Sang‐Ho Lee, Ted Blacker and Ted Belytschko
An enhanced L2 projection method for recovering accuratederivatives such as moments, or shears, from finite element solutions forC° plates is presented. In the enhanced global and…
Abstract
An enhanced L2 projection method for recovering accurate derivatives such as moments, or shears, from finite element solutions for C° plates is presented. In the enhanced global and local projections, the square of the residuals in the equilibrium equations is included. Results are compared with those of standard global and local projection methods. Numerical examples show that in the global projection, the enhanced technique improves the accuracy of projected solution significantly. In the local projection, the enhanced projection technique circumvents the numerical ill‐conditioning which occurs in some meshes, and usually recovers derivatives with better accuracy. These techniques are effective for both thin and thick plate problems, and can provide more reliable error estimates for mesh adaptivity.
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Sang Ho Lee, Seung Uk Choi and Ji Yeon Ryu
The purpose of this study is to examine the association between additional audit efforts and clients’ future equity value. The study hypothesizes that auditors’ additional audit…
Abstract
Purpose
The purpose of this study is to examine the association between additional audit efforts and clients’ future equity value. The study hypothesizes that auditors’ additional audit efforts directly increase clients’ stock return performance. Additionally, this study expects that the additional audit effort lowers the likelihood of audit failure and improves accounting information quality, thereby indirectly increasing clients’ future equity return performance.
Design/methodology/approach
The regression and portfolio return tests are conducted using observations from 2003 to 2016. This study uses the abnormal audit hours as a proxy for additional audit effort using mandatorily disclosed audit hour data from Korean listed firms. The study also conducts mediation analyses to examine the causal intermediate steps that link audit effort to client equity return performance.
Findings
The paper documents a significant and positive association between abnormal audit hours and clients’ subsequent years’ stock return performance and Tobin’s Q. This finding is accentuated for clients audited by Big N auditors or with greater demand for superior audit service. This finding is robust after controlling for various proxies of accounting quality. The portfolio return tests also find evidence that investors cannot fully perceive the value of audit efforts. A battery of additional tests does not alter the main findings.
Practical implications
The results provide implications for investors and policymakers by emphasizing the importance of audit efforts in value-creation. Moreover, this study’s findings suggest that auditors’ assurance, insurance and information roles are all the important drivers of this value-creation.
Originality/value
This study highlights a prominent feature of audit effort that enhances the value of auditees.
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As intangible cultural heritage, traditional performing arts depend on transmission by individuals and collectives. The purpose of this paper is to explore how traditional…
Abstract
Purpose
As intangible cultural heritage, traditional performing arts depend on transmission by individuals and collectives. The purpose of this paper is to explore how traditional performers practice their arts in South Korea. The analysis focuses on the transformations of performance conventions and contexts, as well as on new genres that developed in response to heritage legislation and social change during the last 200 years.
Design/methodology/approach
Drawing on a wide array of existing ethnographic research, the paper compares processes of transmission and transformation of three different genres: the solo singing-storytelling genre pansori, the ensemble percussion-dance genre pungmul and the various regional forms of mask dance drama subsumed under the label talnori. The paper argues that the artists, who perform these genres, while not unaffected by the expectations of their audiences, have the power to transcend traditional boundaries.
Findings
Due to early professionalization in the nineteenth century, pansori performers could adapt to the changing contexts of market-oriented modernity and survive until governmental intervention in 1962. Pre-modern pungmul and talnori was performed primarily by and for rural communities, resulting in an interruption of transmission when these contexts disappeared and partial re-invention in the wake of official preservation legislation.
Originality/value
The need for repeated performance in historically varying contexts makes the analysis of performing arts particular fruitful for understanding how practitioners of tradition (have to) adapt to change. A historical-comparative perspective provides concise insights into the dynamics of development that informs tradition today. The inclusion of offspring genres (changgeuk, madang-geuk, samulnori) furthermore shows the potential of heritage development beyond the official system of preservation.
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This chapter is aimed at filling two important gaps in the large literature on high-involvement work system (HIWS). First, the existing literature tends to focus on North America…
Abstract
This chapter is aimed at filling two important gaps in the large literature on high-involvement work system (HIWS). First, the existing literature tends to focus on North America and Western Europe, and detailed information on HIWS outside of the two regions (especially Asia) is still limited. Second, while there is a large body of quantitative evidence, the literature is relatively scant on detailed account of exactly how specific HIWS practices are implemented in the real workplace. This chapter draws on our extensive field research at firms in Japan, the United States, and Korea, and presents real-world examples of HIWS of firms in Japan, Korea, and the United States. Our detailed account of the implementation of HIWS in the three countries points to an intriguing process of transnational diffusion of HIWS. Japanese firms as early experimenters of HIWS posed a challenge to U.S. firms in the global marketplace, resulting in the trans-pacific diffusion of HIWS which is modified to the U.S. corporate culture. Due to its geographical proximity and historical connections to Japan, Korean firms were initially heavily influenced by Japanese HIWS. However, with the rising link to the United States and Europe, Japanese influence appears to have been waning, and interest in U.S. style HIWS and European-style state-mandated works council has risen, suggesting that a hybrid model may be emerging in Korea.
