• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.3
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• pp.337-345
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• 2018

The purpose of this study is to analyze the relationship between the characteristics of Korean family firms and the impact of debt financing. The analysis period was 10 years from 2004 to 2013, and the sample consisted of 4,008 non-financial firms listed on the Korea Exchange. For the analysis, the unbalanced panel data with time - series, cross - section data were formed and analyzed using panel data regression analysis. The results are as follows. First, Korean family firms use relatively less debt than non - family firms. It can be understood that family firms in which the dominant family owns and dominates the corporation are less likely to increase their debt because the agent problem is alleviated and the need for the control effect of Jensen (1986) is lowered. Second, in the verification of the packing order theory using the model proposed by Shyam-Sunder and Myers (1999), family firms have higher compliance with the packing order theory than non-family firms do. When financing is needed, debt is preferred over equity issuance. However, for Korean family firms, 24.38% of the deficit funds are financed through the issuance of net debt, which is relatively low compared to the 75% shown in the analysis of Shyam-Sunder and Myers (1999). These results reveal the limit to the strong claim that the Korean family firms follow the packing order theory.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.245-255
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• 2012

Greenberg(1990) suggested that organizational justice research may potentially explain many organizational behavior outcome variables. One such example of nontraditional job behavior is organizational citizenship behavior and service quality, for they are part of the spontaneous and innovative behaviors noted by Katz(1964). Stimulated by conceptualizations of justice in organizations by such theorists as Homans(1961), Admans(1965), and Walster, Berscheid, and Walster(1973), organizational researchers devoted considerable attention in the 1960s and 1970s to testing propositions about the distribution of payment and other work-related rewards derived from equity theory. Although reviews and critiques of equity theories once dominated the pages of organizational journals, more recently it has been the subject of far more attention(Reis, 1986). In one notable recent trend, researchers and theorists have expanded on conceptualizations of procedural and distributive justice by turning attention to the interpersonal aspects of justice, the perceived fairness of the way people are treated by others. With the rapid and uncertain changes of organization, such voluntary behaviors as OCB, service quality, and innovative behavior have become more important for the development and survival of organization. Thus it is very important to keep the organization fair for keeping employees participative in organization. Here it is reviewed the relationship between organizational justice and it's related factors(OCB, service quality and innovative behavior).

• The Mathematical Education
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• v.59 no.1
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• pp.63-80
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• 2020

This study analyzed 3,114 articles published in KCI journals and 1,636 articles published in SSCI journals from 2000 to 2019 in order to compare domestic and international research trends of mathematics education using a topic modeling method. Results indicated that there were 16 similar research topics in domestic and international mathematics education journals: algebra/algebraic thinking, fraction, function/representation, statistics, geometry, problem-solving, model/modeling, proof, achievement effect/difference, affective factor, preservice teacher, teaching practice, textbook/curriculum, task analysis, assessment, and theory. Also, there were 7 distinct research topics in domestic and international mathematics education journals. Topics such as affective/cognitive domain and research trends, mathematics concept, class activity, number/operation, creativity/STEAM, proportional reasoning, and college/technology were identified from the domestic journals, whereas discourse/interaction, professional development, identity/equity, child thinking, semiotics/embodied cognition, intervention effect, and design/technology were the topics identified from the international journals. The topic related to preservice teacher was the most frequently addressed topic in both domestic and international research. The topic related to in-service teachers' professional development was the second most popular topic in international research, whereas it was not identified in domestic research. Domestic research in mathematics education tended to pay attention to the topics concerned with the mathematical competency, but it focused more on problem-solving and creativity/STEAM than other mathematical competencies. Rather, international research highlighted the topic related to equity and social justice.

• (The)Korea Educational Review
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• v.18 no.1
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• pp.283-302
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• 2012

Multicultural families have literally started to settle in Korea since the late 1980s, yet it was not until the middle of 2000 that multicultural education was actually arisen with its full-scale discussions. Domestic studies on multicultural education have now remarkably been conducted in various aspects and points of views, but with no certain level of collective and comprehensive analysis yet. To seek Korean way of finding out appropriate solutions to its multicultural society, a contemporary major trend in the world, it is necessary to keep developing the theory and practice in Korean multicultural education with constructive criticism over the development. In this thesis, the research trends and characteristics of Korea multicultural education are analyzed according to the three categories: the times of the study, the subjects of the study, and the themes of the study. The analysis of the study themes, in particular, is done based on the four core areas presented by Bennett: equity pedagogy, curriculum reform, multicultural competence, and societal equity. Furthermore, the analysis includes the five additional Korean sub-categories, which are also acquired in the process of our analysis of the thesis: multiculturalism, global multicultural education, counselling research, measurement development, and citizenship education, added to Bennett's three sub-ones of each area. Overall, based on the analysis data, this study investigates further improvements and subsequent research themes in the following researches on Korean multicultural education.

