• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.1-32
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• 2008

This study examines the changes and determinants of cash to assets ratios(cash ratios) by analyzing 14,016 Korean manufacturing firms sample for the period of $1999{\sim}2004$. The major findings can be summarized as follows. First, the average cash ratios for Korean manufacturing firms have increased from 4.7 percent of 1999 to 5.2 percent of 2004. In addition, the average cash holdings per firm also have increased from 4.3 billion Won to 8.0 billion Won during the same period. However, the capital expenditures relative to cash ratios or operating cash flow have decreased significantly, confirming the notion that physical investment of Korean manufacturing sector has been shrinking recently. Second, in regression tests with panel data, the coefficients of target adjustment variables show the expected negative signs, but coefficients of the deficit of fund variables show the unexpected positive signs. Thus, the evidence seems to be supportive of static tradeoff model of cash holdings. Third, in regression tests to find the determinants of cash ratios, most of the variables show similar results as the previous studies. However, in terms of adjusted coefficient of determination and F-statistic, the firm-characteristic variables suggested by static trade-off theory have more explanatory power than the variables suggested by pecking order theory.

• Proceedings of the Korea Database Society Conference
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• 1999.10a
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• pp.191-201
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• 1999

데이터 웨어하우스와 데이터 품질에 관한 문헌연구를 통하여 데이터 웨어하우스 환경에서 데이터 품질의 향상을 위한 개념적 프레임워크를 개발하고자 하는 것이 본 연구의 목적이다. 데이터 웨어하우스 데이터 품질향상 활동을 지원하는 프레임워크를 개발하는 목적은 (1) 다양한 요구를 가진 사용자들이 웨어하우스 데이터에 접근하기 때문에, 사용자의 요구를 만족시키며 기업의 목적에 적합한 품질향상 활동을 지원하기 위해서이며, 다양한 기업활동을 가장 잘 지원할 수 있는 데이터 품질향상 지침을 관리자에게 제공하기 위해서 이다. (2) 웨어하우스 관리자의 데이터 품질향상 활동을 지원하기 위해서는 품질차원이나 데이터세트 등과같은 품질향상에 필요한 다양한 이슈를 관리자가 인식할 수 있도록 하기 위해서이다. (3) 데이터 웨어하우스 환경에서 데이터 품질 향상에 필요한 체계적이고 포괄적인 안목을 제공하기 위해서이다. 본 연구는 다음과 같은 단계로 수행하게 된다. 첫째, 데이터 웨어하우스의 개념과 데이터 웨어하우스의 구축단계 및 데이터 웨어하우스를 구성하는 프레임워크를 검토한다. 둘째, 데이터 웨어하우스 환경에서의 데이터 품질의 기준과 데이터 품질의 측정 및 데이터 품질의 향상 방안 등을 고찰한다. 셋째, 데이터 웨어하우스 환경에서 데이터 품질의 향상을 위한 개념적 프레임워크를 개발하기 위하여 데이터 웨어하우스 데이터 풀질 향상과 관련된 기업활동, 데이터 세트, 품질의 속성 및 차원 등을 정의한다. 마지막으로 데이터 웨어하우스 환경하에서 데이터 품질을 향상할 수 있는 3차원 구조의 개념적 프레임워크를 제안하며, 나아가 제안한 모형에 대하여 데이터 품질 향상을 위한 프로젝트 활동의 사례를 통하여 모형의 타당성을 개념적으로 설명한다.통하여 각각의 제품을 비교하였으며, 둘째 소프트웨어 종류별 평가로 제품을 응용소프트웨어, 응용개발도구, 시스템 소프트웨어로 분류하여 평균값으로 비교하였다. 셋째, 국내외 제품별 평가분석으로 전체 제품을 국내제품과 국외제품으로 분류하여 비교하였으며, 마지막으로 총괄분석을 통해 가중치를 적용하여 전 제품의 점수를 비교하였다. 여기에서는 각 제품의 평균점수에 대한 차이를 95%의 유의수준으로 T-Test를 실시하였다.uted to the society, and what the socioeconomic impacts are resulted from the program. It would be useful for the means of (ⅰ) fulfillment of public accountability to legitimate the program and to reveal the expenditure of pubic fund, and (ⅱ) managemental and strategical learning to give information necessary to improve the making. program and policy decision making, The objectives of the study are to develop the methodology of modeling the socioeconomic evaluation, and build up the practical socioeconomic evaluation model of the HAN projects including scientific and technological effects. Since the HAN projects cons

