• Korea journal of population studies
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• v.20 no.2
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• pp.135-159
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• 1997

Education effect on women's participation in the labor market has been known to be small in Korea. Then, the meaning of women's education as human capital needs to be questioned. Both the increasing desire for working among women and the criticism to under-utilization of women's education in the labor market reflect that women's education is surely perceived as human capital. However, women's education dose not seem to function well as human capital in the labor market. According to previous studies, it is pointed out that educational effect on women's participation in the labor market is weak but the effect on earnings is evident. There were few attempts to evaluate economic returns to women's education over the life-cycle analyzing both working and non-working women. Considering that the economic behaviors of women in nonagricultural sector have changed little until the mid-1980s, I tried to examine the meaning of education as human capital over the women's life cycle using cross - sectional data. This study shows that the educational effect on women's participation in the labor market does not exist and the working period is very short. Although the educational effect on earnings among working women is clearly shown, it tends to limited to younger women. Despite the educational effect on earnings among younger women, the meaning of education as human capital among Korean women does not hold well due to short working period and the low participation of the educated in the labor market.

• Journal of the Korea Society of Computer and Information
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• v.27 no.1
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• pp.183-191
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• 2022

The Korea Stewardship Code 'Principles on the Fiduciary Responsibilities of Institutional Investors' was introduced in 2016 and the National Pension Service adopted it in 2018. the National Pension Service casted 'dessent' vote on the agenda which is able to reduce the ownership interest of shareholder in general meeting. This paper examines whether 'dissent' voting affected on the ownership interest of shareholder or not. The 'dissent' vote on the agenda are related to revision artical of corperation, appointment or compensation of director and auditor, approval of financial statements ect. The proxies of earnings management is discretionary accruals calculated by modified Jones model. The control variablies are size of assets, liabilities per assets, returns on assets. The results of this study are as followings. First, the 'dissent' voting on the agenda are related to revision artical of corperation, M&A, approval of financial statements ect. are not significant because their sample size is too small, Second, the 'dissent' voting on appointment of director and auditor affected on reduction of discretionary accruals. So the National Pension Service activism shall affect on increasing the ownership interest of shareholder. Third, the 'dissent' voting on compensation of director and auditor is not affected on reduction of discretionary accruals. This results show that 'unconditional dissent voting' on the agenda in general meeting is not to reduce the ownership interest of shareholder.

• Land and Housing Review
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• v.14 no.4
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• pp.63-76
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• 2023

Investors should understand and actively consider factors like location, future value, policies, pricing, market trends, and their income, as these elements can shift with changing local, social, economic, and policy environments. This study seeks to clarify the impact of investment factors on the performance and reinvestment intentions of Sejong City investors by surveying those who have invested in real estate. This study employs a structural equation model with confirmatory factor analysis, focusing on four aspects: value, economic and policy, psychological, and financial. We find that the investment value factor has the largest impact on investment performance, indicating that investors prioritize the investment value of real estate in Sejong City. In addition, factors increasing asset value and expected satisfaction were significant, indicating that real estate investment in Sejong City yields high returns and investor satisfaction. with a positive outlook for future reinvestment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.14 no.2
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• pp.1-13
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• 2019

As a way to find new and innovative technologies, many companies have invested in and acquired skilled startups. Because startups are usually small in size and have a small history of past business experience, there are many risks involved in acquiring them as they have limited technical skills and business feasibility verification methods. Thus, venture capital plays an important role in discovering and investing competitive startups. While Independent Venture Capital generally values financial returns, Corporate Venture Capital, which plays investment roles in the firm, values business synergies with the parent company from a strategic perspective. In an industry sector where development of technology is rapid and whether new technology is held determines a company's competitiveness, existing companies incorporate startups with innovative technologies into their investment portfolios, collaborate together, and take over for comprehensive cooperation. In addition, new investments and acquisitions are carried out through the management of portfolio companies to obtain and utilize industry information. In this paper, major U.S. companies listed in the U.S. verified their investment activities through corporate venture capital and their impact on parent companies and startups through regression, while the parent company's acquisition performance was analyzed through an event study based on a stock price analysis. The criteria for startup were defined as companies with less than 12 years of experience, and the analysis showed that the parent companies with corporate venture capital with a larger number of investments actively take over startups. In addition, increasing corporate venture capital's financial investment activities shows a negative impact on the parent companies' acquisition activities, and the acquisition performance increased when the parent companies took over startups in its portfolio.

