• Korean Journal of Construction Engineering and Management
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• v.18 no.2
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• pp.81-90
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• 2017

In Imjin River basin, three floods occurred between 1996 and 1999, causing many casualties and economic losses of 900 billion won. In Korea, flood damage is expected to increase in the future due to climate change. This study used the climate scenarios to estimate future flood damage costs and suggested a real options-based economic assessment method. Using proposed method, the flood control infrastructures in Imjin River basin were selected as a case study site to analyze the economic feasibility of the investment. Using RCP (Representative Concentration Pathway) climate scenarios, the future flood damage costs were estimated through simulated rainfall data. This study analyzed the flood reduction benefits through investment in the flood control infrastructures. The volatility of flood damage reduction benefits were estimated assuming that the RCP8.5 and RCP4.5 climate scenarios would be realized in the future. In 2071, the project option value would be determined by applying an extension option to invest in an upgrading that would allow the project to adapt to the flood of the 200-year return period. The results of the option values show that the two investment scenarios are economically feasible and the project under RCP8.5 climate scenario has more flood damage reduction benefits than RCP4.5. This study will help government decision makers to consider the uncertainty of climate change in the economic assessment of flood control infrastructures using real options analysis. We also proposed a method to quantify climate risk factors into economic values by using rainfall data provided by climate scenarios.

• The Korean Journal of Financial Studies
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• v.6 no.1
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• pp.23-45
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• 2000

기존연구에 의하면 무상증자의 공시는 공시기간 중 정(+)의 가격효과를 초래하는 것으로 나타나고 있다. 무상증자에 대한 이러한 시장의 호의적인 반응을 설명하기 위해 여러 가설이 제기되어 왔으며, 그 중 무상증자는 좋은 내부정보를 외부에 신빙성 있게 전달하는 신호기제가 될 수 있다는 신호가설이 특히 지지를 받고 있다. 그런데 짧은 공시기간 중의 정(+)의 주가반응만을 보고 신호가설이 지지된다고 단정짓는데는 무리가 있다. 본 연구에서는 과연 신호가설이 주장하는 것처럼 무상증자가 사업기회의 확대, 미래현금흐름의 증대, 추후 차입여력의 증대를 가져오는가를 더 면밀히 검증하기 위하여 무상증자 실시기업의 장기성과를 조사하였다. 본 연구의 특징은 (1)공시기간 이후의 1년 이내의 기간에 중점을 둔 대부분의 기존연구와 달리 증자 후 36개월간의 장기성과를 측정하였으며, (2)주가수익률 자료와 회계자료를 동시에 이용하여 장기성과를 조사하였고, (3)장기 초과수익률 측정과 검증에 있어 통계적 오류가 있는 누적초과수익률(CAR)을 보완하기 위해 매입보유초과수익률(BHAR)을 사용했으며, 이를 위해 엄격한 기준을 적용하여 표본기업과 비교기업을 선정하였다는 데 있다. 실증분석 결과 신호가설을 지지하는 증거는 발견하지 못하였으며 오히려 무상증자 실시기업이 시장평균 또는 비교기업인 비증자기업에 비해 장기적으로 주가수익률 및 영업성과에 있어 저성과를 보이는 증거를 상당 수 발견하였다. 구체적으로 동일가중평균수익률로 조정한 보유기간 초과수익률의 경우 증자 후 1개월에서 24개윌까지의 BHAR이 5% 미만 수준에서 부(-)의 값을 보였으며, 비모수통계치를 사용할 경우 $1{\sim}36$개월까지의 전기간에서 유의한 부(-)의 저성과를 보이고 있다. 또한 영업성과면에서도 증자기업이 비증자기업에 비해 증자 후 수익성과 현금흐름이 저조하게 나타나고 있다.해 현물시장의 수익률, 변동성이 높은 것으로 나타났으나, 변경후에는 현물시장에 비해 선물시장의 수익률 변동성이 높은 것으로 나타났다. VAR 분석에 의하면 변경후가 변경전에 비하여 선물이 현물을 선도하는 시차가 다소 커진 것으로 나타나 현물시장과 선물시장이 동시에 가격제한폭 확대후에 비효율적으로 되었다는 의미로 판단된다.기간에서는 선물의 15분 선도효과와 현물의 1분 선도효과가 발견되어 선물의 선도효과가 지배적임을 발견하였다.적 일정하게 하는 소비행동을 목표로 삼고 소비와 투자에 대한 의사결정을 내리고 있음이 실증분석을 통하여 밝혀졌다. 투자자들은 무위험 자산과 위험성 자산을 동시에 고려하여 포트폴리오를 구성하는 투자활동을 행동에 옮기고 있다.서, Loser포트폴리오를 매수보유하는 반전거래전략이 Winner포트폴리오를 매수보유하는 계속거래전략보다 적합한 전략임을 알 수 있었다. 다섯째, Loser포트폴리오와 Winner포트폴리오를 각각 투자대상종목으로써 매수보유한 반전거래전략과 계속거래 전략에 대한 유용성을 비교검증한 Loser포트폴리오와 Winner포트폴리오 각각의 1개월 평균초과수익률에 의하면, 반전거래전략의 Loser포트폴리오가 계속거래전략의 Winner포트폴리오보다 약 5배정도의 높은 1개월 평균초과수익률을 실현하였고, 반전거래전략의 유용성을 충분히 발휘하기 위하여 장단기의 투자기간을 설정할 경우에 6개월에서 36개월로 이동함에 따라 6개월부터 24개월까지는 초과수익률이 상승하지만, 이후로는 감소하므로, 반전거래전략을 활용하는 경우 주식투자기간은 24개월이하의 중단기가 적합함을 발견하였다. 이상의 행태적 측면과 투자성과측면의 실증결과를 통하여 한국주식시장에 있어서 시장수익률을 평균적으로 초과할 수 있는 거래전략은 존재하므로 이러한 전략을 개발 및 활용할 수 있으며, 특히, 한국주식시장에 적합한 거래전략은 반전거래전략이고, 이 전략의 유용성은

