• Proceedings of the Korean Society of Broadcast Engineers Conference
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• 2010.07a
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• pp.74-76
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• 2010

Digital images or videos are used in modern digital devices. The resolution of HDTV in digital broadcasting system is higher than that of previous analog systems. Also, mobile phone with 3G can provide images as well as video streaming services in realtime. In these circumstances, the visual quality of images has become an important factor. We can make image clear by transient improvement process that reduces transient in edges. In this paper, we present an transient improvement algorithm. The proposed algorithm improves edges by making smooth edge to steep edge. Before performing transient improvement algorithm, edge detection algorithm should be operated. Laplacian operator is used in edge detection, and the absolute value of it is used to calculate gain value. Then, local maximum and minimum values are computed to discriminate current pixel value to raise up or pull down. Compensating value that gain value multiplies with the difference between maximum (or minimum) value and current pixel value adds (or subtracts) to current pixel value. That is, improved signal is generated by making the narrow transient of edge. The advantage of proposed algorithm is that it doesn't produce shooting problem like overshoot or undershoot.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.191-199
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• 2020

This study aims to investigate what selection attributes of customer value are more crucial when consumers choose the dessert at convenience store, which is the fastest growing retail format in Korea recently. Factors considered to be important when customers buy dessert, such as economics, diversity, convenience, and safety were examined and also relationship between customer value and satisfaction was analyzed. The survey was conducted through online (including SNS) from April 6, 2019 to April 30, 2019. A total of 303 questionnaires were used for empirical analysis. Factor analysis was performed to verify the validity and reliability of the measured variables. And the structural equation model (SEM) was used as a statistical method for hypothesis testing. As a result, factors as 'diversity', 'safety' were revealed to significantly affect hedonic customer value, while 'convenience' was shown to affect utilitarian customer value significantly. In addition, the path that customer value leads to satisfaction was also found to be significant. The result of the study suggests that selection attributes of convenience store dessert and providing meaningful implications of related hedonic and utilitarian values when customers purchase dessert at convenience store. This study provided practical implications for managers of the fiercely competitive dessert industry.

• Journal of Distribution Science
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• v.15 no.4
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• pp.5-13
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• 2017

Purpose - This research analyzes the effects of Korean family ownership characteristics on firm value. The positive and negative effects of family ownership on Korean firm value were analyzed. If negative effects are evident, this research explores the factors that cause a decrease in firm value. Research design, data, and methodology - The study examined a total of 5,743 companies listed on the Korea Exchange from the period 2002 to 2012 using a panel data regression analysis. Result - An empirical analysis suggests that Korean family ownership diminishes firm value. Korean family firm value has been reduced when controlling shareholders are participated in management and pursue excessive wages, or make the management entrenchment effects associated with ownership-control disparity. When the controlling shareholders of family firms have increasing control rights over the shareholders' general meeting and the directors' board, the agency costs associated with seeking increasing executive wages or private benefits reduce firm value. Conclusions - This study has significance because it reveals the negative effect of family ownership in Korea on firm value. These negative effects can be the result of agency problems from controlling family shareholders seeking excessive wages or ownership-control disparity.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.3
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• pp.63-82
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• 2014

The main objective of this research is to investigate whether the RFM (recency-frequency-monetary value) information of a customer's redemption behavior of loyalty points can improve the prediction of future value of the customer. The conventional measurement of customer value has been primarily based on purchase transactions behavior although a customer's future behavior can be also influenced by other interactions between the customer and the firm such as redemption of rewards in a loyalty program. We theorize why a customer's redemption behavior can influence her future purchases and thereby the customer's total value based on operant learning theory, goal gradient hypothesis, and lock-in effect. Using a dataset from a major book store in Korea spanning three years between 2008 and 2010, we analyze both purchase transactions and redemption records of over 10,000 customers. The results show that the redemption-based RFM information does improve the prediction accuracy of the customer's future purchases. Based on this result, we also propose an improved estimate of customer lifetime value (CLV) by combining purchase transactions and loyalty points redemption data. Managerial implications will be also discussed for firms managing loyalty programs to maximize the total value customers.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.5-16
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• 2016

Prior literature expects a lower marginal cash value for weaker governance firms. We test this empirical hypothesis by using the sample of publicly traded Korean firms from 2005 to 2013. To measure the quality of governance structures, we employ the corporate governance scores provided by Korean Corporate Governance Services. The empirical model of Faulkender and Wang (2006) is adopted to estimate the marginal value of cash. Our empirical analysis shows a higher marginal value of cash for the good governance firms in the examination of the total governance score. This finding is consistent to the agency view of cash policy predicting a larger marginal value of cash for the firms with higher governance scores. However, this positive relationship is not robust for a subset of detailed governance scores; a lower marginal cash value is observed for the firms with better qualities of board structure, auditing, dividend policies. Moreover, our empirical analysis verifies a quite low level of marginal cash value for Korean firms, which supports the existence of severe agency conflicts in Korean corporations. Our results verify the significant role of agency conflicts between a manager and shareholders in the determination of marginal cash values in the Korean firms.

