• Title/Summary/Keyword: Market Efficiency

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What Can Koreans Learn from the Dutch Experiences in Reforming the Health Insurance System? (한국의료보험제도(韓國醫療保險制度)의 개혁필요성(改革必要性)과 네덜란드의 경험(經驗)이 주는 교훈(敎訓))

  • Kwon, Soon-won;Sunwoo, Duk
    • KDI Journal of Economic Policy
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    • v.12 no.3
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    • pp.47-69
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    • 1990
  • The measures taken to reform the Dutch health insurance system hold valuable lessons for countries such as Korea, where there has been increased concern regarding the efficiency and effectiveness of the health services provided. The growing literature on comparative health insurance policies suggests that nations can learn from each other. In addition, Korean policymakers have shown great interest in the health insurance systems of foreign countries, particularly in Japan. The development of Korea's health insurance scheme during the past 12 years has made a significant contribution to the increased accessibility of health care services. Although the insurance coverage is universal, the health insurance system today in Korea is by no means a product of systematic and planned efforts. Moreover, it lacks due considerations of insured's needs as well as the long-term objectives of the social security health care system. There are growing gaps in premium burdens and benefits between the rural health insurance program and the employee's health insurance programs. Furthermore, the regional health insurance program is experiencing financial difficulties in spite of the fact that the amount of the government subsidy has been sharply increased in recent years. Under the present payment method solely based on the fee-for-service schedule, both consumers and providers are encouraged to utilize and prescribe more services. The combination of the utilization-inducing reimbursement system and continuous pushes for expanding health insurance has played a crucial role in raising the country's medical bills. Current trends in Korea's health care sector and those anticipated in the near future necessitate changes in the structure and funding of health care. As indicated in the above, there are various shortcomings in this context, the health policy authority in Korea can draw valuable lessons from the Dutch experiences in reforming their health insurance system. The main elements of the Dutch reform measures are a restructuring of the insurance system and a greater role for market forces in the health care system. On this basis a new system will be created which reflects the social nature of health care while at the same time containing sufficient mechanisms to allow the health care sector to operate in a cost-effective and efficient manner.

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Corporate Governance and Shareholder Wealth Maximization : An Analysis of Convertible Bond Issues (전환사채 발행과 주주 부의 극대화 : 기업지배구조와의 관계를 중심으로)

  • Park, Jin-Woo;Baek, Jae-Seung
    • The Korean Journal of Financial Management
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    • v.20 no.2
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    • pp.1-39
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    • 2003
  • Using a comprehensive sample of convertible security offerings by Korean firms from 1981 to 1999, we examine the effect of convertible bond issues on firm value. We find that the announcement of convertible bond issues has a positive effect on firm value. However, the announcement of private convertible bond issues by chaebol firms has a significant negative effect on their market values. This result is different from that in Japan, suggesting that the efficiency of the financing decision by Korean chaebol is different from that by Japanese keiretsu. In addition, we find that the announcement effect of private convertible bond issues by chaebol firms has a significant relation with the corporate governance variables such as ownership structure, bank relationship. These results indicate that convertible bond issues can be used as a mechanism for chaebol owner-manager to give rise agency problems at the expense of the wealth of minority shareholders.

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Quality of Retailer Education Program and its Effect on Loyalty and Business Performance (교육서비스 품질이 지원 사업 충성도와 경영성과에 미치는 영향 : 사업체 형태를 중심으로)

  • Park, Woo Seok;Rhee, Cheul;Lim, Jae Ik
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.8 no.1
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    • pp.127-136
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    • 2013
  • In 2013, the small retailer organized support service, which commenced in 2009, has been expanding its place in the policy by transforming into a small retailer cooperating support service. This support service supports two main sides. One of them is strengthening the financial aspects of the scale by organizing the small retailers in order to make the distribution efficient. The second is improving the management and enhancing the efficiency through visitation education. This research focuses on studying the effects of the visitation education which is one of the two aspects of small retailers support service. Empirical analysis on the effects of the visitation education's quality on the loyalty of support service and business performance was performed in detail by dividing the structure of the companies into chain form and combined form of small retailers. According to the results of the analysis, the visitation education's quality positively affected the support service's loyalty without any restrictions on the structures of the retailers. However in the business performances, the visitation education's quality only showed positive effects on the combined form of small retailers. Therefore, it is implied that in order to continuously receive support program by increasing the loyalty of the retailers, the quality of the visitation education must be increased and the retailer support service need to be considering the structure of the companies in order to improve small retailer's business performance.

