• 제목/요약/키워드: Effect Analysis

검색결과 50,466건 처리시간 0.062초

What Drives the Listing Effect in Acquirer Returns? Evidence from the Korean, Chinese, and Taiwanese Stock Markets

  • Kim, Byoung-Jin;Jung, Jin-Young
    • Journal of Korea Trade
    • /
    • 제24권6호
    • /
    • pp.1-18
    • /
    • 2020
  • Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.

국내 패션 기업과 협력업체와의 관계에서 신뢰와 몰입의 선행변인과 결과변인 (Antecedents and Consequences of Trust and Commitment in Apparel Manufacturer-Contractor Relationships)

  • 박나리;박재옥
    • 한국의류학회지
    • /
    • 제36권1호
    • /
    • pp.56-67
    • /
    • 2012
  • This research investigates the effect of the antecedents (i.e. specific investment, opportunistic behavior, communications, uncertainty, interdependence, power imbalance, shared value, and flexibility) that influence the trust and commitment of domestic apparel manufacturers toward contractors as well as the effect of trust and commitment on firm performance and relationship satisfaction. A total of 128 apparel manufactures participated in this study. Factor analysis, Cronbach's alpha coefficient, and path analysis were conducted for the statistical analysis. Specific investment, communication, shared value, and flexibility had a positive effect on trust; however, opportunistic behavior had a negative effect. Interdependence, shared value, and flexibility had a positive effect on commitment; however, power imbalance and uncertainty had a negative effect. Trust did not exert an effect on commitment in this research; however, trust and commitment had a positive effect on firm performance; in addition, trust and commitment had a positive effect on relationship satisfaction. The findings offer insight on how to better manage apparel manufacturer-contractor relationships to ensure success.

비정규직 직업훈련효과 추정과 민감도 분석 (Estimation and Sensitivity Analysis on the Effect of Job Training for Non-Regular Employees)

  • 이상준
    • 응용통계연구
    • /
    • 제25권1호
    • /
    • pp.163-181
    • /
    • 2012
  • 비정규직 재직자 직업능력개발에 대한 훈련 효과 추정을 위해 이 연구에서는 통계청의 경활 자료와 비모수적 매칭 방법을 사용하였다. 추정결과 재직자 직업능력개발 훈련은 정규직 자에게는 정규직 유지가능성을 높이고 비정규직 자에게는 임금보다는 정규직 전환확률을 높이는 것으로 나타났다. 또한 미관찰 요인에 의한 추정결과의 강건성을 알아보는 민감도 분석에서는 미관찰 요인은 추정결과에 크게 영향을 미치지 않는 것으로 나타났다.

수학영재프로그램이 창의성 향상에 미치는 효과 메타분석 (Meta-analysis of the Effects of Gifted-mathematics programs on Creativity Improvement)

  • 조윤희;고호경
    • 과학교육연구지
    • /
    • 제41권3호
    • /
    • pp.499-518
    • /
    • 2017
  • 본 연구는 수학영재프로그램이 창의성 신장에 미치는 효과를 연구한 논문에 대한 메타분석연구이다. 이 연구의 목적은 수학영재교육이 영재아의 창의성 신장에 미치는 효과성을 밝히는데 있다. 연구 결과, 수학영재프로그램이 수학영재아의 창의성 향상에 미치는 전체 효과 크기는 .66으로 나타났으며, 이는 실험집단의 평균점(중간점)이 통제집단 내에서 75% 정도에 위치하는 효과이다. 둘째, 수학영재프로그램이 창의성의 하위 요소에 미치는 효과크기는 유창성이 .76, 융통성이 .60, 독창성이 .50, 수학적 사고능력이 .50으로 나타났다. 셋째, 수학영재프로그램이 미치는 초등영재의 효과크기는 .685로 중등영재의 효과크기 .457보다 높게 나타났다. 또한 창의적 문제해결력의 관계를 중재하는 수학영재프로그램의 프로그램 모형 변인으로 효과 크기를 계산하면 문제해결학습과 탐구학습모형이 높게 나타났다.

국내 임상간호사의 긍정심리자본 관련 요인: 체계적 문헌고찰 및 메타분석 (Factors Related to Positive Psychological Capital among Korean Clinical Nurses: A Systematic Review and Meta-Analysis)

