• The Journal of the Korea Contents Association
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• v.22 no.2
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• pp.593-604
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• 2022

This study examines how auditors respond to labor investment inefficiency, specifically its impact on audit fees and audit hours. Using a sample of Korean firms listed on the Korea Stock Exchange from 2003 to 2018, our empirical results indicate that firms involved in inefficient investment in labor incur higher audit fees and audit hours. This implies that auditors consider inefficient labor investment to cause considerable business risk, thus requesting higher external audit fees to compensate for higher audit risk. Furthermore, auditors expend more time and effort while auditing those firms by expanding the audit procedures to reduce the audit risk to an acceptable level. Finally, this study provides empirical evidence on whether the investment inefficiency in labor, an important factor in firms' competitiveness, incur higher audit fees as well as audit hours.

• Journal of Labour Economics
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• v.40 no.3
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• pp.29-55
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• 2017

We examine the effects of the self-reported subjective and the objective health indexes on work compensations. The compensations consist of monetary factors, such as wages, and non-monetary factors reflecting job risks such as the workplace accidence. The wages and workplace injuries are clearly affected by gender and age differences as the subjective and objective health factors of elderly workers are combined with physical and systematic work environments. Mental health problems such as work depression are more serious especially for high income elderly groups. The elderly workers experienced with physical problems and chronic illnesses are led to the decrease in wages and the increase in safety accident risks at work sharply. Therefore, we need to provide supporting services, retirement planning designed by companies, supported by the government enhanced risk working conditions and the weakness on protecting jobs.

• Journal of the Korean Institute of Navigation
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• v.25 no.1
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• pp.33-44
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• 2001

Tankers have somewhat different shapes in construction and working condition compared with normal merchant ship. If an accident occurs, normal merchant ship's damages will mostly be confined to ship and cargo, but those of tankers will result in oil spills and catastrophic loss beyond our imagination. So, first we must understand risk factors, pre-loss control and post-loss control, legal regulations about its indemnification and marine insurance for oil tanker operation. When unexpected accidents happen, despite pre-loss control, it is possible to cover those kinds of losses by insurance. To control these losses, however, it is important to establish compensation for oil pollution and arrange for oil pollution preventing system. In spite of these oil pollution preventing systems, we have rarely seen that pollution from oil tankers could be solved. So this paper was studied more fundamental and overall control measures for the risk management of oil tanker operation.

• KDI Journal of Economic Policy
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• v.18 no.3_4
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• pp.3-61
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• 1996

소비자 보호 및 효율적 자원배분, 기업의 안전증진 유인제공, 제도의 국제적 조화를 위하여 제조물책임법(製造物責任法) 제정의 필요성이 제기되고 있다. 현재 제조물로 인한 사고는 민법(民法)에 의하여 보상받고 있으나 그 입증책임이 과중하고, 현재 우리나라 생산물배상책임보험(生産物賠償責任保險)이 전체 손해보험에서 차지하는 비중은 0.1%에 불과(미국 10%)하여 그 비용이 아직 미미하므로 제조물책임법제(製造物責任法制) 도입의 안전증진효과가 경제적 손실보다 클 것으로 예상된다. 법제정시의 기본방향은 소비자에게 단순히 보상을 제공하는 법제가 아닌, 기업의 책임과 제품결함이 밀접히 연관되어 배상(賠償) 및 사고억제(事故抑制)의 유인과 효과를 극대화하는 것이어야 한다. 추정규정의 도입은 소비자(消費者) 피해구제(被害救濟)를 용이하게 하지만, 디자인 및 경고결함(警告缺陷)과 결합되면 제조자가 제품사고의 모든 가능성에 대해 완벽한 정보를 가지지 않는 한 제조자의 책임이 되어 제조물책임(製造物責任)의 불확실성(不確實性)을 높이고, 결과적으로 기업에게 절대책임(絶對責任)을 부과하게 되어 제품개발과 혁신을 위축시키는 등의 부정적(否定的) 영향을 초래할 위험이 크다. 따라서 결함의 추정은 인정하지 않아야 하며, 제품개발 및 혁신을 도모하기 위해 개발위험항변(開發危險抗辯)은 인정되어야 한다. 손해배상액(損害賠償額) 상한(上限)을 두지 않는 것이 경제적으로 효율적이고 연대책임을 인정하여 유통업자의 안전제고유인(安全提高誘因)도 강화하는 것이 효과적이다. 중소기업을 포함한 모든 기업에게 입법후 1년 정도의 준비기간(準備期間)을 주는 것이 바람직할 듯하며, 배상책임보험(賠償責任保險)은 의무화하지 않는 것이 경제적으로 효율적이다. 기계, 전자, 운송용기기, 건설, 화학, 식 의약품, 가스제품, 완구, 운동용구 등이 영향을 크게 받을 것으로 예상되지만 법제이용(法制利用)의 편의가 개선되기 전에는 소송의 증가는 미미하리라 예상된다.

