• Management & Information Systems Review
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• v.28 no.2
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• pp.113-134
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• 2009

The purpose of this paper is to investigate the relationship between foreign ownership and firm value. Based on the sample of 3,398 firm-year observations in the period of 2000 to 2007, we find evidence that foreign ownership is positively associated with firm value measured by the market-to-book ratio. In addition, we employ simultaneous equation system where both foreign ownership and firm value are treated as endogenous variables. Simultaneous regression models indicate that the foreign ownership affects firm value, but not vice versa. The positive effects of foreign ownership on firm value result from monitoring and disciplining roles played by foreign investors. Many Korean firms have been run by an owner-manager while monitoring provided by institutional equity holders has been limited. Therefore, Korean firms are expected to suffer from more severe agency costs caused by the conflicts of interest between owner-managers and outside investors. Our empirical results support the notion that foreign investors play an important role in enhancing corporate transparency and improving corporate governance.

• The Journal of the Convergence on Culture Technology
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• v.6 no.3
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• pp.91-98
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• 2020

Since disaster-safety accidents cause serious damage to human life and property, preparations and responses have been critically challenged by the country and industry. Recently, the government and industry have recognized its importance and are seeking solutions to the causes of disasters in various ways. If virtual reality technology is actively used, it will be easier to prepare and train for disasters, as the social costs will be reduced. However, academic research on this has not been actively studied. In particular, it seems difficult to seek data that comprehensively analyzes or organizes disaster-safety with virtual reality contents. In this paper, we analyze the current status of domestic and overseas focused on virtual reality disaster/safety contents, examine its characteristics, and point out the direction required for advanced service in the future. To this end, the implications of the numerical data of the accident type have been derived, and the direction of development of public institutions, academic research, and industry have also been investigated. Finally, technical considerations are presented as well.

• Management & Information Systems Review
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• v.34 no.2
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• pp.207-227
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• 2015

This study addresses and examines differences in firm value after tax audits by the Korean Internal Revenue Service. Tax audits can potentially depreciate a firm's value due to the mass cash outflow that often results from the additional tax charges involved. However, tax audits that reveal negative aspects of a business, such as excessive entertainment expenses, fraudulent accounting, or inappropriate business practices, may have positive effects on a firm's value, as the monitoring involved can improve accounting transparency and reduce agency costs. This study shows that there is typically an increase in a firm's value in the year after a tax audit has been conducted, in comparison with the previous year. This result suggests that firm value can increase after a tax audit is conducted, despite the possible value depreciation resulting from a mass cash outflow.

• Land and Housing Review
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• v.7 no.4
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• pp.291-297
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• 2016

Recently, foreign construction companies through the BIM-design have the effect of improving productivity and quality construction. On the other hand, domestic BIM-design is a little depressed because of lack of additional costs and professional personnel problem. The construction industry of recession, as reasons of construction market is downsizing. First must, enabling the design in public institutions, mainly BIM.. Design for BIM the construction sector, as well as an early stage actively introducing and spreading of the performance of him and domestic BIM technology should be able to promote the development. Public institutions in accordance with this study presented measures that can stimulate the BIM design on LH. To that end, the public agency's design were analyzed, and suggested the Improvement and Application of the four aspects for Modular Coordination BIM Design. Also, gradually formulate a "road map for public institutions applied design bim" in order to carry out the plans put forward and presented the expected effect of him. The proposed work was public institutions will be used as a pilot project in Korea Land Housing Corporation.

• Journal of Korean Society for Geospatial Information Science
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• v.19 no.4
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• pp.91-99
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• 2011

With increasing astronomically damage costs caused by frequent and large-sized flood, a hazard map containing comprehensive analysis results such as inundation trace investigation, flood possibility analysis, and evacuation plan establishment for flooded regions is a fundamental measure of non-structural flood prevention. Though an inundation trace map containing flood investigation results occurred by typhoon, rainfall and tsunami is a basic hazard map having close relationship with a flood possibility map as well as a hazard information map, it is often impossible to be produced because of financial deficiency, time delay of investigation, and the lack of maintenance for flood traces. Therefore, this study proposes the accuracy enhancement procedure of inundation trace map with flood damage information and three-dimensional Digital Elevation Model (DEM) for the past frequent flooded regions according to a guideline for inundation trace map of National Emergency Management Agency (NEMA).

