• Management & Information Systems Review
• /
• v.34 no.2
• /
• pp.113-130
• /
• 2015

This study considers the relation between firms' earnings management and credit rating. Unlike preceding papers only focusing earnings management by accrual(thereafter, AM), this paper examines the effect of accrual earnings management(AMs) and real earning management(thereafter, RM) on credit rating. RMs have more negative effects on firms' forward cash flow generation abilities and long term operating performances than AMs. So, RMs are more negative signals for credit analysts than AMs. But credit analysts have much difficulty in seeing through RM, because if credit analysts want to find out RMs, they have to understand firms' internal operating activities, cost structures, receivables collection practices, and review whether profit distortions are due to abnormal change of them. Sample of this study consists of 2,150firm-year data listed companies from 2002 to 2010. Empirical evidence shows that AMs and RMs are negatively related to credit rating. This result implies that credit analysts see through AMs and RMs in interpreting financial informations, that is to say, they discount credit rating in considering level of earnings management that consist of real activity and accrual earning management. This paper also finds that RMs are more negatively related to credit ratings than AMs. This result suggests that credit analysts don't take RMs into account in credit rating process as much as AMs.

• The Journal of the Korea Contents Association
• /
• v.11 no.3
• /
• pp.230-240
• /
• 2011

A gallery provides the function to make opportunities for artist to meet the customers who would buy the products from them. And there was performed the place where artist who production provider, planner, managers and private collectors met to distribute artworks and to educate fine art for public and provide a chance sending leisure time. We investigated this galleries at old urban center in daegeon region by the deep interview and Delphi method. A galleries was operated by a sense of duty and pride. Though its environment is poor, it grows up the young artist and art trends. By delphi results, the role of gallery is recognized as the discovery of an unknown young artist and provider of art trend and paradigm. Also they was recognized as the space for social and cultural responsibility operation culture. Galleries was recognized as key factors as literary value, marketability and harmony between gallery and artworks. Artist was known as a key factors as gallery's expertise, gallery awareness and capacity for artworks selling. Gallery will be considered the functions as the various cultural experience space and culture service space. Although galleries are passive and one dimensional functions.

• Korean Journal of Ecology and Environment
• /
• v.42 no.3
• /
• pp.280-289
• /
• 2009

The fish communities and physical habitat conditions of fifteen tributaries of Lake Paldang in spring and autumn, 2008 were surveyed to evaluate the ecological health of the streams. The total 2,746 individuals were collected belonging to 11 families 31 genera 40 species. Two new species (Cottus koreanus, Gnathopogon strigaus) that have never been reported as yet in Lake Paldang watershed were found for the first time. The most dominant species in the tributaries was Acheilognathus yamatsutae (19.9%) which is Korean endemic species. Ecological health evaluation of fifteen tributaries using index of biological integrity (IBI) model for fish community and qualitative habitat evaluation index (QHEI) was performed. According th the IBI analysis, four streams (Siwoo-Stream, Jojong-Stream, Moonho-Stream and Mugab-Stream) were evaluated as "good" condition (B grade), Woosan-Stream were "poor" condition (D grade) and others were "fair" condition (C grade). Qualitative habitat evaluation index values of the four streams were the grade "II" indicating "good" condition and those of eleven streams were the grade "III", indicating 'fair' condition. On the whole, dataset of IBI and QHEI showed that ecological health of Jojong-Stream has been well maintained compared to other tributaries of Lake Paldang.

• Environmental and Resource Economics Review
• /
• v.14 no.3
• /
• pp.699-728
• /
• 2005

This article is basically an extension of Barten(1993), Brown et al. (1995), Holt and Bishop's(2002) price formation system. A new dynamic price formation system is attempted considering full rationality of the consumers' side. The underlying idea of the new dynamic price formation system is that consumers are rational and farsighted and thus consider past and future consumptions in addition to current consumption to accept the prices traders called. In an empirical application, the U.S. commercial fish demand data are particularly interesting to this analysis in which the species are over fished, including many of the most valuable species. Especially, the grouper-snapper complex are under management jurisdiction of the National Marine Fisheries Council. In the empirical section, it shows how to adapt the model to estimate the marginal values to consumers of commercial fisheries. Since it is conceived of regulations as inducing movements along the marginal value curves, it is of growing importance to regional and national policy makers who are confronted with competing claims on diminishing fish stocks by commercial fisheries interests. It performs well and shows the plausible signs and magnitudes of price flexibilities and interaction among species. It further contributes to the general methodology of applied economics.