• Journal of Global Scholars of Marketing Science
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• v.20 no.1
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• pp.80-88
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• 2010

There has been considerable research examining the relationship between stockholders equity and various marketing strategies. These include studies linking stock price performance to advertising, customer service metrics, new product introductions, research and development, celebrity endorsers, brand perception, brand extensions, brand evaluation, company name changes, and sports sponsorships. Another facet of marketing investments which has received heightened scrutiny for its purported influence on stockholder equity is television advertisement embedded within specific sporting events such as the Super Bowl. Research indicates that firms which advertise in Super Bowls experience stock price gains. Given this reported relationship between advertising investment and increased shareholder value, for both general and special events, it is surprising that relatively little research attention has been paid to investigating the relationship between advertising in the Olympic Games and its subsequent impact on stockholder equity. While attention has been directed at examining the effectiveness of sponsoring the Olympic Games, much less focus has been placed on the financial soundness of advertising during the telecasts of these Games. Notable exceptions to this include Peters (2008), Pfanner (2008), Saini (2008), and Keller Fay Group (2009). This paper presents a study of Olympic advertisers who ran TV ads on NBC in the American telecasts of the 2000, 2004, and 2008 Summer Olympic Games. Five hypothesis were tested: H1: The stock prices of firms which advertised on American telecasts of the 2008, 2004 and 2000 Olympics (referred to as O-Stocks), will outperform the S&P 500 during this same period of time (i.e., the Monday before the Games through to the Friday after the Games). H2: O-Stocks will outperform the S&P 500 during the medium term, that is, for the period of the Monday before the Games through to the end of each Olympic calendar year (December 31st of 2000, 2004, and 2008 respectively). H3: O-Stocks will outperform the S&P 500 in the longer term, that is, for the period of the Monday before the Games through to the midpoint of the following years (June 30th of 2001, 2005, and 2009 respectively). H4: There will be no difference in the performance of these O-Stocks vs. the S&P 500 in the Non-Olympic time control periods (i.e. three months earlier for each of the Olympic years). H5: The annual revenue of firms which advertised on American telecasts of the 2008, 2004 and 2000 Olympics will be higher for those years than the revenue for those same firms in the years preceding those three Olympics respectively. In this study, we recorded stock prices of those companies that advertised during the Olympics for the last three Summer Olympic Games (i.e. Beijing in 2008, Athens in 2004, and Sydney in 2000). We identified these advertisers using Google searches as well as with the help of the television network (i.e., NBC) that hosted the Games. NBC held the American broadcast rights to all three Olympic Games studied. We used Internet sources to verify the parent companies of the brands that were advertised each year. Stock prices of these parent companies were found using Yahoo! Finance. Only companies that were publicly held and traded were used in the study. We identified changes in Olympic advertisers' stock prices over the four-week period that included the Monday before through the Friday after the Games. In total, there were 117 advertisers of the Games on telecasts which were broadcast in the U.S. for 2008, 2004, and 2000 Olympics. Figure 1 provides a breakdown of those advertisers, by industry sector. Results indicate the stock of the firms that advertised (O-Stocks) out-performed the S&P 500 during the period of interest and under-performed the S&P 500 during the earlier control periods. These same O-Stocks also outperformed the S&P 500 from the start of these Games through to the end of each Olympic year, and for six months beyond that. Price pressure linkage, signaling theory, high involvement viewers, and corporate activation strategies are believed to contribute to these positive results. Implications for advertisers and researchers are discussed, as are study limitations and future research directions.

