• Title/Summary/Keyword: financial development

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The Strategies for the Sustainable Management of Insurance Companies (보험회사의 지속가능경영 전략에 관한 연구)

  • Jung, Se-Chang;Seon, Hwan-Kyu
    • Communications for Statistical Applications and Methods
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    • v.18 no.1
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    • pp.119-130
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    • 2011
  • This paper measures and analyzes the performance of insurance companies in Korea in respect to sustainable development and suggest strategic implications based on the analysis. The correlation, regression, ANOVA, and t-test are employed. The results of this study are summarized as follows. First, it shows tat social index is important in the life insurance industry; however, the environmental index, is important in the non-life insurance industry. Second, the result gained by regressing the size and financial soundness on the performance of sustainable development demonstrates that the size variable is statistically significant. It suggests that size is a necessary condition for sustainable development. Finally, ANOVA shows that the small and medium sized companies have a significantly poor performance compared to the large companies concerning the social index and reputation index in the life insurance industry. The small and medium sized companies in the non-life insurance industry exhibit a significantly poor performance compared to the large companies in respect to all the indexes, except for the social index. Therefore, the small and medium sized companies make every endeavor in the poor indexes to improve performance.

A Valuation for Gas Hydrate R&D Project Using Fuzzy Real Options Model (퍼지실물옵션모형을 이용한 가스하이드레이트 R&D 사업의 가치평가)

  • Yun, Ga-Hye;Heo, Eunnyeong
    • Environmental and Resource Economics Review
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    • v.18 no.2
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    • pp.217-239
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    • 2009
  • As gas hydrate is recently emerging as a new energy source to solve environmental and exhaustion problems caused by fossil energy, Korea is working on a gas hydrate development project under a 10-year plan from 2005 to 2014. Gas hydrate is expected to have a big effect on the economy and society of Korea, which is largely depending on energy imports besides water energy and atomic energy. However, it is uncertain whether the project will produce successful results. Thus, it is very important to improve its validity and to propose effective execution strategies by evaluating the value of the project in advance. Thus, this study intended to include new information, which had not been evaluated in existing methods, and to reduce biases or errors in value evaluation results by applying a fuzzy risk analysis to the real option model in order to evaluate the value of a gas hydrate development project. It is advantageous that the real option model based on the fuzzy risk analysis modelizes the vagueness and inexactness of intangible element judgment into an appropriate language scale so as to evaluate these elements clearly and integrate them with estimated financial performance results. The application of the fuzzy risk analysis makes it possible to conduct an analysis by dissolving a decision-making issue with complicated and various attributes into several simplified problems. With the continuing high oil prices and today's demand of clean energy, the necessity of energy resources and technology development projects keeps growing. Amid this situation, it is expected that these study results will contribute to proposing a guideline not only for gas hydrate projects but also for policy decision-making related to future energy industries.

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The Effect of Environment-friendly Certifications on Agricultural Producer Organizations (친환경·GAP·HACCP이 농업 생산자조직에 미치는 영향)

  • Kim, Chang-Hwan;Park, Seong-Ho
    • Journal of Distribution Science
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    • v.13 no.6
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    • pp.97-104
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    • 2015
  • Purpose - The distribution of agricultural products is changing due to recent shifts in environmental free trade. Specifically, the competitiveness of domestic agricultural products has weakened as a result of the Korea-China Financial Trade Agreement. Agricultural producers are faced with increasing difficulties and organized production centers are growing in importance daily. To overcome this crisis, agricultural producer organizations are vying for environment-friendly agricultural certifications, Good Agriculture Practices (GAP) and Hazard Analysis and Critical Control Point (HACCP). In particular, as consumer demand for higher safety grows, farmers are increasing their certification rates. Therefore, this certification system is expected to help strengthen the competitiveness of agricultural producer organizations. Research design/data/methodology - Organized production centers are classified by certification. A survey was conducted with 91 organizations using factor analysis and logistic regression analysis for the examination. The factor analysis results are as follows. Raw material procurement, education·specialization, marketing, joint business, organizing ability, business management, effectiveness, certification, and larger organizations were classified as the nine types of factors. These factors affect the organized production centers and are used in the logistic regression analysis. The purpose of such research and analysis is to suggest a direction for future production center policies. Results - The basic statistical results are as follows: analysis of the producer organizations of 91 sites, average number of members per site of 1,624, and average sales of 25,961 million won. Additionally, the average income per farmer is 175 million won, and the pooling system rate is 53.5%. The factor analysis results are as follows. Factor 1 consists of contract cultivation, ongoing shipment, selection subdivision, traceability, and major retailer management. Factor 2 consists of manual cultivation, specialty selection, education program, and R&D. Factor 3 consists of advertising, various dealers, various sales strategies, and a unified sales counter. Factor 4 consists of agricultural materials co-purchase, policy support, co-shipment, and incentives. Factor 5 consists of the co-selection and pooling system. Factor 6 consists of co-branding and operating by the organization's article. Factor 7 consists of the buy-sell ratio and rate of operation of the agriculture promotion center. Factor 8 consists of bargaining power in volume and participation rate of farmer certification. Factor 9 consists of increasing new subscribers. The logistic regression analysis results are as follows. Considering the results by type of certification, the environment-friendly agricultural certification type and the GAP certification type have a (+) influence. GAP and HACCP certification types affecting the education·specialization factor have a (+) influence. Considering the results for each type of certification, the environment-friendly agricultural certification types on the effectiveness factor have (-) influence; the HACCP certification types on the organizing ability and effectiveness factor have a (-) influence. Conclusions - Agricultural producer organizations should develop plans as follows: The organizations need to secure education for agricultural production; increase the pooling system ratio for sustainable organizational development; and, finally, expand the number of agricultural producer organizations.

