• Korean Business Review
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• v.2
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• pp.107-139
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• 1989

• The Journal of Industrial Distribution & Business
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• v.11 no.3
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• pp.7-17
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• 2020

Purpose: This study reexamines the test on the pricing of accruals quality. Theory suggests that information risk is a priced risk factor. Using accruals quality as the proxy for information risk, researchers have tested the pricing of information risk. The results are inconsistent potentially because of the information shock in the realized returns that are used as the proxy for expected returns. Based on this argument, this study revisits this issue excluding information-shock-free measure of expected returns. Research design, data and methodology: This study estimates expected returns using the vector autoregression model. This method extracts information shocks more thoroughly than the methods in prior studies; therefore, the concern regarding information shock is minimized. As risk premiums are larger in recession periods than in expansion periods, recession and expansion subsamples were used to confirm the robustness of the main findings. For the pricing test, this study uses two-stage cross-sectional regression. Results: Empirical results find evidence that accruals quality is a priced risk factor. Furthermore, this study finds that the pricing of accruals quality is observed only in recession periods. Conclusions: This study supports the argument that accruals quality, as well as the pricing of information risk, is a priced risk factor.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.231-239
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• 2021

The purpose of this study is to analyze the effect of risk efficiency, financial decisions, and financial performance on firm value due to advances in financial reporting technology. This research was conducted on all banking sub-sector companies listed on the Indonesian capital market during a period of eight years, namely 2012-2019 which were selected using the purposive sampling method. The advancement of financial reporting technology is measured by two indicators based on the Internet financial reporting approach. Risk efficiency is measured using three indicators with a risk proxy relative efficiency approach using value at risk. Financial decisions are measured by two indicators that represent funding decisions and investment decisions. Financial performance is measured by two indicators with the profitability approach, and firm value is measured by two indicators based on the investor perception approach. The data analysis technique in this study used multivariate analysis with SEM-PLS. The empirical findings of this study are the advances in financial reporting technology, financial decisions, and risk-based efficiency value have a significant effect on firm value, while financial performance does not have a significant effect on firm value. Banking companies reduce risk to achieve efficiency and result in lower profits.

• The Journal of Economics, Marketing and Management
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• v.10 no.5
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• pp.1-6
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• 2022

Purpose: To overcome the question that depends too much on expert's subjective judgment in traditional risk identification, this paper structure the multilevel generalized fuzzy comprehensive evaluation mathematics model of the risk identification of project, to research the risk identification of the project. Research design, data and methodology: This paper constructs the multilevel generalized fuzzy comprehensive evaluation mathematics model. Through iterative algorithm of AHP analysis, make sure the important degree of the sub project in risk analysis, then combine expert's subjective judgment with objective quantitative analysis, and distinguish the risk through identification models. Meanwhile, the concrete method of multilevel generalized fuzzy comprehensive evaluation is probed. Using the index weights to analyse project risks is discussed in detail. Results: The improved fuzzy comprehensive evaluation algorithm is proposed in the paper, at first the method of fuzzy sets core is used to optimize the fuzzy relation matrix. It improves the capability of the algorithm. Then, the method of entropy weight is used to establish weight vectors. This makes the computation process fair and open. And thereby, the uncertainty of the evaluation result brought by the subjectivity can be avoided effectively and the evaluation result becomes more objective and more reasonable. Conclusions: In this paper, we use an improved fuzzy comprehensive evaluation method to evaluate a railroad engineering project risk. It can give a more reliable result for a reference of decision making.

• Korea Trade Review
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• v.47 no.3
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• pp.17-35
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• 2022

The Pandemic crisis caused by COVID-19 has raised awareness of the importance of supply chain risk management, such as the control of movement between countries and the simultaneous manufacturing paralysis in the world. Effective risk management within the supply chain of the company is a core competency in the global environment. Therefore, this study quantitatively analyzed the perspective of domestic large corporations and small and medium enterprises (SMEs) by using the hierarchical analysis method (AHP) to identify the factors that should be considered as the priority when establishing supply chain risk management plans for large and small business employees. In order to conduct the study, a survey was conducted on large corporations and small and medium enterprises in Gyeongnam and Busan, and AHP analysis was conducted using Microsoft 365 excel program. In addition, Mann-Whitney U test (independent sample-nonparametric test) was conducted using SPSS/18 version of statistical package program for comparative analysis between groups. As a result, the priority was highly evaluated in the order of financial ability, competitiveness, disaster in the overall priority evaluation. There were statistically significant differences in internal risk and strategic decision making of supply chain between groups. This suggests that fandemics such as COVID-19 can not be predicted, but strategic responses are needed to utilize opportunities expressed in the crisis through supply chain risk management and to increase the competitive advantage of domestic companies even in the crisis.

