기업의 특성이 과잉투자와 미래이익반응계수간의 관계에 미치는 영향 : 사외이사, 감사위원회, 경영자의 특성을 중심으로

김도연 ( Do Youn Kim ),김정옥 ( Jeong Ok Kim ) 한국회계학회 2021 회계학연구 Vol.46 No.6

기업이 적정한 수준의 투자활동을 수행할 경우 이는 높은 경영성과로 이어지는 것으로 알려져 있다. 그러나 경영자는 자신의 사적목적을 달성하기 위하여 최적수준 이상의 투자의사결정을 할 수 있으며, 이로 인해 기업이 제공하는 회계정보의 질은 낮아지는 것으로 보고되고 있다. 또한 과잉투자에 따른 과도한 현금유출을 수반함으로써 사업에 대한 불확실성이 높아져 미래성과에 부정적인 영향을 끼칠 수 있다는 결과도 제시되었다. 그리고 김도연과 김정옥(2021)의 연구에서는 자본시장의 투자자들은 과잉투자활동이 기업가치를 향상시키기 위한 목적보다는 경영자의 사적인 이익을 추구하기 위한 목적으로 이루어지고 있다는 연구결과를 제시하였으며, 과잉투자기업의 주가는 미래순이익에 대한 정보를 제대로 반영하지 못한다는 결과를 제시하였다. 그러나 이는 기업의 특성을 고려하지 않은 결과이므로 이를 일반화하는 것에는 한계가 있다. 왜냐하면 경영자의 의사결정은 기업의 특성 및 경영자 개인의 특성에 의해 영향을 받는 것으로 선행연구에서 제시되어 왔으므로 이를 고려할 필요가 있기 때문이다. 이에 본 연구는 경영자의 의사결정에 영향을 미치는 것으로 보고된 사외이사제도와 감사위원회 및 경영자의 특성을 포함하여 과잉투자가 미래이익반응 계수에 미치는 영향을 조사하고자 한다. 본 연구의 결과는 다음과 같다. 사외이사비율과 초과사외이사비율이 높은 경우, 감사위원회가 설치되어 있는 경우, 소유경영자가 경영하는 기업, 경영자의 임기가 길거나 경영자의 능력이 우월한 경우에는 그렇지 않은 기업에 비해 과잉투자기업의 미래이익반응계수가 높은 것으로 나타났다. 이와 같은 연구결과는 사외이사제도와 감사위원회, 경영자의 특성을 배제한 상태에서 과잉투자기업에 대한 해석을 하는 것은 한계가 있음을 제시하고 있으며, 사외이사제도와 감사위원회, 경영자의 특성은 경영자의 과잉투자결정에 의미있는 영향을 미칠 것이라는 것을 나타낸다. Although the results suggest that corporate investment leads to high performance, studies have shown that overinvested companies can negatively affect future performance in the long run as their profitability deteriorates and they bear excessive cash flows. This is because the investment activities of the entity are carried out not for the purpose of making an investment decision for the value of the entity but for the purpose of pursuing the management's own private interests. Kim and Kim(2021) suggest that overinvestment activities were for the benefit of individual managers rather than for the purpose of improving corporate value, and that stock prices did not reflect information on future earnings. Therefore, this study examines whether the market's interpretation of an entity's overinvestment depends on the outside directors, the audit committee, and the manager's characteristics, which are known to be able to efficiently control management's private profit-seeking. This is because companies with outside directors and audit committees can efficiently control management's private profit-seeking activities, and the quality of accounting information is different and future management performance is different. This study empirically examines the effect of company characteristics on relationship between overinvestmnet and future earnings response coefficient. our research results as follows. Future earnings response coefficient of the company with that have an outside director or an audit committee, or owner manager, or longer manager’s term, or superior manager ability is relatively higher than otherwise. These results imply that investors cannot reasonably predict the future profits of overinvest-companies, but that overinvestment in companies with stronger governance was aimed at increasing long-term corporate value by efficiently controlling managers' pursuit of private interests. The contribution of this study was that rather than simply examining investors' reactions to overinvestment, it was necessary to consider the characteristics of companies, the outside director, audit committee, and managers that can efficiently monitor and control opportunistic behavior of managers.

