• Journal of Distribution Science
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• v.13 no.5
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• pp.83-90
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• 2015

Purpose - This research aims to understand the different behaviors of consumers according to cognitive age. Specifically, this research is focused on pro-social behavior. Pro-social behavior is defined as behavior benefiting others, rather than behavior benefiting one's self. It often entails individual risk or cost, such as when giving resources to others, waiting in line, asking for or paying a fair price, or risking one's life in battle. Therefore, we sought to understand consumer psychology and cognitive age as a reflection of inner psychology. People frequently perceive themselves as younger or older than their chronological ages. This self-perceived or cognitive age is a subjective age perception independent of actual chronological age. The discrepancy degree between chronological and cognitive age represents how much individuals perceive themselves as younger than they are. This study examines the gap in donation intention based on cognitive age. In order to investigate cognitive age, composed of four sub-categories (feel-age, look-age, do-age, and interest-age), this study explores the differential donation intention based on cognitive age, which determines the relationship between the young age and old age. Research design, data, and methodology - Data research was conducted by gathering 216 survey samples, excluding those with unreliable answers. Data coding and cleaning were used and SPSS 19.0 software for the data analysis. The respondents were categorized into two types, younger cognitive ages and older cognitive ages. Additionally, we analyzed the moderating variables. In particular, we used cognitive age degree and congruency level (cognitive age low vs. cognitive age high) × (congruency close vs. congruency distant) between - subjects design. First, regression was done to verify the difference between chronological age and cognitive age. Second, a t-test was done to verify the difference of cognitive age level in donations. Third, ANOVA (analysis of variance) was done to verify the difference between cognitive age and congruency in donations. Last, ANOVA was done to verify the difference between cognitive age and moral judgments in donations. Result - The results show most respondents perceive themselves as younger than their chronological ages. In particular, older respondents feel they are younger than their actual age. Moreover, the result of the comparison between low degree and high degree groups of cognitive age, show high donations at the higher degree of cognitive age groups. In addition, the closer the distance to the beneficiaries, the higher the donation in high degree cognitive age groups. The higher moral judgment groups also show relatively high contributions in lower degree cognitive age groups. Conclusions - Donations belong to the category of pro-social behavior reflecting an individual's psychological state. Therefore, it is important in understanding cognitive age. This study implies that it is necessary to take into account both cognitive age and chronological age when segmenting donors. Moreover, this study confirmed that there are different factors affecting the motives behind donations. Thus, it may be utilized to create differential donation strategies.

• Journal of KIISE:Computing Practices and Letters
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• v.7 no.6
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• pp.641-652
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• 2001

Most of current internet auction systems are single auction server program that partly automates the function of the conventional auction house. So these systems do not provide sufficient independence, distribution and parallelism between the functions of the conventional auction house. In these suction systems, only some of suction management facilities are automated by the server program, but still users need to execute a repetitive task to monitor the dynamic progress of a certain auction, decide the proper bid price, and submit the bid. Another problem is that they support only the single auctions such as English suction and Dutch auction, but they do not support the double auctions that are superior to the single auction in terms of speed, efficiency, and the fair distribution of profit. In this paper, we present are design and implement of an agent-based continuous double auction system, called CoDABot, in order to overcome the limitations of current auction systems. CoDABot supports the continuous double auction, provides various bidding agents for users to select, and has been implemented with a multi-agent system to realize more independent, and parallel subsystems.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.10
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• pp.25-32
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• 2018

