• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.49-55
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• 2018

Purpose - This paper examines the effect of related party transactions on crash firm-specific stock price crash risk. Ownership of a typical Korean conglomerate is concentrated in a single family. In those entities, management and board positions are often filled by family members. Therefore, a dominant shareholder can benefit from related party transactions. In Korea, firms have to report related party transactions in financial statement footnotes. However, those are not disclosed in detail. The more related party transactions are the greater information risk. Thus, companies with related party transactions are likely to experience stock price crashes. Research design, data, and methodology - 2,598 firm-year observations are used for the main analysis. Those samples are from TS2000 database from 2009 to 2013, and the database covers KOSPI-listed firms in Korea. The proxy for related party transactions (RTP) is calculated by dividing total transactions to the related-party by total sales. A dummy variable is used as a dependent variable (CRASH) in the regression model. Logistic regression is used to explain the relationship between related party transactions and crash risk. Then, the sample was separated into two groups; tunneling firms and propping firms. The relation between related party transactions and crash risk variances with features of the transaction were investigated. Results - Using a sample of KOSPI-listed firms in TS2000 database for the period of 2009-2013, I find that stock price crash risk increases as the trade volume of related-party transactions increases. Specifically, I find that the coefficient of RPT is significantly positive, supporting the prediction. In addition, this relationship is strong and robust in tunneling firms. Conclusions - The results report that firms with related party transactions are more likely to experience stock price crashes. The results mean that related party transactions increase the possibility of future stock price crashes by enlarging information asymmetry between controlling shareholders and minority shareholders. In case of tunneling, it could be seen that related party transactions are positively associated with stock crash risk. The result implies that the characteristic of the transaction influences crash risk. This study is related to a literature that investigates the effect of related party transactions on the stock market.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.617-624
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• 2021

The purpose of this study is to develop a Technology Acceptance Model (TAM), to determine differences in gender perceptions in adopting non-cash transactions. In this study, the authors provide a measurement of differences in gender perceptions in adopting cashless, which refers to perceived usefulness, perceived ease-of-use, and perceived security. Respondents in this study were students from the millennial generation who are very familiar with the use of technology, especially non-cash transactions. The data collection technique used in this study was a survey, by distributing questionnaires to 260 respondents. The data were processed statistically through Structural Equation Modeling (SEM). The results of this study indicate that for men, ease-of-use of transactions does not increase the use of non-cash transactions. Meanwhile, for women, perceived ease-of-use has a significant and positive effect on the use of non-cash transactions. Furthermore, perceptions of usability and security have a positive and significant impact on using non-cash transactions. It was also found that female students had a positive, but not significant, effect on the use of non-cash transactions. This means that there has been a difference in the perception of gender, between men and women, in responding to the use of non-cash transactions.

• Journal of Advanced Navigation Technology
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• v.12 no.4
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• pp.357-365
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• 2008

Broadcast is a efficient interactive method between a server and mobile clients via wireless channel and broadcast environments are incarnating as various applications. Most studies have been proposed in broadcast environments deal with read-only mobile transactions, many applications are emerging recently that need to manage the update transactions at mobile clients. So we propose a concurrency control for mobile transactions consisted mainly of update operations in broadcast environments. As an optimistic approach is applied for scheduling update transactions, repetitive aborts of update transactions are occur due to conflict between transactions. To solve this problem update transactions must have been executed with distributed manner, but unnecessary aborts are occur as well because of continuous restart. Thus, in this paper we propose a method that transactions are executed distributed manner and can avoid unnecessary aborts of update transactions. Proposed method has no unnecessary uplink and can save resources of mobile client.

• Journal of the Institute of Electronics Engineers of Korea CI
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• v.40 no.6
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• pp.22-31
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• 2003

Traditional concurrency control strategies for database system are inappropriate for mobile computing environments in which communication disconnection could occur frequently. The time available to access transactions may be extremely limited in mobile computing. In order to ensure that this time is utilized most effectively, the short-lived transactions must be a main stream of transactions. Service handoffs which occur due to communication disconnection, could degrade the performance of mobile transactions especially for short-lived transactions. Altruistic locking protocol is in its nature favorable to short-lived transactions since it applies the donation of locks to long-lived transactions as early as possible. Performance for short-lived transactions could be improved when we applied altruistic locking to mobile computing.

• Journal of Distribution Research
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• v.1 no.2
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• pp.9-28
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• 1996

Recent research has examined how changing a buyer's purchasing policy can improve the efficiency of buyer-seller transactions for a single product. This paper extends the analysis to consider transactions involving multiple products. We show that under certain conditions, coordinating purchases across products is more efficient for the buyer and the seller than maximizing transctions efficiency for each separate product. In contrast to the single product case, the original prices of the products sometimes can support efficient, coordinated transactions across products. Mechanisms like quantity discounts, which are necessary to enforce efficient transactions for a single product, are therefore not always necessary for efficient, coordinated transactions of multiple products. When such mechanisms are required, we show that product bundling by the seller can be used to maximize transactions efficiency across products.

