• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.123-138
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• 2016

This study investigates intents of acquisitions in information technology industries. Mergers and acquisitions are a strategic decision at corporate-level and have been an important tool for a firm to grow. Plenty of firms in information technology industries have acquired startups to increase production efficiency, expand customer base, or improve quality over the last decades. For example, Google has made about 200 acquisitions since 2001, Cisco has acquired about 210 firms since 1993, Oracle has made about 125 acquisitions since 1994, and Microsoft has acquired about 200 firms since 1987. Although there have been many existing papers that theoretically study intents or motivations of acquisitions, there are limited papers that empirically investigate them mainly because it is challenging to measure and quantify intents of M&As. This study examines the intent of acquisitions by measuring specific intents for M&A transactions. Using our measures of acquisition intents, we compare the intents by four acquisition types: (1) the acquisition where a hardware firm acquires a hardware firm, (2) the acquisition where a hardware firm acquires a software/IT service firm, (3) the acquisition where a software/IT service firm acquires a hardware firm, and (4) the acquisition where a software /IT service firm acquires a software/IT service firm. We presume that there are difference in reasons why a hardware firm acquires another hardware firm, why a hardware firm acquires a software firm, why a software/IT service firm acquires a hardware firm, and why a software/IT service firm acquires another software/IT service firm. Using data of the M&As in US IT industries, we identified major intents of the M&As. The acquisition intents are identified based on the press release of M&A announcements and measured with four categories. First, an acquirer may have intents of cost saving in operations by sharing common resources between the acquirer and the target. The cost saving can accrue from economies of scope and scale. Second, an acquirer may have intents of product enhancement/development. Knowledge and skills transferred from the target may enable the acquirer to enhance the product quality or to expand product lines. Third, an acquirer may have intents of gain additional customer base to expand the market, to penetrate the market, or to enter a foreign market. Fourth, a firm may acquire a target with intents of expanding customer channels. By complementing existing channel to the customer, the firm can increase its revenue. Our results show that acquirers have had intents of cost saving more in acquisitions between hardware companies than in acquisitions between software companies. Hardware firms are more likely to acquire with intents of product enhancement or development than software firms. Overall, the intent of product enhancement/development is the most frequent intent in all of the four acquisition types, and the intent of customer base expansion is the second. We also analyze our data with the classification of production-side intents and customer-side intents, which is based on activities of the value chain of a firm. Intents of cost saving operations and those of product enhancement/development can be viewed as production-side intents and intents of customer base expansion and those of expanding customer channels can be viewed as customer-side intents. Our analysis shows that the ratio between the number of customer-side intents and that of production-side intents is higher in acquisitions where a software firm is an acquirer than in the acquisitions where a hardware firm is an acquirer. This study can contribute to IS literature. First, this study provides insights in understanding M&As in IT industries by answering for question of why an IT firm intends to another IT firm. Second, this study also provides distribution of acquisition intents for acquisition types.

• Information Systems Review
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• v.11 no.2
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• pp.45-66
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• 2009

A number of companies are considering for merger and acquisition (M&A) as one of business strategies for their growth and survival. However, many of them do not create the synergy they had sought, and failed M&A, often result in negative outcomes in terms of productivity, market share, profitability and turnover of qualified employees. There have been numerous research studies conducted to analyze the factors that determine the success and failure of M&A, and it has been found that with the increasing dependence of many companies on information systems, post-M&A IS (information systems) integration success has a critical effect on the success of M&A. However, there have been very few studies on post-M&A IS integration success, and most have been restricted to integration of IS organizations or physical information systems. In order to conduct a comprehensive research on the factors that affect the success of post-M&A IS integration, this study surveyed preceding researches on not only information systems but also strategic management, economics, finance, HRM (human resource management) and organization management. Based on the findings, a comprehensive and integrated model of the influential factors on post-M&A IS integration has been proposed. The proposed model categorizes the factors into perspectives of M&A, strategy, organization, HRM and IS, and provides an empirical evaluation of each factor on the success of IS integration based on comparative case studies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.4
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• pp.91-100
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• 2019

Many university students try to start up a lot because of career uncertainty, and this study reflected this environmental situation. The subject of the study is the degree to which subjective norms of university students affect the start-up intention. In addition, we looked at the mediated effects of self-efficiency and the moderated effects of security competence. To verify the hypothesis of the study, 201 university students in Seoul were asked about the relevant variables. And based on prior theory, hypotheses and questionnaires were made. In addition, the validity, reliability and correlation analysis of each variable were conducted. Multiple regression analysis was used for hypothesis analysis. As a result, subjective norms have a positive effect on the start-up intention. Next, self-efficiency was found to be mediating the relationship between subjective norms and start-up intentions. Finally, when subjective norms affect the start-up intention, security competence showed negative moderate effect. The implications of this study are as follows: First, a positive perception of start-up by those around them is needed when it comes to raising the intention of starting a business. This positive perception also affects the confidence and sense of challenge in start-up and affects their start-up intention. However, if career anchor prefer stable employment for the organization, it can be seen that they negatively affect the start-up intention.

