• Title/Summary/Keyword: Information asymmetry

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Emotional and Behavioral characteristics of Early Childhood comparing Alpha wave and Beta wave Asymmetry at Prefrontal Lobe and with BIS/BAS (전전두엽 알파(α)파·베타(β)파 비대칭과 BIS/BAS에 기초한 유아들의 정서·행동 특성)

  • Lim, Hyun-Soon;Chae, Myung-Shin;Park, Pyong-Woon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.12 no.6
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    • pp.2588-2597
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    • 2011
  • The EEG asymmetry of prefrontal lobe has been researched to analyze the affect such as depression or anxiety and the behavioral characteristics such as BIS(Behavioral Inhibition System)/BAS(Behavioral Activational System) on the basiss of alpha band. However there has been several proposals about the importance of beta asymmetry pointing out the limitation of alpha asymmetry. Here, for 44 numbers of 4-year-old children, by comparing alpha asymmetry and beta asymmetry with BIS/BAS results respectively, we propose the way to classify the characteristics of affect and behavioral trend. We also found that BIS is related with beta-asymmetry, while BAS is related with alpha-asymmetry. As for the affective trait, we use the alpha asymmetry following the other results. Our results seem to be consistent with the other results that the synapse formation of young children is more active at the hemisphere than the right hemisphere.

Examining the way of presenting reliable information on web page

  • Sohn, Jin-Hun;Lee, Jeong-Mi;Lee, Kyung-Hwa
    • Proceedings of the Korean Society for Emotion and Sensibility Conference
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    • 2001.05a
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    • pp.231-238
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    • 2001
  • Frontal (F3, F4) EEG responses were analyzed and compared during exposure too slides of International Affective Picture System (IAPS) in the study on 42 students. EEG responses during 20 s of exposure to slides intended to elicit happiness (nurturant and erotic), sadness, disgust, surprise, fear or anger emotions were quite similar and were exhibited in theta increase, alpha-blocking and increased beta activity, and frontal asymmetry. However, particular emotions demonstrated variations of the EEG response profiles, enabling to differentiate some pairs of emotions. The profiles showed higher magnitudes of EEG responses in exciting (i.e., erotic happiness) emotion. The most different pairs were exciting -sadness (theta, alpha and alpha asymmetry), exciting-surprise (theta, alpha asymmetry), and exciting-fear (theta, F3 alpha, alpha asymmetry). Nurturant happiness yielded the least differentiation. Differences were found as well within negative emotions, e.g., anger-sadness were differentiated by theta asymmetry, while disgust-fear by beta asymmetry. Obtained results suggest that magnitudes of profiles of EEG variables differentiate emotions elicited by affective pictures.

Analysis of the Supervision of Ecological Subsidies: Based on the Principal-agent Model

  • Zhang, Yuesheng
    • Environmental Engineering Research
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    • v.19 no.4
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    • pp.369-373
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    • 2014
  • In view of the problem of the invalidity of the incentive mechanism of the ecological subsidies, which is due to the information asymmetry between the government's supervision and the enterprise endeavor to fulfill their ecological responsibilities, this paper attempts to analyze the supervision of ecological subsidies based on the Principal-agent Model. Two conclusions are drawn: firstly, the government's supervision regarding the effect of the enterprises' fulfilling the ecological responsibilities can significantly reduce the information asymmetry; secondly, the government's incentive strength and the enterprises' endeavor level of fulfilling the ecological responsibilities are both improving the surveillance dynamics. Here is the suggestion: with the increasing of the surveillance dynamics of the government and the transparency of the enterprises' fulfilling the ecological responsibilities, the government should meanwhile increase the subsidies incentive strength, therefore, to promote the effort level of the enterprises' fulfilling the ecological responsibilities to approach to the Pareto optimal value.

EEG Asymmetry Changes by the Left and the Right SMR Brainwave of the Computer Learning Versus the Paper and Pencil Learning

  • Kwon, Hyung-Kyu;Cho, Jang-Sik
    • Journal of the Korean Data and Information Science Society
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    • v.18 no.4
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    • pp.1073-1079
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    • 2007
  • The purpose of this study is to present the relationship between the computer learning and the paper and pencil learning through the math learning (simple computation and complex computation) and the cartoon learning and text learning. The canonical correlation and pairwise t-test of the SMR asymmetry brainwaves of the left and the right brain show the brainwaves with the respect to the manner in which they process information during the specified task by identifying the relative activity of the brainwaves of the left and the right brain. SMR brainwave which known as the scientific measure tool for the activity and the function of the neuronal cell were found to predict the level of the awakening to check the readiness of study preparation. Computer education as a medium of the individualized and the repetitive education shows the difference from the paper and the pencil test in the respect of the differences and the relationship of the SMR brainwave of the learning process.

