• 산경연구논집
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• 제8권5호
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• pp.87-93
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• 2017

Purpose - This paper investigates whether managerial overconfidence is associated with firm-specific crash risk. Overconfidence leads managers to overestimate the returns of their investment projects, and misperceive negative net present value projects as value creating. They even use voluntary disclosures to convey their optimistic beliefs about the firms' long-term prospects to the stock market. Thus, the overconfidence bias can lead to managerial bad news hoarding behavior. When bad news accumulates and crosses some tipping point, it will come out all at once, resulting in a stock price crash. Research design, data and methodology - 7,385 firm-years used for the main analysis are from the KIS Value database between 2006 and 2013. This database covers KOSPI-listed and KOSDAQ-listed firms in Korea. The proxy for overconfidence is based on excess investment in assets. A residual from the regression of total asset growth on sales growth run by industry-year is used as an independent variable. If a firm has at least one crash week during a year, it is referred to as a high crash risk firm. The dependant variable is a dummy variable that equals 1 if a firm is a high crash risk firm, and zero otherwise. After explaining the relationship between managerial overconfidence and crash risk, the total sample was divided into two sub-samples; chaebol firms and non-chaebol firms. The relation between how I overconfidence and crash risk varies with business group affiliation was investigated. Results - The results showed that managerial overconfidence is positively related to crash risk. Specifically, the coefficient of OVERC is significantly positive, supporting the prediction. The results are strong and robust in non-chaebol firms. Conclusions - The results show that firms with overconfident managers are likely to experience stock price crashes. This study is related to past literature that examines the impact of managerial overconfidence on the stock market. This study contributes to the literature by examining whether overconfidence can explain a firm's future crashes.

• 한국보건교육건강증진학회:학술대회논문집
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• 한국보건교육건강증진학회 1999년도 3rd International Symposium
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• pp.149-163
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• 1999

네팔의 보건부산하 보건서비스부서에서는 5개년계획을 게우고 있으며, 지방에서 기본적인 보건의료서비스제공을 위한 주요 전략으로 일차보건의료사업을 하고 있다. 그러나 자유화 정책(Liberation policy)으로 인해 도시지역의 전문화된 서비스 개발, 인간자원 개발, 경영강화와 민간 및 대외 투자 등이 활발해졌다. 그러나 네팔은 아직도 높은 출산력, 영양결핍, 전염병, 높은 사망률 등을 겪고 있는 데 이는 조기결혼, 미신적인 전통신앙과 행동, 비위생적 생활, 빈곤, 문명, 감독과 모니터링의 결핍, 높은 인구밀도, 민간 및 대외활동에 더 많이 투자해야 하고; 인력개발 및 전문화된 서비스가 관리되어야 하며; 경영기술이 강화되고 이전사업의 평가를 통해 향후 사업수행상의 오류를 피할 수 있도록 해야 한다. 이러한 것들이 개선된다면 네필주민의 건강목표는 달성될 것이다.

• 벤처창업연구
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• 제14권2호
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• pp.181-190
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• 2019

본 연구는 주택선택 속성과 정부정책이 주택 구매행동에 미치는 영향력을 통해서 주택시장에 대한 이해를 돕고자 한다. 이를 위한 분석의 주요 쟁점은 다양한 유형의 주택선택 속성과 정부정책간에 부동산 투자전망의 조절효과를 고려하는 것이다. 연구결과는 다음과 같다. 첫째, 주택선택 속성 중 편의성, 교육입지, 이웃수준은 주택구매의도에 유의미한 영향을 미치는 것으로 나타났다. 둘째, 정부정책은 주택구매의도에 유의미한 영향력이 없었다. 셋째, 부동산 투자전망의 조절효과는 선택속성 중 이웃수준과 상호작용 변수가 주택구매의도에 정적인 영향을 미치는 것으로 나타났다. 본 연구결과 정부의 금융정책은 주택구매 의사결정에 영향을 미치지 않음으로서, 현실적으로 과도한 규제는 처음 주택 구매자에게 주거복지의 질을 떨어뜨릴 수 있다. 또한 소비자 선호도의 동기에 대한 이해를 통해서 주택시장에서의 실제 수요 변화를 적절히 기술하고 설명 할 수 있다.

