• 제목/요약/키워드: International trade flow

검색결과 93건 처리시간 0.025초

기업지배구조와 실제이익조정의 관계 연구: 외국인투자자와 성장성을 중심으로 (A study of the relationship between corporate governance and real earnings management: Based on foreign investors and growth)

  • 강신애;김태중
    • 유통과학연구
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    • 제12권4호
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    • pp.85-92
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    • 2014
  • Purpose - This study conducted empirical research on non-financial corporations listed on the stock exchange from 2001 to 2010, focusing on the effects of corporate governance on real earnings management of corporations. In particular, this study examined primarily the impact of the largest shareholder who could use earnings management to pursue his own self-interest, and foreign investors who played a checking role against the largest shareholders. The study also reviewed the relationship between corporate governance and earnings management while also considering corporate growth. Research design, data, and methodology - As for the measurements of real earnings management, abnormal operating cash flow and abnormal production cost were utilized. As for the independent variables, share ratio of the largest shareholder and affiliate person (M) and share ratio of foreign investors (FT) were leveraged. This study excluded those organizations that had changed their fiscal years, those that had not submitted an audit report, corporations under supervision, delisted corporations, corporations that had changed their business type, and so on, from the non-financial corporations out of the publicly traded corporations whose fiscal year ended in December from 2001 to 2010 in addition, KIS values were utilized for the corporate financial data in the study. To verify whether management structure and growth had an impact on real earnings management of a corporation through empirical analysis, a multiple regression analysis model was applied. Result - First, as a result of the analysis, the share ratio (M) of the largest shareholder and affiliate person was found to have a significant positive correlation with abnormal cash flow from operations(ACF) and abnormal production cost (APD). When controlling the growth, the share ratio (M) of the largest shareholder and affiliate person was found to have an insignificant correlation with abnormal cash flow from operations(ACF) but a significant correlation with abnormal production cost (APD). Second, foreign ownership (FT) was found to have a significant positive correlation with abnormal cash flow from operations(ACF) and abnormal production cost (APD) at the confidence level of 1 percent when not including the growth dummy. When controlling the growth, foreign ownership (FT) was found to have a significant negative correlation with abnormal cash flow from operations (ACF) and with abnormal production cost (APD). Conclusion - The results imply that the largest shareholder is closely related to earnings management through real activities regardless of corporate growth. It is also possible to determine from these results that foreign investors are related to earnings management through real activities when not considering corporate growth, but that they would reduce earnings management in the case of considering the growth. Thus, this study verified along with the existing studies that foreign investors were conducting the control function on controlling shareholders.

여수반도권 지역발전을 위한 컨벤션센터의 입지분석 및 건립전략 (Establishment Strategies and Location Analysis of Convention Center for Regional Development of The Yosu Peninsular Area)

  • 이정록
    • 한국지역지리학회지
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    • 제2권2호
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    • pp.133-157
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    • 1996
  • 컨벤션의 유치와 개최는 인적 물적 교류를 통한 국제 상호간의 이해를 증진시키고, 지역정제를 활성화시킨다는 측면에서 지역정책론자들의 관심의 대상이 되고 있다. 컨벤션센터는 도시의 정치 경제 문화의 중심적인 기능을 수행하기 때문에 선진국의 대부분 도시에는 컨벤션센터가 건립되어 있다. 컨벤션 및 컨벤션 산업은 일반 관장산업과는 달리 부가가치가 매우 높은 관광활동이기 때문에 오늘날 대도시의 새로운 관광산업으로 등장하고 있다. 본 연구는 다가오는 21세기 여수반도권의 여건변화를 고려하여 여수반도권의 컨벤션센터 건립의 필요성, 컨벤션센터의 입지성 분석, 지역 여건에 적합한 리조트형 컨벤션센터의 건립방향 및 추진전략을 제시해 보았다. 특히 여수반도권은 다가오는 2000년대에 환태평양시대 동북아 경제권의 해운 항만의 거점중심지, 중화학 철강 기계 등을 중심으로 한 우리 나라의 신산업지구로 기능하여 새로운 해상위락 관광재발의 요구가 증대될 지역으로 전망된다. 이러한 지역 내외적 변화에 적극적으로 대처하기 위한 방안의 하나로서 컨벤션센터의 건립이 요구된다. 그리고 선진국의 임해지역에서 활용하고 있는 텔레포트 기능과 리조트 기능, 그리고 컨벤션 기능을 적절하게 조화시키는 것이 매우 필요하며, 이를 위해서는 리조트형 컨벤션센터의 건립이 필요하다.

