• Title/Summary/Keyword: Interests

Search Result 4,042, Processing Time 0.034 seconds

Do Conflicts in the Interest of a Securities Firm Running Asset Management Businesses Effect an IPO Underpricing?

  • CHOI, Byoung-Il
    • The Journal of Industrial Distribution & Business
    • /
    • v.13 no.2
    • /
    • pp.45-57
    • /
    • 2022
  • Purpose: This paper examines whether or not universal banking operating in the asset management business tend to IPO underpricing when they are hosting IPOs in favor of their private interests. Previous studies suggest evidence which indicates that the universal banking operating in the asset management business tend to underestimate offering prices. This paper compares and analyzes the data before and after June 2007 to examine the influence of put-back option on IPO underpricing. Research design, data, and methodology: This paper compares the underwritten prices of IPOs of universal banking with and without asset management business in Korea in order to test such tendency actually exists. Result: We can find that such tendency is not correlated with first-day stock returns but correlated with put-back options. Our paper concludes that the hypothesis that "the universal banking's subsidiary asset management business influences the IPO underpricing" is found to be statistically insignificant. Conclusion: According to our analysis, it cannot be concluded that the interests of operating asset management do not conflict with the ones of underwriting business. However, it is so possible that the asset management companies try to harm the customers' interests, for instances churning and stuffing, it is necessary to scrutinize their behaviors and review the related regulations.

The Effects of Agents' Competing Interests on Corporate Cash Policy and Cash Holdings Adjustment Speed: The Distribution and Service Industries

  • RYU, Haeyoung;CHAE, Soo-Joon
    • Journal of Distribution Science
    • /
    • v.20 no.3
    • /
    • pp.53-58
    • /
    • 2022
  • Purpose: Controlling and minority shareholders sometimes have conflicting interests. Controlling shareholders who do not have adequate monitoring can exhibit a strong tendency to maximize their personal wealth. In this case, cash holdings can be the easiest means for them to pursue their personal interests. This study examined whether the largest shareholder's ownership proportion affected the speed at which firms adjust their cash holdings to target levels in Korean distribution and service companies. Research design, data, and methodology: The study uses regression analysis to examine 834 firm-year samples listed on the KOSPI between 2013 and 2018 in the distribution and service sectors. Results: The largest shareholder's ownership is positively related to a firm's cash holdings adjustment speed. That is, the larger the largest shareholder's ownership, the faster the firm adjusts its cash holdings to achieve the target level. Conclusions: This study contributes to the literature by providing evidence that the cash holdings adjustment speed in Korean service and distribution companies is affected by the largest shareholder's ownership. As the agency problem between controlling and minority shareholders in Korea is a major issue, minority owners' sensitivity to agency costs may help restrict controlling owners' ability to maximize their personal wealth.

Conflicts of Interest in Research and Clinical Practice (연구 및 진료에서의 이해상충)

  • Ji Hoon Shin
    • Journal of the Korean Society of Radiology
    • /
    • v.83 no.4
    • /
    • pp.771-775
    • /
    • 2022
  • Recently, doctors and researchers are establishing relationships with interested parties from companies, research institutes, health care institutions, and academic journals, instead of conducting independent medical care or research work. They may have multiple interests as an advisor or a shareholder in the relevant company. Such a situation can foster a conflict of interest when their interests influence one's decision or judgment. Conflict of interest is an extremely important issue because it can infringe the integrity of research, endanger subjects or patients, pose a risk to the public, and deteriorate public perception of science. This brief review explores the definition, examples, and solutions to conflict of interest.

