• Management & Information Systems Review
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• v.37 no.2
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• pp.187-207
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• 2018

This study examines the negative relationship between accounting conservatism and excess executive compensation and examines whether their relationship increases as managerial incentive compensation intensity increases. For this purpose, a total of 2,755 company-years were selected for the analysis of the companies listed on the Korea Stock Exchange from December 2012 to 2016 as the final sample. The results of this study are as follows. First, there is a statistically significant negative relationship between accounting conservatism and manager overpayment. This implies that managers' incentives to distort future cash flow estimates by over booking assets or accounting profits in order to maximize their compensation when manager compensation is linked to firm performance. In this sense, accounting conservatism can reduce opportunistic behavior by restricting managerial accounting choices, which can be interpreted as a reduction in overpayment to managers. Second, we found that the relationship between accounting conservatism and excess executive compensation increases with the incentive compensation for accounting performance. The higher the managerial incentive compensation intensity of accounting performance is, the more likely it is that the manager has the incentive to make earnings adjustments. Therefore, the high level of incentive compensation for accounting performance means that the ex post settling up problem due to over-compensation can become serious. In this case, the higher the managerial incentive compensation intensity for accounting performance, the greater the role and utility of conservatism in manager compensation contracts. This study is based on the fact that it presents empirical evidence on the usefulness of accounting conservatism in managerial compensation contracts theoretically presented by Watts (2003) and the additional basis that conservatism can be used as a useful tool for investment decision.

• Management & Information Systems Review
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• v.37 no.2
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• pp.149-167
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• 2018

The purpose of this study is to analyze the performance of Virtual Desktop Infrastructure(VDI) adoption. VDI performance was measured by IS manager (system quality, security, and managerial operation) and business user (usability, access, and user satisfaction). The survey questionnaires were developed for measuring VDI performance. 84 data samples were collected from the companies that had adopted cloud-based VDI. This research model was verified by Smart-PLS and SPSS. The research findings were as follows: First, the companies using VDI experienced actual performance, but they did not attain their expectation. Second, as results of comparing between IS managers and business users, IS administrators had considerably higher performance than business users, which indicates that there were big differences in performance perception among users. Compared with prior research such as technical trend, system construction, and performance improvement, this study has the following implications. First, by comparing the expected performance with the actual performance of the companies that have implemented and operating VDI, it was suggested how a company that wants to adopt VDI can manage the expectation level of VDI and achieve higher actual performance. Second, because the perception of VDI performance differs between business users and system managers, it is meaningful that a fair evaluation of VDI performance requires a balanced consideration of business users and system managers.

• Korean Security Journal
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• no.19
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• pp.225-244
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• 2009

Electronic security system is composed mainly of electronic-information-communication device, so system technology, configuration and management of the electronic security system could be affected by the change of information-communication environment. This study is to propose the future prospect on the development of technique for electronic security system through the analysis of the trend and the actual condition on the development of technique. This study is based on literature study and interview with user and provider of electronic security system, also survey was carried out by system provider and members of security integration company to come up with more practical result. Hybrid DVR technology that has multi-function such as motion detection, target tracking and image identification is expected to be developed. And 'Embedded IP camera' technology that internet server and image identification software are built in. Those technologies could change the configuration and management of CCTV system. Fingerprint identification technology and face identification technology are continually developed to get more reliability, but continual development of surveillance and three-dimension identification technology for more efficient face identification system is needed. As radio identification and tracking function of RFID is appreciated as very useful for access control system, hardware and software of RFID technology is expected to be developed, but government's support for market revitalization is necessary. Behavior pattern identification sensor technology is expected to be developed and could replace passive infrared sensor that cause system error, giving security guard firm confidence for response. The principle of behavior pattern identification is similar to image identification, so those two technology could be integrated with tracking technology and radio identification technology of RFID for total monitoring system. For more efficient electronic security system, middle-ware's role is very important to integrate the technology of electronic security system, this could make possible of installing the integrated security system.

• Asia pacific journal of information systems
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• v.17 no.2
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• pp.49-81
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• 2007

