• Title/Summary/Keyword: Agency costs

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National Pension Service's Ownership and Accounting Conservatism (국민연금의 지분투자가 기업의 재무보고 방식에 미치는 영향 : 보수주의 회계처리를 중심으로)

  • Lee, Bo-Mi;Ha, Bonggon;Hwang, Juhee
    • The Journal of the Korea Contents Association
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    • v.22 no.4
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    • pp.314-323
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    • 2022
  • This study examines the effecs of National Pension Service blockholders on accounting conservatism. The sample consists of 10,117 non-banking firm-years listed in Korea Stock Exchange(KOSPI) during the period 2011 to 2018. The results of this study are as follows. First, it was found that companies in which the National Pension Service as a major shareholder hold more than 5% of the shares are less prone to conservative accounting treatment than those that do not. Second, such a negative relationship between investment by the National Pension Service and conservative accounting was consistently found even when the investment period of the National Pension Service was divided into short-term (less than 1 year) and long-term (more than 3 years). It is expected that the National Pension Service, the largest institutional investor in Korea, will be able to carry out meaningful management control activities on investment companies. As the monitoring function of the National Pension Service works effectively in the capital market, agency costs are reduced, and investors' demands for corporate conservative accounting have decreased.

A Study on Improvement of Pension Operation and Management using Big Data Analysis Techniques (빅데이터 분석기법을 활용한 숙박업체 운영 개선 방안에 대한 연구)

  • Yoon, Sunhee
    • The Journal of the Convergence on Culture Technology
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    • v.7 no.4
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    • pp.815-821
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    • 2021
  • The advantage of big data is to collect a large amount of data on the Internet and refine and use valuable data. That is, the unstructured data is processed so that the user can analyze and utilize it from a necessary point of view. This paper is a relatively small project and is based on unstructured data that can be closely applied to real life and used for marketing. The subjects of the experiment were modeled on lodging companies in the Seoul metropolitan area an hour away from Seoul, and analyzed for the increase in lodging rates before and after marketing using big data. As an experiment that shows the effects of increasing sales, reducing costs, and increasing returns by users, we propose a system to determine and filter whether data input in the process of analyzing big data such as social networks can be used as accommodation-related information.

An Empirical Study on the Contribution of Housing Price to Low Fertility (주택가격 상승 충격의 저출산 심화 기여도 연구)

  • Park, Jinbaek
    • The Journal of the Convergence on Culture Technology
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    • v.7 no.4
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    • pp.607-612
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    • 2021
  • This study estimated the impact of the shock of housing price increase on the total fertility rate and the contribution of each variable to changes in the TFR. This study is differentiated by estimating the contribution rate of each variable to the fertility rate through the Shapley decomposition and the panel VAR's forecast error variance decomposition, which previous studies have not attempted. The main results of this study are as follows. First, the decline in the TFR in Korea has been strongly influenced by the recent decline in the total fertility rate, and this influence is expected to continue in the future. In the case of housing costs, in the past, housing sales prices had a relatively small contribution to changes in the total fertility rate compared to the jeonse prices, but their influence is expected to increase in the long term in the future. It has been demonstrated that private education expenses other than housing sale price and Jeonse price also acted as a major cause of the decline in the total fertility rate.

Development of Korean UCS Architecture and Service Design for GCS Standardization (GCS 공통화를 위한 한국형 UCS 개발 및 서비스 설계)

  • Yoorim Choi;Sangyun Park;Chulhwan Kim;Gyeongrae Nam;So-Yeong Jeong
    • Journal of Advanced Navigation Technology
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    • v.27 no.3
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    • pp.314-322
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    • 2023
  • The use of unmanned aerial vehicles is rapidly increasing in order to effectively utilize limited manpower and minimize casualties on the battlefield. The requirements for ground control equipment vary depending on the operating concept and environment of the unmanned aerial system, but there are still common requirements. However, the lack of standardized system configurations to meet these common requirements makes it difficult to reuse common functions, leading to continuous acquisition costs. To solve this problem, this paper develops a Korean version of the UCS model using the UCS architecture. Furthermore, after designing elements related to service development not specified in the architecture (such as framework, communication middleware, service structure, etc.), we develop a Boilerplate to enhance developers' work efficiency based on this. The results of this study will serve as a foundation for effectively and economically carrying out the development of ground control equipment for unmanned aerial systems.

