• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.10
• /
• pp.265-275
• /
• 2022

In the current fast-growing market economy, the accounting-outsourcing trend of small and medium-sized enterprises is on the increase. Studies from both foreign and domestic sources have shown that many factors influence this decision. However, each country has different economic and political characteristics, so these factors and their degree of impact on accounting outsourcing also vary. This study aimed to determine the factors affecting the decision to outsource accounting activities of small and medium transport enterprises in Vietnam. A survey of 384 transport SMEs was conducted using the convenience sampling method. A personal interview with owners/managers/CFOs in 3 major cities of Vietnam based on a research review was conducted. The model examines the influence of many independent variables on accounting outsourcing. The multilinear regression analysis shows that the higher the Assets Specificity, the lower the degree of accounting outsourcing. In addition, the degree of outsourcing is positively and significantly related to frequency and trust in accountants. Besides, when we include control variables such as gender, administrative level, firm size, company age, education, and experience into the model. The results show that small and medium enterprises with limited resources should switch from the traditional internal accounting method to a professional accountant with external knowledge. Based on this study, the author proposes several implications for the accounting outsourcing of small and medium-sized transport enterprises in Vietnam to be more effective. Finally, this study also contributes to the basic knowledge of accounting outsourcing.

• New & Renewable Energy
• /
• v.16 no.4
• /
• pp.65-75
• /
• 2020

The value of tangible assets depreciates over their useful life and this depreciation should be adequately reflected in any tax or financial reports. However, the method used to calculate depreciation can impact the financial performance of solar projects due to the time value of money. Korean tax law stipulates only one method for calculating the depreciation of solar photovoltaic facilities: the straight-line method. Conversely, USA's tax law accepts other depreciation methods as solar incentives, including the modified accelerated cost recovery system (MACRS) and Bonus depreciation method. This paper compares different depreciation methods in the financial analysis of a 10 MW solar system to determine their effect on the financial results. When depreciation was calculated utilizing the MACRS and Bonus depreciation method, the internal rate of return (IRR) was 10.9% and 16.4% higher, respectively, than when the Korean straight-line depreciation method was used. Additionally, the increased IRR resulting from the use of the two US methods resulted in a 20.5% and 27.4% higher net present value, respectively. This shows that changing the depreciation calculation method can redistribute the tax amount during the project period, thereby increasing the discounted cash flow of the solar project. In addition to increasing profitability, USA's depreciation methods alleviate the uncertainty of solar projects and provide more flexibility in project financing than the Korean method. These results strongly suggest that Korean tax law could greatly benefit from adopting USA's depreciation methods as an effective incentive scheme.

• Journal of Global Scholars of Marketing Science
• /
• v.18 no.4
• /
• pp.245-276
• /
• 2008