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The purpose is to bring together all bibliographic references of the published literature on electronic books (e‐books) and related technologies in one source so that it will save…
Abstract
Purpose
The purpose is to bring together all bibliographic references of the published literature on electronic books (e‐books) and related technologies in one source so that it will save time for others in conducting literature searches and reviewing the developments.
Design/methodology/approach
The information included in this bibliography is collected systematically from all the published sources in the world such as journal articles, conference papers, conference proceedings, books, reports and PhD theses on e‐books until the last quarter of 2004. Mainly it covers e‐books, e‐books publishing, the impact of e‐books on different types of users, e‐book publishing techniques and trends, e‐book user interfaces and other technologies related to e‐publications.
Findings
As computer usage continues to grow exponentially, the desire of users to use electronic publications (e‐publications) has also increased tremendously. This has led to the publication of materials in electronic form as e‐publications on both CD‐ROMs and web. The e‐book is one of the several forms of e‐publications and its popularity has been growing steadily for the past decade.
Originality/value
This bibliography will be useful to all researchers conducting research in any areas related to e‐books and e‐book publishing.
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Yuhan Luo and Mingwei Lin
The purpose of this paper is to make an overview of 474 publications and 512 patents of FTL from 1987 to 2020 in order to provide a conclusive and comprehensive analysis for…
Abstract
Purpose
The purpose of this paper is to make an overview of 474 publications and 512 patents of FTL from 1987 to 2020 in order to provide a conclusive and comprehensive analysis for researchers in this field, as well as a preliminary knowledge of FTL for interested researchers.
Design/methodology/approach
Firstly, the FTL algorithms are classified and its functions are introduced in detail. Secondly, the structures of the publications are analyzed in terms of the fundamental information and the publication of the most productive countries/regions, institutions and authors. After that, co-citation networks of institutions, authors and papers illustrated by VOS Viewer are given to show the relationship among those and the most influential of them is further analyzed. Then, the characteristics of the patent are analyzed based on the basic information and classification of the patent and the most productive inventors. In order to obtain research hotspots and trends in this field, the time-line review and citation burst detection of keywords carried out by Cite Space are made to be visual. Finally, based on the above analysis, it draws some other important conclusions and the development trend of this field.
Findings
The research on FTL algorithm is still the top priority in the future, and how to improve the performance of SSD in the era of big data is one of the research hotspots.
Research limitations/implications
This paper makes a comprehensive analysis of FTL with the method of bibliometrics, and it is valuable for researchers can quickly grasp the hotspots in this area.
Originality/value
This article draws the structural characteristics of the publications in this field and summarizes the research hotspots and trends in this field in recent years, aiming to inspire new ideas for researchers.
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Bong-Gyu Jang, Sang-Gyu Lim and Ho-Seok Lee
We investigated term structure models for commodity prices to value derivative-linked securities (DLS) traded in Korea. We especially highlighted geometric Brownian motion (GBM…
Abstract
We investigated term structure models for commodity prices to value derivative-linked securities (DLS) traded in Korea. We especially highlighted geometric Brownian motion (GBM) model considering a convenience yield and Schwartz model reflecting mean-reverting property.
One of key characteristics of the paper is that this paper provides theoretical models for multi underlying assets and the model combining GBM model and Schwartz model. Furthermore, it gives us an analysis for quanto adjustment which occurs in the valuation of DLS. In case of GBM model, quanto adjustment seems to be relatively simple by adjusting a constant ratio to risk-free interest rate. Unlike GBM model, we find out that, in case of Schwartz model, such adjustment can be achieved only when the stochastic process of foreign exchange rate is considered.
After having valuation, both models show stable results for DLS prices using WTI index as an underlying asset. However, they results in outcomes, which are relatively not stable, on valuing DLS written on multi underlying assets including nickel.