광화학적 방법을 통한 InP계 양자점 표면결함 부동태화 연구

김도연,박현수,조혜미,김범성,김우병,Kim, Doyeon,Park, Hyun-Su,Cho, Hye Mi,Kim, Bum-Sung,Kim, Woo-Byoung 한국분말야금학회 2017 한국분말재료학회지 (KPMI) Vol.24 No.6

In this study, the surface passivation process for InP-based quantum dots (QDs) is investigated. Surface coating is performed with poly(methylmethacrylate) (PMMA) and thioglycolic acid. The quantum yield (QY) of a PMMA-coated sample slightly increases by approximately 1.3% relative to that of the as-synthesized InP/ZnS QDs. The QYs of the uncoated and PMMA-coated samples drastically decrease after 16 days because of the high defect state density of the InP-based QDs. PMMA does not have a significant effect on the defect passivation. Thioglycolic acid is investigated in this study for the effective surface passivation of InP-based QDs. Surface passivation with thioglycolic acid is more effective than that with the PMMA coating, and the QY increases from 1.7% to 11.3%. ZnS formed on the surface of the InP QDs and S in thioglycolic acid show strong bonding property. Additionally, the QY is further increased up to 21.0% by the photochemical reaction. Electron-hole pairs are formed by light irradiation and lead to strong bonding between the inorganic and thioglycolic acid sulfur. The surface of the InP core QDs, which does not emit light, is passivated by the irradiated light and emits green light after the photochemical reaction.

인도네시아 전통주택의 의장 특성에 관한연구 - 자바주택을 중심으로 -

김도연,주서령,오혜경,Kim, Do-Yeon,Ju, Seo Ryeung,Oh, Hye-Kyung 한국주거학회 2014 한국주거학회 논문집 Vol.25 No.6

The purpose of the study is to understand the unique characteristics of decoration style in traditional Javanese houses. Reviewing literature and visiting site were applied as the research method. Javanese House can be divided into three parts; roof, wall and floor. First, the roof of the traditional Javanese House is the most unique and important decorative element. The roofs are covered with roof-tiles and have clay carving ornaments on top. Usually there are no ceilings, just exposed to the oblique shape roof, which are made of wood to enable air ventilation. Joglo roof is the outstanding and representative roof type of Javanese houses. There is artistic and constructive roof structure named as tumpang sari in Joglo roof. The decoration on tumpang sari is the most colorful and symbolic ornaments. Secondly, the most unique element in the wall is the gebyok. Gebyok is made of wood and full of carved ornament, which has an artistic appearance, and also important function. The top part of doors are designed as perforated woodcarving, which give both aesthetic and ventilation purposes. Last, the stratified floor is begin with ground yard, then veranda that made from hardened clay, and main room constituted with a wood scaffold to provide air circulation and remove the humidity of the ground. The decorations of the column stand (umpak) are unique, where usually lotus flower is carved into black stone or lime stone. The outside of the buildings in Java Houses is not decorated by colors or symbols, whereas colors are only used in temples, pavilion or in royal housings. Instead they have carvings and decorations on important structural elements such as columns and beams inside. The ornaments and colors of decorations symbolize their god, ancestors and piece.

사회적 약자를 위한 주거규모의 최소기준 설정에 관한 연구

김도연,윤재신,Kim, Do-Yeon,Yoon, Chae-Shin 한국주거학회 2009 한국주거학회 논문집 Vol.20 No.3

Providing an adequate housing to the socially underprivileged with a weak economic base is the most difficult task of housing policies. Korea established minimum housing standards and has used them for housing policies. However, the level of Korean minimum housing standards is far lower than that of foreign minimum housing standards. Thus, this study made a comparative analysis of Korean minimum housing standards with foreign housing standards in various aspects in order to guarantee housing quality of the socially underprivileged in Korea. In particular, the floor area and ratio of small lease homes are minutely examined to present the actual housing standard of the socially underprivileged. The level of Korean minimum housing standards suggested in this paper is very close to that of Japanese minimum housing standard, which is 37.95 $m^2$ for a 3 member family and just above Chombard de Lauw's pathological limit (36.03 $m^2$). As this research is specifically focused on the establishment of minimum floor area standards for the socially underprivileged, further research should be made in consideration of more specific requirements of various groups for the socially underprivileged.

유럽의 포장 폐기물 발생 및 포장 재료별 재활용에 관한 고찰

김도연,고의석,이학래,심원철,양력명,김재능,Kim, Doyeon,Ko, Euisuk,Lee, Hakrae,Shim, Woncheol,Yang, Liming,Kim, Jaineung 한국포장학회 2017 한국포장학회지 Vol.23 No.1

