• Journal of Information Technology Applications and Management
• /
• v.19 no.2
• /
• pp.39-57
• /
• 2012

Business environment goes through an unprecedented massive shift that has never happened before. For that reason, business models have to be designed to considering the changed environments. This study develops a business model for independent business to build an ontology system. The system has potentials to improve existing independent business models and to provide more detailed and precise information for users as relevant data accumulates. The ontology system helps independent business meet market demands, generate income for founders, and increase society-wide income levels. The results of the study provides insights to build ontology systems for new starting enterprises running their business.

• Journal of Korea Society of Industrial Information Systems
• /
• v.22 no.6
• /
• pp.85-94
• /
• 2017

In this study, we argue from the Resource-Based View and Signaling Theory that Independent and Corporate VC firms have Different Impacts on time to IPO due to their Different Interests, Motivations, and Resources. Independent VC firms are primarily Financial Oriented, but Corporate VC firms generally are Strategic in Orientation. The results of this study indicate that the time to IPO is differentiated between Corporate VC firms and Independent VC firms. The results show that Independent VC firms have shorter the time to IPO compared to the time to IPO of Corporate VC firms. In addition, this study suggests that it is necessary for firms to select a venture capital that suits their situation and secure a competitive advantage. Using a sample of 300 IPOs from 2010 to 2016, we found Support for the Hypotheses that Independent VC and Corporate VC Ownership are Positively Associated with Time to IPO, whereas Time to IPO of Corporate VC Ownership is Longer than that of Independent VC Ownership.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.39
• /
• pp.59-85
• /
• 2008

An independent bank guarantee(aka an independent guarantee) is provided as an security on a principal obligor's performance of his obligation, and a guarantor should pay the guaranteed amount only upon a beneficiary's written demand. A standby letter of credit has been used in the United States, since it was construed that a bank should not issue a guarantee. There was wide misunderstanding that a standby letter of credit differs from an independent bank guarantee. However, a standby letter of credit is the same security as an independent bank guarantee, and in international business a standby letter of credit is not differentiated from a independent bank guarantee. An independent bank guarantee are independent from the underlying contract, unconditional, and irrevocable. And a guarantor should pay upon written demand without proving a principal obligor breaches the underlying contract. These features of an independent bank guarantee has been abused in international transactions. Thus it has been proposed that some exceptions to the features of an independent bank guarantee should be allowed. United Nations Convention on Independent Guarantees and Standby Letter of Credit(1995) stipulates some exceptions to payment obligation. Export bond insurance, a part of export insurances, operated by the Korea Export Insurance Corporation under the Export Insurance Act, is used as a security for unfair calling by a beneficiary under an independent bank guarantee. Most of the export subsides by the government are prohibited under WTO's Agreement on Subsidies and Countervailing Measures. However, as export insurance is allowed under the WTO, it operates a significant role in enhancing the export. In the event that export bond insurance is provided for a guarantor, an obligor who is subject to recourse by a guarantor, can be exempt from the recourse in case of unfair calling. The Korea Export Insurance Corporation, an insurer, bears unfair calling risk by a beneficiary. Generally it is understood that a demand shall be made before the expiry of an independent bank guarantee. However this is not absolutely true, it shall be decided by URDG, ISP98, the governing law.

• Journal of Distribution Science
• /
• v.12 no.3
• /
• pp.33-41
• /
• 2014

Purpose - The purpose of this study was to predict the selection of independent auditors in the companies listed on the Tehran Stock Exchange (TSE) using a combination of PSO algorithm and CART. This study involves applied research. Design, approach and methodology - The population consisted of all the companies listed on TSE during the period 2005-2010, and the sample included 576 data specimens from 95 companies during six consecutive years. The independent variables in the study were the financial ratios of the sample companies, which were analyzed using two data mining techniques, namely, PSO algorithm and CART. Results - The results of this study showed that among the analyzed variables, total assets, current assets, audit fee, working capital, current ratio, debt ratio, solvency ratio, turnover, and capital were predictors of independent auditor selection. Conclusion - The current study is practically the first to focus on this topic in the specific context of Iran. In this regard, the study may be valuable for application in developing countries.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.71
• /
• pp.85-105
• /
• 2016

Independent guarantee is new financial product developed in international commercial transaction. The nature of independent guarantee is an independent undertaking, which takes the form of documentary transaction. As long as the documents presented by the beneficiary are on their face complying with the terms and conditions of the guarantee, the guarantor is obliged to pay upon the complying presentation. Where parties choose to apply for issue of independent guarantee in international commercial transactions in China, Chinese court shall respect the autonomy of parties. If either the guarantor or the beneficiary is located outside of China, or the facts which cause the establishment, change or cancellation of independent guarantee relationship occurred outside of China, it shall be deemed as foreign related independent guarantee. If the interested parties requests for confirmation of the independence of foreign related independent guarantee, it shall be supported by Chinese court. However, parties dealing with Chinese domestic commercial transaction have not fully realized the severity of independent guarantee liability. The market credit is being cultivated and the financial innovation is being explored at present in China. In order to guard against the systematic and the regional financial risk, before relevant rules are promulgated, Chinese court shall not recognize the independence guarantees issued for the domestic commercial transaction, but treat it as joint liability surety.

