• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.4
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• pp.1-34
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• 2010

Recently, failure rates of Kosdaq IPO firms are increasing and their survival rates tend to be very low, and when these firms do fail, often times backed by a number of governmental financial supports, they may inflict severe financial damage to investors, let alone economy as a whole. To ensure investors' confidence in Kosdaq and foster promising and healthy businesses, it is necessary to precisely assess their intrinsic values and survivability. This study investigates what contributed to the failure of IPO firms and analyzed how these elements are factored into corresponding firms' stock returns. Failure risks are assessed at the time of IPO. This paper considers factors reflecting IPO characteristics, a firm's underwriter prestige, auditor's quality, IPO offer price, firm's age, and IPO proceeds. The study further went on to examine how, if at all, these failure risks involved during IPO led to post-IPO stock prices. Sample firms used in this study include 98 Kosdaq firms that have failed and 569 healthy firms that are classified into the same business categories, and Logit models are used in estimate the probability of failure. Empirical results indicate that auditor's quality, IPO offer price, firm's age, and IPO proceeds shown significant relevance to failure risks at the time of IPO. Of other variables, firm's size and ROA, previously deemed significantly related to failure risks, in fact do not show significant relevance to those risks, whereas financial leverage does. This illustrates the efficacy of a model that appropriately reflects the attributes of IPO firms. Also, even though R&D expenditures were believed to be value relevant by previous studies, this study reveals that R&D is not a significant factor related to failure risks. In examing the relation between failure risks and stock prices, this study finds that failure risks are negatively related to 1 or 2 year size-adjusted abnormal returns after IPO. The results of this study may provide useful knowledge for government regulatory officials in contemplating pertinent policy and for credit analysts in their proper evaluation of a firm's credit standing.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.5
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• pp.101-115
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• 2017

This study analyzed the effects of social support on entrepreneurial opportunity competence for Baby boomer (born in 1955-1963), focusing on mediating effect of entrepreneurial self-efficacy. The governmental start-up policy and entrepreneurship education are mostly conducted for the college students and young generation mainly through such programs as the youth start-up school. In addition, studies on the effects of social support and institutional support on the entrepreneurial intention of young generation entrepreneurs are being actively pursued. Meanwhile, the study for baby boomers is on the welfare side mainly. Although they are starting to make their living-based business without prior careful preparation for their livelihood after retirement, while there is little study on the effect of social support for this baby boomer on entrepreneurial opportunity competence needed for opportunistic entrepreneurship. Therefore, in this study, in order to investigate the effect of social support on Baby boomer's entrepreneurial opportunity competence, an empirical analysis of the 387 questionnaires collected by the baby boomers living in Seoul and Gyeonggi provinces were conducted. As a result of analysis, First, Social support has a significant effect on both Opportunity recognition and Opportunity assessment of entrepreneurial opportunity competence. Second, In the effects of social support on self-efficacy were found to be significant in Emotional and Instrument support only on Self-confidence, In Emotional support and Feedback support only on Self-regulated efficacy & Emotional support and Instrument support only on Goal challenge were found to be a significant effect. Third, Self-regulated efficacy and Goal challenge in the Entrepreneurial self-efficacy on Entrepreneurial opportunity recognition were found to be a significant effect. All Self-confidence, Self-regulated efficacy & Goal challenge in the Entrepreneurial self-efficacy on Entrepreneurial opportunity assessment were found to be a significant effect. Fourth, Indirect effect of social support on entrepreneurial opportunity competence mediated by Entrepreneurial self-efficacy was found to be partially significant.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.607-641
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• 2017

