• 아태비즈니스연구
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• 제12권3호
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• pp.343-359
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• 2021

Purpose - The purpose of this paper is to investigate the relationship between earnings management and the disclosure effect of share repurchase. In addition, we analyze whether the relationship between earnings management and share repurchase is affected by executive stock options. Design/methodology/approach - We calculate the discretionary accrual amount for the year immediately preceding the share repurchase and the cumulative excess return around the announcement of the share repurchase, and examine the relationship between the two by regression analysis. Findings - We confirmed a negative relationship between discretionary accrual in the year immediately preceding the share repurchase and the market response to the share repurchase disclosure. In particular, it was found that the negative relationship between discretionary accrual and stock price return on share repurchase announcement was found to decrease in companies to which executive stock options were granted. Research implications or Originality - When uncertainties exist in the motives for share repurchase, we find that earnings management and executive stock options can be useful tools for reducing the adverse selection risk inherent in share repurchase announcements.

• 유통과학연구
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• 제16권2호
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• 산경연구논집
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• 제4권1호
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• pp.15-21
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• 2013

Purpose - Our goal was to determine whether there is a relationship between actual profits' deviation from the profits expected in earnings per share's adjustment announcements and the degree of apparent earnings management in annual financial statements. Research design, data, and methodology - The samples consisted of 133 companies from ten industries. The companies were selected among those listed in the stock exchange, and their data were examined covering the two-year period from 2008 to 2010. Tests were conducted using a regression model and SPSS statistical software. Results - The findings indicate the following. There is no significantly positive relationship among the last earnings per share's adjustment forecast, the first earnings forecast per share, and earnings management. Moreover, the amount of the latest earnings per share's adjustment forecast relative to its first forecast is not associated with the companies' discretionary accruals items. Finally, the hypothesis that a relationship exists between companies' latest adjustments of their earnings per share and earnings management was tested the results indicate that there is no such relationship. Conclusions - The study's results suggest that the amount of earnings per share's adjustment is not a motivation for earnings management.

• 정보처리학회논문지C
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• 제17C권5호
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• pp.399-406
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• 2010

유비쿼터스 네트워크 환경에서 다양한 데이터 서비스가 가능해지면서 악의적인 공격자나 내부 사용자에 의한 보안 취약성 및 프라이버시 침해로 인한 문제를 해결하기 위해 다양한 콘텐츠나 대용량 데이터의 안전한 보안 관리 문제가 주요 이슈로 떠오르고 있다. 기존 다항식 기반을 이용한 Ito, Saito, Nishizeki 할당 방식은 분산된 비밀정보를 복원하기 위해 Share 모두가 필요하게 된다. 반면, 본 제안 방식의 경우, 임계치 이상의 Share가 모아지면 비밀정보를 복원할 수 있다. 또한, 데이터를 분산 복원하는 분산 DBMS 운영상의 효과 특히, 데이터베이스(DB) 서버 및 Share 선택의 규칙성이 있고 조합적 구조인 Combinatorial Design상의 파라메터 t,v,k를 이용함으로써 구현상의 유연성(flexibility)을 갖는다. 본 논문에서는 Share의 할당 문제를 해결하고자 비밀분산 방식을 이용하여 데이터를 분산저장관리 할 때 Share의 할당을 위해 t-(v,k,1) 디자인이 갖는 행렬구조를 적용시킴으로써 새롭게 Share 할당법을 구성하고 데이터 분산저장관리에의 응용에 대해 검토한다.

• Management Science and Financial Engineering
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• 제13권1호
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• pp.73-91
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• 2007

We investigate factors that influence the choice of high-share brands(HSBs) vs. low-share brands(LSBs) among various product and consumer characteristics related to brand-share perceptions. Specifically, using 8 product categories varying in terms of purchase decision involvement, we show how the influencing factors vary across the categories. At the general level that cover all the 8 categories, our hierarchical Bayesian regressions analysis shows that factors that favor high-share brands are purchase decision involvement, search goods, experience goods, price-quality relationship, positive network externalities, and price-prestige beliefs. Conversely, consumers who value variety seeking and need for uniqueness favor low-share brands. The effects of these factors, however, vary across product categories. The identification of these characteristics can help brand managers establish a more effective brand-share strategy in such areas as setting an optimal market share goal, extending a brand, and developing ad copy. Furthermore, our consumer segmentation analysis demonstrates the general market has two distinct segments - (1) a segment composed of HSB buyers(86%) and (2) a segment composed of LSB buyers(14%). The two segments are also shown to have different significant factors that explain their brand choice. Our segmentation analysis can help marketers establish a marketing strategy that targets a specific segment of interest.