Brand equity is one of the most important concepts in business practice as well as in academic research. Successful brands can allow marketers to gain competitive advantage (Lassar et al.,1995), including the opportunity for successful extensions, resilience against competitors' promotional pressures, and the ability to create barriers to competitive entry (Farquhar, 1989). Branding plays a special role in service firms because strong brands increase trust in intangible products (Berry, 2000), enabling customers to better visualize and understand them. They reduce customers' perceived monetary, social, and safety risks in buying services, which are obstacles to evaluating a service correctly before purchase. Also, a high level of brand equity increases consumer satisfaction, repurchasing intent, and degree of loyalty. Brand equity can be considered as a mixture that includes both financial assets and relationships. Actually, brand equity can be viewed as the value added to the product (Keller, 1993), or the perceived value of the product in consumers' minds. Mahajan et al. (1990) claim that customer-based brand equity can be measured by the level of consumers' perceptions. Several researchers discuss brand equity based on two dimensions: consumer perception and consumer behavior. Aaker (1991) suggests measuring brand equity through price premium, loyalty, perceived quality, and brand associations. Viewing brand equity as the consumer's behavior toward a brand, Keller (1993) proposes similar dimensions: brand awareness and brand knowledge. Thus, past studies tend to identify brand equity as a multidimensional construct consisted of brand loyalty, brand awareness, brand knowledge, customer satisfaction, perceived equity, brand associations, and other proprietary assets (Aaker, 1991, 1996; Blackston, 1995; Cobb-Walgren et al., 1995; Na, 1995). Other studies tend to regard brand equity and other brand assets, such as brand knowledge, brand awareness, brand image, brand loyalty, perceived quality, and so on, as independent but related constructs (Keller, 1993; Kirmani and Zeithaml, 1993). Walters(1978) defined information search as, "A psychological or physical action a consumer takes in order to acquire information about a product or store." But, each consumer has different methods for informationsearch. There are two methods of information search, internal and external search. Internal search is, "Search of information already saved in the memory of the individual consumer"(Engel, Blackwell, 1982) which is, "memory of a previous purchase experience or information from a previous search."(Beales, Mazis, Salop, and Staelin, 1981). External search is "A completely voluntary decision made in order to obtain new information"(Engel & Blackwell, 1982) which is, "Actions of a consumer to acquire necessary information by such methods as intentionally exposing oneself to advertisements, taking to friends or family or visiting a store."(Beales, Mazis, Salop, and Staelin, 1981). There are many sources for consumers' information search including advertisement sources such as the internet, radio, television, newspapers and magazines, information supplied by businesses such as sales people, packaging and in-store information, consumer sources such as family, friends and colleagues, and mass media sources such as consumer protection agencies, government agencies and mass media sources. Understanding consumers' purchasing behavior is a key factor of a firm to attract and retain customers and improving the firm's prospects for survival and growth, and enhancing shareholder's value. Therefore, marketers should understand consumer as individual and market segment. One theory of consumer behavior supports the belief that individuals are rational. Individuals think and move through stages when making a purchase decision. This means that rational thinkers have led to the identification of a consumer buying decision process. This decision process with its different levels of involvement and influencing factors has been widely accepted and is fundamental to the understanding purchase intention represent to what consumers think they will buy. Brand equity is not only companies but also very important asset more than product itself. This paper studies brand equity model and influencing factors including information process such as information searching and information resources in the fashion market in Asia and Europe. Information searching and information resources are influencing brand knowledge that influences consumers purchase decision. Nine research hypotheses are drawn to test the relationships among antecedents of brand equity and purchase intention and relationships among brand knowledge, brand value, brand attitude, and brand loyalty. H1. Information searching influences brand knowledge positively. H2. Information sources influence brand knowledge positively. H3. Brand knowledge influences brand attitude. H4. Brand knowledge influences brand value. H5. Brand attitude influences brand loyalty. H6. Brand attitude influences brand value. H7. Brand loyalty influences purchase intention. H8. Brand value influence purchase intention. H9. There will be the same research model in Asia and Europe. We performed structural equation model analysis in order to test hypotheses suggested in this study. The model fitting index of the research model in Asia was $X^2$=195.19(p=0.0), NFI=0.90, NNFI=0.87, CFI=0.90, GFI=0.90, RMR=0.083, AGFI=0.85, which means the model fitting of the model is good enough. In Europe, it was $X^2$=133.25(p=0.0), NFI=0.81, NNFI=0.85, CFI=0.89, GFI=0.90, RMR=0.073, AGFI=0.85, which means the model fitting of the model is good enough. From the test results, hypotheses were accepted. All of these hypotheses except one are supported. In Europe, information search is not an antecedent of brand knowledge. This means that sales of global fashion brands like jeans in Europe are not expanding as rapidly as in Asian markets such as China, Japan, and South Korea. Young consumers in European countries are not more brand and fashion conscious than their counter partners in Asia. The results have theoretical, practical meaning and contributions. In the fashion jeans industry, relatively few studies examining the viability of cross-national brand equity has been studied. This study provides insight on building global brand equity and suggests information process elements like information search and information resources are working differently in Asia and Europe for fashion jean market.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.25 no.1
• /
• pp.181-195
• /
• 2015

Financial industries have operated internal and external network with an unified system for continual business process of customers and other organizations in the past. The financial supervising authority requires more technical and managerial protecting policy to financial industries related to the exposure as danger of external attacks or information leakage. Financial industries performed network separation into internal business and external internet networks for protecting IT assets from malware infection accessing internet or hacking attacks and prohibiting leakage of customers' personal and financial information following financial supervising authority and redefine security policy to fit on network separated-condition. In this study, effectiveness for network separation policy was examined on malware inflow and verified that malware inflow in all routes can be blocked by the policy with analyzing operration data of a financial company, estimating network separation. Result of this study proves that malware infection route by portable storages was not completely blocked even on adapting network-separated condition. As a solution for this, efficient security policy would be suggested in this paper as controlling portable storages for maximizing effectiveness of network separation.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.9
• /
• pp.440-446
• /
• 2016

