• Journal of Digital Convergence
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• v.19 no.12
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• pp.175-182
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• 2021

Focusing on the recently announced "KOSPI 200 ESG Index," this study intends to examine whether the "KOSPI 200 ESG Index" has any relevance to stock prices. Specifically, it was empirically analyzed whether companies included in the KOSPI 200 ESG index showed average abnormal return and cumulative average abnormal return of stock prices due to incorporation into the index. As for the research method, the case study was conducted using the return by the market model using the coefficient estimated by the OLS for the normal expected return. The study results are summarized as follows. First, the initial incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Second, the incorporation of a company into the KOSPI 200 ESG index showed significant positive(+) average abnormal return and cumulative average abnormal return. Through this study, it was confirmed that investors in the market are aware of ESG indicators as non-financial information, not just financial information. In addition, it can be said that the contribution of this study to the fact that investors perceive ESG index as information for investment. This study differs in that it uses the latest ESG index, but at the same time, it has limitations in that the study period is short and the study sample is limited.

• International Area Studies Review
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• v.22 no.2
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• pp.41-59
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• 2018

After global financial crisis, policy makers in major countries tried to find a new bank recovery and resolution policy. The new policy intends to normalize the market not by bail-out approach in which public funds should be provided bankrupt banks, but by market discipline approach in which unsecured creditors take part in liquidation process. Bail-in system is a new and dominant financial policy after crisis period in resolution regimes led by the government administration. This study tries to analyze the relationship between bail-in system and pro-cyclicality. Empirical analysis has been done by taking the basis of the 8 year data from 2008 to 2015, which is selected from financial statistics information system of Korea Financial Supervisory Service. Accounting and financial data are collected from the dataguide 5.0 between 2008 and 2015. Through the analysis, the effect of bail-out system and bail-in system on pro-cyclicality of total loans did not show the statistically significant relationship. However the effect of bail-out system on pro-cyclicality of SME loans showed the statistically significant relationship, meanwhile the effect of bail-in system on pro-cyclicality of SME loans did not show the statistically significant relationship. In conclusion, bail-in system can be useful policy which improves the support and promotion of SMEs.

• Review of Culture and Economy
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• v.20 no.3
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• pp.87-114
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• 2017

The Supply side of performance arts has been pretty much developed since the establishment of ARCO. The development level of the demand side, however, was much lower than that of supply side. This unbalance make it difficult to achieve the goal and to complete the mission of ARCO's assistant to the performance arts. Unlike the existing research for solving this problem, this study suggests the positioning strategy of a new value of performance arts for solving this problem. This positioning is, instead of meeting the experiential and symbolic needs, targeting the functional needs to solve the life problems to be faced with aging, for example, the problems from education, human relationship and health. The new positioning will make the demand for the performance arts belong to the top priority group in the expenditure list of consumers because the perceived concept of performance arts will be changed from the "Wants" consumption to "Should be" consumption like a expenditure of private education for children and that of health problems. Therefore, this new positioning is surely expected that the development of new demand from the new position is pretty much higher than that of present positioning. This study also suggests practical strategies, PR and cross functional management system for the implementation of this new positioning.

• Journal of Climate Change Research
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• v.3 no.4
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• pp.281-291
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• 2012

Forests act as carbon sinks and also improve water resources and biodiversity to climate change. Secure funding, administrative support, and sustainable management systems are essential to conserve forests and to implement international forestry related projects to climate change. Public private partnership (PPP) could be an effective way for forestry sector in developing countries. Awareness analysis should be preceded in order to encourage participation of enterprises for the diversification of funding and the enhancing quality of projects. We conducted a survey targeting more than 129 private enterprises for awareness analysis. As a result, lack of information, complexity of processes and low profit resulted in low interest on forest projects from private enterprises. Improving awareness of recipient countries on forest resources, financial and institutional supports from the public sector, information sharing, performance management and equal partnership between sectors were suggested to encourage PPP in international forestry related projects to climate change.

• Journal of Digital Convergence
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• v.16 no.12
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• pp.185-195
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• 2018

This study aims to explore the development of FinTech industry in Korea by comparing and analyzing the effect of job creation in the FinTech industry in Korea and the US. The industry Input-Output table used in the analysis used WIOD, which is composed of the same industrial classification and monetary unit in both Korea and the US. For the analysis, the FinTech industry is composed of ICT sector and financial sector as one industry. This study also compares the employment creation effect in the ICT sector and the financial sector, in addition to the FinTech industry, in order to distinguish the FinTech industry characteristics of the two countries. As a result of the analysis, when the investment or production of 1 million US dollars was made in the FinTech industry in Korea, the employment inducement effect was 11.33 and the employment inducement effect was 9.47, indicating a total employment creation effect of 20.8 persons. In the United States, the Direct employment effect was 8.07 and the indirect employment effect was 7.72, indicating that the employment creation effect was 15.79. However, as a result of classification by the average employment creation effect of the national economy, Korea 's FinTech industry is classified as indirect employment advantage with a high indirect employment inducement effect and the United States is classified as an employment creation advantage with high both direct and indirect employment inducement effect.

