• The Journal of the Korea Contents Association
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• v.15 no.7
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• pp.477-488
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• 2015

This study investigates the association between non-audit services and audit quality, using a sample of firms in which audit services and non-audit services are provided by a same audit firm. This study extends previous studies by separating auditors into Big4 and Non-Big4 audit firms as each group may have different incentives to impair their independence. According to the empirical results, audit quality, proxied by absolute value of discretionary accruals has significant negative association with non-audit service fee for Non-Big4 audit firms, but not for Big4 audit firms, suggesting that Non-Big4 audit firms may impair their independence with increased non-audit service fees. Non-Big4 audit firms are known to be relatively small and local firms that might be highly economically dependent upon a specific client firm whereas Big4 audit firms are not. This results may be of interest to regulators and capital market investors and standard setters who concern a recent trend of increasing non-audit services that are provided by an audit firm which also provides audit service at the same time.

• Journal of East Asia Management
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• v.4 no.1
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• pp.23-51
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• 2023

We investigate whether the association between management overconfident tone and the level of audit effort measured by audit fees and hours differs depending on the level of earnings management. Prior studies suggest that firms led by overconfident managers are likely to initiate risky investments, report low quality financial statements, and have material weaknesses in internal control system. These characteristics, combined together, result in higher audit risk. At the same time, auditors assess audit risk based on the quality of financial reporting, measured by level of earnings management. As a result, the assess audit risk is likely to reflect the combined effect of management overconfidence and the level of earnings management. In this paper, we investigate whether auditors differentiate the effects of real earnings management (REM) and accrual-based earnings management (AEM) when they assess the audit risk related management overconfident. Using the CEO's letter published in 2018, we measure the CEO's tone representing the degree of overconfidence (i.e., activity). Based on this measure, we find that the positive association between managerial overconfident tone and audit effort is more pronounced as the level of REM is higher. However, we find that the baseline association does not vary depending on the level of AEM. These results suggest that auditors consider the managerial overconfident severer when such characteristic accompany the higher level of REM, which can be outcome of aggressive business decisions possibly leading to the higher audit risks. We further find that these results are stronger for Big 4 auditors and continuing auditors. This paper contributes to the literature and practice as follows. First, we provide contextual evidence on how auditors reflect managerial characteristics in the audit process by documenting that auditors actively increase their audit efforts only when overconfident managerial characteristics are highly likely to lead to audit risk. This result suggests that auditors conduct external auditing considering both the efficiency and effectiveness of the audit process. Second, we suggest that auditors use information obtained from a wide range of sources to identify audit risks. Our results provide evidence of how the auditing standards, which do not provide detailed guidelines for audit risk assessment, are being applied in practice. Finally, our results also enhance the understanding of how audit fees are determined. Combined with the studies related to audit pricing, we provide the important reference for discussion between the auditor and the auditee about the audit fee that has created acute tension after the enforcement of the new External Audit Act.

• Journal of the Korean Dietetic Association
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• v.10 no.3
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• pp.293-299
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• 2004

The purposes of this study were to : a) investigate the current status of contracted hospital food services, b) analyze and clarify various perspectives of contractors and hospitals. Thirty six hospitals and their contractors which were having more than 100 beds located in Seoul, Inchon and Kyungkido, were the subjects of this study. Data were collected through surveys. The survey was conducted during March to April in 2002. Questionnaires were mailed to the 36 directors of dietetic departments of hospitals and 36 managers of contract foodservice management company. Statistical analysis was completed using SPSS Win(11.0) for descriptive analysis, t-test and $x^2$-test. The results of the study can be summarized ; 1. The type of contract considered adequate by directors of dietetic departments and managers of contractors was fee-contract, combined type, followed by profit-and-loss contract. 2. According to the results from analysis on the contract cost per meal considered adequate by directors of dietetic departments and managers, the directors of dietetic department indicated that showing no difference with the current contract cost per meal. However, the managers of contractor indicated that showing significant differences compared with the current contract cost per meal(regular diet p<0.01, therapeutic diet p<0.001). 3. In the composition of contract cost per meal considered adequate, the managers of contracting businesses accounted labor cost (p<0.01) as a major cost, whereas the chiefs of nutrition departments accounted miscellaneous or controllable expense (p<0.001) and VAT (p<0.01) as major costs. 4. The directors of dietetic departments and managers thought that the hospital should be responsible for utility costs. On the other hand, directors of dietetic departments regarded that the contractor and managers thought that the hospital should pay for facility investment cost.

