• The Journal of Fisheries Business Administration
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• 제26권1호
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• pp.79-104
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• 1995

Dividend Policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the attainment of firm's objective. This paper is to examine the present status of dividend policy of the Pusan Cooperative Fish Market, and to suggest the optimal dividend policy decisions appropriate for achieving its objective, which is to promote the fishermen's benefits and protect the interest of consumers. There are two types of dividend that the Pusan Cooperative Fish Market pays to the equity owners : (1) dividend on capital and (2) equalized patronage dividend. During'90s, while the rate of dividend on capital ranged from 1.7% to 2.8%, that of equalized patronage dividend ranged from 13.9% to 22.9%. Therefore, the rate of total dividend on capital including revolving funds has been about 20%, which turns out to be much higher than those of companies listed in the stock market. According to the current dividend data, the Pusan Cooperative Fish Market focuses on the equalized patronage dividend and the dividen on capital is the secondary type of dividend. In addition, the interesting feature of equalized patronage dividend is that it is supposed to be reinvested into capital by the Articles of the Fish Market, as soon as the Fish Market pays it to its members. Finally, this paper suggests the rational dividend policy of the Fish Market that is able to help its objective to be achidved more efficiently. The overall direction of the rational dividend policy can be summarized as follows ; (1) The level of cash dividend on capital should be increased enough to reflect the market interest rate. (2) The subsidy of working capital to some member fisheries cooperatives as quasi- dividend should be cut off steadily. (3) The equalized patronage dividend should be replaced by the original patronage dividend whose level is determined by the volume of each member's purchase. (4) In the long-term, it is necessary to improve the system of revolving funds in the way that revoloving funds could serve to complement equity capital for only a fixed time, after which they ard repaid to the members.

• Korean Journal of Construction Engineering and Management
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• 제14권1호
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• pp.52-62
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• 2013

Owners' efforts to acquire Green building certification, which started in 2002, have been rapidly increasing since 2006. The causes of the increased owners' interests are due to various incentives, legal obligation, and purpose of advertising. As project owners generally are deficient in capabilities and knowledge on how to deal with administrative works on certification, they tend to fulfill the minimum requirements for certification. However, effective administration process need capabilities of identifying individual making decision point and review information. The implementation of green building certification system is expected to provide comfort to both occupants and potential users. Furthermore it contributes to reducing energy costs throughout the phase of O&M. In addition, technology innovation in green industry can be obtained. Therefore, this study is intended to support owners in order that they can clarify certification tasks and make a rational decision-making in time. For this purpose, first of all, the major decision points were selected as the gateways of green building certification process. And then management system based on IDEF3 modeling was developed for supporting owners' decision-making performance. This management system will improve owners' overall capacity in handling all the tasks regarding the certification of Green building.

• Korean Journal of Construction Engineering and Management
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• 제6권5호
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• pp.89-101
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• 2005

The early phase of construction projects, communication among the related participants has great influence on the further transaction of the projects. However, important decision making are made by the experience of the field managers in practice without the method for systematic analysis. For example, in building construction project, selection process for construction method has been executed by decision making of some architects dependent on their experience. As a result, there have been frequent construction method alterations during the construction process and delay of duration, addition of cost, etc have followed accordingly. The main reasons of such a mal-functional transaction are due to the absent of the reasonal procedure of decision making reflecting the characteristics of construction project. Therefore, there is a need for an supporting tool and production design for the selection of rational construction method. The objective of this study is to propose production design process and decision making model in relation to various influent factors at the early phase of construction projects. To achieve these objectives, this study 1)analyzes the prior theory about production design, 2)we have studied about selection process for optimal construction method through constraint analysis in structural works, 3)performs a case study to embody the problems of the production design, and 4)proposes a cooperative committee model for supporting production design by analyzing the results of case study and interviewing experts. It is anticipated that the effective tool of proposed model would be able to improve communication among the related participants and systematically accumulate data that might be used in similar construction projects.

