• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.10 no.3
• /
• pp.670-676
• /
• 2009

Bankruptcy of firms in Korea can cause distress of financial institutions because these institutions have disterssed bond. Accordingly, social and economical spill-over effects by these results are very big. Even after the difficult times of IMF crisis had ended, bankruptcy of information-based small-medium companies and venture firms listed on the KOSDAQ has been continued. In this context, this study developed and adopted failure prediction models for which discriminant analysis was used. Samples of this study was 81 firms respectively for both failed and non-failed firms listed on the KOSDAQ between the year of 2000 and 2007. The results of this study are as follows. First, the accuracy of classification of the model by years was $74.5%{\sim}76.5%$, and the accuracy of classification of the mean model was $69.6%{\sim}80.4%$. Among the models, the mean model of -one year, -two years, and -three years was highest in accuracy of classification (80.4%). Second, accuracy of prediction of final model adopted on validation samples showed 85% before one year of bankruptcy. The results of this study may be significant in that the results may be used as early warning system for bankruptcy prediction of KOSDAQ firms.

• International Area Studies Review
• /
• v.20 no.2
• /
• pp.113-140
• /
• 2016

This paper first extracts the main basis for the Middle-Income Trap(MIT) to apply these grounds to reality of the Chinese economy. And then confirmed crisis factors of China economy. Also discussed then the economic reforms of China in order to not fall into the MIT. After reviewing previous research extracted six factors the results will correspond to comply with the Chinese economy. Those are 'Over-investment', 'excess capacity' 'reduction of TFP continued,' 'disappearance and the aging of the population bonus', 'excessive debt and structural adjustment and financial instability of the company', 'income unequal expansion', 'low financial and information infrastructure accessibility', and 'low transparency index'. China's policy direction to avoid the MIT generally set properly, but proof that implementation process not easy, was appearing everywhere. After all, China economy should be modified now to a reforms of 'government failure' and promotion of function for ongoing restructuring system in the market. Because of the SDR incorporation from 2015, it is inevitable to face major constraints in the external aspects.

• Journal of the Korea Society of Computer and Information
• /
• v.15 no.1
• /
• pp.207-217
• /
• 2010

It is taken a violent fall of the international stocks market that was an American Subprime Mortgage Situation. The loss rate of individual investor judged than foreigner and institution by bigger thing. Therefore, further scientific and mechanical investment is needed at the stock investment using Internet HTS. This dissertation is stocks profit rate analysis which uses individual engine foreigner Knowledge Base HTS at the Bear Period the Bear Wave Period the Bull Period the Bull Wave Period. Knowledge Based e-friend HTS was Installed. HTS does composite stock exchange index in actuality stock trading and engine's fund earning rate, yield that is abroad comparative analysis using trend line that is HTS tool, MACD, Bollinger Bands, Stochastic slow's function. Usually, each subjects suppose that deal 5 stocks, and comparative study of the profit(loss)rate of the down to earth falling rate and rising rate, by comparing the earning rate of 5 Small capital stocks with 5 medium capital stocks and 5 Large capital stocks during the bear period, the bear wave period, the bull period, the bull wave period has meaning at the making research of the financial IT field.

• Informatization Policy
• /
• v.28 no.3
• /
• pp.49-72
• /
• 2021

This study analyzes the major content, significances, and future outlook of Three Data Acts amendment enacted in August 2020 in South Korea, with the focus on their impact on the financial and data industries. It seems that the revision of the Credit Information Act will enable the specification of a business which had previously only been regulated as the business of credit inquiry, and also enable the domestic data industry to activate the MyData industry, data trading and platforms, and specify data pseudonymization and trading procedures. For the rational and efficient implementation of the amendments to the Three Data Acts, the Personal Information Protection Committee must be as transparent and lawful in its activities as possible, and fairness must be guaranteed. Even in the utilization of personal information, the development or complementation of the related data processing technologies is essential, and clear data processing methods and areas must be regulated. Furthermore, the amendments must be supported with guarantees and the systematization of a fair competitive system in the data market, stricter regulations on penalties for illegal acts related to data, establishment and strengthening of the related security systems, and reinforcement of the system of cooperation for data transfer.

• Journal of Navigation and Port Research
• /
• v.45 no.6
• /
• pp.276-283
• /
• 2021

The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.