Examining Bandwagon Effects on the Adoption of Kiosks for the Restaurant Owners (외식업체의 무인주문결제 키오스크 도입 의도 : 프랜차이즈 마케팅과 밴드왜건 효과)

  • Sung Wook KIM;Sungsoo Hwang
    • The Korean Journal of Franchise Management
    • /
    • v.15 no.1
    • /
    • pp.11-27
    • /
    • 2024
  • Purpose: This study empirically examines the bandwagon effects on the adoption of Kiosks for the restaurants' owners. Utilizing Davis (1989)'s Technology Acceptance Model as a framework, this study contributes to the literature by adding a bandwagon effect variable. Bandwagon effect has been studied extensively on the consumer marketing domain in terms of end-user behavior, but not on the business owners' willingness to invest on the new technology. Research design, data, and methodology: Davis (1989)' Technology Acceptance Model with added a bandwagon effect variable was set as a theoretical model. Data was collected via survey instrument from restaurants' owners who purchased or are considering a Kiosk. Structural Equation Modeling was used to empirically test the proposed model. Results: Results show that bandwagon effect is indirectly affecting to the adoption of Kiosks via perceived usefulness, trustworthiness, and interests. The bandwagon effects are NOT directly affecting the adoption of Kiosks. Conclusion: The findings suggest that buyers of Kiosks as storeowners (not end users) consider buying them after storeowners check perceived interests and trustworthiness from others. Thus, there could be a practical implication that it is important to illustrate perceived interests for the business to the storeowners when marketing new technology.

An analysis of the Health Interests of rural middle school students. - Development of health education content in Soo - Dong school - (일부농촌 중학생의 건강흥미분석 -수동중학교 건강교육 내용개발을 중심으로-)

  • 신공범;이광자
    • Journal of Korean Academy of Nursing
    • /
    • v.10 no.1
    • /
    • pp.21-27
    • /
    • 1980
  • The purpose of this study was undertaken to determine the health interests by middle school students in Soo-Dong Myun. It was planned that this data would help nursing help students who is under the community health nursing pratice in Soo-Dong, and development of health education programmes. The instrument used which was orginially the Health Interest Inventory by Ramsdell, was modified. This study involed 358 students ranging from 1 st year to 3 rd year and was carried out from September 1 to 30, 1979. The results obtained as follows ; 1. Comparing students health interests by grade, there was a high interested areas were$\ulcorner$Dental health$\lrcorner$,$\ulcorner$Mental health$\lrcorner$, and$\ulcorner$Alcohol, drugs and smoking$\lrcorner$On the other hand the least interested areas were$\ulcorner$Family health$\lrcorner$and$\ulcorner$weight control$\lrcorner$There was a difference between 2 nd and 3 rd year by grade mean score. In the health areas, all grade students are interested in$\ulcorner$Nutrition$\lrcorner$.$\ulcorner$control & preventive disease$\lrcorner$and$\ulcorner$consumer health$\lrcorner$. 2. Comparing students health interests by sex. the tank order of health interests was similar to both sex, The most interested areas were$\ulcorner$Mental Health$\lrcorner$,$\ulcorner$Dental health$\lrcorner$. and$\ulcorner$Alcohol, drugs, and smoking$\lrcorner$. The least interested areas were$\ulcorner$Family health$\lrcorner$and$\ulcorner$weight control$\lrcorner$. There was no sinificant difference by sex. But in the health areas. girls are interested in$\ulcorner$Nutrition$\lrcorner$and$\ulcorner$Control and preventive disease$\lrcorner$. and boys are interested in the$\ulcorner$Safety education$\lrcorner$. 3. There was a highest correlation between$\ulcorner$Family health$\lrcorner$area and$\ulcorner$personal grooming$\lrcorner$, the lorvest correlation between$\ulcorner$consumer health$\lrcorner$area and the combined $\ulcorner$Family health$\lrcorner$and$\ulcorner$Weight control$\lrcorner$.

