• The Journal of Industrial Distribution & Business
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• v.9 no.7
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• pp.53-59
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• 2018

Purpose - This study examines the effect of control-ownership wedge on stock crash risk. In Korea, controlling shareholders have exclusive control rights compared to their cash flow rights. With increasing disparity, controlling shareholders abuse their power and extract private benefits at the expense of the minority shareholders. Managers who are controlling shareholders of the companies tend not to disclose critical information that would prevent them from pursuing private interests. They accumulate negative information in the firm. When the accumulated bad news crosses a tipping point, it will be suddenly released to the market at once, resulting in an abrupt decline in stock prices. We predict that stock price crash likelihood due to information opaqueness increases as the wedge increases. Research design, data, and methodology - 831 KOSPI-listed firm-year observations are from KisValue database from 2005 to 2011. Control-ownership wedge is measured as the ratio (UCO -UCF)/UCO where UCF(UCO) is the ultimate cash-flow(control) rights of the largest controlling shareholder. Dependent variable CRASH is a dummy variable that equals one if the firm has at least 1 crash week during a year, and zero otherwise. Logistic regression is used to examine the relationship between control-ownership wedge and stock price crash risk. Results - Using a sample of KOSPI-listed firms in KisValue database for the period 2005-2011, we find that stock price crash risk increases as the disparity increases. Specifically, we find that the coefficient of WEDGE is significantly positive, supporting our prediction. The result implies that as controlling shareholders' ownership increases, controlling shareholders tend to withhold bad news. Conclusions - Our results show that agency problems arising from the divergence between control rights and cash flow rights increase the opaqueness of accounting information. Eventually, the accumulated bad news is released all at once, leading to stock price crashes. It could be seen that companies with high control-ownership wedge are likely to experience future stock price crashes. Our study is related to a broader literature that examined the effect of the control-ownership wedge on stock markets. Our findings suggest that the disparity is a meaningful predictor for future stock price crash risk. The results are expected to provide useful implications for firms, regulators, and investors.

• The Korean Journal of Archival Studies
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• no.79
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• pp.121-168
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• 2024

Record & archives management is at the heart of archival science. We must be faithful to record & archives management. However, isn't there a paradox that arises the more faithful we are to record & archives management? The paradox is that 'being a responsible manager and efficiently managing records' is rather reduces the interest in the social existence of humans who create and use such records. Why do humans produce and use records? It may be because human beings have been living with the concept of records. The concept is 'the same as the design of thoughts'. There is no need to doubt this direction because as record & archives management develops, more valuable records are preserved more systematically, and they are been served with wider scope and appropriateness. However, if we observe this situation from a human point of view rather than record & archives management, we find that humans appearing in record & archives management are limited to the object of using records. If humans are perceived differently based on the hypothesis of reviewing from the ground up, we can encounter a unique context about the relationship between humans and records or between records and humans. If it reaches the norm that human beings have dignity that cannot be transferred to anyone, have the right to pursue happiness, and must live by enjoying freedom, equality, and social basic rights, in short, if human beings are recognized from a constitutional point of view, we can newly recognize the social role and direction of records. The constitution and international human rights norms document basic human rights as the final norm and clarify that it is the duty of the state to guarantee and practice them. The social role of records from a constitutional point of view is the practice of records that proliferate basic human rights. The practice of archiving, which multiplies basic human rights, may also be a civic consciousness required of experts, but on the other hand, it can be a professional way for archival studies. If record management is a two-lane round trip, it can be said that the interaction between record management and record practice, which multiplies basic human rights, is a pioneering four-lane round trip. This article examines the practice of archiving, which has been developed in and out of record & archives management, by clearly grasping the constitutional perspective from the perspective of archival studies, and examines the social role of archival studies in this context. The social role of archival studies is to provide new linguistic rules for archiving.

• Journal of the Korean Society of Costume
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• v.60 no.8
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• pp.151-167
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• 2010

This research is to analyze ethics in fashion design for more valuable and sustainable human life against the increasing alienation of the human being, the global ecological crisis resulted from contemporary consumption society. I expect that it can be helpful to plan ethical fashion design practice more effectively. For this, the documentary study and practical case study have been executed. The results are as follows. The ethics in design can be defined as the responsibility to reform the social, environmental problem of consumptive design, to sustain together without human alienation, environment disruption and to do social good for total human being ultimately. The ethical design practice means to suggest solutions to problems of human rights and environment and to act willingly. Based on this, ethical fashion design appeared as responsible design solution which has two directions. One is the fashion design for coexistence and sharing, including the design for all which considers even underprivileged minority, the design to promote public issues as well as to donate some profits. The other is the eco fashion design for sustainable environment, including eco-friendly design which is reductive and slow in whole design process, the design to inform the seriousness of environmental crisis as well as to donate some profits. The last one of the most important ethical responsibility as fashion designer is to abide by vocational ethics, that is, the prohibition of design piracy.

• Journal of the Korea Fashion and Costume Design Association
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• v.17 no.4
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• pp.67-76
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• 2015

The purpose of this study is to set a direction for the development of men's underwear after analyzing current applications for patent regarding men's special-purpose underwear. In terms of a research method, the disclosed patents and utility models were investigated using the patent information database provided by Korea Institute of Patent Information (KIPRIS, http://www.kipris.or.kr). For this, the patents applied from 1990 to October 2015 were targeted. The keywords used for patent search were 'men's underwear' and 'men's special-purpose underwear.' When searched by the keywords above, a total of 1,089 cases were found. Except for expired or cancelled ones, 243 cases were investigated. Then, annual application trends, current registrations on literature records, classification of utility model right holders and contents by topic were analyzed. In terms of data analysis, frequency analysis, crosstabulation analysis and multiple response analysis were conducted, using SPSS 18.0. The results found the followings: In terms of annual application trends, the number of applications for patent started to gradually increase since 2007. Since 2011, it has rapidly increased. In terms of the number of patent registrations, literature registration was far higher than utility model registration. In terms of application rights, 'individually registered (58.8%)' was higher than 'registered by the organization (41.2%).' Among 243 cases, 'underwear (58%)' was the highest, followed by 'men's underwear-related items (29.2%)' and 'thermals (8.2%).' According to analysis on the details of the patent applied for men's underwear, 'penis-scrotum separation' was most focused, followed by 'disposable product' 'airy features,' 'scrotum protection' and 'structure of underwear.'

