• Journal of Information Technology Applications and Management
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• v.22 no.3
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• pp.65-81
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• 2015

This study reports a preliminary finding of the types and numbers of graphs being presented in the annual reports of about thirty top listed companies trading publicly in the stock markets of three countries-Thailand (SET), Malaysia (BM), and Singapore (SGX)-that were chosen based on their inclusion in the ASEAN Stars Index under the ASEAN Trading Link project. A total of 6,753 graphs from nineteen sectors were extracted and examined. Banking, real estate, and telecommunications are ranked the three most condense sectors, accounting for 50.2% of the total number of graphs observed. The three most used graphs are the Conservative Bar, Donut graph and Stack Bar. Less than one percent of Infographic type graphs were used. The five most depicted graphed variables are Asset, Revenue, Net profit, Liability, and Dividend. Using rudimentary framework to detect distorted or misleading statistical graphs, the study found 60.6% of the graphs distorted across the three markets, SET, BM, and SGX. BM ranked first in percentages of graphs being distortedly presented (73%). The other two markets, SET and SGX, have about the same proportions, 53.88% and 53.03%, respectively. Likewise, the proportions of Well-designed versus Inappropriate-designed graphs of the latter two markets are a little over one time (SET = 1 : 1.17; SGX = 1 : 1.13), whereas the proportion is almost triple for the BM market (BM = 1 : 2.70). In addition, the trend of distorted graphs found is slightly increasing as the longevity of the ASEAN Stars Index increases. One possible explanation for the relatively equal proportion of inappropriate graphs found is that SET is the smallest market and SGX, though the largest, is the most regulated market. BM, on the other hand, may want to present their financial data in the most attractive manner to prospective investors, thus, regulatory constraints and governance structure are still lenient.

• The Korean Journal of Financial Management
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• v.8 no.1
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• pp.155-177
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• 1991

기업의 재무구조와 인플레이션과의 관계는 세율에 대한 다양한 형태의 가정을 통하여 연구, 분석되어 왔으나, 이 문제를 확실히 해결하지는 못하였다. 근자에 A. Marcus(1983)가 미국의 은행의 재무구조를 대상으로 한 시계열분석 결과에 의하면 명목이자율의 상승이 미국은행의 부채 대비 자본금 비율을 하락시키는 절대적 요인이 되었다고 한다. 본 연구의 목적은 인플레이션과 은행의 부채 대비 자본금 비율의 상관관계, 더욱 나아가서 은행자산의 위험도가 이 상관관계에 미치는 영향을 분석코자 한다. 본고는 은행규제기관(FDIC 등)의 부채비율과 은행자산(포트폴리오)의 위험도에 대한 규제하에서 은행이 부채(예금)와 자본금의 가치를 극대화하고자 하는 모델을 설정하여 기대 인플레이션 수준이 은행의 적정 자본비율과 자산의 위험도와 어떤 관계가 있는가를 밀러의 균형모델(Miller Equilibrium Model)을 원용하여 분석하였다. 밀러의 균형모델하에서는 기업의 재무구조는 기업가치와 무관한 것으로 나타나고 있다. 즉, 부채를 통한 자금조달에 의해 발생되는 한계세금혜택은 균형하에서는 사라진다는 이론이다. 따라서 인플레이션은 적정 재무구조에는 영향을 미치지 못하게 된다. 왜냐하면 인플레이션은 기업의 세후 부채조달비용과 회사채 투자자 수익에 동일한 영향을 미치기 때문이다. 그러나 은행의 경우 일반 기업과는 달리 은행규제기관의 부채비율 및 자산위험도에 대한 규제압력이 소위 암묵적 규제비용으로 작용하여 은행의 적정자본금비율은 부채(예금)를 통한 자금조달의 한계세금혜택과 이에 따른 한계규제바용이 동일하게 되는 경우에 결정된다. 밀러의 단순균형 모델하에서 한계세금혜택이 없는 것과는 달리 은행의 부채조달에 따른 한계규제비용이 존재하는 이유로 균형조건으로 한계세금이익이 존재하게 된다. 이 경우 인플레이션은 예금자의 실질 세후 예금이자를 상승시키는 것 이상으로 은행의 실질 세후 예금이자 지급비용을 하락시키게 되어 은행의 부채비율을 더욱 높이게 되는 원인이 된다. 또한 은행의 부채비율이 인플레이션과 정(正)의 관계에 있다면 은행규제의 강도에 따라 이 상관계수는 은행자산의 위험도와도 역시 정(正)의 관계에 있게 된다. 미국은행을 대상으로 한 회귀분석에서도 그들의 부채(예금)비율이 기대 인플레이션과 정(正)의 상관관계가 있음이 나타났고 그 상관계수는 은행자산의 위험도와 동일 방향으로 움직임이 판명되었다.

