• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.109-141
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• 2006

The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

• Journal of the Institute of Convergence Signal Processing
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• v.2 no.3
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• pp.73-78
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• 2001

BP neural network model and multiple-regression model were composed for forecasting the special-days load. Special-days load was forecasted using that neural network model made use of pattern conversion ratio and multiple-regression made use of weekday-change ratio. This methods identified the suitable as that special-days load of short and long term was forecasted with the weekly average percentage error of 1∼2[%] in the weekly peak load forecasting model using pattern conversion ratio. But this methods were hard with special-days load forecasting of summertime. therefore it was forecasted with the multiple-regression models. This models were used to the weekday-change ratio, and the temperature-humidity and discomfort-index as explanatory variable. This methods identified the suitable as that compared forecasting result of weekday load with forecasting result of special-days load because months average percentage error was alike. And, the fit of the presented forecast models using statistical tests had been proved. Big difficult problem of peak load forecasting had been solved that because identified the fit of the methods of special-days load forecasting in the paper presented.

• The Korean Journal of Applied Statistics
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• v.22 no.2
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• pp.297-307
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• 2009

Korean household debt is one of the main sources of the current financial crisis. This paper studies the impact of household members' attributes such as a type of housing(self-own or rent), education, age, average monthly income of the head of household, and the area of residence, on the stress level of the household members due to household debt. We analyze a real data set collected by KB Kookmin Bank in 2004. We consider low and high stress level as a binary response variable and use a logistic regression model with the attributes of household members as explanatory variables. A simple but well-fitting model is selected by backward elimination method based on the likelihood statistic for goodness-of-fit test, and the impact of the attributes on the stress level is studied from parameter estimates of the selected model. We also perform the similar analysis on a binary response variable which distinguishes households with no debt from the rest. From the analysis, the stress level tends to be low for households with self-own houses, high average monthly income, low education level, and young members.

• Journal of Digital Convergence
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• v.11 no.2
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• pp.101-114
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• 2013

This paper investigates whether the announcement effect of seasoned equity offering is affected by management performance. We used Korean stock market data from 2000 to 2007 to analyze the possible relation between net income and seasoned equity offerings announcement effect. The sample of 308 firms are selected for the study from the original population of 750 seasoned equity offering announcements. and We analysis this article through event studty of Brown and J.Warner. We divide the data into two groups. - the previous offerings year's positive net income group and negative income group. Both positive and negative net income samples affect stock price positively. However, the CAR for the negative net income offerings becomes zero around 25days after the announcement date. To analyze the impact of accounting income on the seasoned equity offering announcement effects fully, we introduce a cross-sectional regression analysis by setting the cumulative abnormal returns as a dependant variable and net income as an explanatory variable. The beta coefficient of the net income shows a statistical significance. These results can be considered as an evidence to support our hypothesis.

• Journal of Korean Academy of Nursing Administration
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• v.8 no.4
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• pp.551-561
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• 2002

Purpose : The purpose of the present study was to examine the causal relationships among head nurses' leadership (consideration oriented leadership, structure initiated leadership), nursing unit culture (human development culture, task development culture), and nurses' organizational commitment. Method : Four large general hospitals located in and around Seoul were selected to participate. The total sample of 286 registered nurses represents a response rate of 90 percent. Data for this study was collected from August to September in 2000 by questionnaire. Path analyses with LISREL program were used to test the fit of the proposed model to the data and to examine the causal relationships among variables. Result : Both the proposed model and the modified model fit the data adequately. The model revealed relatively high explanatory power. 52% of human development culture was explained by predicted variables and 44% of task development was explained by predicted variables; 47% of the organizational commitment was explained by predicted variables. In predicting developmental (both human and task) nursing unit culture, the findings of this study clearly demonstrated that head nurses' consideration oriented leadership might be the most important variable. The result also showed that head nurses' consideration oriented leadership might be the most important variable among the predicted variables in predicting organizational commitment. Conclusion : Based on the findings of this study, it was suggested that various studies, for example, matching leadership and nursing unit culture, were needed.

• Korean Management Science Review
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• v.22 no.1
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• pp.103-125
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• 2005

Korean government is planning to adopt double entry bookkeeping with accrual basis in the government accounting system. This paper attempts to identify influencing attitudes of information producers toward the acceptance of the new service system. Several models are introduced, including Luder's Contingency Model, Cheng's Politico-Economic Model of Accounting Policy Choice, Roger's Diffusion of innovation, and Davis's Technology Acceptance Model(TAM). A set of constructs are developed as fellows : information producers' knowledges, experiences, altitudes toward the reform, characteristics of cash based accounting system and new accrual based system, a chief executive officer's willingness to support, availability of supporting systems, and social Influences from external environment. This study also incudes hey factors used in TAM, such as perceived usefulness and ease of use. Survey responses are gathered from accounting officers in government ministries and agencies as well as from local governments. Regression analysis shows that, for information producers, both 'perceived ease of use' and 'perceived usefulness' of the new system are the best explanatory variable for the dependent variable. It has also found that 'perceived usefulness' is explained best by individual characteristics such as knowledge and experiences, quality of current cash based s1n91e entry bookkeeping system, chief executive's support, Positive supporting systems and social influences. The useful guidelines for implementing double-entry bookkeeping system with accrual basis are also provided.

