• Journal of Technology Innovation
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• v.28 no.3
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• pp.1-28
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• 2020

This study examines whether the firm with high innovation efficiency realizes high operating performance. We measured innovation efficiency by the ratio of patent applications for R&D expenditure or R&D stock and measured operating performance by the ratio of operating income or operating cash flow to total assets for the following year. The sample consists of 1,880 manufacturing firm-years, which listed on the Korean Exchange between 2014 and 2017. We analyze the effect of innovation efficiency on operating performance using a model of Hirshleifer et al. (2013) results show that both innovation efficiency variables have a significantly positive relationship with the total asset operating margin. Besides, the following year's performance, measured by the total asset operating cash flow ratio, also shows a positive relationship with the two innovation efficiency variables at the 5% and 1% significance levels, respectively. The results indicate that high innovation efficiency firms that link the outcomes of R&D to more patent applications realize higher operating performance. Also, we divided the R&D-intensive and non-R&D-intensive industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. However, the effect of innovation efficiency on the operating cash flow is only significant in R&D-intensive industries. This study suggests that the effects of innovation efficiency are more consistent in the R&D-intensive industry. Additionally, we divided the high patent application and low patent applications industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. This study suggests that the effects of innovation efficiency are more consistent in the high patent application industry. We show that a firm's innovation efficiency is a critical factor for a firm's performance, while prior studies on the R&D performance have not considered the innovation efficiency of each firm. The evidence suggests that firms not only consider R&D expenditures but also improve the performance of companies by increasing innovation efficiency. Investors need to consider their innovation efficiency when evaluating the value of firms.

• Journal of Korean Society of Forest Science
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• v.100 no.2
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• pp.246-255
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• 2011

This study was carried out to investigate the characteristics of wind damaged trees in the Hongneung Arboretumin Korea. Many trees in the Hongneung Arboretum were damaged by the 'Kompasu', the seventh typhoon in the year of 2010 having strong impacts on the central region of Korea. Damaged trees were divided into 3 damage types: windthrow, slanted and broken trees. Most of damaged trees (97.3%) were found at low slope (below 15 degree) or medium slope (15~20 degree). The 45.3% of damaged trees were coniferous and 54.7% were deciduous trees. The wind speed was recorded for the duration of the typhoon from 04:00 AM to 12:00 PM on September 2. The average wind speed and the maximum instantaneous wind speed inside the forest were 1.4 m/sec and 3.5 m/sec, respectively. The highest peak of the average and the maximum instantaneous wind speed inside of forest, 3.4 m/sec and 8.7 m/sec respectively, were recorded at 06:10 AM on September 2. To analyze relationship between wind characteristics and the damage types, the average wind speed and the frequency of wind wave was compared to those of pre-typhoon period (Feb. 13, Feb. 20, Apr. 21, Oct. 16, 2009 and Mar. 20, 2010). The results indicated that the damaged trees were affected by frequent wind wave rather than the wind speed itself. Also average wind direction inside the forest was analyzed to investigate the impact of wind direction on the damaged trees. The wind had mainly blown from SE and SW, and the maximum instantaneous wind direction was SE direction overall. Most of the damaged trees (84.0%) had fallen down to the NW or NE direction. This result showed that the fallen direction of the damaged trees and wind direction was highly related. Therefore, we found that the frequency of wind wave was the main factor of wind damages during the typhoon 'Kompasu' and wind direction was highly related to the fallen direction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.95-114
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• 2020

This paper, a meta-analysis of the effect of the start-up support policy on the start-up performance was conducted to examine the effect of the start-up support policy on the start-up performance of beneficiary companies and to provide theoretical and practical implications to support organizations and practitioners. To this end, 35 papers containing the correlation coefficient, which is a positive statistical value, were selected from the previous studies in academic journals and dissertations published in Korea from 2007 to 2020. In the preceding study of the start-up support policy, the independent variables include funding, education support, facility/equipment support, network support, mentoring support, consulting support, marketing support, management support, technical support, manpower support, and finance as a dependent variable. The effect size of the impact on aptitude and non-financial performance was reviewed. The pattern of the effect size was presented as a forest plot for easy visual understanding, and outliers were verified through sensitivity analysis for small-study-effect data with publication convenience. As a result of analyzing the effect size of the government-supported policy, it was verified that the effect size was generally medium or higher, affecting the entrepreneurial performance. Among the independent variables, the factor that has the greatest effect on startup performance is manpower support, followed by technical support, marketing support, management support, facility/equipment support, education support, mentoring support, funding, network support, and consulting support. It was analyzed that the effect size was large in order. As the 「Small and Medium Business Startup Support Act」 was recently reorganized from the manufacturing industry to digital transformation and smartization on October 8, 2020, the start-up support policy should consider the start-up stage and verify the priorities to organize the budget.