  • PDF

Students' Perceptions about High School Chemistry I, II (고등학교 화학 I, II 수업에 대한 학생의 인식 조사)

  • Park, HyunJu;Lim, HeeJun
    • Journal of the Korean Chemical Society
    • /
    • v.61 no.6
    • /
    • pp.369-377
    • /
    • 2017
  • The purpose of this study was to investigate high school students' perceptions on chemistry subjects: reasons for choosing chemistry, learning volume and content difficulty, interests, teaching/learning methods, preferable classes etc. A total of 1,087 students who took chemistry subjects at 126 high schools by proportional stratified sampling were voluntarily participated in the survey. The main reasons the students chose chemistry subjects were interests and interests in chemistry, foundation to science, relevance to college majors, and so on. Students recognized that the learning volume and content difficulty as normal level was about 60%. Reasons why chemistry was difficult was that, although there was a difference in degree, chemistry was difficult in itself and had too much things to memorize. In the case of interests in chemistry subjects, students of 43.9% of Chemistry I and 52.0% of Chemistry II recognized the level as normal. The reason why not interested in chemistry subjects was that it was the nature of chemistry contents, or students had neither interests and enjoyment of chemistry nor foundation for chemistry. Classes were mostly lectures but the students preferred mainly experimental activities, or explanation with real-life examples or science stories. The frequency of experimental activities was found to be 1 to 5 times per semester, or not experimented. Research and efforts will be necessary to improve classes and environments for students' experimental activities.

A Study of Domain Name Disputes Resolution with the Korea-U.S. FTA Agreement (한미자유무역협정(FTA)에 따른 도메인이름 분쟁해결의 개선방안에 관한 연구)

  • Park, Yu-Sun
    • Journal of Arbitration Studies
    • /
    • v.17 no.2
    • /
    • pp.167-187
    • /
    • 2007
  • As Korea has reached a free trade agreement with the United States of America, it is required to provide an appropriate procedure to ".kr" domain name disputes based on the principles established in the Uniform Domain Name Dispute Resolution Policy(UDRP). Currently, Internet address Dispute Resolution Committee(IDRC) established under Article 16 of the Act on Internet Address Resources provides the dispute resolution proceedings to resolve ".kr" domain name disputes. While the IDRC's proceeding is similar to the UDRP administrative proceeding in procedural aspects, the Domain Name Dispute Mediation Policy that is established by the IDRC and that applies to disputes involving ".kr" domain names is very different from the UDRP for generic Top Level Domain (gTLD) in substantial aspects. Under the Korea-U.S. Free Trade Agreement(KORUS FTA), it is expected that either the Domain Name Dispute Mediation Policy to be amended to adopt the UDRP or the IDRC to examine the Domain Name Dispute Mediation Policy in order to harmonize it with the principles established in the UDRP. It is a common practice of cybersquatters to warehouse a number of domain names without any active use of these domain names after their registration. The Domain Name Dispute Mediation Policy provides that the complainant may request to transfer or delete the registration of the disputed domain name if the registrant registered, holds or uses the disputed domain name in bad faith. This provision lifts the complainant's burden of proof to show the respondent's bad faith because the complainant is only required to prove one of the three bad faiths which are registration in bad faith, holding in bad faith, or use in bad faith. The aforementioned resolution procedure is different from the UDRP regime which requires the complainant, in compliance with paragraph 4(b) of the UDRP, to prove that the disputed domain name has been registered in bad faith and is being used in bad faith. Therefore, the complainant carries heavy burden of proof under the UDRP. The IDRC should deny the complaint if the respondent has legitimate rights or interests in the domain names. Under the UDRP, the complainant must show that the respondent has no rights or legitimate interests in the disputed domain name. The UDRP sets out three illustrative circumstances, any one of which if proved by the respondent, shall be evidence of the respondent's rights to or legitimate interests in the domain name. As the Domain Name Dispute Mediation Policy provides only a general provision regarding the respondent's legitimate rights or interests, the respondent can be placed in a very week foundation to be protected under the Policy. It is therefore recommended for the IDRC to adopt the three UDRP circumstances to guide how the respondent can demonstrate his/her legitimate rights or interests in the disputed domain name. In accordance with the KORUS FTA, the Korean Government is required to provide online publication to a reliable and accurate database of contact information concerning domain name registrants. Cybersquatters often provide inaccurate contact information or willfully conceal their identity to avoid objection by trademark owners. It may cause unnecessary and unwarranted delay of the administrative proceedings. The respondent may loss the opportunity to assert his/her rights or legitimate interests in the domain name due to inability to submit the response effectively and timely. The respondent could breach a registration agreement with a registrar which requires the registrant to submit and update accurate contact information. The respondent who is reluctant to disclose his/her contact information on the Internet citing for privacy rights and protection. This is however debatable as the respondent may use the proxy registration service provided by the registrar to protect the respondent's privacy.