The ending of the warranty under the current Multi-Housing Management Act has a lot of problem as it is very disadvantageous to the business entity and it makes hard for the contractor to finish the repair work. It is almost none for the business entity to get the written confirmation of the expiration of warranty liability from the client even though it sincerely completed their warranty obligation. It is because the client asks for the works other than fair repair arising from the defect in the work, such as the upgrade work for the enhancement of the value of their assets and the repair work which the client should take care before it issues the written confirmation of the expiration of warranty liability to the contractor. "So, though there is the law specifying this matter, the parties are relying on the unnecessary civil agreement. This leads to the big social and economic losses. If there is no agreement made between the client and the contractor, that leads to the legal dispute. This research on cases of 10 apartments shows that the types of works which the apartment residents ask for depend on the characteristics and conditions of the apartments and that they ask for various kinds of compensational works. In addition, it was found that there were many cases in which even the civil agreement is not recognized as the ending of the warranty obligation even if the proper procedure is taken for the ending of warranty by the contractor or business entity. If the collateral is to be offered to the client, the contractor would get more hard because there is the additional cost other than the warranty obligation, thus damaging the legal objective of the laws trying to minimize the damage made to the resident of the apartments. It means that the increase in the unnecessary warranty cost would lead to the increase in the selling price of apartment and the ending of the dispute through the civil procedure would make the Multi-Housing Act ineffective.

• 지역과문화
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• v.7 no.2
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• pp.85-111
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• 2020

In Korea, the independent publication market has grown since it came into existence in the 1990s. In 2008, the country's first independent bookstores selling independent publications opened. As of late 2019, there were a total of 466 independent bookstores in Korea and the number of independent bookstores rapidly increased for the last decade. However, the closing rate of independent bookstores is rapidly increasing. This trend is also shown in independent bookstores in Gwangju. Recently, the closing rate of independent bookstores in Gwangju is more than twice as high as the national average. Against this backdrop, this study intended to identify the current conditions of independent bookstores in the city, analyze the problems facing them, and find solutions. Independent bookstores in Gwangju currently make various efforts such as book curation, management of various supplementary programs, and book markets. However, the bookstores have problems including the curation and programs focused on specific areas, focus on limited generations, dependence on publications from the Seoul metropolitan area. To address these problems, this study proposed solutions such as diversifying publications through planning and developing of local contents, strengthening the taste-based salon nature, organizing networks of independent bookstores, and systematically incubating independent bookstores. At the system level, this study also suggested a need for local bookstore certification system, a complete execution of a fixed book price system, and a fair provision rate.

• The Korean Journal of Air & Space Law and Policy
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• v.30 no.1
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• pp.117-149
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• 2015

On May 16, 2014 the Supreme Court of Korea rendered its decision with respect to litigation filed by All Nippon Airways Co., Ltd. ("ANA") for revocation of an order of correction and payment of a penalty imposed by the Korea Fair Trade Commission ("KFTC"). On or around September 2002, ANA and various airlines operating air cargo service from Japan to Korea were allegedly to have agree to introduce of fuel surcharge into their rates on cargo fares in an attempt to recoup falling profits from rising of oil price. As this hard core cartel was per se prohibited under Korean competition law (The Monopoly Regulation And Fair Trade Act), KFTC began an investigation and consequently with fruitful results imposed an amount of penalty and issued an order of prohibition. ANA protested against this imposition by filing suit against KFTC under the reasons that (1) their agreement was simply pursuant to the relevant laws and regulations including Air Transport Agreement between Korea and Japan, (2) there was an administrative guidance from Japanese government to allow this agreement, (3) extraterritorial application of Korean competition law to the agreement in this matter was improper as it was made within Japan and targeted only for the shipment from Japan to Korea: accordingly there is not a direct and serious effect between the agreement and any result of anti-competitive. This article aims to review ANA's allegation and the judgement delivered by Korean court under some issues respectively; (1) whether there is an effectively actual anti-competitive cartel between airlines including plaintiff, (2) whether filed rate doctrine is reasonable and applicable in this case for precluding wrongfulness, (3) what is the reasonable limitation of boundaries in extraterritorial application of Korean competition law. Additionally, this article also suggests to concern particular features of air transport business as an regulated industry in judging the unfair restrain on competition.