• Journal of Korean Home Economics Education Association
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• 제25권1호
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• pp.1-14
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• 2013

The purpose of the study was investigated on that whether there was any statistical difference or not in terms of the career decision making according to the growth environment of High school students. The researcher surveyed 600 questionnaires for high school students and was using 539 questionnaires in the final analysis. They were analyzed by cluster analyses according to the growth environment scale and it classified into two cluster groups. The cluster group A and B had a significant difference on scores of the growth environment scale. The group A had more interested in activities such as political, social, intellectual, and cultural ones and participated at social and leisure activities. Moreover, the group was emphasis on moral and religious values. The group B got the higher score than group A about the score of the rational type of the career decision making: the group A got the higher score than the group B to the score of the dependent type. On the matter of the job information collection sub-scale, the group A got the higher score than the group B: the group A scored higher points than group B about the goal establishment and the self-estimate sub-scales. Therefore, in order to do the career-guidance of youths, each family had to provide positive growth environment which required various stimuli and affluent in experience settings for them to mature.

• Korean small business review
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• 제31권1호
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• pp.73-88
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• 2009

This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

• Journal of Distribution Science
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• 제13권11호
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• pp.69-77
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• 2015

Purpose - Economic status at an early stage of life after one's retirement is often determined by the long-term sacrifice of one's earlier consumption tendencies. In general, the first and foremost way to secure income after retirement is through annuity savings. People sign up for personal annuity savings in order to guarantee a stable economic life upon retirement, and such actions may be heavily influenced by self-efficacy. Confidence in current economic activity is a source of rational decision-making. Inability to achieve self-control can lead to reckless spending and the eventual hindering of proper investment for the future. This paper examines how self-efficacy and self-control affect the intention and action of enrolling in an annuity savings plan in relation to one's level of financial literacy. Research design, data, and methodology - To analyze the proposed model, this study investigates financial consumers over the age of 20. The data were collected from 511 respondents and analyzed with SPSS 21.0 and AMOS 21.0. First, for the one-dimensional test and to measure the convergent validity of each structure, we use the scale purification process. The results of the test and the confirmatory factor analysis ensure the focus of the validity of the single dimension for each structure. In addition, the validity of the measurement was guaranteed from the results of correlation analysis. Results - First, self-efficacy and self-control have positive effects on the purchasing intention of the personal annuity savings plan. Second, purchasing intention positively affects purchasing behavior. Lastly, self-control has a positive effect on purchasing intention among the low financial literacy group, whereas self-efficacy does not have this effect in the high financial literacy one. Conclusions - The time of product benefit is different with age. The younger group would be granted the savings after several decades once they enroll, whereas the older group would wait for a relatively shorter period of time. Therefore, further research should be conducted in order to verify such a difference. However, this study has value through its confirmation that the roles of self-efficacy and self-control play a part in leading to the enrollment in annuity savings plans and by verifying different effects based on levels of financial literacy. Such results suggest a number of implications in a real life setting. First, banks need to put greater emphasis on the stability of annuity savings in general. Second, customers with relatively low levels of financial literacy are able to control their finances through annuity savings, but find self-efficacy difficult due to a lack of financial understanding. Therefore, such customers should be approached from an invest-effectiveness comparison method. Third, customers with high financial literacy tend to put more value in rational economic decision-making and behavior than in self-efficacy. Therefore, such customers should be approached by promoting the reliability of annuity savings and the excellence of the specific bank's annuity savings plan in comparison to those of other financial institutions.

• Cartoon and Animation Studies
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• 통권31호
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• pp.91-116
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• 2013

The accessibility and effect of cartoon on children are very significant. Since cartoon is a medium of conveying information through text and pictures, it has a characteristic of being easily approached by children than any other medium. Its accessibility to children is inevitably more exceptional than any other medium in the sense that it is a method of not only telling or reading stories but also showing stories. The main audience of is children. It has a characteristic of being easily accepted by children since it's mythology seen in cartoon than read in text. However, gods conducts are full of unethical expressions. Sexual expressions of intermarriages between mother and son, between brother and sister and between uncle and niece, as well as extramarital intercourse are very unethical that could have negative effects on children. This study analyzed the unethical expressions of gods that could have negative effects on children at current point in time. Zeus was often unfaithful to his wife with many stories about the children of Zeus that were created from extramarital intercourse. Standard of value on rational decision has been established for adult readers, but children can readily accept things since they lack their own rational decision on what's right and wrong. As an alternative to children's uncritical observatory study, there is a need for author's intervention to help children form desirable values. The purpose of this study is to analyze the sexual expressions of Zeus and gods in that could affect children's social study.

