• 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.

• Proceedings of the KSR Conference
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• 2007.11a
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• pp.1846-1851
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• 2007

According to the Railroad Safety Act and section 42 of the Enforcement Ordinance, railway operators should conduct railway safety training regularly(6 or 3 hours per three months). But Overall Railroad Safety Audit conducted 2006 pointed out nonfulfillment of a regulations on railway worker's safety training to each of every 4 railway operators, which proved that the training management had not carried out properly. E-learning is used in various fields with development of Internet and IT technologies. It might be a good alternative tool for railway workers who is in shift working of the company 24 hours a day. Because it is difficult to collect those employees for training, e-learning could overcome obstacles of time and distance. In order to find out suitable e-learning model to railway sector, e-learning system for railway safety training has been researched through investigating e-learning technology and present railway safety training condition.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.45-54
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• 2019

This study examines whether auditors restrain the analysts' opportunistic behavior as reviewing the companies' interim reports. Analysts' forecasts show a walkdown pattern in which their optimism has decreased as the earnings announcement date has approached. At the beginning of the year, there is a lack of high-quality benchmark information that enables information users to judge the accuracy of analyst's earnings forecasts. Thus, early in the year, analysts are highly inspired to disseminate optimistic forecasts in order to gain manager's favor. In this study, we examine adequate benchmarks prevent analysts from disclosing optimistically biased forecasts. We conjecture that auditors' efforts might mitigate analysts' walkdown pattern. To test this hypothesis, we use data from Korea, where it is mandatory to disclose auditor's review hours. We find that the analyst forecast's walkdown decreases with the ratio as well as the number of audit hours. It implies that an auditor's effort in reviewing interim financial information has a monitoring function that reduces analysts' opportunistic optimism at the beginning of the year. We conjecture that the tendency will be more pronounced when BIG4 auditors review the interim reports. Consistent with the prediction, BIG4 auditors' interim review effort is more effective in suppressing the analysts' walkdown.

• Annals of Hepato-Biliary-Pancreatic Surgery
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• v.27 no.4
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• pp.394-402
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• 2023

Backgrounds/Aims: Acute pancreatitis is an emergency presentation, which can range from mild to life threatening. Intravenous fluids are the cornerstone of management. Although the WATERFALL trial described the optimal fluid rate in mild/moderate pancreatitis, this trial excluded patients with moderate-severe/severe pancreatitis. The aim of this study was to establish clinical practice regarding intravenous fluid administration in acute pancreatitis and assess its effect on mortality. Methods: Prospective multi-centre audit of patients with acute pancreatitis was conducted. Data were collected regarding intravenous fluid administration within 72 hours of admission. The primary outcome was 30-day mortality. Multivariable logistic regression was used to identify predictors of 30-day mortality. Results: Those with severe pancreatitis received more fluid; median 5.7 L versus 4 L in 72 hours (p = 0.003). Participants with severe pancreatitis who died within 30 days received a median of 2,750 mL in the first 24 hours, compared to 4,000 mL in those who survived. The following factors were significant predictors of 30-day mortality: age, Glasgow score, C-reactive protein, ischaemic heart disease, and pancreatitis aetiology. Overall, volume of intravenous fluid was not associated with mortality. However, the effect of intravenous fluid volume on mortality differed significantly depending on pancreatitis severity. In severe pancreatitis, increased volume of intravenous fluid was associated with significant reductions in mortality (odds ratio = 0.655; 0.459-0.936; p = 0.020). Conclusions: In severe pancreatitis, more aggressive fluid prescription was associated with decreased mortality; however, this was not the case in milder disease. Further prospective trials guiding fluid resuscitation in severe pancreatitis are needed, as the impact of fluid on this population appears to differ from that in those with milder disease.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7844-7854
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• 2015

The purpose of this study is to investigate the drinking status, health behaviors, health related quality of life and depression among female problem drinkers and to examine the impact of their health behavior and health related quality of life on depression. The data of this study were derived from the 5th Korea National Health and Nutrition Examination Survey conducted during January 2010-December 2012. As for the subjects of this study, 328 female problem drinkers were selected who were classified as those with 8 or higher scores in the AUDIT, and complex samples analysis was conducted using the IBM SPSS Statistics version 21.0 software package. The study result showed that the risk of experiencing depression increased among subjects with a high level of perceived stress and subjects with a low level of health related quality of life. In addition, the risk of experiencing depression increased among subjects with 1-4 hours of sleep time compared to subjects with 8 or more hours of sleep time. Accordingly, it would be necessary to pay attention to stress, sleep time and health related quality of life that are related influencing factors for the improvement of depression and mental health of Korean female problem drinkers.

