• Journal of Distribution Science
• /
• v.20 no.3
• /
• pp.53-58
• /
• 2022

Purpose: Controlling and minority shareholders sometimes have conflicting interests. Controlling shareholders who do not have adequate monitoring can exhibit a strong tendency to maximize their personal wealth. In this case, cash holdings can be the easiest means for them to pursue their personal interests. This study examined whether the largest shareholder's ownership proportion affected the speed at which firms adjust their cash holdings to target levels in Korean distribution and service companies. Research design, data, and methodology: The study uses regression analysis to examine 834 firm-year samples listed on the KOSPI between 2013 and 2018 in the distribution and service sectors. Results: The largest shareholder's ownership is positively related to a firm's cash holdings adjustment speed. That is, the larger the largest shareholder's ownership, the faster the firm adjusts its cash holdings to achieve the target level. Conclusions: This study contributes to the literature by providing evidence that the cash holdings adjustment speed in Korean service and distribution companies is affected by the largest shareholder's ownership. As the agency problem between controlling and minority shareholders in Korea is a major issue, minority owners' sensitivity to agency costs may help restrict controlling owners' ability to maximize their personal wealth.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.3
• /
• pp.135-147
• /
• 2022

This study was conducted to determine whether there is a significant relationship between board structure and board committee qualities and corporate cash holdings in Pakistan. For this objective, 168 listed enterprises on the PSX for the period 2016 to 2020 were chosen as a sample from a population of 436 non-financial firms. Multiple regression analysis was used in the study to discover a relationship between board structure and board committee features and cash holdings. The study's findings revealed that board size, executive directors, and board independence have no significant impact on the firm's cash holding because they play no important part in the firm's cash holding. Auditors, audit committee size, audit committee meetings, and the compensation committee, on the other hand, have no major impact on the firm's cash holdings because they are not relevant indicators to compare with cash holdings. While board meeting frequency and leadership structure both have a negative influence on cash holding, board meeting frequency increases firm costs, whereas leadership structure causes agency problems. Results were supported by the pecking order theory, cash flow theory, and agency theory.

• Journal of Korean Academy of Nursing Administration
• /
• v.4 no.2
• /
• pp.351-361
• /
• 1998

The purpose of this study was to explore whether there is a point within the range of physical impairment after which the cost of home care exceeds the cost of nursing home care among the elderly who require long-term care. The provision of long-term care for the elderly is a major health policy issue, in part due to the aging of the American population and dramatic increase in health care costs. The framework for this study was guided by Pollak's(1973)model of costs of alternative care settings for the elderly. This study used a retrospective, descriptive correlational design. Physical impairment was measured by the modified Index of Activities of Daily Living(Katz et al. 1963). Cost of care was measured by the average cost per patient per day. The sample for this study included 67 patients receiving long-term care at home from the Long-term Home Health Care Programs (LTHHCPs) and 67 patients receiving long-term care in nursing homes. Data were collected on patient characteristics. including activities of daily living and cognitive impairment. and on the number of physician visits. emergency room visits. and hospitalization from the patient records. For each patient. Medicaid cost data for home care services/or nursing home services were collected from the financial department of each home care agency or nursing home. The living costs and informal care costs were estimated for home care patients. The results indicated that the home care sample and the nursing home sample were similar in terms of gender. ethnic background. and marital status. The elderly patients in the home care sample were: however. younger and less physically impaired than those in the nursing home sample. The hypotheses of this study were supported: For elderly persons with physical impairment scores below 12(possible range of 0 to 14), cost of care was lower in home care than in the nursing home care setting. However, for elderly persons with physical impairment scores above 12. the cost of care was higher in home care than in the nursing home care setting. Thus. in this sample for elderly patients with extreme physical impairment, the cost of home care exceeded the cost of nursing home care.

