• Journal of Intelligence and Information Systems
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• v.25 no.4
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• pp.1-33
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• 2019

The small and medium sized enterprises (hereinafter SMEs) are already at a competitive disadvantaged when compared to large companies with more abundant resources. Manufacturing SMEs not only need a lot of information needed for new product development for sustainable growth and survival, but also seek networking to overcome the limitations of resources, but they are faced with limitations due to their size limitations. In a new era in which connectivity increases the complexity and uncertainty of the business environment, SMEs are increasingly urged to find information and solve networking problems. In order to solve these problems, the government funded research institutes plays an important role and duty to solve the information asymmetry problem of SMEs. The purpose of this study is to identify the differentiating characteristics of SMEs that utilize the public information support infrastructure provided by SMEs to enhance the innovation capacity of SMEs, and how they contribute to corporate performance. We argue that we need an infrastructure for providing information support to SMEs as part of this effort to strengthen of the role of government funded institutions; in this study, we specifically identify the target of such a policy and furthermore empirically demonstrate the effects of such policy-based efforts. Our goal is to help establish the strategies for building the information supporting infrastructure. To achieve this purpose, we first classified the characteristics of SMEs that have been found to utilize the information supporting infrastructure provided by government funded institutions. This allows us to verify whether selection bias appears in the analyzed group, which helps us clarify the interpretative limits of our study results. Next, we performed mediator and moderator effect analysis for multiple variables to analyze the process through which the use of information supporting infrastructure led to an improvement in external networking capabilities and resulted in enhancing product competitiveness. This analysis helps identify the key factors we should focus on when offering indirect support to SMEs through the information supporting infrastructure, which in turn helps us more efficiently manage research related to SME supporting policies implemented by government funded institutions. The results of this study showed the following. First, SMEs that used the information supporting infrastructure were found to have a significant difference in size in comparison to domestic R&D SMEs, but on the other hand, there was no significant difference in the cluster analysis that considered various variables. Based on these findings, we confirmed that SMEs that use the information supporting infrastructure are superior in size, and had a relatively higher distribution of companies that transact to a greater degree with large companies, when compared to the SMEs composing the general group of SMEs. Also, we found that companies that already receive support from the information infrastructure have a high concentration of companies that need collaboration with government funded institution. Secondly, among the SMEs that use the information supporting infrastructure, we found that increasing external networking capabilities contributed to enhancing product competitiveness, and while this was no the effect of direct assistance, we also found that indirect contributions were made by increasing the open marketing capabilities: in other words, this was the result of an indirect-only mediator effect. Also, the number of times the company received additional support in this process through mentoring related to information utilization was found to have a mediated moderator effect on improving external networking capabilities and in turn strengthening product competitiveness. The results of this study provide several insights that will help establish policies. KISTI's information support infrastructure may lead to the conclusion that marketing is already well underway, but it intentionally supports groups that enable to achieve good performance. As a result, the government should provide clear priorities whether to support the companies in the underdevelopment or to aid better performance. Through our research, we have identified how public information infrastructure contributes to product competitiveness. Here, we can draw some policy implications. First, the public information support infrastructure should have the capability to enhance the ability to interact with or to find the expert that provides required information. Second, if the utilization of public information support (online) infrastructure is effective, it is not necessary to continuously provide informational mentoring, which is a parallel offline support. Rather, offline support such as mentoring should be used as an appropriate device for abnormal symptom monitoring. Third, it is required that SMEs should improve their ability to utilize, because the effect of enhancing networking capacity through public information support infrastructure and enhancing product competitiveness through such infrastructure appears in most types of companies rather than in specific SMEs.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.24 no.4
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• pp.495-508
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• 2019