• Korean Journal of Labor Studies
• /
• v.19 no.1
• /
• pp.1-34
• /
• 2013

Labor share of income in Korea has fallen from 90% in 1996 to 79% in 2010. This paper explores the factors driving the movements in the labor share of income based on a panel dataset containing 19 years of data on 18 Korean manufacturing industries. The effects of technical progress, globalization and the bargaining power of labor and capital on the labor share of income are tested for the period of 1991-2009. The main empirical results are as follows. (1) Capital-aug menting technical prog ress measured by capital-labor ratio and R&D intensity has a negative effect on the labor share. (2) Market openness measured by the value of export and import as a ratio to value-added production is found to have a positive impact. (3) Globalization of production measured by inward-FDI and outward-FDI as a ratio to total domestic fixed capital is found to have a negative impact on the labor share. (4) Union density is found to have had a statistically significant effect in 1991-1998. This finding is consistent with the efficient bargain model in which firms and workers bargain over both wages and employment. But union density is insignificant in 2000-2009. This implies that since the financial crisis in 1997, the bargaining institution in Korea has been approaching the right-to-manage model in which firms and unions bargain over wages and then firms set employment unilaterally. (5) Variables for domestic financialization measured by dividend-income ratio and financial-fixed assets ratio have an insignificant effect on labor share.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.22 no.2
• /
• pp.248-258
• /
• 2021

The study analyzed the financial determinants of corporate R&D intensity that require more attention from academics and practitioners in the Korean capital market. Domestic small and medium enterprises (SMEs) may face with developing substitutes by making more R&D investments in scale and scope, given the unprecedented economic conditions such as the limitation of importing core components and materials from other nation(s). KOSDAQ-listed SMEs were selected as sample data, whose R&D expenditures may be less than those of large firms during the post-global financial turmoil period (2010~2018). Static panel data model was applied, along with Tobit and stepwise regression models, for examining the validity of results. Logit, probit, and complementary log-log regressions were also employed for a relative analysis. R&D expenditures in the prior year, the interaction effect between the previous R&D intensity and high-tech sector, firm size, and growth rate were significant to determine R&D intensity. Moreover, a majority of explanatory variables were found to change between the years 2011 and 2018, while time-lagged effects between the R&D intensity and growth rate exist. Results of the study are expected to be used for future research to detect optimal levels of R&D expenditures for the value maximization of SMEs.

• Journal of Christian Education in Korea
• /
• v.68
• /
• pp.11-40
• /
• 2021

The coronavirus pandemic has brought about significant negative changes in our society to the point where it has to be divided into 'Before Corona'(BC) and 'After Corona'(AC). Typical examples include economic difficulties and medical inequality of some social excluded groups as well as individuals who die alone because they are alienated from social networks, and hate and violent discrimination against Asian immigrants, which are rapidly increasing in Western countries in these days. In addition, the pandemic is at a global level, ranging from the vaccine gap between the first and third worlds, triggered by competition for securing vaccines between countries that put their own interests first, the income gap due to changes in the economic environment and financial market, and the bankruptcy of individuals and corporations. In 'all'(pan) and 'people'(demos) became a limit situation that could not be avoided. There is also the opinion that the world could witness the worst catastrophe if the pandemic spreads to poor countries at risk of increasing violence, poverty and famine. The purpose of this paper is to examine the changes in society caused by the Coronavirus pandemic and to suggest the direction of Christian education accordingly. To this end, this paper analyzes the medical, economic, and psychological crises that society faces in the post-corona era. Next, we look at the changes in Christian theology, mission, and worship, which are strongly required for fundamental changes in the context of the pandemic. Based on the above discussion, we propose a new direction for Christian education necessary in the post-corona era.

• Korea Trade Review
• /
• v.43 no.3
• /
• pp.1-26
• /
• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Asia Marketing Journal
• /
• v.10 no.3
• /
• pp.103-125
• /
• 2008

After having changed its corporate brand from LG Fire & Marine Insurance to LIG Non-life Insurance in 2006, LIG Insurance has successfully built the corporate image as the leading insurance financial group by engaging in extensive corporate social responsibility activities. LIG, as 'a partner for sharing precious moments of life', intended to provide customers a new value of an insurance by building up the new corporate brand. It established three values to be shared internally. First was to instill a brand value orientation within the organization. Second, the firm identified the brand's value to be delivered to the customers. Third, they defined the image objective to be communicated to them. Based on these set of objectives, the company designed and implemented an integrated marketing communication(IMC) strategy over several years. The result was a successful transition to the new corporate brand name.