• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.22-32
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• 2013

Generally, asset management procedure consists of exact information collection, decision of service level, analysis of aspiration level, analysis of financial condition and available budget, preparation of asset management plan, and value of modified asset. In this study, for the risk-based asset management, condition assessment and performance measuring, assessment of failure modes and risks, evaluation/selection of treatment options, and implementation of optimum solution are additionally included. For this, bridge inventory and performance measure considering risks are classified and method of quantitative/qualitative performance measure is suggested. Also, evaluation method of risk analysis for bridge asset management is suggested and basic research is carried out for applicable method of risk-based asset management. Using suggested risk procedure and method of risk-based bridge service level evaluation, it is possible to perform resonable asset management. Moreover, it is concluded that the proposed applicable method of risk-based asset management will provide a solution to contribute the development of systematical asset management for optimal decision making and prototype asset management system.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.47 no.2
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• pp.93-106
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• 2024

As the complexity and uncertainty of international construction projects increase, the importance of risk management capabilities in the construction industry has become more pronounced. Accordingly, Enterprise Risk Management (ERM) has become a widely adopted approach among organizations as a new way for more effective risk management. Despite its growing application, research related to ERM is still in its infancy, and most of the existing studies have been limited to financial industries. Therefore, this study aims to empirically examine the influence of ERM's core elements on project risk management (PRM) and project performance within construction firms. Our findings indicate that the key ERM components-organization, policy, and culture-significantly enhance PRM processes, underscoring their critical role and importance. Additionally, effective PRM positively affects project outcomes, highlighting its significance for construction companies engaged in international projects. While ERM does not directly impact project performance, it indirectly improves outcomes through enhanced PRM capabilities. It suggests that ERM will contribute to the firm's performance by improving the firm's PRM capability through policies and a risk-focused culture corresponding to the adopted ERM organization and system..

• Journal of Digital Convergence
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• v.10 no.3
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• pp.13-21
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• 2012

The main purpose of this study is to find out how perceived risk elements influence to customer's perceived value and repurchase intention in the electronic commerce environment. To achieve the goal, we set 6 sub-dimension - privacy risk, social risk, time lose risk, economic risk, psychological risk, and performance risk - based on comprehensive consideration of related studies, and established a research model included 2 factors such as perceived value and repurchase intention to measure performance in internet shopping malls. From 174 customers of the electronic commerce shopping malls survey data have been collected and analyzed based on the covariance structural model method. Firstly, four perceived risk characteristics of privacy risk, economic risk, psychological risk, and performance risk are significant effect on perceived value. Secondly, perceived value is very significantly related to repurchase intention in electronic commerce shopping malls. Consequently, we discussed the strategies to create perceived value and repurchase intention in electronic commerce environment. Also, we suggested the implications and further research directions.

• Journal of Preventive Medicine and Public Health
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• v.38 no.2
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• pp.132-140
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• 2005

Objectives: To propose a risk-adjustment model from insurance claims data, and analyze the changes in cesarean section rates of healthcare organizations after adjusting for risk distribution. Methods: The study sample included delivery claims data from January to September, 2003. A risk-adjustment model was built using the 1st quarter data, and the 2nd and 3rd quarter data were used for a validation test. Patients' risk factors were adjusted using a logistic regression analysis. The c-statistic and Hosmer-Lemeshow test were used to evaluate the performance of the risk-adjustment model. Crude, predicted and risk-adjusted rates were calculated, and compared to analyze the effects of the adjustment. Results: Nine risk factors (malpresentation, eclampsia, malignancy, multiple pregnancies, problems in the placenta, previous Cesarean section, older mothers, bleeding and diabetes) were included in the final risk-adjustment model, and were found to have statistically significant effects on the mode of delivery. The c-statistic (0.78) and Hosmer-Lemeshow test ($x^2$=0.60, p=0.439) indicated a good model performance. After applying the 2nd and 3rd quarter data to the model, there were no differences in the c-statistic and Hosmer-Lemeshow $x^2$. Also, risk factor adjustment led to changes in the ranking of hospital Cesarean section rates, especially in tertiary and general hospitals. Conclusion: This study showed a model performance, using medical record abstracted data, was comparable to the results of previous studies. Insurance claims data can be used for identifying areas where risk factors should be adjusted. The changes in the ranking of hospital Cesarean section rates implied that crude rates can mislead people and therefore, the risk should be adjusted before the rates are released to the public. The proposed risk-adjustment model can be applied for the fair comparisons of the rates between hospitals.

