• Journal of Digital Convergence
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• v.16 no.12
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• pp.163-173
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• 2018

This study examined the difference between the information asymmetry in pre- and post K-IFRS adoption used each samples. Efficient market assumption suggests that capital markets already have recognized real value of PP&E and applied those values for estimating the item, in which case PP&E revaluation is not additional information in the capital market but simply an activity to makes costs. This study examined whether the information asymmetry had reduced significantly after adopting K-IFRS or not, verified each period samples those are pre- and post-adopting the asset revaluation since it could have been adopted in advance from 2008. As study results, I confirmed PP&E revaluation affected to reduce the information asymmetry in pre- adopting K-IFRS, but not in post- adopting K-IFRS. These results could be one of proofs which are supported that capital market have been judging PP&E revaluation as the window dressing.

• Management & Information Systems Review
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• v.29 no.4
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• pp.1-22
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• 2010

There have been arguments in Korea that fair value accounting system improves quality of accounting information through the asset revaluation. These arguments are based on the fact that investors prefer fair value to cost value information. Others argue that cost principles may offer more proper information to the investors because financial statements applied the cost principles are more objective and thus more reliable. Prior researches focused mainly on the motives of asset revaluation but I examined the effects of the tangible asset revaluation on the stock prices. The empirical findings indicate that : (1) the gains on the tangible asset revaluation are positively correlated with the stock prices; (2) the net book values applied the cost principles explain stock prices better than the net book values applied fair values. My findings suggest that the gains on the tangible asset revaluation constitute a part of the firms' values but the accounting informations measured fair value are not always useful to the investors in the capital market.

• 월간 기계설비
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• s.12
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• pp.92-94
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• 1991

• KDI Journal of Economic Policy
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• v.7 no.4
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• pp.2-13
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• 1985

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.52
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• pp.221-228
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• 1999

The purpose of this paper is to see whether the improvement on the financial structure through the asset revaluation is temporary or not. The financial structure of the companies which revalue the asset was improved for the revaluating year, but the financial structure worsened in the next year. Therefore, I can infer that the asset revaluation is carried out to supply their capital by enterprises.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.21 no.46
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• pp.167-172
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• 1998

Under serious inflation, there has been a considerable gap between book value and market value. To improve this gap, asset revaluation has been implementing in Korea. This paper investigates firms' motives of asset revaluation. The result of empirical tests may be summarized as follow : The corporations listed in Korea Stock Exchange revaluate their assets in order to borrow money owing to good financial structures. Based on this result, the asset revaluation law would be necessary to review.

• Journal of Digital Convergence
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• v.16 no.9
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• pp.125-132
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• 2018

Despite the fact that corporate real estate ratio accounts for a considerable proportion of the assets, such researches and studies are lacking and there is not enough such policies to utilize real estate more effectively in Korea. In particular, after IFRS adoption, the owner and manager needs to utilize corporate real estate assets as the assets are revalued. In this study, we analyzed the relationship between corporate governance, corporate real estate holding policies and firm value based on financial data from 2010 to 2016. As a result of regression analysis, this study showed that more Dictatorship Portfolio, the higher proportion of corporate real estate holdings. Next, the higher proportion of corporate real estate holdings, the lower the firm value. This study suggests that corporate real estate is recognized an important factor and should have proper holding ratio. I will continue my research to show that the corporate holding policies are an important asset impact by verifying the mediating effect between corporate governance and firm value in the future.

• Convergence Security Journal
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• v.20 no.5
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• pp.75-80
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• 2020

Damage caused by ransomware has continued to increase since last year, but cyber operations are managed without any separate classification of ransomware types in the military's guidelines for carrying out cyber operations. However, unlike other malware, ransomware is a threat that could paralyze all defense operations in one moment, and the military should reevaluate ransomware and take countermeasures. Accordingly, this paper aims to analyze the assets, vulnerabilities, and threats related to defense information service based on information security risk management, and propose alternatives to ensure continuity of defense work from ransomware threats.

• Journal of Digital Convergence
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• v.13 no.9
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• pp.57-75
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• 2015

The study introduces the case of initial adoption and convergence of accounting system under the K-IFRS by the quasi-government entity, the National Research Foundation of Korea(NRF). Followings are the methodology used in the study. (1) The study provides several accounting issues, their impact on the financial information of the NRF and implications about NRF's financial information in the course of convergence of accounting system under the K-IFRS. (2) As examples of accounting issues, the NRF reflected several accounting difference such as revaluation of fixed assets, economic useful life, depreciation method, reclassification of investment, representation of transfer revenue from the government, the timing of revenue recognition, and employ benefits, etc. As results of adjustments under the K-IFRS, the NRF decreased 1,109 billion of total assets and 1,064 billion of total liabilities. Also, increase in operating expenses results a slight decrease in net income, which may have an impact on future management evaluation of the NRF. A successful case of K-IFRS adoption by the NRF which brings deep insight on adoption and convergence of new accounting system to other quasi-government entity.

• Journal of Korean Philosophical Society
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• v.126
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• pp.213-233
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• 2013

The aim of this paper is to reveal the ethical problem of insider trading. 'Insider trading' refer to obtaining information from non-public sources such as private acquaintances about trade secret, using it purposes of enhancing insider's financial advantages. And sometimes such a practice can be conducted fraudulently. Therefore, the focus of this paper will be on fairness or justice arguments against insider trading. And all kinds of discussion this paper are to focus the underlying consideration behind these arguments, that is, the underlying consideration about violation of ethical standards of fairness. First, one of these arguments argues that insider trading does necessarily involve defrauding general investors such as general employees, general stockholders. And economic power and unjust advantage of insider can be exercised to the detriment of this non-insider's interests. Second, another argument argues that insider trading undermines competition which is the principle of any free market. And insider trading is not only a complication in the free market mechanism, but also thwarts free competition which free markets depend. Third, the final argument argues that insider trading will be made something unfair about the concept of equal access to information. This argument argues, therefore, that to permit insider trading would be to set up stock market trading rules that are unfair to non-insiders.