• The Journal of Information Systems
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• v.25 no.3
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• pp.147-173
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• 2016

Purpose The purpose of this study was to investigate the relationship between the 6th industrial entrepreneurship and business performances on social capital. The 6th industry based on its social capital can have a significant impact on business performances. Design/Methodology/Approach For this reason, we examined the relationship between entrepreneurship and business performance using the moderator variables of social capital and the Sixth industry certification. As a result, the 6th industrial entrepreneurship affects significant positive business performance. In particular, the authenticity, communication skills, social responsibility, collaborative, risk susceptibility, and challenging mind have a positive effect on business performances. As a result of moderation effect analysis, the 6th industry certification has no interaction effect of entrepreneurship, and only challenging mind and communication skills, the authenticity showed that the positive effect on business performances. Findings Social capital has interaction effects on the 6th industry entrepreneurship. Low level of social capital improves business performance through a strong challenging mind and social responsibility. High level of social capital are more demanding authenticity, collaboration, and risk sensitivity. And the higher level of social capital, the lower the communication ability, electrical conductivity, and social responsibility.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.69-79
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• 2022

The purpose of the study is to look into the likelihood of private sector enterprises going bankrupt due to COVID-19 pandemic-related issues. The data for this study was taken from the World Bank's Enterprise Survey, which was intended to assess the impact of the COVID-19 pandemic on the business sector. This study uses the Ordinal Logit Method to analyze the model with dependent variables having ordinal values. The determinants reflect business performance, innovation, business relationships, and government support. According to the estimation results, a lower probability of business closures, illiquidity, and payment delays are found in businesses that maintain sales growth, operating hours, temporary workers, product portfolio, consumer demand, and input supply. Meanwhile, the increase in online business activities and receiving support from financial institutions and the government do not help businesses reduce the risk. Moreover, higher survival is found in manufacturing and developing countries. This implies the fragility of businesses in the retail and service sectors, especially for mega-enterprises in developed countries. In addition, the negative impact of the COVID-19 pandemic on businesses in Europe and West Asia is less severe than in other regions. The results imply policies to support the private sector during the pandemic, such as increasing labor market flexibility or rapidly implementing supportive policies.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.167-175
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• 2015

This study examined the linkage between uncertainty tolerance and attitude toward trying business start-up. Uncertainty tolerance can classify by degrees of uncertainty as risk and ambiguity. We examined the effects of risk tolerance and ambiguity tolerance on attitudes toward trying success and failure. And we also examined the effect of attitudes toward trying success and failure on business start-up trying. This study investigated these relationships using 173 under graduate students. The result of analysis indicated that the risk tolerance had positive effects on attitude toward trying failure, but it had not any effect on attitude toward success and process. The ambiguity tolerance has positive effects on attitude toward trying failure and trying process, but it had not any effect on attitude toward success. The attitudes toward trying success, trying failure, and trying process had positive effect on attitude toward business start-up trying. Then results of this study suggests that the uncertainty(risk and ambiguity) tolerance showed a role of antecedent of attitudes toward trying success and failure. Finally, this study concluded with a discussion of the implications of the research findings and directions for future research.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.59 no.4
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• pp.354-361
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• 2023

In this study, the AHP (analytic hierarchy process) technique was used to analyze the risk of expected risk factors and fishing possibilities during gillnet fishing within the floating offshore wind farms (floating OWF). For this purpose, the risks that may occur during gillnet fishing within the floating offshore wind farms were defined as collisions, entanglements, and snags. In addition, the risk factors that cause these risks were classified into three upper risk factors and ten sub risk factors, and the three alternatives to gillnet fishing available within the floating OWF were classified and a hierarchy was established. Lastly, a survey was conducted targeting fisheries and marine experts and the response results were analyzed. As a result of the analysis, among the top risk factors, the risk was the greatest when laying fishing gear. The risk of the sub factors for each upper risk was found to be the highest at the berthing (mooring), the final hauling of fishing net, and the laying of the bottom layer net. Based on the alternatives, the average of the integrated risk rankings showed that allowing full navigation/fisheries had the highest risk. As a result of the final ranking analysis of the integrated risk, the overall ranking of allowing navigation/fisheries in areas where bottom layer nets were laid was ranked the first when moving vessels within the floating OWF was analyzed as the lowest integrated risk ranking of the 30th at the ban on navigation/fisheries. Through this, navigation was analyzed to be possible while it was analyzed that the possibility of gillnet fishing within the floating OWF was not high.

• Journal of the Korean Society of Safety
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• v.34 no.3
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• pp.89-95
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• 2019

Currently, the legal framework for installation of safety facilities has not been implemented for new multi-purpose business excluding 23 multi-purpose business types, and therefore, there is a high likelihood of large number of casualties in case of fire accident. At present, the new multi-purpose business can start its operation only with administrative actions of the licensing agencies and registration to the tax agency, and it is difficult that the fire department, which is a competent safety management department, makes intervention them in the same way as before. In addition, as the licensing agency has no authority to restrict the business due to insufficient implementation of safety facilities, a lot of civil complaints occur, which causes difficulties in changing concerned laws and regulations rapidly. In this study, it is considered to analyze the legal system, status of safety management of multi-purpose business, type of new multi-use facility and characteristics of fire risk. Based on such analysis results, this study will suggest the improvement plan to solve the blind zones in the safety management, which enables the multi-purpose business to be operated within the legal framework.