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.9
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• pp.669-679
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• 2016

Architectural firms that would like to adopt the BIM are currently in an unfavorable position because of reduced orders, polarization of orders, and low price design. This study was conducted to evaluate plausible methods for supporting introduction of BIM into small sized firms. Before suggesting plans for support, we analyzed support projects and laws relating to support for small sized firms, after which we conducted a survey of small sized firms that support the project. The survey was completed by 242 architects and consisted of questions regarding the following aspects: current status and problems associated with BIM utilization, preference of certain policies for BIM introduction support, and reasonable level of support. After the survey, it was concluded that architectural firms are willing to use BIM and agree with the need for financial support for BIM program purchase and education, as well as to support BIM experts and fund low interest loans. In conclusion, it is proposed that support plans for small sized architectural firms in the areas of BIM introduction consulting, financial funding for the introductory process, provision of education and experts, order support, and promotions for accomplishment be provided.

• The Korean Journal of Archival Studies
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• no.3
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• pp.33-64
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• 2001

This essay introduces the basic method and program required to meet some necessary conditions of building university archives. By the phrase 'method and program', I intend the effective means of regularly but circumstantially controling the ways to the archival purposes proper which can be defined as the keeping of evidences and the broadening of information pool in terms of the evidential and informational natures or values of records. My starting point is about the matters of overcoming a standard method of induction which has long prescribed much passive procedures in the archival work. Considering the differences in the records and archives management-practices between West and Korea, I tentatively try to add some active elements to the archival work among which the collection for the expanding evidences and informations may firstly emphasized. While this collecting activity normally depends on the existing 'collections' and 'manuscripts', I cannot exclude the possibility of collections the materials, being likely to be registered in any poor or insufficient record groups. In the similar context, this kind of activity may and must be expanded beyond the university boundaries so at to arrange the cornerstones of archive-based local studies in the various disciplines. Here I premise another role of university archives, the role as 'science archives'. These archives within university archives seem likely to function in likewise the special collections within Western university libraries. What I mean here, however, is the archival groups purposedly gathered or acquisited according to more detail and narrower plan in order to meet the various demands from the different disciplines for the primary sources. The archival procedures from this revised method and program may, I hope, satisfy some of the preconditions of building university archives before the archives will actually function as a sub-institution of an university preserving legal, administrative and financial evidences, thus keeping identity and continuity of the university on the one hand, and as a local information center of supplying the archival contents on effectual demand from the field of local studies on the other. Finally, I conclude with a suggestion concerning the cooperation of all the parties of archival works. Proposing the 'Regional Research Center Program' in the field of technology and engineering as a model for the cooperation, I suggest that universities, private/public organizations, and central and local governments may work together for surveying the scattered ancient and modern documents as well as for building archives under the matching fund.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.5
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• pp.25-32
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• 2019

The purpose of this study is to investigate how to make a proper investment in ICO in the market. Previously, companies used to borrow money from banks or to obtain investments from venture capital (VC) and angel investors, but now ICOs are used as a new type of funding and financing model. The ICO sells the tokens or coins created on the blockchain openly online to raise the necessary funds, and provides the market value by paying the tokens or coins as much as the investment amount. According to this study, the limitations of the ICO market are (1) difficulties in evaluating the company, (2) uncertainties in investments, (3) lack of legal safeguards, and (4) measures to secure corporate stability after recruitment. At present, there is no way to cope with this systematically since the ICO is not protected in the legal framework. Nevertheless, we investigated the ways to make proper investment in the existing ICO market. In investing in ICO, investors should (1) consider investment methods and profitability, and (2) verify and judge investment fraud through various channels (ex. Homepage, composition team profile, etc.) and make investments based on this. This study will contribute to the formation of a healthy ICO market by understanding the newly emerged ICO market and studying the considerations when investing in it, thereby contributing to the right investor training and reducing the mass production of consumer damages caused by fraud. The limitation of this study is that the domestic ICO has not yet been examined in the legal framework, so further research is needed when policy changes occur in the future.