• Economic and Environmental Geology
• /
• v.47 no.3
• /
• pp.219-225
• /
• 2014

In Korea, there are 1,474 thousand pumping wells nationwide which account for about 12% of total water use in 2012. As much as 39 hundred million tons of groundwater were used while 333 hundred million tons of total water were supplied in 2012. Because the water management authority projects that water demand will exceed supply by 2021, the authority is planning to extensively expand groundwater use in accordance with economic feasibility. Using the basic frameworks of cost-benefit analyses of the World Bank and the US Environmental Protection Agency (US EPA), the objective of this study is to examine the costs and benefits of the expansion of Korea's groundwater extraction through pumping wells. We conclude that the BC ratio of the groundwater pumping wells is 2.98. This signifies that the benefits are 2.98 times higher than the costs. The benefits include use and non-use values of pumping wells while the costs include the installation and maintenance of new wells, in addition to the restoration and pollution costs of abandoned wells, as well as fees for water quality tests, etc.

• Proceedings of the Korea Technology Innovation Society Conference
• /
• 2015.11a
• /
• pp.479-487
• /
• 2015

In Korea, there are 1,474 thousand pumping wells nationwide which account for about 12% of total water use in 2012. As much as 39 hundred million tons of groundwater were used while 333 hundred million tons of total water were supplied in 2012. Because the water management authority projects that water demand will exceed supply by 2021, the authority is planning to extensively expand groundwater use in accordance with economic feasibility. Using the basic frameworks of cost-benefit analyses of the World Bank and the US Environmental Protection Agency (US EPA), the objective of this study is to examine the costs and benefits of the expansion of Korea's groundwater extraction through pumping wells. We conclude that the BC ratio of the groundwater pumping wells is 2.98. This signifies that the benefits are 2.98 times higher than the costs. The benefits include use and non-use values of pumping wells while the costs include the installation and maintenance of new wells, in addition to the restoration and pollution costs of abandoned wells, as well as fees for water quality tests, etc.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.16 no.9
• /
• pp.5829-5835
• /
• 2015

This paper investigates the impact of corporate governance structure on the firm's debt costs under different governance environments. We find that after the 2008 banking crisis, family firms with controlling shareholders benefit from lower debt cost through the strong control rights of dominating large shareholders, compared with the firms with diversified minority-shareholders. Foreign investors are related statistically to the higher cost of debt. Before the 2008 banking crisis, cash flows and growth potentials are positively associated with the firm's cost of debt.

• The Journal of the Convergence on Culture Technology
• /
• v.4 no.4
• /
• pp.187-199
• /
• 2018

In this study, only 2,877 men, 2,614 men (44.6%), and 143 women (2.3%) were selected as the subjects who were over 18 years old in response to the health consciousness of the Korean medical panel data in 2012. Emergency of smokers through medical use and medical expenditure data by smoking. The social costs were estimated through medical expenses according to the number of hospitalization and outpatient medical use. The social cost was calculated by summing the social expenditure on health care costs, insurer (corporation) costs, copayment, non - salary, and productivity costs by adopting the social perspective established by the health economist Rice (1968). The rate of annual emergency medical use by smoking status is 7.5% for smokers per 100 people, 9.8 times for use, and 809,003 won for social expenses. The annual rate of hospitalization per 100,000 population by smoking status was 9.6% for smokers per 100 population, 9 times for use, The social cost is 706,870 won. Annual smoking rate by smoking status was 68.6% for smoking, 9 cases for annual medical use,

• Journal of Radiation Protection and Research
• /
• v.33 no.2
• /
• pp.67-76
• /
• 2008