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Sang Ho Kim and Yohan An
This paper aims to examine the effects of economic policy uncertainty (EPU) on accounting conservatism in Korean firms. An increase in EPU could widen information asymmetry…
Abstract
Purpose
This paper aims to examine the effects of economic policy uncertainty (EPU) on accounting conservatism in Korean firms. An increase in EPU could widen information asymmetry between insiders and outsiders, to the detriment of a firm’s investment decisions, stock price and cost of capital. This paper hypothesizes that Korean firms are likely to decrease accounting conservatism during high EPU due to inefficient institutional structure and weak corporate governance, together with the vulnerability of the Korean economy to exogenous shocks.
Design/methodology/approach
This study measures a firm’s level of conservatism using three accrual-based models proposed by Ball and Shivakumar (2006): 1) the cash flow model (CF model), 2) the Dechow and Dichev model (DD model) and 3) the Jones model. As a robustness test, this paper uses C-score model as an alternative measure of accounting conservatism. The data set used in this study is a total of 23,109 firm-year observations during the sample period from 2000 to 2018.
Findings
The test results show that an increase in EPU adversely affects Korean firms’ accounting conservatism, and that this adverse impact is more pronounced in financially distressed and non-manufacturing firms. This study’s findings highlight the importance of institutional structure during a period of high EPU, which can create incentives for either improving or deteriorating reporting quality.
Originality/value
This study adds new evidence to extant literature on the effects of EPU on managers’ choice of accounting policies and demonstrates that managers in emerging markets may have different incentives to cope with country-specific EPU fluctuations.
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Manuel F. Suárez‐Barraza and Juan Ramis‐Pujol
Derived from work conducted on the topics of Lean‐thinking and Lean‐Kaizen some management practices or techniques, such as the 5Ss, have recently become important in this…
Abstract
Purpose
Derived from work conducted on the topics of Lean‐thinking and Lean‐Kaizen some management practices or techniques, such as the 5Ss, have recently become important in this research. The reason for this is that more and more of the companies that apply Lean‐thinking and Lean‐Kaizen are using the 5Ss as an essential step in their implementation. Therefore, this paper aims to explore the implementation of the 5Ss in multinational organisations in Mexico empirically, in order to analyse and compare them against the respective theoretical frameworks. The research question that governs the study is: “How are the 5Ss implemented in an organisational context such as that of a multinational company in Mexico?”
Design/methodology/approach
An exploratory multiple case study was conducted. Three multinational companies, which have been established in Mexico for at least 20 years, were selected. Two of these companies were from the automotive sector (suppliers) and the third was a company manufacturing hygiene and cleaning products. Four methods were used to gather data: direct observation, participative observation, documentary analysis, and semi‐structured interviews.
Findings
Based on cross analysis findings, a group of reasons was found for applying the 5Ss in the multinational organisations analysed, along with a group of drivers and inhibitors responsible for enhancing or blocking the successful implementation of the 5Ss. Finally, a conceptual framework was also established, based on the results of comparing theory and fieldwork: this provides a glimpse into the relationship of the 5Ss with other improvement programmes, known as Lean‐thinking or Lean‐Kaizen, in the organisations analysed. In particular, the framework show the importance between do (way: philosophy) and jyutsu (techniques) during the implantation process of 5Ss.
Practical implications
Derived to describe three case studies on how to implement the 5Ss within a programme or model for the Lean‐thinking or Lean‐Kaizen approach, it may prove to be of value to practitioners and managers involved in the field. Similarly, a section on managerial implications has also been included.
Originality/value
The study contributes to the limited existing literature on the 5Ss through research that seeks to understand how this technique is implemented in a context of multinational organisations, particularly emphasising the main drivers and inhibitors that enhance or block it during the implementation process. It also includes a theoretical framework that can demonstrate the relationship of the 5Ss with the Lean‐thinking and Lean‐Kaizen programmes in this context: In particular for Latin America and Mexico, where virtually no academic studies of this type have been conducted.
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This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93…
Abstract
This paper, in face of the increasing interconnectivity between local and global, has attempted to retrospect the critical moment of Korean society under Tae‐woo Rho (1988–93) regime, in which Korea struggled for fundamental reforms of the earlier centrally controlled state system through economic rationalization and labor flexibilization. During that juncture of Korean history, neo‐liberalization under the influence of Fordian decline was a governing theme behind the Korean economy's policy formation as well as labor agenda. This reliance of government on the neo‐liberal pillar has made an impact on the subsequent leaderships under Young Sam Kim (1993–1998) and Dae Jung Kim (1998‐present). After briefly reviewing the major aspect of Korean economy and labor problems surrounding the financial crisis of East Asia around 1998, the international influence of Fordian decline and neo‐liberalization as a Korean alternative has been discussed.