• Asia-Pacific Journal of Business
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• v.14 no.3
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• pp.167-186
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• 2023

Purpose - The purpose of this study is to empirically investigate whether the auditor accreditation system for IPO firms improves the efficiency of the KOSDAQ IPO market. To verify the effectiveness of the auditor designation system, we time series compare four measures of IPO firms (earnings management, long-term stock performance, change in operating performance, and possibility of delisting). Design/methodology/approach - We test the hypothesis through event research method and regression analysis. Specifically, the dependent variables of the regression model are discretionary accruals in the year of IPO, 36-month holding period excess return after IPO, change in operating performance for 3 years after IPO, and dummy variable for delisting. And the explanatory variable is a dummy variable that separates the period before and after the implementation of the auditor designation system. Findings - We find that earnings management and delisting risks decreased more in the period after the implementation of the auditor accreditation system than in the previous period. In addition, we find that long-term stock performance and operating performance after IPO increase further after the implementation of the auditor accreditation system. Research implications or Originality - Overall, the results of this study suggest that the implementation of the auditor accreditation system for IPO firms contributes to improving market efficiency in the KOSDAQ market, where information asymmetry is high. Our study differs from previous studies in that it demonstrates the effectiveness of the auditor designation system using various measures.

• Journal of Digital Convergence
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• v.15 no.4
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• pp.259-266
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• 2017

The massive traffic interferences in the wireless home IoT provides the reason for packet losses, and it degrades the QoS (Quality of Service) and throughput on the home network. This paper propose a new adaptive traffic interference control system, ATICS, for enhancing QoS and throughput for IoT services as detecting a traffic process and non-traffic process in the wireless home network. The proposed system control the traffic interferences as distinguishing the short-term traffic process and long-term traffic process by traffic characteristics in wireless home networks. The simulation results shows that the proposed scheme have more efficient traffic control performance than the other schemes.

• The Journal of the Acoustical Society of Korea
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• v.39 no.2
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• pp.137-142
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• 2020

Many studies based on I-vector have been conducted in a variety of environments, from text-dependent short-utterance to text-independent long-utterance. In this paper, we propose a speaker verification system employing a combination of I-vector with Probabilistic Linear Discriminant Analysis (PLDA) and speaker embedding of Long Short Term Memory (LSTM) with attention mechanism in far-field and noisy environments. The LSTM model's Equal Error Rate (EER) is 15.52 % and the Attention-LSTM model is 8.46 %, improving by 7.06 %. We show that the proposed method solves the problem of the existing extraction process which defines embedding as a heuristic. The EER of the I-vector/PLDA without combining is 6.18 % that shows the best performance. And combined with attention-LSTM based embedding is 2.57 % that is 3.61 % less than the baseline system, and which improves performance by 58.41 %.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.42 no.2
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• pp.78-85
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• 2019

High variance observed in the measurement system can cause high process variation that can affect process capability badly. Therefore, measurement system analysis is closely related to process capability analysis. Generally, the evaluation for measurement system and process variance is performed separately in the industry. That is, the measurement system analysis is implemented before process monitoring, process capability and process performance analysis even though these analyses are closely related. This paper presents the effective concurrent evaluation procedure for measurement system analysis and process capability analysis using the table that contains Process Performance (Pp), Gage Repeatability & Reproducibility (%R&R) and Number of Distinct Categories (NDC). Furthermore, the long-term process capability index (Pp), which takes into account both gage variance and process variance, is used instead of the short-term process capability (Cp) considering only process variance. The long-term capability index can reflect well the relationship between the measurement system and process capability. The quality measurement and improvement guidelines by region scale are also described in detail. In conclusion, this research proposes the procedure that can execute the measurement system analysis and process capability analysis at the same time. The proposed procedure can contribute to reduction of the measurement staff's effort and to improvement of accurate evaluation.

• New & Renewable Energy
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• v.3 no.1 s.9
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• pp.60-67
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• 2007

Catalyst coated membrane [CCM] type and catalyst coated substrate [CCS] type of membrane electrode assembly [MEA] were manufactured and evaluated their performance. Degradation test were conducted to find the difference of long term stability in two types of MEA and the factor for performance degradation problem occurred. Performance degradation test of single cell in two different types of MEA were carried out when current density was $200mA/cm^{2}$. The degradation test had proceeded for 230 hours and performance degradation was checked by I-V curve and impedance measurement at regular intervals. Also, MEA before/after operation and changes of catalyst layer were characterized by SEM, TEM, and XRD. Maximum power density of CCM type was higher than that of CCS type. Meanwhile, an increase of particle size of catalyst and an increase of impedance resistance after long term operation were observed. In the case of using CCM type MEA, the performance was deteriorated 38% of initial performance. In the case of using CCS type MEA, the performance was deteriorated 43% of initial performance. In consideration of difference of initial performance, performance of CCM type is higher than that of CCS type but both types had similar problems during degradation test.

