• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.1-29
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• 2009

Since convertible debt has both characteristics of stocks and bonds, its issuance can be related to both interests of stockholders and bondholders. Nevertheless, the existing studies focused mainly on the wealth effect on stockholders. In this paper we revisit the hypotheses on the issue of convertible debt especially from the viewpoint of a firm's growth, by making an additional investigation into bondholders' wealth effects. We find that stockholders' wealth increases with bondholders' wealth in the firm whose book-to-market ratio is low and thus is considered a growth firm. This finding seems consistent with the hypothesis in which the issue of convertible debt mitigates the agency cost of debt in the high-growth firm.

• Journal of Labour Economics
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• v.27 no.3
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• pp.1-23
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• 2004

To investigate the interdependence of the decisions on when to retire and how much consume before and after retirement, we compare the pre- (or post-) retirement consumption conditioned on the retirement decision with pre- (or post-) retirement consumption regardless of retirement decision by using the Korea Labor and Income Panel Study(KLIPS). We employ the two-stage switching regression for the econometric method to investigate the interdependence of two decisions of retirement and pre- or post retirement consumption. Then we test the existence of the interdependence in terms of the significance of the estimated selection biases which appear in the pre- (post-) retirement consumption equations for early and late retirees. In those equations, we also compare the income elasticity of the consumption of the early retirees with that of the late retirees. The empirical results show that there is negative selection bias in early retirees' consumption. These results imply that due to the early retirement decision early retirees would have consumed less than they actually have. The income elasticities of the consumption of the early retirees is smaller than that of the late retirees in pre- (or post-) retirement consumption equation. This result shows that relatively longer retirement period due 10 the early retirement affect the pre-retirement consumption. early retirees' marginal propensity to consume should be lower than that of the late retirees.

• Journal of Industrial Convergence
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• v.20 no.1
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• pp.23-33
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• 2022

The study was conducted to develop an implementation model for digital transformation (DX) of manufacturing companies. To this end, previous studies on the process of management innovation and digital transformation were reviewed. The DX process model was derived based on the NEBIC theory and innovation theory applied in the innovation process of the Internet business. In addition, a research model including the factors of the will of the top management class (TMT) was constructed and confirmed through empirical data. The research hypothesis were verified based on data collected from members of mid-sized manufacturing companies promoting digital transformation. Through regression analysis, the influence relationship of each stage of the research model (technical knowledge, TK → opportunity perception, OR → performace expectation, PE and → Intention to execute, IE) was confirmed. Hierarchical regression analysis was conducted to understand the mediating effect of the members' perception of the top management's willingness to promote DX in the process. As a result of checking the Sobel test, it was confirmed that the management's perception of DX promotion partially mediated the relationship at each stage. This study is meaningful in that it presented a model applicable to the digital transformation of the mid-sized manufacturing industry. It is also valuable in providing an empirical basis for innovative research and NEBIC expansion. Longitudinal studies are required to overcome the limitations of empirical data for process models with dynamic characteristics whereas extended empirical studies are required in various fields other than manufacturing to generalize research results.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.28 no.2B
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• pp.157-169
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• 2003

The customer retention is one of major goals for telecommunication service providers as MNP(Mobile Number Portability) would be enforced soon. The purpose of this study is to construct a customer retention model by (1) extracting the statistically significant determinants that influence on the Out-bounding churn and In-bounding churn separately and (2) ranking the importance of sub-factors to minimize Out-bounding churn and to satisfy In-bounding churn. This model applies to domestic wireless telecommunication service providers and customer retention strategies are suggested based on the result.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.1-39
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• 2003

Using a comprehensive sample of convertible security offerings by Korean firms from 1981 to 1999, we examine the effect of convertible bond issues on firm value. We find that the announcement of convertible bond issues has a positive effect on firm value. However, the announcement of private convertible bond issues by chaebol firms has a significant negative effect on their market values. This result is different from that in Japan, suggesting that the efficiency of the financing decision by Korean chaebol is different from that by Japanese keiretsu. In addition, we find that the announcement effect of private convertible bond issues by chaebol firms has a significant relation with the corporate governance variables such as ownership structure, bank relationship. These results indicate that convertible bond issues can be used as a mechanism for chaebol owner-manager to give rise agency problems at the expense of the wealth of minority shareholders.

