• Korean Business Review
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• v.11
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• pp.241-253
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• 1998

One form of the anomalies of stock price changes as reaction to earnings information is believed to be caused by the so-called earnings fixation, which is the overreaction of stock prices to earnings. According to the Sloan (1996) study, stock price changes are positively associated with earnings at the time of earnings releases, but the association becomes negative after that, as the early overreaction is corrected. However, the problem in his study is to use cash flows computed by adjusting earnings with appropriate income statement and balance sheet items. As Bahnson et al. (1996) show, these cash flows substantially deviate from SFAS No. 95 cash flows and the sample used in this study is found to be subject to this substantial measurement error. Therefore, the result of Sloan might be driven by this error and the reexamination of earnings fixation is warranted. The results are generally consistent with those in Sloan. First, earnings is positively associated with stock price changes at the time of earnings releases, but the association becomes negative after that. Second, cash flows show a weak association with stock price changes at the time of earnings releases, but the association become stronger thereafter. Third, when seperated from cash flows, accruals have an incremental explanation about stock price changes beyond that of cash flows, accruals have a negative association later on. This finding is consistent with stock price overreaction to accruals, even when more cleaner cash flow data are used.

• Korean Journal of Occupational Health Nursing
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• v.8 no.2
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• pp.193-211
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• 1999

This study was carried out to investigate the management and support system affecting to the occupational health nursing services(OHNS) provided in group occupational health agencies(GOHA). Questionnaire was developed and distributed to 82 nurses who were working in GOHA and who agreed to participate in the survey. The results were as follow: 1. OH nurses responded were mostly in the age of twenty to thirties(89%), married(73.7%), technical college graduates(88.9%), worked in hospital(85.4%) and participated more than 1 year in group occupational health services (96.3%). 2. Fifty eight point four percent of the OH nurses worked in number of workplace more than 30 to less than 60 in the OHNS form. The figure of workplaces undertaken by nurses was ranged greatly from 9 to more than 100. Number of employees who cared by nurses were mostly under 5,000 peoples in 93.3%. The types of industry was mostly manufacturing and located in the order of factory complex area, suburban, urban and others. 3. Most OH nurses(87.8%) were fully involved in the OHNS for the SSE. Their working days to visit SSE was 5 days per week(77.8%) and one day in the GOHA at 41.3%. 4. The OH documents using by nurses were found in more than 23 different types. However, they were largely summarized in the types of 'Workplace Health Management Card', 'Personal Health Counselling Card', 'Daily Health Management Report', 'Visiting List of Workplace' and 'Sick Employee List'. 5. The items of laboratory test provided by GOHA were mostly achieved in the purpose of basic health examination. They were used to be the blood pressure check(98.8%), blood sugar test (98.8%), urine sugar and protein(91.4%), SGOT and SGPT(85.3% each), cholesterol (82.9%), hepa vaccine immunization(82.9%), r-GPT(81.7%), hemoglobin(79.3%) and triglyceride(75.5%). 6. The OH nurses(92.7%) followed the work pattern to visit the GOHA before and after small-scale enterprises(SSE) visit by car driven by nurses in 74.3%. They were payed by GOHA for transportation fees in certain amounts. However, nurse is the main person(75.0%) who covers up in case of traffic accident. If the GOHA has no transportation regulation for the formal workplace visit, data showed that nurses had been responsible to take charge(31.7%). 7. The personnel manager who takes in charge for nursing services was 'nurse' in 61.7% and 41.2% worked as the final decision maker related to nursing work. The OH nurses' opinions about factors affecting to the management were classified in the four areas such as 'Nature(Quality) of health professional'. 'Content of OHNS', 'Delivery system of the GOHS', and 'Others'. The factors were indicated highly in 'Authority as health professional', 'Level of perception of director on the OH' and 'Physical work condition for OHNS'. The things that this study suggests in the recommendation would be summarized in such as the management and supporting system working for SSE in the OHNS is necessary to reform thoroughly. The reconsidered aspects might be in the matters of number of workplaces undertaken by nurses, development of effectively practical health documents, preparation for guideline of the laboratory test in the workpleces, establishment of convenient and encouraging support system and cooperation between other health professionals with respect and skill.

• Management & Information Systems Review
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• v.22
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• pp.137-165
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• 2007

It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

• Journal of the Korean earth science society
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• v.40 no.3
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• pp.227-239
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• 2019

Heavy snowfall events frequently occur in the Gangwon province, and the snowfall amount significantly varies in space due to the complex terrain and topographical modulation of precipitation. Understanding the spatial characteristics of heavy snowfall and its prediction is particularly challenging during snowfall events in the easterly winds. The easterly wind produces a significantly different atmospheric condition. Hence, it brings different precipitation characteristics. In this study, we have investigated the microphysical characteristics of snowfall in the windward and leeward sides of the Taebaek mountain range in the easterly condition. The two snowfall events are selected in the easterly, and the snow particles size distributions (SSD) are observed in the four sites (two windward and two leeward sites) by the PARSIVEL distrometers. We compared the characteristic parameters of SSDs that come from leeward sites to that of windward sites. The results show that SSDs of windward sites have a relatively wide distribution with many small snow particles compared to those of leeward sites. This characteristic is clearly shown by the larger characteristic number concentration and characteristic diameter in the windward sites. Snowfall rate and ice water content of windward also are larger than those of leeward sites. The results indicate that a new generation of snowfall particles is dominant in the windward sites which is likely due to the orographic lifting. In addition, the windward sites show heavy aggregation particles by nearby zero ground temperature that is likely driven by the wet and warm condition near the ocean.

