• 유통과학연구
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• 제19권1호
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• pp.27-35
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• 2021

Purpose: This study is to investigate the effect of managerial ownership level in distribution and service companies on the stock price crash. The managerial ownership level affects the firm's information disclosure policy. If managers conceal or withholds business-related unfavorable factors over a long period, the firm's stock price is likely to plummet. In a similar vein, management's equity affects information opacity, and information asymmetry affects stock price collapse. Research design, data, and methodology: A regression analysis is conducted using the data on companies listed on the Korea Composite Stock Price Index (KOSPI) between 2012-2017 to examine the effect of the managerial ownership level on stock price crash risks. Results: Logistic and regression results indicate that the stock price crash risk was reduced as managerial ownership levels are increased. The managerial ownership level has a significant negative coefficient on stock price crash risk, negative conditional return skewness of firm-specific weekly return distribution, and asymmetric volatility between positive and negative price-to-earnings ratios. Conclusions: As the ownership and management align, the likeliness of withholding business-related information is reduced. This study's results imply that the stock price crash risk reduces as the managerial ownership level increases because shareholder and manager interests coincide, thereby reducing information asymmetry.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.105-112
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• 2021

This study aims to find empirical evidence of the effect of increasing income on the potential transfer of wealth from manufacturing companies that go public to stakeholders. Earnings management with an accrual approach with the Modified Jones model is an identifier of the availability of earnings management practices, without paying attention to both positive and negative symbols. The interpretation of the results of the discretionary accrual measurement between positive and negative symbols has different meanings. Positive discretionary accruals indicate that management uses income-increasing techniques. Meanwhile, negative discretionary accruals indicate that management uses income-reducing techniques. Income-increasing techniques tend to be viewed as opportunistic behavior of managers. This study used 111 data from manufacturing companies listed on the IDX (Indonesia Stock Exchange) from 2015-2018. Path analysis is used to test the hypothesis. The results of this study are in line with the point of view of management strategy, increasing income is used as a way to transfer potential welfare from the company to stakeholders. Social welfare (tax) and managerial remuneration are proven to be mediators in increasing the effect of increasing income on future company value. Further research can complete the potential welfare transfer against the shareholders related to income-increasing strategy.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.751-762
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• 2021

This study aims to examine whether an increased disclosure has a positive impact on firm performance and whether the opposite impact of increased disclosure on firm performance can occur in certain conditions - high proprietary information and competition. The sample for this study consists of Indonesian firms listed on the Indonesia Stock Exchange (IDX). The data were selected based on purposive sampling and panel data spanned eleven years (2006-2016). A panel GLS regression using moderated regression analysis (MRA) was adopted. The results of this study reveal that an increased disclosure has a positive effect on firm performance, but an increased disclosure has a negative impact on firm performance when proprietary information is high, and vice versa. Also, if the disclosure is increased, the negative impact of proprietary information on firm performance will get exacerbated in conditions where the competition level is high. The findings of this study suggest that, since the positive effect of continuously-increased disclosure on firm performance leads to the reversal (negative) impact when certain conditions occur (high proprietary information and competition), the level of disclosure quality is most likely to tap an 'optimal' point. In this regard, however, a broader investigation of all firms across countries still needs to be conducted.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.39-47
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• 2021

This research aims to confirm if the COVID-19 pandemic has had an impact on existing sectors, and how that affects the Indonesian Stock Exchange (IDX) market returns. The research method used is an event study employing market models in nine sectors of the Exchange with purposive sampling technique, and supported by Ordinary Least Square (OLS) regression. Based on the calculation of abnormal returns in the period of 30 days before up to 30 days after, the financial property, real estate, and construction sector results show a decreased abnormal return value. The infrastructure, utilities, and transportation sectors also show an abnormal return value that tends to be constant, while the abnormal return value increases in other sectors. Judging from the cumulative value of abnormal returns, the most affected sector is financials, followed by the trade, service, and investment sectors. The consumer goods and mining industry sectors are still optimistic, while other sectors show temporary negative sentiment. Overall, the stocks on the Indonesia Stock Exchange (IDX) were affected by the COVID-19 pandemic with a cumulative negative value of the average abnormal return sample. The results using OLS regression also strengthen the relationships between the COVID-19 pandemic, and negative and significant market returns.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.31-42
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• 2021

This study aims to determine the relation between the real sector and the financial sector in underdeveloped areas in Nusa Tenggara, Indonesia. To facilitate understanding of these linkages, researchers use the logic of credit channel mechanism of monetary policy, financial intermediation, as well as supply leading and demand following theories. The research variables include economic growth, inflation, liquidity, and NPL at the provincial level, with a data sample from 2008 to 2019. This research uses VAR/VECM as the analysis tools. The findings of the long-term analysis in East Nusa Tenggara show there is a phenomenon of cost-push inflation as well as the negative relation between inflation and economic growth. The impact of liquidity on inflation is positive, while the impact of economic growth on inflation is negative. Meanwhile, in West Nusa Tenggara, the impact of economic growth on inflation is positive. On the other hand, the impact of liquidity and NPL on inflation and economic growth is negative. In conclusion, generally, the economy in West Nusa Tenggara is better than the East Nusa Tenggara. The key to improving the economy of Nusa Tenggara is by improving its liquidity. This can be done by increasing the volume of public savings to increase bank credit capacity.

