• Korea Journal of Hospital Management
• /
• v.25 no.4
• /
• pp.38-47
• /
• 2020

Purposes: The problem in the recent immigration policy and social policy changes for foreigners is that the preliminary analysis or research on the actual impact of the influx of foreigners has not been done enough in Korea yet.. This study is to examine the impact of the Korean health insurance finances on the influx of foreigners. Approach: This study analyzed the health insurance statistics for foreigners and overseas Koreans of the Health Insurance Corporation from 2013 to 2017. The data is the "Status of Health Insurance Premiums for Nationals, Foreigners, and Overseas Koreans from 2013 to 2017" submitted by the National Health Insurance Service to the Health and Welfare Committee during the 2018 National Audit Period. Findings: To summarize the analysis, first, the proportion of foreigners was only 1% of all subscribers (1.7% at work, 1.9% in regions) until 2017. Second, employees at work have a lower pay-to-pay ratio, and local subscribers have a higher pay-to-pay rate, regardless of nationality. Third, as immigrants are mostly concentrated in younger ages, they are healthy and use of hospitals is relatively low. Fourth, in terms of gender distribution, there are many women of childbearing age due to marriage immigration among foreign local subscribers, and more men use hospitals than workers who have a high proportion of males due to childbirth. In conclusion, the impact of immigration on health insurance finances is not large, and has a positive effect on finances. Practical Implications: If we simply consider the financial aspect, encouraging foreigners to subscribe to health insurance has a positive effect on finances. In particular, the more foreign workers are enrolled, the greater the financial gain. In particular, increasing the employment of foreign women through language education, vocational training, and employment support will help finance health insurance. One of the reasons foreign subscribers have a positive impact on health insurance finance is the low medical utilization rate. It can be said that young and healthy foreigners use fewer hospitals and clinics, but another aspect means that foreigners have difficulty using health insurance for various reasons. Therefore, various supports must be accompanied so that foreign subscribers can use medical services when necessary.

• The Journal of the Korea Contents Association
• /
• v.22 no.6
• /
• pp.692-700
• /
• 2022

This study was conducted to analyze firms' death rate and impact factors on the death of Foreign-invested Companies in Korea which is between 20013 and 2017. Cox Proportional Hazard Model took to conduct on the death impact factors, such as 2 characteristics factors of the firm, and 4 financial characteristics variables, variables, and 4 profitability factors. As a result of the impact factors of Foreign-invested Companies' death the Labour(NE) variables of characteristics firm had negative effects. And the Debt(LB), Operating Profit (OP), and Sales Profit (SP) of the financial characteristics had a negative effect. Other factors did not produce significant results. As a result of an empirically comparative analysis of the mortality rate of foreign-invested companies by the Kaplan-Meier method, it was analyzed that fully owned companies and large enterprises had lower extinction risk and greater sustainable management potential than joint ventures or SMEs.

• Journal of Korea Trade
• /
• v.24 no.6
• /
• pp.1-18
• /
• 2020

Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.

• Journal of the Korean Society for Library and Information Science
• /
• v.56 no.4
• /
• pp.377-397
• /
• 2022

The number of public libraries in Korea has been increasing. However, the focus was on quantitative growth, while it did not have much interests in whether its growth trend are have deviations by region, and if that is a fact, what factors caused such a disparity. For this reason, this study analyzes spatial distribution of public libraries in Korea and its affecting factors of regional gap. As a result, public libraries are constantly distributing in the metropolitan area and the distribution of public libraries showed deviations by region. The results of analysis regarding the determinants of public libraries distribution, rate of population growth, the number of businesses and financial independence rate are found to have a positive effect but local taxes per capita are not. Especially economic power of region and financial ability of a local government are key factors of regional disparity. It shows empirically that the supply of public libraries has been determined by the convenience of suppliers.

• The Journal of Asian Finance, Economics and Business
• /
• v.10 no.2
• /
• pp.301-311
• /
• 2023

This research aims to identify the role that small and medium enterprises (SMEs) can play in achieving the economic goals of the vision of Saudi Arabia 2030. The study relied on descriptive analysis, designing a standard model, and analyzing it using the Eviews9 program. The study also adopted the questionnaire as a tool for data collection. The study area covered Alkharj and Hawtat Bani Tamim governorates. The sample size of the study was 142 participants. The study's results confirmed the existence of a significant impact of changes in independent variables (X1, X2, X3, X4), which are (GDP, non-oil exports, number of employees, and public revenues), respectively. The dependent variable (Y) represents the number of small and medium-sized businesses in the Kingdom of Saudi Arabia. Additionally, it was found that 61.3% of small and medium-sized enterprises in the governorates of Al-Kharj and Hawtat Bani Tamim operate in the commercial sector. Most study participants concur that SMEs significantly lowered the unemployment rate and helped boost the GDP rate in the Kingdom of Saudi Arabia. The obstacles and difficulties facing the establishment of these enterprises were financial problems, marketing problems, and corporate monopoly. Furthermore, most of the small and medium l enterprises faced financing problems.

