• International Area Studies Review
• /
• v.21 no.2
• /
• pp.143-169
• /
• 2017

This paper empirically examines how capital structure inertia varies across industries and there is different in industries, and whether this fact is explained by product market competition using non-financial firms listed in KOSP market over periods of 1981 to 2015. In empirical test, I find that firms with more competition environment tend to have inertia behavior in making decision of capital structure. This implies that it is explained by debt discipline effect and it is substitution for product market competitions. Also I find that manager tends to take action actively making decision of capital structure when product market competition is low. Also I show that they use debt to constraint the free cash flow. As a result, I conclude that Korean non-financial firms do not have more strong inertia behavior in capital structure rather than U.S. firms. Second, using OLS estimation, inertia effect disappears while there is strong inertia effect in relationship between inertia and product market competition. This result suggests that transaction cost is not key factor in explaining inertia behavior of capital structure.

• The Journal of Information Technology
• /
• v.5 no.3
• /
• pp.81-96
• /
• 2002

Recently business reengineering is the most attractive management reforming skill. Many of the Korean firms are paying attention to business reengineering and many of them have initiated it. The major purposes of this study are; (1) to investigate the relationship between each variable and success or failure of business reengineering, and (2) to examine interaction effects of measurement and performation variables. Two hundred eighteen questionaires were used for analysis. In order to throughout studies that I executed earlier. To look for dependence of critical success factors on analysis was performed to examine patterns between measurement and performance variables. In conclusion, the hypothesized relationships in the research model are supported by the empirical findings of this study. Additionally it is possible to establish theoretical reference system on the basis of critical success factors.

• The Journal of the Korea Contents Association
• /
• v.19 no.2
• /
• pp.305-316
• /
• 2019

This study aims to examine a relationship between creativity and work performance of salespersons, and understand how the relationship between salesperson's creativity and their work performance changed depending on the classification of sales business and the industrial category. An on-line survey was targeted for salespersons who were working in consumer goods sales, industry materials sales, financial business, and service industry. A total number of the completed surveys was 588. According to the study, creativity is an important competency to improve salespersons' work performance. Also, companies should focus on the investment in developing creativity of employees who are in charge of industrial materials sales compared to people in other industrial categories.

• The Journal of the Korea Contents Association
• /
• v.9 no.6
• /
• pp.247-255
• /
• 2009

This study aims to provide basic data for establishing the safety and health plan by investigating the exposure conditions in the facilities registering business about handling radiations and radioactive isotopes in Korea. dose levels(working space, worker location) of the workers in 153 facilities were measured using surveymeter, and individual exposure concentration[(shallow dose(SD), depth dose(DD)] in 27 facilities using thermal luminescence dosimeter(TLD). In accordance with the measurement results by business type[fire fighting prevention business(FFPB, n=10), financial insurance business(FIB, n=3) and other facilities(n=140)] using surveymeter, those three business type groups showed difference (p<0.000). Dose levels of worker location for FFPB and FIB were significantly higher than 10.0 ${\mu}Sv$/hr, the allowable standard for radiations and radioactive isotopes, and they were higher 109.3 times(p<0.000) and 187.5 times(p<0.000) than those in other facilities. The concentration of TLD[FFPB(n=10), other facility (n=17)] in DD of FFPB was significantly higher than that in other facility(p=0.05). In accordance with the analysis result on relationship between surveymeter and TLD, the dose on working space and worker location(r=0.406, p<0.05), worker location dose and SD(r=0.453, p<0.05), worker location dose and DD(r=0.553, p<0.01), and SD and DD(r=0.927, p<0.001) had all related each other. It is urgently required to change FFPB and FIB from the facilities requiring registration for handling radiations and radioactive isotopes to the facilities that shall get permission for handling radiations and radioactive isotopes by reestablishing the legal administration area, for safety and health of radiation occupants.

