• Health Policy and Management
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• v.15 no.1
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• pp.78-96
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• 2005

The purpose of this empirical study is to investigate whether costs are 'sticky' -that is, whether costs increase more when revenues rises than they decrease when revenues falls by an equivalent amount by using the financial data fromf korean general hospital Financial data used in this study were obtained from the Database of Korean Health Industry Development Institute and analyzed using multiple regression model in dummy variables. The main results of this study are as follows: First, we found, for 69 Korean general hospitals for 3 years(2000~2002), that total hospital costs, hospital labor costs, hospital administrative costs were sticky, these costs provided strong support for the sticky costs hypothesis 1, but hospital material costs were shown to be proportional to sales revenues. Second, this results provided strong support for the hypotheses that the' degree of stickiness was lower in sales revenues declining that were preceded by revenue-declining periods (hypothesis 2-1), and that stickiness was less pronounced in a second successive year of revenue decline(hypothesis 2-2). Third, this results provided strong support for the hypothesis(hypothesis 3) that stickiness was greater hospitals that employ relatively more people to support their sales revenues(hypothesis 4) that stickiness was greater for hospital that used relatively more assets to support their sales revenues. After all, a managerial implication of this study was that sticky cost, for the general hospital, could be recognized and controlled.

• Ocean and Polar Research
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• v.37 no.3
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• pp.211-223
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• 2015

Korean society has been recently promoting the restoration of coastal wetlands. These efforts might become the basis of a policy framework that compensates for the limitations of a regulation-oriented policy such as the designation of Marine Protected Areas (MPAs). The shift in government policy could contribute to strengthening the socioeconomic infrastructure of coastal development through the accumulation of ecological capital. Although our scientific efforts and social demands in regard to the ecological restoration of the coastal wetlands have increased during the past years, the bases for restoration in Korea requires that scientific, technological, financial, social and legal aspects be enhanced. The present study re-examined the concept and attitudes behind coastal wetland restoration in the light of changing circumstances in Korea. Herein, we first defined coastal wetland restoration as "An act of recovering the functions of the ecosystem of coastal wetlands to a state that resembles conditions prior to being damaged." Next, this study discussed the limitations and future directions of such restoration efforts based on the descriptive analyses of recent restoration practices from social, economic, and technological aspects. Finally, we suggest future policy directions regarding coastal wetland restoration on the basis of a PFST (Policy, Financial, Social, and Technological) analysis; 1) re-arranging legal mechanisms, 2) setting multi-dimensional restoration goals, 3) establishing a multi-discipline- and convergence based R&D system, 4) linking spatial management and local development to the restoration, 5) building restoration governance at the local level, 6) implementing an ecosystem service payment system, and 7) applying test-bed projects in accordance with proper directions.

• Journal of Labour Economics
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• v.35 no.3
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• pp.51-81
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• 2012

This paper empirically investigates the dynamics of the poverty-higher education gap in Korea. Poverty may lead to a gap in access to higher education through two channels: the short-term inability to pay college tuition and fees and long-term disadvantages arising from one's environment that impede the development of academic ability. A regression analysis based on data from the Korean Education and Employment Panel suggests that it is long-term disadvantages that plays a dominant role in the dynamics of this gap. We also replicate a study carried out by Carneiro and Heckman, who have addressed a similar question in the US. Again, the results confirm that the crucial constraint is the long-term accumulation of disadvantages arising mainly from family background, not the short-term constraint. These findings suggest that policies designed to alleviate short-term financial constraints, such as tuition reduction, will be less effective in reducing the gap in accessing four-year college in Korea than policies involving early intervention in children's development.

• The Journal of Society for e-Business Studies
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• v.13 no.4
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• pp.49-69
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• 2008

Recently, ubiquitous computing technology becomes available to develop advanced electronic commerce：u-commerce. Hence, it is the very time to perform feasibility analysis in applying ubiquitous computing technology, especially estimating economical value of the on-going technology. Hence, the purpose of this paper is to propose a financial value estimating methodology in performing feasibility test on ubiquitous computing technology. To do so, Black and Scholes model is basically adopted. To show the feasibility if the idea proposed in this paper, actual case study through focused group interview with those who are actually performing on-going ubiquitous computing projects. As the result, we validated the possibility of applying Black-Sholes model to assessing feasibility analysis for ubiquitous technology development with the price of call option, volatility, and the comparison with other similar technologies.

• KDI Journal of Economic Policy
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• v.34 no.1
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• pp.29-52
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• 2012

During the global financial turmoil in 2007-2008, deviation from the covered interest parity (CIP) between the Korean won and US dollar through the foreign exchange swap has escalated in its magnitude beyond 1,000bp in November 2008, and it still persists around 100bp level. In this paper, we examine a newly developed margin based asset pricing model using Kalman filter approach and show that the escalation of the CIP deviation is found to be significantly related to the global dollar funding illiquidity and country-specific funding conditions. Furthermore, we find evidence that the poor funding conditions (or higher margins) are driven by the general money market illiquidity and may lead to higher funding illiquidity, which suggests the reinforcing effects of the liquidity spiral. We also show that the supply of dollar liquidity and improved funding conditions help alleviate the deviations from the parity, however the persistent anomaly is found to be related to the high level of volatility in the FX swap market.

