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Research Framework for International Franchising (국제프랜차이징 연구요소 및 연구방향)

  • Kim, Ju-Young;Lim, Young-Kyun;Shim, Jae-Duck
    • Journal of Global Scholars of Marketing Science
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    • v.18 no.4
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    • pp.61-118
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    • 2008
  • The purpose of this research is to construct research framework for international franchising based on existing literature and to identify research components in the framework. Franchise can be defined as management styles that allow franchisee use various management assets of franchisor in order to make or sell product or service. It can be divided into product distribution franchise that is designed to sell products and business format franchise that is designed for running it as business whatever its form is. International franchising can be defined as a way of internationalization of franchisor to foreign country by providing its business format or package to franchisee of host country. International franchising is growing fast for last four decades but academic research on this is quite limited. Especially in Korea, research about international franchising is carried out on by case study format with single case or empirical study format with survey based on domestic franchise theory. Therefore, this paper tries to review existing literature on international franchising research, providing research framework, and then stimulating new research on this field. International franchising research components include motives and environmental factors for decision of expanding to international franchising, entrance modes and development plan for international franchising, contracts and management strategy of international franchising, and various performance measures from different perspectives. First, motives of international franchising are fee collection from franchisee. Also it provides easier way to expanding to foreign country. The other motives including increase total sales volume, occupying better strategic position, getting quality resources, and improving efficiency. Environmental factors that facilitating international franchising encompasses economic condition, trend, and legal or political factors in host and/or home countries. In addition, control power and risk management capability of franchisor plays critical role in successful franchising contract. Final decision to enter foreign country via franchising is determined by numerous factors like history, size, growth, competitiveness, management system, bonding capability, industry characteristics of franchisor. After deciding to enter into foreign country, franchisor needs to set entrance modes of international franchising. Within contractual mode, there are master franchising and area developing franchising, licensing, direct franchising, and joint venture. Theories about entrance mode selection contain concepts of efficiency, knowledge-based approach, competence-based approach, agent theory, and governance cost. The next step after entrance decision is operation strategy. Operation strategy starts with selecting a target city and a target country for franchising. In order to finding, screening targets, franchisor needs to collect information about candidates. Critical information includes brand patent, commercial laws, regulations, market conditions, country risk, and industry analysis. After selecting a target city in target country, franchisor needs to select franchisee, in other word, partner. The first important criteria for selecting partners are financial credibility and capability, possession of real estate. And cultural similarity and knowledge about franchisor and/or home country are also recognized as critical criteria. The most important element in operating strategy is legal document between franchisor and franchisee with home and host countries. Terms and conditions in legal documents give objective information about characteristics of franchising agreement for academic research. Legal documents have definitions of terminology, territory and exclusivity, agreement of term, initial fee, continuing fees, clearing currency, and rights about sub-franchising. Also, legal documents could have terms about softer elements like training program and operation manual. And harder elements like law competent court and terms of expiration. Next element in operating strategy is about product and service. Especially for business format franchising, product/service deliverable, benefit communicators, system identifiers (architectural features), and format facilitators are listed for product/service strategic elements. Another important decision on product/service is standardization vs. customization. The rationale behind standardization is cost reduction, efficiency, consistency, image congruence, brand awareness, and competitiveness on price. Also standardization enables large scale R&D and innovative change in management style. Another element in operating strategy is control management. The simple way to control franchise contract is relying on legal terms, contractual control system. There are other control systems, administrative control system and ethical control system. Contractual control system is a coercive source of power, but franchisor usually doesn't want to use legal power since it doesn't help to build up positive relationship. Instead, self-regulation is widely used. Administrative control system uses control mechanism from ordinary work relationship. Its main component is supporting activities to franchisee and communication method. For example, franchisor provides advertising, training, manual, and delivery, then franchisee follows franchisor's direction. Another component is building franchisor's brand power. The last research element is performance factor of international franchising. Performance elements can be divided into franchisor's performance and franchisee's performance. The conceptual performance measures of franchisor are simple but not easy to obtain objectively. They are profit, sale, cost, experience, and brand power. The performance measures of franchisee are mostly about benefits of host country. They contain small business development, promotion of employment, introduction of new business model, and level up technology status. There are indirect benefits, like increase of tax, refinement of corporate citizenship, regional economic clustering, and improvement of international balance. In addition to those, host country gets socio-cultural change other than economic effects. It includes demographic change, social trend, customer value change, social communication, and social globalization. Sometimes it is called as westernization or McDonaldization of society. In addition, the paper reviews on theories that have been frequently applied to international franchising research, such as agent theory, resource-based view, transaction cost theory, organizational learning theory, and international expansion theories. Resource based theory is used in strategic decision based on resources, like decision about entrance and cooperation depending on resources of franchisee and franchisor. Transaction cost theory can be applied in determination of mutual trust or satisfaction of franchising players. Agent theory tries to explain strategic decision for reducing problem caused by utilizing agent, for example research on control system in franchising agreements. Organizational Learning theory is relatively new in franchising research. It assumes organization tries to maximize performance and learning of organization. In addition, Internalization theory advocates strategic decision of direct investment for removing inefficiency of market transaction and is applied in research on terms of contract. And oligopolistic competition theory is used to explain various entry modes for international expansion. Competency theory support strategic decision of utilizing key competitive advantage. Furthermore, research methodologies including qualitative and quantitative methodologies are suggested for more rigorous international franchising research. Quantitative research needs more real data other than survey data which is usually respondent's judgment. In order to verify theory more rigorously, research based on real data is essential. However, real quantitative data is quite hard to get. The qualitative research other than single case study is also highly recommended. Since international franchising has limited number of applications, scientific research based on grounded theory and ethnography study can be used. Scientific case study is differentiated with single case study on its data collection method and analysis method. The key concept is triangulation in measurement, logical coding and comparison. Finally, it provides overall research direction for international franchising after summarizing research trend in Korea. International franchising research in Korea has two different types, one is for studying Korean franchisor going overseas and the other is for Korean franchisee of foreign franchisor. Among research on Korean franchisor, two common patterns are observed. First of all, they usually deal with success story of one franchisor. The other common pattern is that they focus on same industry and country. Therefore, international franchise research needs to extend their focus to broader subjects with scientific research methodology as well as development of new theory.

