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Ingoo Han
College of Business, Korea Advanced Institute of Science and Technology (KAIST), Seoul 02455, Korea

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Journal article
Published: 09 December 2020 in Sustainability
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This study investigates whether recognized accounts receivable (AR) factoring is more value relevant than disclosed AR factoring. After the adoption of the Korean International Financial Reporting Standards (K-IFRS), AR factoring is recognized as short-term debt, thus increasing firms’ leverage ratio. Using cross-sectional equity valuation regressions, we find that recognized AR factoring is value relevant, unlike disclosed AR factoring. Moreover, the market value of equity and AR factoring are more significantly correlated in highly leveraged firms than in less-leveraged ones. Accounting data are important from the perspective of big data. In the accounting industry as well, professionals started realizing the implications of big data. The COVID-19 pandemic has created a health crisis and wreaked havoc in an already-fragile global economy. Although there is no way to predict exactly what the economic damage from the COVID-19 pandemic will be, there must be widespread agreement that it will have severe financial impact on every company. Global financial markets have suffered dramatic falls due to the pandemic, and highly leveraged companies are in serious need of financing. While diving deeper, sound debt management and debt transparency are critical to ensure debt sustainability. Thus, companies would be willing to use AR factoring in order to overcome this financial status. This study also shows that highly leveraged firms decrease AR factoring after K-IFRS adoption.

ACS Style

Jung Park; Hyoung Lee; Sang Park; Ingoo Han. Value Relevance of Accounts Receivable Factoring and Its Impact on Financing Strategy under the K-IFRS after COVID-19 from the Perspective of Accounting Big Data. Sustainability 2020, 12, 10287 .

AMA Style

Jung Park, Hyoung Lee, Sang Park, Ingoo Han. Value Relevance of Accounts Receivable Factoring and Its Impact on Financing Strategy under the K-IFRS after COVID-19 from the Perspective of Accounting Big Data. Sustainability. 2020; 12 (24):10287.

Chicago/Turabian Style

Jung Park; Hyoung Lee; Sang Park; Ingoo Han. 2020. "Value Relevance of Accounts Receivable Factoring and Its Impact on Financing Strategy under the K-IFRS after COVID-19 from the Perspective of Accounting Big Data." Sustainability 12, no. 24: 10287.

Journal article
Published: 03 September 2020 in Sustainability
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This paper examines the value relevance of corporate environmental performance (CEP) using individual environmental performance indicators and multidimensional constructs derived from Trumpp et al. (2015). Accounting information can be described as ‘value-relevant’ when the information in financial statements has the ability to explain firm value. In recent years, stakeholders such as governments, public institutions, firms, customers, and local communities have recognized the importance of corporate environmental performance. Thus, one of the main research questions is whether corporate environmental performance is value relevant. The empirical results in this paper indicate that only a few individual environmental performance indicator variables are value relevant, while most environmental performance constructs have a significant impact on firm value. Our findings suggest that firm value significantly increases with improved environmental management or operational performance. In addition, environmental performance indicators and environmental performance constructs have a significant impact on firms in environmentally sensitive industries, confirming the notion of higher value relevance of environmental information for firms in these industries. This study contributes to prior literature by carrying out a comprehensive analysis on the multidimensional nature of corporate environmental performance and its impact on value relevance. This paper also reconciles extant literature on the construct validity of environmental performance indicators and environmental performance constructs by formulating standardized composite measures of CEP following Larker et al. (2007).

ACS Style

Hyunwoo Choi; Ingoo Han; Jaywon Lee. Value Relevance of Corporate Environmental Performance: A Comprehensive Analysis of Performance Indicators Using Korean Data. Sustainability 2020, 12, 7209 .

AMA Style

Hyunwoo Choi, Ingoo Han, Jaywon Lee. Value Relevance of Corporate Environmental Performance: A Comprehensive Analysis of Performance Indicators Using Korean Data. Sustainability. 2020; 12 (17):7209.