• 디지털융복합연구
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• 제19권3호
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• pp.127-135
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• 2021

본 연구에서는 사옥신축목적의 시설투자 공시기업을 대상으로 내부관계자의 거래행태에 따른 차별적 장기성과를 살펴봄으로써 자본시장의 정보비대칭 현상을 분석하고 있다. 이를 위해 한국거래소 유가증권과 코스닥시장에서 투자공시가 이루어진 기업을 대상으로 사건연구방법과 다중회귀분석을 활용하여 분석하였다. 연구결과 사옥신축 기업의 장기주가수익률은 평균적으로 양(+)의 유의한 값을 나타내고 있다. 공시 전후의 내부관계자 지분변화에 따라 차별적 장기성과가 나타나고 있으며, 회귀분석결과 내부관계자지분, 소액개인투자자의 지분변화는 각각 장기성과와 통계적으로 유의한 양(+)과 음(-)의 상관관계가 있음을 확인하였다. 이는 내부관계자가 경영자의 사적 의도에 대한 진위 여부 및 사옥신축이 기업에 미치는 영향을 판단할 수 있는 정보우위의 위치에 있음을 뒷받침해 줄 수 있는 연구결과로 풀이되며 지분변화요인이 사옥신축 기업에 대한 장기성과의 예측요인으로 활용될 수 있다는 측면에서 자본시장의 투자자들에게 실무적으로 유용한 정보를 제공해 줄 수 있을 것으로 기대된다.

• Asia pacific journal of information systems
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• 제22권1호
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• pp.53-77
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• 2012

Financial firms, especially large scaled firms such as KB bank, NH bank, Samsung Card, Hana SK Card, Hyundai Capital, Shinhan Card, etc. should be securely dealing with the personal financial information. Indeed, people have tended to believe that those big financial companies are relatively safer in terms of information security than typical small and medium sized firms in other industries. However, the recent incidents of personal information privacy invasion showed that this may not be true. Financial firms have increased the investment of information protection and security, and they are trying to prevent the information privacy invasion accidents by doing all the necessary efforts. This paper studies how effectively a financial firm will be able to avoid personal financial information privacy invasion that may be deliberately caused by internal staffs. Although there are several literatures relating to information security, to our knowledge, this is the first study to focus on the behavior of internal staffs. The big financial firms are doing variety of information security activities to protect personal information. This study is to confirm what types of such activities actually work well. The primary research model of this paper is based on Theory of Planned Behavior (TPB) that describes the rational choice of human behavior. Also, a variety of activities to protect the personal information of financial firms, especially credit card companies with the most customer information, were modeled by the four-step process Security Action Cycle (SAC) that Straub and Welke (1998) claimed. Through this proposed conceptual research model, we study whether information security activities of each step could suppress personal information abuse. Also, by measuring the morality of internal staffs, we checked whether the act of information privacy invasion caused by internal staff is in fact a serious criminal behavior or just a kind of unethical behavior. In addition, we also checked whether there was the cognition difference of the moral level between internal staffs and the customers. Research subjects were customer call center operators in one of the big credit card company. We have used multiple regression analysis. Our results showed that the punishment of the remedy activities, among the firm's information security activities, had the most obvious effects of preventing the information abuse (or privacy invasion) by internal staff. Somewhat effective tools were the prevention activities that limited the physical accessibility of non-authorities to the system of customers' personal information database. Some examples of the prevention activities are to make the procedure of access rights complex and to enhance security instrument. We also found that 'the unnecessary information searches out of work' as the behavior of information abuse occurred frequently by internal staffs. They perceived these behaviors somewhat minor criminal or just unethical action rather than a serious criminal behavior. Also, there existed the big cognition difference of the moral level between internal staffs and the public (customers). Based on the findings of our research, we should expect that this paper help practically to prevent privacy invasion and to protect personal information properly by raising the effectiveness of information security activities of finance firms. Also, we expect that our suggestions can be utilized to effectively improve personnel management and to cope with internal security threats in the overall information security management system.

