• Journal of Information Technology Services
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• v.13 no.3
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• pp.183-200
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• 2014

Online brand communities have become a major component of marketing strategy given that these communities encourage participation and share the culture of Web 2.0 core concepts to Internet users. This study investigated the effects of social capital and knowledge quality on the success of online brand communities. A research model suggests that trust among members and the identification derived from social capital theory and knowledge quality influence individual community participation; knowledge quality also influences brand trust. In turn, community participation and brand trust develop brand loyalty. The model was empirically analyzed using structural equation modeling with data from online brand community members in Korea. The results indicate that identification and knowledge quality significantly affects brand trust and brand loyalty through community participation. This study provides a basis for developing a success model for online brand communities. Also, this study identifies a new role of knowledge quality in an online brand community context.

• 한국벤처창업학회:학술대회논문집
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• 2023.11a
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• pp.69-71
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• 2023

The Modigliani-Miller Proposition II (MM2) is a cornerstone in the field of corporate finance, positing that in a frictionless environment with perfect capital markets, the cost of equity capital is linearly related to a firm's leverage. This paper critically re-evaluates this proposition, particularly examining the determination of the cost and value of equity. We find that under specific circum-stances, especially when the value of a tax shield is influenced by endogenous variables, the cost and value of equity may be ambiguous. This calls into question the universal applicability of MM2. Our research offers new perspectives on the theoretical underpinnings of financial management and underscores the significance of situational factors in the practical application of these theories.

• Journal of Digital Convergence
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• v.10 no.4
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• pp.181-190
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• 2012

Cost of capital is one of the key factors of accounting regulation policy for telecommunication market. This paper aims at investigating efficient policy improvements concerning accounting regulation for telecommunication market focused on cost of capital calculation methods and its application. At First, cost of capital estimating method should be improved. In estimating the cost of equity capital, it is necessary to use benchmark method for Equity risk premium. It will reduce analytical errors caused by a rapid economic change and inflation. It is also more desirable to use debt premium adding method for the cost of debt capital. Optimal capital structure method may be considered a better way to estimates capital structure. Secondly, cost of capital estimating process also has to be reformed. Telecommunication industry changes rapidly so it does not reflect fast environmental changes. Therefore, cost of capital should be calculated every year. Cost of capital should be calculated by individual companies. There is information asymmetry between regulators and regulatees. Because of that cost of capital calculating process takes long time and cost a lot. To solve this problem, regulator should legislate on cost of capital calculation and then regulating companies report the calculating result. Lastly, major telecommunication companies are all listed now and it is possible to calculating it separately. We must continuously improve the estimating method and application of cost of capital and due to the fast growing of telecommunication industry. The process of determining the calculating method must be discussed and best method chosen.

• Journal of the Korean Regional Science Association
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• v.9 no.1
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• pp.45-63
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• 1993

University enrollment has long been regarded as one of the major factors inducing population concentration in Seoul and the Capital Region of Korea. Consequently, since early 1980's increases in enrollment and new establishments of extention universities beyond the boundary of Seoul, has been promoted, while university enrollment quota in Seoul has been strictly controlled. The degree of actual population dispersal, however, resulting from such a university enrollment policy has not been empirically tested. This paper aims at: First, identifying the trend of population growth and evolution process of the university enrollment policy in the Capital Region; Second, comparing the degree of influence of university enrollment on population concetration factors; Third, measuring actual effect of the enrollment control on population dispersal out of Seoul and the Capital Region. Major findings are as follows: First, only a week correlation between population and university enrollment growth trends was found; Second, the relative degree of influence on population concentration in the Capital Region, were order, in the order of magnitude, the physical amenity factor, the socio-cultural amenity factor, the employment climate factor and the educational factor. Third, and most improtant, based on the comparison of spatial distribution of graduated high schools and current residence of the selected university students, the gap between the two distributions was revealed and the inter-regional student population movement was estimated. The result shows that in Seoul's case about one-half of and in Kyunggi Province's case about one-fifth of university enrollment size, contributes to population concentration into Seoul. Fourth, as to the universities outside of the Capital Region, little effect in the case of universities located within the commuting distance, and a little effect on population dispersal in the case of universities located beyond commuting distance, were found. In sum, it seems clear that university enrollment policy in the Capital Region, especially in Inchon/Kyunggi Province has not been effective on student population dispersal out of Seoul and the Capital Region. Therefore, it is strongly recommended that university enrollment policy be throughly re-examined from its goal to the implementation means.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.6
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• pp.101-108
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• 2014

The creation of new venture firm has been regarded as a key of creating more job opportunities and discovering new value engines for various industries. It is positively expected that venture capitals play an important role of supporting the process. Nevertheless, there is a scant of research efforts to analyze empirical data for understanding cross-correlations between investment of venture capital and new venture foundation. To fill the gap, this study investigated sets of time-series data from 1998 to 2014 in the context of South Korean economy. The results reveal that venture capitals have contributed significantly to the quantitative increase of venture firms. In addition, the findings show that the creation of new venture fails to yield a direct impact on resolving young unemployment problems in short term. The paper contributes to the research community on new venture foundation by providing insightful views.