• The Journal of the Korea Contents Association
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• v.20 no.1
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• pp.417-426
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• 2020

The culture industry has been considered very important as firms utilize human creativity as the main source for providing high-value-added services. In this industry, the inspirations and ideas of individual creators have been stressed rather than the roles of entrepreneurs so far. However, in recent years, due to the influence of "Hallyu" or the Korean Wave, entrepreneurial firms have actively participated in producing a variety of products embracing cultural value. In this vein, the entrepreneurship-related elements such as the degree of leaders' innovativeness, risk-taking environment, first mover advantage, employee compensation, and tolerance to failure were selected to investigate their effects on market leadership. As a result, it was observed that risk-taking environment, first mover advantage, employee compensation, and tolerance to failure had a positive effect whereas leaders' innovativeness was not statistically meaningful. These findings show that the creation of an atmosphere where employees' creativity can be fully appreciated is more important than the leader' insight-driven innovativeness. The results of this study indicate that when companies formulate strategies and the government initiate policies in the culture industry, entrepreneurship should be incorporated as a crucial element.

• The Korean Journal of Air & Space Law and Policy
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• v.24 no.2
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• pp.3-17
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• 2009

The Rome Convention System (1933, 1952, 1978) which deal the third party lability relating to damage caused by aircraft to third parties on the surface have not been so effective and successful like the Warsaw Convention System. This paper briefs the development of the Rome Convention System and the reasons of their failure which are the low level of the limit of liability and non-parties of major civil aviation states such as the United States, the United Kingdom, Japan, Germany and etc. The Diplomatic Conference hosted by ICAO at Montreal during April 20 to May 2 has successfully produced two Conventions; One is Convention on Compensation for Damage Caused by Aircraft to Third Parties (General Risk Convention), the other is Convention on Compensation for Damage to Third Parties, Resulting from Acts of Unlawful Interference involving Aircraft (Unlawful Interference Convention). The major contents and some problems of these two Conventions are reviewed in comparison with the exisiting Rome Convention System and other legal system. Particularly, the entrance into force of the Unlawful Interference Convention may take some time, at least more than 5 years, due to the realistic problems arising from the operation of International Civil Aviation Fund.

• The Korean Society of Law and Medicine
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• v.11 no.1
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• pp.59-84
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• 2010

Medical practice is characterized by various physiological response and uncapacity of prediction, therefore when medical accident occur it's hard to prove medical professionals' mistake. Though medical accident by medical professionals' mistake will be compensated anyhow, about irresistible medical accidents, no one should be not bound to compensate, victims get into very difficult situation. So, the nation don't negligent irresistible medical accidents but compensate anyway. As in the past, to the legal principle's constitution of irresistible medical accidents, theory of liability without fault was adapted, and it was said this theory was illogical in theory of liability with fault. But the subject of compensation to irresistible medical accidents is nation, nation don't participate in medical treatment therefore there is no room to occur mistake. And it is not reasonable to regard medical agency as a truster of public service, to cast to it responsibility of medical accidents. The problem of compensation to irresistible medical accidents is understood under the theory of social compensation. Social compensation is consisted of compensation to sacrifice and contribution to nation and society and compensation to sacrifice revealed under danger, the compensation to irresistible medical accidents belongs to the latter. This is near to concept of relief, is applied to national compensation system supplementarily, and compensation have no option but to compensate minimum. And there are not relation between national compensation system of irresistible medical accidents and proof liability transposition and theory of liability with out fault, merely in side of sharing responsibility burden between medical treater and victim, it is reasonable to discuss transportation of proof liability and compulsive liability insurance together.