• The Journal of Bigdata
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• v.6 no.2
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• pp.1-15
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• 2021

The unprecedented pandemic of infectious diseases called COVID-19 has dampened human and material movement, and changes in the global economic structure have caused various economic and industrial problems such as worsening employment along with the domestic and international economic recession. In this crisis situation, the government announced the "New Deal" as a new card to enhance economic vitality following the "emergency disaster support fund." This means that the first business of the Digital New Deal, the beginning and core of the New Deal, begins digital transformation from collecting data, which is the "rice" of digital transformation to the data dam. Until now, not only the government but also local governments have established and operated platforms for collecting and sharing public data by establishing various data portals. It is evaluated that it lacks utilization for commercialization as not only the government but also local governments focus only on building the platform without considering the business model when building the initial public data platforms. In particular, in the case of regions, there is a lack of public data to be used for data business, so it is necessary to utilize data from public institutions in the region. In this study, various data collection, data quality improvement, and data utilization improvement were suggested as measures to solve these problems.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.147-165
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• 1992

This paper analyzes the macroeconomic effects of elections on the Korean economy and their future ramifications. It measures the shocks to the Korean economy caused by elections by taking the average of sample forecast errors from four major elections held in the 1980s. The seven variables' Bayesian Vector Autoregression Model which includes the Monetary Base, Industrial Production, Consumption, Consumer Price, Exports, and Investment is based on the quarterly time series data starting from 1970 and is updated every quarter before forecasts are made for the next quarter. Because of this updating of coefficients, which reflects in part the rapid structural changes of the Korean economy, this study can capture the shock effect of elections, which is not possible when using election dummies with a fixed coefficient model. In past elections, especially the elections held in the 1980s, $M_2$ did not show any particular movement, but the currency and base money increased during the quarter of the election was held and the increment was partly recalled in the next quarter. The liquidity of interest rates as measured by corporate bond yields fell during the quarter the election and then rose in the following quarter, which is somewhat contrary to the general concern that interest rates will increase during election periods. Manufacturing employment fell in the quarter of the election because workers turned into campaigners. This decline in employment combined with voting holiday produce a sizeable decline in industrial production during the quarter in which elections are held, but production catches up in the next quarter and sometimes more than offsets the disruption caused during the election quarter. The major shocks to price occur in the previous quarter, reflecting the expectational effect and the relaxation of government price control before the election when we simulate the impulse responses of the VAR model, imposing the same shocks that was measured in the past elections for each election to be held in 1992 and assuming that the elections in 1992 will affect the economy in the same manner as in the 1980s elections, 1992 is expected to see a sizeable increase in monetary base due to election and prices increase pressure will be amplified substantially. On the other hand, the consumption increase due to election is expected to be relatively small and the production will not decrease. Despite increased liquidity, a large portion of liquidity in circulation being used as election funds will distort the flow of funds and aggravate the fund shortage causing investments in plant and equipment and construction activities to stagnate. These effects will be greatly amplified if elections for the head of local government are going to be held this year. If mayoral and gubernatorial elections are held after National Assembly elections, their effect on prices and investment will be approximately double what they normally will have been have only congressional and presidential elections been held. Even when mayoral and gubernatorial elections are held at the same time as congressional elections, the elections of local government heads are shown to add substantial effects to the economy for the year. The above results are based on the assumption that this year's elections will shock the economy in the same manner as in past elections. However, elections in consecutive quarters do not give the economy a chance to pause and recuperate from past elections. This year's elections may have greater effects on prices and production than shown in the model's simulations because campaigners' return to industry may be delayed. Therefore, we may not see a rapid recall of money after elections. In view of the surge in the monetary base and price escalation in the periods before and after elections, economic management in 1992 should place its first priority on controlling the monetary aggregate, in particular, stabilizing the growth of the monetary base.

