• 유통과학연구
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• 제21권12호
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• pp.83-89
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• 2023

Purpose: Research on spin-off and treasury stock is necessary because the market has realized that this can be utilized for major shareholder private interest. Considering the unique characteristic of a spin-off and treasury stock in the Korean stock market, this study contributes to the literature by examining the effects on shareholder value in the Korean distribution industry. Research design, data, and methodology: The present study investigates literature, analyst reports, and news articles to examine the spin-off process and analyze how treasury stock magic happens. Results: Setting the exchange ratio favoring Spin-Co in the spin-off is the leading cause for reducing the minor shareholders' value. Moreover, treating treasury stock as an asset is also problematic, allowing the allocation of Spin-Co shares. This leads to an increase in the major shareholder controls of Spin-Co without any contribution from the major shareholders. Therefore, the exchange ratio should be calculated reasonably, and treasury stock from the stock repurchase should be treated as stock retirement. Conclusion: By analyzing the spin-off and how treasury stock magic occurs, this study provides recommendations to improve shareholder value. Moreover, it contributes to the maturation of the Korean capital market by promoting a discussion on the revision of spin-off and treasury stock.

• 디지털산업정보학회논문지
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• 제4권4호
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• pp.113-125
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• 2008

This paper investigates the spillover effects(co-movements) between korean and U.S stock market by KOSPI and DJIA Index. Especially it compare to the pre- and post period of U.S. financial crisis resulted from sub-prime mortgage loan. The main results are as follows. First, the spillover effects of DJIA(U.S. market) to KOSPI(Korean market) are strong. This result accord with the former researches on this subject. Second, spillover effects are more strong after U.S. financial crisis. A possible reason for this phenomenon is a trend which the major investors such as foreign and institutional investors in domestic stock market have more attention to U.S. stock market. Third, the spillover effects appear in the opposite direction, that is KOSPI(Korean Stock Market) to DJIA(U.S. Stock Market). It seems to be the results of asian stock market's growing infIuences to European and U.S Markets.

• 한국조리학회지
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• 제14권2호
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• pp.115-127
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• 2008

The purpose of this study is to validate the evaluation of stock, which has relation with self-esteem and career for the development of commercial stock. This study conducted a survey of purchasing attitudes & receptiveness in order to hold an accurate course for developing stock. According to the analysis, the results are as follows. It examined the cuisiniers of deluxe hotels who mainly use stock of Seoul and the capital region. A total of 350 samples were distributed and 289 samples were selected for the research. Statistical analysis of collected data executed frequency, percentage, average, reliability analysis, factor analysis using SPSSWIN 12.0 PC package programs. Making stock, cooking skills, cooking methods, quality of food ingredients and cooking recipes are important. Also, sensory characteristics such as color, odor, and taste should be considered. Career and self-esteem act on the purchase accommodation attitude of commercial stock. Commercial stock products more than 1,000 mL or 2,000 mL of liquid styles need packing of vacuum pack(vinyl). Based on the result of this study, we will make efficient use of research data for the development of commercial stock products and we will be able to improve conservation of taste with good quality by making by hand through standardization and mass production of traditional culinary skills.

• 한국정보시스템학회지:정보시스템연구
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• 제30권3호
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• pp.21-45
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• 2021

Purpose This paper analyzed the impacts of domestic stock market by a global pandemic such as COVID-19. We investigated how the overall pattern of the stock market changed due to the impact of the COVID-19 pandemic. In particular, we analyzed in depth the pattern of stock price, as well, tried to find what factors affect on stock market index(KOSPI) in the healthcare industry due to the COVID-19 pandemic. Design/methodology/approach We built a data warehouse from the databases in various industrial and economic fields to analyze the changes in the KOSPI due to COVID-19, particularly, the changes in the healthcare industry centered on bio-medicine. We collected daily stock price data of the KOSPI centered on the KOSPI-200 about two years before and one year after the outbreak of COVID-19. In addition, we also collected various news related to COVID-19 from the stock market by applying text mining techniques. We designed four experimental data sets to develop decision tree-based prediction models. Findings All prediction models from the four data sets showed the significant predictive power with explainable decision tree models. In addition, we derived significant 10 to 14 decision rules for each prediction model. The experimental results showed that the decision rules were enough to explain the domestic healthcare stock market patterns for before and after COVID-19.

• 유통과학연구
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• 제15권8호
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• pp.47-54
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• 2017

Purpose - According to agency theory, managers have incentives to adjust firm revenues to meet earnings expectations or delay bad news disclosure because of performance-based compensation and their reputation in the market. When the bad news accumulates, stock prices fail to reflect all available information. Thus, market prices of stocks are higher than their intrinsic value. After all, bad news crosses the tipping point, it comes out all at once. That results in stock crashes. Auditors can decrease stock crash risk by reducing agency costs through their informational role. Especially, stock price crash risk is expected to be lower for firms adopting high-quality audits. We focus on distribution and service industry to examine the relation between audit quality and stock price crash risk. Industry specialization and auditor size are used as proxies for auditor quality. Research design, data and methodology - Our sample contains distribution and service industry firms listed in KOSPI and KOSDAQ during a period of 2004-2011. We use a logistic regression to test whether auditor quality influences crash risk. Auditor quality was measured by industry specialist auditor and Big4 / non-Big4 dichotomy. Following the approach in prior researches, we use firm-specific weekly returns to measure crash risk. Firms experiencing at least one stock price crash in a specific week during year are classified as the high risk group. Results - The result of analyzing 429 companies in distribution and service industry is summarized as follows: Above all, it is shown that higher audit quality has a significant negative(-) effect on the crash risk. Crash risk is alleviated for firms audited by industry specialist auditors and Big 4 audit firms. Therefore, our results show that hypotheses are supported. Conclusions - This study is very meaningful as the first study which investigated the effects of high audit quality on stock price crash risk. We provide evidence that high-quality auditors reduce stock price crash risk. Our finding implies that the risk of extreme losses can be reduced through screening of high-quality auditors. Therefore investors and regulators may utilize our findings in their investment and rule making decisions.

