• Journal of Digital Convergence
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• v.9 no.2
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• pp.33-40
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• 2011

It is very difficult to predict what effects the introduction of IFRS(International and Financial Reporting Standars) has on the existing system. Only the cautious and careful adoption of new system will minimize the confusion. The purpose of this paper is to propose appropriate design and construction of IS on financial statement according to the introduction of IFRS(International Financial Reporting Standard) in order to minimize the confusion. In order to meet that purpose, suggestions on five areas in consolidation financial statement are proposed. Those five aspects are as follows: Area of SPE Consolidation, Area of internal transaction setoff, Area of unrealized gain or loss setoff, Area of eliminate the investment account against the stockholder's equity, Making Consolidation footnote and Consolidation CoA as other area.

• Journal of Korean Society of Water and Wastewater
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• v.18 no.4
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• pp.500-507
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• 2004

This study was conducted to evaluate the equity of the flow distribution from rapid mixing basin to the flocculation basins. Also, several types of inlet structures of the open channel affecting the flow pattern and distribution trend were studied using Computational Fluid Dynamics (CFD) simulation. For investigating the factual phenomena in distribution channel, we selected a certain domestic water treatment plant with capacity of $361,000m^3/d$. From the measurements of flow discharge, it is investigated that this existing inlet geometry resulted in significant inequitable distribution. The both largest deviations in the basins and rows were over 10%. In order to reduce the these deviation, this study suggested installing a baffle against the influent, and showed the effectiveness which the largest deviation was less than 3%. Also, it was concluded that the existing design method of open channel could be improved by three-dimensional hydrodynamic analysis for optimizing the even flow.

• Journal of Distribution Science
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• v.16 no.11
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• pp.21-27
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• 2018

Purpose - This study investigates the financial ratio of savings banks and the effect of the ratio having influence upon bankruptcy by quantitative empirical analysis of forecast model to give material of better management and objective evidence of management strategy and way of advancement and risk control. Research design, data, and methodology - The author added two growth indexes, three fluidity indexes, five profitability indexes, and four activity indexes CAMEL rating to not only the balance sheets but also the income statement of thirty savings banks that suspended business from 2011 to 2015 and collected fourteen financial ratio indexes. IBMSPSS VER. 21.0 was used. Results - Variables having influence upon bankruptcy forecast models included total asset increase ratio and operating income increase ratio of growth index and sales to account receivable ratio, and tangible equity ratio and liquidity ratio of liquidity ratio. The study selected total asset operating ratio, and earning and expenditure ratio from profitability index, and receivable turnover ratio of activity index. Conclusions - Financial supervising system should be improved and financial consumers should be protected to develop saving bank and to control risk, and information on financial companies should be strengthened.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.283-293
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• 2019

The purposes of the study are threefold: (1) develop key successful factors of blockchain platform for micro-enterprises based on Balanced Scorecard (BSC), (2) find out the correlation between the key successful factors of blockchain platform for micro-enterprises, and (3) understand the perception of micro-enterprise blockchain and the difference between theoretical guidance and practical application. This study combines Interpretative Structural Modeling Method, (ISM) and Decision-Making Trial and Evaluation Laboratory (DEMATEL) to analyze the causal relationships and hierarchical structures of the 12 key successful factors of blockchain platform for micro-enterprises and understand the correlation between factors. The 12 key successful factors developed based on the four perspectives of the Balanced Scorecard, and the questionnaire designs based on the concept of DEMATEL, and then analyzed data by DEMATEL and ISM methods to understand the correlation between key factors. The research results show that the key successful factors of blockchain platform for micro-enterprises include "brand equity", "security and anti-counterfeiting", "sales growth", "transparency and clear", "trust", "consensus mechanism", "traceability", "consistency", "tracking", "innovation management", "international", "organizational adaptation", in which consumer "trust" plays an important role. Micro-enterprises can use blockchain to expand the market, provide customers with better service quality, and bring sales growth to micro-enterprises.

• Journal of Distribution Science
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• v.17 no.2
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• pp.35-42
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• 2019

Purpose - There is little research on the market of foreign infant education materials. So, it is needed to deeply examine the development and preference factors of foreign infant education materials. Therefore, this study presents a future method and model for analyzing the important variables of buying foreign infant education materials. Research design, data, and methodology - The conjoint analysis method and model of this paper is used as follows. Conjoint analysis method is possible to derive the attributes to be analyzed through the model of the preferred factors, and then to derive the sub-attributes of the attributes. Results - This study derived preference attributes between brand benefit, equity (brand image, loyalty, awareness), distribution network (department store, specialty stores, discount store, internet mall), and service quality (tangibles, reliability, responsiveness, assurance, empathy) in infant education materials conjoint model. Conclusions - Since the opening of the education market in Korea, parents have a high education level due to low birth rate. The advantages of the conjoint analysis method have been extended to the study of infant education materials. Based on this, this paper will identify important attributes that are considered in preference of foreign infant education materials and help to establish and implement future marketing strategies.

