• Title/Summary/Keyword: Financial management

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A Study on World University Evaluation Systems: Focusing on U-Multirank of the European Union (유럽연합의 세계 대학 평가시스템 '유-멀티랭크' 연구)

  • Lee, Tae-Young
    • Korean Journal of Comparative Education
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    • v.27 no.4
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    • pp.187-209
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    • 2017
  • The purpose of this study was to highlight the necessity of a conceptual reestablishment of world university evaluations. The hitherto most well-known and validated world university evaluation systems such as Times Higher Education (THE), Quacquarelli Symonds (QS) or Academic Ranking of World Universities (ARWU) primarily assess big universities with quantitative evaluation indicators and performance results in the rankings. Those Systems have instigated a kind of elitism in higher education and neglect numerous small or local institutions of higher education, instead of providing stakeholders with comprehensive information about the real possibilities of tertiary education so that they can choose an institution that is individually tailored to their needs. Also, the management boards of universities and policymakers in higher education have partly been manipulated by and partly taken advantage of the elitist ranking systems with an economic emphasis, as indicated by research-centered evaluations and industry-university cooperation. To supplement such educational defects and to redress the lack of world university evaluation systems, a new system called 'U-Multirank' has been implemented with the financial support of the European Commission since 2012. U-Multirank was designed and is enforced by an international team of project experts led by CHE(Centre for Higher Education/Germany), CHEPS(Center for Higher Education Policy Studies/Netherlands) and CWTS(Centre for Science and Technology Studies at Leiden University/Netherlands). The significant features of U-Multirank, compared with e.g., THE and ARWU, are its qualitative, multidimensional, user-oriented and individualized assessment methods. Above all, its website and its assessment results, based on a mobile operating system and designed simply for international users, present a self-organized and evolutionary model of world university evaluation systems in the digital and global era. To estimate the universal validity of the redefinition of the world university evaluation system using U-Multirank, an epistemological approach will be used that relies on Edgar Morin's Complexity Theory and Karl Popper's Philosophy of Science.

The educational activities of Donam Seowon (돈암서원의 강학 활동)

  • Kim, Moon Joon
    • The Journal of Korean Philosophical History
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    • no.58
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    • pp.161-199
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    • 2018
  • The contents and method of education of all Korean scholars are similar to the contents and method of education provided by Zhu Xi(朱熹), but they operated in a somewhat different way according to schools. Those who served as the first directors of Donam Seowon were Kim Gip(金集, 1574~1656), Song Joon-gil(宋浚吉, 1606~1672) and Song Si-yeol(宋時烈, 1607~1689), who were the writers of Kim Jang-saeng(金長生, 1548~1631). Donam Seowon is supposed to have weakened the status of scholarship and the activities of lectures as HwaYang Seowon and Seoksil Seowon, which principals were all the Noron(老論) scholars, grew to be the center of education institution of the Noron. Donam Seowon have not preserved the school regulations. But the way of operating system of Donam Seowon can be guessed through the letter of Song Joon-gil, who was the headmaster of the late 17th century on the whole operation of Donam Seowon. From this letter, it is assumed that the school of Donam Seowon is similar to the 'Unbyoung-Jungsa regulations' written by Lee Yi(李珥). The headmasters of Donam Seowon was the Noron scholars. And scholars of the Kim Chang-hyeop(金昌協, 1651~1708) school became headmasters more than the scholars of Kwon Sang-ha(權尙夏, 1641~1721) school. Headmasters of the Donam Seowon had served as the headmasters of HwaYang Seowon and Seoksil Seowon also. In the early days of the establishment of the Donam Seowon, the lecture activities conducted in Donam Seowon were preceded by the textbooks of Kim Jang-saeng/Song Si-yeol's teaching curriculum and neo-confucian books[i.e Sohak (小學)${\rightarrow}$Family Ritual(家禮)${\rightarrow}$Simkyong(心經)${\rightarrow}$Keunsarok(近思錄). It is assumed that the scholars of Seoksil Seowon, who was a Noron Nak-ron(洛論) scholars, gradually adopted Lee Yi's teaching curriculum[i.e, Sohak(小學)${\rightarrow}$Sasoe(四書)${\rightarrow}$Okyoung(五經)]. This lecture contents and procedure was contents and procedure of the Seoksil Seowon, established and operated by the scholars of the Kim Chang-hyeop school. Entrance qualification of Donam Seowon's did not place importance on the social status, but on scholarship and personality. The examination for a high-ranking government official was not allowed. Although the principle, students had to participate in the lecture and study(講學), they were living in Seowon, while the financial and operating of the Seowon became increasingly difficult, the students were changed to participate in the conference(講會) held twice a month while studying at their homes.

