• The Journal of the Korea Contents Association
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• v.17 no.1
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• pp.213-221
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• 2017

This study examines the influence of CEO(Chief Executive Officer) turnover on earnings management in public institutions. We classified sample into four portfolios based on the joint types of departing CEO(Forced/Voluntary) and incoming CEO(Expert/Nonexpert), and we explore whether earnings management are distinguishable depending on the types of CEO turnover. Empirical findings are summarized as following. The different patterns of earnings management are observed for each portfolio in the turnover year. In particular, when departing CEO leaves the company forcibly and incoming CEO is an expert in that business, there is an evidence of downward earnings management in the turnover year. This means that the incoming CEO takes a bath in his first year by recording big charges to shift blame for failed management on to the predecessor. The results documented in this paper provide an important implication for diverse interest groups participating in the CEO turnover decisions at the present time when normalization of management of public institutions is viewed more important than ever.

• Journal of Digital Contents Society
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• v.10 no.3
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• pp.401-411
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• 2009

This study focused on the crisis of local private broadcasting and political solution. The local private broadcasting has launched in 1995. Until now, local private broadcasting is successful in stable management and ensuring profit but it is attributed to a role of transmission pipe of SBS. However, this kind of syndication system has been a major problem of local private broadcasting and local private broadcasting has become weak and weak from outside impact. Presently broadcasting market has been changed very fast. It enters into unlimited competition era of multimedia and multichannel. However, especially local private broadcasting has both of public and private characteristics. Thus, local private broadcasting should not be hung by the wall any more. In this study administrative outcome of local private broadcasting will be analyzed and some hot political issues will be analyzed also then the political solution might be looked up at the same time. Now local private broadcasting also should be changed to totally new broadcasting company pursuing creative local contents and new digital concept.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.85-94
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• 2009

For the purpose of analysing the capability (knowledge, experience, and ability) of CM at Risk in the major construction company in korea, this study performed questionnaire survey with experts in the companies. Based on the analysis of the survey, the study was found as follows. 1) It is needed to increase the capability of preconstruction services, such as project management plan/manual, contract documents, value engineering, alternative analysis, time management, and claim. 2) Despite of gap of the capability between the present and the future CM services, the study concluded that the capability is sufficient to perform CM at Risk project in the major construction company.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.494-504
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• 2021

The spread of Over-The-Top (OTT) service, which represents Netflix, and the social distancing caused by COVID-19, acted as an overall bad news for domestic multiplex movie theaters. In addition to this, the phenomenon of digital shifting was added, and the need for domestic offline movie theaters to seek a new market for growth emerged. This study focused on the concept of consumer value perception amid this problem consciousness, and attempted to investigate the relationship between the brand image of multiplex movie theaters and purchase satisfaction according to the type of consumer value perception. After data was sampled through a questionnaire survey to a total of 350 subjects, the results of empirical analysis according to the study model are as follows. Among the types of value perception of offline movie viewers, practicality had the strongest influence on brand image construction, and self-faithfulness had the strongest influence on purchase satisfaction of offline movie watching. In addition, the brand image of offline movie theaters had a positive(+) effect on the purchase satisfaction of moviegoers. Based on this, this study suggested a new survival strategy in the new normal era of offline Multiplex Cinemas.

• Journal of Korea Port Economic Association
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• v.27 no.1
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• pp.213-234
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• 2011

The literature on efficiency of the maritime and shipping industry has typically focused on container ports and terminals. The study presented in this paper uses data envelopment analysis to evaluate ocean carriers based on financial and operational data from 2004 to 2007. A comparison is made up of the efficiency of global ocean carriers in efficiency of financial and operational performance respectively. A positive correlation is shown between the input and output data. In the static-efficiency analysis, we describe CCR, BCC and scale efficiency of Global Ocean Carriers in 2007. And we also provide about the stability and trend of their efficiency for four years (2004-2007) in the dynamic-efficiency analysis. The empirical results validate the necessity of restoring freight rates to facilitate the efficiency of the global ocean carriers supported by adjust of the supply of containership space. The study provides a basis for estimating the competitiveness of international shipping companies, for benchmarking best practice and for identifying the specific factors and causes of inefficiency.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.25-31
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• 2017

