• Journal of Digital Convergence
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• v.11 no.3
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• pp.59-71
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• 2013

Cloud service (Amazon Web Services, etc.) to take advantage of the growing global competitiveness of small and medium companies with online services (eg Zynga, paprika wrap) are strenthening the growing global competitiveness by taking advantage of cloud utilization, and financial market analysis services by cloud use have appeared, but the domestic company's cloud still staying in the low-level. SMEs in Korea IT infrastructure needs as well as commercial services such as simulation, test environment configuration, to perform tasks that require a step-by-step in the product development process, which requires different IT Infrastructure Outsourcing workforce commitment, according to the rapid changes in the size of the organization's efficient IT infrastructure such as cloud services because of the lack of capacity to respond to a sudden demand for IT measures required.

• Journal of the Korean Society of Food Culture
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• v.34 no.4
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• pp.401-410
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• 2019

This study investigated the influence of the quality of a business management consulting service and the mediating effect of utilizing a business management consulting service. For this purpose, data was collected from 200 self-employed workers of the Moonchang market in Dasejun, the Yongdap market in Seoul and the Jatgeoeul market in Gapyeong. The result of the study are as follows. First, it was found that the quality of interaction, the quality of the result and the quality of the physical environment have significant influences over peoples' financial aptitude. Second, it was found that the quality of the interaction, the quality of the result and the quality of the physical environment have significant influences over peoples' non-financial aptitudes. Thirds, the evaluation of a mediating effect of utilization of a business management consulting service on the relationship between the quality of a business management consulting service and business performance showed that it has a significant influence in all ways and so this, proved its mediating effect. Therefor, as one of the means to activate traditional markets in Korea, it would be beneficial to actively introduce a business management consulting service and this would achieve a better performance through efforts to change the perception of employees and consultants about post-management of business management consulting services.

• Asia Marketing Journal
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• v.15 no.4
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• pp.223-241
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• 2014

In May 2012, the collaboration of Hana Bank, top financial service company, and SK Planet, top telecommunication service provider, introduced a new credit card that was filled with all-in-one benefits into the market. Leveraging strong infrastructure of two companies, each top in its own industries, the awareness and preference of 'Club SK Card' brand rapidly increased to about 25% in less than one year. Moreover, this new card was enthroned in the most sold credit card of year 2012, accounting for a market share of 7.2% in the credit card market and more than 80% in the mobile credit card market. To make these results possible, 'Club SK Card' marketing team developed an effective marketing communication strategy which followed the 6M model. The mission of the marketing communication strategy was simple and clear. It was to deliver the card's inherent strengths on consumer benefits that come from the support of subsidiary and affiliated companies of SK Planet. According to OK Cashbag data, the marketing communication team selected the appropriate target consumers and approached them directly, inducing actual purchase behavior. The target consumers received straightforward messages about 'Club SK Card' and were led to join in the new membership at their most frequently visited supermarket or franchise restaurant. The straightforward communication message embedded in an eye-catching commercial ad with a hook song accompanied with a dance was delivered via public media. The ad became so popular that many other television programs quoted or made parodies of the ad. Courtesy of the commercial ad, the brand name disseminated rapidly and widely among the public. In October 2012, an ingenious planning and persistent implementation of the communication strategy results 'Club SK Card' to be ranked top in brand awareness as well as advertising preference tests.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.23 no.1
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• pp.171-176
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• 2023

The purpose of this study is to analyze the introduction and use cases of Metaverse in the financial sector to learn lessons and implications. Let's take a look. The era of the metaverse is coming. The financial sector is pioneering the blue ocean market in a new era and working with the MZ generation. In order to expand contact points, we are very interested in the new business model, Metaverse, and are actively engaged in research and development. appear to be participating. In the case of finance, information is efficiently transmitted through metaverse, and customers It is predicted that the convenience of customers will be greatly improved by making it possible to use convenient services without visiting a branch. Additionally, by utilizing technologies such as AR and VR, we are trying to provide services linked to the metaverse in earnest. In addition, new financial services such as non-face-to-face asset management consulting services and brokerage services for funds through Metaverse Business models are also expected to be created. It is still in its infancy, and it is currently in its infancy, Metaverse is being used for educational purposes.

