• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.37-69
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• 2005

This study intends to verify whether stock repurchase, as well as stock dispositions, affects shareholder's wealth and also whether repurchase/dispositions has varying impact de-pending on its purpose. According to empirical analysis, announcement of stock repurchase results in positive abnormal returns when the objective of stock repurchase is stock price stabilization or cancellation of shares. However, when the purpose of stock repurchase is granting incentives to executives/employees, we get the negative abnormal returns. Also, the termination of stock trust for reason of expiration or stock dispositions of which goal is to give incentives to executive/employees has a negative impact on stock price, whereas direct dispositions of stock to raise cash or to improve financial structrue are shown to significantly increase the wealth of shareholders. Cross-section analysis also confirms that stock repurchase and dispositions has different impact on excess returns depending on its purpose. The results of this study imply that the dispositions of stock should be regarded as an important financial strategic tool to be used by companies and what's more, such studies dealing with stock repurchase or dispositions should take firm's purpose into consideration in their approach.

• The Journal of Sustainable Design and Educational Environment Research
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• v.3 no.1
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• pp.1-14
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• 2003

This study attempts to review the present situations of rural schools in South Korea, to analyze problems regarding the educational environments for their students, and to present direction for improving toward better educational environments. All the data and information are based on using avaiable documents and personal macro observation and insights. The sharp decrease of rural population for recent decades has made lots of public schools unexceptionall much smaller by school number and students' number. Nearly five thousands of rural small schools have already been abolished and the rest are also endangered to be dosed. In order to tackIe such problem, the Government has been trying to provide rural students with better educational environment, but failed to attract them to stay in rural schools. Most of rural school students have poorer family environment, underprivilged school learning environment, and less civilized community environment. Those normal parents living in rural areas are likely to send their kids to urban schools for prior opportunities to enter better quality of higher level of schools and then the remained attending rural schools are those who live with grand parents or whose parents are very disadvantaged. The rural school teachers are teaching much less number of students compared to urban teachers, but their students are less achieved learners. Notwithstanding their abudant natural community learning environments, the rural school students are less making use of those resources and less benefited from more civilized life due to their underdeveloped community conditions. In order to improve such educational environments, incentives for young couples to safely reside in rural communities, incentives for better qualified teachers to preferably work for rural schools, better learning facilities for rural school students and for better vocational experiences, lifelong learning opportunities for all community people, and increased public support to rural development for rural people not to worry about their rural lives, need to be guarantyed.

• Journal of Service Research and Studies
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• v.9 no.1
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• pp.73-86
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• 2019

This study discusses the 4th industrial revolution and technology commercialization (TC), identifies success factor (SFs) for TC from the literature review, and empirically tests these factors through questionnaires to executives in the 4th industrial revolution industries. Literature review identifies 11 SFs and they are communication, management support, incentives for TC, common goals, understanding business, awareness of TC, cooperation among partners, government support, concreteness of technology, demand-pull technology, and experience of TC. Questionnaires were administered to CEOs and CIOs in 202 companies in the 4th industrial revolution industries and final response rate was 64.4% (260 out of 404) that is considered to be high. Respondents rate cooperation among partners as the most important, followed by management support, communication, common goals, and incentives for TC. To successfully pursue technology commercialization projects in the 4th industrial revolution industries, the attention should be focused on SFs that are evaluated as very important.

• East Asian Economic Review
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• v.25 no.3
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• pp.273-309
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• 2021

The development of regulatory systems varies between transition and non-transition economies. This suggests that they provide different incentives for entrepreneurial development and could have varied effects on the economy because they have different methods to deal with market failure. However, limited empirical evidence exists to prove the assumption of dichotomy. Using comprehensive data for institutional quality, labor market and financial market development, this research sought to analyze their effect on employment growth at micro level. The results show that the quality of institutions in transition economies are poorer relative to those in non-transition economies, but their financial and labor markets are more developed than the latter. Further analysis for the transition sample shows that the three variables are individually positively related with employment growth. For the non-transition sample, institutional quality and labor market flexibility bear a positive and significant effect on employment. Financial market development enters the model with a negative coefficient when regressed alone, but a joint test of significance finds that all the variables have a positive effect on employment growth. This result could imply that there is interdependence between institutional quality, labor flexibility and financial market development in firm-employment-growth relationship, or complementarity between regulations and the quality of institutions. Alternatively, this finding suggests that a stringently regulated credit market in non-transition economies have a selection effect-allocating credit only to entrepreneurs who already demonstrate strong growth potential. In sum, despite differences in the evolution of regulatory environment between the two samples, both of them complement employment growth at firm level. The overall implication of these findings is that less rigid regulations and coherent policies that are enforced with impartiality provide incentives for firms to expand.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.20 no.5
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• pp.157-171
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• 2021

As smartphones spread and ICT technologies develop, taxi services have changed from hovering to platform-based calls and reservations. This has improved the mobility and accessibility of taxi users but caused problems, such as digital observing (no-responses to calls) for either short-distance services or services during the peak-demand periods. Digital Observing means ignoring and not accepting calls when they occur, which require improvement. Therefore, this study aims to derive measures to mitigate discrepancies in taxi supply and demand by adjusting the expected revenue of each taxi service using reinforcement learning based on the Taxi operation data. The results confirmed that the average complete response rate to calls would increase from 50.29% to 54.24% when incentives are applied, and an improvement of 5.86% can be achieved in short-distance sections of less than 5,000 won incentives. It is expected that the improvement will increase profitability for drivers, reduce the waiting time for passengers, and improve satisfaction with taxi services overall.