A Study on the Effect of the Thematic Audit Review on Conservative Accounting of Unbilled Revenue (테마감리가 미청구공사의 보수적 회계처리에 미치는 영향에 관한 연구)

  • Park, Yeon Ho;Um, Jae Yeon;Jeon, Seong Il
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.16 no.2
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    • pp.177-188
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    • 2021
  • On December 2015, Financial Supervisory Service(FSS) announced the four key thematic audit review areas, one of them is an appropriation of unbilled revenue. Accounting of unbilled revenue is intertwined with a percentage of completion, that is concerned about discretionary decision by manager. Therefore, if manager motivated by income-increasing manipulation is exaggerating percentage of completion, unbilled revenue is excessively recognized. This problem is caused the serious accounting issues(e.g., shock at a loss for 2013 fiscal year by some construction firms, malpractice of accounting in order-made production industry). Distrust of accounting was grown because the shipbuilding and construction industries successively went poor management and bad accounting of them is revealed. Those accounting issues were the trigger for problem recognition of unbilled revenue, they were background for the designation of appropriation unbilled revenue as thematic audit review areas by FSS. Therefore, this study verified effectiveness of thematic audit review by empirically analyzing whether designation of thematic audit review makes the firm increases conservative behavior. Conservative accounting is estimated by using Basu(1997) model. We analyzed the effect of the thematic audit review on conservative accounting of unbilled revenue by comparing with reflecting unbilled revenue or not. The sample for test consists of firm-years the manufacturing and construction industries from 2012 to 2017. The test results of this study suggested that the conservative accounting of unbilled revenue after designation of the thematic audit review was significantly increased. We also tested again by classifying whether or not it is construction industry. We found that construction industry is more conservative than the other industry only for the designated year of the thematic audit review, otherwise there was not any evidence for significantly increasing conservatism. This study contributes to the literature by empirically analysing relationship of the unbilled revenue to the thematic audit review from the perspective of the conservatism and verifying effectiveness of the thematic audit review.

Multi-Level Analysis on the Influence of Core Employment Policies on the Team Leader's the Perceived Internal Process Organizational Competency and Job Satisfaction - Moderation Effect of Corporate Entrepreneurship - (인재우대 정책이 팀장의 인지된 조직 내부프로세스 역량과 직무만족도에 미치는 영향에 관한 다수준 분석 - 사내기업가 정신의 조절효과 중심으로 -)

  • Oh, Se-Ho;Nam, Jung-Min
    • The Journal of the Korea Contents Association
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    • v.21 no.8
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    • pp.150-162
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    • 2021
  • Companies have recently become increasingly interested in corporate entrepreneurship to establish a core employment policy in order to secure and maintain core employees and to foster an innovation-oriented organizational culture. Therefore, The purpose of this study is to empirically analyze the causal relationship between core employment policies and the team leader's the perceived internal process organizational competency and job satisfaction, and to investigate whether corporate entrepreneurship has a moderation effect. Non-financial service industries including ICT companies were subject of the study and human capital corporate panel(HCCP) was utilized. The samples were 367 team leaders from 79 domestic companies. This study also applied Multi-Level Analysis(HLM), which simultaneously analyzes variables at both the individual level and the organizational level in order to improve the accuracy of the study. According to the result of the study analysis, core employment policies have a positive(+) impact on the perceived internal process organizational competency and job satisfaction. In addition, the moderation effect of corporate entrepreneurship was verified during the process when core employment policies influence the two outcome variables. corporate entrepreneurship was found to have a moderation effect that strengthens the influence on job satisfaction, but the moderation effect on the perceived internal process organizational competency was not statistically significant. These results confirm that organizational cultural factors such as corporate entrepreneurship are important influence variables in the process of influencing individual-level variables such as core employment policies. Academically, It suggests that in order to enhance the effectiveness of company strategies in respect of human resource management such as core employment policies, it is important to foster a cultural environment that suits the industry and characteristics of the organization. In addition, it suggested that companies in need of new innovation need to utilize corporate entrepreneurship.

