• East Asian Economic Review
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• v.24 no.4
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• pp.441-468
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• 2020

Capital inflows have a strong presence that influences destination countries' development of institutions, which can in turn help resuscitate a stopped economy and re-attract capital that was lost during crises such as the recent public health crisis. While the previous literature emphasizes the mechanism that foreign investors press or even threaten the local government for change, this paper explores empirically whether institutional improvement can be achieved through the channel that host countries voluntarily reform institutions in anticipation of potential investments predicted by the exogenous geographical and cultural characteristics of the recipient countries. Given that countries with better institutional quality can accumulate larger FDI stocks, we still find that the need for more FDI, in contrast to FPI and debt, gives higher incentives to host countries to strategically improve their institutions before seeking capital overseas. Moreover, the predicted FDI exerts more prominent impacts on institutions on constraining elite than those involved in launching a business, enforcing contracts, and protecting properties. The results imply that a long-run plan for upgrading elite constraint institutions is crucial for a post-pandemic FDI reboot.

• International Journal of Computer Science & Network Security
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• v.22 no.5
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• pp.215-219
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• 2022

Bankruptcy is one of the major areas that have attracted the interest of many researchers in the American system, particularly in terms of the laws that oversee it. It provides a plan of reorganization that enables the debtor or the proprietor to discharge liabilities to the creditors through dividing the assets to settle debts. This activity is carried out under supervision to fairly protect the interests of the creditors. Bankruptcy protection systems are dynamic and complex in nature, in line with the economic sector, ensuring the protection of affected individuals from falling into huge losses. Some bankruptcy procedures give the debtor the opportunity to stay in operation or business activity and benefit from revenues until the debt is settled. This law allows some debtors to be relived from any financial burden after the distribution of assets, even if the debt is not paid in full. In light of the above information, this research paper seeks to explore the nature of the complexity of bankruptcy protection laws, their characteristics, and the justice system that regulate them. It also sheds more light on the decision-making powers on bankruptcy cases. There are specialized courts that cover bankruptcy cases located in district courts in every state.

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.81-111
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• 2007

The agency relationship between managers and shareholders has the potential to influence decision-making in the firm which in turn potentially impacts on firm characteristics such as value and leverage. Using an agency framework, we examine the relation between ownership structure and capital structure during post-IMF period. We used the balanced panel data for 378 korean listed companies during the 1999-2005. The panel data sets consist of time-series observation on each of 378 cross-sectional units. The results indicate a non-linear U-shaped relation between the level of managerial share ownership and leverage with the relation reaching a minimum at 58.48 per cent of management share ownership. As managerial share ownership increase from a low level, managers have incentive to reduce the debt level for decreasing the financial risk, resulting in a lower lever of debt. However, when corporate managers hold a significant proportion of a firm's shares, managers have incentive to increase the debt level for leverage effects, resulting in a higher lever of debt.

• Journal of Family Resource Management and Policy Review
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• v.13 no.4
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• pp.95-114
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• 2009

This study compared demographic, economic and career characteristics between a traditional retirement group and a gradual retirement group. From the 2005 Korean Retirement and Income Study (KReIS), 780 traditional retirees and 265 gradual retirees were selected. A t-test, chi-square test and logistic regression analyses were completed. The findings of this study were as follows: First, there are gender and age differences between the traditional retirement group and the gradual retirement group. The gradual retirement group has a high proportion of male workers and older workers compared to the traditional retirement group. Second, members of the traditional retirement group have more income, more assets and less debt than members of the gradual retirement group; therefore, their financial structure is comparatively stable. Third, there is a large percentage of blue-collar workers (e.g., technical service, repair, operatives) in the gradual retirement group. Members of the gradual retirement group had worked for a shorter period during their career and had a lower wage rate than members of the traditional retirement group. Finally, male workers who are in their 60s and 70s, who do not have a public transfer income but have a higher level of career income, and are older when they end their career, are less likely to retire gradually. As they also have a higher level of debt, the probability of these workers selecting a gradual retirement route is high.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.66-79
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• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.

