• The Journal of Society for e-Business Studies
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• v.19 no.2
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• pp.143-158
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• 2014

Country ownership and management of information security companies generally do not clearly separate from the Board of Directors to function smoothly controlling shareholders do not participate in management decision-making and internal control board does not perform the task correctly, they said the issue was raised. The purpose of this study is to improve corporate governance, information security companies of the outside director system was introduced as part of the transparency of accounting information to investigate whether the effectiveness of the overall business management is also part of the efficient management of operations and earnings being with respect to the empirical data would be analyzed using the. This means that with the specific purpose of the characteristics of a technology-intensive company focusing on information security proportion of outside directors and outside directors of the board of directors of the board of directors of the target attendance rate for identifying the relationship between earnings management purposes. The empirical results is the ratio of outside directors and the relationship between discretionary accruals as a temporary negative (-) boyimyeo significant relationship, so was adopted. is discretionary accruals and attendance of outside directors, as is the hypothesis that the regression coefficient negative (-) shows the relationship between the mind, so was adopted.

• The Journal of the Korea Contents Association
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• v.20 no.1
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• pp.460-469
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• 2020

Recently, the Supreme Court pointed out that it would be difficult to maintain the existing opinion any more because the overall conditions that were the basis of the past empirical rule were remarkably changed when estimating the lost earnings of a deceased minor. Thus, the court sentenced en banc decision to extend the maximum working age of manual laborers under the empirical rule to 65 years old. The significance of this ruling is to put an end to social confusion caused by courts' different sentences on the maximum working age under the empirical rule depending on lower court decision, and also to acknowledge the maximum working age of physical laborers by applying the new empirical rule in accordance with entering the aged society. It is still unfortunate to conclude the maximum working age as a specific age and also to estimate the lost earnings of a victim by applying the daily wages of urban laborers. Like this, this study aimed to provide the basic data for guaranteeing a proper compensation for damage to victims by analyzing the issues of rulings related to the maximum working age of manual laborers under the empirical rule, and then complementing imperfections in Korean society that has entered the aged society.

• Management & Information Systems Review
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• v.32 no.1
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• pp.63-85
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• 2013

This study tries to investigate the fundamental implications inherent in inventory asset information(specifically, unexpected inventory investment) by analyzing how the relationship between unexpected inventory investment and future operating performance. And we study how is the response of the stock market participants to the fundamental implications inherent in inventory asset information. Prior papers often assume the efficient market and they view the significant relation between stock prices and financial indicators as evidence of the contribution of such indicators to future earnings. Leading indicators are attracting the market's attention for equity valuation. We study whether one leading indicator (unexpected Inventories) forecasts future earnings, and whether market participants fully reflect the predictive ability when they sets share prices(Mishkin test, 1983). Our empirical results of the study are summarized as follows. Current unexpected inventory investment is negatively associated with future operating performance. Also, our evidence is that the stock market participants overprice the contribution of unexpected inventory investment when predicting future earnings. Furthermore, a hedge strategy that uses the overpricing gives significant future abnormal returns. The overall results help the users of financial reports, researchers of accounting, and the accounting principle setting body.

• Korean small business review
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• v.41 no.1
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• pp.29-51
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• 2019

This study investigates how SMEs' (small and medium-sized enterprises) financing strategies affect firm valuation. Given that information asymmetry is engaged in firm valuation in the stock market, investors interpret the meanings of debt financing depending on how SMEs construct the portfolio of financing strategies (retained earnings vs debt financing), thereby making investment decision. Specifically, given that SMEs' debt financing has two meanings in the market signals, called "benefit" and "cost", this study postulates that firm valuation will be differently made by investors, depending on how they interpret the meanings of debt financing under choice competition between retained earnings and debt financing. In this study, we argue that under choice competition, as a SME's debt proportion increases, the "cost" signal outweighes the "benefit" signal, thereby decreasing firm valuation. Moreover, the effect of such signal can be contingent on the SME's characteristics-firm visibility. These ideas are examined using 363 U.S. SMEs ranging from 1971 to 2010. The fixed-effects models estimating Tobin's q show that under choice competition, a SME's debt proportion has a negative impact on firm valuation and that the firm's high visibility mitigates the effect of "cost" signal. In conclusion, this study sheds new light on how investors' interpretations of SMEs' financing strategies affect firm valuation.

