• Korean Journal of Construction Engineering and Management
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• v.14 no.3
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• pp.3-11
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• 2013

The changes in construction business have impact on overall operation of construction companies. Poor business of construction companies following a s low industrial cycle could have broader implications and influences on the industry. Since a construction project involves various stakeholders including public organizations, financial institutions and households, a downturn in construction industry might lead to significant economic loss. In this regard, it is meaningful to examine the relationship between changes in construction business cycles and insolvency of construction companies. This study conducts an empirical analysis of the relationship between construction business cycles and how much they affect operation of construction companies. To this end, KMV model was used to estimate probability of bankruptcy, which represents business condition of a construction company. To examine construction business cycles, investment amount for different construction types-residential, non-residential, and construction work-was used as a variable. Based on the investment amount, VECM was applied and the analysis results suggested that construction companies should put priority on diversifying project portfolio. In addition, it was shown that once a construction company becomes unstable in business operation, it is hard to recover even when the market condition turns for the better. This suggests that, to improve business operation of a construction company, internal capacity-building is as important as the market condition and other external circumstances.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.8
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• pp.5267-5272
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• 2015

This paper analyzes the relationship between the industry bank loan concentration and its risk using the Korean bank loan data. We focused on the construction and real estate industry which are controversial on the non performing loans. We used the construction or leasing real estate industry bank loan ratio of the corporate bank loan as the bank loan concentration proxies. The bank risk are measured as the equity capital rate or the size of non performing loans. According to the results of this research, the preceding bank loan ration of the construction industry or the leasing real estate industry decreases the non performing loans and increases the equity capital rate. The bank loan concentration to the specific industry may not increase bank risk. The bank loan concentration may decrease the information asymmetry and improve the screening abilities the non performing loans. We suggest that the bank loan concentration on the construction or leasing real estate industry in the Korean economy may not directly connected to the bank risk.

• Journal of Intelligence and Information Systems
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• v.15 no.3
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• pp.1-15
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• 2009

In a classification problem, data imbalance occurs when the number of instances in one class greatly outnumbers the number of instances in the other class. Such data sets often cause a default classifier to be built due to skewed boundary and thus the reduction in the classification accuracy of such a classifier. This paper proposes a Geometric Mean-based Boosting (GM-Boost) to resolve the problem of data imbalance. Since GM-Boost introduces the notion of geometric mean, it can perform learning process considering both majority and minority sides, and reinforce the learning on misclassified data. An empirical study with bankruptcy prediction on Korea companies shows that GM-Boost has the higher classification accuracy than previous methods including Under-sampling, Over-Sampling, and AdaBoost, used in imbalanced data and robust learning performance regardless of the degree of data imbalance.

• Korean Business Review
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• v.17
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• pp.27-52
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• 2004

The miraculous growth of Korean economy and its business corporations during 1960' s and 1970's are mainly due to the government leadership and its market intervention. We can find the reasons why the government initiated economic growth plan was so successful in Korea in its efficient bureaucratic government system and fair discipline to the corporations based on its contribution to the economy. During 1960's, the primary factors for the growth of business entities and the formation of business groups were the financial special favor, the preferential treatment in the new industry entrance and the merge & acquisition, lavish export incentives from the government, and the export explosion to Vietnam. During 1970's, the substantial deduction of corporations' private debt, enormous support in heavy industry investment, special benefits to general trading companies by the government, and the construction export to the Middle-East were the main causes of the business growth and the business groups formation. Also, the economic rent for the big companies had still been effective since 1960's. However, the preferential benefit to the big companies made them to diversify into the unrelated business ares and to be in very vulnerable financial position. The governmental support brought about the monopoly as well.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2005.05a
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• pp.1068-1071
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• 2005

