• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.119-135
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• 2018

Currently, Korean firms are making a lot of effort to invest in research and development (R&D) by spending a lot of development costs in order to cope with the 4th industrial revolution. On the other hand, the capital market of Korea, which is the main source of funding, has caused a lot of cost of capital for firms by its reorganization mainly with safe assets in the experience of foreign exchange crisis at the end of 1997, the sub-prime mortgage crisis in 2007 and the bankruptcy of Lehman Brothers in September 2008. Thus, this study empirically analyzed the effect of development expenses on credit rating and firm value. The credit rating was measured by commercial paper(CP) credit rating which is sensitive for investors in terms of risk because it is issued only by the credit of the firms. Firm value was defined as Tobin's Q, which has been widely used in prior studies. The results of the analysis are summarized as follows; Firstly, development expenses did not affect credit rating. Development expenses are recognized as intangible assets for uncertainty of economic benefits and long-term investment. Thus, it seems that there is no effect of development expenses on CP credit rating as CP credit rating is evaluated by short-term credit rating.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.953-965
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• 2021

This study aims to analyze the benefits of corporate social responsibility (CSR) performance on corporate risk in controversial and non-controversial industries. The hypothesis of this study is based on the conflicting effects of industry type on CSR and firm risk. The research sample consisted of 927 companies listed on the Indonesia Stock Exchange from 2016 to 2019. The main method for data processing was the ordinary least square method and subgroup analysis as a robustness test. The findings suggest that the performance of CSR can reduce corporate risk. However, the impact was only significant for non-controversial firms and weakened for controversial industries. These results support risk management and signaling theory. Firm risk in this study reflects the company's total risk, further research can categorize it into systematic and idiosyncratic risk. Besides, the number of samples of controversial industry research is not as much as non-controversial; further research can use paired samples. Regulators can use the results to create a new policy regarding CSR implementation. This study contributes to the existing literature by showing that the ability of social responsibility to reduce corporate risk only works in non-controversial industries. This result may be due to the controversial industry receiving negative stigma from its stakeholders.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.123-138
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• 2022

Purpose - This study compares the performances of dynamic asset allocation strategies using Korean stocks and U.S. dollar, which have been negatively correlated for a long time, to examine the diversification effects in the portfolios of them. Design/methodology/approach - In the current study, we use KOSPI200 index, as a proxy of the aggregated portfolio of Korean stocks, and USDKRW foreign exchange rate to implement various portfolio management strategies. We consider the equally-weighted, risk-parity, minimum variance, most diversified, and growth optimal portfolios for comparison. Findings - We first find the enhancement of risk adjusted returns due to risk reduction rather than return increasement for all the portfolios of consideration. Second, the enhancement is more pronounced for the trading strategies using correlations as well as volatilities compared to those using volatilities only. Third, the diversification effect has become stronger after the global financial crisis in 2008. Lastly, we find that the performance of the growth optimal portfolio can be improved by utilizing the well-known momentum phenomenon in stock markets to select the length of the sample period to estimate the expected return. Research implications or Originality - This study shows the potential benefits of adding the U.S. dollar to the portfolios of Korean stocks. The current study is the first to investigate the portfolio of Korean stocks and U.S. dollar from investment perspective.

• International Journal of Computer Science & Network Security
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• v.23 no.6
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• pp.91-98
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• 2023

The rapid increase in the use of new technology known as 'blockchain technologies' has addressed many challenges in different areas and provided benefits to users, in this paper we discuss the field of supply chains, improve confidence and transparency between participants and stakeholders significantly also in this paper we Compare between different blockchain frameworks focusing on most popular frameworks. Moreover, we proposed a model in the supply chain using a blockchain framework, the proposed supply chain model included many different resources that help to exchange information over the network. The proposed model also includes smart contracts that maintain all rules for transactions. using blockchain technology information such as transaction details, time and money are recorded and stored within the system from the beginning of the transaction entry.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.454-458
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• 2015

A number of practices for sharing knowledge has been recommended in the literature. These practices, however, are considered to be applicable, universally. This assumption is challenged by this paper which empirically explores the relationship between national culture and knowledge sharing practices in the context of procuring educational buildings in Saudi Arabia. The paper reports on a research study with the aim to identify whether national culture dimensions could be significant variables that impact upon staff preferences in relation to project knowledge sharing practices. The paper critically reviews the literature to identify appropriate measures for knowledge sharing practices. It explores the means by which public sectors professional exchange project knowledge; evaluates policies and level of technical support needed to facilitate knowledge sharing, then proceeds to how employees perceive the benefits they will gain by practicing project knowledge sharing, and their role in this process. The paper tests the relationships among the research constructs based on data collected from 115 project managers responsible for the procurement of educational buildings in Saudi Arabia. The paper provides empirical evidence that the national culture has a significant influence on staff preferences. In light of the research findings the paper concludes with practical recommendations for project knowledge sharing practices that are in line with staff preferences and their cultural orientation. The recommendations should facilitate a more effective application of knowledge sharing practices.