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인터넷을 활용한 중국정보제공 서비스에 관한 비교연구 : 중국전문가포럼 구축현황을 중심으로 (A Comparative Study of Internet Services Providing Information on China : Focusing on the Formation of the China Specialist Forum)

  • 정다송
    • 정보관리연구
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    • 제33권3호
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    • pp.87-104
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    • 2002
  • 중국시장 및 중국의 국제적 정치적 위상의 강화로, 우리는 경제의 활력을 보충해 나가고 21세기 성장 흐름을 새롭게 창출해 나가기 위해 중국과의 교류협력을 증진시킬 필요성이 더욱 높아지고 있다. 이를 위한 정보의 공유, 전문가 양성, 중국전문가 간의 네트워크, 중국정보 DB및 정보공유체제의 확립이 불가피한 현실이다. 이에 따라 대외경제정책연구원에서는 제한된 전문인력과 정보를 최대한 활용하여, 체계적이고 종합적인 대중국 교류협력 증진에 발판이 될 중국정보 포탈시스템인 중국전문가포럼웹사이트(China Specialist Forum WebSite : CSF)를 개발하였다. 중국전문가가 필요로 하는 정보를 한 곳에서 편리하고 신속하게 제공받을 수 있고, 단순 정보제공의 차원을 넘어서 중국방면의 학술, 무역, 기타 이슈들을 상호교류할 수 있도록 설계한 국내 최대규모의 중국정보포털사이트인 CSF의 분석과 대만의 중국무역포털사이트인 $\ulcorner$대륙과 대만의 전 세계 상업정보망-대륙대상전구자신망(大陸臺商全球資訊網)$\lrcorner$, 싱가포르의 IE Singapore를 비교 분석함으로써 중국정보 전문 포털사이트의 발전방향을 제시했다.

A Numerical Study on the Geometry of Jet Injection Nozzle of a Coanda Control Surface

  • Seo, Dae-Won;Kim, Jong-Hyun;Kim, Hyo-Chul;Lee, Seung-Hee
    • Journal of Ship and Ocean Technology
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    • 제12권3호
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    • pp.36-54
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    • 2008
  • A jet stream applied tangential to a curved surface in fluid increases lift force by strengthening circulation around the surface and this phenomenon is known as the Coanda effect. Many experimental and numerical studies have been performed on the Coanda effect and the results found to be useful in various fields of aerodynamics. Recently, preliminary studies on Coanda control surface are in progress to look for practical application in marine hydrodynamics since various control surfaces are used to control behaviors of ships and offshore structures. In the present study, the performance of a Coanda control surface with different geometries of the jet injection nozzle was surveyed to assess applicability to ship rudders. A numerical simulation was carried out to study flow characteristics around a section of a horn type rudder subjected to a tangential jet stream. The RANS equations, discretized by a cell-centered finite volume method were used for this computation after verification by comparing to the experimental data available. Special attentions have been given to the sensitivity of the lift performance of a Coanda rudder to the location of the slit (outlet) and intake of the gap between the horn and rudder surface at the various angles of attack. It is found that the location of the water intake is important in enhancing the lift because the gap functions as a conduit of nozzle generating a jet sheet on the rudder surface.

Will CFD ever Replace Wind Tunnels for Building Wind Simulations?