Research in the IS (Information Systems) outsourcing has focused on the importance of legal contracts and partnerships between vendors and clients. Without detailed legal contracts, there is no guarantee that an outsourcing vendor would not indulge in self-serving behavior. In addition, partnerships can supplement legal contracts in managing the relationship between clients and vendors legal contracts by itself cannot deal with all the complexity and ambiguity involved with IS outsourcing relationships. In this paper, we introduce a psychological contract (between client and vendor) as an important variable for IS outsourcing success. A psychological contract refers to individual's mental beliefs about his or her mutual obligations in a contractual relationship (Rousseau, 1995). A psychological contract emerges when one party believes that a promise of future returns has been made, a contribution has been given, and thus, an obligation has been created to provide future benefits (Rousseau, 1989). An employmentpsychological contract, which is a widespread concept in psychology, refers to employer and employee expectations of the employment relationship, i.e. mutual obligations, values, expectations and aspirations that operate over and above the formal contract of employment (Smithson and Lewis, 2003). Similar to the psychological contract between an employer and employee, IS outsourcing involves a contract and a set of mutual obligations between client and vendor (Ho et al., 2003). Given the lack of prior research on psychological contracts in the IS outsourcing context, we extend such studies and give insights through investigating the role of psychological contracts between client and vendor. Psychological contract theory offers highly relevant and sound theoretical lens for studying IS outsourcing management because of its six distinctive principles: (1) it focuses on mutual (rather than one-sided) obligations between contractual parties, (2) it's more comprehensive than the concept of legal contract, (3) it's an individual-level construct, (4) it changes over time, (5) it affects organizational behaviors, and (6) it's susceptible to organizational factors (Koh et al., 2004; Rousseau, 1996; Coyle-Shapiro, 2000). The aim of this paper is to put the concept, psychological contract commitment (PCC), under the spotlight, by finding out its mediating effects between legal contracts/partnerships and IS outsourcing success. Our interest is in the psychological contract commitment (PCC) or commitment to psychological contracts, which is the extent to which a partner consistently and deeply concerns with what the counter-party believes as obligations during the IS project. The basic premise for the hypothesized relationship between PCC and success is that for outsourcing success, client and vendor should continually commit to mutual obligations in which both parties believe, rather than to only explicit obligations. The psychological contract commitment playsa pivotal role in evaluating a counter-party because it reflects what one party really expects from the other. If one party consistently shows high commitment to psychological contracts, the other party would evaluate it positively. This will increase positive reciprocation efforts of the other party, thus leading to successful outsourcing outcomes (McNeeley and Meglino, 1994). We have used matched sample data for this research. We have collected three responses from each set of a client and a vendor firm: a project manager of the client firm, a project member from the vendor firm with whom the project manager cooperated, and an end-user of the client company who actually used the outsourced information systems. Special caution was given to the data collection process to avoid any bias in responses. We first sent three types of questionnaires (A, Band C) to each project manager of the client firm, asking him/her to answer the first type of questionnaires (A).

• Korean Journal of Poultry Science
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• v.8 no.2
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• pp.91-114
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• 1981

This research was carried out from July to August, 1981, to analyse the true state of management, the skill of production, the structure of consciousness about the selected 294 poultry$.$farms, and to know about their bottlenecks and suggestions. The results obtained were as follows: 1. As for manager's ages, 31 to 45 years old men rate was 67.76%. upper 50years old men 15.94%. 2. 79.9% of farm omen possess attainments equal to or higher than those of upper secondary school graduates. 3. In poultry farming career of the investigated person, layer chicken industry was longer than broiler. 4. Occupations of farm owners before. doing poultry farming were farmers(32.35%), company employees, civil servants and soldiers, etc. 5. 58.62% of the person ran only poultry farming and the rest of them held the additional office of a farmer and a public officer. 6. There were many people who made a speciality of poultry farming holding additional jobs as dairy farming, cultivating crops, gardening, etc. 7. 42.35% of the person began poultry farming with under 1,000 layer chickens. And the rate of the ones with 1,000-2,000 broilers for the first time consisted 40.95% 8. Present breeding scale was that the rate of the farmers having 5,000-10,000 layer chickens was 37.13% and the ones having 5,000-10,000 broilers 38.32%. 9. The rate of the person supplying self-labor was 23.16%, the person having 1.3 employees 51.47% and the ones having under 20 employees 1.47%. 10. 74.26% of the poultry farms used very good quality of baby chicks. 11. The rate of the farms which used chicken feed making the point of the quality of it was 65.47% and the ones which bought it on credit 26.62%. 12. 65.47% bought feed directly from factories and 26.62% bought it from commercial agents. 13. The rate of the layer chicken farms paying for feed in cash was 19.39% and the broiler farms 32.74%. Most of the farms bought feed on credit by 30-60 days. 14. They bought the medicine for chicken from animal drug stores or veterinary hospitals. 15. The rate of the person posting up accounts roughly was 47.52% and that of the ones doing them detaily was 43.57%, 40% did not do them because of bother and only 21.22% had their own cashbooks.