• The Journal of the Korea Contents Association
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• v.12 no.10
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• pp.376-384
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• 2012

The purpose of this study is to enhance the satisfaction of paramedics on the refreshment training by identifying the status and requests of 389 Grade I and II paramedics who participated in refreshment training and providing appropriate training according to job requirements, and to provide basic materials for the effective operation. From the study, in 'Status and Difference of Refreshment Training of Grade I and II Paramedics', statistically significant items were found to be 'Satisfaction level of Refreshment Training'(p=0.002), 'Training should be separated according to qualifications.'(p=0.000),'Refreshment training registration fee was appropriate.'(p=0.027), 'Necessity level of evaluation after the refreshment training'(p=0.007). The most appropriate theme for refreshment training' was found to be ALS among Grade I (42.3%) and Grade II (31.1%), but it was not statistically significant (p=0.224). In 'Refreshment Training Enhancement Requirements', both Grade I (29.5%) and Grade II (31.2%) paramedics wanted 'qualitative enhancement of contents' most, which was not statistically significant (p=0.664). Additionally, 'the most appropriate theme for refreshment training' was found to be ALS in 'hospitals' (46.3%) and 'non-hospitals' (28.6), and comparing to 'hospitals' 'non-hospitals' showed approximately 12% higher requirements on 'Laws and the latest medical information'. According to results, it is recommended to separate training for Grade I and Grade II paramedics and reflect requests of the field to refreshment training so as to enhance the quality and satisfaction of refreshment training.

• The Journal of the Korea Contents Association
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• v.20 no.11
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• pp.281-291
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• 2020

This study used Gauss-Poisson jump diffusion process on standard assets to estimate the statutory reserves of Variable Annuity (VA) guarantees specified in Korean bylaw of insurance supervision and calculated guarantee fees and risks based on the model to see the effect of considering the jumps. Financial assets, except KOSPI 200, have fat-tailed return distributions, which is an indirect evidence of discontinuous jumps. In the case of a domestic stock index and foreign stock indexes(Korean Won), guarantee fees and risks decrease when jumps are considered in models of underlying assets. This is explained by decreases in standard deviations after the jump diffusion is considered. On the other hand, in the case of domestic bond indexes and a foreign bond index(Korean Won), guarantee fees and risks tend to increase when jumps are considered. Results from a foreign stock index(US Dollar) and a foreign bond index(US Dollar) were opposite to those from the same kinds of Korean Won indexes. We conclude that VA guarantee fees and risks may be under or over estimated when jumps are not considered in models of underlying assets.

• The Journal of the Korea Contents Association
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• v.16 no.8
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• pp.366-375
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• 2016

This study evaluates the degree of the inequality of medical care expenditure and private health insurance benefits and the relation with household income inequality in korea health care system. This study used the 2014 korea Health Panel survey, and study method is Gini coefficient. The main results are as follow. First, average household income in 1st income quartile is 6,290,000won and 10st income quartile is 101,930,000won. And Gini coefficient of Korea household income is 0.3756. In other words, family income inequality is quite serious. Second, the Gini coefficient of the public institution supported medical care expenditure, such as health insurance and public assistance, is 0.0761, and the Gini coefficient of the expenditure of transportation fee and medical materials etc that don't supported is 0878. The inequality in medical care expenditure in public health care system and without public support aren't serious all. Third, Gini coefficient in excluding household medical care expenditure from household income slightly increased. That is, the medical care expenditure of our country household is the factor of aggravating the inequality of household income. Fourth, Gini coefficient of private health insurance benefits is 0.0927. Therefore, the ineqality in private insurance benefits is low. In addition, the Gini coefficient of the sum of private insurance benefits and household income is 0.3672. it decrease from Gini coefficient(0.3756) of household's. Private health insurance perform the functions somewhat weaken household income inequality. However, it is very little improvement.

