• Proceedings of the KSR Conference
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• 2008.06a
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• pp.1032-1038
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• 2008

KTX train system is composed of TORNAD* network for transmitting information of train's internal equipments and OBCS which proceed information within train. OBCS of one trainset consisted of 28 equipments takes intelligent and dynamic composition according to equipment handling, train command and control flow. Each OBCS which is installed within trainset handle and supervise mutually action information about equipments, transmit it to driver to transmit information about train operation and preventive management. This mutual supervision and information transmission use KTX TORNAD* network system. TORNAD* network system is the one which is uniquely developped by GEC ALSTHOM, the KTX trainset manafacturing provider and this field is excluded from technical know-how transfer item. Through the research on analysis method of KTX TORNAD* system data structure which is operating on Seoul-Pusan Line, I hope that this thesis can contribute to train network system's standardization after applying it to improvement of train network system maintenance, enhancing quality of train service and applying it to future Korean rolling stock network system development.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.25-31
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• 2020

The purpose of this paper is to examine a financial distress premium in the emerging market. A risk-return trade-off of negative book equity (NBE) and distress firms is empirically analyzed using data from the Stock Exchange of Thailand. This research employs Ohlson's (1980) bankruptcy model as a measurement of distress risk. The results indicate that distress firms outperform solvent firms in the Thai market and deny distress anomaly often found in the developed market. Fama-Frech (1993) three-factor model and Carhart (1997) four-factor model verify the existence of a distress premium in the Thai capital market. Risk-seeking investors demand greater compensation for bearing risks of distress firms' going concern. This paper provides fresh evidence that default risk is a significant explanatory factor in pricing stocks in the emerging market. Also, this study sheds light on the role of NBE firms in asset pricing. Most studies eliminate NBE firms from their sample. However, NBE firms yield superior average cross-sectional returns, albeit with higher volatility. Investors are rewarded with distress risks associated with NBE firms. The outperformance of NBE firms is statistically significant when compared to the overall market. The NBE premium disappears when factoring size, value, and momentum in time-series analysis.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.67-73
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• 2020

The paper examines the influence of internal factors and external factors on liquidity of Vietnamese listed enterprises. The study uses robust regression techniques in the fixed effects linear panel data using data collected from companies listing on the stock market in Vietnam during 2008-2019, with a total of 6,700 observations. Liquidity of Vietnamese listed enterprises is measured by current assets to current liabilities, whereas firm size, capital adequacy, profitability, leverage are used as internal determinants. Further, economic activity, inflation rate, exchange rate, and interest rate are the external factors which are considered. The research results indicate that capital adequacy, return on equity, leverage, economic activity have a positive effect on firm's liquidity, whereas return on assets and exchange rate have a negative effect on firm's liquidity and firm size, inflation rate and lending rate have no correlation with firm's liquidity. Based on the research results, the author suggests that the firms should have optimum current ratio by balancing the current assets and current liabilities in order to avoid a situation of high liquidity or low liquidity. This research seeks to bridge a gap which is present in the body of literature on listed enterprise's liquidity in Vietnam. The findings may be useful for financial managers, investors, and financial management consultants.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.33-43
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• 2020

This study aims to investigate the importance of earnings quality as a determinant of companies' performance. It provides some empirical evidences from an emerging market, specifically from the Jordanian market. This study developed an econometric model for the effect of earnings quality on the companies' performance using empirical evidence. The study employs a panel data analysis method by using a sample of all Jordanian industrial public shareholding companies listed on Amman Stock Exchange (ASE) during 2010-2018. The results reveal that Return on Assets (ROA), Return on Equity (ROE), and Earnings Per Share (EPS) as proxies of company's performance are affected by the earnings quality. This provides the importance of positive earnings quality that eventually influences the companies' performance. The results of this study suggest that the higher control level on the managers' behavior and its outcome will have an effect on earnings quality, and thus the company's performance increases. As well as, high relevance of accounting information will improve earnings quality, and thus earnings quality with the interaction factors of the company's environment work on improving performance. As a conclusion, this study can work as a reference to assist standard setters, security analysts, regulators and other accounting-information users in appraising relation between the earnings quality and companies' performance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.827-834
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• 2020

The use of different proxies to measure good corporate governance (GCG) may be a probable cause of the mixed results. Therefore, the application of a new single measure to enhance comparable empirical studies is required. The purpose of this study is to examine the relationship between corporate governance and firm's performance. This study involved all manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2014 to 2016 through purposive sampling with specific criteria. out of 144 qualified companies, 110 companies could be processed because of completed data in the form of financial information from their financial statements during the research period. The data were obtained from the official websites of IDX. This study applies a new measure of the corporate governance: the efficiency of the GCG. The corporate governance is calculated by relating inputs of components of the corporate governance and outputs of sales, assets and firm equity capital. By using financial data from firms listed on the Indonesian Capital Market, this study finds that the corporate governance significantly improved firm's performance. More importantly, the study confirms and supports the new single measure of the GCG. This result is very important to avoid dealing with different indicators of the corporate governance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.697-706
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• 2020