• Journal of Korean Society of Transportation
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• v.34 no.2
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• pp.146-157
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• 2016

The objective of this study is to actualize a statistical model of the 3-detector simplification model, which was proposed to detect outbreak situations by Daganzo in 1997 and to verify the statistical appropriacy thereof. This study presents the calculation process of the 3-detector simplification model and realizes the process using a statistics program. Firstly, the model was applied using data on detector of the main highways on which there is no entrances or exits. Moreover, in order to statistically verify the 3-detector simplification model, accumulative traffics for 30 seconds period, which reflects the dynamic changes of traffics due to shock wave, were estimated for outbreak traffics and steady flow, and the error of acquired data was statistically compared with that of the actual accumulative traffics. As a result, the error ratio between steady and incident cumulative flows has reached its maximum after 2-3 hours from an accident. Moreover, the incident traffic flows by accidents and the stade flows are heterogeneous in terms of their dispersion and means.

• Nuclear Engineering and Technology
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• v.48 no.5
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• pp.1273-1279
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• 2016

Production of iodine-131 by neutron activation of tellurium in tellurium dioxide ($TeO_2$) material requires a target that meets the safety requirements. In a radiopharmaceutical production unit, a new lid for a can was designed, which permits tight sealing of the target by using tungsten inert gaswelding. The leakage rate of all prepared targets was assessed using a helium mass spectrometer. The accepted leakage rate is ${\leq}10^{-4}mbr.L/s$, according to the approved safety report related to iodine-131 production in the TRIGA Mark II research reactor (TRIGA: Training, Research, Isotopes, General Atomics). To confirm the resistance of the new design to the irradiation conditions in the TRIGA Mark II research reactor's central thimble, a study of heat effect on the sealed targets for 7 hours in an oven was conducted and the leakage rates were evaluated. The results show that the tightness of the targets is ensured up to $600^{\circ}C$ with the appearance of deformations on lids beyond $450^{\circ}C$. The study of heat transfer through the target was conducted by adopting a one-dimensional approximation, under consideration of the three transfer modes-convection, conduction, and radiation. The quantities of heat generated by gamma and neutron heating were calculated by a validated computational model for the neutronic simulation of the TRIGA Mark II research reactor using the Monte Carlo N-Particle transport code. Using the heat transfer equations according to the three modes of heat transfer, the thermal study of I-131 production by irradiation of the target in the central thimble showed that the temperatures of materials do not exceed the corresponding melting points. To validate this new design, several targets have been irradiated in the central thimble according to a preplanned irradiation program, going from4 hours of irradiation at a power level of 0.5MWup to 35 hours (7 h/d for 5 days a week) at 1.5MW. The results showthat the irradiated targets are tight because no iodine-131 was released in the atmosphere of the reactor building and in the reactor cooling water of the primary circuit.

• Journal of Preventive Medicine and Public Health
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• v.56 no.2
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• pp.145-153
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• 2023

Objectives: Although it is difficult to define the quality of stroke care, acute ischemic stroke (AIS) patients with moderate-to-severe neurological deficits may benefit from thrombectomy-capable hospitals (TCHs) that have a stroke unit, stroke specialists, and a substantial endovascular thrombectomy (EVT) case volume. Methods: From national audit data collected between 2013 and 2016, potential EVT candidates arriving within 24 hours with a baseline National Institutes of Health Stroke Scale score ≥6 were identified. Hospitals were classified as TCHs (≥15 EVT case/y, stroke unit, and stroke specialists), primary stroke hospitals (PSHs) without EVT (PSHs-without-EVT, 0 case/y), and PSHs-with-EVT. Thirty-day and 1-year case-fatality rates (CFRs) were analyzed using random intercept multilevel logistic regression. Results: Out of 35 004 AIS patients, 7954 (22.7%) EVT candidates were included in this study. The average 30-day CFR was 16.3% in PSHs-without-EVT, 14.8% in PSHs-with-EVT, and 11.0% in TCHs. The average 1-year CFR was 37.5% in PSHs-without-EVT, 31.3% in PSHs-with-EVT, and 26.2% in TCHs. In TCHs, a significant reduction was not found in the 30-day CFR (odds ratio [OR], 0.92; 95% confidence interval [CI], 0.76 to 1.12), but was found in the 1-year CFR (OR, 0.84; 95% CI, 0.73 to 0.96). Conclusions: The 1-year CFR was significantly reduced when EVT candidates were treated at TCHs. TCHs are not defined based solely on the number of EVTs, but also based on the presence of a stroke unit and stroke specialists. This supports the need for TCH certification in Korea and suggests that annual EVT case volume could be used to qualify TCHs.