최근 들어 기술을 담보로 하는 신용금융의 역할이 증대되면서 자금지원 대상기업의 기술평가 시스템 구축이 중요한 과제가 되고 있다. 국내에서는 기업 보유의 기술경영성과를 측정하여 한정된 자원의 효율적 배분을 위한 민간 투, 융자를 위한 기술신용평가모형'이 제시되었다 본 연구에서는 기술신용평가모델의 평가항목 타당성을 실증 분석한다. 모형의 항목 분류가 적절하게 되었는지를 검증하기 위하여 구조적 타당성을 평가하며 통계적 유의성을 검증하여 신뢰성을 평가한다. 구조적 타당성 검정을 위해 확인 요인분석을 수행하며 평가모형의 신뢰성을 검증하기 위해서는 다변량 통계방법 중의 하나인 판별분석을 수행한다. 본 연구는 기술개발 성공 및 부실발생의 예측력을 갖는 기술신용평가 시스템 구축을 위한 기초 자료로 활용될 수 있을 것이다.

• The monthly packaging world
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• s.158
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• pp.149-159
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• 2006

서울시농수산물공사 햇마늘 포장화 적극 추진/ 부산광역시 부산국제수산무역엑스포/ 경상북도청 지역중소기업 산업디자인 지원 실시/ 천안시 특산물 포장 새 디자인 개발/ 광주광역시청 디자인기업 입주 밀물/ 환경부 공공기관 1회용 종이컵 사용 줄여/ 식품의약품안전청 식품 중 알루미늄 관리(대책마련추진)/ 식품의약품안전청 유기농화장품 표시 · 단속실시/ 식품의약품안전청 국제우수안전식품전시회 개최/ 식품의약품안전청 『의약품소량포장 규정』입안 예고/ 식품의약품안전청 카페인 · 糖등 함유표시 의무화/ 식품의약품안전청 부실 의료기기 시험 기관 경고/ 식품의약품안전청 소비자 맞춤형 HACCP 제도 전개/ 산업자원부 기술표준원 국가표준(KS)제정방식 대폭 개편/ 산업자원부 기술표준원 RFID산업화 국가표준 대폭 확충/ 특허청 제1회 대학생디자인공모전 개최/

• Proceedings of the Korea Water Resources Association Conference
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• 2011.05a
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• pp.103-103
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• 2011

오늘날 우리 사회는 물산업의 성장성을 높이 평가, 국내 물산업 육성이 경제발전을 위하여 중요하다고 말한다. 따라서 정부는 정부대로, 기업은 기업대로 시장의 육성 및 선점을 위하여 많은 노력을 경주하고 있다. 특히 최근에는 국내 물시장의 성장 한계성을 이유로 해외 물시장 진출의 중요성이 강조되고 있다. 하지만 우리사회는 정작 해외 시장 진출을 위해 무엇보다 중요한 부문인 시장에 대한 정보 탐색에는 노력이 미흡한 실정이다. 즉 해외 물시장 진출의 중요성을 강조하고는 있지만, 어느 시장을 목표시장으로 선정해야 하는지, 무엇이 우리의 강점인지, 무엇을 고객에게 줄 것인지 등에 대한 탐색이 미흡함에 따라, 해외 물시장 진출에 대한 속 시원한 해법을 제시하는 이는 많지 않다. 이에 본 논고는 물시장의 성장 가능성이 높을 것이라고 알려진 아시아 시장의 여러 국가 가운데 국내 시장에도 잘 알려져 있지 않은 말레이시아 시장을 중심으로 정부 정책, 시장 환경, 현지 기술력 등에 관하여 살펴보고, 이를 기초로 시장으로서의 기회와 위험, 그리고 국내 기업의 강점과 약점을 살펴보았다. 분석결과로서 기회와 위험, 강점과 약점을 약술하면 다음과 같다. 먼저 기회의 관점에서 말레이시아는 치수사업, 수도사업, 환경정화사업 등 물산업 인프라가 여전히 취약한 점에서 국내 물기업에게 시장으로서의 기회를 제공하고 있다. 둘째, 외국계 기업에 대한 정부의 규제, 부실한 수도 재정 및 낮은 요금 등은 외국계 기업에 게 있어 위험 요인이 된다. 셋째, 높은 기술력을 이용하여 성공적으로 물 인프라를 구축 운영함으로써 선진국 수준의 물안정성 및 안전성을 확보하고, 4대강살리기 사업과 같은 대규모 프로젝트를 통해 녹색성장 모델을 구축함은 국내 물기업의 큰 강점이다. 넷째, 국내 기업에 대한 현지 시장의 낮은 인지도는 약점 요인이 된다. 현지 이해 관계자의 말에 따르면 "한국계 기업은 보유하고 있는 기술력에 비해 '기업' 및 '보유기술'에 대한 홍보가 부족하다"라고 지적한다. 결과적으로 국내 물기업이 현지 시장에 성공적으로 진출하기 위해서는 무엇보다 국내 기업에 대한 그리고 국내 기술력에 대한 적극적인 홍보가 필요할 것이다.

