• 대한안전경영과학회지
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• 제17권1호
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• pp.53-66
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• 2015

This study classified the study subjects as apartment residents and managers, and conducted the descriptive statistics of research questions related to the effectiveness of the lightweight partition walls and the evacuation space. This study also conducted T-test and Anova to find the different perceptions of the lightweight partition walls and the evacuation space, and the different perceptions of related laws according to the characteristics of the residents and managers. The findings and suggestions were as follows. Firstly, strengthening of the Senior Fire Safety Manager system to prevent the insolvency of fire safety management due to the affiliate. Secondly, implementing enhanced penalties in accordance with not implementing residents education, in order to prevent not smoothly delivering manager trained education to residents. Thirdly, adjusting hands-on training time according to the gender of the managers to supplement women's relatively low perceptions of lightweight partition. Fourthly, mandating evacuation guidance stickers on the evacuation space for residents to remove obstacles in the evacuation space. Finally, establishing regular residents education system in order to improve the awareness of the related laws for residents residing over 16th floors.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.83-89
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• 2019

The purpose of this paper is to examine how the social system of deposit insurance affected the financial market in Korea. Specifically, we want to know how much the risk-seeking behavior of financial institutions has increased or decreased. The most important feature of the deposit insurance system is to prevent the insolvency of financial institutions and to properly protect depositors. In recent studies, it has been argued that characteristics of deposit insurance bring moral hazard of financial institutions and that financial institutions make unreasonably risky investments. Therefore, in this study, we will first examine whether such previous research can be applied to the Korean financial market. Next, we will examine the appropriateness of the differential premium rate that is currently used for each financial institution in the Korean financial market. In order to test the first hypothesis, we used the Capital Asset Pricing Model (CAPM) to calculate the total risk for each financial institution. As a result, significant changes were found in all regions before and after the introduction of the deposit insurance system. As for testing the second hypothesis, we conducted a variance analysis of financial institutions' indexes before and after the introduction of the deposit insurance and we discovered significance of the total risk difference.

• The Journal of Asian Finance, Economics and Business
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• 제8권8호
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• pp.1-12
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• 2021

Altman's Z-score is used to measure a company's financial health and to predict the probability that a company will collapse within 2 years. It is proven to be very accurate to forecast bankruptcy in a wide variety of contexts and markets. The goal of this study is to use Altman's Z-score model to forecast insolvency in non-financial publicly traded enterprises. Non-financial firms are a significant industry in Malaysia, and current trends of consolidation and long-term government subsidies make assessing the financial health of such businesses critical not just for the owners, but also for other stakeholders. The sample of this study includes 84 listed companies in the Kuala Lumpur Stock Exchange. Of the 84 companies, 52 are considered high risk, and 32 are considered low-risk companies. Secondary data for the analysis was gathered from chosen companies' financial reports. The findings of this study show that the Altman model may be used to forecast a company's financial collapse. It dispelled any reservations about the model's legitimacy and the utility of applying it to predict the likelihood of bankruptcy in a company. The findings of this study have significant consequences for investors, creditors, and corporate management. Portfolio managers may make better selections by not investing in companies that have proved to be in danger of failing if they understand the variables that contribute to corporate distress.

• 한국중재학회지:중재연구
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• 제20권1호
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• pp.133-167
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• 2010

The enforcement of commercial arbitration awards in the People's Republic of China is one the controversial obstacles faced by foreign investors in China. The foreign investor will fail to enforce the arbitration award, if the Chinese court refuses the enforcement in China, even if the arbitration tribunal rules the award in favor of foreign investor who is in dispute with Chinese partners. In Korea, we have not many researches in the enforcement of foreign related awards and awards ruled by other jurisdiction. In recent times, Professor Kyung-Ja Cha(2005) and Professor Sun-Jeong Kim(2008) analyzed the enforcement of arbitration awards in China. Professor Kyung-Ja Cha(2005) reports the details of the enforcement statistics of CIETAC during 1990s. Professor Sun-Jeong Kim(2008) analyzed the obstacles of the enforcement of foreign related awards in China. This paper extends their researches in the field of the enforcement of arbitration awards in China. First, this paper extends Professor Kyung-Ja Cha(2005)'s study by introducing the Chinese enforcement situation during the period of 2000-2007. Second, this paper extends Professor Sunjung Kim(2008) emphasizes the local protectionism and the weakness of judiciary as key factors of obstacles to enforce the foreign related awards in People's Republic of China. This paper, additionally, highlights the role of the Guanxi and the antagonism of court toward arbitration institution to enforce the foreign related awards in People's Republic of China. Third, this study provides the recent developments of Supreme People's Court(SPC)'s rules to narrow down the gap between the practices of international arbitration and those of People's Republic of China. The Implications of this study are as follows. First, it is desirable for foreign investors to appoint the CIETAC or BAC as the arbitration commission in China. Second, the local competent attorney is the best choice to solve the respondent's insolvency in China. Third, foreign investors is required to monitor the provisions on the electronic instruments such as EDI and Email in Chinese law.

