• Journal of Digital Convergence
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• v.18 no.12
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• pp.243-249
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• 2020

This study analyzes the earnings management that can occur in the process of public offering in the process of SMEs reducing cost of capital, risks and seeking opportunities for direct financing. Since a company is subject to strict supervision during the IPO process, it is possible to prevent the phenomenon that the company value evaluated in the market is underestimated, or to perform earnings management in consideration of overestimation. This study attempted to verify the degree of earnings management through discretionary accruals and actual earnings management values that can affect the earnings ratio of the IPO of a company. For this study, total accruals were calculated and analyzed through discretionary accruals, sales, costs, and actual earnings management adjustments from production activities. As a result of the analysis, discretionary accruals, which are the countermeasures for earnings management during the listing process, have a positive(+) relationship in both the stock price return and the sales adjustment value, which can be viewed as a factor that induces high valuation. As a result of this, there may be a risk of adverse selection for the benefit amount, and information asymmetry may exist for public offering stocks. This study can provide useful guidelines for evaluating corporate value to domestic SMEs and investors that do business with Chinese companies as well as China through the current and type of earnings management of Chinese listed companies.

• Proceedings of the Korea Water Resources Association Conference
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• 2023.05a
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• pp.99-99
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• 2023

기후변화는 물 관리의 가장 큰 리스크 요인이므로 물 관리 계획을 수립하는 과정에서 기후변화의 영향을 고려하는 것이 필수적이다. 기후변화에 대한 수자원 예측 관련 연구가 이루어지고 있으나, 대부분의 연구에는 수문학적 모델링이나 시뮬레이션이 동반되는데, 이 과정에는 시간과 비용이 많이 들어가며, 지역이나 연구목적에 따른 정밀한 매개변수의 보정은 전문지식이 필요하기 때문에 현업에서 연구결과를 의사결정에 활용하기에는 한계가 있다고 볼 수 있다. 이에 따라 수문학적 모델링의 입력 및 출력 결과를 딥러닝의 학습자료로 하여 수문모델을 사용하지 않아도 효율적으로 결과를 도출할 수 있는 딥러닝 기반 Surrogate 모형에 대한 연구가 이루어지고 있으나 수자원 분야에 접목된 사례는 부재한 실정이다. 따라서 이 연구를 통해 국내 유역을 대상으로 Surrogate 모형을 구축한 뒤, 그 성능을 평가하고자 한다. 이를 위한 Surrogate 모형 구축 과정은 다음과 같다. 충주댐 유역을 대상으로 과거 20년간의 강우 및 기온 자료를 수집한 뒤, 이 자료를 바탕으로 기후변화의 영향을 고려한 3,162개의 시나리오를 생성한다. 그 후 장기유출모형 IHACRES에 생성된 시나리오를 입력자료로 하여 유입량 결과를 도출하고, 이 결과를 Python코드 기반의 딥러닝 학습자료로 하여 최적 예측 결과를 도출해내는 Surrogate 모형을 생성한 뒤 기존 장기유출모형과의 성능을 비교하고자 한다. 이와 같은 Surrogate 모형은 추가적인 데이터와 매개변수의 보정 과정이 없어도 장기유출모형과 같은 결과를 짧은 시간내에 상당히 정확하게 모사할 수 있어 시간과 비용을 줄일 수 있으며, 비전문가도 쉽게 사용할 수 있다는 장점을 가진다.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.35 no.4
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• pp.997-1006
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• 2015

This study analyzed urban infrastructure risk to flooding based on the possibility map of flooding calculated by neural network model focusing on Seoul. This study found that Gangnam-gu, Songpa-gu, Seocho-gu and Seodaemun-gu contained relatively large high-risk areas to flooding. Over $4.17km^2$ of transportation facilities were located in high-risk area to flooding and Gangnam-gu included over $0.85km^2$ of infrastructures exposed to high inundation risk. This study is meaningful in that it first applied the neural network modeling to flooding risk assesment and results of risk assessment can be incorporated into various planning process.

• Journal of Korean Society of Water and Wastewater
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• v.29 no.1
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• pp.123-131
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• 2015

A CCTV inspection method has been widely used to assess sewer condition and performance, but Korea lacks a proper decision support system for prioritizing sewer repair and rehabilitation (R&R). The objective of this paper is to introduce the results that we have developed in the Sewer Condition Assessment and Rehabilitation Decision-making (SCARD) Program using MS-EXCEL. The SCARD-Program is based on a standardized defect score for sewer structural and hydraulic assessment. Priorities are ranked based on risk scores, which are calculated by multiplying the sewer severity scores by the environmental impacts. This program is composed of three parts, which are decision-making for sewer condition and performance assessment, decision-making for sewer R&R priority assessment, and decision-making for optimal budget allocation. The SCARD-Program is useful for decision-makers, as it enables them to assess the sewer condition and to prioritize sewer R&R within the limited annual budget. In the future, this program logic will applied to the GIS-based sewer asset management system in local governments.