• 한국신재생에너지학회:학술대회논문집
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• 2010.11a
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• pp.102.2-102.2
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• 2010

We are to evaluate the stabilization technology of actual biogas plant facilities, which is operating currently. It describes the traits of the consistent facilities of mesophilic anaerobic digestion using Unison Biogas plant Recovery system(UBR). Also the economical efficiency is examined with the electric power sales earnings and applying the deserted heating by generating electric power, which is generated by operated combined heat and power using biogas produced by mesophilic anaerobic digestion. We have generated the 481,113kw for electric power and 1,376Gcal for thermal energy simultaneously. If these electric power and thermal energy are converted into diesel, we can achieve savings equal to 114,300L, and 152,109L in the quantity of heat. Finally, if CDM, RPS, liquid fertilizer sales business, etc. is activated, the earnings will be expected to improve dramatically and is considered to contribute a drop of the greenhouse gas.

• The Korean Journal of Applied Statistics
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• v.22 no.4
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• pp.805-817
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• 2009

Interest about the effect of military service is increasing because of the renewal of military service incentive system in Korea. In the background, men has been experienced which suffer monetary and non-monetary damages through the compulsory military service in Korea. However there are few studies that analyze the labor market effect of military service. This study takes advantage of male worker's data of 10th KLIPS(Korea Labor & Income Panel Survey) in 2007 and analyze the wage effect of military service. According to empirical result using Mincerian earnings function, the positive effect of military service appeared. These result shows men who finished military duty have an monetary advantage in Korean labor market unlike general perceptions on military service.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.1
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• pp.29-36
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• 2020

Stock price multiple is one of the most well-known equity valuation technique used to forecast equity price. It measures by multiplying "the ratio of stock price to a value driver" by a value driver. The value driver can be earning per share (EPS), sales or other financial measurements. The objective of price multiple technique is to evaluate the value of assets and compare how similar assets are priced in the market. Although stock price multiple technique is common in financial filed, studies on the application of the technique in Thailand is still limited. The present study is conducted to serve three major objectives. The first objective is to apply the technique to measure value of firms in banking sector in the Stock Exchange of Thailand. The second objective is to develop composite price multiple index to forecast equity prices. The third objective is to compare valuation accuracy of different value drivers of price multiple (i.e. EPS, Earnings Growth, Earnings Before Interest Taxes Depreciation and Amortization, Sales, Book Value and Composite Index) in forecasting equity prices. Results indicated that EPS is the most accurate value drivers of price multiple used to forecast equity price of firms in baking sector.

• Journal of Labour Economics
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• v.35 no.2
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• pp.79-115
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• 2012

In the study, we try to get reliable estimates of intergenerational income mobility in Korea. At first, we show that the low estimates of previous studies are mainly due to sample selection problem. The direct estimations using OLS after correcting this problem show higher values than previous estimates. We also compute the attenuation bias by decomposing the variances of earnings into the variances of permanent and transitory components of earnings by the results of the regression. Additionally, we try to estimate the range of intergenerational mobility by comparing the OLS results with the results of the two samples instrumental variable estimation and the three samples instrumental variable estimation. The results of these estimations are a little higher than or similar to OLS results.

• The Journal of Information Technology
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• v.4 no.3
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• pp.19-34
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• 2001

The purpose of this study is to examine the differential influences of cash dividends and stock dividends on the firm valuation. Cash dividends are firm's cash outflows but stock dividends are not. If individual investors recognize that dividend revenues are taxed. they will value paid-in capital and retained earnings differently. The results from testing the hypotheses indicate that individual investors value cash dividends after dividend taxes but do not value stock dividends after dividend taxes. This suggests that non-taxing of capital gains provides tax shelters to individual investors and investors prefer retained earnings to be converted as paid-in capital rather than 0 be paid as cash dividends.

• Journal of Fisheries and Marine Sciences Education
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• v.15 no.2
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• pp.166-175
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• 2003

In order to offer fundamental data for the standard of comfilation of the budget on the compensation money for the reduction of fishing baot and index of investigation for computation on the average earnings of reduction of fishing boat, the fluctuation of actual outputs, expenses, earnings and the difference by type of coastal and off-shore fishery was investigated and analyzed. The results are as follows : 1. The average ouput money by large powered purse seine fishery was much with about 3,510 million won, but the average output money by off-shore gill nets fishery was little with about 8.4 million won. 2. The average catch by large powered purse seine fishery was many with about 296,000 M/T, but the average catch by eastern sea danish seine fishery was few with 4,600 M/T. 3. The average expense by large powered purse seine fishery was much with about 3,360 million won, but the average expense by diving fishery was little with 6.3 million won. 4. The average earning by large powered purse seine fishery was much with about 240million won, the average earning by offshore long line fishery was little with 18 million won. 5. The average earning rate by diving fishery was much with 31.62%, but the average earning rate by large powered purse seine fishery was little with 7.30%.