• 산경연구논집
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• 제10권6호
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• pp.51-58
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• 2019

Purpose - Prior studies reported that the opacity of information caused stock price crash. If managers fail to disclose unfavorable information about the firm over a long period of time, the stock price is overvalued compared to its original value. If the accumulated information reaches a critical point and spreads quickly to the market, the stock price plunges. Information management by management's disclosure policy can cause information uncertainty, which will lead to a plunge in stock prices in the future. Thus, this study aims at examining the impact of disclosure quality on crash risk by focusing on the unfaithful disclosure firms. Research design, data, and methodology - This study covers firms listed on KOSPI and KOSDAQ from 2004 to 2013. Firms excluded from the sample are non-December firms, capital-eroding firms, and financial firms. The financial data used in the research was extracted from the KIS-Value and TS2000 database. Unfaithful disclosure firm designation data was collected from the Korea Exchange's electronic disclosure system (kind.krx.co.kr). Stock crash is measured as a dummy variable that equals one if a firm experiences at least one crash week over the fiscal year, and zero otherwise. Results - Empirical results as to the relation between unfaithful disclosure corporation designation and stock price crashes are as follows: There was a significant positive association between unfaithful disclosure corporation designation and stock price crash. This result supports the hypothesis that firms that have previously exhibited unfaithful disclosure behavior are more likely to suffer stock price plunges due to information asymmetry. Second, stock price crashes due to unfaithful disclosures are more likely to occur in Chaebol firms. Conclusions - While previous studies used estimates as a proxy for information opacity, this study used an objective measure such as unfaithful disclosure corporation designation. The designation by Korea Exchange is an objective evidence that the firm attempted to conceal and distort information in the previous year. The results of this study suggest that capital market investors need to investigate firms' disclosure behaviors.

• 보건행정학회지
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• 제29권3호
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• pp.312-322
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• 2019

Background: Since 2003, Korea has consistently shown the highest suicide rate among the Organization for Economic Cooperation and Development countries, and suicide remains the major cause of death. In particular, men are 2-3 times more likely to commit suicide than women, which called the 'gender paradox of suicide.' The areas with frequent suicide have spatially clustered patterns because suicide with a social contagion spreads around the neighborhood. The purpose of this study was twofold. The first was to estimate the hotspot areas of age-standardized male suicide mortality from 2008 to 2015. The second was to analyze the relationship between the hotspot areas and the regional characteristics for study years. Methods: The data was collected through the Korean Statistical Information Service. The study areas were 227 si gun gu administrative districts in Korea. The hotspot area was used as a dependent variable. Socio-demographic variables (number of marriages per 1,000 population, number of divorces per 1,000 population, and urbanization rate), financial variables (financial independence and social security budget), and health behaviors (EuroQol-5 dimension [EQ-5D], and depression experience rate) were used as independents variables. Results: The hotspot areas were commonly located in Gangwon-do, Chungcheongnam-do, Gyeongsangbuk-do, and Chungceongbuk-do. According to the results of panel logit regression, the number of divorces per 1,000 population, social security budget, and EQ-5D were statistically significant variables. Conclusion: The results of hotspot analysis showed the need for establishing a prevention zone of suicide using hotspot areas. Also, medical resources could be considered to be preferentially placed in the prevention zone of suicide. This study could be used as basic data for health policymakers to establish a suicide-related policy.

• 재무관리연구
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• 제27권2호
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• pp.1-33
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• 2010

본 연구는 IPO 시장에서 나타나는 높은 초기수익률 및 장기저성과 현상이 주로 핫마켓상황에서 신규공개한 기업에 의해 야기되는지 분석하고, 이러한 핫마켓상황 공모 시장의 이상현상을 낙관적 투자자의 기대라는 행태적 관점에서 분석하였다. 특히, 낙관적 투자자의 기대가 영향을 미치는 가격결정메커니즘 측면과 낙관적 투자자의 기대를 이용하고자 하는 기업의 기회주의적 행동 측면으로 구분하여 살펴보았다. 국내 선행연구는 이상현상에 대한 원인을 버블로 해석할 뿐 이에 대한 체계적 실증연구가 미흡하다. 본 연구는 2001년부터 2005년 동안 코스닥시장에 신규상장을 마친 432개 기업들을 대상으로 하였으며, 이들 표본을 시장상황에 따라 '핫마켓 IPO'와 '콜드마켓 IPO'로 구분하여 비교 분석하였다. 분석결과 전체 IPO 시장의 이상현상은 대부분 '핫마켓 IPO'에 의한 것으로 생각되었다. 그리고 핫마켓에 존재하는 낙관적 투자자의 기대는 초기수익률을 높이지만 장기성과에는 부(-)의 영향을 미침으로써 핫마켓상황의 낙관적 투자자의 기대가 공모 시장의 이상현상을 초래하는 것으로 나타났다. 마지막으로, 코스닥시장의 핫마켓상황은 질적 여건이 좋지 않은 기업들에게 단지 기회로 이 용된다는 '기회의 창' 가설을 지지하는 증거는 발견되지 않았다.

