• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.67-77
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• 2016

Shareholders solely depend on annual reports to make investment, credit and other decisions. Investors expect that information should be reliable, relevant, comparable, consistent and thus easy to use for decision making. But whether the importance of annual reports to all shareholders is equally significant is a question of research. Thus, this research study tries to find out the importance of reading annual reports to the investors. A questionnaire survey is conducted on investors considering thirty one general shareholders and six brokers. This research based survey finds that most of the shareholders have no knowledge about accounting or finance and they have little knowledge about capital markets due to lack of training. This study also finds that general shareholders read an annual report at least moderately except value added statement, chairman's review, director's report and rumor. This study recommends human resource should be developed through adequate training, and annual reports should provide transparent and quality information which will ultimately increase the confidence of investors.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.293-304
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• 2020

The study reveals the extent of changes in selective financial numbers caused by fixed asset revaluation (FAR) and explores whether there was a management motive for playing the financial numbers game through using the FAR model. The data set consists of a sample of 142 listed companies purposively selected from 13 industries. The study found a significant impact of FAR on the net asset value (NAV), fixed asset intensity (FAI), and debt-to-equity ratio (DER). These findings are supported by the political cost and the debt covenant hypotheses. The study also observed a high growth of fixed assets by 9.5% to 14,603.8% resulting from FAR. More revealing is that FAR increased NAV in revaluer companies by an average of 427.20% as compared to 6.86% in non-revaluer companies. Even some companies with negative NAV took resort on FAR to show positive NAV. Besides, revaluer companies managed to reduce their DER by 70.45% as opposed to an increase of 8.45% in non-revaluer companies. Hence, the study concludes that most of the publicly-listed companies are involved in financial numbers game by the use of the FAR model. To build confidence among investors, companies should practice FAR rightly and disclose related information to help reduce information asymmetry.

• Journal of Construction Engineering and Project Management
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• v.5 no.4
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• pp.1-6
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• 2015

Due to unique characteristics of small construction companies, safety management is comprised of complex problems. This paper aims to better understand the complexity and dynamics of safety management in small construction companies. A system dynamics (SD) model was built in order to capture the causal interdependencies between factors at different system levels (regulation, organization, technical and individual) and their effects on safety outcomes. Various tests were conducted to build confidence in the model's usefulness to understand safety problems facing small companies from a system dynamics view. A number of policies were analyzed by changing the value of parameters. The value of a system dynamics approach to safety management in small construction companies is its ability to address joint effects of multiple safety risk factors on safety performance with a systems thinking perspective. By taking into account feedback loops and non-linear relationships, such a system dynamics model provides insights into the complex causes of relatively poor safety performance of small construction companies and improvement strategies.

• Journal for History of Mathematics
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• v.24 no.3
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• pp.145-163
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• 2011

This study sets the cut points of affective achievement scores based on the criteria referenced assessment. The modified Angoff method is applied to the standardized mathematics affect inventory which had validity and reliability. The cut points are set for 6 factors i.e. learning directivity, self control, anxiety, interest, cognizing value and confidence. As the results, among percentages of factor that middle school 2nd grade students in Korea achieved, the proportion of cognizing value is the highest. And there are no difference of the proportions as for gender, differentiated instruction, and region.

• Journal of Environmental Science International
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• v.16 no.7
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• pp.847-853
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• 2007

In Korean coastal areas, land reclamations are main development projects that should be based on environmental impact assessment(EIA), because those human interventions can change coastlines, damage tidal flats, and pollute adjacent areas to threat seafood safety and devaluate overall ecosystem service value. Existing procedures of the EIA for land reclamation projects were diagnosed and evaluated to enhance them. Problems were identified in the designation of survey areas, the consistency in survey sites and periods, the standardization of survey methods and reports, the confidence of survey results and the verification of predictions. Lack of integration was noticeable and could be improved by synthesizing different assessments from topography geography, marine physics, marine chemistry and marine biology. We suggest that successful precautionary marine environment management requires readjusting the cost of EIA, recruiting experts in marine environment, constructing database and establishing specialized assessment system.

• Proceedings of the Korea Society for Simulation Conference
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• 1999.10a
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• pp.63-69
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• 1999

The research trend of the simulation optimization has been focused on exploring continuous decision variables. Yet, the research in discrete decision variable area has not been fully studied. A new research trend for optimizing discrete decision variables ha just appeared recently. This study, therefore, deals with a discrete simulation method to get the system evaluation criteria required for designing a complex probabilistic discrete event system and to search the effective and reliable alternatives to satisfy the objective values of the given system through a on-line, single run with the short time period. Finding the alternative, we construct an algorithm which changes values of decision variables and a design alternative by using the stopping algorithm which ends the simulation in a steady state of system. To avoid the loss of data while analyzing the acquired design alternative in the steady state, we provide background for estimation of an auto-regressive model and mean and confidence interval for evaluating correctly the objective function obtained by small amount of output data through simulation with the short time period. In numerical experiment we applied the proposed algorithm to (s, S) inventory system problem with varying Δt value. In case of the (s, S) inventory system, we obtained good design alternative when Δt value is larger than 100.

