• The Journal of Industrial Distribution & Business
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• v.11 no.4
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• pp.39-46
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• 2020

Purpose: This study looks at the relevance between discretionary revenue and book-tax differences (hereafter BTDs). While the study of earnings management, which focused on discretionary accruals and real earnings management, has largely made, it has not yet been actively researched on discretionary revenues. Therefore, it was believed that discretionary revenue would expand the preceding study by looking at its relevance to BTD, known as financial reporting quality and measures of tax avoidance. In general, prior research suggested that earnings management make BTDs larger. Thus, the relationship between discretionary revenue and the amount of BTD is predicted positive. Research design, data and methodology: To this end, the method of discretionary revenues was used and BTDs measured in four ways. First, Earnings before income tax - estimated taxable income divided by total asset (BTD). Second is fractional rank variable of BTDs (FBTD). Third is Indicator variable equals 1 if the firm-year has a positive BTD, 0 otherwise (PBTD). Fourth is that Indicator variable equals 1 if the firm-year has a BTDs in top(bottom) quartile, 0 otherwise (LPBTD, LNBTD). 4,251 samples were analyzed in the Korean Security market (KOSPI) from 2003 to 2014. Results Empirical analysis shows that BTDs increases as discretionary revenue increases. These results were equally observed when BTDs was measured as a ranking variable or as a indicating variable. These results indicate that earnings management through the revenue of managers exacerbate the quality of financial reporting. Conclusions: In sum, discretionary revenues can be used as an indicator of making BTDs larger and meaningful as the first study of the Korean capital market where discretionary revenues affect accounting information quality. Investors need to increase interest in discretionary revenues because intervention in financial reporting through revenue accounts by managers can increase information asymmetry and agency costs. This means that studies on discretionary revenues that have been relatively small should be expanded. The results also provide important implications for the relevant authorities and investors. Despite these benefits, however, measurement error problems with estimates still appear as limited points, and prudent interpretations are required, and additional follow-up studies are needed in that variables that are not yet considered in this study may affect our findings.

• The Journal of the Korea Contents Association
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• v.15 no.1
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• pp.519-526
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• 2015

This article presents detailed explanations of the depreciation method using the accumulated depreciation rate function(ADRF) proposed by the author previously, for the practical application. ADRF provides a value of accumulated depreciation rate on the total depreciation charge at any given time, therefore it can be used in a time-based depreciation method. Since the depreciation charge of each period can be systematically computed with ADRF, in every case where the charge is constant or decreasing or increasing, we can choose diverse rational depreciation types for the characteristic of every asset. Also, since the ADRF is the continuous function of time, we can compute the depreciation charge with consistency in cases where assets are owned for partial period. However, we should determine the value of parameter of ADRF. We give some data on the problem.

• Journal of Distribution Science
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• v.14 no.12
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• pp.129-139
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• 2016

Purpose - This paper examines the explanatory power of the agency theory in the determination of cash holdings for Korean retail firms. If the agency theory holds, a firm with strong corporate governance structure tends to have low cash holdings. A strong governance structure makes the CEO of this firm to behave in the interests of shareholders and thus the CEO has low incentive to stockpile cash holdings, which can be easily diverted for the CEO's own managerial purposes. We investigate this relationship between corporate governance structure and cash holdings, by using corporate governance scores as a proxy variable that captures the effectiveness of corporate governance mechanism. Research design, data, and methodology - We adopt the sample of publicly listed retail firms in KOSPI market from 2005 to 2013. Financial and accounting statements are gathered from the WISEfn database. We also use the corporate governance scores published by Korean Corporate Governance Service. The relationship between the corporate governance scores and cash holdings is cross-sectionally estimated based on the ordinary least square method. This estimation method is widely accepted in the existing literature. The sample of large conglomerates, Chebol, and the remainder firms are separately examined as well, to account for the distinctive internal financing environment in these large conglomerates. Results - We mainly contribute to the extant literature by providing empirical evidence against the agency theory of cash policy. Unlike the prediction of agency theory, we confirm statistically insignificant or even positive correlations between the set of corporate governance scores and cash-asset ratios. Almost all the major corporate governance attributes including total score, shareholder rights, board structure, and the quality of information disclosure do not show negative correlations with cash holdings, which poses a strong challenge to the validity of the agency theory in the determination of retail firms' cash holdings. Conclusions - This study presents interesting empirical results with respect to the cash policy in Korean retail firms. Consistent to prior studies, I verify that the agency theory only limitedly explains the level of cash holdings. Future studies may obtain more robust results by examining a longer sample period.

• Archives of design research
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• v.13 no.1
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• pp.7-18
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• 2000

Study of Costume Design Applied The Formativity of Korean Traditional Cloth Wrappers Costume has been coexistion with man ever sine human history began, and in modem society its role in man's living, culture and art has become so great that It is now an object most refreshing and of extensive concern to man. This study, based on the expressive quality and purity of Korean traditional cloth wrappers which have the formativity continuously pursueing new visual inspirations, is to seek new expressional diversities and rediscover our traditional beauty and at the same time to present possibilities of reflecting more unique, new spirit of the times inherent in our culture and of creating certain formative world of design value. In studying, literary reference as atheoretical background, analysis of the formative characteristics of traditional cloth wrappers through corrobcrative data preserved as a cultural asset at museums, and actual making of eight works in total based on the results of analysis have been paralled.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.1
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• pp.29-39
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• 2018

