• Asia Marketing Journal
• /
• v.15 no.3
• /
• pp.53-77
• /
• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Asia Marketing Journal
• /
• v.10 no.2
• /
• pp.71-98
• /
• 2008

Considerably many numbers of studies on country-of-origin(hereafter COO) effects have been presented in international business and marketing areas. Recent studies have been included the effects of COO of manufacture, parts, and design, as well as the effects of brand origin, reflected by the accelerating convergent manufacture circumstances and increasingly competitive environments. Moderating constructs such as knowledge of product category and involvement as individual variables, have been also introduced and researched in various angles. In addition, how the effects of COO occur as processes is also argued in previous studies. This research has attempted to explain business corporation's strategic decisions on choosing a domain of its product manufacturing for several critical reasons, for cost reduction or better image. We displayed two constructs of brand and manufacture in a positive and negative country image group to reconfirm the existence of the effects of COO. Additionally, the effects of respondents' regulatory fit between their motivational focus and the contents of product messages, have been declared. Furthermore the respondents' motivational focus moderates the main effect of COO on product evaluations in a positive 'made-in' combination, while, surprisingly, it does not statistically moderate in a negative, except attitude. Based on the results, implications and suggestions on how to plan and execute more effective marketing strategies regarding COO dimensions, especially COO of manufacture, are separately presented for each situations when it has already been determined and when it is to be.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.29 no.7
• /
• pp.857-862
• /
• 2023

In order for an autonomous ship to arrive near the pier and automatically berth without the help of a tugboat or pilot, it is necessary to recognize the pier and calculate the thruster output and output angle for berthing to the pier at a fixed berthing speed under given external force conditions. Therefore, in this study, the external force and moment acting on the ship while berthing were analyzed, and the thruster output calculation for automatic berthing was designed and the basic concept for the development of the automatic berthing program was designed. The wind pressure applied to the hull by the wind while the ship is berthing was calculated based on the wind pressure area and the wind direction angle and the turning moment to rotate the ship according to the transverse force of the ship was calculated. Considering the force acting on the ship and the turning moment during berthing, a theoretical formula was presented to calculate the thruster output and output angle for berthing parallel to the pier, and the turning due to other variables was controlled by the PID controller. In addition, the basic concept for program development was presented by analyzing the input elements necessary for the theoretical formula.

• Journal of the Korean Society of Radiology
• /
• v.17 no.6
• /
• pp.1009-1015
• /
• 2023

This study was a one-group pretest-posttest design experimental study that attempted to verify the effects of applying the Havruta learning method on the academic self-efficacy, academic achievement, and communication skills of radiology college students. This study was conducted from May 1 to June 23, 2023, and applied the Havruta learning method for 6 weeks to 38 second-year radiologists taking a radiology technology course at a university in Jeollanam-do. SPSS/WIN 21.0 was used for data analysis, the reliability of the scale was verified, the subject's general characteristics, pre-test values and post-test values for measurement variables were verified with descriptive statistics, and the difference between before and after the Havruta learning method was verified with paired t-test. Research results show that the Havruta learning method improves academic self-efficacy (t=-2.70, p<.001), academic achievement (t=-2.87, p=.006), and communication skills (t=-2.76, p=.008). showed a statistically significant difference. As a result, Havruta learning method was confirmed as an effective learning method that improves academic self-efficacy, academic achievement, and communication skills of radiology college students. In the future, expanded application of the Havruta learning method will be necessary.

• Journal of the Computational Structural Engineering Institute of Korea
• /
• v.37 no.2
• /
• pp.85-93
• /
• 2024

In this paper, we propose a method for establishing a state-space equation model for the motion analysis of floating structures subjected to wave loads, by applying system-identification techniques. Traditionally, the motion of floating structures has been analyzed in the time domain by integrating the Cummins equation over time, which utilizes a convolution integral term to account for the effects of the retardation function. State-space equation models have been studied as a way to efficiently solve floating-motion equations in the time domain. The proposed approach outlines a procedure to derive the target transfer function for the load-displacement input/output relationship in the frequency domain and subsequently determine the state-space equation that closely approximates it. To obtain the state-space equation, the method employs the N4SID system-identification method and an optimization approach that treats the coefficients of the numerator and denominator polynomials as design variables. To illustrate the effectiveness of the proposed method, we applied it to the analysis of a single-degree-of-freedom model and the motion of a six-degree-of-freedom barge. Our findings demonstrate that the presented state-space equation model aligns well with the existing analysis results in both the frequency and time domains. Notably, the method ensures computational accuracy in the time-domain analysis while significantly reducing the calculation time.

• Therapeutic Science for Rehabilitation
• /
• v.13 no.1
• /
• pp.87-97
• /
• 2024

Objective : This study aimed to acquire activities of daily living (ADL) skills through activity analysis and forward chaining in children with developmental disabilities. Methods : In this study, the performance of children with developmental disabilities was guided stepwise using a changing criterion design. The intervention was conducted in forward chaining after the therapist analyzed the activities of three tasks (shoes, shorts, and short-sleeved T-shirts) set as the Canadian Occupational Performance Measure (COPM). The performance rate at each stage of the three tasks was used as an independent variable, and COPM performance and satisfaction scores before and after the intervention were set as dependent variables. Results : The task performance rates of children wearing shoes, shorts, and short-sleeved T-shirts improved over time. Even at home, the scores for performance and satisfaction of all three tasks increased. Conclusion : Hopefully, activity analysis and behavioral chaining methods will be used not only for ADL but also for various tasks in children with developmental disabilities who have difficulty acquiring tasks.

