• Journal of Korean Institute of Industrial Engineers
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• v.43 no.1
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• pp.30-38
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• 2017

Contingent convertible (Coco) bonds have been issued in 2009 after financial crisis for improvement of capital structure in international banks. With more focuses on coco bonds in financial market, academic fields have paid attention to the instrument for optimal structure for issuers and rational pricing methodologies. However, there is a crucial discrepancy in prevailing pricing model and their target subjects. Though most of the coco bonds have been issued based on accounting triggers, many of existing models are based on market prices and therefore exhibit limitations in practical use. In this paper, a more practical pricing method for accounting triggered coco bonds is proposed using stochastic equity ratio process. Empirical results tested on coco bond issued by JB financial group supported the proposed approach with favorable performance in tracking actual market prices.

• International Commerce and Information Review
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• v.10 no.3
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• pp.437-458
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• 2008

In these days the global software market is experiencing diastrophism due to globalization, convergence, and the spread of web 2.0. In particular, today"s global economy has entered the so-called "Globalization 3.0" era, and the world is evolving into a flat world where labor, capital, and resources are moving freely. In this rapidly changing global economy, the growth of the Korean economy is in a state of continuous decline. Particularly software industry is also suffering continuously slow growth due to market saturation and low service earning, which require urgent countermeasures. Therefore, the purpose of this study is: 1) to analyze the current industrial condition of the software industry, which have special characteristics differ from manufacturing industry; and 2) to analyze the major obstacles of local companies working in the software industry in order to cope with the recent changes in the global market environment and 3) to draw out the strategy for the domestic software industry in gangwon province in order to promote local software industry and to achieve globalization.

• Journal of the Korean Society of Clothing and Textiles
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• v.28 no.910
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• pp.1208-1218
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• 2004

The purposes of this study were to examine the alliance success factors (ASF) and the business environments (BE) from the textile companies' viewpoint, to examine the differences in ASF and BE by firm characteristics, and to examine the relationships between BE and ASF. BE included the degree of market competition and the firm's competitive advantage, and firm characteristics included type of business, the number of employees, and length of business operation. Data were obtained from 155 textile companies in Daegu and Gyeongbuk regions in Korea via a questionnaire survey. Four factors including relationship capital, organizational support, alliance management, and alliance performance were extracted from ASF, and resources, product development, and marketing were extracted from the firm's competitive advantage. There were differences in product development by the number of employees and in the degree of market competition by type of business. The degree of market competition had significant relationships with all of ASF while the firm's competitive advantage differed in the relationships.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.20 no.43
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• pp.381-392
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• 1997

Korea and Japan have maintained an intimate relationship of economic exchange. However, even though both countries have made sound advances in the ASIAN market, they have not established mutually remarkable cooperative relations and advances in the ASIAN market. If korean companies with abundant experience and management ability provide able managers and skilled labor and if Japanese companies provide construction technology, capital and information, they could enjoy enomorous mutual benefits by advancing in the area of plant construction in foreign countries. Therefore, if they cooperate with each other by establishing complementary cooperation, both countries can gain an advantage in international competitiveness with western advanced countries.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.119-139
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• 2023

Purpose - This study is the first field study about the insurance market in North Korea. By analysing the information and the data collected from the visit to North Korea, we introduced the most recent change on the insurance market in North Korea and analyzed the impact of the change of economic policy on the insurance market. This study may enhance the understanding the current situation and provide expectations on the future of the insurance market in North Korea. Design/methodology/approach - This study is based on the field study doen in 2018 to Pyeong Yang, the capital of North Korea, The most information was collected from the legal documents, news papers and academic reports. Findings - During his regime from the year of 2012, Kim Jong Eun, the Supreme Leader of North Korea, initiated the drastic change in economic renovation policy in North Korea by shifting the economic system from the commodity economy to the market economy. Due to the policy, the insurance market in North Korea became marginally privatized and the market of life insurance contracts is expected to be increased if North Korea may resolve the political conflicts between North Korea and the United States and its allies in Asia mainly due to its nuclear testing. Research implications or Originality - Until now, very few studies have been done regarding the financial market in North Korea, especially about the insurance market. Our study provides unique information on the insurance market in North Korea because all the information and its implications are based on the field study in 2018.

• The Journal of the Korea Contents Association
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• v.20 no.4
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• pp.348-357
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• 2020

Discussions on entrepreneurship are increasing, but the methodology that can be applied to actual small to mid-sized businesses and venture firms is insufficient, and research on measuring achievement and application is lacking. In this regard, this paper analyzed actual proof on the relationship among entrepreneurial orientation, R&D capabilities, market share, and the creation of BSC future values that can be empirically applied to small to mid-sized businesses and venture firms. A factor analysis and hypothesis verification have been conducted with the SEM model utilizing SmartPLS 3.0 on the recent 7th year (2017) data from the Human Capital Corporate Panel (HCCP) of the Korea Research Institute for Vocational Education and Training. The actual proof analysis revealed that entrepreneurial orientation creates a positive influence on R&D capabilities and the creation of BSC, and also on market share, with R&D capabilities as a parameter. On the other hand, the relationship between entrepreneurial orientation and market share proved to be not statistically meaningful. Future value creation of BSC also could not mediate the relation between entrepreneurial orientation and market share. Therefore, this research has proven that a company must cultivate its personnel's R&D capabilities with their entrepreneurial orientation. Furthermore, it is a significant fact that BSC, the conventional measuring tool for performance management, could not mediate the relationship between entrepreneurial orientation and market share. Future companies aiming at innovation should consider developing a new index that could measure the corporate-level entrepreneurship and conduct performance management.