• Journal of Korea Technology Innovation Society
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• v.12 no.4
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• pp.687-714
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• 2009

In this paper, we study empirically the relations between financial constraints and dividend adjustment speed of innovative small and medium sized enterprises (SMEs) listed on Kosdaq Market of Korea Exchange. The main results of this study can be summarized as follows. Determinants suggested by the major theories of dividends, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend payout policy of Kosdaq SMEs. Lintner's dividend adjustment model indicates that Kosdaq SMEs have long run target payout ratio, and that Kosdaq SMEs adjust partially the gap between actual and target payout ratio each year. In the core variables of Lintner (1956) dividend adjustment model, past DPS has more effect than current EPS. These results suggest that Kosdaq SMEs maintain stable dividend policy which maintain past DPS level without corporate special reasons. Dividend adjustment speed of innovative Kosdaq SMEs is more fast than that of uninnovative Kosdaq SMEs, and dividend adjustment speed of financial unconstrained innovative Kosdaq SMEs is faster than that of financial constrained innovative Kosdaq SMEs. Futhermore, dividend adjustment speed of innovative Kosdaq SMEs classified by Small and Medium Business Administration is faster than that of unclassified innovative Kosdaq SMEs. The former is linked with financial policies and services like credit guaranteed service, venture investment fund, insurance program, and so on. In conclusion, past DPS and current EPS suggested by the Lintner's dividend adjustment model explain mainly dividend adjustment speed, and financial constraints explain also partially. Therefore, if managers of innovative Kosdaq SMEs can properly understand of the effects of financial constraints on dividend smoothing, they can maintain constantly dividend policy. This is encouraging result for Korea government as it has implemented many policies to commit to innovative Kosdaq SMEs.

• Journal of the Korean Institute of Landscape Architecture
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• v.40 no.2
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• pp.24-37
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• 2012

In this study, Community Garden of various national and international practices trends to an advanced research, the concept of community garden participated with a group operation out of initiative to produce safety food while securing space for the community, ensuring the area that has gone through a new form of active secure urban green space plan, urban renewal movement was defined as the mean. Furthermore, for the purpose of improving the poor welfare environment by attempting to experimentally make a community garden of a disabled welfare house rooftop and how to target its planning and construction process, partnership involvement, business processes have been investigated, such as cost sharing. The whole process including a budget for development of this case was conducted by the Busan Green Trust. Standard Chartered (SC) First Bank's 50% fund share by community chest, participation of volunteers, support of Busan City and Saba-gu, outside of that, sharing parts or trial to participate by diverse partnership of enterprise, public corporation and laboratory, these are the key in developing community garden's model. Established community garden places resulted food production to users of welfare center for the disabled, participating urban agricultural experience program, horticultural therapy, complex community chapter and cultural center. Furthermore, we could find the meaning of rooftop community garden in the point that it is a low cost garden by applying movable and unmovable planters. This study is profitable for improving urban environment, ensuring community chapter and urban green areas, regenerating a city to develop experimental community garden model by using a welfare house rooftop.

• Journal for History of Mathematics
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• v.22 no.2
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• pp.27-52
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• 2009

This article discusses the contributions of the leader Oswald Veblen, who was the president of AMS during 1923-1924. In 2006, Korea ranked 12th in SCIE publications in mathematics, more than doubling its publications in less than 10 years, a successful model for a country with relatively short history of modern mathematical research. Now there are 192 four-year universities in Korea. Some 42 of these universities have Ph.D. granting graduate programs in mathematics and/or mathematical education in Korea. Rapid growth is observed over a broad spectrum including a phenomenal performance surge in International Mathematical Olympiad. Western mathematics was first introduced in Korea in the 17th century, but real significant mathematical contributions by Korean mathematicians in modern mathematics were not much known yet to the world. Surprisingly there is no Korean mathematician who could be found in MaC Tutor History Birthplace Map. We are at the time, to have a clear vision and leadership for the 21st century. Even with the above achievement, Korean mathematical community has had obstacles in funding. Many people thinks that mathematical research can be done without funding rather unlike other science subjects, even though they agree fundamental mathematical research is very important. We found that the experience of early American mathematical community can help us to give a vision and role model for Korean mathematical community. When we read the AMS Notice article 'The Vision, Insight, and Influence of Oswald Veblen' by Steve Batterson, it answers many of our questions on the development of American mathematics in early 20th century. We would like to share the story and analyze its meaning for the development of Korean Mathematics of 21st century.