• Korean small business review
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• v.31 no.4
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• pp.67-93
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• 2009

The purpose of this paper is to explore the relations between financial constraints and dividend smoothing of innovative small and medium sized enterprises(SMEs) listed on Korea Securities Market and Kosdaq Market of Korea Exchange. The innovative SMEs is defined as the firms with high level of R&D intensity which is measured by (R&D investment/total sales) ratio, according to Chauvin and Hirschey (1993). The R&D investment plays an important role as the innovative driver that can increase the future growth opportunity and profitability of the firms. Therefore, the R&D investment have large, positive, and consistent influences on the market value of the firm. In this point of view, we expect that the innovative SMEs can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. And also, we expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Aivazian et al.(2006) exert that the financial unconstrained firms with the high accessibility to capital market can adjust dividend payment faster than the financial constrained firms. We collect the sample firms among the total SMEs listed on Korea Securities Market and Kosdaq Market of Korea Exchange during the periods from January 1999 to December 2007 from the KIS Value Library database. The total number of firm-year observations of the total sample firms throughout the entire period is 5,544, the number of firm-year observations of the dividend firms is 2,919, and the number of firm-year observations of the non-dividend firms is 2,625. About 53%(or 2,919) of these total 5,544 observations involve firms that make a dividend payment. The dividend firms are divided into two groups according to the R&D intensity, such as the innovative SMEs with larger than median of R&D intensity and the noninnovative SMEs with smaller than median of R&D intensity. The number of firm-year observations of the innovative SMEs is 1,506, and the number of firm-year observations of the noninnovative SMEs is 1,413. Furthermore, the innovative SMEs are divided into two groups according to level of financial constraints, such as the financial unconstrained firms and the financial constrained firms. The number of firm-year observations of the former is 894, and the number of firm-year observations of the latter is 612. Although all available firm-year observations of the dividend firms are collected, deletions are made in the case of financial industries such as banks, securities company, insurance company, and other financial services company, because their capital structure and business style are widely different from the general manufacturing firms. The stock repurchase was involved in dividend payment because Grullon and Michaely (2002) examined the substitution hypothesis between dividends and stock repurchases. However, our data structure is an unbalanced panel data since there is no requirement that the firm-year observations data are all available for each firms during the entire periods from January 1999 to December 2007 from the KIS Value Library database. We firstly estimate the classic Lintner(1956) dividend adjustment model, where the decision to smooth dividend or to adopt a residual dividend policy depends on financial constraints measured by market accessibility. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between current payout rato and target payout ratio each year. In the Lintner model, dependent variable is the current dividend per share(DPS_t), and independent variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t). We hypothesized that firms adjust partially the gap between the current dividend per share(DPS_t) and the target payout ratio(Ω) each year, when the past dividend per share(DPS_t-1) deviate from the target payout ratio(Ω). We secondly estimate the expansion model that extend the Lintner model by including the determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory. In the expansion model, dependent variable is the current dividend per share(DPS_t), explanatory variables are the past dividend per share(DPS_t-1) and the current earnings per share(EPS_t), and control variables are the current capital expenditure ratio(CEA_t), the current leverage ratio(LEV_t), the current operating return on assets(ROA_t), the current business risk(RISK_t), the current trading volume turnover ratio(TURN_t), and the current dividend premium(DPREM_t). In these control variables, CEA_t, LEV_t, and ROA_t are the determinants suggested by the residual dividend theory and the agency theory, ROA_t and RISK_t are the determinants suggested by the dividend signaling theory, TURN_t is the determinant