• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.343-359
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• 2021

Purpose - The purpose of this paper is to investigate the relationship between earnings management and the disclosure effect of share repurchase. In addition, we analyze whether the relationship between earnings management and share repurchase is affected by executive stock options. Design/methodology/approach - We calculate the discretionary accrual amount for the year immediately preceding the share repurchase and the cumulative excess return around the announcement of the share repurchase, and examine the relationship between the two by regression analysis. Findings - We confirmed a negative relationship between discretionary accrual in the year immediately preceding the share repurchase and the market response to the share repurchase disclosure. In particular, it was found that the negative relationship between discretionary accrual and stock price return on share repurchase announcement was found to decrease in companies to which executive stock options were granted. Research implications or Originality - When uncertainties exist in the motives for share repurchase, we find that earnings management and executive stock options can be useful tools for reducing the adverse selection risk inherent in share repurchase announcements.

• Journal of Distribution Science
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• v.16 no.2
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• The Journal of Industrial Distribution & Business
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• v.4 no.1
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• pp.15-21
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• 2013

Purpose - Our goal was to determine whether there is a relationship between actual profits' deviation from the profits expected in earnings per share's adjustment announcements and the degree of apparent earnings management in annual financial statements. Research design, data, and methodology - The samples consisted of 133 companies from ten industries. The companies were selected among those listed in the stock exchange, and their data were examined covering the two-year period from 2008 to 2010. Tests were conducted using a regression model and SPSS statistical software. Results - The findings indicate the following. There is no significantly positive relationship among the last earnings per share's adjustment forecast, the first earnings forecast per share, and earnings management. Moreover, the amount of the latest earnings per share's adjustment forecast relative to its first forecast is not associated with the companies' discretionary accruals items. Finally, the hypothesis that a relationship exists between companies' latest adjustments of their earnings per share and earnings management was tested the results indicate that there is no such relationship. Conclusions - The study's results suggest that the amount of earnings per share's adjustment is not a motivation for earnings management.

• The KIPS Transactions:PartC
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• v.17C no.5
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• pp.399-406
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• 2010

Many problems are arisen due to the weakness in the security and invasion to privacy by malicious attacker or internal users while various data services are available in ubiquitous network environment. The matter of controlling security for various contents and large capacity of data has appeared as an important issue to solve this problem. The allocation methods of Ito, Saito and Nishizeki based on traditional polynomial require all shares to restore the secret information shared. On the contrary, the secret information can be restored if the shares beyond the threshold value is collected. In addition, it has the effect of distributed DBMS operation which distributes and restores the data, especially the flexibility in realization by using parameters t,v,k in combinatorial design which has regularity in DB server and share selection. This paper discuss the construction of new share allocation method and data distribution/storage management with the application of matrix structure of t-(v,k,1) design for allocating share when using secret sharing in management scheme to solve the matter of allocating share.

• Management Science and Financial Engineering
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• v.13 no.1
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• pp.73-91
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• 2007

We investigate factors that influence the choice of high-share brands(HSBs) vs. low-share brands(LSBs) among various product and consumer characteristics related to brand-share perceptions. Specifically, using 8 product categories varying in terms of purchase decision involvement, we show how the influencing factors vary across the categories. At the general level that cover all the 8 categories, our hierarchical Bayesian regressions analysis shows that factors that favor high-share brands are purchase decision involvement, search goods, experience goods, price-quality relationship, positive network externalities, and price-prestige beliefs. Conversely, consumers who value variety seeking and need for uniqueness favor low-share brands. The effects of these factors, however, vary across product categories. The identification of these characteristics can help brand managers establish a more effective brand-share strategy in such areas as setting an optimal market share goal, extending a brand, and developing ad copy. Furthermore, our consumer segmentation analysis demonstrates the general market has two distinct segments - (1) a segment composed of HSB buyers(86%) and (2) a segment composed of LSB buyers(14%). The two segments are also shown to have different significant factors that explain their brand choice. Our segmentation analysis can help marketers establish a marketing strategy that targets a specific segment of interest.