• Journal of the Korea Convergence Society
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• v.6 no.4
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• pp.121-126
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• 2015

Korea Youth Panel (2008) has 2 panels of the 5th year of Knowledge data to perform statistical analysis and regression analysis, the risk factors in the risk conditions of the family of functional deficits, protective factors, the relationship between the mediating effect of psychological adaptation and protective factors verification mechanisms and the psychological adaptation level it is an objective to analyze the protective factors that protect the high youth. To investigate the differences by frequency analysis and personal characteristics of the analyte's was performed t test using PASW (Predictive Analytics Software) 18.0. And to verify the effect of the parameters is performed rank regression analysis for verification of the effects of protection factors for adaptation. Rather than focusing on youth risk factors in social welfare practice field, focusing on processes and protective factors to reduce the risk factors, it is possible to convert the viewpoint overlooking the youth exposed to risk factors. Also, for young people experiencing difficulties that features loss of the family, it is determined that the prepared foundation which can be provided in the direction of social welfare practical intervention.

• Journal of the Korea Convergence Society
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• v.11 no.4
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• pp.143-149
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• 2020

Many users enjoy a location-based augmented reality game such as Pokémon GO. From the perspective of attachment, this paper investigated the antecedents of Pokémon GO use. A total of 182 responses from Pokemon Go users was collected through an online survey. The result of regression analysis showed that attitude toward game characters, social interaction, competition, and physical activity increased attachment to game. Attention switching, however, decreased attachment to the game. This study suggested that attachment to mobile augmented games could be achieved through social interaction, competition, and physical activity. Implications for researchers and practitioners were discussed.

• Journal of Korea Port Economic Association
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• v.37 no.4
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• pp.89-102
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• 2021

The purpose of this paper is to study the impact of shipping service firm's perceived relational benefits on switching barriers and loyalty focusing on tug boat service. To achieve the purpose of the research, literature survey on existing literature, thesis, research report is performed and also reliability analysis, validity test and multiple regression analysis using SPSSWIN 18.0 is used in this research. To verify a research model and hypothesis, a questionnaire survey among employees of shipping companies and shipping agencies was executed. 76 copies of total 200 copies of questionnaires were collected and the number of questionnaire used for empirical analysis was 76 copies. The main results of the study are summarized as below. First, Hypothesis 1 "shipping service firm's perceived relational benefits has a positive impact on the switching barrier" was supported by this study. Second, Hypothesis 2 "shipping service firm's perceived relational benefits has a positive impact on the loyalty" was supported in this research. Finally, Hypothesis 3 "switching barrier has a positive impact on the customer's loyalty" was also supported. Further research can be extended by adding more questionnaires including more shipping service firms all over the nation.

• Journal of the Korean Society for Railway
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• v.17 no.5
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• pp.381-389
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• 2014

This research focuses on the current trend of 'Sharing Transportation' to clarify the regional factors having a decisive effect on the use of Car Sharing. To accomplish this, the current research is built a Database of the regional characteristics of Car Sharing spots based on railway stations in Seoul and performed an analysis of the primary regional factors affecting Car Sharing usage. As a result, we found conclusive factors affecting the use of Car Sharing. This research can be utilized for establishing strategies and effective measures to support the use of Car Sharing and sustainable development with respect to issues of motorization.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.3
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• pp.379-389
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• 2022

The number of public transportation users has dropped drastically due to COVID-19. In this work, my survey was conducted to uncover the factors that influence citizens' travel patterns. Data were collected and logistic regression analysis on the shifts in transportation was undertaken. Additionally, an importance-performance analysis was carried out to investigate how to effectively operate public transportation systems and improve facilities. The main research findings were as follows: First, the more individuals were concerned about COVID-19 (+) and being infected when using public transportation (+), the greater the tendency to switch to private transportation modes. Secondly, when it came to personal traits, respondents who could drive a car (+) or owned a car (+)or did more online shopping (+) or used public transportation for trips (+) tended to switch over, compared with respondents who could not drive or did not own a caror used public transportation to commute. In addition, respondents who were vaccinated (-) or had more household members tended not to switch transportation modes, compared with those who were not vaccinated or had fewer household members. Third, it is important to continue the following efforts to safeguardhygiene linked to public transportation: wearing masks, disinfecting hands, controlling diseases, and general cleaning. The conclusion was that it is important to put traffic congestion and ventilation issues first, especially in regards public transportation, which was not rated as satisfactory enough compared to its importance. The research findings can provide useful basic data when establishing countermeasures to the current COVID-19 circumstances in the areas of public transportation operation and management and in the event of an infectious disease outbreak in the future.