• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• Journal of environmental and Sanitary engineering
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• v.8 no.2
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• pp.49-64
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• 1993

The present waste problems require a change of thinking with regard to conventional economics. It has been generally believed that competitive markets maximize social welfare. But, the other hand, a few economists argue that "the competitive markets cannot always be relied on to provide all goods in the efficient amount." One of the best examples of the latter contention is the environmental problem. What is the basic thinking of the conventional economics that causes this problems \ulcorner What is the present problem that requires the change of conventional economic thinking \ulcorner The environmental problem result from the conventional economic thinking such as pursuing the limitless of the Gross National Product(GNP), believing the increasing returns in economics of scale and the efficiency of competitive market. This economic principles, howe- ver, does not apply currently to public goods, especially environmental amenity and natural resource because the price of markets does not reflect the natural goods of services. We call this eternality. Externalizes are no considered by either buyers or sellers of goods of which production or use results in an eternality. This leads to market failure are causes an waste problem in the economic activities. Today, it is almost impossible to say in a word what the solution for waste problems is because they are by-products complicated and entangled human activities. In this paper, I have introduced the causes of environmental problems only from the economic point of view. I have also described the needs of conversion of conventional economic thinking. Firstly, sustainable development, maintaining the natural resources, should be the basis of the economic growth rather that pursuing the limitless growth of GNP. Secondly, an appropriate scale of human's production activity should be taken into account to reduce the impact to the natural environment. Thirdly, internalization of eternality is asked to correct the market failure. This requires the public policy such as imposing a talsubsidy, assigning a property right or implement a more detailed environmental quality standard through, because use of the natural resources can be. allocated optimally by the intervention of government or social associations.

• Proceedings of the Korean Society of Crop Science Conference
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• 1998.10a
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• pp.288-312
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• 1998

In Korea, chemical fertilizers and agricultural chemicals have had a significant impact on food production and these are today thought to be an indispensable part of modern agriculture. On the other hand, socioeconomical and IMF and WTO status in Korea are constant reminders of the vulnerability of our fossil fuel dependent agriculture. A new crop production system to improve economic, environmental and production efficiency must be exploited. Our particular concern has been given to an integrated cropping system involving recycling of crop residues, soil and N management, biological N fixation and multipurpose legumes. As a new integrated crop production system, a no-till direct-sown rice-vetch relaying cropping system has been proposed in this paper. The formulation of this system is based on the conception that N fertilizers being neither limitlessly available nor affordable, the current high-input crop production systems have produced troubled results severe labour shortage ill rural areas, balance of payment, environmental degradation and reduction of human health far exceed economic concerns. A natural and logical consequence is that long-term sustainability of agricultural systems must rely on the use and effective management of internal resources. Based on the information obtained throughout a series of experiments last years we have proved that the no-till direct-sown rice-vetch relaying cropping system dictates biological alternative which can augment, and in some cases replace, N fertilizers. Comprehensive discussions were made for the proposed system and it concluded that the system can offer an economically attractive and ecologically sound means of reducing external nitrogen input and improving the quality and quantity of internal resources, and consequently improving the farmers as well as the national returns.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.160-167
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• 2023

This study focuses on the development of a Last-Mile delivery service using unmanned vehicles to deliver goods directly to the end consumer utilizing drones to perform autonomous delivery missions and an image-based precision landing algorithm for handoff to a robot in an intermediate facility. As the logistics market continues to grow rapidly, parcel volumes increase exponentially each year. However, due to low delivery fees, the workload of delivery personnel is increasing, resulting in a decrease in the quality of delivery services. To address this issue, the research team conducted a study on a Last-Mile delivery service using unmanned vehicles and conducted research on the necessary technologies for drone-based goods transportation in this paper. The flight scenario begins with the drone carrying the goods from a pickup location to the rooftop of a building where the final delivery destination is located. There is a handoff facility on the rooftop of the building, and a marker on the roof must be accurately landed upon. The mission is complete once the goods are delivered and the drone returns to its original location. The research team developed a mission planning algorithm to perform the above scenario automatically and constructed an algorithm to recognize the marker through a camera sensor and achieve a precision landing. The performance of the developed system has been verified through multiple trial operations within ETRI.

• Journal of KIISE:Computing Practices and Letters
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• v.6 no.1
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• pp.68-81
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• 2000

CORBA Trader Service is to locate appropriate objects that provide the desired functionality at runtime. To provide this service, the Trader Service federates a local trader and remote traders by considering the Traders or Link policies, and it returns the service offers that are requested by the importer. This traditional way of trading reveals a performance problem due to the low response time. The response time largely depends on the amounts of service offers of the Importer's request and the frequency of federations with the other trader. The performance is a key factor for evaluating the Trader Service performance.In order to overcome the low response time and to provide the high-quality services, we propose new policies of Import and Trader, and present a PUTS(Push Trader Service) model which implements this new advanced trader service. We present the design and implementation of the PUTS's major modules, also make a comparison between PUTS system and traditional trader system in terms of performance and functionality through case studies.