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Controlling Effect of Some Environmentally Friendly Agents on Garlic Leaf Blight in Garlic (마늘 잎마름병에 대한 친환경제제 방제효과)

  • Ryu, Young-Hyun;Huh, Chang-Seok;Kim, Dong-Geun;Yeon, Il-Kwon;Jo, Woo-Sik;Ryu, Jung-A
    • Korean Journal of Organic Agriculture
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    • v.23 no.2
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    • pp.347-357
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    • 2015
  • This experiment was conducted to test the efficiency of environmentally friendly materials for controlling garlic leaf blight by Stemphylium botryosum. Fifty five kinds of environmental friendly control agents are obtained from commercial market and are tested for spore germination using 96 well plate and among them, five agents (copper-, sulfur-, medinal herb extract-, sulfur+sodium bicarbonate- and oligo chitosan based compound) are selected for field test from 2012 and 2013 year. With reference of 2012 year test result, copper and oligo chitosan based compounds are chosen as 2013 year test. When the first symptoms were appeared early May season and environmental friendly control agents are applied as prompt as possible, the control value of copper and oligo chitosan based agents are 54% and 90% respectively as compared to the occasion of chemical agent Antracol WP (propineb 70%) and yield of bulbs are increased by 16% and 34% against untreated control and marketable garlic bulb yield were 79% and 95% against Antracol WP treatment, respectively. From this result, oligo chitosan based compound can be a good organic control agent candidate for garlic leaf blight disease in organic garlic cultivation.

The e-Business Agent Prototyping System with Component Based Development Architecture (CBD 아키텍처 기반 e-비즈니스 에이전트 프로토타이핑 시스템)

  • Shin, Ho-Jun;Kim, Haeng-Kon
    • The KIPS Transactions:PartD
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    • v.11D no.1
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    • pp.133-142
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    • 2004
  • The next generation of web applications will need to be larger, more complex, and flexible Agent-oriented systems have great potential for these e-commerce applications. Agents can dynamically discover and compose e-services and mediate interactions. Development of software agents with CBD (Component Based Development) has proved to be successful in increasing speed to market of development Projects, lowering the development cost and providing better qualify. In this thesis, we propose a systemic development process for software agents using component and UML (Unified Modeling Language). We suggest a etA (e-business Agent) CBD reference architecture for layer the related components through identification and classification of general agent and e-business agent. We also propose the ebA-CBD process that is a guideline to consider the best features of existing agent oriented software engineering methodologies, while grounding agent-oriented concepts in the same underlying semantic framework used by UML. We first developed the agent components specification and modeled it with Goal, Role, Interaction, and Architecture Model. Based on this, we developed e-CPIMAS (e-Commerce Product Information Mailing Agent System) as a case study that provides the product information's mailing service according to proposed process formality. We finally describe how these concepts may assist in increasing the efficiency reusability, productivity and quality to develop the business application and e-business agent.

A Method to Design Components using Commonality and Variability Analysis (공통성 및 가변성 분석을 활용한 컴포넌트 설계 기법)

  • 장수호;김수동
    • Journal of KIISE:Software and Applications
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    • v.31 no.6
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    • pp.716-727
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    • 2004
  • Component-based software development (CBD) technology has been widely accepted as a new effective paradigm for building software systems with reusable components, consequently reducing efforts and shortening time-to-market. Hence, components should provide standard or common functionalities in a domain, yielding a higher level of reusability. Especially, micro-level variability within the commonality should also be modeled so that a product member-specific business logic or requirement can be supported through component tailoring or customization The importance of commonality and variability (C&V) analysis has been emphasized in several CBD methods, but they lack of well-defined systematic process, detailed instructions, and standard artifact templates. As the result, the development of components has been carried out in ad-hoc fashion, depending on developer's experience. In this paper, we propose a systematic process and work instructions to design components. The process consists of phases and their activities and each activity is specified with detailed instructions and artifact templates in order to facilitate effective development of components. To verify a feasibility of the propose method, a case study in a banking domain and comparison and assessment between the proposed method and other methods are additionally provided. With proposed processes and instructions, reusability and efficiency of developing components can be better supported.

Prediction of Water Level at Downstream Site by Using Water Level Data at Upstream Gaging Station (상류 수위관측소 자료를 활용한 하류 지점 수위 예측)