• Korean Journal of Mineralogy and Petrology
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• v.35 no.3
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• pp.333-344
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• 2022

The quarrying and utilization of natural building stones such as granite and marble are rapidly emerging in developing countries. A huge amount of wastes is being generated during the processing, cutting and sizing of these stones to make them useable. These wastes are disposed of in the open environment and the toxic nature of these wastes negatively affects the environment and human health. The growth trend in the world stone industry was confirmed in output for 2019, increasing more than one percent and reaching a new peak of some 155 million tons, excluding quarry discards. Per-capita stone use rose to 268 square meters per thousand persons (m²/1,000 inh), from 266 the previous year and 177 in 2001. However, we have to take into consideration that the world's gross quarrying production was about 316 million tons (100%) in 2019; about 53% of that amount, however, is regarded as quarrying waste. With regards to the stone processing stage, we have noticed that the world production has reached 91.15 million tons (29%), and consequently this means that 63.35 million tons of stone-processing scraps is produced. Therefore, we can say that, on a global level, if the quantity of material extracted in the quarry is 100%, the total percentage of waste is about 71%. This raises a substantial problem from the environmental, economical and social point of view. There are essentially three ways of dealing with inorganic waste, namely, reuse, recycling, or disposal in landfills. Reuse and recycling are the preferred waste management methods that consider environmental sustainability and the opportunity to generate important economic returns. Although there are many possible applications for stone waste, they can be summarized into three main general applications, namely, fillers for binders, ceramic formulations, and environmental applications. The use of residual sludge for substrate production seems to be highly promising: the substrate can be used for quarry rehabilitation and in the rehabilitation of industrial sites. This new product (artificial soil) could be included in the list of the materials to use in addition to topsoil for civil works, railway embankments roundabouts and stone sludge wastes could be used for the neutralization of acidic soil to increase the yield. Stone waste is also possible to find several examples of studies for the recovery of mineral residues, including the extraction of metallic elements, and mineral components, the production of construction raw materials, power generation, building materials, and gas and water treatment.

• Asia pacific journal of information systems
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• v.18 no.4
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• pp.27-55
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• 2008

