• Title/Summary/Keyword: Financial management

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An Efficiency Comparison of Container Terminals in Korea and China by Using Super Efficiency-DEA and Malmquist Productivity Index (Supper Efficiency DEA와 Malmquist 생산성 지수를 활용한 한·중 컨테이너터미널의 효율성 비교)

  • Zheng, Xue-Bin;Kim, Yul-Seong
    • Journal of Korea Port Economic Association
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    • v.32 no.3
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    • pp.1-20
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    • 2016
  • The objective of this study was to select world top 20 major container terminals that belong to Korea and China as comparison units to analyze their efficiency and productivity trend. Super Efficiency Data Envelopment Analysis(SE-DEA) and Malmquist Productivity Index(MPI) models were applied to this study. Compared with previous studies, we narrowed down the scope of the comparison units to terminals and conducted more detailed analysis to present more meaningful implications to the actual operation. The different result from existing studies, SE-DEA analysis implied that the major terminals of Busan New Port showed similar efficiency and productivity with China's terminals. In MPI analysis, the average index of Korean and China's terminals is 1.051 and 1.049. The analysis indicates that the productivity was improved 5.1% and 4.9% annually. From 2012 to 2015, the average terminal TCI index of South Korea and China were 1.032 and 1.0318-the main factor which influences MPI. This means improving productivity mainly rely on investment in new equipment and technology upgrades rather than improve operational efficiency over the past few years. Future management decisions should consider more aggressive marketing to increase the volume and improve operational efficiency to enhance productivity. Further research should apply the overall efficiency of the methodology considering the financial diversification, terminal capacity, service levels, and other factors.

The Impact of Capital Structure for Ship Investments on Corporate Stability (선박투자자금의 조달구조가 기업의 안정성에 미치는 영향)

  • Cho, Seong-Soon;Yun, Heesung
    • Journal of Navigation and Port Research
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    • v.45 no.6
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    • pp.276-283
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    • 2021
  • The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.

Land Market of Ukraine: Problems of Legislative Regulation

  • Zemko, Alla;Bukanov, Hryhorii;Zadorozhnia, Halyna;Vinyukova, Olha;Yefimenko, Kristina
    • International Journal of Computer Science & Network Security
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    • v.21 no.12spc
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    • pp.459-462
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    • 2021
  • The article examines the main problems of land market formation in Ukraine. The article is devoted to the study of problems and prospects of land market introduction after the abolition of the ban on alienation. The advantages and disadvantages of lifting the moratorium on the purchase and sale of agricultural land are highlighted. The experience of such European countries as France, Germany, Latvia, Romania and Poland in regulating the market of agricultural lands is analyzed. The historical stages of market formation, features of state policy in this area are considered. The authors found that in these countries the market for agricultural land is well developed and works effectively, which has positive consequences for the economy of these countries. After analyzing the experience, we identified common elements of an effective mechanism for regulating the land market in European countries, which can be implemented in Ukraine. It is emphasized that after the opening of the land market it is necessary to prevent the concentration of a large number of agricultural lands in the hands of one person or close persons and it is necessary to create an effective supervisory body, whose main functions will be supervising sales prevention of speculation in the land market. Emphasis is placed on the need to improve legislation in the field of land, organizational and informational conditions for land reform. The Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Concerning the Circulation of Agricultural Land" was analyzed, the adoption of which put an end to the systematic extension of the moratorium on the sale of agricultural land. The positive aspects of such reservations are noted, such as the gradual introduction of the land market, quantitative restrictions, the lower limit of the value equivalent, which can not be less than the normative monetary value. At the same time, the problem is that the lack of an imperative norm on termination of the lease agreement in case of refusal of the lessee to purchase such land at a price not lower than expert assessment, will negatively affect its price formation and actually make the landlord hostage.

Two Economic Crises, Unemployment, Working Poor, and Gender: Explaining the Dynamics of the Risk Patterns of Suicide in South Korea (두 번의 경제위기와 실업, 노동빈곤, 그리고 젠더: 한국 자살 위험양식의 역동적 변화에 대한 시론)