• 펄프종이기술
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• 제37권5호통권113호
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• pp.63-69
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• 2005

This study was performed to introduce recently developed polyvinylamine as a wet-end process and paper strength improving aids. As a retention and drainage aids, high cationic charged polyvinylamine was more effective at the BCTMP and ONP stock condition than LBKP stock condition. As a dry tensile strength aid, dual system of polyvinylamine with anionic polyacrylamide was the best at the LBKP or ONP stock conditions. On the other hand, polyvinyl amine alone was better than dual system of polyvinylamine with anionic polyacrylamide at the BCTMP condition. As a wet tensile strength aid, polyvinylamine single system and dual system of polyvinylamine with anionic polyacrylamide were good at LBKP, BCTMP and ONP stock conditions. However, poly(aminoamide)-epichlorohydrin resin was good at LBKP and ONP stock conditions but efficiency of poly(aminoamide)-epichlorohydrin resin was remarkably decreased at BCTMP stock condition.

• 서비스연구
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• 제1권1호
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• pp.71-79
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• 2011

현재 국내에선 많은 수의 사람들이 주식관련업계에 종사하고 있으며 주식관련 정보와 관련 산업은 점점 발전해 가고 있다. 따라서, 주식을 예측하는 프로그램이 많이 나왔으며, 또한 정확한 수치화를 통해 주식을 예측하고자 하는 노력들이 더해지고 있다. 그러나 주식예측 결과는 아직 불안정하고, 근거가 없는 것이 현실이다. 본 논문에서는 방대한 량의 주식 데이터를 가지고, 주식의 변동 폭에 많은 영향을 끼치는 항목들을 조사하고, 가중치를 구하고자 한다. 이는 기존에 주식에 관련된 수치와 종목별의 분류와 다른 방법이다. 실험결과에 따른 체계적인 주식 데이터의 객관성 있는 분류를 제시하고자 한다.

• 한국기후변화학회지
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• 제8권4호
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• pp.385-391
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• 2017

This study was conducted to estimate litter carbon stock change from the National Forest Inventory (NFI) data for national greenhouse gas inventory report. Litter carbon stocks were calculated from the NFI dataset in NFI5 (2008) and NFI6 (2013) in Gangwon province. Total carbon stock change of litter was $0.68{\pm}0.71\;t\;C/ha$ from NFI5 (2008) to NFI6 (2013), however, there was no significant difference between the both dataset at 2008 and 2013 year. Litter carbon stock of coniferous stands was higher than deciduous stands in NFI5 (2008) and NFI6 (2013) (P<0.05). This study was limited to pilot study, so we will assess litter carbon stock using more complete data from NFI systems. It can be used as data sources for national greenhouse gas inventory report on forest sector.

• 한국컴퓨터정보학회논문지
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• 제16권2호
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• pp.279-288
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• 2011

본 연구는 자동차부품제조업의 전사적 자원관리(ERP : Enterprise Resource Planning)시스템 전체 모듈중 가용재고관리 프로세스에 대한 표준화 모델을 개발한다. 표준화 모델은 중소기업청 및 중소기업기술정보진흥원에서 제시한 정보화구축 개발 방법론에 준하여 단계별 방법론에 따라 시스템이 구축되게 된다. 표준화 모델은 가용 재고관리 프로세스를 위한 발주관리, 입고관리, 출고관리, 재고관리의 프로세스를 표준화 시키고 표준모듈을 개발한다. 본 연구로 ERP시스템 하에서 가용재고관리 프로세스를 구축하고자 하는 제조기업 및 관련 전문 IT업체 들이 표준화된 모듈을 적용하여 시스템을 보다 효과적으로 구축 할 수 있으며, 시스템에 대한 구축 용이성과 신뢰성을 제공한다. 본 연구 결과를 적용함으로써 기업의 원자재 및 제품의 과다보유를 방지하고 적정, 안전재고를 항시 보유할 수 있으며 실시간 재고파악, 고객납기 준수, 과다제품 생산 방지 및 재고비용 절감 등이 가능하다.

• 펄프종이기술
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• 제44권4호
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• pp.62-68
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• 2012

This study was carried out to evaluate the effect of PCC loading at thick stock on the physical properties of paper. The effect of starch addition(2, 4 and 6%) and mixing time(5, 10 and 20 min.) on the filler retention and paper properties were investigated. Optimum dosage of cationic starch as a fixing agent was 4%, and mixing time did not showed any significant effect on the filler retention. PCC loading at thick stock was more effective to improve bulk and opacity than PCC loading at thin stock, although their improvement was not so significant. It was also found that the strength properties could be improved by the loading at thick stock. PCC loading method at thick stock could be considered as one of potential approaches for further improving of paper properties, although further research works are required in order to apply the PCC loading at thick stock in the paper mill.