• Korean Management Science Review
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• 제27권1호
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• pp.45-60
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• 2010

This study evaluates life annuity plans based on two different types of measures : financial benefit and utility on consumption. The financial benefit is measured by Money's Worth (MW) ratio and return on annuity. For the measure of utility, an optimization problem is formulated with the objective of maximizing utility on consumption. To solve the optimization model, we use Dynamic Programming (DP) technique. The both types of measures are applied to cases of Korean pre-retirees at age 40 with different accumulation years of annuity (i.e. level of annuity asset at the age of retirement) and different timings of annuitization. Our results generally indicate that the utility based optimization model is superior to the financial measures in terms of providing a better evaluation of an annuity plan due to its capability to consider an individual's financial situation during his/her retirement period. Also, they suggest that the level of annuity asset is an important factor when an individual determines the optimal annuitization timing.

• Asian Pacific Journal of Cancer Prevention
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• 제16권14호
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• pp.5787-5792
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• 2015

Background: Reported age standardized incidence rates for esophageal cancer in Iran are 0.88 and 6.15 for females and males, at fifth and the eighth ranks, respectively, of cancers overall. The present study aimed to map relative risk using more realistic and less problematic methods than common estimators. Materials and Methods: In this ecological investigation, the studied population consisted of all esophageal cancer patients in Iran from 2005 to 2007. The Bayesian multilevel space-time model with three levels of county, province, and time was used to measure the relative risk of esophageal cancer. Analyses were conducted using R package INLA. Results: The total number of registered patients was 7,160. According to the results, the three-level model with adjustment for risk factors of physical activity and smoking had the best fit among all models. The overall temporal trend was significantly increasing. At county level, Ahar, Marand, Salmas, Bojnoord, Saghez, Sarakhs, Shahroud and Torbatejam had the highest relative risks. Physical activity was found to have significant direct association with risk of developing esophageal cancer. Conclusions: Given to great variation across geographical areas, many different factors affect the incidence of esophageal cancer. Conducting further studies at the individual level in areas with high incidence could provide more detailed information on risk factors of esophageal cancer.

• Journal of Korea Trade
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• 제23권5호
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• pp.45-65
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• 2019

Purpose - As the well-known Structure-Conduct-Performance paradigm implies, risk structure of a corporation may affect its risk management activity and the activity may in turn determine its performance. Depending on its goal, Foreign Direct Investment (FDI) can shape its risk structure, risk management and its performance. Under this assumption, we investigate the relationship between the goals of FDI and risk management for the first time in academics. Design/methodology - This empirical research uses a survey of 279 current Korean enterprises' FDIs in China with the recently developed business risk quadrant model. Companies are classified into either a market- or an efficiency-seeking group, to identify how each group perceives and manages risks, and values the performance of risk management. Also, we apply integrated risk management method that multinational corporations have introduced in China, then verify the mediating effect between risk factors and performance. Findings - Our research shows the FDIs can expose themselves to differing risk structure although risk management activities simply represent the level of empowerment given to local management by headquarter due to limit of sample size despite diversity of risk and risk management tools. To sum, market seekers are found to have more strategic risk (revenue related risk) than efficiency seekers with financial risk (cost related risk). The market seekers can manage their risk by empowering their local organisation while the efficiency does the opposite ways. The risk management appears to be successful in general. Originality/value - Previous studies on small and medium enterprises' FDIs to China have concentrated on the analysis of entry determinants, withdrawal factors and individual risk management. Meanwhile, this research establishes enterprise-wide risk factors faced by the companies that advance into China, according to the method of the classification by ERM and verifies if they could synthetically improve performance through risk corresponding measures.

• Journal of information and communication convergence engineering
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• 제19권4호
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• pp.228-233
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• 2021

In this study, we analyze the credit information (loan, delinquency information, etc.) of individual business owners to generate voluminous training data to establish a bankruptcy prediction model through a partial synthetic training technique. Furthermore, we evaluate the prediction performance of the newly generated data compared to the actual data. When using conditional tabular generative adversarial networks (CTGAN)-based training data generated by the experimental results (a logistic regression task), the recall is improved by 1.75 times compared to that obtained using the actual data. The probability that both the actual and generated data are sampled over an identical distribution is verified to be much higher than 80%. Providing artificial intelligence training data through data synthesis in the fields of credit rating and default risk prediction of individual businesses, which have not been relatively active in research, promotes further in-depth research efforts focused on utilizing such methods.

• Journal of Korea Society of Digital Industry and Information Management
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• 제6권4호
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• pp.307-317
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• 2010

The majority of financial and general business organizations have had individual damage from hacking, worms, viruses, cyber attacks, internet fraud, technology and information leaks due to criminal damage. Therefore privacy has become an important issue in the community. This paper examines various elements of the information security management system and discuss about Information Security Management System Models by using the analysis of the financial statue and its level of information security assessment. These analyses were based on the Information Security Management System (ISMS) of Korea Information Security Agency, British's ISO27001, GMITS, ISO/IEC 17799/2005, and COBIT's information security architecture. This model will allow users to manage and secure information safely. Therefore, it is recommended for companies to use the security management plan to improve the companies' financial and information security and to prevent from any risk of exposing the companies' information.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• 제19권4호
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• pp.390-402
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• 2009

