• Title/Summary/Keyword: Financial Difficulties

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Land Bank Bond for the Diversification of Land Bank Financing Resources: Comparative Case Study and the Improvement of Legal, Accounting System (토지비축의 안정적 재원조달을 위한 토지은행채권 도입방안: 사례 비교를 통한 법·제도·회계처리 개선방안을 중심으로)

  • Lee, Jong-Kwon;Choi, Eun-Hee
    • Land and Housing Review
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    • v.3 no.4
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    • pp.333-341
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    • 2012
  • The financial resources for public land banking enacted by Public Land Banking Act (2009) are LH (Korea Land and Housing Corporation) contributions, LH Bond, Land Bank revenues, etc. But, in real, the efficient funding resource is mainly LH bond. In these days, LH has experienced deep financial distress, and difficulties in issuing it's bond. Therefore, Land Banking project also has been inactivated because of poor financial resources. As Land Banking project depending its financial resources mainly on LH Bond does not have financial sustainability, it is necessary to reform the fundamental funding structure. This is the starting point for the topic of this paper. This paper suggests to reform the funding structure, and to introduce Land Bank Bond guaranteed by Government, and also to modify the accounting method of Land Bank to separate the Land Bank accounts with LH accounts. The funding structure reform can be summarized as follows; In early stage of the Land Banking project, sufficient government support by guaranteeing the Land Bank Bond is necessary. Gradually, the portion of LH's contribution can be increased in company with LH's financial distress being solved and administration being normalized. When the project reached on the stage of maturity, cash inflows by selling the reserved land can exceed the cash outflows for reserve new land. To introduce the Land Bank Bond guaranteed by government, the Public Land Banking Act (2009) should be revised. Along with this, to modify the accounting method of Land Bank, the rule for public enterprise accounting system must be partially revised.

The Impact of COVID-19 Financial Support Policy and Entrepreneurship on Technological Innovation of SMEs : A Comparative Study on the Introduction of Smart Work (COVID-19 재정지원정책과 기업가정신이 중소기업혁신에 미치는 영향 : 스마트워크 도입 유무에 따른 비교 연구)

  • Jeon, Young-jun
    • Journal of Venture Innovation
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    • v.5 no.4
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    • pp.157-178
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    • 2022
  • The economy has deteriorated worldwide due to COVID-19, and the domestic economy has also been hit hard. Accordingly, the government implemented unprecedented financial support policies related to COVID-19 to solve the financial difficulties experienced by SMEs. In addition, as the spread of COVID-19 continued, the government implemented guidelines and measures along with recommendations for non-face-to-face contact. Organizations in the public and private sectors have introduced non-face-to-face work methods. Considering this situation, this study investigated the impact of COVID-19-related financial support policies on technological innovation of SMEs. External support is important for corporate innovation, but internal capabilities are also important. Therefore, the effect of entrepreneurship on product innovation was identified. In addition, as the non-face-to-face work method was activated, the effect of smart work was identified by comparing companies that introduced smart work and companies that did not. As a result of the analysis, entrepreneurship showed a positive (+) effect regardless of the introduction of smart work. Financial support policies related to COVID-19 were found to show mixed results according to the type of support.

The Mediating Effects of Difficulties in Emotion Regulation between Anger Expression and Interpersonal Problems of College Students (분노표현과 대인관계문제에서 정서조절곤란의 매개효과)

  • Lee, Myung-In;Seo, Hye-Young;Hwang, Soon-Jung
    • Journal of Digital Convergence
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    • v.19 no.1
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    • pp.295-305
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    • 2021
  • This study identifies the relationship between the anger expression and interpersonal problems of college students, and then confirms the influence on emotion regulation difficulties as a mediating effect. And, it was conducted to understand college students who complain of interpersonal problems and to provide basic data for developing programs that can solve their problems. As a result of the study, anger expression showed a positive correlation in interpersonal relations problem and emotion regulation difficulty, and interpersonal relations problem showed somewhat high positive correlation with emotion regulation difficulty. In addition, it was found that emotion control difficulties were partially mediated in the anger expression among college students and interpersonal relationships. In conclusion, we could see the need for future research to develop educational programs that reduce the difficulty of emotion control and lead to positive anger expression among college students, and intervention programs that can improve interpersonal relationships.