The objective of this study is to find the failure factors of venture companies. We analyze 210 troubled venture companies, all of which have been under guarantee from the Korea Technology Finance Corporation over the last three years. Methods of analysis for failure factors are as follows. First, we categorize the failure factors into the four different types based on growth and profitability indicators in the financial statements of targeted venture companies. Then we analyzed the failure factors of the subject companies based on the troubled guarantee reports made by the Korea Technology Finance Corporation. If a venture company under its guarantee program falls into insolvency, the Korea Technology Finance Corporation make the troubled guarantee report to find out the failure factors and evaluate the recovery potentials. We identify 374 failure factors of venture companies through the analysis. The most prominent among them are deteriorating of business environments (79 factors) and decreasing or withdrawing orders from major suppliers (54 factors) due to bankruptcies or change in business plans. They are followed by slowing collection of accounts receivable (31 factors), dropping or frozen product price (24 factors) due to intensifying competition and escalating pressures from major suppliers, rising raw material costs both at home and abroad (21 factors). In addition, the nuclear power plant disaster in Japan, shut-down of the Kaesong Industrial Complex and subsequent lawsuits, delay in technology development projects, high cost-low efficiency management structure, etc., are also revealed as new factors causing trouble for venture companies.

• 한국유가공학회:학술대회논문집
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• 2005.06a
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• pp.107-116
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• 2005

최근 사회의 다변화, 고령화 및 소비자의 다양한 욕구 증대 등으로 인하여 세분화된 소비계층을 겨냥한 다양한 신제품들이 출시, 판매되고 있는 반면, 일반 백색시유를 제외하고는 제품의 라이프사이클이 크게 줄어드는 경향을 보이고 있다. 건강기능식품 시대의 도래와 함께 첨단 기능성 소재들이 속속 등장하고 있으며, 유가공업계도 이들 소재를 응용한 연구개발과 공정개선을 통한 신제품 출시에 박차를 가하고 있다. 그러나 음용유 시장에서 절대적인 비중을 차지하고 있는 시유부문은 저출산율과 수입개방 등의 악재로 인하여 점차적인 감소 추세에 접어들고 있다. 따라서 국내 유가공업체는 원유소비 증대와 유제품 경쟁력을 확보하기 위해 유제품의 다양화, 고급화를 위한 기술개발 및 유제품의 적극적인 홍보 등의 전략이 필수적이다. 이를 위해서는 종래 단순가공에 의한 유제품 생산에서 탈피하여 새로운 공정 개발, 신물질 탐색 등으로 생산비 절감, 수율 증대, 다양한 형태의 유제품 개발, 그리고 기능성 소재의 탐색 등 건강 지향적 기능성 식품 개발에 노력을 해야 할 것이며 국공립 및 사립대학교 및 정부 출연기관과 일반 유업체의 공동과제 실시 확대로 기능성 식품에 대한인식제고가 필요할 것이다. 또한, TV 매체를 통한 홍보, 우유의 교과서 반영, 자조금 활성화 등으로 어릴 때부터 우유 먹는 습관을 형성하여 시유 소비기반 확대를 도모해야 할 것임과 아울러 교육당국과 협력하여 학생과 영양교사를 대상으로 한 우유에 대한 체계적인 교육프로그램 실시 및 중 ·고등학교 급식화대 추진 등 관련 기관과의 협력체계 구축을 통한 낙농진흥활동을 전개하여야 한다.유아의 창의성수준을 더 높게 평가하였다. 그러나 아버지와 교사간 평가의 상관은 유의하지 않았는데 이는 아버지의 평가수준이 매우 객관적인 것은 아님을 시사한다. 셋째, 창의적인 유아와 일반 유아 아버지 양육태도에서는 유의한 차이를 보였는데 특히 애정-적대요인과 자율-통제요인에서 창의적인 유아와 일반 유아간의 차이가 있는 것으로 나타났다. 넷째, 유아의 창의성과 아버지 양육태도간의 상관관계분석결과 애정적 양육태도와 유창성, 독창성간의 상관이 유의하였다. 집단별 분석시 창의적인 유아를 둔 아버지의 양육태도와 유아의 창의성간에는 상관이 없는 것으로 나타났고, 일반 유아의 아버지 양육태도와 유아의 창의성간의 상관에서는 아버지 양육태도의 성취-비성취 요인에서와 창의성제목의 추상성요인에서 상관이 있는 것으로 나타났다. 따라서 창의성이 높은 아동의 아버지의 양육태도는 일반 유아의 아버지와 보다 더 애정적이며 자율성이 높지만 창의성이 높은 아동의 집단내에서 창의성에 특별한 영향을 더 미치는 아버지의 양육방식은 발견되지 않았다. 반면 일반 유아의 경우 아버지의 성취지향성이 낮을 때 자녀의 창의성을 향상시킬 수 있는 것으로 나타났다. 이상에서 자녀의 창의성을 향상시키는 중요한 양육차원은 애정성이나 비성취지향성으로 나타나고 있어 정서적인 측면의 지원인 것으로 밝혀졌다.징에서 나타나는 AD-SR맥락의 반성적 탐구가 자주 나타났다. 반성적 탐구 척도 두 그룹을 비교 했을 때 CON 상호작용의 특징이 낮게 나타나는 N그룹이 양적으로 그리고 내용적으로 더 의미 있는 반성적 탐구를 했다용을 지원하는 홈페이지를 만들어 자료 제공 사이트에 대한 메타