• Korean Journal of Construction Engineering and Management
• /
• v.22 no.2
• /
• pp.106-118
• /
• 2021

Global governments and initiatives have attempted and integrated various organizational efforts to implement the 17 Sustainable Development Goals (SDGs), presenting a new paradigm of sustainable development to address global issues (climate change, poverty eradication, and human rights). Recently, investment in sustainable finance has expanded to finance the attainment of goals set out in the Paris Agreement and SDGs. Non-financial factors such as environment, social responsibility, and governance (ESG) have become intangible assets that determine the future competitiveness and profitability of companies. Domestic and foreign institutional investors and asset management companies have been expanding their investments based on the ESG performance of companies. In this study, we aim to derive international standards and initiatives that require disclosure of information on corporate social responsibility activities and ESG performance and analyze construction companies' ESG activities and performance levels. The results of this study can be used as the basis to develop platforms for the construction industry ESG ecosystem and the measurement and management of intangible assets. These could ultimately contribute to overcoming the crisis in the future due to the outbreak of the COVID-19 pandemic, fostering net-zero emissions, and preventing fatal workplace accidents in the construction industry.

• KDI Journal of Economic Policy
• /
• v.12 no.3
• /
• pp.71-94
• /
• 1990

This paper reviews the rationale of monetary and banking intervention by an outside authority, either the government or the central bank, and seeks to delineate clearly the optimal limits to the monetary and banking deregulation currently underway in Korea as well as on a global scale. Furthermore, this paper seeks to establish an objective and balanced view on the role of the central bank, especially in light of the current discussion on the restructuring of Korea's central bank, which has been severely contaminated by interest-group politics. The discussion begins with the recognition that the modern free banking school and the new monetary economics are becoming formidable challenges to the traditional role of the government or the central bank in the monetary and banking sector. The paper reviews six arguments that have traditionally been presented to support intervention: (1) the possibility of an over-issue of bank notes under free banking instead of central banking; (2) externalities in and the public good nature of the use of money; (3) economies of scale and natural monopoly in producing money; (4) the need for macro stabilization policy due to the instability of the real sector; (5) the external effects of bank failure due to the inherent instability of the existing banking system; and (6) protection for small banknote users and depositors. Based on an analysis of the above arguments, the paper speculates on the optimal role of the government or central bank in the monetary and banking system and the optimal degree of monetary and banking deregulation. By contrast to the arguments for free banking or laissez-faire monetary systems, which become fashionable in recent years, monopoly and intervention by the government or central bank in the outside money system can be both necessary and optimal. In this case, of course, an over-issue of fiat money may be possible due to political considerations, but this issue is beyond the scope of this paper. On the other hand, the issue of inside monies based on outside money could indeed be provided for optimally under market competition by private institutions. A competitive system in issuing inside monies would help realize, to the maxim urn extent possible, external economies generated by using a single outside money. According to this reasoning, free banking activities will prevail in the inside money system, while a government monopoly will prevail in the outside money system. This speculation, then, also implies that the monetary and banking deregulation currently underway should and most likely will be limited to the inside money system, which could be liberalized to the fullest degree. It is also implied that it will be impractical to deregulate the outside money system and to allow market competition to provide outside money, in accordance with the arguments of the free banking school and the new monetary economics. Furthermore, the role of the government or central bank in this new environment will not be significantly different from their current roles. As far as the supply of fiat money continues to be monopolized by the government, the control of the supply of base money and such related responsibilities as monetary policy (argument(4)) and the lender of the last resort (argument (5)) will naturally be assigned to the outside money supplier. However, a mechanism for controlling an over-issue of fiat money by a monopolistic supplier will definitely be called for (argument(1)). A monetary policy based on a certain policy rule could be one possibility. More importantly, the deregulation of the inside money system would further increase the systemic risk inherent in the current fractional banking system, while enhancing the efficiency of the system (argument (5)). In this context, the role of the lender of the last resort would again become an instrument of paramount importance in alleviating liquidity crises in the early stages, thereby disallowing the possibility of a widespread bank run. Similarly, prudential banking supervision would also help maintain the safety and soundness of the fully deregulated banking system. These functions would also help protect depositors from losses due to bank failures (argument (6)). Finally, these speculations suggest that government or central bank authorities have probably been too conservative on the issue of the deregulation of the financial system, beyond the caution necessary to preserve system safety. Rather, only the fullest deregulation of the inside money system seems to guarantee the maximum enjoyment of external economies in the single outside money system.