  • Phillips, Duncan A.;Soligo, Michael J.
    • 국제초고층학회논문집
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    • 제8권2호
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    • pp.107-116
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    • 2019
  • The use of computational fluid dynamics (CFD) is becoming an increasingly popular means to model wind flows in and around buildings. The first published application of CFD to both indoor and outdoor building airflows was in the 1970's. Since then, CFD usage has expanded to include different aspects of building design. Wind tunnel testing (WTT) on buildings for wind loads goes back as far as 1908. Gustave Eiffel built a pair of wind tunnels in 1908 and 1912. Using these he published wind loads on an aircraft hangar in 1919 as cited in Hoerner (1965 - page 74). The second of these wind tunnels is still in use today for tests including building design ($Damljanovi{\acute{c}}$, 2012). The Empire State Building was tested in 1933 in smooth flow - see Baskaran (1993). The World Trade Center Twin Towers in New York City were wind tunnel tested in the mid-sixties for both wind loads, at Colorado State University (CSU) and the [US] National Physical Laboratory (NPL), as well as pedestrian level winds (PLW) at the University of Western Ontario (UWO) - Baskaran (1993). Since then, the understanding of the planetary boundary layer, recognition of the structures of turbulent wakes, instrumentation, methodologies and analysis have been continuously refined. There is a drive to replace WTT with computational methods, with the rationale that CFD is quicker, less expensive and gives more information and control to the architects. However, there is little information available to building owners and architects on the limitations of CFD for flows around buildings and communities. Hence building owners, developers, engineers and architects are not aware of the risks they incur by using CFD for different studies, traditionally conducted using wind tunnels. This paper will explain what needs to happen for CFD to replace wind tunnels. Ultimately, we anticipate the reader will come to the same conclusion that we have drawn: both WTT and CFD will continue to play important roles in building and infrastructure design. The most pressing challenge for the design and engineering community is to understand the strengths and limitations of each tool so that they can leverage and exploit the benefits that each offers while adhering to our moral and professional obligation to hold paramount the safety, health, and welfare of the public.

디지털 데이터 중심의 AI기반 환경인지 생산기술 개발 방향 (Development of AI-based Cognitive Production Technology for Digital Datadriven Agriculture, Livestock Farming, and Fisheries)

  • 김세한
    • 전자통신동향분석
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    • 제36권1호
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    • pp.54-63
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    • 2021
  • Since the recent COVID-19 pandemic, countries have been strengthening trade protection for their security, and the importance of securing strategic materials, such as food, is drawing attention. In addition to the cultural aspects, the global preference for food produced in Korea is increasing because of the Korean Wave. Thus, the Korean food industry can be developed into a high-value-added export food industry. Currently, Korea has a low self-sufficiency rate for foodstuffs apart from rice. Korea also suffers from problems arising from population decline, aging, rapid climate change, and various animal and plant diseases. It is necessary to develop technologies that can overcome the production structures highly dependent on the outside world of food and foster them into export-type system industries. The global agricultural industry-related technologies are actively being modified via data accumulation, e.g., environmental data, production information, and distribution and consumption information in climate and production facilities, and by actively expanding the introduction of the latest information and communication technologies such as big data and artificial intelligence. However, long-term research and investment should precede the field of living organisms. Compared to other industries, it is necessary to overcome poor production and labor environment investment efficiency in the food industry with respect to the production cost, equipment postmanagement, development tailored to the eye level of field workers, and service models suitable for production facilities of various sizes. This paper discusses the flow of domestic and international technologies that form the core issues of the site centered on the 4th Industrial Revolution in the field of agriculture, livestock, and fisheries. It also explains the environmental awareness production technologies centered on sustainable intelligence platforms that link climate change responses, optimization of energy costs, and mass production for unmanned production, distribution, and consumption using the unstructured data obtained based on detection and growth measurement data.

국제항공법상 화물.수하물에 대한 운송인의 책임상한제도 - 미국의 판례 분석을 중심으로 - (The Limitation of Air Carriers' Cargo and Baggage Liability in International Aviation Law: With Reference to the U.S. Courts' Decisions)

