• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.527-538
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• 2021

The purpose of the study is to determine the efficiency, position, and partner selection of securities companies via the negative super-SBM model used in data envelopment analysis (DEA). This model utilizes a variety of inputs, including current assets, non-current assets, fixed assets, liabilities, owner's equity and charter capital, and outputs including net revenue, gross profit, operating profit, and net profit after tax collected from the financial reports (Vietstock, 2020) of 32 securities companies, operating during the period from 2016 to 2019, negative data are collected as well. Empirical results determined both efficient and inefficient terms, and then further determined the position of each securities firm under consideration of every term. The overall score arrived at discovered a large performance change realizing a maximum score able to reach 20.791. In the next stage, alliancing inefficient companies was carried out based on the 2019 scores to seek out optimal partners for the inefficient companies. The tested result indicated that AAS was the best partner selection when its partners received a good result after alliancing, as with FTS (11.04469). The partner selection is deemed as a solution helpful to inefficient securities companies in order to improve their future efficiency scores.

• The Journal of Fisheries Business Administration
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• v.29 no.1
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• pp.121-137
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• 1998

This study was conducted to examine the economic evaluation of the newly developed fish meal analog (BAIFA-M) in Korean rockfish feed. A raw fish feed (MP) and two commercially formulated diets (EP) were employed to compare weight gain (WG), feed conversion ratio (FCR) and survival rate (SR) from the sea cage culture system. By using the economic model in the practical sea cage culture system, feed cost, production cost and gross profit per kg production, rate of profit to gross revenue (RPGR), and internal rate of return (IRR) were calculated based upon the results of the experiment and the information of the private aquaculture farm (Young Chang) in Tong young, Korean. IRR criteria is one of the popular economic feasibility analysis methods applicable far aquaculture industry. This is an economic evaluation method to compare the given interest rate or the discount rate with IRR which can be calculated by the difference between the present value of the benefit stream and of the cost stream. The benefits of using EP on WG, FCR, SR, and production cost will be emphasized in this study. Fish averaging 20$\pm$3.6g (Mean$\pm$SD) were randomly distributed in each small cage (6m$\times$6m) as groups of 2,000 fish. By using 3 large size cages (12m$\times$12m), 12 small cages were constructed, and only 9 small cages were employed for three replicates of each diet treatment. To compare with MP diet, two sinking EP diets were designed by our laboratory and produced by the local feed company who wanted to promote these EP diets for the mass cage culture of Korean rockfish in the future. Two EP diets contain white fish meal and/or BAIFA-M as the main animal protein sources : WFM diet, maximum 43% of white fish meal : BAIEA- M diet, 30% of white fish meal nab replaced by BAIFA- M from WFM diet. Results are summarized in Table 1. Fish fed MP diet showed significantly lower SR than does fish fed two EP diets(P<0.05). However, there Were no significant difference on FCR among fish fed three practical diets. Table 1. Average feed conversion ratio (FCR), accumulative average survival rate (SR) and economic evaluation data far three practical diets. As we expected, BAIFA-M diet is more economical than WFM diet as well as MP diet. Feed cost and production cost per kg production from BAIEA - M diet were lower than those from WFM and MP diets. Moreover, gross profit per Kg production, RPGR and IRR from BAIFA- M diet were higher than those from WFM and MP diets. This economic evaluation study clearly indicated that MP diet should be replaced by the commerical formulated EP diets as soon as possible in the near future because MP diet is not economical in the practical sea cage culture system.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.35-44
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• 2012

This paper provides information for decision making of the managers and the staffs of oriental medicine hospitals through the analyzing financial statement. The oriental medicine hospitals decreased total assets, total gross revenues, and increased debt. Comparison of years 2008 and 2010, oriental medicine hospital's total assets decreased, liabilities increased, total revenue decreased, and showed a continuing deficit. On the other hand, the rate of net worth of the oriental medicine hospitals were high and lower dependence on the borrowings. So the management performance of the oriental medicine hospitals as a whole were good. However some the oriental medicine hospitals were experiencing serious financial difficulties. In order to the hospitals overcome its financial difficulties, they had to rely on short-term borrowings. In consideration of the reserve fund for essential business, the transfers and the net profit ratio to total assets of the operating profit ratio to total assets were the level of commercial interest rates. But the operating profit ratio to the total assets were significantly different according to the hospitals. And 10 hospitals of the operating profit ratio to gross operating revenues were (-), they had problems with profitability. Meanwhile the total amount of capital and the equity capital of reduced hospitals increased, there were significant differences even between hospitals.

