• Culinary science and hospitality research
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• v.20 no.6
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• pp.175-189
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• 2014

This study was intended to provide fundamental data concerning franchising companies' characteristics and performance in foodservice business by employing financial data from the firms' IDS(Information Disclosure Statements). Multiple regression analysis method was used to identify any correlations among franchising size, marketing competency, operational characteristics, and performance according to technique based upon 169 IDS data as of 2013. In terms of franchisor size and performance, the number of company-operated stores had statistically significant corelation with sales, net income, the total number of stores, and the number of franchisees. With respect to marketing competency and performance, advertising expenses showed statistically significant correlation with sales, the total number of stores, promotion expenses with sales, net income, and the total number of stores. On the other hand, there was no statistically significant correlation with current year's net income. At last, present study found significant correlations among business years, sales, current year's net income, and the total number of stores by regarding operational characteristics and performance, but there was no significant correlation between brands and performance. This study is cross-sectional study which is a limitation to be overcome in further studies. In addition, it is required to review the possibility for franchise management style to contribute to expanding the Korean traditional foods.

• Journal of Distribution Science
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• v.12 no.8
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• pp.113-121
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• 2014

Purpose - Recently, the number of corporations that practice environmental and social responsibility, besides engaging in traditional profit-seeking activities, has been growing steadily, as interest in Corporate Social Responsibility (CSR) is increasing. Recent research on CSR practices has identified the relationship between CSR activities and corporate value as one of the main issues in this respect. Considering that donations constitute a large proportion of a company's charitable activities, we considered the extent of donation expenses as a charitable activity in order to mitigate sample selection bias. Specifically, we analyzed the impact of donation expenses on firm value, while investigating if this impact varied in response to the level of corporate governance of firms. Research design, data, and methodology - We used non-financial firms listed on the Korean Stock Exchange, having their fiscal year end in December, and the sample period was 2006-2013. For the dependent variable, Tobin's q was used as the corporate value, and for the independent variable, donations were measured as the donation-expense-to-sales ratio. Corporate governance scores, as rated by the Korea Corporate Governance Service, were used to measure corporate governance levels because they consider the overall aspects of governance, including ownership structure, the board of directors, and the audit mechanism of individual companies. To examine the impact of donations on a company in relation to the level of corporate governance, we estimated regression models using the interaction terms of the governance dummy and donation variables. Then, we further estimated the regression models of two sub-samples that were classified according to the level of corporate governance. Similar to previous studies, the study uses variables that affect firm value, such as R&D expenditure, advertising expenses, EBITDA, debt-to-equity ratio, sales growth, company age, and company size as control variables. Results - The empirical results show that firm value significantly increased in response to an increase in donation expenses. Upon including the interaction terms of governance level dummy variables and donations, the coefficients of the interaction terms show significant positive values, while those of donation variables show significant negative values. In the strong governance sub-sample, the relationship between the donation expenses and corporate value was statistically positive (+) and significant. However, in the weak governance sub-sample, the relationship between the donation expenses and corporate value was statistically insignificant and negative (-). Conclusions - The empirical results suggest that donation expenses are significantly linked to an enhanced corporate value if firms have a good corporate governance structure. However, if the corporate governance structure is weak, the same relationship is not necessarily observed. The results of this study show that if a firm has high corporate governance, CSR practices enhance the company's reputation such that it has a positive (+) relationship with corporate value. If a firm has weak corporate governance, on the other hand, CSR practices are recognized as an agency cost and do not increase corporate value.