  • 이병엽;정향미
    • 임상간호연구
    • /
    • 제25권3호
    • /
    • pp.221-236
    • /
    • 2019
  • Purpose: The purpose of this study was to systematically review and identify factors relevant to the positive psychological capital of clinical nurses. Methods: These was no limit on year of publication. Articles related to Korean clinical nurses were retrieved from computerized database using a manual search. A systematic review was conducted based on the PRISMA flow. The total correlational effect size (ESr) for each related factor was calculated from Fisher's Zr. Funnel plots, fail-safe numbers, and Egger regression tests were used to evaluate publication bias in meta-analysis studies. The correlational effect size of 25 studies was analyzed through meta-analysis using Comprehensive Meta-Analysis software 3.0 (CMA). Results: The review included 25 studies. In the systematic review, 14 demographic factors and 46 organizational factors were found to be influential. Eleven factors (6 demographic factors and 5 organizational factors) were appropriate for meta-analysis. The overall effect size was .26. The demographic total correlation effect size of related factors was .20 and the total effect size of organization was .46. Organizational commitment (ESr=.38) and job satisfaction (ESr=.54) were statistically positively related variables. Negative variables were burnout (ESr=-.61), turnover intention (ESr=-.41) and workplace bullying (ESr=-.33). The total effect size of the organizational factors was larger than the demographic total effect size. There was no publication bias except for demographic variables. Conclusion: Organizational factors and adjustable variables have a significant impact on positive psychological capital. The results of this study support the need for development of interventions focusing on organizational factors.

The Effects of Logistics Technology Acceptance in the Fourth Industrial Revolution on Logistics Safety Performance: The Moderated Mediating Effect of Logistics Safety Behavior through Safety Culture

  • Kim, Young-Min
    • Journal of Korea Trade
    • /
    • 제26권1호
    • /
    • pp.57-80
    • /
    • 2022
  • Purpose - This study aims to examine the relationships between the acceptance of the 4th industrial revolution logistics technology, logistics safety behavior, and logistics safety performance, as well as the moderated mediating effects of logistics safety behavior through safety culture in Korea. Design/methodology - Research models and hypotheses were established based on prior research related to the 4th industrial revolution logistics technology, logistics safety, and logistics performance. The survey was conducted on the employees of logistics companies, and reliability analysis, confirmatory factor analysis, discriminant validity analysis, structural equation model analysis, and mediating effect analysis were performed. In addition, the moderated mediating effect analysis applying SPSS Process Model No. 7 was conducted. Findings - Usefulness and sociality of the acceptance of the 4th industrial revolution logistics technology had a significant effect on logistics safety behavior. Ease of use, sociality, and efficiency had meaningful effect on logistics safety performance. And in the relationships between the acceptance of logistics technology and logistics safety performance, logistics safety behavior had a significant mediating effect. But the moderated mediating effect of safety behavior through safety culture was not significant. Logistics companies can improve logistics safety performance through the utilization of new logistics technologies such as intelligent logistics robots, autonomous driving technology, and artificial intelligence, etc. Originality/value - This is the first study to analyze the relationships between the acceptance of logistics technology in the 4th industrial revolution and logistics safety. In addition, previous studies analyzed mediating effects or moderating effects, but this is the first study to identify the moderated mediating effects of safety behavior through safety culture. In other words, it has originality in terms of research methodology.

불변시장점유율분석, 변이할당분석, 국별비교우위지수, 국별비교열위지수를 이용한 광양항의 수출경쟁력 분석 (Analysis of Export Competitiveness of Gwangyang Port Using Constant Market Shares Analysis, Shift-share Analysis, and Comparative Advantage (Disadvantage) by Countries)

  • 모수원
    • 한국항만경제학회지
    • /
    • 제33권3호
    • /
    • pp.91-104
    • /
    • 2017
  • 본고는 광양항의 수출경쟁력을 분석하기 위해 변이할당분석, 국별비교우위(열위)지수, 불변시장점유율분석을 함께 이용한다. 먼저 광양항의 주요 수출품목인 HS 39, 72, 28, 29의 국별비교우위지수를 도출하여 광양항이 중국에 대해 HS 39, 28에서는 비교우위를, HS 72에서는 비교열위를, HS 29에 대해서는 불안정한 우위가 있다는 것과 4개 품목 모두에서 비교우위정도가 계속해서 감소하고 있다는 것을 보인다. 국별비교열위지수를 이용하여 중국이 수입시장에서 다른 품목들에 비해 4개 품목에 대해 비교우위를 가지나 비교우위정도가 점차 감소하고 있다는 것도 밝힌다. 불변시장점유율 분석을 통해 중국의 수입구조는 불리하게 작용하는데 반해 중국의 수입규모효과는 모두 유리하게 작용한다는 것과 경쟁력효과는 HS 39와 29에는 불리하게 작용하나 HS 28과 72에는 유리하게 작용함을 보인다. 변이할당분석을 통해 4개 품목 모두 항만의 혜택을 받지 못하며, HS 28은 산업구조효과와 지역경쟁력이 긍정적이나, HS 72는 지역의 경쟁력은 있으나 산업구조가 불리하며, HS 39는 산업구조는 유리하나 지역경쟁력이 떨어지고, HS 29는 불리한 산업구조는 물론 경쟁력도 약함을 밝힌다.

