• The Journal of Industrial Distribution & Business
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• v.12 no.11
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• pp.9-16
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• 2021

Purpose: Carbon emissions have now become a major concern around the world, especially for the government and private sector. Unfortunately, in Indonesia, disclosure related to company carbon emissions is still done voluntarily. This research aims to provide empirical evidence on the effect of environmental performance, carbon emission disclosure, and carbon emission intensity on the cost of equity capital. Research design, data, and methodology: This research uses secondary data with a sample consisting of Indonesia companies that are sensitive to the environment and listed on the Indonesia Stock Exchange in 2017-2019. The analytical tool used in this research was multiple regression models. Result: The study found a carbon emission disclosure had a significant positive effect on the cost of equity capital. Carbon emission intensity and company size had a significant negative effect on the cost of equity capital. Meanwhile, environmental performance did not have a significant effect on the cost of equity capital. Conclusion: Therefore, the results of this research are expected to provide feedback to the company's stakeholders that environmental performance and carbon emissions are some of the points seen by investors in making investment decisions.

• Health Policy and Management
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• v.4 no.1
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• pp.77-106
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• 1994

This study attempts to evaluate the beneficial equity and operational efficiency of the three Korean medical insurance programmes and thereby suggest directions for their policy improvement. Concepts of the equity and effciency were reviewed to develop indicators for comparative analysis. For the analysis, statistical and financial accounting data for 1991, issued by the National Federation of Medical Insurance and the Korea Medical Insurance Corporation, on the operational status and performances of the programmes, were collected and rearranged to be suited to the purpose of the study. The analysis reveals that beneficial inequity exists between self-employed and employee programs. and that operational inefficiency is prominent in both programms for self-employeds and for Government employees and private school teachers. In order to improve the beneficial inequity of the self-employed program, it is suggested that policies be formulated and implimented toward increasing the program revenue through increasing subsidies from the Government, and through inter- program finance adiustment. For the operational inefficiency of the two programs, it is judged that, toghether with the administrative support and control from the Government and the insurance society bodies, self- efforts be initiated to improve the internal mangement styles and systems of the insurance societies. Finally, from the viewpoint of the structural efficiency, expansion of the preventive insurance benefits by the insurance soceties is recommended both for beneficial equity and operational efficiency.

• Journal of the Korean association of regional geographers
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• v.18 no.1
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• pp.86-100
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• 2012

This study examines turnover intentions of social workers in the public and private sectors from a comparative perspective. Major findings of this study are as follows: 1. There exists a paradox between public and private social workers that private social workers show their turnover intentions more saliently than public social workers, even though the former is paid much less, but more satisfied with their jobs, and then expresses turnover intentions more often than the latter. 2. The 'voice hypothesis' can be an alternative explanation to figure out why the paradoxical difference exists between the two groups of social workers when we include the mechanism of empowerment into the equations regarding social workers' turnover intentions and job satisfaction. 3. The equity theory of motivation can explain the paradoxical difference if we make use of the meaning of the 'equity' formula which stands for the ratio between inputs and outputs exerted by the social workers.

• Journal of Arbitration Studies
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• v.24 no.3
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• pp.33-46
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• 2014

Amiable composition is a means of dispute resolution based on the arbitrator's authority to base his decision on equity. Although this method has been used frequently in the last decades of the 20th Century, the number of the published awards by amiable compositeur arbitrators is getting lower and lower. The reason(s) for unpopularity of amiable composition should be sought in its very nature, in its relationships with other institutions such as arbitration in law, equity, ex aequo et bono arbitration, other means of dispute resolution and in its role in the development of the rules specific to international commerce. A brief look at the history of law shows that the concept of equity comes to the scene every time that the rigidity of the rules of law challenges the justice. This has been the case in the 20th Century with respect to international commercial law which was deprived of specific rules. The role of amiable composition has been to contribute to the development of the rules specific to international commerce. The progressive codification of such rules in the last decades is also owed to amiable composition, which has accomplished its mission in the evolution of these rules.

• The Korean Journal of Financial Studies
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• v.3 no.1
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• pp.233-265
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• 1996

