• Journal of the Economic Geographical Society of Korea
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• v.23 no.4
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• pp.373-394
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• 2020

The strengthening of multilateral international sanctions against North Korea has raised questions as to how effective they are in exerting pressure on the country's economy. In this paper, we address this question by examining their impact on the country's integration into regional and global apparel production networks. North Korea has in the past decade become an increasingly competitive exporter of apparel on the basis of consignment-based processing arrangements. Official trade data shows a sharp drop in North Korean exports of clothing since the sectoral ban in 2017. There is evidence to suggest, however, that exports have continued on a more informal and clandestine basis. North Korea's integration into apparel production networks has also taken the form of the dispatch of workers to factories in China's northeastern border regions. Yet there is evidence that the recent sanctions imposed on such practices has similarly led to illicit practices such as working on visitors' visas, often with the help of Chinese enterprises and local government. The resilience of North Korea's integration into apparel production networks follows a capitalist logic and is result of the highly profitable nature of apparel production for all actors concerned and a correspondingly strong desire to evade sanctions. As such, the analysis contributes to the literature on sanctions that suggests that the measures may contribute to emergence of growing informal and illicit practices and to the role of the clandestine economy.

• 한국노년학
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• v.40 no.3
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• pp.485-509
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• 2020

This study reviews empirical studies that investigated the impact of marketization of long-term care services on quality of care in Korea, England, Sweden, United States, and Japan. The trend and characteristics of marketization and regulatory system in those countries were compared. Since 2008 when long-term care insurance was introduced in Korea, we selected and reviewed empirical studies which were listed in the National Research Foundation, PubMed and Web of Science and examined the relationship between marketization and quality of care. Seven Korean, three English, two Swedish, seven American studies and one Japan study were identified and there was little evidence supporting that marketization would lead to better quality of care. Specifically, competition had no consistent relationship with quality of care while there was little evidence supporting that for-profit nursing homes tended to exhibit greater quality of care compared to non-for-profit nursing homes. The chains of for-profit nursing homes were revealed to have greater deficiencies. The findings of this review imply that improvement of quality of care may not be achieved by making for-profit nursing homes have chains. Reconstruction of nursing home markets should be needed, and the number and the proportion of public and non-for-profit nursing homes should be increased.

• Journal of East Asia Management
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• v.4 no.1
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• pp.23-51
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• 2023

We investigate whether the association between management overconfident tone and the level of audit effort measured by audit fees and hours differs depending on the level of earnings management. Prior studies suggest that firms led by overconfident managers are likely to initiate risky investments, report low quality financial statements, and have material weaknesses in internal control system. These characteristics, combined together, result in higher audit risk. At the same time, auditors assess audit risk based on the quality of financial reporting, measured by level of earnings management. As a result, the assess audit risk is likely to reflect the combined effect of management overconfidence and the level of earnings management. In this paper, we investigate whether auditors differentiate the effects of real earnings management (REM) and accrual-based earnings management (AEM) when they assess the audit risk related management overconfident. Using the CEO's letter published in 2018, we measure the CEO's tone representing the degree of overconfidence (i.e., activity). Based on this measure, we find that the positive association between managerial overconfident tone and audit effort is more pronounced as the level of REM is higher. However, we find that the baseline association does not vary depending on the level of AEM. These results suggest that auditors consider the managerial overconfident severer when such characteristic accompany the higher level of REM, which can be outcome of aggressive business decisions possibly leading to the higher audit risks. We further find that these results are stronger for Big 4 auditors and continuing auditors. This paper contributes to the literature and practice as follows. First, we provide contextual evidence on how auditors reflect managerial characteristics in the audit process by documenting that auditors actively increase their audit efforts only when overconfident managerial characteristics are highly likely to lead to audit risk. This result suggests that auditors conduct external auditing considering both the efficiency and effectiveness of the audit process. Second, we suggest that auditors use information obtained from a wide range of sources to identify audit risks. Our results provide evidence of how the auditing standards, which do not provide detailed guidelines for audit risk assessment, are being applied in practice. Finally, our results also enhance the understanding of how audit fees are determined. Combined with the studies related to audit pricing, we provide the important reference for discussion between the auditor and the auditee about the audit fee that has created acute tension after the enforcement of the new External Audit Act.