• The Korean Journal of Archival Studies
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• no.35
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• pp.3-40
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• 2013

Establishment and expansion of a FOI regime is a fundamental basis for modern democracy. Informed decisions and supports by the people are critical to establishment of democratic institutions and policies. The best tool to make informed decisions and to ensure accountability is the FOI. For effective FOI, good records management is necessary requirement. This paper observes and analyses the development of the FOI in the U.S., the Open Government policy, and the government records management reforms under Obama Administration to search viable solutions for Korean FOI and public records management reforms. Major revisions and advancement of the FOIA in the United States are examined, especially the revision of the FOIA as the OPEN Government Act of 2007. The FOIA revision enhanced greatly the freedom of information in the U.S. including the establishment of an independent FOI ombudsman by the Congress. The paper also discusses the Presidential memoranda on the Open Government and the FOI by President Obama, the following directives, Presidential memorandum on government records management and the Government Records Management Directive. Major contents of the directives, plans, and achievement are summarized and analysed. Finally, this paper compares the government records management reforms under former President Roh Mu Hyun with the Obama's reform drive. The comparison found that major difference in the "top-down" government records reforms are the difference in democratic institutions such as weak congressional politics, strong bureaucratic obstacles, and relatively weak social and professional supports for the reforms in Korea, while these reforms were similar in terms that they were driven by insightful political leaders. Independent FOI ombudsman and national records administration are necessary for such democratic reforms.

• Journal of the Korean Institute of Landscape Architecture
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• v.49 no.5
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• pp.125-137
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• 2021

How can we explain the phenomenon of small, old alleyways in the city becoming rising commercial places attracting people from an aesthetic perspective? This research discusses distinctive aesthetic experiences of urban commercial alleyways, which are located on inner roads and consist of small-scale stores and explore the specific aspects of Sharosu-gil, located in Gwanak-gu, Seoul. The aesthetic experience of urban commercial alleyways is generated by the contrast with the refined urban fabric along main roads in terms of space, the gap between the old and the new, and the antagonism between the known and the less known. The approach to Sharosu-gil consists of the high-rise buildings along the main road built in the 2000s, then encountering low-rise buildings on inside roads built from the late 1970s to the present. Therefore, it is judged that the site has sufficient conditions to generate the aesthetic experience as an urban commercial alleyway. As a result of analyzing the street improvement projects, first, the official announcement of the name 'Sharosu-gil' was interpreted as an escape from the place specificity and garnered the acquisition of the characteristics of an alternative. Secondly, the improvement project for old-established signboards was interpreted as harmony between the new and the old and the loss of temporality. Thirdly, in the pedestrian priority road project, the pavement was interpreted as a reinforcement of the identity as an alleyway and the visualization of the area. Since the reality of urban commercial alleyways depends on the user's visiting, it is necessary to interpret alleyways from the perspective of the senses and aesthetics, not just from social phenomena or capital logic perspective. The study will cast implications for relevant schemes and data-driven research.

• Korean Journal of Agricultural and Forest Meteorology
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• v.23 no.4
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• pp.235-250
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• 2021

The overarching question of this study is how a typical rice cultivation system in Gimje, Korea was keeping up with the triple-win challenge of climate-smart agriculture (CSA). To answer this question, we have employed (1) quantitative data from direct measurement of energy, water, carbon and information flows in and out of a rice cultivation system and (2) appropriate metrics to assess production, efficiency, GHG fluxes, and resilience. The study site was one of the Korean Network of Flux measurement (KoFlux) sites (i.e., GRK) located at Gimje, Korea, managed by National Academy of Agricultural Science, Rural Development Administration. Fluxes of energy, water, carbon dioxide (CO₂) and methane (CH₄) were directly measured using eddy-covariance technique during the growing seasons of 2011, 2012 and 2014. The production indicators include gross primary productivity (GPP), grain yield, light use efficiency (LUE), water use efficiency (WUE), and carbon uptake efficiency (CUE). The GHG mitigation was assessed with indicators such as fluxes of carbon dioxide (F_CO2), methane (F_CH4), and nitrous oxide (F_N2O). Resilience was assessed in terms of self-organization (S), using information-theoretic approach. Overall, the results demonstrated that the rice cultivation system at GRK was climate-smart in 2011 in a relative sense but failed to maintain in the following years. Resilience was high and changed little for three year. However, the apparent competing goals or trade-offs between productivity and GHG mitigation were found within individual years as well as between the years, causing difficulties in achieving the triple-win scenario. The pursuit of CSA requires for stakeholders to prioritize their goals (i.e., governance) and to practice opportune interventions (i.e., management) based on the feedback from real-time assessment of the CSA indicators (i.e., monitoring) - i.e., a purpose-driven visioneering.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.7
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• pp.1216-1221
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• 2022