• Korean small business review
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• v.42 no.3
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• pp.123-144
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• 2020

This study attempt to use secondary data from KIS-Value to understand how rapid globalization strategy affects BGF's performance defined five categories such as sales volume, return on investment, net profit per employee, increase in sales, and increase in net profit per employee. In particular, this research defines the BGF based on the export ratio within five years after the establishment and classifies BGF into three levels according to 25%, 50%, and 75% concentration of exports. The main results of this study were first, the rapid internationalization strategy was proven to have a sales effect in the short and long term, and in particular, the short term effect was more significantly compared to the long term effect. However, the impact on the return on investment(ROI) of BGF was found that the more stringent the BGF level, the more short-term effect on ROI, but the longer-term effect was diluted according to time. Third, the sales growth rate is significant in the short-term depending on the BGF level, but do not have long-term effects same as ROI. On the other hand, the growth rate of net profit has shown that the BGF strategy has a negative (-) effect over the long term. In particular, the higher the BGF level, the greater the negative impact on the increase in net profit.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.1
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• pp.52-63
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• 2019

Biased performance implications are common in conducting empirical analysis on leading firms in strategic management field. Venture businesses in which successful and failing firms in the future are mixed in the present could provide a better discriminative result for examining the determinants of performance. We suggest hypotheses on how competitive strategy, CEO characteristics, and their interactions affect firm performance. We examine these hypotheses through empirical analyses on the basis of a survey collected from 387 venture businesses in order to assure the validity of strategic management theories by using more deviated data. Empirical results show that innovative differentiation from competitive strategies affects firm performance and innovativeness and long-term orientation from CEO characteristics affect firm performance. According to the results of the interaction analyses between competitive strategies and CEO characteristics, cost-leadership and marketing differentiation strategies have combination effects with risk taking, innovativeness, and long-term orientation, while innovative differentiation strategy has no combination effects with risk taking, innovativeness, and long-term orientation. We conclude that cost-leadership and marketing differentiation strategies have no direct effect on firm performance but have combination effects with CEO characteristics, while innovative differentiation strategy has direct effect on firm performance but has no combination effect. Our primary contribution is that we test and confirm that the fit between competitive strategies and CEO characteristics are an important consideration to increase firm performance in venture businesses.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Proceedings of the KIEE Conference
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• 2011.07a
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• pp.1405-1405
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• 2011

Sudden earthquake is changing national energy stratagem for future energy resource. In case Germany, current nuke power station will be shut down with several decades. Newly constructed build in Japan must have photovoltaic system as a obligations.. As a long-term sustainable energy one, PV should give confidence to customers up to more than 20 years. Today, IEC 61215 and IEC 61646 standards are representative one for ensuring performance and safety of PV module. But it is still needed to develop more realistic test method. For example, if we think about extreme condition like desert and North Pole, the temperature condition describe in test standards can have little effect on life time expectation of PV module. Installation speed of PV system is very high, but establishing test standards are very complex and not easy. So in this paper, I tried to open the long-term test method for PV module to ensure 25 year's old life time. It is just starting point of PV related long-term test methods. The specific and technical explanation will be shown in the following paper in detail.

• Research in Community and Public Health Nursing
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• v.31 no.2
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• pp.130-142
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• 2020

Purpose: The purpose of this study was to verify the validity and reliability of the Korean version of the Pain in Older Adults Knowledge Survey (K-POAKS) to assess knowledge of pain in older adults including people with dementia for use in long-term care hospital nurses. Methods: Survey data were collected from a convenience sample of 179 nurses who have worked in long-term care hospitals in B, D and U cities. The Kuder-Richardson Formula 20 for internal consistency for test reliability was conducted. The content, criterion-related and construct validity were evaluated using SPSS/WIN 22.0. Results: The KR 20 was .75 and Content Validity Ratio (CVR) was a range of 0.84~1.00. The criterion-related validity was positively correlated with attitudes (r=.28, p<.001) and performance (r=.21, p=.004). The construct validity of K-POAKS was analyzed by conducting the principal component method using the exploratory factor analysis varimax rotation, and seven factors were derived above the eigenvalue of 1.0. The seven factors explained 58.5% of the total variation. Conclusion: The Korean version of the POAKS showed satisfactory internal reliability, content validity, criterion-related validity and construct validity. These results suggest that the K-POAKS could be used as a suitable tool to measure the knowledge of the aged people's pain, including that of dementia patients for long-term care hospital nurses.