New Strategy of Potential-Based Customer Management: A Case of S-Card's ECI Approach (추정소득 분석을 통한 S카드사의 잠재가치 기반의 고객관리 전략)

  • Park, Jin-Soo;Chang, Nam-Sik
    • Information Systems Review
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    • v.9 no.2
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    • pp.129-147
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    • 2007
  • At the time the local credit-card companies plunged into a liquidity crisis in 2002, S-Card was urged to take into account the estimated customer income (ECI) to enhance its customer credit evaluation function for the first time in Korean financial industry. Before this new attempt by S-Card, most credit-card companies including S-Card had performed a customer's credit evaluation based on the customer's behavioral factors such as the amount of purchase on credit, debt payment, and financial history that is provided from the Credit Bureau. However, this approach failed to measure customer's potential value which is one of the major factors in judging the customer's ability to pay, and hence, led to difficulties in risk management. The purpose of this case study is to present the better approach to sophisticated risk management for financial firms in Korea by reviewing S-Card's process of customer income estimation and its application to risk management.

Elderly's Support Exchange between Parents and Grown-up Offspring (부모 자식 간 부양 교환에 관한 연구)

  • Kim, Sang-yoon;Kim, Han-Gon
    • The Journal of the Korea Contents Association
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    • v.16 no.12
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    • pp.677-694
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    • 2016
  • This study examines the differences of support exchange and factors impacting on the support exchange between the elderly and their grown-up children in 2011. Socioeconomic variables are introduced as independent variables. Emotional, physical, and financial support exchanges are used as dependent variables. Descriptive statistics and multiple analysis of variance are used for the statistical analysis. Findings of this study are as follows: First, the support exchanges between the grown-up children living with parents and elderly parents are significantly varied by the socioeconomic factors. Second, the support exchanges between the children not living with their parents and the elderly parents are significantly varied by the socioeconomic factors. A majority of the elderly are suffering from financial difficulties and they do not receive appropriate supports from their grown-up children. On the other hand, it turned out that the elderly parents are highly contributable to provide the emotional support for their family members, and provide the emotional support to their grown-up children.

An exercise algorithm for mezzanine products using artificial neural networks (인공신경망을 이용한 메자닌 상품의 행사 알고리즘)

  • Jae Pil, Yu
    • Journal of Korea Society of Industrial Information Systems
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    • v.28 no.1
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    • pp.47-56
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    • 2023
  • Mezzanine products are financial investment products with both bond and stock characteristics, which are mainly issued by low-grade companies in the financial market to secure liquidity. Therefore, bondholders investing in mezzanine products must make decisions about when they want to convert to stocks, along with whether they invest in mezzanine products issued by the company. Therefore, in this paper, a total of 2,000 learning data and 200 predictive experimental data with stock conversion events completed by major industries are divided, and mezzanine event algorithms are designed and performance analyzed through artificial neural network models. This topic is meaningful in that it proposed a methodology to scientifically solve the difficulties of exercising mezzanine products, which are of high interest in the financial field, by applying artificial neural network technology.

ESTABLISHMENT OF CDM PROJECT ADDITIONALITY THROUGH ECONOMIC INDICATORS

  • Kai. Li.;Robert Tiong L. K.;Maria Balatbat ;David Carmichael
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.272-275
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    • 2009
  • Carbon finance is the investment in Greenhouse Gas (GHG) emission reduction projects in developing countries and countries with economies in transition within the framework of the Kyoto Protocol's Clean Development Mechanism (CDM) or Joint Implementation (JI) and with creation of financial instruments, i.e., carbon credits, which are tradable in carbon market. The additional revenue generated from carbon credits will increase the bankability of projects by reducing the risks of commercial lending or grant finance. Meantime, it has also demonstrated numerous opportunities for collaborating across sectors, and has served as a catalyst in bringing climate issues to bear in projects relating to rural electrification, renewable energy, energy efficiency, urban infrastructure, waste management, pollution abatement, forestry, and water resource management. Establishing additionality is essential for successful CDM project development. One of the key steps is the investment analysis. As guided by UNFCCC, financial indicators such as IRR, NPV, DSCR etc are most commonly used in both Option II & Option III. However, economic indicator such as Economic Internal Rate of Return(EIRR) are often overlooked in Option III even it might be more suitable for the project. This could be due to the difficulties in economic analysis. Although Asian Development Bank(ADB) has given guidelines in evaluating EIRR, there are still large amount of works have to be carried out in estimating the economic, financial, social and environmental benefits in the host country. This paper will present a case study of a CDM development of a 18 MW hydro power plant with carbon finance option in central Vietnam. The estimation of respective factors in EIRR, such as Willingness to Pay(WTP), shadow price etc, will be addressed with the adjustment to Vietnam local provincial factors. The significance of carbon finance to Vietnam renewable energy development will also be addressed.

