• Journal of Industrial Convergence
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• v.14 no.2
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• pp.33-38
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• 2016

The Korean shipbuilding industry, which started in the 1970s with the advance of three shipbuilding companies, has been ranked as the world's largest and most successful model of the heavy and heavy chemical industry in the world since the 1990s, and has become a driving force for Korea's economic growth for several decades, including job creation and trade surplus. The domestic shipbuilding industry has won a lot of orders in favorable market environment, expanded facilities and manpower, built many ships and delivered them to shipowners, earning a lot of foreign currency and creating a 'successful myth.' However, when the global economic crisis broke out in 2008, shipbuilding in Chosun was stagnant and shipbuilding orders sharply decreased.As the facility and manpower increased in the boom period, the economy and the facilities become overcrowded as a result of the crisis, signs of a crisis in 2013 begin to appear. In 2015, three major Korean shipbuilders lost more than 6 trillion won in operating losses. Now, Korea's shipbuilding industry is facing a crisis such as massive insolvency and restructuring. Would not it have been possible to prevent the loss and restructuring of a trillion won if we recognized the recession of the global economy and understood the appropriate timing of technological innovation and prepared countermeasures against the crisis? Therefore, we analyze trends and trends of global shipbuilding industry such as Europe, China, and Japan in the competition structure of the shipbuilding industry and identify the problems of our shipbuilding industry and suggest suggestions.

• International Area Studies Review
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• v.18 no.3
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• pp.67-88
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• 2014

The Chinese stock market has increasingly strengthened its market power on other stock markets due to rapid growth of its economy. In this context, this study investigated return spillover effect as well as asymmetric volatility spillover effect using a VAR-Bivariate EGARCH model among stock markets(China, US, Japan, Korea). Furthermore, we conjectured the impact of 2008 global financial crisis on the spillover effect of the Chinese stock market. In our empirical results, the Chinese stock market has a weak return spillover effect to other markets(US, Japan, Korea), but after the global financial crisis, its return spillover effect becomes stronger among other stock markets. In addition, the Chinese stock market have strengthened its asymmetric volatility spillover effect on other stock markets after the Global financial crisis. As a result, the Chinese stock market has an strong influence on other stock markets.

• The Journal of the Korea Contents Association
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• v.19 no.9
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• pp.233-241
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• 2019

The purpose of this study is to empirically analyze whether the influence of foreign investors from the monitoring role in Korean capital market is observed differently in accordance with the global financial crisis situation. We collected a total of 2,919 firm data from 2003 to 2015 and performed the empirical tests between foreign investor ownership and firms' cost of equity capital separately according to the situation of the global financial crisis. From the empirical results, foreign investors in general were playing a positive function in the Korean capital market by effectively performing the monitoring role for companies. However, we observed that their monitoring role is not effectively performed when the risk level of capital market is maximized, such as during the global financial crisis. The study suggested that the influence of foreign investors may vary depending on the level of risk in the capital market, which is expected to contribute to the market participants and academia.

• Analyses & Alternatives
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• v.3 no.1
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• pp.29-61
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• 2019

Within the discipline of International Relations (IR), the literatures on global governance (GG) and great power management (GPM) at best ignore each other, and at worst treat the other as a rival or enemy. On the one hand, the GPM literature, like both realism in all its forms, and neoliberalism, takes for granted the ongoing, disproportionate influence of the great powers in the management of the international system/society, and does not look much beyond that. On the other hand, the GG literature emphasizes the roles of smaller states, non-state actors and intergovernmental organizations (IGOs), and tends to see great powers more as part of the problem than as part of the solution. This paper argues that the rise to prominence of a non-traditional security agenda, and particularly of human security, has triggered a de facto merger of GPM and GG that the IR literature usually treated as separate and often opposed theories. We use the Ebola crisis of 2014-15 to show how an issue framed as human security brought about a multi-actor response that combined the key elements of GPM and GG. The security framing overrode many of the usual inhibitions between great powers and non-state actors in humanitarian crises, including even the involvement of great power military forces. Through examining broadly the way in which the Ebola crisis is tackled, we argue that in an age of growing human security challenges, GPM and GG are necessarily and fruitfully merging. The role of great powers in this new human security environment is moving away from the simple means and ends of traditional GPM. Now, great powers require the ability to cooperate and coordinate with multiple-level actors to make the GG/GPM nexus more effective and sustainable. In doing so they can both provide crucial resources quickly, and earn respect and status as responsible great powers. IGOs provide legitimation and coordination to the GPM/GG package, and non-state actors (NSAs) provide information, specialist knowledge and personnel, and links into public engagement. In this way, the unique features of the Ebola crisis provide a model for how the merger of GPM and GG might be taken forward on other shared-fate threats facing global international society.

• Asia pacific journal of information systems
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• v.29 no.1
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• pp.144-164
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• 2019

In their role as stewards of organizational information technology (IT), IT managers participate in crisis management activities. While much has been said about the power of technology in improving preparation for emergencies, the behavior of IT managers in crisis situations is not well understood. This paper addresses IT manager actions during the crisis response effort, when appropriate actions need to be taken at short notice. Recognizing that few guidelines exist for IT managers in these situations, we use recommendations from the crisis management literature in analyzing five earthquake cases from Japan and Taiwan. We identify several recommendations from this set for IT managers, which are related mainly to communications and leadership behaviors, suggesting that the IT manager role is a vital one in crisis response. The research additionally shows that recommendations from the crisis management literature have value also when applied to IT managers. Finally, we conclude on several ways that our understanding of IT manager crisis response could be developed by future research.

