• Title/Summary/Keyword: Agency Problems

Search Result 1,151, Processing Time 0.031 seconds

A Study on the Effect of Agency Problems in the Determination of Capital Structure (대리문제가 자본구조에 미치는 효과에 관한 연구)

  • 김형준;황동섭
    • Journal of Korean Society of Industrial and Systems Engineering
    • /
    • v.18 no.36
    • /
    • pp.365-370
    • /
    • 1995
  • In recent years, there have been attempts to explain firms' capital structure based upon the agency theory which considers agency problems arising due to ownership structure. Agency theory starts from the coctractual relationship (explicit or implicit) between principals and agents. Since uncertainty exists in real world and information is distributed asymmetrically, there are conflicts between principals and agents. The objectives of this study are to analyze, based upon agency theory, factors which are expected to affect firms' capital structure and to test empirically the relevance of agency cost hypothesis about the determination of capital structure, For these purposes, this paper carried out multiple regression in order to examine whether the factors of agency costs affect significantly the determination of capital structure. The results of empirical analysis are summarrized as follows; First, insider-equity ration has been negatively correlated with capital structure. Second, growth opportunity variabless has been insignificant coefficients with capital structure.

  • PDF

Relationship between Comorbid Health Problems and Musculoskeletal Disorders Resulting in Musculoskeletal Complaints and Musculoskeletal Sickness Absence among Employees in Korea

  • Baek, Ji Hye;Kim, Young Sun;Yi, Kwan Hyung
    • Safety and Health at Work
    • /
    • v.6 no.2
    • /
    • pp.128-133
    • /
    • 2015
  • Background: To investigate the relationship between musculoskeletal disorders and comorbid health problems, including depression/anxiety disorder, insomnia/sleep disorder, fatigue, and injury by accident, and to determine whether certain physical and psychological factors reduce comorbid health problems. Methods: In total, 29,711 employees were selected from respondents of the Third Korean Working Conditions Survey and categorized into two groups: Musculoskeletal Complaints or Musculoskeletal Sickness Absence. Four self-reported health indicators (overall fatigue, depression/anxiety, insomnia/sleep disorder, and injury by accident) were selected as outcomes, based on their high prevalence in Korea. We used multiple logistic regression analysis to determine the relationship between comorbid health problems, musculoskeletal complaints, and sickness absence. Results: The prevalence of musculoskeletal complaints and musculoskeletal sickness absence due to muscular pain was 32.26% and 0.59%, respectively. Compared to the reference group, depression/anxiety disorder and overall fatigue were 5.2-6.1 times more prevalent in the Musculoskeletal Complaints Group and insomnia/sleep disorder and injury by accident were 7.6-11.0 times more prevalent in the Sickness Absence Group. When adjusted for individual and work-related physical factors, prevalence of all four comorbid health problems were slightly decreased in both groups. Conclusion: Increases in overall fatigue and depression/anxiety disorder were observed in the Musculoskeletal Complaints Group, while increases in insomnia/sleep disorder and injury by accident were observed in the Sickness Absence Group. For management of musculoskeletal complaints and sickness absence in the workplace, differences in health problems between employees with musculoskeletal complaints and those with sickness absence as well as the physical and psychological risk factors should be considered.

Research and Development Status of Dog-Horse Robot (견마형로봇 연구개발 현황)

  • Park, Yong-Woon;Chae, Jeong-Sook
    • Proceedings of the IEEK Conference
    • /
    • 2008.06a
    • /
    • pp.127-128
    • /
    • 2008
  • Research and development status of Dog-Horse robot is presented based on the critical technology issues which generates severe problems or hard trade-offs to meet the general requirement of system and new technologies. This paper covers from architectural problems to specific technology to overcome the operational requirement. Technology development based on operation requirement derived new research challenges as well as advanced development for system adaptation.

