• Korean Journal of Social Welfare Studies
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• v.48 no.2
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• pp.173-201
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• 2017

This study examined the degree of socioeconomic deprivation in the areas of material hardship, health, housing, employment, and social network among people using debt relief programs. The sample, 209 individuals, was recruited from major agencies offering debt relief programs, including Seoul Bankruptcy Court, Credit Counseling and Recovery Service, and Seoul Welfare Foundation. Data were collected through in-person interviews in 2016. The sample was compared in terms of the level of deprivation with the general population and the low-income group, extracted from the Korea Welfare Panel Study. The debtors group demonstrated a substantially higher level of deprivation on all the dimensions examined. For example, the proportion of people who suffered from hunger was 37.8% in the debtors group compared to 6.7% in the low-income group. The proportion of people who had suicidal ideation in the last 12 months was 57.9% compared to 19.2% in the low-income group and 2.7% in the general population. The level of deprivation was different by chapter choice of consumer bankruptcy. Policy and practice implications of the results were discussed.

• Journal of Korea Society of Industrial Information Systems
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• v.29 no.2
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• pp.119-131
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• 2024

In recent years, there has been a significant growth in loan comparson services offered by fintech platforms in South Korea. However, it has been reported that loan comparison platform users tend to have a higher risk of default compared to non-users. This paper investigates the difference in platform-specific credit risk factors using survival analysis models - Kaplan-Meier curves and Accelerated Failure Time (AFT) model. Our findings show that, relative to non-users, users of loan comparison platforms are characterized by elevated default rates, a greater propensity for home ownership, lower credit scores, and shorter loan durations. Furthermore, our AFT models elucidate the variance in default risk among the various loan comparison service platforms, highlighting the imperative for customized strategies that address the unique risk profiles of customers on each platform.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.6
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• pp.283-290
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• 2021

Survival analysis was used to determine whether there are differences in the impact of trade payables on business failure according to the size of the company. A total of 41,781 firms from 1999 to 2019 were analyzed. The analysis period was divided into the entire period and before and after the financial crisis. The trade payable ratio is a proxy variable. The increase in trade payables over the entire period increases the possibility of business failure of Small and Medium Enterprises (SMEs). However, in large firms, a significant relationship between the increase in the trade payable ratio and the possibility of corporate failure could not be confirmed. Second, in SMEs during the sub-periods of 1999-2007 and 2009-2019, it was found that an increase in trade payables acts as a factor that increases the possibility of corporate failure. However, in large corporations, the increase in trade payables in the period from 2009 to 2019 has been shown to reduce the rate of failure. An increase in trade payables is recognized as the active development of business activities or the active use of interest-free debt. Therefore, it was confirmed that the impact of trade payables on corporate failure differs depending on the size of the company.

• Industry Promotion Research
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• v.9 no.2
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• pp.197-205
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• 2024

This study examines the impact of corporate ESG performance on debt default risk using a sample of Chinese A-share listed.The I mpact of ESG Performance on Debt Default Risk of Heavy Polluter Firms from 2012 to 2022. The findings show that good ESG performance can effectively reduce firms' debt default risk. Further analysis shows that firms' ESG performance reduces debt default risk by mitigating the impact of financing constraints. This study explores the influencing factors of debt default risk from the perspective of ESG performance, and also enriches the research on the economic impact of corporate ESG performance, providing empirical evidence for the prevention of corporate debt default risk.

• The Journal of the Korea Contents Association
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• v.19 no.8
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• pp.535-543
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• 2019

This study was conducted to find a pathway from the general government debt to GDP ratio(GDR) to the age standardized Suicide Rate(suicide rate). The variables used in this study are GDR, the consumer price index for living necessaries(CPIL), the household debt to GDP ratio(Household Debt), and suicide rate. The data used in this study were standardized data from 2001 to 2015 of Korean Statistical Information Service(KOSIS) and the path analysis was performed using the analysis IBM SPSS 22 and Amos. As a result of the path analysis, the path of GDR-CPIL-Household Debt-Suicide rate, and the direct of effect were in order 0.954, 0.904 and 0.675 were confirmed. The indirect effect of GDR on Household Debt is 0.862, GDR on Sucide Rate is 0.581, CPIL on Suicide Rate is 0.610. Neither of these indirect effect coefficient was significant(p>0.05).

• Journal of Digital Convergence
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• v.18 no.9
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• pp.103-112
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• 2020

The purpose of this study is to examine the current status and components of Korean National Debt and to analyze the effects of each component on National Debt. In the Korean Statistical Information Service (KOSIS), we searched for data such as General Accounting Deficit Conservation, For Foreign Exchange Market Stabilization, For Common Housing Stability, Local Government Net Debt Public Funds, etc that constitute National Debt. The analysis period used a total of 23 annual data from 1997 to 2019. The data collected in this study use the rate of change compared to the previous year for each component. Using this, this study attempted index analysis, numerical analysis, and model analysis. Correlation analysis result, the National Debt has a high relationship with the For Common Housing Stability. For Foreign Exchange Market Stabilization, Public Funds, etc., but has a low relationship with the Local Government Net Debt. Since 1997, National Debt has been increasing similarly to the For Foreign Exchange Market Stabilization, For Common Housing Stability and Public Funds etc. Since 2020, Korea is expected to increase significantly in terms of For Common Housing Stability and Public Funds, etc due to Corona19. At a time when the global economic situation is difficult, Korea's National Debt is expected to increase significantly due to the use of national disaster subsidies. However, if possible, the government expects to operate efficiently for economic growth and financial market stability.

