• 월간 기계설비
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• s.265
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• pp.30-32
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• 2012

국토해양부는 지난 6월 17일 정부과천청사에서 제6차 건설산업 공생발전위원회를 개최하고 건설산업기본법을 위반한 건설업체에 대해 보다 명확한 기준으로 재제처분이 이뤄지도록 '건설업체 행정제재 합리화방안'을 제시했다. 또한 공제조합 보증금 개선방안도 제시됐다. 건설업체가 부도 파산 워크아웃 등으로 계약이행이나 하도급대금 지급에 어려움을 겪는 경우 하도급대금지급 보증금을 15일 내 지급 완료토록 개정키로 한 것이다. 이러한 개선은 대한설비건설협회가 건설산업 공생발전위원회를 통해 하도급대금 지급보증제도 개선을 촉구한 결과이다.

• 해운
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• no.1 s.59
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• pp.19-22
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• 2009

사상최고의 호황기와 최악의 침체기를 동시에 경험했던 세계 해운업계는 2009년에 글로벌 금융위기가 어떻게 전개될 것인지에 대해 촉각을 곤두세우고 있다. 지난해 9월 미국 리먼브러더스의 파산으로 야기된 글로벌 금융위기가 전세계로 확산되면서 해운시황이 5개월 사이에 최악의 상황으로 곤두박질했기 때문이다. 긍정적인 전망 보다는 부정적인 전망이 우세한 가운데 포스코경영연구소에서‘글로벌 금융위기 전개방향 및 파급영향’을 분석했다. 다음은 그 내용을 정리한 것이다.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.387-388
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• 2022

세계 주요 글로벌 해운·항만의 산업 트랜드는 COVID-19 바이러스 확산, 글로벌 기업들의 GVC 재편, IMO의 환경규제 강화 등으로 인해 급속도로 변화하고 있다. 이러한 환경변화 속에서 부산항은 2014년 글로벌 컨테이너 항만순위 5위였으나 2015년 한진해운 파산 이후 6위로 떨어졌다.

• Proceedings of the Korea Contents Association Conference
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• 2006.11a
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• pp.327-332
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• 2006

Entering legal management, shareholders receive some payment. We call this phenomenon the deviations from absolute priority. This study focuses on incremental effect and determinants of equity to shareholders by wealth transfer from creditors to stockholders in the process of legal management. The main results of this study can by summarized as follows. First, the incremental effect of equity to shareholders is common in the sample of this study. The sample contains 46 non-listed firms that filed for legal management and had confirmed their reorganization plans. Second, the results of the regression model analyzing the determinants of incremental equity to shareholders in legal management show that it is negative related to the solvency(total debt/total asset), firm size, and weight of claims for secured creditors and banks significantly. but corporate reorganization period(from filing to confirmation)are not significant.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.3 no.4
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• pp.325-332
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• 2002

In the process of designing pareto optimal insurance contract, it is necessary to assume that insurance contract conditions are endogenous to build a model. The expected utility, the non-expected utility and the state-dependent utility function can be applied as a insurance decision making principle. The insurance costs may have the linear, convex, and concave ralationship with the indemnity schedule. However, the sunk cost and fixed cost must be recognized. The deductible which decides whether an insurance contract to be a full or partial insurance contract can exist in the forms of straight deductible or diminishing deductible. Indeciding the level of deductible, the types of the insurance and the risks to be insured should be the deciding factors. Especially for recall insurance, there is relatively high chance that the recalling company being bankrupt. Therefore, the possibility of bankrupcy should be the considering factor in deciding the policy limit. The existence of the incomplete market and uninsurable background risk should be understood as restricting conditions of the pareto-optimal insurance contract.

• Journal of Environmental Policy
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• v.5 no.3
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• pp.1-24
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• 2006

As the social responsibility of corporations becomes more important, recently, many corporations have made constant efforts to preserve natural environment. Environmental investments had been traditionally thought as cost factors and sources of negative effects on a firm's financial performances. In this study, we explore the relation of financial and environmental performances of Korean corporations. We use default probability as well as ROE as indicators of financial performances. We find that there is positive correlation between ROE and environmental performance, and negative correlation between default probability and environmental performance. This implies that Korean corporations should recognize environmental investment as means of improving corporate value.