  • PDF

A simple iterative independent component analysis algorithm for vibration source signal identification of complex structures

  • Lee, Dong-Sup;Cho, Dae-Seung;Kim, Kookhyun;Jeon, Jae-Jin;Jung, Woo-Jin;Kang, Myeng-Hwan;Kim, Jae-Ho
    • International Journal of Naval Architecture and Ocean Engineering
    • /
    • v.7 no.1
    • /
    • pp.128-141
    • /
    • 2015
  • Independent Component Analysis (ICA), one of the blind source separation methods, can be applied for extracting unknown source signals only from received signals. This is accomplished by finding statistical independence of signal mixtures and has been successfully applied to myriad fields such as medical science, image processing, and numerous others. Nevertheless, there are inherent problems that have been reported when using this technique: instability and invalid ordering of separated signals, particularly when using a conventional ICA technique in vibratory source signal identification of complex structures. In this study, a simple iterative algorithm of the conventional ICA has been proposed to mitigate these problems. The proposed method to extract more stable source signals having valid order includes an iterative and reordering process of extracted mixing matrix to reconstruct finally converged source signals, referring to the magnitudes of correlation coefficients between the intermediately separated signals and the signals measured on or nearby sources. In order to review the problems of the conventional ICA technique and to validate the proposed method, numerical analyses have been carried out for a virtual response model and a 30 m class submarine model. Moreover, in order to investigate applicability of the proposed method to real problem of complex structure, an experiment has been carried out for a scaled submarine mockup. The results show that the proposed method could resolve the inherent problems of a conventional ICA technique.

Achievements, Problems, and Future Direction of the Quality Control Program for Special Periodic Health Examination Agencies in Republic of Korea

  • Won, Yong Lim;Ko, Kyung Sun;Park, Jae Oh;Choi, Yoon jung;Lee, Hyeji;Sung, Jung-min;Lee, Mi-young
    • Safety and Health at Work
    • /
    • v.10 no.1
    • /
    • pp.125-129
    • /
    • 2019
  • The ultimate goal of the quality control program for special periodic health examination agencies is to diagnose the health condition of a worker correctly, based on accurate examination and analysis skills, leading to protect the worker's health. The quality control program on three areas, chemical analysis for biological monitoring since 1995, and pneumoconiosis, audiometric testing since 1996, has contributed to improve the reliability of occupational health screenings by improving the issues including standardization of testing methods, tools, diagnostic opinions, and reliability of analysis for biological monitoring. It has contributed to improving the reliability of occupational health monitoring by rectifying the following issues associated with previous monitoring: absence of standardized testing methods, testing tools that are not upgraded, mismatching diagnostic opinions, and unreliable results of biological specimen analysis. Nevertheless, there are issues in need of further improvement such as lack of expertise or the use of inappropriate method for health examination, and passive and unwilling participation in the quality control. We suggested solutions to these problems for each area of quality control program. Above all, it is essential to provide active support for health examiners to develop their expertise, while encouraging all the health screening agencies, employers, and workers to develop the desire to improve the system and to maintain the relevance.

Security Evaluation Criteria for Firewalls in Kirea

  • Lee, Cheol-Won;Hong, Ki-Yoong;Kim, Hak-Beom;Oh, Kyeong-Hee;Kwon, Hyun-Jo;Sim, Joo-Geol
    • Journal of the Korea Institute of Information Security & Cryptology
    • /
    • v.8 no.3
    • /
    • pp.63-78
    • /
    • 1998
  • Recently, to use the evaluated firewall is recognized as a solution to achieve the security and reliability for government and organizarions in Korea. Results of firewall evaluation using ITSEC(Information Technology Security Evaluation Criteria) and CCPP(Common Criteria Protection Peofile)have been announced. Because there are problems to apply ITSECor CCPP for the firewall evaluation in korea environment, korea government and korea Information security Agency (KISA) decided to develop our own security dvaluation critrtia fir firewalls.As a result of the efforts, Korea firewall security evaluation criteria has been published on Feb. 1998. In this paper, we introduce Korea security evaluation criteria for firewalls. The ceiteria consists of functional and assurance requirements that are compatible with CC Evaluation Assurance Levels(EALs)

The Study on the Grade System and the Grading Criteria of Ammunition Stockpile Test Procedures (ASTP 등급체계와 평가기준에 대한 연구)