Health and nutrition intake status of the Korean elderly according to their food security level: data from the 7th Korea National Health and Nutrition Examination Survey (KNHANES VII), 2016-2018 (식품안정성 수준에 따른 한국노인의 건강상태와 영양섭취현황: 제7기 (2016-2018) 국민건강영양조사 자료 활용)

  • Maeng, Ahreum;Lee, Jeehyun;Yoon, Eunju
    • Journal of Nutrition and Health
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    • v.54 no.2
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    • pp.179-198
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    • 2021
  • Purpose: This study examined general characteristics, health status, accessibility to medical services, health-related quality of life, dietary behavior, and energy and nutrient intakes of the elderly at different levels of food security utilizing data from the 7th Korea National Health and Nutrition Examination Survey (2016-2018). Methods: The elderly subjects (1,721 males and 2,271 females) were divided into 3 groups (secure, mildly insecure, moderately/severely insecure) according to their food security levels. Health and nutrient status was determined using energy intake, nutrient density, the prevalence of insufficient nutrient intake, dietary behavior, and health status. Results: The elderly with food insecurities had a lower self-evaluated health status and a higher prevalence of physician-diagnosed chronic diseases such as arthritis, osteoarthritis, rheumatoid arthritis, osteoporosis for males, and hypertension, stroke, arthritis, and osteoarthritis for females. The associated financial burden was the major reason for not accessing medical services in the food insecure group. Furthermore, the food insecure group had a higher risk of impaired health-related quality of life compared to the secure group. The proportion of subjects with an energy intake below the estimated energy requirement was higher in the food insecure group and a significantly higher prevalence of insufficient intake was observed for all the nutrients (proteins, vitamin A, vitamin B1, vitamin B2, niacin, vitamin C, calcium, and iron) assessed in this study compared to the food secure group. Conclusion: This study suggests that food insecurity poses a challenge to the health and nutritional status of the elderly population in Korea and needs proper management. It would be helpful to develop food and nutrition assistance programs to ensure the food stability of the elderly population and assure quality to address gaps in their nutrient intake.

Research on the Legal Composition and Institutional Systems of The Dao Constitution: Focusing on The Constitution of the Republic of Korea (『도헌』의 법률적 구성과 제도적 장치 연구 - 대한민국헌법을 중심으로 -)

  • Kim, Young-jin
    • Journal of the Daesoon Academy of Sciences
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    • v.40
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    • pp.77-114
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    • 2022
  • The purpose of this study is to analyze the ideological background, legal composition, and separation of powers contained within the institutional devices of The Dao Constitution based on the basic principles of the legal system, which would be embodied in The Constitution of the Republic of Korea. The ideological background of The Dao Constitution is that of the religion, Daesoon Jinrihoe. In Daesoon Jinrihoe, it is held that the Supreme God, Sangje, determined that Mutual Contention, the ruling pattern of the Former World, ran contrary to His divine will and this endangered the world as nature and humans had also fallen into Mutual Contention. As an act of divine intervention, Sangje established Mutual Beneficence so that nature and humanity could follow Mutual Beneficence as a paradigm shift culminating in a Great Opening of the universe. Sangje, the agent behind the paradigm shift, revealed His divine will that humans transform into mutually beneficent humans. Therefore, The Dao Constitution was written to be a set of fundamental norms based on the 'rights and obligations of the members of Daesoon Jinrihoe' to accept and implement the will of Sangje as it applies to each member's mission. The legal composition of The Dao Constitution consists of the body and supplementary provisions. The text consists of general rules, moral rights and obligations, origins, and institutional devices. Institutional devices include the Central Council, the Institute of Propagation and Edition, the Institute of Religious Services, Works, Financial Management, and the Institute of Audit and Inspection. The legal composition of The Dao Constitution is similar to that of the Constitution. The difference is that while the Constitution applies a 'principle of maximum rights and minimum obligations,' The Dao Constitution stipulates more obligations than rights in order to complete the mission of the members. The principle of separation of powers is applied to the institutional devices in The Dao Constitution. In The Dao Constitution, the organizational form of the central headquarters has been divided into a 'before and after' scheme surrounding the death of Dojeon. The organizational form of the central headquarters prior to Dojeon's death was similar to a Constitutional Monarchy. After the death of Dojeon, the central headquarters' organizational form became similar to a parliamentary cabinet system. The separation of powers at central headquarters is divided among a legislative power (the Central Council), an executive power (the Institute of Religious Services), and a judicial power (the Institute of Audit and Inspection). The separation of powers within the functions of the central government first occurs between the Central Council and its employees, then between the Central Council and the Institute of Auditing and Inspection, and also between the Legislative Government and the Institute of Religious Services. Furthermore, the principle of a vertical separation of powers exists between the central headquarters and the local organization.

