• East Asian Economic Review
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• 제17권4호
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• pp.361-383
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• 2013

We find that institutional quality of an individual country was highly and significantly correlated with its economic performance in the euro area. We argue that governance reforms proposed at present do not suffice to resolving the fundamental problems of the EMU governance system unless disparities of institutional quality in member states are dissolved. Regarding regional integration, East Asia is far behind the Eurozone not only in institutional elements of the governance system but also in institutional quality at the level of individual nations.

• 정보관리연구
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• 제36권1호
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• pp.1-32
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• 2005

현재의 학술 커뮤니케이션 위기는 잡지의 위기가 아니라 정보 유통상의 광범위한 위기이다. 그것은 STM 학술지의 구독비용이 대학도서관의 예산 증가율을 상회함에 따라 학술 및 연구자료의 접근력이 축소되거나 상실되는 것을 의미한다. 그래서 오픈 액세스 잡지(OAJ), 저자 셀프 아카이빙(ASA), 학술기관 레포지터리(AIR)를 전략적 수단으로 하는 오픈 액세스가 대안으로 등장하였다. 이에 본 연구는 오픈 액세스의 최근 동향을 개관하고, OA 전략에 내재된 장애요소와 다양한 현안인 학술정보의 공공재 논쟁, 무료접근의 신화와 한계, 저자의 비용지불 모델, 저작권 귀속문제 등을 분석한다.

• Journal of Korea Trade
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• 제26권4호
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• STI Policy Review
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• 제4권1호
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• pp.119-134
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• 2013

The Fukushima nuclear incident of 2011 served as an external shock that prompted Japan to reform its nuclear energy sector. The collusive relationship between the regulators within the Japanese government and the regulated power industry, as well as the lack of institutional independence of the regulatory agency, had derailed Japanese efforts to reform the sector for decades. The Fukushima crisis exposed these deeply-entrenched flaws in the system, causing public distrust and anger toward the government and the nuclear power sector. This paper discusses the institutional reform measures the Japanese government introduced in the wake of the Fukushima crisis to recover public confidence and revamp the sector to prevent future disasters. The paper also discusses the challenges the Japanese government faces on its road to a successful implementation of nuclear sector reforms.

• 경영과정보연구
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• 제33권1호
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• pp.83-97
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• 2014

본 연구는 우리나라 기업들을 대상으로 기관투자자의 대량주식보유가 시장유동성에 미치는 영향을 분석하였다. 기관투자자의 대량주식보유는 기관투자자 대량주식보유의 수와 그 보유비율을 사용하였다. 시장유동성은 Amihud(2002)의 비유동성 측정치를 사용하였다. 분석의 결과 첫째, 전체표본을 대상으로 분석한 결과에서, 기관투자자 대량주식보유의 수와 Amihud의 비유동성 측정치 사이에는 유의한 음(-)의 관계가 나타났다. 그러나 기관투자자 대량주식보유의 수를 중심으로 그룹을 세분화하여 분석한 결과, 기관투자자 대량주식보유의 수와 Amihud의 비유동성 측정치 사이에는 일관된 결과가 나타나지 않았다. 이것은 기관투자자 대량주식보유의 수가 시장유동성에 미치는 영향은 단순하지 않는 것을 의미한다. 둘째, 기관투자자 대량주식보유비율 합계와 Amihud의 비유동성 측정치 사이에서, 그룹3(11.71%~17.38%)과 그룹4(7.45%~11.65%)에서 유의한 음(-)의 관계를 보이는 것으로 나타났다. 이러한 결과는 기관투자자의 대량주식보유비율이 그룹3과 그룹4에 속하는 기업에서 시장유동성이 개선됨을 의미한다. 셋째, 기관투자자 대량주식보유의 수와 그 보유비율은 글로벌 금융위기 이전기간과 이후기간 보다는 당해기간(2008)에 더 유의하게 시장유동성에 영향을 미치는 것으로 나타났다.

• 디지털산업정보학회논문지
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• 제4권4호
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• pp.113-125
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• 2008

This paper investigates the spillover effects(co-movements) between korean and U.S stock market by KOSPI and DJIA Index. Especially it compare to the pre- and post period of U.S. financial crisis resulted from sub-prime mortgage loan. The main results are as follows. First, the spillover effects of DJIA(U.S. market) to KOSPI(Korean market) are strong. This result accord with the former researches on this subject. Second, spillover effects are more strong after U.S. financial crisis. A possible reason for this phenomenon is a trend which the major investors such as foreign and institutional investors in domestic stock market have more attention to U.S. stock market. Third, the spillover effects appear in the opposite direction, that is KOSPI(Korean Stock Market) to DJIA(U.S. Stock Market). It seems to be the results of asian stock market's growing infIuences to European and U.S Markets.

