• International conference on construction engineering and project management
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• 2005.10a
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• pp.1007-1012
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• 2005

Although the design-build (DB) delivery system has been taking great strides in the world and relevant researches have also been quite abundant, few studies have dealt with its potential impacts on the construction industry as a whole. This research first identified the potential entry barrier factors, which may hinder the market access, based on the theory of industrial economics and characteristics of DB project. Then through a nation-wide questionnaire survey involving 103 construction contractors and engineering consultants, the influences of each factor on company's competitiveness and corporate strategies were scrutinized, and consequently, the evolution of the construction industry was examined. It is found that as opposed to the traditional design-bid-build delivery system, the DB delivery system elevates competitive advantages of large organizations in terms of the financial capability, working experience, human resource, and administrative strength, and among them, the financial strength was concluded to be the most significant force in differentiating corporate strategies and widening the gap of competitiveness between companies. It is inferred if the government extensively adopts DB delivery system, large organizations that already possess the competitive advantage tend to obtain both design and construction abilities, and dominate the DB market. Small and medium sized companies will find little room to maneuver and be forced to become specialty sub-contractors.

• Journal of Distribution Science
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• v.16 no.5
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• pp.31-43
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• 2018

Purpose - We examine how a Korean retail firm's social responsibility is related to its financial performances. The traditional view of corporation expects a negative relationship, while the stakeholder theory expects a positive one. Research design, data, and methodology - We adopt the ESG score, published by Korean Corporate Governance Service to measure the level of socially responsible activity for the Korean retail firms. The ordinary least square method is adopted to investigate this relationship. The publicly traded retail firms are examined from 2011 to 2016. Results - We find that the total ESG score is negatively related to ROE but shows no statistically significant relationship with ROA and Tobin's Q value. However, a firm's environmental score is negatively related with both of ROE and ROA. Its social score is no conclusive relationship with the performance measures. The governance score is negatively related to the value of Tobin's Q. Conclusions - This paper generally supports the traditional view of corporate theory, especially in terms of ROE. This evidence is not well aligned with the existing study for Korean corporations generally documenting positive relationships. We find almost no empirical evidence supporting the stakeholder theory of corporation in the Korean retail industry.

• The Journal of the Korea Contents Association
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• v.17 no.12
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• pp.281-288
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• 2017

Financial service commission notified that fingerprint information of their documents should be deleted till 2019 to the financial industry and the public institution. Business solutions for fingerprint detection and masking in document images are introduced. In this paper, a fingerprint information masking algorithm is proposed by using the multiple LBP features to extract fingerprint's intrinsic characteristics for artificial neural network decision whether the candidate is a true fingerprint or not after segmentation of versatile fingerprint candidates from a document image. The experimental results of the proposed fingerprint masking algorithm for 3,497 document images that are saved in a financial industry show that 96.4% of fingerprint information is masked, hence this fingerprint masking algorithm can be used efficiently in real fingerprint masking tasks.

• International Commerce and Information Review
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• v.9 no.2
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• pp.41-64
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• 2007

A life insurance industry's market is reaching a state of saturation recently, and the competition is as time goes by intense among the non-life insurance industry. Consequently, the insurance companies must grope a new source of revenue and develop a new business model for a stability growth. At the forked road, the insurance companies must group the existing and new customers in order to find the royal customers, and develop a new service with them. Accordingly, it is the time to study the advance of PB field and the royal customer management that will maintain and expand the new relations with them. Besides, the PB was the service to begin in needs of the specific group, but now it is regarded as a new source of high profit in the age of universal financial service among the financial circles. As a consequence, the PB marketing is introduced in haste, and such trend seems to be continued. Therefore, the plans that help the domestic insurance company reflect the characteristic of the insurance and expand the scope of business into the scope of property management according to the needs of customers under a universal financial service trend will be studied.

• Journal of Korean Society for Quality Management
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• v.41 no.1
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• pp.1-14
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• 2013

Purpose: The purpose of this research was to investigate the spread pattern of Korean legal certification systems and their impact on industry performance. Methods: It first analyzes the life cycle of legal certification systems and classifies them into four categories based on the spread patterns in a chronological view. A survey study is then conducted to find out the impact of legal certification systems on financial performance. Both the legal mandatory certification systems and the legal voluntary certification systems are included in the survey. Results: Four spread patterns of legal certification systems are sustainable growth, stagnation after growth, decrease after growth, and repetition of growth and declination. 56% of 293 certified corporations responded positively about the financial impact of their certification systems. Conclusion: The policy makers can utilize the results of this study in designing additional certification systems as well as promoting the current legal certification systems.