• The Korean Journal of Community Living Science
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• v.17 no.4
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• pp.113-125
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• 2006

The purpose of this study was to analyze the status of intellectual property rights and developmental direction for brands of special rural products in Korea. The data was derived from 166 special rural products in Korea. The major results of this study were as follows: Enterprises having intellectual property rights above one were Traditional soybean sauce 18(56.2%), Hangwa 15(42.9%), Kimchi 18(43.9%), Traditional tea 20(80%) and Crafted products 10(31.3%), respectively. Enterprises acquiring designation and certification due to national and local autonomous entities over one were Traditional soybean sauce 17(56.7%), Hangwa 23(63.9%), Kimchi 33(80.4%), Traditional tea. 13(52%), and Crafted products 20 (62.5%), respectively. The trademark registration of special rural products was invested with total 62 cases(37.3%) as Traditional soybean sauce 14(43.7%), Hangwa 15(41.7%), Kimchi 17(41.5%), Traditional tea. 12(48%) and Crafted products 4(12.5%). And Patent registration 39 cases(23.5%), design registration 32 cases(14.5%), and utility model registration 5 cases (3.01%) were invested respectively. It was shown that, where the origin of brand names was a proper non 107 were things(53%), 39 were materials(19.3%), 17 were the production method(8.41 %) and 55 were a composite trademark(33.1%).

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2008.10a
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• pp.516-519
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• 2008

Currently broadcasting and telecommunication has integrated, And IPTV Service has appeared who called TPS(Triple Play Service) which integrated with broadcasting, telecommunication and Phone Service. IPTV provide broadcasting service and VOD(Video on Demand) service, and it must be satisfied digital content security. For this condition, IPTV Forum working on standardization of interface for digital content security. The Security solution for broadcasting and VOD are CAS(Conditional Access System) and DRM(Digital Rights Management). But these solutions manufactured by many vendors, so there is no inter-operablity. And after finished standardization of interface for CAS and DRM system, the problem of inter-operability with them will be issued. For this reason, Rights management system which possible to operate independently with platform is necessary. In this paper, To protect multimedia digital content, we designed and implemented Conditional Access Management System.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• v.9 no.2
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• pp.623-626
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• 2005

The technique of developing Digital Contents have still not be a standard, and it is cause some problems in the Digital Contents's creating, circulation and consumption, So solve the problem, MPEG suggest MPEG-21 framework. In the standard, The IPMP take charge of the Digital Contents's protection and management, and also it is the same as the rights expression language REL and the dictionary defining the word of REL. But. the study of the IPMP is later than the study of REL and RDD, such as the other study of the MPEG-21 standard. So, there is few system based REL and RDD. In this paper, in order to management and protect contents right. So facing the latest standard, we designed and implementation the Tool Server and the License Server based on REL/RDD.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.10 no.6
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• pp.1003-1010
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• 2006

The usage increase of digital contents required solution for protection technology and interoperability of system. MPEG(Moving Picture Experts Group) proposed MPEG-21 Multimedia Frameworks. MPEG-21 IPMP is standard that provides the means to enable digital item and rights information to be persistently managed and protected across networks and devices. In this paper, MPEG-21 IPMP based system to protect digital contents designed by four structures of license server, production server, consumption server, tool server. License server create rights information document using the XML-based REL about multimedia contents of users. Production server makes a digital item by packaging multimedia resource and metadata, which is combined by REL information and IPMP information of multimedia resource. Consumption server takes care of the functions of players that use digital item, and tool server was implement to transmit for missing tool that might occur in all procedures.

• KIPS Transactions on Computer and Communication Systems
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• v.2 no.12
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• pp.553-560
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• 2013

The development of cloud computing technology and smart devices have increasingly been expanding the influence in various fields. Although DRM(Digital Rights Management) is a very important technology for secure content services, interoperability among DRM technologies must be addressed in order to provide the service without the constraints of time and place on various smart devices. In this paper, we study DRM Cloud which provides DRM functions as a service in cloud computing environment, and address interoperability problem by providing different DRM technologies as a cloud service. That is, when a user wants to play contents with the different DRM technologies on a smart device, the usage of the content is controlled by providing the corresponding DRM module and function as SaaS from DRM cloud. To do this, we define the functions and structure of DRM Proxy which performs smooth service call and provision between DRM cloud user and DRM cloud, and finally we describe the experimental implementation result.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.667-673
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• 2021

Unauthorized generations and sales of non-funable tokens (NFTs) without the consent of the creator is one of the biggest problems that arise in NFT Marketplaces. This study proposes a method to practically reduce the problem of NFT sales without the consent of the creator by means of authentication with social media accounts. Through the proposed method, creators who are already using social media as a means of communication and marketing for creative activities can authenticate with their own accounts. Creators who have difficulty authenticating with their own accounts will be provided with alternatives to authenticate using human networks. In addition, the proposed method of protecting creator rights was designed using a flowchart to enable development using only the public API (Application Programming Interface) provided by social media. The proposed method can protect creators' rights and reduce damage caused by NFT fraud by inducing buyers to trade NFTs of authorized sellers through social media.