• The Korean Journal of Financial Management
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• v.15 no.2
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• pp.81-105
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• 1998

본 연구는 우리나라 주거래은행이 거래기업의 재무곤경감소나 채무조정방법의 선택에 어떤 영향을 미치는 가를 검증해 보기 위한 것이다. 만성적 재무곤경상태에 빠져 있는 52개의 상장 기업을 대상으로 7년간의 누적투자율이나 매출액증가율 및 이익증가율을 조사해 본 결과 주거래은행관계의 척도라 할 수 있는 최대대출비율이나 주식소유 비율이 누적투자율이나 누적매출액증가율에 거의 영향을 미치지 못하는 것으로 드러났다. 그러나 대그룹소속기업들은 재무곤경기간에도 지속적인 투자나 매출액증대를 보여 그룹간의 내부금융이나 신뢰성이 중요한 역할을 하는 것으로 보여진다. 한편 재무곤경비용의 감소를 누적이익증가율이라고 간주한 경우는 주거래은행의 주식보유비율이 누적이익증가율에 (-)의 영향을 미치는 것으로 나타났다. 이는 부도공시기업의 검증결과와도 일치한다. 주거래은행관계의 유효성은 채무조정방법의 선택에서 잘 나타난다. 최대대출비율과 금융기관의 주식소유비율이 높은 기업일수록 사적협상에 성공할 확률이 높은 것으로 나타나 주거래은행을 위시한 주요 채권단들이 채무조정을 주도적으로 이끌어 워크아웃을 성공시킬 가능성이 높으며, 기업자체의 성장성이나 경영지배권 등의 소유구조는 그리 큰 영향을 미치지 못하는 것으로 나타났다.

• 해운
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• s.84
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• pp.10-16
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• 2011

2002년 이후 지속되어온 미국의 재정적자가 금융위기 중 확대되면서 미국 국가채무가 2012년에는 GDP를 초과할 것으로 전망된다. 미 의회는 5개월 이상 협상을 지속한 결과 2011년 8월 1일 국가채무 한도 상향조정을 포함한 예산통제법을 통과시켜 국가부도사태는 발발하지 않았다. 이러한 미 의회의 국가채무 한도 상향 조정에도 불구하고, S&P는 지난 8월 3일 미국의 국가신용등급을 AAA에서 AA+로 강등하였으며, 주식시장의 경우도 미국의 재정지출 감축으로 인한 경기회복지연, 신용등급 강등 영향으로 인한 국제금융시장의 위험자산 회피현상으로 급락하였다. 미국 재정지출 감축과 위험자산 회피현상에 따른 우리나라의 국내총생산 감소는 미미할 것으로 분석되지만, 재정긴축 계획으로 향후 5년 동안 미국 경제에 평균 -0.5%정도의 GDP 감소 효과가 있으며, 우리나라 GDP도 평균적으로 -0.02% 정도 감소시킬 것이다. 이에 따라 우리나라 기업들도 미국 재정긴축 및 신용등급 강등으로 인하여 발생할 수 있는 사항들을 다각적으로 분석하여 대처를 할 필요성이 제기되고 있다. 다음은 대외경제정책연구원에서 발표한 "미국 재정긴축 및 신용등급 강등의 효과분석"의 주요 내용을 정리 요약한 것이다.

• Korean Journal of Construction Engineering and Management
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• v.12 no.2
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• pp.121-132
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• 2011

One of the advantages of BOT PF(Project Finance) is the government can be protected from risks involved in projects as the private finances, builds, and operates relevant projects. Moreover, the private may avoid outstanding responsibility in case of default thanks to BOT PF's unique financial structure and characteristics. However, despite increasing attention on risk mitigation effect of financial structure and characteristic of BOT PF to default risk with emerging controversies of capital crunch, introduction of IFRS, and contingent liabilities, valuation of default risk mitigation effect caused by financial structure and characteristics of BOT PF still seems sophisticated due to uncertain cash flows, complexly layered contracts, and their interaction. So, this paper is to show the theoretical frame to assess the default risk mitigation effect of financial structure and characteristic of BOT PF with option pricing and related financial economic theories and to provide some meaningful implications. Finally, this research shows that the financial structure and characteristics of BOT PF help mitigate the default risk and default risk mitigation effect increases as change of relevant variables on financial feasibility gets the BOT project less financially feasible.

• The Journal of Society for e-Business Studies
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• v.23 no.3
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• pp.207-224
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• 2018

In this article, an empirical study was conducted by using public dataset from Lending Club Corporation, the largest online peer-to-peer (P2P) lending in the world. We explore significant predictor variables related to P2P lending default that housing situation, length of employment, average current balance, debt-to-income ratio, loan amount, loan purpose, interest rate, public records, number of finance trades, total credit/credit limit, number of delinquent accounts, number of mortgage accounts, and number of bank card accounts are significant factors to loan funded successful on Lending Club platform. We developed online P2P lending default prediction models using discriminant analysis, logistic regression, neural networks, and decision trees (i.e., CART and C5.0) in order to predict P2P loan default. To verify the feasibility and effectiveness of P2P lending default prediction models, borrower loan data and credit data used in this study. Empirical results indicated that neural networks outperforms other classifiers such as discriminant analysis, logistic regression, CART, and C5.0. Neural networks always outperforms other classifiers in P2P loan default prediction.