• Journal of Intelligence and Information Systems
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• v.27 no.4
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• pp.23-48
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• 2021

The Korean economy has achieved continuous economic growth for the past several decades thanks to the government's export strategy policy. This increase in exports is playing a leading role in driving Korea's economic growth by improving economic efficiency, creating jobs, and promoting technology development. Traditionally, the main factors affecting Korea's exports can be found from two perspectives: economic factors and industrial structural factors. First, economic factors are related to exchange rates and global economic fluctuations. The impact of the exchange rate on Korea's exports depends on the exchange rate level and exchange rate volatility. Global economic fluctuations affect global import demand, which is an absolute factor influencing Korea's exports. Second, industrial structural factors are unique characteristics that occur depending on industries or products, such as slow international division of labor, increased domestic substitution of certain imported goods by China, and changes in overseas production patterns of major export industries. Looking at the most recent studies related to global exchanges, several literatures show the importance of cultural aspects as well as economic and industrial structural factors. Therefore, this study attempted to develop a forecasting model by considering cultural factors along with economic and industrial structural factors in calculating the import volume of each country from Korea. In particular, this study approaches the influence of cultural factors on imports of Korean products from the perspective of PUSH-PULL framework. The PUSH dimension is a perspective that Korea develops and actively promotes its own brand and can be defined as the degree of interest in each country for Korean brands represented by K-POP, K-FOOD, and K-CULTURE. In addition, the PULL dimension is a perspective centered on the cultural and psychological characteristics of the people of each country. This can be defined as how much they are inclined to accept Korean Flow as each country's cultural code represented by the country's governance system, masculinity, risk avoidance, and short-term/long-term orientation. The unique feature of this study is that the proposed final prediction model can be selected based on Design Principles. The design principles we presented are as follows. 1) A model was developed to reflect interest in Korea and cultural characteristics through newly added data sources. 2) It was designed in a practical and convenient way so that the forecast value can be immediately recalled by inputting changes in economic factors, item code and country code. 3) In order to derive theoretically meaningful results, an algorithm was selected that can interpret the relationship between the input and the target variable. This study can suggest meaningful implications from the technical, economic and policy aspects, and is expected to make a meaningful contribution to the export support strategies of small and medium-sized enterprises by using the import forecasting model.

• Land and Housing Review
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• v.14 no.2
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• pp.19-34
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• 2023

The proportion of single-person households has been steadily increasing, and the young account for the highest proportion at 35.9% among all single-person households. However, research on young single-person households has been relatively recent. Research on single-person households has mostly focused on all single-person households or elderly single-person households, and comparative research between different age groups is lacking. Therefore, this study categorizes all single-person households into young, middle-aged, and elderly groups to investigate the differences in the factors that affect their residential satisfaction and to analyze how these residential environment factors affect life satisfaction through the mediating effect of residential satisfaction. The 2020 Seoul Survey Urban Policy Index Survey data were analyzed using a structural equation model to investigate the impact of each factor. First, a finding is that various residential environment factors directly affect residential satisfaction and life satisfaction. Next, it was found that residential satisfaction directly affects life satisfaction in the models of young and middle-aged single-person households. Through this, it was confirmed that there are differences in residential environment factors that affect residential satisfaction and that residential satisfaction plays an important mediating role. Finally, it was found that the factors that affect the residential and life satisfaction of young single-person households are more diverse compared to other age groups. This study provides policy implications that age group differences should be considered first in order to improve the residential and life satisfaction of single-person households. In particular, for young single-person households, it is necessary to consider more diverse alternatives to improve their residential and life satisfaction.

