• The Journal of Asian Finance, Economics and Business
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• v.5 no.2
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• pp.35-42
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• 2018

In recent decades, financial crises in various countries have often been preceded by the rise in non-performing loans (NPLs) in the banks' asset portfolios. The increase in NPLs is proven to have adverse impact on the banking sector so that understanding the determinant of NPLs is immensely crucial to ensure the efficiency and soundness of the overall economy. This study aims to shed light on bank-specific factors that affect loan default problems in developing countries whose banking sectors play a major role in the overall economy. This study analyzes panel data sets of 36 commercial banks listed in the Indonesian Stock Exchange during the period 2008-2015. Applying fixed-effects panel regression model reveals that Indonesian banks' profitability and credit growth negatively influence the number of NPLs. Moreover, banks with higher profitability are proven to have lower NPLs because they can afford adequate credit management practices. Likewise, banks with higher credit growth evidently have lower NPLs in the sense that they demonstrate more specialized lending activity and thus have better credit management systems. These findings imply that, in order to lower loan defaults that can deteriorate banks' asset quality, banks should maintain their level of profitability and increase, rather than decrease, their credit supply to debtors.

• Korean journal of communication and information
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• v.16
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• pp.7-35
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• 2001

This paper examined the present status of local newspapers and their problems. It was originated from the fact that the number of local newspapers have continuously increased since 1987 when the establishment of newspaper company became convenient, and that as a result the competition among local newspapers became high and several unexpected negative out comes brought forth. The analytical focus of this parer was placed on the internal and external environments surroundings local newspapers. The results showed followings: There are too many local newspapers competing each other in the same area; Financial crises mainly caused by over-competition are critical; Ownership and business operations are too distorted to take the socially expected role of newspapers; Many newspapers are often mobilized for the political and economic purposes of the owner; Market rules and advertising inducement practices are likely to be violated because of over-competition; the morales of Journalists are decreased and work qualities are deteriorated. On the basis of these findings this paper suggested several policy implications: The structure of ownership has to be changed into a direction where a few major stock-holders cannot influence the whole business operations; Top managers have to change their business motivation from profit-seeking to profit-sharing; business practices has to be open and clean; New editorial polices attracting readers have to be established; qualified Journalists have to be recruited and they have to be retrained throughout their career life.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.659-672
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• 2020

The outbreak of a recent strain of Coronavirus, known as 'COVID-19', has spread sharply from China across the globe, resulting in a dramatic recession in the global economy. This uncertainty has therefore negatively influenced the business perspective and the various formulated strategies that may not considered such [extreme] circumstances. Using baseline analysis and archival data, this paper reports some of the major implications of COVID-19 on global business and strategy and puts forward suggested research agenda as potential future directions for organizations. In order to survive and remain sustainable, this paper argues that businesses need to revisit their strategies during current COVID-19 crises from three perspectives, including supporting human resources financial commitment, forming cross-functional teams and connecting with their supply chains, as well as investing in corporate social responsibility and doubling down efforts with regard to partnerships. The study also represents a preliminary analysis to the implications of COVID-19 on the business and strategies across the globe and is considered the first such in the field of business, as to date all research papers on COVID-19 have been published in medical-related journals. Directions for future research are also proposed at the end of this study.

• Korean Journal of Hospice Care
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• v.6 no.2
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• pp.1-9
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• 2006

In this thesis, Chapter I Introduction suggested the necessity of this research and defined related terms, and Chapter II defined hospice for children and examined the symptoms of pediatric cancers as well as the general characteristics of pediatric cancer patients. In particular, we surveyed the physical condition, psychological and emotional condition, financial condition, environmental aspect, educational aspect and spiritual aspect of pediatric cancer patients’ families, investigated pediatric cancer patients’ parents and siblings with regard to their understanding of the pediatric cancer patients’ death, and lastly considered spiritual care. Chapter III presented summaries and conclusions. In their developmental stage, pediatric cancer patients lack abilities to express themselves and are highly dependent on their parents, so parents who take care of cancer children have to make hard decisions and cancer children’s families are heavily burdened by the situation of preparing their children’s death and sending them away while denying their death, and for this reason they need help from specialists. That is, for pediatric cancer patients, we need highly experienced pediatricians or nurses skilful in managing young terminal patients as well as hospice counseling and family counselors for consulting on family crises. In particular, there is a keen need of child life support specialists. In addition, clergymen’s help is critical for spiritual care to ease the fear and terror of the unknown world, fear of death, etc. Moreover, in order to prevent cancer children from failing to adjust themselves to school life or peer relation after recovery, hospice service should provide cancer children with opportunities to learn school curriculums and associate with friends.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.123-133
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• 2023