• Korea Journal of Hospital Management
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• v.11 no.1
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• pp.1-30
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• 2006

According to the available data, in these days, the number of medical accidents and disputes have significantly increased since 1990 in Korea. From this aspect, a variety of approaches and efforts to solve these problems is needed before it is too late. This study intended to identify the thoughts of patients who are directly connected with medical accidents and disputes and then to consider reasonable settlement methods of the increasing disputes. For achieving the purpose of this study, the self-administerd questionnaire was conducted with 450 out-patients who visited three university hospitals, five small and medium-sized hospitals, and ten clinics in Seoul from June 13 to 17, 2005. Incomplete questionnaires were omitted and 410 respondents(91%) were included for the analysis of this study. Each section of the survey was composed of six categories such as the recognition of malpractice, a compensation system about no-fault medical accidents, the recognition of the judgement of medical accidents in court, reasonable settlement of medical accidents, reasons of lawsuit, and the need of the medical dispute settlement organization. The major results of this study were as follows. First, more than half of the respondents, 51.9 percent, worry about malpractice. And many respondents think malpractice causes their symptoms to persist or become worse, and also some respondents think that the doctor's prescription changed too frequently. Second, as for a compensation system about no-fault medical accident, 55.7 percent of the respondents insist that a proper compensation for suffering patients or their families should be provided. And also as for the responsibility of compensation, respondents think joint compensation of both the medical institution and the government is needed foremost, followed by the medical insurance company and finally by the medical institution. The government as well as the related institutions should take responsibility for malpractice accidents for which the doctor is not responsible. Third, as for the acknowledgment of medical accident judgements by the court, 32.8 percent of respondents think that it is best to compromise with a medical institution, followed by lawsuit(26.2%), the assistance of civil organization(23.2%), and a powerful physical protest(7.6%). Fourth, as for the lawsuit of medical accidents, 62.9 percent of respondents think that patients and their families would be in a disadvantageous position in relation to medical institutions and doctors mentioning the lack of professional medical and lawful knowledge, experience and know-how as the reason. So many people have given up appeals owing to the difficulties involved in defending themselves through evidence. Fifth, about a half share of the respondents indicated that the medical institution's neglect of the responsibility of medical accidents is one of the most important reasons of lawsuit. And next respondents mentioned the lack of the medical dispute settlement organization and a general distrust of medical institutions and doctors. Sixth, a majority of respondents consented to the introduction of the need of the medical dispute settlement organization, And about a half of the respondents mentioned a readiness to accept the mediation of the organization, but the rest did not express a clear opinion. It seems that conflict among the parties concerned have existed in relation to the medical dispute settlement organization and related legislation for many years. But as this study has shown, the needs of the medical dispute settlement organization is in desperate demand. Therefore, more negotiation efforts from all interest groups should be considered for the birth of the medical dispute settlement organization and related legislation.

• Journal of the Korean Dietetic Association
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• v.8 no.3
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• pp.280-288
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• 2002

The purpose of this study was to investigate the operational characteristics of the contract-managed highschool foodservice and to analyze the factors to effect the menu price. The data was collected from 249 highschools in Seoul. The results are as follows; Those surveyed highschools were established as 1 national, 74 public, and 174 private institution. Highschools were classified as 176 academic, 66 vocational, and 7 specific purposed institution. Students were organized as 70 boys', 23 girls', and 41 coeducational highschools. Most highschool started contract-managed highschool foodservice from 1999 and the period of foodservice contract was most 3 years and the operation styles in food distribution were 96 classrooms, 105 dining halls and 17 classrooms combined dining halls. The scale of contract foodservice management companies was 63.1% small and medium and 36.9% large enterprises. The surveyed highschools had the average meal price 2,141 won per meal and they had 1,518 pupils on the register. The participating rate to the foodservice was 68.5%. The facilities investment cost of the contract foodservice management company was 179,204,230 won for private institutions and was 138,119,010 won for national&public institutions. The period of the contract was 3.22 years in private institutions, which was significantly higher than national&public institutions which showed 2.85 years. The commissary foodservice schools had higher facilities investment cost than conventional foodservice schools. Classrooms foodservice had higher participating foodservice rate than Dining halls. The investment cost for facilities showed high in order of girls', boys', and coeducational high schools, and the number on the register and the number participating in the foodservice showed high in order of boys', girls', and coeducational high schools. The number on the register showed the highest in academic and vocational schools, specific purposed institutions in sequence, and the number participating in the foodservice showed high in order of academic schools, specific purposed institutions and vocational. However, the participating foodservice rate showed high in specific purposed institution, academic and vocational schools in order, and the meal price, the investment cost for facilities showed high in specific purposed institution, academic and vocational schools in sequence. Regionally, the district south of Han river had the average meal price 2,266.13 won, which showed higher in the eastern part which had 2,033.33 won. The western part had the average investment cost for facilities of 233,331,060 won, and the central district 126,137,140 won. The number on the register showed 1845.68 in the eastern part and 1308.00 in Dong-Jak area, that had clear differences among areas. When the period of the contract went longer, the investment cost for facilities had a tendency to increase. The significant differences were existed among meal price, the investment cost for facilities, the number on the register, the number participating in the foodservice, and the participating foodservice rate. The investment cost for facilities had increased according to the number participating in the foodservice and the participating foodservice rate. And the large enterprises showed higher participating foodservice rate than the small and medium enterprises.