  • PDF

Improving Performance of Recommendation Systems Using Topic Modeling (사용자 관심 이슈 분석을 통한 추천시스템 성능 향상 방안)

  • Choi, Seongi;Hyun, Yoonjin;Kim, Namgyu
    • Journal of Intelligence and Information Systems
    • /
    • v.21 no.3
    • /
    • pp.101-116
    • /
    • 2015
  • Recently, due to the development of smart devices and social media, vast amounts of information with the various forms were accumulated. Particularly, considerable research efforts are being directed towards analyzing unstructured big data to resolve various social problems. Accordingly, focus of data-driven decision-making is being moved from structured data analysis to unstructured one. Also, in the field of recommendation system, which is the typical area of data-driven decision-making, the need of using unstructured data has been steadily increased to improve system performance. Approaches to improve the performance of recommendation systems can be found in two aspects- improving algorithms and acquiring useful data with high quality. Traditionally, most efforts to improve the performance of recommendation system were made by the former approach, while the latter approach has not attracted much attention relatively. In this sense, efforts to utilize unstructured data from variable sources are very timely and necessary. Particularly, as the interests of users are directly connected with their needs, identifying the interests of the user through unstructured big data analysis can be a crew for improving performance of recommendation systems. In this sense, this study proposes the methodology of improving recommendation system by measuring interests of the user. Specially, this study proposes the method to quantify interests of the user by analyzing user's internet usage patterns, and to predict user's repurchase based upon the discovered preferences. There are two important modules in this study. The first module predicts repurchase probability of each category through analyzing users' purchase history. We include the first module to our research scope for comparing the accuracy of traditional purchase-based prediction model to our new model presented in the second module. This procedure extracts purchase history of users. The core part of our methodology is in the second module. This module extracts users' interests by analyzing news articles the users have read. The second module constructs a correspondence matrix between topics and news articles by performing topic modeling on real world news articles. And then, the module analyzes users' news access patterns and then constructs a correspondence matrix between articles and users. After that, by merging the results of the previous processes in the second module, we can obtain a correspondence matrix between users and topics. This matrix describes users' interests in a structured manner. Finally, by using the matrix, the second module builds a model for predicting repurchase probability of each category. In this paper, we also provide experimental results of our performance evaluation. The outline of data used our experiments is as follows. We acquired web transaction data of 5,000 panels from a company that is specialized to analyzing ranks of internet sites. At first we extracted 15,000 URLs of news articles published from July 2012 to June 2013 from the original data and we crawled main contents of the news articles. After that we selected 2,615 users who have read at least one of the extracted news articles. Among the 2,615 users, we discovered that the number of target users who purchase at least one items from our target shopping mall 'G' is 359. In the experiments, we analyzed purchase history and news access records of the 359 internet users. From the performance evaluation, we found that our prediction model using both users' interests and purchase history outperforms a prediction model using only users' purchase history from a view point of misclassification ratio. In detail, our model outperformed the traditional one in appliance, beauty, computer, culture, digital, fashion, and sports categories when artificial neural network based models were used. Similarly, our model outperformed the traditional one in beauty, computer, digital, fashion, food, and furniture categories when decision tree based models were used although the improvement is very small.