• Journal of Korea Society of Digital Industry and Information Management
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• v.13 no.4
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• pp.13-23
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• 2017

In order to protect personal information and important information (confidential information, sales information, user information, etc.) in the internal network, companies and organizations apply encryption to the Server-To-Server or Server-To-Client communication section, And are experiencing difficulties due to the increasing number of known attacks and intelligent security attacks. In order to apply the existing S / W encryption technology, it is necessary to modify the application. In the financial sector, "Comprehensive Measures to Prevent the Recurrence of Personal Information Leakage in the Domestic Financial Sector" has been issued, and standard guidelines for financial computing security have been laid out, and it is required to expand the whole area of encryption to the internal network. In addition, even in environments such as U-Health and Smart Grid, which are based on the Internet of Things (IoT) environment, which is increasingly used, security requirements for each collection gateway and secure transmission of the transmitted and received data The requirements of the secure channel for the use of the standard are specified in the standard. Therefore, in this paper, we propose a secure encryption algorithm through mutual authentication and grouping for each node through H / W based Network Control Server (NCS) applicable to internal system and IoT environment provided by enterprises and organizations. We propose a protocol design that can set the channel.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.193-212
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• 2021

Purpose - This study investigates the effect of auditor change on client firm's accounting (financial statement) comparability. Design/methodology/approach - The comparability of accounting information is measured by the difference in accruals between the two firms. Additionally, the study uses earnings-stock return relationship as another proxy of accounting comparability. In particular, the paper examines whether there is a systematic difference between initial audit years and the other years with respect to the client firm's accounting comparability. Moreover, current study tests how changes in auditor size or industry expertise before and after the switch of auditors affect the accounting comparability. Findings - The results show that the level of accounting comparability is lower in the year of auditor change than in the other years. Furthermore, this lower level of comparability is derived by the observations that switch their auditors from non-Big4 to non-Big4 or from non-specialist to non-specialist. These results are consistent when accounting comparability is measured by different proxies. Research implications or Originality - The findings of this study provide important policy implications for the regulations related with auditor selection.

• Journal of Korea Port Economic Association
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• v.39 no.2
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• pp.97-110
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• 2023

This study examines the effect of macroeconomic shocks on the financial stability of the Korean shipping industry. Using Firth logistic regression model, this study estimates the default probability of a shipping company. The results from a default prediction model suggest that total assets are negatively correlated with default probability, while total debt is positively correlated with default probability. Based on the results from a default prediction model, this study investigates the effect of macroeconomic shocks, namely total assets, sales, and total debt shocks, on a shipping company's default probability. The stress test results indicate that a decrease in sales and total assets significantly deteriorates the financial stability of a shipping company.

• Asia pacific journal of information systems
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• v.32 no.3
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• pp.537-563
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• 2022

This study investigates the adoption and application of digital transformation in the financial sector and analyzes the process and outcomes of digitization and digitalization in the field of the finance industry of South Korea and overseas, in order to seek both managerial and strategic implications for successful implementation of digital transformation in the future. The findings show that, for successful digital transformation, it is necessary to maximize active and systematic use of advanced online and digital technologies that form the basis of business and create an open, horizontal organizational culture and communication system to equally share and distribute advanced technologies and competencies through the entire organization. Furthermore, this study also discovers the legitimacy to concentrate the organizational competencies and know-how in providing technical training for members, expanding customer experience, and improving customer satisfaction services to contribute to improving the quality of life for members of the organization and creating and improving social and public infrastructures, instead of using digital transformation only to improve productivity of organizations or firms. As such, it is necessary to concentrate corporate competencies in establishing and supplying digital transformation that is not just human-centered but also has productivity, innovativeness, and reliability at the same time.

• Journal of Korean Society for Quality Management
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• v.32 no.3
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• pp.153-165
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• 2004

Recently, financial service industry of Korea started to pay attention to private banking targeting to the rich. However, as the advanced foreign competitors have entered the market, strategic approaches are needed focusing on the general rich rather than the exceptional VIPs. In this paper, we use QFD to provide marketing strategies for Korean financial service providers. Our finding is that ‘intangible service provided by private banker’ and ‘off-line sales’ have marketing priority and ‘investment management’ and ‘value-added service’ follow.