잡크래프팅이 직무만족에 미치는 영향에서 지식공유행동과 혁신행동의 다중매개효과: 스마트워크 환경의 조절된 매개효과 (Multiple Mediating Effects of Knowledge Sharing Behavior and Innovation Behavior on the Effects of Job Crafting on the Job Satisfaction: The Moderated Mediating Effect of Smartwork Enviroment)

  • 윤병선;김미연;김천규
    • 한국콘텐츠학회논문지
    • /
    • 제22권4호
    • /
    • pp.231-245
    • /
    • 2022
  • 인간은 살아가면서 대부분 직장생활을 하게 되고 직장생활을 통하여 삶을 이어간다. 본 연구는 빠르게 변화하는 노동시장에서 잡크래프팅이 직무만족에 미치는 영향과 지식공유행동, 혁신행동, 스마트워크 환경 변수의 영향력을 파악하고자 한다. 또한, 남녀 집단으로 구분하여 잡크래프팅이 직무만족에 미치는 영향에 대하여 연구를 진행하였다. 연구는 설문에 응답한 직장인 453명을 대상으로 수행하였으며 SPSS 26.0과 Amos 26.0를 이용하여 빈도분석, 탐색적 및 확인적 요인분석, 신뢰도 분석, 기술통계, 상관관계, 구조모형분석, 다중매개효과, 다중집단 분석과 스마트워크 환경 조절효과는 Process macro model 7번을 이용하였다. 분석결과 첫째, 잡크래프팅은 직무만족에 유의한 영향을 미치고 있으며 둘째, 잡크래프팅은 지식공유행동과 혁신행동에 유의한 영향을 미치고 있었다. 셋째, 지식공유행동은 직무만족에 유의한 영향을 미쳤지만 혁신행동은 직무만족에 영향을 미치지 못하였다. 넷째, 지식공유행동과 혁신행동의 매개변수에 대하여 지식공유행동은 부분매개효과가 있었지만 혁신행동은 영향을 미치지 않았다. 다섯째, 스마크워크환경의 조절효과는 영향이 없는 것으로 나타났으며, 여섯째, 남성과 여성으로 구분하여 잡크래프팅이 직무만족에 미치는 영향에 대한 연구결과는 여성이 남성보다 더 큰 영향을 주었다.

글로벌 패션 소비자의 진 브랜드 구매행동 - 미국, 중국, 프랑스 소비자를 대상으로 - (Global Fashion Consumers' Purchase Behavior of the Jean Brands - Focused on USA, Chinese, and French Consumers -)

  • 박진아;고은주
    • 복식
    • /
    • 제61권10호
    • /
    • pp.119-134
    • /
    • 2011
  • The present study proposes and tests an integrative model for global consumers to examine the relation among fashion marketing mix, brand attitude, brand loyalty, and purchase intention in the jeans market. The questionnaire surveys 692 consumers in the United States, China, and France. The statistical analysis methods that are used are as follows: frequency analysis, factor analysis, SEM analysis, and multi-group analysis. The results show that fashionability, perceived quality, and advertising have a direct and also a positive effect on brand attitude; however, advertising didn't have a direct effect on purchase intention. In addition, the results of the SEM analysis show that brand attitude leads to brand loyalty, while also showing a direct and indirect positive effect on purchase intention. Furthermore, the multi-group analysis reveals significant differences in SEM among countries such as the United States, China, and France.

사이버 마아켓에서의 소비자 충동구매성향 분석 (An Analysis of Consumer Instantly Impulse Purchasing Propensity in Cyber Market)

  • 김영숙
    • 대한가정학회지
    • /
    • 제38권12호
    • /
    • pp.111-129
    • /
    • 2000
  • The purpose of this study is to investigate the level of consumer instantly impulse buying in cuber market user. Also this study analyzes causal effect on consumer instantly impulse purchasing by demographic and social, place and promotion, consumer emotion state, and consumer internal and psychological variables. The data had been collected from on-line research method with 1,034, as using cuber market. The major statistical methods used for data analysis are frequency, percentile, mean, factor analysis, multiple regression analysis, Pearson's correlation analysis, and path analysis. The result of causal effect analysis were as follows; First, the variables affecting possession oriented materialism were sex and age. Second, the variables affecting self-control were sex, income, account of credit card, and instantly state of mind. Third, variables directly affecting instantly impulse purchasing were serif employed, banner advertisement, experience of cuber shopping, shopping mall pattern, instantly state of mind, purpose of shopping, happiness and success oriented materialism, and self-control. Also sex, income account of credit card, and instantly state of mind emerge to indirectly effect via self-control. Especially, the variables of success oriented materialism and instantly state of mind influenced on the highest of relative variables in consumer instantly impulse purchasing.

  • PDF