• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.119-139
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• 2023

Purpose - This study is the first field study about the insurance market in North Korea. By analysing the information and the data collected from the visit to North Korea, we introduced the most recent change on the insurance market in North Korea and analyzed the impact of the change of economic policy on the insurance market. This study may enhance the understanding the current situation and provide expectations on the future of the insurance market in North Korea. Design/methodology/approach - This study is based on the field study doen in 2018 to Pyeong Yang, the capital of North Korea, The most information was collected from the legal documents, news papers and academic reports. Findings - During his regime from the year of 2012, Kim Jong Eun, the Supreme Leader of North Korea, initiated the drastic change in economic renovation policy in North Korea by shifting the economic system from the commodity economy to the market economy. Due to the policy, the insurance market in North Korea became marginally privatized and the market of life insurance contracts is expected to be increased if North Korea may resolve the political conflicts between North Korea and the United States and its allies in Asia mainly due to its nuclear testing. Research implications or Originality - Until now, very few studies have been done regarding the financial market in North Korea, especially about the insurance market. Our study provides unique information on the insurance market in North Korea because all the information and its implications are based on the field study in 2018.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.27-35
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• 2019

The paper examines the level of disclosure on Islamic banks' performance in the United Arab Emirates (UAE). The data was collected through content analysis of annual reports and financial statements of all fully-fledged Islamic banks working in the UAE over the period 2009 to 2013. Return on Assets is used as a proxy for the performance of Islamic banks while disclosure index is used as a proxy for Islamic banks' disclosure. Also, predetermined variables are used in the study like Size, Deposits, Non-Performing Investments and Capital to Risk Weighted Assets Ratio. Two-Stage Least-Square regression method is used to check the interdependence relationships between disclosure and performance of Islamic banks in the UAE. The results show a significant relationship between performance and disclosure in the UAE Islamic banks. Our regression results show that Islamic banks with higher levels of disclosure lead to higher operating performance. Furthermore, the performance has a great impact on the level of disclosure which means Islamic banks with high performance measures will disclose more information for investors and other institutions in order to reduce the cost of equity and increase their values in the market. This study is considered as a battery for further studies in the relationship between disclosure and financial performance of Islamic banks at a global level.

• International Area Studies Review
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• v.20 no.4
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• pp.57-72
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• 2016

This Paper investigates the role of wealth distributions and Financial institutions of an economy on within-industry firm heterogeneity in productivity. If there is no Financial imperfection so that entrepreneurs are not constrained in borrowing all of them make the same, productivity-enhancing investment. International Trade industry average productivity also increases the avoidance of capital and international capital movements developing countries linked by lead industry cuts in global investing. International Trade of goods, on the other hand, amplifies this impact of capital mobility when capital structures the countries.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.2
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• pp.1-17
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• 2022

Purpose - This exploratory study analyzes the performance of the business from the HRM point of view. Analyzed the influence of HRM and organization effectiveness on business performance. Also moderating effect of the strategy is analyzed. Research design, data, and methodology - Two outcome variables are measured, non-financial performance and financial performance. Two organizational effectiveness variables are measured, job satisfaction and organizational commitment. And two HRM areas are measured, HRM practice and organizational culture. Finally, two strategies are measured as moderators, market strategy and product/service strategy. This study analyzed employees of 554 from the 7th HCCP. This study used SEM and MCFA. Result - The results of turnover intention, growth rate, and profit rate verified the influence of HRM and organizational effectiveness. Overall results showed a contrary effect of education & training system implement and participation on job satisfaction and organizational commitment. Among organizational culture, innovation and relation positively affect job satisfaction and organizational commitment. However, antecedents influencing turnover intention, growth rate, and profit rate bear no resemblance. And the MCFA result shows that strategy's group differentiation analysis is meaningful in turnover intention not in financial performance. Conclusion - Based on this study result, management suggestions for turnover intention, growth rate, profit rate, and organizational effectiveness are made. Especially, due to the company's strategy.