• Journal of Korea Trade
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• v.26 no.5
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• pp.23-38
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• 2022

Purpose - This research intends to find out whether R&D cost stickiness shows differentiated aspects depending on exports in Korea. A cost behavior that indicates a lower rate of costs decrease when sales decrease than the rate of costs increase when sales increase is called cost stickiness. This sticky cost behavior is caused by considering the adjusting costs. This study aims to empirically verify that R&D cost stickiness is greater in export firms than in non-export firms. We also investigate the effect of exports on R&D cost stickiness is nonlinear. Design/methodology - We obtain data for the analysis from Kis-Value and TS2000 from 2012 to 2020. This study tests for R&D cost stickiness of exports using the cost stickiness model developed by Anderson et al. (2003) that is used in a lot of prior literature. To explore the nonlinear behavior of R&D cost stickiness we include a quadratic term of exports in our model. Findings - The results of our analysis are as follows. First, we observed that R&D costs of export firms are more sticky than that of non-export firms. Our result indicated that export firms are less likely to reduce R&D costs in decreasing sales periods in preparation for future sales recovery. Second, our empirical evidence shows that export firms view R&D costs much favorably. However, we hypothesize that the effect of export intensity on R&D costs may not necessarily be linear. Our result shows the effect of exports intensity on R&D stickiness is thus nonlinear, forming a reverse U-shaped curve. When export intensity exceeds a certain threshold, the growth rate of R&D costs appears to be viewed negatively. Firms with relatively high export intensity do not support R&D costs, viewing them as taking away firms' resources from other more productive costs. On the contrary, those with export intensity under the threshold view R&D costs as beneficial and therefore promote further R&D costs when revenue decreases. Originality/value - The results of this research can contribute academically to the expansion of empirical research on R&D cost stickiness. R&D cost stickiness varies by industry. As a result of our research, the managers of export firms recognize the importance of R&D to lead innovation. We expected that this research contributes to further studies on R&D costs and cost stickiness. Second, this research has implications from a business perspectives. Our findings of export firms' R&D stickiness suggest that export firms' managers should consider keeping the stickiness of R&D when revenue decreases because it is essential for exporting firms to maintain their R&D stickiness to secure long-term competitiveness. R&D stickiness can be used on a practical basis to emphasize the need for continuous investment in exporting firms' R&D activities.

• Asia Marketing Journal
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• v.15 no.3
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• pp.53-77
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• 2013

As advertising and promotions are categorized as operating expenses, managers tend to reduce marketing budget to improve their short term profitability. Gauging the value and accountability of marketing spending is therefore considered as a major research priority in marketing. To respond this call, recent studies have documented that financial market reacts positively to a firm's marketing activity or marketing related outcomes such as brand equity and customer satisfaction. However, prior studies focus on the relation of marketing variable and financial market variables. This study suggests a channel about how marketing activity increases firm valuation. Specifically, we propose that a firm's marketing activity increases the level of the firm's product market information and thereby the dispersion in financial analysts' earnings forecasts decreases. With less uncertainty about the firm's future prospect, the firm's managers and shareholders have less information asymmetry, which reduces the firm's cost of capital and thereby increases the valuation of the firm. To our knowledge, this is the first paper to examine how informational benefits can mediate the effect of marketing activity on firm value. To test whether marketing activity contributes to increase in firm value by mitigating information asymmetry, this study employs a longitudinal data which contains 12,824 firm-year observations with 2,337 distinct firms from 1981 to 2006. Firm value is measured by Tobin's Q and one-year-ahead buy-and-hold abnormal return (BHAR). Following prior literature, dispersion in analysts' earnings forecasts is used as a proxy for the information gap between management and shareholders. For model specification, to identify mediating effect, the three-step regression approach is adopted. All models are estimated using Markov chain Monte Carlo (MCMC) methods to test the statistical significance of the mediating effect. The analysis shows that marketing intensity has a significant negative relationship with dispersion in analysts' earnings forecasts. After including the mediator variable about analyst dispersion, the effect of marketing intensity on firm value drops from 1.199 (p < .01) to 1.130 (p < .01) in Tobin's Q model and the same effect drops from .192 (p < .01) to .188 (p < .01) in BHAR model. The results suggest that analysts' forecast dispersion partially accounts for the positive effect of marketing on firm valuation. Additionally, the same analysis was conducted with an alternative dependent variable (forecast accuracy) and a marketing metric (advertising intensity). The analysis supports the robustness of the main results. In sum, the results provide empirical evidence that marketing activity can increase shareholder value by mitigating problem of information asymmetry in the capital market. The findings have important implications for managers. First, managers should be cognizant of the role of marketing activity in providing information to the financial market as well as to the consumer market. Thus, managers should take into account investors' reaction when they design marketing communication messages for reducing the cost of capital. Second, this study shows a channel on how marketing creates shareholder value and highlights the accountability of marketing. In addition to the direct impact of marketing on firm value, an indirect channel by reducing information asymmetry should be considered. Potentially, marketing managers can justify their spending from the perspective of increasing long-term shareholder value.

