• The Journal of the Korea Contents Association
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• v.18 no.4
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• pp.575-585
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• 2018

The side effects of drug is closely linked to the people's health and professional. In this case, press report is very important in evaluating the side effects of drug and people's attitude of government's health policy. This study analyzed press report on the side effects of drug based on the main theme, source, responsibility attribution on crisis, frame and network analysis. Theses is a difference of main theme between the press. Daily newspaper focused on the occurrence of crisis and economical newspaper focused on the manufacture company. Professional paper focused on the criticizing of the health policy. The main source of the press on the side effects of drug is the Congressman. There are few articles which mentions about the crisis responsibility. However most articles mentioned that the subject of crisis solutions is the manufacturer. This study found the main meaning by network analysis. This study highlighted the government's crisis management based on the result of content analysis and network analysis.

• The Journal of the Korea Contents Association
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• v.18 no.3
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• pp.378-389
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• 2018

This study is intended to comprehend the level of Crisis management through the review of the government Crisis management system, to draw its problems and improvement methods, and to present implications on the establishment of effective Crisis management systems for the future. For this, the condition of operating Crisis management system was analyzed based on legal system, organizations and networks through the major disaster cases during Park Geun-hye administration period. The result of the study showed that there was lack of the interconnectedness among laws in the legal system, manuals and disaster preparation training. The Crisis management organizations had such problems as inappropriate response to crisis, perfunctory re-organization and lack of organizations' functions. The problems in the networks were relations between central and local governments, lack of cooperation and association among each division, and operation methods. The presented improvements for the above problems were the comprehensive revision of legal system, securing responsiveness of Crisis management organizations and the establishment of organic network system.

• The Journal of the Convergence on Culture Technology
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• v.6 no.2
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• pp.251-256
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• 2020

Based on the development of SNS in Mobile and Internet, crisis management is regarded as an important issue that determines the rise and fall of businesses. This study aims to contribute to more efficient implementation of crisis management messages by examining the relationship between the strategy of crisis management communication and the level of specificity of the message. The study found that consumers evaluated the crisis-hit company's acceptance communication strategy to show a higher level of integrity, reliability and appropriateness than the defensive strategy. However, this main effect is mediated by the specificity (high specificity vs. low). Specifically, consumers' assessment of crisis management messages and information-seeking behavior were found to be most favorable when used in a mixture of acceptance strategies and high specificity. Conversely, the lowest effect was the combination of defense strategy and high specificity. Based on these results, the theoretical discussions is described for crisis management practitioners of enterprises and organizations.

• Korean Association of Arts Management
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• no.60
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• pp.93-119
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• 2021

How an organization communicates to relevant stake-holders in a crisis is critical to gain continued social acceptance and legitimacy. In this paper, we examine the evolution of crisis communication strategies by the Arts Council Korea(ARKO) in response to the Blacklist case that unfolded from 2017 through 2019. In doing so, we focused on the 'Pop-up Theater case', where ARKO officials had exercised their discretion to have the play produced by theater artists be discontinued because they had viewed that the play was engendering the imagery of the Sewol-Ho tragedy. Using a case study methodology, we follow a series of events that occurred during this crisis management process, analyzing three apologies issued by the ARKO. In doing so, we draw on Hearit (2006)'s crisis management theory to evaluate how ARKO's crisis communication was managed. Overall, our study highlights that without incorporating truthfulness and sincerity congruent with stakeholder expectations, an organization's crisis communication is likely to be less successful.

