• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.9
• /
• pp.112-119
• /
• 2016

This study aims to examine propping by the controlling shareholders and the corporate value of Korean firms with agency problems and propping perspectives. Propping refers to a transfer of resources from a higher ownership firm to a lower ownership firm, in order to prevent the latter from going bankrupt. This study used a sample of 4,077 companies listed on the KRX data exchange from 2004 to 2014. We used proxy variables such as long-term supply contracts, asset and business sales, credit facilities, loans, and equity investments to affiliates as wealth transfer instruments of the controlling shareholders. We found that propping occurred by the equity investment of affiliates in Korean firms. Also, we found that the Korean firm's value was decreased by the affiliate equity investment.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.10
• /
• pp.520-526
• /
• 2016

This study aims to develop a distress prediction model, in order to evaluate the distress prediction power for first-class hotels and to calculate the average financial ratio in the Seoul area by using the financial ratios of hotels in 2015. The sample data was collected from 19 first-class hotels in Seoul and the financial ratios extracted from 14 of these 19 hotels. The results show firstly that the seven financial ratios, viz. the current ratio, total borrowings and bonds payable to total assets, interest coverage ratio to operating income, operating income to sales, net income to stockholders' equity, ratio of cash flows from operating activities to sales and total assets turnover, enable the top-level corporations to be discriminated from the failed corporations and, secondly, by using these seven financial ratios, a discriminant function which classifies the corporations into top-level and failed ones is estimated by linear multiple discriminant analysis. The accuracy of prediction of this discriminant capability turned out to be 87.9%. The accuracy of the estimates obtained by discriminant analysis indicates that the distress prediction model's distress prediction power is 78.95%. According to the analysis results, hotel management groups which administrate low level corporations need to focus on the classification of these seven financial ratios. Furthermore, hotel corporations have very different financial structures and failure prediction indicators from other industries. In accordance with this finding, for the development of credit evaluation systems for such hotel corporations, there is a need for systems to be developed that reflect hotel corporations' financial features.

• Journal of the Korea Society of Computer and Information
• /
• v.24 no.10
• /
• pp.183-188
• /
• 2019

This study is a descriptive research to compare and analyze the current status of disaster-related curriculum between emergency department and nursing department Research and analysis targets were 41 universities which include the emergency department in South Korean by using the universities' internet homepage, finally 30 universities were researched by removing the universities which doesn't upload the curriculum on their homepage, have emergency department or have nursing department. The research data were collected and analyzed by using the universities' internet homepage. The Keyword is 'Disaster', 'Catastrophe', and 'Emergency' to search the name of the subjects. The curriculum calculated as a percentage of frequency by using the status of disaster-related subjects opening, classification of major education, grade, credit, number of class, practical hours, and the total number of subjects. According to the study, 29 universities (96.7%) of emergency department and 19 universities (63.3%) of nursing department has the disaster-related subjects in their curriculum. The current status of the class opening is emergency department at second grade and nursing department as fourth grade. As a subject of major, two credits are the common class credits. Based on the results of the study, knowledge and skills and training courses are necessary to develop the ability to cope with disasters in the disaster field. The curriculum that matches the role of health care resources will be required.

• Journal of vocational education research
• /
• v.35 no.6
• /
• pp.21-38
• /
• 2016

The purpose of this study is to analyze an experience of field practice perceived by vocational teachers. Data for analysis were collected from 689 vocational teachers who participated in the training at the Center for in-service teacher education in the School of Agriculture and Life Sciences, Seoul National University and at the Center for in-service teacher education of Chungnam National University. After screening, 685 responses were used in the analysis. As a result, it turned out that only 112 vocational teachers(16.5%) participated in the field practice for more than 4 weeks when they were in pre-service education. However, vocational teachers seemed to perceive that experience of field practice was generally required in pre-service education(average 4.07). In-depth questionnaire was conducted on 143 respondents who replied that they participated in field practice program for more than 4 weeks and those who participated in the program for less than 4 weeks but completed the paperwork. Most of vocational teachers who participated in field practice were placed in small and medium sized enterprises, stayed at home or relatives' home and commuted by the bus or subway. In this research, 34.8% of the vocational teachers who participated in field practice received financial compensation and 80.3% of the teachers got credit recognition. The perception of satisfaction on field practice program was found to be moderate(average 3.51).

• Journal of Digital Convergence
• /
• v.16 no.12
• /
• pp.175-183
• /
• 2018

This study analyzes determinants of bond returns in terms of systematic risk versus idiosyncratic risk by examining relationship among those factors. First we examined the cross-sectional determinants of corporate bond returns with Korean bond market data from 2001 to 2014. This paper uses term factor and default factor for systematic risk, and duration factor and credit rating factor for idiosyncratic risk. The empirical result shows that systematic risk can explain cross-sectional differences of bond returns rather than idiosyncratic risk which is the same result in advanced markets(US or Europe). This result is different from the previous Korean studies which showed that idiosyncratic risk is more important than systematic risk in Korean bond market. The reason for the different result may be the longer sample period which includes the most recent period. It is insisted that Korean bond market is getting more synchronized with the advanced bond market. In conclusion, this empirical result implies that Korean bond portfolio managers should focus on systematic risk, which is contrary to current system in Korean asset management industry.