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An Ethical Dilemma and Unethical Behavior of Information Sharing by Information Asymmetry Level (정보비대칭 수준에 따른 정보공유의 윤리적 딜레마와 비윤리적 행동에 관한 연구)

  • Jung, Byoungho
    • Journal of Digital Convergence
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    • v.16 no.7
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    • pp.131-144
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    • 2018
  • The purpose of this study is to empirically examine the unethical information sharing by information asymmetry. I will confirm the effect of ethical dilemma, unethical intention and behavior by the information asymmetry. A research method used the structural equations. The analysis showed causal relationship that ethical dilemma and unethical intention and behaviors by the information sharing. In particular, The ethical dilemma by position level showed different from the factor between dilemma and intention. As a result, the organization should manage differently ethical issue according to position level. The contribution in this study has expended an interpretation scope of broken windows theory from social science and explained a discriminative management of the ethical dilemma by position level from the practical view. A Future study should investigate an unethical behavior reduce by information security systems.

3-Dimensional analysis for class III malocclusion patients with facial asymmetry

  • Kim, Eun-Ja;Ki, Eun-Jung;Cheon, Hae-Myung;Choi, Eun-Joo;Kwon, Kyung-Hwan
    • Journal of the Korean Association of Oral and Maxillofacial Surgeons
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    • v.39 no.4
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    • pp.168-174
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    • 2013
  • Objectives: The aim of this study is to investigate the correlation between 2-dimensional (2D) cephalometric measurement and 3-dimensional (3D) cone beam computed tomography (CBCT) measurement, and to evaluate the availability of 3D analysis for asymmetry patients. Materials and Methods: A total of Twenty-seven patients were evaluated for facial asymmetry by photograph and cephalometric radiograph, and CBCT. The 14 measurements values were evaluated and those for 2D and 3D were compared. The patients were classified into two groups. Patients in group 1 were evaluated for symmetry in the middle 1/3 of the face and asymmetry in the lower 1/3 of the face, and those in group 2 for asymmetry of both the middle and lower 1/3 of the face. Results: In group 1, significant differences were observed in nine values out of 14 values. Values included three from anteroposterior cephalometric radiograph measurement values (cant and both body height) and six from lateral cephalometric radiographs (both ramus length, both lateral ramal inclination, and both gonial angles). In group 2, comparison between 2D and 3D showed significant difference in 10 factors. Values included four from anteroposterior cephalometric radiograph measurement values (both maxillary height, both body height) and six from lateral cephalometric radiographs (both ramus length, both lateral ramal inclination, and both gonial angles). Conclusion: Information from 2D analysis was inaccurate in several measurements. Therefore, in asymmetry patients, 3D analysis is useful in diagnosis of asymmetry.

The working experience of internal control personnel and crash risk

  • RYU, Hae-Young;CHAE, Soo-Joon
    • The Journal of Industrial Distribution & Business
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    • v.10 no.12
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    • pp.35-42
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    • 2019
  • Purpose : This study examines The impact of human resource investment in internal control on stock price crash risk. Effective internal control ensures that information provided is complete and accurate, financial statements are reliable. By overseeing management, internal control systems can reduce agency costs between management and outside parties. In Korea, firms have to disclose information about internal control systems. The working experience of human resources in internal control systems is also provided for interested parties. If a firm hires more experienced internal control personnel, it can better facilitate the disclosure of information. Prior studies reported that information asymmetry between managers and investors increases future stock price crash risk. Therefore, the longer working experience internal control personnel have, the lower probability stock crashes have. Research design, data and methodology : This study analyzed the association between the working experience of internal control personnel and crash risk using regression analysis on KOSPI listed companies for fiscal years 2016 through 2017. The sample consists of 1,034 firm-years of non-financial firms whose fiscal year end on December 31. Career spanning data of internal control personnel was collected from internal control reports. The professionalism(IC_EXP) was measured as the logarithm of the average working experience of internal control personnel in months. Negative conditional skewness(NSKEW) and down-to-up volatility (DUVOL) are used to measure firm-specific crash risk. Both measures are based on firm-specific weekly returns derived from the expanded market model. Results : We find that work experience in internal control environment is negatively related to stock price crashes. Specifically, skewness(NSKEW) and volatility (DUVOL) are reduced when firms have longer tenure of human resources in internal control division. The results imply that firms with experienced internal control personnel are less likely to experience stock price crashes. Conclusions : Stock price crashes occur when investors realize that stock prices have been inflated due to information asymmetry. There is a learning effect when internal control processes are done repetitively. Thus, firms with more experienced internal control personnel could manage their internal control more effectively. The results of this study suggest that firms could decrease information asymmetry by investing in human resources for their internal control system.