• Journal of Korean Philosophical Society
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• v.141
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• pp.43-62
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• 2017

The main purpose of this paper is to survey the debates between Searle and Smith over the problem of "freestanding Y terms" in Searle's conception of social reality, and offer a viable solution, drawing on the experientialist conception of symbolic experience. Smith raises the problem of "freestanding Y term" against Searle's formula "X counts as Y in C" that there may be some cases where we cannot identify an X term to which an Y term refers. In case of an abstract concept such as equity, we may not find exactly what it stands for. That is, we cannot identify exactly what(X term) counts as equity. If there is nothing like an X for Y term, we can regard anything as equity, which may disrupt Searle's formula. Understandably, Smith does not say that the problem dismantles Searle's whole conception of social reality. Instead, Smith intends to show that Searle's formula is neither complete nor specific enough. Apparently, Searle admits that there may be freestanding Y terms and tries to articulate it within his formula, which does not seem to work. I suggest that the experientialist account of symbolic experience may serve to dissolve Smith's challenge, without modifying Searle's original formula. According to the experientialist conception of symbolization, we symbolically map some portion of our experience onto a physical object, which serves as a signifier, and we then understand and experience the signifier "in terms of" the mapped portion of experience. Thus, we experience certain buildings and some relevant people, say students, staffs, and professors in terms of "university." The status functions of university have been created by means of symbolic mappings, which change the way we understand and experience the buildings and people. In this picture, there need not be any notions such as "one-to-one correspondence" between X terms and Y terms. In this way, Searle may maintain his original formula, while dissolving, not answering, Smith's challenge. What Searle needs is a more appropriate theory of symbolization, part of which has been articulated by the experientialist account of symbolic experience.

• Korean Journal of Social Welfare
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• v.64 no.1
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• pp.53-77
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• 2012

The Easterlin Paradox is widely accepted as a pioneer of happiness study in social science disciplines including Economics, Psychology, and Sociology. Moreover, it should be noted, the paradox has abundant implications on many social issues such as 'economic growth or social equity', 'basic income' and so forth. It is in this regard that this paper purports to understand debates around the paradox. For this purpose, the chapter two examines the theoretical perspectives of the Easterlin Paradox, and accordingly the chapter three examines the Easterlin Paradox debates since the early 1990s. In the context of the Easterlin paradox debates, the chapter four scrutinizes the debates around satiation point in income-happiness nexus and duly concludes with some social welfare implications.

• Journal of Korea Game Society
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• v.11 no.4
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• pp.37-48
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• 2011

As people increasingly play online games, numerous new features have been proposed to increase players' log-on time at online gaming sites. However, few studies have investigated why people continue to play certain online games. This research would verify that enjoyment experience could be explained by the conceptual framework. In the first, this study results indicate that customers would show a higher level of loyalty if they had an optimal experience with the games. The state of flow was felt when players were aware of opportunities for personal interaction and social interaction. The personal interaction could be motivated either to achieve the high cognitive performance or by providing the equity of distribution of the objective performance in order to examine players' cognitive performance; the social interaction can be motivated either to enhance a high level of self-esteem of player or to achieve the positive reputation in order to evaluate their self-esteem. This finding can answer the questions of what enjoyment experience is and why players are repeatedly playing specific online games.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.611-620
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• 2016

Firms grow in a competitive environment and competition can be a source of corporate growth. In an increasingly global market, companies face increased competition. As such, it is natural that all firms face some degree of risk due to competition. While firms compete for market share, they also imitate competitors in order to minimize risk that accompanies competition. This research attempts to demonstrate the effects of inter-firm competition on investment decisions. Using idiosyncratic equity returns as the instrument variable, this paper uses a two-stage least squares regression, as well as an ordinary least squares (OLS), to identify the influence of peer firms' investment decisions on a firm's own investment strategy. The results confirm that firms show stronger imitative behavior with more intense competition. Also, firms with higher debt ratios show higher peer group influence. This imitative factor provides clues to measure the risk-averseness in investment decisions.

• Journal of the Korean Geographical Society
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• v.33 no.1
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• pp.57-74
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• 1998

The essay examines the development and characteristics of regionalism as new social-political conflicts in Western Europe since 1970's and explores theoretical approaches of regionalism in terms of modemization theory of social sciences. There are various types of regionalistic movements: separatism, regional equity development, federalism, autonomy, nationalism, and so on. These different orientations have already shown serious problems, theoretical and conceptional, conceming the analysis of regionalism. But in conceptualizing this phenomenon, five competitive theses could be distinguished: persistence thesis, differentiation thesis, political procedure thesis, convergence thesis, and counter-differentiation thesis. Although the heuristic theses are still elaborated on the base of empirical studies and actual data, they indicate that each thesis ontologises the region as one of the key concepts explaining regionalism very differently.