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Chinese Communist Party's Management of Records & Archives during the Chinese Revolution Period (혁명시기 중국공산당의 문서당안관리)

  • Lee, Won-Kyu
    • The Korean Journal of Archival Studies
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    • no.22
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    • pp.157-199
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    • 2009
  • The organization for managing records and archives did not emerge together with the founding of the Chinese Communist Party. Such management became active with the establishment of the Department of Documents (文書科) and its affiliated offices overseeing reading and safekeeping of official papers, after the formation of the Central Secretariat(中央秘書處) in 1926. Improving the work of the Secretariat's organization became the focus of critical discussions in the early 1930s. The main criticism was that the Secretariat had failed to be cognizant of its political role and degenerated into a mere "functional organization." The solution to this was the "politicization of the Secretariat's work." Moreover, influenced by the "Rectification Movement" in the 1940s, the party emphasized the responsibility of the Resources Department (材料科) that extended beyond managing documents to collecting, organizing and providing various kinds of important information data. In the mean time, maintaining security with regard to composing documents continued to be emphasized through such methods as using different names for figures and organizations or employing special inks for document production. In addition, communications between the central political organs and regional offices were emphasized through regular reports on work activities and situations of the local areas. The General Secretary not only composed the drafts of the major official documents but also handled the reading and examination of all documents, and thus played a central role in record processing. The records, called archives after undergoing document processing, were placed in safekeeping. This function was handled by the "Document Safekeeping Office(文件保管處)" of the Central Secretariat's Department of Documents. Although the Document Safekeeping Office, also called the "Central Repository(中央文庫)", could no longer accept, beginning in the early 1930s, additional archive transfers, the Resources Department continued to strengthen throughout the 1940s its role of safekeeping and providing documents and publication materials. In particular, collections of materials for research and study were carried out, and with the recovery of regions which had been under the Japanese rule, massive amounts of archive and document materials were collected. After being stipulated by rules in 1931, the archive classification and cataloguing methods became actively systematized, especially in the 1940s. Basically, "subject" classification methods and fundamental cataloguing techniques were adopted. The principle of assuming "importance" and "confidentiality" as the criteria of management emerged from a relatively early period, but the concept or process of evaluation that differentiated preservation and discarding of documents was not clear. While implementing a system of secure management and restricted access for confidential information, the critical view on providing use of archive materials was very strong, as can be seen in the slogan, "the unification of preservation and use." Even during the revolutionary movement and wars, the Chinese Communist Party continued their efforts to strengthen management and preservation of records & archives. The results were not always desirable nor were there any reasons for such experiences to lead to stable development. The historical conditions in which the Chinese Communist Party found itself probably made it inevitable. The most pronounced characteristics of this process can be found in the fact that they not only pursued efficiency of records & archives management at the functional level but, while strengthening their self-awareness of the political significance impacting the Chinese Communist Party's revolution movement, they also paid attention to the value possessed by archive materials as actual evidence for revolutionary policy research and as historical evidence of the Chinese Communist Party.

