• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.121-156
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• 2010

Back-door-listing can be viewed both as M&A and an alternative to IPO. If IPO is an access to the capital market through regulations, back-door-listing would be the way of entering the market through trading. Back-door-listing can be a better choice considering the common wisdom that regulations hinder the functioning of free market system. One would, however, prefer IPO, for the informational asymmetry isless severe in case of IPO. This paper examines if IPO is superior to back-door-listing as to the informational efficiency. The excess buy-and-hold returns of the Kosdaq back-door-listing firms are estimated over the three-year-period since the event. They are compared against the excess buy-and-hold returns of the Kosdaq IPO firms over the same period of time. The results confirm this paper's prediction that IPO should be more information-efficient. Both IPO and back-door-listing firms start with high short-term excess returns and end up with long-term under-performance. However, back-door-listing firms show more significantly damaging long-term results. Furthermore, back-door-listing firms record poorer accounting results over the research period. These results imply that there exists fad at the time of both events and, in case of back-door-listing, this fad is reinforced by the possibility of window dressing.

• The Korean Journal of Financial Management
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• v.26 no.2
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• pp.33-61
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• 2009

From the perspective of corporate governance, we examine the acquirers' performance of mergers and acquisitions in KOSDAQ Market. The empirical results of our study show that inside an executive shareholders and outside minor shareholders, affect acquirers' performance in M&A's : the ownership of outside minor shareholders is positively correlated with the performance of acquirers. and, the ownership of insiders, such as that of an executive shareholders, does have significant effect on the performance of M&A's. Since the current literature concludes that the improvement of corporate governance in KOSDAQ Market would enhance the shareholders' wealth, the results of our study implies that outside minor investors, as well as insiders, are playing an important role in the corporate governance.

• Journal of the Korean Institute of Landscape Architecture International Edition
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• no.1
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• pp.230-236
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• 2001

The usual definition of and urban resort was a place vastly different from places of daily life such as a theme park or other tourist destination. At the same time, revival of the combination of usual and unusual spaces, in a way like the mixed "Hare"(Special occasion of public event) and "Ke"(Daily life) spaces of communities of old Japan, is part of the idea of urban resorts. And they are places, which start by making a comfortable urban environment for citizens, providing a daily life full of culture and promoting a city′s identity to visitors. if we think about the kinds of structural elements of urban resorts, the usual elements include community, local culture and industry, while the unusual elements include symbols, festivities and interaction. Kobe Wing Stadium is a venue for the 2002 FIFA World Cup hosted by Korea and Japan. The city will build the stadium, but after construction management will be given over to private enterprise, hoping to utilize that sector′s business know how. A competition was held to determine the private executor who would be entrusted with the planning, design, construction and management of the project, considering the conditions of the area, the stadium′s relationship to it and local revitalization. The competition was won by a private enterprise (Kobe Steel Obayashi Group). The them of "Creation of a Sports Community Park" grapples with the large issue of the facility′s relationship with the community. American geographer Yi-fu Tuan coined the word "topophilia" to indicate love of a place. No other word could better describe the desired urban resort nature of the stadium. From this historical perspective it seems that stadiums have great potential as urban resorts. The factor that will determine their success is the attitude of citizens toward them, in short whether they develop topophilia for them or not. We examined the urban resort nature of Kobe Wing Stadium. Regarding daily life, we saw the attempts to revive the local community, the possibility of deepening the local culture and the weakened state of local industry. As a place that is for more than daily life, we saw the certainty of the stadium′s symbolism, its potential as a place for festivities and the test it will face as a space for interaction. Even though several issues are left for future resolution, evaluating Kobe Wing Stadium through these elements of an urban resort, it is clearly founded in the daily life of the community while providing a venue for "Hare"occasions. Fulfilling the roles of an urban resort, it provides many opportunities for local residents to enjoy their and gives visitors a reason to come repeatedly.

