• Proceedings of the Korea Society for Industrial Systems Conference
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• 2007.02a
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• pp.139-151
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• 2007

Decision-making in the crisis management happens in dynamic, rapidly changing, and often unpredictable distributed environments. Crisis management Decision Support Systems (DSSs) in E-Government are challenged by the need to use it availably at anytime, from anywhere, and even under any-situation. In this paper the reasons of developing distributed architecture for crisis management Decision Support Systems (DSSs) in E-Government are analyzed. Consequently, a distributed architecture for crisis management Decision Support System (DSS) is proposed in this paper. Finally it is implemented by Web Services. If crisis management Decision Support System (DSS) based on distributed architecture is implemented by Web Service, then it can provide decision support for decision-makers to deal with crisis at anytime, from anywhere, and even under any-situation.

• Journal of Information Technology Services
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• v.12 no.4
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• pp.109-124
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• 2013

Recently domestic companies have struggled to deal with different kinds of crisis accrued from various sources. However, their perception on the crisis and crisis management system are extremely vulnerable. In particular, although almost all companies have had many business related crisis, they have tended to ignore the crisis with simply considering it as unlucky and not to approach it provocatively in preparing some preventive measures and turning it into an opportunity due to the lack of recognizing the importance of risk management. In other words, domestic companies have not systematically prepared detailed plans for potential crisis, rather have tended to recognize the importance of having crisis management system after experiencing a detrimental crisis or accident. Furthermore research on the issue has conducted sparsely in the academic world. The purpose of this study was to investigate the differences among types of businesses in terms of the degree of crisis experienced previously, the perception on the importance of crisis management system, the level of crisis management implementation, and the areas of crisis management being focused in the future. Usable data was collected from 201 companies using an on-site survey. Data was analyzed with SPSS 21.0 using some descriptive statistics and a series of ANOVA (One-way Analysis of Variance). Results and implications were provided, along with some future research directions.

• East Asian Economic Review
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• v.23 no.4
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• pp.409-427
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• 2019

This paper sets up a new Keynesian model with external habit to explore the role of each shock over business cycles in Korea. The estimated model via maximum likelihood shows that the productivity shock plays a pivotal role in explaining the output variations before and after the financial crisis since mid-1970s. It also shows that the model with external habit is more successful in explaining the business cycles in Korea after the Asian financial crisis than the model without habit. The monetary policy shock which dominates by accounting for more than 70 percent of the unconditional variance of the inflation rate before the financial crisis is less important in the inflation rate fluctuations after the financial crisis. This partly reflects the regime change of the monetary policy to the inflation targeting rule after the financial crisis.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.35-47
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• 2020

An economic downturn can occurred through unexpected events in various fields, such as the subprime mortgage crisis and the outbreak of Coronavirus Disease-2019 (COVID-19). Trade credit is important for small- and medium-sized enterprises (SMEs), especially during a monetary contraction, as it is the last option for firms that lack bank credit. This study aims to determine whether trade credit is profitable for the buyer and supplier firms during and after a financial crisis. We use panel data consisting of all trade credit transactions and financial statements of 5,751 Korean firms during the period 2008-2012. It shows that trade credit is more profitable for both buyers and suppliers in the post-crisis period than during the crisis. Moreover, trade payable is more effective for unconstrained buyers than for constrained buyers. Finally, a mixed strategy is superior to an aggressive or passive strategy of SMEs. The results suggest less profitability of trade credit during a period of contraction and greater sensitivity of the buyer SMEs, emphasizing the idiosyncratic liquidity strategy of each firm. This study can be helpful to develop a strategy of profitable trade credit for SMEs and to establish a policy of managing liquidity for the authority.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.19-26
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• 2017

Banks play a crucial role in bringing stability and economic development through their expected contribution in proper financial resource mobilisation across the economy. Despite the importance, there is little focus in recent literature which provided the empirical evidence how the global financial crisis affect the bank efficiency in Bangladesh. Thus, this paper aims to examine the effect of the global financial crisis and other factors on the efficiency of Bangladesh commercial banks. By employing the Data Envelopment Analysis (DEA) method, we computed the technical efficiency of individual banks operating in the Bangladesh banking sector during 2000 to 2013. The empirical findings indicate that the Bangladesh banking sector has exhibited the highest efficiency level during 2001, while efficiency seems to be at the lowest level during 2010. The study finds that crisis along with bank size, capital adequacy ratio, return on average equity and real interest rate have a significant effect on bank efficiency in Bangladesh. In order to keep the sound financial development of Bangladesh, banks operating in the Bangladesh banking sector have to consider all the potential technologies which could improve their profit efficiency levels, since the main motive of banks is to maximise shareholders' value or wealth through profit maximisation.

