• Safety and Health at Work
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• v.14 no.4
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• pp.406-414
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• 2023

Background: This study examined age-group differences in the rate, severity, and cost of injuries among construction workers to support evidence-based worker safety and health interventions in the construction industry. Methods: Ohio workers' compensation claims for construction workers were used to estimate claim rates and costs by age group. We analyzed claims data auto-coded into five event/exposure categories: transportation incidents; slips, trips, and falls (STFs); exposure to harmful substances and environments; contact with objects and equipment (COB); overexertion and bodily reaction. American Community Survey data were used to determine the percentage of workers in each age group. Results: From 2007-2017, among 72,416 accepted injury claims for ~166,000 construction full-time equivalent (FTE) per year, nearly half were caused by COB, followed by STFs (20%) and overexertion (20%). Claim rates related to COB and exposure to harmful substances and environments were highest among those 18-24 years old, with claim rates of 313.5 and 25.9 per 10,000 FTE, respectively. STFs increased with age, with the highest claim rates for those 55-64 years old (94.2 claims per 10,000 FTE). Overexertion claim rates increased and then declined with age, with the highest claim rate for those 35-44 years old (87.3 per 10,000 FTE). While younger workers had higher injury rates, older workers had higher proportions of lost-time claims and higher costs per claim. The total cost per FTE was highest for those 45-54 years old ($1,122 per FTE). Conclusion: The variation in rates of injury types by age suggests that age-specific prevention strategies may be useful.

• Journal of Distribution Science
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• v.15 no.8
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• pp.47-54
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• 2017

Purpose - According to agency theory, managers have incentives to adjust firm revenues to meet earnings expectations or delay bad news disclosure because of performance-based compensation and their reputation in the market. When the bad news accumulates, stock prices fail to reflect all available information. Thus, market prices of stocks are higher than their intrinsic value. After all, bad news crosses the tipping point, it comes out all at once. That results in stock crashes. Auditors can decrease stock crash risk by reducing agency costs through their informational role. Especially, stock price crash risk is expected to be lower for firms adopting high-quality audits. We focus on distribution and service industry to examine the relation between audit quality and stock price crash risk. Industry specialization and auditor size are used as proxies for auditor quality. Research design, data and methodology - Our sample contains distribution and service industry firms listed in KOSPI and KOSDAQ during a period of 2004-2011. We use a logistic regression to test whether auditor quality influences crash risk. Auditor quality was measured by industry specialist auditor and Big4 / non-Big4 dichotomy. Following the approach in prior researches, we use firm-specific weekly returns to measure crash risk. Firms experiencing at least one stock price crash in a specific week during year are classified as the high risk group. Results - The result of analyzing 429 companies in distribution and service industry is summarized as follows: Above all, it is shown that higher audit quality has a significant negative(-) effect on the crash risk. Crash risk is alleviated for firms audited by industry specialist auditors and Big 4 audit firms. Therefore, our results show that hypotheses are supported. Conclusions - This study is very meaningful as the first study which investigated the effects of high audit quality on stock price crash risk. We provide evidence that high-quality auditors reduce stock price crash risk. Our finding implies that the risk of extreme losses can be reduced through screening of high-quality auditors. Therefore investors and regulators may utilize our findings in their investment and rule making decisions.

• Journal of the Korean Association of Geographic Information Studies
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• v.19 no.4
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• pp.186-198
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• 2016

HPAI(Highly Pathogenic Avian Influenza) is a contagious animal disease that spreads rapidly by diffusion after the first occurrence. The disease has brought tremendous social costs and economic losses. KAHIS (Korea Animal Health Information System) is the integrated system for supporting the task of preventing epidemics. They provide decision-support information, recording vehicle visiting times and facility location, etc., which is possible by enforcing registration of all livestock related facilities and vehicles. KAHIS has accumulated spatial and temporal information that enables effective tracing of potential disease trajectories and diffusion through vehicle movements. The contact network is created utilizing spatial and temporal information in KAHIS to inform facility connection via vehicle visitation. Based on the contact network, it is possible to infer spatial and temporal mechanism of disease spread and diffusion. The study objective is to empirically demonstrate how to utilize primary spatial and temporal information in KAHIS in the form of the contact network. Based on the contact network, facilities with the possibility of infection can be pinpointed within the potential spatial and temporal extent where the disease has spread and diffused. This aids the decision-making process in the task of preventing epidemics. By interpreting our demonstration results, policy implications were presented. Finally, some suggestions were made to comprehensively utilize the contact network to draw enhanced decision-support information.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.5
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• pp.257-265
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• 2020