• Korea Journal of Hospital Management
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• v.4 no.1
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• pp.41-65
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• 1999

This study was attempted to identify the factors affecting profitability of general hospital in Kyung-In Region. Operating profit to gross revenues and net profit to gross revenues were used as a proxy indicator for profitability of hospitals. The unit of analysis was hospital, and the data were collected 5 years data from 20 hospitals. The major findings are as follows; (1) The average operating profit rate was 1.03% and the net profit rate was -5.00% in twenty hospitals in the Kyung-In Region for the last five years. In terms of maximum surplus, the operating profit rate was 14% and net profit rate was 3.40%. In terms of maximum loss revenue, the operating profit rate was -16.56% and the net profit rate was -22.83%. (2) Since the year 1993, which was the starting year of this study, the operating profits and the net profits consistently decreased. (3) Analyzing the difference in profits among various hospital groups, the tertiary hospital group and the 501-1000 beds group exhibited the highest in operating profit rate. Also, among the higher grade number of beds in hospital group, per 100 beds group, the 41-50 beds group exhibited the highest in operating profit rate. There is a statistically significant difference in those groups(p<0.05, p<0.01). (4) In the health care delivery system, the profit gain in the secondary hospital was 51.5% and in the tertiary hospital was 72.4%. Based on the number of beds in each hospital group, the highest profit gain was 75.0% in the over 1001 beds group, and 71.4% in the 501-1000 beds group. Also, among the higher grade number of beds in hospital group, per 100 beds group, the 41-50 beds group exhibited 88.6% surplus. (5) According to the surplus difference based on the analysis of health care utilization, a group with over 31 patients in bed turnover rate, a group with over 96% in bed occupancy rate and group with over 9% in emergency cases to outpatient visits exhibited the highest profit gains. In addition, a group with over 301 patients in daily outpatient visits per 100 beds and group with 11-12 days average length of stay exhibited the highest profit gains. These results are statistically significant(p<0.05, p<0.01). (6) According to a stepwise regression analysis, the variables measuring the bed turnover rate, number of licensed beds, and number of outpatient visits per specialist explain 34.1% of the variation in operating profits. In terms of net profits, the new outpatient visits, the bed turnover rates and the number of general bed variables explain 30.6%. These results are statistically significant(p<0.01).

• Journal of the Korean Institute of Navigation
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• v.9 no.1
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• pp.1-40
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• 1985

The transport of cargoes carried by coastal and ocean-going vessels has increased with the rapid growth of the Korean economy these days. This increase of the sea-borne cargoes has made the Korean coastal traffic so congested that this can be a cause of large pollution as well as great marine casualties such as loss of human lives and properties. Marine casualties generally result from the complicated interaction of natural and human factors; the former being the topographic, marine traffic volume and meteorological conditions, and the latter being the quality of seafares. In this paper, the authors analyse the trend of marine casualties in the Korean coastal and clear up the cause of accidents and examine closely the mutual relations among sea accidents, weather conditions, and marine traffic volume. These accidents are classified into several patterns on hte point of view of ship's size, ship's type and ship's age and its characteristics of each pattern are described in detail. Also, the authors estimate the amount of economical losses resulting from marine casualties which are classified into the accident patterns, and clarify the effects of those losses on B/B(Balance Sheet) and P/L(Profit & Loss) of Korean shipping companies and Korean national economy. The analyzed results of marine casualties are summarized as follows: 1) The average number of sea accidents is 248 cases per year with the loss of 107 persons during last 13 years. 2) Collision is the top of causes of sea accidents (approx. 36.4%), shipwreck the second (approx. 20.3%), agroung the third rank (approx. 18.2%). 3) The ship's number under 1, 000G/T is approx. 74% of total ship's number of accidents. 4) 80% of total number of marine accidents is taken plact at the coastal waters. (involved ports & narrow channels) 5) Marine casualties are occur likely to in the night, the winter and the summer. 6) The average amount of economical losses is approx. 18.5 billion won. (approx. 0.14% of GNP) 7) Shipwreck is the top of the amount of economical losses (approx. 60.4%), collision the second (aprox. 24.5%), aground the third (approx. 9.9%). 8) The amount of economical losses is approx. 5.24% of gross capital of shipping co., 1.24% of shipping revenue, 1.38% of shipping total income in 1983.

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.348-356
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• 2013

This study examines nonpatient revenues of hospital in korea. The data source for this study was the 11 national university hospitals over the period 2008-2012. In this study, patient revenues, patient expenses, operating profit, nonpatient revenues, total revenues, ratio of the nonpatient revenues in the total revenues, operating margin, normal profit to gross revenues were analysed by the annual. The analysis of nonpatient revenue differences by management performance, bed size, location was performed. The results were as follows. Nonpatient revenues of national university hospitals were increased during the period 2008-2012. Nonpatient revenues were no significant differences by management performance. Nonpatient revenues in hospitals which are large bed size and located in big city were larger. Based on these results, this study suggests implications to diversify profitability for management performance in hospitals.