  • 문준조
    • 항공우주정책ㆍ법학회지
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    • 제22권2호
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    • pp.109-133
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    • 2007
  • The legal labyrinth through which we have just walked is one in which even a highly proficient lawyer could easily become lost. Warsaw Convention's original objective of uniformity of private international aviation liability law has been eroded as the world community ha attempted again to address perceived problems. Efforts to create simplicity and certainty of recovery actually may have created less of both. In any particular case, the issue of which international convention, intercarrier agreement or national law to apply will likely be inconsistent with other decisions. The law has evolved faster for some nations, and slower for others. Under the Warsaw Convention of 1929, strict liability is imposed on the air carrier for damage, loss, or destruction of cargo, luggage, or goods sustained either: (1) during carriage in air, which is comprised of the period during which cargo is 'in charge of the carrier (a) within an aerodrome, (b) on board the aircraft, or (c) in any place if the aircraft lands outside an aerodrome; or (2) as a result of delay. By 2007, 151 nations had ratified the original Warsaw Convention, 136 nations had ratified the Hague Protocol, 84 had ratified the Guadalajara Protocol, and 53 nations had ratified Montreal Protocol No.4, all of which have entered into force. In November 2003, the Montreal Convention of 1999 entered into force. Several airlines have embraced the Montreal Agreement or the IATA Intercarrier Agreements. Only seven nations had ratified the moribund Guatemala City Protocol. Meanwhile, the highly influential U.S. Second Circuit has rendered an opinion that no treaty on the subject was in force at all unless both affected nations had ratified the identical convention, leaving some cases to fall between the cracks into the arena of common law. Moreover, in the United States, a surface transportation movement prior or subsequent to the air movement may, depending upon the facts, be subject to Warsaw, or to common law. At present, International private air law regime can be described as a "situation of utter chaos" in which "even legal advisers and judges are confused." The net result of this barnacle-like layering of international and domestic rules, standards, agreements, and criteria in the elimination of legal simplicity and the substitution in its stead of complexity and commercial uncertainty, which manifestly can not inure to the efficient and economical flow of world trade. All this makes a strong case for universal ratification of the Montreal Convention, which will supersede the Warsaw Convention and its various reformulations. Now that the Montreal Convention has entered into force, the insurance community may press the airlines to embrace it, which in turn may encourage the world's governments to ratify it. Under the Montreal Convention, the common law defence is available to the carrier even when it was not the sole cause of the loss or damage, again making way for the application of comparative fault principle. Hopefully, the recent entry into force of the Montreal Convention of 1999 will re-establish the international legal uniformity the Warsaw Convention of 1929 sought to achieve, though far a transitional period at least, the courts of different nations will be applying different legal regimes.

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실물옵션을 이용한 항만배후단지의 가치평가 -부산신항 배후단지 사례분석을 중심으로- (Economic Evaluation of Port Hinterlands Using Real Option -Focusing on the Case Study for Hinterland of Busan New Port-)

  • 김명희;이기환
    • 한국항만경제학회지
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    • 제28권3호
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    • pp.235-257
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    • 2012
  • 최근 변화하는 항만수요 요구에 신속하게 대응하기 위하여 항만은 그 역할변화를 모색하고 있다. 무역을 위한 단순한 장소가 아닌 로지스틱 체인의 중요한 한 노드로서 기능을 하는 항만으로 변모하고 있다. 항만이 로지스틱 체인 속의 경쟁우위 요소로서 그 역할을 다하기 위해 항만 배후단지 공급의 필요성을 역설한 연구들이 다수 등장하였고 각 항만국들은 앞다투어 항만개발계획을 수립하고 있는 실정이다. 우리 정부 역시 "전국 무역항 항만배후단지 개발 종합계획(2006)"을 통해 아시아의 로지스틱 허브항을 육성하기 위한 항만배후단지 개발계획을 발표했다. 항만배후단지 개발을 위한 투자평가에 대한 선행연구들을 살펴보면 대부분 전통적인 투자평가 기법인 DCF(discounted cash flow)를 이용해 그 가치평가를 실시하고 있다. 그러나 항만개발사업의 경우 거대 초기 투자가 필요하고 장기간의 투자회수 기간이 소요되어 기존의 DCF법에 의한 투자평가는 미래의 불확실성에 대한 가치를 과소평가할 여지가 있다. 이에 본 연구에서는 실제 항만배후단지 경제성평가 데이터를 이용하여 기존의 DCF법과 실물옵션 가치법의 결과값을 비교 분석하였다. 그 결과 DCF에 의한 항만배후단지 경제성평가 결과는 NPV는 -73,601(백만)원, B/C ratio는 0.97, IRR은 5.06%을 보여 개발에 대한 모호함이 있으나, 실물옵션을 이용하여 추정된 확장된 NPV 값은 1,839,000(백만)원으로 개발에 대한 긍정적인 결과 값이 도출되었다. 본 연구는 실증연구를 통해 불확실성이 큰 항만투자영역에 있어 불확실성의 가치를 반영하지 못하는 DCF법을 보완할 수 있는 새로운 평가방법으로 실물옵션법의 유용성을 소개하고자 한다.

