• International Journal of Contents
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• v.16 no.2
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• pp.30-40
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• 2020

This study performed GIS and statistical analyses on the location and spatial characteristics of the slum in Daejeon. Spatial data of 648 slum residents in Daejeon were collected and 131 residents among them were surveyed. The results showed the trends of higher rent, lower social exclusion and closer neighboring relations in slum center than the surrounding areas, which could be interpreted as the interrelated multilateral effects of the micro- (housing), meso- (relations), exo- (community) and macro- (government policy) systems. The strong bonds among neighbors and various supports from social service facilities elevated the slum area's rent and diminished residents' social exclusion more than housing conditions (for instance, poor hygiene and low safety). Slum tenants willingly paid a premium for their substandard housings and refused moving to governmentally provided modern housing units. In urban development, administrative authorities need to be cautious about slum uprooting. Much rather an alternative renewal approach is needed which protects the slum's intimate relations while improving its overall living standards.

• KDI Journal of Economic Policy
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• v.41 no.4
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• pp.1-44
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• 2019

The contingent convertible bond (or CoCo) is designed as a bail-in tool, which is written down or converted to equity if the issuing bank is seriously troubled and thus its trigger is activated. The trigger could either be rule-based or discretion-based. I show theoretically that the bail-in is less implementable and that the associated bail-in risk is lower if the trigger is discretion-based, as governments face greater political pressure from the act of letting creditors take losses. The political pressure is greater because governments have the sole authority to activate the trigger and hence can be accused of having 'blood on their hands'. Furthermore, the pressures could be augmented by investors' self-fulfilling expectations with regard to government bailouts. I support this theoretic prediction with empirical evidence showing that the bail-in risk premiums on CoCos with discretion-based triggers are on average 1.13 to 2.91%p lower than CoCos with rule-based triggers.

• Proceedings of the KOR-KST Conference
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• 1995.05a
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• pp.239-250
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• 1995

With speeding up the process of being international municipality, the gravity of lacking parking lots in Shanghai urban area, which directly blocks the traffic in the city, has been revealed. This thesis analyses present automobiles parking capability and forecasts the future's needs for the city. To solve the problem, the concept could be to expand parking areas in city center recently to relax the tention and to do thoughtful planning in the near future on the foundation of fully consideration the trend. The municipal government has to set up policy properly, amplify regulations, strenthern the administration and open up a path to raise founds. Berween road system administration which is dynamic and parking lot system administration which is static, there are a knot on macroscopic meaning and an interference as well. The coordination of these two systems would be reflested on the effects of whole municipal traffic adminisration. Basically, public parking lots are city's foundal facilities, just like roads, bridges, etc. The main problems now in Shanghai are large parking space demands, insufficient facilities, cheap parking expenses comparing with the cost of parking lots construcion and poor administration. According to the forecast on social economy development, there will be 580 thousand automobiles in Shanghai by the year 2000, and the amount of private cars will increase greatly. The frequency of automobiles going out will be 1.45 million per day. Public parking lots being able to afford 105 thousand units are needed. To satisfy the demands, the recent aim of planning should be speed up the parking lots construction, the planning objective in next period should be developing reasonably and exceed the demands properly. In order to realize the planning objective, the government has to formulate correct policy and amplify administration regulations. The government has to adopt both administration and economy means, including charging parking people reasonably, collect necessary taxes, bringing the parking lots planning into general municipality planning, opening up an effective path to raise founds, such as set up founds for parking lots construction, issue bonds and stocks, get loans at home and abroad, etc.

• KDI Journal of Economic Policy
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• v.28 no.2
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• pp.239-262
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• 2006

The paper suggests that there has been a shift in the allocation of bank credit from large firms to small firms before and after the economic crisis. The paper also suggests that the improved lending practices of financial institutions, at least partially, contributed to this shift of corporate loans from large firms to small firms. Comparing the periods before and after the economic crisis also suggests that some important changes occurred to the corporate bond market. The effect of firm size on the corporate bond market differs before and after the economic crisis. Before the crisis, the larger the firms, the more they could borrow in the corporate bond market. However, after the crisis, it is not the case. The following interpretation could be put forward. Before the crisis, investors in the corporate bond market expected that the government would rescue large firms if they face the risk of bankruptcies. However, the collapse of Daewoo Group in 1999 shattered the TBTF (Too Big To Fail) myth of the public. The liquidity crisis of Hyundai Group in 2000-2001 reinforced the disintegration of the TBTF myth.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.50
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• pp.105-125
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• 1999

The results of analysis on foreign exchange market, stock and financial market after January of 1997 are that foreign exchange market will be affected by stock and financial market volatility about 1999. This means that stock and financial market are more stable than foreign exchange market. This also is supported by ‘financial market forecast of 1999 in Daewoo Economic Research Institute’. After won/dollar (end of period) will be increasing in 1,430 at second quarter of 1999, this is to downward 1,200 fourth quarter of 1999. This is somewhat based on government's higher exchange rate policy. But, after yield of corporate bond is to 11.0% at first quarter of 1999, this will be stable to 10.2% at fourth quarter. During the first quarter of 1999, yield of corporate bond is to somewhat increasing through sovereign debt and public bonds, technical adjustment of interest rate. After this, yield of corporate bond will be stable according to stability of price, magnification of money supply, restucturing of firms. So, stock market is favorably affected by stability of financial market. But, the pension and fund of USA, i.e., long-term portfolio investment fund, are injected through international firm's management. It is included by openness of audit, fair market about foreign investors. Finally, Moody's strong rating on the won-denominated bonds suggest that Korea's sovereign debt ratings could be restored to an investment grade in the near future. It sequentially includes inflow of foreign portfolio investment fund, fall of won/dollar foreign exchange rate (appreciation of won) and stability of yield of corporate bond.