• 보건의료산업학회지
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• 제11권4호
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• pp.133-144
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• 2017

Objectives : The purpose of this study was to identify factors affecting the subjective happiness of adolescents in Busan using data from the "12th Online Survey on Youth Health Behaviors, 2016." It intended to provide basic information for the development of intervention programs that can improve the subjective happiness of the youth. Methods : Data on 3,979 adolescents residing in Busan were drawn and statistically examined using frequency analysis, a t-test, an ANOVA, and a multiple regression analysis. SPSS 24.0 was used for all analyses. Results : Subjective happiness showed statistically significant differences depending on the factors of health equity like emotional support, gender, school level, financial state, academic performance, type of residence, and parents' educational level, and on the factors of health status, like subjective health state, depression, sleep and stress. Conclusions : The results of this study suggest that a variety of intervention programs on health status factors need to be developed, and implemented to improve the subjective happiness of adolescents in Busan.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Asia pacific journal of information systems
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• 제23권4호
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• pp.129-149
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• 2013

According to the development of new Information Technologies, firms consistently invest a significant amount of money in IT activities, such as establishing internal and external information systems. However, several anti-Information activities-such as hacking, leakage of information and system destruction-are also rapidly increasing, thus many firms are exposed to direct and indirect threats. Therefore, firms try to establish information security systems and manage these systems more effectively via an enterprise perspective. However, stakeholders or some managers have negative opinions about information security systems. Therefore, in this research, we study the relationship between multibusiness firms' performance and information security systems. Information security indicates physical and logical correspondence of information system department against threats and disaster. Studies on information security systems suggested frameworks such as IT Governance Cube and COBIT Framework to identify information security systems. Thus, this study define that information security systems is a controlled system on enterprise IT process and resource on IT Governance perspective rather than independent domain of IT. Thus, Information Security Systems should be understood as a subordinate concept of IT and business processes. In addition, this study incorporates information capability to information security system literature to show the positive relationship between Information Security Systems and Corporate Performance. The concept of information capability suggested that an interaction of human, information, technical and an effect on corporate performance using three types of capability (IT Practice, Information Management Practice, Information Behaviors and Values). Information capability is about firms' capability to manage IT infrastructure and information as well as individual employees who use IT infrastructure and information. Thus, this study uses information capability as a mediating variable for the relationship between information security systems and firms' performance. To investigate the relationship between Information Security Systems and multibusiness firms' performance, this study extends the IT relatedness concept into Information Security Systems. IT relatedness provides understanding of how corporations cope with conflicts between headquarters and business units to create a synergy effect and achieve high performance using IT resources. Based on the previous literature, this study develops the IT Security Relatedness model. IT Security Relatedness is our main independent variable, while Information Capability and Information Security Performance are mediating variables. To control for the common method bias, we collect each multibusiness firm's financial performance and use it as our dependent variable. We find that Information Security Systems influence Information Capability and Information Security Performance positively, and these two variables consequently influence Corporate Performance positively. In addition, this result indirectly shows that corporations under a multibusiness environment can obtain synergy effects using the integrated Information Security Systems. This positive impact of Information Security Systems on multibusiness firms' performance has an important implication to various stakeholders. Therefore, multibusiness firms need to establish Information Security Systems to achieve better financial performance.

• Asia Marketing Journal
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• 제7권1호
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• pp.21-42
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• 2005

고객관계관리(customer relationship management: 이하 CRM)는 고객에 대한 정보를 수집하고 수집된 정보를 효과적으로 활용하여 신규고객획득, 우수고객 유지, 고객가치 증진, 잠재고객 활성화, 평생 고객화의 순환을 통하여 고객을 적극적으로 관리하고 유지하며 고객의 가치를 극대화시키기 위한 기업 마케팅 전략의 일환이다. 특히 경쟁 환경이 급변하고 치열해 짐에 따라 기업의 수익 극대화를 위한 고객가치 증대 및 고객과의 관계 형성을 위한 CRM활동 중 고객의 이탈방지를 통한 유지관리의 중요성이 점차 커지고 있으며, 이러한 움직임은 고객 세분화를 통한 이탈고객 관리분석으로 주로 금융시장에서 다루어져왔다. 한편, 금융시장뿐만 아니라 모든 사업 분야에서 고객 유지 및 이탈방지를 위한 분석의 필요성은 높아지고 있다. 그 이유는 자사가 보유하고 있는 고객의 특성을 파악함으로써 기존의 고객을 효과적으로 유지·관리하여 고객이탈을 막는 것이 고객관리에서 점차 그 중요성을 더하기 때문이다. 그러나 아직까지 필요성만 대두될 뿐 어떠한 속성을 보유하고 있는 고객이 쉽게 이탈하는지를 판별할 수 있는 이탈고객에 대한 체계적인 연구가 진행되지 않았다는데 한계점이 있다. 이에 본 연구에서는 TV 홈쇼핑사의 실제 고객자료를 통하여 고객의 유지 및 이탈방지를 위한 CRM전개방안, 이탈고객과 유지고객간의 인구통계적 속성 및 거래 행동의 특성 차이를 분석, 이탈에 미치는 영향력이 높은 변수를 밝혀내고 이탈고객예측 모형을 통하여 개별고객의 이탈확률을 예측하고자 했다. 더 나아가 실증 분석 결과를 바탕으로 이탈예측고객을 대상으로 고객 이탈을 방지하고 거래유지 및 활성화를 위한 CRM전개 방안을 도출, 이를 바탕으로 TV 홈쇼핑사가 수립해야할 마케팅 전략을 제시한다.

