• Proceedings of the Technology Innovation Conference
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• 2004.06a
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• pp.214-236
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• 2004

최근 국제 금융시장은 컴퓨터 및 통신분야의 기술진보로 비 은행금융기관에서도 상업은행에 의해서만 독점적으로 제공되었던 거래서비스를 결합한 새로운 금융서비스를 제공할 수 있게 되었고, 이는 곧 은행과 비 은행금융기관의 벽을 무너뜨리는 양자 간 동질화 현상을 유도하였으며 활발한 금융 겸업화 현상으로 금융혁신이라고 부를 만한 서비스분야의 기술혁신 성과를 거두게 되었다. 본 연구는 금융권간 판매채널 통합의 시작이라 평가되는 방카슈랑스를 중심으로 금융기관 간 겸업의 활성화를 통해 산업 간 동질화를 이루는 시점에서 금융혁신이 이루어진다고 설정, 금융서비스의 기술혁신 성과를 예측해 보았다 이를 위해 먼저 우리나라 대표 금융기관 격인 은행과 보험, 증권회사가 금융겸업을 이루는 경우 각 겸업 주체 기관의 혁신적인 성과를 실증 분석하도록 한다. 분석대상은 표본기간 중 국내 주식시장에 연속으로 상장되어 있는 모든 은행, 증권, 손해보험 49개를 대상으로 수행하였으며, 표본자료는 KIS-LINE이 제공하는 재무제표자료와 한국증권거래소에서 제공하는 주가데이터에서 추출하였다. 본 연구의 금융혁신 성과 분석은 두 단계로 이루어진다. 먼저 금융기관 간 가상 합병을 이용, 시뮬레이션 분석을 하고 그 결과 각 금융기관의 ROA와 자기자본비율 및 안전성(위험성지표)을 분석한다 다음 단계로 안전성이 보장되지 않는 경우 적정하게 추정된 안전성 내에서 경영 성과를 이루는 최적 기간에 대해 실물옵션평가(Real Option Valuation) 분석을 한다. 그 결과 금융겸업을 통한 혁신 성과는 은행 주체로 비 은행금융기관과 겸영하는 경우 이상적으로 잘 보여지며, 증권 주체로 보험업을 겸업하는 경우는 ROA 와 자기자본비율 면에서는 혁신적이나 안전성 면에서는 저해된다는 결과를 알아내었다. 그리고 이 같은 안전성의 위험은 증권업을 실행하는데 요구되는 수준의 안전성을 유지하는 경우 3 년간의 투자기간 후에는 혁신사업으로 발전할 수 있는 발판을 마련하게 된다고 추정하였다.

• Journal of the Society of Disaster Information
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• v.8 no.3
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• pp.242-257
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• 2012

Korea's population change trend is the aging and feminization as Reduction in mortality, average life extension. and is further increased Reduction of birth rate and aging population. if Our country concluded FTA(Free Trade Agreement) with the United States, Europe and China etc. labor-intensive industries will be the decline. Then, the construction workers' jobs are continually reduced. This is critical to the nation's economic, social and environmental influences due to Shortage of construction workforce and increasing labor costs. Eventually this is a major factor in reduced construction productivity. Therefore, this study is presented as a construction productivity development prospects on the value-added analysis per Labour productivity employee from Construction market trends, industry-specific productivity index, industry trends Employed, age tiered workforce trends, women's workforce trends, labor time trend, foreign workers, workforce trends, analysis of trends in construction contract, awarded by Company Size trends, construction management analysis index.

• Korea Real Estate Review
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• v.27 no.3
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• pp.23-40
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• 2017

This study examined the motive and incentive for the disposal and purchase of corporate real estate assets based on the various firm characteristics. It was empirically found that firms with a higher leverage ratio, lower cash holdings, and lower sales growth are more likely to dispose of their real estate assets. This implies that financial constraints, internal reserves, and growth opportunities are important factors affecting the corporate decisions regarding the disposal of real estate assets. Meanwhile, it was found that firms with a lower leverage ratio have a higher probability of purchasing real estate assets, suggesting that a stable financial structure enables firms to acquire more of such assets. Using the transaction amount of corporate real estate assets, consistent results were found. While varied opinions on the utilization of corporate real estate assets have been raised, this study broadened the understanding of such by performing rigorous analyses. The result of this study would have practical implications in terms of the introduction of regulations or the establishment of business strategies related to corporate real estate assets.

