• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.319-325
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• 2023

This study investigates the impact of over-investment on the market value of cash holdings. In addition, this paper examines whether the effect of over-investment on the value of cash holdings differs depending on firms' ownership structure. The results show that increase in over-investment reduces the market value of cash holdings. This suggests that investors perceive that over-investment deteriorates future business performance and generates excessive burdens on future cash flows. As a result, they provide negative evaluation on the market value of cash holdings. In addition, the negative impact of over-investment on the market value of cash holdings is more significant for owner manager firms where managers hold a high level of equity. Such empirical results imply that owner manager firms are more likely to use their cash holdings for private interest, therefore, over-investment reduces the cash value to a greater extent. This study provides empirical evidence that the effect of over-investment on the market value of cash holdings varies depending on the characteristics of firms' ownership structure.

• Journal of Digital Convergence
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• v.15 no.4
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• pp.549-554
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• 2017

This study conducted a survey on 319 Chinese women in their 20s to 50s living in three large cities in China, with an aim to analyze the influence on the purchasing behavior and satisfaction for Korean cosmetics depending on their complex purchasing tendencies. According to the research, the rational tendency was higher when the subjects were over 40 years old and married, and the impulsive tendency was the highest in those in their 30s. There was no huge difference in regions depending on the two tendencies, while there were statistically significant differences in purchasing period, times and costs when buying cosmetics. In addition, purchasing satisfaction for cosmetics had a positive correlation with purchasing tendencies. The subjects pursued convenience in purchasing as their rational tendency was higher, while they sought the trends as their impulsive tendency was higher. Based on the results, it is expected to maximize purchasing satisfaction of Chinese female consumers depending on their purchasing tendencies, if the Korean cosmetics makers provide reliable quality assurance, product exchange and customer management services. It is also expected to help revitalize the beauty market for China as well as Southeast Asia, if the Korean cosmetics companies implement differentiated marketing strategies targeting the customers in the age group with the impulsive consumption tendency.

• Journal of Digital Convergence
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• v.17 no.3
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• pp.153-160
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• 2019

This paper analyzes the impact of investment tendency of foreign investor on accounting conservatism. We use the sample of 1,527 firm-year Korea listed companies belonging to non-financial corporate sector during 2014-2016. The results of empirical analyses show that investment horizons of foreign investors has a positive relevance with accounting conservatism. This result indicates that the firm have a long-term foreign investors has a good quality of accounting earning than the firm have a short-term foreign investors. This study that verified the relevance between investment tendency of foreign investor and accounting conservatism is expected to provide useful information by suggesting the need for more incentive for the long-term foreign investors. And we expect a follow-up study focused on the discriminative effect of investment tendency of foreign investor on accounting policy.

• Korean Journal of Culture and Social Issue
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• v.18 no.3
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• pp.389-413
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• 2012

This study investigated the differential interactive effects of the combination of driving confidence and sensation-seeking on driving anger among different age groups, by using correlation analysis, a hierarchical regression and ANOVAs for the data gathered through the questionnaires administrated in a form of face-to-face interview. The results showed the followings. First, males tended to show higher level in driving anger than females. Second, whereas sensation-seeking was positively correlated with driving anger, age and driving experience were negatively correlated with driving anger, respectively. Third, although there was no significant relationship between driving confidence and driving anger among the drivers aged under 40 years, the drivers aged over 40 years showed higher level of driving anger as their driving confidence increased. Forth, level of sensation-seeking was found to be a strong predictor of driving anger in all age groups. Fifth, driving confidence and sensation-seeking appeared to affect the level of driving anger interactively among drivers aged under 40 years or over 65 years, resulting in higher driving anger only when both the levels of driving confidence and sensation-seeking were high. In contrast, driving confidence and sensation-seeking affected driving anger independently among the drivers aged 30-49 years. Implication and suggestion were discussed.

• The Journal of the Korea Contents Association
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• v.17 no.8
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• pp.301-311
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• 2017

The current study investigated whether individual variation in motivational activation would predict the drug-use and interacts with discrete emotions to influence the responses to anti-drug advertisements. Motivational activation tendency indicates an individual's level to approach life-sustaining elements and defend life-threatening stimuli. Discrete emotion represents joy, sadness, and fear elicited by the advertisements. The experiment proceeded using both self-reports and physiological responses with 80 subjects. Results showed that approach motivation activation can be a target for anti-drug advertisements and in order to target individuals higher in approach activation, it is necessary to use the appeal type to elicit positive emotions such as joy.