• The Korean Society of Law and Medicine
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• v.8 no.2
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• pp.9-35
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• 2007

The Health care program in Korea has now been systemized after 30 years of declaring the inauguration of the national health insurance system by the current government. The national health care covering all Korean citizens was achieved after 12 years of implementing the national health insurance and the health care program since 1977. Hundreds of multiple operational agencies managing the insured individually had undergone the amalgamation process from 1998 to 2000, and had been restructured as one agency, the National Health Insurance Corporation. In 2003, the community/area based financial management was also merged together with the employment based financial management. The National health care system of Korea offer various merits, compared with that of other countries, such as health care provision covering all Koreans, low insurance premium, accessibility of medical services/facilities etc. However, there are still some weak features which need to be addressed for improvement; below expectation insurance cover system, mistrust on the medical services, low medical charges resulted from excessive restrictions, and unstable financial status of the national health insurance etc. Therefore, the National health care system should continue to evolve to re-establish itself as more effective national health care system by further strengthening its merits, and by improving its weaknesses; with adopting the positive system to optimize the costs of prescribed medicines/drugs, applying simpler insurance coverage system to calculate the optimum medical charges, promoting private medical insurances, and increasing insurance premium etc.

• Health Policy and Management
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• v.27 no.3
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• pp.247-255
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• 2017

Background: South Korea has experienced problems with excessive pharmaceutical expenditures. In 2010, the South Korean government introduced an outpatient prescription incentive program to effectively manage pharmaceutical expenditures. Therefore, we examined the relationship between the outpatient prescription incentive program and pharmaceutical expenditures. Methods: We used data from the Korean National Health Insurance claims database, which included medical claims filed for 22,732 clinics from 2011-2014 to evaluate associated pharmaceutical expenditures. We performed multiple regression analysis and Poisson regression analysis using generalized estimating equation models to examine the associations between outpatient prescription incentives and the outcome variables. Results: The data used in this study consisted of 123,392 cases from 22,372 clinics (average 5.4 periods follow-up). Clinics that had received outpatient prescription incentives in the last period had better cost saving and Outpatient Prescribing Costliness Index (OPCI) (received: proportion of cost saving, ${\beta}=6.8179$; p-value < 0.0001; OPCI, ${\beta}=-0.0227$; p-value < 0.0001; reference = non-received). Moreover, these clinics had higher risk in the provision of outpatient prescription incentive (relative risk, 2.772; 95% confidence interval, 2.720 to 2.824). The associations were higher in clinics that had separate prescribing and dispensing programs, or had professional staff. Conclusion: The introduction of an outpatient prescription incentive program for clinics effectively managed problems with rapid increases of pharmaceutical expenditures in South Korea. However, the pharmaceutical expenditures still increased in spite of the positive impact of the outpatient prescription incentive program. Therefore, healthcare professionals and health policy makers should develop more effective alternatives (i.e., for clinics without separate prescribing and dispensing programs) based on our results.

