• KDI Journal of Economic Policy
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• 제38권3호
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• pp.53-77
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• 2016

Financial soundness in the household sector matters for financial stability and for the real economy. The level of household debt in Korea raises concern about the financial soundness of the household sector due to its size, growth rate and quality. Against this backdrop, we assess the financial vulnerability of borrowers based on an analysis of credit bureau (CB) data, in which the actual credit activities of most individuals are recorded at a high frequency in Korea. We construct over-indebtedness indicators from the CB data and then assess the predictability of forthcoming defaults. Based on the over-indebtedness indicators, we show how borrowers are distributed in terms of over-indebtedness and how the over-indebted differ from average borrowers in terms of their characteristics. Furthermore, we show how the aggregate credit risk in the household sector would change under macroeconomic distress by analyzing how each borrower's credit quality would be affected by adverse shocks. The findings of this paper may contribute to assessing household debt vulnerability and to enhancing regulatory and supervisory practices for financial stability.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.403-411
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• 2021

This paper discusses the relationship between debt literacy, peer-to-peer lending, and over-indebtedness in Indonesia. It is essential because the number of loans on this platform continues to increase, both legal and illegal. Data was collected online in collaboration with commercial market research firms, JajakPendapat.net. Debt literacy and over-indebtedness were measured by self-assessment with questions from Lusardi and Tufano (2009a). Questions for debt literacy are about interest compounding, debt interest, and the application of time value of money in payment options. The question for over-indebtedness is about the amount of debt and the conditions resulting from that debt. By using descriptive methods, it is clear that the majority of respondents, both borrowers and non-peer-to-peer lending borrowers are debt illiterate, and those who have poor debt literacy have huge debt. Overall, only 1.85% of the respondents were debt literate. Those who live on the island of Java have better literacy because they are the center of economic growth in Indonesia. Debt from peer-to-peer (P2P) lending also has the potential to create problems, namely over-indebtedness. P2P lending borrowers also have very poor debt literacy. However, there is no difference in debt literacy between P2P lending borrowers and non-P2P lending borrowers.

• The Journal of Asian Finance, Economics and Business
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• 제8권12호
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• pp.39-50
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• 2021

We investigate competition and its impact on borrowers' indebtedness (BI) in South Asian microfinance. Our empirical investigations are based on a comprehensive panel dataset of 355 MFIs located in seven countries in South Asia. The empirical results revealed that microfinance in South Asia is imperfectly competitive and the existing industry shows a monopolistic competition during the period under consideration. Also, the competition increased after the global financial crisis (GFC) in 2007-08 which implies that microfinance uses hostile lending behavior through the adverse selection that is highly risky and it can induce repayment crisis. The empirical findings also show that increased competition has significant negative effects on borrowers' indebtedness, particularly in large-scale and regulated microfinance organizations (MFIs). Instead of using equity financing, debt financing could be a better option. Finally, we find that while competition seems to have some positive effects in economic discourse by channeling technological improvements in products and services, its negative effects in microfinance outweigh the benefits over costs, particularly in poverty-stricken nations. The findings are helpful for the policymakers, microfinance industry, investors, borrowers, and Central Bank of South Asian markets.

• 영어영문학
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• 제55권6호
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• pp.975-992
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• 2009

Whereas many Dickinson scholars tend to focus on Emily Dickinson's anthropocentric dimension, her work also reveals an ecocentric aspect. On the one hand, influenced by New England Puritan typology and its offshoot Emersonian Transcendentalist idealism, Dickinson reveals her indebtedness to these two worldviews by emphasizing the invisible over the visible and the spiritual over the physical. At times, she reflects the common thread of the two outlooks-a hierarchical thinking, in which nature is inferior to human beings and does not have its own identity outside of human use. On the other hand, seeing through the downside of the hierarchical Emersonian idealism, Dickinson sometimes suggests an alternative stance on nature in a nonhierarchical way. She often appreciates nature for its own sake, becoming its neighbor and companion. This aligns Dickinson with modern ecocritics and ecofeminists who criticize a hierarchical anthropocentrism and promote an egalitarian ecocentrism in which natural and human beings are fellow citizens of the earth community. And yet, unlike most ecocritics who advocate a complete shift to an egalitarian paradigm, Dickinson embraces both anthropocentrism and ecocentrism in her poetry of "open portfolio." This openness stems from her belief in interrelatedness between God, nature, and human beings. Housing the two opposing perspectives in her poetry, she widely opens the possibility to choose the better way to relate to our sister and brother, nature.

• 한국노년학
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• 제30권1호
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• pp.241-260
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• 2010