• The Journal of the Convergence on Culture Technology
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• v.5 no.1
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• pp.341-346
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• 2019

The study aims to provide a study on the mixing ratios and manufacturing methods of biodegradable PLA sheets for mid - term introduction, A 3-layer process was introduced to produce a multifunctional multi-layer structure sheet having improved heat resistance, impact resistance and transparency while having anti-fogging functionality as a biodegradable PLA sheet used for the purpose of anti-fogging function. Inner layer, core layer and outer layer were mixed and extruded. The inner layer and core layer were studied for a biodegradable PLA multi-layer sheet structure having inner hardness and high heat resistance and outer layer for imparting antifogging function. By applying the results of this study, plastic PLA properties and heat-resistant temperature can be improved to replace and expand plastics.

• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.95-125
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• 2009

This paper examines the disciplinary effect of deposits using the semiannual accounting data of mutual savings banks(henceforth 'MSBs') in Korea for the period of 2003 through 2007. I find overall strong evidence in favor of the existence of market discipline in the industry. MSBs with higher BIS ratio and lower NPL ratio turn out to have higher increase rate of deposits than MSBs with lower such ratios. The coefficient of NPL ratio becomes greater with time, suggesting that the effect is cumulative. It turns out that depositors respond more sensitively to NPL ratio than BIS ratio in a period of MSB failure. On the other hand, MSBs turn out to act very positively responding to the depositors' discipline. They increase BIS ratio or decrease NPL ratio following the previous decrease in deposits. Government authorities need to make more efforts to develop a suitable incentive system (e.g. penalties on a false disclosure) to improve the efficiency of disclosure by MSBs. Moreover, they need to acknowledge the importance of NPL ratio as a market disciplinary tool which has been becoming more important, especially in times of MSB failure.

• International Area Studies Review
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• v.13 no.3
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• pp.527-549
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• 2009

This paper investigates the relation of invert U-shape between the M/B ratio and leverage ratio by market, firm size, and a level of technology of firm. Our sample consists of 510 manufacturing firms continually listed on the Korea Securities Market and Kosdaq Market from January 1, 2001 to December 31, 2008. The total sample consists of the Korea Securities Market(large firms, high technology industry) sample of 2,248(1,816, 1,704) observations and the Kosdaq Market(small and medium firms, high technology industry) sample of 1,632(2,264, 2,376) observations. The empirical results show that the relation of invert U shape appears on the sample of the Kosdaq Market, small and medium firms, and high technology industry. However, the relation doesn't appear on the sample of the Korea Securities Market, large firms, and low technology industry. These mutually different results may be caused by the relatively low M/B ratio of the latter.

• Management & Information Systems Review
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• v.32 no.2
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• pp.21-46
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• 2013

The purpose of this paper is to find impacts of financial activities-financing and investment of Venture Firms during pre-listing periods on the firms' Venture Firm's listing(delisting). The several ratios financial variables relevant to the financing and investment were examined whether there are difference or not between two venture firms groups. The results of study can be summarized as follows. First, the firms of successful group have fewer numbers of equity financing and higher times of premium in issuing stocks than those of failed firms but there is no significant difference in the required time from startup to listing the KOSDAQ. Second, there is no significant difference in the ratio of capital increase in IPO between two groups but additional survey reveals that the successful firms financed equity in IPO by higher numbers of premium than failed firms, which can makes the major shareholder of the successful firms maintain high rayios share of stock. Third, the ratio of working capital investment of the successful firms is significantly higher than that of failed firms, on the other hand the failed firms' ratios of equipment and repayment investment are higher than those of successful firms. Finally, the ratio of R&D investment has no difference between two groups, this result is against the expectation, which is to be further analyzed.

• Management & Information Systems Review
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• v.34 no.3
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• pp.101-123
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• 2015

Amidst the growing uncertainty in external environments, securing and retaining superior human resources is becoming emphasized as a key means for organizations to achieve competitive advantages. Particularly, star employees-human resources that are characterized by their ability to create extraordinary performance relative to other peers-are increasingly gaining attention in both academia and industry because of its importance in knowledge-based industries. However, despite the prevailing recognition for star employees, few previous literature have attempted to empirically test the direct relationship between the ratio of star employees in an organization and organizational performance. Considering both the potential for positive and negative influence of star employees on organizations, the relationship between the ratio of star employees and organizational performance can not only be a simple linear relationship but can also exist in a curvilinear form. Building on the existing literature on star employees, this paper establishes competing hypotheses for the two possibilities of curvilinear relationship; as the ratio of star employees increases, marginal effects can either increase (i.e., U-shaped curvilinear relationship) or decrease (i.e., inverted U-shaped curvilinear relationship). Employing an unbalanced panel data of 35 Korean brokerage firms between years 2008 and 2013 with 134 observations, the relationship between the ratio of best analysts (i.e. star employees) as selected by Maeil Business Newspaper and financial performance (i.e. organizational performance) of corresponding brokerage firms is examined. Empirical results indicate that while organizational performance increases as the ratio of star employees increases, its positive effect diminishes over time which provides support for the curvilinear relationship with decreasing marginal effects. Our research findings imply that star employees create value in knowledge-based industries; at the same time, implications are given as results calls for caution for excessive dependence on star employees beyond a certain level.