• Restorative Dentistry and Endodontics
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• v.47 no.4
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• pp.40.1-40.18
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• 2022

Objectives: This study aimed to investigate the influence of different obturation techniques compared to cold lateral compaction on the success rate of primary non-surgical endodontic treatments. Materials and Methods: Systematic searches were performed for studies published up to May 17^th, 2022 in MEDLINE/PubMed, Cochrane Library, Web of Science, Scopus, EMBASE, and Grey Literature Reports. Randomized clinical trials and nonrandomized (nonrandomized clinical trials, prospective or retrospective) studies that evaluated the success rate of primary non-surgical endodontic treatments obturated with the cold lateral compaction (control) and other obturation techniques were included. The revised Cochrane risk of bias tools for randomized trials (RoB 2) and nonrandomized studies of interventions (ROBINS-I) were used to evaluate the risk of bias. The Grading of Recommendations Assessment, Development, and Evaluation (GRADE) tool was used to evaluate the certainty of evidence. Results: Eleven studies (4 randomized clinical trials (RCTs), 4 prospective, and 3 retrospectives) were included. Two RCTs were classified as having some concerns risk of bias and 2 as a low risk of bias. Two nonrandomized studies were classified as having a critical risk of bias and 5 as having a moderate risk of bias. The GRADE analysis demonstrated a very low to moderate certainty of evidence. Conclusions: This systematic review generally evidenced no differences in the success rate of primary non-surgical endodontic treatments when the cold lateral compaction technique and other obturation techniques are performed. Further well-designed studies are still necessary.

• Quality Improvement in Health Care
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• v.3 no.2
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• pp.36-51
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• 1997

Background : Clinical practice guidelines define "systematically developed statements to assist practitioner and patient decisions about appropriate health care for specific clinical circumstances" and help to improve patient care. The purpose of this study is to develop a clinical practice guideline for the most effective diagnoses and treatments of benign prostatic hyperplasia based on patient preference and clinical need. Methods : For this research project, extensive literature searches (208 articles) were conducted. As well, critical reviews and syntheses (meta-analysis) were used to evaluate empirical evidence and significant outcomes of the BPH literature. Questionnaires about clinical practice for BPH patients were distributed and consensus meetings were undertaken to grasp variations in clinical practice and to reach agreement on the guideline's development. The guideline was promoted under the sponsorship of the Korean Medical Association and the Korean urological Cancer. Society. For the task, the Benign Prostatic Hyperplasia Guideline Panel was composed of multidisciplinary experts in the field. Results : BPH is a disease that affects a patient's quality of life. This Clinical Practice Guideline was developed for the typical man over age 50 with symptoms of prostatism, but with no significant medical morbidities such as diabetes or other known causes of voiding dysfunction, such as urethral stricture or neurogenic bladder. The guidelines detail the relative benefits and obstacles associated with all diagnostic and treatment approaches, including watchful waiting. Conclusion : This guideline provides a cornerstone for our medical association. It represents the most current scientific knowledge regarding the development, diagnosis, and treatment of BPH. It will be revised and updated as needed.

• Asian Pacific Journal of Cancer Prevention
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• v.16 no.5
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• pp.1803-1811
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• 2015

Hepatoma-derived growth factor (HDGF) is a novel jack-of-all-trades in cancer. Here we quantify the prognostic impact of this biomarker and assess how consistent is its expression in solid tumors. A comprehensive search strategy was used to search relevant literature updated on October 3, 2014 in PubMed, EMBASE and WEB of Science. Correlations between HDGF expression and clinicopathological features or cancer prognosis was analyzed. All pooled HRs or ORs were derived from random-effects models. Twenty-six studies, primarily in Eastern Asia, covering 2,803 patients were included in the analysis, all of them published during the past decade. We found that HDGF overexpression was significantly associated with overall survival (OS) ($HR_{OS}=2.35$, 95%CI=2.04-2.71, p<0.001) and disease free survival (DFS) ($HR_{DFS}=2.25$, 95%CI =1.81-2.79, p<0.001) in solid tumors, especially in non-small cell lung cancer, hepatocellular carcinoma and cholangiocarcinoma (CCA). Moreover, multivariate survival analysis showed that HDGF overexpression was an independent predictor of poor prognosis ($HR_{OS}=2.41$, 95%CI: 2.02-2.81, p<0.001; $HR_{DFS}=2.39$, 95%CI: 1.77-3.24, p<0.001). In addition, HDGF overexpression was significantly associated with tumor category (T3-4 versus T1-2, OR=2.12, 95%CI: 1.17-3.83, p=0.013) and lymph node status (N+ versus N-, OR=2.37, 95%CI: 1.31-4.29, p=0.03) in CCA. This study provides a comprehensive examination of the literature available on the association of HDGF overexpression with OS, DFS and some clinicopathological features in solid tumors. Meta-analysis results provide evidence that HDGF may be a new indicator of poor cancer prognosis. Considering the limitations of the eligible studies, other large-scale prospective trials must be conducted to clarify the prognostic value of HDGF in predicting cancer survival.

