GIS S/W의 지리정보 처리기법을 이용하여 얻을 수 있는 수리지형 특성인자는 사면안정성 분석이나 하천환경 분석 등과 같은 다양한 수문학적 응용 연구의 기본적인 정보로 사용된다. 또한 실무적으로 적용 가능한 GIS의 확장 프로그램들은 이러한 기본 정보 뿐 만 아니라, 이전에는 복잡한 정보처리과정을 통하여 얻을 수 있었던 특성 정보들을 체계화되고 자동화된 과정을 통하여 손쉽게 분석이 가능하도록 하고 있다. 본 연구에서는 GIS S/W 수리응용 연구에서 확장 프로그램의 실제적인 적용성을 살펴보기 위하여 ArcView GIS S/W와 이를 기반으로 한 수리정보 분석 프로그램 등을 이용하여 예미지역(1:50,000)의 유수 및 지형인자를 추출하였으며, 여러 가지 매개변수를 통하여 사면안정도에 대한 평가분석을 예시하였다. 본 연구 결과로 확장 프로그램들을 이용하여 얻은 정보들은 실제 정보와 높은 상관도를 보이는 것으로 나타나서, 현장에서의 직접적으로 활용이 가능한 것으로 나타났고, 본 연구 대상지역내의 전반적인 사면안정도는 사면안정지수와 S-A Plot의 적용 결과로 이론적으로는 비교적 안정적인 것으로 나타났다. 본 적용 방법은 실제측정치와 함께 수리지형 특성과 관계된 기타 지역에 적용이 가능하다.

This study examines whether auditors restrain the analysts’ opportunistic behavior as reviewing the companies’ interim reports. Analysts' forecasts show a walkdown pattern in which their optimism has decreased as the earnings announcement date has approached. At the beginning of the year, there is a lack of high-quality benchmark information that enables information users to judge the accuracy of analyst’s earnings forecasts. Thus, early in the year, analysts are highly inspired to disseminate optimistic forecasts in order to gain manager’s favor. In this study, we examine adequate benchmarks prevent analysts from disclosing optimistically biased forecasts. We conjecture that auditors’ efforts might mitigate analysts’ walkdown pattern. To test this hypothesis, we use data from Korea, where it is mandatory to disclose auditor’s review hours. We find that the analyst forecast’s walkdown decreases with the ratio as well as the number of audit hours. It implies that an auditor's effort in reviewing interim financial information has a monitoring function that reduces analysts' opportunistic optimism at the beginning of the year. We conjecture that the tendency will be more pronounced when BIG4 auditors review the interim reports. Consistent with the prediction, BIG4 auditors’ interim review effort is more effective in suppressing the analysts’ walkdown.

This paper attempts to measure the impact of non-financial factors including analyst practices and broker resources on performance of sell side research. Results reveal that these non-financial factors have a measurable impact on performance of target price forecasts. Number of pages written by an analyst (surrogate for analyst practice) is significantly and directly linked with target price accuracy indicating a more elaborate analyst produces better target price forecasts. Analyst compensation (surrogate for broker resource) is significantly and inversely linked with target price accuracy. Out performance by analysts working with lower paying firms is possibly associated with motivation to migrate to higher paying broking firms. The study finds that employing more number of analysts per research report has no significant impact on target price accuracy –negative coefficient indicates that team work may not result in better target price forecasts. Though insignificant, long term forecast horizon negatively affects target price accuracy while stock volatility improves target price accuracy.