• Asia-Pacific Journal of Business
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• v.15 no.3
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• pp.189-204
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• 2024

Purpose - The purpose of this study was to examine the effects of corporate strategic deviance on firm value considering a firm's cost stickiness. Design/methodology/approach - This study used 40,823 firm-year observations from the Korean stock markets, KOSPI and KOSDAQ. Several multiple regression models were used in order to analyze the data Findings - First, unlike the previous results, corporate strategic deviation is positively associated with firm value. Second, the cost stickiness of a firm is positively related to firm value. Third, the interaction effect between strategic deviation and cost stickiness has negative relation with firm value. Fourth, An increase in standard deviation directly correlates with a decrease in firm value for firms with high levels of controlling shareholder ownership or that are part of chaebols. Research implications or Originality - Strategically deviant firms can experience an increase in firm value due to their future competitive advantage. Moreover, stickiness of costs generally has a positive impact on firm value. However, when firms with high levels of cost stickiness employ strategic deviant strategies, there is a risk of agency problems such as excessive overinvestment, which can negatively impact firm value.

• Journal of the Korean association of regional geographers
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• v.8 no.2
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• pp.247-255
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• 2002

In recent decades, the characteristics of natural hazard has been changed and the global cost of natural disasters has increased substantially. There are several trends in society and nature that suggest this pattern may continue, with more frequent mega-disasters occurring in the future. In particular, risk perception that is at odds with the "real" risk underlies the process of risk transference increases long-term vulnerability. Therefore investigating the correct risk transference and adjustments according to regional socio-economic structure can mitigate and reduce environmental, so called man-made hazard.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.27 no.3
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• pp.416-423
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• 2003

During the last ten years, the need has been increased for reducing maintenance cost for aged equipments and ensuring safety, efficiency and profitability of petrochemical and refinery plants. RBI (Risk Based Inspection) methodology is one of the most promising technologies satisfying the need in the field of integrity management. In this study, a user-friendly software, realRBl for RBI based on the API 581 code was developed. This software has modules for evaluating qualitative and semi-quantitative risk level, analyzing quantitative risks using the potential consequences of a failure of the pressure boundary, and assessing the likelihood of failure. A quantitative analysis was performed for 16 columns in a domestic NCC (Naphtha Cracking Center) plant whose operating time reaches about 12 years. Each column was considered as two equipment parts by dividing into top and bottom. Generic column failure frequencies were adjusted based on likelihood data. After determining release rate, release duration and release mass for each failure scenario, flammable/explosive and toxic consequences were assessed. Current risks for 32 equipment parts were evaluated and risk based prioritization were determined as a final result.

• Journal of the Korean Institute of Gas
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• v.15 no.4
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• pp.1-6
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• 2011

Risk-based inspection (RBI) is a inspection technique suggesting inspection plan, such as inspection interval and inspection method, of the pressurized facilities based on its risk in the petrochemical, refinery and gas industries. Therefore, we can intensively and cost-effectively maintain, repair and manage the high-risk facilities through RBI technology. This paper reviews RBI technology, such as principle and implemental procedure of RBI, management of risks and facilities and return of investment through RBI, RBI technology at present and its application in domestic industries. In addition, some improvement directions of RBI are also proposed.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.9 no.5
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• pp.1920-1937
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• 2015

Network environment has been under constant threat from both malicious attackers and inherent vulnerabilities of network infrastructure. Existence of such threats calls for exhaustive vulnerability analyzing to guarantee a secure system. However, due to the diversity of security hazards, analysts have to select from massive alternative hardening strategies, which is laborious and time-consuming. In this paper, we develop an approach to seek for possible hardening strategies and prioritize them to help security analysts to handle the optimal ones. In particular, we apply a Risk Flow Attack Graph (RFAG) to represent network situation and attack scenarios, and analyze them to measure network risk. We also employ a multi-objective genetic algorithm to infer the priority of hardening strategies automatically. Finally, we present some numerical results to show the performance of prioritizing strategies by network risk and hardening cost and illustrate the application of optimal hardening strategy set in typical cases. Our novel approach provides a promising new direction for network and vulnerability analysis to take proper precautions to reduce network risk.