• Management & Information Systems Review
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• v.31 no.3
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• pp.223-248
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• 2012

This study analyses support policy and structural change of textile industry in Daegu Kyungbuk region, and suggests major issues for textile industry's innovation. In Daegu Kyungbuk, it was 1999 that a policy, so called Milano Project, in order to promote a textile industry was devised. In 2004, the Regional Industrial Promotion Plan was devised. The plan was born from a view point of establishing a regional innovation system and of promoting the innovative clusters under a knowledge based economy. After then, the Regional Industry Promotion Project or Regional Strategic Industry Promotion Project became a core of regional textile industrial policy. Research results indicated that the first stage Milano project (1999-2003) showed both positive and negative effects. There were no long-term development plan, clear vision and strategy. But, core industrial infrastructure for differentiated product development, such as New product Development Support Center and Dyeing Design Practical Application Center, was constructed. The second stage Daegu Textile Industry Promotion Plan (2004-2008) displayed a significant technological performance and new product sales with the assistance of Kyungbuk province. Also, textile industry revealed positive fruits such as financial structure, productivity, and profitability as a result of strong restructuring. In industrial structure, there was a important change from clothe textile material to industry textile material. Most of textile companies did not showed high capability in CEO's technology innovation intention, entrepreneurship, R&D and human resource competency in compare with other industry. We suggested that Daegu Kyungbuk has to select and concentrate on the high-tech textile material and living textile for sustainable development and competitiveness. We also proposed a confidence and cooperation based innovation network and company oriented innovation cluster.

• The Korean Journal of Financial Management
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• v.21 no.2
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• pp.27-63
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• 2004

Since the 1980s, many multinational corporations have been issuing stocks on foreign stock exchanges, not only to enhance their investor base and liquidity, but also to diversify risks. The phenomenon has also been intensified by the rapid financial globalization and securitization trends. The main purpose of this study is to look into the long-run performance of MNCs' cross-listings of stocks on foreign stock exchanges. We use the event study and cross-sectional regression methods. We obtained some interesting empirical results about the long-run effect of cross-listings. First before the listing data the effect of cross-listing is to increase the underlying stock Vice in the local market. It may be caused by expectation of lower risk and cost of capital. However, after the listing data the stock price has been declining, even if it is not significant. Second, we examine the difference in the long-run cross-listing effect, which may be caused by the listing direction. When listing is made from a less developed market to a more developed market, the effect is better than that in the reverse direction. Furthermore, the effect is worse, when the listing company's home country is the U.S. Third, there is a negative relation between CARs and underlying stock liquidity in the local market, So it implies that a firm, whose underlying stocks are very liquid in the local market should carefully value cross-listing based upon the cost and benefit analysis. Last, but not the least we find that the long-un cross-listing effect is better, when a listing firm's ROE is higher.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.181-208
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• 2010

In July 2007, Korean government has passed "The Capital Market and Financial Investment Services Act" to further develop the capital markets and the Act was to become effective in February 2009. Using a large sample of Korean firms, we have examined (i) the effect of underwriting activities on the firm value (bond spread) comparing commercial bank and investment bank, and (ii) the determinants of the firm value changes following underwriting activities of bank. To test our goal, we collected a wide range of samples of data for bond issuing activities executed by Korean firms listed on the Korea Stock Exchange (KSE) between 2000 and 2003. Our paper is distinguished from previous studies on this subject in a way that we analyzed the effect of corporate bond underwriting activities with regard to commercial banking and investment banking. Initially, we set up a hypothesis that "Certification View" and "Conflict-of-interest View" are major driving forces behind cross-firm differences in performance following bond issuance. We find that, in general, underwriting by investment bank (securities company) brings a positive effect on the firm value (spread between bench mark rate and bond issuing rate). This result indicates that firm value has been negatively affected by the bank underwriting and provides the evidence for "Conflict-of-interest View" in Korea. Our studies have also revealed that any change in firm value following bond issuance is positively related with the firm size (total asset), operating performance, liquidity (cashflow), and equity ownership by foreign investors. Overall, our results support the view that bank underwriting activities can play an important role in determining firm value and financial strategies under "The Capital Market and Financial Investment Services Act" of 2007.