• Journal of the Society of Disaster Information
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• v.11 no.3
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• pp.356-364
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• 2015

As the modern society becoms industry acceleration and urbanization. Disaster is noticed that loss of life and a huge property loss. In sprit of continuous experience misfortune that reality have nonhigh national consciousness. But government is on the brink of various disaster. Various disaster are becoming larger and larger through industrialization and abnormal climate. The researchers of the study suggest as followers: the selection of a key risk factors throuh vulnerability analysis and risk assessment of disaster. As well suggest as policy direction throuh plan of personalized safety management.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.127-137
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• 2014

Project Financing (PF) development project is the type which influences national economy and building industry largely because it is exerted by using borrowed money from many kinds of investors and huge amount of financial raising. Many domestic PF projects are focused mainly on the profit maximization lacking in a sufficient feasibility study. Nowadays many projects are suspending due to the global finance debacle and stagnation of real estate industry. Therefore, in this paper, risk factors of PF project are deducted and Key Success Factors (KSFs) are derived through Factor-Analysis and qualified using Fuzzy-AHP method. And through the evaluation of the derived success factors in real projects, a strong correlationship has been identified between the score of each PF success factor and the level of success and/or expected rate of return (ROR). So, the result of this paper can help decision makers of the PF projects make a better decision and give a meaningful guidance in achieving successful PF projects.

• The Korean Journal of Air & Space Law and Policy
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• v.28 no.1
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• pp.73-96
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• 2013

ICAO's Universal Safety Oversight Audit Programme (USOAP) was initially launched in January 1995, in response to widespread concerns about the adequacy of aviation safety oversight around the world. The recent reduction in aircraft accidents and effective role that is evaluated on the basis of these results, and in 2013 the existing 'snapshot approach' to 'regular monitoring system (USOAP-Continuous Monitoring Approach)' was converted to. ICAO aviation safety assessment of the state in today's international community 'aviation safety credibility' as objective indicators to judge the enormous impact on the aviation industry, the state is not satisfactory, especially if the results of the evaluation and expansion of code-share airline ban, reduced international air transit passengers, including premium increases business and economic penalties should. In addition, ICAO implementation of the existing laws and regulations(Prescriptive Approach), but based on the Risk-based prevention model, Proactive Approach introduced the concept of aviation safety system, including international aviation safety policy has been to switch paradigms. This new ICAO international aviation safety policy also applies to the Government of the Republic of Korea in line with the aviation safey policies have changed. In particular, the systematic implementation of safety management for the existing laws and regulations in the center of the safety oversight system of risk-based introduction of the concept of proactive safety management, and According to international standards ICAO aviation service providers operate their own Safety Management System was set out in Aviation Law ever. In addition, the aviation safety is at the center of the field of the safety of aircraft operations and maintenance for the promotion is promoting various safety policies. This new paradigm shift in the international aviation safety policy in line with our state in the international community with the most exemplary aviation safety system firmly established itself as a model, the Government will strengthen the competitiveness of our aviation plans to support. To do this, the government, airlines, aviation officials try all the practical effect would be expected.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.224-227
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• 2004

As a project progresses, it is well known that construction manager has to define the contingency for the expected project cost, which is used as a buffer for uncertainty. In this study, we mention uncertainty as the amount of likelihood that is difficult or impossible to predict project cost. From the completed work package, we obtain the true cost value, and this information is technically good data for estimating the realistic contingency of work packages to be accomplished. Based upon this historical information, construction manager recomputes the contingency for the remaining works. Conditional probability theory is often useful for re-estimating one of the remaining project progress as the true cost of the completed works can be different from the planned cost. As a project is progressing, true value is really important to predict the realistic project budget and to decrease the uncertainty. In this study, we gave applied conditional probability theory to estimating project contingency supposing a project that consists of fire work packages, provide the fundamental framework for setting and controlling project contingency.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.274-277
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• 2006

The EAC(Estimate at Completion) among existing methods, which estimate cost and time effectively, help managers anticipate changeable several results at the point of $15{\sim}30%$ in the project progress. However, this method may cause such some problems as not to consider the periodically changing circumstances caused by construction risks or uncertainties which can affect the cost and time in the project, and to regard collected and accumulated data only as a single value when predicting the results on the progress. Accordingly, it is very difficult to accept the even small range of variability based on the anticipation of EAC. Consequently, the study focuses on the possibility methodology to anticipate time and cost accurately on the way to utilize EVMS(Earned Value Management System), and also suggest the way to perform the right estimation of EAC as considering various risks and uncertainties in construction projects.

• Korean Journal of Construction Engineering and Management
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• v.16 no.3
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• pp.165-176
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• 2015

Recently many Korean large-sized construction companies as well as specialty contractors have been expanding their business in the overseas market to mitigate impacts from long-term stagnation in the domestic market. Such as a result, it has been arisen as a major issue that contractors effectively manage the delays which have been commonly faced with in international mega-projects. Therefore it can be said that the ability of the delays management leads a success of project. This paper presents a review of literature for delay analysis methods such as time impact analysis(TIA) and raises practical problems to rationally substantiate the duration of extension of time(EoT) in international mega projects which have wide scope of works as well as complicated and detailed contract baseline programs by taking theoretical approaches. We suggest the two improvement concepts to substantiate the EoT claims which are effectively applicable to practical projects. The first is to sort out dominant delays among numerous delays in advance of applying a delay analysis. The second is to set up the delay sections with the advanced concept for analysing delays' effects by TIA. This study performed a case study on an actual international mega-project. to confirm the effectiveness of improvement concepts that this practical approach is applicable for the assessment of EoT. In conclusion, this paper supposes to provide practitioner in charge for an EoT claim with an advanced substantiation methodogy when they not only analyse the construction delays by using TIA, but also negotiate with stakeholders about with the assessment of EoT.