Military secrets or confidential data of any organization are extremely important assets. They must be discluded from outside. To do this, methods for detecting anomalous attacks and intrusions inside the network have been proposed. However, most anomaly-detection methods only cover aspects of intrusion from outside and do not deal with internal leakage of data, inflicting greater damage than intrusions and attacks from outside. In addition, applying conventional anomaly-detection methods to data exfiltration creates many problems, because the methods do not consider a number of variables or the internal network environment. In this paper, we describe issues considered in data exfiltration detection for anomaly detection (DEDfAD) to improve the accuracy of the methods, classify the methods as profile-based detection or machine learning-based detection, and analyze their advantages and disadvantages. We also suggest future research challenges through comparative analysis of the issues with classification of the detection methods.

• Korean Journal of Heritage: History & Science
• /
• v.56 no.1
• /
• pp.118-130
• /
• 2023

Decay or large cavities inside trees are the main causes of trees overturning and broken branches, and structurally weakened trees are more vulnerable to strong winds and heavy snowfall. Recently, as strong winds and typhoons increase due to climate change, the damage to human life and property due to trees overturning continues to increase, and cultural assets are in a similar situation. In particular, old big trees are structurally vulnerable to external shocks such as strong winds and heavy snowfall. This study was aimed at providing a scientific basis for preventive protection measures by conducting a structural stability diagnosis of seven retusa fringe trees designated as natural monuments. For the structural stability diagnosis, tree risk assessment and internal tree defect measurements were performed. As a result of the tree risk assessment, the Retusa Fringe Trees in Sinjeon-ri, Yangsan and Gwangyangeupsu had the highest risk of broken branches due to weak branch attachment strength. As a result of the diagnosis of internal defects of cross sections of measured trees, there were suspected cavities or severe decay in all except two trees of the population of Retusa Fringe Trees in Pyeongji-ri. Natural disasters due to climate change are increasing, and the scale is getting larger, so it is very important to preemptively manage large old trees through scientific structural safety diagnosis to manage trees that are vulnerable to environmental changes.

• Journal of Distribution Science
• /
• v.10 no.2
• /
• pp.29-41
• /
• 2012

This paper undertakes a conceptual review of transaction cost to broaden the understanding of the transaction cost analysis (TCA) approach. More than 40 years have passed since Coase's fundamental insight that transaction, coordination, and contracting costs must be considered explicitly in explaining the extent of vertical integration. Coase (1937) forced economists to identify previously neglected constraints on the trading process to foster efficient intrafirm, rather than interfirm, transactions. The transaction cost approach to economic organization study regards transactions as the basic units of analysis and holds that understanding transaction cost economy is central to organizational study. The approach applies to determining efficient boundaries, as between firms and markets, and to internal transaction organization, including employment relations design. TCA, developed principally by Oliver Williamson (1975,1979,1981a) blends institutional economics, organizational theory, and contract law. Further progress in transaction costs research awaits the identification of critical dimensions in which transaction costs differ and an examination of the economizing properties of alternative institutional modes for organizing transactions. The crucial investment distinction is: To what degree are transaction-specific (non-marketable) expenses incurred? Unspecialized items pose few hazards, since buyers can turn toalternative sources, and suppliers can sell output intended for one order to other buyers. Non-marketability problems arise when specific parties' identities have important cost-bearing consequences. Transactions of this kind are labeled idiosyncratic. The summarized results of the review are as follows. First, firms' distribution decisions often prompt examination of the make-or-buy question: Should a marketing activity be performed within the organization by company employees or contracted to an external agent? Second, manufacturers introducing an industrial product to a foreign market face a difficult decision. Should the product be marketed primarily by captive agents (the company sales force and distribution division) or independent intermediaries (outside sales agents and distribution)? Third, the authors develop a theoretical extension to the basic transaction cost model by combining insights from various theories with the TCA approach. Fourth, other such extensions are likely required for the general model to be applied to different channel situations. It is naive to assume the basic model appliesacross markedly different channel contexts without modifications and extensions. Although this study contributes to scholastic research, it is limited by several factors. First, the theoretical perspective of TCA has attracted considerable recent interest in the area of marketing channels. The analysis aims to match the properties of efficient governance structures with the attributes of the transaction. Second, empirical evidence about TCA's basic propositions is sketchy. Apart from Anderson's (1985) study of the vertical integration of the selling function and John's (1984) study of opportunism by franchised dealers, virtually no marketing studies involving the constructs implicated in the analysis have been reported. We hope, therefore, that further research will clarify distinctions between the different aspects of specific assets. Another important line of future research is the integration of efficiency-oriented TCA with organizational approaches that emphasize specific assets' conceptual definition and industry structure. Finally, research of transaction costs, uncertainty, opportunism, and switching costs is critical to future study.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.6
• /
• pp.3894-3906
• /
• 2014