• The Journal of Industrial Distribution & Business
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• v.11 no.4
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• pp.31-38
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• 2020

Purpose: At a time when the distribution industry is dominated by capital and technology, win-win growth among businesses groups (BGs) in wholesale market is becoming a social issue. Therefore, through analysis of market growth, market concentration (MC) and market power (MP), we want to identify the structure of the wholesale market and the competitiveness of the BGs in terms of market share (MS), sales-profit ratio (SPR), and labor productivity (LP) to explore the possibility of win-win growth. Market situation: Wholesale and Retail sales ratio (W/S) continues to increase, which also means inefficiency in distribution channels or opportunities in wholesale markets. Wholesale sales have grown 8.3 percent annually over the past 15 years, while the number of companies and workers has declined since 2017, which is why some restructuring is believed to begin in the wholesale industry. In terms of MC and MP, the growth potential of SBG can be found in FCB, ARM, FBT and CME BTs. Methodology and data: Through ANOVA and Regression Analysis, the 2015 Economic Census Data of KOSTAT was analyzed. Results: The results of ANOVA show that statistically significant SBG has a larger MS than LBG. The SPR was not different among BGs. LP is higher for LBG than for other BGs. Regression results show that the employment weight (EW) and the company size (SC) have positive effects on the MS, but the company weight (CW) and employment size (SE) have negative effects. In the case of SPR, the CW is positive and the EW is negative. In addition, LP appears to be more positive as SC in the BGs is larger. Conclusions: Although there is sufficient potential for SBG in the wholesale market, there is a problem that needs to increase LP. Therefore, the SBG needs to restructure in terms of number of companies and SC to improve the efficiency of employment. In terms of MC and MP, the SBG looks for possibilities in FCB, ARM, FBT and CME BTs. In addition, SBG that seeks higher returns with human services rather than simple sales is found to be competitive in the HHG, MES and CME BTs.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.265-313
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• 2010

Kyoto Protocol is an international convention on concrete performance program for UNFCCC(United Nations Framework Convention on Climate Change), which regulate and prevent to global warming and officially came into effect on February 16, 2005. Kyoto flexible mechanisms, the agreed environmental system in March 1997 in the Third Conference of Parties in UNFCCC General Assembly, Emission Trading System(ETS), Clean Development Mechanism(CDM) and Joint Implementation(JI), are key policies related to environment. In advanced countries, greenhouse gas emissions should be reduced average 5.2% level compared to 1990 in total emissions during 2008-2012. World leading carbon market finished the trial on the EU ETS I greenhouse gas emissions trading system, EU ETS II is operated regularly after 2008. World Bank leads to make 'Prototype Carbon Fund(PCF)' in April 2004, which is the world first carbon fund and a representative public carbon fund type, World Bank operate various funds including present PCF. Thus, I would like to propose as follows in relation to this study: First, in the validity analysis of carbon funds, it would be needed to analyze the Emission Reduction Cost Efficiency(ERCE) of carbon. The ERCE is a break-even value which brings the Net Present Value(NPV) to zero. NPV approach is used among projects and it enables potential projects to be compared and evaluated the ERCE on the basis of the net present value of net future cash flows. Therefore, according to results of analysis, carbon funds should be developed and invested. Second, it would be necessary to allow of issuing bonds together with carbon funds, carbon finance etc. Third, carbon funds, it would be reasonable to have a relatively enough maturity in project and as a financial derivatives in the international financial markets, it is needed various types of transactions. Fourth, it would be needed to standardize the carbon emissions trading for more efficiently. Fifth, it would be necessary to establish and invest in various kinds of domestic and overseas global carbon funds, including governments, privates, governments and privates sectors. And it is also needed to establish the medium and long term plans for carbon funds. Sixth, it would be needed to foster the advanced trade mechanisms for carbon funds in the most effective ways. Finally, carbon funds should be used in harmony with international societies to reduce global warming as the social responsible investing funds and it should be contribute to sustainable development. In addition, it would seem that carbon funds should be studied on establishing the contributable standard of sustainable development in the future assignment.

