• 제목/요약/키워드: Economic Risk

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정량적 분석에 의한 전남바다목장의 생태계 기반 어업평가 (A study on the ecosystem-based fisheries assessment by quality analysis in Jeonnam marine ranching ecosystem)

  • 박희원;최광호;장창익;서영일;김희용
    • 수산해양기술연구
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    • 제49권4호
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    • pp.459-468
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    • 2013
  • In the application of the ecosystem-based fisheries assessment Jeonnam marine ranching ecosystem, two fisheries, funnel fishery and trap fishery, were selected as target fisheries. Black seabream, Acanthopagru schlegelii, rock bream, Sebastes inermis, gray mullet, Mugil cephalus, were selected as target species for the funnel fishery, and conger eel, Conger myriaster, was target species for the trap fishery. For assessing indicators of four management objectives, that is the maintenance of sustainability, biodiversity, habitat quality and socio-economic benefits, indicators were selected considering the availability of data, which were 5 indicators for sustainability, 3 indicators for biodiversity, 4 indicators for habitat, 2 indicators for socio-economic benefit. The Objective risk indices for sustainability and biodiversity of two fisheries were estimated at yellow zone, medium risk level. The objective risk indices for habitat and socio-economic benefit were estimated at green zone, safe level. The species risk indices (SRI) were estimated at yellow zone. The fishery risk indices (FRIs) were estimated at 1.143 and 1.400 for funnel net fishery and trap fishery, respectively. Finally the ecosystem risk index estimated at 1.184.

2000년대 원자력과 유연탄 화력 발전의 경제성 평가 -동일 보건 위험도 기준- (Economic Assessment of Coal-fired & Nuclear Power Generation in the Year 2000 -Equal Health Hazard Risk Basis-)

  • Seong, Ki-Bong;Lee, Byong-Whi
    • Nuclear Engineering and Technology
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    • 제21권3호
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    • pp.171-185
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    • 1989
  • 유연탄 발전과 원자력 발전의 경제성 평가를 균등한 인체 위험도 하에서 서기 2000년의 시점에서 수행하였다. 유연탄 발전과 원자력 발전의 인체에 대한 영향 비교에서, 유연탄의 영향이 원자력에 비해서 10배가량 높은 것을 에너지 시스템의 위험도 평가에 관한 여러 연구결과들로부터 알 수 있었다. 그런데 위험도가 0인 상태는 존재하지 않으므로, 유연탄 발전과 원자력 발전간의 위험도 차이만을 본 논문의 위험도로 간주했다. 인체 위험도 비용은 사망과 질병의 두 경우로 나누어서, 사망의 경우에는 Human Life Value로 계산하고, 질병의 경우에는 완치될 때까지의 치료비등 제반 비용으로 계산했다. 이러한 방법에 의한 계산 결과 사망의 비용은 $250,000이 되었고, 질병의 경우는 $90,000이 되었다. (1986 US$) 그리고 비용편익분석을 통해서 유연탄 화력 발전의 최적 규제 기준치를 구했는데, 이 규제치는 최소 사회비용이 발생되는 지점에서 구해졌다. 서기 2000년의 한국에서의 SOx에 대한 최적 규제치는 165ppm으로 나타났다. 이러한 전력 생산의 경제성 평가 방법으로부터, 원자력이 유연탄 화력에 비해서 더 경제적인 것으로 나타났다. 반면에 불확실도는 유연탄화력이 더 작은 것으로 나타났다.

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지역단위 화재 위험도 저감의 고양시 경제적 파급효과 분석 (Analyzing The Economic Impact of The Fire Risk Reduction at Regional Level in Goyang City)