In order to confirm European packaging waste statistics, this study was investigated annual variability of packaging waste generated, target of recovery and recycling rate for packaging waste and recycling rate of European countries based on Eurostat database. Eurostat is regional society statistics organization designated by European community to distribute development, production and European statistics. From 2005 to 2013, paper and paperboard packaging were generated the largest amount among the total amount of packaging waste generated during the period and the share of main packaging materials were generally constant among the packaging materials. In addition, European Union member countries have established target for the recycling rate and recycling rate for packaging waste which has been well maintained by most EU countries since the 2008 directive was enacted. The recycling rate for whole packaging waste such as glass, paper and paperboard, metal, plastic, wood continues to increase in Europe. In this study, Europe packaging waste statistics were organized and analyzed as yearly transformation of Europe packaging waste occurrence and disposal, recycling rate and recovery rate target value of Europe countries and recycling rate of each country in Europe base on centralized Eurostat database. Moreover GDP reduction were also confirmed due to trend changes and indirect impacts such as economic slump by packaging waste and recycling. 유럽의 포장 폐기물 통계를 다양한 관점에서 확인하기 위해서 Eurostat의 데이터베이스 중심으로 유럽의 포장 폐기물 발생 및 처리의 연도별 변화, 유럽 국가들의 재생률과 재활용률 목표 그리고 유럽 국가별 재활용률로 정리하여 분석하였다. 2005년부터 2013년까지 기간 동안의 모든 포장 폐기물 발생량에서 포장 재료 중 종이 및 판지가 가장 많이 생산되었음을 확인하였으며, 주요 포장 재료의 점유율 성장 추이에서는 대체적으로 포장 재료 간 일정한 추세를 확인하였다. 또한 유럽 연합 회원국들은 포장 폐기물 재생률과 재활용률 목표 지침을 제정하고 있는데, 2008년 이 지침이 제정된 후로 대부분의 EU 국가들이 잘 지키고 있었다. 마지막으로 Eurostat에서는 포장 폐기물의 양과 재활용된 양을 유리, 종이 및 판지, 금속, 플라스틱, 목재 등의 포장 재료별로 폐기물의 재활용 비율을 산출하고 있는데, 유럽의 전체 포장 폐기물의 재활용 비율의 경우 계속해서 증가하는 추세를 확인하였다. 이를 통해 EU 국가별로 포장 재료별 폐기물의 양과 재활용된 양을 비교 분석하고 이러한 추세 변화에 따른 GDP 감소와 경제적 슬럼프와 같은 포장 폐기물과 재활용에 따른 간접적인 영향력도 확인할 수 있었다.

공유주택 공급 및 계획기준 설정 방안연구 - 국외 공유주택의 제도적 특성분석과 국내 함의를 중심으로 -

김도연,Kim, Do Yeon 한국주거학회 2015 한국주거학회 논문집 Vol.26 No.1

The number of 1 or 2 households is rapidly increasing due to the participants of women in the working society, the increment of unmarried men, and the change in family structure. The current housing market and the housing administration focuses more on the bigger number of households so that single person households are being neglected. As more individuals move to the capital, living in the city for a single person household has become very difficult. Sharing has become an important aspect among the society and shared housings have hit the minds of single person households as a new way of living. Comprehensive properties, boarding houses, housings for studying (Go-Si-Won), and officetels match the ideas of shared housings. The absent of clear standards on private rooms and shared facilities is making the living very challenging. This study aim to understand foreign (England, Australia, and Japan) institutional characteristics for shared housings to build foundations in order to bring in shared housings into Korea. The residential concept can not be applied to shared housings in Korea directly since the idea of living is different for each nation and its cultural distinctions. However, a clear classification and standards on shared housings depending on the size of the house and number of residents are needed alongside with an index of principles and residential criteria.

기술연재(1)- 인터넷비즈니스

김도연,Kim, Do-Yeon 한국데이터베이스진흥원 1999 디지털콘텐츠 Vol.10 No.-

인터넷 프로모션은 적은비용으로도 큰 효과를 가져올 수 있다는 것과 손쉽게 접근할 수 있다는 것이 큰 장점이다. 하지만 이러한 인터넷 프로모션도 보다 효과적으로 수행하기 위해서는 체계화 되고 전략적인 프로모션의 수행이 필요하다. 이번 호에서는 체계적인 인터넷 프로모션 전략 및 체크포인트에 대해 살펴본다.

임종돌봄에 대한 교육의 필요성: 2개 대학병원의 인턴을 대상으로 예비 분석

김도연,김경지,신성준,권복규,남은미,허대석,이순남,Kim, Do Yeun,Kim, Kyong-Jee,Shin, Sung Joon,Kwon, Ivo,Nam, Eun Mi,Heo, Dae Seog,Lee, Soon Nam 한국호스피스완화의료학회 2017 한국호스피스.완화의료학회지 Vol.20 No.2

