• Title/Summary/Keyword: Financial structure

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Mitigating the Shocks: Exploring the Role of Economic Structure in the Regional Employment Resilience

  • Kiseok Song;Ilwon Seo
    • Asian Journal of Innovation and Policy
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    • v.12 no.3
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    • pp.323-344
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    • 2023
  • This study investigates the resilient structural characteristics of a region by assessing the impact of the financial crisis. Utilizing panel data at the prefecture level for metropolitan cities across pre-shock (2006-2008), shock (2009), and post-shock (2010-2019) periods, we calculated an employment resilience index by combining the resistance and recovery indices. The panel logit regression measures the influences of the region's industrial structure and external economic factors in response to the global financial crisis. The results revealed that the diversity index of industries contributed to the post-shock recovery bounce-back. Additionally, the presence of large firms and industrial clusters within the region positively contributed to economic resilience. The specialization and the proportion of manufacturing industries showed negative effects, suggesting that regions overly reliant on manufacturing-centered specialization might be vulnerable to external shocks. Furthermore, excessive capital outflows for market expansion were found to have a detrimental impact on regional economic recovery.

Parallel Implementation of Scrypt: A Study on GPU Acceleration for Password-Based Key Derivation Function

  • SeongJun Choi;DongCheon Kim;Seog Chung Seo
    • Journal of information and communication convergence engineering
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    • v.22 no.2
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    • pp.98-108
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    • 2024
  • Scrypt is a password-based key derivation function proposed by Colin Percival in 2009 that has a memory-hard structure. Scrypt has been intentionally designed with a memory-intensive structure to make password cracking using ASICs, GPUs, and similar hardware more difficult. However, in this study, we thoroughly analyzed the operation of Scrypt and proposed strategies to maximize computational parallelism in GPU environments. Through these optimizations, we achieved an outstanding performance improvement of 8284.4% compared with traditional CPU-based Scrypt computations. Moreover, the GPU-optimized implementation presented in this paper outperforms the simple GPU-based Scrypt processing by a significant margin, providing a performance improvement of 204.84% in the RTX3090. These results demonstrate the effectiveness of our proposed approach in harnessing the computational power of GPUs and achieving remarkable performance gains in Scrypt calculations. Our proposed implementation is the first GPU implementation of Scrypt, demonstrating the ability to efficiently crack Scrypt.

The Relationship between Insider Ownership and Financial Policy (기업소유구조와 재무정책의 상호관련성에 관한 연구 - 자본구조, 투자 및 배당을 중심으로 -)

  • Cho, Ji-Ho;Kim, Chun-Ho
    • The Korean Journal of Financial Management
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    • v.22 no.2
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    • pp.1-41
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    • 2005
  • In the literature, much research has been focused on the relationships between financial policies and corporate valuation, including the effects that internal equity and capital structure have on corporate value, as well as how capital structures, investments and dividends relate to one another. However, comprehensive studies considering three facets of financial policies, namely capital structures, investments, and internal equity altogether, are scant. This study follows 361 companies listed on the Korean Stock Exchange, excluding financial institutions, from 1996 to 2002. Using 3SLS methods, an empirical analysis was conducted of the relationships among capital structures, investments, dividends, and internal equity and the results are summarized. Capital structures were found to be negatively related with investments, while investments were mainly related to dividends. Dividends were positively related with internal equity, simultaneously affecting capital structures. We were not able to find any clear evidence of a direct relationship between internal equity and capital structures; however they seemed to be indirectly related. Thus, there seems to be mutual relationships between financial policies and internal equity.

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A Study on the Direction of Fisheries Finance Policy in Korea (한국수산금융정책의 방향)

  • 김경호
    • The Journal of Fisheries Business Administration
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    • v.29 no.1
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    • pp.27-63
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    • 1998
  • This paper focuses on the history of fisheries finance in Korea, especially the role of fisheries finance after the establishments of korean fisheries cooperative. We can say that our fisheries was influenced greatly by the fisheries finance. It may be preyed by the facts that our fisheries experienced a great growth right after the input of big fisheries finance. The products of fisheries has increased from 1962 to now And the structure of the fisheries has improved. But there were unequal development in the each sectors of fisheries. Though the deep sea fishery and farming has developed faster, coastal fishing that are absorbing nearly 90% of fisheries population has stagnated. Of course it was because of unequal financial assistance by Authority. So to improve fisheries evenly, it is very important to overcome various problems that have encountered including the new circumstances like the WTO. For this, lots of steps should be taken. They can be summarized as follows. 1) It may be inevitable to see a rising costs in the deep sea fishery because of the declaration of EEZ by almost every nation. 2) So coastal fishing should be getting more important. It is necessary to improve the structure of coastal fishing and we should be ready to prepare various alternatives far self-sustained growth in coastal fishing. 3) Especially fisheries finance should play more active role. 4) Self-sustainable growth means a fishery with full compatability. For full compatability it is necessary to give financial supports far making fishing ground and equipping anti-pollution system and labour saving apparatus etc. 5) Also to raise the ratio of self-support in fisheries products it is necessary to give financial support to traditional financial system. 6) Moreover it is necessary to guide utilization of finance supplied. For this the committee that is consists of professional people in that field is strongly asked. This committee should be entitled to decide and coordinate the selection of projects, allocation of finance, method of utilization and evaluation of projects etc.