• The Research Journal of the Costume Culture
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• v.26 no.3
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• pp.450-470
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• 2018

This study examined the risk components and risk types perceived in the context of purchasing decisions of paper fashion products. This study also identified the levels of perceived risk by consumers and the differences between age groups in risk perception. First, qualitative data were collected through a focus group interview with 7 Korean females in their 20s to 50s. The interviewees were presented with two types of paper materials (undyed and dyed Jumchi-Hanji) and products (bags and wallets) made with the papers. The interviewees mentioned 11 risk components which were classified into five types of risks: performance (easily torn/lack of durableness, lint/pilling/wear-out, lack of water-resistant, no washability, and deformation and discoloration over time), social-psychological (old and traditional image), aesthetic (lack of design diversity, unsatisfactory appearance due to repair), financial (expensive price, lack of usability in daily life) and time/convenience (difficulty in handling) risks. Based on the results of the interview, a measurement for evaluating the risk perception of paper fashion products was developed. Second, quantitative data were collected from 64 Korean women in their 20s to 50s using the measurement. Respondents who were presented with the paper materials and the products perceived the performance risk more strongly than the social-psychological risk and aesthetic risk. In addition, differences between age groups were found: younger respondents perceived performance risk and social-psychological risk more strongly than older respondents, but older respondents perceived financial risk more than younger respondents. Based on this study, strategies for the risk reduction of paper fashion products were proposed.

• The Korean Journal of Franchise Management
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• v.13 no.4
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• pp.39-48
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• 2022

Purpose: COVID-19 has negatively influenced the financial performance of restaurant firms. Previous literature suggests that the franchising strategy effectively helps restaurant firms recover from difficult business conditions through various methods for expanding business size and enhancing business efficiency. According to risk-sharing theory, restaurant franchisors may minimize operational risks by sharing the risks with their franchisees. For instance, restaurant franchisors could generate more stable cash flow using franchise fees from their franchisees. However, research on the effect of franchise's risk reduction factor on business performance during pandemic is scarce. Thus, this study aims to examine the positive moderating effect of franchising between COVID-19 and restaurants' financial performance. Research design, data, and methodology: Panel data including financial information and franchising status of restaurant firms were collected for analysis. In order to control for unobserved firm-specific factors, generalized least squared estimation in fixed effects model was conducted. Huber-White robust standard errors were used to deal with heteroscedasticity issues. Results: It was found that COVID-19 pandemic has a negative effect on the restaurants' financial performance such as ROA (return on assets), ROE (return on equity), and PM (profit margins), which confirms the findings from existing literature. More importantly, results show that the degree of franchising has a positive moderating effect on the relationship between COVID-19 and financial performance of restaurant firms. This suggests that more active engagement in franchising may decrease negative impacts of COVID-19 on the restaurants' financial performance. Conclusions: The study supports existing literature related to risk-sharing theory, by confirming that pandemics, such as COVID-19, negatively affect financial performance of the restaurants. Furthermore, it was found that franchising strategy can help lessen negative impacts of pandemics on the firm performance. These findings can contribute to the franchise and restaurant management literature by suggesting the role of franchising in reducing business risks, thereby positively affecting financial performance. Moreover, this study offers business managers of franchisors and franchisees insights for utilizing franchising in restaurant risk management. Policymakers may also gain information on aiding restaurant firms during global crisis, such as COVID-19.