목적: 본 연구는 2개 대학병원의 인턴을 대상으로 임종돌봄에 대한 교육 현황을 파악하고자 하였다. 방법: 2개 대학병원의 64명의 인턴들에게 구조화된 설문지를 배포하여 임종돌봄 교과과정의 강의습득 경험과 임상견학 경험 여부를 확인하였다. 또한 임종돌봄 관련 교육이나 진료에 대한 태도를 평가할 수 있는 7개의 자가평가질문을 파악하였다. 결과: 임종돌봄 교과과정 강의 습득과 임상실습 견학 개수의 평균은 각각 5개(총 영역 개수: 9)와 2개(총 영역 개수: 7)였다. 가장 많이 교육받은 항목은 나쁜 소식 전하기(96.9%)였고 임상실습 동안 가장 많이 견학한 항목은 신체증상 조절(56.5%)였다. 그러나 사전연명의료의향서를 포함한 의사소통 영역에 대한 경험은 20% 미만이었다. 임종돌봄 단독 교과목 교육군은 그렇지 않은 군과 비교하여 임종돌봄 교과과정에 대한 만족도, 관심도, 준비됨의 7가지 항목에서 모두 유의하게 긍정적인 답변을 하였다. 결론: 본 연구는 임종돌봄이 필요한 환자를 진료해야 하는 인턴들이 임종돌봄에 대한 교과과정 습득과 임상경험이 매우 부족함을 관찰하였다. 추후 국내 임종돌봄 교육에 대한 의과대학교육의 전체적인 상황을 파악하여 관련된 적절한 지식과 기술을 연마하는 교육체계를 세울 필요가 있다. Purpose: This study was performed to explore the current state of end-of-life (EoL) care education provided to new interns at two university hospitals. Methods: A questionnaire was given to incoming interns (N=64). The levels of acquired knowledge and experience of clinical observation were measured. Seven areas for self-assessment questions were identified and used to analyze the interns' attitudes towards EoL-related education and practice. Results: On average, participants learned five elements (nine in total) from EoL-related classes and two (seven in total) from clinical observation. The most frequently educated element was how to deliver bad news (96.9%) in the classroom setting and how to control physical symptoms (56.5%) in clinical observation. Less than 20% received training on EoL care communication, including discussion of advanced directives. Compared with participants who had no EoL training, those who had EoL training showed positive attitudes in all seven categories regarding overall satisfaction, interest and preparedness in relation to EoL-care classes and practice. Conclusion: Although interns are responsible for caring of dying patients, their EoL training in classroom and clinical settings was very insufficient. Further research should be conducted to establish an education system that provides sufficient knowledge and training on EoL care.

Breast implant-associated anaplastic large cell lymphoma: a case report with a history of spontaneously resolved late seroma

김도연,허준,한우연,민경현,이종원,엄진섭,Hyun Ho Han,Eun Key Kim 대한미용성형외과학회 2021 Archives of Aesthetic Plastic Surgery Vol.27 No.4

We report a case of breast implant-associated anaplastic large cell lymphoma (BIA-ALCL), which had a history of spontaneous resorption of late seroma before diagnosis. A 47-year-old woman with a history of augmentation mammoplasty with round textured implants in January 2013 presented with a swelling on her right breast 6 years later, which was diagnosed as late seroma with suspected intracapsular rupture using ultrasonography (USG). Although aspiration was not done at the time of the initial USG, the seroma resolved spontaneously within weeks. A further workup proceeded with USGguided aspiration followed by magnetic resonance imaging. Cytology of the aspirated fluid showed atypical cells. Cell block cytology and immunohistochemical staining confirmed the diagnosis of BIA-ALCL. En bloc resection with total capsulectomy and explantation was performed as curative surgery. Pathologic stage pT2N0M0 was confirmed and the patient was followed up without further treatment. Although the classic presentation of BIA-ALCL is known as late persistent seroma, an atypical manifestation such as spontaneous resorption may occur, as in the current case. A high level of suspicion and a thorough investigation with appropriate modalities will make it possible to detect this rare and potentially devastating disease.

고온 롤 라미네이터용 멤브레인 구조 필름형 압력 센서 개발

김도연,이태경,강필식,Kim, Do-Yeon,Lee, Tae-Kyung,Kang, Pil-Sik 한국산업융합학회 2020 한국산업융합학회 논문집 Vol.23 No.6

Demand for pressure sensors is increasing in various fields such as machinery, healthcare and medical care. A recent study is being conducted to create sensors that are more sensitive and have longer linear sections based on measurement principles. In this paper, a film-type sensor with a membrane structure was developed to measure the pressure distributed in the axial direction of a hot roll laminator. Performance of sensors was evaluated by resistance and durability according to membrane diameter. The resistance of the membrane sensor varies according to the contact state and contact area of the electrode. Therefore, the membrane diameter selection is important. Experiments showed the most pronounced variation in resistance under pressure at 8 mm in diameter of membrane. Reliability evaluation of sensors was carried out at room temperature and high temperature. The pressure on the sensor was pressurized 1000 times to measure the initial resistance and the resistance after the evaluation to analyze the change. Sensors showed stable results with low resistance changes of 5.15% and 6.27%, respectively. A large area sensor manufactured using the developed sensor also showed reliable results.