• Korean Security Journal
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• no.61
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• pp.9-38
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• 2019

As the scales & density of the Korean national infrastructures have been increased, they will be identified as rich and attractive potential targets for intensified North Korea's attack in the rear region and terrorism attack. In addition, due to changes in security environment such as drone threats and lack of security forces under the 52-hour workweek law, I think that it is the proper time point to reevaluate the effectiveness and appropriateness of the current physical protection system and its shift to a new system. In this study, the direction and improvement of the perimeter physical protection systems of the national infrastructures are to be studied from the viewpoints of its concepts of operations and design methodology, focusing on the nuclear power plant. The reason why we focus on nuclear power plants is because they cause wide-range and long-term damages caused by radioactive materials disperal and pollution, along with short-term damage caused by the interruption of electricity generation in the event of damage to nuclear power plants. With the aim of extracting improvement directions, as we will comprehensively review domestic research trends and domestic·overseas related laws, and consider Korea's specificity, we try to reframe the concept of operation - systematization, mobilization and flexibility -, and establish criteria on system change. In order to improve the technical performance of the new perimeter physical protection system, we study on high-fidelity·multi-methodology based integrated design methodology, breaking from individual silo-type design methods, and I suggest improvement of government procurement, its expansion to export business and other national infrastructure.

• Journal of Internet Computing and Services
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• v.17 no.6
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• pp.123-131
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• 2016

Process mining in big data environment utilize a number of data were generated from the business process. It generates lots of knowledge and insights regarding implementation and improvement of the process through the event log of the company's enterprise resource planning (ERP) system. In recent years, various research activities engaged with the audit work of company organizations are trying actively by using the maximum strength of the mining process. However, domestic studies on applicable sales auditing system for the process mining are insufficient under big data environment. Therefore, we propose process-mining methods that can be optimally applied to online and traditional auditing system. In advance, we propose continuous monitoring information system that can early detect and prevent the risk under the big data environment by monitoring risk factors in the organizations of enterprise. The scope of the research of this paper is to design a pre-verification system for risk factor via practical examples in sales auditing. Furthermore, realizations of preventive audit, continuous monitoring for high risk, reduction of fraud, and timely action for violation of rules are enhanced by proposed sales auditing system. According to the simulation results, avoidance of financial risks, reduction of audit period, and improvement of audit quality are represented.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.14 no.2
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• pp.115-121
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• 2021

This paper used big data and artificial intelligence technology to predict the rapidly increasing internet traffic. There have been various studies on traffic prediction in the past, but they have not been able to reflect the increasing factors that induce huge Internet traffic such as smartphones and streaming in recent years. In addition, event-like factors such as the release of large-capacity popular games or the provision of new contents by OTT (Over the Top) operators are more difficult to predict in advance. Due to these characteristics, it was impossible for an ISP (Internet Service Provider) to reflect real-time service quality management or traffic forecasts in the network business environment with the existing method. Therefore, in this study, in order to solve this problem, an Internet traffic collection system was constructed that searches, discriminates and collects traffic data in real time, separate from the existing NMS. Through this, the flexibility and elasticity to automatically register the data of the collection target are secured, and real-time network quality monitoring is possible. In addition, a large amount of traffic data collected from the system was analyzed by machine learning (AI) to predict future traffic of OTT operators. Through this, more scientific and systematic prediction was possible, and in addition, it was possible to optimize the interworking between ISP operators and to secure the quality of large-scale OTT services.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.4
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• pp.564-570
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• 2019

Although some studies have been attempted to utilize 3D spatial information for fire safety and disaster management, it is still not enough to apply it to actual work. Especially, in case of multi-use facilities, many facilities are more vulnerable to rapid response in the event of a disaster due to complexity of facilities, diversity of usage, and specificity of users. In this paper, we propose a method to develop a 3D safety status information platform that combines 3D spatial information and time - varying safety status information for efficient disaster management of multi-use facilities. In detail, first, we analyze the use cases of existing disaster management platform and the needs of business users. Second, based on the analyzed results, target facilities were selected and possible scenarios were created. Finally, we developed platform architecture design and service development strategy. The research results will be used as a basis for future 3D safety status information platform development. This will contribute to improving the safety of multi-use facilities and minimizing damage to disaster vulnerable groups.

