• 융합경영연구
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• 제11권2호
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.

• 지식경영연구
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• 제22권1호
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• pp.309-330
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• 2021

정보보호 공시제도는 이해관계자 보호 및 알권리를 보장하고, 기업의 자발적인 정보보호 투자를 촉진하기 위하여 2016년부터 시행된 제도이다. 정보보호 공시제도(ISDS)에 대해서는 해당 제도의 시행을 촉구하는 연구들이 있었으나, 제도 시행 후에 공시된 내용을 분석하거나 개선방향을 제시하는 연구는 부족한 편이다. 본 연구에서는 정보보호 산업진흥포털에 2020년까지 공시되었던 정보보호공시의 내용을 분석하여 그 현황을 정리하고, 제도의 개선방향을 제시하였다. 공시제도를 통해 정보보호 관련 정보를 공개한 기업들에서 전담인력을 늘리는 경우가 있었으며, 정보보호 관련 인증을 취득하기도 했음을 알 수 있었지만, 투자의 증/감에는 영향을 발견하지 못했다. 현재의 공시제도는 개별 기업들이 공시를 해야하는 유인을 주는 데 어려움을 가지고 있기 때문에 활성화되지 못하고 있고, 이로 인하여 제도의 취지였던 기업의 정보보호 위험을 이해관계자들에게 공개하는 것이나 기업의 정보보호 투자를 활성화하는 것을 달성하지 못하고 있다. 현재 의무화되어 활성화되고 있는 정보보호 관리체계 인증제도(ISMS)에 포함하여 활성화하는 방안을 제시하였으며, 현재의 공시제도에서 기업의 이해관계자나 고객이 공시의 내용을 확인하는 것이 어렵기 때문에 이를 보다 인지하기 쉽도록 하는 방안으로 개인정보 처리방침 또는 개인정보 이용내역 통지의 내용에 포함하는 방법을 제시하였다.

• 정보교육학회논문지
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• 제1권2호
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• pp.57-66
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• 1997

The primary purpose of security mechanisms in a computer systems is to control the access to information. There are two types of access control mechanisms to be used typically. One is discretionary access control(DAC) and another is mandatory access control(MAC). In this study an access control mechanism is introduced for secure access path in security system. The security policy of this access control is that no disclosure of information and no unauthorized modification of information. To make this access control correspond to security policy, we introduce three properties; read, write and create.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.91-101
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• 2019

This paper finds some stylized facts about executive pay in South Korea. Using aggregate data of the listed companies since 2002, we find that 1) the director's remuneration has risen faster than the employee compensation, thus, the pay ratio of executive and employee has escalated from 3.0 to 4.5; 2) the executive compensation for large business group fluctuates more widely than that for small and medium enterprises does, hence the pay ratio for large firms changes widely too; 3) the median pay ratio has not grown monotonically but it rather rises to remain still around year 2011, which is accounted for mostly by small and medium enterprises. New information on executive compensation by compulsory disclosure starting from 2013 made further analysis of CEO compensation attainable. Based on the conventional regression analysis for 2013-2017, we find that 1) the elasticity of CEO pay with respect to firm value is about 0.18; 2) the volatility of stock return is negatively related to CEO pay; 3) contemporaneous stock return is positively associated with the pay; 4) there is insufficient evidence that large business groups pay their CEOs more than small and medium enterprises do. These results are robust under various model specifications.

• Architectural research
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• 제16권4호
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• pp.139-147
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• 2014

The purpose of this study is to explore institutional frameworks to professionalize housing management in Korea. In particular, this research reviews the evolution of professional housing management and its institutional measures in a social constructionist perspective. The main method employed in the study is content analysis in which historical pathways in institutionalization of professional housing management are examined and a wide array of indices from secondary data are drawn out in relation to various actors. The findings show that a series of institutional measures were taken from 1970s to secure the professionalization of housing management ranging from introduction of housing management bylaws, placement of licensed housing managers, legal requirements of professionally managed housing estates, compulsory operation of long-term reserve funds, formation of residents' association, mandatory establishment of long-range maintenance planning, to standardization of multifamily housing management bylaws. Since the Multifamily Housing Management Ordinance of 1979 amended in 1980s, many institutional measures have been legally enforced and shaped contemporary practices of professional housing management such as an association for housing management companies, qualification of on-site housing management agents, national licensing examination for housing managers, an organization for licensed housing mangers, mandatory registration of housing management companies, disclosure of monthly housing management fees, and formalization of public assessment of housing management. In spite of the distinctive marks in the professionalization of housing management, more proactive and competitive approaches to the international professionalization need to be considered.

• The Journal of Asian Finance, Economics and Business
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• 제10권2호
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• pp.153-161
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• 2023

This study's principal goal is to find the interrelation between transparency & disclosure (TD) and the healthcare sector's firm valuation (FV). The paper uses the market-to-book (MTB) ratio and market capitalization as proxies, where sales measure act as a control variable. Dynamic panel data regression (PD) is the method applied for analyzing data. Data pertains to 10 healthcare companies gathered over five years (2016-2020). Results imply that TD has a negative and significant influence on the FV, where market capitalization acts as a proxy for valuation. This association indicates that a greater degree of TD diminishes FV. TD is also reported to have a negative and insignificant association with MTB. Therefore, TD does not influence FV. The findings of this paper have significant practical implications. Results can help policymakers determine mandatory disclosure levels that are not detrimental to the healthcare sector. Managers and analysts must also analyze the dimensions of disclosure that can negatively impact the firm's valuation and make decisions regarding TD accordingly. This is the first study to assess the influence of TD on the FV of the Indian healthcare sector, which makes it unique. This study is limited to the healthcare sector, which is its shortcoming.