A Study of Establishing the Plan of Lodging for the Workers of Gaesung Industrial Complex (개성공단 근로자 기숙사 건립 계획 연구)

  • Choi, Sang-Hee;Kim, Doo-Hwan;Kim, Sang-Yeon;Choi, Eun-Hee
    • Land and Housing Review
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    • v.6 no.2
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    • pp.67-77
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    • 2015
  • Now that it is the current situation that the smooth supply and demand are necessary for 2nd phase of beginning construction and stable development of Gaesung Industrial Complex, this study was willing to offer the planning criteria and model to establish the lodging for the workers in Gaesung Industrial Complex based on the agreement that both South and North Korea agreed in 2007. Regarding the plan, its standard and the alternative were reviewed considering welfare of workers, economic efficiency, technical validity, possibility of agreement and long-term development. The exclusive area per capita was calculated through Labor Standards Act of Korea and status survey of lodging for the workers provided to border line area between China and North Korea and the economic alternative based on one room for 6 persons with the public restroom was compared with that of development type based on one room for 4 persons with indoor restroom. Especially regarding the proposed site, the area with the optimized position was set by considering gradient, accessibility and convenience of development out of the area of Dongchang-ri where was agreed already and the priority of the proposed site that can keep the existing building site and provide was offered. The necessary period for whole construction was set as approximately 36 months. Regarding construction method, RC Rahmen method was selected as the optimized alternative considering the workmanship of manpower of North Korea and conditions of supply and demand of materials and cluster-type vehicle allocation plan based on 4~6 units considering the efficiency of supplying service facilities and convenient facilities along the simultaneous accommodation of 15,000 people was offered. It was analyzed that total business expenses of approximately 80~100 billion Korean Won would required though there were the difference for each alternative in the charged rental way that the development business owner develops by lending the inter-Korea Cooperation Fund and withdraws the rent by the benefit principle. The possibility of withdrawing the rent was analyzed assuming that the period of withdrawing the investment is 30 years. Especially for the operation management after moving, the establishment of the committee of operating the lodging for the workers of Gaesung Industrial Complex (tentative name) was offered with the dualized governance that the constructor takes charge of operational management, collecting fees and management of infrastructure and human resource management is delegated to North Korea.

Outpatient Chest Tube Management with Using a Panda Pneumothorax Set with a Heimlich Valve (Panda Pneumothorax Set with Heimlich Valve에 의한 외래에서의 흉관 관리)