• Management & Information Systems Review
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• v.36 no.3
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• pp.255-268
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• 2017

This study examines whether firms with tax avoidance of Corporate Social Responsibility(CSR) performance is tempered by the extent firms engage in CEO turnovers. Considering the increasing interest in CSR activities of the firm to secure sustainable growth of national economy, this paper investigates the benefit and cost of CSR activities by combining the agency theory using the firm level data. Prior studies document that investors positively value tax avoidance. The rationale for this finding is that tax avoidance provides cash savings that can be used by firm managers to generate future shareholder wealth. Prior studies also show that investors' valuations are sensitive to the risk of future negative tax outcomes. Assuming that many types of CSR performances are low risk, low yielding uses of firm resources, we posit that higher levels of CSR performance may signal to investors that cash generated via tax avoidance has not been fully used to generate a return sufficient to offset the risk associated with aggressive tax planning strategies. Consistent with this argument, we predict and find that the positive association between CSR performance and tax avoidance is significantly weakened when firms have higher positive levels of CEO turnovers. Further, we predict and find that 'philanthropic' types of CSR activities in particular are associated with investor discounting of tax avoidance. We interpret our results as suggesting the equity market views CSR activities to be ostensibly funded through cash savings generated via tax avoidance.

• Korean Journal of Legislative Studies
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• v.25 no.3
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• pp.33-67
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• 2019

This study analyzes whether online political activities have an important impact on attitudes toward the legalization of same-sex marriage and the anti-discrimination law and whether these effects are different by the religion of voters. The main findings are as follows. First, the ideology variable has a significant effect on attitude toward legalizing same-sex marriage and enacting anti-discrimination law. Second, the higher the degree of online political activities, the more likely they will support two issues. Third, the effect on attitudes toward the enactment of anti-discrimination law has appeared different by religion. In other words, Protestants, compared to other religions, are more likely to oppose the enactment of anti-discrimination laws as the level of online political activities increased. Our study is meaningful in that we found online political activities play an important role in making voters' attitudes positively toward the enhancement of the right of sexual minorities. Also, although ideological conflicts are usually intense in diplomatic and security issues in Korea, the sexual minority issue would be likely to be an crucial as a dimension of ideological conflicts.

• Management & Information Systems Review
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• v.37 no.2
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• pp.109-123
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• 2018

This research presented the privatization of pubic corporations in terms of communication dimension rather than political and ideological dimension. Concretely, we examined how the message framing of privatization affects consumer's advertising attitude. At the same time, this study also examined the moderating factors which make a difference of the message framing, such as personal relevance(high/low) and social value orientation(proself/prosocial). The results showed that the interaction effect between type of message framing and personal relevance. Positive message framing showed a higher effect than negative message in the case of low personal relevance. Also, There was the interaction effect between type of message framing and social value orientation. Positive message framing showed a higher effect than negative message in the case of proself. However, there was no difference in message framing effect when there was high personal relevance and prosocial. Lastly, the implications of this study was presented. First, this study expanded the scope of research related to message framing. Second, the use of moderating variables such as personal relevance and social value orientation increased the possibility of practical application. In addition, limitation and further study directions was discussed.

• Korean journal of communication and information
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• v.56
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• pp.156-174
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• 2011

Empathic concern is a major psychological factor which activates motives for help. This study investigates how the impact of empathic concern, as a personal trait, and the interaction with positive/negative framing influences responses towards help campaigns. Experiments with 176 subjects were conducted and the data were analyzed focusing on the role of anticipated emotions(satisfaction and guilt). The results were that people high in empathic concern showed larger anticipated satisfaction and behavioral intention compared to people low. The main effect was weak for anticipated guilt. Evidence suggests that anticipated satisfaction mediate the influence of the interaction of empathic concern and framing on behavioral intention. Anticipated guilt did not appear to act as an mediating variable. The theoretical and practical implications are discussed.

• Journal of Digital Convergence
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• v.17 no.3
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• pp.191-204
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• 2019

This study empirically confirmed whether individual characteristics and social capital have distinctive influence on entrepreneurship and entrepreneurship, and whether entrepreneurship consulting has a moderating effect in the context of high interest in entrepreneurship with 223 data. All of the personal characteristics, network, trust, and consulting experience had a significant influence on the entrepreneurial intention, while the external control and reciprocity norms had a significant influence on the entrepreneurial anxiety. The experience of consulting revealed that it has a moderating effect of weakening influence of risk-taking tendency and network on the entrepreneurial will and strengthening the influence of external control on the entrepreneurial anxiety. This research has significance in terms of distinguishing effects of entrepreneurial intention and anxiety and the moderating effect of consulting. In future research, it is expected that verification of entrepreneurial anxiety should be done.