• Asia Marketing Journal
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• v.14 no.1
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• pp.53-81
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• 2012

Constructing attractive bundle offers depends on more than an understanding of the distribution of consumer preferences. Consumers are also sensitive to the framing of price information in a bundle offer. In classical economic theory, consumers' utility should not change as long as the total price paid stays same. However, even when total prices are identical, consumers' preferences toward a bundle product could be different depending on the format of price presentation and the locus of price discount. A weighted additive model predicts that the impact of a price discount on the overall evaluation of the bundle will be greater when the discount is assigned to the more important product in the bundle(Yadav 1995). Meanwhile, a reference dependent model asserts that it is better to assign a price discount to a tie-in component that has a negative valuation at its current offer price than to a focal product that has a positive valuation at its current offer price(Janiszewski and Cunha 2004). This paper has expanded previous research regarding price discount presentation format, investigating the reasons for mixed results of prior research and presenting new mechanisms for price discount framing effect. Prior research has hypothesized that bundling is used to sell a tie-in component with an offer price above the consumer's reference price plus a focal product of the same offer price with reference price(e.g., Janiszewski and Cunha 2004). However, this study suggests that bundling strategy can be used for increasing product's attractiveness through the synergy between components even when offer prices of bundle components are the same with reference prices. In this context, this study employed various realistic bundle sets with same price between offer price and reference price in the experiment. Hamilton and Srivastava(2008) demonstrated that when evaluating different partitions of the same total price, consumers prefer partitions in which the price of the high-benefit component is higher. This study determined that their mechanism can be applied to price discount presentation formats. This study hypothesized that price discount framing effect depends not on the negative perception of tie-in component with offer price above reference price but rather on the consumers' perceived consumption benefit in bundle product. This research also hypothesized that preference for low-benefit discount mechanism is that perceived consumption benefit reduces price sensitivity. Furthermore, this study investigated how consumers' concern for quality in a price discount--a factor not considered in previous research--influences price discount framing. Yadav(1995)'s experiment used only one magazine bundle of relatively low quality uncertainty and could not show the influence of perceived uncertainty of quality. This study assumed that as perceived uncertainty of quality increases, the price sensitivity mechanism for assigning the discount to low-benefit will increase. Further, this research investigated the moderating effect of uncertainty of quality in price discount framing. The results of the experiment showed that when evaluating different partitions of the same total price and the same amount of discounts, the partition that discounts in the price of low benefit component is preferred to the partition that decreases the price of high benefit component. This implies that price discount framing effect depends on the perceived consumption benefit. The results also demonstrated that consumers are more price sensitive to low benefit component and less price sensitive to high benefit component. Furthermore, the results showed that the influence of price discount presentation format on the evaluation of bundle product varies with the perceived uncertainty of quality in high consumption benefit. As perceived uncertainty of quality gradually increases, the preference for discounts in the price of low consumption benefit decreases. Besides, the results demonstrate that as perceived uncertainty of quality gradually increases, the effect of price sensitivity in consumption benefit also increases. This paper integrated prior research by using a new mechanism of perceived consumption benefit and moderating effect of perceived quality uncertainty, thus providing a clearer explanation for price discount framing effect.

• The Korean Journal of Medicine
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• v.94 no.1
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• pp.96-106
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• 2019

Background/Aims: It is well known that gender differences are associated with clinical outcomes in patients with acute myocardial infarction (AMI). However, it is not clear whether gender differences affect the prognosis of elderly patients with AMI. Methods: We analyzed the incidence of in-hospital complications and mortality in the Korea Acute Myocardial Infarction Registry-National Institutes of Health from November 2011 to June 2015. This study included elderly patients (≥ 75 years) diagnosed with AMI. Results: A total of 2,953 patients were eligible for this study. Among them, 1,529 (51.8%) patients were female, and the mean age of the female group was older than that of the male group (80.7 ± 4.4 vs. 79.6 ± 4.0 years, respectively, p < 0.001). Elderly females utilized emergency medical services less frequently compared with elderly males (11.5 vs. 15.4%, respectively, p < 0.001). Elderly female AMI patients had a similar rate of in-hospital mortality compared with elderly males (7.1 vs. 8.4%, respectively, p = 0.196). The rate of major cardiac adverse events (MACEs) was lower in elderly females than males during a 12-month follow-up (hazard ratio [HR] 1.19, 95% confidence interval [CI] 1.00-1.41, p = 0.045). According to multivariate analysis, the male gender is an independent factor for predicting 1-year MACEs (HR 1.37, 95% CI 1.14-1.65, p < 0.001). Conclusions: No significant differences in peri-procedural complications or in-hospital mortality were observed between male and female elderly patients with AMI. However, elderly female patients had a more favorable prognosis than male patients during a 1-year clinical follow-up.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.23-40
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• 2023