• 사회경제평론
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• v.31 no.1
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• pp.25-61
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• 2018

Nowadays 87 regimes born in the same year with the Korean Association for Political Economy(KAPE in abbreviation) have ended historically. This paper surveys the research trends of KAPE after 2007 for the 30th founding anniversary. This survey is expected to help research way forward of KAPE. The main contents of the surveys are as follows. Global finance crisis caused by subprime mortgage crisis in 2007 expanded to global economic crisis resulting in the crisis of economics. KAPE criticized the mainstream economics with different approach and methodology as well as political economy copying with the crisis of economics and then focused on economics of inequality. However, the progressive economics is depressed under the conservative regime after 2007. As a result, the progressive economics have experienced the crisis of reproduction of knowledge and have become the peripheral science in Korea. With new regimes after 87 regimes, more important than restoration of the progressive economics is rebirth as the progressive economics corresponding to new regime and new era. This is responsibility of KAPE as the single association of the progressive economics in Korea.

• Korean Journal of Social Welfare Studies
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• v.42 no.2
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• pp.97-122
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• 2011

After global economic crisis, most countries increased the welfare expenditure as a part of stimulus package. As a However welfare expenditure was decreased radically as the crisis was transmitted into the financial crisis. Which turning point is the welfare state going through now? Although the need for the welfare and the role of the state to take responsibility of public welfare has increased because of poverty and polarization, responses of the state against the crisis had focused on the aid to the financial industry and cutting taxes and showed limitations in coordination. Financial limitation of welfare expenditure, political individualism, the change of class politics and the mixture of the welfare institutions and financial institutions make have a pessimistic prospect of the retrenchment to the minimalist welfare state. As neoliberal state is continued cash benefits mainly for the middle class is being decreased. As a result, the direction the welfare states pursue is prospected to win over the poor by strengthening selectivity in welfare provision rather than class coordination.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.19-26
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• 2017

Banks play a crucial role in bringing stability and economic development through their expected contribution in proper financial resource mobilisation across the economy. Despite the importance, there is little focus in recent literature which provided the empirical evidence how the global financial crisis affect the bank efficiency in Bangladesh. Thus, this paper aims to examine the effect of the global financial crisis and other factors on the efficiency of Bangladesh commercial banks. By employing the Data Envelopment Analysis (DEA) method, we computed the technical efficiency of individual banks operating in the Bangladesh banking sector during 2000 to 2013. The empirical findings indicate that the Bangladesh banking sector has exhibited the highest efficiency level during 2001, while efficiency seems to be at the lowest level during 2010. The study finds that crisis along with bank size, capital adequacy ratio, return on average equity and real interest rate have a significant effect on bank efficiency in Bangladesh. In order to keep the sound financial development of Bangladesh, banks operating in the Bangladesh banking sector have to consider all the potential technologies which could improve their profit efficiency levels, since the main motive of banks is to maximise shareholders' value or wealth through profit maximisation.

• Journal of Preventive Medicine and Public Health
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• v.44 no.1
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• pp.14-21
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• 2011

Objectives: The regulatory changes in Korea during the national economic crisis 10 years ago and in the current global recession were analyzed to understand the characteristics of deregulation in labor policies. Methods: Data for this study were derived from the Korean government's official database for administrative regulations and a government document reporting deregulation. Results: A great deal of business-friendly deregulation took place during both economic crises. Occupational health and safety were the main targets of deregulation in both periods, and the regulation of employment promotion and vocational training was preserved relatively intact. The sector having to do with working conditions and the on-site welfare of workers was also deregulated greatly during the former economic crisis, but not in the current global recession. Conclusions: Among the three main areas of labor policy, occupational health and safety was most vulnerable to the deregulation in economic crisis of Korea. A probable reason for this is that the impact of deregulation on the health and safety of workers would not be immediately disclosed after the policy change.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.39-49
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• 2020

This study empirically examines herd behavior for fast moving consumer goods (FMCG) sector stocks under varied market return conditions and the period during the global financial crisis and its aftermath. We examine the sample of stocks trading on the Nifty FMCG Index of the Indian equity market from January 2008 up to December 2018 using the dispersion measure of cross sectional absolute deviation and examine its relationship with the market return to explore herd phenomenon. Quantile regression estimate is used and the results of the study validate rational asset pricing models as the sector does not display herding. In contrast, anti-herd behavior at lower and median quantile values is observed. A possible reason can be the non-cyclical nature of the industry where investors rely more on the fundamentals rather than crowd chasing. We also findthe absence of herd phenomenon during the market asymmetries of bull and bear phases, extreme movements, the period of the global financial crisis, and afterward. We further examine herding under the impact of the information technology (IT) industry and conclude that significant return movements in IT sector impact dispersions in the FMCG industry. Also, there is a co-varying risk between the two sectors confirming the spillover in an integrated market.