• Journal of Distribution Science
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• v.18 no.1
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• pp.35-45
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• 2020

Purpose- This study examines the multi-mediation effect of personal self-congruity and social self-congruity to perceived value and brand attitude on aircraft customers in China. Research design, data and methodology- Survey was conducted on Chinese citizens who had flown via Chinese airlines and lived mainly in the Yangtze River delta. 727 cases were analyzed. SPSS 22.0 and AMOS 24.0 were used to analyze the data. Results - First, perceived economic value has a positive impact on personal self-congruity and social self-congruity but has no effect on brand attitude. Second, perceived functional value has a positive impact on personal self-congruity, social self-congruity, and brand attitude. Third, based on this, perceived economic value is not directly related to brand attitude. However, there is a relationship between perceived functional value and brand attitude, with personal self-congruity and social self-congruity having mediation effects. Conclusions - The Results show that perceived economic and functional value such as competitive airfare, mileage membership, check-in processes, diversified vouchers and coupons, and also basic services such as flight security and flight attendant service having an effect on personal self-congruity. To improve consumer brand attitude, airlines should take into consideration personal self-congruity factors such as their values and lifestyles, and their social self-congruity factors such as their social status and social security.

• Journal of Distribution Science
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• v.18 no.1
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• pp.59-69
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• 2020

Purpose: This study aims to examine such relationships as the experiential value that customers respond to with regard to maintenance service by empirically revealing how the quality of auto maintenance and repair service affects both customer satisfaction and intention to reuse the same service through the Perceived-experiential Value of customers. Research design, data and methodology: The research model was designed with service qualities such as human quality, material quality, interaction quality, and system quality as independent variables, perceived-experiential value as a parameter, and service satisfaction and return visit intention as dependent variables. Through a questionnaire composed of 24 items, a total of 319 survey data from customers with the experience of using car maintenance service centers in Korea were collected and analyzed using a structural equation. Results: The material quality did not affect the customers' perceived-experiential value, whereas the interaction quality had the greatest influence. It is confirmed that human quality, interaction quality, and system quality can generate customer satisfaction and repurchase intention through the perceived-experiential value. Conclusions: The experiential value of customers can play an important medium role in improving satisfaction, with customers considering interaction quality important. Therefore, the auto maintenance and repair service should consider relationship-focused service strategies.

• Journal of Distribution Science
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• v.18 no.6
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• pp.93-101
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• 2020

Purpose: While crowdfunding functions as a purchasing behavior, it is different from other purchasing behavior. It derives from non-existed idea and leads to production and purchase through continuous idea development with participants and participants' support is a proxy for future sales. This study researches on consumption value, customer's trust and consumer's innovativeness to reveal which constructs of consumption value and customer's trust should be considered. Research design, data, and methodology: Crowdfunding participation intentions were examined using consumer's consumption value and trust of platforms as independent variables, and consumer innovation as a control variable. A total of 175 surveys were used for analysis. The hypothesis was tested using hierarchical regression analysis. Results: The results showed economic, epistemic value and ability, benevolence consumer trust to have a significant effect in crowdfunding participation intentions. The moderating effect of innovation was shown to be significant in only economic value and benevolence. Conclusions: The economic and hedonic value of consumers should be emphasized, as well as the evaluation level of the project itself. Moreover, technology or system safety, competency, and product specific information, as well as user benefits for their ideas are core elements in attracting new participants.

• Journal of Distribution Science
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• v.16 no.10
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• pp.55-64
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• 2018

Purpose - The most important goal of corporate management is the maximization of firm value in the market. Executives of companies are making effort to increase corporate value and initiate various management strategies, which is to develop the products or service with value. Through these efforts, consumer satisfaction grows and loyalty increases, which leads to the positive change of customer satisfaction index. The purpose of this research is to find out the abnormal return after the KCSI(Korean Customer Satisfaction Index) is announced. Research design, data, and methodology - This research data is collected from 11 years' stock price in KOSPI market and KCSI. The authors analyze the abnormal return triggered by the announcement of KCSI through the event study. Results - First, newly enlisted companies in the KCSI show statistically significant short-term abnormal rate of return. Second, the value of the customer satisfaction index is not the level of customer satisfaction but the direction of the change in the CSI. Conclusion - Customer satisfaction has the important intangible asset in the marketing area. However, firms' investment for CS is not an easy decision, because of the difficulty to measure the effect on corporate market value. This research investigates the change of the market value after the announcement of KCSI. Based on the results, firms have to keep trying to increase KCSI relative to the previous year. And the small company has to struggle for being newly listed in the KCSI.

• Knowledge Management Research
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• v.17 no.3
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• pp.161-179
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• 2016

The recent patent wars in the information technology (IT) industry demonstrate the strategic importance of IT patents in the industry. In this paper, we adopt the lens of real options to study the value of IT patents for IT firms. Specifically, we examine the relationship between IT patents and firms' market performance. We also consider the moderating effect of the innovation orientation of firms' patent portfolios (exploitative vs. explorative). Based on a large panel dataset consisting of 697 firms in US IT industries, our results suggest that the impact of IT patents on firm value (as measured by Tobin's q) is positive and significant. Further, we find that this impact varies, depending on the innovation orientation of firms' patent portfolios. IT patent portfolios with higher levels of an exploitative orientation are associated with higher firm value, compared to those with a lower exploitative orientation. This study highlights the value of employing real options theory as the underlying mechanism in understanding the impact of patents on firm valuation. Future researchers can adopt the real options lens to identify and empirically examine the role of other factors that may affect the value of patents and other investments exhibiting real option characteristics. While our paper answers some questions about the value of patents in the IT industry, it also raises a number of additional new questions. As such, we hope that it will generate more research on this important topic.