• International conference on construction engineering and project management
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• 2011.02a
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• pp.399-406
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• 2011

Various construction bonds and warranties critically burden the general contractor. Also, sporadic or cumulative delays of progress payment by the owner can further trap the contractor in a financial quagmire. Facing the possibility of cash flow deficiency and callous response from the banks, most construction firms may become financially incapable of market competition, and attractive project tenders become a bidding game among few deep-pocket players. The downside of such market environment is that the depth of pocket, rather than that of professional competency dictates the choice of market winners. In Taiwan, this has been a potential crisis to the construction industry after the financial crisis which started out since 2008. To encounter this problem, this research will examine the means to better manage the construction industry. Essentially, a credit guarantee system (CGS) is the prime solution to strengthen a bank's confidence in any particular construction firm. Thus establishing a national platform which evaluates and rewards a construction firm's overall credibility is pivotal, and this third-party rated credit can help a bank to render a loan more wisely. Finally, this paper will propose the ideal operating schemes of construction-specific CGS in Taiwan and a credit scoring prototype model for construction industry, as reference for the government and banks, respectively.

• Journal of the Korean Society of Safety
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• v.17 no.4
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• pp.80-86
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• 2002

To reduce the nation from facing increasing industrial disasters following the grave foreign exchange crisis in 1997, this thesis compared inside with outside of the current country safety manager system, presented way about introduction to comprehensive safety management measures.

• Journal of Arbitration Studies
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• v.26 no.1
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• pp.89-105
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• 2016

2008 began with the American financial crisis which gave way to the liquidity crisis (Fannie Mae and Freddie Mac) situation in which 'the withdrawal of investment initiated from the insufficiency of the U.S. subprime mortgage loan companies', 'the large size loss situation of the financial company (Bear Stearns) due to the American structured bond insufficiency' and the second half opening part national debt mortgage company. Within the American financial crisis was propagated the crisis of international derivatives. Due to this, the withdrawal of foreign investment progressed in the interior of a country with the considerable. By the end of 2007, the exchange rate fluctuation was absorbed in the domestic financial circle on the belief the potentiality of the domestic financial market had been growing drastically through the expansion of the foreign currency debt according to this and it came to the defence but while the exchange rate jumped up to the dollar shortage according to the international crisis, the small and medium companies making the banks and exchange rate-related derivatives contract were going bankrupt due to the derivatives loss. The small and medium factories establish the bank exchange rate-related derivatives has nose (KIKO), pivot (PIVOT), and snowball (Snowball) etc. at that time and the damage which it is the KIKO grasped at 6 end of the months in 2008 caused by reaches to 1 thousand billion 4 thousand hundred million dollars. Small and medium companies in which the dollar which it has to denounce among small and medium companies bearing the KIKO contract in fact with the Knock-In generation city bank exceeds the amount of sales were known to be 68 enterprises among 480 enterprises. This paper departs in this awareness of a problem and tries to look into the risk factor of the derivatives, including nose and study the essential ring risk management plan of small and medium manufacturer.

• Management & Information Systems Review
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• v.37 no.4
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• pp.63-74
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• 2018

Recently, in the asset management industry, the smart beta strategy, which has an intermediate nature between passive and active strategies, is attracting attention. In this smart beta strategy, value, momentum, low volatility, and quality index are widely used. In this study, we analyzed the quality index which is not clear and complicated to calculate. According to the MSCI methodology, the quality index was calculated using three variables: return on equity, debt to equity, and earnings variability. In addition, we use the index using only return on equity variable, the index using only two variables of return on equity and debt to equity, and the KOSPI index as comparison targets for the quality index. In order to evaluate the performance of the indices used in the analysis, the arithmetic mean return, the coefficient of variation, and the geometric mean return were used. In addition, Fama and French (1993) model, which is widely used in related studies, was used as a pricing model to test whether abnormal returns in each index are occurring. The results of the empirical analysis are as follows. First, in all period analysis, quality index was the best in terms of holding period returns. Second, the quality index performed best in the currency crisis and the global financial crisis. Third, abnormal returns were not found in all indices before the global financial crisis. Fourth, in the period after the global financial crisis, the quality index has the highest abnormal return.