• 무역상무연구
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• 제57권
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• pp.137-169
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• 2013

This article intends to analyse some features in Exclusion Clauses of the Institute Cargo Clauses 2009 and the results of analysis are following. First, the insufficiency of packing or preparation exclusion under the revised Clause 4.3 is now more limited than before and the Clause suggest the test of sufficiency or suitability "to withstand the ordinary incidents of the insured transit". Secondly, the word "proximately" was deleted under the revised Clause 4.5 for the insurer to be identified more easily as a cause, but it remains to be seen whether that re-drafting will be successful. Thirdly, The exclusion under the revised Clause 4.6 does not apply unless the insurer can prove that, at the time the subject-matter insured is loaded on board the vessel, the assured was aware, or in the ordinary course of business should have been aware, that the relevant insolvency or financial default could prvent the normal prosecution of the voyage, and to a person who purchase the goods from the assured in good faith under a binding contract. Fourthly, the exclusion in respect of unseaworthiness of vessel under Clause 5.1.1 applies only where the assured is privy to the unseaworthiness, whereas the exclusion in respect of unfitness of container or conveyance under Clause 5.1.2 includes the privity of the employee. Finally, Clause 7 establishes the definition of terrorism, and adds ideological and religious motive to political motive.

• 한국건설관리학회논문집
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• 제10권1호
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• pp.78-90
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• 2009

오늘날 고속도로 운영은 IT를 기반으로 하는 복잡한 Digital Infrastructure이다. 이러한 IT의 활용은 점점 많아지고 있는데, 예측 불가능한 운영위험이 발생할 경우 IT의 편리함만큼이나 피해가 예상외로 커질 수 있다. 고속도로 운영 위험은 도로의 운영이 중단되어 도로이용자들이 서비스를 제공받지 못하는 것이다. 운영위험은 예상하지 못한 과다한 운영관리비 및 유지관리비의 발생으로 계획된 운영비를 초과하는 것이며, 운영수입의 손실을 가져온다. 그 결과 이용자 안전의 위험과 운영자의 부실을 초래하게 되는데, 기존의 연구는 이를 추정할 수 있는 방법에 대한 연구가 미흡한 실정이다. 따라서 본 연구에서는 디지털화된 고속도로에서 대규모 정전사태가 발생할 경우 추가로 발생되는 운영비 항목을 구체적으로 제시하고 각 항목에 대한 예상 가능한 위험비용을 시뮬레이션 추정을 하고자 하였다. 이를 근거로 하여 운영위험을 방지하기 위한 비용예산과 운영계획 측면에서 방안을 제시하고자 하며, 향후 운영의 건전성을 확보할 수 있는 기초자료로 활용을 도모코자 한다.

• 한국건설관리학회논문집
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• 제10권1호
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• pp.126-135
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• 2009

현행 공공공사에서는 예산에 맞추어 공사를 진행하는 방식을 취하고 있기 때문에 발주자(발주기관)의 요구사항을 충분히 만족시키지 못하고 있다. 따라서 발주자의 요구사항에 맞춘 발주방식 선정에 관한 연구가 필요하다. 이에 본 연구에서는 우선, 발주방식의 정의 및 특성과 미국, 영국, 일본 등 국내 외의 발주시스템을 고찰하였다. 이를 통해 발주방식을 선정하기 위해서는 최고 가치를 지향해야 된다는 결론을 도달하였다. 최고 가치를 지향하는 발주방식을 선정하기 위해서는 가장 우선적으로 발주자의 주요요구사항인 비용, 품질, 일정에 대한 고려를 해야 한다. 이에 본 연구에서는 발주자의 주요요구사항인 비용, 품질, 일정의 상관관계를 분석하였으며, 이를 통하여 여러 가지 발주방식 중 성능발주, 대안발주, Turn Key, 사양발 주의 주요선정요인을 비용, 품질, 일정으로 분류하였으며, 이에 대한 발주방식 선정 방법을 제시하였다.

