• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.9-20
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• 2018

Global rating agencies, such as Moody's and S&P, have assigned credit ratings to corporate bonds issued by Japanese firms since 1980s. Local Japanese rating agencies, such as R&I and JCR, have more market share than the global raters. We examine the yield spreads of 1,050 yen-denominated corporate bonds issued by financial firms in Japan from 1998 to 2014 and find no evidence that bonds rated by at least one global agency are associated with a significant reduction in the cost of debt as compared to those rated by only local rating agencies. Unlike non-financial firms, the reputation effect of global rating agencies does not exist for Japanese financial firms. We also observe that firms with less information asymmetry are more likely to acquire ratings from Moody's or S&P. Additionally, the firm's financial profile does not affect its choice to seek out ratings from global raters. Our findings are contradictory to those by Han, Pagano, and Shin (2012), who employ bonds issued by non-financial firms in Japan. Our conjecture is that the asymmetric nature of financial firms makes investors less likely to depend on a credit risk assessment by rating agencies in determining the yields of new bonds.

• Journal of Digital Convergence
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• v.12 no.12
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• pp.537-544
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• 2014

The film has far-reaching power than any other media. For this reason, a censorship has existed in some way but censorship is like a double-edged sword. If KMRB stood in front of a desire to preserve the morals of society and youth protection, creativity of artists must be shaken. On the contrary if free will is emphasized, social chaos will be increase. Thus most countries made various censorship systems in order to overcome this contradiction. In recent years, mainly on the issue of censorship and the rating is a tendency to transfer to the voluntary deliberation agency. However, this issue is still dealing with this problem at KMRB in Korea. Then KMRB mistakes itself as the guardian of situation ethics and morality. Recently various problems appeared in the film rating system. KMRB should be devolved on the voluntary deliberation agency in order to solve the problem. therefore this study The study will be to review the need for voluntary veliberation agency.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.2
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• pp.25-32
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• 2019

In the Korean capital market, there are three credit rating agencies. Potential credit ratings based on credibility in the financial market are calculated independently for each rating agency. It often happens that despite the fact that the grades of the rating agencies are the same and have the same rating system, their actual ratings are different, even for the same firm. In such circumstances, investors may wonder why. In this study, we assume that the cause is the information environment in which the company operates. The credit ratings of rating agencies are mainly classified into bonds or commercial papers. The bonds are rated primarily for long-term of three years or more, and commercial papers specify ratings for less than one year. The information environment to be verified in this study was observed with a commercial paper. Under the assumption the larger the analyst following is, the more transparent is the information environment, we analyzed the influence of the number of analysts following on the degree to which ratings conflicted among credit rating agencies. The results of our analysis confirmed that opinion conflict among credit rating agencies is clearly reduced for companies with good information environments.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.1-12
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• 2022

Our study adds to the body of knowledge about the relationship between credit ratings and the capital structure of bond issuers. Using Bloomberg and Datastream databases and employing panel regression models, we study the capital structure changes of Japanese enterprises after credit rating changes by global rating agencies (S&P and Moody's) as well as their local counterparts (R&I and JCR) from 1998 to 2016. We find that after rating downgrades, Japanese enterprises considerably reduce net debt or net debt relative to net equity, similar to the findings of Kisgen (2009), who focused on U.S. industrial firms. They do not, however, make adjustments to their financial structure as a result of rating improvements. In comparison to downgrades by S&P and Moody's, Japanese corporations issue 1.89 percent less net debt and 1.50 percent less net debt relative to net equity after R&I and JCR rating downgrades. To put it another way, Japanese companies consider rating adjustments made by local agencies to be more significant than those made by global rating organizations. Our findings contradict earlier research that suggests S&P and Moody's are more prominent in the investment community than R&I and JCR in Japan.