  • Moon, Dasuel;Chung, Haejoo
    • 한국사회정책
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    • v.25 no.4
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    • pp.233-263
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    • 2018
  • This study sought to identify gender-specific mechanisms of increased suicide rates during economic crises in South Korea. In order to address research aims, we focused on two international economic crises: IMF financial crisis in 1997, and international recession in 2008. This study provides three main findings. First, different mechanisms increased suicide rates during the two economic crises. Particularly, the high level of unemployment raised suicide rates during the 1997 IMF while the high level of working poor in the 2008 recession. Second, suicidal risk patterns for men and women differed at each period. The 1997 crisis which mostly affected full-time permanent workers had had relatively greater impacts on men suicide, whereas the 2008 crisis which affected precarious workers had done on women suicide. Finally, our finding indicated that these gender-specific risk patterns had been derived from the gendered labour market and male-friendly social policy. Placing women at the periphery of the labor market and using them as a buffer in times of crisis, governments failed to protect them from their economic difficulties. Suicide is fundamental and important public health and social problems. These findings suggest that the national suicide prevention strategy should pay attention to the social determinants of suicide through gendered as well as population health perspectives.

Strategic GSCM of the Multinational Enterprises and its impact on the Market Performance (다국적기업의 전략적 그린 SCM 구축과 시장성과에 관한 실증적 연구)

  • Kim, Gil-Sung
    • International Area Studies Review
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    • v.15 no.3
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    • pp.513-532
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    • 2011
  • Green supply chain management(GSCM) has emerged as a key approach for firms seeking to become sustainable environmentally. GSCM is a system in which the firm takes life cycle responsibility of the products through material recycling, environment-friendly production, and reverse logistics in addition to the classical operations in a supply chain. This paper endeavors to identify the relationship between the GSCM practice implementation and firms' performance among a sample of Korean manufacturing firms. Based on a literature review, eight hypotheses are put forward. First of all, a factor analysis was conducted to derive groupings of GSCM practice from the survey data which included 54 responses. Then, the first regression was conducted to examine the link between GSCM practice implementation and firms' financial performance. The result shows that green purchasing and green production are significant. The second regression was conducted to examine the impact of GSCM practice implementation on the firms' competitiveness. The result reveals that green purchasing, green production, and reverse logistics are positively signifiant.

The Analysis of Experience and Requirement of Field Practice in Pre-service Education Perceived by Vocational Teachers (전문교과 교원이 인식한 양성단계에서의 산업체 현장실습 경험 및 필요성 분석)

  • Lee, Chan;Jeon, Yeong-Uk;Choi, Yu-Hyun;Cho, Kyung-Hee;Ryu, Ji-Eun;Jung, Bo-Young;Lee, Su-Gie
    • Journal of vocational education research
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    • v.35 no.6
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    • pp.21-38
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    • 2016
  • The purpose of this study is to analyze an experience of field practice perceived by vocational teachers. Data for analysis were collected from 689 vocational teachers who participated in the training at the Center for in-service teacher education in the School of Agriculture and Life Sciences, Seoul National University and at the Center for in-service teacher education of Chungnam National University. After screening, 685 responses were used in the analysis. As a result, it turned out that only 112 vocational teachers(16.5%) participated in the field practice for more than 4 weeks when they were in pre-service education. However, vocational teachers seemed to perceive that experience of field practice was generally required in pre-service education(average 4.07). In-depth questionnaire was conducted on 143 respondents who replied that they participated in field practice program for more than 4 weeks and those who participated in the program for less than 4 weeks but completed the paperwork. Most of vocational teachers who participated in field practice were placed in small and medium sized enterprises, stayed at home or relatives' home and commuted by the bus or subway. In this research, 34.8% of the vocational teachers who participated in field practice received financial compensation and 80.3% of the teachers got credit recognition. The perception of satisfaction on field practice program was found to be moderate(average 3.51).

A Necessary Conditions of Building University Archives: For the Tentative Application of an Immature Archival Method and Program prior to Building Archives (대학기록관 설립의 필요조건: '미성숙한' 기록관리 방법의 시험 운용 방안)