  • 손민수;조동인;박창근;고현아;정승현
    • 한국산학기술학회논문지
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    • 제22권2호
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    • pp.685-693
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    • 2021
  • 본 연구에서는 '전국GIS건물통합정보표준데이터'의 건축물 공간정보 자료를 활용하여 고양시 지역단위의 화재발생 위험도를 산출하고 화재발생 확률에 따른 산업별 경제적 피해를 분석하였다. 분석의 편의상 공간적 범위는 경기도 고양시로 제한하였고, 지역 단위별로 동일한 화재위험 감소율을 적용하였다. 먼저, 지역별 화재 위험도를 평가하기 위해 건축물 공간정보 자료를 이용하여, DB 구축, 지표 설정, 공간 분석의 과정을 거쳐 표준화된 화재 발생 가능성을 도출하였다. 다음으로 한국은행 산업 연관표 대분류 30개 산업구분과 고양시 사업체조사 20개 산업구분과 매칭하여 고양시 산업연관표를 생성하였다. 최종적으로 화재 위험에 따른 고양시의 산업별 경제적 피해 산출은 고양시 산업연관표와 화재발생 가능성을 결합하여 산출하였다. 화재로 인한 6개월 생산 불가와 영업 손실이라는 기본 시나리오를 설정하여 공급모형을 기반으로 분석하였다. 분석결과, 일산동구, 일산서구, 덕양구의 순으로 경제적 피해가 큰 것으로 나타났고, 산업별로는 '전기, 가스, 증기 및 수도사업'이 가장 큰 손실이 발생하는 것으로 나타났다. 공간과 산업적인 측면에서 일산서구의 '전기, 가스, 증기 및 수도사업' 손실이 전체의 약 60% 비중을 차지하였다.

Factors Affecting Corporate Investment Decision: Evidence from Vietnamese Economic Groups

  • PHAN, Duong Thuy;NGUYEN, Ha Thi
    • The Journal of Asian Finance, Economics and Business
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    • 제7권11호
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    • pp.177-184
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    • 2020
  • This paper analyzes factors affecting corporate investment decisions in economic groups listed on the Vietnam stock market. The panel data of the research sample includes 39 economic groups listed on the Vietnam stock market from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, the investment rate is a dependent variable. Cash-flow (CF), Investment opportunities (ROA), Fixed capital intensity (FCI), Leverage (LEV), Sales growth (GR), Size (SZ), Business risk (RISK) are independent variables in the study. The model results show that cash flow and sales growth have the same impact on investment decisions of economic groups in Vietnam. In addition, investment opportunities have a negative impact on the capital investment decisions of economic groups. The remaining factors include fixed capital intensity, leverage, firm size, and business risks that have a weak and insignificant impact on capital investment decisions of economic groups in Vietnam. The findings of this article are useful for business administrators, and helping business managers make the right financial decisions. Besides, the research results are also meaningful to money management agencies. The authors recommend that the State Bank of Vietnam should maintain a sustainable monetary policy.

Performance Analysis of Economic VaR Estimation using Risk Neutral Probability Distributions

  • Heo, Se-Jeong;Yeo, Sung-Chil;Kang, Tae-Hun
    • 응용통계연구
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    • 제25권5호
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    • pp.757-773
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    • 2012
  • Traditional value at risk(S-VaR) has a difficulity in predicting the future risk of financial asset prices since S-VaR is a backward looking measure based on the historical data of the underlying asset prices. In order to resolve the deficiency of S-VaR, an economic value at risk(E-VaR) using the risk neutral probability distributions is suggested since E-VaR is a forward looking measure based on the option price data. In this study E-VaR is estimated by assuming the generalized gamma distribution(GGD) as risk neutral density function which is implied in the option. The estimated E-VaR with GGD was compared with E-VaR estimates under the Black-Scholes model, two-lognormal mixture distribution, generalized extreme value distribution and S-VaR estimates under the normal distribution and GARCH(1, 1) model, respectively. The option market data of the KOSPI 200 index are used in order to compare the performances of the above VaR estimates. The results of the empirical analysis show that GGD seems to have a tendency to estimate VaR conservatively; however, GGD is superior to other models in the overall sense.

등산 활동 참여동기와 위험지각 수준에 따른 위험감소행동 연구 (Study on Risk Reduction Behavior According to Participation Motivation of Mountain Climbing Activity and Level of Risk Perception)

  • 방기성;유신정
    • 한국의류산업학회지
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    • 제15권4호
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    • pp.523-532
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    • 2013
  • This study investigates risk reduction behavior with risk perception in outdoor wear purchase situations. Data were collected via a questionnaire from 400 consumers between the ages of 20 to 50 residing in Seoul and Kyonggi-do. Data analysis were conducted with SPSS 20 program on the reliability test, factor analysis, cluster analysis, t-test, ANOVA, and Duncan's multiple range test. Factor analyses were employed for the participation motivation of mountain climbing activities, risk reduction behavior and risk perception. Five factors were for the participation motivation of mountain climbing activities (health and fitness, external ostentation, achievement and excitement, improvement of climbing skills, and society). Five factors were for risk perception (fashionability loss and social risk, time and convenience loss, economic risk, performance risk, and psychological risk). Five factors were for the risk reduction behavior (interpersonal information sources use, marketer-dominated information sources use, professional information sources use, pre-purchase deliberation/observation/experience, and brand dependence). Three clusters were identified based on the motivation of outdoor activities (the affiliation/display, the health/internal informativeness and low motivation). The participation motivation for mountain climbing activities were varied. Manufacturers should increase efforts to develop products with good qualities at a reasonable cost as well as establish new marketing strategies since the risk of product performance and economic efficiency in the purchase of outdoor wear was a significant consumer perception.