Design of an Elliptical Orbit for High-Resolution Optical Observation at a Very Low Altitude over the Korean Peninsula

  • Dongwoo Kim;Taejin Chung
    • Journal of Astronomy and Space Sciences
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    • v.40 no.1
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    • pp.35-44
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    • 2023
  • Surveillance and reconnaissance intelligence in the space domain will become increasingly important in future battlefield environments. Moreover, to assimilate the military provocations and trends of hostile countries, imagery intelligence of the highest possible resolution is required. There are many methods for improving the resolution of optical satellites when observing the ground, such as designing satellite optical systems with a larger diameter and lowering the operating altitude. In this paper, we propose a method for improving ground observation resolution by using an optical system for a previously designed low orbit satellite and lowering the operating altitude of the satellite. When the altitude of a satellite is reduced in a circular orbit, a large amount of thrust fuel is required to maintain altitude because the satellite's altitude can decrease rapidly due to atmospheric drag. However, by using the critical inclination, which can fix the position of the perigee in an elliptical orbit to the observation area, the operating altitude of the satellite can be reduced using less fuel compared to a circular orbit. This method makes it possible to obtain a similar observational resolution of a medium-sized satellite with the same weight and volume as a small satellite. In addition, this method has the advantage of reducing development and launch costs to that of a small-sized satellite. As a result, we designed an elliptical orbit. The perigee of the orbit is 300 km, the apogee is 8,366.52 km, and the critical inclination is 116.56°. This orbit remains at its lowest altitude to the Korean peninsula constantly with much less orbit maintenance fuel compared to the 300 km circular orbit.

Defending the Indo-Pacific Liberal International Order: Lessons from France in Cold War Europe For Promoting Détente in Asia

  • Benedict E. DeDominicis
    • International Journal of Advanced Culture Technology
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    • v.11 no.2
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    • pp.82-108
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    • 2023
  • As tension escalates between the US and China, scenarios for maintaining peace in Northeast Asia imply that secondary powers will perceive increasing incentives to reappraise their respective international roles. This analysis proposes that an analysis of France's Cold War role in Europe and the world under President Charles de Gaulle provides insights into conflict management in an increasingly multipolar international political environment. Their respective interests in preventing a so-called new Cold War emerging between the US and China include avoiding its excessive economic costs, if only because China is a massive trade partner. This study engages in theoretical framework-informed process tracing of de Gaulle's role. It explicates the assumptions that functionally underpinned de Gaulle's policy of soft balancing between the US and China. The analysis explores de Gaulle's contribution to the decay of the Cold War. It illuminates de Gaulle's contribution to a regional international environment that made West German Chancellor Willy Brandt's Ostpolitik strategy more feasible politically. This study applies these findings in the formulation of strategy recommendations focusing on Japan. Valid inferences regarding the predominant motivations driving American and Chinese international interaction are necessary for this task. To the extent to which the US and China have entered into a conflict spiral, Japan's hedging towards Washington is further incentivized. Tokyo would necessarily need to convince the Chinese that Japan is no longer Washington's unsinkable aircraft carrier off its coast. Tokyo, like de Gaulle's France, would maintain close relations with Washington, but it would need to project to its interlocutors its commitment to its own strategic autonomy. Tokyo's emphasis on closer relations with liberal democratic Indo-Pacific actors would potentially fit well with a commitment to strategic autonomy to defend the global liberal order.

A Study on the Types of Virtual Influencers in China Using Q Methodology

  • LILI;Jong-Yoon Lee;ShanShan LIU;Jang Sun Hong
    • International Journal of Advanced Culture Technology
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    • v.11 no.2
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    • pp.152-161
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    • 2023
  • Modern people live a life connected with the real world and the virtual world by relying on the new media of enterprises and social consumption led by innovative technologies. In this environment, virtual influencers actively communicate with consumers and build relationships through social media, which is a new marketing tool that has attracted widespread attention. From a business perspective, it is necessary to have a solid understanding of this phenomenon, and then explore communication strategies to effectively develop virtual influencers. To investigate followers' preference for virtual influencers, this study employs the Q-method, which studies human subjective attributes, an empirical research effort to uncover complex issues in human subjectivity. To determine the factors that trigger people's voluntary and active practice and the preference degree of virtual influencers, the Q method is implemented to examine human subjectivity, thoughts and attitudes. According to the results of this study, virtual influencers are a new group of idols full of vitality. The interviews found that there are still many virtual influencers who do not know about followers, but each type can be clearly understood through the intuitive understanding of the interviewees. Divided out, type 1 one egoideal virtual influencers aim to represent an idealized version of the creator or target audience. Embodies ideal physical characteristics, personality or lifestyle desired by the audience. Type 2 is charismatic and attractive, and has the characteristics of most virtual influencers. It is suggested that it can be developed into a potential type, doing brand cooperation, and content production on social media platforms. Type 3: Game animation, derived from the image of characters in games or comics, with stylized features and energetic personalities, which can be integrated into games or entertainment experiences. Type 4 development potential type is the most successful type among virtual imagers, and it is also the purpose of marketing virtual influencers. It is essential that brand endorsement on social media platforms, integrated marketing, and driving advertising traffic. It is recommended to improve production technology to reduce investment costs.