• The Journal of Industrial Distribution & Business
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• v.13 no.6
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• pp.39-49
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• 2022

Purpose: As part of these efforts, in-depth research is needed on efficient and practical utilization of underground spaces and underground shopping malls. In addition, efforts are being made to find effective alternatives to various problems currently occurring in underground shopping malls, but it is not easy. In addition, the development entity and the maintenance entity are different from each other, and the management is not unified, making it difficult to maintain underground shopping malls. From this point of view, it can be said that it is time to actively and specifically discuss ways to revitalize underground shopping malls. Data and methodology: In the domestic distribution environment, traditional markets and shops are stagnating due to rapid changes in consumption patterns, such as the spread of large companies with advanced distribution techniques such as hypermarkets, shopping malls, and SCM, the rapid increase in Internet and home shopping, and the importance of convenience for young consumers. In order to revitalize underground shopping malls, it is necessary to strengthen the organization and self-rescue efforts of merchants' associations, change consciousness through merchant education, change to specialized markets, find nuclear stores and representative restaurants, and support the hardware sector. Results: The connection of underground shopping malls in each region of the country, where commercial districts are separated from each other, will also play an important role in reviving the function of the city in the future. To do this, it is first necessary to connect underground shopping malls that have been cut off. In other words, connection between connectable underground shopping malls should be promoted. Of course, long-term projects should be promoted step by step, and many consultations should be made on how to connect with the ground for each local government. Conclusion: This is because in the future, the underground space cannot just be a walking place, but another space of the Korean Wave where you can experience satisfying the five senses. K-shopping Hallyu content can be created by creating a characteristic story for each underground shopping mall in the city, permanently this story-oriented event, and creating a safe and elegant environment. If there is a story, so-called "Senomi Shopping" will be possible. A new Korean Wave will be created that can satisfy "the fun of writing, the fun of seeing, and the fun of feeling" at the same time.

• Journal of Digital Convergence
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• v.20 no.5
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• pp.227-232
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• 2022

This study is an exploratory study on the sustainable management of MICE events, and was conducted using the FGI method. Twelve experts in the MICE field, industry, and academia were selected as the subjects of the study. The reason is that understanding and specialty of those targets provides research reliability and validity. The study period was 3 months from June to August 2021. As a result, it is very important to prepare a sustainable development strategy in the MICE industry, and in particular, the need for guidelines to be practiced during event operation from the organizer's point of view was derived. In addition, to derive items that can be used in practice based on the theoretical basis, and it was necessary to derive research results using internationally recognized Sustainable Development Goals (UNSDGs) and sustainable MICE research developed in the fields of tourism and MICE. Therefore, through the verification of such experts in the field of MICE, theoretical and practical guidelines from the perspective of the organizer that can be used when holding MICE were developed. The results of the study will provide implications for establishing more effective strategies for hosting sustainable MICE events in the future.

• 지역과문화
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• v.7 no.1
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• pp.153-182
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• 2020

Andong is the place where the most ginger is produced in Korea. The article is based on a study on the development of storytelling of a co-brand of local agricultural products, focusing on the case of 'The Geudae Ginger,' a co-brand of ginger in Andong. This study aims to develop a brand storytelling of Andong Ginger's co-branded 'Geudae Ginger' to build an image as a local specialty and help revitalize the Andong ginger's industry. The process of developing storytelling to activate 'Geudae Ginger' brand is as follows. In the first step, I collected storytelling materials through data research. Ginger, which has long been used as a medicine for mankind, has more historical and cultural stories than anything else. In the second step, story resources were extracted based on data research. By analyzing the story properties of Andong ginger, we made its list. As a result, the image of the nobility, rigidity and chastity of ginger, which is used to benefit all over, could be associated with the image of Andong, the capital of Korean spiritual culture. Storytelling was developed in the third step. The main theme was 'Andong ginger with anther level ' and the main story was 'The Story of Andong's Ginger Teacher'. The scenario developed is as follows: 1. Introducing Andong's Ginger Teacher, 2. The birth of Dosan Thirteen Tea, 3. 'Geudae Ginger' that bridges love. In the last fourth step, I proposed ways to utilize storytelling. I presented the spread methods of consumer-participated storytelling using images of 'Geudae Ginger' and a new-tro event with teachers highlighting the image of 'Ginger Teacher' and others as a local business program for storytelling expansion.