• Journal of Auto-vehicle Safety Association
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• v.6 no.1
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• pp.16-21
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• 2014

Recently Korea and many countries are legislated for pedestrian protection as following the GTR(Global Technical Regulation). Most NCAP organization have been applying pedestrian protection results in their own rating system in individual or overall rating. Euro NCAP agency has been introduced it first. From the beginning, Euro NCAP had assessed occupant and pedestrian protection. It has become to strengthen a pedestrian protection protocol every time published. Korea NCAP also has been rating pedestrian protection with overall rating system. This paper proposed to study new pedestrian protection protocol especially upper leg in order to find injury response based on physical test. On Euro NCAP, the upper leg injury are assessed two kind of value which are bending moment and force.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.2
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• pp.158-167
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• 2017

This paper presents the technology rating methodology that is applicable to defense R&D technology. First, a technology profitability index was developed using multiple regression analysis to forecast the revenue from technology transfer. Secondly, the technology evaluation index was derived using hierarchical analysis with expert opinion. Finally, the weighted average of the technology profitability index and technology evaluation index were calculated to derive the technology rating. This study is significant in that it is first attempt to evaluate defense R&D technology by rating. If the defense R&D technology rating methodology is applied in practice, it can contribute to efficient R&D budget allocation. In addition, it will help in the vitalization of technology transfer in the defense R&D sector.

• Electronics and Telecommunications Trends
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• v.34 no.1
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• pp.132-141
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• 2019

In this article, I summarize the various academic documents and regulatory agency reports on the Zero-Rating, and describes the type classification, major cases, and policy trends of major countries. In the case of Korea, the lack of academic research and the policy making work are relatively late compared to the advanced countries, so I hope that this paper will be helpful for the development of domestic academic research and policy direction in the future.

• Journal of the Korea Safety Management & Science
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• v.11 no.3
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• pp.1-9
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• 2009

The present management of the domestic and international advanced enterprises is transferring the systems and the regulations to the prevention system management. Expecially, KOSHA (Korea Occupational Safety & Health Agency) in Korea has supported to set up the OSHMS (Occupational Safety & Health Management System) by KOSHA 18001 since 1997. But small & medium enterprises (SMS) has many difficulties to set up the OSHMS system because of limited natural and human resources. In this study, the rating system as a judgment method of an OSHMS based on the certification standard of the OSHMS, which was suggested in previous study, was developed for SMS to adopt voluntarily the OSHMS, certify KOSHA 18001, and improve the safety and health level.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.18 no.4
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• pp.303-309
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• 2008

The reduction of risk within the workplace has long been focus of attention both through industry initiatives and legislation. Exposure matrices according to industries and processes treated DMF (N,N-Dimethylformamide) were constructed based on KOSHA (Korean Occupational Safety and Health Agency)'s 2005 exposure database which were gathered from Korean agencies of workplace hazards evaluation for business place. These exposure matrices were assessed by danger value (DV) that was calculated from combination of hazard rating, duration of use rating, and risk probability rating of exposure to chemical hazardous agents in accordance with Hallmark Risk Assessment Tool. The results of risk assessment is divided four kinds of control bands which were related with control measures. The applicability of risk assessment using exposure matrices was performed by field study and survey for high matrices group. This study found that more attentions should be paid to two industries, manufacture of sewn wearing apparel and manufacture of textiles, among 19 industries, and to 3 processes, coating, processing & mixing, and lab, among 80 processes because those were regarded as having the highest risk.

• Journal of Digital Convergence
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• v.13 no.2
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• pp.105-113
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• 2015

If the watchdog role of good corporate governance, corporate executives and reduce agency costs and information asymmetries. Corporate governance score higher because enterprise internal control systems and financial reporting system is well equipped with the company management is enabled and corporate performance is higher because the high financial credit rating. Under these assumptions and hypotheses set up this study corporate governance (CGI) has been studied demonstrated how the financial impact on the credit rating (CFR). Findings,

relevant corporate governance (CGI) and financial credit rating was found to significantly affect the positive (+), Regression coefficient code is expected code of positive (+), the value

indicated by the value of all positive. The results of corporate governance (CGI) has showed excellent results, such as the more predictable will increase the credit score financial rating. The results of this study will have more CGI-credit financial rating the greater good. This study might be expected to provide a useful guide that corporate social responsibility, the company with a good governance and oversight systems enable to to get a higher credit rating in practice and research.