• Korean Association of Arts Management
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• no.55
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• pp.115-154
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• 2020

This paper examines the professional qualifications of the directors of important public art museums in Korea in comparison to museums outside Korea through analysis of the directors' primary qualifications, including academic background, major, career experience, and study abroad experience, as well as secondary qualifications, including length of tenure, age, gender, and alma mater, which can indirectly the hiring process for directors. The museums examined in this study are separated into three geographical categories - 1. Seoul, 2. the Seoul Metropolitan Area, and 3. locations in Korea outside the Seoul Metropolitan Area - to analyze how the influence of primary and secondary qualifications differs across geographies. Additionally, this study looks at how the professional qualifications of directors in Korea compare to the qualifications of directors outside Korea to identify the idiosyncrasies of the Korean system. It finds that directors in Korea, in general, have a shorter length of tenure, are older, are more likely to be female, and are less likely to be foreign than the directors of overseas museums. Experience-wise, directors in Korea often have experience working as art experts, artists, and art professors, but their backgrounds differ depending on the region in which they are working. Although directors in Korea have, across the board, studied abroad and graduated from prestigious universities, there are noticeable differences across the three geographical locations looked at. Notably, in Korea, the proportion of directors who majored in practical skills is high, while in the case of directors overseas, the proportion of those who majored in art history is high. In addition, while a high percentage of directors are graduates of Hongik University regardless of their museum's location, graduates of Seoul University are mainly concentrated in the Seoul and Seoul Metropolitan Areas. Museums outside the Seoul Metropolitan Area, on the other hand, often hire directors who have graduated from a nearby university. These differences mark a contrast between Korean museums and museums overseas, which generally hire directors who have graduated from prestigious universities, regardless of geographical location.

• 월간낙농육우
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• v.34 no.10
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• pp.153-162
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• 2014

낙농가들은 향후 경영계획에 있어 규모확대(32%)보다는 현상유지(54%)를 더 원하고 규모축소(1.7%)와 낙농포기(3.4%)의사는 전년(7.7%)대비 2.6%P가 감소한 것으로 조사됐다. 그리고 낙농을 포기하는 주된 이유로는 환경문제가 꾸준히 1순위를 차지하고 있지만 이번에는 그 비율이 상대적으로 높아졌다. 최근 '가축분뇨의 관리 및 이용에 관한 법률'을 포함한 환경관련 규제가 강화된데 따른 것으로 보인다. 낙농가들은 국내 낙농업 전망에 대해 88%가 어려울 것으로 내다보고 있지만 10%정도는 '해볼만하다'는 낙관론도 보였다. 시급한 환경현안으로는 무허가 축사(39%)와 퇴비화시설(36%) 문제를 꼽는 낙농가가 가장 많았으며, 환경문제를 해결하기 위해 농가당 최소 5000만 원~2억 원의 추가 투자가 필요한 것으로 조사됐다. 또한 FTA시대에 가장 중요한 낙농대책으로는 '전국단위 낙농제도 개선'(35%)과 '제도적인 우유소비확대 마련'(29%) 등으로 나타났다. 목장의 토지이용과 관련한 규제사항으로는 가축사육제한구역(31%), 상수원수질보전대책지역(14%), 군사시설보호구역(13), 개발제한구역(8%) 순으로 나타났다. 지역별로는 경기도와 강원도의 경우 '군사시설보호구역' 때문이라는 응답이, 충청도와 경상도는 '가축사육제한구역' 때문이라는 응답이 가장 높은 것으로 조사됐다. 이번 조사는 협회 낙농정책연구소(소장 조석진)가 최근 국내 낙농의 경영현실과 당면과제에 대한 실태를 파악하고 이를 낙농정책수립에 필요한 기초자료로 제공하기 위해 지난 2014년 5월 19일부터 6월20일까지 한 달간 낙농조합의 협조를 얻어 전국의 6,000 농가 중 700 농가를 선정해 실시, 그중 설문에 참여한 542농가의 응답결과를 분석한 것이다. 낙농정책연구소는 이번 조사 결과를 '2014 낙농경영 실태조사' 책자로 발간해 유관기관 및 협회 도지회 등에 배포했다.