• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.107-115
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• 2020

This study is concerned with the relationship between firm's ownership structure and the co-movement of the stock return with the market return. Four different types of firm ownership, including managerial ownership, state ownership, foreign ownership, and concentrated ownership, are among the main features of the company's governance mechanism and have been separately documemented in the previous research to understand their impact on stock price synchronicity. We constructed the regression model, using stock price synchronicity as the dependent variable and the above four components of ownership structure as explanantory variables. The pooled OLS, the fixed effects model, and the random effects are employed to investigate the outcome of the study. Data used in the reserch are of public firms listed on the Ho Chi Minh City Stock Exchange (HOSE) during the five-year period term from 2015 to 2019. The data sample contains 235 companies from 10 industries with 1135 observations. The results revealed by the fixed effects model, the large ownership and the managerial ownership are found to have adverse effect on the stock price synchronicity, whereas the foreign ownership model is revealed to have positive influence on the stock return co-movement. The effect of the state ownership on the stock price synchronicity is not confirmed.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.833-843
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• 2021

This research examines the impact of audit quality on the extent to which firm-specific information is integrated with a firm's share price - which is determined inversely using stock price synchronicity. The study sample consists of non-financial companies listed on the Amman Stock Exchange i.e., the Jordanian Stock Market, from 2014-2018. After examining 810 firm-year observations from Jordanian industrial companies listed on the ASE, during the study period, we find that the companies using one of the BIG4 audit firms for auditing have less synchronous and more informative stock prices, suggesting high-quality audit improved governance and reduce information asymmetry between firms' insiders and investors which enhances the capitalization of firm's specific information into the stock price, thus less synchronous and more informative stock return. The findings remain consistent over 2 separate measurements of stock price synchronicity (Market and Industry model and Market Model) and show robustness for fixed effect tests. Our multivariate regression results are also robust after controlling for a number of features at the firm level with potential associations with stock price synchronicity. These include the firm size, leverage, return on assets (ROA), and market to book value (MBV).

• 한국정보처리학회:학술대회논문집
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• 한국정보처리학회 2007년도 춘계학술발표대회
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• pp.860-861
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• 2007

The Pulse Coupling Oscillator (PCO) is a synchronicity model inspired by nature. However, the PCO model has some limitations. The Fast PCO model is proposed in this paper. It addresses the problem of the phase swing actions in the original PCO model. Benefits are the fast synchronicity speed and associated energy saving.

• International Journal of Contents
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• 제16권2호
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• pp.65-77
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• 2020

The purpose of this study was to examine the impacts of the audience and vlog creator's self-disclosure, media synchronicity (immediacy of feedback, variety of symbol set), as well as content authenticity on the intimacy between the vlogger and the audience and continuance intention of the audience. The participants of the online survey were young Chinese females, instructed to practice their routine of watching vlog and the fixed vlog channels. By the interpersonal process of intimacy model and media synchronicity theory, the results of the structural equation modeling revealed that self-disclosure (audience's disclosure) and partner responsiveness (vlogger's disclosure) form the experience of intimacy in interactions. Also, the quick immediacy of feedback, rich symbol set, and content authenticity positively impacted intimacy development. Meanwhile, intimacy enables the audience to form a continuous viewing behavior. We expect the results of this study will provide more insight into the relationship between the audience and the producer in online video content. In terms of the personal media influencers and MCN companies, this study is also suggests strategic implications.

• Asia pacific journal of information systems
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• 제20권2호
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• pp.103-124
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• 2010

Social communications using information and communication technologies (ICT) for social interactions have been making a significant impact on task performance in organizations. However, most of the existing studies on ICT (e.g., telephone and email) have only focused on technical improvement of communication efficiencies (e.g., information exchange and storage). In this paper, we claim that ICT may be another alternative source of knowledge creation that enables employees to work, find solutions, and achieve their goals faster and better. We investigate the impact of ICT in terms of both tasks and social aspects with knowledge creation as task performance. Also, we investigate the moderating effect of media synchronicity on these relationships. This study contributes to the understanding of contemporary communications media usage and its performance in organizations. We collected and analyzed survey data of 248 company employees, using PLS. The results indicate that task urgency and social influence directly affect ICT usage, and even knowledge creation. Also the media synchronicity moderates the relationship between the characteristics of a given task and ICT usage and the relationship between ICT usage and knowledge creation. Theoretical and practical implications of these findings are also discussed in the paper.