• Journal of the Korean Home Economics Association
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• v.40 no.8
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• pp.153-166
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• 2002

This study aims to reveal the influence of price increase in gasoline on household expenditure trade-off. The subjects were 651 households, acquired the first quarter of 1996 and 1997. This study shows the change of the auto fuel budget share in the same household and they were analyzed with the paired t-test, independent t-test. The results are as follows; 1) the price increase of auto gasoline resulted in the increase of its budget share, regardless of a household's true increase or decrease of income. 2) according to price increase in gasoline, the auto fuel budget share has been changed, therefore I divided these changes into three group on the base of it's degree of change. 3) In the group that had a decrease in auto fuel budget share compared to the degree of change, there was a trade-off between the increase in food and light & light water and the decrease of education and auto fuel budget share. Auto fuel in this group was used as discretionary good. 4) In the group that had a similar change in auto fuel budget share compared to the degree of change, there were no trade-off between expenditure items except auto fuel budget share and miscellaneous decrease. This group is the highest income group among the three groups. 5) In the group that had and increase of change in auto fuel budget share compared to the degree of change, there was a trade-off between the increase of eating-out and auto fuel, and the decrease of education and miscellaneous budget share. Auto fuel in this group was used as a discretionary good. 6) trade-off expenditure budget share showed a mixed effect between the influence of increase in gasoline price and influence of increase in true income.

• International Journal of Railway
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• v.2 no.2
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• pp.80-92
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• 2009

Successful market adoption of rail freight transport innovations that might offer opportunities for market share increase is the focus of this paper. Firstly, seen from a theoretical point of view, it is not incremental innovations but radical organizational and transformation innovations that are likely to increase the market share of rail freight transport. Secondly, the particular inovations that offer some success potential for market adoption are: dedicated infrastructure, the fixed timetable, locomotive upgrades, and INTERFACE. Thirdly, unfortunately, the opportunities to increase the market share of rail freight transport appear to be limited.

• Proceedings of the KSR Conference
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• 2000.11a
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• pp.68-76
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• 2000

Reliable external cost must be estimated to achieve the optimal market share between transportation modes. In this paper, we determined the market share between railroad and road on the cost minimization base. The results show that optimal market share is achieved by increasing investment on railroad.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.2
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• pp.14-24
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• 2020

Google Trends is a useful tool not only for setting search periods, but also for providing search volume to specific countries, regions, and cities. Extant research showed that the big data from Google Trends could be used for an on-line market analysis of opinion sensitive products instead of an on-site survey. This study investigated the market share of tumor necrosis factor-alpha (TNF-α) inhibitor, which is in a great demand pharmaceutical product, based on big data analysis provided by Google Trends. In this case study, the consumer interest data from Google Trends were compared to the actual product sales of Top 3 TNF-α inhibitors (Enbrel, Remicade, and Humira). A correlation analysis and relative gap were analyzed by statistical analysis between sales-based market share and interest-based market share. Besides, in the country-specific analysis, three major countries (USA, Germany, and France) were selected for market share analysis for Top 3 TNF-α inhibitors. As a result, significant correlation and similarity were identified by data analysis. In the case of Remicade's biosimilars, the consumer interest in two biosimilar products (Inflectra and Renflexis) increased after the FDA approval. The analytical data showed that Google Trends is a powerful tool for market share estimation for biosimilars. This study is the first investigation in market share analysis for pharmaceutical products using Google Trends big data, and it shows that global and regional market share analysis and estimation are applicable for the interest-sensitive products.

• The Journal of the Korea Contents Association
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• v.22 no.6
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• pp.329-341
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• 2022

The purpose of this study is to examine the influence of Share house quality, trust and commitment to reuse intention of share houses, which are used residences of the college students of South Korea, with a view to confirming whether such share houses can function as an alternative form of residence for college students and young generation. With this, it is intended to enhance the understanding of the current share house market and find implications in the reasonable supply of share houses in the near future and the improvement of the living environment. Literature reviews and empirical studies were conducted in this paper. The findings of this study can be summarized as follows; Regression analysis was conducted to see how tangibility, safety, empathy, reliability, and responsiveness of Share house quality affect trust, commitment, and reuse intension.