Tidal datums are key and basic information used in fields of navigation, coastal structures' design, maritime boundary delimitation and inundation warning. In Korea, the Approximate Lowest Low Water (ALLW) and the Approximate Highest High Water (AHHW) have been used as levels of tidal datums for depth, coastline and vertical clearances in hydrography and coastal engineering fields. However, recently the major maritime countries including USA, Australia and UK have adopted the Lowest Astronomical Tide (LAT) and the Highest Astronomical Tide (HAT) as the tidal datums. In this study, 1-hr interval 19-year sea level records (1999-2017) observed at 9 tidal observation stations along the west and south coasts of Korea were used to calculate LAT and HAT for each station using 1-minute interval 19-year tidal prediction data yielded through three tidal harmonic methods: 19 year vector average of tidal harmonic constants (Vector Average Method, VA), tidal harmonic analysis on 19 years of continuous data (19-year Method, 19Y) and tidal harmonic analysis on one year of data (1-year Method, 1Y). The calculated LAT and HAT values were quantitatively compared with the ALLW and AHHW values, respectively. The main causes of the difference between them were explored. In this study, we used the UTide, which is capable of conducting 19-year record tidal harmonic analysis and 19 year tidal prediction. Application of the three harmonic methods showed that there were relatively small differences (mostly less than ±1 cm) of the values of LAT and HAT calculated from the VA and 19Y methods, revealing that each method can be mutually and effectively used. In contrast, the standard deviations between LATs and HATs calculated from the 1Y and 19Y methods were 3~7 cm. The LAT (HAT) differences between the 1Y and 19Y methods range from -16.4 to 10.7 cm (-8.2 to 14.3 cm), which are relatively large compared to the LAT and HAT differences between the VA and 19Y methods. The LAT (HAT) values are, on average, 33.6 (46.2) cm lower (higher) than those of ALLW (AHHW) along the west and south coast of Korea. It was found that the S_a and N₂ tides significantly contribute to these differences. In the shallow water constituents dominated area, the M₄ and MS₄ tides also remarkably contribute to them. Differences between the LAT and the ALLW are larger than those between the HAT and the AHHW. The asymmetry occurs because the LAT and HAT are calculated from the amplitudes and phase-lags of 67 harmonic constituents whereas the ALLW and AHHW are based only on the amplitudes of the 4 major harmonic constituents.

• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.109-141
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• 2006

The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

• Science of Emotion and Sensibility
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• v.8 no.1
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• pp.47-54
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• 2005

This study is aimed to inspect how the different sensitivities in Behavioral activation system(BAS) and behavioral inhibition system(BIS) modulate on the properties of physiological responses stimulated by positive or negative affective sound. We measured the electroencephalogram(EEG) and electrocardiogram (ECG) of 32 students, consisted of four groups depending on the BAS and BIS sensitivities, during listening to meditation music or noise. The EEG was recorded at Fpl and Fp2 sites and Power spectral density(PSD) of HRV was derived from the ECG, and the power of HRV was calculated for 3 major frequency ranges(low frequency[LF], medium frequency and high frequency[HF]). After listening to music or noise, subjects reported the affect induced by the sound. For EEG, the power in the alpha band at Fp2, especially in the alpha-2 band(9.0-11.0 Hz) increased during the subjects listening to music, while the power at Fpl increased during noise. During listening to meditation music, there is a tendency that the left-sided activation in prefrontal cortex(PFC) is positively correlated with the difference of BAS(Z)-BIS(Z). During listening to noise, there is a tendency that the right-sided activation in PFC is dominant in case any of the sensitivity of BAS or BIS is high. For HRV, we found that the index of MF/(LF+HF), during listening to music, was higher significantly in the individuals with a low BIS but high BAS than in the individuals with a low sensitivity both BIS and BAS individuals. With high BIS, regardless of the BAS sensitivity, the difference of this index values was not significant. From these results we suggest that the physiological responses of different individuals in BAS and BIS react differently under the same emotionally provocative challenge.

• The Journal of Society for e-Business Studies
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• v.26 no.3
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• pp.33-53
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• 2021

In the crossroads of social change caused by the spread of the Fourth Industrial Revolution and the prolonged COVID-19, the Korean government announced the Digital New Deal policy on July 14, 2020. The Digital New Deal policy's primary goal is to create new businesses by accelerating digital transformation in the public sector and industries around data, networks, and artificial intelligence technologies. However, in a rapidly changing social environment, information asymmetry of the future benefits of technology can cause differences in the public's ability to analyze the direction and effectiveness of policies, resulting in uncertainty about the practical effects of policies. On the other hand, the media leads the formation of discourse through communicators' role to disseminate government policies to the public and provides knowledge about specific issues through the news. In other words, as the media coverage of a particular policy increases, the issue concentration increases, which also affects public decision-making. Therefore, the purpose of this study is to verify the dynamic relationship between the media coverage and the stock market on the Korean government's digital New Deal policy using Granger causality, impulse response functions, and variance decomposition analysis. To this end, the daily stock turnover ratio, daily price-earnings ratio, and EWMA volatility of digital technology-based companies related to the digital new deal policy among KOSDAQ listed companies were set as variables. As a result, keyword search volume, daily stock turnover ratio, EWMA volatility have a bi-directional Granger causal relationship with media coverage. And an increase in media coverage has a high impact on keyword search volume on digital new deal policies. Also, the impulse response analysis on media coverage showed a sharp drop in EWMA volatility. The influence gradually increased over time and played a role in mitigating stock market volatility. Based on this study's findings, the amount of media coverage of digital new deals policy has a significant dynamic relationship with the stock market.

