• Journal of Navigation and Port Research
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• v.47 no.4
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• pp.246-255
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• 2023

Public conflicts in the port sector can cause additional social costs and delay the supply of port infrastructure, which can negatively affect local industries and national competitiveness. Although the importance of conflict management in the port sector is gradually increasing, there is still no systematic conflict management countermeasure. Therefore, in this study, the limitations of the current conflict management system in the port sector were considered, and a Delphi survey was conducted targeting experts and stakeholders in the port sector and conflict management. In addition, criteria for diagnosing conflicts in the port sector, causes of conflicts, proactive management measures, and ex post solutions were derived. The results of the Delphi survey analysis showed that the biggest causes of conflict were the absence of stakeholder opinion collection, consultation, and communication tools. Preliminary conflict management measures including a public deliberation process to collect local opinions and discuss development directions before deciding on specific issues, and ex post conflict resolution measures including investigation of causes of conflicts and objective personnel management in the process of preparing alternatives (e.g., securing reliability) were determined as the most important factors. In addition, based on the results obtained in this study, conflict management techniques for each phase of the port development project were presented. These findings are expected to be used as a useful reference material to reflect the port sector, which has not been included in the "Public Institution Conflict Management Manual (2016)" of the Office for Government Policy Coordination.

• Journal of Korean Society for Quality Management
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• v.43 no.3
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• pp.397-408
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• 2015

Purpose: Express mail service(EMS) supplied by 'Korea POST'is an international postal service which brings letters, documents and parcels to a destination abroad in the fastest and safest way. This service is in a tough competition with global companies such as TNT, FedEx, DHL or UPS. To build an effective strategy for being competitive, an intensive study on EMS service quality should be accomplished from a customer's perspective. Methods: Kano model and improvement gap analysis are used to categorize and prioritize EMS service quality attributes. A 5-point Lickert scale is employed to apply the Kano model and improvement gap analysis. Each quality attribute can be classified as weak in comparison with competitors, critical for improvement, or potentially competitive. Results: Price, on-time delivery and delivery quality are to be kept as is; fast delivery, parking convenience and staff expertise can be potentially competitive; and the other attributes are considered to be critical for improvement. Conclusions: Fast reimbursement and proper compensation when shipping items are lost or damaged are to be improved with high priority. Efforts to secure fast delivery, parking convenience and staff expertise are needed to be competitive in the future.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.141-176
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• 2008

This study provides an analysis of ex post efficient outcome, which can be said an objective of distressed restructurings, using the stock return of listed companies. The findings of this study are as follows: First, upon completing the distressed restructurings, reorganization and workout cases showed positive announcement effects, which was statistically significant. Also, composition cases displayed a positive value, but it was not statistically significant. Second, with respect to post-restructuring long-run stock performance, reorganization and composition showed underperformance after completion. However, workout cases showed overperformance after the completion. Third, multiple regression analysis to find factors affecting post-restructuring long-run stock performance suggests that higher asset decrease(ASSETCH), shareholder concentration (OWNCEN), largest shareholders' stake(OWN) have more positive impacts on long-run performance. However, change of the largest shareholder(OWNERCH) has negative impacts on long-run performance. Finally, change of the largest shareholder is a negative factor in the performance of the distressed restructurings. Therefore, this study implies that if M&A is used as a way of early completing the distressed restructurings, prudent judgment is required on whether a firm can recover its competitiveness and is likely to be economically viable again.

• Korean Management Science Review
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• v.33 no.4
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• pp.51-64
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• 2016

The maximum weight of single stock in mutual fund is limited by regulations to enforce diversification. Under incomplete information with added constraints on portfolio weights, enhanced performance had been reported in previous researches. We analyze a weight vector to examine the effects of additional constraints on the portfolio's performance by computing the Euclidean distance from the in-sample tangency portfolio, as opposed to previous researches which analyzed ex-post return only. Empirical experiment was performed on Mean-variance and Minimum-variance model with Fama French's 30 industry portfolio and 10 industry portfolio for the last 1,000 months from August 1932 to November 2015. We find that diversification-constrained portfolios have 7% to 26% smaller Euclidean distances with the benchmark portfolio compared to those of unconstrained portfolios and 3% to 11% greater Sharpe Ratio.

