• Title/Summary/Keyword: Equity Ratio

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An Analysis on Expanding Construction Insurance and Estimating Necessary Budget (건설공사보험 확대 당위성 및 예산소요 분석 연구)

  • Kim, Myeongsoo
    • Korean Journal of Construction Engineering and Management
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    • v.15 no.5
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    • pp.94-102
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    • 2014
  • This study analyzes necessity of expanding construction insurance and estimates required budget. Construction insurance is obliged by National Contract Law and Local Contract Law to protect projet owners and contractors from any unexpected construction risk such as financial losses in construction process. Currently the contracts of design-build and alternate-bid projects as well as PQ project, which are greater than 20 billion won, require the contractors to provide construction insurances in Korea. Insurance premiums are borne by the public project owner. Those contractors whose contract volume is less than 20 billion won burden all risks of projects at their cost. This causes equity problem. Because small-and-medium contractors are discriminated against large contractors since insurance-obliged projects are performed by large contractors and insurance premiums are borne by the public project owner. On the other hands, in all engineering projects, regardless of volume, insurance premiums are borne by the project owner. Therefore current regulation has to be improved, by expanding to all public projects. The average ratio of unobliged projects is 46%, in recent 3 years, prime cost of insurance companies is estimated 0.2%. Moreover considering risks of each construction type, prime cost of unobliged works is estimated as 0.13%. Hence additional necessary budget is estimated to be 2.09 billion won if total volume of public work is 3.5 trillion won. And 2.39 billion won is derived if total volume of public projects is 4 trillion won.

Colorectal Cancer Treatment and Survival: the Experience of Major Public Hospitals in South Australia over three Decades

  • Roder, David;Karapetis, Christos S;Wattchow, David;Moore, James;Singhal, Nimit;Joshi, Rohit;Keefe, Dorothy;Fusco, Kellie;Powell, Kate;Eckert, Marion;Price, Timothy J
    • Asian Pacific Journal of Cancer Prevention
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    • v.16 no.6
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    • pp.2431-2440
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    • 2015
  • Background: Registry data from four major public hospitals indicate trends in clinical care and survival from colorectal cancer over three decades, from 1980 to 2010. Materials and Methods: Kaplan-Meier productlimit estimates and Cox proportional hazards models were used to investigate disease-specific survival and multiple logistic regression analyses to explore first-round treatment trends. Results: Five-year survivals increased from 48% for 1980-1986 to 63% for 2005-2010 diagnoses. Survival increases applied to each ACPS stage (Australian Clinico-Pathological Stage), and particularly stage C (an increase from 38% to 68%). Risk of death from colorectal cancer halved (hazards ratio: 0.50 (0.45, 0.56)) over the study period after adjusting for age, sex, stage, differentiation, primary sub-site, health administrative region, and measures of socioeconomic status and geographic remoteness. Decreases in stage were not observed. Survivals did not vary by sex or place of residence, suggesting reasonable equity in service access and outcomes. Of staged cases, 91% were treated surgically with lower surgical rates for older ages and more advanced stage. Proportions of surgical cases having adjuvant therapy during primary courses of treatment increased for all stages and were highest for stage C (an increase from 5% in 1980-1986 to 63% for 2005-2010). Radiotherapy was more common for rectal than colonic cases. Proportions of rectal cases receiving radiotherapy increased, particularly for stage C where the increase was from 8% in 1980-1986 to 60% in 2005-2010. The percentage of stage C colorectal cases less than 70 years of age having systemic therapy as part of their first treatment round increased from 3% in 1980-1986 to 81% by 1995-2010. Based on survey data on uptake of adjuvant therapy among those offered this care, it is likely that all these younger patients were offered systemic treatment. Conclusions: We conclude that pronounced increases in survivals from colorectal cancer have occurred at major public hospitals in South Australia due to increases in stage-specific survivals. Use of adjuvant therapies has increased and the patterns of change accord with clinical guideline recommendations. Reasons for sub-optimal use of radiotherapy for rectal cases warrant further investigation, including the potential for limited rural access to impede uptake of treatments at metropolitan-based radiotherapy centres.