• Fashion & Textile Research Journal
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• v.25 no.2
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• pp.165-174
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• 2023

This study analyzed the purchase status of athleisure wear and consumers' dissatisfaction with online shopping post-COVID-19. The target population comprised female consumers in their 20s to 50s who are interested in exercise and fashion. The study investigated differences according to age. It was found that athleisure wear was purchased once every two to three months and used as sportswear and/or daily wear. Purchase information was obtained via the Internet, and purchases were made online. Design, price, wear sensation, and textiles were the most important selection criteria, and T-shirts and leggings were the most frequently purchased garments. Additionally, textile characteristics such as moisture-absorbing and quick-drying as well as elasticity were evaluated as important. Online shopping of athleisure wear has increased since COVID-19 due to the time savings, low price, opportunity to compare several products, and delivery convenience. However, consumers were dissatisfied due to the differences between the screen image and the actual product, the inconvenience of returns, exchanges, and refunds, the lack of product information, product quality, and delivery. Furthermore, it was found that pursuing value of athleisure wear differed according to age. Consumers in their 20s and 30s required athleisure wear with the characteristics of sportswear and daily or urban wear and those in their 40s and 50s required garments with good performance as sportswear. Based on consumer feedback, it is necessary for manufacturers to provide product information that can improve product reliability.

• The Korean Journal of Financial Management
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• v.23 no.1
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• pp.135-163
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• 2006

Using a unique data set from a sample of 343 IPOs during the period from January 2001 to September 2003 in the KOSDAQ stock market, this paper investigates how a firm's pre-IPO relationship with a bank affects the firm's IPO underpricing phenomenon. Contrary to the findings by James and Wier (1990) using the U.S. data, we find no evidence that a pre-IPO banking relationship can help reduce IPO underpricing. On the other hand, we find that firms without pre-IPO banking and venture capitalist relationship have the smallest abnormal returns. Our results suggest that the KOSDAQ market participants positively perceive firms with pre-IPO banking and venture capitalist relationship as good quality firms and demand more issues when they go public. It also suggests that in the Korean IPO market, there has been over demand for issues of firms, which have had pre-IPO relationships with banks and venture capitalists.

• Journal of The Korean Association of Information Education
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• v.17 no.4
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• pp.475-486
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• 2013

Recent healthcare studies evaluate the effective impacts of a patient educational information intervention in hospitals on adherence to communicating knowledge, life quality, and therapeutic response in patients treated with highly active therapy in medical organizations. Therefore, the aim of this study is to design and implement the effective and systematic frameworks by providing clinical patient-oriented education system(CPES), which enhances health promotion and medical cures. CPES initiatives accelerate positive financial returns with network-driven educational system. To validate the CPES, the author analyzes the efficiency and effectiveness using statistical survey works. With this outcome, it is compared with previous system. One of the findings is that the system can improve compliance with treatment right dietetics and give patients self-manage their conditions in S hospital. Patients' acknowledge of their condition and its treatment process can be improved through the educational systems.

• Convergence Security Journal
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• v.23 no.3
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• pp.29-36
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• 2023

With the recent surge in exposure to fake advertising phishing sites in search engines, the damage caused by poor search quality and personal information leakage is increasing. In particular, the seriousness of the problem is worsening faster as the possibility of automating the creation of advertising phishing sites through tools such as ChatGPT increases. In this paper, the source code of fake advertising phishing sites was statically analyzed to derive structural commonalities, and among them, a detection crawler that filters sites step by step based on foreign domains and redirection was developed to confirm that fake advertising posts were finally detected. In addition, we demonstrate the need for new guide lines by verifying that the redirection page of fake advertising sites is divided into three types and returns different sites according to each situation. Furthermore, we propose new detection guidelines for fake advertising phishing sites that cannot be detected by existing detection methods.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.4
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• pp.1-34
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• 2010

Recently, failure rates of Kosdaq IPO firms are increasing and their survival rates tend to be very low, and when these firms do fail, often times backed by a number of governmental financial supports, they may inflict severe financial damage to investors, let alone economy as a whole. To ensure investors' confidence in Kosdaq and foster promising and healthy businesses, it is necessary to precisely assess their intrinsic values and survivability. This study investigates what contributed to the failure of IPO firms and analyzed how these elements are factored into corresponding firms' stock returns. Failure risks are assessed at the time of IPO. This paper considers factors reflecting IPO characteristics, a firm's underwriter prestige, auditor's quality, IPO offer price, firm's age, and IPO proceeds. The study further went on to examine how, if at all, these failure risks involved during IPO led to post-IPO stock prices. Sample firms used in this study include 98 Kosdaq firms that have failed and 569 healthy firms that are classified into the same business categories, and Logit models are used in estimate the probability of failure. Empirical results indicate that auditor's quality, IPO offer price, firm's age, and IPO proceeds shown significant relevance to failure risks at the time of IPO. Of other variables, firm's size and ROA, previously deemed significantly related to failure risks, in fact do not show significant relevance to those risks, whereas financial leverage does. This illustrates the efficacy of a model that appropriately reflects the attributes of IPO firms. Also, even though R&D expenditures were believed to be value relevant by previous studies, this study reveals that R&D is not a significant factor related to failure risks. In examing the relation between failure risks and stock prices, this study finds that failure risks are negatively related to 1 or 2 year size-adjusted abnormal returns after IPO. The results of this study may provide useful knowledge for government regulatory officials in contemplating pertinent policy and for credit analysts in their proper evaluation of a firm's credit standing.