This study aimed to examine the general characteristics of individual workers, psychosocial working environment, and ergonomic risk factors which affect the status of musculoskeletal disorders. Self-report was carried out for musculoskeletal symptoms and ergonomic risks in working environment in 856 production workers in 16 small to medium sized manufacturing companies. Musculoskeletal symptoms were examined with a standardized questionnaire, and ergonomic risks were evaluated with a qualitative self-administered instrument for the tasks related to musculoskeletal disorders. Major findings were as follows: 1) Complaint rate for musculoskeletal symptoms was higher in female, aged, married workers with longer working hours, less leisure/hobby activity, longer household working hours and history of disease or accident. 2) Complaint rate for musculoskeletal symptoms was significantly higher in workers with dissatisfaction, difficult tasks, and no self-control at work. 3) Complaint rate for musculoskeletal symptoms was significantly higher in workers involved in tasks with major ergonomic risk factors, and handling heavy equipment. 4) Explanatory power increased the model with the musculoskeletal symptoms as dependent variable and demographic variables, psychosocial working environment and ergonomic risk factors included, and total explanatory power of 18.6% revealed the significant effect. Based on the results, we can conclude that musculoskeletal symptoms in manufacturing workers are associated with individual demographic characteristics, psychosocial working environment and ergonomic risk factors.

• Journal of Korea Technology Innovation Society
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• 제11권2호
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• pp.241-263
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• 2008

Within any income approach, a discount rate is used to convert some projected free cash flow to its presented value. In case of valuing companies, the most frequently used discount rate is the weighted average cost of capital(WACC) at the aggregate level. But technology valuation is different to discounting aggregate corporate cash flow since it is concerned about individual Intellectual property. Therefore, blindly applying standard discount rate such as WACC in technology valuation is unlikely to lead to the right result. The primary focus of this paper is to establish the structure of discount rate for technology valuation and to suggest the method of estimation. To determine an appropriate discount rate for technology valuation, the level of technology risk, market risk and competitive risk should be included in the structure of discount rate. This paper suggests the build-up model which consists of three components as a expansion of the CAPM. It includes (1) a risk-free rate of return, (2) general market risk premium and beta and (3) intellectual property risk premium related to technology risk and specific target market risk. However, there is no specific check list for examining the intellectual property risk until now and no specific method for quantifying its risk into risk premium. This paper developed the 10 element to determine the level of the intellectual property risk and applied estimation function such as linear function, natural log function and exponential function to transform the level of risk into risk premium. The limitation of this paper is that the range of intellectual property risk premium is inferred based on the information of foreign and domestic valuation agency. Finally, this paper explored the development of an intellectual property discount rate for technology valuation and presented the method in order to quantify the intellectual property risk premium.

• Korea Real Estate Review
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• 제28권3호
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• pp.21-35
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• 2018

The recent performance of residential mortgages demonstrated how default risk operated separately from prepayment risk. In this study, we investigated the determinants of the borrowers' decisions pertaining to early termination through default from the mortgage performance data released by Freddie Mac, involving securitized mortgage loans from January 2011 to September 2013. We estimated a Cox-type, proportional hazard model with a single risk on fundamental factors associated with default options for individual mortgages. We proposed a mortgage default model that included two specifications of delinquency: one using a delinquency binary variable, while the other using a delinquency probability. We also compared the results obtained from two specifications with respect to goodness-of-fit proposed in the spirit of Vuong (1989) in both overlapping and nested models' cases. We found that a model with our proposed delinquency probability variable showed a statistically significant advantage compared to a benchmark model with delinquency dummy variables. We performed a default prediction power test based on the method proposed in Shumway (2001), and found a much stronger performance from the proposed model.

• Safety and Health at Work
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• 제8권2호
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• pp.206-211
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• 2017

Background: Self-reported low back pain (LBP) has been evaluated in relation to material handling lifting tasks, but little research has focused on relating quantifiable stressors to LBP at the individual level. The National Institute for Occupational Safety and Health (NIOSH) Composite Lifting Index (CLI) has been used to quantify stressors for lifting tasks. A chemical exposure can be readily used as an exposure metric or stressor for chemical risk assessment (RA). Defining and quantifying lifting nonchemical stressors and related adverse responses is more difficult. Stressor-response models appropriate for CLI and LBP associations do not easily fit in common chemical RA modeling techniques (e.g., Benchmark Dose methods), so different approaches were tried. Methods: This work used prospective data from 138 manufacturing workers to consider the linkage of the occupational stressor of material lifting to LBP. The final model used a Bayesian random threshold approach to estimate the probability of an increase in LBP as a threshold step function. Results: Using maximal and mean CLI values, a significant increase in the probability of LBP for values above 1.5 was found. Conclusion: A risk of LBP associated with CLI values > 1.5 existed in this worker population. The relevance for other populations requires further study.

• Journal of Preventive Medicine and Public Health
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• 제42권6호
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• pp.371-376
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• 2009

In this article, we reviewed the literature on risk assessment (RA) models with and without molecular genomic markers and the current utility of the markers in the pharmacogenetic field. Epidemiological risk assessment is applied using statistical models and equations established from current scientific knowledge of risk and disease. Several papers have reported that traditional RA tools have significant limitations in decision-making in management strategies for individuals as predictions of diseases and disease progression are inaccurate. Recently, the model added information on the genetic susceptibility factors that are expected to be most responsible for differences in individual risk. On the continuum of health care, from diagnosis to treatment, pharmacogenetics has been developed based on the accumulated knowledge of human genomic variation involving drug distribution and metabolism and the target of action, which has the potential to facilitate personalized medicine that can avoid therapeutic failure and serious side effects. There are many challenges for the applicability of genomic information in a clinical setting. Current uses of genetic markers for managing drug therapy and issues in the development of a valid biomarker in pharmacogenetics are discussed.