Lee Dongwoo

Abstract We examine the penalties imposed on the 585 firms targeted by SEC enforcement actions for financial misrepresentation from 1978–2002, which we track through November 15, 2005. The penalties imposed on firms through the legal system average only $23.5 million per firm. The penalties imposed by the market, in contrast, are huge. Our point estimate of the reputational penalty—which we define as the expected loss in the present value of future cash flows due to lower sales and higher contra

Press reports of investigations of fraud, indictments, and suspensions in military procurement are associated with significantly negative average abnormal returns in the stocks of affected firms. Abnormal stock returns are significantly less negative, however, for firms ranking among the top 100 defense contractors than for unranked contractors, even after one controls for firm size, the frauds' characteristics, and the firm's recidivism. Unranked contractors are penalized heavily for procurment

We examine the fit between the ownership data provided by four surrogate databases and the data collected from proxy statements. We discover an unambiguous pecking order among the surrogates relative to the benchmark ownership statistics of corporate proxy statements. Corporate Text is first, followed in descending order by Compact Disclosure, Value Line, and Spectrum. Further tests show that reporting discrepancies in the Value Line and Spectrum databases could affect economic inferences drawn

The Internet-of-Things (IoT) is a network of physical devices embedded with electronics, sensors, actuators, and connectivity enabling these objects to connect and exchange data. The IoT brings more data than ever before, connecting cyber and physical worlds, which enable people to make better decisions. The very nature of the IoT environment generating giant volumes of data gathered from several heterogeneous sources creates important data quality challenges that need to be addressed. This is b

In this paper, we apply an ARIMA (Autoregressive Integrated Moving Average) model to predict future network throughput, which is important in improving the network protocols in terms of latency, energy, etc. The Autoregressive Integrated Moving Average (ARIMA) model is a popular and a successful method to predict time-series data. It has wide applications in time-series analysis, including statistics and economics. We first train the model with the network throughput data using history. Then we

Abstract We examine the potential expropriation of a firm's intellectual capital that results from joint venture agreements when a firm's joint venture partner becomes the target of an acquisition attempt. We find that: (1) non‐targeted joint venture partners often suffer losses in value upon the announcement of the acquisition; (2) the magnitude of the loss increases with the R&D intensity of the non‐targeted joint venture partner; and (3) average bidder returns are less negative for acquir

This study investigates the effect of a non-market economy structure on the duopoly competition in which a foreign private firm competes with a state-owned enterprise in a non-market economy. By comparing with Singh and Vives (1984) and Matsumura and Ogawa (2012), we find that the non-market economic structure can function as a trade barrier and cause foreign firms to face discriminatory competition. The transition from a non-market economy to a market economy may sacrifice social welfare, which

As society transitions into super-aged populations, new urban challenges, such as the mobility and health of older adults, have emerged. These challenges can significantly impact quality of life, potentially leading to reduced happiness and highlighting the need for evidence-based policies. Various disciplines have proposed innovative approaches to address these challenges, with land use policies increasingly emphasised in the urban and transport sectors to enhance the happiness of older adults.

본 연구는 자료포락분석(Data Envelopment Analysis)을 활용하여 2018년 대학기본역량진단을 수행한 전문대학을 대상으로 상대적 효율성과 생산성을 측정하고 분석하는 것을 목적으로 하고 있다. 이를 통해 전문대학의 배경변인별 효율성 차이와 대학기본역량진단 평가에 따른 효율성을 측정하고, 생산성 변화를 분석해 보고자 하였다. 이를 위해 대학정보공시센터에서 운영하고 있는 대학알리미 사이트를 통해 2016년에서 2018년까지의 자료를 수집하여 분석하였다. 전문대학의 상대적 효율성 분석을 위한 투입 및 산출변수의 선정은 선행연구를 참고하여 투입변수는 교사시설확보율, 재학생1인당장학금, 학생1인당교육비, 전임교원확보율 지표를 활용하였고, 산출변수는 신입생경쟁률, 재학생충원률, 졸업생취업률 지표를 활용하였다. 배경변인에 대한 효율성 평균차이를 비모수검정을 통해 분석한 결과, 전문대학의 학교 유형과 소재지에 따른 효율성 평균차이가 통계적으로 유의한 차이를 갖는 것으로 나타났다. 그

ABSTRACT We study contests in which two groups compete to win (or not to win) a group‐specific public good/bad prize. Each player in the groups can exert two types of effort: one to help her own group win the prize and one to sabotage her own group's chances of winning it. The players in the groups choose their effort levels simultaneously and independently. We introduce a specific form of contest success function that determines each group's probability of winning the prize, taking into account

Data quality is getting as important as product quality in manufacturing
\nprocess. The purpose of this paper is to apply data quality assessment defined in ISO
\n8000 to manufacturing processes defined in IEC 62264. Considering data quality management assessment, parts of manufacturing processes are selected with regard to data
\nprocessing and the manufacturing processes are restructured according to process description of ISO 8000-61 with purpose, outcomes and activities. The asse