• 토지주택연구
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• 제5권3호
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• pp.179-191
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• 2014

The purpose of this study is to employ a method called 'conflict impact assessment' to analyze the progress, background, cause and relevant issues of conflicts related with affordable housing for youth (Happiness Housing Project), a project that has been implemented since last May 2013, thereby identifying the relevant problems and draw out objectives for improvement. The researchers expect that this study will contribute to solving the current issues regarding Happiness Housing, and contribute to improving the quality of the government's policies. For the above purpose, literatures on Happiness Housing produced from August to November 2013 were reviewed, in-depth telephone or face-to-face interviews were conducted with personnel associated with project implementation in the Ministry of Land, Infrastructure and Transportation and LH, etc., and major interested parties including Yangcheon-gu residents. Key issues identified regarding Happiness Housing construction include: the way that the project was implemented, living quality of residents, impact on educational environment, inconsistence with existing plans, relatively high construction cost, insolvency of public corporations, land use fee issue with Korail, need of preliminary feasibility survey, securing sufficient amount for supply and issue of additional designation, likelihood of finishing construction in time and issues related with actual source of demand, etc. Through analysis of conflict development and positions of interested parties, the main causes of the conflicts were identified as follows: lack of deliberation on pledges during election, lack of viability review on pledges, lack of conflict management plans, one-way implementation without consent of interested parties, project plans established with no regard to local circumstances, frequent project revision, underwehlming level of conflict management. In order to address issues above, the following measures need to be taken: selecting election pledges based on actual effectiveness, thorough assessment on pledges by relevant departments, gradual implementation based on consideration of the actual circumstances, participation of key interested parties, consistent policy and adopting conflict management techniques that reflect the reality.

• 지역연구
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• 제15권1호
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• pp.75-92
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• 1999

In this study, the present state of fiscal crisis for local governments after IMF is analyzed, firstly. its implications Characteristics of structural reform of finance after IMF bailout in Korea are examined, secondly. Since Korea was shocked by the currency crisis at the end of 1997, its local governments have also faced fiscal difficulties. The Depression of national and local economies led to decreases in tax revenues of local governments. And these shrunken revenues led to their expenditure cuts. Many investment plans were curtailed, and ordinary expenditures were also reduced sharply. The negative influences of the currency crisis on local government's finances can be examined in terms of fiscal revenue, fiscal spending, and debt burden. As a result many local governments are now experiencing fiscal stress, and some of them are even faced with fiscal crisis although the possibility of extreme measures, such as moratoriums or bankruptcies, is very slim. This is due in part to the weight of debt in local governments' budgets having remained small since the debt of local governments has been controlled by the central government. Another reason is that, central government, which functions as a lender of last resort for the local governments, will pay the debt for them. Also, without a legal system which stipulates the adjudication of bankruptcy for municipalities in Korea, local Korean governments have no legal right to declare bankruptcy. Although not a single municipality has fallen into insolvency, yet, this trend will continue to deepen as the recession continues and may lead to a situation where manu local governments fall into virtual bankruptcy in the near future, and its effects on society, as a whole, will be serious. Therefore, measures to prevent and overcome such an extreme situation are necessary, but both short-and long-term policies should be to cope with the current fiscal crisis and to prevent the deepening of the current situation.

• 수산경영론집
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• 제33권2호
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• pp.99-125
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• 2002

Fisheries cooperative requires dual characteristics in performing its original function. Economic characteristic as an business enterprise and democratic characteristic as cooperative entity need to complete its objectives and survive in the complex rapidly-changing environment. After IMF crisis, fisheries cooperative received enormous government's financial support and credit-business department is perfectly under government's control. Regional fisheries cooperative also faces business failure, therefore pure cooperative movement can't save the fisheries cooperative. Economic characteristic as an business enterprise is more emphasized than democratic characteristic as cooperative entity in recent years. The theory of corporate ownership and governance can be applied to explain the ownership and governance of fisheries cooperative because fisheries cooperative is now similar to an business enterprise. During the IMF crisis the board, the auditors and the minority shareholders in business enterprise were revealed to be powerless against the mighty influence of controlling shareholders. Unconstrained discretion exercised by those controlling shareholders not only led to the firms'insolvency, but also brought down the country's financial system. During the past few years, Korea has experienced many institutional changes regarding its corporate governance structure. The introduction of outside directors, the strengthening of minority shareholders' rights, and enhanced accounting transparency are achieved to improve the efficiency of economic system. Investors, including institutional and individual, also seem to be more aware of governance issues now. Credit-business department of fisheries cooperative is recommended to introduce the institutions same as the case of the corporate governance structure. Fisheries cooperative except economic and credit-business department requires other prescriptions because it is emphasized as democratic cooperative entity. But we should be careful to interpret the ownership and governance structure because they are products of nations, eras and organizations.