• Korean Business Review
• /
• v.5
• /
• pp.137-159
• /
• 1992

• Journal of the Korean Regional Science Association
• /
• v.10 no.2
• /
• pp.53-60
• /
• 1994

• Journal of Digital Convergence
• /
• v.3 no.1
• /
• pp.115-148
• /
• 2005

This study is intended to suggest a more reasonable and practical method of estimating discount & capitalization rate for valuation of closely-held culture content business, that is, to modify the Buildup Summation Model(which is recommended for the closely-held business by the NACVA) by adopting the weighted ratings in the CT Project Investment Evaluation of the Korea Culture Contents Association to risk factors of the Buildup Summation Model. This method is ease to apply for closely-held culture content business and has advantages in applying the weighted rates based on the characteristics of respective culture contents. And it can make up for the Weighted Average Cost of Capital (WACC) which shows generally low discount rates.

• Information Systems Review
• /
• v.20 no.2
• /
• pp.39-62
• /
• 2018

Thanks to the growth of computing power and the recent development of data analytics, researchers have started to work on the data produced by users through the Internet or social media. This study is in line with these recent research trends and attempts to adopt data analytical techniques. We focus on the impact of "internal marketing" factors on firm performance, which is typically studied through survey methodologies. We looked into the job review platform Jobplanet (www.jobplanet.co.kr), which is a website where employees and former employees anonymously review companies and their management. With web crawling processes, we collected over 40K data points and performed morphological analysis to classify employees' reviews for internal marketing data. We then implemented econometric analysis to see the relationship between internal marketing and market capitalization. Contrary to the findings of extant survey studies, internal marketing is positively related to a firm's market capitalization only within a limited area. In most of the areas, the relationships are negative. Particularly, female-friendly environment and human resource development (HRD) are the areas exhibiting positive relations with market capitalization in the manufacturing industry. In the service industry, most of the areas, such as employ welfare and work-life balance, are negatively related with market capitalization. When firm size is small (or the history is short), female-friendly environment positively affect firm performance. On the contrary, when firm size is big (or the history is long), most of the internal marketing factors are either negative or insignificant. We explain the theoretical contributions and managerial implications with these results.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.3
• /
• pp.127-135
• /
• 2020

The paper aims to examine whether business cycles affect the link between financial development and bank risk, measured by Zscore and non-performing loans to total loans in six Southeast Asian countries, namely Indonesia, Philippines, Malaysia, Singapore, Thailand and Vietnam. This study uses a sample of 95 listed commercial banks over a 15-year period between 2004 and 2018 in the six Southeast Asian countries. This study employs panel OLS regression and modifications to tackle issues such as endogeneity and heteroscedasticity. The results show that the impact of stock market development (the ratio of the market capitalization to GDP) on Zscore is significantly positive, whereas its effect on non-performing loans is significantly negative. The findings suggest that financial development, in terms of stock market capitalization, improves banks' Zscores and reduces their level of non-performing loans, suggesting that financial development on average reduces bank risk. The impact of business cycle is insignificant towards bank risk, thus rejecting both counter- and pro-cyclical hypotheses, except for the case of risk indicator of loan loss provisions. Examining the joint effect of the business cycle and financial development on bank risk, we find that the phase of business cycles generally does not moderate the link between financial development and bank risk.

• Proceedings of the Technology Innovation Conference
• /
• 1999.12a
• /
• pp.159-177
• /
• 1999

Many companies still struggle with the issue of research and development(R&D) performance measurement, in particular, the nonfinancial performance measurement of R&D with coming of knowledge-based society, Of course, we would not deny the fact that financial measures play the central role in assessing the overall performance of R&D, The aim of this paper is to provide the new model to evaluate the quantitative value of technology (nonfinancial benefits). This new model is based on the technology stock(technology level) acquired in R&D process, That is, we take it for granted that the acquired technology below a certain level(<70% compare to the advanced country) can not be utilized in developing the new products or in proving the manufacturing processes, The evaluation model we create can explains the quantitative relation between the technology stock and the market value considering R&D expenditure to acquire the technology above certain level(>70%) and cost to prevent the technology obsolescence. The value of non-destructive testing technology, which is one of the electric Power technology, is measured quantitatively using our new model as a case study, We also discussed briefly the possibility of capitalization of the measured technology value.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.119-128
• /
• 2020