• Journal of the Korea institute for structural maintenance and inspection
• /
• v.28 no.1
• /
• pp.70-81
• /
• 2024

In this study, Tridimensional Hybrid Isolation System(THIS) was proposed as a vibration isolator for traffic loads, combining vertical and horizontal isolation systems. Its efficacy in improving serviceability for vertical vibration was analytically evaluated. Firstly, for the analysis, the major vibration modes of the existing apartment were identified through eigenvalue analysis for the system and pulse response analysis for the bedroom slab using commercial structural analysis software. Subsequently, a 16-story model with horizontal, vertical and rotational degrees of freedom for each slab was numerically organized to represent the achieved modes. The dynamic analysis for the measured acceleration from an adjacent ground to high-speed railway was performed by state-space equations with the stiffness and damping ratio of THIS as variables. The result indicated that as the vertical period ratio increased, the threshold period ratio where the slab response started to be suppressed varied. Specifically, when the period ratio is greater than or equal to 5, the acceleration levels of all slabs decreased to approximately 70% or less compared to the non-isolated condition. On the other hand, it was ascertained that the influence of damping ratios on the response control of THIS is inconsequential in the analysis. Finally, the improvement in vertical vibration performance of THIS was evaluated according to design guidelines for floor vibration of AIJ, SCI and AISC. It was confirmed that, after the application of THIS, the residential performance criteria were met, whereas the non-isolated structure failed to satisfy them.

• The Journal of the Convergence on Culture Technology
• /
• v.10 no.2
• /
• pp.215-224
• /
• 2024

The purpose of this study was to examine research trends related to neonatal simulation practice education of domestic nursing students. It was a descriptive research study. For literature collection, a total of 17 journals were selected as a result of a search using ('Newborn Simulation') AND ('Nursing Student' OR 'Nursing College Student' OR 'Student Nurse') in 6 domestic electronic databases. The research results showed that it started with 7 journals from 2011 to 2015 and decreased slightly to 5 journals from 2016 to 2020 and 5 journals from 2021 to 2023. The research design was mostly quantitative with a total of 16 journals(94%). Among them, there were 15 intervention journals(88%), 1 descriptive research journals(6%), and 1 mixed method journals(6%). The key topics in simulation practice were high-risk newborns with 9 journals(52%), respiratory distress syndrome in neonatal intensive care units appeared with 3 journals(18%), neonatal care with 3 journals(18%), normal newborn care with 1 journal(6%), and neonatal emergency airway care with 1 journals(6%). The main outcome variables were clinical performance, accounting for 5 journals(19.2%), followed by practice satisfaction 3 journals(11.5%). clinical competency and practice satisfaction were found to have significant positive effects. In conclusion, various research methods are required, such as expansion of nursing students' neonatal simulation practice education, repeated research, and qualitative research.

• Journal of the Korean Applied Science and Technology
• /
• v.41 no.1
• /
• pp.96-106
• /
• 2024

This study aimed to examine the effects of non-face-to-face sleep program combined with aroma necklace on quality of sleep, daytime sleepiness, depression, and stress in insomnia with college students. A nonequivalent control group pre-post test design was used. The experimental group(n=21) underwent non-face-to-face sleep program combined with aroma-necklace while the control group(n=21) received a sleep booklet. Sleep quality, daytime sleepiness, depression, and stress were measured to identify the effectiveness of the program. Data were analyzed using descriptive statistics, Fisher's exact test, χ²-test, and independent t-test with the SPSS 24.0 program. In the homogeneity test of the general characteristics and study outcome variables there were no significant differences between the two groups. Significant group differences were found in sleep quality (t=-5.87, p<.001), daytime sleepiness(t=-4.28, p<.001), and depression(t=-4.40, p<.001). No differences were found in the stress. Non-face-to-face sleep improvement program combined with an aroma-necklace was effective in improving insomnia in college students. Nurses can contribute to improving sleep and depression by applying this program to college students experienced insomnia living in various environments.

• The Journal of the Acoustical Society of Korea
• /
• v.43 no.1
• /
• pp.103-111
• /
• 2024

Axial-flow fans are used to transport fluids in relatively low-pressure flow regimes, and a variety of design variables are employed. The tip geometry of an axial fan plays a dominant role in its flow and noise performance, and two of the most prominent flow phenomena are the tip vortex and the tip leakage vortex that occur at the tip of the blade. Various studies have been conducted to control these three-dimensional flow structures, and winglet geometries have been developed in the aircraft field to suppress wingtip vortices and increase efficiency. In this study, a numerical and experimental study was conducted to analyze the effect of winglet geometry applied to an axial fan blade for an air conditioner outdoor unit. The unsteady Reynolds-Averaged Navier-Stokes (RANS) equation and the FfocwsWilliams and Hawkings (FW-H) equation were numerically solved based on computational fluid dynamics techniques to analyze the three-dimensional flow structure and flow noise numerically, and the validity of the numerical method was verified by comparison with experimental results. The differences in the formation of tip vortex and tip leakage vortex depending on the winglet geometry were compared through a three-dimensional flow field, and the resulting aerodynamic performance was quantitatively compared. In addition, the effect of winglet geometry on flow noise was evaluated by numerically simulating noise based on the predicted flow field. A prototype of the target fan model was built, and flow and noise experiments were conducted to evaluate the actual performance quantitatively.