• The Journal of Asian Finance, Economics and Business
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• 제7권7호
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• pp.139-147
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• 2020

This paper aims to explore the relationship between the quality of the audit and the level of stock return co-movement in the context of the Vietnamese emerging market. The empirical study is designed based on the quatitative method and deductive approach. The panel dataset includes 256 listed firms from different industries,with 1115 firm-year observations on Ho Chi Minh City Stock Exchange for the period from 2014 to 2018. In the research, we built the econometric regression model, using stock return synchronicity and audit quality as the dependent and independent variable, respectively. Some control variables are also added to the econometric regression models as they are well-documented in prior research to have an effect on stock price synchronicity. To improve the accuracy of the regression coefficients, beside the Ordinary Least Squares, we employ the Random Effects Model and the Fixed Effects Model for better statistical analysis of panel data set. The results show that the quality of the audit is positively correlated to stock price synchronicity. This finding suggests that stock returns of companies with higher quality of the audit are more synchronous with the market. Results for other control variables also support our reasoning for the main findings.

• 한국산업정보학회:학술대회논문집
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• 한국산업정보학회 2008년도 추계 공동 국제학술대회
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• pp.479-491
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• 2008

A "task network" is a type of social network that consists of experts who exchange professional help and advice regarding executing tasks. In this study, we investigate the task network used within the IS department of a national bank in Korea. We identify how this network moderates the influence of computer-mediated communication (CMC) technology on an individual s task performance. Size, density, and centrality were measured as the characteristics of a personal task networks. Size equates to the total number of colleagues who work with a specific member for a certain project. Density is the ratio of the number of actual relationships to the total number of available relationships. Centrality defines whether an individual s position is in the exact center of whole network, and is measured by betweenness centrality, meaning the position one member holds between others in a network. Our findings conclude that the conditions - the larger the size of the task network, the smaller its density and the higher its level of centrality - lead to more benefits of using CMC media. Further, this positive effect of CMC is more noticeable when it provides synchronicity.

• Asia pacific journal of information systems
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• 제18권3호
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• pp.21-43
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• 2008

The task network which is formed of different individuals can be recognized as a social network. Therefore, the way to communicate with people inside or outside the network has considerable influence on their outcome. Moreover, the position on which a member stands in a network shows the different effects of the information systems supporting communication with others. In this paper, it is to be studied how personal CMC (computer-mediated communication) tools affect the mission that those who work for a network perform through diverse task networks. Especially, we focused on synchronicity of CMC. On this score, the perspective of Media Synchronicity Theory was taken that had been suggested by criticizing Media Richness Theory. It is the objective, from this perspective, to find which characteristics of networks make the value of IT supporting synchronicity high. In the research trends of social networks, there have been two traditional perspectives to explain the effect of network: embeddedness and diversity ones. These differ from the aspect which type of social network can provide much more economic benefits. As similar studies have been reported by various researchers, these are also divided into the bonding and bridging views which are based on internal and external tie, respectively, Size, density, and centrality were measured as the characteristics of personal task networks. Size means the level of relationship between members. It is the total number of other colleagues who work with a specific member for a certain project. It means, the larger the size of task network, the more the number of coworkers who interact each other through the job. Density is the ratio of the number of relationships arranged actually to the total number of available ones. In an ego-centered network, it is defined as the ratio of the number of relationship made really to the total number of possible ones between members who are actually involved each other. The higher the level of density, the larger the number of projects on which the members collaborate. Centrality means that his/her position is on the exact center of whole network. There are several methods to measure it. In this research, betweenness centrality was adopted among them. It is measured by the position on which one member stands between others in a network. The determinant to raise its level is the shortest geodesic that represents the shortest distance between members. Centrality also indicates the level of role as a broker among others. To verify the hypotheses, we interviewed and surveyed a group of employees of a nationwide financial organization in which a groupware system is used. They were questioned about two CMC applications: MSN with a higher level of synchronicity and email with a lower one. As a result, the larger the size of his/her own task network, the smaller its density and the higher the level of his/her centrality, the higher the level of the effect using the task network with CMC tools. Above all, this positive effect is verified to be much more produced while using CMC applications with higher-level synchronicity. Among the a variety of situations under which the use of CMC gives more benefits, this research is considered as one of rare cases regarding the characteristics of task network as moderators by focusing ITs for the operation of his/her own task network. It is another contribution of this research to prove empirically that the values of information system depend on the social, or comparative, characteristic of time. Though the same amount of time is shared, the social characteristics of users change its value. In addition, it is significant to examine empirically that the ITs with higher-level synchronicity have the positive effect on productivity. Many businesses are worried about the negative effect of synchronous ITs, for their employees are likely to use them for personal social activities. However. this research can help to dismiss the concern against CMC tools.