Investigations on the Financial Determinants of Profitability for Korean Chaebol Firms by applying Conditional Quantile Regression (CQR) Model (국내 재벌기업들의 수익성관련 분위회귀모형 상 재무적 결정요인 분석)

  • Kim, Hanjoon
    • The Journal of the Korea Contents Association
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    • v.14 no.12
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    • pp.973-988
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    • 2014
  • This study investigated one of the contemporary issues in the Korean capital market and two hypotheses of concern were tested on the financial determinants of profitability for the firms belonging to the Korean chaebols during the era of the post-global financial turmoil. The first hypothesis applying conditional quantile regression (CQR) estimation provided the evidence that leverage ratio, fixed asset utilization, and foreign ownership among the nine quantitative explanatory variables, had overall statistical significance relative to the book-valued profitability measure, while additional variables such as a firm's size, fixed and a proxy for the type of exchange market showed their strong impacts on the market-valued profitability indicator. Concerning the formulated 'extended' DuPont system, only two components of EBITDAEBIT and EMULTIPLIER revealed their prominent influence on ROE (Return on Equity) over the two tested periods (the years 2008 and 2012).

Spatial Inequalities in the Incidence of Colorectal Cancer and Associated Factors in the Neighborhoods of Tehran, Iran: Bayesian Spatial Models

  • Mansori, Kamyar;Solaymani-Dodaran, Masoud;Mosavi-Jarrahi, Alireza;Motlagh, Ali Ganbary;Salehi, Masoud;Delavari, Alireza;Asadi-Lari, Mohsen
    • Journal of Preventive Medicine and Public Health
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    • v.51 no.1
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    • pp.33-40
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    • 2018
  • Objectives: The aim of this study was to determine the factors associated with the spatial distribution of the incidence of colorectal cancer (CRC) in the neighborhoods of Tehran, Iran using Bayesian spatial models. Methods: This ecological study was implemented in Tehran on the neighborhood level. Socioeconomic variables, risk factors, and health costs were extracted from the Equity Assessment Study conducted in Tehran. The data on CRC incidence were extracted from the Iranian population-based cancer registry. The $Besag-York-Molli{\acute{e}}$ (BYM) model was used to identify factors associated with the spatial distribution of CRC incidence. The software programs OpenBUGS version 3.2.3, ArcGIS 10.3, and GeoDa were used for the analysis. Results: The Moran index was statistically significant for all the variables studied (p<0.05). The BYM model showed that having a women head of household (median standardized incidence ratio [SIR], 1.63; 95% confidence interval [CI], 1.06 to 2.53), living in a rental house (median SIR, 0.82; 95% CI, 0.71 to 0.96), not consuming milk daily (median SIR, 0.71; 95% CI, 0.55 to 0.94) and having greater household health expenditures (median SIR, 1.34; 95% CI, 1.06 to 1.68) were associated with a statistically significant elevation in the SIR of CRC. The median (interquartile range) and mean (standard deviation) values of the SIR of CRC, with the inclusion of all the variables studied in the model, were 0.57 (1.01) and 1.05 (1.31), respectively. Conclusions: Inequality was found in the spatial distribution of CRC incidence in Tehran on the neighborhood level. Paying attention to this inequality and the factors associated with it may be useful for resource allocation and developing preventive strategies in at-risk areas.

Metastatic Colorectal Cancer Treatment and Survival: the Experience of Major Public Hospitals in South Australia Over Three Decades