• Korean Journal of Health Education and Promotion
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• v.2 no.1
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• pp.97-114
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• 2000

Minority populations in the United States have a higher prevalence of non-insulin-dependent diabetes mellitus (NIDDM) and more persons die of the disease than white persons. This study was to review and compare risk factors and prevalence rates of NIDDM in African Americans, Hispanic s, Korean Americans and Native Americans in the United States. The risk factors of NIDDM, including family history of diabetes, obesity, physical inactivity, diet and age, were reviewed in the minority populations. Risk factors such as obesity, physical inactivity and family history of diabetes occurred to a greater extent in some minority populations than in the white population. Diabetes should be treated as a public health problem for minority populations. Due to the increase of older populations and the increased prevalence of obesity and sedentariness, NIDDM in minorities is nearing epidemic proportions. Good diet and regular exercise can reduce the incidence of NIDDM but an understanding of the cultural aspects of diabetes is imperative in order to provide adequate community health education programs because those programs involve diet and behavior changes, characteristics that are often culturally determined. In summary, it is important to plan a community health education program targeted on NIDDM in a culturally adapted manner that will be received with both comprehension and acceptability. In particular, the program for high-risk populations should be stressed so to prevent diabetes. Preventive approaches to diabetes should be considered because they can be both therapeutic and cost effective.

• Journal of the Korea Safety Management & Science
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• v.21 no.4
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• pp.7-15
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• 2019

This paper proposes the FMEA-based model to avoid backdoor transactions when purchasers select suppliers for products and services. In the model, backdoor transactions consist of two categories: backdoor selling and maverick buying. Both of which influence negative effects on cost savings due to not only uncompetitive advantage but also unusable purchasing leverage by unethical and misbehavior of purchase requestors. For the risk evaluation based on FMEA, three and five risk types of backdoor selling and maverick buying are identified respectively. Current risk priority numbers(RPN) based on those risk types are calculated by three categories: occurrence, detection and severity. Six risk mitigation strategies and fourteen mitigation tactics are identified to improve current RPN. In order to validate the model, questionnaires are collected from fifteen companies and statistically analyzed. The analysis result shows that the model reduces backdoor transaction risks and has no differences in reduction of backdoor transaction risks regardless of the type of purchasing organization units and existence of purchasing procedures in the organization.

• Journal of the Korean Society of Safety
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• v.22 no.6
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• pp.35-40
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• 2007

As a way of improving the safety of the chemical facilities, the risk based-inspection(RBI) was executed for the facilities of the applied petrochemical plant using KS-RBI Ver. 3.0 program developed based on the API-581 based resource document(BRD). From an evaluation result of KS-RBI program, we could find the evaluation of the process safety management(PSM) for the applied plant, risk of the applied process, risk of static facilities and pipes, and the demage mechanism of the facilities. Also, we could suggest a proper inspection plan(frequency and method of inspection) using the calculated risk and the status of the facilities. Therefore, the applied plant could be achieved a reduced inspection cost by an extension of inspection frequency, improved productivity, improved reliability of the facilities, and a computerized history management.

• Korea Trade Review
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• v.44 no.6
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• pp.87-103
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• 2019

L/C(Letter of Credit) is a common payment term designed to prevent credit risk in international trade. However, most companies prefer T/T (Telegraphic Transfer) payment due to its time and cost efficiency. According to related statistics, more than 70% of international trade contracts are based on T/T rather than other payment terms. The time required from the export negotiation to the completion of the export transaction and collection in international trade is very long. In this process, disputes related to settlement are continuous, so caution should be exercised. Therefore, whether or not the export payment is recovered in a timely manner is the core issue of trade transactions for exporters. The purpose of this study is to identify problems that cause delayed payments during settlement by the remittance (T/T) method, which can lead to settlement risk, in order to investigate those factors which can lead to delays in payments and increased risk as well as to determine ways to prevent such factors in advance. According to empirical findings, trading experience, transaction duration, and contract contents can be important determinants in terms of payment delays. Industry uniqueness and market uncertainty were found to be in opposition to the hypothesized relationships. The results of this study will be useful for trading companies to reduce their payment risk.

• Clinical Endoscopy
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• v.55 no.4
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• pp.489-495
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• 2022

An appropriate post-polypectomy surveillance program requires the effectiveness of reducing colorectal cancer and safety. In addition, the post-polypectomy surveillance program should consider the burden of limited medical resource capacity, cost-effectiveness, and patient adherence. In this sense, a risk-stratified surveillance program based on baseline colonoscopy results is ideal. Major international guidelines for post-polypectomy surveillance, such as those from the European Union and the United States, have recommended risk-stratified surveillance programs. Both guidelines have recently been updated to better differentiate between high- and low-risk individuals. In both updated guidelines, more individuals have been downgraded to lower-risk groups that require less frequent or no surveillance. Furthermore, increased attention has been paid to the surveillance of patients who undergo serrated polyp removal. Previous guidelines in Japan did not clearly outline the risk stratification in post-polypectomy surveillance. However, the new colonoscopy screening and surveillance guidelines presented by the Japan Gastroenterological Endoscopy Society include a risk-stratified post-polectomy surveillance program. Further discussion and analysis of unresolved issues in this field, such as the optimal follow-up after the first surveillance, the upper age limit for surveillance, and the ideal method for improving adherence to surveillance guidelines, are warranted.