Recently, there has been an increase in government-wide demand for technological cooperation between government funded research institutes (GFRIs) and small and medium-sized enterprises (SMEs), while there remain a tension between positive and negative views regarding the support given by GFRIs to encourage the technological innovation of SMEs. Although preceding studies have found that the support given by GFRIs to SMEs tends to have the effect of enhancing the technological innovation outcomes of SMEs, this study examines the question of why the agent that provides technological cooperation to SMEs should be limited to GFRIs. To answer this question, in this study, we first examined the qualitative changes in the external technological cooperation behavior of SMEs over time, from 2007 to 2014. Next, we performed cluster analysis to examine whether there were distinctive characteristics of SMEs that engage in technological cooperation with GFRIs, compared to the various other alternatives available as technological cooperation partners for SMEs. Lastly, to help us identify the characteristics of the companies that technologically cooperate with GFRIs and to facilitate the administrative or practical effort to find companies that would be strong candidates for technological cooperation with GFRIs, we used discriminant analysis to define a discriminant formula for such companies likely to engage in technological cooperation. The results of this study were as follows. First, GFRIs were the most competitive -- as demonstrated by the highest level of satisfaction, etc. - compared to the other alternatives for external technological cooperation available to SMEs. This confirmed the necessity for GFRIs to provide technological cooperation to SMEs. Secondly, the issue of whether the small and medium-sized enterprise had engaged in technological cooperation specifically with GFRIs was found not to be a very significant factor in distinguishing these companies. It was found, however, that SMEs engaged in technological cooperation were distinctive, regardless of the type of institution involved in the technological cooperation. Thirdly, SMEs that were in technological cooperation with GFRIs had the characteristics of being already active in joint research and already familiar with utilizing the systems available for governmental support. The findings of this study offers various insights relevant to establishing national R&D strategies using GFRIs and improving the efficiency of policies and administrative practices intended to help GFRIs assist SMEs.

• The Journal of Industrial Distribution & Business
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• v.1 no.1
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• pp.13-21
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• 2010

Since Korea establish diplomatic ties with China in 1992, korea and China have had rapid progress in most of field as politic, economy, society and culture through basing on cultural commonality and geographical adjacency. Especially, China is the biggest trading partner to korea, and also Korea is third-biggest trading country to China. They become strategic cooperating relation in 2008. Currently, in terms of international trade relation, WTO/DDA negotiation is proceeding in difficulty, but FTA has been growing and extending in the world, and the two country, china and korea, have been competitively trying wide and active FTA negotiation promotion. After Financial crisis in 1997, according to the requirement of local economic cooperation, China has shown the interest to several countries since the conclusion of FTA treaty with ASEAN in 2005. China also makes the active afford to conclude FTA with Korea. Last May 28th, this was mentioned in the meeting between president Lee and Premier Wen Jiabao, so it is anticipated that the negotiation for FTA will be started in the near future. There are many political suggestions and concerns in terms of way of negotiation korea would choose. Some economist said that "'Continuous FTA aimed at long-term protocol should be promoted between korea and China and negotiated includingly'" However, this research claims that commodity exchange, service, and investment areas should be included and it has to be comprehensive package settlement style in negotiation. This research has found out the characteristics of China's negotiation and implications through the China's existed FTA negotiation examples. Currently, China has taken Continuous or a phase-negotiation method to ASEAN, Pakistan, Chile and some other developing country and to advanced countries like New Zealand or Singapore, comprehensive package settlement method is used in FTA negotiation. In consider of the FTA negotiation between Korea and China, Korea has some problems in the commodity change area in agriculture maket's opening. While, for china, the issues would happen in service trade area, especially when encountering finance and communication industries are opened, China's economy could be exposed to some risk. In result, Korea should expand its negotiation range from commodity trade to service trade, in order to exchange both issues, then the negotiation will be concluded more easily. In other word, for FTA, korea should follow comprehensive package settlement way that is similar to New zealand and Singapore case. Through this kind of method, Korea can expect effect of creating trade, conversion of it and preoccupancy of service field in china's market against the advanced countries like Usa, Europe and Japan. Also, to have a successful FTA negotiation, korea should find out china's policy for FTA negotiation. With this information, korea will be able to suggest the way to make a profit. Systematic analysis and comparison about previous negotiation cases of china are needed before the negotiation begin.

