• Asia-Pacific Journal of Business
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• v.15 no.3
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• pp.325-349
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• 2024

Purpose - This study aims to identify and document earnings management, sources of investment growth, and CEO personality traits as three determinants of difference in the value-earnings convexity. Design/methodology/approach - To test our hypotheses, we run cross-sectional regressions based on the Fama and Macbeth (1973) procedure using US firm-year observations from 1968 to 2017. Findings - First, we show that the value-earnings association decreases with accruals and real earnings management. Second, we demonstrate that the value-earnings convexity is weaker when investment growth is supported by off-balance-sheet intangible assets relative to on-balance-sheet tangible and intangible assets. Finally, we find that extraverted CEOs and CEOs who are more open to experience are better at exploiting the growth opportunities implied by the current accounting profitability. Conscientious and neurotic personality traits of CEOs make no difference in exploiting the growth opportunities that the current accounting profitability suggests. Research implications or Originality - This study complements and extends the literature on real options and behavioral agency by demonstrating that the value-earnings convexity depends not only on accounting profitability and investment growth rate, but also on earnings management, sources of investment growth, and CEO personality traits.

• Journal of Service Research and Studies
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• v.9 no.2
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• pp.77-88
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• 2019

Appropriation means the process of transforming resources to property. John Locke earlier investigated the appropriation process of natural resources into the land property, which grounded the jurisprudential base of the private ownership of the land. In the same way human resources are transformed into the human assets. Appropriation process, very rarely studied so far, in this case of human property is the focus of this paper. The appropriation of intangible property is by far easier than the appropriation of tangible property. Learning is a process of embodiment, which naturally mean the process of appropriation. For the material resources which exist out of human body, appropriation necessary need special philosophical and institutional justification. In the process appropriation for intangibles, investigator found, appropriator and learner either can be same, or can be differentiated. In the former case substantial human assets are created while in the latter relational human assets are built. After the discussion of appropriation process, Investigator proceeds to the problem of visualizing the invisibles. Evaluation and assessment issue were discussed in this perspective. Qualification system is particularly noted as a system to regulate substantial human assets including their issuing and registration. The work done in this paper would contribute in understanding the law of education and the law of qualification.

• Journal of Information Technology Services
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• v.17 no.3
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• pp.101-115
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• 2018

In order to promote the IT business efficiently, the Preliminary Feasibility Study has been conducted since 2004. It is to verify the feasibility of a large-scale IT project in advance and to determine whether to reflect the budget. It is more difficult to analyze the benefits of the IT project than other projects, because the IT project is carried out by combining tangible and intangible assets and human resources. For this reason, the Standard Guideline for Preliminary Feasibility Study in the IT field suggests a framework to support in estimating the benefits of the IT project. However, it includes the following problems : 1) level discrepancy among the benefit categories, 2) lack of types of benefit items, 3) no consideration of benefit inducing factors. So the framework is facing a low utilization. This study develops a new framework through a three-step research process. The new framework can be used not only for preliminary feasibility studies but also for estimating the benefits of general IT projects.

• Proceedings of the Korean Association for Survey Research Conference
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• 2003.06a
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• pp.59-68
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• 2003

Transport survey has been conducted annually by the Korea National Statistical Office (KNSO) in order to acquire information on business activities of the transport industry such as the number of employees, remuneration, revenue, expenses and tangible fixed assets, etc. The results of this survey are widely used for formulating economic policies of government and management plans of business and also for research activities. In this thesis, we provide the sampling design of the transport survey, and describe the management of sample in KNSO.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2001.10a
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• pp.213-217
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• 2001

This paper deals with the estimation of efficiency of Telecommunication Operators(TOs) using DEA (Data Envelopment Analysis). The measure of efficiency using DEA accomplishes next two steps. First, the efficient frontier is derived using the data of input and output. And then the efficiency of the decision making units are measured by the distances from this frontier To measure efficiency, we consider a one-output, three-input production function. We use the tangible assets, investment cost, the number of employees for input data and measure the output by the revenue. After measuring the efficiency, We can compare the domestic TOs with the international TOs and the wire TOs with wireless ones by average efficiency. After accomplishing the analysis of efficiency, the internal/external efficiency is measured simultaneously through correlation between efficiency and profitability, quality level.

