• Journal of the Korea Convergence Society
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• v.11 no.11
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• pp.293-300
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• 2020

With constant relaxation of regulations by the government in the 4th industrial innovation era, it has brought huge changes to the education environment as it has created solutions to hindrance factors against introduction of the cloud. Universities are getting more interested in the introduction of the cloud Computing but they still remain at the level of recognition diffusion and creating ambience. The study has analyzed empirical factors of the effect of introduction of the successful case "K Cyber University's Construction of Cloud-Based Remote Education System" through the previous studies on trait factors affecting the introduction of the cloud computing and the analysis of factors in terms of expandability, agility, compatibility, economic feasibility, security, stability and institutional support. Factors drawn through this are meaningful for empirical studies on presenting strategies and the directivity to introduce the cloud computing successfully. This study can be used as the background for further studies which will require various factors prior to introducing the cloud computing.

• Fire Science and Engineering
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• v.25 no.5
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• pp.100-107
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• 2011

In this study, a simulated situation in which the visions of the evacuees were blocked by the smoke, which is one of the most dangerous factors that cause casualties in case of an emergency, was conducted for the evaluation of the performance of an evacuation guidance system. For this purpose, the behavior and time taken by the experiment subjects in simulated evacuation test were measured and analyzed. When the evacuation guidance sound signals were given by 4 speakers at the same time, most of the subject were disoriented and took generally longer in getting to the pre-designated evac point. And, using only one speaker instead of two showed a better result in terms of the evacuation behavior or and orientation. Also, when there were two or more speakers used for the broadcasting of the guidance message, it turned out that using Hass effect, and placing the speakers closer, could result in higher awareness of the guidance message and maintenance of the orientation, while it also made the subjects took short to get to the evac point.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.107-117
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• 2016

This study examines information efficiency of financial information on the firm value for the listed manufacturing companies in Korea stock market in terms of timing pattern of information. We set 3 different test periods based on the financial statement released years - the current year, 90 days before financial statement announcement and the next year. We introduce using the stepwise regression method to examine the effect of financial variables on the stock returns. The financial variables include profitability ratio, growth ratio, stability ratio, activity ratio and market valuation ratio. The results of the study showed that both growth and profitability ratio affected the current year stock returns, while stability and activity ratio affected the next year stock returns. Growth rate of total asset affects both current year and next year stock returns. Our findings imply that the period in which financial information is reflected in the firm value, could vary with the characteristics of financial information.

• The Korean Journal of Financial Studies
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• v.2 no.2
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• pp.315-344
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• 1995

The relationship of information flow and market price formation are central to the basic tenets of financial economics. Whereas information is usually treated as being either public or private(monopolistic), most empirical studies focus on the price effects of public announcements. More recent research has centered more on the role of private information, such as insider trading, in efficient pricing and whether such trading increases investor welfare. Typically, 'insider trading' refers to an officer that trades in his/her company's shares. Insider trading, however, also refers to anyone who generates private, albeit costly, information concerning a stock's fundamental value. Normally, such insider activity is more difficult to ascertain. One way in which negative information is revealed is through short-selling activity, especially the monthly short-interest positions reported by the national stock exchanges. Diamond and Verrecchia(1987) provide a theoretical paradigm that predicts a negative price adjustment upon announcement of n company's monthly short interest, if the short interest displays an unusual increase and is correlated with negative information that is not yet public. Empirical studies of the short-run, negative price effect predicted by Diamond and Verrecchia find mixed results. One explanation is that the time period studied is too short for the market to absorb the informational content of these announcements. One reason is that these announcements are an ambiguous signal that requires more individuals and time to collect and act on the same information before full revelation occurs or before the implicit information becomes publicly known. This 'long delayed reaction' also serves as a motivation for related research on the wealth effect of mergers, share repurchases, and initial equity offerings in which long-run performance differs from the initial, short-run reaction to such announcements or offerings.

• Journal of the Korean Society of Safety
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• v.33 no.1
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• pp.109-117
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• 2018

This study examined the effect of Behavior Based Safety(BBS) program on safe behaviors of bus drivers and passengers. Four male bus drivers working at a H transportation company situated in Seoul participated in this study. BBS program consisted of education, prompts, and self-monitoring with goal setting. Dependent variables were the percentage of two safe driving behaviors of bus drivers (departure after stopping for 3 seconds, announcement for holding bus handles) and the percentage of one safe behavior of passengers getting on the busses those drivers drove (holding bus handles). A primary observer and two trained assistant observers measured two safe behaviors of the bus drivers with behavior checklists by riding on the busses and the passengers' safe behavior was observed by CCTV installed on each bus. An ABC multiple baseline design across participants was adopted. After baseline(A), education and prompts(B) and self-monitoring with goal setting(C) were introduced sequentially to each participant. The results showed that BBS program was effective to increase both bus drivers' and passengers' safe behaviors. Especially self-monitoring with goal setting was more effective in improving safe behaviors of bus drivers than education/prompts. These results suggest that education/prompts and self-monitoring with goal setting would be an alternative treatment technique to improve safety for lone workers such as bus drivers.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.5836-5842
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• 2015