Development of Backward Safety Analysis Tool for CPN Models (CPN 모델의 역방향 안전성 분석 도구 개발)

  • Lee, U-Jin;Chae, Heung-Seok;Cha, Seong-Deok;Lee, Jang-Su;Gwon, Yong-Rae
    • Journal of KIISE:Computing Practices and Letters
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    • v.5 no.4
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    • pp.457-466
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    • 1999
  • 원자력 발전소 계측 제어 시스템, 의료 관련 시스템, 항공 관련 시스템 등 실생활과 밀접한 시스템에 소프트웨어의 사용이 점차 증가하고 있다. 이러한 시스템에서 소프트웨어의 오류는 예기치 않는 사고를 유발하여 인명, 재산상의 심각한 타격을 줄 수 있다. 그러므로 고신뢰도 소프트웨어의 개발 시에는 반드시 시스템의 안전성을 보장해 주어야 한다. 역방향 안전성 분석 방법은 시스템의 안전성을 분석하는 한가지 방법으로서 시스템의 위험 상태를 정의하고 그 위험의 원인들을 추적, 분석함으로써 안전성에 대한 효율적인 분석을 수행할 수 있는 장점을 갖는다. 이 논문에서는 소프트웨어 개발 초기 단계에서 안전성을 분석할 수 있는 방법으로 Colored Petri Nets(CPN)에 기반을 둔 역방향 안전성 분석 방법을 제시한다. 또한 CPN 역방향 안전성 분석 도구인 SAC(Safety Analyzer for CPN)의 설계 및 구현에 대해 언급한다. SAC은 기존의 상용 CPN 모델링 도구인 Design/CPN과 연계하여 사용될 수 있으므로 CPN으로 모델링된 시스템의 안전성을 분석할 수 있다는 장점이 있다. 이 논문에서는 예제로 자동 교통 제어 시스템의 일부를 CPN으로 모델링하고 SAC을 이용한 분석 과정을 기술한다.Abstract In safety-critical systems such as nuclear power plants, medical machines, and avionic systems which are closely related with our livings, the usage of software in the controlling part is growing rapidly. Since software errors in safety-critical systems may cause serious accidents leading to financial or human damages, system safety should be ensured during and after development of a system. A backward safety analysis technique defines system hazards and tries to trace their causes by analyzing system states backward. In this paper, we provide a backward safety analysis technique based on Colored Petri Nets(CPN), which is applicable to the early software development phase. Also Safety Analyzer for CPN(SAC), the supporting tool, is designed and implemented. Since SAC is compatible with Design/CPN, a commercial tool for supporting CPN, it can be applicable to analyze safety in practical problems. As an example, we model a part of the traffic light control system using CPN and analyze safety properties of the model using the SAC tool.

Research on development plan of medium and long period of Vocational Education for Chungbuk (충청북도 직업교육 중·장기발전 방안)

