns. The present study, on the basis of strategic choice perspective, reviews the divergent theories of a franchise system's ownership structure and its determinants, thus providing a theoretical framework for comparing the contradictory arguments along the several critical dimensions. We also developed and tested the conflicting hypotheses regarding key determinants of ownership structure including firm's age, size, transaction-specific investments, uncertainty, and risk-sharing propensity. Using a FDD (Franchise Disclosure Document) data set of 543 Korean franchisors, we found that the years in business, the total number of employees, days of training, the inverse of the years of franchising, and the requirement of royalty payment have positive relationships with the proportion of company-owned outlets to total number of outlets. On the other hand, the proportion of company-owned outlets was found to have negative relationships with the total number of outlets and the extent of geographic dispersion of outlets, but to have no significant relationships with the initial investment required and the inverse of contract length. Based on the findings, we provide several theoretical and managerial implications for studying ownership structure of franchise systems.

• Journal of Digital Convergence
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• v.11 no.4
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• pp.177-188
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• 2013

This study examines how managerial ownership structure affects the borrower's choice of private versus public debt using 2,608 firm-year data for 2006-2008. This paper investigates the relationship between managerial ownership structure and debt choice. Managerial ownership is measured using number of stocks and unexercised stock-options and debt is classified public and private debt. The results find that there is a positive association between managerial ownership and the private debt dependence and also find that when firms finance additional funds, higher managerial ownership leads managers to choose private debt not public debt. Since private debt can be classified into bank debt and non bank debt, this paper examines the relationship between managerial ownership and a choice of bank debt. The results indicate that managers with higher ownership are more likely to use bank debt over public debt and non bank debt. By examining the relation between managerial ownership and a debt choice, this paper has following contributions. First, this study shows that managerial ownership affects the choice of the source of financing using three different proxies of managerial ownership. Second, this study classified private debt into bank debt and non-bank debt and provide the evidence of preference toward private debt especially bank debt among other financing sources. Finally, there are extensive studies related to capital structure and managerial ownership, but there is little empirical research on the debt choice and managerial ownership. Thus, this paper adds to literature by exploring the effects of managerial ownership on a debt choice.