We examine the effect of Corporate Social Responsibility activities on the value of corporations through the supply contracts with customers, one of important stakeholders. The analyses using KEJI index and supply contract announcements show that the likelihood of involving in a supply contract is lower and the announcement return is lower when CSR performance is higher. However, this negative effect of CSR is different across the level of CSR performance. The negative effects of CSR do not exist in the firms with highest level of CSR performance while most of the negative effects are concentrated in the firms with mediocre performance in CSR. These results indicate that market recognizes not best CSR activities but mediocre CSR activities as sacrifice of shareholder value.

• Journal of Digital Convergence
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• v.16 no.12
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• pp.137-145
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• 2018

The purpose of this study is to identify the CSR activities and to investigate the relationship between CSR activities and business performance. Specifically, we analyzed the companies that were included in the SRI index as CSR activity companies, and analyzed how they affect the business performance of the companies according to SRI index incorporation disclosure. As a result of the analysis, the SRI index incorporation announcement has a significant positive effect on the corporate value(Tobin's Q) but it has not significant effect on the financial performance(ROA). This suggests that CSR activities are offered to companies' managers and stakeholders as a basis for investment rather than expense. In the future research, it will be more meaningful if the study on the intention to participate in CSR activities is conducted based on this study and previous studies.

• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.65-94
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• 2009

The event of change in KOSPI 200 Index composition is one of the main subjects for the test of EMH. According to EMH, when a certain event is not related with firm's fundamental value, stock price should not change after the announcement of news. This hypothesis leads us to the conclusion of horizontal demand curve of stock. This logic was questioned by Shleifer(1986) and argued that downward sloping demand curve hypothesis was supported. But Harris and Gruel(1986) found a different empirical evidence that price reversal occurs in the long run, which is called price pressure hypothesis. They argued that short term price effect by large block trading (price pressure) is offset in the long run because these event is unrelated to fundamental value. Therefor, they argued that EMH can not be rejected in the long run. Until now, there are two empirical studies with Korean market data in this area. Using a data with same time period of $1996{\sim}1999$, Kweon and Park(2000) and Ahn and Park(2005) showed that stock price or beta is not significantly affected by change in index composition. This study retested this event expanding sample period from 1996 to 2006, and analyzed why this event was considered an uninformative events in the preceding studies. We analyzed a market impact by separating samples according to firm size and market condition. In case of newly enlisted firm, we found the evidence supporting price pressure hypothesis on average. However, we found the long run price effect in the sample of large firms under bearish markets. At the same time, we know that the number of samples under the category of large firms under bearish markets is relatively small, which drives the same result of supporting the hypothesis that change in index composition is a non-informative event on average. Also, the long run price effect of large size firms under bearish markets was supported by the analyses using trading volumes. On the other hand, in case of delisting from the index, we found the long run price effect but that was not supported by trading volume analyses.

• The Korean Journal of Financial Management
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• v.23 no.1
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• pp.1-47
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• 2006

This study investigated the effect of tender-offer on the value of the firms in Korea. For this purpose, the study applied an event study methodology to 55 cases(bidding firm : 26, target firm : 39) of tender-offer and 164 cases(bidding firm : 144, target firm : 20) of merger announcements made between January 1st, 1994 and September 30th 2004. We found the following results. For tender-offer announcements, there was a significant increase in target firm's value while there was no significant change in bidding firm's value. In contrast, for merger announcements, there was a significant increase in bidding firm's value while there was no significant change in target firm's value. In addition, the synergy effect of tender-offer was higher than that of merger. The results support the Berkovitch and Khanna(1991)'s prediction that bidding firms choose tender-offer rather than merger in the presence of higher synergy profit from M&A.

• Journal of Korea Port Economic Association
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• v.24 no.4
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• pp.283-311
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• 2008

Saemangeum Newport plan was included the whole national newport development plans in 1996, and finished the basic execution plan in 1998. Then the government announced that Saemangeum Newport development was selected as the leading project in the field of SOC for the great-sphere economic bloc on September 10, 2008. After the announcement, this paper assumed the new quantity of goods transported and the plans to develop Saemangeum Newport as the specialized port. If Saemangeum Newport and the Food processing complex of the rear area are related to the supplied food materials by developing the overseas agriculture, it's possible to create the effect of synergy. When Saemangeum Newport is developed as the exclusive port for the foodstuffs, we can solve the food problem and this port will be the hub of North-eastern Asia's food production and distribution. This port also will be a proper transit port for the storage of fresh agricultural products to meet the change of the food trend. Therefore, if Saemangeum Newport is developed as the exclusive food port, it will be developed as the competitive port by holding a dominant position.