• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.21-51
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• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.107-117
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• 2020

The research objective of the paper is to clarify the factors influencing system risks of listed companies in Vietnam, with a focus on clarifying the relationship and quantifying the impacts of ownership structure on systemic risk of listed companies. The data used in this study included financial statements and stock price data of listed companies on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange of Vietnam stock market in the period from 2010 to 2017. The paper used the method of estimation in establising the regression models to choose among three models: Random Effect Model, Fixed Effect Model or Pooled OLS for regression using Stata statistical software. The research results showed that state ownership and ownership by foreign investors were positively related to systemic risk, while ownership by domestic investors had a reverse relationship with systemic risk of listed companies in Vietnam. In addition, as a control variable, both company size and profitability had an effect on the systemic risk of listed companies in the research sample. Based on the research results, the authors interpreted some of the implications in order to minimize systemic risks in the operation of listed companies in Vietnam.

• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.4
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• pp.35-48
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• 2015

We analyze the systemic risk based on the information flows using the variance decomposition, DebtRank methods, and the Industry Sector Indices during 2001. 01 to 2015. 08. Using the KOSPI stock market as our setting, we find that (i) the systemic risk calculated by information flows of variance decompositions method shows strong positive relations with the market volatility, (ii) the magnitude of systemic risk measured from the information flows network by DebtRank method increases after the subprime financial crisis.

• The Journal of the Korean dental association
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• v.51 no.12
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• pp.637-642
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• 2013

Because the implant is regarded as a common treatment. It is clinically important that systemic and local risk factor of threatening peri implant mucosa should be considered during the process. The most risk factors are detected in clinical diagnosis, but it might be difficult and not clear to recognize systemic or combined factors. This article reviews risk factors of peri-implantitis. Local factors are biomechanics, periodontal soft tissue characteristics, infected site and oral hygiene. Systemic factors are alcohol, smoking and genetic traits.

• Nuclear Engineering and Technology
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• v.51 no.6
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• pp.1540-1553
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• 2019

A nuclear power plant (NPP) is a highly complex system-of-systems as manifested through its internal systems interdependence. The negative impact of such interdependence was demonstrated through the 2011 Fukushima Daiichi nuclear disaster. As such, there is a critical need for new strategies to overcome the limitations of current risk assessment techniques (e.g. the use of static event and fault tree schemes), particularly through simulation of the nonlinear dynamic feedback mechanisms between the different NPP systems/components. As the first and key step towards developing an integrated NPP dynamic probabilistic risk assessment platform that can account for such feedback mechanisms, the current study adopts a system dynamics simulation approach to model the thermal dynamic processes in: the reactor core; the secondary coolant system; and the pressurized water reactor. The reactor core and secondary coolant system parameters used to develop system dynamics models are based on those of the Palo Verde Nuclear Generating Station. These three system dynamics models are subsequently validated, using results from published work, under different system perturbations including the change in reactivity, the steam valve coefficient, the primary coolant flow, and others. Moving forward, the developed system dynamics models can be integrated with other interacting processes within a NPP to form the basis of a dynamic system-level (systemic) risk assessment tool.

• Restorative Dentistry and Endodontics
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• v.38 no.4
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• pp.187-193
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• 2013

Epinephrine is one of the most widely-used vasoconstrictors in dental treatment including endodontic microsurgery. However, the systemic safety of epinephrine has been in debate for many years because of its potential risk to cause cardiovascular complications. The purpose of this review was to assess the cardiovascular effect of epinephrine use in endodontic microsurgery. Endodontic microsurgery directly applies epinephrine into the bone cavity, and the amount is reported to be much larger than other dental surgeries. Moreover, when considering that systemic potency of intraosseous application is reported to be comparable to intravenous application, the systemic influence of epinephrine could be increased in endodontic microsurgery. Besides, pre-existing cardiovascular complications or drug interactions can enhance its systemic influence, resulting in increased susceptibility to cardiovascular complications. Although clinical studies have not reported significant complications for patients without severe systemic complications, many epinephrine-induced emergency cases are warning the cardiovascular risk related with pre-existing systemic disease or drug interactions. Epinephrine is a dose-sensitive drug, and its hypersensitivity reaction can be fatal to patients when it is related to cardiovascular complications. Therefore, clinicians should recognize the risk, and the usage of pre-operative patient evaluation, dose control and patient monitoring are required to ensure patient's safety during endodontic microsurgery.