suggested by the transactions cost theory, and DPREM_t is the determinant suggested by the catering theory. Furthermore, we thirdly estimate the Lintner model and the expansion model by using the panel data of the financial unconstrained firms and the financial constrained firms, that are divided into two groups according to level of financial constraints. We expect that the financial unconstrained firms can adjust dividend payment faster than the financial constrained firms, because the former can finance more easily the investment funds through the market accessibility than the latter. We analyzed descriptive statistics such as mean, standard deviation, and median to delete the outliers from the panel data, conducted one way analysis of variance to check up the industry-specfic effects, and conducted difference test of firms characteristic variables between innovative SMEs and noninnovative SMEs as well as difference test of firms characteristic variables between financial unconstrained firms and financial constrained firms. We also conducted the correlation analysis and the variance inflation factors analysis to detect any multicollinearity among the independent variables. Both of the correlation coefficients and the variance inflation factors are roughly low to the extent that may be ignored the multicollinearity among the independent variables. Furthermore, we estimate both of the Lintner model and the expansion model using the panel regression analysis. We firstly test the time-specific effects and the firm-specific effects may be involved in our panel data through the Lagrange multiplier test that was proposed by Breusch and Pagan(1980), and secondly conduct Hausman test to prove that fixed effect model is fitter with our panel data than the random effect model. The main results of this study can be summarized as follows. The determinants suggested by the major theories of dividend, namely, residual dividend theory, dividend signaling theory, agency theory, catering theory, and transactions cost theory explain significantly the dividend policy of the innovative SMEs. Lintner model indicates that firms maintain stable and long run target payout ratio, and that firms adjust partially the gap between the current payout ratio and the target payout ratio each year. In the core variables of Lintner model, the past dividend per share has more effects to dividend smoothing than the current earnings per share. These results suggest that the innovative SMEs maintain stable and long run dividend policy which sustains the past dividend per share level without corporate special reasons. The main results show that dividend adjustment speed of the innovative SMEs is faster than that of the noninnovative SMEs. This means that the innovative SMEs with high level of R&D intensity can adjust dividend payment faster than the noninnovative SMEs, on the ground of their future growth opportunity and profitability. The other main results show that dividend adjustment speed of the financial unconstrained SMEs is faster than that of the financial constrained SMEs. This means that the financial unconstrained firms with high accessibility to capital market can adjust dividend payment faster than the financial constrained firms, on the ground of their financing ability of investment funds through the market accessibility. Futhermore, the other additional results show that dividend adjustment speed of the innovative SMEs classified by the Small and Medium Business Administration is faster than that of the unclassified SMEs. They are linked with various financial policies and services such as credit guaranteed service, policy fund for SMEs, venture investment fund, insurance program, and so on. In conclusion, the past dividend per share and the current earnings per share suggested by the Lintner model explain mainly dividend adjustment speed of the innovative SMEs, and also the financial constraints explain partially. Therefore, if managers can properly understand of the relations between financial constraints and dividend smoothing of innovative SMEs, they can maintain stable and long run dividend policy of the innovative SMEs through dividend smoothing. These are encouraging results for Korea government, that is, the Small and Medium Business Administration as it has implemented many policies to commit to the innovative SMEs. This paper may have a few limitations because it may be only early study about the relations between financial constraints and dividend smoothing of the innovative SMEs. Specifically, this paper may not adequately capture all of the subtle features of the innovative SMEs and the financial unconstrained SMEs. Therefore, we think that it is necessary to expand sample firms and control variables, and use more elaborate analysis methods in the future studies.