  • Choi, Soon-Ho;Lee, Mi-Kyung;Ryu, Dae-Woong
    • Journal of Chest Surgery
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    • v.42 no.4
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    • pp.497-501
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    • 2009
  • Background: Prolonged air leakage and pleural fluid drainage from a chest tube may delay removing the chest tube after a patient undergoes video-assisted thoracoscopic wedge resection and the patient is otherwise ready for discharge. We reviewed 37 outpatients patients who were being managed with a postoperative chest tube (a Panda Pneumothorax set with a Heimlich valve). Material and Method: From January 2005 to December 2007, 294 patients underwent video-assisted thoracoscopic wedge resections & pleurodesis. Of them, 37 patients met the criteria for outpatient chest drainage management with using a Panda Pneumothorax set with a Heimlich valve. The patients received written instructions, and they demonstrated competence with using the Panda system. The patients returned for chest tube removal after satisfactory resolution of their air leak and pleural fluid drainage. Result: The patients discharged with a Panda pneumothorax set had a longer duration of hospital stay (mean: 10.3$\pm$1.7 days, range: 11 to 17 days) as compared with the patients without a Panda pneumothorax set (mean: 6.2$\pm$1.5 days, range: 4 to 7 days). The chest tube was removed successfully from the patients with a Panda pneumothorax set at an average of 9.8$\pm$1.6 days (range: 9$\sim$18 days) after discharge. There were no major complications. Four patients experienced minor complications. Thirty six patients (97.3%) experienced uneventful and successful outpatient chest tube management. Conclusion: Successful postoperative outpatient chest tube management with using the Panda set was accomplished in 36 selected patients. This program resulted in a substantially reduced hospital cost and enhanced patient satisfaction by allowing earlier discharge.

The Effect of Information Service Quality on Customer Loyalty: A Customer Relationship Management Perspective (정보서비스품질이 고객로열티에 미치는 영향에 관한 연구: 고객관계관리 관점)

  • Kim, Hyung-Su;Gim, Seung-Ha;Kim, Young-Gul
    • Asia pacific journal of information systems
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    • v.18 no.1
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    • pp.1-23
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    • 2008
  • As managing customer relationship gets more important, companies are strengthening information service using multi-channels to their customers as a part of their customer relationship management (CRM) initiatives. It means companies are now accepting such information services not as simple information -delivering tools, but as strategic initiatives for acquiring and maintaining customer loyalty. In this paper, we attempt to validate whether or not such various information services would impact on organizational performance in terms of CRM strategy. More specifically, our research objective is to answer the next three questions: first, how to construct the instruments to measure not information quality but information service quality?; second, which attributes of information service quality can influence corporate image and customer loyalty?; finally, does each information service type have unique characteristics compared with others in terms of influencing corporate image and customer loyalty? With respect to providing answers to those questions, the previous studies had been limited in that those studies failed to consider the variety of types of information service or restricted the quality of information service to information quality. An appropriate research model answering the above questions should consider the fact that most companies are utilizing multi channels for their information services, and include the recent strategic information service such as customer online community. Moreover, since corporate information service could be regarded as a type of products or services delivered to customer, it is necessary to adopt the criteria for assessing customer's perceived value when to measure the quality of information service. Therefore, considering both multi-channels and multi-traits may enable us to tell the detailed causal routes showing which quality attributes of which information service would affect corporate image and customer loyalty. As information service channels, we include not only homepage and DM (direct mail), which are the most frequently applied information service channels, but also online community, which is getting more strategic importance in recent years. With respect to information service quality, we abstract information quality, convenience of information service, and timeliness of information service through a wide range of relevant literature reviews. As our dependant variables, we consider corporate image and customer loyalty that both of them are the critical determinants of organizational performance, and also attempt to grasp the relationship between the two constructs. We conducted a huge online survey at the homepage of one of representative dairy companies in Korea, and gathered 367 valid samples from 407 customers. The reliability and validity of our measurements were tested by using Cronbach's alpha coefficient and principal factor analysis respectively, and seven hypotheses were tested through performing correlation test and multiple regression analysis. The results from data analysis demonstrated that timeliness and convenience of homepage have positive effects on both corporate image and customer loyalty. In terms of DM, its' information quality was represented to influence both corporate image and customer loyalty, but we found its' convenience have a positive effect only on corporate image. With respect to online community, we found its timeliness contribute significantly both to corporate image and customer loyalty. Finally, as we expected, corporate image was revealed to provide a great influence to customer loyalty. This paper provides several academic and practical implications. Firstly, we think our research reinforces CRM literatures by developing the instruments for measuring information service quality. The previous relevant studies have mainly depended on the measurements of information quality or service quality which were developed independently. Secondly, the fact that we conducted our research in a real situation may enable academics and practitioners to understand the effects of information services more clearly. Finally, since our study involved three different types of information service which are most frequently applied in recent years, the results from our study might provide operational guidelines to the companies that are delivering their customers information by multi-channel. In other words, since we found that, in terms of customer loyalty, the key areas would be different from each other according to the types of information services, our analysis would help to make decisions such as selecting strengthening points or allocating resources by information service channels.