Parts obsolescence is a component type, in which raw materials or parts that make up a weapons system, are developed and produced according to demand, but they age due to changes in technology or market conditions. The weapon system equipment currently being used by the military is having difficulty in procurement, maintenance, and operation because of the obsolescence of parts. Parts obsolescence during the life cycle of a weapons system affects not only the combat readiness of the military but also the economic loss of material, parts, and equipment manufacturers and suppliers. On the other hand, advanced technology has reduced the life span of electronic components that make up the weapons system. In addition, because of the nature of the weapons system, the obsolescence of components takes decades from development to disposal, which has a serious adverse effect on equipment readiness and life cycle costs. Therefore, it is necessary to manage systematically the parts obsolescence from development until the disposal of the weapons system equipment. This study examined the system of component control in developed countries to present a proper management plan for local situations and propose development plans for the early settlement of component control.

• Journal of Information Technology and Architecture
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• v.11 no.1
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• pp.1-10
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• 2014

From 2004 to 2013, the annual investment for the ICT sector in Korea amounted to about 3.2 trillion won. Depending on whether the government policy allowed for budget increases and/or decreases, this impacted the investment in the ICT sector. In particular, the fixed costs of operation and maintenance lead to a reduced chance for a new potential demands in IT programs. Even though a situation may exist that there are insufficient funds available, there is a need for building a sustainable long-term IT investment management system. The purpose of this study is to conduct basic research for the arrangement of preparation to meet IT needs required in the public sector. For this, this paper introduces the concept of IT Investment Management based on prudent forecasting. After both foreign and domestic relevant cases are reviewed, implications will be derived from the aforementioned cases. Through this process, the direction of IT Investment Management based on forecasting for the IT projects decision making will be suggested. These research results could be used for helping to develop better policies and a more efficient management of the public sector IT budget.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.193-197
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• 2016

The performance of Precision Guided Missiles is estimated by using hit probability only, which is calculated by hits against total amounts of fires in current domestic live-fire tests. It has a limitation in judging the performance of all produced Precision Guided Missiles by using the calculated hit probability according to the result of live-fire test, because the overall characteristics of the produced Precision Guided Missiles are not considered. In other words, a method is needed to estimate the confidence level which is more reliable than simply calculated hit probability according to the result of live-fire test for guaranteeing the hit probability of Precision Guided Missiles by certain level, which is already being operated or produced. This paper introduces a method to estimate the confidence level of Precision Guided Missiles by minimum live-fire tests using Hypergeometric distribution and Bayes' rule suitable for the characteristics of Precision Guided Missiles, which are small production, high costs and unable to check whether the missile hits the target or not before the live-fire tests. Also, this paper suggests a reasonable confidence level for showing the performance of the Precision Guided Missiles using the results of live-fire tests and domestic and foreign literature, when the result of live-fire tests will be decided.

• The Journal of Fisheries Business Administration
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• v.18 no.1
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• pp.37-57
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• 1987

This article discussed the characteristics of several Pareto-optimal incentive contracts between owner and labor, more specifically, four situations: reporting output jointly observable by labor ana owner; reporting both output and effort; incorporating other endogenous elements (like capital) that affect the production process and Pareto-optimal fee schedules; and ascertaining the effects of private pre-decision information private- decision information, and per-contact informational asymmetries. Also presented were several extensions of the basic contractual model, and the different components of agency costs associated with labor-owner contractual relations. In a single-period model, the agency problem exists because the uncertainty prevents the owner from using the cash flow to determine unambiguously the labor's action. Holmstrom(1979) suggests that "when the same situation repeats itself over time, the effects of uncertainty tend to be reduced and dystunctional behavior is more accurately revealed, thus alleviating the problem of moral hazard. " Under these conditions, if the labor selects the first-best level of effect in each period, the cash flow will be independent and identically distributed over time. As the number of periods increases, the variance of the labows average output, if he selects the first-best level of effort in each period, gets smaller. Note that for this diversification effect to occur, it is necessary that the owner evaluate the labor's effort over the entire history of his employment, rather than evaluate each period's performance separately. Radner(1980) and Rubinstein and Yaari(1980) consider the extreme case in which there are an infinite number of observations. They show that the owner can eventually detect and systematic shirking on the part of the labor by comparing the labor's average output with what would be expected if the labor had been selecting the first-best level of effort in each period. In a dynamic model with incentive problems we have demonstrated that the labor's second-period compensation will depend on his first-period performance. This allows the owner to diversify away some of the uncertainty surrounding the labor's actions. In addition, this allows the owner to smooth the labor's income over time by spreading the risk of the first-period outcome over both periods. At least some unexplored avenves in this area invite future accounting research: situations where owner has different incompatible objectives and negotiates a contract with labor; circumstances in which owner deals with multiple objectives and negotiates contracts with several labors simultaneously; the value of costly accounting information systems and communication in establishing, Pareto-optimal incentive contracts, and the value and effects of inside information, Thorough theoretical or empirical research on each of these topics not only would increase our knowledge about the role and significance of accounting information but could also provide explanations of the inherent differences among various organizations and in their economic behavior. behavior.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.3
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• pp.390-398
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• 2020