• (The)Korea Educational Review
• /
• v.22 no.3
• /
• pp.353-383
• /
• 2016

The purpose of this study is to examine the outcomes and implementation process from various stakeholders' perspectives related to the CAMPUS Asia (Collective Action for Mobility Program of University Student in Asia) pilot project, and thereby provide practical suggestions for it. The pilot projet of the CAMPUS Asia lasted four years from 2012 to 2015. A hybrid approach was used to analyze its implementation process, and diverse sources of data such as documents, surveys, and interviews were employed for analysis. Findings showed the accomplishments of the CAMPUS Asia pilot project for promoting participants' development and building the foundation for international cooperation at the governmental and institutional levels, while various limitations were also identified. In addition, analysis was conducted to identify the contextual factors that influenced the outcomes and limitations of the CAMPUS Asia pilot project at the governmental, institutional, and student levels. Based on these findings, multiple suggestions to maximize the effect of the CAMPUS Asia pilot project were provided, for example, to set up the ultimate goals of the project clearly, for governments to coordinate different academic systems by country and address the issue of credit transfer, to establish the uniqueness of the project, to strengthen the curriculum of each consortium, to co-manage the extra-curricular activities, and to develop the specialized career paths.

• Knowledge Management Research
• /
• v.22 no.2
• /
• pp.247-268
• /
• 2021

Investors mainly use PER and PBR among financial ratios for valuation and investment decision-making. I conduct an analysis of two basic financial ratios from a statistical perspective. Financial ratios contain key accounting numbers which reflect firm fundamentals and are useful for valuation or risk analysis such as enterprise credit evaluation and default prediction. The distribution of financial data tends to be extremely heavy-tailed, and PER and PBR show exceedingly high level of kurtosis and their extreme cases often contain significant information on financial risk. In this respect, Extreme Value Theory is required to fit its right tail more precisely. I introduce not only GPD but exGPD. GPD is conventionally preferred model in Extreme Value Theory and exGPD is log-transformed distribution of GPD. exGPD has recently proposed as an alternative of GPD(Lee and Kim, 2019). First, I conduct a simulation for comparing performances of the two distributions using the goodness of fit measures and the estimation of 90-99% percentiles. I also conduct an empirical analysis of Information Technology firms in Korea. Finally, exGPD shows better performance especially for PBR, suggesting that exGPD could be an alternative for GPD for the analysis of financial ratios.

• The Journal of the Korea Contents Association
• /
• v.21 no.3
• /
• pp.232-243
• /
• 2021

This study analyzed how K-MOOC was used and identify the academic achievements in higher education. The participants who completed the survey questionnaire were composed of 379 students who were in curriculum-related extra-curriculum using K-MOOC. Results show that the participation rate in individual learning activities was high, thus indicating the activities were perceived positively. In addition, students perceived positively their academic achievements of receiving, valuing, and responding in affective area, as well as synthesis and evaluation of knowledge in cognitive area. Students were also satisfied that they had no psychological burden to the credit of the course and they could take a course from another college. By contrast, platform instability, too much online content, and tedious activities in the lessons were perceived negatively. Nonetheless, the group assessment results suggested that the students taking a course related to their major had further engagement in discussions, and their academic achievement was higher. Based on the foregoing findings, the study proposed developing a subject matter with various theme, utilization plans, interaction reinforcement, and quality management by supporting instructional design strategies in order to expand the use of K-MOOC both as a general education and a major curriculum. The results obtained in this study represent baseline data that may assist in the decision making for university system and operation plan.

• Journal of the Korea Society of Computer and Information
• /
• v.28 no.3
• /
• pp.167-175
• /
• 2023

In the context of COVID-19, this study was conducted to study how college students' earned grades and average grade point averages changed according to face-to-face and non-face-to-face classes. For this study, grade data was extracted using an access database. For the study, 152 students during the 3rd semester were compared and analyzed the grade point average, average grade point average, midterm exam, final exam, assignment score, and attendance score of students who participated in non-face-to-face and face-to-face classes. As an analysis method, independent sample t-test statistical processing was performed. It was concluded that the face-to-face class students had better grades and average GPA. As a result, the face-to-face class students showed 4.39 points higher than the non-face-to-face class students, and the average grade value was 0.6642 points higher. As a result of the comparative analysis, it was statistically significant, and the face-to-face class averaged 21.22 and the non-face-to-face class had 16.83 points. In conclusion, it was confirmed that face-to-face students' grades were generally higher than those of non-face-to-face students, and that face-to-face students showed higher participation in class.

• Korea Trade Review
• /
• v.41 no.5
• /
• pp.235-254
• /
• 2016

Recently, enterprise information management activities have been applied to promote electronic trade, while changing the paradigm of cross-border trade and overall trade business processes. L/C, which facilitates payment from the trade transaction in a company, has been able to eliminate the high cost and inefficient element of the trade process by utilizing the electronic letter of credit (e-L/C). This study examines the influential relationship among the e-trade utilizing factor (such as the perceived ease of use and the volition of CEO), the e-L/C and corporate performance, and the study aimed to verify the moderating effect of customer service level by organizations utilizing e-trade. For the purpose of the research, we conducted a survey implementing the e-L/C and analyzed the 338 data collected. The results of this research are as follows. First, the perceived ease of use and volition of CEO have positive impact on the e-L/C. Second, the e-L/C has positive impact on the business performance. Third, a moderating effect shows on the customer expectation level. The main implication of this study is that the perceived ease of use is to be considered preferentially than the volition of CEO in order to utilize electronic trading, and the volition of CEO shows synergy effect with customer service level by organization utilizing e-trade.