• Journal of Distribution Science
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• v.21 no.3
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• pp.93-100
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• 2023

Purpose: The purpose of this paper is to confirm whether stocks belonging to the distribution industry in Korea have reversals, following large daily stock price changes accompanied by large trading volumes. Research design, data, and methodology: We examined whether there were reversals after the event date when large-scale stock price changes appeared for the entire sample of distribution-related companies listed on the Korea Composite Stock Price Index from January 2004 to July 2022. In addition, we reviewed whether the reversals differed depending on abnormal trading volume on the event date. Using multiple regression analysis, we tested whether high trading volume had a significant effect on the cumulative rate of return after the event date. Results: Reversals were confirmed after the stock price shock in the Korean distribution industry and the return after the event date varied depending on the size of the trading volume on the event day. In addition, even after considering both company-specific and event-specific factors, the trading volume on the event day was found to have significant explanatory power on the cumulative rate of return after the event date. Conclusions: Reversals identified in this paper can be used as a useful tool for establishing a trading strategy.

• Knowledge Management Research
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• v.20 no.4
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• pp.39-55
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• 2019

Although Firms have been increasing their information security significantly to handle increased security risks, the effects of information security were not well understood. This study aims to investigate the market value of information security by employing the event study methodology. Our research also explores how market responses vary depending on the type of information security announcements. We collected 177 firm-level information security announcements between 2001 and 2017 in South Korea. For all samples, our results indicate that the stock market positively reacts to information security announcements. We also conducted subsample analysis and found that while information security certification announcement has a positive impact on the stock market, information security activities (e.g. award, information security system) announcement had no impact on the stock market. Our study adopted a novel approach (i.e. event study) for investigating the effects of information security and found that information security investment positively affects firm value. Our results allow managers to measure the effects of information security investment and help them make right decisions on information security investment.

• Korean Management Science Review
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• v.27 no.3
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• pp.161-196
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• 2010

This paper empirically investigates the impact of winning a service quality award on the market value in Korea. We estimates the mean "abnormal" change in the stock prices of sample firms when information of winning a service quality award was publicly announced. To access the validity of the research question, this paper employed collected 47 firms data that received the Korean Service Quality Awards so far. Event study methodology was used to analyze the effect of Korean service quality awards. The findings are as follows; The average abnormal returns on the event date are not significant at the 0.05 level which means that the receiving Korean Service Quality Awards has no influence on the firms' market value. On the other hand successive awarded firms have an increasing effect on the market value and it is significant at the 0.05 level. Furthermore, the results show that the factors of firm size such as firm's total assets are critical to vary the firms' abnormal returns. There might be some limitations in this study. The most obvious problem is the limitation of sample size. Although 518 sample cases were found during the period from 2000 to 2008, most of the cases were deleted according to the sample criteria. We are expecting the future research with more data and more precise results. Furthermore, our research consider the only two service award institutions even though there are several different service award authorities in Korea. It is needed to expand the research scope and range to adopt the various service award institutions for the future work.

• ETRI Journal
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• v.35 no.6
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• pp.1126-1133
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• 2013

The first spectrum auction in the Republic of Korea is attention-worthy owing to the fierce competition for the only 1.8-GHz spectrum license, the winning bidder of which was suspected of overpaying for its acquisition. This study empirically investigates the existence of a "winner's curse" in the first Korean spectrum auction by using a standard event study methodology. The results show that both the winner and loser experienced significant positive returns on the completion day of the auction. The results imply that there was no winner's curse in the auction and that the losing firm might increase its competitive advantage by acquiring other spectrum licenses despite failing to achieve its initial target spectrum. Therefore, these results suggest that regulators may need to consider bringing about positive short-term wealth benefits to all bidders by appropriately designing a spectrum auction, such as by performing multiband auctions.

• Journal of Distribution Science
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• v.10 no.7
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• pp.13-22
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• 2012

The effect of the September 2008 global financial crisis weighed heavily on stock markets around the world. The purpose of this study is to empirically investigate the impact of the crisis on Amman Stock Exchange. Event study methodology has been adopted on a period of 24 months, from January 2008 to December 2009. Monthly average abnormal returns across a sample of 52 industrial and services companies have been tested separately. The results reveal that Amman Stock Exchange experienced significant negative abnormal returns in the fourth quarter of the year 2008. However, there were no significant abnormal returns observed thereafter. This means that Amman Stock Exchange managed to overcome its adverse consequences. Since the event study tests for market efficiency, as well, the results show that Amman Stock Exchange reaction is consistent with the semi-strong form of the efficient market hypothesis.

