• Management & Information Systems Review
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• v.30 no.4
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• pp.175-193
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• 2011

This paper tests a correlation between degrees of operating leverage(DOL) and financial leverage(DFL). For an empirical analysis, this paper extracted information from financial statements of manufacturing companies listed in the Korea Stock Exchange. Data extend from 1990 to 2009. The DOL continued to increase until 1997, but decreased dramatically after the IMF financial crisis. However, the DOL has been at a higher level than companies of other countries such as USA and Japan. The DFL has been maintained at a much higher level, as expected. The empirical results indicate a positive correlation between the DOL and the DFL. To further investigate, we divide the whole sample into subgroups according to such management elements as asset size, IMF crisis. The results for sub-samples are different from those of whole sample. This indicates we need to incorporate specific managerial factors in order to correctly explain financial decision processes.

• Management & Information Systems Review
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• v.31 no.4
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• pp.539-557
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• 2012

This study purposes to analyze how the level of diversification affects cost stickiness behavior. Specifically, we document that cost stickiness behavior is bigger in case of firm with a high level of related diversification. The purpose mentioned above are empirically tested using 1,508 firm-year data listed on Korea Stock Exchange from 2000 to 2009 and regression analysis methods were used for the analysis of the research hypotheses. The following are the results of this study : First, the increase in SG&A(selling, general and administrative costs) as sales increases is greater than the decrease in SG&A in respect to the equivalent decrease in sales. Second, cost stickiness behavior is bigger in case of firm with a high level of diversification. Also, cost stickiness behavior is bigger as the level of related diversification increase. These results imply that the level of diversification effects on the cost stickiness behavior.

• Journal of Families and Better Life
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• v.22 no.5
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• pp.59-73
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• 2004

Since 1980s' Korea had a great change on the housing culture by the supply of multi-family housing stock both on the macro-social and micro-social aspects. The purpose of this study was to examine the changes and the characteristics of housing environments which were estimated its modernization, and to examine the personal life under the change of housing environments. So I would like to revaluation the characteristics of modernization between the 1980s' and 1990s'. Therefore references were made to various papers, reports, the statistical data, newspaper reports, advertisements and magazines during that period. As a result, this paper came to the remarks as follows: 1. The success of modernization on the housing environments since 1980s' was the Quantitative growth of housing supply by multi-family housing. In spite of this, the Quantitative growth of housing supply and the improvement in Quality like housing space per person had the characters which was 'out of valence on the division'. 2. The Qualitative improvement of modem housing life by the development of housing industries could be said the improvement owing to develop of facilities and equipments. The introduction of up-to-date facilities and equipments realized the convenience and the rationality of living in the house. Although the improvement on the physical things deteriorated the modernized spaces to uniform things by commercial strategies. 3. The life in the multi-family housing which gives protection to personal privacy was settle down on the extremely individualized life without common things within the neighbors. Multi-family housing which was a production of process of modernization came true the growth in an appearance and the variety in the inside, but for the aspect of residents' everyday life in the multi-family housing, the Korean traditional relationship was collapsed and a sense of incompatibility within the residents was created.

• Journal of the Korean Institute of Intelligent Systems
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• v.25 no.2
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• pp.191-196
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• 2015

There have been many studies on statistical forecasting on firm's performance and stock price by applying various financial indicators such as debt ratio and sales growth rate. Selecting predictors for constructing a prediction model among the various financial indicators is very important for precise prediction. Most of the previous studies applied variable selection algorithms for selecting predictors. However, the variable selection algorithm is considered to be at risk of eliminating certain amount of information from the indicators that were excluded from model construction. Therefore, we propose a firm's performance prediction model which principal component analysis is applied instead of the variable selection algorithm, in order to reduce dimensionality of input variables of the prediction model. In this study, we constructed the proposed prediction model by using financial data of American IT companies to empirically analyze prediction performance of the model.