Due to the increasing and intensifying competition in the Internet shopping market, it has been recognized as very important to develop an effective policy and strategy for acquiring loyal customers. For this reason, web site designers need to know if a new Internet shopping mall(ISM) will be accepted. Researchers have been working on identifying factors for explaining and predicting user acceptance of an ISM. Some studies, however, revealed inconsistent findings on the antecedents of user acceptance of a website. Lack of consideration for individual differences in user ability is believed to be one of the key reasons for the mixed findings. The elaboration likelihood model (ELM) and several studies have suggested that individual differences in ability plays an moderating role on the relationship between the antecedents and user acceptance. Despite the critical role of user ability, little research has examined the role of user ability in the Internet shopping mall context. The purpose of this study is to develop a user acceptance model that consider the moderating role of user ability in the context of Internet shopping. This study was initiated to see the ability of the technology acceptance model(TAM) to explain the acceptance of a specific ISM. According to TAM. which is one of the most influential models for explaining user acceptance of IT, an intention to use IT is determined by usefulness and ease of use. Given that interaction between user and website takes place through web interface, the decisions to accept and continue using an ISM depend on these beliefs. However, TAM neglects to consider the fact that many users would not stick to an ISM until they trust it although they may think it useful and easy to use. The importance of trust for user acceptance of ISM has been raised by the relational views. The relational view emphasizes the trust-building process between the user and ISM, and user's trust on the website is a major determinant of user acceptance. The proposed model extends and integrates the TAM and relational views on user acceptance of ISM by incorporating usefulness, ease of use, and trust. User acceptance is defined as a user's intention to reuse a specific ISM. And user ability is introduced into the model as moderating variable. Here, the user ability is defined as a degree of experiences, knowledge and skills regarding Internet shopping sites. The research model proposes that the ease of use, usefulness and trust of ISM are key determinants of user acceptance. In addition, this paper hypothesizes that the effects of the antecedents(i.e., ease of use, usefulness, and trust) on user acceptance may differ among users. In particular, this paper proposes a moderating effect of a user's ability on the relationship between antecedents with user's intention to reuse. The research model with eleven hypotheses was derived and tested through a survey that involved 470 university students. For each research variable, this paper used measurement items recognized for reliability and widely used in previous research. We slightly modified some items proper to the research context. The reliability and validity of the research variables were tested using the Crobnach's alpha and internal consistency reliability (ICR) values, standard factor loadings of the confirmative factor analysis, and average variance extracted (AVE) values. A LISREL method was used to test the suitability of the research model and its relating six hypotheses. Key findings of the results are summarized in the following. First, TAM's two constructs, ease of use and usefulness directly affect user acceptance. In addition, ease of use indirectly influences user acceptance by affecting trust. This implies that users tend to trust a shopping site and visit repeatedly when they perceive a specific ISM easy to use. Accordingly, designing a shopping site that allows users to navigate with heuristic and minimal clicks for finding information and products within the site is important for improving the site's trust and acceptance. Usefulness, however, was not found to influence trust. Second, among the three belief constructs(ease of use, usefulness, and trust), trust was empirically supported as the most important determinants of user acceptance. This implies that users require trustworthiness from an Internet shopping site to be repeat visitors of an ISM. Providing a sense of safety and eliminating the anxiety of online shoppers in relation to privacy, security, delivery, and product returns are critically important conditions for acquiring repeat visitors. Hence, in addition to usefulness and ease of use as in TAM, trust should be a fundamental determinants of user acceptance in the context of internet shopping. Third, the user's ability on using an Internet shopping site played a moderating role. For users with low ability, ease of use was found to be a more important factors in deciding to reuse the shopping mall, whereas usefulness and trust had more effects on users with high ability. Applying the EML theory to these findings, we can suggest that experienced and knowledgeable ISM users tend to elaborate on such usefulness aspects as efficient and effective shopping performance and trust factors as ability, benevolence, integrity, and predictability of a shopping site before they become repeat visitors of the site. In contrast, novice users tend to rely on the low elaborating features, such as the perceived ease of use. The existence of moderating effects suggests the fact that different individuals evaluate an ISM from different perspectives. The expert users are more interested in the outcome of the visit(usefulness) and trustworthiness(trust) than those novice visitors. The latter evaluate the ISM in a more superficial manner focusing on the novelty of the site and on other instrumental beliefs(ease of use). This is consistent with the insights proposed by the Heuristic-Systematic model. According to the Heuristic-Systematic model. a users act on the principle of minimum effort. Thus, the user considers an ISM heuristically, focusing on those aspects that are easy to process and evaluate(ease of use). When the user has sufficient experience and skills, the user will change to systematic processing, where they will evaluate more complex aspects of the site(its usefulness and trustworthiness). This implies that an ISM has to provide a minimum level of ease of use to make it possible for a user to evaluate its usefulness and trustworthiness. Ease of use is a necessary but not sufficient condition for the acceptance and use of an ISM. Overall, the empirical results generally support the proposed model and identify the moderating effect of the effects of user ability. More detailed interpretations and implications of the findings are discussed. The limitations of this study are also discussed to provide directions for future research.

• Journal of Intelligence and Information Systems
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• v.18 no.2
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• pp.29-45
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• 2012