• The Journal of the Korea Contents Association
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• v.18 no.8
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• pp.494-502
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• 2018

The main objectives of this study are to examine the effects of stress on the experience of doing harm of the children and adolescents and to examine the moderating effect of human rights consciousness on the relationship between the stress and the experience of doing harm. To do this, we analyzed the data obtained from Survey on Human Rights of Children and Adolescents in 2015. The subject is 10,424 from the 4th grade of elementary school to the 3th grade of high school. To investigate the moderating effects of variable, we have conducted a hierarchical regression analysis and confirmed changes in explanatory power. As a result of that, first, it suggests that stress and human rights consciousness have direct effects on the experience of doing harm. This results show that the lower stress and the higher human rights consciousness is, the lower experience of doing harm is. Second, it was found that human rights consciousness is moderating variable on the relationship of between the stress and the experience of doing harm. Based on this results, this study has proposed the implications and limitations of it and suggestions for further study.

• Journal of Korean Academy of Nursing Administration
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• v.17 no.4
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• pp.391-401
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• 2011

Purpose: The purpose of this study was to explore the effect of empowerment on nursing performance, job satisfaction, organizational commitment and turnover intention in hospital nurses. Method: The subjects were 345 nurses at a general hospital in D city. Data were collected by structured questionnaire from January 10 to February 15, 2009. Data were analyzed by using descriptive statistics, ANOVA, Scheffe's test, and Pearson correlation coefficient, multiple regression by SPSS win 17.0 program. Results: The mean scores were 3.60(${\pm}.43$) of empowerment, 3.80(${\pm}.38$) of nursing performance, 3.49(${\pm}.55$) of job satisfaction, 4.70(${\pm}.74$) of organizational commitment, and 2.34(${\pm}.84$) of turnover intention. Empowerment was correlated with nursing performance, job satisfaction, and organizational commitment positively, but correlated with turnover intention negatively. As a result of multiple regression, empowerment has 34.3% of the explanatory power on nursing performance, 24.0% on job satisfaction, 30.7% on organizational commitment, and 15.6% on turnover intention. Conclusion: Empowerment was a critical variable affecting nursing job performance, job satisfaction, organizational commitment, and turnover. Also, if various variable - active and adequate child-care support system, provided conditions continue to study, and adequate and appropriate compensation for nursing performance - affecting empowerment are managed, nurses' empowerment level will rise at the same time.

• Korea Journal of Hospital Management
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• v.20 no.4
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• pp.31-49
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• 2015

The purpose of this study is to propose an effective leadership in the hospital management by analyzing the relationship of the effect of the specialty hospital CEO's leadership on the employees' organizational effectiveness as well as the customer orientation, and the mediation effects of the organizational effectiveness on the relation between hospital CEO's leadership and the customer orientation. The questionnaires of the survey targeting the 99 specialty hospitals were collected that 786 copies of them were utilized in analysis. The major outcomes of the research can be summarized as follows. Firstly, transformational leadership of specialty hospital CEO generally has the greater impact on the employees' job satisfaction, organizational commitment and turnover intention than his transactional leadership. Secondly, the most important sub-variable of specialty hospital CEO leadership affecting the organizational effectiveness of the employees are charisma of transformational leadership and contingent reward of transactional leadership. Thirdly, the sub-variable of specialty hospital CEO leadership which has the greatest impact on customer orientation of employees is the active management-by-exception of transactional leadership. Fourthly, the sub-variables in the organizational effectiveness such as job satisfaction, organizational commitment and the turnover intention of hospital employees play mostly the partial mediation role between the customer orientation of employees and the leadership of a specialty hospital CEO. This means that the more the organizational effectiveness of specialty hospital employees improves, the more the customer orientation does. Thus, specialty hospital CEOs need to pay attention to the sub-variables in organizational effectiveness so as to improve the customer orientation of the employees. To explore further the nature of the effect of hospital leadership in the future, apart form the variables of the organization effectiveness used in this study to improve the customer orientation of employees through the leadership of the specialty hospital CEO, the research to identify other factors which have greater influence and explanatory power will be needed.

• Korean Journal of Health Education and Promotion
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• v.33 no.1
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• pp.13-22
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• 2016

Objectives: By using six years of KNHANES dataset (2008~2013) about 60 ages older people, we analyzed how the depression prevalence rate in the elderly is influenced by disease and activity limit. Especially, to add a sense of more reality, we adopted stress experience as a control variable to see how the depression prevalence rate in the elderly is influenced by disease and activity limit depending on the stress experience. Methods : We adopted six years of KNHANES dataset, indicating that our results were based on long period of time capable of considering temporal patterns in the depression prevalence rate in the elderly. Total 1,160 elderly people in KNHANES were selected for our empirical analyses. Dependent variable is either 0 or 1 depending on whether the elderly people feel depression. Main explanatory variables for our study include disease and activity limit. Logistic regression analysis was applied for two group such as stress experience and non-experience. Results : According to the empirical results, stress factor is found to be significant in explaining the depression in the elderly. Depression prevalence rate increased when the elderly has stress experience: chronical disease(OR=1.650), chronical disease with activity limit(OR=3.388), non-chronical disease with stress(OR=11.841) chronical disease with stress (OR=13.561) and chronical disease with activity limit and stress(OR=28.691). Conclusions: The finding suggest that the Countermeasures of elderly's depression alleviation should include stress management.