We examine the impact of public and private information on price movements using the thirty DJIA stocks and twenty-one NASDAQ stocks. We find that the standard deviation of daily returns on information days (dividend announcement, earnings announcement, insider purchase, or insider sale) is much higher than on no-information days. Both public information matters at the NYSE, probably due to masked identification of insiders. Earnings announcement has the greatest impact for both DJIA and NASDAQ stocks, and there is some evidence of positive impact of insider asle on return volatility of NASDAQ stocks. There has been considerable debate, e.g., French and Roll (1986), over whether market volatility is due to public information or private information-the latter gathered through costly search and only revealed through trading. Public information is composed of (1) marketwide public information such as regularly scheduled federal economic announcements (e.g., employment, GNP, leading indicators) and (2) company-specific public information such as dividend and earnings announcements. Policy makers and corporate insiders have a better access to marketwide private information (e.g., a new monetary policy decision made in the Federal Reserve Board meeting) and company-specific private information, respectively, compated to the general public. Ederington and Lee (1993) show that marketwide public information accounts for most of the observed volatility patterns in interest rate and foreign exchange futures markets. Company-specific public information is explored by Patell and Wolfson (1984) and Jennings and Starks (1985). They show that dividend and earnings announcements induce higher than normal volatility in equity prices. Kyle (1985), Admati and Pfleiderer (1988), Barclay, Litzenberger and Warner (1990), Foster and Viswanathan (1990), Back (1992), and Barclay and Warner (1993) show that the private information help by informed traders and revealed through trading influences market volatility. Cornell and Sirri (1992)' and Meulbroek (1992) investigate the actual insider trading activities in a tender offer case and the prosecuted illegal trading cased, respectively. This paper examines the aggregate and individual impact of marketwide information, company-specific public information, and company-specific private information on equity prices. Specifically, we use the thirty common stocks in the Dow Jones Industrial Average (DJIA) and twenty one National Association of Securities Dealers Automated Quotations (NASDAQ) common stocks to examine how their prices react to information. Marketwide information (public and private) is estimated by the movement in the Standard and Poors (S & P) 500 Index price for the DJIA stocks and the movement in the NASDAQ Composite Index price for the NASDAQ stocks. Divedend and earnings announcements are used as a subset of company-specific public information. The trading activity of corporate insiders (major corporate officers, members of the board of directors, and owners of at least 10 percent of any equity class) with an access to private information can be cannot legally trade on private information. Therefore, most insider transactions are not necessarily based on private information. Nevertheless, we hypothesize that market participants observe how insiders trade in order to infer any information that they cannot possess because insiders tend to buy (sell) when they have good (bad) information about their company. For example, Damodaran and Liu (1993) show that insiders of real estate investment trusts buy (sell) after they receive favorable (unfavorable) appraisal news before the information in these appraisals is released to the public. Price discovery in a competitive multiple-dealership market (NASDAQ) would be different from that in a monopolistic specialist system (NYSE). Consequently, we hypothesize that NASDAQ stocks are affected more by private information (or more precisely, insider trading) than the DJIA stocks. In the next section, we describe our choices of the fifty-one stocks and the public and private information set. We also discuss institutional differences between the NYSE and the NASDAQ market. In Section II, we examine the implications of public and private information for the volatility of daily returns of each stock. In Section III, we turn to the question of the relative importance of individual elements of our information set. Further analysis of the five DJIA stocks and the four NASDAQ stocks that are most sensitive to earnings announcements is given in Section IV, and our results are summarized in Section V.

• Journal of Distribution Research
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• v.17 no.5
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• pp.85-111
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• 2012

Introduction : The purpose of this study was to examine the relationship between perceptual characteristics of consumers and intent of relational continuance for PB(Private Brand) products in discount stores. This study was conducted as an empirical study based on survey. For the empirical study, factors of PB products as characteristics perceived by consumers such as perceived quality, store image, brand image and perceived value were deduced from preceding studies. The effect of such factors on intent of relational continuance mediated by brand trust and brand equity of PB products was structurally examined. Research Model : Based on theory analysis and hypotheses, constructed a Structural Equation Model(SEM). The research model is shown in Figure 1. Research Method : This paper is based on s qualitative study of selected literature and empirical data. The survey for empirical study was carried out on consumers in Gyeonggi and Busan between January 2012 and May 2012. 300 surveys were distributed and 253 (84.3%) of them were returned. After excluding omissions and insincere responses, 245 surveys (81.6%) were used for final analysis as effective samples. Result : First of all, the Reliability was carried out for instrument used. The lower limit of 0.7 for Cronbach's Alpha as suggested by Hair et al. (1998). And Construct validity was established by carrying out exploratory factor analysis by Varimax rotation for all. Four factor result for the consumer's perceptual characteristics of PB Products, two mediating factors and one dependent factor. All constructs included in research framework have acceptable validity and reliability. Table 1 shows the factor loading, eigen value, explained variance and Cronbach's alpha for each factor. In order to assure validity of constructs, I implemented Confirmatory Factor Analysis (CFA), using AMOS 20.0. In confirmatory factor analysis, researcher can take control over the specification of indicators for each factor by hypothesizing that a specific factor is loaded with the relevant indicators. Moreover, CFA is particularly useful in the validation of scale for the measurement of specific construct. CFA result summarized Table 2 shows that the fit measures of all constructs fulfill the recommended level and loadings are significant. To test causal relationship between constructs in the research model, used AMOS 20.0 that provides a graphic module as method for analysing Structural Equation Modeling. The result of hypothesis test is shown in Table 3. As a result of empirical study, perceived quality, brand image and perceived value as selected attributes for PB products showed significantly positive (+) effect on brand trust and brand equity. Furthermore, brand trust and brand equity showed significantly positive (+) effect on intent of relational continuance. However, store image of discount stores selling the PB products was analyzed to have positive (+) effect on brand trust and no significant effect on brand equity. Discussion : Based on the results of this study, the relationship between overall quality, store image, brand image and value perceived by consumers about PB products and intent of relational continuance was structurally verified as being mediated by brand trust and brand equity. Looking at the results, a strategic approach that maximizes brand trust and equity value for PB products by large discount stores is required on top of basic efforts to improve quality, brand image and value of PB products in order to maximize consumer's intent of relational continuance and to continuously attract repeated purchase of products.