The aim of this paper is to investigate the level of intellectual capital disclosure (ICD) in commercial banks listed on the Indonesian Stock Exchange. This paper also observed the effects of ICD and corporate governance mechanism on market value. This study uses content analysis techniques to measure ICD. The paper provides a novel approach to measure the ICD quality in developing countries using a four-numerical coding system. Secondary data were obtained from the financial statements and annual reports of the banks for the period 2011-2014. The data from 31 banks were analyzed using ordinary least square regression. The study reports that the quality of intellectual capital disclosure in Indonesian commercial banks increase steadily. Narrative disclosure dominates the report of intellectual capital in Indonesian banks. The results indicate that the size of audit committee, frequency of audit committee meeting, and intellectual capital disclosure affect positively the market value. Overall, the results indicate intellectual capital disclosure is associated with the market capitalization; these findings indicate that the ICD is a consideration in a stock investment decision. While regulations in Indonesia regarding intellectual capital reporting are not conclusive yet, the information needs of stakeholders have encouraged companies to expand voluntary disclosure.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.1
• /
• pp.231-240
• /
• 2019

The paper aims to investigate the relationship between firm size and organizational actions on adopting social media for corporate reputation management. The sample group of 198 companies is selected with a simple random sample method from the New York Stock Exchange (NYSE) listings: Sixty nine companies were from the Fortune 500 listings, seventy one companies from the NYSE midsize capitalization and fifty eight companies from the NYSE small capitalization listings. This study employs cross tabulations and Chi-square analysis, and the Kruskal-Wallis that enables the comparison of three samples that are independent. The results of the study show that (1) large firms have more social media ownership than small firms, (2) large firms respond to social media posts at a greater frequency and quickly than small firms, and (3) firm size is less likely associated with response styles to social media for online reputation management. The results show that reply time and response styles of organizations to social media customers in the 2015 survey has no significant change compared to that of 2011. There appears to be a pervasive lack strategic framework as most firms in the study were found not to be adequately monitoring or leveraging social media communication for their reputation management.

• Journal of Internet Computing and Services
• /
• v.22 no.6
• /
• pp.51-57
• /
• 2021

If a company's actions to save or avoid taxes are judged to be tax evasion rather than legal tax action by the tax authorities, the company will not only pay tax but also non-tax costs such as damage to corporate image and stock price decline due to a series of tax evasion-related news articles. Therefore, this study measures the frequency of occurrence of tax evasion controversial keywords in internet news portal as a factor to measure the severity of the case, and analyzes the effect of the frequency of occurrence on corporate value. In the Korean stock market, we crawl related articles from internet news portal by using keywords that are controversial for tax evasion targeting top companies based on market capitalization, and generate a time series of the frequency of occurrence of keywords about tax evasion by company and analyze the effect of frequency of appearance on book value versus market capitalization. Through panel regression and impulse response analysis, it is analyzed that the frequency of appearance has a negative effect on the market capitalization and the effect gradually decreases until 12 months. This study examines whether the tax evasion issue affects the corporate value of Korean companies and suggests that it is necessary to take these influences into account when entrepreneurs set up tax-planning schemes.

• Journal of the Korean Home Economics Association
• /
• v.33 no.5
• /
• pp.153-166
• /
• 1995

The Purpose of this study is to investigate the father's role of childrearing appeared in Korean central daily newspapers. The method used for this study is the content analysis of the articles related with childrearing in Dong-a ilbo and Cho-seun ilbo from 1920's to 1970's. It is found that the articles dealt with childrearing were concerned on childrearing practices conformable with social change for industrial capitalization during twentieth century of Korea. These articles dealt with problems of practices in nurturing, teaching, diciplining and interfacing between home and institutional education of school. It is found that the father's role of childrearing were gender-nonspecipic.