• 경영과정보연구
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• 제36권1호
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• pp.309-327
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• 2017

최근 감정노동의 중요성이 커짐에 따라 본 연구는 감정노동이(표면행동, 내면행동)이 직무소진(정서적 고갈, 탈인격화, 자아성취감 저하)을 매개로 반생산적과업행동(조직일탈, 개인일탈)에 미치는 영향을 검증하고자 한다. 감정노동이 요구되는 콜센터종사자, 백화점판매원, 금융종사자, 병원접점종사자, 호텔접점종사자, 승무원, 고객센터종사자 등을 대상으로 총 350부의 설문지가 배부되었고, 불성실한 응답지를 제외한 300부의 설문지가 분석에 활용되었다. 실증연구결과는 다음과 같다. 첫째, 고객접점 종사자들이 직무수행과정에서 선택하게 되는 감정노동의 유형인 표면행동은 직무소진 중 정서적 고갈, 탈인격화, 자아성취감 저하에 모두 정(+)의 유의한 영향을 미치는 것으로 나타났다. 둘째, 내면행동은 직무소진 중 탈인격화, 자아성취감 저하에 부(-)의 유의한 영향을 미치는 것으로 나타났으나 정서적 고갈에는 유의한 영향을 미치지 않는 것으로 나타났다. 셋째, 직무소진 중 탈인격화와 자아성취감 저하는 모두 반생산적과업행동(조직일탈, 개인일탈)에 모두 정(+)의 유의한 영향을 미치는 것으로 나타났으나 정서적 고갈은 반생산적과업행동(조직일탈, 개인일탈)에 유의한 영향을 미치지 않는 것으로 나타났다. 이러한 분석결과를 토대로 본 연구의 시사점과 한계점 및 향후 연구방향에 대하여 논의하였다.

• 보건교육건강증진학회지
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• 제33권3호
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• pp.95-107
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• 2016

Objectives: Physical activity is well known as one of the most effective health behaviors for maintaining and promoting health. The purpose of this study was to investigate the regional variation, compositional and contextual factors on physical activities in Korea. Methods: This study analyzed data of 6,353 adults in 4th-1, 2 Korea National Health and Nutrition Examination Survey (KNHANES). Independent variables were compositional factors that included general characteristics, health behaviors, health status, and contextual factors that included physical environment, political environment, and social safety net. Dependent variables were vigorous physical activity, moderate physical activity, and walking activity. Multilevel analysis were used to determine a variation of physical activity between levels of compositional factors and contextual factors. Results: Physical activities of the Korean people were affected by the regional variables. Financial independence and population density were related with moderate physical activity significantly. Population density, school sport or rally spaces, cultural facilities, and social safety concerns were related with walking activity significantly. These variables impacted on physical activities along with variables at the individual level. Variance Partition Coefficient were 9.94% at moderate physical activity and 2.91% at walking activities, respectively. Conclusions: The results suggest that the regional variables should be considered when planning public intervention to promoting physical activities in Korean adults.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.315-324
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• 2022

The goal of this study is to understand better the relationship between hospital bed occupancy rate and cost rigidity as a proxy for the degree of hospital bed congestion, as well as the relationship between the risk of changes in hospital bed occupancy rate and congestion cost, targeting public hospitals. As public hospitals for analysis, we selected hospital projects from the Public Enterprises Survey Reports published by the Department of Public Enterprises, Ministry of Finance, and obtained unbalanced panel data consisting of 1,505 hospitals and 15 years, totaling 12,595 hospitals and years. The analysis revealed that the risk of changes in the bed occupancy rate increases the degree of cost rigidity and leads to a decrease in the variable cost ratio; furthermore, an increase in the bed occupancy rate decreases the degree of cost rigidity and leads to an increase in the variable cost ratio. These findings suggest that although public hospitals are taking managerial actions to avoid congestion costs, congestion costs resulting from higher bed occupancy rates have not been eliminated. The regression analysis results show that even if congestion costs arise as the occupancy rate increases, they are covered by the increase in revenue associated with the increase in the occupancy rate.