이 연구의 목적은 쪽방지역에 홀로 사는 남성 노인의 삶의 경험이 갖는 의미와 본질을 밝힘으로서 이들의 경험에 대한 좀 더 풍부한 이해를 하는 것이다. 연구 참여자는 Y 쪽방지역에 거주하는 65세 이상 독거 남성 8명이다. 의도표집방법과 눈덩이 표집 방법을 사용하였으며, 포커스 집단 면담과 개별심층면담을 통해 자료를 수집하였다. 자료의 분석은 Giorgi의 4단계에 의거하였다. 연구결과 4개의 구성요소와 16개의 하위구성요소가 도출되었다. 쪽방에 홀로 사는 남성 노인들의 삶의 4가지 구성요소는 <마음 둘 곳 없어 외로운 신세: 아들, 남편, 아비구실 못해 가족을 지우고 살아옴, 몸은 머물지만 정들지 않는 쪽방 살이, 하루짜리 술친구에 머무는 사귐, 외로움을 안고가기>,<인색한 지원에 근근이 살아감: 쪽방처럼 사방이 막힌 인생살이에 우울함, 수급자라 휘둘리고 무시 받아 속상함>,<편견과 차별에 주눅 드는 삶: 아쉬워도 손 벌리지 못함, 가족을 꾸리지 못해 후회되고 냉대 받음, 다가가지 못하는 바깥세상 >,<사람노릇하며 살다가기: 홀로의 삶을 건사하여 독립을 유지하려함, 빚 갚는 마음으로 도움주기, 하릴없이 보내는 나날이 고역이라 일을 하고 싶음, 쪽방 사람들과 다르게 살아가기, 어른도리 하기, 마음을 다스려 현재의 삶을 수용함, 폐가 되지 않을 죽음을 준비하기>로 나타났다. 이러한 결과를 바탕으로 쪽방지역에 홀로 사는 남성 노인들의 삶의 경험에 대한 의미를 논의하고 사회복지적 함의와 후속 연구를 위한 제언을 제시하였다.

• 마케팅과학연구
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• 제20권2호
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• pp.199-207
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• 2010

"对我们而言, 成为一名负责的公民和一份成功的事业之间没有区别.....他们对今天的沃尔玛是完全一样的." Lee Scott, 沃尔玛的CEO在2005年卡崔琳娜飓风灾难之后(Esty and Winston 2006) Lee Scott的声明标志着可持续发展的一个新的时代. 作为一个被全球生产商和零售商所关注的全世界最大规模的经销商确认了他们的可持续发展的意图. 近十年来, 环保运动不断增长, 并扩展到全世界. 公司已经诞生, 产品已被创造, 学术期刊 已经展开, 政府已经承诺—所有这一切都在追求可持续发展(Peattie and Crane 2005). 虽然进展的确比一些人渴望的慢了一些, 但是很多大规模的经销商已经为环保做出了可持续发展的努力. 为了更好的理解这个运动我们同时提供高管和消费者参与的有包装的消费品产业的角度. 该研究依赖于三个潜在主题: (1)概念和证据表明,公司为很多理由进行可持续发展 (2)在有包装的消费品行业中, 可持续发展活动的数量在持续增长 (3), 因此, 必须探索可持续发展在消费者意识中起的作用. 根据这些主题, 143名大学生和101名企业高管参加了调查来评估一系列的有关可持续发展的变量包括愿意支付, 行为意图, 态度和偏好. 结果显示高层管理者相信可持续发展的三个最主要的原因是(1)盈利能力的机会; (2)以实现对环境的义务; (3)对顾客和股东负责. 大学生的三大原因: (1)对环境的责任; (2)为子孙后代负责, 和(3):一种有效的管理资源. 虽然企业高管和大学生对支持可持续发展的理由不同, 但是企业高管和消费者的报告显示了对剩下大部分的可持续发展问题的相似性. 另外, 当我们要求消费者去评估6个关键问题的重要性时(医疗保健, 经济, 教育, 犯罪, 政府支出, 和环境), 保护环境仅排在第四位(Carlson 2005). 这6个问题都被认为是重要的, 三个最重要的是(1)改善教育;(2)本地区的经济发展,以及(3)卫生保健. 为了可持续发展的持续性, 我们也将预期结果. 反映社会, 企业利益表现的新定义和执行期的延长同样被揭示出来(Ehrenfeld 2005; Hitchcock and Willard 2006). 基于文献我们发现了三个基本范畴的结果:(1)改进组成的满意度, (2)分化的机会, 以及(3)金融奖励. 在每一种分类中, 我们发现从可持续发展活动中导致11种不同结果的几个特定的结果. 我们的调查结果表明,最有可能的结果最高的前五项依序为公司的可持续发展追求的是:(1)绿色的消费者将会更令人满意;(2)公司形象会更好, (3)公司的责任将得到加强, (4)会降低能源成本;(5)产品将会更多的创新. 另外, 为更好的理解消费者的环境 "身份" 和在市场购买中愿意显示出这个 "身份" 的有趣的交集, 我们扩展了以前Experian Research(2008) 的研究. 因此,受访者分为四个不同类型的绿色消费者(行为绿色,想法绿色, 潜在绿色, 或真正褐色)来获得更好的理解绿色消费者. 我们评估这些消费者愿意从事环保行为评估三种选择. (1)购物零售商支持环保措施;(2)支付更多来保护环境, 以及(3)支付更高的税收,政府可以支持环保措施. 想法绿色消费者表示最愿意改变, 紧随其后的是行为绿色消费者, 潜在绿色消费者和褐色消费者. 这些差异都是显著的(p<.01). 结论和启示我们采用描述性研究, 旨在促进我们理解战略领域的可持续性. 确切地说, 该研究以特定的偏好, 意图, 愿意支付, 行为和态度填补了进行比较与对比的持续性的商业管理者和消费者意见的文献的空白, 对从业人员, 能获得一个战略观点. 此外, 许多结果已经说明, 受访者愿意为产品付出更多来保护环境. 其他特定的结果表明, 女性受访者始终比男性强愿意交流, 为这些产品付更多的钱, 在环保的零售商. 了解这些额外的信息, 实践者现在有了更多的特定市场, 对目标和交流他们为可持续发展所做出的努力. 虽然这项研究仅仅是最初的一步了解实践者和消费者对于可持续发展的异同, 我们的结果对实践与研究都有帮助. 未来的研究应向测试其他变量的影响关系, 以及其他特殊行业.