• Journal of the Korean Geographical Society
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• v.47 no.6
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• pp.836-852
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• 2012

Based on a long-term ethnographic study, this paper examines how the propositions and practices for desertification management in Inner Mongolia, China have changed over time. Desertification as an ecological issue cannot simply be treated as a something "natural" or "social," while it is an outcome of the construction made by both human and non-human agents. My research has found that the propositions for desertification management have been involved in the process of defining desertification, particularly by selecting different actors related to the ecological process in this region. Ultimately, the crisis in the inner Mongolia has always been constructed by the ways in which the selected actors and their relationships are differently defined. My study also reveals that although the proposed preventive measures, including afforestation, area protection, and pasturing prohibition, have tried to reconcile the conflicts of interest among the different actors, they have always been faced with certain limitations and failed in dryland management. In this historical context of crisis construction, by introducing a new non-human agent, "the chicken," the project of grassland chicken farming has eventually appeared to be an innovative strategy that can overcome the earlier limitations and coordinate the interests of Mongolian pastoralists who have suffered from economic difficulty.

• International Journal of Computer Science & Network Security
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• v.22 no.1
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• pp.312-318
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• 2022

The article notes that one of the reasons for the crisis in education was the sharp discrepancy between the emerging new forms and content and the model of macro-management that has developed over the decades. The level of management of the educational system did not emerge as a specific activity characterized by its own mechanisms and processes, just as qualified carriers of this activity - professionals - managers - did not appear. At the same time, there is practically no theoretical and methodological model of the macrolevel of education management, that is, management of the educational system as an integral structure.

• Journal of Families and Better Life
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• v.27 no.5
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• pp.59-68
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• 2009

External social support for family can be an important resource for families to overcome economic pressure, and can be a way to understand the concept and process of family resilience in the context of Korean economic crisis. To explore the role of external social support that alleviates the negative effects of economic pressure on marital satisfaction, the buffering effects were tested in two ways. First, the interaction effect between external social support and economic pressure on marital satisfaction was tested using hierarchical linear regression model. Second, the scores of marital satisfaction were plotted by the median scores of economic pressure and external social support. Results from the analyses of 191 couples (382 husbands and wives) indicated that external social support help families by buffering the negative effects of economic pressure on marital satisfaction by interacting with economic pressure.

• Journal of Digital Convergence
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• v.21 no.1
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• pp.15-18
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• 2023

The purpose of this study is to suggest ways to overcome the crisis of regional industrial complexes by examining the changes that the digital transformation era will bring and the crisis situation of regional industrial complexes. To this end, first, we examine the changes brought about by the digital transformation era from various angles in the fields of industrial sites, industrial complexes, policy areas, and changes in working methods, and identify the problems and crises of local industrial complexes from various aspects. According to the problems and crises of these existing local industrial complexes, plans and various policy tasks were presented for local industrial complexes to overcome the crisis using digital technology. As a result of this study, important policy directions and alternatives for overcoming the crisis of local industrial complexes in stagnation are presented at the government level, and plans for strengthening self-sustainability to overcome the crisis at the corporate level and digital transformation for future local industrial complexes It was possible to look at the direction and tasks of the project from various aspects.

• Management & Information Systems Review
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• v.26
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• pp.293-309
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• 2008

This study examined the market efficiency of korea stock market by comparing variance ratios(VR) of stock groups which is sorted by market capitalization. We compute variance ratios of KOSPI large capitalization, midium capitalization, and small capitalization for 546 trading days from 2006/01/02 to 2008/04/15. For our study, we also use high frequency data that is; intra-day 1 minute data. The characteristics of variance ratios of stock groups by market capitalization as follows: From 1 to 5 minute interval, variance ratios of three stock group increase far from zero(0). The longer time interval, the more variance ratios decrease, but only large capitalization converge on around zero. This means that the market of large capitalization is more efficient compare to other stock groups. The entire sample period can be divided two sub-period because the impact of sub prime crisis arised from U.S.A. influences Korea stock market. Before sub prime crisis, the VRs of mid cap and small cap do not converge on around zero except large cap although the time interval is longer. After sub prime crisis, the VRs of three stock groups decrease when time interval is longer, but only large cap converge on around zero. We conclude that large cap is more efficient than other stock groups in Korea Stock Market.

• Convergence Security Journal
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• v.23 no.1
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• pp.147-159
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• 2023

Recently, Chat GPT artificial intelligence (AI) is of keen interest to all governments, companies, and military sectors around the world. In the existing era of literacy AI, it has entered an era in which communication with humans is possible with generative AI that creates words, writings, and pictures. Due to the complexity of the current laws and ordinances issued during the recent national crisis in Korea and the ambiguity of the timing of application of laws and ordinances, the golden time of situational measures was often missed. For these reasons, it was not able to respond properly to every major disaster and military conflict with North Korea. Therefore, the purpose of this study was to revise the National Crisis Management Basic Act, which can act as a national tower in the event of a national crisis, and to promote artificial intelligence governance by linking artificial intelligence technology with the civil, government, military, and police.