• Radiation Oncology Journal
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• 제38권2호
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• pp.93-98
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• 2020

Purpose: Due to COVID 19 pandemic, the treatment of cancer patients has become a dilemma for every oncologist. Cancer patients are at an increased risk of immunosuppression and have a higher risk to acquire any infection. There are individual experiences from some centers regarding the management of cancer patients during such a crisis. So we have developed our institutional strategy to balance between COVID and cancer management. Materials and Methods: Radiation Oncology departmental meeting was held to prepare a consensus document on Radiotherapy schedules and department functioning during this pandemic. Results: Strategies were taken in form of following areas were steps need to be taken to decrease risk of infection, categorise treatment on the basis of priority, radiotherapy schedules modification, academic meetings and management of COVID positive patient/personnel in Radiation Oncology department. Conclusion: We hope to strike the balance in overcoming both the battles and emerge as winners. Stringent long term follow up will be done for assessing the response or any unforeseen treatment related sequelae.

• 보건의료산업학회지
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• 제9권3호
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• pp.247-254
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• 2015

Objectives : The aim of this study was to analyze the influence of foreign and institutional investors in the pharmaceutical industry on R&D investments. Methods : The empirical analysis was done for the years 2009 to 2013 which examined the period after the influence of the financial crisis. Financial statements and comments in general and internal transactions were extracted from the TS-2000 of the Korea Listed Company Association. STATA 12.0 was used as the statistical package for the panel analysis. Results : The results show that the shareholding ratio of foreigner investors turned out to have a statistically significant influence on R&D investment. No statistical significance was found in the shareholding ratio of institutional investors. Conclusions : The findings of this study, which indicate that a higher shareholding ratio of foreigner investors leads to greater R&D investment, indicate that foreign investors directly or indirectly impose pressure on a manager to make R&D investments for the long-term.

• KDI Journal of Economic Policy
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• 제42권4호
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• pp.59-90
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• 2020

U.S. monetary policy has been claimed to generate global spillover and to destabilize other small open economies. We analyze the effects of certain identified U.S. monetary shocks on gross capital flows in the Korean economy using the local projection method. Consistent with previous results on other small open economies, we initially confirm that U.S. interest rate hikes are dynamically correlated with foreign outflows and residents' inflows. That is, not only are they correlated with withdrawals by foreigners but they are also correlated with those by domestic (Korean) investors. The results are mostly driven by portfolio flows. Second, however, the marginal response to a U.S. monetary policy shock is, on average, subdued if we focus on the sample periods after the Global financial crisis of 2007-2008 (henceforth, global financial crisis). We conjecture a possible reason behind the change, an institutional change related to financial friction. If the degree of pledgeability of the value of net worth increases, the marginal responses by both investors would drop with a U.S. monetary policy shock, consistent with our findings.

• 한국컴퓨터정보학회논문지
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• 제19권3호
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• pp.163-170
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• 2014

사이버공간은 시공간을 초월하여 범세계적으로 상호 밀접한 관계를 맺고 있으며, 이미 우리 생활의 가장 중요한 영역 중 하나로 자리 잡았다. 그러나 과거 1.25 인터넷 대란과 같은 전국적 규모의 국가 주요 정보통신망 마비사태 등에서처럼 국내 또는 해외로부터의 조직적인 사이버테러가 발생한다면 국가기밀 및 첨단기술의 유출 등 우리 사회 전반에 중대한 해악을 미칠 수 있는 사이버위기의 발생 가능성이 날로 증대하고 있다. 그러나 우리는 아직까지 국가적 차원에서 사이버안전 관리 업무를 체계적으로 수행할 수 있는 법제도적인 절차가 정립되어 있지 않아, 사이버위기 발생 시에 국가적 또는 개인적 측면에 막대한 손해를 끼칠 가능성이 높다. 이에 이 연구에서는 우리의 사이버안전 관련 입법례를 살펴보고, 주요국의 관련 법제에 대한 비교법적 검토를 통해 우리의 사이버안전 관리 규정의 개정방향에 관한 시사점을 제시하고자 한다.