• The Journal of Information Systems
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• v.26 no.4
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• pp.401-418
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• 2017

Purpose: Since the cost of feed for Korean pig farmers has been increasing, attracting crowdfunding for the swine industry become important. This paper applies the AHP decision-making method to build a model for the sustainable growth of crowdfunding in the swine industry. Design/methodology/approch: The result from the analysis of data collected from this research shows that both investors and borrows groups consider tangible assets to be most important for crowdfunding in the swine industry. Findings: Thus protection of investors should be resolved first by providing collateral rather than insisting on the conventional crowdfunding method that stresses the credit aspects only. The investors and borrows groups also judged the loan amount very important, suggesting that the smooth and sufficient investment should be secured for borrows group.

• Journal of Korean Society for Quality Management
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• v.19 no.1
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• pp.170-187
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• 1991

Investments in factory automation do not guarantee productivity enhancement. Much unknown losses may exist in all aspects of production resources such as in material, manpower, machine, etc. Total productivity in korean firms has decreased in recent years. Labor and capital productivity index fall to 0.82 point and 0.73 point, respectively. Investment in FA has Increased rapidly. Tangible fixed assets per capita increased 64% during the past Three years. But, this high-technology oriented systems such as NC, robotics, CAD/CAM, FMS, etc. are often out of keeping with the old production process control, and thus do not result in satisfactory performance. This review paper concerned with these problems and suggests some future directions for production control and development strategy of korean firm's.

• KDI Journal of Economic Policy
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• v.40 no.4
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• pp.47-63
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• 2018

Government R&D grants for SMEs have risen to three trillion Korean won a year, placing Korea second among OECD nations. Indeed, analysis results have revealed that government support has not only expanded corporate R&D investment and the registration of intellectual property rights but has also increased investment in tangible and human assets and marketing. However, value added, sales and operating profit have lacked improvement owing to an ineffective recipient selection system that relies solely on qualitative assessments by technology experts. Nevertheless, if a predictive model is properly applied to the system, the causal effect on value added could increase by more than two fold. Accordingly, it is important to focus on economic performance rather than technical achievements to develop such a model.

• Journal of Korea Port Economic Association
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• v.33 no.4
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• pp.99-116
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• 2017

This paper analyzes the characteristics of change in economic indicators logistics business performance indicators in Japan over the past decade. We compare the differences in management performance of groups related to logistics business strategy. This is because we want to show that the logistics business strategy is reflected in the management performance. Research methods include correlation analysis, crossover analysis, and variance analysis. The main results are as follows. First, logistic companies' sales are highly correlated with economic indicators such as GDP, trade value, and stock price. Second, there is a correlation between the business sectors and the proportion of tangible assets. It is understood that different business strategies are appropriate for each industry and each period. Third, the effects of business strategy variables on business performance variables were significant. In particular, the interaction effect of three variables showed a difference in the effect on the yield. The results of this study provide a better understanding of how logistics companies achieve a high performance in the changing economic environment over the past decade.

• KIPS Transactions on Computer and Communication Systems
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• v.1 no.3
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• pp.229-242
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• 2012

Although many companies acknowledge the necessity of investment of information security, it is difficult to grasp a tangible effect and to calculate a scale of damage from the security incident. Consequently, companies are under the reality that it is not easy to make an investment decision for information security and to calculate the investment scale. For the investment decision making, although there are several traditional techniques of investment analysis, the investment of information security, comparing to other tangible assets, has limitations in using traditional techniques due to the highly uncertain investment effects. In this study, the traditional technique of investment analysis will be described, and the application method of analytic technique for Real Option, which is developed from the evaluation technique of highly uncertain financial futures and options, will be suggested.