• The Korean Society of Law and Medicine
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• v.15 no.2
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• pp.91-122
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• 2014

For a variety of reasons, the number of medical disputes is continuously rising. Due to the intrinsic qualities of medical treatments, one would find it more apt to subject medical disputes to general conflict resolution procedures rather than to once-for-all decisions under legal suits. To address the increasing medical disputes with greater professionalism and efficiency, the Medical Disputes Mediation Act was enacted and a medical dispute mediation system put in place, while drawbacks have been blamed to both. The current mediation procedures require the respondent's agreement as a disclosure requirement. A reasonable improvement to this would be to amend the regulation of agreement supposition, or to enforce procedural participation only to public health facilities managed by the national or regional government. Furthermore, small claims cases of 20 million KRW or less in claim may be considered for conciliation-prepositive principle. The concentration on small claim medical disputes is a phenomenon that can be addressed by carrying out maximum authentication commissions or similar measures, one of the solutions by enhancing the public trust in the Korea Medical Dispute Mediation and Arbitration Agency. The proper management of medical authentication teams is one way to address the existing problems in the authentication system. For this, the number of team members shall be increased under more flexible authentication procedures. All indemnity resources for medical accidents of force majeure must be borne by the Government, for it is the body principally responsible for social compensation. Placing this cost on the establisher of the subject medical facility holds the possibility of violating fundamental rights. While the costs for subrogation payment system for damages may be borne by the healthcare facility establisher, a deposit-based system must be created for cases in which the facility shuts down, without holding the responsibility for accident cause. Such change to a deposit-based system will evade the controversies of unconstitutionality, etc.

• Health Policy and Management
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• v.23 no.3
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• pp.289-300
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• 2013

Background: Patients' trust in their physicians or hospitals is important to guarantee the effectiveness of care and to encourage revisits. This study aimed to identify the relationship between the experience of requesting verification of healthcare benefit coverage via the Health Insurance Review Agency (HIRA) and patients' trust in their physicians or hospitals. Methods: For this population-based study, 800 adult respondents aged 20 to 65 years were recruited using random sampling and telephone surveys. Respondents were divided into two groups: 1) 400 people had experience in requesting the HIRA verification service for the purpose of confirmation of whether the costs they paid were appropriate among metropolitan habitants, and 2) 400 people comprised members of the public who had no experience requesting the verification service. Results: Experience with requesting verification services was likely to lower the patients' trust in medical institutions, but not in their physicians (p<0.05). In addition, patients who were satisfied with their physicians and hospitals were more likely to trust the physicians and hospitals than dissatisfied patients. Conclusion: Patients' trust might be an important factor influencing hospital success. Patients' trust in medical suppliers, such as physicians and hospitals, encourages a positive relationship between medical suppliers and patients. Therefore, medical suppliers must provide appropriate care to patients to improve patients' trust in them.

• Nuclear Engineering and Technology
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• v.36 no.4
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• pp.346-356
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• 2004

14 Pressurized Water Reactors (PWR) in Korea use a remote monitoring system (RMS), which have been used in Korea since 1998. A Memorandum of Understanding on Remote Monitoring, based on Enhanced Cooperation on PWRs, was signed at the 10th Safeguards Review Meeting in October 2001 between the International Atomic Energy Agency (IAEA) and Ministry Of Science and Technology (MOST). Thereafter, all PWR power plants applied for remote monitoring systems. However, the existing method is high cost (involving expensive telephone costs). So, it was eventually applied to an Internet system for Remote Monitoring. According to the Internet-based Virtual Private Network (VPN) applied to Remote Monitoring, the Korea Atomic Energy Research Institute (KAERI) came to an agreement with the IAEA, using a Member State Support Program (MSSP). Phase I is a Lab test. Phase II is to apply it to a target power plant. Phase III is to apply it to all the power plants. This paper reports on the penetration testing of Phase I. Phase I involved both domestic testing and international testing. The target of the testing consisted of a Surveillance Digital Integrated System (SDIS) Server, IAEA Server and TCNC (Technology Center for Nuclear Control) Server. In each system, Virtual Private Network (VPN) system hardware was installed. The penetration of the three systems and the three VPNs was tested. The domestic test involved two hacking scenarios: hacking from the outside and hacking from the inside. The international test involved one scenario from the outside. The results of tests demonstrated that the VPN hardware provided a good defense against hacking. We verified that there was no invasion of the system (SDIS Server and VPN; TCNC Server and VPN; and IAEA Server and VPN) via penetration testing.