• Journal of Korea Trade
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• v.26 no.4
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• The Journal of Industrial Distribution & Business
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• v.9 no.5
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• pp.37-46
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• 2018

Purpose - This paper explores the determinants of bank lending to firms during and after the global financial crisis using firm- and bank-level data to answer the questions what caused the contraction of lending to firms despite the loosening monetary policy during this crisis period. Research design, data, and methodology - We investigate the effects of the monetary policy that followed the global financial crisis on firms borrowing. We use a dynamic panel model to address how firms lending respond to monetary policy. The data are obtained from CRETOP and we consider the manufacturing sector for the analysis to control for unobserved heterogeneity such as industry-specific shocks. Results - The findings from the empirical analysis suggest that both bank- and firm-level characteristics are significant determinants of bank lending. Especially, we find that corporate risk, measured by default risk, is one of the key factors that led to a decline in lending during the crisis. Conclusions - This paper shows that companies borrow more from liquid banks, and high bank capital can also contribute to an increase in a firm's borrowing from banks. Especially, the results confirm that the default rate measured at the firm level has increased during and after the global financial crisis, which implies that default risk interplays with other firm and bank-level characteristics.

• Fire Science and Engineering
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• v.21 no.2 s.66
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• pp.24-29
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• 2007

This research is accomplished for the purpose of providing fundamental materials to improve the level of prevention consciousness by deducting awareness difference through analyzing awareness level about terror preparation of members of crisis management system - the public service personnel in charge of crisis management in a self-governing body and the fire fighting public service personnel. For this research, That is measured through the priority order survey about a specialty of public service personnel in charge of crisis management and a level of crisis prepartion and a cooperation between crisis management system and etc. As a result of analysis, it is revealed that there is a difference about the priority order of measurement variable to terror preparation but all the members are recognizing the importance of that.

• 사회경제평론
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• v.29 no.1
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• pp.71-98
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• 2016

This study reveals the followings in the Tugan's business cycle thoery. First, Tugan tried to construct a business cycle theory based on his market theory. But Tugan' theory is lack of logical consistency. Second, Tugan's critics as well as defenders did not understand his theoretical error. Underconsumption theorists did not evaluate Tugan's periodical crisis theory while only criticizing Tugan's crisis theory neglected a consumption. Bauer developed Tugan's periodical crisis by using the reproduction scheme including a hoarded money. Hilferding only constructed a theory of crisis properly criticizing Tugan's crisis theory on the basis of Marx's concept of crisis.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.759-770
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• 2021

Using a DCC - GARCH model analysis, this paper examines the existence of financial contagion from the U.S. stock market to the Vietnamese and the Philippine stock markets during the global financial crisis and the COVID-19 pandemic crisis. We use daily data from the S&P 500 (U.S.), VN-Index (Vietnam), and the PSEi (the Philippines). As a result, there is no evidence of contagion from the U.S stock market to the Philippine stock market that can be found during global financial crisis, while the Vietnamese market is influenced by this effect. Besides, both these developing stock markets (the Vietnamese and Philippine stock markets) are influenced by the contagion effect in COVID-19 pandemic crisis. Another finding is that the contagion effect during the coronavirus pandemic crisis in Vietnam is smaller than that during the global financial crisis, however, the opposite is the case for the Philippines. It is noticed that the Philippines seems to be more affected by the contagion effect from the COVID-19 pandemic than Vietnam at the time of this study. Because financial contagion is important for monetary policy, asset pricing, risk measurement, and portfolio allocation, the findings in this paper may give some useful information for policymakers and investors.

• International Journal of Computer Science & Network Security
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• v.22 no.7
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• pp.181-190
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• 2022

The article contains an overview of the results of recent research by think tanks in different countries, devoted to the analysis of economic resilience factors in the Covid-19 crisis and the development of recommendations for improving preparedness for the next crises. The authors consider and propose a theoretical framework for the concept of the resilience of economic systems. The impact of the COVID-19 crisis on national economies is analyzed. Factors explaining the different cability of economic systems to withstand shock in the short and long term are identified. The reactions of market participants and national governments to the crisis are assessed. It is shown how the COVID-19 crisis has affected the digital transformation of economic systems, and how digital transformation helps to increase the resilience of national economies so that the latter can emerge from the crisis even stronger.