• Health Policy and Management
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• v.18 no.4
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• pp.185-206
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• 2008

The National Health Insurance (NHI) has been the main body of health care system in Korea for the last 30 years since the NHI was founded. However, the inefficient management and strong regulations of the NHI have hindered the development of health care industry. The establishment of the MB government, whose interest lies on economic growth rather than equity, is expected to help the health care services gain a momentum. The essential measures that can step up public health care services overall are the following: the introduction of competition within NHI, the activation of private health care insurance, and the allowance of for-profit hospital. The private-public mix with market mechanism would level up the health care service for the public.

• Proceedings of the KSR Conference
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• 2011.05a
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• pp.1572-1581
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• 2011

Since 'The Act on Private Investment of The Infrastructure' was established in 1994, private investment as well as government's investment has been active on transport infrastructure. But investment of transport infrastructure has more risks than others due to overforecast of transport demand for ensuring project validity, and cost uncertainty arising from financial crisis, commodity prices and so on. In the case of Incheon international airport express, after 2 years and 6 months, Incheon international airport express is opened, Korail take over equity stake in private investor due to the problems of MRG(Minimum Revenue Guarantee) be contracted with private investor. Not only that, in other case of Yong-in light rail, it is ongoing for legal disputes between Yong-in local government and private investor on account of opening delaying. On current Investment Assessment System of Transport Infrastructure, Risk Management system on investment of transport infrastructure is inadequate because Sensitivity Analysis in economic efficiency have been performed on the simple method which only changes benefits, expense and social discount rate. For this reason, this study analyze risks for investment of transport infrastructure demand forecast, and rise to the management practice for every particular item.

• Journal of Distribution Science
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• v.16 no.12
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• pp.23-31
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• 2018

Purpose - The purpose of this study was to set brand awareness and brand image as independent variables from Keller's (1993) definition of brand equity and to analyze whether those variables have an influence on customer satisfaction and customer loyalty with perceived quality and value as mediator variables. Research design, data, and methodology - Data is collected through questionnaires from 200 of responders. Survey respondents were young people who use convenience stores. Questionnaires were tested in October 2017. SPSS and AMOS were used for structural equation as an analysis method. Results - The analysis results specified above can be summarized as follows: 1) Brand awareness had statistically significant influence on perceived quality and perceived value; 2) Brand image had a positive (+) influence on perceived quality and had no significant influence on perceived value; 3) Perceived quality and perceived value had a significant influence on customer satisfaction, and customer satisfaction had a statistically significant influence on customers' repurchase intention. Conclusions - Brand awareness and brand image had an influence on young consumers' decision-making process for purchasing PB food products. Convenience stores have to focus on developing food products with brand awareness and brand image more suitable for satisfying consumer preferences.

• Korean Journal of Health Education and Promotion
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• v.15 no.2
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• pp.217-233
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• 1998

This paper analyzed four different perspectives on health care reform in Korea in terms of the basic values, formulated problems and reform plans, implementation methods, and supporting groups. The medical security plan was insisted by social security specialists and social activists focusing on the integration of medical insurance coops in order to enhancing equity and right of the people. However, its perspective was limited to promoting security instead of reforming health care system. The government proposed the health care reform plans in 1994 and in 1997, focusing on promoting efficiency by remedying many problems in health care delivery system. However, its implementation was not successful due to the lack of organizational and financial supporters. Recently, two opposite proposals were issued. The market reform plan paid attention to revitalizing the market function to promoting efficiency by allowing hospitals to treat private patients instead of applying the medical insurance regulation. The government reform plan focused on intensifying governmental planning and intervention in the health care sector in order to removing inefficiency and promoting equity with the supports of social activists and labor unions. Finally, this paper proposed an alternative plan to promote harmonious social relationship between actors in the health care system.