• Korean Journal of Cognitive Science
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• v.26 no.4
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• pp.393-433
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• 2015

Creativity refers to the ability to generate novel and useful ideas. Understanding the mechanism of creativity and its enhancement is important in order to solve major problems of the modern society and to improve the wellness of mankind. Creativity is a highly heterogeneous and complex ability which should not be conceptualized as a single entity. Thus, the current literature on creativity is based on a component process approach to creativity. The present study introduces cognitive neuroscience research studying the mechanism of divergent thinking, insight, relational thinking and artistic creativity which are the major components of creativity. Based on an expansive review, the early hypothesis of hemispheric asymmetry emphasizing the importance of the right as opposed to the left hemisphere is not supported by scientific evidence. In addition, there is no consensus or consistency on which specific brain region is related to a certain component of creativity. In fact, there is a mixture of studies reporting involvement of various brain regions across all four lobes of the brain. This inconsistency in the literature most likely reflects heterogeneity of the component processes of creativity and sensitivity of the neural response to differences across tasks and cognitive strategy. The present study introduces examples of representative studies reporting seminal findings on the neural basis and the enhancement of creativity based on innovative methodology. In addition, we discuss limitations of the current cognitive neuroscience approach to creativity and present directions for future research.

• Journal of Korean Medical classics
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• v.29 no.1
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• pp.17-41
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• 2016

Subjects : A literature research on the constitution and medicinal effect & adaptation diseases of "Bullsusan". "Bullsusan" is a herbal prescription composed of Angelicae Gigantis Radix(當歸) and Cnidii Rhizoma(川芎). Objectives : Through the researching on the records of "Bullsusan" in Korean Traditional Medical Books, gain the literature evidence for adaptation to these days child labor as a pre-labor keeping herbal medicine. And have detailed consideration on the constitution of prescription and medicinal effect & adaptation diseases of "Bullsusan". Methods : First, researched the records of "Bullsusan" in Korean Traditional Medical Books which were included at A Series of Korean Medicine(韓國醫學大系) and analysed component ratio, nickname, herbal manufacture and drug processing method, medicinal effect and adaptation diseases. Second, referred related Korean and Chinese researches that examined the medicinal effect and adaptation diseases of "Bullsusan" by scientific experimentation. Conclusions : We found total 46 records of "Bullsusan" from 20 kinds of Korean Traditional Medical Books included at A Series of Korean Medicine. Prescription component ratio of Angelicae Gigantis Radix and Cnidii Rhizoma were 3:2, 1:1, 2:1, 1:1. 3:2 had most 20 records and 1:1 had second 14 records. Especially 1:1 had a tendency of having nickname "Goonguitang", but not must had. First herbal manufacture was powder, it had 8 records. First drug processing method was decocting with water and alcohol, had 19 records. Medical Effects of "Bullsusan" can be induced to next 8, that were "remove get bad blood, give birth new blood", "easy labor by reducing fetal volume", "acceleration of labor", "test of fetal survival, elimination of dead embryo", "elimination of placenta", "revive", "allaying pain", "nourish the blood". From these medical effects, 9 adaptation diseases can be induced. That were "threatened abortion", "womb ache and vaginal bleeding by spontaneous abortion", "pre-labor keeping(prevention of hard labor)", "acceleration of labor", "hard labor", "missed abortion", "postnatal vaginal bleeding, dizziness, asthma, headache, womb ache", "postnatal mastoptosis and mastodynia", "first aid symptom like as dizziness, unconsciousness, stroke caused by excessive bleeding". The medical effect of "acceleration of labor" and "elimination of placenta" have been examined by modern clinical research. The effect of "remove get bad blood, give birth new blood", "allaying pain" and "nourish the blood" have been examined by modern experimental study. But overdosing on "Bullsusan" to pregnant mouse can cause natural abortion, so the proper dose of "Bullsusan" in pregnant period is very important.