유해폐기물 생애 전주기 흐름 기반 정보 관리 전략 (An Information Management Strategy Over Entire Life Cycles of Hazardous Waste Streams)

  • 이상훈;김정은
    • 청정기술
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    • 제26권3호
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    • pp.228-236
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    • 2020
  • 우리나라는 제조업 중심의 경제구조상 각종 유해폐기물이 발생하고 있으나 매립후보지가 적고 소각처리의 경우 미세먼지의 발생에 대한 우려가 커서 전통적인 폐기물 처리가 쉽지 않다. 더구나 최근에는 개발도상국의 유해폐기물 수입규제, 배달문화의 보편화와 보건위기사태까지 겹쳐 폐기물 수거 및 적체 문제가 심화되고 있다. 본 연구에서는 특히 최근 폐기물 국제 규제 관련 추세에 맞춘 국내 폐기물 정보관리 전략을 제시하려 하였다. 그 내용은 (1) 국내 유해폐기물 분류 코드와 바젤협약 등 국제적 코드와의 정합성을 제고하려는 노력을 지속해야 하며 (2) 폐전자제품내 희토류 등 저함량 성분의 혼합 유해성을 고려해야 하고 (3) 유해폐기물 전주기 위해성을 기반으로 하는 관리가 수행되어야 한다. 또한 (4) 올바로시스템, 화학물질배출·이동량 정보공개시스템 및 폐기물 수출입 자료 등을 서로 연동하여 폐기물 상세 흐름 정보를 구축하고 (5) 센서와 지리정보 시스템 등을 활용하여 폐기물 흐름의 감시와 불법오염지역의 예측이 필요하다. 마지막으로 (6) 청정기술과 전과정평가 등으로 처리/재활용의 최적대안을 선정/수행하는 것이 바람직하다.

로짓분석을 통한 중소기업 정책자금 지원의 위험예측력에 대한 연구 (The Study on the Risk Predict Method and Government Funds Supporting for Small and Medium Enterprises)

  • 최창열;함형범
    • 경영과정보연구
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    • 제28권3호
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    • pp.1-23
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    • 2009
  • 본 연구에서는 중소기업 정책자금을 지원받는 상장기업을 대상으로 위험 예측모형을 제시하고자 한다. 정책자금을 지원하는 기관 입장에서는 대상기업의 위험성을 판단하는 것은 자산의 건전한 운용을 위해 중요한 과제일 것이다. 리스크 예측 방법은 J.P.Morgon의 CreditMetrics를 이용한 보증기관의 경제자본 측정과 신용자산배분, 극단적 상황에서 이용할 수 있는 스트레스 테스팅(stress testing)기법, 판별 분석 모형, 로짓분석 등 다양한 방법이 존재한다. 본 연구에서는 로짓분석을 통해 정책자금의 건전한 운용을 위해 정책자금 지원 기관에 대한 부실위험을 살펴본다. 분석을 위해 먼저 기존 연구에 대한 검토와 최근 기업도산의 상황을 감안하여 14개의 재무지표를 선정한 다음 수행한 로짓회귀분석의 결과 추정계수로 로짓반응함수와 로지스틱 반응함수를 구성할 수 있다. 여기서는 정상기업/도산기업에 있어서 자기자본대타인자본비율, 매출액경상이익율, 총자산영업이익율, 총자산회전율, 매출채권회전율, 재고자산회전율만이 도산가능성을 예측하는데 유용한 변수로 선택되었다. 이는 재무비율 상호간의 높은 상호간 관계로 인하여 다수의 재무비율이 지닌 정보의 대부분이 소수의 재무비율에 의하여 파악될 수 있음을 의미한다. 또한 부실기업/도산기업의 구분에 있어서는 모든 비율이 두 그룹을 구분 짓는데 설명력이 높음을 나타내고 있다. 또한 총자산이익잉여금율이 높은 기업일수록 도산가능성이 낮다는 것을 두 그룹 모두에서 보여주고 있으며 회귀계수의 유의수준도 가장 높다. 금융비용부담율 또한 그 비율이 높은 기업일수록 도산가능성이 높다는 것을 제시하고 있다. 순운전자본비율, 자기자본비율, 매출액순이익율, 총자산영업이익율, 총자산회전율, 재고자산회전율은 도산기능성에 기대된 (-)의 영향을 미치는 것으로 나타나고 있다.

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