Safety-Economic Decision Making Model of Tropical Cyclone Avoidance Routing on Oceans

  • Liu, Da-Gang;Wang, De-Qiang;Wu, Zhao-Lin
    • 한국항해항만학회:학술대회논문집
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    • 한국항해항만학회 2006년도 Asia Navigation Conference
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    • pp.144-153
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    • 2006
  • In order to take TC forecasts from different observatories into consideration, and make quantitative assessment and analysis for avoiding TC routes from the view of safety and cost, a new safe-economic decision making method of TC avoidance routing on ocean was put forward. This model is based on combining forecast of TC trace based on neural networks, technical method to determine the future TC wind and wave fields, technical method of fuzzy information optimization, risk analysis theory, and meteorological-economic decision making theory. It has applied to the simulation of MV Tianlihai's shipping on ocean. The result shows that the model can select the optimum plan from 7 plans, the selected plan is in accordance with the one selected by experienced captains.

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부지(敷地)의 지질조건(地質條件)과 지진위험도(地震危險度)와의 관계(關係) (Influence of Ground Conditions on Seismic Risk)

  • 양승진;전명순
    • 자원환경지질
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    • 제14권3호
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    • pp.143-153
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    • 1981
  • Seismic risk maps in Korea are made using Korean historical and modern earthquake data. The risk maps made by several method are presented in contour line of vibratory ground motion(acceleration, velocity, and displacement). The method used are Kawasumi (1951), Kanai (1968), and Hsich et al (1975) method. The maps made by Kawasumi (1951) method represent the acceleration distribution ground and those by Kanai (1968) method show the acceleration, velocity, and displacement at bed rocks, The risk analysis by the method of Hsich et al (1975) shows the probability of acceleration at each of soft, medium and hard grounds in each tectonic province in Korea.

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Market Discipline and Bank Risk Taking: Evidence from the East Asian Banking Sector

  • Hamid, Fazelina Sahul;Yunus, Norhanishah Mohd
    • East Asian Economic Review
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    • 제21권1호
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    • pp.29-58
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    • 2017
  • The third pillar of the Basel II highlights the role of market discipline in easing the existing pressure on traditional monitoring measures like capital requirement and government supervision. This study test the effectiveness of market discipline in inducing prudential risk management practices among the East Asian banks over the 1995 to 2005 period. Market discipline is measured using information disclosure and interbank deposit holdings. We find that only the latter is an effective market discipline tool. However, the former becomes effective when market concentration is higher. We find that government owned, foreign owned and recapilatised banks are subject to market disciplining when disclosure in taken account but the opposite is true when interbank deposits is taken into account. Finally, we find that banks that disclose more risk related information hold more capital against their non-performing loan. The implications of the findings are discussed.

资产价格波动对中国宏观经济风险的影响 (Asset Price Volatility and Macroeconomic Risk in China)

  • Jishi, Piao;Mengjiao, Liu
    • 분석과 대안
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    • 제3권1호
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    • pp.135-157
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    • 2019
  • The linkages between asset prices and macroeconomic outcomes are long-standing issue to both economists and monetary authorities. This paper explores the impact of asset prices on output and price in China. It focuses on the impacts of asset prices on the low quantiles of GDP gap and high quantiles of price gaprespectively. The main findings are the following: the influence of stock price gap, stock returns, and money growth on the different quantile of GDP gap and price gap are noticeable different, and there are significant impacts on the left tail of GDP gap distribution and on the right tail of price gap distribution. This implies that the results coming from simple regression will underestimate the economic risk imposed by asset price volatility. Moreover, these results also provide the caveat that one should cautiously distinguish the meaning of asset price gap and asset price growth rate and use them, through their contents are similar in some sense. One implication for monetarypolicy is that authority should interpret the relationship between asset prices and macro-economy in wider perspectives, and make the policy decision taking the impacts of asset prices on the tails of economy.

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