The aim of this study was to classify the central Buddhist temple among the state-designated cultural assets, which were measured precisely, into the gable roof buildings and the gambrel roof buildings to analyze the Ang-Goak, Inside waist, ridge ratio, and roof inclination represented on the roof, and prepare basic objective material for the restoration and repair of cultural assets. As a result, as for the relationship between the roof curve and the inclination of the gable roof building and gambrel roof building, the following conclusions could be drawn. First, the Ang-Goak and Inside waist of the gable roof building had a close correlation with the building size, and the internal high pillar existence. In addition, the Ang-Goak and Inside waist were shown in the 7-ryangga structure, which is greater in size than in the 5-ryangga structure. This was found to be related to the building size. Second, the Ang-Goak and Inside waist of the gable roof building has a correlation with each other, and it was found that Inside waist also was large in the building with a larger Ang-Goak. The roof inclination rarely had a connection with variable factors (plane factor, elevation factor, and cross section factor). The sizes of Ang-Goak, Inside waist, and ridge ratio were similar in the outside 1 chulmok and outside 2 chulmok of gongpo but those sizes were relatively larger in outside 3 chulmok. Third, the Ang-Goak and Inside waist of the gambrel roof building moved independently for each building without a correlation with each other, unlike the case of the gable roof building. The front and the side showed a correlation with each other, and in the building with the large curve of the front side, the curve was also large in the sides. Fourth, in the case of the building with a high pillar inside the gambrel roof building, the Ang-Goak and Inside waist were larger. On the other hand, they were smaller in the case of a building without a high pillar. This was found to have a close relationship with the building size. In addition, the ridge ratio has a close connection with the building size and building height. Therefore, the ridge ratio is larger in a high building or large sized building. The roof inclination rarely has a correlation with variable factors, as in the case of the gable roof building.

• Korean Journal of Heritage: History & Science
• /
• v.47 no.1
• /
• pp.164-179
• /
• 2014

The Buddhas of the Three Words in a form of arranging Bhaiṣajyaguru and $Amit{\bar{a}}bha$ at its side based on ${\acute{S}}{\bar{a}}kyamuni$ at the center is enshrined in Daeungbojeon Hall of Daeheungsa Temple located at Haenam. So far, this Buddhas of the Three Words has been known as a wooden Buddha statue. However, as a result of X-ray screening, in left/right Buddha statues excepting main Buddha, wood and molding clay layer were observed at the same time. Therefore, this study intended to observe its internal structure, grafting method and to clarify making technique of Buddha statue during Joseon era based on image information being obtained through X-ray screening of The Buddhas of the Three Words of Daeheungsa Temple. As its result, it was revealed that form of ${\acute{S}}{\bar{a}}kyamuni$ was completed by mainly grafting 5 pieces of timber and this statue shows a typical wood grafted Buddha statue during Joseon era. Form of Bhaiṣajyaguru and $Amit{\bar{a}}bha$ were completed based on molding technique by applying clay on sculpture similar to its appearance after sculpturing more than 10 pieces of timber through its grafting. In other words, internal timber is considered to play a role of its core and grafting method of timber is more close to a technique of molding Buddha statue than to that of wooden Buddha statue during Joseon era. However, clay was directly applied on timber thinly, not applying clay thickly on it after winding straw rope on wooden core and its characteristic is that its facial area was completely composed of wooden construction only. Therefore, it is hard to rule out a possibility that the original sculpturing intention of an artist might be a wooden Buddha statue but in view of the fact that a word, 'molding' was used in a record of relics buried in statue, it could be seen that this Buddha statue might have been recognized as a molding statue at the time when creation of this statue was completed. It is considered that number of case of making statue based on this technique would be more increased when more results of X-ray screening should be accumulated and if more data should be collected, it would provide a significant evidence for identifying chronological, regional aspects of making technique of Buddha statue.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.18 no.5
• /
• pp.63-75
• /
• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.