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This study aims to test the pricing of earnings quality. Earnings quality measure is the absolute value of discretionary accruals. The expectation is negative relation between earnings quality and abnormal rate of return or earnings response coefficients(ERC).Test period is from 2001 to 2004 and the samples are selected from public, manufacturing and audited firms. The empirical results show that there is no relation between discretionary accruals and abnormal rate of return and that there is negaive relation between the absolute value of discretionary accruals and abnormal rate of return. The emprical results mean that discretionary accruals can have posive or negative impact on the price. But if the absolute value of discretionary accruals is the measure of earnings quality, the results mean that the higher earnings quality is, the higher earnings response coefficients is

Stochastic Frontier Analysis (SFA) is a modified econometric approach to the estimation of productive efficiency. Since MATLAB has a syntax similar with the matrix algebra, one can easily create and understand MATLAB code for SFA. A simple MATLAB module called "SFAALS" and its illustrative implementation with an input-output data set of 90 American university research libraries are provided.

This paper examines the efficiency of cash flows for the listed korean manufacturing companies. To evaluate the individual information value of cash flows, regressions using market model with standardized data are estimated for operating cash flows. Accounting incomes is then added to the model to measure the incremental value relevance. And period and industry impact on the value of cash flow information is also taken into consideration in the subsequent analysis.The cash flow information turned out to have significant information value as all independent variables in the model, indicated statistically significant coefficients and directions predicted. Similar results were also found in the incremental value analysis. The analysis informs that operating cash flows appear to have more explanatory power to standardized cumulative abnormal returns than accounting income variables. Subsequent analysis shows that year and industry do have significant impact on the information value, implying that the value of cash flow data is contextual in its nature as previous studies suggested.

The purpose of this study is to analyze efficiency and productivity changes of Korean accounting firms for the 1997-2005 period. Further, we also examine efficiency change, pure efficiency change, scale efficiency change and technical change over time to address what factors have driven the productivity changes of Korean accounting firms. To explore our research question, we use DEA (Data Envelopment Analysis) developed by Charnes, Cooper, and Rhodes(1978) and Banker, Charnes, and Cooper(1984) and Malmquist productivity index developed by Fare, Grosskopf, Norris, and Zhang(1994). Total number of employees and total assets of accounting firms are used as input variables, and auditing revenue, taxation revenue, and management advisory service revenue are used as output variables. The main results of our paper are summarized as follows. First, our cross-sectional analysis in 2005 shows that the technical efficiency of Korean accounting firms averages 0.764, the pure technical efficiency 0,811, and the scale efficiency 0.944. Out of total 78 accounting firms, 50 firms indicate that they are under increasing returns to scale. Second, our time-series analysis demonstrates that yearly average technical efficiency decreased sharply in 2002 after the Korean Ministry of Finance and Economics loosened the establishment criteria for new accounting firms. This decrease in the average technical efficiency was caused by Non-Big4 accounting firms, not by Big4 accounting firms. Third, our Malmquist productivity index analysis reveals that overall yearly productivity improves over time because technical change has made a positive impact on the productivity changes of Korean accounting firms over the 1997-2005 period. However, the productivity improvement is smaller for the period in which the new establishment criteria for new accounting firms have been applied since 2001.

This paper is to introduce a benchmarking process for the management of batting performance of baseball players by evaluating the technical efficiency in batting performance of baseball players and super-efficiency and by estimating similarity among players. The results show that there exists a substantial opportunity for improvement and the heterogeneity in technical efficiency in batting between players. Super-efficiency allows for ranking efficient players as well as inefficient players. Similarity together with super-efficiency identifies 6 benchmark players whom inefficient players target for improvement. Moreover, the salary for players is not consistent with the batting performance of players.

This paper employs stochastic frontier mroduction models to an unbalanced panel data with fifty three iron companies during the period of 1978-2002. The technical efficiency decrepancy between the sample iron companies is found to be statistically significant and technical progress in the industry is found during the sample period. According to the empirical results from the effects model, privitization and size influence on technically efficiency positively, but merging soes not have statistically significant effect on efficiency.

A literature review on industrial relations shows that trade unions with bargaining power affect many aspects of human resource management, far beyond the traditional areas like compensation or employee representation. The purpose of this study is to investigate if there is a significant difference in the adoption of human resource management practices between unionized and non-unionized sectors. Specifically, this study deals with 17 practices regarding recruiting/selection, compensation, skill training, job analysis, performance evaluation, and employment-related issue. The data, which are surveyed by the Korea Productivity Center (KPC) in 2006, are utilized here for the first time. A simple cross-tabulation analysis seems to show a positive relationship between unions and the adoption of practices. However, the results from a probit analysis controlling other factors, which may influence the adoption of practices by firms, reveal that the existence of trade unions is unlikely to increase the adoption of most practices, except only three or four such as job analysis, outplacement program, and education-related practice(s). These results imply that trade unions are unlikely to affect human resource management beyond compensation issues, contrary to general belief. It is uncertain for now whether the results reflect powerlessness of unions or an assimilation trend between the two sectors, with regard to human resource management.

In Rapid Changes of Business environment, the way of being competitive is a innovation. Innovation is necessary for sustaining firm's competitive advantage.The study has following objectives: First, an objective of this studies proves relations between a social capital and an innovation performance. Second, studies proves a moderating effects of a psychological capital through theory study, an empirical analysis. In accordance with results of a hypothesis verification, first, a social capital affects positively a innovation performance. this results present that keeping an organic trust relation among members of the community and keeping active communications between a personal and organizations through shared mean systems affect positively organizational innovations. Second, in accordance with analysis results of a psychological capital, verified a moderating effects of a psychological. This results mean that the more a psychological capital an organization has among members, the higher an innovation performance becomes. This results have means any of the following. First, this studies contribute to an organization innovation. through preceding studies and multidimensional theories, this studies expand a researches cope. There is not enough preceding studies of intangible Assets. so that this studies have made a significant mean. Second, this studies prove a general idea, a pattern, performance relationships through of studies a psychological capital that is the primary stage. also studies present studies scope of a psychological capital. Third, this studies look deeper theory social capital studies and present a new study scope about a social capital studies that is studied only partially.

Based on the assumption that students and industries are the customers of business education, this study investigated their needs on business education and presented a direction for business education. For the study, survey questionnaire were delivered to students, current curricula on business education were analyzed, industry opinions were collected, companies management philosophies and HR prototypes were analyzed, and company education programs for new-hired employees were analyzed. Result of this study suggests the necessity of changes in business education. Especially, strongly suggested are the understanding the demands of customers, adopting track-based curriculum system, expanding internship program, and emphasis on the education of communication skills and business ethics.