• Science of Emotion and Sensibility
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• 제14권2호
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• pp.279-292
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• 2011

This research explores the differences of two consumption behaviors from the thinking style they elicit. Specifically, we predict that more utilitarian attributes(vs. hedonic attributes) may be used when evaluating utilitarian products whereas more hedonic attributes(vs. utilitarian attributes) may be used when evaluating hedonic products. In addition, this research considered two different thinking styles: rational thinking style and experiential thinking style, and try to find out whether different product attribute information could elicit different thinking style and whether the thinking style has any effect on product evaluation. The data reported in this research demonstrates the following results. Firstly, people use different criteria when judging different types of product. That is, when judging utilitarian product, they are more likely to use utilitarian attribute as evaluation criteria, on the contrary they inclined to use hedonic attribute as evaluation criteria when choosing hedonic product. Secondly, different types of attribute informations could elicit different thinking style. Utilitarian attribute informations elicit rational thinking style whereas hedonic attribute informations elicit experiential thinking style. Finally, if people engage in rational thinking elicited in processing utilitarian attribute informations, the evaluation of utilitarian product is enhanced. But even though people engage in experiential thinking in processing hedonic attribute informations, the evaluation of hedonic product is not improved.

• The Journal of the Korea Contents Association
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• 제13권2호
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• pp.475-487
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• 2013

The aim of this study is to examine an existence of mutual interdependency in terms of military expenditure and arms imports between Northeast Asian countries such as South Korea, North Korea, China, Japan, and U.S. Recently, the mood of post cold war and intensified globalization lead to be disarmament in pursuing a policy on national defence in many countries. Since potential menace to national security has been receiving more concern rather than a direct armed clash, mutual interdependency on military spending should be fully understood. For a methodological tools, ${\beta}$ and ${\sigma}$-convergences, convergence with rational expectation, and Granger causality test are employed. Empirical evidence shows that the convergences which are evaluated by ${\beta}$, ${\sigma}$, and by a model based on rational expectation are in general revealed, and differences are more sensitive to a military decision making procedures. Granger causality, however, is not being existed. To this end, it would be concluded that the Northeast Asian countries are going with a trend in the world than forming their own tendency in this region.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• 제9권1호
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• pp.15-23
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• 2014

A Case Study on Venture and Small-Business Executives' Use of Strategic Intuition in the Decision Making Process This paper is a case study on how Venture and Small-Business Executives managers can take advantage of their intuitions in situations where the business environment is increasingly uncertain, a novel situation occurs without any data to reflect on, when rational decision-making is not possible, and when the business environment changes. The case study is based on a literature review, in-depth interviews with 16 business managers, and an analysis of Klein, G's (1998) "Generic Mental Simulation Model." The "intuition" discussed in this analysis is classified into two types of intuition: the Expert Intuition which is based on one's own experiences, and Strategic Intuition which is based on the experience of others. Case study strategic management intuition and intuition, the experts were utilized differently. Features of professional intuition to work quickly without any effort by, while the strategic intuition, is time-consuming. Another feature that has already occurred, one expert intuition in decision-making about the widely used strategic intuition was used a lot in future decision-making. The case study results revealed that managers were using expert intuition and strategic intuition differentially. More specifically, Expert Intuition was activated effortlessly, while strategic intuition required more time. Also, expert intuition was used mainly for making judgments about events that have already happened, while strategic intuition was used more often for judgments regarding events in the future. The process of strategic intuition involved (1) Strategic concerns, (2) the discovery of medium, (3) Primary mental simulation, (4) The offsetting of key parameters, (5) secondary mental simulation, and (6) the decision making process. These steps were used to develop the "Strategic Intuition Decision-making Model" for Venture and Small-Business Executives. The case study results further showed that firstly, the success of decision-making was determined in the "secondary mental simulation' stage, and secondly, that more difficulty in management was encountered when expert intuition was used more than strategic intuition and lastly strategic intuition is possible to be educated.