  • Oh, SeongKyeun;Uh, SangHo;Eun, TaeWook;Kim, JinKyun;Kim, JinSoo
    • 대한공업교육학회지
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    • v.31 no.1
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    • pp.146-169
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    • 2006
  • 'VEC 2010' is a mid-long term scheme on the development of Vocational Education for Chung-buk which is to be accomplished by 2010. On the basis of this scheme, schools adopt 3-Type curriculum considering their conditions and covert themselves into specialized high school which is associated with local industry cluster. They also establish combined high schools which run various curriculums emphasizing basic vocational abilities so that they can meet the needs of demanders The activation plan of Chung-buk province vocational education is a dualized one which is for both ongoing education for entrance into a school of higher grade and the last education for employment, which is supposed to foster the human resources required by the knowledge-based society in the 21st century. The specific contents of 'VEC 2010' is as follows. First, VEC 2010 presents 2 kinds of mid-long term management system for industrial high schools: general industrial high school, specialized high school(single type, combined type). Second, VEC 2010 arranges and run the 3-Type of curriculum of Chung-buk province industrial high schools: employment-centered type, entering higher school-centered type, inaugurating enterprise-centered type. Third, VEC 2010 divides Chung-buk province industrial high schools into 4 districts and suggests mid-long term reorganization plan of system. Fourth, VEC 2010 suggests the substantial strategies of Chung-buk province vocational education: scholarship improvement in the vocational investigation course of the government-sponsored scholastic aptitude test, education for improving basic vocational abilities, substantial management of joint laboratory, administrative and financial support of development of specialized, licensed textbooks. reenforcement of career education.

A Study on Social Responsibility's Legal Aspects and Its Expectation Effectiveness of Chinese Large Commercial Banks (중국 대형상업은행 사회적 책임의 법률적 측면 및 기대효과에 관한 연구)

  • Roh, Eun-Young;Kim, Ju-Won;Kim, Yong-June
    • International Area Studies Review
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    • v.18 no.3
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    • pp.147-173
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    • 2014
  • The economic growth of China, an average of 9% as an external performance, has caused lots of side effects in the country. The social issues such as income gap, especially the wide gap between the rich and poor, and regional divide are the main cause of concerns that China's economic growth is not sustainable. It prompted the Chinese government to realize that institutional regulations on CSR are not optional but required to promote the sustainable development of corporations. In 2006, CSR was addressed for the first time in China, as the government established the November 5 Plan and revised "Company Law". The government garnered social attention by introducing CSR for the first time in November 5 Plan. Also, the government established December 5 Plan in 2011 to set a key goal as 'sustainable development' and reflect concrete measures for CSR in its corporate policy. In particular, Commercial Bank has a social responsibility to establish more concrete, forceful regulations than those of general corporations, as a financial intermediary. Thus, this study is aimed at exploring how the social responsibility of Commercial Bank is reflected in the Banking Act, the issues, and legislative directions on the social responsibility of Commercial Bank in China.

A Study on the Changes in Residential Environments after Residential Environments Improvement Projects (주거환경개선사업이후 주거 환경 변화에 관한 연구 - 대구광역시 주거환경개선사업의 물리적 환경 분석을 중심으로 -)

  • Kim, Young-Hwa;Lee, Sang-Hong
    • Journal of the Architectural Institute of Korea Planning & Design
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    • v.34 no.10
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    • pp.3-12
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    • 2018
  • This research aims at analyzing the changes in residential environment after a residential environment improvement project focusing on the analysis into the physical environment of a residential environment improvement project, and examining in what direction the changes by residents' own efforts occurred after public support, such as infrastructure. The present residence development method has become different from the previous pulling down method and is focused on regeneration. By examining in what direction the target residence is being changed because of the development by residents' own efforts after the government's public investment at this time, this study also aims at investigating the direction to develop a guideline for residential improvement for later improvement of deteriorated residence. As for the contents of the analysis, changes in public support, such as infrastructure, and other areas after the residential environment improvement project were compared and analyzed from the land use, street system, and condition of buildings before the residential environment improvement project through field survey, geographic information system(GIS), registered land and building data and so on. The biggest change since the support from the government was that at the beginning of the project, the application of special provision of building laws and different financial supports led to lots of newly built buildings. Since then, their number has decreased rapidly, and in most cases, there have been some changes in part, such as changes in the use of land or repair of disposal tanks. Most newly built buildings were multi-household houses, and it has caused road capacity and parking lot capacity, etc., to be exceeded, which has worsened the pleasantness of the living environment. In addition, other problems have also appeared, for example, the lack of residence supporting facilities yet with a higher level of residential density. Regarding the changes in the residential environment after the residential environment improvement project, maintenance of houses were conducted in some degree as diverse alleviation policies to improve poor residence, yet the absence of the guideline for the direction of developing the whole district has made the residence environment more dense and deteriorated. To solve these problems, in advance to a residential improvement project, specific management methods based on short-, mid- and long-term plans for the direction of development by residents' own efforts and a sustainable guideline seem to be necessary.

