• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.129-138
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• 2014

After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

• Journal of the Korea Society of Computer and Information
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• v.16 no.7
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• pp.183-190
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• 2011

Loan amount of housing mortgage is composed of various factors. This study paper studies focuses on estimating the determinants of a loan amount of housing mortgage. The region for analysis consist of seven groups, that is, metropolitan city (such as Busan, Daegu, Incheon, Gwangiu, Daejeon, Ulsan.) and Seoul. Analyzing period be formed over a 45 time points(2007. 01.~ 2010. 09). In this paper the dependent variable setting up loan amount of housing mortgage, explanatory(independent) variables are composed of the consumer price index, unemployment rate, average monthly household income per household, expenditure rate of health care, composite stock price index and overdue rate of household loans for commercial bank. In looking at the factors which determine loan amount of housing mortgage, evidence was produced supporting the hypothesis that there is a significant positive relationship between the consumer price index and unemployment rate. The study also produced evidence supporting the view that there is a significant negative relationship between expenditure rate of health care. The study found that average monthly household income per household, expenditure, composite stock price index and overdue rate of household loans for commercial bank were not significant variables. The implications of these findings are discussed for further research.

• Korean Journal of Agricultural Science
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• v.37 no.2
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• pp.199-207
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• 2010

This research was conducted to determine the influence of physiological and chemical properties of root substrates on the growth of the daughter plants of 'Maehyang' strawberry produced by bag culture. The daughter plants produced by stock plants during bag culture were individually separated and grown in 10-cm diameter plastic pots containing six different formulations of root substrates: a) 50% peatmoss plus 50% vermiculite (5:5 by volume, A), b) 70% peatmoss plus 30% perlite (7:3, B), c) 70% coir dust plus 30% perlite (7:3, C), d) mixture of 35% coir dust, 35% peatmoss, and 30% perlite (3.5:3.5:3.0, D), e) mixture of 20% rice hull, 70% coir dust, and 10% perlite (2:7:1, E), and f) 30% rice hull plus 70% coir dust (30:70, F). The container capacity and air filled porosity of the growing medium varied greatly among the six substrate formulations evaluated. The substrates E and F had less container capacity and higher air-holding spaces than the rest of the formulations. Therefore, these two formulations (E and F) may cause a problem in water management during the production of healthy daughter plants. The substrate formulations A, B, and D retained higher nitrogen (N) concentrations than other formulations containing coir dust or rice hull. The substrate formulations E and F which contained rice hull had lower N, phosphorus (P), and potassium(K) concentrations than other substrate formulations containing coir. The quality of the daughter plants grown in all six different substrate formulations was good with the crown diameters at around 10 mm. Fresh weights of the daughter plants grown in substrate formulations A, C, and D were higher than those obtained from B, E, and F. Dry weights of the daughter plants showed a similar trend. The daughter plants having high fresh and dry weights and increased crown diameter are in demand by the industry. For this reason, the substrate formulations A, C and D can readily be used as potting mixes during the production of 'Maehyang' strawberry transplants utilizing the bag culture system.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.175-182
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• 2021

Focusing on the recently announced "KOSPI 200 ESG Index," this study intends to examine whether the "KOSPI 200 ESG Index" has any relevance to stock prices. Specifically, it was empirically analyzed whether companies included in the KOSPI 200 ESG index showed average abnormal return and cumulative average abnormal return of stock prices due to incorporation into the index. As for the research method, the case study was conducted using the return by the market model using the coefficient estimated by the OLS for the normal expected return. The study results are summarized as follows. First, the initial incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Second, the incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Through this study, it was confirmed that investors in the market are aware of ESG indicators as non-financial information, not just financial information. In addition, it can be said that the contribution of this study to the fact that investors perceive ESG index as information for investment. This study differs in that it uses the latest ESG index, but at the same time, it has limitations in that the study period is short and the study sample is limited.

• Korean Journal of Remote Sensing
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• v.34 no.6_3
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• pp.1399-1414
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• 2018

Natural forests are un-manned forests where the artificial forces of people are not applied to the formation of forests. On the other hand, artificial forests are managed by people for their own purposes such as producing wood, preventing natural disasters, and protecting wind. The artificial forests enable us to enhance economical benefits of producing more wood per unit area because it is well-maintained with the purpose of the production of wood. The distinction surveys have been performed due to different management methods according to forests. The distinction survey between natural forests and artificial forests is traditionally performed via airborne remote sensing or in-situ surveys. In this study, we suggest a classification method of forest types using satellite imagery to reduce the time and cost of in-situ surveying. A classification map of natural forest and artificial forest were generated using KOMPSAT-3, 3A, 5 data by employing artificial neural network (ANN). And in order to validate the accuracy of classification, we utilized reference data from 1/5,000 stock map. As a result of the study on the classification of natural forest and plantation forest using artificial neural network, the overall accuracy of classification of learning result is 77.03% when compared with 1/5,000 stock map. It was confirmed that the acquisition time of the image and other factors such as needleleaf trees and broadleaf trees affect the distinction between artificial and natural forests using artificial neural networks.

