KJC Korea
Journal Central

This study examines the relationship between the cash conversion cycle and the stock price of food service industry firms. The sample is firm-year data belonging to 38 firms in the food service industry listed on the Korean exchange from 2010 to 2017. Considering that the sample had properties of the panel data, a panel regression model was employed for the analysis. The main results of the study are as follows. First, there was a significant negative (-) relationship between the stock price and the cash conversion cycle of food service industry firms. This means that the shorter the cash conversion cycle, the higher the value of the shares. Based on this result, it can be inferred that reducing the investments of working capital would be an efficient working capital management policy for sample firms. Second, in the analysis of the effect of financial constraints on the relationship between the cash conversion cycle and the stock price, it was confirmed that the effect was not significant. This result implies that financial constraints are not considered to be a factor that would change the working capital management policy of food service firms. This study is meaningful in that it is the first study to investigate the impact of the cash conversion cycle and the firm value for firms in the food service industry listed on the Korean exchange.

The purpose of this study was to analyze subjective perceptions of Chinese and Korean visitors attending a Hallyu culture festival using Q methodology and then to compare the differences between the two groups. Cohen’s concept that tourism motivation and experience may differ depending on the difference of perceptions between self-culture and other-cultures was used as a framework for the analysis of visitors to the Busan One Asia Festival (BOF). As a result, the subjectivity of Chinese visitors was divided into four factors, whereas the subjectivity of Koreans was divided into three. From these factors, several meaningful results could be derived. First, the Korean Wave contents and their experience competitiveness were commonly recognized by Chinese and Korean visitors. Second, while the Chinese group placed relative importance on cultural exchanges, the Korean group was more focused on escape from daily life. Finally, this study proposed various strategies for developing contents and promoting festivals in order to expand the cognitive scope of festivals concentrating on K-pop.

This study explores the changes of awareness of social capital among the residents of four rural communities in South Korea according to the temporal flow. A survey was conducted for a total of four times over two years at intervals of every six months. This study conducted ANOVA analysis with residents’ questionnaires and compared changes in the four latent factors of social capital. As a result, community residents' perceptions of social capital rose steadily from the start until the end of the study, and it was confirmed that the upward trend would decrease over time. In addition, the perception of institutional structural factors of social capital was relatively higher than at the beginning of the study, and the associative network factor had a relatively low perception compared to the other three factors of social capital. The major contribution of this study is confirming that the perception of community residents was continuously rising for the four social capital factors, and that the recognition level of the factors was also different in each period.

This study concerns the meaning and various states of residents’ participation as hosts of regional tourism through the practice of being local guides in the local guide project Nagasaki-Saruku in Japan. To achieve the objective, the author attempted to understand the phases and values ​​that guiding occupied in the daily lives of the residents through a one-year participation observation. As a result, firstly, participants and tour guides closed the gap in tourism through dialogue, consequently forming a reciprocal relationship such as a tour guide receiving admiration from participants through dialogue as opposed to a one-sided and vertical relationship. That was important to motivate guides. Secondly, Saruku guides continued to guide for 10 to 20 years after childrearing and retirement. Also, the acquisition of a network and a social role in the local community obtained through local guide activity affected the duration of tour guide activity. Therefore, social support for the guides of the senior generation who actively participate in the community through tourism is necessary.

The purpose of this study was to examine the direct influential relationship between residents’ perception toward tourism development in Jeju Special Self-Governing Province and development support, and to investigate whether local resident attachment played a moderating role. A total of 380 questionnaires were distributed to local residents who lived in Jeju city. The usable 373 samples were analyzed by multiple regression analysis and hierarchical regression analysis. The findings from this study are as follows. First, it was found that the willingness to support tourism development was significantly affected by the positive perception of economic/environmental impact and the positive/negative perception of sociocultural impact. Second, it was identified that local attachment (dependency) had a moderating effect on the relationship between tourism impact perception and its support. The paper concludes with recommendations for sustainable and successful strategies for Jeju’s further tourism development with theoretical and practical implications discussed.

This study analyzed Korean travel trends using big data focused on family travel and solo travel as emerging world tourism trends. FIT is divided into family travel and solo travel. Social data were collected using search keywords of “family travel” and “solo travel,” and social network analysis was utilized. The results of analysis showed word frequency, n-gram (2-gram) frequency, travel attributes, centrality, and structural equivalence in the networks of family travel and solo travel. This study is meaningful in adopting network analysis as a new methodology and improving the efficiency of research by saving time and cost through big data analysis. This study can be useful as academic material in showing not only travel behaviors of family and solo travelers but also Korean cognition of each travel type.