• 디지털융복합연구
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• 제20권3호
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• pp.251-264
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• 2022

본 연구의 목적은 기업의 성공적인 리워드형 크라우드펀딩을 위한 요인과 전략을 제시하는 것이다. 이를 위해 계획행동이론(TPB)의 기본 변수인 태도, 주관적 규범, 지각된 행동 통제 외에도 개인 혁신성과 위험 선호도를 확장 변수로 추가하여, 확장된 계획행동이론(E-TPB)을 바탕으로 리워드형 크라우드펀딩의 투자 의도에 영향을 미치는 요인들을 파악하고 요인들 간의 영향 관계를 살펴보았다. 또한, 리워드형 크라우드펀딩 경험의 조절 효과를 확인하였으며, 리워드형 크라우드펀딩의 개념에 대해 인지하고 있는 설문자를 대상으로 탐색적 요인분석과 다중 회귀분석을 진행하였다. 가설을 검증한 결과 태도, 주관적 규범, 지각된 행동 통제, 위험 선호도는 리워드형 크라우드펀딩 투자 의도에 영향을 미치는 것으로 나타났으며, 리워드형 크라우드펀딩 경험이 지각된 행동 통제와 위험 선호도가 투자 의도에 영향을 미치는 정도를 조절하는 것으로 확인되었다. 연구결과를 바탕으로 기업들이 자금조달과 판매 활성화 방안으로 사용할 수 있는 리워드형 크라우드펀딩의 성공을 높이는 방향성을 제시하여 학문적·실무적 의의가 있을 것으로 보인다.

• 대한간호학회지
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• 제37권7호
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• pp.1091-1097
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• 2007

Purpose: This study was done to survey health behaviors in people at risk for a Cerebrovascular Accident(CVA). Method: From November 21 to December 29, 2005, a questionnaire survey was conducted with 171 people at risk for a Cerebrovascular Accident(LDL of above 130mg/dl & homocysteine of above $15.0{\mu}mol/L$). Their physical composition was measured and blood was collected. Results: 1. Of the subjects, 34.5% were smokers, 61.4% were drinkers, 56.7% did not exercise regularly, 57.3% did not control their weight, 26.9% preferred eating meat, and 32.2% preferred salty food. 2. The gender was different between smoking status($X^2=10.734$, p= .001), and drinking status($X^2=7.185$, p= .007), and the age was different between smoking status($X^2=6.656$, p=.010), and drinking status($X^2=10.722$, p= .001). The $HbA_1C$ level was different for regular exercise($X^2=4.824$, p=.028) and the HDL-cholesterol was different for meat-eating preference($X^2=7.928$, p= .005). The observance of troubling signs was different for a salty food preference($X^2=4.313$, p= .038). Conclusion: It is necessary to develop programs for taking care of people at risk for a Cerebrovascular Accident and test the effects of the programs in order to reduce the risk factors of CVA and enhance health behavior promotion.

• 국제강구조저널
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• 제18권5호
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• pp.1639-1653
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• 2018