• The Journal of the Korea institute of electronic communication sciences
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• v.5 no.4
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• pp.464-470
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• 2010

Real estate transactions and real estate in harmony with the hospital and the relationship between the human being requested would improve the trade process, according to the fire, rather than deal with the accident occurred is often the relationship is deteriorating. The practice of real estate transactions in Korea in connection with real estate transactions, the system is very difficult to receive assistance, real estate and related transactions as well as the right to review the essential detail and accurate analysis is bound to be limits to. Therefore, a real estate transaction due to the damage prevention and compensation system to complement, brokerage transaction activity in the current real estate brokerage system problems to overcome real estate transactions incident root cause of one of the intellectual is the realtor system improve the quality and professionalism propose to raise.

• International Commerce and Information Review
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• v.12 no.4
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• pp.405-427
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• 2010

This legal study is to compare the Electronic Transactions Act in Thailand(hereinafter 'ETA') with mainly other countries electronic transactions acts, such as UNCITRAL MLEC, UECIC, VETA, UCITA and Korea' Electronic Transactions Act The ETA is consisted of 6 chapters which included preamble and definitions. Each chapter's main point as follows. Preamble is related to the name, time of legal effect, scope and definitions. Chapter 1 is not only general principles of electronic transactions, required restriction in addition to specify the limit of application, documentation, evidential weight in reference to the data message, but also the conditions of offer and acceptance through data message, time and place of dispatch and receipt of data message, certification between origination and addressee. According to media-neutrality and the effectiveness security requirement of data message under the information system, legal certification is related to the exchange's declaration of intention, define about origination-addressee of data message. Chapter 2 is composed to provide expressly about the effectiveness security in electronic signature. Those contents are to compare the MLEC, UECIC and Electronic Transactions Act in Korea. Chapter 3 is related to legal definitions that present legal requirement about service relating electronic transaction which contents accept domestic law, the adequate requirement as eligibility, satisfied matter, self-reliance ratio of finance and other detail standard Chapter 4 is deal with the transaction which are public sector and those application requirements. And also this chapter are composed regulations about direct-indirect purpose of Thailand domestic electronic government.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.17
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• pp.129-146
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• 2002

The electronic technology development have occurred in the face of existing legal barriers to legal efficacy of computer information goods, and the liberating promise of electronic transactions cannot fully realized unless there is predictability in the legal rules that govern such transactions. This study analyzes some theoretical fundamentals of the Act. First, it proposes that the Act clarify and set forth uniform legal principles applicable to computer information transactions. Secondly, it suggests that if the individual is risk averse, the acceptance set for electronic transactions will be a convex set, and that the application of the Act will make the acceptance set more expanded by lowering the probability of conflicts and by downsizing the risk averness. Thirdly, it also suggest that through the mothod of contingent commodities analysis, the application of the Act by means of its restricted regulations will give more expected utility than the absence of the Act. Fourthly, it derives some implications that the degree of legitimate restriction will be affected by the objective risk inherent to the electronic transactions, and the individual's subjective risk-averseness. Finally, it concludes that harmonization of restriction and protection of individual's rights in electronic transaction process will be a necessary condition for more efficient body of law from the law-economic perspectives.

• The Transactions of the Korea Information Processing Society
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• v.3 no.6
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• pp.1365-1374
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• 1996

To alleviate the blocking inherent in 2-phase commit protocol(2PC) that is widely used to ensure the atomicity of global transactions in distributed environments, an optimistic 2PC can be used. Under the optimistic 2PC, compensation transactions are introduced to ensure the atomicity of transactions, which may result in the violation of global serializability due to the properties of compensation, transactions. In this paper, we propose several valid management protocols for global transactions to ensure the global serializability through the analysis of transaction of state transitions. To determine the execution of one global transaction, the proposed protocols check the sates of other concurrent global transactions. According to the result, execution of the global transaction may be delayed to ensure the global serializability.

• International Commerce and Information Review
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• v.9 no.3
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• pp.287-304
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• 2007

Determination of the time and place of dispatch and receipt of electronic messages is an important element of the operation of many rules of law, particularly the timing of formation of the contract. In this paper, I reviewed interpretation and application of time and place of dispatch and receipt of electronic records in electronic transactions under the UNCITRAL(United Nations Commission on International Trade Law) Model Law on Electronic Commerce, USA Uniform Electronic Transactions Act and Korea Electronic Transactions Act. Time of dispatch and time of receipt are effective when received. The sender has the burden to prove that the electronic record is sent successfully to the information process system of the recipient. Therefore, to safety electronic transactions, the sender needs to request a confirm notice for receipt to the recipient when the electronic record is sent like the provisions of UNCITRAL Model Law on Electronic Commerce and Korea Electronic Transactions Act. By requesting the above, the sender is able to take precautionary measures for damage according to the failure of dispatch and receipt of the electronic records.