• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.611-620
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• 2016

Firms grow in a competitive environment and competition can be a source of corporate growth. In an increasingly global market, companies face increased competition. As such, it is natural that all firms face some degree of risk due to competition. While firms compete for market share, they also imitate competitors in order to minimize risk that accompanies competition. This research attempts to demonstrate the effects of inter-firm competition on investment decisions. Using idiosyncratic equity returns as the instrument variable, this paper uses a two-stage least squares regression, as well as an ordinary least squares (OLS), to identify the influence of peer firms' investment decisions on a firm's own investment strategy. The results confirm that firms show stronger imitative behavior with more intense competition. Also, firms with higher debt ratios show higher peer group influence. This imitative factor provides clues to measure the risk-averseness in investment decisions.

• Spatial Information Research
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• v.9 no.1
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• pp.91-105
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• 2001

This study aimed to develop an effective decision support system for the locational decision of urban parks through integrating decision analysis techniques with spatial analysis functions of GIS, and by doing so, to improve the efficiency and quality of the decision-making process. The system provides an efficient management process by integrating analysis, alternative generation and evaluation procedures into a coherent system environment. Evaluation criteria used in the system includes Equity, Efficiency, Service population, Land cost, Park ratio buildings, and Connectivity of greenery. The system also improves the efficiency and rationality of the decision-making process by incorporating various decision analysis techniques such as MAUT, AHP, and ELECTRE into a decision-making process. The analysis and decision support methods used in the system can be utilized for the locational decisions of other urban public facilities, and the system can also be expanded to a comprehensive park management system by incorporating general management functions for urban parks.

• Journal of Korean Society of Forest Science
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• v.101 no.4
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• pp.606-612
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• 2012

We developed four qualitative criteria for evaluating Indonesia's REDD+ strategy by analysing REDD+ related decisions from the Cancun agreements adopted by the 16th Conference of the Parties under the United Nations Framework Convention on Climate Change (UNFCCC), and the important elements developed by Norway's International Climate and Forest Initiative to evaluate Indonesia's REDD+ strategy: (1) Criterion 1 is assessing how accurately the developed strategy identifies substantial underlying and direct causes of deforestation and forest degradation; (2) Criterion 2 is whether the strategy establishes a scientifically reliable national-level MRV (Measurement, Reporting and Verification) system; (3) Criterion 3 is whether the strategy achieves real greenhouse gas emissions reductions; and (4) Criterion 4 is whether the strategy includes safeguards to ensure equity and co-benefits from REDD+ related projects for relevant stakeholders, in particular local communities and indigenous peoples. Criteria 1 and 2 can be the fundamental bases of real GHG emissions reduction (Criteria 3). Criteria 3 is recognised as the ultimate objective of REDD+. Criterion 4 is for both bases of the effective GHG emission reduction and complementary objective of REDD+. These criteria and indicators developed can provide basic framework to understand their REDD+ national strategies of the other developing countries as well as Indonesia.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.587-613
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• 1999

Environmental problems such as global climate change, depletion, ocean and air pollution, and resource degradation-compounded by an expanding world population-respect no border and threaten the health, prosperity and jobs of all mankind. Our efforts to promote democracy, free trade, and stability in the world will fall short unless people have a livable environment. We have an enormous stake in the management of the world's resources. By increasing demand for timber, natural gas, coal and consumer's goods have destroyed the grounds for living. Greenhouse gas emissions anywhere in the world have threatened coastal communities, and then changed the Earth's climate system. The burning of coal, oil, and other fossil fuels is increasing substantially the concentration of heat-trapping gasses such as carbon dioxide, methane, and nitrous oxide in our air. The earth's temperature and sea levels are rising as a result. Since 1972 there has been a marked growth in the number and scope of environmental treaties. In particular, after the 1992 Rio Conference, international legal instruments became more concentrated on addressing environment within the context of sustainable development and incorporated a number of new concepts and innovative approaches. A preliminary analysis of recent conventions and in particular those associated with the Rio Conference indicates various ideas, concepts and principles which have come to the fore including sustainable development, equity, common concern of humankind, common but differentiated responsibilities and global partnership. However, international trade also has an environmental impact which must be minimized or countered. Positive measures are to be preferred to achieve environmental goals, but where trade provisions are necessary, they should be appropriately used within environmental conventions to facilitate the reduction and limitation of the negative impacts of trade and to enhance the complementarity of the multilateral trade regime with the imperatives of environmental protection, in the interests of environmental protection and sustainable development generally. The international community has to recognize and endorse this need to achieve complementarity between trade and environment issues.

• Journal of Distribution Science
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• v.17 no.9
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• pp.117-125
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• 2019

Purpose - We investigate how to increase consumer incentives to buy public offering funds, resulting in activating the public offering fund market. In particular, this study aims to find ways to expand diversity and to improve efficiency of public offering fund. The public fund market of Korea has been stagnant in recent years. However, the public offering fund market plays a very significant role in terms of consumer welfare. Since only a few wealthy investors can participate in the private equity market, the stagnation in the public offering fund market usually reduces the opportunity of consumer's buying funds thus ultimately affecting their future wealth. Research design, data, and methodology - To attain our purpose, the 'factor-based portfolio strategy' has been considered. It is an alternative portfolio strategy, which composites the advantages of the passive management and active management. For our empirical anaylsis, we used global stock distribution market data over the period of 1991 and 2016. Then we constructed portfolios based on firm-size, firm-value, and momentum. Finally, a regression model was set, then hypotheses were tested, analyzing the performances. Results - First, among the 15 factor-based portfolios of global, Europe, Asia-Pacific(ex Japan), US and Japan, in eight portfolios, positive excess returns are observed at 5% significance level. Further, there is another portfolio with positive excess return at 10% significance level. Second, most of the portfolios with significant excess performance show positive relationship with the market portfolio. However, the firm-value based portfolio in Asia-Pacific region shows no relationship, and the firm-value based portfolio in US shows negative relationship. Third, we confirmed that the two firm-value factor portfolios in Asia-Pacific region and US, not having positive relationship with market portfolio, provide significant excess returns. Conclusions - In this paper, we provide empirical evidences supporting that the factor-based portfolios expand the diversity of funds and improve the efficiency of investment performance. However, there is no guarantee that the efficiency will continue in the future. In addition, various constraints and costs must be considered. Nevertheless, our novel findings in the advanced financial market such as US and Asia-Pacific are very interesting and offers important implications.