  • Hong, Won Pyo;Song, Chang Geun
    • Journal of the Korean Society of Safety
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    • v.35 no.2
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    • pp.28-33
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    • 2020
  • Recently, the overseas construction market has been actively promoted for about 10 years, and overseas dam construction has been continuously performed. For the economic and safe construction of the dam, it is important to prepare the main dam construction plan considering the design frequency of the diversion tunnel and the cofferdam. In this respect, the prediction of river level during the rainy season is significant. Since most of the overseas dam construction sites are located in areas with poor infrastructure, the most efficient and economic method to predict the water level in dam construction is to use the upstream water level. In this study, a linear regression model, which is one of the simplest statistical methods, was proposed and examined to predict the downstream level from the upstream level. The Pyeongchang River basin, which has the characteristics of the upper stream (mountain stream), was selected as the target site and the observed water level in Pyeongchang and Panwoon gaging station were used. A regression equation was developed using the water level data set from August 22th to 27th, 2017, and its applicability was tested using the water level data set from August 28th to September 1st, 2018. The dependent variable was selected as the "level difference between two stations," and the independent variable was selected as "the level of water level in Pyeongchang station two hours ago" and the "water level change rate in Pyeongchang station (m/hr)". In addition, the accuracy of the developed equation was checked by using the regression statistics of Root Mean Square Error (RMSE), Adjusted Coefficient of Determination (ACD), and Nach Sutcliffe efficiency Coefficient (NSEC). As a result, the statistical value of the linear regression model was very high, so the downstream water level prediction using the upstream water level was examined in a highly reliable way. In addition, the results of the application of the water level change rate (m/hr) to the regression equation show that although the increase of the statistical value is not large, it is effective to reduce the water level error in the rapid level rise section. Accordingly, this is a significant advantage in estimating the evacuation water level during main dam construction to secure safety in construction site.

Heavy Metal Contents and Food Safety Assessment of Processed Seaweeds and Cultured Lavers (국내 가공 해조류와 미가공 김의 중금속 함량 및 식품 안전성평가)

  • Yang, Won Ho;Lee, Hyo Jin;Lee, Sang Yong;Kim, Seong Gil;Kim, Gi Beum
    • Journal of the Korean Society for Marine Environment & Energy
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    • v.19 no.3
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    • pp.203-210
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    • 2016
  • In this study, nine heavy metals were analyzed in seaweeds collected from market and laver culture farm of Korea and a food safety assessment were also carried out for these heavy metals. The level of heavy metal concentrations in seaweeds was in the following order: Fe>As>Zn>Cu>Cd>Pb>Cr>Ni>Hg. Except for zinc and cadmium, seven heavy metals were significantly higher in cultured laver than in processed laver. Significant correlation was observed Cr-Fe in cultured laver and Cu-Zn, Cd-Cu, Cd-Zn and Pb-Ni in processed laver and Cu-Cr, Cu-Zn, Cd-Cr and Ni-Fe in sea tangle and Zn-Fe, Cr-Fe, Cr-Zn, Cd-Ni, Cu-Cd and Cu-Pb in processed sea mustard. Considering differences in heavy metal concentration between processed laver and cultured laver and in correlation among heavy metals, removal efficiency of heavy metals may be attributed to seaweed treatment process. The average weekly intakes of Cu, Cd, Zn, Fe and Hg via seaweeds consumption were about 0.1~7.6% of PTWI (Provisional Tolerable Weekly Intakes). Therefore, it was found that heavy metals in the seaweeds were very safe for consumption.

Study of the effectiveness of a supporting model for the domestic online game industry to go abroad (국내 온라인 게임 기업의 해외진출지원 모델의 효율성 연구)

  • Joo, KiHwan;Moon, Nammee
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.9
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    • pp.5769-5775
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    • 2014
  • This paper reports the political supporting platform, and the outcome evaluation model, which was developed for the Korean on-line game companies that have started to go abroad to publish their games. When they begin to sell their games, they have many difficulties in promoting in other countries including the USA & EU. They try to find solutions to solve these problems, but on-line games still do not have a successful business model because of their unique attributes and environmental features, even though they spent a lot of money and time to enter the international on line game market. Thus far, the local on-line game supporting policy has tried to improve the world competitiveness of local companies by doing diverse activities, such as Global Service Platform(GSP) service, international game competition, and globalization, marketing. On the other hand, there has been only a small number of fruitful results except for GSP. Therefore, in this paper, the result of GSP was verified using the Global on-line game Supporting Chain Model(GoGSCM), which is the new political supporting and evaluation model through survey targeting GSP participations. As a result, GSP was evaluated based on the compatibility, efficiency, effectiveness, and continuity.

Measuring the Maximum Social Welfare Effects of Outlook Information Service for Fruits Sector in Korea (과일류 관측의 최대 사회후생 효과 계측)

  • Kim, Bae-Sung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.11
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    • pp.6646-6651
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    • 2014
  • This study was carried out to find the social welfare effects of agricultural outlook information service for fruit in Korea. The goals of an agricultural outlook information service are to improve the efficiency of the agricultural product market, and stabilize the farmer's income and consumer price. This paper introduces the results of econometric analysis for the effects of social welfare benefits. According to the results of econometric analysis for the citrus industry, the effects of the social welfare benefits were estimated to be 15,228 million KRW on apples (ratio of the total revenue, 1.5%), 3,154 million KRW on pears (ratio of the total revenue, 1.8%), 1,936 million KRW on peaches (ratio of the total revenue, 0.9%), 5,211 million KRW on grapes (ratio of the total revenue, 1.0%), 44,976 million KRW on citrus (ratio of the total revenue, 5.4%), and 2,590 million KRW on sweet persimmon (ratio of the total revenue, 0.8%) in 2012.