• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.25-34
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• 2019

Purpose - In this study, we would like to analyze how the general characteristics of retired senior citizens affect directly the satisfaction of retirees' lives. As the life cycle continues to grow longer, post-retirement environment is recognized as important, and this study is conducted to analysis the factors that concerns which parts influence future retirement life. Research design, data, and methodology - First, Pearson's correlation analysis was conducted to analyze the correlation between the satisfaction of retirement life and the characteristics of the elderly. Secondly, a one-way analysis of variance was conducted to find out the difference in the satisfaction level of post-retirement life depending on the characteristics of the elderly. Results - First, the demographic factors for the satisfaction of retirement life have shown a definite difference. Second, the family factors for the satisfaction of retirement life have shown a clear difference. Third, financial factors for the satisfaction of retirement life have shown a clear difference. Conclusions - Early retirement, especially in major jobs, is the basis for incomplete retirement preparation, which is a factor in unstable later life. If a prospective retiree can retire in a predictable retirement age, it would be sufficient to prepare for retirement in various areas, or to prepare for further directions.

• The Journal of the Convergence on Culture Technology
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• v.6 no.4
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• pp.267-274
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• 2020

This study examines the relationship between retirement preparation, positive psychological capital and successful aging for retirees and retirees, promotes successful aging of retirees and retirees, and increases positive psychological capital to increase desirable retirement time. I want to find a direction I can have. This study was conducted on 537 retirees and retirees who were preparing for retirement or retired from across the country as a structural relationship analysis, and the data collection period was from April 1 to April 20, 2019. As for the data, frequency analysis, correlation analysis, and structural relationship analysis were performed using SPSS 20.0 and AMOS 9.0. As a result of the study, retirement preparation of retirees and retirees had a negative relationship with successful aging, and retirement readiness had a positive effect on self-acceptance of successful aging and autonomous life as mediators of resilience of positive psychological capital and self-efficacy. This means that the positive psychological factors of positive psychological capital have a positive effect on retirees and retirees who are struggling with anxiety about retirement preparations, enabling a successful retirement life. Therefore, when operating a retirement preparation program, it is necessary to organize and operate a program that can expand positive psychological capital.

• 한국벤처창업학회:학술대회논문집
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• 2017.08a
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• pp.15-35
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• 2017

The purpose of this research is to investigate the factors which effect the intention to reemploy after the retirement and the mediation effect of the social capitalism for retired and prospective retired baby boomers. Starting from 2010, baby boomers have been retiring at a large scale. However retirement at a large scale without securing provision for fiancial wise in later life can lead to many issues regarding social and fiancial wise such as instability of labour market and increase of spending in society welfare cost and such on. Change of individual's self prospective and institutional support to help prepare find new career for next 3decade after the retirement needs to be concretized. Also, while in the work force, potential retiring baby boomer workers should be systematically supported with education, training and reemployment program based on individual's career orientation and allowing them to stay for a longer period in the labour market can be the implication to the solution for the economic stability and increasing social cost such as public pensions.

• Safety and Health at Work
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• v.11 no.3
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• pp.291-300
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• 2020

Background: The study aimed to determine the association of individual cognitive ability in late midlife with labor market participation among older workers. Methods: This prospective cohort study estimates the risk of long-term sickness absence, disability pension, early retirement, and unemployment from scores on the Intelligenz-Struktur-Test 2000R by combining data from 5076 workers from the Copenhagen Aging and Midlife Biobank with a register on social transfer payments. Analyses were stepwise adjusted for age, gender, physical and psychosocial work environment, health behaviors, occupational social class, education, and chronic diseases. Results: In the fully adjusted model, low cognitive ability (≥1 standard deviation below the mean for each gender) and high cognitive ability (≥1 standard deviation above the mean for each gender) were not associated with risk of any of the four labor market outcomes. Conclusion: Individual cognitive ability in late midlife was not associated with risk of long-term sickness absence, disability pension, early retirement, and unemployment in the fully adjusted model. Thus, no direct effect of individual cognitive ability in late midlife was observed on the risk of permanently or temporarily leaving the labor market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.5
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• pp.231-245
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• 2024

While the large-scale retirement of the second baby boomers is predicted, new beginnings such as re-employment and start-up of prospective retirees who attempt to switch careers before and after retirement based on the skills and expertise accumulated in the industrial field are very important in terms of society. Therefore, this study established a research model based on Shapero's start-up event model, a representative theory explaining start-up intention and behavior. In the direct variable affecting the start-up motivation of prospective retirees, factors affecting positive (+) and negative (-) factors In order to comprehensively grasp it, family support and the burden of failure were set as parameters to verify the effect of these factors on the intention to start a business. As a result, a positive (+) influence relationship was found on the effect of the retiree's start-up motivation on the burden of failure, the start-up motivation on the family support, the start-up motivation on the start-up intention, and the family support on the start-up intention. It was found that the start-up motivation had a positive (+) effect on the start-up intention through family support. In other words, for prospective retirees, who are mainly middle-aged, the threshold for start-up has been very low due to technological advances, but nevertheless, family support was found to be a very important factor in the conditions of investing retirement funds and capital, which are important in family relationships. However, it was confirmed that the burden of failure had a negative (-) effect on the start-up intention, and the loss of investment and fear of repayment of the loan appeared as a large burden. Accordingly, it is proposed that prospective retirees who are considering starting a business be able to thoroughly prepare for a start-up through the support of their families, and to operate a specialized outplacement start-up education program that can learn about raising funds and efficient management of funds. It is expected to systematically support retirees' preparation for start-ups, reduce the burden of failure, and ultimately increase the likelihood of a successful start-up.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.49-63
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• 2020

