• Journal of Korean Society of Industrial and Systems Engineering
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• v.21 no.46
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• pp.167-172
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• 1998

Under serious inflation, there has been a considerable gap between book value and market value. To improve this gap, asset revaluation has been implementing in Korea. This paper investigates firms' motives of asset revaluation. The result of empirical tests may be summarized as follow : The corporations listed in Korea Stock Exchange revaluate their assets in order to borrow money owing to good financial structures. Based on this result, the asset revaluation law would be necessary to review.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.52
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• pp.221-228
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• 1999

The purpose of this paper is to see whether the improvement on the financial structure through the asset revaluation is temporary or not. The financial structure of the companies which revalue the asset was improved for the revaluating year, but the financial structure worsened in the next year. Therefore, I can infer that the asset revaluation is carried out to supply their capital by enterprises.

• Journal of Digital Convergence
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• v.16 no.12
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• pp.163-173
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• 2018

This study examined the difference between the information asymmetry in pre- and post K-IFRS adoption used each samples. Efficient market assumption suggests that capital markets already have recognized real value of PP&E and applied those values for estimating the item, in which case PP&E revaluation is not additional information in the capital market but simply an activity to makes costs. This study examined whether the information asymmetry had reduced significantly after adopting K-IFRS or not, verified each period samples those are pre- and post-adopting the asset revaluation since it could have been adopted in advance from 2008. As study results, I confirmed PP&E revaluation affected to reduce the information asymmetry in pre- adopting K-IFRS, but not in post- adopting K-IFRS. These results could be one of proofs which are supported that capital market have been judging PP&E revaluation as the window dressing.

• Management & Information Systems Review
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• v.29 no.4
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• pp.1-22
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• 2010

There have been arguments in Korea that fair value accounting system improves quality of accounting information through the asset revaluation. These arguments are based on the fact that investors prefer fair value to cost value information. Others argue that cost principles may offer more proper information to the investors because financial statements applied the cost principles are more objective and thus more reliable. Prior researches focused mainly on the motives of asset revaluation but I examined the effects of the tangible asset revaluation on the stock prices. The empirical findings indicate that : (1) the gains on the tangible asset revaluation are positively correlated with the stock prices; (2) the net book values applied the cost principles explain stock prices better than the net book values applied fair values. My findings suggest that the gains on the tangible asset revaluation constitute a part of the firms' values but the accounting informations measured fair value are not always useful to the investors in the capital market.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.293-304
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• 2020

The study reveals the extent of changes in selective financial numbers caused by fixed asset revaluation (FAR) and explores whether there was a management motive for playing the financial numbers game through using the FAR model. The data set consists of a sample of 142 listed companies purposively selected from 13 industries. The study found a significant impact of FAR on the net asset value (NAV), fixed asset intensity (FAI), and debt-to-equity ratio (DER). These findings are supported by the political cost and the debt covenant hypotheses. The study also observed a high growth of fixed assets by 9.5% to 14,603.8% resulting from FAR. More revealing is that FAR increased NAV in revaluer companies by an average of 427.20% as compared to 6.86% in non-revaluer companies. Even some companies with negative NAV took resort on FAR to show positive NAV. Besides, revaluer companies managed to reduce their DER by 70.45% as opposed to an increase of 8.45% in non-revaluer companies. Hence, the study concludes that most of the publicly-listed companies are involved in financial numbers game by the use of the FAR model. To build confidence among investors, companies should practice FAR rightly and disclose related information to help reduce information asymmetry.

• International Commerce and Information Review
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• v.6 no.2
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• pp.385-400
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• 2004

China has pegged its currency to the US dollar (at RMB 8.3 to the dollar) since 1994. The yuan's dollar peg has increased demand for chinese exports, which account for about a third of gross domestic product. The peg has also helped to attract $308 billion in foreign investment. But there has been criticism that China has over the past two years been engaging in protracted, large-scale intervention in one direction in exchange markets. According to many reports, RMB is undervalued by somewhere between 15 and 30% by manipulation. China may not want to float the currency at once, since doing so would have a dramatic and negative effect on the economy. However, there has so far been strong pressure from trading partners including the Unite States, Japan, EU. Considered all these things, China may eventually allow some changes in the Yuan's value. This may come in the form of widening a band of movement for the currency, rather than letting it float freely in the market.

• Proceedings of the Costume Culture Conference
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• 1998.09a
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• pp.46-46
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• 1998

• Economic and Environmental Geology
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• v.41 no.3
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• pp.287-297
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• 2008

In order to estimate the preliminary development feasibility according to the commodity, the content of 8 strategic metallic commoditites(Pb, Zn, Cu, Fe, Mo, W, Au, U) in 68 ore specimens obtained from 34 metallic mines within the Taebaegsan-Hwanggangri mineralized zone were analyzed. Analytical results are as follows. The ore specimen of Sangdong mine contained 23% copper(cut-off grade=0.7%) and those of Cheongil and Samhwanghak mines contained average 5% zinc(cut-off grade=2.0%). Especially, the detailed investigation on the above-mentioned mines is required. And, in case of molybdenum(cut-off grade=0.02%) content in Yeonhwa No. 2(0.04%) and Hong-cheon mine(0.02%), and lead(cut-off grade=0.58%) content in Wongasa mine(0.70%), and gold(cut-off grade=10ppm) content in Dongmyoung(279ppm) and Samhwanghak mine(251ppm), it is required to elastically carry out the revaluation on reopening of mines in terms of the international metal price. On the other hand, in case of uranium, iron and tungsten, it is thought that there are no mines with the development potential value in this study.

• Journal of the Korean Home Economics Association
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• v.35 no.6
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• pp.87-99
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• 1997

This study intends to find the effects of children's stress level and coping behaviors on their stress symptoms. The subjects were 840 4-6th grade children in Seoul. The data were analyzed by frequencies, percentages, means, ANOVA, stepwise regression and Cronbach's α. The regression model explained 46% of children's stress symptoms which were affected by coping behaviors(emotional aggression, positive revaluation, seperation for emotional relaxation) and by stressors(children's social-life, individual factors, school-life).

• The Journal of the Korean life insurance medical association
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• v.1 no.1
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• pp.54-56
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• 1984