• Korean Journal of Heritage: History & Science
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• v.53 no.4
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• pp.118-135
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• 2020

It is not uncommon in Korea to see the structure and function of a garden remain intact as well as its form. Yi Cheon-bo's Historic House (Gyeonggi-do Cultural Heritage Item No. 55), located in Sang-myeon, Gapyeong-gun, Gyeonggi-do, is considered an example of very valuable garden heritage, although its family history, location, and remaining buildings and natural cultural assets are not fully intact. Along with Yi Cheon-bo's Historic House, this study attempted to explore the possibility of restoration of the forest houses and gardens by highlighting the high value of Yi Cheon-bo's Historic House through research into the typical layout of private households in northern Gyeonggi Province and Gapyeong County, comparative review of aerial photographs from 1954, and interviews with those involved. The results of the study are as follows: In this study, the presence of Banggye-dongmun and Bansukam in the Banggyecheon area, where the location of the garden was well-preserved, was examined across the landscape of the outer garden, while the location of Yi Cheon-bo's Historic House, the appearance of feng shui, and the viewing axis were considered. Also, the appearance of the lost main house was inferred from the arrangement and shape of the Sarangchae and Haengrangchae that remain in the original garden, and the asymmetry of the Sarangchae Numaru and the hapgak shape on the side of the roof. In addition, the three tablets (Pyeonaeks) of Sanggodang (尙古堂), Bangyejeongsa (磻溪精舍), and Okgyeongsanbang (玉聲山房) were used to infer the landscape, use, and symbolism of the men's quarters. Also, a survey was conducted on the trees that existed or existed in the high prices. Incidentally, it was confirmed that information on boards and cultural properties of Yeonha-ri juniper (Gyeonggi-do Monument No. 61) was recorded to a much lesser extent than the actual required standard, and the juniper trees remaining in the front of Haengrangchae should also be re-evaluated after speculation. On the other hand, as a result of estimating the original shape as a way of pursuing completeness of the garden through restoration of the lost women's quarters and shrine, it is estimated that the main house was placed in the form of a '口' or a 'be warped 口' on the right (north) side of the men's quarters. By synthesizing these results, a restoration alternative for Yi Cheon-bo's Historic House was suggested.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.4
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• pp.1-20
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• 2023

This study attempted to identify the relationship between the investment determinants of accelerators and investment performance through empirical analysis. Through literature review, four dimensions and 12 measurement items were extracted for investment determinants, which are independent variables, and investment performance was adjusted to the cumulative amount of subsequent investment based on previous studies. Performance data from 594 companies selected by TIPS from 2017 to 2019, which are relatively reliable and easy to secure data, were collected, and the subsequent investment cumulative attraction amount, which is a dependent variable, was hypothesized through multiple regression analysis three years after the investment. As a result of the study, 'industrial experience years' in the characteristics of founders, 'market size', 'market growth', 'competitive strength', and 'number of patents' in the characteristics of products and services had a significant positive (+) effect. The impact of independent variables on dependent variables was most influenced by the competitive strength of market characteristics, followed by the number of years of industrial experience, the number of patents, the size of the market, and market growth. This was different from the results of previous studies conducted mainly on qualitative research methods, and in most previous studies, the characteristics of founders were the most important, but the empirical analysis results were market characteristics. As a sub-factor, the intensity of competition, which was the subordinate to the importance of previous studies, had the greatest influence in empirical analysis. The academic significance of this study is that it presented a specific methodology to collect and build 594 empirical samples in the absence of empirical research on accelerator investment determinants, and created an opportunity to expand the theoretical discussion of investment determinants through causal research. In practice, the information asymmetry and uncertainty of startups that accelerators have can help them make effective investment decisions by establishing a systematic model of experience-dependent investment determinants.