The COVID-19 pandemic has impacted the restaurant business adversely. The restaurant business is essential for Thailand's economy as it generates high income and a high employment rate. This study aimed to determine the relationships between restaurant businesses. Furthermore, it examined the problems encountered during COVID-19 and measures already implemented and planned. The research is intended to resolve these issues. We collected data from 136 people who worked in restaurants in Bangkok, Thailand, via telephone interviews. The data was analyzed by descriptive statistics and correspondence analysis using SPSS. The findings of this analysis indicate that all restaurants, irrespective of their size, face problems, though their planned and remedial actions are different. One finding was that medium restaurants face more financial problems and increased costs than others. They are countering this challenge through measures such as applying for loans and transitioning into a "non-restaurant" business. Nevertheless, typical medium restaurants have not engaged in extensive planning for the future. Based on a fact-finding survey, we considered appropriate short- and long-term measures suitable for micro, small and medium restaurants. In addition, our study's findings will help policymakers and practitioners identify strategies for responding to the COVID-19 outbreak and other future crises.

• East Asian Journal of Business Economics (EAJBE)
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• v.12 no.1
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• pp.23-33
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• 2024

Purpose: This paper explores the nuanced approaches undertaken by private companies in formulating and implementing business continuity plans (BCPs) in response to the unprecedented challenges posed by the global COVID-19 pandemic. Research design, data, and methodology: Utilizing a mixed-methods research design, the study delves into the multifaceted strategies employed by private sector entities, ranging from risk assessment and remote work policies to supply chain diversification and employee well-being initiatives. Result: The findings contribute to a deeper understanding of the evolving landscape of business continuity planning during a pandemic, offering valuable insights for academia, industry practitioners, and policymakers. The research findings present a detailed account of how private companies have tailored their business continuity plans in response to the unique challenges posed by the pandemic. Conclusion: This academic exploration sheds light on the dynamic landscape of business continuity planning in private companies responding to the global pandemic. Insights into the effectiveness of remote work policies, supply chain diversification, employee safety measures, and financial strategies contribute to the understanding of best practices and areas requiring further attention. These recommendations aim to inform future business continuity planning efforts, enhance organizational resilience, and mitigate the impact of global health crises on private sector operations.

• Journal of Intelligence and Information Systems
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• v.23 no.3
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• pp.139-153
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• 2017

Corporate bankruptcy can cause great losses not only to stakeholders but also to many related sectors in society. Through the economic crises, bankruptcy have increased and bankruptcy prediction models have become more and more important. Therefore, corporate bankruptcy has been regarded as one of the major topics of research in business management. Also, many studies in the industry are in progress and important. Previous studies attempted to utilize various methodologies to improve the bankruptcy prediction accuracy and to resolve the overfitting problem, such as Multivariate Discriminant Analysis (MDA), Generalized Linear Model (GLM). These methods are based on statistics. Recently, researchers have used machine learning methodologies such as Support Vector Machine (SVM), Artificial Neural Network (ANN). Furthermore, fuzzy theory and genetic algorithms were used. Because of this change, many of bankruptcy models are developed. Also, performance has been improved. In general, the company's financial and accounting information will change over time. Likewise, the market situation also changes, so there are many difficulties in predicting bankruptcy only with information at a certain point in time. However, even though traditional research has problems that don't take into account the time effect, dynamic model has not been studied much. When we ignore the time effect, we get the biased results. So the static model may not be suitable for predicting bankruptcy. Thus, using the dynamic model, there is a possibility that bankruptcy prediction model is improved. In this paper, we propose RNN (Recurrent Neural Network) which is one of the deep learning methodologies. The RNN learns time series data and the performance is known to be good. Prior to experiment, we selected non-financial firms listed on the KOSPI, KOSDAQ and KONEX markets from 2010 to 2016 for the estimation of the bankruptcy prediction model and the comparison of forecasting performance. In order to prevent a mistake of predicting bankruptcy by using the financial information already reflected in the deterioration of the financial condition of the company, the financial information was collected with a lag of two years, and the default period was defined from January to December of the year. Then we defined the bankruptcy. The bankruptcy we defined is the abolition of the listing due to sluggish earnings. We confirmed abolition of the list at KIND that is corporate stock information website. Then we selected variables at previous papers. The first set of variables are Z-score variables. These variables have become traditional variables in predicting bankruptcy. The second set of variables are dynamic variable set. Finally we selected 240 normal companies and 226 bankrupt companies at the first variable set. Likewise, we selected 229 normal companies and 226 bankrupt companies at the second variable set. We created a model that reflects dynamic changes in time-series financial data and by comparing the suggested model with the analysis of existing bankruptcy predictive models, we found that the suggested model could help to improve the accuracy of bankruptcy predictions. We used financial data in KIS Value (Financial database) and selected Multivariate Discriminant Analysis (MDA), Generalized Linear Model called logistic regression (GLM), Support Vector Machine (SVM), Artificial Neural Network (ANN) model as benchmark. The result of the experiment proved that RNN's performance was better than comparative model. The accuracy of RNN was high in both sets of variables and the Area Under the Curve (AUC) value was also high. Also when we saw the hit-ratio table, the ratio of RNNs that predicted a poor company to be bankrupt was higher than that of other comparative models. However the limitation of this paper is that an overfitting problem occurs during RNN learning. But we expect to be able to solve the overfitting problem by selecting more learning data and appropriate variables. From these result, it is expected that this research will contribute to the development of a bankruptcy prediction by proposing a new dynamic model.

