• 유통과학연구
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• 제19권1호
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• pp.27-35
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• 2021

Purpose: This study is to investigate the effect of managerial ownership level in distribution and service companies on the stock price crash. The managerial ownership level affects the firm's information disclosure policy. If managers conceal or withholds business-related unfavorable factors over a long period, the firm's stock price is likely to plummet. In a similar vein, management's equity affects information opacity, and information asymmetry affects stock price collapse. Research design, data, and methodology: A regression analysis is conducted using the data on companies listed on the Korea Composite Stock Price Index (KOSPI) between 2012-2017 to examine the effect of the managerial ownership level on stock price crash risks. Results: Logistic and regression results indicate that the stock price crash risk was reduced as managerial ownership levels are increased. The managerial ownership level has a significant negative coefficient on stock price crash risk, negative conditional return skewness of firm-specific weekly return distribution, and asymmetric volatility between positive and negative price-to-earnings ratios. Conclusions: As the ownership and management align, the likeliness of withholding business-related information is reduced. This study's results imply that the stock price crash risk reduces as the managerial ownership level increases because shareholder and manager interests coincide, thereby reducing information asymmetry.

• 한국건축시공학회지
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• 제9권1호
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• pp.123-129
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• 2009

The global financial crisis resulting from sub-prime mortgage crisis in the United States, beginning in 2007, has had dealt a blow to domestic economy. The economic downturn, coupled with a large number of apartments remaining unsold has resulted in contracted investment sentiment of the builders. Thus it's difficult to even implement the business, unless the investment project is thoroughly verified as well as the accurate profitability is granted. Viewing the current situation, forecasting and evaluating the business profitability is more than important today. The study was planned to identify the factors influencing the business success and to evaluate the sensitivity, relative risk of each factor was measured, and the scope of the study was limited to the commercial buildings among other buildings except apartment buildings. Hence, the study was aimed to analyze the factors affecting the business and the sensitivity so as to be able to systematically materialize the risk management of the commercial buildings. The outcome of the study is expected to serve the useful data in analyzing the business profitability and implementing the investment projects as well.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.689-695
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• 2021

In the current technology-driven era, Small and medium enterprises (SMEs) have been deemed as one of the leading and prominent drivers of sustainable economic progress in emerging and developing economies such as in the Bangladesh context. Hence, it is of significance to understand what might fuel accelerating performance of SME business as increased SME performance will bring about more sustainability and strong development of SME sector within the country, through which more employment is anticipated to be generated. Therefore, the current study examines the impact of three factors: risk-taking, innovativeness, and proactiveness on SME performance in Bangladesh. The study has gathered data from SME entities in Dhaka city of Bangladesh, by applying a non-probability sampling strategy. 250 SME owners were contacted to act as respondents and finally, 180 SME owners fully completed the survey questionnaire, indicating that the final sample size is n=180. SPSS is used as a purpose of testing the hypotheses by considering a 5% significance level as acceptance criteria of the hypothesis. Hierarchical regression analysis was run to understand the impact of control variables and independent variables on SME performance and found that age of business, risk-taking, innovativeness, and proactiveness have an important impact on SME performance in Bangladesh.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.549-561
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• 2021

This study aims to identify the role of organizational behavior and intellectual capital on risk management implementation and Village Credit Institutions (called LPD) performance. The LPD population is 1,256 units spread across nine districts/cities in Bali. This research was conducted at the LPD as the only microfinance institution based on local wisdom in traditional villages in Bali Province, Indonesia. Based on sampling using the Slovin method, there were 139 LPD as sampled in this study. The respondent in this study was the Head of the LPD. LPD performance measurement is using the balanced scorecard method that combines financial and non-financial aspects. This study also investigates risk management's role as a mediator in the relationship between organizational behavior and intellectual capital on the LPD performance. Methods of data collection using a survey. The questionnaire was given to 139 LPD chairman who was respondents in this survey. The data analysis technique used SEM-PLS. This study succeeded in confirming Resource-Based View Theory that organizational behavior and intellectual capital affect risk management and organization performance. These results also prove risk management's role as a mediation for the relationship between organizational behavior and intellectual capital on organizational performance.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1287-1293
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• 2021

Alternative forms of travel have recently been delivering rewarding experiences and promising sustainable development for the tourism sector. However, it also depends on the uncertainties, consequences, and emotional connection with the destination. So far, the scholars have done limited empirical studies on volunteer tourism in Bali. Thus, this study tries to measure volunteer tourists' behavior by understanding the relationship between destination attachment, risk perception, and voluntourism behavior. Therefore, a study on the inclusivity of tourists' attachment to a particular place and perceived risks in volunteer tourism is an essential need to sustain the tourism industry. Data was analyzed using Partial Least Squares with smartPLS software. This study is based on a sample of ninety-three tourists of generation Z in Bali, Indonesia. Both outer model and inner model evaluation were conducted to ensure the robustness of the proposed model. The findings showed that destination attachment does have a direct and significant effect on voluntourism behavior. As expected, we also find that perceived risk has a significant moderating role on the relationship. Hence, greater efforts are needed to improve the image of the place by highlighting the characteristics of the locations. At the same time, it is necessary to put considerable effort to alleviate unfavorable conditions by creating safe environment surrounding the destination.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.377-388
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• 2022