• 한국디지털정책학회:학술대회논문집
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• 2006.06a
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• pp.113-123
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• 2006

The purpose of this paper is twofold; 1) to evaluate the efforts of participatory government in regulatory reform, 2) to propose the strategies and tasks for future regulatory reform in Korea. An ex-post evaluation model for regulatory performance is applied to process, output, and outcome of the regulatory reform. The results of the evaluation show that there is still room for improvement in many aspects of regulatory reform. While there has been substantial advance in regulatory quality and management, carefully planned strategies are essential for Korean regulatory reform to move to the next stage of regulatory reform. Thus, based on the evaluation, future strategies and tasks for regulatory reform are presented as short-term tasks, mid to long range tasks, and continuous tasks.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.489-510
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• 2018

Institution-based Technology Business Incubators are on the rise in India, as a means of promoting innovation-based tech start-up ecosystems, due to increased policy initiatives. Against this background, we have traced the origin and process of building a start-up ecosystem in IIT Madras, Chennai of India, based on semistructured interviews held with the stakeholders of the ecosystem. Subsequently, we have ascertained the key components of IIT Madras start-up ecosystem, and the process of incubation comprising pre-incubation, incubation and post-incubation phases. Finally, we have derived the key lessons from the ecosystem development experience and incubation process which enable generation of start-ups from both students and faculty, apart from alumni and ex-industry executives. Though this ecosystem model has emerged over a period of time through learning and experience, the ecosystem is able to generate more than 100 start-ups, majority of them being from students and faculty. Thus, the evolved start-up ecosystem of IIT Madras is able to generate faculty-supported and student-led entrepreneurship successfully.

• The Journal of Fisheries Business Administration
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• v.41 no.1
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• pp.73-91
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• 2010

The objective of this study is to examine the hedging effectiveness of shrimp futures market. Hedging effectiveness is measured by OLS model based on rolling windows. Analysis data are obtained from Kansai Commodities Exchange in Osaka and are weekly data of frozen shrimp futures and cash prices in the time period from July 9, 2003, to May 9, 2007. The empirical results are summarized as follows:First, the correlation coefficients between the nearby futures price changes and the cash(16/20) price changes are very low and have range from 0.141 to 0.208 values. Second, the minimum variance hedge ratios($\hat{\beta}$) are all statistically different from 0 at the 5% level and range from 0.0477 to 0.5039 values excluding Indian shrimps(26/30). Ex post hedging effectiveness, as measured by the coefficient of determination, $R^2$, is relatively very low and range from a low of 0.4% for west-south Indian shrimps(26/30) to a high 4.3% for Vietnamese shrimps(16/20). Third, ex ante hedging effectiveness, as measured by out-of-sample hedging period, is also very low and range from a low of -4.4% for west-south Indian shrimps(21/25) to a high of 3.4% for Vietnamese shrimps(16/20). This indicates that the shrimp futures market doesn't behave as risk management instrument of shrimp spot.

• Journal of Information Technology Applications and Management
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• v.11 no.3
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• pp.1-21
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• 2004

To meet the needs of the information age, the Korean government has placed a high priority in building the IT -capable workforce. Though a sizable financial resource was committed in implementing the policy, its effectiveness was not examined yet. The policy for the workforce development should be assessed continuously so that any misdirections are detected and redressed. The present study addresses four potential problems that would not allow the government to switch from a quantity-based policy to a quality-based policy. These are ① Korean universities' labor supply chain. ② moral hazard problems. ③ financial capacity of students, ④ horizontal policy orientation. The paper also proposes solutions to the mentioned problems. The government should foster an environment in which provide the concerned parties(universities. private institutions. students. etc,) with incentives to participate actively and promote the market principle of labor supply and demand. Such an ex-ante approach is believed to improve the system's efficiency compared to the extant approach based on ex-post KPI figures. If the four issues are not redressed. the market failure is likely to occur. The government should not make direct involvement in developing manpower, but rather be a linchpin to pull all concerned parties together. By doing so. the government should be able to fill the gap among parties in the system. One government role would be like defining workforce categories and promoting their career paths. Such role will also trigger universities and private institutions to pursue differential strategies along the supply chain of a particular workforce type.

