• Corrugated packaging logistics
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• v.1 no.4
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• pp.66-67
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• 1994

• Journal of the Korea Institute of Building Construction
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• v.15 no.1
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• pp.65-71
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• 2015

This study suggests business strategies by interaction analysis of indicators related construction business and business performance for specialty contractors that provide labor, materials and small sized equipments. To do this research, the data was analyzed for construction orders and business performance indicators of specialty contractors with KRW 7 bil. or more of assets during 1997 through 2010. For specialty contractors that provide labor, materials and smaller sized equipments, the amount of construction orders affects profitability the most and therefore some sort of strategy needs to be established to respond to decrease in operating margin due to dwindling construction orders. In other words, it is determined that increase in the amount of construction orders enhances operation of gross assets as well as the operating margin, ultimately increasing the profitability.

• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.1-25
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• 2006

This paper studied the performance of momentum strategy and contrarian strategy based or past stock return ratio of Korean stock market. The comparative study shows that the volatility of stock markets that can be found the performance of momentum strategy is smaller than that of emerging stock market. Accordingly, This paper examines that the performances of momentum strategy and contrarian strategy are affected by the larger volatility in Korean stock market. Further analysis using the 6 years sub-portfolios reveals that the momentum strategy is significant only during 1980 to 1986 time period when it had the least market volatility. Additionally, we investigate whether firm-level volatility as well as market volatility influence on the performance of contrarian strategy, and figure out that the momentum strategy is significant for the portfolio composed of firms with smaller volatility for previous period, while not significant for the portfolio composed of firms with larger volatility.

• Proceedings of the Korea Contents Association Conference
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• 2013.05a
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• pp.119-120
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• 2013

본 연구는 DEA기법을 이용하여 저성장, 저마진, 고위험의 삼중의 어려움 속에서 저비용 고효율의 생산조직과 리스크관리, 건전 여신 정착을 위해 건전성, 생산성, 자본적정성, 수익성이라는 상업은행의 핵심성과지표를 이용하여 효율성을 분석하였다. 분석결과 시중은행과 지방은행 모두 자본적정성에는 효율적이었으나 수익성과 생산성에 있어서는 시중은행이 지방은행보다 효율적이었다.

• The Korean Journal of Financial Studies
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• v.7 no.1
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• pp.119-131
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• 2001

Fama-French(1992)가 미국 주식시장에서 기대수익률 결정요인으로서의 베타의 유용성에 의문을 제기한 이래, 위험의 척도로서 베타가 강력한 도전을 받고 있다. 그러나, Grundy-Malkiel(1996)은 미국 주식시장의 하락장세에서는 베타가 위험의 적절한 척도라는 실증적 증거를 발견하였다. 본 논문에서는 Grundy-Malkiel의 방법론을 이용하여 한국 주식시장의 하락장세에서도 베타가 위험의 적절한 척도인지를 분석하였다. 1980년 1월부터 1996년 12월까지의 주식수익률 자료를 이용하여 실증분석한 결과 베타가 하락장세에서는 위험의 적절한 척도임을 발견하였다.

• The Korean Journal of Applied Statistics
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• v.21 no.5
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• pp.717-726
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• 2008

The purpose of this paper is to assess the financial strength of general insurers by using A.M. Best's rating technique focusing on quantitative standards. A quantitative evaluation of fifteen larger general insurers' financial strength and operating performance relative to the Best's top group is carried out. The quantitative evaluation is done in 5 key areas; growth, efficiency, profitability, safety and liquidity. The results show that there is a big gap between domestic large insurers and American insures in all areas except stable growth of operations. Therefore, domestic insurers have to strive to strengthen financial soundness through profitability and should increase the capacity to retain more commercial business and reinsurance in order to become global players.

• Journal of Environmental Policy
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• v.5 no.3
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• pp.1-24
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• 2006

As the social responsibility of corporations becomes more important, recently, many corporations have made constant efforts to preserve natural environment. Environmental investments had been traditionally thought as cost factors and sources of negative effects on a firm's financial performances. In this study, we explore the relation of financial and environmental performances of Korean corporations. We use default probability as well as ROE as indicators of financial performances. We find that there is positive correlation between ROE and environmental performance, and negative correlation between default probability and environmental performance. This implies that Korean corporations should recognize environmental investment as means of improving corporate value.

• Management & Information Systems Review
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• v.32 no.1
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• pp.135-151
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• 2013

The study has been carried out to understand productivity-related factors that have been connected to improve financial independence rate of national university hospital. In order to achieve such research purpose as working out implications of efficient resource management, data from the four years between 2007 to 2010 of 12 national university hospitals were reviewed. According to the results, the hospitals came up with significant differences in Value Added to Total Asset, Value Added to Tangible Fixed Assets, Value Added to Personnel Expenses and Value Added Ratio to Patient Revenues. In addition, after the relation between the investment efficiency and profitability of the national university hospitals was investigated, it was learned that application of basic environmental factors would have an influence on a profitability index Operating Margin. As long as the basic environmental factors are adopted, Operating Margin of the national university hospitals is improved under the condition that the Value Added to Tangible Fixed Assets for Production and the Value Added to Personnel Expenses gets higher but the Value Added Ratio to Patient Revenues gets lowered.

• Journal of the Korea Convergence Society
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• v.9 no.7
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• pp.213-222
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• 2018

This study attempts to empirically investigate the excess returns of growth stocks in the Korean stock market comparing with those of value stocks. Recently, a few of IT and bio-pharmaceutical stocks with high growth potentials have accomplished dramatically high returns in the Korean stock market. Whereas, important prior studies in this line have observed negative excess returns from investment of growth stocks on average. And a few studies have reported that the distribution of excess returns from growth stocks is not normal but positively skewed. Empirical results of the present study are consistent with those of prior studies. Interestingly, the present study observed serial inverse correlation between excess returns of growth stocks and value stocks. Also, regardless of growth or value stocks, the stocks with higher PEG(=PER/ROE) showed higher excess returns.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.167-176
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• 2006

It was found that Korean Standard of Estimate which has been used as the only basis of cost estimate of public construction projects had some side effects such as jerry-build construction and over-estimation because it failed to reflect the current price and the state-of-the-art construction methods in a changing construction environment. Therefore, the government decided to gradually introduce historical construction cost into cost estimate of public construction projects from 2004. This paper presents analytic criteria and a process model for deducing more current and reasonable historical construction cost for contract items from not only previous contract prices but also all of the other bid prices that were not contracted. The procedure of estimating actual unit cost proposed in this paper focuses on the removal of abnormal values including strategically too low or high prices and the time correction. In addition, basic research is conducted for the correction of actual unit cost through the analysis of fluctuation of bid price depending on bidding types and rates of successful bid. It is anticipated that the effective use of the proposed process model for estimating actual unit cost would make the cost estimation more current and reasonable.