As the first comprehensive attempt at a national implementation, this study aims at assessing the external costs of major electricity generation technologies in Korea, particularly an evaluation of the impacts on human health resulting from exposures to atmospheric radiological emissions from nuclear power plants, and a monetary quantification of their damages. The methodology used for the assessment of the externalities of the selected fuel cycles has been developed by the International Atomic Energy Agency (IAEA), namely the SimPacts Model Package. The model is internationally recognized as a tool which can be applied to a wide range of fuels, different technologies and locations, for an externalities study. In this study, the relevant emissions are quantified first and then their impacts on human health are evaluated and compared. The study focused on all the nuclear power plants for the last 6 years ($2001{\sim}2006$) in Korea. With respect to nuclear power, the impact analysis only focuses on a power generation, however the front- and back-end nuclear fuel cycles are not included, namely uranium mining, conversion, enrichment, reprocessing, conditioning, etc., because these facilities are not present in Korea. The analysis results show that nuclear power in general, generates low external costs. The highest damage costs from the nuclear power plants among the 4 sites in Korea were estimated to be 3.9 mills/MWh, which is about 1/20th of the result for a similar case study conducted in the U.K., implemented through the ExternE project. This difference is largely due to the number of radionuclides included in the study and the amount of released radioactive emissions based on up-to-date information in Korea. In this study, the sensitivities of the major factors for nuclear power plants were also calculated. The analysis indicates that there was around a ${\pm}3%$ damage costs variation to a ${\pm}15%$ change of the reference population density and a ${\pm}1%$ damage cost variation to a $1{\sim}30$ meters change of the effective release height, respectively. These sensitive calculations show that there is only a minor difference when the reference costs are compared.

• Health Policy and Management
• /
• v.17 no.3
• /
• pp.1-25
• /
• 2007

Relative value scales introduced in 2001 remarkably improved health insurance fee schedule, but current relative value scales have many problems. In the beginning the government intended to introduce 'resource based relative value scales(RBRVSs)' like USA, but political adjustment of RBRVS studied in 19.17 weakened the relationship between relative value scale and resource consumption. So unbalance of health insurance fees are existing till now. Also relative value was not divided to physician work and practice expense, and malpractice fee was not divided separately. To correct the unbalance of current relative value scales, the refinement project of health insurance relative value scales started in 2003. The project team divided relative value scales into three components, which are physician work, practice expense, malpractice fee. Physician work was studied by professional organizations like Korean medical association. To develop the practice expense relative value, project team organized clinical practice expert panels(CPEPs) composed of physicians, nurses, and medical technicians. CPEPs constructed direct expense data like labor costs, material costs, equipment costs about each medical procedures. The practice expense relative values of medical procedures were developed by the allocation of the institution level direct & indirect costs according to CPEPs direct costs. Institution level direct & indirect costs were collected in 21 hospitals, 98 medical clinics, 53 dental clinics, 78 oriental clinics, and 46 pharmacies. The malpractice fee relative values were developed through the survey of malpractice related costs of hospitals, clinics, pharmacies. Putting together three components of relative values in one scale, the final relative values were made. The final relative values were calculated under budget neutrality by medical departments, that is, total relative value score of a department was same before and after the revision. but malpractice fee relative value scores were added to total scores of relative values. So total score of a department was increased by the malpractice fee relative value score of that department This project failed in making 'resource based' relative value scales in the true sense of the word, because the total relative value scores of medical departments were fixed. However the project team constructed the objective basis of relative value scale like physician's work, direct practice expense, malpractice fee. So step by step making process of the basis, the fixation of total scores by the departments will be resolved and the resource based relative value scale will be introduced in true sense.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.25 no.2
• /
• pp.383-393
• /
• 2015

Recently, the number of companies consigning their personal information management work has been increasing; they consign the work for various reasons and purposes, for example, in order to reduce costs related to personal information managers, improve efficiency through professional performance and to improve service quality. As such, since the cases where an consigning agency - not the personal information manager - handles personal information are increasing due to the increase of consigning of the personal information management work, we need to concerned with and pay attention to how much such agency makes efforts for personal information protection. In this regard, this study suggests a plan for efficient management of the agency during the course of consigning work as well as a list of requirements for personal information protection to be considered in each phase of the following; establishment of personal information protection framework for all consigning work processes, selection of consigning agency, execution of consigning contract, operation and management of consigning work, and termination of contract.