• Korean Journal of Social Welfare Studies
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• v.47 no.4
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• pp.333-360
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• 2016

Social Impact Bonds(SIBs) has emerged as a promising way to finance proven social services programs, fund what works, and drive government accountability and has increased fast. In this context, this study examines and classifies the structure of SIB focusing key criteria of the main steps through two-step cluster analysis. Analysis results are as follows. First, the main commissioners of SIB are the ministries of the central government. And in terms of the stage of invest, there are usually two or three investors mainly consisting of social finance organizations. Second, in terms of target and age of SIB beneficiaries, it focuses on the adolescent and youth. Third, in the outcome evaluation stage, the results show that in most cases outcome payments are determined by a validation of service provider or government administrative data. However, the rate of payments are based on the comparison of the program beneficiaries to other comparable groups is 23.8%. Finally, The results of two-step cluster analysis are as; 'mix of central government and social finance organization', 'multiple agent including private organization', and 'multiple social provider'. Among three types, 'multiple agent including private organization' shows the most active participation between agents and the most systematic outcome measurement and management. The results of this study imply that the importance of the method to manage and measure outcome in SIB structure. Moreover, the consist of commissioners or investors is needed to expanded more.

• Journal of Agricultural Extension & Community Development
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• v.9 no.1
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• pp.87-100
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• 2002

The purpose of this study were to compare the community attachment between rural and urban communities, and suggest directions for community development plans of rural and urban communities in Korea. The data for this study were collected from two communities(n=285), one from Gochang representing rural community, located in Jeonbuk province(n=142), and the other from Suwon city representing urban community located in Gyunggi province(n=143), utilizing questionnaire. The major finding of this study were as follows; 1) Community attachment was significantly higher in community than in urban community, and the linear development model was more appropriate to explain the results of the study. 2) Community attachment appeared to be significantly related to social bonds, community participation, social trust, community economical activities, and social and cultural environment. 3)In general, determinants such as number of acquaintances, price of cultural heritages of residence, trust for local government, good traffic environment, job satisfaction, etc. explained 55.5% in rural and urban communities.

• Journal of the Korea Society for Simulation
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• v.23 no.4
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• pp.163-170
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• 2014

This study calculates the employee receives severance pay scale are paid from the company in the DC system. In addition, by utilizing the reserve growth model were studied in accordance with shortfall risk levels generated by stochastic asset allocation. For the analysis, from 2004 to 2013 using the KOSPI returns and total bond yields were simulated. Scenario 1 is when compared to the severance reserve is insufficient. Scenario 2 is the same as if toy reserve this severance pay. During one period, depending on the asset allocation of stocks and bonds was confirmed that the probability pension risk does not occur. And we suggest that members of DC pension risk endeavor with the government and companies to avoid.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.329-340
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• 2020

This study investigates the effect of capital structure on the financial performance of pharmaceutical enterprises which are listing on Vietnam's stock market. The study builds the regression using ROE as dependent variable and four independent variables, including self-financing, financial leverage, long-term asset and debt to assets ratios. In addition, we use other variables as controlling ones, such as firm size, fixed asset rate and growth. We collect data for the period from 2015 to 2019 of all 30 pharmaceutical enterprises which are currently listing on Vietnam's stock market. The least square regression (OLS) is used to test the effect of capital structure to the firms' financial performance. The analysis results show that the financial leverage ratio (LR), long-term asset ratio (LAR) and debt-to-assets ratio (DR) have positive relationship with firm performance, meanwhile the self-financing (E/C) affects negatively to the return on equity (ROE). Upon the findings we suggest that the Vietnamese government should focus on stabilizing macro environment to create favorable environment for enterprises. And the pharmaceutical enterprises should build more reasonable capital structure with higher debt proportion than equity, diversifying loan mobilization channels such as issuing long-term bonds. Additionally, the firms should expand the scale appropriately to maintain development and ability to pay debts.

• International Journal of Computer Science & Network Security
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• v.21 no.9
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• pp.239-246
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• 2021

This article substantiates the scientific provisions for modelling the level of Ukraine's public financial security taking into account the impact of budget policy, in the process of which identified indicators of budget policy that significantly affect the public financial security and the factors of budget policy based on regression analysis do not interact closely with each other. A seven-factor regression equation is constructed, which is statistically significant, reliable, economically logical, and devoid of autocorrelation. The objective function of maximizing the level of public financial security is constructed and strategic guidelines of budget policy in the context of Ukraine's public financial security are developed, in particular: optimization of the structure of budget revenues through the expansion of the resource base; reduction of the budget deficit while ensuring faster growth rates of state and local budget revenues compared to their expenditures; optimization of debt serviced from the budget through raising funds from the sale of domestic government bonds, mainly on a long-term basis; minimization of budgetary risks and existing threats to the public financial security by ensuring long-term stability of budgets etc.