• The Journal of Society for e-Business Studies
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• v.24 no.3
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• pp.35-51
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• 2019

The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effects on the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfunding for invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfunding projects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived from the influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.151-160
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• 2021

The purpose of this study is to analyze the impact of CSR on the managers' compensation-performance sensitivity, and to determine whether there are differences in this relationship as the governance structure is more efficient. The sample for analysis was from KOSPI-listed companies in 2011-2017, and regression analysis was performed to confirm the relevance. The results are as follows: First, in CSR company, there was a negative relationship for managers' compensation-accounting performance sensitivity and a positive relationship for managers' compensation-stock performance sensitivity. Second, CSR and the managers' compensation-performance sensitivity vary depending on the type of corporate governance. In CSR companies, when the corporate governance is effective, the managerial compensation system generally complements each other. These results suggest that there is a need to design an effective manager's compensation system within the company in order to induce managers' decision-making in the direction of increasing shareholder profits in a long-term perspective in CSR companies. In addition, if we identify the relationship with the governance structure and reduce or improve the devices that overlap each other, it is believed that it will contribute to enhancing corporate value.

• Information Systems Review
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• v.25 no.4
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• pp.183-204
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• 2023

Due to the COVID-19 pandemic, lots of occasions need to be held in online environment. This is the reason why "Metaverse" gets lots of attention in 2021. A number of companies made announcements on Metaverse, and this situation also boomed stock market. This paper investigates the relationship between Metaverse initiatives and business value of the firm (i.e., stock prices). We examine this relationship by using event study method with Lexis-Nexis News data from 2019 to 2021. The results indicate that Metaverse initiatives significantly impact positive influence on firm's value. In the technological perspective, technical factors affect more positive market returns, including Metaverse enablers (e.g., NFT, VR devices, digital twin) and common infrastructure (e.g., semiconductor, AI, cloud), and especially virtual environment was emphasized. Additionally, in the strategical perspective, radical innovation (e.g., pivoting, acquisition) impact more positive market return rather than incremental innovation (e.g., partnership, investment). Also, firms from non-service industries can achieve benefits from Metaverse initiatives rather than service industry in some degree.

• Journal of Agricultural Extension & Community Development
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• v.20 no.3
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• pp.777-822
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• 2013

This study attempts to elicit the organizational strategy and operational elements of community-based agricultural management bodies as new main farm management. We analyzed the newest discussion trend, cooperated community management, between Republic of Korea and Japan based on theory of organizing regional agriculture, and also researched on the organization management and business management about cooperated management of community. In this study, the main conclusion of the organizational strategy and operational elements of community-based agricultural management bodies are as following. i) The community-based agricultural management bodies is the cooperation managed individual agriculture resources as joint stock for purposing compound goal, an expansion agricultural income, maintenance farm productivity and rural societies. ii) The domain of cooperative management focus on secondary and tertiary industry like food process, farm produce distribution, rural experience more than farm produce production. The study suggest business promotion system of village unit farmers groups, element of organization management as executive decision organization, business management, operating factor for each steps and management element of cooperation farm working. iii) The policy direction for invigoration community-based agricultural management bodies is to make facilitation for each steps instead of standardized support.

• Journal of Environmental Policy
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• v.13 no.4
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• pp.3-49
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• 2014

Growing interest of stakeholders on corporate responsibilities for environment and tightening environmental regulations are highlighting the importance of environmental management more than ever. However, companies' awareness of the importance of environment is still falling behind, and related academic works have not shown consistent conclusions on the relationship between environmental performance and economic performance. One of the reasons is different ways of measuring these two performances. The evaluation scope of economic performance is relatively narrow and the performance can be measured by a unified unit such as price, while the scope of environmental performance is diverse and a wide range of units are used for measuring environmental performances instead of using a single unified unit. Therefore, the results of works can be different depending on the performance indicators selected. In order to resolve this problem, generalized and standardized performance indicators should be developed. In particular, the performance indicators should be able to cover the concepts of both environmental and economic performances because the recent idea of environmental management has expanded to encompass the concept of sustainability. Another reason is that most of the current researches tend to focus on the motive of environmental investments and environmental performance, and do not offer a guideline for an effective implementation strategy for environmental management. For example, a process improvement strategy or a market discrimination strategy can be deployed through comparing the environment competitiveness among the companies in the same or similar industries, so that a virtuous cyclical relationship between environmental and economic performances can be secured. A novel method for measuring eco-efficiency by utilizing Data Envelopment Analysis (DEA), which is able to combine multiple environmental and economic performances, is proposed in this report. Based on the eco-efficiencies, the environmental competitiveness is analyzed and the optimal combination of inputs and outputs are recommended for improving the eco-efficiencies of inefficient firms. Furthermore, the panel analysis is applied to the causal relationship between eco-efficiency and economic performance, and the pooled regression model is used to investigate the relationship between eco-efficiency and economic performance. The four-year eco-efficiencies between 2010 and 2013 of 23 companies are obtained from the DEA analysis; a comparison of efficiencies among 23 companies is carried out in terms of technical efficiency(TE), pure technical efficiency(PTE) and scale efficiency(SE), and then a set of recommendations for optimal combination of inputs and outputs are suggested for the inefficient companies. Furthermore, the experimental results with the panel analysis have demonstrated the causality from eco-efficiency to economic performance. The results of the pooled regression have shown that eco-efficiency positively affect financial perform ances(ROA and ROS) of the companies, as well as firm values(Tobin Q, stock price, and stock returns). This report proposes a novel approach for generating standardized performance indicators obtained from multiple environmental and economic performances, so that it is able to enhance the generality of relevant researches and provide a deep insight into the sustainability of environmental management. Furthermore, using efficiency indicators obtained from the DEA model, the cause of change in eco-efficiency can be investigated and an effective strategy for environmental management can be suggested. Finally, this report can be a motive for environmental management by providing empirical evidence that environmental investments can improve economic performance.