• Journal of Convergence for Information Technology
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• v.11 no.7
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• pp.21-30
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• 2021

With the development of IoT technology, various cloud computing-based services such as smart cars, smart healthcare, smart homes, and smart farms are expanding. With the advent of a new environment, various problems continue to occur, such as the possibility of exposure of important information such as personal information or company secrets, financial damage cases due to hacking, and human casualties due to malicious attack techniques. In this paper, we propose a message communication protocol for smart home-based secure communication and user data protection. As a detailed process, secure device registration, message authentication protocol, and renewal protocol were newly designed in the smart home environment. By referring to the security requirements related to the smart home service, the stability of the representative attack technique was verified, and as a result of performing a comparative analysis of the performance, the efficiency of about 50% in the communication aspect and 25% in the signature verification aspect was confirmed.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.155-174
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• 2008

This paper proposed several activation strategies at both the government and company parts for the development of domestic third party logistics(TPL) to pull electronic trade era much earlier. In the government side, it must need to arrange and integrate complex regulation rules on the Logistics for more smooth access and use the TPL market. Also, it has to provide multiple support policies such as tax reduction, technical and financial service providing, and logistics information system to TPL. Finally, it should construct the government levels education system to train and forster a competent man who is well qualified as a electronic and logiscic expert. The TPL company must build up a total logistics information system concerned with an innovative operation system such as SCM, JIT etc. which can provide logistic services on demand to the electronic trade customers to maximize consumer satisfaction. In the shipper company level, it try to join a long-term strategic alliance with TPL to reduce logistic cost and increase logistic service to its electronic trade consumers.

• Korean Institute of Interior Design Journal
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• v.25 no.1
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• pp.93-100
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• 2016

Long-life housing means a housing which structural members (Support) such as columns and floor are maintained for a long period of time and the housing can be used for approximately 100 years by replacing components (Infill) such as walls and furniture. The government established "Certification standards of long-life housing construction" on December 24, 2014, requiring the long-life housing certification for construction of apartment houses for over 1,000 households. However, it is necessary to prepare an incentive measure which could be granted to construction related personnel and housing owners due to the effectiveness of such system and recognition that the initial construction cost of long-life housing is high. The purpose of this study is as follows. First, the reasons and necessity of long-life housing cost increase for each construction company, housing owner, infill component manufacturer and designer which are long-life housing related personnel are determined. The direction of incentive grant for supplying long-life housing based on the determined items is established. The result of this study is as follows. First, a special treatment which is higher than the alleviation of construction standards according to the previous ordinance is necessary for construction companies to secure the business feasibility. Also, incentives such as the provision of service space and wide balcony are necessary to improve the preference level of parceling out. Second, financial incentives such as financial support for housing purchase, reduction and exemption of tax (acquisition tax and registration tax), and support of maintenance cost are required for house owners. Third, it is essential to increase opportunities to participate in the market for infill component manufacturers by applying additional points for PQ. Fourth, it is needed to provide compensation for additional human resource and time at the time of designing to designers by preparing the long-life housing design cost standards.

• The Journal of the Korea Contents Association
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• v.15 no.6
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• pp.445-454
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• 2015

The purpose of this study is to analyze the influence of the financial structure of pharmaceutical companies on R&D investment. 358 pharmaceutical firms listed in the KOSDAQ market from 2000 to 2012. Financial statements and comments in general and internal transactions were extracted from TS-2000 of the Korea Listed Company Association (KLCA), and data related to stock price was extracted from KISVALUE-III of NICE Information Service Co., Ltd. STATA 12.0 was used as the statistical package for panel analysis. The summary of the findings and the interpretation of the significance of this are as follows: First, the shareholding ratio of major shareholders and foreigners had a positive influence on R&D investment. Second, the ratio of outside directors had a negative influence on R&D investment. Third, the shareholding ratio of institutional investors did not have a significant influence on R&D investment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.1
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• pp.189-206
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• 2012

