• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.373-381
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• 2021

This study aims to investigate the impact of financial distress on the cash holding of non-financial companies in Indonesia as the largest emerging economy among ASEAN countries. Furthermore, the sub-sample business group to be investigated were divided into two, groups namely affiliated and non-affiliated groups. This was carried out to ascertain the difference in the impact of financial distress on cash holding between both groups. Sample collection was based on all firms listed on the Indonesian Stock Exchange (IDX) during 2008-2017, comprising 137 firms. The results showed that using the two-step system Generalized Method of Moments (GMM), the coefficients for financial distress (Z-Score) indices were positive and significant for all models. Therefore, the higher the Z-Score value, the lower the company's financial distress and vice versa. This implies that the lower the company's financial distress, the lower the cash holding. Furthermore, a positive and significant impact of the Z-Score on cash holding for non-affiliated groups was discovered. This implies that there are differences in the amount of cash holding between affiliated and non-affiliated groups. This result indicates that non-affiliated groups hold more cash during financial distress. However, these results had cash policy implications, particularly for non-affiliated groups.

• The Journal of Asian Finance, Economics and Business
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• 제5권4호
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• pp.127-133
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• 2018

Corporate social responsibility (CSR) is one of the strategies for managing firms' business activities but may have heterogeneity depending on ownership structures. This study investigates the association between group-affiliation and CSR activities. Drawing on a theory from the prior research, this study predicts that group-affiliated firms are less likely to invest on CSR activities. For instance, prior research finds that controlling shareholders expropriate the values of minority shareholders. As one of the motivations of investing on CSR activities is the harmonization among the stakeholders, it leads to the prediction that firms controlled by large shareholders are less likely to engage in CSR activities. Second, group-affiliated firms under poor financial performance benefit from other group members through sharing their financial resources. Thus, there is less incentive for managers of group-affiliated firms to increase their financial performance by conducting CSR. By leveraging firms listed in Korean stock market and CSR score from Korea Economic Justice Institute, the result shows that the group-affiliation is negatively related to CSR activities. The result is consistent in case of applying propensity score-matched sample. Based on the findings of this study, this paper contributes to the related literature by showing the significant association between group-affiliation and CSR decisions.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.305-313
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• 2019

The study examines whether higher CEO compensation is related to unobserved future firm performance in an emerging market, Pakistan. Further, it extends its scope to analyzing the impact of group affiliation and ownership concentration on the relationship between CEO compensation and future firm performance. The study uses an unbalanced panel data consisting of 1508 firm-year observations from 225 non-financial listed companies in Pakistan Stock Exchange (PSX) for period 2005 to 2012. The multiple regression models adjusted to heteroskedasticity and autocorrelation in error terms are used. The study finds that, in general, CEO compensation is positively associated with future operating performance. However, higher CEO compensation leads to lower operating performance in firms that have lower ownership concentration and are affiliated with business groups. When firms are not affiliated with any group and have high ownership concentration, the relationship between excessive CEO compensation and future operating performance becomes insignificant. Given that efficient compensation packages may lead to long term value creation to shareholders and reduce agency problems, this study highlights an important moderating role of ownership concentration and group affiliation of the firms in emerging markets.

• 한국전기전자재료학회:학술대회논문집
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• 한국전기전자재료학회 2007년도 하계학술대회 논문집 Vol.8
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• pp.109-110
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• 2007

Plasma etching process에서 magnetic field 영향에 관한 연구이다. High level dry etch process를 위해서는 high density plasma(HDP)가 요구된다. HDP를 위해서 MERIE(Magnetical enhancement reactive ion etcher) type의 설비가 사용되며 process chamber side에 4개의 magnetic coil을 사용한다. 이런 magnetic factor가 특히 wafer edge부문에 plasma charging에 의한 damage를 유발시키고 이로 인해 device Vth(Threshold voltage)가 shift 되면서 제품의 program 동작 문제의 원인이 되는 것을 발견하였다. 이번 연구에서 magnetic field와 관련된 plasma charge damage를 확인하고 damage free한 공정조건을 확보하게 되었다.