• Journal of Distribution Science
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• v.18 no.5
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• pp.5-13
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• 2020

Purpose: The aim of this article is to test the link between growth of loan distribution and Bank Valuation in Vietnam's banking sector. At the same time, the study also compared the differences in the effect of growth of loan to valuation bank in banks of different sizes, ownership rates and bank values. Research design, data and methodology: With panel data estimation techniques along with robust standard error for a sample of the banks listed on Vietnam stock exchange from 2012 to 2019. Results: Growth of loan has a positive impact on Bank Valuation (by Tobin's Q). A closer investigation provides evidence for the differential valuation effect of loan growth depending on different features of banks. Specifically, loan growth is found positively and significantly associated with Bank Valuation in small and non-state-owned banks only. Besides, bank size, deposit, and return on equity are found negatively associated with Tobin's Q, while loan loss provisions exhibit a positive relation with this measure of Bank Valuation. Conclusions: These findings provide contributions to the literature on the existence of the effect of loan growth on Bank Valuation. At the same time, the study also provides practical implications for policy makers in banks and investors.

• Journal of Distribution Science
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• v.14 no.8
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• pp.23-33
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• 2016

Purpose - The purpose of this study was to analyze the effects of education & training and organizational culture on job satisfaction and organizational commitment and then examine the difference that would appear depending on the job title in the case of Korean employees in the manufacturing industry. Research design, data, and methodology - Our sample consisted of 1,013 administrative employees in the manufacturing industry with data extracted from the 4th Human Capital Corporate Panel (2011) survey. Descriptive statistics and multiple regression analysis were conducted. Results - Results showed that education & training had positive effect only on job satisfaction while organizational culture had positive effect on both job satisfaction and organizational commitment. Components under education & training (duration of the formal learning, efficacy of formal learning and efficacy of informal learning) and organizational culture (equity, communication, talent recognition, innovation) that were found to be affecting job satisfaction and organizational commitment revealed to be different depending on the hierarchical position of the employee. Conclusions - Different approach and policy for each group of job title could be considered in order to increase job satisfaction and enhance organizational commitment of the employees.

• Journal of Distribution Science
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• v.14 no.8
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• pp.93-100
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• 2016

Purpose - This study examines lenders' reactions to M&A, based on the strength of the lender-borrower relationship and the lender's expectations of the potential benefits or risks of the deal. Research design, data, and methodology - This research addresses the lender's influence on the implementation stage of a large-scale strategic action such as M&A to understand the motivation and dynamics of lenders' responses and empirically examines how the lender-borrower relationship influences the focal firm's merger and acquisition (M&A) transactions, using data on 501 M&A deals in Japan from 1990 to 2010. Results - The presented analysis found that lenders that have a strong lender-borrower relationship, especially those showing a high debt equity ratio, support borrowers' M&A progress and the target firm's lenders resist the deal progressing and may raise the acquisition premium if their current power relative to borrowers is weak. Conclusions - Stakeholders including lenders do not favor strategies of focal firms that threaten their future benefits, while they also tend to estimate the potential benefits and losses by comparing their current circumstances with those of other stakeholders. The empirical results of the presented analysis help explain the mechanism of lenders' reactions and offer insights into the power of a closer and stronger lender-borrower relationship.

• The Journal of Industrial Distribution & Business
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• v.11 no.3
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• pp.7-17
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• 2020

Purpose: This study reexamines the test on the pricing of accruals quality. Theory suggests that information risk is a priced risk factor. Using accruals quality as the proxy for information risk, researchers have tested the pricing of information risk. The results are inconsistent potentially because of the information shock in the realized returns that are used as the proxy for expected returns. Based on this argument, this study revisits this issue excluding information-shock-free measure of expected returns. Research design, data and methodology: This study estimates expected returns using the vector autoregression model. This method extracts information shocks more thoroughly than the methods in prior studies; therefore, the concern regarding information shock is minimized. As risk premiums are larger in recession periods than in expansion periods, recession and expansion subsamples were used to confirm the robustness of the main findings. For the pricing test, this study uses two-stage cross-sectional regression. Results: Empirical results find evidence that accruals quality is a priced risk factor. Furthermore, this study finds that the pricing of accruals quality is observed only in recession periods. Conclusions: This study supports the argument that accruals quality, as well as the pricing of information risk, is a priced risk factor.

• Journal of Distribution Science
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• v.17 no.12
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• pp.5-12
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• 2019

Purpose - In this paper, we examine the effect of accrual earnings management and real earnings management on the corporate value of retail corporations. Research design, data, and Methodology - The sample cover firms whose settlement is December among retail companies listed on the Korea Stock Exchange's securities market and KOSDAQ market from 2001 to 2016. Of these, the targets were companies with operating profit and equity capital of zero or higher and with sales data. The secondary data was collected through KIS-VALUE data base. The Jones model and the modified Jones model were used for the calculating the accrual-based earnings management and the real earnings management. Result - According to the empirical results, the relationship between accrual earnings management, real earnings management and firm value is positively significant in the retail industry as in manufacturing industry. These results are also significant when controlling the size, profitability, investment, debt ratio, dividend, and growth potential of a company. Conclusions - The characteristics of the distribution business can be identified and the influence of the various kinds of earnings management, which is being researched around the manufacturing industry, can be studied in the distribution industry to give practical implications to investors.