• Journal of Construction Engineering and Project Management
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• v.1 no.3
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• pp.18-27
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• 2011

Although information communication technology (ICT) is long regard as very useful tool in today's construction engineering and project management environment, organizations must not only operate based upon its original setting, but also requires on-going observation, additional features and fine-tuning actions before the desirable outcome can be achieved. However, it is a very common phenomenon that organizations purchase the licensed "off-the-shelf-software" package and customize it to suit their own business need. Due to the incapability of such software and inefficient customization, the possible result is making that ICT tool not user-friendly and sometimes the whole system becomes obsolete. The purpose of this paper is to review and report those actions taken (between February 2006 and December 2010) by a construction organization to enhance the performance of its Enterprise Resource Planning (ERP) system launched in December 2002. Such actions include: improving data inputting method; removing the transition bottleneck; introducing crystallization function; revising the organization's "Delegation and Limits of Authority"; publishing the "League Table" amongst users; integrating the 3D Mode into the system and upgrading hardware. Whilst the ultimate goals of such system are well beyond the time limit of this research study, an obvious interim result, achieved by this case studied organization, was winning a landmark project worth US$500 million after the ERP system was functioned properly and effectively. Their experience and success becomes an exemplar which can be borrowed by those companies, from managerial perspectives and as a roadmap, planning to adopt information technology (IT) strategy and use ICT tool in the construction engineering and project management framework. Singapore, where public housing provisions have been a major concern of their citizens as the building stock gets older.

• Journal of KIISE:Databases
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• v.29 no.5
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• pp.381-392
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• 2002

This paper deals with the problem of shape-based retrieval in time-series databases. The shape-based retrieval is defined as the operation that searches for the (sub)sequences whose shapes are similar to that of a given query sequence regardless of their actual element values. In this paper, we propose an effective and efficient approach for shape-based retrieval of subsequences. We first introduce a new similarity model for shape-based retrieval that supports various combinations of transformations such as shifting, scaling, moving average, and time warping. For efficient processing of the shape-based retrieval based on the similarity model, we also propose the indexing and query processing methods. To verify the superiority of our approach, we perform extensive experiments with the real-world S&P 500 stock data. The results reveal that our approach successfully finds all the subsequences that have the shapes similar to that of the query sequence, and also achieves significant speedup up to around 66 times compared with the sequential scan method.

• Economic and Environmental Geology
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• v.18 no.2
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• pp.107-124
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• 1985

More than fifty copper veins are emplaced around late Cretaceous granitoid stock in Haman-Gunbuk district, southernmost part of Korea. These veins cut both late Cretaceous granitoids and hornfels of Jindong formation which is intruded by the granitoids. The paragenesis of veins is nearly the same, consisting of (1) an early vein stage in which most iron oxide minerals, tourmaline and other silitcate minerals were deposited, (2) a calcite and quartz with base·metal sulfide stage and (3) late vein lets of barren calcite stage. Fluid inclusion studies reveal highly systematic trends of salinity and temperature during mineralization. Ore fluids of early vein stage were complex NaCl-KCl rich brines. Salinities of polyphase inclusions in quartz and scapolite in thie stage reached up to 72 wt.% and gradually decreased to 10.5wt. % in closing stage. Homogenization temperatures of inclusions in the beginning of this stage were up to $490^{\circ}C$ and then declined steadly to $290^{\circ}C$ in the late stage. Salinities of fluid inclusions in quartz and calcite of base·metal sulfide stage were 37.4~5.7wt. % and homogenization temperatures range from $373^{\circ}C$ to $170^{\circ}C$. Intermittent boiling of early vein fluid is indicated by fluid inclusions in quartz. Potassic alteration of granodiorite adjacent to early vein seems to be related to early saline vein fluid. Fluid inclusion data of base-metal sulfide stage of this area reveal nearly the same range as those of Koseong copper mining district about 30km apart from this area.