• KDI Journal of Economic Policy
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• v.14 no.3
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• pp.49-72
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• 1992

This paper examines the increasingly popular belief that higher holding tax will be the ultimate solution for Korea's land problems which include excessive concentration of ownership, high and rapidly increasing land prices, and rampant speculation. In principle, land holding tax can supplement capital gains tax in recapturing capital gains from land or suppress returns from land investment returns in line with other forms of asset. This paper shows, however, that the tax burden must be drastically increased for the tax to achieve such goals, and the resistance from tax payers is sure to be intense. As long as the price expectation remains high, as in Korea where land prices have increased 19% annually during the past 18 years, even such increase in the tax may have little impact on landlords' behaviors, the price trend, or the ownership structure. More effective solutions for Korea's land problems are relaxing land use regulations to encourage the supply for urban land and improving the performance of capital gains tax to recapture windfall gains from land. This paper also notes that the so-called "lock-in effect" of the capital gains tax seems to be exaggerated. Land holding tax should be viewed as a revenue raiser for local governments rather than an anti-speculative policy tool. Abandoning unattainable policy goals and adhering to the general principles of taxation, will make land holding tax much simpler, and will better function as a local revenue source.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.2
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• pp.157-175
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• 2011

This paper aims to analyze the characteristics of healthcare REITs' performance and operation, and to examine their use for activating the silver industries in Korea. The results of this study are as follows. First, according to the results of analyzing healthcare REITs' performance, healthcare REITs outperformed average REITs and extended investment proportion compared to total REITs after 2007. This outperforming came from not only rapid growth of silver industries, but also REITs strategy using the structure of sale-and-leaseback and triple-net lease. Second, healthcare REITs use selection and concentration strategy in terms of asset sector, but use portfolio diversification strategy in terms of investment region. Third, according to the analysis results, healthcare REITs are to be useful for activating the silver industries in Korea. In this context, major implications are presented to use healthcare REITs effectively.

• Journal of Information Technology and Architecture
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• v.11 no.4
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• pp.441-448
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• 2014

The application of spatial information has drawn significant attention from a wide range of industries. Railway spatial information facilitates the cooperation among related parties and improves the efficiency of asset management and operations. This study proposes the structure of Railway Object IDentifier(ROID) on railway spatial information. Current facility management and train operation are based on relative positioning system. Despite many advantages, relative positioning system causes serious problems such as the entire reconfiguration of positioning in the case of line change. Another major concern is the interface compatibility between individual facilities with different relative positioning. ROID based on absolute positioning addresses these issues, allowing the information exchange and convergence between independent parties. This study proposes ROID based on OID standard with object IDentifier and service object-oriented reference system. Our ROID employs the absolute positioning and the unique identifier, maintaining the compatibility with existing management system.

• The KIPS Transactions:PartD
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• v.15D no.3
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• pp.361-374
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• 2008

In the latest intelligent computing environments, the self-adaptive software, as new software paradigm, which modifies its own behavior in response to changes in its operating environment is needed. To develop the self-adaptive software, it is necessary to analyze and design the context of software as well as the structure and the behavior of software. We need more efforts for self-adaptive software development than for traditional software development because we need more activities and technologies like context modeling and adaptation to develop the self-adaptive software. In this paper, we present the product line architecture for self-adaptive software and templates of artifacts to improve the efficiency of development through a reuse methodology. The artifacts of the architecture support the systematic reuse activities of core assets by expressing the commonality and variability of product line.