A Study on the Firm Performance Following the Resolution of Investors Information Asymmetry in the Globalized Financial Market (글로벌금융시대의 투자자 정보불균형 해소에 따른 기업성과에 대한 연구 -국내외 기업의 IR공시가 주가에 미치는 영향을 중심으로-)

  • Kim, Kyu-Hyong;Park, Sa-Ngan
    • International Commerce and Information Review
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    • v.7 no.4
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    • pp.325-349
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    • 2005
  • One aspect of the globalization of the financial market after the 1980s is represented by the concurrent monetarization of the national stock markets. As the IR activity is regarded as a new financial productivity measure, the IR activity in the stock market is being emphasized domestically and internationally. This study analyzes domestic IR activities and compares them with foreign IR activities. Specifically the "road show", a typical IR activity, which is known to resolve the information asymmetry between the firm and the investors is analyzed to see the extent of the their value increase impact on the firm. The study employs domestic and international firms that publicly announced "road shows" after April 2004. Event studies are done to see the existence of abnormal return after the public announcement of road shows. Domestic firms were found to have positive IR impacts on the stock prices, but international firms were found to have negative IR impacts on the stock prices. Also it was found that international public announcement of the road show have stronger positive impact on the stock price than domestic public announcement. The investigation of the statistically significant difference of CAR before and after the fair public announcement enforcement rule showed that the positive CAR impact is strengthened after the adoption of the rule. The conclusion is that increase of the firm value after the road show implies that the information asymmetry is reduced by the active IR actions on the firm side. The policy implication is that we have to reassure the understanding of the role of the IR activities. Specifically Korean firms may have to encourage IR activities to share the information of the firms with the investors, which may result in the trustworthy relationship between the firms and investors.

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Corporate Social Responsibility and Information Asymmetry in the Korean Market: Implications of Chaebol Affiliates

  • Yoon, Bohyun;Lee, Jeong-Hwan
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.1
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    • pp.21-31
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    • 2019
  • This paper examines how corporate social responsibility is related to the degree of asymmetric information in the Korean financial market. Recent theory argues that there is a negative relationship between a firm's corporate social responsibility and its information asymmetry. To test this hypothesis, we use the environment, social and governance (ESG) score, published by the Korean Corporate Governance Service, to proxy a firm's management practices toward socially responsible activities. In the entire sample of the Korean firms, we find contrasting results; the ESG score shows negative relationships with the price impact measure but statistically insignificant relationships with the dispersion of analyst forecasts. However, the ESG score shows negative relationships with both measures when we exclude chaebol affiliates from the sample. These findings are robust when we examine environmental, social and corporate governance scores separately. This set of results argues for the extant theory, expecting a negative relationship between a firm's engagement in corporate social responsibility and asymmetric information. It further argues for the importance of firm characteristics in determining the influence of socially responsible activities.

R&D Intensity and Regulation Fair Disclosure

  • Park, Jin-Ha;Shim, Hoshik
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.1
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    • pp.281-288
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    • 2019
  • This study examines the relationship between R&D intensity and disclosure. R&D activities are essential in bringing innovation to companies. However, R&D activities are naturally uncertain and increase information asymmetry. Thus, firms with high R&D activities are more likely to have the incentive to communicate the potential of R&D investment to the market through voluntary disclosure and, concurrently, resolve information asymmetry. Meanwhile, incentives to less voluntary disclosure exist because of the proprietary cost and the risk of competitiveness loss. Furthermore, the uncertainties inherent in R&D activities caused the possible decrease in the information accuracy. For the two opposing views, this study investigates the relationship between R&D intensity and disclosure frequency using the Regulation Fair Disclosure data in Korea. Moreover, the relationship between R&D intensity and usefulness of the information disclosed is also examined. Using firm sample listed in the 2011-2016 Korea Stock Market, results show that firms with high R&D intensity make disclosures more frequent. Subsequently, the analysis using forecast sample shows that management forecast error is higher in firms with high R&D intensity. This research contributes to the existing literature by presenting evidence that R&D intensity is a significant factor affecting manager's disclosure behavior and information usefulness.