• Korean Journal of Construction Engineering and Management
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• v.17 no.5
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• pp.13-21
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• 2016

Insolvency of construction companies that play the role of main contractors can lead to clients' losses due to non-fulfillment of construction contracts, and it can have negative effects on the financial soundness of construction companies and suppliers. The construction industry has the cash flow financial characteristic of receiving a project and getting payment based on the progress of the construction. As such, insolvency during project progress can lead to financial losses, which is why the prediction of construction companies is so important. The prediction of insolvency of Korean construction companies are often made through the KMV model from the KMV (Kealhofer McQuown and Vasicek) Company developed in the U.S. during the early 90s, but this model is insufficient in predicting construction companies because it was developed based on credit risk assessment of general companies and banks. In addition, the predictive performance of KMV value's insolvency probability is continuously being questioned due to lack of number of analyzed companies and data. Therefore, in order to resolve such issues, the Bayesian Probabilistic Approach is to be combined with the existing insolvency predictive probability model. This is because if the Prior Probability of Bayesian statistics can be appropriately predicted, reliable Posterior Probability can be predicted through ensured conditionality on the evidence despite the lack of data. Thus, this study is to measure the Expected Default Frequency (EDF) by utilizing the Bayesian Probabilistic Approach with the existing insolvency predictive probability model and predict the accuracy by comparing the result with the EDF of the existing model.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.32 no.3
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• pp.242-252
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• 2022