Case Study on ESG Activities and Performance in Response to the Climate Change Crisis (기후변화 위기에 대응하는 건설기업 ESG 활동 및 성과 사례)

  • Lee, Yoonsun;Moon, Hyuk;Lee, Tai Sik
    • Korean Journal of Construction Engineering and Management
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    • v.22 no.2
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    • pp.106-118
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    • 2021
  • Global governments and initiatives have attempted and integrated various organizational efforts to implement the 17 Sustainable Development Goals (SDGs), presenting a new paradigm of sustainable development to address global issues (climate change, poverty eradication, and human rights). Recently, investment in sustainable finance has expanded to finance the attainment of goals set out in the Paris Agreement and SDGs. Non-financial factors such as environment, social responsibility, and governance (ESG) have become intangible assets that determine the future competitiveness and profitability of companies. Domestic and foreign institutional investors and asset management companies have been expanding their investments based on the ESG performance of companies. In this study, we aim to derive international standards and initiatives that require disclosure of information on corporate social responsibility activities and ESG performance and analyze construction companies' ESG activities and performance levels. The results of this study can be used as the basis to develop platforms for the construction industry ESG ecosystem and the measurement and management of intangible assets. These could ultimately contribute to overcoming the crisis in the future due to the outbreak of the COVID-19 pandemic, fostering net-zero emissions, and preventing fatal workplace accidents in the construction industry.

A Study on the Direction of Publicity and Technology Development of Public Service Media - Focusing on the cases of global public broadcasting (디지털 공영미디어의 공영성과 기술 발전 방향성 연구 - 해외 공영방송 사례를 중심으로)

  • Jung, Byunghee
    • Journal of Broadcast Engineering
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    • v.27 no.3
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    • pp.402-414
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    • 2022
  • Due to the convergence of broadcasting and telecommunication and the evolution into the media industry, viewers are adapting to the reception of content through various platforms and personal media. Accordingly, public broadcasting is seeking to change into public media that redefines public responsibility and establishes a role for a sustainable society. In particular, proving its value in the form of differentiated public services in an environment where public content is also provided by commercial services is necessary for members of society to prove the legitimacy of financial resources and services. In this paper, as the digital broadcasting era in the 2010s and the media industry was reorganized in 2020, changes in public services corresponding to the public responsibilities required of public broadcasters were analyzed through global public broadcasting cases. In particular, since the technical preparation of broadcasters and viewers is essential in the media environment, the technical direction of public services was mainly analyzed. The derived direction is a common direction applicable to all public broadcasters, including Korea. It is expected that the public responsibility and direction of technological development suggested in this paper will clarify the role of public media and help become differentiated services that contribute to life.

Compressed Demographic Transition and Economic Growth in the Latecomer

  • Inyong Shin;Hyunho Kim
    • Analyses & Alternatives
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    • v.7 no.2
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    • pp.35-77
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    • 2023
  • This study aims to solve the entangled loop between demographic transition (DT) and economic growth by analyzing cross-country data. We undertake a national-level group analysis to verify the compressed transition of demographic variables over time. Assuming that the LA (latecomer advantage) on DT over time exists, we verify that the DT of the latecomer is compressed by providing a formal proof of LA on DT over income. As a DT has the double-kinked functions of income, we check them in multiple aspects: early maturation, leftward threshold, and steeper descent under a contour map and econometric methods. We find that the developing countries (the latecomer) have speedy DT (CDT, compressed DT) as well as speedy income such that DT of the latecomers starts at lower levels of income, lasts for a shorter period, and finishes at the earlier stage of economic development compared to that of developed countries (the early mover). To check the balance of DT, we classify countries into four groups of DT---balanced, slow, unilateral, and rapid transition countries. We identify that the main causes of rapid transition are due to the strong family planning programs of the government. Finally, we check the effect of latecomer's CDT on economic growth inversely: we undertake the simulation of the CDT effect on economic growth and the aging process for the latecomer. A worrying result is that the CDT of the latecomer shows a sharp upturn of the working-age population, followed by a sharp downturn in a short period. Compared to early-mover countries, the latecomer countries cannot buy more time to accommodate the workable population for the period of demographic bonus and prepare their aging societies for demographic onus. Thus, we conclude that CDT is not necessarily advantageous to developing countries. These outcomes of the latecomer's CDT can be re-interpreted as follows. Developing countries need power sources to pump up economic development, such as the following production factors: labor, physical and financial capital, and economic systems. As for labor, the properties of early maturation and leftward thresholds on DTs of the latecomer mean that demographic movement occurs at an unusually early stage of economic development; this is similar to a plane that leaks fuel before or just before take-off, with the result that it no longer flies higher or farther. What is worse, the property of steeper descent represents the falling speed of a plane so that it cannot be sustained at higher levels, and then plummets to all-time lows.