• The Korean Society of Law and Medicine
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• v.20 no.3
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• pp.175-209
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• 2019

The bundled discounting which the dominant undertakings engage in is problematic in terms of competition restraint. Bundled discounts generally benefit not only buyers but also sellers. Specifically, bundled discounts usually costs a firm less to sell multiple products. In addition, Bundled discounts always provide some immediate consumer benefit in the form of lower prices. Therefore, competition authorities and courts should not be too quick to condemn bundled discounts and apply the neutral and objective standard in bundled discounting cases. Cascade Health v. Peacehealth decision starts ruling from this prerequisite. This decision pointed out that the dominant undertaking can exclude rivals through bundled discounting without pricing its products below its cost when rivals do not sell as great a number of product lines. So bundled discounting may have the anticompetitive impact by excluding less diversified but more efficient producers. This decision did not adopt Lepage case's standard which does not require the court to consider whether the competitor was at least as efficient of a producer as the bundled discounter. Instead of that, based on cost based approach, this decision said that the exclusionary element can not be satisfied unless the discounts result in prices that are below an appropriate measures of the defendant's costs. By adopting a discount attribution standard, this decision said that the full amount of the discounts should be allocated to the competitive products. As the seller can easily ascertain its own prices and costs of production and calculate whether its discounting practices exclude competitors, not the competitor's costs but the dominant undertaking's costs should be considered in applying discount attribution standard. This case deals with bundled discounting practice of multiple healthcare services by the dominant undertaking in healthcare market. Under the Korean healthcare system and public health insurance system, the price competition primarily exists in non-medical care benefits because public healthcare insurance in Korea is in combination with the compulsory medical care institution system. The cases that Monopoly Regulation and Fair Trade Law deals with, such as cartel and the abuse of monopoly power, also mainly exist in non-medical care benefits. The dominant undertaking's exclusionary bundled discounting in Korean healthcare markets may be practiced in the contracts between the dominant undertaking and private insurance companies with regards to non-medical care benefits.

• The Korean Journal of Financial Management
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• v.12 no.1
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• pp.167-186
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• 1995