• The Korean Journal of Applied Statistics
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• v.20 no.3
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• pp.573-584
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• 2007

A well estimated probability of default is most important for constructing a good credit scoring process. The maximum expected utility (MEU) model has been suggested as an alternative of the traditional logistic regression model. Because the MEU model has been constructed using financial data arising from North America and European countries, the MEU model may not be suitable to Korean private firms. Thus, we propose a Korea-specific MEU model by estimating the parameters involved in kernel functions. This Korea-specific MEU model is illustrated using 34,057 private firms to show the performance of the MEU model relative to the usual logistic regression model.

• The Journal of the Korea Contents Association
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• v.6 no.12
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• pp.244-252
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• 2006

The main results of this study can by summarized as follows. First, the incremental effect of equity to shareholders is common in the sample of this study. The sample contains 46 non-listed firms that filed for legal management and had confirmed their reorganization plans. Second, the results of the regression model analyzing the determinants of incremental equity to shareholders in legal management show that it is negative related to the solvency(total debt/total asset), firm size, and weight of claims for secured creditors and banks significantly. But corporate reorganization period(from filing to confirmation)are not significant.

• The Korean Journal of Financial Management
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• v.4 no.1
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• pp.45-58
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• 1988

This paper is to examine the relevance of banarptcy Costs (BC) to Capital Structure with three related purposes: whether or not BC are trival,, a proxy methodology for estimating BC, the present value of expected BC vs tax benefits' trade off. For these purposes, the samples includes 19 industrial firms which went bankrupt over period 1970-78 and secondly seven large Companies which went bankrnpt recently in the U.S. The results are quite strong that BC are not trival. In many cases they exceed 20% of the value of the firm measured just prior to bankruptcy. Direct BC are explicit and administrative costs paid by debtor in reorganization/liqaidation process. Indirect BC are essentially defined as unexpected losses and estimated in two way: a regression method and security analyst's forcasts. The present value of expected BC for many of the bankrupt firm is found to exceed the present value of tax benefits from leverage. This implies that firms were overleveraged and that a potentially important ingredient in the discussion of optimum capital structure is indeed the BC factor. Therefore, BC are relevant to the cost of capital structure decision and should he considered seriously.

• The Korean Journal of Financial Management
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• v.14 no.3
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• pp.263-287
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• 1997

본 연구에서는 국내은행의 위험도가 반영된 보험요율을 Merton에 의해 처음으로 제시된 예금보험요율 결정모형을 이용하여 추정하였다. 실증분석 결과에 의하면 표본은행간의 예금보험요율의 추정치에는 횡단면적 차이가 있는 것으로 나타나 표본기간 중 여러 은행들이 공격적 경영을 취함으로써 은행파산의 위험도를 높이는 도덕적 위해의 문제를 발생시켰음을 보여주고 있다. 본 연구는 상관관계 분석을 통하여 추정된 보험요율이 Moody's사의 국내은행에 대한 장기신용등급과 재무건전도등급, 그리고 은행규모, 수익성, 자본적정성, 자산건전성을 나타내는 지표들과 어떠한 관계에 있는 지를 살펴보았다. 분석결과에 의하면 Moody's사의 국내은행에 대한 장기신용등급, 재무건전도등급과 보험요율 사이에는 통계적으로 유의한 관계가 있는 것으로 나타나 추정된 보험요율이 이들 지표와 마찬가지로 위험도를 적절히 반영하는 것으로 나타났다. 또한 보험요율은 은행규모, ROA, ROE들과는 음의 관계가 있는 것으로 나타났으나, BIS기준 자기자본비율, 부실여신비율과는 양의 관계가 있는 것으로 나타났다. 그러나 자기자본비율이나 부실여신비율이 은행의 신용도나 위험도를 적절하게 반영하지 못하는 것으로 나타남으로써 이들 비율에 대한 회계방식의 개선이 요구됨을 본 연구의 결과는 보여주고 있다.