• International Area Studies Review
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• v.21 no.1
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• pp.25-57
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• 2017

In this study, we analyzed the information asymmetry and the agency problem in major affiliated companies on the basis of the R&D investment. As a result of comparing how the R&D investment effects on major affiliated companies and the independent companies, even the achievement of R&D investment effects in a positive way to the firm value, the positive effect appears much lower on major affiliated companies comparing independent companies. In order to analyze the case, we investigated in a separate way according to the shareholding ratio and the affiliated market using the sample of the independent company and the group affiliated company. As a result of such analysis, the cause of this comes from the agency problem in major affiliated company, not the asymmetry information of affiliated company. After we analyzed the sample of the research depending on the affiliation market, we could observe there is a little impact of the asymmetry information in the outcome of the R&D investment of the major affiliated companies. In contrast, the companies which rated lower in the ratio of the shareholding appears much less in the positive effect of R&D investment compared to the companies which rated at a higher level. This phenomenon was also consistently observed when changing the research method or further subdividing the sample of companies belonging to the group based on the ownership share of major shareholders.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.49 no.10
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• pp.473-478
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• 2000

A more reliable algorithm for detecting a high impedance fault (HIF) requires voltage and current at the relaying point containing information of HIF characteristics including buildup/shoulder as well as nonlinearity/asymmetry. This paper presents a modeling method of an HIF in a distribution system. In order to do this, the proposed method uses two series time-varying resistances (TVRs) controlled by Transient Analysis of Control Systems (TACS) in EMTP. One TVR is employed for nonlinearity/asymmetry and then the other TVR for buildup/shoulder. The proposed method is implemented in EMTP and thus the voltage and current at the relaying point can be obtained.

• JSTS:Journal of Semiconductor Technology and Science
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• v.13 no.6
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• pp.576-580
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• 2013

We investigate the enhanced effects of asymmetry ratio variations of the source and drain area in silicon (Si) field-effect transistor (FET). Photoresponse according to the variation of asymmetry difference between the width of source and drain are obtained by using the plasmonic terahertz (THz) wave detector simulation based on technology computer-aided design (TCAD) with the quasi-plasma 2DEG model. The simulation results demonstrate the potential of Si FETs with asymmetric source and drain structures as the promising plasmonic THz detectors.

• Journal of The Korean Astronomical Society
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• v.56 no.1
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• pp.125-135
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• 2023

Here, we investigated the observed sunspot areas with respect to latitudes using the Hilbert transform technique. Conventional study of the cyclic patterns of sunspots is based on the Lomb-Scargle periodogram, which only obtains the amplitude information. In comparison, our approach characterizes the amplitude as well as the phase of solar activity. We demonstrated the solar North-South asymmetry in the instantaneous amplitude by analyzing daily sunspot data set spanning from the solar cycles 11 to 24. Our findings confirm that the northern hemisphere is dominant in the solar cycles 14, 15, 16, 18, and 20. Unlike the amplitude, the North-South asymmetry in the period of solar activity could not be established. We have also found that the standard deviation as a measure of fluctuation in the phase derivative is minimum in the latitude band 10° < l < 20°, and the fluctuations obtained for latitudes above 30° are considerable.

• Korean Business Review
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• v.10
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• pp.23-33
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• 1997

• Management & Information Systems Review
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• v.35 no.4
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• pp.213-227
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• 2016

This study examines the effects of managerial ability on information asymmetry. We use analyst forecast errors as a proxy for information asymmetry, because analysts are referred to as efficient users using firm-level data. The sample consists of 2,246 non-banking firm-years listed in Korea Stock Exchange(KOSPI) during the period 2000 to 2013. We measure managerial ability using DEA(Data Envelopment Analysis) following Demerjian et al.(2012). Using those measures, we examines the effects of managerial ability on analysts' earnings forecast errors and analysts' earnings forecast bias. The results of this study are as follows. First, we find that managerial ability are positively associated with analysts' earnings forecast accuracy. Second, we show that the firms with higher managerial ability tend to have lower the optimistic errors in analysts' earnings forecasts. This study could be useful for outside stakeholders to understand the importance of managerial ability.

• Journal of Distribution Science
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• v.17 no.2
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• pp.5-11
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• 2019

Purpose - This paper examines how corporate social responsibility of the Korean retail industry affects the degree of asymmetric information. Recent theories predict that a firm's active engagement in socially responsible activities lowers the degree of asymmetric information of the firm. Research design, data, and methodology - This paper uses the sum of environmental and social scores (ES), published by the Korean Corporate Governance Service in order to proxy the degree of socially responsible management practices of Korean retail firms. This paper uses the ordinary least square method to investigate the above predictions. The publicly traded Korea retail firms listed in the Korean Exchange are analyzed from 2011 to 2016. To measure the degree of asymmetric information, this paper adopts the analyst dispersion and price impact measures. Results - This paper shows that the ES score has significantly positive relationships with these two measures of information asymmetry. The environmental score seems to increase the analyst dispersion measure and the social score appears to raise the price impact measure mores significantly. Conclusions - The results do not support the prior theory expecting a negative relationship between corporate social responsibility and the degree of asymmetric information. Environmental and social scores are found to affect the measures of information asymmetry differently.

• Journal of Convergence for Information Technology
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• v.11 no.1
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• pp.80-90
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• 2021

This study examines whether, when, and how sellers with low-quality products can instantly enhance profitability by fully disclosing quality information. Our analytic model has found that a low-quality seller can increase demand even in the short run by voluntarily sharing the information about its quality, if he can sufficiently reduce perceived risk of buyers. Moreover, a low-quality seller's information disclosure may increase both the market's and the competitor's demand, depending on the level of perceived risk. The finding of this study is expected to provide meaningful implications to managers and policy makers on solving market dilemmas under information asymmetry.

• ETRI Journal
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• v.42 no.1
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• pp.138-149
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• 2020

In this paper, we describe a simultaneously transmitted jamming (ST-jamming) for bi-directional in-band full-duplex (IFD) system to improve information security at the physical layer. By exploiting ST-jamming, each legitimate user transmits data samples and jamming samples together in one orthogonal frequency division multiplexing symbol according to given traffic asymmetry. Regardless of the traffic difference in both directions in IFD communication, eavesdropping of confidential information is prevented in both directions simultaneously without the loss of data rate. We first propose an encoding scheme and the corresponding decoding scheme for ST-jamming to be used by the legitimate users. In addition, we study a transceiver structure of the legitimate users including a baseband modem uniquely designed for the use of ST-jamming. The leakage of confidential information at an eavesdropper is then quantified by studying the mutual information between the confidential transmit signals and the received signals of the eavesdropper. Simulation results show that the proposed ST-jamming significantly reduces the leakage of legitimate information at the eavesdropper.

• Journal of the Korea Convergence Society
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• v.10 no.11
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• pp.345-352
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• 2019

This paper examines the opportunistic behavior of corporate insiders and analyzes the relationship between equity change and the possibility of delisting. The findings are summarized as follows. First, the larger the stake reduction of insider, the greater the negative excess return after announcement. In the delisting firm group, there is a significant decrease in equity and statistically significant results in the difference test between the comparative groups. The logistic regression analysis showed that the regression coefficient of equity change was negatively statistically significant, indicating a significant correlation between insider share change and the possibility of delisting. These findings are expected not only to provide useful information for investors, but also to be evidence of capital market information asymmetry.