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Quality of Life of Elderly Women Living alone or with the Spouse -With a focus on the family consumer and hosing life- (대도시 단독가구 여자노인의 생활의 질 향상을 위한 연구 - 가족.소비.주거생활을 중심으로-)

  • 제미경
    • Journal of Families and Better Life
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    • v.13 no.4
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    • pp.101-114
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    • 1995
  • The purpose of this study was to investigate the factors which influenced the quality of life of elderly women living alone or with the spouse. A survey using interview was administered to 221 elderly women living in Seoul and Pusan The major findings were as follows: 1) The family life satisfaction of elderly women was determined by the quality of relationship with her eldest son's wife shared activities financial strain and location. The determinants of consumer life satisfaction were financial strain materialism tenure and the number of income sources, Housing life satisfaction was influenced by the convenience of neighborhood facilities tenure and housing structure type. 2) The quality of relationship with her eldest son's wife social activities financial strain tenure and the reason for independent household formation explained the variance of the life satisfaction about 29% by using a stepwise multiple regression method.

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A Study on Financial Sharing Economic Business Model by the Digital Technology Development (디지털기술의 발달에 따른 금융부문의 공유경제 비즈니스모델 탐색)

  • Song, Keyong Seog
    • Journal of Information Technology Applications and Management
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    • v.21 no.4_spc
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    • pp.485-499
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    • 2014
  • Sharing Economy is the modern main item with ICT Development. Of course sharing economic item is the old and long run mainstream, but by the ICT technological development sharing economy is the fostering and affluent factors in the world economic growth. Though, in Korea, till now sharing economy is minimal, that will growth sharply. We can track various business models of sharing economy. Sharing economy is to buy use right not ownership. With the sharing economic business model wee can make also financial sharing model. In finance model we can divide two kind models. First, we can trace small size lending model with p2p type. And second, we can make financial information transaction model. But till now sharing economic system is not activated, because of many reasons. To activate, first we have to set law and various standards, and also government actively support many sharing economy firms and institutions. To catch up developed countries in the field of sharing economy we have to make aggressive and flexible rules and standards.

A Study on Improvement of Import Insurance for Importers

  • Kim, Jae Seong
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.60
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    • pp.195-209
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    • 2013
  • South Korea, despite the financial turbulences has marked the trade volume of USD 1 trillion and marked $7^{th}$ largest exporter in 2013. Approximately 40% of the entire import of Korea was for export. In the South Korean trade structure, import and export are closely related, requiring proactive import financial assistance policies. Recognizing this, K-sure has made import insurance policy available on the market since July 2010. The K-sure insurance policy targets both financial institutions and importers. This is the reason why this research seeks to review the import insurance terms for importers and compare with foreign import insurance products to find out ways to improve. K-sure's import insurance for importers is to cover a loss of a policyholder when the policyholder or importer domestically addressed made a prepayment but cannot receive goods. The import insurance is applied to import transactions of goods or resources. K-sure's import insurance coverage needs to be expanded to intermediary trade and consignment processing trade, etc. In this sense, a more systematic educational program should be introduced about K-sure's import insurance.

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Analysis On the Retiring Baby Boomers' Impact on the Real Estate Market and How the Financial Sector Should Respond to the Resulting Changes (베이비붐 세대 은퇴로 인한 주택시장의 변화와 금융권의 대응방안 연구)

  • Jeon, In-Su;Min, Guy-Sik
    • The Journal of the Korea institute of electronic communication sciences
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    • v.6 no.6
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    • pp.921-928
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    • 2011
  • As the Baby Boom Generation continues to age and face retirement, they are expected to reduce the overall demand for housing and liquidate assorted assets, triggering significant changes in the real estate market. With that in mind, this report analyzes the characteristics and the asset structure of the average Korean Baby Boomer to better understand the impact their retirement will have on the real estate market and what actions the domestic financial institutions should take in response.

The Pricing of Corporate Common Stock By OPM (OPM에 의한 주식가치(株式價値) 평가(評價))

  • Jung, Hyung-Chan
    • The Korean Journal of Financial Management
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    • v.1 no.1
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    • pp.133-149
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    • 1985
  • The theory of option pricing has undergone rapid advances in recent years. Simultaneously, organized option markets have developed in the United States and Europe. The closed form solution for pricing options has only recently been developed, but its potential for application to problems in finance is tremendous. Almost all financial assets are really contingent claims. Especially, Black and Scholes(1973) suggest that the equity in a levered firm can be thought of as a call option. When shareholders issue bonds, it is equivalent to selling the assets of the firm to the bond holders in return for cash (the proceeds of the bond issues) and a call option. This paper takes the insight provided by Black and Scholes and shows how it may be applied to many of the traditional issues in corporate finance such as dividend policy, acquisitions and divestitures and capital structure. In this paper a combined capital asset pricing model (CAPM) and option pricing model (OPM) is considered and then applied to the derivation of equity value and its systematic risk. Essentially, this paper is an attempt to gain a clearer focus theoretically on the question of corporate stock risk and how the OPM adds to its understanding.

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