• Journal of Hospice and Palliative Care
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• v.1 no.1
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• pp.47-55
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• 1998

Background : It is almost important therapy modality to control pain for the terminal cancer patients for the last 24 hours because those terminally illed patient deserved to have pain free and peaceful time before death. Physician who is deal with terminal cancer patients for their last 24 hours does not need to worry about drug addiction or other untoward side reactions of pain medications. The purpose of this study was to evaluate if terminally illed cancer patient was given pain medication properly and sufficiently and if there was any different behavior to control pain of terminal cancer patients between medical physicians and surgeons in terms of type, amount and administration route and frequency. Methods : A retrospective chart audit of analgesic type, amount and administration route was performed on the medical recorders of 160 hospitalized terminal cancer patients who had died in the Korea University Medical Center Anam Hospital during the period of July 1, 1994 to June 30, 1995. Patients were classified into 103 patients were cared for by medical physicians and 57 patients were cared for by surgeons. After then, we analysed the difference of pain control pattern between them. Different types and amount of analgesics were converted to a common standard, an oral morphine equivalents(OME) relative to 1mg of oral morphine. Results : 1) The total number of patients was 160, male 102 cases(63.8%), and the female was 58 cases(36.2%) respectively. 2) The mean age was 56.4(${\pm}14.62$) years old and mean admission period was 27.8 days(${\pm}34.85$). 3) The frequent cancer site was stomach 42 cases(26.315), lung and liver 29 cases(18.1%) each, pancreas 10 cases(6.2%) in order 4) 125 out of 160 subjects (78.13%) complained pain, and 66 out of 103(64.08%) and 31 out of 57(54.39%) were treated with analgesics to relieve pain. 50 out of 97(51.55%) were able to continue on oral medication. 5) 86 cases(53.75%) were well oriented 24 hours prior to death. 6) The frequent analgesics for regular basis were long acting form of oral morphine 34 cases(Medical phsicians 24, Surgeons 10), intravenous morphine 26 cases(Medical physicians 20, Surgeons 6) in order, and the most common p.r.n.(pro re nata) analgesics used was intravenous morphine. 7) The mean amount of analgesics on regular basis was 115.41 OME by medical physicians and 52.7 OME by surseons(P<0.05). The mean amount of p.r.n. analgesics was significantly larger in patients are for by surgeons(66.64 OME) than medical physicians 23.49 OME(P<0.01). 8) The mean frequency of administrated number of p.r.n. analgesics was 0.62 times/day on medical part and 1.88 times/day on surgical part (P<0.001). Conclusion : Of the 97 patients with advanced cancer, 51.55% were able to take oral medications in the last day of life. The parenteral analgesics were more frequently used in the patients cared for by surgeons than medical physicians. Over the half of terminal cancer patients were well oriented in the last day of life. Doctor's knowledge and attitude towards pain is very important to mange the pain, effectively.

• Management & Information Systems Review
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• v.35 no.4
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• pp.123-140
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• 2016

This study investigates whether tax subsidy is associated with the information effect of future earnings (Future Earnings Response Coefficient, hereafter 'FERC'). Prior studies related with tax subsidy suggest that high- tax subsidy is associated with high-Conservatism. And high-tax subsidy is associated with low-information asymmetry. The hypothesis is tested by using sample firms listed on the Korean Stock Exchange from the year of 2002 to the year of 2009 inclusively. We followed methodology of Tucker and Zarowin (2006). We find that the regression coefficient for tax $subsidy{\times}X_{t3}$ shows a significant positive sign. Also, we performed additional test after controlling for variables related with FERC. The regression coefficient for tax $subsidy{\times}X_{t3}$ is consistent with main results. This result means that the changes in the current stock price of higher-tax subsidy contain more information about their future earnings than the changes in the stock price of lower-abnormal audit hours. The evidence suggests that investors positively understand high-tax subsidy.