• 벤처창업연구
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• 제6권2호
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• pp.75-96
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• 2011

벤처기업을 경영함에 있어서 효과적인 커뮤니케이션은 필수적이다. 커뮤니케이션은 구성원들 간의 상호 응집력을 높이고, 근로의욕이나 협동심, 직업만족 등을 향상시키기 때문이다. 최근 정보기술의 발달과 융합으로 인해서 새로운 커뮤니케이션 매체가 등장하고 있고, 이러 한 새로운 커뮤니케이션 매체가 제공하는 기회를 활용하기 위해 새로운 연구들을 시도하고 있다. 본 연구에서는 커뮤니케이션을 통한 과업성과를 향상시키기 위해 다음 세 가지 질문에 대한 답을 찾고자 하였다. 첫째, 커뮤니케이션 매체의 이용수준이 높아지면 과업성과가 향상되는가? 둘째, 커뮤니케이션 매체의 이용수준이 과업성과에 미치는 영향은 과업이 친숙한 상황과 낯선 상황에 따라 어떻게 달라지는가? 셋째, 매체의 동기성 수준에 따라 과업성과가 어떻게 달라지는가? 본 연구에서는 이를 검증하기 위해 커뮤니케이션 매체의 이용수준과 친숙도 그리고 성과로 구성된 연구모형을 작성하였다. 본 연구에서는 연구모형의 답을 대학에서의 팀 과목 수업에서의 학업성과에 대한 연구에서 찾았다. 왜냐하면 기업조직에서의 과업 수행방식은 예비 관리자 또는 미래 경영자를 양성하는 경영대학의 팀 과목 수업방식과 유사하기 때문이다. 본 연구에서는 팀 과목을 수강한 경험이 있는 대학생들을 대상으로 163부의 설문을 회수하여 분석하였다. 분석결과는 다음과 같다. 첫째, 커뮤니케이션 매체 이용수준이 높아질수록 성과가 높아졌다. 즉, 전화통화나 핸드폰 문자, 이메일, 메신저, 블로그, 인터넷 게시판 등의 커뮤니케이션 매체를 더 많이 이용할수록 과목 내용을 보다 빠르게 이해하고, 이해수준을 높였으며, 더 나은 학점을 받았다. 둘째, 과목 친숙도의 조절효과를 분석한 결과, 과목 친숙도가 높을수록 커뮤니케이션 매체 이용수준이 학업성과에 미치는 영향이 크게 나타났다. 셋째, 커뮤니케이션 매체의 동기성 수준이 높을수록 커뮤니케이션 매체의 이용에 따른 학업성과가 크게 나타났다.

• Asian-Australasian Journal of Animal Sciences
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• 제26권3호
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• pp.358-365
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• 2013

A series of in vitro studies were carried out to determine i) the effects of enzyme and formaldehyde treatment on the degradation characteristics of carbohydrate and protein sources and on the synchronicity of these processes, and ii) the effects of synchronizing carbohydrate and protein supply on rumen fermentation and microbial protein synthesis (MPS) in in vitro experiments. Untreated corn (C) and enzyme-treated corn (EC) were combined with soy bean meal with (ES) and without (S) enzyme treatment or formaldehyde treatment (FS). Six experimental feeds (CS, CES, CFS, ECS, ECES and ECFS) with different synchrony indices were prepared. Highly synchronous diets had the greatest dry matter (DM) digestibility when untreated corn was used. However, the degree of synchronicity did not influence DM digestibility when EC was mixed with various soybean meals. At time points of 12 h and 24 h of incubation, EC-containing diets showed lower ammonia-N concentrations than those of C-containing diets, irrespective of the degree of synchronicity, indicating that more efficient utilization of ammonia-N for MPS was achieved by ruminal microorganisms when EC was offered as a carbohydrate source. Within C-containing treatments, the purine base concentration increased as the diets were more synchronized. This effect was not observed when EC was offered. There were significant effects on VFA concentration of both C and S treatments and their interactions. Similar to purine concentrations, total VFA production and individual VFA concentration in the groups containing EC as an energy source was higher than those of other groups (CS, CES and CFS). The results of the present study suggested that the availability of energy or the protein source are the most limiting factors for rumen fermentation and MPS, rather than the degree of synchronicity.