• Journal of Korea Port Economic Association
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• v.35 no.1
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• pp.139-162
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• 2019

In the case of Korea, policy support for shipping companies is limited, and the financial support should address the scale and period of support. Comprehensive measures are needed to boost the chances of reviving the industry. In order to secure competitiveness, the shipping companies need to make continuous efforts, prepare for the future by strengthening environmental regulations, and ensure that they have the ability to be flexible in their responses. The shipbuilding industry witnessed some improvement last year amid severe recession, but reforms are needed to address external and internal structural problems; further, to gain the characteristics of future leading industries, it is necessary to secure core technologies, as well as differentiated and specialized industrial competitiveness among rival countries through joint government intervention and joint R&D investment. Taking these steps will ensure that it has environment-friendly vessels and economic shipbuilding capabilities. The competitiveness of Busan Port should enable the utilization of the geopolitical characteristics of East Asia and contribute to: regional economic revitalization; development of its status as hub port; and securing the position of developed countries in East Asian logistics. For this purpose, it is necessary to establish a strategy to: expand the usability of shipowners/carriers; improve the quality of port operations; improve the portability of the smart system; expand the port of mega-ocean carriers; speed up port operations; and create low-cost ports. The establishment of a network of four countries will also require long-term global linkages. For example, there is a need to establish a logistics network between Eurasia and the European region, which will use the Russian Land Bridge System, as well as that of China.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.9
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• pp.323-332
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• 2019

The purpose of this study is to measure the effects on the regional economy from the Jeju International Wind Ensemble Festival. In order to examine the economic ripple effects of the festival, we examine its impact on the local economy using two regional (Jeju-National) industry-related models based on the 2013 Jeju Region Input and Output Table. We also compare how the Jeju International Wind Ensemble Festival is growing and affecting the regional economy through a comparison between 2017 and 2018. Comparing the results of a production-inducing and value added-effect analysis of the induced industries from investment expenditures for the Jeju International Wind Ensemble Festival, the production-inducing effects increased by 2.1 times-from 9.05 billion won in 2017 to 18.7 billion won in 2018. The value-added effect increased by 2.2 times, from nearly 4.3 billion won in 2017 to nearly 9.2 billion won in 2018. The analysis shows that the Jeju International Wind Ensemble Festival contributes greatly to an income increase for local residents. In order to enhance the effects of the Jeju International Wind Ensemble Festival, it is necessary to use policies that link culture and tourism in Jeju.

• Journal of Digital Convergence
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• v.17 no.8
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• pp.447-452
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• 2019

Modern people are investing a lot of time and economically in their appearance as a means of expressing their aesthetic desires. They have a lot of hair dyes that make up most of their appearance, but their hair damage is serious. Especially, they use hair dyes which are very popular among the hair cosmetics that make up most of their appearance, but their hair damage is serious. The purpose of this study is to investigate the hair tensile strength of hair with oxidative hair dye to induce styling while minimizing hair damage. The results showed that the Max. load, Max. stress, Max. elongation, break load, break stress, break elongation, maximum modulus and tangential modulus according to evaluation interval were significantly different between control and 8N-10N experimental groups. The maximum modulus and tangential modulus for the strain interval did not show tendency to increase or decrease constantly, although there was a difference between the control and experimental group. Therefore this study was conducted to investigate the correlation between hair loss and hair damage through the treatment of high grade oxidative hair dye, which is widely used in ield of industry. We want to provide application data.

• The Journal of the Convergence on Culture Technology
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• v.5 no.1
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• pp.353-360
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• 2019

Trade credit is being used as a price discrimination strategy by the suppliers in order to increase the customer's demand. From the viewpoint of the customer, if delayed payment is allowed for a certain period of time from the supplier, the effect of reducing the inventory carrying cost will positively affect the customer's order quantity. Also, in deriving the economic order quantity(EOQ) formula, it is tacitly assumed that the customer's ordering cost is a fixed cost. However in many business transactions, the customer pays the freight cost for the transportation of his order and so, the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the order size. Therefore, in this study, we analyzed the inventory model which considers that the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the customer's order size when the supplier permits a delay in payments. For the analysis, it is also assumed that inventory is exhausted not only by customer's demand but also by deterioration. Investigation of the properties of an optimal solution allows us to develop an algorithm whose validity is illustrated using an example problem.

• Journal of Digital Convergence
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• v.17 no.5
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• pp.117-125
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• 2019

This study measured inefficiencies of Korean banks with weighted Russell directional distance function, WRDDM, for the years of 2004-2013. Checking contributions of inputs and outputs to these inefficiencies, we found that non-performing loan as undesirable output was the most influential factor. The annual average of inefficiencies of Korean banks was 0.3912, and it consisted of non-performing loan 0.1883, output factors 0.098 except non-performing loan, input factors 0.098. The annual average inefficiency went sharply up from 0.2995 to 0.4829 mainly due to the sharp increase of inefficiency of non-performing loan from 0.1088 to 0.2678 before and after 2007-2008 Global financial crisis. We empirically showed the non-performing loan needed to be considered since it was the most important factor among the influential factors of technical inefficiency such as manpower, total deposit, securities, and non-performing loan. This study had some limitation since we did not control financial environment factor in WRDDM.