• Journal of the Korean Home Economics Association
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• v.40 no.2
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• pp.115-130
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• 2002

The purposes of this study was to analyze the effects of household characteristics and financial variables on financial management behavior and financial solidity. The major results could be summarized as follows. First, Debt management behavior and risk management behavior reveled a higher score than any other financial management behaviors. The main determinants of financial management behavior were financial communication and financial attitudes. The more positive financial attitudes and the more financial communication were, the better the financial management behavior followed. The set of households characteristics variables accounted for 2% of the variance in the financial management behaviors. But the addition of financial related variables resulted in an R2 change of 33%. Second, the financial solidity by median was 4.10. It means that usuable net asset is four times higher than the total amount of risk. Household head\`s age, financial attitudes and financial management behavior were the variables affecting the financial solidity.

• Culinary science and hospitality research
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• v.14 no.4
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• pp.93-105
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• 2008

This study was attempted to analyze causal relations among flexibility, growth, and profitability variables, which are the financial indexes of restaurant enterprises. The samples were 24 restaurant enterprises in total, and 102 financial statements between 2002 and 2006 were analyzed. As a result of the analysis, total asset growth rate influenced all profitability variables among growth variables. Also, the net sales growth influenced return on sales and return on assets, and the assets turnover influenced return on assets and return on equity. Among flexibility variables, current ratio and interest coverage ratio to operating profit influenced return on assets, and return on equity was influenced by current ratio and debt-to-equity ratio.

• Journal of the Korean Home Economics Association
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• v.39 no.8
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• pp.121-136
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• 2001

The purpose of this study was to analyze the effects of financial attitudes and financial communication on financial satisfaction. For this study, in 2000, questionnaires developed by the researcher were given to 320 households in Kwangju. resulting in 262 households with usuable data. The data were analyzed by various statistical methods such as frequency, percentile, correlation analysis, t-test, Anova, Multiple Regression analysis. The major findings of this study were as follows; 1) Financial attitudes were significantly different according to age and monthly savings 2) Financial communication was significantly different according to age and financial subjective variables. 3) Financial satisfaction was significantly different according to monthly income, monthly savings, monthly living costs, debt, financial subjective variables and financial communication. The set of socio- economic characteristics variables accounted for 3% of the variance in the financial satisfaction. But the addition of subjective characteristics variables, financial attitude, financial communication resulted in an $R^2$ change of 20, 23, 26%.

• Journal of the Korean housing association
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• v.10 no.3
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• pp.221-229
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• 1999

The purpose of this study is to investigate the housing affordability of multi-family dwelling in Seoul and to systemize the housing expenditure patterns and housing affordability according to household and housing characteristics. Housing expenditures are basically composed of the payments of four major items. including utilities. home alteration and interior furnishing. home mortgage debt. and monthly rent. Housing affordability index as operationally defined in this study is Housing Expenditure-to-Income Ratio (HEIR). The ratios were computed for each of the four housing expenditure items. Data for 465 multi-family dwellers were gathered from the structured questionnaire. The results showed the differences between household and housing characteristics on housing expenditure levels and HEIR. In addition. this differences had influence on future housing choice behavior. The analysis on the variables of housing choice behavior showed the result that user cost considering capital gains were less important. comparing those of early 1990's.

• The Journal of the Korea Contents Association
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• v.21 no.12
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• pp.906-917
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• 2021

This study focused on real estate rental income, which is being interested as a means of preparing for old age in the age of low growth and aging. Rental income is seen to function as a safety net of society at a time when it is necessary to live a difficult old age due to the disconnection of income and the extension of the average life span. Therefore, this study conducted the following study on 1,025 households that own rental real estate nationwide. First, the relationship between the characteristics of the household of the rental real estate owner and the real estate rental income was analyzed, and second, it examined whether there is a difference in rental income between the group that engages in income activities other than rental income and the group that only has rental income without income activities. As a result of the analysis, among the demographic and sociological characteristics, gender and spouse were identified as significant variables in rental income. Among the economic characteristics, income and total debt were found to be significant variables. In the case of income activities, rental income was low, and rental income was high when the total debt was high. However, if interest rates rise and the economic recession is prolonged due to unpredictable causes, the owner may suffer from double-use. In preparation for this, it is necessary to review real estate policy alternatives such as easing the period of real estate holdings.