• Journal of Digital Convergence
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• v.12 no.6
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• pp.193-202
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• 2014

Recently the corporate environment is rapidly changing with the development of information technology and globalization of market environment. In order to acquire competitive advantage and promote long- term growth in this corporate environment, korean federation of community credit cooperatives are adopting PMS. However, there have been few studies on the beneficial effects of PMS. A survey was conducted suing a questionnaire on korean federation of community credit cooperatives and collected data were analyzed. This study examines the relation between performance measures and organizational performance. first, financial measures had a significant positive(+) effect on organizational performance. second, non- financial measures had a significant positive(+) effect on organizational performance. Such findings suggest that use of performance measures have a positive impact on organizational performance. the effects of non-financial measures on organizational performance are found more clearly than the effects of financial measures on organizaitonal performance.

• The Journal of the Korea Contents Association
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• v.15 no.10
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• pp.504-516
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• 2015

This study addresses one of the curent issues in modern finance, which investigates financial profile on the levels of the chaebol firms' cash hoardings in the domestic capital market. Iit may be imperative to search for robust and consistent financial determinants of cash holdings as well as identifying any changes or trend of the determinants affecting the corporate cash reserves in the post-era of the global financial turmoil, considering that interest parties at the government and corporate levels, still seem to have a controversy or debate on excess cash savings. Two hypotheses were postulated and empirically tested for the chaebol firms in the study, such as any transitional changes of the relevant factors on cash holdings and unique attributes of financial factors discriminating between the different type of domestic stock markets.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.652-655
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• 2007

Due to stagnation of domestic market, increasing number of domestic construction companies started to make inroads into foreign market recently. Yet compared to domestic market, there are much more risks in the foreign market which companies may confront. So deliberate and rational decision making skills are required. Accordingly, there has been many researches which analyzed the risk of individual markets and also studies covering decision support models. In this study, we suggest a model concerning financial issues when branching out into a new market, specially in the construction companies' point of view. For this we used a real options game which shows real competition status of a new market and deduced a feature of that market, Upon these results, we also suggest a model which helps firms to decide whether investing in the expansion is smart action or not. The model developed in this study is made in specific circumstances of limited conditions. The future study makes more realistic models considering subjects like disproportion in information and generalization of competing companies.

• Journal of Information Technology Applications and Management
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• v.30 no.6
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• pp.31-52
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• 2023

The government's various support policies have helped Korea's SMEs and startups to grow from the beginning to the end, from domestic companies to exporters. In particular, direct business support policies such as financial support, R&D projects, and export support have been effective in helping a large number of entrepreneurs and startup companies to establish themselves in the market and have achieved tangible results every year since the establishment of the Ministry of SMEs and Startups. As such, the government is making significant efforts to create and promote various types of support policies and to help companies utilize them in their business. However, this study aims to analyze the factors that affect the satisfaction of government policies and the achievement of managerial performance from the companies' perspective and to suggest the purpose of government support policies and the direction companies should take. Specifically, this study categorizes entrepreneurial self-efficacy into marketing, innovation, management, risk-taking, and financial management, using the relationship model of self-efficacy and collective efficacy to ultimately lead to practical results for SMEs and startups support policies. It uses perceived firm efficacy as a variable to reveal the influence relationship. In addition, the direct and mediating effects of entrepreneurial self-efficacy and policy satisfaction on managerial performance were analyzed to determine what SMEs and startups support policies should do. The results showed that, first, among the five components of entrepreneurial self-efficacy, innovation, and risk-taking efficacy positively affected perceived firm efficacy. Second, the specific components of entrepreneurial self-efficacy, marketing, and financial management efficacy positively influenced policy satisfaction. Third, we found that perceived firm efficacy positively influenced policy satisfaction and managerial performance, which are factors of SMEs and startups' policy performance. Specifically, perceived firm efficacy positively influenced policy satisfaction managerial performance. Fourth, we found that policy satisfaction positively influenced managerial performance.