It is urgently requested to innovate the management process of business-service areas in all industry such as financial business, services and manufacturing because of recent business trend - de-manufacturing trend and the weight increment of service in all industries. Many enterprises introduce various management - innovation methodologies in order to meet the rapidly changing business environment. Especially in Korea, it is a vogue to introduce the innovation methodology of the advanced company's. According to this style, the six sigma has been introduced over 10 years since late 1990's and it has become a synonym of innovation indeed. But the result of six sigma introduction has not reached to the level of expectation in its beginning. And the "Lean" have been introduced in Korea in the situation of global financial crisis, economic slump and the pursuit of developing country such as China. Many Korea companies pay attention to the "Lean" innovation activity because the TPS(Toyota Production System) is the matrix of Lean and is the motive power of Toyota growth. In this study, it was analyzed for the evolution course, distinctive features and effects of Lean management and was examined for the difference of Lean management between manufacturing industry and business-service areas. From this results, the characteristics of Lean management in business-service was analyzed. After survey of innovation agent in Korea company, the Lean model of business-service Industry was developed and applied. This study will be worthy to show the right direction to the enterprises which are to apply lean methodologies, or the enterprises which examine lean management for competitive advantages or the peoples who research the same topics.

• The Journal of the Korea Contents Association
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• v.15 no.8
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• pp.473-480
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• 2015

The purpose of this study is to analyze the influence of the cash flow of pharmaceutical companies on R&D investment. 143 pharmaceutical companies listed in the KOSDAQ market from 2009 to 2013. Financial statements and comments in general and internal transactions were extracted from TS-2000 of the Korea Listed Company Association (KLCA), and data related to stock price was extracted from KISVALUE-III of NICE Information Service Co., Ltd. STATA 12.0 was used as the statistical package for panel analysis. The summary of the findings and the interpretation of the significance of this are as follows: First, the current ratio (internal finance) had a positive influence on R&D investment. Second, the debt ratio (external finance) had a negative influence on R&D investment. The pharmaceutical company prefers internal funds to external funds due to the asymmetry of information in the loan markets. In other words, this shows why internal finances have a significant influence on R&D investment at pharmaceutical companies.

• Korean Journal of Construction Engineering and Management
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• v.8 no.5
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• pp.152-160
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• 2007

Recently, the government is very active to secure the financial resources by inducement of the private investment in fulfilling an extension of the SOC facilities. One of the reasons that the private investors hesitate to put money into the private finance projects, however, is the lack of knowledges about various risks to be possibly incurred during the project execution. This research was performed as one of the preparation works in order for a A engineering company to act as a prime contractor of the project management service in the private finance project, and finally developed the risk factor dictionary as a new concept to satisfy the requirement of a A company and overcome a limit of the existing risk checklists. Although the risk factor dictionary looks like the only simplified table to be the risk factors identified in three dimensions, the impacts and response strategies expressed in narrative and multi-items, and the responsible parties indicated, it has great meanings to get a lot of direct and indirect accomplishments over the simplified table during the development process.

• Korean System Dynamics Review
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• v.7 no.1
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• pp.119-146
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• 2006

City of Gyeongju's referendum finally offered the long-waited low-level radioactive waste disposal site in November 2005. Gyeongju's positive decision was due to the various economic rewards and incentives the national government promised to the city. 300 million won for an accepting bonus, 8.5 billion won, annual revenue fro the entry quantity of waste into the city's disposal site, the location of the headquarter building of the Korean Hydro and Nuclear Power Co., and the accelerator research center. All of the above will affect the city's infrastructure and the citizens' economic and cultural lives. Population, land use, economic structure, environment and quality of life will be affected. Some will be very positive, and some will be positive. This research project will see the future of the city and forecast the demographic, economic, physical and environmental changes of the city via computer simulation's system dynamics technique. This kind of simulation will help City of Gyeongju's what to prepare for the future. The population forecasting of the year 2026 will be 289,069 with the waste disposal site, and 279,131 without the waste disposal site in Gyeongju. The waste disposal site and the relocation of the company headquarters and location of the accelerator research center will attract 9,938 individuals more with 511 manufacturing shops and 1944 service jobs. The population increase will bring 3,550 more houses constructed in the city. Land use will also be affected. More land will be developed. However, mad, water plant and waste water plant will not be expanded as much. The city's financial structure will be expanded, due to the increased revenues from the waste disposal site, and property tax revenues from the middle-class employees of the company, and the high-powered scientists and technologists from the accelerator research center. All in an, the future of the city will be brighter after operating the nuclear waste disposal site inside the city.