• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2009년도 춘계 학술논문 발표대회 학계
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• pp.131-135
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• 2009

Domestic construction industry is facing big difficulties by a worldwide financial crisis. Especially the deterioration of liquidity by the reject of banks for project financing and unsold housing project made a big problem on financing for the ongoing and new projects. To solve this, it is critical for construction companies. banking facilities and public organizations to cooperate and support each other. In this study, the methods which each part can do are investigated. Construction companies can do a price reduction, finance condition improvement for deposit and down payment, asset sale and cost reduction. And Public organizations can buy the assets of construction companies with proper price and ease the regulation to activate transactions of real estate. In the case of Banking facilities, they can support arrangement and liquidation of insolvent projects and so on.

• Journal of Construction Engineering and Project Management
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• 제1권3호
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• pp.1-8
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• 2011

Available data on the recent global financial crisis (GFC) show that it lasted between the second quarter (Q2) of 2007 and the fourth quarter (Q4) of 2009. Australia is one of the first economies to fully recover from this crisis. This study explorles the role played by the Australian construction industry in stimulating economic growth during the recession. In order to investigate the macro-variability trend during the financial crisis, data were collected and analysed relating to the quarterly GDP of Australia and selected countries between Q1 2000 and Q4 2009. Specifically, changes in the construction industry's GDP were compared with aggregate GDP changes in Australian economy and similar indices in the 'Group of 7' (G7) countries and Organisation for Economic Co-operation and Development (OECD) countries. Moreover, specific attention was focused on Germany, France, Japan, United States of America (USA) and United Kingdom (UK). Graphical and Pearson's correlation methods were used to analyse the relationships between changes in construction GDP and Australia's overall economic growth during the recession. In addition, an attempt was made to develop a regression model for predicting economic growth during the recent recession using changes in gross fixed capital formation (GFCF), changes in construction GDP and the impact of these changes on national economy. Analysis shows a slight contraction in construction activities during the crisis; however construction triggered significant growth in the economy during the crisis period and afterwards. This appears to be the major difference between Australia and other major economies that have experienced a longer recession.

• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.39-49
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• 2020

This study empirically examines herd behavior for fast moving consumer goods (FMCG) sector stocks under varied market return conditions and the period during the global financial crisis and its aftermath. We examine the sample of stocks trading on the Nifty FMCG Index of the Indian equity market from January 2008 up to December 2018 using the dispersion measure of cross sectional absolute deviation and examine its relationship with the market return to explore herd phenomenon. Quantile regression estimate is used and the results of the study validate rational asset pricing models as the sector does not display herding. In contrast, anti-herd behavior at lower and median quantile values is observed. A possible reason can be the non-cyclical nature of the industry where investors rely more on the fundamentals rather than crowd chasing. We also findthe absence of herd phenomenon during the market asymmetries of bull and bear phases, extreme movements, the period of the global financial crisis, and afterward. We further examine herding under the impact of the information technology (IT) industry and conclude that significant return movements in IT sector impact dispersions in the FMCG industry. Also, there is a co-varying risk between the two sectors confirming the spillover in an integrated market.

• Asia Marketing Journal
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• 제6권3호
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• pp.157-171
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• 2004

이 사례는 KT&G가 환경변화에 적응하는 전략을 소개하는 것이다. KT&G의 주력제품인 담배는 이미 암의 발생원인으로 지목되어 사회적 운동으로 금연캠페인을 하고 있을 정도로 시장여건이 좋지 않다. 위협 수준이 아니라 위기 수준이라고 할 수 있다. 이러한 위기를 기회로 전환시키는 전략으로 KT&G는 크게 네 가지 방향을 모색하고 있다. 먼저, 사회적인 저항 속에서도 흡연자는 꾸준히 존재하는 점을 감안하여 철저한 세분화전략으로 신제품을 출시하고 있다. 둘째, 타 소비재와 마찬가지로 고품질의 담배를 개발하여 브랜드파우워를 높이는 전략을 구사하고 있다. 셋째, 담배가 바이오산업의 핵심이 될 수 있음을 감안하여 기업이미지를 바이오와 연결시키려 노력하고 있다. 끝으로, KT&G의 강점인 인삼을 활용하여 웰빙산업에 진출하려는 관련 다각화의 계획을 가지고 있다.