• Kosin Medical Journal
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• v.33 no.3
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• pp.289-296
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• 2018

Objectives: In these days, patients with stage I breast cancer have increased by regular health examination and diagnostic tool development. The aim of this retrospective study is to identify systemic recurrence related factors after breast conserving surgery (BCS) for stage I breast cancer. Methods: In this study, we analyzed the correlation between systemic recurrence and pathologic factors. We reviewed 223 patients who underwent BCS for stage I breast cancer. Postoperative pathologic factors, recurrent rates and sites were studied. In addition, preoperative patients'data were also collected. Statistical analysis was done by using PASW 16.0 (SPSS Inc., Chicago, IL, USA). Results: Systemic recurrence was found in 16 patients (7.17%) within 5 years after primary surgery. 5 patients had lymphatic invasion and 6 patients had vascular invasion. Lymphatic and vascular invasion had statistical correlation with systemic recurrence (P = 0.004, P = 0.001). Conclusions: In this retrospective study, we can conclude that vascular invasion and lymphatic invasion are related systemic recurrence after BCS for stage I patients. Further studies with large cohort will be required to fully understand the risk factors of systemic recurrence for stage I breast cancer patients.

• Journal of dental hygiene science
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• v.17 no.1
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• pp.56-64
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• 2017

Systemic health conditions increase with advancing age, and may be linked to poor self-reported oral health. The purpose of this study was to evaluate the association between systemic health conditions and poor self-reported oral health among Korean elderly. The study used a nationally representative sample of Koreans (2012 Korea National Health and Nutrition Examination Survey) aged 65~98 years (n=1,595). Systemic health conditions in this population were assessed by the presence of one or more of the following conditions: obesity, hypertension, diabetes, and hypercholesterolemia. The relative risk of poor self-reported oral health according to the occurrence of systemic health conditions was estimated by multivariate logistic regression after controlling for several potential confounders (i.e., socio-demographic factors, oral health behaviors, health behaviors, and psychological factors). After adjustment for these confounders, the relative risk of having poor self-reported oral health was greater among the elderly with one or more systemic health conditions than in those without a systemic health condition. The odds ratio of having poor self-reported oral health according to the occurrence of systemic health conditions was 1.51 (95% confidence interval, 1.08~2.12). Among the Korean elderly, perception of poor oral health was associated with the presence of one or more systemic health conditions. Future studies are needed to examine the detailed causal relation between systemic health conditions and poor oral health longitudinally.

• Journal of Korean Academy of Nursing
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• v.34 no.6
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• pp.1129-1142
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• 2004

Purpose: This research was conducted to evaluate the effects of asystemic follow-up care program on health promotion and risk reduction in 64 high-risk infants(HRI) including premature infants and their mothers. Method: The intervention consisted of systemic NICU education, tele-counseling and 3 home visits in 6 months. The subjects were divided into either the intervention group or the control group receiving the conventional NICU education without the tele-counseling and home visiting. Infant health promotion was measured using physical assessment, types of health problems, reflexes, OPD visiting history, DDST, immunization, feeding assessment, Infant death rate, etc. Maternal self-esteem, postpartum depression and family function were measured using the maternal self-report inventory(MRI), EPDS, and family apgar score(Fapgar), retrospectively. Result: All premature infants in the intervention group were in the normal range of growth and development, and the regular vaccination schedule. The health problems in the intervention group were addressed early so not to develop into adverse effects. The follow-up program for 6 months showed beneficial effects on MRI, EPDS, and Fapgar. Conclusion: A systemic follow-up health care program is beneficial on health promotion and risk reduction in 64 HRI including premature infants and their mothers.

• Tuberculosis and Respiratory Diseases
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• v.80 no.2
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• pp.113-135
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• 2017

Asthma is traditionally regarded as a chronic airway disease, and recent literature proves its heterogeneity, based on distinctive clusters or phenotypes of asthma. In defining such asthma clusters, the nature of comorbidity among patients with asthma is poorly understood, by assuming no causal relationship between asthma and other comorbid conditions, including both communicable and noncommunicable diseases. However, emerging evidence suggests that the status of asthma significantly affects the increased susceptibility of the patient to both communicable and noncommunicable diseases. Specifically, the impact of asthma on susceptibility to noncommunicable diseases such as chronic systemic inflammatory diseases (e.g., rheumatoid arthritis), may provide an important insight into asthma as a disease with systemic inflammatory features, a conceptual understanding between asthma and asthma-related comorbidity, and the potential implications on the therapeutic and preventive interventions for patients with asthma. This review discusses the currently under-recognized clinical and immunological phenotypes of asthma; specifically, a higher risk of developing a systemic inflammatory disease such as rheumatoid arthritis and their implications, on the conceptual understanding and management of asthma. Our discussion is divided into three parts: literature summary on the relationship between asthma and the risk of rheumatoid arthritis; potential mechanisms underlying the association; and implications on asthma management and research.