• Journal of Advanced Navigation Technology
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• v.13 no.2
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• pp.280-286
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• 2009

A policy of instant messaging usage is offered in this article. First, a brief introduction of instant messaging system structure is described. The main threats and vulnerabilities of Instant messenger (IM) are described in the second part of the paper. Instant messaging applications offer so many advantages in so many different fields that they're fast becoming the preferred communication tool for a number of different professional scenarios. When properly implemented, instant messaging can be a true asset to the business by making communications easier throughout the organization. If instant messaging is carelessly implemented, though, it can cause problems with privacy and may expose the organization to various forms of malware. The solution offered in this paper is one of the effective ways against threats of IM. However, the system cannot be secured entirely. All we can do is reducing the risks.

• Journal of the Korean Institute of Rural Architecture
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• v.20 no.3
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• pp.11-18
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• 2018

Suhwa Kim Hwan-gi established his own unique world of art based on Korean-style lyricism with his sophisticated and sublimated formative language as the first generation of Korean abstract artist. He made his name known not only in Korea but New York and Paris, the center of contemporary art. Presently, there is almost no material left for us to examine how Kim Hwan-gi's house looked in the first place. But there is a painting that chef Kim Am-gi possesses where we can find the image of painter Kim Hwan-gi's house drawn by recalling the memories at home in a far-off land. With that, we can see it should be the original looks of that house. To examine the original looks of Kim Hwan-gi's house when it was built, this author studied the closure land registration map. By analyzing 29 land registration maps around Eupdong-ri of Gijwa-myeon in Muan-gun of Jeollanam-do produced in 1917 which National Archives of Korea possesses, this researcher could figure out the status of land registration around Kim Hwan-gi's house with No. 15 and 22 drawing boards. According to the results of considering aerial photographs after the emancipation that National Geographic Information Institute possesses, this author has found that the arrangement of Kim Hwan-gi's house was changed from 1954 up to 2008. In 1954 aerophotos, we can see the main building and studio in Kim Hwan-gi's house and there was an additional structure between them. Kim Hwan-gi's house was built before 1925. The main building presently designated as a cultural asset and also the sarangchae arranged in the east and the studio, too, were built in the similar period.

• The Journal of Society for e-Business Studies
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• v.12 no.3
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• pp.33-47
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• 2007

The requirements have been changed during development progresses, since it is impossible to define all of software requirements. These requirements change leads to mistakes because the developers cannot completely understand the software's structure and behavior, or they cannot discover all parts affected by a change. Requirement changes have to be managed and assessed to ensure that they are feasible, make economic sense and contribute to the business needs of the customer organization. We propose a feature-oriented requirements change management method to manage requirements change with value analysis and feature-oriented traceability links including intermediate catalysis using features. Our approach offers two contributions to the study of requirements change: (1) We define requirements change tree to make user requirements change request generalize by feature level. (2) We provide overall process such as change request normalization, change impact analysis, solution dealing with change request, change request implementation, change request evaluation. In addition, we especially present the results of a case study which is carried out in asset management portal system in details.

• Smart Media Journal
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• v.9 no.3
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• pp.71-79
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• 2020

Mobile network is used by many users worldwide for diverse services, including phone-call, messaging and data transfer over the Internet. However, this network may experience massive damage if it is exposed to cyber-attacks or denial-of-service attacks via wireless communication interference. Because the mobile network is also used as an emergency network in cases of disaster, evaluation or verification for security and safety is necessary as an important nation-wide asset. However, it is not easy to analyze the mobile core network because it's built and serviced by private service providers, exclusively operated, and there is even no separate network for testing. Thus, in this paper, a virtual mobile network is built using OpenAirInterface, which is implemented based on 3GPP standards and provided as an open source software, and the structure and protocols of the core network are analyzed. In particular, the S1AP protocol messages captured on S1-MME, the interface between the base station eNodeB and the mobility manager MME, are analyzed to identify potential security threats by evaluating the effect of the messages sent from the user terminal UE to the mobile core network.