A Comparative Study on Overseas Experience Case Studies in Middle School (중학교 해외 체험 사례 조사 연구)

  • Young Joo Park;Mee Yeon Lee
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.5
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    • pp.801-807
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    • 2023
  • This study aims to examine the cases of overseas experience programs centered around middle school students in South Korea and to derive implications for future overseas experience programs. To achieve this, data were systematically collected through search engines based on keywords, followed by comparative analysis. Frequency analysis, independent sample t-tests, and cross-analysis were conducted using SPSS 23. The research findings are as follows: First, the programs are operated nationwide, with a focus on smaller schools in various regions, and are particularly active in the Jeolla provinces. Diverse public funding, such as from the board of education and local governments, has been invested, categorizing operational costs into full financial coverage among others. The programs primarily took place in Southeast Asian countries close to South Korea. Second, the purposes of these middle school overseas experience programs largely encompass career exploration, cultural experiences, tourism, and sister school visits. We hope that school-based overseas career exploration programs are actively operated to provide opportunities for enhancing global competence and global citizenship, as well as exploring career paths.

Flexible Operation of International Commercial Terms to Increase Logistics Efficiency in Logistics 4.0 (물류 4.0 시대에서 물류효율성 증대를 위한 인코텀즈 상 정형거래조건의 탄력적 운용방안 연구)

  • Chang-Bong Kim;Kyeong-Wook Jeong
    • Korea Trade Review
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    • v.47 no.4
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    • pp.69-88
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    • 2022
  • Recently, International commerce has continuously expanded with the development of logistics technology. However, the cost of international logistics is rising rapidly. The Korea International Trade Association (2021) proposes that the use of international commercial terms in Incoterms® could be an effective way against logistics costs. The purpose of this study is to verify the effect on the flexible operation of international commercial terms. For the detection of variables and data collection for empirical analysis based on previous studies and in-depth interviews. The questionnaires were distributed after pilot-study to a random sample of companies based on the list of members such as the Korea International Trade Association, the Korea Trade-Investment Promotion Agency, and the Global Small and Medium Business Association. A total of 800 questionnaires were distributed, and 166 were used for empirical analysis. The results of this study are as follows. First, mutual cooperation and Flexibly using of international commercial terms has a positive (+) effect on logistics efficiency. This is in line with the study of Yang (2021) and Stojanović et al. (2021) that logistics by using international commercial terms will increase the efficiency of logistics. Second, use of international commercial terms based on mutual understanding mediates the relationship between the logistics environment of the other country and the logistics efficiency. As in the study of Vidrova (2020), it is important to operate on international commercial terms mutually.

Sensitivity analysis for the retailer's pricing and lot-sizing policies on the length of credit period (신용 거래 기간이 소매상의 가격 및 주문정책에 미치는 민감도분석)

  • Seong-Whan Shinn
    • The Journal of the Convergence on Culture Technology
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    • v.9 no.6
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    • pp.257-262
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    • 2023
  • As part of their marketing policy, some suppliers allow retailers a period of credit in anticipation of increasing demand for the products they supply. The opportunity to defer payments on products through credit transactions has the effect of reducing retailers' inventory investment costs, and as a result, retailers determine selling prices in anticipation of increased demand from buyers. This study aims to analyze the inventory model that determines the retailer's selling price and EOQ(Economic Order Quantity) under the assumption that the buyer's demand is an exponentially decreasing function of the retailer's selling price in the credit transaction supply chain consisting of suppliers, retailers, and buyers. The products supplied for problem analysis include the case of deteriorating products that deteriorate over time, and the effect of the credit transaction period, the index of price elasticity and the degree of deterioration on the retailer's selling price and EOQ is analyzed.