Bond rating is regarded as an important event for measuring financial risk of companies and for determining the investment returns of investors. As a result, it has been a popular research topic for researchers to predict companies' credit ratings by applying statistical and machine learning techniques. The statistical techniques, including multiple regression, multiple discriminant analysis (MDA), logistic models (LOGIT), and probit analysis, have been traditionally used in bond rating. However, one major drawback is that it should be based on strict assumptions. Such strict assumptions include linearity, normality, independence among predictor variables and pre-existing functional forms relating the criterion variablesand the predictor variables. Those strict assumptions of traditional statistics have limited their application to the real world. Machine learning techniques also used in bond rating prediction models include decision trees (DT), neural networks (NN), and Support Vector Machine (SVM). Especially, SVM is recognized as a new and promising classification and regression analysis method. SVM learns a separating hyperplane that can maximize the margin between two categories. SVM is simple enough to be analyzed mathematical, and leads to high performance in practical applications. SVM implements the structuralrisk minimization principle and searches to minimize an upper bound of the generalization error. In addition, the solution of SVM may be a global optimum and thus, overfitting is unlikely to occur with SVM. In addition, SVM does not require too many data sample for training since it builds prediction models by only using some representative sample near the boundaries called support vectors. A number of experimental researches have indicated that SVM has been successfully applied in a variety of pattern recognition fields. However, there are three major drawbacks that can be potential causes for degrading SVM's performance. First, SVM is originally proposed for solving binary-class classification problems. Methods for combining SVMs for multi-class classification such as One-Against-One, One-Against-All have been proposed, but they do not improve the performance in multi-class classification problem as much as SVM for binary-class classification. Second, approximation algorithms (e.g. decomposition methods, sequential minimal optimization algorithm) could be used for effective multi-class computation to reduce computation time, but it could deteriorate classification performance. Third, the difficulty in multi-class prediction problems is in data imbalance problem that can occur when the number of instances in one class greatly outnumbers the number of instances in the other class. Such data sets often cause a default classifier to be built due to skewed boundary and thus the reduction in the classification accuracy of such a classifier. SVM ensemble learning is one of machine learning methods to cope with the above drawbacks. Ensemble learning is a method for improving the performance of classification and prediction algorithms. AdaBoost is one of the widely used ensemble learning techniques. It constructs a composite classifier by sequentially training classifiers while increasing weight on the misclassified observations through iterations. The observations that are incorrectly predicted by previous classifiers are chosen more often than examples that are correctly predicted. Thus Boosting attempts to produce new classifiers that are better able to predict examples for which the current ensemble's performance is poor. In this way, it can reinforce the training of the misclassified observations of the minority class. This paper proposes a multiclass Geometric Mean-based Boosting (MGM-Boost) to resolve multiclass prediction problem. Since MGM-Boost introduces the notion of geometric mean into AdaBoost, it can perform learning process considering the geometric mean-based accuracy and errors of multiclass. This study applies MGM-Boost to the real-world bond rating case for Korean companies to examine the feasibility of MGM-Boost. 10-fold cross validations for threetimes with different random seeds are performed in order to ensure that the comparison among three different classifiers does not happen by chance. For each of 10-fold cross validation, the entire data set is first partitioned into tenequal-sized sets, and then each set is in turn used as the test set while the classifier trains on the other nine sets. That is, cross-validated folds have been tested independently of each algorithm. Through these steps, we have obtained the results for classifiers on each of the 30 experiments. In the comparison of arithmetic mean-based prediction accuracy between individual classifiers, MGM-Boost (52.95%) shows higher prediction accuracy than both AdaBoost (51.69%) and SVM (49.47%). MGM-Boost (28.12%) also shows the higher prediction accuracy than AdaBoost (24.65%) and SVM (15.42%)in terms of geometric mean-based prediction accuracy. T-test is used to examine whether the performance of each classifiers for 30 folds is significantly different. The results indicate that performance of MGM-Boost is significantly different from AdaBoost and SVM classifiers at 1% level. These results mean that MGM-Boost can provide robust and stable solutions to multi-classproblems such as bond rating.

• The Korean Nurse
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• v.36 no.1
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• pp.77-96
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• 1997

