• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.57-66
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• 2021

The outbreak of the financial crisis, the lack of corporate governance practices in Iraqi companies, the high level of earnings management (EM), and weak firm performance (FP) have all encouraged the purpose of this study. This study proposes to achieve the following objectives: (I) to investigate the influence of governance mechanisms on the earnings management practices, (II) to investigate the consequence of EM on FP. The study sample includes 65 Iraqi firms listed on the Iraqi stock exchange for six years from 2012 to 2018, with 390 firm-year observations. The hypotheses were tested using panel data regression. According to the findings, Iraqi companies prefer to use real EM rather than accruals EM to avoid reporting losses. Discretionary cash flow, production costs, and cash flow from operation are examples of actual operations employed to undertake EM. Furthermore, according to the findings of this study, board meeting frequency and female onboard have a significant and negative influence on EM. Besides, the internal audit function was found not to affect EM. On the other hand, results revealed a significant and negative relationship between EM and FP. According to the study, management prefers to minimize cash and accrual expenditure during the economic downturn.

• Structural Engineering and Mechanics
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• v.83 no.3
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• pp.401-413
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• 2022

The collapse of civil infrastructure due to natural disasters results in financial losses and many casualties. In particular, the recent increase in earthquake activities has highlighted on the importance of assessing the seismic performance and predicting the seismic risk of a structure. However, the nonlinear behavior of a structure and the uncertainty in ground motion complicate the accurate seismic response prediction of a structure. Artificial intelligence can overcome these limitations to reasonably predict the nonlinear behavior of structures. In this study, a deep learning-based algorithm was developed to estimate the time-history seismic response of bridge structures. The proposed deep neural network was trained using structural and ground motion parameters. The performance of the seismic response prediction algorithm showed the similar phase and magnitude to those of the time-history analysis in a single-degree-of-freedom system that exhibits nonlinear behavior as a main structural element. Then, the proposed algorithm was expanded to predict the seismic response and fragility prediction of a bridge system. The proposed deep neural network reasonably predicted the nonlinear seismic behavior of piers and bearings for approximately 93% and 87% of the test dataset, respectively. The results of the study also demonstrated that the proposed algorithm can be utilized to assess the seismic fragility of bridge components and system.

• International Journal of Computer Science & Network Security
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• v.22 no.5
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• pp.215-219
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• 2022

Bankruptcy is one of the major areas that have attracted the interest of many researchers in the American system, particularly in terms of the laws that oversee it. It provides a plan of reorganization that enables the debtor or the proprietor to discharge liabilities to the creditors through dividing the assets to settle debts. This activity is carried out under supervision to fairly protect the interests of the creditors. Bankruptcy protection systems are dynamic and complex in nature, in line with the economic sector, ensuring the protection of affected individuals from falling into huge losses. Some bankruptcy procedures give the debtor the opportunity to stay in operation or business activity and benefit from revenues until the debt is settled. This law allows some debtors to be relived from any financial burden after the distribution of assets, even if the debt is not paid in full. In light of the above information, this research paper seeks to explore the nature of the complexity of bankruptcy protection laws, their characteristics, and the justice system that regulate them. It also sheds more light on the decision-making powers on bankruptcy cases. There are specialized courts that cover bankruptcy cases located in district courts in every state.

• Journal of the Korea Society of Computer and Information
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• v.28 no.8
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• pp.59-66
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• 2023

The Golden Cross is commonly seen as a buy signal in financial markets, but its reliability for predicting stock price movements is limited due to market volatility. This paper introduces a time-invariant approach that considers the Golden Cross as a singular event. Utilizing LSTM neural networks, we forecast significant stock price changes following a Golden Cross occurrence. By comparing our approach with traditional time series analysis and using a confusion matrix for classification, we demonstrate its effectiveness in predicting post-event stock price trends. To conclude, this study proposes a model with a precision of 83%. By utilizing the model, investors can alleviate potential losses, rather than making buy decisions under all circumstances following a Golden Cross event.

• Steel and Composite Structures
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• v.47 no.4
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• pp.451-454
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• 2023

Landslides are one of the natural disasters that cause a lot of financial and human losses every year It will be all over the world. China, especially. The Mainland China can be divided into 12 zones, including 4 high susceptibility zones, 7 medium susceptibility zones and 1 low susceptibility zone, according to landslide proneness. Climate and physiography are always at risk of landslides. The purpose of this research is to prepare a landslide hazard map using the Hierarchical Analysis Process method. In the GIS environment, it is in a part of China watershed. In order to prepare a landslide hazard map, first with Field studies, a distribution map of landslides in the area and then a map of factors affecting landslides were prepared. In the next stage, the factors are prioritized using expert opinion and hierarchical analysis process and nine factors including height, slope, slope direction, geological units, land use, distance from Waterway, distance from the road, distance from the fault and rainfall map were selected as effective factors. Then Landslide risk zoning in the region was done using the hierarchical analysis process model. The results showed that the three factors of geological units, distance from the road and slope are the most important have had an effect on the occurrence of landslides in the region, while the two factors of fault and rainfall have the least effect The landslide occurred in the region.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.213-216
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• 2015

Despite the significant increase of Korean contractors in the international construction market, many SMCCs (Small & Medium Construction Companies) have suffered in the global financial crisis, and some of them have been kicked out of the international market after experiencing huge losses on projects. SMCCs face obstacles in the international market, such as an insufficient ability to gather information and inappropriate management of associated risks, which lead to difficulties in establishing effective business strategies. In other words, making immature decisions without an effective business strategy may cause not only the failure of one project but also the bankruptcy of the SMCC. To overcome this, the research presented herein aims to propose a decision support system for SMCCs, which would screen projects and make a go/no-go decision at the early stages of international projects. The proposed system comprises a double axis: (1) a profit prediction model, which evaluates 10 project properties using an objective methodology based on a historical project performance database and roughly suggests expected profit rate, and (2) a feasibility assessment model, which evaluates 17 project environment factors in a subjective and quantitative methodology based on experience and supervision. Finally, a web-based system is established to enhance the practical usability, which is expected to be a good reference for inexperienced SMCCs to make proper decisions and establish effective business strategies.

