• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.14 no.4
• /
• pp.179-190
• /
• 2019

To alleviate financing difficulties of small and medium sized enterprises (SMEs), the government and municipal governments are providing a variety of SME policy funding programs. This study introduced the policy funding program of Gangwon-do and quantitatively analyzed the financial performance of companies supported by the Gangwon-do SME policy fund in the year 2014. Specifically, we compared the financial ratios for three years, from 2013 to 2015, between funded firms and non-funded firms. In addition, we applied a regression analysis to see if the policy funding program contributed to profitability (the operating profit growth and return on equity), stability (the interest coverage ratio and debt-to-equity ratio), and growth (the asset growth and sales growth) of the funded firms. The empirical results show that the firms that received the policy funds did not show any improvement compared to non-funded firms in terms of profitability, stability, and growth. This suggests that Gangwon-do should improve the policy funding program, that currently provides only an interest amount of 2-4% of the corporate loan principal, without any strategic selection criteria for the target funded firms, and without any follow-up management system, after support.

• Journal of Korean Physical Therapy Science
• /
• v.3 no.4
• /
• pp.159-169
• /
• 1996

Every citizen has a right to get the least health care service for their living and should be guaranteed the right of health which is specified in the constitution of Korea. Therefore, health care service should realize the equity and accessibility of service by the equitable distribution which is needed for health care. The objects of this study were the patients who was treated by the physical therapy in health care center(two of them located in cities and others are in agricultural areas). These are the results of our study. First, the age, job, sex and experience of former treatment of objects showed no meaningful statistic difference in the part of convenience of health care center, where as the system of health scurity showed highly meaningful difference. Second, The age, job and system of health care of objects showed no meaningful difference in the part of attitude and appreciation to therapist, where as the experience of former treatment in other center showed highly meaningful difference. Third, The age, job and sex of objects showed no meaningful difference in the part of the appreciation to results of service, where as the system of health scurity and the experience of former treatment in other center showed meaningful difference. To offer the effective physical therapy, the government of province or nation should invest the large amount of financial fund continuously and make the plan of efficient operating system for the physical therapy service room of public health center which is the most nearly located to native citizen. The problem of distance, low reliability to public service, public relation and reliabity should be improved to raise the utility of physical therapy room. And also, the physical therapy room should be opened in health subcenter to offer the condition of the native citizen's healthy life.

• Journal of Digital Convergence
• /
• v.16 no.5
• /
• pp.185-197
• /
• 2018

The purpose of this study is to analyze the Korean ETF market, which is experiencing a rapid increase in the number of stocks, to identify the degree of investment efficiency and to present investment directions. The methodology and procedure are ETF yield, change trends, correlation and regression analysis of the ETFs traded between 2010 and 2018. As a result, the total return of domestic ETFs was 3.51%, which was lower than the KOSPI growth rate and the return on equity ETFs was 4.03%, which was low. Leverage ETF yields were below 3%, which was low. The return on bond and currency ETFs was less than 1%. The most profitable ETFs were index ETFs, followed by domestic and leveraged ETFs. This study has contributed to establishing considerations when purchasing ETFs from the viewpoint of investors. Future research will present the direction of ETF investment more precisely.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.4
• /
• pp.17-25
• /
• 2020

Venture debt is a prominent funding tool to promote scale-up of ventures. In the growth stage, venture firms that need large-scale funding can accelerate their growth by leveraging venture debt without diluting their shares, while venture capitals can quickly recollect their investments by accelerating the growth of the ventures they invest. By supplying venture debt, banks can diversify their asset primarily concentrated on loans, and improve the return on assets. As in the case of Silicon Valley Bank, a leading venture lender, closer cooperation between the two agents is essential to supply venture debt. One is the venture capital, an equity capital supplier, and the other is the bank, a debt capital supplier. To this end, we propose "credit risk sharing venture loans" and "venture loan pooling". The former encourages banks' participation in the venture debt market where the manager of Korean Fund of Funds, KVIC and policy guarantee schemes such as KODIT and KIBO screen or partially absorbe the risks inherent in venture loans. The latter reduces the burden of banking on individual venture loans through securitization.

• Journal of the Korean association of regional geographers
• /
• v.10 no.2
• /
• pp.341-355
• /
• 2004

This thesis is to analyze characteristic of sustainable development in the Nak-dong River. The results are summarized in the followings. 1) The principles which did not consider the equilibrium between development and environment, ecosystem, security. precautionary measure, equity could devise a plan, changes of economic land area, sand & gravel extractions from the riverbed, the river contamination cleanup, dam build 2) The rules which disregard polluter pay and opening participation in public affairs could input of too much province budget and manpower, project team. The measures to solve these problems could be proposed expansion of environmental infrastructure, sustainable sand & gravel extractions from the riverbed, fortifying the assistance of the residents who live in Dam construction site and the peripheral area of Dam, lower local fund rates in national projects, and the creation of management organization.