The duty shifts of hospital nurses not only affect nurses' physical and mental health but also present various personnel management problems which often result in high turnover rates. In this context a study was carried out from October to November 1995 for a period of two months to find out the status of hospital nurses' duty shift patterns, and preferred duty hours and fixed duty shifts. The study population was 867 RNs working in five general hospitals located in Seoul and its vicinity. The questionnaire developed by the writer was used for data collection. The response rate was 85.9 percent or 745 returns. The SAS program was used for data analysis with the computation of frequencies, percentages and Chi square test. The findings of the study are as follows: 1. General characteristics of the study population: 56 percent of respondents was (25 years group and 76.5 percent were "single": the predominant proportion of respondents was junior nursing college graduates(92.2%) and have less than 5 years nursing experience in hospitals(65.5%). For their future working plan in nursing profession, nearly 50% responded as uncertain The reasons given for their career plan was predominantly 'personal growth and development' rather than financial reasons. 2. The interval for rotations of duty stations was found to be mostly irregular(56.4%) while others reported as weekly(16.1%), monthly(12.9%), and fixed terms(4.6%). 3. The main problems related to duty shifts particularly the evening and night duty nurses reported were "not enough time for the family, " "afraid of security problems after the work when returning home late at night." and "lack of leisure time". "problems in physical and physiological adjustment." "problems in family life." "lack of time for interactions with fellow nurses" etc. 4. The forty percent of respondents reported to have '1-2 times' of duty shift rotations while all others reported that '0 time'. '2-3 times'. 'more than 3 times' etc. which suggest the irregularity in duty shift rotations. 5. The majority(62.8%) of study population found to favor the rotating system of duty stations. The reasons for favoring the rotation system were: the opportunity for "learning new things and personal development." "better human relations are possible. "better understanding in various duty stations." "changes in monotonous routine job" etc. The proportion of those disfavor the rotating 'system was 34.7 percent. giving the reasons of"it impedes development of specialization." "poor job performances." "stress factors" etc. Furthermore. respondents made the following comments in relation to the rotation of duty stations: the nurses should be given the opportunity to participate in the. decision making process: personal interest and aptitudes should be considered: regular intervals for the rotations or it should be planned in advance. etc. 6. For the future career plan. the older. married group with longer nursing experiences appeared to think the nursing as their lifetime career more likely than the younger. single group with shorter nursing experiences ($x^2=61.19.{\;}p=.000;{\;}x^2=41.55.{\;}p=.000$). The reason given for their future career plan regardless of length of future service, was predominantly "personal growth and development" rather than financial reasons. For further analysis, the group those with the shorter career plan appeared to claim "financial reasons" for their future career more readily than the group who consider the nursing job as their lifetime career$(x^2$= 11.73, p=.003) did. This finding suggests the need for careful .considerations in personnel management of nursing administration particularly when dealing with the nurses' career development. The majority of respondents preferred the fixed day shift. However, further analysis of those preferred evening shift by age and civil status, "< 25 years group"(15.1%) and "single group"(13.2) were more likely to favor the fixed evening shift than > 25 years(6.4%) and married(4.8%)groups. This differences were statistically significant ($x^2=14.54, {\;}p=.000;{\;}x^2=8.75, {\;}p=.003$). 7. A great majority of respondents(86.9% or n=647) found to prefer the day shifts. When the four different types of duty shifts(Types A. B. C, D) were presented, 55.0 percent of total respondents preferred the A type or the existing one followed by D type(22.7%). B type(12.4%) and C type(8.2%). 8. When the condition of monetary incentives for the evening(20% of salary) and night shifts(40% of. salary) of the existing duty type was presented. again the day shift appeared to be the most preferred one although the rate was slightly lower(66.4% against 86.9%). In the case of evening shift, with the same incentive, the preference rates for evening and night shifts increased from 11.0 to 22.4 percent and from 0.5 to 3.0 percent respectively. When the age variable was controlled. < 25 yrs group showed higher rates(31.6%. 4.8%) than those of > 25 yrs group(15.5%. 1.3%) respectively preferring the evening and night shifts(p=.000). The civil status also seemed to operate on the preferences of the duty shifts as the single group showed lower rate(69.0%) for day duty against 83. 6% of the married group. and higher rates for evening and night duties(27.2%. 15.1%) respectively against those of the married group(3.8%. 1.8%) while a higher proportion of the married group(83. 6%) preferred the day duties than the single group(69.0%). These differences were found to be statistically all significant(p=.001). 9. The findings on preferences of three different types of fixed duty hours namely, B, C. and D(with additional monetary incentives) are as follows in order of preference: B type(12hrs a day, 3days a wk): day shift(64.1%), evening shift(26.1%). night shift(6.5%) C type(12hrs a day. 4days a wk) : evening shift(49.2%). day shift(32.8%), night shift(11.5%) D type(10hrs a day. 4days a wk): showed the similar trend as B type. The findings of higher preferences on the evening and night duties when the incentives are given. as shown above, suggest the need for the introductions of different patterns of duty hours and incentive measures in order to overcome the difficulties in rostering the nursing duties. However, the interpretation of the above data, particularly the C type, needs cautions as the total number of respondents is very small(n=61). It requires further in-depth study. In conclusion. it seemed to suggest that the patterns of nurses duty hours and shifts in the most hospitals in the country have neither been tried for different duty types nor been flexible. The stereotype rostering system of three shifts and insensitiveness for personal life aspect of nurses seemed to be prevailing. This study seems to support that irregular and frequent rotations of duty shifts may be contributing factors for most nurses' maladjustment problems in physical and mental health. personal and family life which eventually may result in high turnover rates. In order to overcome the increasing problems in personnel management of hospital nurses particularly in rostering of evening and night duty shifts, which may related to eventual high turnover rates, the findings of this study strongly suggest the need for an introduction of new rostering systems including fixed duties and appropriate incentive measures for evenings and nights which the most nurses want to avoid, In considering the nursing care of inpatients is the round-the clock business. the practice of the nursing duty shift system is inevitable. In this context, based on the findings of this study. the following are recommended: 1. The further in-depth studies on duty shifts and hours need to be undertaken for the development of appropriate and effective rostering systems for hospital nurses. 2. An introduction of appropriate incentive measures for evening and night duty shifts along with organizational considerations such as the trials for preferred duty time bands, duty hours, and fixed duty shifts should be considered if good quality of care for the patients be maintained for the round the clock. This may require an initiation of systematic research and development activities in the field of hospital nursing administration as a part of permanent system in the hospital. 3. Planned and regular intervals, orientation and training, and professional and personal growth should be considered for the rotation of different duty stations or units. 4. In considering the higher degree of preferences in the duty type of "10hours a day, 4days a week" shown in this study, it would be worthwhile to undertake the R&D type studies in large hospital settings.