• Korean Security Journal
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• no.22
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• pp.197-230
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• 2010

This study examined the institutional improvement directions of industrial security programs, particularly focusing upon policies and practices in the U.S., to enhance the effectiveness of industrial security programs in Korea. This study also aimed to investigate the significance of institutional and/or policy implementations in preventing economic espionage attempt. Data leakage and/or loss of trade secrets in corporations has been a scary proposition and a serious headache to both the CEOs and the CSOs(Chief Security Officers). Security professionals or practitioners have always had to deal with data leakage issues that arise from e-mail, instant messaging(IM), and other Internet communication channels. In addition, with the proliferation of wireless and mobile technology, it's now much easier than ever for loss by data breaches to occur, whether accidentally or maliciously or even by an economic espionage attempt. The researcher in this study used both a case study and a comparative research to analyze the different strategies and approaches between the U.S. and Korea in regard of implementing policies to mitigate damages by economic espionage attempts and prevent them from occurring. The researcher first examined the current policies and practices in the U.S. in terms of federal government's and agencies' approach and strategies on industrial security programs and their partnerships with private-commercial-sectors. The purpose of this paper is to explain and suggest selected findings, and a discussion of actions to be taken on implementing a proactive and tactical approach to enhance the effectiveness of industrial security programs to fight against information loss or data leaks. This study used case reviews, literatures, newspapers, articles, and Internet resources relating to the subject of this study for triangulation of data. The findings during this research are as follows. This research suggests that both the private and the governmental sector should closely cooperate in the filed of industrial security to strengthen its traditional prevention strategies and reduce opportunities of economic espionage as well. This study finally recognizes both the very importance of institutional development led by the Government in preventing economic espionage attempts and its effectiveness when properly united with effective industrial security programs.

• Korean journal of communication and information
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• v.46
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• pp.511-555
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• 2009

Media-related regulations can be classified into two categories; regulations of individual media contents and regulations regarding the entry to and withdrawal from a certain field. In this dissertation, ownership regulations are regarded as legal and political measures so as to prevent the monopoly and oligopoly of public opinion, and to secure its diversity. Every country has its own regulation model according to its particular media environment. Korea too is obliged to actively respond to its environmental changes, at the same time vitalizing the media industry and protecting consumers' rights and interests. Strong political intentions to protect the public interest is necessary when it comes to media regulation policies, especially in the circumstances that public interest is an industrial priority. As the convergence of broadcasting and telecommunications is leading to a major shift in the media industry, the regulation of cross-media ownership is an issue involving potential conflicts among media-owners, non-governmental organizations and the authorities concerned, depending on their various viewpoints regarding the media industry. In this paper, an attempt was made to search necessity of redefining 'public interest', which is the logic behind the restriction of cross-media ownership, and to reconceptualize issues on the centralization and diversity of media. First, an examination of the actual conditions of newspaper companies was carried out in order to reinvestigate domestic cross-media ownership issues, which is represented by the cross-ownership issue of newspapers and broadcasting stations. Next, the dilemma of policies stimulated by the fusion of media was discussed based on cross-media ownership restrictions, and the need for efficient conflict control was suggested. Finally, proposals on the independency and public confidence of media-related policy-making authorities, the rationalization of regulation models, an itemized discussion on cross-media ownership regulation issues, the elaboration of measures for a balanced development among media were made. It could be found that a number of foreign countries were still facing challenges to prevent monopoly and oligopoly of the public opinion and the industry. A solution to settle disagreements about the dilemma of the media industry, including the cross-media ownership regulation issues, must be arranged on the grounds of 'mutual respect of public interest and industrial interest', In Korea, an ease on the ownership regulations adapting to the change in the media industry may be considered, however the softening of the cross-media ownership regulations must be approached with the utmost care. Paradoxically Relieving cross-media ownership regulations may be considered the foundation of a richer field of journalism, where there is no need for concern over the monopoly and oligopoly of public opinion.

• Korea journal of population studies
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• v.4 no.1
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• pp.105-130
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• 1981