• The Korean Journal of Financial Management
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• v.7 no.1
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• pp.1-20
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• 1990

In most of studies on market efficiency, the stability of risk measures and the normality of residuals unexplained by the pricing model are presumed. This paper re-examines stock splits, taking the possible violation of two assumptions into accounts. The results does not change the previous studies. But, the size of excess returns during the 2-week period before announcements decreases by 43%. The results also support that betas change around announcements and the serial autocorrelation of residuals is caused by events. Based on the results, the existing excess returns are most likely explained as a compensation to old shareholders for unwanted risk increases in their portfolio, or by uses of incorrect betas in testing models. In addition, the model suggested in the paper provides a measure for the speed of adjustment of the market to the new information arrival and the intensity of information contents.

• The Korean Journal of Financial Management
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• v.14 no.1
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• pp.1-21
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• 1997

본 논문은 한국 주식과 미국 주식을 대상으로 Jegadeesh and Titman(1993)의 상대적세력 투자전략의 수익성을 비교 검증하고, 그 수익성의 원천을 분석하고 있다. 실증분석 결과, 과거수개월간 주가수익률이 매우 높았던 승자주식을 매입하고 그 반대의 패자주식을 매도하는 상대적세력 투자전략은 미국 주식사료(1963년${\sim}$1989년)로부터 배우 유의한 비정상적 월수익률 약 1%를 얻을 수 있었으며, 이는 체계적위험에 대한 보상을 고려한 후나 베타 크기별 소표본분석에서 모두 유의한 것으로 나타났다. 반면 동 투자전략은 한국 주식자료(1980년${\sim}$1995년)에서는 오히려 비유의적인 음의 월수익률 약 -0.34%를 얻을 수 있을 뿐이었다. 이러한 한국 주식에 대한 낮은 수익성은 베타 소표본분석과 5년간씩의 소표본기간분석에서도 마찬가지로 나타남으로써, 동 투자전략이 미국에서와 달리 효과적인 투자전략이 되지 못함을 시사하고 있다. 이러한 결과는 한국 주식의 경우 월수익률 패턴이 미국보다도 더 예측하기 어렵고 무작위적이라는 것을 의미하며, 이는 양국 주식시장의 여러 가지 제도상의 차이에 비롯되는 투자자들의 투자행태 차이 때문으로 해석된다. 예를 들어, 한국의 경우 증시안정책이나 부양책 등과 같은 시장 외적인 규제요인에 의해 시장 전체가 영향을 받는 경우가 많으며, 또한 소액투자자의 직접투자 비중이 높아 투자기간(investment horizon)의 측면에서도 투자신탁(mutual fund)과 같은 간접투자 비중이 훨씬 높은 미국에 비해 단기적인 성향이 일반적이며, 따라서 이러한 차이가 월수익률 패턴에 반영되는 것으로 이해된다.

• Proceedings of the Korea Contents Association Conference
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• 2013.05a
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• pp.381-382
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• 2013

본 연구의 목적은 젊은 성인과 노인의 장애물 보행 시 신체질량중심의 변위와 최대속도를 3차원적으로 비교 분석하여 노인의 낙상위험 및 균형능력을 평가할 수 있는 중요한 요소가 될 수 있는지를 검증하는데 있다. 본 연구의 대상은 건강한 젊은 성인 10명(남성 6명/여성 4명, $24.6{\pm}1.9$세)과 65세 이상 건강한 노인 10명(남성 1명/여성 9명)으로 선정하였다. 각 피험자 신장의 10% 높이의 장애물 보행을 실시하였으며 동작 분석 장비를 통해 신체질량중심의 변위와 최대속도를 3차원적으로 분석하였다. 전후방향에서는 젊은 성인 집단의 변위가 더 크고(p=.019) 최대속도가 더 빠르게 나타났으며(p<.001), 좌우방향에서는 노인 집단의 변위가 더 크고(p=.004), 더 빠르게 나타났다(p<.001). 수직방향에서의 변위는 유의한 차이가 없었고(p=.135), 최대 속도는 젊은 성인 집단이 더 빠르게 나타났다(p<.001). 신체질량중심의 좌우방향에서의 크고 빠른 움직임은 노인의 동적 균형능력 저하로 인해 넘어가는 발(swing limb)의 안정적인 지지면 딛기를 위한 보상적 조절로 여겨지며, 따라서 노인의 낙상위험 및 균형능력을 평가할 수 있는 중요한 요소가 될 수 있을 것으로 사료된다.