• Journal of Korean Society of Forest Science
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• v.80 no.1
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• pp.72-81
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• 1991

This study was carried out to provide necessary information for improving quarrying industry management in Korea. The results of the study are summarized as follows : 1. In aggregate and building-stone quarrying firms the managers over 40 years of age are 97% and 89.1%, the ones above education level of high school are 90% and 85% and the ones not more than 10 years of quarrying experience are 70% and 52%, respectively. Accordingly it can be pointed out that most of the managers of two types of firms are relatively old, have high educational background, while quarrying experiences of building-stone firm managers are longer than that of aggregate firm managers. 2. Most of the management forms are social corporation(60%) for aggregate quarry firms and private management(76%) for building-stone firms. Average areas of permitted stone-pits of aggregate and building-stone quarries are about 2.86ha and 1.66ha respectively. That is, aggregate quarrying firms are carried on a larger scale than building-stone quarrying firms. 3. The yearly average product of aggregate quarrying firms has increased steadily from $88.961m^3$ in 1985 to $144.028m^3$ in 1988, while, in case of building-stone quarry firms, it has significantly increased from $4.155m^3$ to $19.462m^3$ from 1985 to 1987, but reduced to $13.400m^3$ in 1988. Unstable production activities of building-stone quarrying firms may require continuous government support. 4. Major cost items are equipment rental, depreciation, salaries, repair, maintenance for aggregate quarrying firms, and salaries, depreciation, fuel, tax for building-stone quarrying firms. The yearly average rate of return is about 9.7% for aggregate quarry firms and 2.6% for building-stone quarry firms. It can be pointed out that aggregate quarrying firms is better managed than building-stone quarrying firms. 5. The production elasticity of salary for aggregate quarrying firms is 0.495, that of employees is 0.559, and that of capital service is 0.513. The sum of the elasticities is 1.257>1. Fur building-stone quarrying firms, that of employees is 0.492, that of variable costs is 0.192, and that of capital service is 0.498. The sum of elasticities is 1.172>1, thus denotes the increasing returns to scale for both types quarrying firms. 6. The ratio of marginal value product to opportunity cost of empolyees is 2.54, that of variable costs is 3.62, and that of capital service is 1.45, in aggregate quarrying firms. That of employees is 2.47, that is variable costs was 2.34, and that of capital service is 19.67 in building-stone quarrying firms. Therefore the critical factors for more expansion of management scale in aggregate quarrying firms are variable cost and employees, and are capital service in building-stone quarry ing firms. 7. The break-even points of stone sales are about 0.587 billion won and 0.22 billion won in aggregate and building-stone quarrying firms respectively. The optimum sales Level for profit maximization are about 2.0 billion and 0.5 billion in aggregate and building-stone quarry firms respectively.