  • Lee, Jong-Heup
    • The Korean Journal of Archival Studies
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    • no.3
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    • pp.33-64
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    • 2001
  • This essay introduces the basic method and program required to meet some necessary conditions of building university archives. By the phrase 'method and program', I intend the effective means of regularly but circumstantially controling the ways to the archival purposes proper which can be defined as the keeping of evidences and the broadening of information pool in terms of the evidential and informational natures or values of records. My starting point is about the matters of overcoming a standard method of induction which has long prescribed much passive procedures in the archival work. Considering the differences in the records and archives management-practices between West and Korea, I tentatively try to add some active elements to the archival work among which the collection for the expanding evidences and informations may firstly emphasized. While this collecting activity normally depends on the existing 'collections' and 'manuscripts', I cannot exclude the possibility of collections the materials, being likely to be registered in any poor or insufficient record groups. In the similar context, this kind of activity may and must be expanded beyond the university boundaries so at to arrange the cornerstones of archive-based local studies in the various disciplines. Here I premise another role of university archives, the role as 'science archives'. These archives within university archives seem likely to function in likewise the special collections within Western university libraries. What I mean here, however, is the archival groups purposedly gathered or acquisited according to more detail and narrower plan in order to meet the various demands from the different disciplines for the primary sources. The archival procedures from this revised method and program may, I hope, satisfy some of the preconditions of building university archives before the archives will actually function as a sub-institution of an university preserving legal, administrative and financial evidences, thus keeping identity and continuity of the university on the one hand, and as a local information center of supplying the archival contents on effectual demand from the field of local studies on the other. Finally, I conclude with a suggestion concerning the cooperation of all the parties of archival works. Proposing the 'Regional Research Center Program' in the field of technology and engineering as a model for the cooperation, I suggest that universities, private/public organizations, and central and local governments may work together for surveying the scattered ancient and modern documents as well as for building archives under the matching fund.

The Effect of Manager's Leadership Perceived by the Person in Charge of Cultural Arts Education on Job attitude and Performance (장애인복지관 문화예술교육 담당자가 인식하는 관리자의 리더십이 직무태도 및 운영성과에 미치는 영향)

  • Kim, Doo Young
    • 재활복지
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    • v.22 no.3
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    • pp.93-114
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    • 2018
  • The purpose of this study is to investigate the effect of manager's leadership perceived by the person in charge of cultural arts education of the welfare centers for people with disabilities on the job attitude and performance of the work. For the study, the questionnaire response data of 188 persons responsible for arts and culture education of the welfare centers for people with disabilities were analyzed. The main results of the study are as follows. As a result of analyzing the effect of manager 's leadership on the job attitude, it was found that conditional reward, which is a sub - factor of transformational leadership, intellectual stimulation and transactional leadership, And the exceptional management, which is a subordinate factor of intellectual stimulation and transactional leadership, has a positive effect on organizational commitment. Second, the analysis of the influence of the manager 's leadership perceived by the person in charge of cultural arts education of the welfare centers for people with disabilities on the operational performance showed that the intellectual stimulation, which is a sub - factor of transformational leadership, had a positive effect on the service quality. Therefore, managers should propose specific standards on objectives which organizations should accomplish in order to enhance job attitude and operational performance shown by workers in charge of edudation on cultural art at welfare center for the people with disabilities. If these objectives are accomplished, they need to be encouraged by suggesting financial rewards. In addtion, leadership that spurs constant efforts for addressing problems should be demonstrated.

An Empirical Analysis of Influencing Factors on Success of Equity Crowdfunding: By Industry and Funding type (투자형 크라우드펀딩의 성공 영향 요인 실증분석: 업종과 유형별 분류를 중심으로)

  • Kim, Jong-Yun;Kim, Chul Soo
    • The Journal of Society for e-Business Studies
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    • v.24 no.3
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    • pp.35-51
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    • 2019
  • The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effects on the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfunding for invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfunding projects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived from the influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.

A Classification Model for Illegal Debt Collection Using Rule and Machine Learning Based Methods

  • Kim, Tae-Ho;Lim, Jong-In
    • Journal of the Korea Society of Computer and Information
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    • v.26 no.4
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    • pp.93-103
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    • 2021
  • Despite the efforts of financial authorities in conducting the direct management and supervision of collection agents and bond-collecting guideline, the illegal and unfair collection of debts still exist. To effectively prevent such illegal and unfair debt collection activities, we need a method for strengthening the monitoring of illegal collection activities even with little manpower using technologies such as unstructured data machine learning. In this study, we propose a classification model for illegal debt collection that combine machine learning such as Support Vector Machine (SVM) with a rule-based technique that obtains the collection transcript of loan companies and converts them into text data to identify illegal activities. Moreover, the study also compares how accurate identification was made in accordance with the machine learning algorithm. The study shows that a case of using the combination of the rule-based illegal rules and machine learning for classification has higher accuracy than the classification model of the previous study that applied only machine learning. This study is the first attempt to classify illegalities by combining rule-based illegal detection rules with machine learning. If further research will be conducted to improve the model's completeness, it will greatly contribute in preventing consumer damage from illegal debt collection activities.