• Journal of the Korea Organic Resources Recycling Association
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• v.23 no.3
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• pp.42-50
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• 2015

Beijing and Seoul are the capital of China and Korea, and political, economic, cultural, and tourist centers as well. Beijing is most likely to follow the footsteps of Seoul in the process of urbanization. The purpose of this study is to find out differences and improvements by comparing the solid waste management system between Beijing and Seoul. China classifies waste into urban waste, industrial waste and hazardous waste, which is the same as Korea did in 1980s. Beijing's policy directions in the waste management is similar to Seoul's in the early 1990s when Seoul strived to construct incinerators and landfill. Beijing's waste management achievements are also similar to Seoul's in that the ratio of recycling and incineration is high and that of landfill is low. Hence, it is expected for the waste management policies and achievement of two cities to resemble more and more. Financial burdens of government, indifference of citizens, and decentralized organizations of waste management might be the issues for Beijing to solve. In particular, to implement the user fee system and to encourage citizens to participate in waste separation discharge appear to be key issues in Beijing. Seoul should take a look at which the Beijing government itself collects waste in station and central area.

• The Journal of the Korea Contents Association
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• v.17 no.10
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• pp.216-230
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• 2017

The purpose of this study is to analyze the economic effectiveness of advanced enterprise welfare system utilizing DEA(Data Envelopment Analysis) and contribute to the adoption and implementation of the system conducted by Korea Workers' Compensation & Welfare Service(COMWEL). We classified 48 sample data into 3 categories : A category(basic consulting & intensive consulting, adoption) is 36, B category(basic consulting & intensive consulting, non-adoption) is 5, and C category(only basic consulting, adoption) is 7. A consulting fee is used as input variable, earning per employee and average employee tenure are used as output variables. As a result from DEA, we find out the fact that the economic effectiveness of A category is better than the economic effectiveness of B and C category and it comes to the conclusion that the consulting service provided by COMWEL has a positive effect on the adoption and implementation of advanced enterprise welfare system. Therefore, COMWEL is required to perform consulting service to small & medium business more actively and is needed to look at the reason why some businesses hesitate to accept the relevant system.

• The Journal of the Korea Contents Association
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• v.13 no.3
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• pp.444-455
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• 2013

The purpose of this study is to explore the selection attributes for parents of children with language disability when choosing a clinic. The data collection was carried out in 3 steps: the preliminary survey, first open survey and second survey in AHP(Analytic Hierarchy Process). The subjects of were 252 in total. The results were as follows: First, The order of priority attributes in superior categories for parents of children with language disability when selecting a clinic were 'therapist-related attributes', 'program-related attributes' and 'physical-related attributes' in turn. The top 5 priority attributes in subcategories were 'therapist's academic background and major', 'ability to make a rapport', 'clinical experience and qualification of therapist', 'kindness and confidence' and 'counseling program for parents'. Second, The parents of preschoolers age 6 and younger chose 'clinical experience and qualification of therapist', 'counseling program for parents' and 'learning materials' for the most priority attributes, whereas the parents of students age from 7 to 12, considered 'therapist's academic background and major', 'clinical fee' and 'distance transport parking' more importantly to select a clinic. The results of this study provided preliminary data for successful planning of speech and language therapy.

• The Journal of the Korea Contents Association
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• v.9 no.10
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• pp.407-416
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• 2009

This study examines the competitiveness of Korean golf industry and forecasts the demand for golf tourism to diminish the deficit of tourism revenue through revitalizing domestic market for golf. A comparative investigation of the golf expenses shows that the price competitiveness of golf fee and equipments is significantly lower than the competing destinations. For instance, a price of golf tourism package in South east Asian countries, that includes accommodation for three nights and a round-trip airfare, is even lower than the price of three sets of rounding during the weekend in Korea. Plus, the economic impacts analysis shows that if the current regulations regarding domestic golf industry are to be maintained, the competitiveness of Korean golf industry is likely to get worse due to an excessive tax burden, which may result in the increased deficit of tourism revenue. It is expected that the enhanced competitiveness of Korean golf industry will help overcome the current economic crisis of Korea.