기업인수합병(M&A) 시장의 활성화에 따라 적대적 공개매수를 방어하기 위한 반인수조치(Antitakeover Techniques)들에 관한 관심도 고조되고 있다. 지금까지 널리 알려져 있는 대표적인 반인수 조치들은 Fair Price Amendment(FPA), Classified Board Amendment(CBA)와 Poison Pills(PP) 등이다. 이들 대표적 세 반인수조치들 중에서 FPA와 CBA 채택의 경우는 주주들의 사전 승인이 요구되는데 반하여 PP는 주주들의 사전 승인없이 채택이 가능한 반인수조치이다. 이처럼 상이한 반인수조치들의 채택은 채택기업의 가치에 상이한 부의 효과를 미치는데, 이 분야의 많은 실증적연구 결과들이 보고되고 있다. 본 연구에서는 표본기업으로 현재까지 상호개별적으로 연구되어 왔던 두가지 반인수조치(FTA, CBA)에 PP와 비채택기업도 포함시키고 있다. 지금까지의 반인수조치 채택에 따른 기업가치에 미치는 부의 효과에 관한 연구결과를 확인해보고, 반인수조치 채택에 관한 경영자의 의사결정과 경영자의 부 사이에 체계적인 관계가 존재하는지를 실증분석하고자 한다. 여기서 경영자의 부는 기업내부자 지분율과 기업내 경영자를 위한 Golden Parachute의 존재 유무로 측정한다. 본 연구에서는 3개의 가설을 설정하였다. 가설1: 만일 경영자가 주주의 이익을 희생하면서 자신의 이익을 위한 반인수조치를 채택한다면, 반인수조치 채택의 공표는 평균적으로 기업가치에 부(-)의 효과를 보일 것이다. 가설2: 경영자의 내부지분율이 낮을때 경영자들은 주주에게 가장 해로운 반인수조치를 선택할 것이다. 가설3: Golden Parachute가 존재하지 않을때 경영자들은 주주에게 가장 해로운 반인수조치를 채택할 것이다. 본 연구의 대상기업들중에서 반인수조치 채택 기업들은 IRRC 1990년도판에서 수집되었고, 대칭표본 기업으로 반인수조치를 채택하지 않은 기업들은 CRSP 파일에서 기업규모, SIC 코드를 대응시켜 선정하였다. 임원, 관계이사들과 친인척을 포함하는 내부자의 지분과 Golden Parachute 존재 여부는 이 연구의 표본기업들의 Proxy Statement에서 수집하였다. 최종 표본기업은 FPA 채택기업, CBA 채택기업, PP채택기업, 그리고 비채택기업으로 4개의 상호 배타적인 기업 그룹으로 구성되었다. 본 연구는 Event Study와 Multinomial Logistic Regession의 두가지 실증분석 방법을 사용하였다. Event Study방법론은 반인수조치 채택 공표시 초과수익률을 조사하기 위해 사용하였다. Multinomial Logistic Regession은 선택된 반인수조치 종류와 설명 변수들(내부자 지분율, Golden Parachute)간에 체계적인 관계가 존재하는지를 검증하기 위해 사용되었다. 반인수조치들을 채택하는 기업들은 반인수조치를 채택하고 있지 않은 기업들에 비해 내부자 지분율이 낮게 나타났으며, 반인수조치 중 PP를 채택한 기업에서 가장 낮은 내부지분율을 보이고 있다. GP 채택을 보면 PP를 선택한 기업의 50%가 GP를 채택하였다. 본 연구에서 반인수조치 채택 발표일 하루 전후의 초과수익률을 조사한 결과는 반인수조치 미채택기업, CBA, FPA 채택기업들의 초과수익률은 통계적으로 의미가 없었으나, PP채택에 따른 초과수익률은 의미 있는 부(-)의 값을 나타냈다. 이와같이 CBA와 FPA채택기업들은 주주의 부를 감소시키지 않았으나 PP채택기업들은 주주의 부를 감소시켰다. 따라서 경영자는 주주의 이익을 희생시키면서 자신의 이익을 위해 PP를 선택하고 있음을 보여 주고 있다. 연구결과는 내부자 지분율의 크기가 경영자와 주주간의 이해를 효과적으로 일치시키고 있음을 제시하고 있다. 즉, 내부자 지분율이 큰 기업일수록 반인수조치를 채택하지 않거나 반인수조치 채택시에 주주의 이익에 반하지 않은 반인수조치를 선택하는 경향이 높다. Golden Parachute이 존재하는 기업은 FPA를 채택하거나 반인수조치를 채택하지 않는 것보다 PP나 CBA를 채택하는 경향이 더 높다. 한편 기업에서의 GP의 존재가 경영자의 가장 해로운 반인수조치 선택을 억제하지 못함을 보여주고 있는데, 이는 GP가 비효과적인 계약메카니즘임을 제기한다. GP가 경영자와 주주간의 이해를 일치시키도록하는 계약이라기 보다는 차라리 기업방어전략이 비효과적일때 경영자 자신의 안전판으로 제공되고 있음을 보여준다. 이 논문의 주요공헌은 기업내부자 지분율의 크기와 GP의 존재가 반인수조치 선택에 체계적인 영향을 미치고 있음을 보여준 것이다. 여기서 사용된 Multinomial Logistic모델은 내부지분을 크기와 GP의 존재가 PP또는 CBA가 채택될 것인지를 예측할 수 있게 한다.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Journal of the Society of Cosmetic Scientists of Korea
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• v.31 no.2 s.51
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• pp.169-177
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• 2005