• Health Policy and Management
• /
• v.33 no.1
• /
• pp.55-64
• /
• 2023

Background: Despite the various activities of the regional public hospitals, discussions are being made as to whether or not to continue due to the issue of financial deficit. Therefore, the main factors affecting the fiscal deficit were analyzed with 10-year data. Methods: This study is a panel analysis that analyzed the characteristics of 34 regional public hospitals and influencing factors on medical benefits for 10 years from 2010 to 2019. First, we analyze the determinants of medically vulnerable areas set by the government, analyze the trend of medical profit per 100 beds and medical profit rate from 2010 to 2019, and identify the factors that affect them. Results: Differences in medical profit per 100 beds and medical profit-to-medical profit rate were caused by market share representing regional characteristics, and both indicators improved as the number of outpatients increased. The important influencing variables are the number of doctors and nurses, and both indicators improve when there are specialists, but medical benefits decrease as the number of doctors increases when judged by the number of people per 100 beds. In addition, the number of nurses per 100 beds does not contribute to medical profit and has a negative effect on the medical profit ratio. Conclusion: As only regional characteristics were taken into account for medically vulnerable areas, operational characteristics need to be considered. The greatest impact on the finances of local medical centers is the proper staffing of doctors and nurses, and their efficient arrangement is the most important factor in financial stability.

• Journal of Korean Society for Quality Management
• /
• v.51 no.2
• /
• pp.171-184
• /
• 2023

Purpose: First, this paper suggests an alternative approach to find optimal portfolio (stocks, bonds and ESG stocks) under the maximizing utility of investors. Second, we include ESG stocks in our optimal portfolio, and compare improvement of welfares in the case with and without ESG stocks in portfolio. Methods: Our main method of analysis follows Brennan et al(2002), designed under the continuous time framework. We assume that the dynamics of stock price follow the Geometric Brownian Motion (GBM) while the short rate have the Vasicek model. For the utility function of investors, we use the Power Utility Function, which commonly used in financial studies. The optimal portfolio and welfares are derived in the partial equilibrium. The parameters are estimated by using Kalman filter and ordinary least square method. Results: During the overall analysis period, the portfolio including ESG, did not show clear welfare improvement. In 2017, it has slightly exceeded this benchmark 1, showing the possibility of improvement, but the ESG stocks we selected have not strongly shown statistically significant welfare improvement results. This paper showed that the factors affecting optimal asset allocation and welfare improvement were different each other. We also found that the proportion of optimal asset allocation was affected by factors such as asset return, volatility, and inverse correlation between stocks and bonds, similar to traditional financial theory. Conclusion: The portfolio with ESG investment did not show significant results in welfare improvement is due to that 1) the KRX ESG Leaders 150 selected in our study is an index based on ESG integrated scores, which are designed to affect stability rather than profitability. And 2) Korea has a short history of ESG investment. During the limited analysis period, the performance of stock-related assets was inferior to bond assets at the time of the interest rate drop.

• Health Policy and Management
• /
• v.13 no.3
• /
• pp.129-147
• /
• 2003

This study is to grasp a trend of profitability classified by characteristics of hospitals and to analyze related factors. Subjects are 145 hospitals which have gotten the standardization audit by Korean Hospital Association during 1998-200l. Profitability was measured in the aspect of operation profit rate with operating margin to gross revenue as proxy variables. Independent variables were classified by general factors (ownership, number of beds, period of establishment, competition), financial factors (liabilities to total assets, current ratio, fixed ratio, total asset turnover, inventories turnover), and factors related to patient treatment (average length of stay, bed occupancy rate, new outpatient ratio, admission ratio of outpatients, number of patients per specialist, personnel costs per adjusted inpatient, administrative costs per adjusted inpatient). Hierarchical multiple regression analysis model was used in this study. As a result of hierarchical multiple regression analyzation of operating margin to gross revenue, adjustive $R^2$ of general factors was relatively more powerful. The factors had significant effect on operating margin to gross revenue were ownership(+), number of beds(+), competition(+), current ratio(+), fixed ratio(+), total asset turnover(+), personnel costs per adjusted inpatient(-).

• Management Science and Financial Engineering
• /
• v.7 no.2
• /
• pp.73-90
• /
• 2001

This paper presents the reliability models for redundant systems composed of repairable components whose failure time and repair time distributions are phase-type. It is shown that the distribution of time to system failure is also phase-type. The dependency between components are considered and integrated into the model by the used of the rate adjustment factor. The phase-type representation is constructed for the system through algebraic operations on the parameters of components\` failure time and repair time distributions and the corresponding rate adjustment factors. Types of system structures considered are parallel, k-out-of-N system with load sharing scheme and standby system with operation priority.

• Journal of Korean Society for Quality Management
• /
• v.27 no.3
• /
• pp.51-66
• /
• 1999

This paper empirically investigates the impact of winning a quality award by investigating the rate of return of a firm's stock in the stock market, and by analyzing the contribution and effectiveness to a firm's competitiveness. It also compares the effect of firms winning MB(Malcolm Baldrige) award with that of firms winning Korean quality awards on the stock market. A comparative method is used to analyze the change of award-winning firms'rate of return and then they are classified by time-series, cross-sectional, firm's size, award agency, and the year of receiving the award. The number of firms employed in this study is 74, however, multiple award-winning firms are included in the analysis, which increased the sample size to 118. Results indicate that Korean quality awards improve an award-winning firms'market value but not as much as the MB award did.