• 벤처창업연구
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• 제9권2호
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• pp.81-86
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• 2014

본 논문에서는 그룹교체 정책과 예비품 재고정책을 동시에 고려하여 최적화하는 방안을 제시한다. 일반적으로 보전정책들은 예비품의 재고가 늘 가용하다고 가정하고 있으나 예비품의 재고 확보 여부에 의해 보전활동은 영향을 받을 수밖에 없다. 동일한 여러 유닛들이 동시에 운용될 때 이용되는 그룹교체정책을 바탕으로 이를 지원하기 위한 최적 재고수준을 결정한다. 일정한 개수의 유닛이 고장 나는 시점에서 그룹교체를 수행한다. 예비품의 재고는 일정 횟수의 그룹교체를 할 만큼 주문하여 유지한다. 보전비용과 재고비용 등 운용비용을 최소화할 수 있는 최적의 그룹교체 주기와 재고수준을 구한다.

• 영어어문교육
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• 제17권3호
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• pp.73-98
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• 2011

This study investigated the feasibility and effectiveness of incorporating oral corrective feedback into the content-based business English writing class. Two types of oral corrective feedback, recasts and metalinguistic feedback, were integrated into business English writing classes to help low intermediate-proficiency Korean university students improve the ability to use the simple past, present progressive, and present perfect tenses correctly in their written production. Prior to the treatments, the subjects had basic grammatical knowledge of the target verb tenses, but they had only limited control over them in their written production. Three groups were formed: recast group that received corrective recasting, metalinguistic group that received metalinguistic clues, and control group that received no oral corrective feedback. The study demonstrated that it was feasible to incorporate recasts and metalinguistic feedback into content-based business English writing classes and that metalinguistic feedback had greater and more endurable effects than recasts on promoting the correct use of the target verb tenses in written production. It can be concluded that oral corrective feedback, metalinguistic feedback in particular, can be used in the business English writing classroom to help students gain greater control over already partially acquired forms and therefore improve their writing accuracy.

• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.363-372
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• 2022

The purpose of this study is to investigate COVID-19's impact on firm survival, as well as the management accounting system's role in adjusting operation efficiency for business survival. Two sets of data comprising small enterprises in the service sector were used. The first business group serves customers who have changed their lifestyle to a new normal. The second business group serves customers who are affected by social distancing measures. The data was collected based on an in-depth interview method. The data was then evaluated using content analysis and analytic comparison. The results show that the COVID-19 situation positively impacts the business survival of the service businesses group that serves customers who have changed lifestyles. However, COVID-19 has a negative effect on the survival of service business groups that serve customers affected by social distancing measures. In addition, the management accounting used during COVID-19, small enterprises have analyzed the operating environment and used the information stored in the database to determine goals for the operation. This study provides comprehensive economic effects and the utilization of management accounting systems. The accounting systems helped to decide to adjust the operation process during the quick changing of the environment of the small enterprise in the service sector.

• 한국정보디스플레이학회:학술대회논문집
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• 한국정보디스플레이학회 2008년도 International Meeting on Information Display
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• pp.235-238
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• 2008

We report the improvement in brightness through the optimization of the organic passivation process for fabricating a TFT substrate for LCD-TV panel. In conclusion, the optimization of organic passivation was accomplished with improving over $10\;cd/m^2$ in brightness than that of a conventional organic passivation process.

• 가족자원경영과 정책
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• 제14권2호
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• pp.59-77
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• 2010

This research evaluated the present condition of the family voluntary service group and healthy family campaign, which was being carried out as one of the healthy family culture businesses of the Healthy Family-Support Center. Furthermore, it suggests ways to improve these business activities. Research centered on the analysis of business documents created between December 2006 and November 2007. The results were as follows. First, the family voluntary service group and the healthy family campaign business in the Center must be able to have specificity or individuality. Second, the Center must manage the scale, frequency, and contents of the businesses systematically. Third, the businesses must concern themselves with family life in general, make better use of the advisory committee or steering committee, concern variety of business performing system.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2005년도 추계학술대회 논문집
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• pp.1268-1275
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• 2005

The computerization works and environment have been changed from simple transaction and data process request to system connection request, from data computerization to application work automation and process computerization through IT development and Internet spread. Recently, BPM(Business Process Management) concept has been widely propagated. It is expanding interest of business subject. Korea Railroad is operating train operation management system through 5 regional headquarters and organizations under the influence of each regional headquarter. But integrated operation and management of communication each department, work flow management and resources of depot equipment and materials have to need a lot of effort and time in huge organization as Korea Railroad. Therefore, this article realized Web Based BPM Group Ware. This article will define Korea Railroad organization and business process in using this Group Ware. And it will introduce Korea Railroad computer manage system of this Group Ware and efficient Korea Railroad Business Process through modeling and operating department work and resources management in Korea Railroad.