• 대한가정학회지
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• 제40권8호
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• pp.153-166
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• 2002

This study aims to reveal the influence of price increase in gasoline on household expenditure trade-off. The subjects were 651 households, acquired the first quarter of 1996 and 1997. This study shows the change of the auto fuel budget share in the same household and they were analyzed with the paired t-test, independent t-test. The results are as follows; 1) the price increase of auto gasoline resulted in the increase of its budget share, regardless of a household's true increase or decrease of income. 2) according to price increase in gasoline, the auto fuel budget share has been changed, therefore I divided these changes into three group on the base of it's degree of change. 3) In the group that had a decrease in auto fuel budget share compared to the degree of change, there was a trade-off between the increase in food and light & light water and the decrease of education and auto fuel budget share. Auto fuel in this group was used as discretionary good. 4) In the group that had a similar change in auto fuel budget share compared to the degree of change, there were no trade-off between expenditure items except auto fuel budget share and miscellaneous decrease. This group is the highest income group among the three groups. 5) In the group that had and increase of change in auto fuel budget share compared to the degree of change, there was a trade-off between the increase of eating-out and auto fuel, and the decrease of education and miscellaneous budget share. Auto fuel in this group was used as a discretionary good. 6) trade-off expenditure budget share showed a mixed effect between the influence of increase in gasoline price and influence of increase in true income.

• International Journal of Railway
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• 제2권2호
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• pp.80-92
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• 2009

Successful market adoption of rail freight transport innovations that might offer opportunities for market share increase is the focus of this paper. Firstly, seen from a theoretical point of view, it is not incremental innovations but radical organizational and transformation innovations that are likely to increase the market share of rail freight transport. Secondly, the particular inovations that offer some success potential for market adoption are: dedicated infrastructure, the fixed timetable, locomotive upgrades, and INTERFACE. Thirdly, unfortunately, the opportunities to increase the market share of rail freight transport appear to be limited.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2000년도 추계학술대회 논문집
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• pp.68-76
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• 2000

Reliable external cost must be estimated to achieve the optimal market share between transportation modes. In this paper, we determined the market share between railroad and road on the cost minimization base. The results show that optimal market share is achieved by increasing investment on railroad.

• 산업경영시스템학회지
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• 제43권2호
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• pp.14-24
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• 2020

Google Trends is a useful tool not only for setting search periods, but also for providing search volume to specific countries, regions, and cities. Extant research showed that the big data from Google Trends could be used for an on-line market analysis of opinion sensitive products instead of an on-site survey. This study investigated the market share of tumor necrosis factor-alpha (TNF-α) inhibitor, which is in a great demand pharmaceutical product, based on big data analysis provided by Google Trends. In this case study, the consumer interest data from Google Trends were compared to the actual product sales of Top 3 TNF-α inhibitors (Enbrel, Remicade, and Humira). A correlation analysis and relative gap were analyzed by statistical analysis between sales-based market share and interest-based market share. Besides, in the country-specific analysis, three major countries (USA, Germany, and France) were selected for market share analysis for Top 3 TNF-α inhibitors. As a result, significant correlation and similarity were identified by data analysis. In the case of Remicade's biosimilars, the consumer interest in two biosimilar products (Inflectra and Renflexis) increased after the FDA approval. The analytical data showed that Google Trends is a powerful tool for market share estimation for biosimilars. This study is the first investigation in market share analysis for pharmaceutical products using Google Trends big data, and it shows that global and regional market share analysis and estimation are applicable for the interest-sensitive products.

• 한국콘텐츠학회논문지
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• 제22권6호
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• pp.329-341
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• 2022

본 연구는 국내 대학생들이 주거공간으로서 이용하는 쉐어하우스 품질과 쉐어하우스에 대한 신뢰, 몰입도가 재이용의사에 미치는 영향을 조사하여 쉐어하우스가 대학생 및 청년층의 새로운 주거공간의 대안으로 떠오를 수 있는가를 알아보고 이를 통하여 현재 쉐어하우스 시장에 관한 이해도를 높이며, 추후 쉐어하우스의 합리적인 공급 및 거주환경 향상을 위한 시사점을 도출하고자 하였다. 이를 위해, 문헌 연구와 실증연구를 병행(쉐어하우스 대학생 사용자 대상으로 설문 조사)하였다. 쉐어하우스 품질로 유형성, 안전성, 공감성, 신뢰성, 응답성이 신뢰와 몰입 및 재이용의사에 어떠한 영향을 미치는지 살펴보기 위하여 회귀분석을 실시하였다. 종합적으로 볼 때, 쉐어하우스의 품질 중, 유형성, 안전성, 공감성, 신뢰성, 응답성에 대한 만족도가 높다면, 쉐어하우스에 대한 신뢰와 몰입이 향상되고 재이용의사를 향상시킬 수 있을 것으로 판단된다. 현재 대학생 및 청년층에게 필요한 주거공간의 공급이 부족한 상황에서, 민간 시장을 이용하여 낮은 임대료와 더불어 주거의 질이 보장되어 있는 쉐어하우스 공급을 활성화시키기 위해서는 주거정책적 관점에서 향후 대응주거로서의 쉐어하우스가 지속가능한 주거 유형의 중요한 부분이 될 것으로 기대한다.