  • Yoon Keun-sig;Kwon Tag-man;Park Byung-chan
    • Journal of the Korea Institute of Military Science and Technology
    • /
    • v.7 no.4 s.19
    • /
    • pp.26-35
    • /
    • 2004
  • The ASTP is the standard of the assessment ASRP that is monitoring the performance, reliability and safety characteristics of the ammunition items. The ASTP used in domestic now has applied to US Army's grade system and grading criteria so that it cause some problems. To resolve these problems of ASTP, we surveyed both the quality level of production and the field management of ammunition, which compared with grade system and classification criteria. As a result of study, we changed grade system from four steps to three steps and applied the Korean Military Specifications and the Malfunction Criteria to the classification criteria of grades. We are looking forward to improving the reliability and effectiveness of ASRP assessment by simplifying grade system and generalizing grading criteria of ASTP.

Design of Adaptive Fuzzy Sliding Mode Controller based on Fuzzy Basis Function Expansion for UFV Depth Control

  • Kim Hyun-Sik;Shin Yong-Ku
    • International Journal of Control, Automation, and Systems
    • /
    • v.3 no.2
    • /
    • pp.217-224
    • /
    • 2005
  • Generally, the underwater flight vehicle (UFV) depth control system operates with the following problems: it is a multi-input multi-output (MIMO) system because the UFV contains both pitch and depth angle variables as well as multiple control planes, it requires robustness because of the possibility that it may encounter uncertainties such as parameter variations and disturbances, it requires a continuous control input because the system that has reduced power consumption and acoustic noise is more practical, and further, it has the speed dependency of controller parameters because the control forces of control planes depend on the operating speed. To solve these problems, an adaptive fuzzy sliding mode controller (AFSMC), which is based on the decomposition method using expert knowledge in the UFV depth control and utilizes a fuzzy basis function expansion (FBFE) and a proportional integral augmented sliding signal, is proposed. To verify the performance of the AFSMC, UFV depth control is performed. Simulation results show that the AFSMC solves all problems experienced in the UFV depth control system online.

Problems and Solutions of the Korean Bug Bounty Program (한국 버그 바운티 프로그램의 제도적인 문제점과 해결방안)

  • Park, Hye Sung;Kwon, Hun Yeong
    • Journal of Information Technology Services
    • /
    • v.18 no.5
    • /
    • pp.53-70
    • /
    • 2019
  • As information security becomes more important as the fourth industrial revolution gradually emerges, an efficient and effective way to find vulnerabilities in information systems is becoming an essential requirement of information security. As the point of the protection of current information and the protection of the future industry, the Korean government has paid attention to the bug bounty, which has been recognized for its efficiency and effectiveness and has implemented through the Korea Internet Security Agency's S/W vulnerability bug bounty program. However, there are growing problems about the S/W vulnerability bug bounty program of the Korea Internet Security Agency, which has been operating for about 7 years. The purpose of this study is to identify the problems in Korean bug bounty policies through the characteristics of the bug bounty program, and to suggest the direction of the government's policy to activate the bug bounty like changes in the government's approach utilizing the market.

The Role and Function of the Managing Agency of Presidential Records (대통령기록 관리기구의 기능과 역할)

  • Kwak, Geon-Hong
    • The Korean Journal of Archival Studies
    • /
    • no.4
    • /
    • pp.3-30
    • /
    • 2001
  • It is clearly stated in the current records law that presidential records should be collected and kept. Despite of the significance of this regulation it is also undeniable that there must be some preconditions for the enactment of this legal regulations. First, it needs the compatible device for promoting the production of presidential records. Second, it must be considered that presidential records should be selected and transferred from the Committee for taking over presidency. And last, we are confronted by the problem of establishing presidential archives. After all, from the starting point we should overcome a number of serious problems for the administration of the presidential records. In this article I tried to discuss these problems and to make some suggestions for the solution of these problems. In my opinion, revision of the records law is in some points necessary. Basic principle of management of presidential records must be discussed for the revision and enactment of 'presidential archives and presidential records law'. Just several problems concerning managing agency of presidential records are pointed out here. Presidential records have important historical values. The government must be responsible for the preservation and sound management of them. The citizenship also must support the reform of the records management. It means an open and public discussion on the reform of national records management system.