• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.287-292
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• 2021

The article analyzes the impact of capital structure on the firm value of chemical companies listed on the stock market of Vietnam. Data was collected from the financial statements of 23 chemical firms listed on the Vietnam stock market from 2012 to 2019. Quantitative research method with regression model according to OLS, FEM, REM method is used; FGLS method is used to overcome the model's defects. In this research, firm value (Tobin's Q) is a dependent variable. Capital structure (DA), Return on assets (ROA), Asset turnover (AT), fixed assets (TANG), Solvency (CR), Firm size (SZ), Firm Age (AGE), and revenue growth rate (GR) are independent variables in the study. The analysis results show that the capital structure of firms in the chemical industry listed on the Vietnam stock market has an inverse correlation with firm value. Besides, firms with greater asset turnover, business size, and number of years of operation have lower firm value. This article helps corporate executives improve corporate value by adjusting their capital structure properly. Chemical firms adjusted their capital structure in the direction of gradually decreasing the debt ratio and gradually increasing equity. Firms use high debt, which has the effect of reducing the firm value of firms in the chemical industry.

• Korean Management Science Review
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• v.17 no.1
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• pp.145-158
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• 2000

The medical records of diagnostic and testing information include sensitive personal information that reveals some of the most intimate aspects of an individual's life. The hospital information system (HIS) operates in a state of high risk which may lead to the possible loss to the IS resources caused by various threats. This research addresses twofold : (1) to perform asset identification ad valuation and (2) to recommend countermeasures for secure HIS network using case studies This paper applied a risk management tool CRAMM (Central Computer and Tele-communications Agency's Risk Analysis and Management Method) to assess asset values and suggest countermeasures for the security of computerized medical information of two large hospitals in Korea. CRAMM countermeasures are recommended at the reference sites from the network security requirements of system utilized for the diagnosis and treatment of patients. The results of the study will enhance the awareness of IS risk management by IS managers.

• Journal of Distribution Science
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• v.16 no.2
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• pp.83-88
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• 2018

Purpose - For distribution corporate, the method of recognizing sales revenue may be different depending on the type of distribution transaction. Until the change in accounting standards for revenue recognition was made in 2002, the distribution corporate recognized the full amount of sales of goods regardless of the type of transaction. However, in accordance with accounting standards for revenue recognition, which began to be applied in 2003, distribution corporate differ in sales revenue recognition by transaction type. The Purpose of this study is to analyze the impact of sales revenue on the corporate value after the change of the revenue recognition accounting standards. Research design, data, and methodology - We selected a comprehensive wholesale and retail corporate listed on Korea Exchange. The research model extends the Ohlson(1995) model and regresses whether sales revenue affecting the corporate value is discriminatory value relevance between the corporate affected by changes in accounting standards for revenue recognition and those not. Results - The results of the analysis are as follows. First, The average value of stock price, net asset per share, and earnings per share are all higher than those before the change of accounting standards for revenue recognition. However, the average value of sales per share is lower than that before the change of accounting standards for revenue recognition. Second, the relationship between corporate value and net asset per share, earnings per share and sales per share, the coefficient of net asset per share, earnings per share and sales per share are all statistically significant positive value. Therefore, in explaining corporate value, besides net asset per share and earnings per share, sales per share provides additional information. And the coefficient of interaction variable between accounting standard change and sales per share is a statistically significant positive value. This result indicating that after the change of the revenue recognition accounting standards the usefulness of sales revenue has increased. Conclusions - The change in accounting standards for revenue recognition led to a decrease in distribution corporate sales revenue but the higher the relevance of the corporate value of the sales revenue information. These results shows that the change of accounting standards that reflects the transaction type of retailers was a revision to increase the value relevance of sales revenue in valuation of corporate value.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.5
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• pp.671-679
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• 2016

Bridges, which constitute one of the key facilities in a social infrastructure, are easily accessed and used by users, so that keeping their performance above a certain level is essential. According to various cases in the U.S., Japan and Europe with a long construction history, it is expected that the maintenance cost of bridges in Korea will increase continuously in the future, so a rational decision making system based on engineering factors is necessary to optimize the performance of and maintain them by allocating the limited budget efficiently. This study is a preliminary basic study for the purpose of developing a common asset management system for managing all of the bridges and maintaining the level of service provided by them. The scope of this preliminary study is limited to bridges in urban areas. The bridge asset management system for bridges in urban areas, their level of service (LOS) and performance measure (PM) were developed by carrying out a workshop consisting of both experts and stakeholders. The analysis on the weights of the value and performance measure for each performance indicator was carried out by using the multi-attribute utility theory and the AHP method. In order to confirm the application of the weight of the performance measure and value of the performance indicator, six bridges in an example city were selected, LOS analysis was applied and its results were reviewed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.709-716
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• 2021

The main objective of this research is to find out the effect of Non-Performing Loan (NPL) of Nepalese conventional banks. The population of this study is major commercial banks in Nepal and the data obtained for this study was from the period 2015-2019. This research used secondary data and it is collected from each bank's annual report and GDP and Inflation taken from the World Bank database. The method used for data analysis in this study is multiple regression analysis. The study used NPL as a dependent variable and Return on Asset (ROA), Capital Adequacy Ratio (CAR), Bank Size, GDP growth, and Inflation as independent/explanatory variables. The result of this research shows that ROA, Bank Size, GDP, and Inflation have a significant effect on NPL but CAR does not have a significant effect on the NPL of banks. In other words, the GDP effect on NPL in this study shows a positive and significant effect while most studies show a negative effect. It demonstrates that when GDP growth increases, there is a significant increase in the growth of Nepalese banks even though there were no significant changes in income growth. Therefore, GDP growth has a positive and significant effect on the NPL of commercial banks. Thus, the bankers and policymakers need to consider GDP growth carefully while taking NPL-related decisions.