• The Korean Journal of Financial Studies
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• v.7 no.1
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• pp.133-152
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• 2001

본 연구에서는 KOSPI 200 옵션과 KOSPI 200 선물의 상대적 가격 형성이 적정하게 이루어지고 있는가를 검증하였으며, KOSPI 200 옵션시장과 KOSPI 200 선물시장 사이의 상대적인 가격불균형을 이용한 차익거래(arbitrage) 기회 빈도 및 차익거래 수익성에 대한 실증분석을 시행하였고, 사후적(ex-post) 차익거래 수익성, 사전적(ex-ante) 차익거래 수익성, 동태적 차익거래 수익성에 대한 분석을 시행하였다. 분석기간 중 KOSPI 200 옵션시장과 선물시장 사이의 가격불균형을 이용한 차익거래 기회가 한국증권거래소 회원사에게 빈번하게 발생하였다. 한국증권거래소 비회원사의 경우에는 전체 관측도수 중 14.8%의 경우에만 차익거래 기회가 존재하였고 사후적 차익거래 이익 평균은 0.229이었으며, 한국증권거래소 회원사의 경우에는 61.8%의 경우에 차익거래 기회가 존재하였고 사후적 차익거래 이익 평균은 0.140이었다. 사전적 차익거래 수익성 분석 결과 한국증권거래소 비회원사의 경우에는 사전적 차익거래 이익 평균은 0.149이었으며, 한국증권거래소 회원사의 경우에는 사전적 차익거래 이익 평균이 0.121로 나타나 사후적 차익거래 이익 평균에 비하여 낮은 수준을 나타냈다. 동태적 차익거래 수익성 분석 결과 한국증권거래소 비회원사의 경우에는 동태적 차익거래 이익 평균은 0.561이었으며, 한국증권거래소 회원사의 경우에는 동태적 차익거래 이익 평균은 0.265로 나타나 동태적 차익거래 전략이 효과적으로 이용될 수 있는 차익거래 전략임을 보여주었다.

• Asian-Australasian Journal of Animal Sciences
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• v.27 no.3
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• pp.439-446
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• 2014

Many studies on methane ($CH_4$) and nitrous oxide ($N_2O$) emissions from livestock industries have revealed that livestock production directly contributes to greenhouse gas (GHG) emissions through enteric fermentation and manure management, which causes negative impacts on animal environment sustainability. In the present study, three essential values for GHG emission were measured; i.e., i) maximum $CH_4$ producing capacity at mesophilic temperature ($37^{\circ}C$) from anaerobically stored manure in livestock category ($B_{0,KM}$, Korean livestock manure for $B_0$), ii) $EF_{3(s)}$ value representing an emission factor for direct $N_2O$ emissions from manure management system S in the country, kg $N_2O-N$ kg $N^{-1}$, at mesophilic ($37^{\circ}C$) and thermophilic ($55^{\circ}C$) temperatures, and iii) $N_{ex(T)}$ emissions showing annual N excretion for livestock category T, kg N $animal^{-1}$ $yr^{-1}$, from different livestock manure. Static incubation with and without aeration was performed to obtain the $N_2O$ and $CH_4$ emissions from each sample, respectively. Chemical compositions of pre- and post- incubated manure were analyzed. Contents of total solids (% TS) and volatile solid (% VS), and the ratio of carbon to nitrogen (C/N) decrease significantly in all the samples by C-containing biogas generation, whereas moisture content (%) and pH increased after incubation. A big difference of total nitrogen content was not observed in pre- and post-incubation during $CH_4$ and $N_2O$ emissions. $CH_4$ emissions (g $CH_4$ kg VS-1) from all the three manures (sows, layers and Korean cattle) were different and high C/N ratio resulted in high $CH_4$ emission. Similarly, $N_2O$ emission was found to be affected by % VS, pH, and temperature. The $B_{0,KM}$ values for sows, layers, and Korean cattle obtained at $37^{\circ}C$ are 0.0579, 0.0006, and 0.0828 $m^3$ $CH_4$ kg $VS^{-1}$, respectively, which are much less than the default values in IPCC guideline (GL) except the value from Korean cattle. For sows and Korean cattle, $N_{ex(T)}$ values of 7.67 and 28.19 kg N $yr^{-1}$, respectively, are 2.5 fold less than those values in IPCC GL as well. However, $N_{ex(T)}$ value of layers 0.63 kg N $yr^{-1}$ is very similar to the default value of 0.6 kg N $yr^{-1}$ in IPCC GLs for National greenhouse gas inventories for countries such as South Korea/Asia. The $EF_{3(s)}$ value obtained at $37^{\circ}C$ and $55^{\circ}C$ were found to be far less than the default value.