This study examines the customer value factors affecting the intention to continue using the mobile app of department stores, which are traditional offline retailers, in the retail industry that is rapidly digitalizing and becoming mobile. This study clarifies multidimensional customer value in three dimensions; functional, convenience, and social. Functional value refers to the integrated channel, and consistent customer experience provided between channels in the omnichannel retail environment, while convenience value is the convenience of saving time and effort save while customers use a mobile app. Social value refers to the improvement of social approval or social self-concept occurring due to the use of products or services related to green marketing within the mobile app of the department store. The influence of each on the dependent variable, the mobile app's continuous use intention, was analyzed by using the three dimensions of customer value as independent variables. Data was collected from customers who have a history of using the mobile app of Shinsegae Department Store in Korea, and a confirmatory analysis was conducted using Smart PLS 4.0. The analysis results showed that all three dimensions of customer value; functional value, convenience value, and social value, had a positive (+) influence on customers' intention to continue using the mobile app, and the influence of functional value had the greatest impact. As functional value appears to be the most important influencing factor due to the omnichannel retail trend by advancement of technology, it suggests that it is important for department stores, and offline retailers, to provide integrated channels. This provides insights into the direction of customer-centered strategy formulation for activating department store mobile apps and suggests basic analytical data for customized services and marketing activities that department stores can effectively meet the changing expectations and demands of customers through new mobile channels rather than existing offline channels.

• Korean Journal of Poultry Science
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• v.50 no.4
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• pp.213-229
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• 2023

This study aimed to investigate the effects of beak trimming and crossbreeding-combinations on the productive performance and stress response levels of Korean native chickens. The study divided 248 individuals from six crossbreeding-combinations into two groups: one underwent beak trimming, and the other did not. The survival rate, body weight, egg production rate, egg quality, feather damage score, HSP-70 gene expression level, H/L ratio, and intracellular DNA damage rate were measured and analyzed. The results showed that the beak-trimmed group had significantly higher survival rates and hen-housed egg production compared to the non-beak-trimmed group (P<0.05). Feather damage and DNA damage rates were significantly lower in the beak-trimmed group (P<0.05). On the other hand, there were no significant differences between the two groups in adult body weight, hen-day egg production, egg quality, HSP-70 gene expression level, and H/L ratio. Among the crossbreeding-combinations, there were significant differences in survival rate, body weight, feather damage score, egg quality, and DNA damage rate (P<0.05), while egg production rate, HSP-70 gene expression level, and H/L ratio showed no significant differences. There was an interaction between beak trimming and crossbreeding-combinations in some traits. In conclusion, beak trimming in Korean native chickens has a positive impact on productive performance, and in terms of stress response, beak trimming may not act as a stress factor or may even reduce stress after the growing period. Furthermore, there were differences in productive performance and stress response levels among crossbreeding-combinations, but the effects of beak trimming were similar across these combinations.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.1
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• pp.173-188
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• 2023

This paper analyzed the Earnings management of firms selected as preliminary Unicorn. If a manager is selected as a preliminary unicorn firm, he can receive financial support of up to 20 billion won, creating a factor in managing the manager's earnings. The motive for management's earnings management is related to the capital market. Accounting information is used by investors and financial analysts, and corporate profits affect corporate value. Therefore, if the accounting earning is adjusted upward, the corporate value will be raised and investment conditions will be favorable. In this paper, earnings quality was measured by the modified Jones model of Dechow et al.(1995) by the ROA control model of Kothari et al.(2005) among the discretionary accruals estimated using an alternative accrual prediction model. Competing similar companies in the same market as the selected companies were formed, and the discretionary accruals were mutually compared to verify the research hypotheses, and only the selected companies were analyzed for the audit year and after the audit year. As a result of the analysis, it was found that the companies selected as preliminary unicorns had higher earnings management compared to the corresponding companies in question, which had a negative impact on the quality of accounting profits. It was found that the companies selected as preliminary unicorns continued to receive incentives for management's earnings management even after being selected. These results indicate that the companies selected as prospective unicorns are recognized for their value in the market through external growth rather than internal growth, and thus, incentives for management's earnings management to attract investment from external investors under favorable conditions are continuing. In the future preliminary unicorn selection evaluation, it was possible to present what needs to be reviewed on the quality of accounting earning. The implication of this paper is that the factors of management's earnings management eventually hinder investors and creditors from judging the reliability of accounting information. It was suggested that a policy alternative for the K-Unicorn Project, which enhances reliability were presented by reflecting the evaluation of earnings quality through discretionary accruals.