• Management & Information Systems Review
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• v.31 no.1
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• pp.221-246
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• 2012

The study examines the effects that non-audit service and firm's ownership structure might have on the value relevance directly or indirectly. This investigation is based on prior research which suggests that the audit firms' non-audit services is likely to adversely affect investors' perceptions of the credibility of financial reporting and that corporate governance are likely to mitigate the adverse this kind of non-audit services effects. The sample consists of non-banking firms listed on the Korea Exchange that reported annual financial statements over the period from 2004 to 2008. In the setting, stock returns as proxy for capital market response, auditor quality(measured as the discretionary accruals) is endogenously determined. This study employs a structural equation model to take into account the endogenous variables under study. The analysis influences through the path analysis that ownership structure suppress the market response through audit quality and also the non-audit service have influence on the market response through audit quality. The results of this study contribute to the literature in the following ways. First, this provides direct evidence that there is a negative association between audit firms' client importance and the value relevance. Second, the findings that the negative association is attenuated for audit quality support the findings of prior studies which present that corporate governance provide higher credibility of financial reports.

• Journal of Distribution Science
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• v.13 no.2
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• pp.25-33
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• 2015

Purpose - This study aims to disclose the problems of both the government and the logistics industry regarding fourth-party logistics, and to provide various solutions at the level of enterprises as well as the government for the introduction of fourth-party logistics in China. Research design, data, and methodology - This study aims to reveal how a shipping company recognizes the creation of partnerships with fourth-party logistics providers, and it reveals several related implications. Results - Fourth-party logistics organizations can be used to achieve maximum business performance as professional logistics companies by incorporating the benefits of outsourcing and insourcing. Outsourcing logistics services through focusing on core competencies and improving customer service can have financial effects and advantages such as the simplification of labor issues. Conclusions - This study did not investigate Korean enterprises through an empirical analysis and provided fourth-party logistics concepts and promotional plans according to domestic and foreign literature. Further studies shall investigate not only the Korean fourth-party logistics model but also the training of logistics professionals to generate profits for both shippers as well as logistics enterprises.

• The Journal of Industrial Distribution & Business
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• v.11 no.4
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• pp.31-38
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• 2020

Purpose: At a time when the distribution industry is dominated by capital and technology, win-win growth among businesses groups (BGs) in wholesale market is becoming a social issue. Therefore, through analysis of market growth, market concentration (MC) and market power (MP), we want to identify the structure of the wholesale market and the competitiveness of the BGs in terms of market share (MS), sales-profit ratio (SPR), and labor productivity (LP) to explore the possibility of win-win growth. Market situation: Wholesale and Retail sales ratio (W/S) continues to increase, which also means inefficiency in distribution channels or opportunities in wholesale markets. Wholesale sales have grown 8.3 percent annually over the past 15 years, while the number of companies and workers has declined since 2017, which is why some restructuring is believed to begin in the wholesale industry. In terms of MC and MP, the growth potential of SBG can be found in FCB, ARM, FBT and CME BTs. Methodology and data: Through ANOVA and Regression Analysis, the 2015 Economic Census Data of KOSTAT was analyzed. Results: The results of ANOVA show that statistically significant SBG has a larger MS than LBG. The SPR was not different among BGs. LP is higher for LBG than for other BGs. Regression results show that the employment weight (EW) and the company size (SC) have positive effects on the MS, but the company weight (CW) and employment size (SE) have negative effects. In the case of SPR, the CW is positive and the EW is negative. In addition, LP appears to be more positive as SC in the BGs is larger. Conclusions: Although there is sufficient potential for SBG in the wholesale market, there is a problem that needs to increase LP. Therefore, the SBG needs to restructure in terms of number of companies and SC to improve the efficiency of employment. In terms of MC and MP, the SBG looks for possibilities in FCB, ARM, FBT and CME BTs. In addition, SBG that seeks higher returns with human services rather than simple sales is found to be competitive in the HHG, MES and CME BTs.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.337-344
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• 2020

Stability and sustainability of the biggest banks in any country are extremely important. When big banks become unstable and vulnerable, they typically stop lending. The resulting credit squeeze pushes the economy into recession or a slow growth path. The present study examines the financial stability and sustainability of the 30 large banks operating in the six Gulf Cooperation Council countries. These banks represent 70% of the GCC banking market. Monte Carlo simulation was attempted assuming that key drivers can vary randomly by twenty percent on either side of the current values. The conclusions are drawn based on 300 simulation trails of the five-year forecast balance and income statement of each bank. Year 2020 is not favorable for the GCC countries because of the COVID-19 pandemic and low oil prices, though the future years may be better. The study identifies several banks, which may become financially unsustainable because the simulations indicate the possibility of negative profitability, unacceptably low capital ratios and potential for heavy credit losses during periods of economic turbulence, which is the current situation due to the COVID-19 pandemic. Through simulation the paper is able to throw light on which factors lead to bank instability and weakness.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2014.10a
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• pp.359-362
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• 2014

With recent growing of application service, servers are required to sustain great amount of data and to handle them quickly: besides, data must be processed securely. The main security algorithm used in security services of server is AES(Advanced Encryption Standard - 2001 published by NIST), which is widely accepted in the world market for superiority of performance. In Korea, NSRI(National Security Research Institute) has developed ARIA(Academy, Research Institute, Agency) algorithm in 2004 and LEA(Lightweight Encryption Algorithm) algorithm in 2012. In this paper, we show advantage of LEA by comparing performance with AES and ARIA in various servers.