• Journal of the Korean BIBLIA Society for library and Information Science
• /
• v.23 no.4
• /
• pp.45-69
• /
• 2012

This paper examined the roles of academic libraries in open access journal publishing in terms of monetary supports for publication. As a result, many academic libraries have participated in the cooperative programs such as COPE(Compact for Open-Access Publishing Equity) and $SCOAP^3$(The Sponsoring Consortium for Open Access Publishing in Particle Physics) for authors to publish their research in open access journals. Also, 13 academic libraries in North America have set up the campus-based open access author funds individually. Most of academic libraries in participating COPE did not fund for research that have been published in the hybrid open access journals. In addition to publication funds, academic libraries provided authors or scholarly societies with such services as copyright negotiation, technological supports of the publication process, and the dissemination of open access publications.

• Journal of the Economic Geographical Society of Korea
• /
• v.24 no.4
• /
• pp.446-462
• /
• 2021

The aim of this paper is to examine the long-standing regional disparities and social division in the UK which are considered one of the crucial facts of Brexit. Since Brexit, also, the changed regional development policies are reviewed. Regarding policy perspective, we delve into the process of the UK government's strategic policy choices, such as privatisation of public enterprises and financial reform, amid the neoliberal globalisation in the late 1970s, drawing its implication to us having similar problems. Besides, the UK's self-sustaining regional development fund, policy, and changed governance are dissected with several ongoing debates. Finally, this study asserts the necessity of the social consensus of regional disparity policies and the establishment of the spatial environment particularly in regions left behind, giving the quality and equity of life.

• The Korean Journal of Financial Management
• /
• v.23 no.2
• /
• pp.109-141
• /
• 2006

The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.7 no.2
• /
• pp.35-44
• /
• 2012

This paper provides information for decision making of the managers and the staffs of oriental medicine hospitals through the analyzing financial statement. The oriental medicine hospitals decreased total assets, total gross revenues, and increased debt. Comparison of years 2008 and 2010, oriental medicine hospital's total assets decreased, liabilities increased, total revenue decreased, and showed a continuing deficit. On the other hand, the rate of net worth of the oriental medicine hospitals were high and lower dependence on the borrowings. So the management performance of the oriental medicine hospitals as a whole were good. However some the oriental medicine hospitals were experiencing serious financial difficulties. In order to the hospitals overcome its financial difficulties, they had to rely on short-term borrowings. In consideration of the reserve fund for essential business, the transfers and the net profit ratio to total assets of the operating profit ratio to total assets were the level of commercial interest rates. But the operating profit ratio to the total assets were significantly different according to the hospitals. And 10 hospitals of the operating profit ratio to gross operating revenues were (-), they had problems with profitability. Meanwhile the total amount of capital and the equity capital of reduced hospitals increased, there were significant differences even between hospitals.

• The Journal of Fisheries Business Administration
• /
• v.30 no.2
• /
• pp.1-23
• /
• 1999

In the Northeast Asian region fisheries agreements of the past regarding high seas as an agreement area were transformed or new agreements were introduced in order to conform to the EEZ regime. However, the existing joint regulatory zone which “open” status is somewhat similar to the high sea not only disappear, but also two new systems were established. To begin with, parties of the agreement claimed their EEZs to be from the territorial sea baselines to the extent set forth, problem of the fishery access of the other party under the agreement is to be solved on the principle of reciprocity and on recognizing of the catch results achieved in the past. In regards to the overlapping zones like neutral zone of the East Sea of Korea(Sea of Japan) and neutral zone to the south of the Cheju Island, provisional measures zones in the Yellow Sea and in the East China Sea, and transitional zone of the Yellow Sea special fisheries management systems reflecting the legal character of the zone involved are applied. Moreover, as fisheries agreements defining open sea as an agreement zone are not able to conform to the EEZ regime, so new fisheries agreements must be taken out from old systems and conceptions, and must be understood and enforced from the new point view. Therefore, countermeasures needed to do so should be developed, and their basic structure is as follows. Firstly, the basic concept of the EEZ regime requires that the coastal states have sovereign rights on their sea zones' natural resources and bear responsibilities appropriate to their allowed jurisdiction. Each Northeast Asian state should adjust the structure of fishing industries and employ advanced fisheries management system, and should make efforts toward such issues of the state policy as increasing fishery resources and preserving ocean environment. Secondly, measures should be developed to solve the international fisheries disputes which are to occur under enforcement of the new fisheries agreements system. In regards to the acts of violation the fisheries laws in the foreign EEZ the principle of jail sentence prohibition is established by the UN Convention on the Law of the Sea, and every fisheries agreement reflects this principle. Therefore, the present question is to consider concrete measures to enable the easy release of the seamen, who violated fisheries laws slightly and well-intently, through establishment and management of the guarantee fund needed to make collateral reasonable. Thirdly, Korean-Russian and Russian-Japanese fisheries relations were formed on the basis of the EEZ regime, since 1992 and 1977 respectively, and are expected to maintain mutually beneficial cooperative character. As for Korean-Chinese-Japanese fisheries relations, the operational problems of overlapping zones, and problem of the permits for EEZ mutual access should be solved on the basis of the principle of reciprocity and equity rather than unilaterally from any side.