Purpose - This study aims to assess six aspects of resident satisfaction (satisfaction with room, home, social interaction, meals service, staff care, and resident involvement) and to identify the most influential aspect of satisfaction upon word-of-mouth (WOM) intention in a continuing care retirement community (CCRC). Design/methodology/approach - A total of 293 paper survey questionnaires with a cover letter and postage paid envelopes were mailed to the CCRC residents. To test reliability and validity of the multidimensional resident satisfaction, exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) were used. Then, the structural equation modeling technique (SEM) was applied to test causal relationship between resident satisfaction and WOM intention. Multiple regression was used to identify the most influential aspect of resident satisfaction on WOM intention in the CCRC. Findings - The results of EFA and CFA on the 157 responses received out of the total 293 surveys indicated that six dimensions of resident satisfaction were statistically distinct. Among the six dimensions, satisfaction with resident involvement, social interaction, and staff care significantly influenced their WOM intention. Furthermore, the most influential aspect of satisfaction upon WOM intention was resident involvement. Research implications or Originality - This study empirically tested the six dimensions of CCRC resident satisfaction, and identified resident involvement as the most influential factor upon WOM intention in a CCRC where WOM intentions plays a crucial role during the selection process of prospective residents.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.5
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• pp.177-189
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• 2017

The purpose of this research is to investigate the factors which effect the intention to reemploy after the retirement and the mediation effect of the social capitalism for retired and prospective retired baby boomers. Starting from 2010, baby boomers have been retiring at a large scale. However retirement at a large scale without securing provision for fiancial wise in later life can lead to many issues regarding social and fiancial wise such as instability of labour market and increase of spending in society welfare cost and such on. Change of individual's self prospective and institutional support to help prepare find new career for next 3decade after the retirement needs to be concretized. The results of this study suggest that the management orientation affects the social capital positively and the autonomous orientation does not affect the relationship between career orientation and social capital. In terms of the relationship between career orientation and reemployment intention, management orientation does not affect the intention of the entrepreneur but affects the reemployment intention positively, while the autonomous intention affects neither entrepreneurial intention nor reemployment intention (+), Respectively. Social capital has a positive effect on the intention of reemployment, and the mediating effect of social capital on the relationship between career orientation and reemployment. Also, while in the work force, potential retiring baby boomer workers should be systematically supported with education, training and reemployment program based on individual's career orientation and allowing them to stay for a longer period in the labour market can be the implication to the solution for the economic stability and increasing social cost such as public pensions.

• IE interfaces
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• v.24 no.3
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• pp.173-186
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• 2011

In this paper, we evaluate life annuity plans for Korean pre-retired single and married couple participating Korea National Pension (KNP) and find optimal life annuity strategy by using utility-based measurements called AEW (Annuity Equivalent Wealth). Specifically, we extend a previous study to obtain a detailed optimal combination of annuitizing age and wealth in terms of percentage of net wealth at the time of retirement. A nonlinear optimization model is formulated with the objective of maximizing utility on consumption and bequest, and the dynamic programming (DP) technique is used to solve this problem. We find that there exist consistent patterns in optimal combinations of annuitizing age and wealth. Also, for all cases the optimal combination is significantly better than several other combinations. The results indicate that using the optimal approach can be beneficial to practitioners in insurance industry and prospective purchasers of life annuity. We conclude the paper with some discussions and suggestions.

• Journal of Industrial Convergence
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• v.22 no.1
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• pp.75-84
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• 2024

This study aims to provide basic data for improved the level of subjective health awareness in the physical and mental aspects of prospective seniors by verifying the effect of self-esteem of pre-elderly on subjective health awareness and the mediating effect of interpersonal skills. For the analysis, data were collected through a survey of 270 prospective seniors aged 55 and over to 64 years old, who participated in the prospective elderly program operated by social welfare institutions in the metropolitan area, from February 16 to March 16, 2023, and SPSS WIN 25.0 and PROCESS MACRO were used. Frequency analysis, descriptive statistics analysis, and correlation analysis were conducted as analysis methods, and the mediating effect of interpersonal ability was verified through structural equation analysis, and the main analysis results are as follows. First, it was found that the self-esteem of the pre-elderly had a positive (+) effect on subjective health perception. Second, interpersonal ability showed a mediating effect in the relationship between self-esteem and subjective health perception of pre-elderly. Based on these results, it is significant in that it presents basic data for a successful and active retirement life in the future old age.

• Journal of Digital Convergence
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• v.22 no.1
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• pp.33-38
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• 2024

In recent years, as more and more middle-aged people who worked at companies are retiring, they are becoming interested in starting their own businesses, and the rate of middle-aged people starting businesses is increasing. The purpose of this study was to analyze the quality and satisfaction of educational services and trust in educational institutions in providing entrepreneurship education to prospective entrepreneurs over the age of 40 who want to start a business, and to analyze the impact of entrepreneurship education on entrepreneurship in the future. Afterwards, the goal is to establish an education strategy to improve the quality of entrepreneurship education. To achieve the purpose of the study, a hypothesis was established and an empirical analysis was conducted on educated prospective entrepreneurs and retirees over 40 years of age. As a result of the analysis, it was confirmed that confidence and reliability ultimately influence the factors that increase satisfaction with entrepreneurship education for middle-aged and older people. Satisfaction was found to play a meaningful role in trust. The research points out that entrepreneurship education institutions should provide education centered on the trainees rather than entrepreneurship education centered on support organizations. Moreover, due to the diversity of education, not only the content and method of education but also the education of employees working in supporting organizations is important.