• STI Policy Review
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• v.5 no.1
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• pp.75-97
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• 2014

Entrepreneurial financing, such as publicly initiated venture capital or grant schemes, serves as an important policy instrument that aims to bridge the financing gap facing young, innovative businesses, a gap that is mainly due to higher risk and growing uncertainty, and to strategically promote the creation of new ventures through the revitalization of their venture capital industries. This study examines public venture capital initiatives in Australia, Canada, and Sweden, and discovered that all three countries actively foster their venture capital industry through the formation of funds or the provision of tax incentives. It is notable that the majority of financing initiatives heavily depend on supply-side measures rather than demand-driven policies that focus on stimulating private investment in technological innovations and discoveries. This paper discusses in-depth the policy impact of public financing initiatives and their subsequent side-effects raised in the process such as overlapping in funding structure across the country, lack of monitoring and evaluation for feedback, fragmentation across the government ministries and agencies, and competition with the private sector, which may cause inefficiency as a result of public intervention. Financial constraints may arise for many reasons, partly resulting from the lack of investment readiness of young entrepreneurs. This signals a policy shift towards the creation of market-driven demand away from the traditional supply-push approach, and is a grand challenge to policymakers in entrepreneurial financing. Attention is leaning towards the efficiency and effectiveness of these public-financing initiatives in terms of their policy roles. It is worth noting that policy should focus on generating synergy so available resources can be channeled into the early, risky stage of new ventures, working as facilitator to the achievement of an intended policy goal.

• Proceedings of the Safety Management and Science Conference
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• 2005.05a
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• pp.379-392
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• 2005

The size of state in Korea is like Israel, this country's venture capital is ruled by government. This venture capital's character is below: the concentration on research of venturer affect positively at quality of products. This paper lies with venture capital's risk character & performance. The results show that Korean venture capitals have lager unsystematic risk than systematic risk, which implies they specialize in specific business and/or regional areas instead of diversification. The Sharpe & Jensen measures reveal that the performances of Korean venture capitals are very low relative to even the market portfolio(Kospi) and Kosdaq Venture Index. Contrary to this, Venture firm's performance according to Entrepreneurship will cause to push up stock price.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.230-236
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• 2017

The recent domestic construction market is in a difficult situation due to reduction of the government's SOC budget and new orders from public-sector, and the deterioration of housing supply situation in the private sector etc. In addition, the number of disasters in the construction industry has increased in recent years with 26,570 people (up 5.7% from the previous year) in 2016, unlike other industries that are in a declining trend. As such, the construction industry has unique characteristics and problems such as high industrial accidents rate, abnormal subcontracting structure, excessive working hours and work intensity. As a result, the construction workers have a lot of job stresses. Job stress has been recognized as one of the major causes of industrial accidents and many researches have been conducted on that. However, most of the researches were about the factors that induce job stress and how these factors affect disaster occurrence, job satisfaction, job performance, turnover intentions, and job exhaustion. The purpose of this study is to investigate the effect of positive psychological capital on job stress, which is emerging as a new human resources development paradigm useful in corporate management in order to find ways to reduce job stress. To do this, 347 data collected from construction workers in Daejeon, Sejong, and Chungcheong provinces were analyzed using statistical package(IBM SPSS 22) for basic statistical analysis, reliability analysis, and regression analysis. As a result, positive psychological capital has shown an alleviate effect on job stress. In particular, the higher the optimism, hope, and resiliency of positive psychological capital, the lower the job stress. However, the higher the self - efficacy, the higher the job stress.

• International Area Studies Review
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• v.12 no.3
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• pp.25-47
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• 2008

This paper tries to explore the impact of economic globalization on social capital accumulation. To investigate direct effect, we build a model and derive a proposition which can explain the relative decline in social capital brought about by market expansion. Besides direct effect, we also explore channel effect through democracy, government size, education attainment, and inequality. We estimate direct and channel effect of globalization using cross section of 65 countries data time period 1980-1999 using three-stage least squares(3SLS). Results are in line with predictions and clearly support that globalization significantly and negatively affects social capital accumulation. Channel effect also shows that globalization has a negative effect through aggravating income inequality while it has a positive effect through higher education attainment, higher level of democracy and larger government spending. Such a net negative channel effect reinforces our prediction. As a robustness check we estimate other sets of data and the result strongly supports our theory.