• International Journal of Highway Engineering
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• v.14 no.3
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• pp.111-120
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• 2012

Because people are gradually interested in bicycles, central and local governments provide many efforts for expanding bikeway plans and utilization. However, most domestic bicycle plans have been established for the urban and leisure. This research is focused on developing the evaluation method to give the priority order for the investment of rural community bicycle roads. For the methodology development, the planning hierarchy and indicator framework are proposed in this paper. In order to decide the weighting value for indicators, a questionnaire survey to transportation experts was conducted. Moreover, the coefficient for social and spatial equity was applied to consider the balance of regional development. The evaluation was applied to a pilot corridor comprised of a 160km section of national highway in korea. This methodology provides a new tool to decide priority order for the investment of bicycle facilities.

• Journal of the Korean association of regional geographers
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• v.2 no.2
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• pp.37-47
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• 1996

It is well agreed that transportation is not the end by itself, rather it is a means to achieve other goals to enhance the quality of life. Accordingly, various social impacts of transportation systems, such as destruction of community social life of urban residents, separation of community area, and accessibility restriction on the transportation handicapped, which can deteriorate the quality of life of the residents should be considered seriously in the process of urban transportation planning. The urban transportation planning process of Korea which emphasizes too much on the of efficiency objectives of transportation, however, have neglected greatly the social sides of urban transportation systems. This paper discusses major social impacts of urban transportation systems in Korea and proposes several research fields related to the social impacts of urban transportation.

• School Mathematics
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• v.13 no.1
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• pp.37-63
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• 2011

This research had investigated the teaching practice in the mathematics classrooms with immigrant students to describe how effectively mathematics teachers create inclusive learning environment of mathematics. The analysis of the data from the elementary schools suggests that teaching practice in the class was consistent to the criteria for 'contextualization of students' lived experience' and 'mathematical conversation'. However, while the quantitative results suggested that the teachers showed high expectation to their students in their teaching, the qualitative analysis revealed the teacher's beliefs and attitudes against providing equitable educational opportunity for every student. In the middle school classrooms, it was found that the teaching practices were not compatible to the goals of multicultural mathematics education. The analysis of the survey data regarding teachers' multicultural competence suggests that the teachers possessed rather advan]ced understanding of multicultural mathematics education but they need materials and pedagogy for classroom teaching from multicultural perspectives.

• Health Policy and Management
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• v.21 no.1
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• pp.115-131
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• 2011

Several common issues are encountered by countries - Germany, Japan, and the United States - that adopted long-term care (LTC) system. First, the demand for LTC and its associated costs have steeply risen following the implementation of the LTC policy. Second, ensuring the quality of services have been difficult. Third, the coordination of services among providers and between LTC and medical care has been inadequate. Learning from their experience, we suggest ways to improve the LTC system in Korea. The basic approach aims for efficiency over equity in the system. This would require promoting provider competition and consumer choice. We propose several policy options according to the major stakeholders. For consumers, cash benefits at fixed rates and personal savings accounts are feasible options to self-contain the demand and cost of services. On the insurer's side, creating an environment of multiple insurers will engender competition, leading to cost savings and quality care. For providers, delivery of quality services through competition, cost-containment through capitated reimbursements, and coordination of services through integrated delivery system can be achieved. From the assessors' perspective, establishing an information system to monitor the activities of insurers and providers would be important, empowering consumers with information to choose cost-effective service providers. In summary, the suggested approach would provide cost-effective LTC services by guaranteeing consumer choice and promoting major stakeholder accountability. Further studies are needed to test the feasibility of this model in ensuring quality LTC in Korea.

• Korean Journal of Health Education and Promotion
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• v.23 no.1
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• pp.143-171
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• 2006

There has been 10 years since the Health Promotion Act was legislated. The government began to establish a health promotion fund on the basis of Health Promotion Act in 1995, and to manage and operate the fund from 1998. It is evaluated that health promotion program have had various outcomes in many aspects. First, there has been growing awareness of the impotance of health promotion through the establishment of Health Plan 2010 and the effort to actualize the Plan. Second, the importance of securing health equity and identifying health determinants have been recognized during the planning process of Health Plan 2010. Third, the health promotion program have mainly focused on improving healthy life style of the population. As a result, desirable health behavior change of the population could be expected from the result of 2005 National Health and Nutrition Survey. Fourth, public health centers began to play a crucial role in implementing health promotion programs, and began to build infrastructure for health promotion programs. Fifth, management efficiency of private health related organizations have been improved. Finally, training for health promotion personnel and their participation in the program could be the foundation for the higher level of outcome achievement from the health promotion programs. Important challenges for future health promotion would be identification of the determinants and risk factors of health, formulating plan of regional health promotion programs, building infrastructure for health promotion, creation of specific action model by public health center, development of health promotion program for the elderly, conducting research for evidence concerning major factors reducing the need for health care through prevention disease activities, and establishment of evaluation and feed back system for health promotion programs.