• STI Policy Review
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• v.5 no.1
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• pp.75-97
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• 2014

Entrepreneurial financing, such as publicly initiated venture capital or grant schemes, serves as an important policy instrument that aims to bridge the financing gap facing young, innovative businesses, a gap that is mainly due to higher risk and growing uncertainty, and to strategically promote the creation of new ventures through the revitalization of their venture capital industries. This study examines public venture capital initiatives in Australia, Canada, and Sweden, and discovered that all three countries actively foster their venture capital industry through the formation of funds or the provision of tax incentives. It is notable that the majority of financing initiatives heavily depend on supply-side measures rather than demand-driven policies that focus on stimulating private investment in technological innovations and discoveries. This paper discusses in-depth the policy impact of public financing initiatives and their subsequent side-effects raised in the process such as overlapping in funding structure across the country, lack of monitoring and evaluation for feedback, fragmentation across the government ministries and agencies, and competition with the private sector, which may cause inefficiency as a result of public intervention. Financial constraints may arise for many reasons, partly resulting from the lack of investment readiness of young entrepreneurs. This signals a policy shift towards the creation of market-driven demand away from the traditional supply-push approach, and is a grand challenge to policymakers in entrepreneurial financing. Attention is leaning towards the efficiency and effectiveness of these public-financing initiatives in terms of their policy roles. It is worth noting that policy should focus on generating synergy so available resources can be channeled into the early, risky stage of new ventures, working as facilitator to the achievement of an intended policy goal.

• Culinary science and hospitality research
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• v.18 no.4
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• pp.118-132
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• 2012

The purpose of this study is to present the psychological capital as a leading factor affecting organizational commitment, to determine the role of job satisfaction as a mediator among those, and finally to find the way to increase the commitment by suggesting a new idea for human resources management in the foodservice firms which were having difficulties in finding new employees and in high turnover rates. A survey was conducted on the employees in foodservice firms including both franchise management and direct management restaurants for the period of the month of February 2012, and the data were analyzed with frequency analysis, reliability test, exploratory factor analysis, confirmatory factor analysis, correlation analysis, path analysis, and mediating effect analysis by using SPSS 15.0 and AMOS 7.0. As a result of the study, the psychological capital factors such as hope, resiliency, and optimism had significant effects on organizational commitment, and job satisfaction strongly mediated the relations of the psychological capital factors as presented above and the organizational commitment.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.230-236
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• 2017

The recent domestic construction market is in a difficult situation due to reduction of the government's SOC budget and new orders from public-sector, and the deterioration of housing supply situation in the private sector etc. In addition, the number of disasters in the construction industry has increased in recent years with 26,570 people (up 5.7% from the previous year) in 2016, unlike other industries that are in a declining trend. As such, the construction industry has unique characteristics and problems such as high industrial accidents rate, abnormal subcontracting structure, excessive working hours and work intensity. As a result, the construction workers have a lot of job stresses. Job stress has been recognized as one of the major causes of industrial accidents and many researches have been conducted on that. However, most of the researches were about the factors that induce job stress and how these factors affect disaster occurrence, job satisfaction, job performance, turnover intentions, and job exhaustion. The purpose of this study is to investigate the effect of positive psychological capital on job stress, which is emerging as a new human resources development paradigm useful in corporate management in order to find ways to reduce job stress. To do this, 347 data collected from construction workers in Daejeon, Sejong, and Chungcheong provinces were analyzed using statistical package(IBM SPSS 22) for basic statistical analysis, reliability analysis, and regression analysis. As a result, positive psychological capital has shown an alleviate effect on job stress. In particular, the higher the optimism, hope, and resiliency of positive psychological capital, the lower the job stress. However, the higher the self - efficacy, the higher the job stress.

• Journal of Korean Clinical Nursing Research
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• v.26 no.3
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• pp.327-336
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• 2020

Purpose: The purpose of this study was to describe changes in positive psychological capital, organizational commitment and burnout according to work periods for new nurses. Methods: A longitudinal study was done using surveys of 91 nurses from a tertiary hospital located in Seoul, South Korea. Data were collected from these newly graduated nurses during the period from July 2018 to September 2019, three times (2 months, 4 months and 6 months after starting to work). Results: Hope of positive psychological capital decreased after 6 months of work (F=7.11, p=.001) and organizational commitment decreased after 4 months of work (F=15.30, p<.001). Factors influencing participants' burnout included the optimism of positive psychological capital and continuance of organizational commitment. These factors explained 51.3% of the variance in burnout (F=48.47, p<.001). Conclusion: Organizational support for new nurses is urgently needed. It is necessary to develop programs to strengthen the positive psychological capital of newly graduated nurses to reduce their burnout and to help their job adaptation.

• Korean System Dynamics Review
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• v.14 no.4
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• pp.113-141
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• 2013

The main purpose of this research is to introduce PsyCap(Positive Psychological Capital) and new leadership helping ordinary people to create positive thinking and leading to social integration in South Korea. Additionally, by looking at conventional leadership theories and by applying the PsyCap to leadership based on causal loop analysis, this study is to seek new approach which political leader is able to communicate with the people and can help the people to build positive mine. Throughout this study, there are several important implications how political leader can lead to social integration and stable political development in South Korea. In particular, when political leader encourage the people to have confidence to take on and put in the necessary effort to succeed at challenging tasks, when political leader make the people a positive attribution (optimism) about succeeding now and in the future, when political leader help the people to persevere toward goals and redirection paths to goals (hope) in order to succeed, and when political leader make the people beset by problems and adversity environment to overcome these concerns, it can be expected political leader to build social integration and the people to create positive thinking which has been emphasized by political leader in South Korea. Finally, 21st century has required new political leadership that the people are able to make positive psychological capital composed by optimism, hope, confidence, and resilience.