• Korean Journal of Environment and Ecology
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• v.29 no.2
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• pp.292-303
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• 2015

The objective of this study is to evaluate the spatial restoration of Hampyeong Stream and to analyze the determinants of demand for the multi-functionalities of the stream. A Contingent Valuation Method (CVM) was used to estimate the multi-functional public benefits of restored stream area, and major determinants were scrutinized by establishing a demand model. The research data was collected by conducting a survey intended for Hampyeong's local residents, resulting in 284 valid samples. In terms of determinants that affect willingness to pay (WTP), 'physical factor of waterfront area' and 'experience factor of stream space' showed a significantly positive influence on WTP. As a result of applying a double-bounded CVM, the willingness to pay for the restored Hampyeong Stream area indicated a potential contribution of 22,523 won (17,362~27,459 won, 95% confidence interval). When multiplying the number of households in Hampyeong-gun, the total annual value of Hampyeong Stream spatial restoration is approximately 302million won.

• International Journal of Reliability and Applications
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• v.3 no.1
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• pp.1-16
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• 2002

In reliability engineering, the bathtub-shaped hazard rates play an important role in survival analysis and many other applications as well. For the bathtub-shaped, initially the hazard rate decreases from a relatively high value due to manufacturing defects or infant mortality to a relatively stable middle useful life value and then slowly increases with the onset of old age or wear out. In this paper, we present a new two-parameter lifetime distribution function, called the Loglog distribution, with Vtub-shaped hazard rate function. We illustrate the usefulness of the new Vtub-shaped hazard rate function by evaluating the reliability of several helicopter parts based on the data obtained in the maintenance malfunction information reporting system database collected from October 1995 to September 1999. We develop the S-Plus add-in software tool, called Reliability and Safety Assessment (RSA), to calculate reliability measures include mean time to failure, mean residual function, and confidence Intervals of the two helicopter critical parts. We use the mean squared error to compare relative goodness of fit test of the distribution models include normal, lognormal, and Weibull within the two data sets. This research indicates that the result of the new Vtub-shaped hazard rate function is worth the extra function-complexity for a better relative fit. More application in broader validation of this conclusion is needed using other data sets for reliability modeling in a general industrial setting.

• Journal of Fashion Business
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• v.16 no.6
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• pp.109-126
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• 2012

The purpose of this study was to examine the effect of price-attitude toward apparel products on shopping values and consumption behavior. The study was carried out in Deagu and Kyungbook area. Applying the convenience sampling, total 326 questionnaire were collected from university students who were randomly selected as participants. This study used frequency, factor analysis, reliability analysis, regression analysis, and t-test for data analysis. The finding are as follows. Price-attitude toward apparel products was categorized into information leading, price dignity, price discount, list price orientation, quality value and using coupons. Shopping tendency factors were found as pursuit of pleasure, pursuit of sociality, and pursuit of economic feasibility. Consumption behavior factors were categorized into impulsive buying, ostentatious consumption, utilization of internet information, possession of material and brand trust. Price-attitude toward apparel products had a significant effect on shopping values and consumption behavior. University students seemed to consider the value of money to be very important as well as economic feasibility. They utilized information from the internet to buy products with good quality and showed high usage level of coupons. And, university students who buy at a least price tried to show dignity with expensive brand products and they consider those brands express self-confidence.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.49
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• pp.43-57
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• 1999

The recent trend is that risk management has more and more its importance. Neverthless, Korea's risk management is not developed. Even most banks does gap, duration in ALM for risk management, development and operation of VaR stressed at BIS have elementary level. In the case of Fallon and Pritsker, Marshall, gamma model is superior to delta model and Monte Carlo Simulation is improved at its result, as sample number is increased. And, nonparametric model is superior to parametric model. In the case of Korea's stock portfolio, VaR of Monte Carlo Simulation and Full Variance Covariance Model is less than that of Diagonal Model. The reason is that VaR of Full Variance Covariance Model is more precise than that of Diagonal Model. By the way, in the case of interest rate, result of monte carlo simulation is less than that of delta-gamma analysis on 95% confidence level. But, result of 99% is reversed. Therefore, result of which method is not dominated. It means two fact at forecast on volatility of stock and interest rate portfolio. First, in Delta-gamma method and Monte Carlo Simulation, assumption of distribution affects Value at Risk. Second, Value at Risk depends on test method. And, if option price is included, test results will have difference between the two. Therefore, If interest rate futures and option market is open, Korea's findings is supposed to like results of other advanced countries. And, every banks try to develop its internal model.