• The Journal of the Korea Contents Association
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• v.14 no.6
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• pp.367-384
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• 2014

This study addresses an empirical issue which has been received little attention in the contemporary finance literature: To identify any financial determinants of the profitability indices for the firms belonging to the Korean chaebol. Three hypotheses of concern were postulated and tested for the sample firms covering the periods of the pre-and post-financial global crises. Regarding the results on the 1st hypothesis test of characterizing any financial profiles for the firms (belonging to the chaebols) by estimating a legitimate panel data model: the present study found the statistically significant relationships of the explanatory variables (BVLEVl, MVLEVl, MV/BV, RISK, FCFF and FOS) with the book-value based profitability ratio: while the market-valued profitability index was explained only by BVLEV2. Regarding the 2nd hypothesis test for the profitability of the sample firms at the industry level: the chaebol firms in the chemical and the food industries overall positioned themselves into the top ranks in order, which was tested by the ANCOVA and the Tukey multiple comparison procedure. Finally: on the 3rd hypothesis test for the 'adjusted' Dupont system, only two such as the 'operating margin' and the 'asset turnover' showed their significant effects between the chaebol firms and their counterparts in both the (parametric) independent samples t-test and the (nonparametric) Wilcoxon-Mann-Whitney statistics.

• KDI Journal of Economic Policy
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• v.36 no.2
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• pp.103-136
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• 2014

The covered interest rate parity condition (CIRP) has been widely used in open macroeconomic analysis, risk management, exchange rate forecasts, and so forth. Due to the recent global financial crises, there have been remarkable changes in the financial markets of the emerging markets. These changes possibly influenced the dynamics of the covered interest rate parity condition. In this paper, we investigate whether the CIRP dynamics has changed, and what is the nature of the regime changes. To do this, we propose and estimate multiple-state Markov regime switching models using a Bayesian MCMC method. Our estimation results indicate that the default risk or the deviation from the CIRP has been decreased after the crisis. It seems to be associated with the more active interaction between the short-term bond market and the short-term foreign exchange market than before. The tightened relation of these two financial markets is caused by the arbitrage transaction of foreign investors.

• Journal of Digital Convergence
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• v.15 no.9
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• pp.463-470
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• 2017

The aim of this research is to examine patterns of design governance used by Northern European countries to respond to social crises and understand design governance as a tool for sophistication of social services and social integration. Design governance as applied in Sitra of Finland, MindLab of Denmark and the Gulliver project of Germany encourages using design methodology for analyzing and solving problems related to social phenomena based on involvement of the private, public, industrial, and academic groups. Especially, the citizens are actively involved in developing problem-solving ideas and designing new policy with other governance members, rather than simply providing information or one-time participation. In the cases discussed in this study, design governance reduce unnecessary administrative and financial consumption and inconvenience caused by complicated rules, based on field-oriented approach, regional characteristics, pluralism, and respect for diversity. Therefore, future design policy paradigm will need to evolve into concept of policy design and pluralistic monitoring centered on design governance based on participation of private sector to lead policy development, from the current system in which only few officials decide policy.