• Economic and Environmental Geology
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• v.31 no.2
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• pp.149-158
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• 1998

Volcanic rocks including rhyolitic tuff, rhyolite and welded tuff in the Bupyeong silver mine area form a topographic circular structure known as a resurgent caldera. Granitic rocks are emplaced inside and outside area of the circular structure. K-Ar dating and Nd-Sr isotope studies were carried out to invesitigate the origin and petrogenetic evolution of the rhyolitic and granitic magma in the Bupeong silver mine area. Whole rock K-Ar age ranges from 208 to 131 Ma for rhyolitic rocks. Radiometric ages for the granitic rocks are 167.6 Ma for pink feldspar biotite granite from inside granitic pluton of the circular volcanic body, 178.8 Ma for the Kimpo hornblende biotite granite and 111.8 Ma for the Songdo foliated granite from outside granitic plutons of the volcanic body. The radiometric age data indicates that the volcanic activities which are partly overlapped by granite plutonic activities in the Bupyeong mine area had recorded early Jurassic and early Cretaceous in age. Initial Sr and Nd isotopic ratios of the rhyolitic rocks ($^{87}Sr/^{86}Sr$=0.710~0.719 and $^{143}Nd/^{144}Nd$=0.5115~0.5118) are similar to those of granitic rocks ($^{87}Sr/^{86}Sr$=0.709~0.716 and $^{143}Nd/^{144}Nd$=0.5115~0.5116) from inside granite stock. This means that similar source materials of felsic magma responsibles for the Bupyeong volcanic rocks and inside plutonic rocks. Based on the Nd and Sr isotopic compositions, rhyolitic and granitic magmas in the Bupyeong area originated from the partial melting of the old continental crust which has Nd model age ranging from 1500 to 2900 Ma. This is analogous to those of the other Jurassic granitoids in South Korea.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.9
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• pp.3827-3833
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• 2011

This paper performed empirical tests of the validity of the pecking order theory which explains financing behavior of firms under information asymmetry. The results of regression analyses using the data of listed manufacturing companies in the Korean Stock Market from 1981 to 2010 have shown strong evidences supporting the pecking order theory. Especially regression coefficients of change of debt on funds deficit and control variables were found to be almost (+1) with statistically significance, which is interpreted as being consistent with the pecking order theory. Same results were found when I performed regression analyses by dividing the sample period into pre-currency crisis period, currency crisis period and post-currency crisis period and using 2 regression models. Change of tangible asset were found to function as collateral rather than reducing information asymmetry and as the firm size decreased, use of debt increased and as profitability increased use of debt decreased, which are consistent with the pecking order theory.

• Journal of Distribution Science
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• v.17 no.1
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• pp.89-94
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• 2019

Purpose - In recent digital information society, the most important factor of to increase the firm value of the distribution company is not the activity to increase the sales through the general advertisement of the unspecified majority by purchasing the finished product, but to grasp the needs of the consumers and to develop a new distribution platform that connects producers and consumers directly through consumer-tailored advertisements centering on e-commerce. Therefore each company in the distribution industry is spending a lot on research and development investment to innovate the distribution technology and distribution system, and the research and development investment expenditures can affect firm value. The purpose of this study is to analyze the impact of research and development investment expenditures in the distribution industry on market value of the firm. Research design, data, and methodology - As a research method, the sample firms are those which are listed on korea stock exchange market from 2011 to 2017 and the research model is Ohlson(1995) model, which is a representative valuation model using accounting information. This study analyzes the effect of distribution company's research and development investment expenditures and advertising expenditures on market value of the firm Results - The results of empirical analysis show that research and development investment expenditures for developing new distribution technology and advertising expenditures for promoting sales in the distribution company are all positively related to the market value of firm. Therefore, in describing market value of the distribution company, it is shown that the research and development investment expenditures and advertising expenditures together with the net asset and net profit are the important accounting information that explains the market value of firm. This result show that investment expenditures on research and development for the innovation of distribution technology of distribution company creates intangible intellectual assets and increases market value of the firm. Conclusions - The result of this study shows that research and development investment expenditures for the new distribution technology as well as the spending for the advertisement in the future is a very important investment expenditures that can increase the market value of the distribution company.