Objectives: Firefighters and police officers are exposed to various occupational hazards. No studies in Korea have investigated the occurrence of cancer by type of cancer for the two occupations. This study aims to investigate the risk of occurrences associated with types of cancers in firefighters and police officers. Methods: Utilizing National Health Insurance(NHI) Claims data from 2006-2015, the study included 8,871,468 general workers, 25,001 firefighters, and 102,274 police officers. Using general workers as a control group, we calculated the standardized incidence ratios(SIR) by types of cancer for firefighters and police officers. After calculating the SIR for all subjects, the SIR was calculated by stratifying according to gender. Results: SIR of colon cancer 1.38(95% CI, 1.11-1.69), cancer of the liver and intrahepatic bile ducts 1.27(95% CI, 1.04-1.54), and 1.88(95% CI, 1.28-2.65) bladder cancer were higher firefighters than general workers. SIR of Lip, oral cavity, and pharynx 1.26(95% CI, 1.07-1.47), Stomach 1.14(95% CI, 1.06-1.23), colon 1.33(95% CI, 1.21-1.46), liver and intrahepatic bile ducts 1.21(95% CI, 1.10-1.32), pancreas 1.24(95% CI, 1.02-1.49), other skin 1.60(95% CI, 1.26-2.00), bladder 1.27(95% CI, 1.04-1.54), other urinary tract 1.46(95% CI, 1.27-1.68), other parts of central nervous system 1.68(95% CI, 1.10-2.46) were higher police officers than general workers. Conclusions: Both firefighters and police officers are exposed to various cancer occurrence risks, necessitating the development of occupational medical protection measures to reduce risk exposure factors.

• 한국노년학
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• v.25 no.2
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• pp.95-108
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• 2005

This study was done to explore the level of physiologic health status and health promotion lifestyle, and its contributing factors of Korean older adults. A total of 209 older adults participated in this study that ran from July 2 to July 6, 2004 in the waiting area of the subways of Seoul. The average age of the respondents was 67 years old with 39.2% considering themselves as healthy, 71.3% stating they regularly exercised and 71.8% knowing their own blood pressure. Among the participants 44% were classified as having high or low blood pressure and 44.5% showing abnormal blood sugar. The mean score of health promotion lifestyle was 2.75 and the order of its subcategories was interpersonal relationship, nutrition, stress management, spiritual growth, physical activities, and health responsibilities. This score was altered by exercise and knowing personal blood pressure. As a result of this study, it is important for older adults to know their own blood pressure and to exercise regularly to promote good health. In addition, health promotion programs should be developed and implemented based on the influencing factors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.3
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• pp.33-60
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• 2007

This study alms to analyze the entrepreneur characteristics of founder on enterprise performance from the strategic viewpoint as well as features of founder of small firms such as background feature of founder, psychological features and management skill. As considered by Background features of founder include educational background of founder, his experience in business creation, consultation or course related to business creation. This study verified the effects of factor which business performance (financial, non financial) on small firms. Also, this study considered psychological features of founder include achievement desire, risk-free propensity, level of patience on vagueness and control position. And it analyzed that between such factors and performance of small firms were examined in related. In the mean time, management ability of founder, entrepreneur ability, technical and function ability were considered for management skill of founder and alalyzed effect of the factors on performance of small firm were examined. Effects of strategic intention of founder of small firm were analyzed by the strategic viewpoint. At this time, strategy of small firm was divided into product-service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy. This study distributed questionnaire on CEO of small firms in Daejeon and Chungnam area for accomplish the study objective and it collected a total of 145 copies of questionnaires. As a result of analyzing collected questionnaire, this study deduced the following study results and suggestions. First, results different from those of existing studies were found Since sales, net income and profit rate of small firm were not high cause economic depression on the whole. Second, entrepreneur ability was found to be required for success of business creation. Entrepreneur ability of founder was the factor that affects both financial and non - financial performance of small firm. As such, entrepreneur ability can be regarded as the most important factor for success in business creation of small firm. Accordingly, entrepreneur ability is the most important source for success in business creation of small firm. Third, strategy of small firm was found to be the important factor that affects the non-financial performance even if it could not give significant effects on financial performance. Thus, product service reform differentiation strategy, marketing differentiation strategy and cost leadership strategy have significant effects on non - financial performance of small firm. Accordingly, it is required to operate small firm with strategic mind - set for small firm to achieve success. This study analyzed the effects of feature of founder and strategy of small firm on business performance of small firm through practical analysis on small firms in Daejeon and Chungnam area, and deduced meaningful results. However, Since this study collected data on small firms in Daejeon and Chungnam only, there is a limit in generalizing the results of this study to all small firms in Korea. Companies answering to this questionnaire process were mainly wholesale and retail service companies. In addition, there is a limit in that it failed to analyze feature of representative type of industry due to limit in number of sample, it is required to divide representative type of industry and to compare and analyze types of industry in future studies.