• Asia Marketing Journal
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• v.16 no.1
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• pp.149-168
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• 2014

This study investigates the effect of perceived risk on attitude toward mobile Social Network Services (SNSs). First, we understand that perceived risk of SNSs is a multidimensional concept, and we study the relationship between attitude and perceived risk such as social risk, performance risk, and privacy risk in SNS environments. Subsequently, the relationships between these multidimensional concepts of perceived risk and attitude are investigated. The result indicates that social, performance, and privacy risk have negative effects on attitude. In addition, the moderated effect of individual characteristic variables such as hedonic value and self-construal are confirmed as mitigating factors that alleviate the negative impact of perceived risk. The Findings show that customers who perceive SNSs to be risky are more likely to have a negative attitude toward SNSs. However, the negative impact of perceived risk on their attitude toward SNSs is alleviated in customers with high hedonic value. Similarly, the negative impact of perceived risk on their attitude toward SNS is weaker with customers in interdependent self-construal. This paper presents effective segmentation variables, such as consumer's motivation (hedonic value) and psychological variable (self-construal), which mitigate the risk perception of customers. Therefore, it provides practical guidelines for the marketing managers in terms of who to target and what kind of strategies to implement in terms of these segmentation variables to approach consumers more efficiently.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.16 no.4
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• pp.431-439
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• 2018

Less mature nuclear reactor technologies are characterized by a greater uncertainty due to insufficient detailed design information, operational data, cost information, etc., but the expected performance characteristics of less mature options are usually more attractive in comparison with more mature ones. The greater uncertainty is, the higher economic risks associated with the project realization will be. Within a comparative evaluation of less and more mature nuclear reactor technologies, it is necessary to apply economic risk measures to balance judgments regarding the economic performance of less and more mature options. Assessments of any risk metrics involve calculating different characteristics of probability distributions of associated economic performance indicators and applying the Monte-Carlo method. This paper considers the applicability of statistical risk measures for different economic performance indicators within a trial case study on a comparative evaluation of less and more mature unspecified LWRs. The presented case study demonstrates the main trends associated with the incorporation of economic risk metrics into a comparative evaluation of less and more mature nuclear reactor technologies.

• 제어로봇시스템학회:학술대회논문집
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• 1995.10a
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• pp.444-447
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• 1995

The satellite in a circular orbit about a planet with disturbances and a three-degree-of-freedom (3DOF) structure under seismic excitations are modeled by the linear stochastic differential equations. Then the risk-sensitive optimal control method is applied to those equations. The mean and the variance of the cost function varies with respect to the risk-sensitivity parameter, .gamma.$_{RS}$ . For a particular risk-sensitivity parameter value, risk-sensitive control reduces to LQG control. Furthermore, the derivation of the mean square value of the state and control action are given for a finite-horizon full-state-feedback risk-sensitive control system. The risk-sensitive controller outperforms a classical LQG controller in the mean square sense of the state and the control action.

• Culinary science and hospitality research
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• v.21 no.5
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• pp.38-49
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• 2015

The purpose of this study was to investigate tangible clues influence on perceived risk and overall satisfaction of customers at family restaurant in South Korea. In this research overall CFA and SEM were employed to analyze the data. Tangible clues were divided to 3 factors and perceived risk to 6 factors. Tangible clue 1 'physical evidence', had negative(-) influence on financial risk(p<0.01), performance risk(p<0.01) and psychological risk(p<0.001). Tangible clue 2 'employee' affected negatively(-) time risk(p<0.001), performance risk(p<0.001), psychological risk(p<0.01) and social risk(p<0.001). And tangible clue 3 'service process' influenced negatively(-) physical risk(p<0.01), time risk(p<0.05), financial risk (p<0.001) and performance risk(p<0.01). And among customer's perceived risks, 3 factors(time risk~p<0.001, performance risk~p<0.001, social risk~p<0.001) influenced negatively(-) their overall satisfaction. Through these results, it appears that customers perceive various tangible clues and risks at family restaurants. And they are likely to satisfy or dissatisfy according to their perceived risks. As a result, food service companies need to research various customers' perceived risks as important marketing strategy, and reduce them for increase and induction of customers' satisfaction.