Effect of Temperature and Dissolved Oxygen on the Survival Rate and Physiological Response of the Warty Sea Squirt Styela clava (수온과 용존산소 변화에 따른 미더덕 Styela clava의 생존율 및 생리적 반응)

  • Shin, Yun Kyung;Park, Jung Jun;Park, Mi Seon;Myeong, Jeong In;Hur, Young Baek
    • Korean Journal of Environmental Biology
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    • v.32 no.3
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    • pp.216-224
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    • 2014
  • Decrease in dissolved oxygen concentrations associated with temperature fluctuation is an important criteria to evaluate the mortality rate of the species. Based on this parameter, we investigated the survival rate, physiological response and histological change of warty sea squirt. It was found that the survival rate of the warty sea squirt species was 63.3% at $23^{\circ}C$ and 56.6% at $26^{\circ}C$ respectively. However, exposure of six days at $29^{\circ}C$ caused deaths among species, which indicated the 6day-$LT^{50}$ of the tested species to be $24.58^{\circ}C$ ($19.48{\sim}35.48^{\circ}C$). Further, after 11 day of exposure, the dissolved oxygen concentration has been found to decrease, with the survival rate of 20% at $4.0mg\;L^{-1}$ and deaths at $2.0mg\;L^{-1}$, thus 11day-$LC^{50}$ calculated to be $3.88mg\;L^{-1}$ ($3.29{\sim}4.57mg\;L^{-1}$). In addition, decrease in rate of oxygen consumption and excretion of ammonia was also noted at this critical water temperature and dissolve doxygen concentration. Moreover, there has been common histopathological changes were observed in warty sea squirt's gill pouch, digestive tract, and tunic as follows such as: proliferation of epithelial cells, condensation and necrosis, permeation of phagocyte and blood cell, loss of cilium and muscular fiber degeneration. Based on our study results, we suggest that these parameters can also be useful to evaluate the survival rate and physiological response in other species.

Validation of the Developed Nutritional Screening Tool for Hospital Patients (입원환자를 위해 개발된 영양검색 도구의 타당성 검증)

  • Lee, Jeong-Sook;Cho, Mi-Ran;Lee, Geum-Ju
    • Journal of Nutrition and Health
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    • v.43 no.2
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    • pp.189-196
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    • 2010
  • Malnutrition has been associated with higher hospital costs, mortality, rates of complications and longer length of hospital stay. Several nutritional screening tools have been developed to identify patients with malnutrition risk. However, many of those require much time and labor to administer and may not be applicable to a Korean population. Therefore, the aim of this study was to develop nutritional screening tool for Korean inpatients. Then we compare nutritional screening tools that developed and previously described. Seven hundred sixty-four patients at hospital admission were screened nutritional status and classified as well nourished, malnutrition stage 1 or stage 2 by the KNNRS (Kyunghee Neo Nutrition Risk Screening), PG-SGA (Patient-Generated Subjective Global Assessment) and NRS-2002 (Nutritional Risk Screening-2002). The KNNRS, PG-SGA and NRS-2002 respectively classified 28.7%, 51.3%, 48.5% of patients as malnourished status. Compared to the PG-SGA, the KNNRS had sensitivity 60.7% (95% CI 54.2-67.0) and specificity 81.2% (95% CI 75.3-85.2). Agreement was fair between KNNRS and PG-SGA (k = 0.34). Compared to the NRS-2002, the KNNRS had sensitivity 57.8% (95% CI 53.4-60.9) and specificity 64.4% (95% CI 60.2-69.8). Agreement was poor between KNNRS and NRS-2002 (k = 0.18). These result should include that the KNNRS and PGSGA have clinical relevance and fair concordance. However the rate of malnourished patients by KNNRS were less than by PG-SGA. For more effectivity of nutritional screening and management, the criteria of KNNRS would be better revised.