The propensity to purchase babies' cosmetics is investigated and analysed for this research. The synopsis of this research paper is as follows. The first, the $68\%$ of all respondents do not how a manufacturer or brand name in the reality of variously emerging domestic and import cosmetics for babies. The second, in case of a child haying a fair, sensitive skin or atopy (atopic dermatitis), the respondents are careful in choosing babies cosmetics but in case of a child having a normal skin the older a child grows from a stage of a new-born, a baby and an infant to a primary-school child, the older its mother is, the more respondents use adults' cosmetics in common rather than use cosmetics only for babies. $7.6\%$ of respondents do not use babies' cosmetirs at ail. Especially, in using bathing goods such as a shampoo or a body cleanser, they frequently use adults' cosmetics in common. The third, the qualify is taken into the utmost consideration in purchasing babies' cosmetics. The Quality of imports is trusted and preferred better than that of domestic goods. The cost of purchasing babies cosmetics is less than 10,000 Won. consumers recognize that the price or cosmetics is rather high. The last, the improvement or babies cosmetics is 'the safety of goods', answered by $56.5\%$ of respondents. The respondents are generally not satisfied with babies' cosmetics. So, a baby's skin is threatened by a newly-built house syndrome, the increase of atopic dermatitis, etc., caused by an environmental pollutions, a change of diet and a change of residential life. Under these actual conditions, babies' cosmetics which can protect a delicate and sensitive skin of a baby should be developed immediately. Consumers should have a correct choice with precise recognition and information on a baby's skin and cosmetics and continually use the efficacious and excellent babies' cosmetics to prevent a baby from a skin irritation, and need to show a keen interest in a healthy skin of a baby.

• Journal of Intelligence and Information Systems
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• v.21 no.1
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• pp.161-177
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• 2015

With the rapid evolution of technology, the size, number, and the type of databases has increased concomitantly, so data mining approaches face many challenging applications from databases. One such application is discovery of fraud patterns from agricultural product wholesale transaction instances. The agricultural product wholesale market in Korea is huge, and vast numbers of transactions have been made every day. The demand for agricultural products continues to grow, and the use of electronic auction systems raises the efficiency of operations of wholesale market. Certainly, the number of unusual transactions is also assumed to be increased in proportion to the trading amount, where an unusual transaction is often the first sign of fraud. However, it is very difficult to identify and detect these transactions and the corresponding fraud occurred in agricultural product wholesale market because the types of fraud are more intelligent than ever before. The fraud can be detected by verifying the overall transaction records manually, but it requires significant amount of human resources, and ultimately is not a practical approach. Frauds also can be revealed by victim's report or complaint. But there are usually no victims in the agricultural product wholesale frauds because they are committed by collusion of an auction company and an intermediary wholesaler. Nevertheless, it is required to monitor transaction records continuously and to make an effort to prevent any fraud, because the fraud not only disturbs the fair trade order of the market but also reduces the credibility of the market rapidly. Applying data mining to such an environment is very useful since it can discover unknown fraud patterns or features from a large volume of transaction data properly. The objective of this research is to empirically investigate the factors necessary to detect fraud transactions in an agricultural product wholesale market by developing a data mining based fraud detection model. One of major frauds is the phantom transaction, which is a colluding transaction by the seller(auction company or forwarder) and buyer(intermediary wholesaler) to commit the fraud transaction. They pretend to fulfill the transaction by recording false data in the online transaction processing system without actually selling products, and the seller receives money from the buyer. This leads to the overstatement of sales performance and illegal money transfers, which reduces the credibility of market. This paper reviews the environment of wholesale market such as types of transactions, roles of participants of the market, and various types and characteristics of frauds, and introduces the whole process of developing the phantom transaction detection model. The process consists of the following 4 modules: (1) Data cleaning and standardization (2) Statistical data analysis such as distribution and correlation analysis, (3) Construction of classification model using decision-tree induction approach, (4) Verification of the model in terms of hit ratio. We collected real data from 6 associations of agricultural producers in metropolitan markets. Final model with a decision-tree induction approach revealed that monthly average trading price of item offered by forwarders is a key variable in detecting the phantom transaction. The verification procedure also confirmed the suitability of the results. However, even though the performance of the results of this research is satisfactory, sensitive issues are still remained for improving classification accuracy and conciseness of rules. One such issue is the robustness of data mining model. Data mining is very much data-oriented, so data mining models tend to be very sensitive to changes of data or situations. Thus, it is evident that this non-robustness of data mining model requires continuous remodeling as data or situation changes. We hope that this paper suggest valuable guideline to organizations and companies that consider introducing or constructing a fraud detection model in the future.