• Smart Media Journal
• /
• v.5 no.3
• /
• pp.42-48
• /
• 2016

Recently, most of the modern people used a second mobile device(two degree mobile device). Mobile devices are affecting all areas of human life, consumer electronics, transportation, manufacturing, and finance. On this paper, we propose a model-driven development based interaction model that can be used in the development of mobile payment system, which is the latest buzzword pins of the various application fields of mobile devices Tech (Fin-Tech) sector. Using a model-driven development based models do not depend on the Platforms (PIM), we propose a model for interaction between devices which can be reused when developing mobile billing app. A model-driven development based mobile applications use the reusable of interaction models development program analyzed the bus fees automatic payment application by a beacon.

• International Area Studies Review
• /
• v.20 no.2
• /
• pp.47-62
• /
• 2016

This paper is to set up the empirical model in order to estimate industrial markup and to analyze the determinants for industrial markup by estimating the factor price elasticities of markup in the Korean manufacturing industries using the autoregressive distributed model. The import price elasticities of markup were estimated to be -1.025, -0.176, and -0.260 respectively in Machinery products, Chemical products, and Metallics which proved to have higher ratios of imported intermediate goods to industrial output. The interest elasticities of markup were also estimated to be -0.165, -0.147, and -0.210 respectively in Chemical products, Metallics, and Machinery products which are capital-intensive industries. Thus, the paper suggests that both import price index and interest rate have had more decisive effects on the changes in industrial markup in the Korean manufacturing industries, in particular, since the foreign currency crisis beginning in late 1997.

• The Magazine for Energy Service Companies
• /
• s.79
• /
• pp.30-35
• /
• 2012

작년 9월 15일, 정전대란이 일어났다. 우리나라도 이제 전력 수요가 많아짐에 따라 블랙아웃에 절대 안심할 수 없는 지경에 이르렀다. 최근 전력수급과 에너지 효율성 등에 대한 관심이 커지고 있는 시점에 열린 2012 대한민국 녹색에너지대전은 '제4의 에너지'로 일컬어지는 신재생과 '제5의 에너지'인 에너지절약을 강조하는 행사로 다양한 에너지 문제에 대한 다양한 해법을 제시하였다. 지난 10월 9일부터 12일까지 코엑스에서 열린 '2012 대한민국 에너지대전'에서 대체에너지 생산과 에너지절약에 대한 지혜를 발견할 수 있었다. 녹색에너지대전, 신재생에너지대전, 녹색일자리엑스포 등 3가지 행사를 한 자리에서 볼 수 있었으며 '에너지절약시설자금 투자설명회'가 개최 돼 녹색에너지와 에너지절약을 궁금해 하는 일반인들과 에너지절약기업의 큰 관심을 끌었다. '2012년 대한민국 녹색에너지대전'은 에너지, 기후, 신재생 분야의 최신 제품, 기술, 정보 등 녹색 교류의 장이자, 동북아대표 기술교류 허브(Hub)로써 에너지효율, 기후변화-신재생에너지등 미래 에너지의 새로운 패러다임을 제시한 행사로 평가된다. 또한 에너지절약 차원으로는 에너지효율 향상을 주도하는 제품 및 기술 제안하여 보일러, 고효율조명, LED, 단열재, 하이브리드 자동차, 고효율가전기기, 전력수요관리설비 등 에너지효율 향상 제품이 전시되었고 기후변화대응과 녹색정책 및 기술 발표가 이어져 에너지 관련 공공기관, 협회 등 정책, 사업, 기술동향 등(CDM프로젝트, 탄소배출권 거래체, 탄소금융 사업 등)이 소개되었다.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.16 no.3
• /
• pp.287-293
• /
• 2010

As an exploratory research to understand the nature of relationships between harbors and their neighboring communities, this study analyzes how harbors influence their residents' quality of life(QOL). The QOL was measured by 18 indicators reconstructed by reviewing relevant literatures. As a result, both Busan and Incheon were found to have statistically significant influence on many of QOL indicators including general expenditure per capita, number of manufacturing factories per capita, rate of housing supply, number of financial agencies per capita, number of cultural assets per capita, number of schools per capita, number of sick-beds per capita, and the size of welfare expenditure per capita.