Study on the Stability Evaluation of Concrete Erosion Control Dam by using Non-destructive Test for Compressive Strength (콘크리트 비파괴시험법을 이용한 사방댐 안정도 평가에 관한 연구)

  • Park, Ki-Hyung;Kim, Min-Sik;Joh, Sung-Ho;Lee, Chang-Woo;Youn, Ho-Joong;Kim, Kyong-Ha
    • Journal of Korean Society of Forest Science
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    • v.102 no.1
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    • pp.90-96
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    • 2013
  • This study was conducted to investigate a stability trend within 6 above average and 4 blow average erosion control dams, which were selected by The Korean Association of Soil and Water Conservation and were built in 1990s in Gyeonggi and Gangwon Province. The study was aimed to measure rebound hardness of upstream face, flood way and downstream face from those dams selected by using 'Concrete Test Hammer'. The main purposes of the study are selection of compression strength prediction equation and scope of wavelength, which successfully demonstrate non-destructive test results for erosion control dams. There is an opportunity to increase disaster prevention ability when stability vulnerability of concrete erosion control dam is detected in a timely manner. Results of the compression strength investigation express that there is a consistency with visual inspection of stability that has been processed by The Korean Association of Soil and Water Conservation. We concluded that a prediction equation, which was developed by Architectural Institute of Japan (AIJ), shows highest suitability in Korean erosion control dams when stability investigation is performed. The detailed criteria for the test result are 'stable', 'detail inspection required' and 'poor' for over 300 $kgf/cm^2$, 250~300 $kgf/cm^2$ and below 250 $kgf/cm^2$ respectively. Standards for stability of Korean erosion control dam and a compression strength prediction equation (that corresponds to the standards of the stability) should be established on the basis of chronological data of erosion control dam compression strength. Systematical approach for stability inspection that carries out remodeling or repair when problem on erosion control structures are detected through visual inspection and simple stability test, is necessary for the future disaster prevention.

Estimation and Adjustment Model Considering Time Value of Money for Long-Term Maintenance Cost of Apartment House (시간적 가치를 고려한 공동주택 장기수선충당금 산정 및 조정 모델)

  • Koo, Seonkeun;Kim, Jonghyeob;Jun, Inyeong;Kim, Yeongjin;Yoon, Yousang;Hyun, Changtaek
    • Korean Journal of Construction Engineering and Management
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    • v.18 no.3
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    • pp.12-21
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    • 2017
  • From 1960, the government decided to build apartment houses on a large scale in order to resolve the rising housing problems. However, the maintenance issues that have arisen from the deterioration of housing has not received adequate attention. The policy focuses only on the supply of housing. By passing new laws, the durable period during which buildings allowed reconstruction was increased, and long term maintenance plans were treated as important issues. The government was then obligated to establish certain long term maintenance plans and costs by legislating a Housing Act and requiring it be adjusted every three years. However, when planning long-term repair costs, doing so without considering the time value of money would become a problem. In addition, if differences between the planned repair costs and actual costs occur, it becomes necessary to adjust the long-term repair costs but, as of yet, the criteria to adjust such things does not exist. For these reasons, if there is lack of money to execute large-scale repair work, a building is unlikely to respond to deterioration of housing; on the other hand, an unnecessary reserve or pool of money can lead to conflict among residents. Therefore, this paper will propose estimation and adjustment models considering the time value of money for long term maintenance costs of apartment houses.

Unbilled Revenue and Analysts' Earnings Forecasts (진행기준 수익인식 방법과 재무분석가 이익예측 - 미청구공사 계정을 중심으로 -)

  • Lee, Bo-Mi;Park, Bo-Young
    • Management & Information Systems Review
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    • v.36 no.3
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    • pp.151-165
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    • 2017
  • This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

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