• Journal of Climate Change Research
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• v.2 no.4
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• pp.297-307
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• 2011

This study investigates relation of food safety incidents with climate. Therefore food safety incidents and climate data during 1999 to 2009 have been analyzed. In situ observations of monthly mean temperature, maximum temperature, minimum temperature, precipitation, and relative humidity in 60 observation stations of Korean Meteorological Administration (KMA) have been used in this study. Food safety incidents data have been constructed by searching media reports following Park's method (2009) during the same period. According to the Park's method, 729 events were collected. To analyze its relations, food safety incidents data have been classified into chemical, biological, and physical hazards. Pearson product-moment correlation coefficients have been applied to analyze the relations. The correlation of food safety incidents has negative one with precipitation (-0.48), and positive one with minimum temperature(0.45). Precipitation has been correlated with biological and physical hazards more than chemical hazard. Temperatures (mean temperature, maximum temperature, and minimum temperature) have been correlated closely with chemical hazard than others. Food safety incidents data has been interblended with human behavior factor through decision-making processes in food manufacturing, processing, and consumption phases of "farm-totable" food processing. Act in the preventing damage will be obvious if the hazard were apparent. Therefore abnormal condition could be more dangerous than that of apparent extreme events because apparent events or extreme events become one of alarm over hazards. Therefore, human behavior should be considered as one of the important factors for analysis of food safety incidents. The result of this study can be used as a better case study for food safety researches related to climate change.

• Journal of Korea Entertainment Industry Association
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• v.15 no.8
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• pp.19-31
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• 2021

This study tried to identify the characteristics of college students' entrepreneurial intentions in the entertainment industry, focusing on existing literature studies. Based on this, it was intended to suggest realistic educational alternatives for university student start-ups and implications for start-up management to university start-up officials and those in charge of national start-up support policy. Therefore, the implications of this study are as follows. First, technology(item) for idea creation education, which is an essential element in the entertainment industry, how to connect ideas and products, technology methods that can increase content value, and user characteristics education within the entertainment industry will need to be continued. In addition, along with the idea education, it is necessary to increase the understanding of start-up business management such as financing, human resource management, marketing, and operation management, and furthermore, confidence education should be provided so that the possibility of success in an entertainment start-up and a sense of adventure in a new job can be developed. Second, the space and equipment necessary for start-up (club room, student start-up room, entertainment-related equipment, etc.) should be provided centering on the opinion survey of students who are interested in starting a business, and various regulations of universities and government for student start-up should be relaxed. will have to In addition, education for the formation of entrepreneurial knowledge inside and outside of the school, special lectures and consultations by experts, and on-the-spot education, etc., should be made to create more practical entrepreneurial knowledge. something to do. Third, for students wishing to start a business in the entertainment industry, it is necessary to inform their families about the field situation of the entertainment industry accurately so that their children can develop a positive perception rather than a negative perception when choosing a business field. In addition, by promoting various successful cases of college students to their families after starting a business, families should be encouraged so that their children can develop a challenging spirit about starting a business. Fourth, it should be possible to form continuous clubs or gatherings with friends who wish to start a business in the entertainment industry, and furthermore, an opportunity to listen to the opinions of friends who actually started a business through these meetings should be provided. In addition, the meeting and the formation of friends should create a place for discussion about writing a business plan, how to succeed in starting a business, and management of startups, and psychological stimulation activities should be conducted so that each other's will to start a business arises. Fifth, various knowledge related to start-up (methods for securing funds, management of start-up organizations, grasping information about the market in which they want to start a business, etc.) should be cultivated, and how to write a business plan for the various entertainment industry fields they want to start up. You will also need to train them to be practical. Also, based on this knowledge formation, students themselves should be able to respond to risks and changes that may occur in entrepreneurship. Lastly, it is necessary to increase the understanding of business start-up management, and various psychological stimulation activities are needed to make the confidence and fear of starting a business disappear.