• The Journal of the Korea Contents Association
• /
• v.22 no.7
• /
• pp.63-72
• /
• 2022

With the advent of cryptocurrencies such as Bitcoin in 2009, the paradigm of money, a means of payment, has been changing significantly. And it has a great impact on our daily lives. Thus central banks have attempted various analyzes on the issuance and impact of digital currencies including electronic payments but a study on which issuance method is suitable is insufficient. In this study, the issuance of digital currency was analyzed compared to the electronic payments which are currently used. As a result, the account-based model did not show any significant differences from the current RTGS(real-time gross settlement systems) and retail payment systems. But the token-based model is expected that it can improve the efficiency of finance and induce technological innovation in the financial field. However, it was analyzed that this model would weaken the intermediary function of financial institutions such as loans due to the characteristics of digital signature technology. In addition, in order to protect consumers against security attacks such as hacking and phishing of CBDCs, legal and institutional supports similar to the current electronic payment method are required, and continuous technology development efforts are also required for the CBDC issuance model to maintain convenience and anonymity equivalent to cash.

• Information Systems Review
• /
• v.19 no.2
• /
• pp.21-35
• /
• 2017

The advancement of IT and the "Fourth Industrial Revolution" blurred the boundary between industries. The importance of strategic cooperation between enterprises is emphasized. IT companies must consider their existing business areas and create new territories to drive changes in the industry. They must also secure their competitive edge and manage economic costs to enable them to compete with their global counterparts. By utilizing their resources effectively, these firms can create value through inter-firm cooperation. This study analyzes the collaborative network of global IT companies using social network analysis and examines the effect of this network on firm performance. Collaborative linkages and betweenness centrality, which represent the bridging position of a firm in a network, significantly affect firm performance. This result highlights the importance of the structural position of a firm in a cooperative network of IT companies. This study also characterizes clusters in a network of IT companies. Most of these clusters comprise a combination of IT companies in diverse IT industries. These clusters suggest that these companies engage in multilateral cooperation without boundaries to maximize their business capabilities. This study offers practical implications for establishing a cooperative strategy and framework that can capture business trends in the IT industry from a macroscopic view. This study also visualizes collaborative networks in a multifaceted way using social network analysis to provide researchers and business practitioners with an informative viewpoint.

• Journal of Distribution Research
• /
• v.13 no.1
• /
• pp.1-33
• /
• 2008

As the interest in the business-to-business(B2B) electronic commerce is increasing, many companies are participating in the B2B e-Marketplaces. The e-Marketplace is defined as the virtual market that many players take part in to transact. The e-Marketplace has an influenced on the manner in which organizational buyers and sellers interact. As a result, it is important to develop an understanding of the behaviors of firms that use these electronic marketplaces. The purpose of this study is to develop a comprehensive model for trust and commitment of B2B e-Marketplace and empirically to examine their structural relationships. Drawing from trust and commitment theory in the interorganizational relationship and B2B electronic commerce context, this study identifies network externality, interactivity, justice, quality of information sharing, institutional assurance as the determinants of trust and commitment of e-Marketplace. The proposed model hypothesized that (1) trust is a function of network externality, interactivity, justice, quality of information sharing, institutional assurance, (2) attitudinal and behavioral commitment is a function of trust, (3) behavioral commitment is a function of attitudinal commitment. The proposed model is tested using organizational-level survey data from 187 buying organizations that conduct business in MRO e-Marketplaces. The data were tested by reliability test, correlation analysis, exploratory factor analysis, confirmatory factor analysis and covariance structure analysis. The results indicate that (1) trust is influenced by network externality, interactivity, justice, institutional assurance, (2) attitudinal commitment and behavioral commitment is influenced by trust (3) behavioral commitment is influenced by attitudinal commitment. Also, the empirical results confirmed that trust play a strong, central role in determinging e-Marketplace commitment. The key theoretical contribution of this research is that it begins to extend interorganizational information system literature in areas such as B2B Internet e-Marketplace. Managerially, this study contributes tn the understanding of the role of B2B e-Markeplace providers in Internet situation. And Limitations of this study and guidelines for future researches are also discussed.