• International Journal of Automotive Technology
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• v.6 no.1
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• pp.29-35
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• 2005

The structural integrity of either a passenger car or a light truck is one of the basic requirements for a full vehicle engineering and development program. The results of the vehicle product performance are measured in terms of ride and handling, durability, Noise/Vibration/Harshness (NVH), crashworthiness, and occupant safety. The level of performance of a vehicle directly affects the marketability, profitability and, most importantly, the future of the automobile manufacturer. In this study, the Virtual Proving Ground (VPG) approach has been developed to simulate dynamic nonlinear events as applied to automotive ride & handling. The finite element analysis technique provides a unique method to create and analyze vehicle system models, capable of including vehicle suspensions, powertrains, and body structures in a single simulation. Through the development of this methodology, event-based simulations of vehicle performance over a given three-dimensional road surface can be performed. To verify the predicted dynamic results, a single lane change test was performed. The predicted results were compared with the experimental test results, and the feasibility of the integrated CAE analysis methodology was verified.

• Journal of the Korean Society of Safety
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• v.26 no.2
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• pp.20-25
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• 2011

The fire event occurred in fire proof zone often causes serious electrical problems such as shorts, ground faults, or open circuits in nuclear power plants. These would be directed to the loss of safe shutdown capabilities performed by safety related systems and equipments. The fire event can treat the basic design principle that safety systems should keep their functions with redundancy and independency. In case of a multi-core cable fire, operators can not perform their mission properly and can misjudge the situation because of spurious operation, wrong indication or instrument. These would deteriorate the plant capabilities of safety shutdown and make disastrous conditions. In this paper, the characteristic of cable fire is investigated and the heat-flux evaluation for cable fire is studied. Moreover, a diagnostic methodology for degraded cable in nuclear power plants is presented.

• Journal of Applied Reliability
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• v.16 no.1
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• pp.71-77
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• 2016

Purpose: Root cause analysis (RCA) refers to any systematic process that identifies the causes that contribute to a focus event. The immediate cause of a focus event is often a symptom of underlying causes and may not truly identify the root causes that should be identified and addressed. Currently many RCA tools are available. Different investigators use different RCA tools on different issues. No standardized or commonly agreed way to analyse root causes exists. The purpose of this study is to propose the methodology of RCA process commonly useable for various issues. Methods: The methodology of RCA process is produced based on the hybrid RCA tools. The effectiveness assessment matrix of actions through the root cause candidates is presented. Results: No single RCA technique proposed has so far covered all necessary aspects. A hybrid approach which combines the best features of various techniques is proposed. The effectiveness assessment matrix helps us to identify the root cause to correct or eliminate system vulnerabilities effectively. Conclusion: This hybrid approach and effectiveness assessment matrix can provide guidance of RCA process across many industries and situations.

• The Journal of Information Systems
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• v.31 no.3
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• pp.153-176
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• 2022

Purpose This study aims to identify and empirically prove the factors and influence relationships that affect the intention to continue using the video conferencing solution. Design/methodology/approach This study designed a research model by integrating self-efficacy, facilitation condition, event-related fear, and social influencing factors based on the post-acceptance model of IT continuance that explained the relationship between disconfirmation, post-usage usefulness, satisfaction, and continuance intention. Findings As a result of empirical analysis, in this study, it was confirmed that positive disconfirmation and post-usage usefulness had a positive effect on satisfaction, and satisfaction had a positive effect on continuance intention. In addition, we confirmed that self-efficacy and social influence had a positive effect on continuance intention, but event-related fear and facilitating condition had no significant effect.

• Proceedings of the KSR Conference
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• 2007.05a
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• pp.605-613
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• 2007

In order to overcome the difficulties of quantitative risk analysis such as complexity of model, we propose a systematic methodology for risk quantification of railway system which consists of 6 steps: The identification of risk factors, the determination of major scenarios for each risk factor by using event tree, the development of supplementary fault trees for evaluating branch probabilities, the evaluation of event probabilities, the quantification of risk, and the analysis in consideration of accident situation. In this study, in order to address the feasibility of the propose methodology, this framework is applied to the prototype risk model of nation-wide railway level crossings. And the quantification result based on the data of 2005 in Korea will also be presented.