• KDI Journal of Economic Policy
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• v.27 no.2
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• pp.1-43
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• 2005

This paper examines works of F. Hayek and M. Friedman on monetary and financial policies. This paper highlights their differences, and asks what yielded them. It also shows there exists a gap between young Hayek and old Hayek, which cannot be explained in terms of his view on monetary theories. It further shows that Friedman's argument for '100% reserve bank' was not based on his monetary theories. Differences between Hayek and Friedman despite their common political belief, Hayek's transition, gaps between theories and policy views found in Hayek and Friedman-this paper argues that these facts can be best explained by Kuhn's paradigm theory. This paper concludes that truthfulness of a thesis on the public sector's role in the monetary system is subject to relativism.

• Journal of Digital Contents Society
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• v.6 no.1
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• pp.19-24
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• 2005

Mobile service is able to offer the elastic service to anyone regardless of the place and the tin. With this characteristics, the ubiquitous service could be also provided even to the place which the access was limited with the existing line service, which could improve the mutual connection and could result in the service extension Mobile communication companies, which realized the limit of sale only by telephone conversation, have made an effort to develop wireless internet with concentration as its alternation. Especially concentrating their effort both to the development of distinctive and various contents and to tin development of system for mobile service such as the mobile banking, mobile game and etc., they have done their best to secure the number of the people using the wireless internet. This study is to propose the electronic account system based on the mobile as a case study of contents production for such a mobile service. This system has its advantage to perform the financial management immediately when the income and outcome happen without limitation of the time and space. The information could be stored, searched and modified by using of the mobile phone for this system was made up for the weak point of the financial management for wired internet.

• Journal of Korean Society of Rural Planning
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• v.8 no.2 s.16
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• pp.27-41
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• 2002

This research is written for offering an approach to activate the stagnated industry of the tourist farm through analysis of the current operational problems and situation on some existing tourist farm nominated as such by the authority. There will be some considerations from three different categories : local autonomous groups, tourist farm associations and farm owners. On the other hand, it is assumed that this research can also be utilized as a basic material for activating the tourist farms in the suburban area of Taegu City. The operational problems in the suburban area of Taegu City are as follows : lack of a specialized Product development, the farm operation fund, lack of operational or management ability, lack of public information, etc. There are other Problems regarding law, institution and supporting : complexity of the current system involving all kinds of permission, shortage of financial and taxation supporting, lack of training an expert manpower, lack of ability and cooperation of a deskclerk in charge, etc. Here are some suggestions taking into consideration a respective sector of local autonomous group, tourist farm associations and farm owners for activating the tourist farms in the suburban area of Taegu City. First, a mental turnabout toward a tourist farm is needed from local autonomous groups. The law and institutional base should be arranged while the financial and taxation support is materialized. Second, tourist farm associations should amend or reinforce the existing institution to refresh the current recognition toward the tourist farm through many publicity activities. On the other hand, they should develop the overall tourist farm industry into a better service industry of the rural community by keeping an active system of cooperation with other related groups. Finally, It is advised that they should conceive farms and facilities which can symbolize the tourist farm from the stage of the first construction. In addition to a four-season souvenir development, an effective publicity activity and rational investment management. Above all, they should train themselves in terms of a service spirit before they see the prosperity of the tourist farm community.

• Korean Journal of Social Welfare
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• v.46
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• pp.37-59
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• 2001

This paper investigates the long-term social changes and the emerging issues in social insurance that such changes will entail, It does not attempt to resolve the conflict between neo-liberal reforms and neo-corporalist reforms. Nor does it confine itself to proposing the options to secure the financial stability of social insurance schemes. The aim of this paper lies in anticipating various problems that result from social development, analyzing the impacts of these problems on social insurance schemes, and delineating the solutions to these problems. This paper is comprised of three parts. First, it describes the expected long-term changes in society and the ensuing problems. Second, it asks whether these problems can be solved with increased public expenditures. For this purpose, an analysis of the trend in the expenditures by welfare states is attempted. Third, it summarizes the issues in social insurance and presents the possible solutions to the problems. In the chapter that deals with social changes and social problems, various aspects are reviewed, including the globalization process, the development of It industries, the uncertainty in the classification of incomes, the widening gap in earnings due to the bio-economy, and the relation between social insurance schemes and the tax system. It is concluded that there are limits to the role that increased public expenditures can play to solve the social problems. This paper argues for a structural change in the social insurance system. In every social insurance scheme, the state should foe-us its effect on the provision of basic protection against social risks for the whole population. At the same time, the state should improve the financial stability of the scheme and avoid large-scale deficits.

• Information Systems Review
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• v.8 no.2
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• pp.189-209
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• 2006

Business expects that IT investment would maximize the effects, like availability, timeliness, rapidity of information, by practical using of information technology for a strategic goal. However, it is not clear yet that IT investment would increase business productivity and could create profitability in the end-the linkage between IT investment and business KPI(Key Performance Indicator). In this case study(only provides post-evaluation case), we suggested integrated IT ROI(Return On Investment) methodology with a consistent and integrated view, on the base of practical implementation at Korean financial company. Especially, we evaluated connection between IT and business strategy, made business-related IT KPI development methodology, suggested framework for sustainable IT evaluation and management.