Ships tend to be larger to increase the efficiency of cargo transportation. Larger ships lead to increased travel time for ship workers, increased work intensity, and reduced work efficiency. Problems such as increased work intensity are reducing the influx of young people into labor, along with the phenomenon of avoidance of high intensity labor by the younger generation. In addition, the rapid aging of the population and decrease in the young labor force aggravate the labor shortage problem in the maritime industry. To overcome this, the maritime industry has recently introduced technologies such as an intelligent production design platform and a smart production operation management system, and a smart autonomous logistics system in one of these technologies. The smart autonomous logistics system is a technology that delivers various goods using intelligent mobile robots, and enables the robot to drive itself by using sensors such as lidar and camera. Therefore, in this paper, it was checked whether the mobile robot could autonomously drive to the stop sign by detecting the passage way of the ship deck. The autonomous driving was performed by detecting the passage way of the ship deck through the camera mounted on the mobile robot based on the data learned through Nvidia's End-to-end learning. The mobile robot was stopped by checking the stop sign using SSD MobileNetV2. The experiment was repeated five times in which the mobile robot autonomously drives to the stop sign without deviation from the ship deck passage way at a distance of about 70m. As a result of the experiment, it was confirmed that the mobile robot was driven without deviation from passage way. If the smart autonomous logistics system to which this result is applied is used in the marine industry, it is thought that the stability, reduction of labor force, and work efficiency will be improved when workers work.

• The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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• v.13 no.1
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• pp.42-55
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• 2008

To evaluate the accuracy of currents measured by HF radar in the coastal sea off Keum River estuary, we compared the facing radial vectors of two HF radars, and HF radar-derived currents with in-situ measurement currents. Principal component analysis was used to extract regression line and RMS deviation in the comparison. When two facing radar's radial vectors at the mid-point of baseline are compared, RMS deviation is 4.4 cm/s in winter and 5.4 cm/s in summer. When GDOP(Geometric Dilution of Precision) effect is corrected from the RMS deviations that is analyzed from the comparison between HF radar-derived and current-metermeasured currents, the error of velocity combined by HF radar-derived current is less than 5.1 cm/s in the stations having moderate GDOP values. These two results obtained from different method suggest that the lower limit of HF radar-derived current's accuracy is 5.4 cm/s in our study area. As mentioned in previous researches, RMS deviations become large in the stations located near the islands and increase as a function of mean distance from the radar site due to decrease of signal-to-noise level and the intersect angle of radial vectors. We found that an uncertain error bound of HF radar-derived current can be produced from the separation process of RMS deviations using GDOP value if GDOP value for each component is very close and RMS deviations obtained from current component comparison are also close. When the current measured in the stations having moderate GDOP values is separated into tidal and subtidal current, characteristics of tidal current ellipses analyzed from HF radar-derived current show a good agreement with those from current-meter-measured current, and time variation of subtidal current showed a response reflecting physical process driven by wind and density field.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.2
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• pp.197-214
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• 2024

This study aimed to investigate students' perceptions at science and technology specialized universities towards entrepreneurship support policies and to derive policy improvement measures by applying a bottom-up approach to reflect the requirements of the policy beneficiaries, i.e., the students. Specifically, the research explored effective execution strategies for student entrepreneurship support policies through a survey and analysis of KAIST students. The findings revealed that KAIST students recognize the urgent need for improvement in sharing policy objectives with the student entrepreneurship field, reflecting the opinions of the campus entrepreneurship scene in policy formulation, and constructing an entrepreneurship-friendly academic system for nurturing student entrepreneurs. Additionally, there was a highlighted need for enhancement in the capacity of implementing agencies, as well as in marketing and market development capabilities, and organizational management and practical skills as entrepreneurs within the educational curriculum. Consequently, this study proposes the following improvement measures: First, it calls for enhanced transparency and accessibility of entrepreneurship support policies, ensuring students clearly understand policy objectives and can easily access information. Second, it advocates for student-centered policy development, where students' opinions are actively incorporated to devise customized policies that consider their needs and the actual entrepreneurship environment. Third, there is a demand for improving entrepreneurship-friendly academic systems, encouraging more active participation in entrepreneurship activities by adopting or refining academic policies that recognize entrepreneurship activities as credits or expand entrepreneurship-related courses. Based on these results, it is expected that this research will provide valuable foundational data to actively support student entrepreneurship in science and technology specialized universities, foster an entrepreneurial spirit, and contribute to the creation of an innovation-driven entrepreneurship ecosystem that contributes to technological innovation and social value creation.