In this study, the applicabilities of flood risk indices using FVI from IPCC, PSR method from OECD, and DPSIR method from EEA, were analyzed. Normalized values of daily maximum rainfall, hourly maximum rainfall, ten minute maximum rainfall, annual precipitation, total days of heavy rainfall (more than 80mm/day), density of population, density of asset, DEM, road statistics, river maintenance ratio, reservoir capacity, supply ratio of water supply and sewerage, and pumping capacity were constructed from 2000 to 2015 for nationwide 113 watersheds, to estimate flood risk indices. The estimated indices were compared to 4 different types of flood damage such as the number of casualties, damage area, the amount of flood damage, and flood frequency. The relationships between flood indices and different flood damage types demonstrated that the flood index using the PSR method shows better results for the amount of flood damage, the number of casualties and damage area, and the flood index using the DPSIR method shows better results for flood frequency.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.15 no.6
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• pp.303-309
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• 2015

The construction process and safety management are an important means of the total projects for the decision-making. As an important management tool of cost, resources and risks of the project, the analysis and evaluations are recorded as an important asset of company. Also, it has become a safety device that could reduce risk factors repeatedly by the decision-making methods for the future similar projects. Component-based software, by reusing the useful part, which was prepared without newly developing all that, by building a new software product, the long-term continuous/steady through the provision of a component-based software, by securing a sales base, it should be the development and supply a wide range of applications. In this paper, we propose the construction process control systems for increasing modifiability of process creation and modification for business efficiency in accordance with the diverse trends in the construction process as a low-cost niche through a component-based software supplier to solve these problems.

• Journal of the Korean Institute of Educational Facilities
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• v.27 no.6
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• pp.3-12
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• 2020

Like most OECD countries, Korea is experiencing a decline in population and demographic changes, deterioration of public facilities, and limited investment in public facilities maintenance due to low economic growth and increased welfare budgets. In this case, not only the inconvenience of using the public facilities can lead to the occurrence of an accident due to the damage of the facilities. However, as the importance of the management of public facilities has not been recognized yet, new policies are being promoted. Korea is expected to reduce the total population since the late 2020s, and there will be a large difference in population reduction between the cities, towns, and towns within the same administrative districts. Therefore, it is necessary to change the management policy regarding the change in demand of public facilities due to population change such as population decrease and aging. Accordingly, this study analyzes the management policies and actual conditions of public facilities in Korea, and suggests the implications for public facilities management by analyzing Japan's public facilities management policies that faced population change and deterioration of public facilities before Korea. The key change in Japan's public facilities management policy is the transition from new to maintenance, which has managed public facilities in terms of existing safety management and asset management.

• Management & Information Systems Review
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• v.35 no.2
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• pp.255-271
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• 2016

The purpose of this research is to analyze the relationship between tacit knowledge and creativity in early stage entrepreneurial ventures in which knowledge could be competitive asset. This study also analyze the moderating effect of social media use on the relationship of tacit knowledge and creativity. From total of 129 survey analysis, this study finds the positive relationship between tacit knowledge and creativity. The result also shows that social media has a moderating effect on the relationship between tacit knowledge and creativity with a negative path coefficient. That is, social media can reduce the positive effect of tacit knowledge on creativity. This research implies importance of tacit knowledge in early stage entrepreneurial ventures and suggests social media usage to improve creativity.

• Journal of the Korea Safety Management & Science
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• v.16 no.2
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• pp.217-230
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• 2014

The purpose of this study is to develop the Generalized Depreciation Function (GDF) and Winfrey Depreciation Function (WDF) by reviewing methods for the depreciation accountings. The Depreciation Accounting Models (DAM), including straight-line model, declining-balance model, sum-of-the-year-digit model and sinking fund model presented in this paper, are reclassified into the charging pattern of increasing type, decreasing type and constant type. This paper also discusses the development of the GDFs based on convex type, concave type and constant type according to the demand pattern of product, frequency of plant usage, deterioration of time, relative inadequacy, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) of the Total Productive Maintenance (TPM). The WDFs presented in this paper depict a sudden degradation of plant performance by measuring the change of TPM activity at the midpoint of useful life of asset. The WDFs are classified into left-modal type, symmetrical type and right-modal type by varying the value of skewness and kurtosis. Moreover, three increasing patterns, such as convex, concave and linear types, are used in this paper to present the distinct identification of WFDs by using Instantaneous Depreciation Rate (IDR) in terms of Performance Depreciation Function (PDF) and Depreciation Density Function (DDF). In order to have better understanding of depreciation models, the numerical examples are used for evaluating the Net Operating Less Adjusted Tax (NOPLAT) and Economic Value Added (EVA). It is concluded that the depreciation models showing a large dispersion of EVA require the adjustment of NOPLAT and Invested Capital (IC) based on the objective cash basis and net operating activity for reducing the variation of EVA.

• Management & Information Systems Review
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• v.32 no.1
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• pp.135-151
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• 2013

The study has been carried out to understand productivity-related factors that have been connected to improve financial independence rate of national university hospital. In order to achieve such research purpose as working out implications of efficient resource management, data from the four years between 2007 to 2010 of 12 national university hospitals were reviewed. According to the results, the hospitals came up with significant differences in Value Added to Total Asset, Value Added to Tangible Fixed Assets, Value Added to Personnel Expenses and Value Added Ratio to Patient Revenues. In addition, after the relation between the investment efficiency and profitability of the national university hospitals was investigated, it was learned that application of basic environmental factors would have an influence on a profitability index Operating Margin. As long as the basic environmental factors are adopted, Operating Margin of the national university hospitals is improved under the condition that the Value Added to Tangible Fixed Assets for Production and the Value Added to Personnel Expenses gets higher but the Value Added Ratio to Patient Revenues gets lowered.