• 벤처창업연구
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• 제7권2호
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• pp.113-127
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• 2012

IFRS에 따른 재무제표 작성은 연결재무제표의 주재무제표화, 원칙중심의 회계처리기준 등으로 인해 재무제표 본문의 간략화 및 다양화, 상세내역 및 비재무사항 주석기재 요구량 증대 등 공시 전반에 걸친 중요성이 높아지고 있다. 한편 K-IFRS체제하의 적정공시 방향에 대한 기존의 연구와 검토들은 IFRS 전면도입의 당위론적 배경과 제도변화 초기상황이라는 시기적 요인에 따라 기준제정기구나 감독기관 중심으로 공시요구사항 증대나 정보의 완전성(completeness) 측면에 초점을 두고 전개되어 온 것이 사실이다. 이에, 본 연구는 기존의 접근에 더하여 보고기업 및 정보이용자의 관점에서 보다 균형적인 IFRS 적용에 따른 적정공시 방향성을 도출하고자 하였다. 먼저 주요기업 재무공시 실태 검토 결과, 2010년, 2011년 재무공시에서 다수의 미준수사항 또는 권고할 사항이 지적되었다. 이러한 원인으로는 IFRS 기준의 성격에 따른 문제, 업종별 기업별 특성에 따른 문제, IFRS 도입비용 및 촉박한 공시기한 등 공시기업의 부담 측면이 지적될 수 있으며, 이는 정보이용자 입장에서의 이해가능성 및 활용도, 비교가능성 저하를 일으키는 것으로 나타났다. 이러한 실태의 개선을 위해, 제도의 완화/지원 측면에서 적용대상 기업의 추가 세분화 필요성 검토, 주석공시 내용과 범위 조정, 공시시기 조정 및 다원화, 공시환경 및 인센티브 지원 방안이 제안되었으며, 공시요구 강화 측면에서 기업, 정보이용자 참여비중 확대를 반영한 K-IFRS 제정체계 개선과 표준화된 세부양식 정의 및 적용의무화 필요성이 제시되었다.

• 정보보호학회논문지
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• 제10권3호
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• pp.49-62
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• 2000

Role-Based Access Control(RBAC) has recently received considerable attention as a alternative to traditional discretionary and mandatory access control to apply variant organizations function hierarchy of commercial or govemment. Also RBAC provides a delegation that is one of control principles in organization. In general delegation occurring in real organization is performed by an user giving permissions to another user. But, RBAC cannot implement these user-level delegation correctly. And delegation result in security problem such as destroying separation of duty policy information disclosure due to inappro-priate delegation. Besides security adminsitrator directly deals with that problem. In this thesis we suggests some methods that is created by the user.

• 토지주택연구
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• 제11권4호
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• pp.51-65
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• 2020

The purpose of this study was to identify the problems related to the amendment and preservation of the lien system and to suggest a feasible and efficient improvement plan. The Analytic Hierarchy Process (AHP) and descriptive statistical analyses were used in this study. The survey subjects were divided into three groups based on their expertise: "Administrative Experts, Practical Experts, and Financial Institution Experts" and compared to find the results. The results show that 1) the procedural aspect was the most important for the large classification, 2) the supplementary disclosure system was the most important for the legislative aspect, and 3) the supplementation of the abuse of the lien report was the most important for the intermediate classification. Furthermore, the study showed that the most important finding was the reinforcement of punishment for the right of false reporting and illegal acts, followed by the registration order system (the creditor alone application), and the registration system (bond, debtor, joint application). The implications and suggestions of this study are as followed. With regard to the current lien system, illegal acts such as false liens and the misuse of multiple reporting were considered as the biggest problems. In terms of the effective improvement plan of the lien system, the misuse of reporting liens and improvement in the procedural aspects of reporting rights should be given top priority. Therefore, the most important course of action is to strengthen the punishment for false liens, improve the disclosure system and make it mandatory to report rights.

• 한국식생활문화학회지
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• 제32권1호
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• pp.39-51
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• 2017

The purpose of this study was to analyze the current status relating to food packaging and design for status of small and medium food enterprises. A company survey was conducted from June to October, 2015 and targeted 1300 small and medium domestic food enterprises. Finally, a total of 1300 (recovery rate 100%) useable data were selected. Statistical analyses were performed on the data utilizing the SPSS PASW Statistics 18.0 for Windows, such as descriptive statistics and frequency analysis. According to the results, awareness and importance of food labeling were high, but performance of English inscription of product name was relatively low. The most important reason for food labeling was 'providing correct information on food' 910 (72.8%). Accordingly, a system which can provide the latest information by continuously monitoring mandatory disclosure requirements for types of foods in individual countries is needed.