• Journal of the International Relations & Interdisciplinary Education
• /
• v.3 no.1
• /
• pp.1-28
• /
• 2023

This study was conducted to examine the quantitative trend of domestic studies in invention gifted education, identify the intrinsic meaning and connection attributes in these research analysis, and provide basic data to explore future development plans. To this end, 97 domestic academic papers were finally selected as "Invention Gifted Education" by the Korea Research and Information Service (RISS), technical statistical analysis was conducted with SPSS on publication year, author composition, researcher's affiliation and location area, and published journal. The trend, which had been on the rise since 2007, confirmed by academic papers on gifted education in invention, peaked at the time of the 3rd comprehensive plan for gifted education and has since declined again. As a result of technical statistical analysis of the author's characteristics, half of the papers were jointly published, followed by a number of independent authors. The papers published alone were identified as belonging to universities, research institutes, elementary schools, and middle schools, and the cooperative papers were many studies cooperated with young researchers and professional researchers, and only one collaborative study was conducted between young researchers. When looking at the regions and journals in which the Invention Gifted Education thesis was published, it was concentrated in some regions or journals, and the deviation was very large. As a result of language network analysis using academic paper keywords, creativity and programs were identified as meaningful keywords that showed top appearance, and the keyword pair with high co-appearance was invention gifted-creativity. The keyword of connection-centeredness at the top served as an intermediary for creativity, problem-solving, development, and company to expand to other research topics, and served as a research topic that could be expanded to various topics. In the case of mediation-centeredness, creativity, programs, and effects showed high mediation-centeredness, indicating that it is an important keyword that plays a role in mediating or mediating other keywords. Through these research results, national policy measures need to be prepared for the development of gifted education, and the need to create an invention ecological culture that can enhance teachers' expertise while increasing social responsibility for gifted education.

• Journal of KIISE:Software and Applications
• /
• v.28 no.2
• /
• pp.179-191
• /
• 2001

Comparison shopping is a merchant brokering process that finds the best price for the desired product from several Web-based online stores. To get a scalable comparison shopper, we need an agent that automatically constructs a simple information extraction procedure, called a wrapper, for each semi-structured store. Automatic construction of wrappers for HTML-based Web stores is difficult because HTML only defines how information is to be displayed, not what it means, and different stores employ different ways of manipulating customer queries and different presentation formats for displaying product descriptions. Wrapper induction has been suggested as a promising strategy for overcoming this heterogeneity. However, previous scalable comparison-shoppers such as ShopBot rely on a strong bias in the product descriptions, and as a result, many stores that do not confirm to this bias were unable to be recognized. This paper proposes a more scalable comparison-shopping agent named MORPHEUS. MORPHEUS presents a simple but robust inductive learning algorithm that antomatically constructs wrappers. The main idea of the proposed algorithm is to recognize the position and the structure of a product description unit by finding the most frequent pattern from the sequence of logical line information in output HTML pages. MORPHEUS successfully constructs correct wtappers for most stores by weakening a bias assumed in previous systems. It also tolerates some noises that might be present in production descriptions such as missing attributes. MORPHEUS generates the wrappers rapidly by excluding the pre-processing phase of removing redundant fragments in a page such as a header, a tailer, and advertisements. Eventually, MORPHEUS provides a framework from which a customized comparison-shopping agent can be organized for a user by facilitating the dynamic addition of new stores.

• KDI Journal of Economic Policy
• /
• v.14 no.1
• /
• pp.191-212
• /
• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.