This study investigates the relationship between related loan, ownership concentration and real estate firm performance. The data was collected from 35 real estate firms listed on Indonesia Stock Exchange from 2007 to 2012. Related loans are viewed from the angle of related lending and loan. Related lending and loan is measured by the related lending on total lending ratio and related loan on total loan ratio. Firm performance is measured by the asset turnover ratio and return on assets ratio. Ownership concentration is measured by the right cash flow. The data analysis was done with regression analysis and panel data. The results of the study found that related loans had a positive effect on sales but had no effect on profits. This supports the efficient transaction hypothesis. On the other hand, related lending has a positive effect on profits that supports opportunistic transactions. Ownership concentration moderates the effect of related loan on company's performance. The related lending are beneficial for mutually supporting activities in the real estate sector business group in Indonesia, but related loans have the potential to be used in tunneling activities. The paper contributes to the related party transaction in benefits-risks of related lending and related loan in uncertainty context.

• The Journal of Information Systems
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• v.25 no.1
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• pp.25-47
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• 2016

Purpose In this study, the relationships among environmental information exchange with suppliers(EIES), green collaboration with suppliers, green learning by environmental information, the adoption of green supply-chain management techniques(AGSMT) (i.e., the green purchasing, product design and production, and the recovery of extra facilities and inventories), environmental performance, and the organizational performance of a firm were empirically investigated. Design/methodology/approach Data for this study were drawn from a survey of the current status of EIES levels and AGSMT usage observed in Korean manufacturing firms. In total, 500 organizations were randomly selected from a population of about 1,000 firms that are listed on the Korean stock market. In order to collect empirical data, this research administered questionnaires with the sample firms. Only chief production executives were selected as respondents. A questionnaire with a cover letter was mailed to each respondent. The survey was conducted during a 3-month period between March 2015 and June 2015. Finally, 78 valid data of the sample firms were collected. Findings The results of this study showed that EIES positively affects the green corporation and learning. According to the results, it was observed that both green corporation and green learning have a positive impact on the levels of AGSMT(i.e., the green purchasing, product design and production). It was also demonstrated that AGSMT has a direct positive impact on environmental performance. In examining the effects of environmental performance on the organizational performance of a firm, significant impact was found.

• Proceedings of the KSR Conference
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• 2006.11b
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• pp.791-795
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• 2006

Urban transit is one of the most effective ways for efficient operation and construction of an urban transit by composition system which is liked originally such as rolling-stock, power, signal and infrastructure. Urban rail transit system is running in domestic, imports major equipments from advanced countries and setup for maintenance. But it takes long time because it does each organizations and lines. Also, signal, power and track system apply different standard by each construction organizations it causes an increasing construction of cost accordingly it desperately needs a systematic countermeasure. Therefore standard specification of urban transit have been establishing and operatingfor efficient operation of urban transit and base technology security that is populace ride to become a base of state economy. After track, power and signal system will be announced. Standard specification become more, the importance of administrationof standards is emphasized more. Specification administrator’s the importance which use a computing support tool recently in railroad part in embossed and is predicted to be more such forward. Therefore we propose the effective method of management with track, power signal system by constructed data-base system.

• Proceedings of the Korea Technical Association of the Pulp and Paper Industry Conference
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• 2000.06a
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• pp.34-39
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• 2000

Today's size of production operations in the packaging paper sector I sconstantly increasing , featuring integral processing systems, high-speed paper machines, and the increased marketing of lower basis weight products. The risk factors involved in these large investments lie more than ever in the available furnish potential and ongoing requirements for further closure of water loops and lower operating costs. A comparison is drawn between recovered paper furnish mixtures used in European mills with regard to fibre properties, strength potential and contaminant content, Both the furnish situation and development trends in modern fluting and testliner machines are instigating concept changes in stock preparation, the approach flow as well as in process water and rejects technology. Developments are currently focussed for example on more efficient debris separation using fine slotted screening, optimized refining , more systematic process water management with loop separation and integral water clarification as well as more efficient removal of microstickies, fillers and fines through appropriate combination of rejects handling and water clarification processes. Product quality differentiation depends decisively on strength characteristics as a function of refining , fines removal , paper machine technology, and sizing . Maximum availability of today's high speed paper machines and , as a result, cost effective production can be ensured by optimum balancing of all subsystems with in the overall concept and by reliable control of problems with contaminants and deposits.

• Information Systems Review
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• v.3 no.1
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• pp.19-30
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• 2001

With the e-business paradigm emerging, the website became a critical resource for most corporations. However, the amount of value creation through internet is still in question. This paper shows the result of an exploratory study on website assessment, following the tradition of Technology Acceptance Model (TAM). We viewed the intended usage as the value of the website and added such factors as playfulness, commitment, system quality, and information security as external variables of the model. Website types, visiting purposes, and the user system quality were included as moderators. The website value could differ depending on website types, purposes of the use and system quality. In the case of internet shopping malls, playfulness, compatibility, website quality were identified as key influencers, while for stock trading users, however, commitment and security factors are more important. In terms of user purposes, information search requires both the compatibility and the website quality. Also the website quality was strongly affected by the user system quality. In other words, any investment of upgrading the website system quality can be meaningless unless the user system quality is improved as well. For each variable considered, empirical results are discussed and practical implications are provided.