• Journal of Advanced Navigation Technology
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• v.14 no.1
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• pp.127-133
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• 2010

The process for establishment of Operational Continuity Management Plan is organized repeatedly of Business Risk Assessment, Crisis Analysis, Business Impact Analysis, Establishing Business Recovery Strategies, Detailed Planning, Plan Execution, Test and Maintenance(Including Monitoring). Therefore, in this paper in response to global environmental change and the construction and operation of social security systems to maximize operational continuity management, crisis management and crisis management systems, building integrated systems for building technology in general and operational continuity management within an organization to understand developed to provide a framework for implementing operational continuity management in terms of crisis management has proposed to build an integrated system.

• 사회경제평론
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• v.29 no.1
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• pp.71-98
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• 2016

This study reveals the followings in the Tugan's business cycle thoery. First, Tugan tried to construct a business cycle theory based on his market theory. But Tugan' theory is lack of logical consistency. Second, Tugan's critics as well as defenders did not understand his theoretical error. Underconsumption theorists did not evaluate Tugan's periodical crisis theory while only criticizing Tugan's crisis theory neglected a consumption. Bauer developed Tugan's periodical crisis by using the reproduction scheme including a hoarded money. Hilferding only constructed a theory of crisis properly criticizing Tugan's crisis theory on the basis of Marx's concept of crisis.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.17-26
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• 2016

This study investigates daily stock market anomalies in Chinese stock market, using nine most representative stock indices over an eleven year time period spanning from pre-financial crisis era to six years into the financial crisis. This research is the first to test the presence of the day of the week effect on stock returns in the Chinese stock exchanges during the financial crisis. We find that the day of week effects have been strongly significant in Chinese stock exchanges since 2004. However, unlike the previously found negative Monday effect and positive Friday effect in the U.S., Chinese stock market shows positive returns on Mondays and negative returns on Tuesdays. More importantly, the negative Tuesday effect is only significant after the inception of financial crisis. The results indicate a positive effect on Mondays and a negative effect on Thursdays. More importantly, we find a negative Tuesday effect during the financial crisis, which suggests a spillover of the Monday effect from the U.S. stock market. Our results shed some light on the degree of market efficiency in the largest emerging capital market in the world, and its increasingly close relationship with the U.S. capital market.

• Journal of Digital Convergence
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• v.20 no.4
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• pp.169-184
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• 2022

The purpose of this study is to give a help organizations facing various crises establish effective crisis preparedness plans by confirming the effect of an organization's crisis management system on crisis preparedness, and by confirming the multiple mediating effects of crisis monitoring and learning from failure. The survey for the empirical study was conducted targeting 121 executives, directors, mangers and mid-level employees of the MBA program of the P National University. Confirmatory factor analysis, reliability analysis, and regression analysis were performed using SPSS 25 and Amos 25, and mediating effect analysis was performed using the boot-strapping technique using process macro. As a result of the study, it was found that the crisis management system had a positive (+) effect on crisis preparedness, and learning from failure and crisis monitoring multi-mediate between the crisis management system and crisis preparedness. Through the research results, it was confirmed that there was a significant effect of learning from failure and crisis monitoring that had an effect on crisis preparedness. As an implication, a crisis preparedness plan suitable for the organizational situation was presented, and the limitations of the study and future research directions were presented.

• Asia Marketing Journal
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• v.14 no.3
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• pp.7-26
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• 2012

The success story of E-mart fascinated many academics and practitioners alike. Though E-mart began as a nameless discount store in Chang-dong, Seoul in 1993, it has transformed itself into a leading distribution company and one of the most powerful brands in Korea. Surprisingly, it achieved the great success against the two crises it met: the national economic crisis and the invasion of the global giant Walmart. The main objective of this case study is to formally examine how E-mart overcame the two crises. More specifically, this case study highlights the ways with which E-mart turned those difficulties into opportunities for growth. In our examination of the E-mart case, we could clearly see E-mart's competence and spirit that allowed it to turn crises into advantageous opportunities. E-mart attracted the customers who wanted value-oriented consumption by its positioning as the "Lowest price discount store", when consumer sentiment was frozen under the economic crisis. Furthermore, when a large-scale foreign discount store like Walmart entered the Korea market, E-mart built its core competencies as the 'Korean style discount store'. These ingenious positioning and efforts resulted in E-mart taking over their archrival, Walmart, and forced the global Goliath to exit the Korean market. The case of E-mart's effective crisis management teaches many important lessons and a few core lessons that apply to many companies. One such lesson is the importance of positioning which enabled E-mart to turn crises into opportunities. Granted, the strategy of positioning as the 'Korean style discount store', or 'Lowest price discount store' was possible due to overall support with cost reduction, development and management of their own system, an apprentice educate system, etc. based on an excellent selection of location of the store and efficient distribution systems. Still, the positioning strategy of E-mart was truly ground breaking in distancing itself from its competitors. The lessons from E-mart will help those companies currently in a stagnant situation or a crisis to turn their obstacles into great success.