• The Journal of Small Business Innovation
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• v.19 no.4
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• pp.41-52
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• 2016

This paper examines the effect of unique underwriter lockup on the initial returns of an initial public offering (IPO) in the Korean Securities Dealers Automated Quotation (KOSDAQ). Underwriter lockup induces underwriters to underprice IPOs and stabilize aftermarket prices. The inducement is explored with respects to the mixtures of distributions of the initial returns consistent with underpricing and stabilization. Whether the inducement is meaningful when other factors are controlled is also explored. These explorations provide evidence that underwriter lockup leads to more positive average initial returns in the three aftermarket months.

• The Journal of Society for e-Business Studies
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• v.25 no.1
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• pp.215-228
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• 2020

M&As are continuing to grow globally and are expected to increase in the future. With the fourth industrial revolution and the strengthening of neo-protection trade between countries, technology is cited as the core of national competitiveness, and the trend of M&A's increase, which is aimed at securing technology, is expected to continue. However, the risk of technology leakage, which is difficult to determine clearly illegally in the process of M&A, is still growing, and there is not enough prevention or response to this problem. the purpose of this paper was to divide the M&A process into seven stages and to ensure that important information of the enterprises during M&A between the countries and the domestic companies was not leaked unfairly, and each step analyzed the risk factors and causes of the leakage of important information in the M&A process and presented a risk-specific management plan for minimizing the leakage of important information based on the importance of the risk factors. Companies that pursue M&A in the future will reflect the M&A step-by-step risk and risk management measures derived based on case analysis and expert surveys. I hope to use risk management measures to help minimize unintentional leakage of important corporate information into the outside.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.6
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• pp.39-49
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• 2016

As university students' job seeking stress and entrepreneurial intentions increase, the importance of variable research that can be applied to both concepts. However, recent studies researchers looked at only the influence variables in each concept. So they thought about the difference between entrepreneurship and employment. To solve these problems in this study was to verify the moderating effects of core-self evaluation in the relationship between entrepreneurial self-efficacy and entrepreneurial intention, job-seeking stress of university students. The data of 349 university students in korea were collected for the study. The collected data were analyzed with multi-regression modeling. All data collected from the survey were analyzed using with SPSS 21.0 The findings of the study were as follows. First, results showed that entrepreneurial self-efficacy affect entrepreneurial intention directly. Second, core-self evaluation affect job-seeking stress of university students. Finally, it was also found that there was moderating effect of core-self evaluation in relationship between entrepreneurial self-efficacy and job-seeking stress of university students. On the other hand it was found there was no moderating effect of core-self evaluation in relationship between entrepreneurial self-efficacy and entrepreneurial intention. Based on what has been learned through the analyses, The results of this study suggest that an educational system and institutional are needed to increase entrepreneurial efficacy. And It can be seen that the recognition of core self-evaluation is effective for the job seeking stress. Also, the implications and the limitations of the study were presented including some directions for future studies.

• Journal of the Korea Society of Computer and Information
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• v.7 no.2
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• pp.53-58
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• 2002

the popularity of uses for internet has been needed to information security. thereforce, intrusion, information leakage and modification, change or intentional efflux to computer system aspects of information security have been resulted in requirement of intrusion detection from outer at user authentication. this problem Presents design of PUM(Processing Unit Module) which analyze both the host log generated by sever host systems that various case for intellectualized intrusion method and network_packet on networks in large scale network.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.22 no.1
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• pp.291-310
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• 2023

This study explores the factors which affect user acceptance for Robo Taxi, an electricity-based Autonomous Vehicles based on a Value based Adoption Model. The three main factors of benefit (usefulness and enjoyment), sacrifice (technicality and perceived fee level), and user experience about mobility services such as car sharing, taxi, and autonomous vehicles, were finally selected as independent variables as a influential factors on perceived values and adoption intention of Robo taxi. The study found that usefulness, enjoyment, and perceived fee had a significant effects on adoption intention, and some user experiences had a significant effect on benefit factors. This study has important implications for incorporating the Value-based Adoption Model results into the service design for the activation of Robo taxi, and furthermore, they can provide a theoretical basis for effective use of the research findings.

• Journal of KIISE:Software and Applications
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• v.27 no.4
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• pp.342-356
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• 2000

We present a static analysis method to automatically generate test data that raise exceptions in input programs. Using the test data from our analysis, a programmer can check whether the raised exceptions are correctly handled with respect to the program's specification. For a given program, starting from the initial constraint that a particular raise expression should be executed, our analysis derives necessary constraints for its input variable. Correctness of our analysis assures that any value that satisfies the derived constraints for the input variable will activate the designated raise expression. In this paper, we formally present such an analysis for a first-order language with the ML-style exception handling constructs and algebraic data values, prove its correctness, and show a set of examples.

• Journal of the Korea Society of Computer and Information
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• v.16 no.2
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• pp.289-305
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• 2011

To efficiently analyze complex and voluminous data, OLAP systems increasingly provide functionalities for visual exploration of the data allowing end-users to navigate the desired view of the data cube. This paper only deals with data cubes whose schemas represented like the exclusive symmetric hierarchy which is not addressed by current OLAP implementations. This paper presents a conceptual classification of abstraction hierarchies, and an approach to navigating data cubes with a hierarchical visualization technique. The hierarchical visualization technique is developed by using the transitive closure of a binary relation. The approach is exemplified using a real-world study from the domain of national license administration.