• The Journal of the Korea Contents Association
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• v.18 no.7
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• pp.527-535
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• 2018

This study examines how the implementation of the Normalization policy of public institutions aimed at reducing debt affects accounting conservatism in public corporations. In particular, we analyze the general behavior of accounting conservatism based on debt ratio, and analyze whether the policy has changed this behavior of conservatism. Empirical findings are summarized as following. We show that debt ratios are positively associated with conservatism, consistent with the result for the private corporations. This result means that public corporations increase their conservatism as their debt ratios increase. However, no significant effect is found in this relationship after the implementation of the policy. This finding implies that the implementation of Normalization policy is not a factor that alters the conservative accounting practices of public corporations. This suggests that the recent debt reduction performance of public corporations is irrelevant to conservatism and is the result of the actual process of normalization of management. The results documented in this paper provide an important empirical evidence for evaluating the performance of the government policy at the present time when the debt reduction policy of public institutions is viewed more important than ever.

• Proceedings of the Safety Management and Science Conference
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• 2010.04a
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• pp.285-292
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• 2010

최근 10여년간 대한민국의 부채 증가원인에 대해 분석하고, 자료분석을 통하여 문제해결기법을 이용하여 해결방안에 대해 연구하고자 한다. 주요 경제지표와 국가부채의 증가 등에 대한 상관관계를 분석하고, 주요 문제에 대한 대안을 제시하고자 한다. 해결방안으로는 문제해결 프로세스를 이용하여 앞으로 5년간 부채감소를 위한 방법론과 구체적인 실행계획(action plan)에 대한 제시를 목표로 한다.

• Journal of Cadastre & Land InformatiX
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• v.45 no.1
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• pp.75-97
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• 2015

Recently public institutions' debt is growing therefore it became an important issue to the level that the government concerns about the possibility of financial burden to reduce the debt. Especially debt of public enterprises in metropolitan areas was in a serious state where debt in late 2013 was 43.2 trillion, which takes approx. 58.4% of 73.9 trillion of debt of all local public enterprises. Sound financial state of local public enterprises is important to public enterprises in metropolitan areas and it may affect seriously financial stability of local governments when public enterprises have financial problems. However, land supply business to form local industrial complexes or local demand for development of public rental housing business always exist; and vitalizing local economy and creating jobs through these businesses are very necessary to develop the areas. However, for local economic development, industirial land business and public rental housing business are needed. In this study, Gwangju Metropolitan City Corporation Ltd is used as a case study to evaluate the local public financial soundness via debt management assessment i.e.(using) the feasibility analysis in the urban development and housing development. As an improvement measure following the result of analysis, for the enhancement of financial soundness of urban innovation corporation, the government and local government shall evaluate and differentiate market demand, price competitiveness, and infrastructure of new town land development project to improve accuracy of project feasibility analysis. Another important insight is that there should be local government-centered management of liabilities of the local government and local public enterprises with the integrated liability management system to reduce the liability of the corporation and solve the issue of debts for local government. This study is significant in that it has analyzed cases from the theoretical aspect to secure financial soundness of national and local public enterprises.

• Proceedings of the Korea Water Resources Association Conference
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• 2016.05a
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• pp.75-75
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• 2016

2002년 아르헨티나발 글로벌 경제위기로 Suez Environnement의 수익성은 크게 악화되어 그 손실 규모가 약 21억 5천만 유로에 이르게 됩니다. 이에 Suez Environnement는 수익성 중심의 실리 경영을 위하여 실행계획을 수립 추진하였고, 그 성과는 성공적 이었습니다. 2002년 7.6%이었던 자본수익률(ROCE: Return on Capital Employeed)이 2006년 13.0%까지 상승한 것입니다. 그리고 2015년에는 서비스 인구 기준 글로벌 제1의 물기업으로 성장하였습니다. 다음 그림은 Suez Environnement의 실지 중심형 실행계획을 보여주고 있습니다. 이에 본 논고에서는 2015년 글로벌 물기업 순위 1위를 차지한 Suez Environnement의 성장 과정을 살펴봄으로써 그 시사점을 고찰하였습니다.

• Journal of Cadastre & Land InformatiX
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• v.44 no.2
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• pp.193-207
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• 2014

The purpose of this study is the issue of public institutions and the financial metrics improve enforcement, public institutions through an integrated management plan for the research is to increase the efficiency of public finances is the purpose of this study. In this paper, the financial operations of public institutions in the five issues (evaluation index system, financial management control framework, Private/Public Sector management, public finance law/institutions, government budget support management) is presented. Issues and a variety of public agencies on how to improve this, this paper proposes the following. the participation of Congress Control Tower(Public Finance Policy Committee )is installed.

• Journal of the Economic Geographical Society of Korea
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• v.15 no.4
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• pp.534-549
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• 2012

This study analyzed the effects of housing wealth on the balance accounts of elderly households with an age of over 60 facing the asset decumulation period, capitalizing upon an ordered logit model for the 2011 household finance survey data. Out of some variables representing personal and social characteristics, the age and waged worker variables had a positive effect, but the number of household, low education level, living in the apartment and capital region variables negatively affected the balance accounts of elderly households. Some variables reflecting economic wealth and financial strategies such as the attitude of risk-taking, ordinary income and the ratio of financial assets had a positive impact, but other variables such as DSR did a negative one on the balance accounts of the elderly households. The ownership of housing wealth variable positively, but the ratio of housing assets variable negatively affected the balance accounts of the elderly households, which could be derived from the duality of housing as both consumption goods and assets. However, the ownership of other real estates and the ratio of them in the total assets variables had a negative impact on the balance accounts of the elderly households. Furthermore, since the financial asset-debt ratio worsened the balance accounts of the elderly households with both housing and other real estates, it is implied that the purchase of real estates with excessive bank loans could make them dangerous.

• Management & Information Systems Review
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• v.34 no.1
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• pp.211-225
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• 2015

This paper investigate the impact of insolvency cause(internal insolvency cause, external insolvency cause) on firms' turnaround strategies(strategy of improving efficiency, strategy of creating revenue) and examines the impact of firms' turnaround strategies on firms' turnaround performance(debt ratio, sales growth ratio). For this study, a survey was conducted among administrative assistants and four hypotheses were verified. The findings of this research are summarized as follows: First, internal insolvency cause had a positive effect on strategy of Improving efficiency(expense reduction, asset reduction), but external insolvency cause had a positive effect on strategy of creating revenue(product/service reduction, product/service expansion). Second, strategy of improving efficiency positively effect on decreasing debt ratio, but strategy of creating revenue positively effect on the sales growth ratio. These results show that turnaround strategies different across the corporate insolvent cause, and turnaround performance also different across the corporate turnaround strategy.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.489-522
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• 2015

According to Law on Allocation and Trading of GHG Allowances of 2013 in Korea as well as the 2014 National Master Plan for Korean Emissions Trading System, the System should be designed to minimize the change in the market positions of the affected firms. In this paper, we investigate how that principle might become ineffective by the ways of distributing allowances and applying different accounting methods using a Cournot duopoly model. Although the way of allocating allowances freely to firms combined with accounting them for having no values would minimize their market positions, it would not the most cost-effective way of GHG reduction since it does not provide financial market with accurate informations.