• The Journal of the Korea Contents Association
• /
• v.13 no.2
• /
• pp.71-80
• /
• 2013

This study addressed status of PP(Program Provider) market, particularly focusing on independent PP. This research selected 14 independent channels and did in depth interviews for them. This study analyzed 14 channels in terms of management, production, and contents. The result showed that independent channels were in inferior condition than MPP(multiple PP) on all the aspects of management, production and content. The management structure of the PP were very vulnerable, production environment was not good. The PP were placed in a difficult environment in terms of production and purchases of content, therefore focused on distribution rather than production. This unbalance on the PP market resulted in negative effect on Korea's contents industry as well as PP industry. Therefore, this study suggested policy and regulatory reforms are needed to improve inferior status of independent PP.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.787-796
• /
• 2021

This study investigates the effect of chief executive officers (CEO) demographic characteristics such as age, functional experience, education, and gender, on corporate leverage decisions. This study investigates the independent commissioner's role in moderating the relationship between CEO demographic characteristics and leverage decisions. The data used is panel data with a sample of 283 non-financial companies listed on the Indonesia Stock Exchange (BEI) from 2010-2017. Moderated regression analysis is used as an analytical technique, with the selected model fixed effects model. The results showed that male and young CEOs were more risk-averse, so they tended to use debt more. However, this study found no evidence of the effect of CEO experience and education on leverage. This study finds evidence that independent commissioners reduce the influence of CEO age and gender on leverage decisions. It shows the role of independent commissioners in controlling risk-taking from male and young CEOs related to leverage decisions. These results become input for companies to consider demographic characteristics in choosing a CEO. Also, companies need a board (in this study seen from independent commissioners) that is strong enough to control the CEO regarding risky decision making, such as leverage decisions.

• Journal of the Korean housing association
• /
• v.6 no.1
• /
• pp.89-101
• /
• 1995

This study is to analyze dwelling environmental planning in old age of middle age. For this purpose. the data were collected by using questionnaire distributed to 332. The data were analyzed by Chisquare test. The major findings of this research were as follow: 1. In housing plan of old age. they prefer new house .that is not exisiting house. independent house and ordindry housing region in the suburbs of urban. 2. It is 69.3～99 square meter what size of house is suitable for independent life of aged person for living with children. it is 102.3～132 square meter. 3. In the stage of independent or semi-independent life. they want aged couple-independent life. In the stage of dependent life. they want to be cared with children. 4. The garden(madang) is the most important space for age couple in establishing housing plan. They want to amplity life recuperation center and job providing facilities. In old age housing project. they prefer housing type with facility that combine old age house with young age house. According to increasement of dependence. the service support system required flexi-care-system.

• English Language & Literature Teaching
• /
• v.11 no.2
• /
• pp.195-208
• /
• 2005

This paper discusses the independent seminar as one of the appropriate courses, in particular, for the students who study English literature in the doctoral program. Those who take the Ph.D. program in English literature are considered as future scholars or teachers. In taking the coursework, they not only delve into the knowledge of literature, but also begin to establish broader and deeper senses of research ability. The independent seminar class helps them build such senses through the way in which they experience to the development of the syllabus by themselves. Furthermore, in contrast to a regular class, in which a group of students learn in a classroom, the independent seminar gives each student intensive interactions with his/her professor through the out-of-classroom circumstances, since the seminar is based upon one-on-one study between the student and the professor.

• Communications of Mathematical Education
• /
• v.25 no.1
• /
• pp.185-205
• /
• 2011

In this paper, we investigated the mathematical output of a gifted student's independent study. We chose one student who was taking a mentorship course in mathematics at the Gifted Education Center in Chonnam National University, and analyzed the characters of the result which a student showed through the output of independent study and studied the psychological change of a student while he was making a presentation of the results of his study. We found following facts. First, a mentor-independent study improves a mathematical gifted student's inductive thinking and ability to generalize and apply to other cases. Second, presenting a mathematical gifted student's output for mentor-independent study improves his ability of mathematical communication in the abilities of creative problem solving. Finally, there is an increased change in his perception and self-efficacy of mathematics after the presentation.