• Asia pacific journal of information systems
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• v.33 no.4
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• pp.1016-1035
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• 2023

Corporate tax avoidance has been the subject of international debate since the Enron scandal and has raised awareness of the need for greater transparency in financial markets. Efforts have been made to strengthen financial reporting requirements and meet the needs of investors and other stakeholders, including digitalization of financial reporting through Extensible Business Reporting Language (XBRL). This study examines the impact of the mandatory adoption of XBRL on corporate tax avoidance. We tested our predictions using a panel dataset of Indonesian firms listed on the IDX stock exchange. Based on available information in the DATASTREAM database covering the 2013-2017 period, we used two proxies for tax avoidance i.e., GAAP effective tax rate and current effective tax rate. We estimated multiple regression model including industry and year fixed effects. The results show that XBRL implementation has reduced corporate tax avoidance. These findings suggest that improving corporate transparency through XBRL could play a deterrent tool to corporate tax avoidance. The results of this study should be useful to tax authorities and accounting standard setters supporting the benefits of digitalizing financial reporting and continuing to complete XBRL taxonomies around the world.

• Journal of Information Technology Applications and Management
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• v.30 no.4
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• pp.39-64
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• 2023

The recent expansion of large cities for economic benefits has worsened cultural inequalities within urban areas, eroding unique cultural identities and social values and deepening mistrust between regions. To tackle this, the idea of creating cultural cities is gaining traction, involving urban branding and cultural elements to foster balanced local cultural development. Current research primarily concentrates on case analysis in cultural cities, lacking sufficient studies examining the interplay of factors through empirical analysis, This study investigated whether Cultural City Formation Factors, which are resources of a cultural city, have a positive effect on City Brand Equity, City Innovativeness, Brand Personality, and Behavior Intention. For this study, questionnaires were collected from 310 people who continuously experience culture and arts in Seoul, and empirical analysis was conducted on 292 copies of them. Consequently, a significant impact was observed among the factors influencing cultural city formation, city brand equity, city innovativeness, brand personality, and behavioral intention. Moreover, it was verified that city brand equity, city innovativeness, and brand personality positively contributed to mediating effects as well as sequential mediating effects. It is expected that the results of this study will be used to establish the foundation for effective urban management and the development of strategies for creating cultural cities.

• The Korean Journal of Food & Health Convergence
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• v.10 no.3
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• pp.19-22
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• 2024

The field of synthetic biology has emerged in response to the ongoing progress in the life sciences. Advances have been made in medicine, farming, eating, making materials, and more. Synthetic biology is the exploration of using living organisms to create new organisms. By manipulating specific genes to express targeted proteins, proteins can be created that are both productive and cost-effective. Solid-phase extraction (SPE) and liquid-liquid extraction (LLE) are employed for protein separation during the production process involving microorganisms. This study centers on Scanning Probe Microscopy (SPM) to showcase its utility in the food industry and food management. SPE is predominantly utilized as a pretreatment method to eliminate impurities from samples. In comparison to LLE, this method presents benefits such as decreased time and labor requirements, streamlined solvent extraction, automation capabilities, and compatibility with various other analytical instruments. Anion exchange chromatography (AEC) utilizes a similar methodology. Pharmaceutical companies utilize these technologies to improve the purity of biopharmaceuticals, thereby guaranteeing their quality. Used in the food and beverage industry to test chemical properties of raw materials and finished products. This exemplifies the potential of these technologies to enhance industrial development and broaden the scope of applications in synthetic biology.

• Asia pacific journal of information systems
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• v.29 no.3
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• pp.328-358
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• 2019

Business-to-Business electronic commerce websites are a common form of inter-organizational systems that span organizational boundaries and enables organizations to exchange information in a seamless fashion. To reap the desired benefits it is important that the website be used in the intended manner. The level and extent of use of a business-to-business website depends partly on the inclination to use the website by the users in the primary organization and in the user organizations independently and the combined inclination of the organizations together. This combined inclination is referred to as the System Inclination, with dominance playing a key role. Each organization has certain characteristics of its own and may differ significantly in their inclination to use. It is important to analyze the factors that determine this inclination to use, so that organizations can adopt appropriate management mechanisms to control it. This paper proposes a framework to explain the organizational factors and their influence on the inclination to use a website, based on study of four Indian buyer-supplier dyads. Inclination to use is found to be influenced by factors like top management support, website characteristics, adequate support mechanisms, user group orientation towards electronic commerce and basic IT drive among the employees, at both the primary and user organizations.

• The Journal of Small Business Innovation
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• v.19 no.3
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• pp.17-42
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• 2016

Financial Accounting Standards Board (FASB) Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes: An interpretation of FASB Statement No. 109, requires firms to evaluate uncertain tax positions and disclose information on their liabilities for these positions, unrecognized tax benefits (UTBs). We analyze the FIN 48 disclosures for calendar-year-end Korean companies listed on NYSE and NASDAQ and examine the Korean firms' tax aggressiveness utilizing the UTBs. The results suggest that stock exchange and firm size do not play a role in the Korean firms' tax aggressiveness, contrary to the matched U.S. firms and that the Korean firm in the miscellaneous retail industry is more tax aggressive than the firms in the communications, depository institutions and business services. In addition, we find evidence that the Korean firms are less tax aggressive than the matched U.S. firms. We also examine the Korean firms' tax avoidance tendencies using other measures of avoidance, leading to mixed results. Finally, we examine the association between the UTBs and other measures of tax avoidance and find a significant and negative association between the UTBs and the long-run cash effective tax rate.