The purpose of this article is to investigate the impact of competition on the performance of Indian banks. The survey includes banks from both the public and private sectors. The study will collect data for four years, from 2015 to 2019. Dynamic and static panel data are applied to estimate the association between competition and the bank's performance. Profitability and risk-taking are the performance measures used in the study. The study's main findings are that competition does not impact the banks' profitability in India. However, the findings concerning risk-taking are mixed. Therefore, it can be inferred that overall competition does not impact the banks' performance in India. Other measures of performance of the banks could have been used in the study. It is a limitation to use data of four years. Data for a much more extended period could have also been used. This is one of the few papers on the subject. Therefore, its contribution is very significant. The gap in studies on the topic of competition versus performance of the banks is veritably filled by the current study's findings.

• 환경영향평가
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• 제16권5호
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• pp.319-325
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• 2007

Recently, since the risk on natural disasters is increasing due to abnormal weather such as the global warming, a need for a system on prior review on the influence of disasters has emerged in order to establish a solution by analyzing elements of disaster in advance. However, since the inherently destroying business namely the quarrying business is excluded from the range of subject business of Prior Review System on the influence of disasters, a correction for this is required. In order to actually explore how much risk it contains, actual outflow of soil and flood in the quarrying block where quarrying is being currently carried out was examined and the required undercurrent facility capacity which is also used as a grit chamber was investigated. In addition, by comparing the soil outflow of industrial complexes and golf courses which are current subject businesses of Prior Review on the Influence of Disasters and that of rock mountains relative risk level was examined. After investigation, it was found that the risk on occurrence of disasters was increased due to increase in outflow of soil and flood because of the change of land condition during and after development thus an adequate solution to decrease is required. In addition, after comparison with other business groups it was found that a significantly higher amount of soil is outflown in case of rock mountains thus it was analyzed that a solution to decrease is required. Therefore, a correction is immediately required in order to include quarrying business in the subject business of Prior Review System on the Influence of Disasters.

• 정보처리학회논문지:컴퓨터 및 통신 시스템
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• 제1권2호
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• pp.103-108
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• 2012

최근 IT 거버넌스 개념이 기업경영 현장에 적용되고 있다. 본 논문에서는 클라우드 컴퓨팅 환경에서 IT 거버넌스를 기반으로 기업의 정보보호 위험을 최소화할 수 있는 비즈니스 모델에 대해 연구한다. 특히, 정보보호 거버넌스 세부 주제인 위험관리를 연계하는 상호작용 모델(IT 거버넌스 프레임워크인 COBIT과 연계하여 시너지를 높일 수 있는 구조)을 제안하고자 한다. 여기서, 시너지는 효과적, 전략적이고 안전한 비즈니스 지원을 의미하며, BMIS의 4가지 요소, 6가지 역동 연결자와의 상호작용성에 대해 분석이 요구된다. 따라서 COSO ERM이나 COBIT Risk IT Framework를 기반으로 위험관리와 연계될 수 있는 상호작용 모델을 제안한다.

• 산업경영시스템학회지
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• 제42권2호
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• pp.9-17
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• 2019

In order to deal with high uncertainty and variability in emergency medical centers, many researchers have developed various models for their operational planning and scheduling. However, most of the models just provide static plans without any risk measures as their results, and thus the users often lose the opportunity to analyze how much risk the patients have, whether the plan is still implementable or how the plan should be changed when an unexpected event happens. In this study, we construct a simulation model combined with a risk-based planning and scheduling module designed by Simio LLC. In addition to static schedules, it provides possibility of treatment delay for each patient as a risk measure, and updates the schedule to avoid the risk when it is needed. By using the simulation model, the users can experiment various scenarios in operations quickly, and also can make a decision not based on their past experience or intuition but based on scientific estimation of risks even in urgent situations. An example of such an operational decision making process is demonstrated for a real mid-size emergency medical center located in Seoul, Republic of Korea. The model is designed for temporal short-term planning especially, but it can be expanded for long-term planning also with some appropriate adjustments.

• 한국건설관리학회논문집
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• 제13권4호
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• pp.89-99
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• 2012

대규모 복합개발 형태로 추진되는 도시재생사업은 사업의 특성상 사업이 장기화, 참여주체들 간의 갈등요소, 복잡한 인 허가 과정, 잦은 정책변화 등의 리스크요인을 내포하고 있다. 따라서 사업 진행과정 중 발생할 수 있는 수많은 리스크요인들을 사전에 효율적으로 관리할 수 있는 체계적인 리스크관리가 필요하다. 그러나 도시재생사업과 같은 대규모 복합개발사업의 리스크관리는 아직 도입단계로 주로 일회적인 리스크관리계획이 수립되고 있다. 따라서 본 연구에서는 수많은 리스크요인들이 내재된 도시재생사업의 체계적인 리스크 관리를 위하여, 선행연구와 사례분석을 통해 도시재생사업의 리스크요인을 제시하였다. 그리고 도시재생사업의 추진단계에 따라 리스크요인을 분류하고 그에 대한 중요도를 산정하여, 단계별 중점 리스크요인을 제시하였다.