Effect of transaction characteristic factors of logistics companies on performance and long-term transaction intention (물류기업의 거래특성요인이 성과 및 장기거래의도에 미치는 영향)

  • Chung, Yeon-Joo
    • Journal of Korea Port Economic Association
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    • v.38 no.1
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    • pp.1-14
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    • 2022
  • The change in the management environment of the logistics industry in the era of global competition is becoming an era in which customers choose companies. Differentiation from competitors through the provision of products and services suitable for customers As customers' choices change depending on their superiority, companies are constantly striving to receive or retain customers' choices. Ultimately, this competitive structure can be seen as the importance of long-term relationship building. Therefore, in this study, we examined how factors related to transaction characteristics performed by logistics companies for customer satisfaction in the transaction relationship between cargo companies and shippers affect performance and long-term transaction intentions. First, we derived the factors of logistics service, cost, logistics infrastructure, and company competency, which are transaction characteristics factors of a logistics company that must be specifically realized for customer satisfaction in transactions between logistics companies. Second, we analyzed how the transaction characteristics factors of a logistics company affect the company's performance, and finally, how the company's performance factors affect long-term transaction intentions. As a result of empirical analysis, there were no statistically significant results on the relationship between transaction characteristics and performance of logistics companies, which can be attributed to the small size of the logistics companies that were the sample. In other words, logistics companies that do not have sufficient capacity to provide services at low prices have no choice but to engage in constant bleeding competition. It can be seen that it reflects the characteristics of the industry. On the other hand, the relationship between corporate performance factors and long-term transaction intention was found to have a positive relationship. The higher the level of partnership with logistics companies and visible financial performance is, the higher the transaction will be in the future, and the more the transaction volume will be gradually increased. And even if it costs a little more, it can be seen that the intention to continue trading is greatly expressed.

Exploring A Research Trend on Entrepreneurial Ecosystem in the 40 Years of the Asia Pacific Journal of Small Business for the Development of Ecosystem Measurement Framework (「중소기업연구」 40년 동안의 창업생태계 연구 동향 고찰 및 측정모형 개발을 위한 탐색적 연구)

  • Seo, Ribin;Choi, Kyung Cheol;Byun, Youngjo
    • Korean small business review
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    • v.42 no.4
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    • pp.69-102
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    • 2020
  • Shedding new light on the research trend on entrepreneurial ecosystems in the 40-year history of the Asia Pacific Journal of Small Business, this study aims at exploring a potential measurement framework of ecological inputs and outputs in an entrepreneurial ecosystem that promotes entrepreneurship at geographical and spatial levels. As a result of the analysis of research on the entrepreneurial ecosystem in the journal, we found that prior studies emphasized the managerial importance of various ecological factors on the premise of possible causalities between the factors and entrepreneurship. However, empirical research to verify the premised causality has been underexplored yet. This literature gap may lead to unbalanced development of conceptual and case studies that identify requirements for successful entrepreneurial ecosystems based on experiential facts, thereby hindering the generalization of the research results for practical implications. In that there is a growing interest in creating and operating productive entrepreneurial ecosystems as an innovation engine that drives national and regional economic growth, it is necessary to explore and develop the measurement framework for ecological factors that can be used in future empirical research. Hereupon, we apply a conceptual model of 'input-output-outcome-impact' to categorize individual environmental factors identified in prior studies. Based on the model. We operationalize ecological input factors as the financial, intellectual, institutional, and social capitals, and ecological output factors as the establishment-based, innovation-based, and performance-based entrepreneurship. Also, we propose several longitudinal databases that future empirical research can use in analyzing the potential causality between the ecological input and output factors. The proposed framework of entrepreneurial ecosystems, which focuses on measuring ecological input and output factors, has a high application value for future research that analyzes the causality.

The Private-Initiated Park Development Project in Terms of Securing Publicity Operation Characteristics Analysis - Busan Metropolitan City as a Case - (공공성 확보측면에서 민간공원특례사업 운영특성분석 - "부산광역시를 사례로" -)

  • Gweon, Young-Dal;Park, Hyun-Bin;Kim, Dong-Pil
    • Journal of the Korean Institute of Landscape Architecture
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    • v.51 no.1
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    • pp.13-28
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    • 2023
  • This study examines the process of project promotion in Busan, which introduced the private participation-type consultative body for the first time in the country in the promotion stage of the private-initiated park development project, and introduced flexible application of the system and differentiated policy elements in the implementation process, and examines the operational characteristics and we tried to analyze performance, etc. As a result of the analysis, first, the preferred bidder was selected by introducing a mixed method in the project method, which is an independent project method that cannot be seen in other local governments. Second, by specifying guidelines considering the characteristics of each park and detailed guidelines such as the location, area, and maximum height of non-park facilities, criteria for establishing a rational development plan utilizing regional identity and the basis of evaluation standards were laid. Third, in the project process, transparency was secured through the delegation-type roundtable, in which the private sector performs the functions and roles of key actors, thereby preventing disputes such as suspicion of preferential treatment. Fourth, in order to improve the quality of park facilities to be donated and to secure design adequacy, after approval of the implementation plan, a general planner was introduced and construction project management (design stage) services were performed to promote efficient implementation and specialization of luxury parks in the region. As a result, the city of Busan carried out the project efficiently by conserving 5 parks from sunset, a park area of 2.25km2, and reducing land compensation and park construction costs by KRW 740 billion. Reinforcement of the public nature of the private-initiated park development project was suggested. However, due to the application of these systems and verification procedures, the project period is prolonged, and park services are delayed along with the financial burden on private operators.