• The Journal of Fisheries Business Administration
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• v.43 no.3
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• pp.89-106
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• 2012

This study estimated the size of ornamental fish market as the basis survey for the development of the ornamental fish industry in Korea. It presents improvement projects agendas for the development of the Korean ornamental fish industry by investigating the challenges of the ornamental fish industry and consumer awareness. First, looking at the size of the ornamental fish market, calculated on the basis of survey results, the size of ornamental fish market is analysed as 231.8 billion won. The actual ornamental fish market is presumed to be much larger than this considering unclear gross sales from e-commerce and group sales, goods excluded from the ornamental fish export, expensive ornamental fish transaction from smuggling are missing. Ornamental fish industry and consumer awareness survey results can be described as follows: First, revenue structure of the ornamental fish market depends on a handful of expensive purchasing group rather than on low-cost consumption group. Second, many members of the ornamental fish producers, wholesalers, road shops are small-scale. Third, the sale of aquarium fish and aquarium fish related supplies in road shop have different market structures. Fourth, ornamental fish consumption is in the ongoing recession. Fifth, ornamental fish industry hopes for expansion of distribution and Research & Development. Sixth, satisfaction of ornamental fish consumers is generally low. As described above, ornamental fish industry in Korea are vulnerable in the market structure and industry is small and the consumer's satisfaction degree is staying in the 'normal' level. If current state will continue, future consumption can be reduced. It is necessary to increase the competitiveness by using various method including reorganization of the structure of the ornamental fish industry even though it is hard to reach conclusion only with the results of the survey.

• Health Policy and Management
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• v.26 no.2
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• pp.95-106
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• 2016

A new manual of System of Health Accounts (SHA) 2011, was published jointly by the Organization for Economic Cooperation and Development (OECD), Eurostat, and World Health Organization in 2011. This offers more complete coverage than the previous version, SHA 1.0, within the functional classification in areas such as prevention and a precise approach for tracking financing in the health care sector using the new classification of financing schemes. This paper aims to demonstrate current health expenditure (CHE) and National Health Accounts of the years 1970-2014 constructed according to the SHA2011. Data sources for public financing include budget and settlement documents of the government, various statistics from the National Health Insurance, and others. In the case of private financing, an estimation of total revenue by provider groups is made from the Economic Census data and the household income and expenditure survey, Korean healthcare panel study, etc. are used to allocate those totals into functional classifications. CHE was 105 trillion won in 2014, which accounts for 7.1% of Korea's gross domestic product. It was a big increase of 7.7 trillion won, 7.9%, from the previous year. Public share (government and compulsory schemes) accounting for 56.5% of the CHE in 2014 was still much lower than the OECD average of about 73%. With these estimates, it is possible to compare health expenditures of Korea and other countries better. Awareness and appreciation of the need and gains from applying SHA2011 for the health expenditure classification are expected to increase as OECD health expenditure figures get more frequently quoted among health policy makers.

• Health Policy and Management
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• v.12 no.4
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• pp.1-17
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• 2002

This study was attempted to identify the liquidity trends and determinants of private hospitals in Korea different. Data used in this study were collected from 98 hospitals with complete general data of present conditions as well as financial statements(balance sheets, income statements). They were chosen from hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 1996 to 2000 for the purpose of accrediting training hospitals. The dependent variables in this study were used current ration and quick ratio as a proxy indicator for liquidity. The independent variables were ownership type, hospital type, location, bed size, period of establishment, short-term liabilities to total assets, long-term liabilities to total assets, borrowings to total assets, fixed asset ration, net profit to total assets, operating margin to gross revenue, growth rate of net worth to total assets, total asset turnover, and business risk(volatility of profit). The major findings of this study were as follows. Trends of liquidity(current ratio, quick ratio) had been continuously decreased. Especially, There were very distinct decreasing trends of personal hospitals and less than 300beds, which weakened liquidity. The factors had significant effect on current ratio were short-term debt to total assets(-), fixed asset ratio(-), business risk(+). High short-term debt to total assets, high fixed asset ratio and high business risk significantly decreased in liquidity. The factors that significantly affected on quick ratio were short-term debt to total assets(-), borrowings to total assets(+), fixed asset ratio(-), business risk(+).

• Korean Journal of Organic Agriculture
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• v.7 no.2
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• pp.1-16
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• 1999

In this study, questionnaire were made to environment-friendly producers of apples regarding farm management methods in low-input production method. utilizing organic materials, production and marketing of apples with lower agricultural chemical residues. Besides, five apples farms were visited to find out their management situation by employing the low-input production method in order to protect the environment as well as consumer's health. Those five low-input apple farms were scattered in Kyungbuk, Chungnam, and Chonnam Provinces, There were not many low-input apple farms across the nation from the beginning and, as a result, increasing the sample size was basically very difficult. Most of these farms were using 140hrs of labor per 10a, of which 30hrs in pre-season management, 25hrs in plowing and weed control, 15hrs in disease and pest control, 20hrs in harvest and marketing and 50hrs in miscellaneous activities. Relatively, pest control takes much time in that they would spray pesticides 7-10 times a season to control the apple disease, 9 times on the average. The average gross revenue of low-input apple farms was about \2,000,000/10a, and their average yield was 2,000kg/10a, which are 25% and 13% lower, respectively, than the ordinary apple production case. This means the low-input farmers are inefficient in marketing their products. On the other hand, their production costs were 20.4% higher than the ordinary apple farms on the average. Since the imported foreign fruits including apples must use various agricultural chemicals on their way to the export markets, the domestic low-input apples have competitive edge over them in therms of food safety. In order to improve the low-input apple industry, active cooperation is needed among the producers, government and researchers more than ever. Among other things, production cost reduction and quality improvement with lower chemical residues are part of the urgent matters to be done.