The purpose of this study was to examine the significance of the meaning and experience of traditional leisure activities in mountain and stream areas and urban residents’ social pathology. The results of the study are as follows. The study used the phenomenological analysis method of qualitative research, employing 81 meaningful original data and 35 meaningful statements. A total of 12 sub-themes, four topics, and four dimensions were found. Those who migrated to urban areas as a result of industrialization failed to adapt to the new community of the city and suffered conflicts related to social pathology. However, participation in recreational activities in natural mountain and stream areas where the emotions of their hometown could be felt bolstered their self-esteem. Finally, through participation in nature-friendly recreational activities, trust, consideration, and cooperation among human beings were found to be important.

The purpose of this paper was to examine the safety awareness of female college students through the third-person effect. Safety means that there is no real fear that a person might be put in a dangerous situation. Third-person effect theory is that a person who is exposed to a negative event or content in the media recognizes that others might be affected more than he or she is. In other words, the third-person effect is mainly related to negative content, such as suggestive, violent, and/or negative reporting. This study conducted interviews on the recent murder of a female college student at a Jeju guest house to identify the link between the media reports and the third-person effect, specifically around Hongik University. According to the results of the interview, the effect of the media reports was revealed by the expansion of a sense of safety at tourist attractions. Also, this study derived social distance, frequency of exposure to media reports, and attitude toward inmates as factors that constitute third-person effect. The implications of this study help explain the influence of media reports on sex crimes as related to the third-person effect.

The purpose of this study was to investigate if optimistic bias had an influence on tourist destination switching intention and risk reduction behavior. For the study, four hypotheses were formulated based on previous studies, and a survey was conducted. According to the findings, first, there existed optimistic bias in perceiving destination risk, indicating that respondents had a feeling that others were at more risk at a tourist destination than they were. Second, age only had an impact on the optimistic bias of accident risk. The result was different from previous studies in that the higher the age, the higher the optimistic bias. The reason for this result can be assumed to be that the older respondents of this survey had a feeling of insecurity because they had taken fewer overseas trips. Third, optimistic bias had an impact on tourist destination switching intention and risk reduction behavior. The findings suggest ways that destinations with a risk of accidents can better manage tourists.

The purpose of this paper was to examine the role of genre-specific television viewing on dark tourism motivation and satisfaction. To address this question, this study used SEM. Three different parts of the result were found from a survey of 354 domestic visitors to dark tourism sites. First, broadcasting programs positively influenced dark tourism educational motivation, which affected satisfaction. Second, cognition of general destination attributes did not interrupt the relationship between television viewing and dark tourism. Third, satisfaction with dark tourism destination attributes greatly affected dark tourism satisfaction. Ultimately, this research suggests empirical methods to dark tourism media marketing and gives specific advice for dark tourism marketing.

This study started from the recognition that islands should be developed differently from the mainland because of their specific characteristics such as isolation, narrowness, and being surrounded by the sea. Studies on island tourism have been conducted on the tourism development stage, management model, competitiveness indicators, island image, island selection attributes, experience quality, and revisitation. However, there are few studies on small island tourism development. The purpose of this study is to develop an island tourism development measurement scale to evaluate the conditions of tourism development according to the conditions of the island area, to evaluate the appropriate direction of tourism development, and to apply it to the islands around Jeju Island to examine its applicability. Based on the previous studies on the scales of tourism development related to islands, appropriate scale items for island tourism development were derived and the reliability and validity of the scales were verified by analyzing the results of the questionnaire survey. In this process, factor analysis was conducted using SPSS. The results of this study can be used as basic data for tourism development in small island areas due to lack of research on island tourism development..

The purpose of this study was to examine the environmental and ecotourism impacts of the Khuvsgul region in Mongolia and to suggest some implications for tourism policy in the development of ecotourism in Mongolia. For this purpose, a questionnaire survey was conducted to the residents of Khuvsgul. The results of the analysis are as follows. First, differences appeared depending on the demographic characteristics of the Khuvsgul area residents; particularly, men had a higher awareness of the natural environment, and women were more likely to be in harmony with nature. Second, women were more likely to be eco-tourism-influenced by men. For the occupational group, public officials perceived more negative economic aspects than other occupational groups. This seems to be more sensitive because officials are responsible for directly managing the occurrence of various regional problems. Finally, it was found that balance (harmony with nature) lowers the adverse effects of ecotourism. This is because proper tourism development recognizes that the environment of the area should be preserved and should contribute to regional development. Therefore, ecotourism in Mongolia would be necessary not only for economic benefits but also for minimizing environmental damage based on conservation. Until now, various development including tourism has not been able to occur harmoniously with the environment, and negative influences can be seen in the Khuvsgul region. In the future, various efforts will be needed to ensure that ecotourism has an appropriate balance with the natural environment of the area. In particular, it is necessary to establish a system in which local residents can participate as a subject, not as an object, of local tourism. Various efforts will be needed to make the system and development necessary for tourism development. natural environment of the area. In particular, it is necessary to establish a system in which local residents can participate as a subject, not as an object of local tourism, Various efforts will be needed to make the system and development necessary for tourism development together.