• PNF and Movement
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• 제9권4호
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• pp.23-31
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• 2011

Purpose : The aim of this study was to investigate the correlations between body compositions and bone mineral density in young women and postmenopausal women with low bone mineral density. Methods : Eleven young women (age, $25.85{\pm}1.96yrs$; height, $160.28{\pm}2.16cm$; weight, $56.89{\pm}9.66kg$) and ten postmenopausal women (age, $25.85{\pm}1.96yrs$; height, $160.28{\pm}2.16cm$; weight, $56.89{\pm}9.66kg$) with low bone density on femur neck were participated in this study. All subjects performed the measure of body composition and BMD on lumbar body and femur neck. Results : The results were as follows. Percent body fat, waist-hip ratio and body mass index(BMI) were significantly increased in postmenopausal women. BMD in lumbar body and femur neck were significantly decreased in postmenopausal women. There were negative strong correlation between BMD of the femur and age in young women. There were negative strong correlation between BMD of the femur and age or the years of menopause in postmenopausal women. There were positive strong correlation between BMD of the femur and BMD of lumbar body. Conclusion : Percent body fat and BMI were more increased in young women than in postmenopausal women. And there were negative strong correlation between BMD and age or the years of menopause in postmenopausal women.

• 식품보건융합연구
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• 제7권2호
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• pp.25-35
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• 2021

The purpose of study is to study the influence of elderly's family harmony reflects on suicidal tendency among the mental health. The study was a survey of 323 elderly people aged 65 years or older in the elderly welfare center located in S city. The variables of this study consisted of the independent variable emotional intelligence, the dependent variable suicide tendency and the mediating effect family harmony. As a result of the study. In the mediating effect of family harmony on the influence of emotional intelligence on suicidal thoughts, it was found that emotional intelligence had a positive (+) effect on family harmony (t=9.389, p<0.001), and emotional intelligence was related to suicidal thought It was found to have a negative (-) effect (t=-7.358, p<0.001). The mediating effect, family harmony, had negative (-) influence on suicidal thoughts (t=-3.956, p<0.001), and emotional intelligence also showed that suicidal thoughts had negative (-) influence (t=-4.828, p<0.001). In Conclusions, it was found that family harmony had a partial mediating effect on the influence of emotional intelligence on suicidal thoughts. Emotional intelligence, which can accept one's own emotions and feel the emotions of others in the position of others, is an important variable for family harmony.

• 유통과학연구
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• 제19권4호
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• pp.25-35
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• 2021

Purpose: This study aims to analyze the factors affecting customer satisfaction in the customer reviews of omni-channel, posted on Internet blogs, cafes, and YouTube using text mining analysis. Research, data, and Methodology: In this study, frequency analysis is performed and the LDA (Latent Dirichlet Allocation) is used to analyze social big data to respond to reviewers' reaction to the recently opened omni-channel shopping reviews by L Shopping Company. Additionally, based on the topic analysis, we conduct a sentiment analysis on purchase reviews and analyze the characteristics of each topic on the positive or negative sentiments of omni-channel app users. Results: As a result of a topic analysis, four main topics are derived: delivery and events, economic value, recommendations and convenience, and product quality and brand awareness. The emotional analysis reveals that the reviewers have many positive evaluations for price policy and product promotion, but negative evaluations for app use, delivery, and product quality. Conclusions: Retailers can establish customized marketing strategies by identifying the customer's major interests through text mining analysis. Additionally, the analysis of sentiment by subject becomes an important indicator for developing products and services that customers want by identifying areas that satisfy customers and areas that evoke negative reactions.

• 한국정보시스템학회지:정보시스템연구
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• 제31권3호
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• pp.67-87
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• 2022

Purpose This study quantified companies' views on the COVID-19 pandemic with sentiment analysis of U.S. public companies' disclosures. It aims to provide timely insights to shareholders, investors, and consumers by analyzing and visualizing sentiment changes over time as well as similarities and differences by industry. Design/methodology/approach From more than fifty thousand Form 10-K and Form 10-Q published between 2020 and 2021, we extracted over one million texts related to the COVID-19 pandemic. Using the FinBERT language model fine-tuned in the finance domain, we conducted sentiment analysis of the texts, and we quantified and classified the data into positive, negative, and neutral. In addition, we illustrated the analysis results using various visualization techniques for easy understanding of information. Findings The analysis results indicated that U.S. public companies' overall sentiment changed over time as the COVID-19 pandemic progressed. Positive sentiment gradually increased, and negative sentiment tended to decrease over time, but there was no trend in neutral sentiment. When comparing sentiment by industry, the pattern of changes in the amount of positive and negative sentiment and time-series changes were similar in all industries, but differences among industries were shown in neutral sentiment.

• 한국산업보건학회지
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• 제31권1호
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• pp.50-59
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• 2021

Objectives: The aim of this study was to examine factors influencing depressive symptoms among married working women using the dataset of the Korean Longitudinal Survey of Women and Family (KLoWF 7th). There were 1,030 subjects. Methods: A multiple regression model was used to study the factors influencing depressive symptoms among married working women. Results: The authors found a negative relationship between satisfaction with spouse household-labor (b=-0.606, p=0.022) and depressive symptoms among married working women, a negative relationship with spouse (b=-0.237, p<0.001) and a negative spousal perception of working (b=-0.709, p=0.045), a positive relationship with excessive working hours (b=0.397, p=0.027), a positive relationship with temporal oppression on workload (b=0.422, p=0.002), and a positive relationship between workplace discrimination (b=0.053, p=0.046) and depressive symptoms among married working women. Conclusions: This study suggests that family life and working environments are important factors for depressive symptoms in married women workers. The findings of this study will be helpful to policymakers to design plans to decrease depressive symptoms among married working women.