• The Journal of the Korea Contents Association
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• v.11 no.11
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• pp.10-18
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• 2011

Medical asset protection is important in each medical institution especially because of the law on private medical record protection and face recognition for this protection is one of the most interesting and challenging problems. In recognizing human faces, the distortion of face images can be caused by the change of pose, illumination, expressions and scale. It is difficult to recognize faces due to the locations of lights and the directions of lights. In order to overcome those problems, this paper presents an analysis of coefficients of Gabor wavelets, kernel decision, feature point, size of kernel, for face recognition in CCTV surveillance. The proposed method consists of analyses. The first analysis is to select of the kernel from images, the second is an coefficient analysis for kernel sizes and the last is the measure of changes in garbo kernel sizes according to the change of image sizes. Face recognitions are processed using the coefficients of experiment results and success rate is 97.3%. Ultimately, this paper suggests empirical application to verify the adequacy and the validity with the proposed method. Accordingly, the satisfaction and the quality of services will be improved in the face recognition area.

• Wind and Structures
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• v.39 no.1
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• pp.1-14
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• 2024

Widespread damages from extreme winds have attracted lots of attentions of the resilience assessment of power distribution systems. With many related environmental parameters as well as numerous power infrastructure components, such as poles and wires, the increased challenge of power asset management before, during and after extreme events have to be addressed to prevent possible cascading failures in the power distribution system. Many extreme winds from weather events, such as hurricanes, generate widespread damages in multiple areas such as the economy, social security, and infrastructure management. The livelihoods of residents in the impaired areas are devastated largely due to the paucity of vital utilities, such as electricity. To address the challenge of power grid asset management, power system clustering is needed to partition a complex power system into several stable clusters to prevent the cascading failure from happening. Traditionally, system clustering uses the Binary Decision Diagram (BDD) to derive the clustering result, which is time-consuming and inefficient. Meanwhile, the previous studies considering the weather hazards did not include any detailed weather-related meteorologic parameters which is not appropriate as the heterogeneity of the parameters could largely affect the system performance. Therefore, a fragility-based network hierarchical spectral clustering method is proposed. In the present paper, the fragility curve and surfaces for a power distribution subsystem are obtained first. The fragility of the subsystem under typical failure mechanisms is calculated as a function of wind speed and pole characteristic dimension (diameter or span length). Secondly, the proposed fragility-based hierarchical spectral clustering method (F-HSC) integrates the physics-based fragility analysis into Hierarchical Spectral Clustering (HSC) technique from graph theory to achieve the clustering result for the power distribution system under extreme weather events. From the results of vulnerability analysis, it could be seen that the system performance after clustering is better than before clustering. With the F-HSC method, the impact of the extreme weather events could be considered with topology to cluster different power distribution systems to prevent the system from experiencing power blackouts.

• Journal of the Korean Data and Information Science Society
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• v.21 no.4
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• pp.747-756
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• 2010

With the recent recession, studies on the economy are actively being conducted throughout the industry. Based on the Small Business data registered in the Credit Guarantee Fund, we estimated the survival probability in the context of the survival analysis. We also analyzed the survival time for the construction and the other industries which are distinguished depending on the types of business and assets in the Small Business. The survival probability was estimated by using the life-table and the difference between the survival probabilities for the different types of business was described via the method of the Log-rank test and the Wilcoxon test. We found that the small business with over one billion asset has the highest survival probability and that with less than 1000 million asset showed the similar survival probability. In terms of types of business Wholesale and Retail trade industry and Services were relatively high in the survival probability than Light, Heavy, and the construction industries. Especially the construction industry showed the lowest survival probability. Most of the Small Business tend to increase in the hazard rate over time.

• Journal of the Korea Safety Management & Science
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• v.3 no.4
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• pp.103-112
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• 2001

In Factory, as the number of machine is increased the more maintenance efforts are necessary. Multi maintenance issues may occur at a certain time and the determination of maintenance sequence is needed. In this study, we first compare the priority of machines and the impact value using modified FMEA(Failure Mode Effect and Analysis) method. Also, CBR(Case-based Reasoning) approach is applied to retrieve similar fault cases of current machine problem. The proposed methodology will be useful to implement decision support system of maintenance sequence for CMMS/EAM (Computerized Maintenance Management System/Enterprise Asset Management).

• Journal of the Korean Data and Information Science Society
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• v.24 no.4
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• pp.931-940
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• 2013

For analysis of clustered survival data, the inferences of parameters in semi-parametric frailty models have been widely studied. It is also important to investigate the potential heterogeneity in event times among clusters (e.g. centers, patients). For purpose of this analysis, the interval estimation of frailty is useful. In this paper we propose a visualizing method to present confidence intervals of individual frailties across clusters using the frailtyHL R-package, which is implemented from h-likelihood methods for frailty models. The proposed method is demonstrated using two practical examples.