This study was conducted to compare the characteristics of high performane areas for family planning with that of low performance areas and to find factors which strongly affected contraceptive practice behavior. For the study, eight areas were selected from 274 rural family planning canvassing areas of Korean Population Policy and Program Evaluation Study, which was an action study operated in all areas of Cheju Island from July 1, 1976 until December 31,1979. As a first step of the action study, Cheju Island was devided up 318 family planning canvasser areas Each area was consisted of 200 households in rural district and 300 households in urhan one Duriog the period of project, each canvassing area had been managed by a female family planning canvasser, selected by director of health center considering several individual conditions needed for family planning activities Basic activities of canvassers were to counsell all the eligihie couples in own charged area about family planning methods and also to distribute contraceptives such as condoms and oral pills. In case couples desire to accept sterilization including vasectomy and tubal-ligation, the canvassers played a linking role connecting potential client with family planning field workers. Canvassng areas shows significant differentce in performance for family planning, nevertheless they are supposed to have almost the same conditions regarding family planning distribution channel. Because the purpose of the Cheju project was to eliminate all the problems that existed in governmental distribution system, that is to remove geographic, economic, cognitive and administrative barriers Accumulated performances of family planning methods accepted by residents in each area were calculated by eligible women aged 14-49. And then canvassing areas were ranked according to performance score. Consequently, 4 areas in extremely high and low family planning performance areas were selected respectively. Major results were obtained by comparing characteristics of high performance area with that of low performance areas, which are as follows: 1. The mean number of living children was about the same both in high and low performance areas for family planning. But respondents' mean age (38.5) in high performance areas was higher than that (37.0) in low performance areas 2. Respondents' perception in the expectant educational level of others' children in high performance areas was higher than that in low performance areas, although respondents educational level, monthly expenditure and ratio of children in high school and above was not different. 3. Ratio of ownerships of TV and newspaper in high performance areas was highen than that in low performance areas 4. The duration of canvasser' charge in high performance areas was longer than that of low performance areas, showing the fact that canvassers didn't move cut in high performance areas 5. In high performance areas, canvassers' houses were relatively located in the center part of the village. And so villagers resided in near distances from the anvasser's house 6. 4H clubs' activities in high performance areas were more active than those in low performance areas Therefore it was assumed that cohesiveness of community in high performance areas were stronger than that in low areas. 7. Canvassers' family planning practice rate was higher than that in low performance areas, and also canvassers' human relationship was more sociable than that of canvassers in low performance areas. 8. Fourteen variables which showed relatively high significance level in $X^2$ and F test were selected as independent variables for stepwise regression analysis. According to the results of regression analysis. five of 14 variables-distributors education level ($R^2$=.4439), duration of distributor's charge ($R^2$=.6166), 4H club activities ($R^2$=.6697), canvasser's contraceptive practice ($R^2$=.7377) and location of distributions house ($R^2$=.8010) explained 80.1 percent of total variance.

• Pediatric Infection and Vaccine
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• v.18 no.2
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• pp.124-134
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• 2011

Purpose : We have tried to search all concerning data on the policies of hepatitis B vaccination or surveillance of medical equipments that can transmit blood mediated diseases, including disposable syringe, in Republic of Korea, to propose references to other medical professionals. Methods : Data from domestic journals, government websites, computerized newspapers, etc. were reviewed. The data were arranged into four categories (governmental policies on hepatitis B control, hepatitis B mass immunization program in school, using process of hepatitis B vaccine, and policies on medical equipments surveillance, including disposable syringes, which is considered as source of blood mediated infection), and the periodic changes on each subjects in policies were reviewed. Results : Due to growing social concerns on hepatitis B in early 1980s, swift introduction and production of hepatitis B vaccine was made. After establishment of "5 year project for eradication of hepatitis B" in late 1983, number of vaccinated population jumped up to 6 million within 2 years (1984-85). However, since the immunization targets were mainly adult, not infant, this project was annulled in late 1985. Following this project, hepatitis B mass immunization program in school was carried out. In year 1995, hepatitis B vaccine was included in national immunization program. The use of disposable syringe was recommended from year 1980 but legislated in year 1985, finally. Conclusion : The mainstay in controlling hepatitis B in Republic of Korea was coordination of prompt introduction of vaccine, mass immunization, high vaccination coverage rate, or use of disposable syringes. However, since there is lack of official data available, it is urgent to arrange and computerize all government data related to infectious diseases.

• (The)Study of the Eastern Classic
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• no.37
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• pp.33-61
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• 2009