• Korean Journal of Construction Engineering and Management
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• v.20 no.4
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• pp.114-125
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• 2019

Off-Site Construction (OSC) is a new construction method based on factory production. OSC (Off-Site Construction) is a new construction method based on factory production. Researches such as OSC-related design and production standardization, transport methods are actively conducted in the U.S., UK and other parts of the world as this new method has an edge over existing methods in terms of productivity, economy and quality. As the emergence of this new area requires reasonable management, an analysis of the scope of construction project management is required accordingly. Therefore, this research analyzed the study trends and relationships at the CM/PM range's "Operation level" to identify areas of study, relationship between studies and deficiencies in current research. This study carried out a comprehensive literature review of the OSC (CM/PM) research by analyzing 94 papers in Operation level as of September 3, 2018, and the analysis results are as follows. (1) Working stage level researches have been increasing rapidly since 2006. (2) Non-volumetric type is contributing most significantly at work stage level. In the building sector, it has been identified that problems such as residential: living, quality issues, non-residential: economic difficulties, factory: productivity problems have been addressed. (4) The Non-volumetric pre-assembly type dealt with the economic feasibility of residential and non-residential buildings, whereas the modular type was studied in regards to assembly quality. (5) From 2006, project management areas (e.g., quality, human resources, risks) have been expanded. It is expected that this research will help find new areas of research for OSC. If the analysis is carried out to the level of the industrial, corporate and project phases in the future, it is deemed that the overall research flow and area of the OSC industry can be identified.

• Tuberculosis and Respiratory Diseases
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• v.60 no.3
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• pp.277-284
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• 2006

Background : Delayed treatment of pulmonary tuberculosis is an important problem because it results in greater mortality and the nosocomial transmission of tuberculosis. This study was conducted to analyze the factors that contribute to the delayed treatment of pulmonary tuberculosis in a university hospital and we wanted to provide basic data for instituting an effective management program for tuberculosis. Methods : we retrospectively reviewed the medical records of 155 patients with smear-positive or culture-positive pulmonary tuberculosis and who were treated between May 1999 and October 1999. A case-control study was performed to analyze the factors. We then tried to follow up the patients in delayed treatment group via telephone for the purpose of assessing the therapeutic interventions. Results : Among 150 patients, 55 (37%) were included in the delayed treatment group. The factors associated with delayed treatment on the univariate analysis included age (61 vs 40 years old; p <0.001), a smear-negative sputum test for acid-fast bacilli (AFB) (85% vs 55%; p <0.001) and no visits to a private clinic before the patient presented to the university hospital (56% vs 36%; p = 0.014). Multivariate analysis revealed that old age (p = 0.001), a smear-negative sputum for AFB (p = 0.001), and lower lobe infiltrate on chest X-ray (p = 0.041) were the independent predictors of delayed treatment. Of the 22 patients who did not receive any treatment, 20 of them 91%) consented to our suggestion of revisiting the hospital. Conclusion : Delayed treatment of patients with pulmonary tuberculosis is not uncommon in a university hospital. Old age, smear-negative for AFB, and lower lobe infiltrate on chest X-ray are the risk factors for delayed treatment. A more systematic management system is required for achieving better control of tuberculosis.