• Journal of Digital Convergence
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• v.19 no.5
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• pp.215-227
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• 2021

This study empirically studied the factors affecting the intensity of use of mobile social media and fatigue. Theories for the research framework were based on the theory of planned behavior, the theory of private information protection, the theory of flow, and the theory of process incentives. As a result of data analysis, it was found that self-efficacy, user habits, and flow experience positively influence the intensity of mobile social media use. This study assumed that personal information protection issues negatively affect the intensity of mobile social media use, but have little influence on the use intensity. The intensity of media use had a positive effect on media fatigue. In other words, when the intensity of using mobile social media increased, the feeling of fatigue increased. The expected process incentives variable did not show a moderating effect between media use intensity and social media fatigue. The findings will have implications for social media-related companies and organizations that want to use social media tools for business and public services.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.3
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• pp.23-34
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• 2018

Due to a waste of energy in korea, about 525,000 which are 75 percent of total buildings are at least 15 years old buildings that need remodeling. There are two current remodeling systems. One is a remodeling system to reduce a waste of resources from the reconstruction. The other is a green-remodeling system aimed to energy savings and reducing environmental costs. This study is to analyze quantitatively these current systems with respect to the cost-benefit caused by the life cycle and suggests the political and institutional implications through the interpretation of the results. For a quantitative analysis, we analyzed reducing maintenance costs and rent benefits with simulation by using opportunity costs, construction costs, plan costs and supervision costs as expense variables and using the reduced floor area ratio, institutional incentives, energy, water resources and certified emission reduction(CER) as benefit variables. As a result of the empirical study, the green-modeling was more beneficial in the field of environment such as the energy savings, however, the final benefits of remodeling which has no green building certification costs but more floor area ratio incentives were more economical. The green-remodeling system focused on reducing environmental costs and energy savings needs a equatable institutional incentive system.

• Journal of the Korean Institute of Rural Architecture
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• v.25 no.1
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• pp.1-8
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• 2023

This is a case study of private sector's development of long-term unexecuted urban parks in Pohang through a special act, which provides a guideline of 30% of land for non-park while 70% of land for park. The strategy has a lot of validity in many respects along with the urban planning sunset system, but even with the special act it would not easy to be implemented in Pohang, where the guideline has been modified to 20% for non-park, mostly multi-family housing projects while 80% for park. Thus, participation of private companies would be discouraged due to low commercial validity. Also, there would exist various risks because the project would be completed through a long-term decision-making and execution process. Thus, this study argues that it would be better for Pohang to follow the original guideline of the government for better implementation of the projects, along with preparation of a law with which the government be able to recoup excess profits when too much profits would be given to private developers. For the project implemented smoothly, it is also important to understand local housing market and fluctuating economic conditions, and to prepare various incentives for private companies. In addition, to secure publicity, guidelines on the level of publicity of the project should be prepared through negotiation by parties to prevent the project being discouraged too much.

• Journal of Korea Trade
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• v.27 no.4
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• pp.77-100
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• 2023

Purpose - Using the Model of Goal-Directed Behavior (MGB), this study identifies the critical factors that influence consumer intention to purchase an electric vehicle (EV). This study also provides differentiated policy implications to the Korean and Chinese governments and EV-related companies for the expansion of the EV market in both countries by comparing consumers' perceptions of EV purchase intentions. Design/methodology - Our extended MGB model adds to the standard model consideration of financial incentives, perceived risks, and environmental concerns. An online survey was conducted of Korean and Chinese consumers. Based on the collected responses, all tested hypotheses were verified using PLS-SEM (Partial Least Squares-Structural Equation Modeling). Differences in the path analysis results between Korea and China were compared and verified using Henseler's MGA (multi-group analysis), the parametric test, and the Welch-Satterthwaite test. Findings - The most critical factor that influences the intent to purchase an EV in consumers from both countries is personal desire. PBC and SN were identified as the critical factors that respectively increase personal desire in Korea and China. In addition, in Korea, among the three factors EC, FIP, and PR, environmental concerns were found to have the most significant impact on attitudes and purchase intention. In contrast, in China, economic factors (specifically financial incentives) had greater importance than environmental issues. Originality/value - This study has academic contributions in that it presents a new research model that includes financial incentive policies, environmental concerns, and perceived risk variables based on the MGB to explore consumers' purchase intentions. This study can also make a practical contribution in that it provides some meaningful implications to the governments and EV-related companies of both countries based on the differences in the analysis results of the Korean and Chinese markets.

• Journal of Distribution Science
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• v.21 no.7
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• pp.51-63
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• 2023

Housing is not only a basic requirement, but also a method to maintain stability and improve living. In the period of rapid social development which has a significant impact on the aging population, the housing issue is an impediment to Gen Y in Asia. Therefore, solving the housing conundrum is the most effective solution to other social problems. Purpose: This research is conducted to investigate factors influencing housing-option decisions of Gen Y and proposes recommendations to them as well as Governments and the real estate investors. Research design, data, and methodology: The Theory of Planned Behavior was employed with the expanded variables (Financial status, Location, Public services and Government incentives) based on literature review. Results: With 445 valid responses, almost all proposed hypotheses are accepted, which supports the positive interrelationship among variables. In the stage of data processing, we have determined the influence of each factor to the dependent variable "Actual Behavior", thereby helping real estate investors understand their desires, as well as improve the ability to meet customer needs. Conclusion: This is the basis to determine the influence of these factors, thereby providing recommendations to customers and what is more, giving real estate enterprises an insight of customers' demand in order to improve product quality and optimize the benefits of each party.