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A Study on the development of sponsors of social welfare facilities through marketing mix (마케팅 믹스에 의한 사회복지시설 후원자 개발에 관한 연구)

  • Cho, Woo-Hong
    • Journal of the Korea Society of Computer and Information
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    • v.14 no.5
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    • pp.195-200
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    • 2009
  • This study aims to speculate the development of sponsors of social welfare facilities through marketing mix. This is the time when the logics of economy is applied for the area of social welfare. Since July 2008 when the long-term care insurance system for the elderly executed, a number of social welfare facilities which depend on governmental budget have competed for various resources, but most of them have still had serious financial difficulties. As a supplementary method to overcome the financial problem, we have to develop how to excavate and manage sponsors who fit for conditions of the facilities to secure financial resources. To develop sponsors of social welfare facilities through marketing mix in this aspect, this study is to present strategic methods for sponsor development in seven factors developed by Fine(1992): product, price, promotion, place, producer, purchaser, and probing.

A Building of Investment Decision Model for Improving Profitabilty of Tramper Shipping Business (해운산업 수익성 제고 투자의사결정 모델구축에 관한 연구 - 부정기선 영업을 중심으로 -)

  • Kim, Weon-Jae
    • Journal of Korea Port Economic Association
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    • v.27 no.2
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    • pp.297-311
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    • 2011
  • This paper deals with a strategic investment decision model for improving investment profit in shipping industry. Despite the quantitative expansion of Korean shipping business, many shipping firms have suffered financial difficulties due to financial and operating risks that result from the characteristics of capital-intensive business as well as of volatility of shipping markets. As a result, managers in charge of making an investment decision, particularly in tramper business sector, are required to take both financial and operating risk factors into consideration. Put it differently, managers are strongly recommended to avoid these risks by ship asset play; buy-low and sell-high, which results in considerable capital gain and cost reduction. In addition, managers in shipping industry are also recommended to consider the ship chartering investment alternative when the freight markets show extreme volatility as the case of 2008 triggered by sub-prime mortgage financial crisis in USA. For example, the BDI suffered plunging down from 1000 in 2008 to 100 in 2010. Consequently, the 4th largest shipping company in Korea, DAEHAN Shipping Co., has collapsed primarily due to excessive tonnage expansion during the peak time of bulk market. In sum, the strategic investment decision model, suggested in this paper, is designed to include such factors as capital gain by asset play, timely chartering for alternative shipping service, and optimization of operating profit by tonnage adjustment in accordance with change in the shipping markets concerned.

Financial Ecosystem Development for Venture Capital Activation in Daejeon, Korea (대전지역 벤처창업 활성화를 위한 벤처 자금생태계 개선방안)

  • Choi, Jong-In;Bae, Kang
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.13 no.6
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    • pp.39-48
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    • 2018
  • Despite the fact that Daejeon has excellent technology infrastructures such as government-funded research institutes, Daedeok Innopolis, and KAIST, the infrastructure for initial investment and growth support for technological start-ups is not sufficient. In particular, the amount of venture capital supply in Daejeon is relatively low compared to other innovation infrastructures. The purpose of this study is to suggest the implications of the venture capital ecosystem in Daejeon area through the analysis of what evolution process has been undergoing and what improvements and complementary points are needed in the future. First, the role of public finance system should be strengthened in order to stimulate angel investment and private capital inflows to start-up companies. Second, in order to cultivate investment professionals in the region, it is necessary to grant local funds to local institutions, and to run investment expert training courses in universities. Third, cooperation between related agencies is needed to add accelerator functions to existing incubators and to foster new accelerators. Fourth, in order to expand the role of local governments, it is necessary to establish funds, to open innovation mindset of public officials, and to communicate effectively with the central government. Fifth, basic venture ecosystem infrastructures such as inflow of excellent manpower, prevention of technology deception, improvement of rechallenge environment should be expanded. Sixth, it is necessary to reorganize the step-by-step start-up financing policy of 'Establishment - Growth - Exit - Rechallenge'. This study is meaningful in that it has grasped the current status of venture start-up financial ecosystem in Daejeon, which is changing rapidly. In particular, it is different in that it identifies financial difficulties venture companies in Daejeon and finds ways to utilize existing financial ecosystem efficiently.