  • Roder, David;Karapetis, Christos S;Wattchow, David;Moore, James;Singhal, Nimit;Joshi, Rohit;Keefe, Dorothy;Fusco, Kellie;Buranyi-Trevarton, Dianne;Sharplin, Greg;Price, Timothy J
    • Asian Pacific Journal of Cancer Prevention
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    • v.16 no.14
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    • pp.5923-5931
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    • 2015
  • Background: Registry data from four major public hospitals indicate trends over three decades from 1980 to 2010 in treatment and survival from colorectal cancer with distant metastases at diagnosis (TNM stage IV). Materials and Methods: Kaplan-Meier product-limit estimates and Cox proportional hazards models for investigating disease-specific survival and multiple logistic regression analyses for indicating first-round treatment trends. Results: Two-year survivals increased from 10% for 1980-84 to 35% for 2005-10 diagnoses. Corresponding increases in five-year survivals were from 3% to 16%. Time-to-event risk of colorectal cancer death approximately halved (hazards ratio: 0.48 (0.40, 0.59) after adjusting for demographic factors, tumour differentiation, and primary sub-site. Survivals were not found to differ by place of residence, suggesting reasonable equity in service provision. About 74% of cases were treated surgically and this proportion increased over time. Proportions having systemic therapy and/or radiotherapy increased from 12% in 1980-84 to 61% for 2005-10. Radiotherapy was more common for rectal than colonic cases (39% vs 7% in 2005-10). Of the cases diagnosed in 2005-10 when less than 70 years of age, the percentage having radiotherapy and/or systemic therapy was 79% for colorectal, 74% for colon and 86% for rectum (&RS)) cancers. Corresponding proportions having: systemic therapies were 75%, 71% and 81% respectively; radiotherapy were 24%, 10% and 46% respectively; and surgery were 75%, 78% and 71% respectively. Based on survey data on uptake of offered therapies, it is likely that of these younger cases, 85% would have been offered systemic treatment and among rectum (&RS) cases, about 63% would have been offered radiotherapy. Conclusions: Pronounced increases in survivals from metastatic colorectal cancer have occurred, in keeping with improved systemic therapies and surgical interventions. Use of radiotherapy and/or systemic therapy has increased markedly and patterns of change accord with clinical guideline recommendations.

An Analysis of Panel Data on the Web-accessibility Policies of Local Governments in Korea (우리나라 웹 접근성 정책 영향요인 분석 - 16개 광역자치단체 패널데이터를 중심으로 -)

  • JIN, Sangki;HYUN, Joonho
    • Informatization Policy
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    • v.18 no.4
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    • pp.42-58
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    • 2011
  • This paper starts from one question: what are the key factors of the web accessibility policy, which is significant for realizing equity in the web and enhancing human dignity in the information society. To find significant factors for complying with web accessibility, this paper analyzes panel data of 16 Korean local governments (for five years: 2004-2009) according to the research design which is based on the demand and supply balance model and consists of four variables : 'legal and institutional environment (including legal infrastructure)', 'financial foundation (fiscal self-reliance ratio)', 'policy inputs (amount of imformatization budget, employee of information experts)'and 'policy demand (internet usage rate, the number of disabled people and elderly people)'. From the results of this study, this paper can explain the mechanism and impact factors on the web accessibility policy of Korean local governments. Some factors are critical to improve web accessibility: (1) the importance of policy demand, (2) the importance of policy inputs, (3) the importance of legal and institutional environment. Finally, this paper concludes with some suggestions to enhance the web accessibility capacity for Korean local governments: (1) improve awareness on web accessibility, (2) develop a standard and invest R&D on web accessibility, (3) foster experts in web accessibility.

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A Conceptual Scheme of International Marriage of Koreans and Analyses of the Marriage and Divorce Registration Data (한국인 국제결혼의 설명틀과 혼인 및 이혼신고자료의 분석)