• Agribusiness and Information Management
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• 제12권1호
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• pp.6-16
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• 2020

This is a summary of a comparative study of the national policies to foster the agri-food industry implemented by the leading countries of the industry before and after the COVID-19-induced global economic crisis. By comparing the policies of each country, we discovered that key leading countries of the agri-food industry had given up or suspended one-on-one, face-to-face support programs that they had maintained for years, and have started providing financial assistance to companies or self-employed people in relative industries. Korea should implement such decisive policies for the Korean agri-food industry to tackle this unprecedented economic shrink and maintain the competitiveness of the industry. Considering the scale and speed of the spreading of the pandemic, the new policies should be implemented swiftly and boldly. This study can be used as a base material for developing new policies to minimize damage to the agri-food industry and national economy caused by COVID-19.

• 좋은식품
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• 통권209호
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• pp.17-25
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• 2009

• KDI Journal of Economic Policy
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• 제41권1호
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• pp.1-14
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• 2019

This paper studies whether export diversification mitigated the negative effect of the global financial crisis on exports using the Korean case. Specifically, we use annual data on the exports of 24 Korean manufacturing industries from 2000 to 2016 and examine whether the negative effect of the crisis on exports was less prevalent in industries that were more diversified in terms of country and product. We also examine whether export competitiveness, as measured by the revealed comparative advantage index by industry, had a mitigating effect on trade during the crisis. In order to study these issues, we use panel regression with a fixed-effect model for 24 Korean manufacturing industries. From our empirical analysis, we find that country diversification weakened the negative impact of the global financial crisis on Korea's exports, whereas neither product diversification nor export competitiveness did so.

• 품질경영학회지
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• 제42권1호
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• pp.91-109
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• 2014

Purpose: This study compares quality crisis and management at Hyundai Motor in the late 1990s and Toyota Motor in the late 2000s. We can expect to induce more meaningful policy implications in quality management from this in-depth comparative case study. Methods: This study compares two cases at Hyundai and Toyota Motor how to overcome quality crisis based on the OESP (Organization-Environments-Strategy- Performance) model. Results: Hyundai Motor shows centralized approach based on the asymmetric organizational culture and the entrepreneurial leadership but Toyota shows decentralized, systematic approach based on the steady state leadership and symmetric organizational culture. The CEO's leadership have proved to be one of the important factors at both companies. Conclusion: The effective quality management in global contexts has become more and more difficult for the 'complexity explosions' in automobile industry. As a consequence, the future competitive edge of world automobile industry will come from the effective quality management of products in global contexts.

• 산경연구논집
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• 제9권5호
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• pp.37-46
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• 2018

Purpose - This paper explores the determinants of bank lending to firms during and after the global financial crisis using firm- and bank-level data to answer the questions what caused the contraction of lending to firms despite the loosening monetary policy during this crisis period. Research design, data, and methodology - We investigate the effects of the monetary policy that followed the global financial crisis on firms borrowing. We use a dynamic panel model to address how firms lending respond to monetary policy. The data are obtained from CRETOP and we consider the manufacturing sector for the analysis to control for unobserved heterogeneity such as industry-specific shocks. Results - The findings from the empirical analysis suggest that both bank- and firm-level characteristics are significant determinants of bank lending. Especially, we find that corporate risk, measured by default risk, is one of the key factors that led to a decline in lending during the crisis. Conclusions - This paper shows that companies borrow more from liquid banks, and high bank capital can also contribute to an increase in a firm's borrowing from banks. Especially, the results confirm that the default rate measured at the firm level has increased during and after the global financial crisis, which implies that default risk interplays with other firm and bank-level characteristics.

• 월간포장계
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• 통권139호
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• pp.62-75
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• 2004