• Management & Information Systems Review
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• v.33 no.4
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• pp.21-38
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• 2014

This study investigates whether and how a firm's cost of equity is influenced by the extent of a firms's name change. Even though corporate name change doesn't give any benefit to investors, it can be a signaling about firm's future valuation. And also, if that signaling has high credibility, it can be decrease information cost and the firm's cost of equity. on the contrary to this, if corporate name change is kind of break with the past and corporate image laundering, it is bad signaling to investors. So it can be increase information risk and the firm's cost of equity. Using yearly cross-sectional regressions of the cost of equity on our proxies for corporate name change, size, beta, market-to-book ratio and other innate risk factor over the 2005-2010, we find that the cost of capital is positively associated with corporate name change after controlling for all other factors. This result implies that corporate name change increase information risk of the business, and thus increase information asymmetries between managers and outside investors with respect to a firm's true future value. This increases information risk, and creates an adverse selection problem, on the part of outside investors. Rational investors therefore demand a premium for bearing this corporate name change-related information risk, which in turn leads us to observe a positive relation between the intensity of corporate name change and the cost of equity.

• Management & Information Systems Review
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• v.32 no.1
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• pp.259-272
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• 2013

This Paper document that managers' cash compensation is more sensitive to negative stock return than positive stock return. Also, this paper analyse that managers' cash compensation react symmetrically to accounting earnings and losses. Since stock returns include both unrealized gains and unrealized losses, we expect managers' cash compensation to be less sensitive to stock returns when returns contain unrealized gains(positive returns) than when returns contain unrealized losses(negative returns). But accounting earnings exclude unrealized gains and include unrealized losses, so managers' cash compensation will react symmetrically to accounting earnings and losses. Analyzing 5,815 firm-year data for 2000-2011, we find that managers' cash compensation reacts asymmetrically to stock retruns whereas managers' cash compensation reacts symmetrically to accounting performance. This finding is consistent with boards of directors seeking to mitigate ex post settling up problem that would arise of managers' cash compensation was equally sensitive to positive and negative stock return.

• Korean Journal of Construction Engineering and Management
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• v.10 no.6
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• pp.146-153
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• 2009

The year 2008 was a hard year for Korea's construction companies. The real estate downturn resulted in halting new construction and stopping existing work, and inflation of global oil prices caused price hikes in rebar and concrete materials. As a solution to reducing the budget, the newly appointed government announced plans to increase low cost bid contracts from 10 billion to 30 billion won. When such economical and political factors negatively impact the construction market, projects based on low cost contracts are the hardest hit. Many problems already inherent in low cost bid contracts become accentuated. Consequently, this provides an opportune time to actually study and analyze the issues in these projects. This paper introduces the findings made from investigating four projects struggling to make ends meet in the year 2008. Results show that flow of cash (i.e., liquidity), or lack thereof, was the root cause which in turn was hampered by failed mechanisms for design changes, material inflation. Attributing cash flow risk to the bottom of the production structure (i.e., small business subcontractors) was also a problem within the industry. Contractors need a better way to prepare against material price fluctuations, and owners need to assist in expediting payment during times of extreme downturn.