A Case Study of Shanghai Tang: How to Build a Chinese Luxury Brand

  • Heine, Klaus;Phan, Michel
    • Asia Marketing Journal
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    • v.15 no.1
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    • pp.1-22
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    • 2013
  • This case focuses on Shanghai Tang, the first truly Chinese luxury brand that appeals to both Westerners and, more recently, to Chinese consumers worldwide. A visionary and wealthy businessman Sir David Tang created this company from scratch in 1994 in Hong Kong. Its story, spanned over almost two decades, has been fascinating. It went from what best a Chinese brand could be in the eyes of Westerners who love the Chinese culture, to a nearly-bankrupted company in 1998, before being acquired by Richemont, the second largest luxury group in the world. Since then, its turnaround has been spectacular with a growing appeal among Chinese luxury consumers who represent the core segment of the luxury industry today. The main objective of this case study is to formally examine how Shanghai Tang overcame its downfall and re-emerged as one the very few well- known Chinese luxury brands. More specifically, this case highlights the ways with which Shanghai Tang made a transitional change from a brand for Westerners who love the Chinese culture, to a brand for both, Westerners who love the Chinese culture and Chinese who love luxury. A close examination reveals that Shanghai Tang has followed the brand identity concept that consists of two major components: functional and emotional. The functional component for developing a luxury brand concerns all product characteristics that will make a product 'luxurious' in the eyes of the consumer, such as premium quality of cachemire from Mongolia, Chinese silk, lacquer, finest leather, porcelain, and jade in the case of Shanghai Tang. The emotional component consists of non-functional symbolic meanings of a brand. The symbolic meaning marks the major difference between a premium and a luxury brand. In the case of Shanghai Tang, its symbolic meaning refers to the Chinese culture and the brand aims to represent the best of Chinese traditions and establish itself as "the ambassador of modern Chinese style". It touches the Chinese heritage and emotions. Shanghai Tang has reinvented the modern Chinese chic by drawing back to the stylish decadence of Shanghai in the 1930s, which was then called the "Paris of the East", and this is where the brand finds inspiration to create its own myth. Once the functional and emotional components assured, Shanghai Tang has gone through a four-stage development to become the first global Chinese luxury brand: introduction, deepening, expansion, and revitalization. Introduction: David Tang discovered a market gap and had a vision to launch the first Chinese luxury brand to the world. The key success drivers for the introduction and management of a Chinese luxury brand are a solid brand identity and, above all, a creative mind, an inspired person. This was David Tang then, and this is now Raphael Le Masne de Chermont, the current Executive Chairman. Shanghai Tang combines Chinese and Western elements, which it finds to be the most sustainable platform for drawing consumers. Deepening: A major objective of the next phase is to become recognized as a luxury brand and a fashion or design authority. For this purpose, Shanghai Tang has cooperated with other well-regarded luxury and lifestyle brands such as Puma and Swarovski. It also expanded its product lines from high-end custom-made garments to music CDs and restaurant. Expansion: After the opening of his first store in Hong Kong in 1994, David Tang went on to open his second store in New York City three years later. However this New York retail operation was a financial disaster. Barely nineteen months after the opening, the store was shut down and quietly relocated to a cheaper location of Madison Avenue. Despite this failure, Shanghai Tang products found numerous followers especially among Western tourists and became "souvenir-like" must-haves. However, despite its strong brand DNA, the brand did not generate enough repeated sales and over the years the company cumulated heavy debts and became unprofitable. Revitalizing: After its purchase by Richemont in 1998, Le Masne de Chermont was appointed to lead the company, reposition the brand and undertake some major strategic changes such as revising the "Shanghai Tang" designs to appeal not only to Westerners but also to Chinese consumers, and to open new stores around the world. Since then, Shanghai Tang has become synonymous to a modern Chinese luxury lifestyle brand.

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