Bolted connections are suitable due to high quality prefabrication in the factory and erection in the workplace. Prefabrication and modularization cause high speed of erection and fabrication, high quality and quick return of investment. Their technical hitches transportation can be removed by prefabrication of joints and small fabrication of components. Box-columns are suitable members for bolted structures such as welded steel structures with moment frames in two directions etc., but their continual fabrication in multi-story buildings and performing the internal continuity plate in them will cause some practical dilemmas. The details of the proposal technique introduced here, is to remove such problems from the box columns. Besides, some other advantages include new prefabricated bolted beam-to-column connections referred to BBCC. This connection is a set of plates joined to columns, beams, support, and bolts. For a better understanding of its fabrication and erection techniques, two connection and one structural maquettes are made. The present work aims to study the cyclic behavior of connection numerically. To verify the accuracy of model, a similar tested connection was modelled. Its verification was then made through comparison with test results. The behavior of connection was evaluated for an exterior connection using three different support shapes. The effects of support shapes on rigidity, ductility, rotation capacity, maximum strength, four rad rotation strength were compared to those of the AISC seismic provision requirements. It was found that single beams support has all the AISC seismic provision requirements for special moment frames with and without a continuity plate, and box with continuity plate is the best support in the BBCC connection.

• 대한지역사회영양학회지
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• 제28권2호
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• pp.95-103
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• 2023

Objectives: The budget gap in the health sector of local governments affects the supply of health services, which can cause the health gap. This study classified local governments according to their financial characteristics, such as local financial independence and health budget level. It analyzed the health behaviors and disease prevalence of local residents to examine the effect of local government financial investment on the health of local residents. Methods: To classify types according to the financial characteristics of local governments, financial independence and the health budget data for 17 local governments were collected from the local fiscal yearbook of the Ministry of Public Administration and Security. The prevalence of chronic diseases and healthy behavior was compared using the 16,333 data of adults between the ages of 30 and 65 years among the original data of the National Health and Nutrition Examination Survey (2016-2020). Results: Cluster analysis was used to classify local governments into five clusters according to the health financial capacity type. A comparison of the prevalence of local residents by cluster revealed a similar prevalence of hypertension, diabetes, and hypercholesterolemia. On the other hand, the obesity rate (P < 0.01), high-risk drinking rate (P < 0.01), aerobic physical activity rate (P < 0.001), and healthy eating practice rate (P < 0.001) were significantly different. In addition, an analysis of the odds ratio based on the Seoul area revealed a higher risk of health behavior of non-Seoul residents. Conclusions: It is necessary to review the universal health promotion project budget considering the degree of regional financial vulnerability from the viewpoint of health equity to narrow the health gap among regions.

• 정보보호학회논문지
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• 제26권2호
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• pp.463-474
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• 2016

IT 환경변화에 따라 IT기술을 기반으로 하는 금융환경에서 정보보안의 사고 경로는 다양해지고 있고 그 발생 가능한 피해 유형은 점차 광범위해지고 있다. 특히 기업에게 정보보안사고로 인한 개인정보유출은 1차적인 문제로 그치지 않고 유출된 개인정보로 2차 피해가 충분히 발생가능하기에 그 어느 유형의 정보보안사고보다 심각하다고 할 수 있다. 본 연구는 개인정보유출사고가 기업가치에 어떠한 영향을 미치는지 최근 15년간 1,899개의 상장기업 중 개인정보유출사고가 발생한 21개의 상장기업을 대상으로 사건연구방법론을 통해 분석하였고 사고일 전후의 거래량 흐름을 통해 개인정보유출사고에 대한 투자자들의 정보반응을 추론하고자 하였다. 더불어, 우리나라 주식시장에서 외국인, 기관, 개인투자자 등으로 그 투자자유형을 세분화하여 개인정보유출사고가 투자자 유형별 투자성과에 어떠한 영향을 주는 사건인지를 실증적으로 정량분석 하였다. 본 논문을 통해 우리나라 주식시장에서 개인정보유출사고가 기업가치 뿐만 아니라 기업의 이해관계자인 투자주체별 투자성과에도 차별적인 영향을 주는 사건이라는 것을 제시함으로서 정보보안사고로 인한 피해예방과 기업의 정보보안을 담당하는 사람들의 지위 및 역할에 있어 경영자들에게 정보보안의 중요성을 인지시켜주는데 있어 본 연구가 실무적으로 많은 시사점을 줄 것이라 기대해 본다.