  • Kim, Doo-Sub
    • Korea journal of population studies
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    • v.29 no.1
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    • pp.25-56
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    • 2006
  • This study attempts to review the increasing trend in international marriage of Koreans since 1990 and explore the pattern of socio-demographic characteristics of the married couples. This paper develops a conceptual scheme for changing pattern of nuptiality including an increase in international marriage. As the key forces behind the recent increase in international marriage of Koreans, the effects of rapid decline in fertility, rise in sex ratio at birth, urbanward migration of young women, expansion of gender-equity norms, and globalization are stressed. Micro-data from the marriage registration for the period $1990{\sim}2004$ and the divorce registration for the period $2000{\sim}2004$ are utilized. This study focuses on analyzing age at marriage, previous marital experience, education, occupation, and residence of the married couples. Attention is also focused on demographic characteristics of the divorced couples. Results of analyses reveal that there exists a great deal of diversity in international marriage of Koreans. A notable aspect is the profound differences between Korean men and women in the characteristics of their foreign spouses and themselves as well. Another prominent factor emphasized in the analysis is the nationality of foreign spouse. It is indicated that the stereotype of international marriage facilitated by marriage squeeze can be mainly applied to marriages between Korean men and foreign wives from China, southeast Asian countries and the CIS of the old Soviet Union. On the other hand, direct effects of value transformation and globalization are emphasized in the explanation of marriages between Korean men and foreign wives from more developed countries as well as marriages between Korean women and foreign husbands.

Chinese Growth Enterprise Market and Business Performance Analysis on Small and Medium Sized Firms and Venture Firms Before and After Listing (중국의 창업판시장과 중소벤처기업의 상장전후 경영성과 분석에 관한 연구)

  • Cui, Wen;Sun, Zhong Yuan;Chang, Seog Ju
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.3
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    • pp.129-138
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    • 2014
  • After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

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The Analysis of Economic Contribution of Character Industry in China (산업연관분석에 의한 중국 캐릭터 산업의 경제적 효과 분석)

  • Zhang, Xin-Dan;Yao, Jin-Ge;Lee, Hyuck-Jin
    • The Journal of the Korea Contents Association
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    • v.21 no.9
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    • pp.125-135
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    • 2021
  • Due to the lack of national consensus on the importance and value of the character industry and the lack of recognition of value as a national strategic industry, the development of the character industry is experiencing great difficulties. The purpose of this study is to analyze the economic effects of character industry in China to help establish policies and strategies for the character industry in the future. To this end, this study utilized the China 2017 Industrial Association Table. The analysis results are as follows. China's character industry has a lower production inducement effect than other industries with a column total of 3.45514, and a row total of 1.30015. This shows that China's character industry is still being produced by small and medium-sized companies with a low equity ratio. Second, in the character industry, the index of the sensitivity of dispersion representing the forward linkage effect is 0.01426 and the impact factor is 0.03790, which are all less than 1. Therefore, it can be said to be the final demand manufacturing type.Third, in China character industry's income induction is 0.47690 and the production tax induction effect is -0.04912. It can be seen that the character industry has less income induction and tax burden generated every time the final demand increases by one unit in the entire industry than in other industries.Despite the quantitative growth of the character industry in China, the impact on other industries is low and it is not playing a role as an income-generating industry. Structural improvement is needed for the qualitative development of China's character industry.

A Study of Financial Structure, Profitability, Growth and Financial Risk of Food Service Franchisor (외식산업프랜차이즈본사의 재무구조, 수익성, 성장성 및 재무위험에 관한 연구)

  • Choi, Hoang-Taig
    • The Korean Journal of Franchise Management
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    • v.5 no.1
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    • pp.85-108
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    • 2014
  • This study provides the information about size, financial structure, profitability and growth of franchisors using financial data(asset, liability, equity, sales volume, operating income and net income) in uniform franchise offering circular of fair trade commission. The data were collected from 1,050 franchisors in various business fields: fast food, family restaurant, bakery, agriculture & fishery and liquor shop in the uniform franchise offering circular in 2012 and 2011. Results of this study are as follows: For company size, median of total assets was KRW 675 million and the accumulated median assets rate was 0.48%, but the accumulated median company numbers were 49.9%, which showed small size. For financial structure, 525 companies were below 200% debt ratio, while 314 (29.9%) companies were in over 200% debt, and 211 (20.1%) companies were impaired in capital. These also showed financial structure was vulunerable. For profitability, median of ROA for total companies were only 4.72%, which showed low profitability. For growth, median of growth rate for sales were 7.57% per year, which showed mature industry. In overall, the results showed franchisors should improve their financial status.