Chicago/Turabian Style

Hyunwoo Choi; Ingoo Han; Jaywon Lee. 2020. "Value Relevance of Corporate Environmental Performance: A Comprehensive Analysis of Performance Indicators Using Korean Data." Sustainability 12, no. 17: 7209.

Journal article
Published: 24 July 2020 in Sustainability
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Achieving the dual goal of improved environmental and financial performance has become a universal business concern. Our study distinguishes between firms’ environmental behaviors and their environmental performance, a distinction that has been largely disregarded in previous empirical studies that analyze the association between environmental performance and financial performance. As an improvement in environmental performance itself does not necessarily guarantee positive financial returns, our study pays particular attention to the value-added nature of preemptive environmental activities, investigating the effects of plant-level pollution prevention activities (PPAs) on environmental performance and financial performance in terms of cost competitiveness and market valuation. Drawing on detailed environmental information about 18,743 chemical plants in the U.S. and analyzing a multi-level panel dataset constructed bottom-up from plant-level data to their parent firms’ performance data, we find that more intensive PPAs are associated with both superior environmental performance and improved cost competitiveness but do not necessarily lead to higher market valuation. Our study illuminates the specific environmental activities and conditions linked to environmental and financial performance, thereby offering managers practical guidance in pursuing both sustainable and profitable businesses under increasingly stringent environmental standards.

ACS Style

Soyoung Yoo; Jiyong Eom; Ingoo Han. Too Costly to Disregard: The Cost Competitiveness of Environmental Operating Practices. Sustainability 2020, 12, 5971 .

AMA Style

Soyoung Yoo, Jiyong Eom, Ingoo Han. Too Costly to Disregard: The Cost Competitiveness of Environmental Operating Practices. Sustainability. 2020; 12 (15):5971.

Chicago/Turabian Style

Soyoung Yoo; Jiyong Eom; Ingoo Han. 2020. "Too Costly to Disregard: The Cost Competitiveness of Environmental Operating Practices." Sustainability 12, no. 15: 5971.

Journal article
Published: 10 July 2020 in Sustainability
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The recent rapid transition in energy markets and technological advances in demand-side interventions has renewed attention on consumer behavior. A rich literature on potential factors affecting residential energy use or green technology adoption has highlighted the need to better understand the fundamental causes of consumer heterogeneity in buildings’ energy-related behavior. Unresolved questions such as which consumers are most likely to opt into demand-side management programs and what factors might explain the wide variation in behavioral responses to such programs make it difficult for policy-makers to develop cost-effective energy efficiency or demand response programs for residential buildings. This study extends the literature on involvement theory and energy-related behavior by proposing a holistic construct of household energy involvement (HEI) to represent consumers’ personal level of interest in energy services. Based on a survey of 5487 Korean households, it finds that HEI has a stronger association with consumer values, such as preferences for indoor thermal comfort and automation, than with socioeconomic or housing characteristics and demonstrates HEI’s potential as a reliable, integrated predictor of both energy consumption and energy-efficient purchases. The study illuminates the multifaceted influences that shape energy-related behavior in residential buildings and offers new tools to help utility regulators identify and profile viable market segments, improve the cost-effectiveness of their programs, and eventually promote urban sustainability.

ACS Style

Soyoung Yoo; Jiyong Eom; Ingoo Han. Factors Driving Consumer Involvement in Energy Consumption and Energy-Efficient Purchasing Behavior: Evidence from Korean Residential Buildings. Sustainability 2020, 12, 5573 .

AMA Style

Soyoung Yoo, Jiyong Eom, Ingoo Han. Factors Driving Consumer Involvement in Energy Consumption and Energy-Efficient Purchasing Behavior: Evidence from Korean Residential Buildings. Sustainability. 2020; 12 (14):5573.

Chicago/Turabian Style

Soyoung Yoo; Jiyong Eom; Ingoo Han. 2020. "Factors Driving Consumer Involvement in Energy Consumption and Energy-Efficient Purchasing Behavior: Evidence from Korean Residential Buildings." Sustainability 12, no. 14: 5573.