• Journal of Microbiology and Biotechnology
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• v.34 no.2
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• pp.349-357
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• 2024

Foodborne pathogens, like Listeria monocytogenes, continue to inflict substantial financial losses on the food industry. Various methods for detecting Listeria in food have been developed and numerous studies have been conducted to compare the different methods. But, in recent years, new Listeria species have been identified, and currently the genus comprises 26 species. Therefore, it would be a more accurate approach to re-evaluate existing detection methods by considering new species. The present investigation involved the analysis of 42 ready-to-eat (RTE) foods, encompassing a variety of food categories, such as mezes, salads, dairy products, and meat products, with the aim of ascertaining the presence of Listeria. Among the traditional culture-dependent reference methods, the ISO 11290 method was preferred. The process of strain identification was conducted with the API Identification System. Furthermore, to ascertain the existence of L. monocytogenes and Listeria spp., the samples underwent additional analysis employing the VIDAS Immunoassay System, ELISA, and RT-PCR methodologies. Thus, four alternative approaches were employed in this study to compare not only the different methods used to determine Listeria while taking into account the newly identified Listeria species, but also to assess the compliance of retail RTE food items with microbiological criteria pertaining to the genus Listeria. Based on the conducted analyses, L. monocytogenes was conclusively determined to be present in one sample. The presence of Listeria spp. was detected in 30.9% of the samples, specifically in Turkish cig kofte, sliced salami, and salads.

• Journal of Distribution Science
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• v.13 no.9
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• pp.95-101
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• 2015

Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• Journal of Digital Convergence
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• v.15 no.2
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• pp.121-133
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• 2017

The propose of study is to examine the characteristics of companies with high possibility to form an internal control weakness using forecasting model. This study use the actual listed/unlisted companies' data from K_financial institution. The first conclusion is that discriminant model is more valid than logit model to predict internal control weak companies. A discriminant model for predicting the vulnerability of internal control has high classification accuracy and has low the Type II error that is incorrectly classifying vulnerable companies to normal companies. The second conclusion is that the characteristic of weak internal control companies have a low credit rating, low asset soundness assessment, high delinquency rates, lower operating cash flow, high debt ratios, and minus operating profit to the net sales ratio. As not only a case of listed companies but unlisted companies which did not occur in previous studies are extended in this study, research results including the forecasting model can be used as a predictive tool of financial institutions predicting companies with high potential internal control weakness to prevent asset losses.

• Journal of Korea Trade
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• v.24 no.4
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• pp.49-70
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• 2020

Purpose - The UCP is recognized as the governing law for L/C transactions, but it covers only the general details of the transaction and does not cover all complex practices. In view of this limitation, this paper examines a negotiation transaction which is most actively utilized in L/C transactions via a thorough review of the UCP provisions, analyzes the problems of the negotiation clause in the UCP, and suggests appropriate countermeasures to deal with unnecessary litigation costs. By doing so, the parties involved in the negotiation transaction would be able to avoid financial costs such as having to pay for lawsuits. Design/methodology - The present study first differentiates the general types of L/Cs (e.g., sight payment L/C, deferred payment L/C, acceptance L/C, and negotiation L/C), explains and the Article 2 and Article 12(b) of the UCP 600 where the term 'negotiation' is used, digs into the drawbacks of 'negotiation' occurring under the UCP 600, and discusses solutions to the problems found by analyzing the drawbacks descriptively. Findings - After a review of the UCP provisions on negotiation in detail, several possible problems which may occur in practice were discovered. First, as the UCP stipulates, the negotiating bank will want to delay payment to the maximum extent possible and make payment on the banking day on which the issuing bank reimburses the amount. This may lead the beneficiary towards bankruptcy or put it in financial crisis. Second, when a fraudulent transaction occurs, the negotiating bank can neither request the issuing bank to reimburse nor can it exercise its recourse right against the beneficiary because it has obtained all the rights of the beneficiary by purchasing the documents. Third, there is a practice in which the beneficiary sells the documents to its transaction bank which is not the nominated bank if the nominated bank specified in the credit is located in a third country or the exporter has no relationship with the nominated bank in the credit. In this case, whether to accept this and reimburse the non-nominated negotiating bank entirely depends on the issuing bank's decision even though such practice frequently occurs in Korea. Originality/value - There has been little research effort pertaining to negotiation transactions in detail even though negotiation L/C transactions account for around 70% in world trade notwithstanding deferred payment L/Cs and acceptance L/Cs that are also negotiated in practice. Thus, if the negotiations clause under the UCP 600 provisions were reviewed and the drawbacks of the negotiation transactions most actively used in L/C transactions were identified and examined, specific countermeasures could ultimately help smoothen the operation of L/C transactions and prevent financial losses.