• Korean Journal of Construction Engineering and Management
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• v.19 no.1
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• pp.74-79
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• 2018

The establishment of an effective bidding system is critical to ensure both the high quality of civil infrastructure and proper earning of contractors. However, the continuous changes of a bidding system in South Korea reveal that problems such as a dumping or high price winning have not been fully resolved yet. This study thus aims at understanding the bidding behavior and strategies of contractors by analyzing a tender ratio in historical data. Multiple regression analysis is conducted to understand the effect of internal and external factors (e.g., estimated cost, combined value of construction performance evaluation) on a tender ratio. The results statistically show that such factors affect the tender ratio an individual bidder determines and have the varying effect on the tender ratio by contractors' firm size.

• Journal of Korea Technology Innovation Society
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• v.10 no.2
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• pp.183-205
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• 2007

An investigation was undertaken of the optimal discriminant model for predicting the likelihood of insolvency in advance for medium-sized firms based on the technology evaluation. The explanatory variables included in the discriminant model were selected by both factor analysis and discriminant analysis using stepwise selection method. Five explanatory variables were selected in factor analysis in terms of explanatory ratio and communality. Six explanatory variables were selected in stepwise discriminant analysis. The effectiveness of linear discriminant model and logistic discriminant model were assessed by the criteria of the critical probability and correct classification rate. Result showed that both model had similar correct classification rate and the linear discriminant model was preferred to the logistic discriminant model in terms of criteria of the critical probability In case of the linear discriminant model with critical probability of 0.5, the total-group correct classification rate was 70.4% and correct classification rates of insolvent and solvent groups were 73.4% and 69.5% respectively. Correct classification rate is an estimate of the probability that the estimated discriminant function will correctly classify the present sample. However, the actual correct classification rate is an estimate of the probability that the estimated discriminant function will correctly classify a future observation. Unfortunately, the correct classification rate underestimates the actual correct classification rate because the data set used to estimate the discriminant function is also used to evaluate them. The cross-validation method were used to estimate the bias of the correct classification rate. According to the results the estimated bias were 2.9% and the predicted actual correct classification rate was 67.5%. And a threshold value is set to establish an in-doubt category. Results of linear discriminant model can be applied for the technology financing banks to evaluate the possibility of insolvency and give the ranking of the firms applied.

• The Journal of the Convergence on Culture Technology
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• v.8 no.2
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• pp.47-52
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• 2022

The purpose of this study is to identify the risk level of Chinese commercial banks' loan assets and to analyze what factors affect the stability of Chinese commercial banks. In addition, Chinese commercial banks are classified based on the asset size of 200 billion yuan, and the difference in stability according to size is investigated. The analysis results are as follows. First, it was estimated that as the proportion of household and corporate loans of commercial banks in China increased, the stability of banks decreased. Although the Chinese financial authorities are currently restricting the conservative management of loan assets, it will be necessary to preemptively manage risk on loan assets by setting an appropriate standard for loan-to-deposit ratio in the future. Second, as a result of analyzing the stability of large banks based on 200 billion yuan of bank assets, it was estimated that the stability of large banks was lower. As large banks are likely to conduct aggressive loan asset management, continuous management of non-performing assets is required in the future. This study will serve as a measure for improving the stability of commercial banks in China by estimating the effect of loan asset management of Chinese commercial banks on financial stability. In particular, by examining the stability of large banks, a strategy for sustainable development of the financial industry is required by diagnosing the weaknesses of large banks.