To solve the problem of frequent component failure in guided weapons, a process of component failure in developed countries was investigated and analyzed. The suitability of component control, including risk assessment, analysis of operational impact, and the establishment of response measures, was also demonstrated. In addition, the economic effects of component control were presented by estimating the costs incurred if component control is performed in advance, after-sales, and non-management. DMSMS problems refer to losses or impending losses of an item, raw material, or software manufacturer or supplier. A problem with the discontinuation of parts occurs when the manufacturer or supplier ceases to produce and support the necessary parts, materials, or software, or when the supply of raw materials is no longer possible. Hence, it is important to recognize that failure to all parts of the system can occur.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.25 no.2
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• pp.134-145
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• 2015

Objectives: An objective of this study was to perform a risk assessment and social cost-benefit analysis for revising permissible exposure limits for seven substances: Nickel(Insoluble inorganic compounds), benzene, carbon disulfide, formaldehyde, cadmium(as compounds), trichloroethylene, touluene-2,4-diisocyanate. Materials and Methods: The research methods were divided into risk and hazard assessment and cost-benefit analysis. The risk and hazard assessment for the seven substances consists of four steps: An overview of GHS MSDS(1st), review of document of ACGIH's TLVs (2nd), comparison between international occupational exposure limits and domestic permissible exposure limits(3rd), and analysis of excess workplace and excess rate for occupational exposure limits based on previous work environment measurement data(4th). Total cost was estimated using cost of local exhaust ventilation, number of excess workplace and penalties for exceeding a permissible exposure limit. On the other hand, total benefit was calculated using the reduction rate of occupational disease, number of workplaces treating each substance and industrial accident compensation. Finally, the net benefit was calculated by subtracting total cost from total benefit. Results: All the substances investigated in this study were classified by CMR(Carcinogens, Mutagens or Reproductive toxicants) and their international occupational exposure limits were stricter than the domestic permissible exposure limits. As a result of excess rate analysis, trichloroethylene was the highest at 11%, whereas nickel was the lowest at 0.5%. The excess rates of all substances except for trichloroethylene were observed at less than 10%. Among the seven substances, the total cost was highest for trichloroethylene and lowest for carbon disulfide. The benefits for the seven substances were higher than costs estimated based on strengthening current permissible exposure limits. Thus, revising the permissible exposure limits of the seven substances was determined to be acceptable from a social perspective. Conclusions: The final revised permissible exposure limits suggested for the seven substances are as follows: $0.2mg/m^3$ for nickel, 0.5 ppm(TWA) and 2.5 ppm(STEL) for benzene, 1 ppm(TWA) for carbon disulfide, $0.01mg/m^3$(TWA) for cadmium, 10 ppm(TWA) and 25 ppm(STEL) for trichloroethylene, 0.3 ppm(TWA) for formaldehyde, and 0.005 ppm(TWA) and 0.02 ppm(STEL) for toluene diisocynate(isomers).

• Journal of the Korea Society for Simulation
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• v.24 no.1
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• pp.25-34
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• 2015

It is necessary for us to undergo trial and error for eliciting the rational requirement of the acquisition of weapon systems, but the M&S is general approach due to costs and risk of the development. In addition to the acquisition of weapon systems, M&S is extensively employed in the analysis and the training of developed weapon systems. The ADD (Agency for Defense Development) has developed DEVS integrated development environment (QUEST) that provides M&S general ground technique composed of simulation model implementation services, simulation result analysis services, and simulation interface services. This paper describes the interface architecture and the implementation of torpedo target detection section interface simulation system using QUEST. The torpedo target detection section interface simulation system is composed of torpedo target detection section which calculates a result of target detection and the QUEST scenario generator which provides simulation scenario for performance test of the torpedo target detection section. The interface architecture of torpedo target detection section interface simulation system is designed to verify the interface and performance of the torpedo target detection section by linking with the QUEST scenario generator.