In the late Koryo period, until 14th century, there had been at least two groups of Manchurians who were conferred citizenships; one group was living as an original inhabitant in the coastal area of north­eastern part of Korean peninsular, long time ago, and they were over one thousand households. The other was coming down from inland, eastern part of Yoha River, to the area of Tuman River to settle down and they were at least around one hundred and sixty households, including such tribes as Al-tha-ry, Ol-lyang-hap, Ol-jok-hap and others. They were treated courteously, from the early days of Choson dynasty, with governmental policies in an economic, political, and social ways. They were given, for instance, a house, a land, household furniture, and clothes. They were allowed to get marry with a native Korean to settle down. They were educated how to cultivate their lands. It was also possible for them to be given an official position politically or allowed to take a National Civil Official Examination. The fact they could take such an Examination, in particular, means they were treated fairly and equally, because they also had a privilege to improve their social positions through the formal system as much as common people. Two typical families were scrutinized, in this paper, family Chong-hae Lee and family Chon-ju Ju. All of them were successful to settle down with different backgrounds each other. The former were from a headman, Lee Jee-ran, who controlled his tribe, over five hundred households. He was given three titles of a meritorious retainer at the founding of Chosun dynasty, at the retrieval of armies, and an enshrined retainer. His son, Lee Wha-yong, was also given a vassal of merit who kept a close tie successfully with the king's family through a marriage. Upon the foundation of their ancestors, their grandsons, family Lee Hyo-yang and family Lee Hyo-gang, each, had taken solid root as an aristocratic Yang-ban class. The former became a high officer family, generation by generation, while the latter changed into a civil official family through Civil Official Examinations. They lived mainly around Seoul, Kyong-gi Province and some lived in their original places, Ham-kyong Province. Chu-man, the first ancestor, was given a meritorious retainer at the founding of the dynasty and Chu-in was also given a high officer position from the government. They kept living at the original place, Ham-heung, Ham-kyong Province, and then became an outstanding local family there. They began to pass the Civil Official Examinations. After 17th century on the passers were 17 in Civil Official Examinations and 40 were passed in lower civil examinations. The positions in government they attained usually were remonstrance which position was prohibited particularly to North­Western people at that time. The Chosun dynasty was open to Machurians widely through the system of envoy, convoy, and naturalization. It was intended to build up an enclosure policy through a friendly diplomatic relation with them against any possible invasion from outside. This is one reason why they were supported fully that much in a various way.

• Journal of Climate Change Research
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• v.3 no.1
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• pp.71-88
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• 2012

The global warming is probably the most significant issue of concern all over the world and according to the report published by the Intergovernmental Panel on Climate Change (IPCC), the average temperature and extent of global warming around the globe have been on the rise and so have the uncertainty for the future. Such effects of global warming have adverse effects on basic foundation of the mankind in numerous ways and water resource is no exception. The researches on water resources assessment for climate change are significant enough to be used as the preliminary data for researches in other fields. In this research, a total of 124 peer-reviewed publications and 57 reports on the subject of research on climate change related to water resources, that has been carried out so far in Korea has been reviewed. The research on climate change in Korea (inclusive of the peer-reviewed articles and reports) has mainly focused on the future projection and assessment. In the fields of hydrometeorology tendency and projection, the analysis has been carried out with focus on surface water, flood, etc. for hydrological variables and precipitation, temperature, etc. for meteorological variables. This can be attributed to the large, seasonal deviation in the amount of rainfall and the difficulty of water resources management, which is why, the analysis and research have been carried out with focus on those variables such as precipitation, temperature, surface water, flood, etc. which are directly related to water resources. The future projection of water resources in Korea may differ from region to region; however, variables such as precipitation, temperature, surface water, etc. have shown a tendency for increase; especially, it has been shown that whereas the number of casualties due to flood or drought decreases, property damage has been shown to increase. Despite the fact that the intensity of rainfall, temperature, and discharge amount are anticipated to rise, appropriate measures to address such vulnerabilities in water resources or management of drainage area of future water resources have not been implemented as yet. Moreover, it has been found that the research results on climate change that have been carried out by different bodies in Korea diverge significantly, which goes to show that many inherent uncertainties exist in the various stage of researches. Regarding the strategy in response to climate change, the voluntary response by an individual or a corporate entity has been found to be inadequate owing to the low level of awareness by the citizens and the weak social infrastructure for responding to climate change. Further, legal or systematic measures such as the governmental campaign on the awareness of climate change or the policy to offer incentives for voluntary reduction of greenhouse gas emissions have been found to be insufficient. Lastly, there has been no case of any research whatsoever on the anticipated effects on the economy brought about by climate change, however, there are a few cases of on-going researches. In order to establish the strategy to prepare for and respond to the anticipated lack of water resources resulting from climate change, there is no doubt that a standardized analysis on the effects on the economy should be carried out first and foremost.