• Title/Summary/Keyword: Investment Loss

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A Study on Participation Intention and Herd Behavior on Domestic Securities Type Crowdfunding Investors: Focusing on the Theory of Planned Behavior (국내 증권형 크라우드펀딩 투자자의 참여의도와 무리행동에 관한 연구: 계획된 행동이론을 중심으로)

  • Hwang, Nakjin;Lee, So-young
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.2
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    • pp.1-18
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    • 2020
  • This study is to identify the influence of major variables that affect the participation intention of securities type crowdfunding investors and how participation intention and perceived behavioral control affect investors' herd behavior including indirect effect analysis based on the theory of planned behavior. The ultimate purpose of this study is to understand the investment behavior of securities type crowdfunding investors and to help the relevant parties to develop various policies and business plans to revitalize the system and protect investors. An online survey was conducted on people who are interested or have experience in securities type crowdfunding to receive a total of 276 responses. Excluding outliers, a total of 261 responses were taken into account for the final analysis. For the data analysis, structural equation model analysis using SPSS 22.0 and Amos 22.0 statistical package was conducted. As a result, two of the major variables of the theory of planned behavior-attitude and subjective norm-have been found to have a positive effect on the participation intention of securities type crowdfunding investors. And after analyzing the indirect effect, the participation intention was found to play a mediating role between attitude, subjective norm and herd behavior. However, the perceived behavioral control presented as a major variable of behavioral intention in the theory of planned behavior showed that the effect on participation intention was statistically insignificant. Instead, it was found to have a direct positive effect on herd behavior. This is significant because it empirically confirmed that even if investors perceive securities type crowdfunding as easy to participate, perceived behavioral control does not seem to have a significant impact on participation intention because securities type crowdfunding is an investment in an early-stage business with a high risk of loss. On the other hand, the study has great significance in that it empirically confirmed that domestic securities type crowdfunding investors perceive the funding progress information provided by the platform as a signal and imitate many other investors, showing herd behavior when they actually make an investment. It is expected that this study will provide meaningful insights for the policy making of crowdfunding supervisory offices and platform operators by empirically identifying major variables that influence the participation intentions and herd behavior of domestic securities type crowdfunding investors.

Innovative approaches to the health problems of rural Korea (한국농촌보건(韓國農村保健)의 문제점(問題點)과 개선방안(改善方案))

  • Loh, In-Kyu
    • Journal of agricultural medicine and community health
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    • v.1 no.1
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    • pp.5-9
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    • 1976
  • The categories of national health problems may be mainly divided into health promotion, problems of diseases, and population-economic problems which are indirectly related to health. Of them, the problems of diseases will be exclusively dealt with this speech. Rurality and Disease Problems There are many differences between rural and urban areas. In general, indicators of rurality are small size of towns, dispersion of the population, remoteness from urban centers, inadequacy of public transportation, poor communication, inadequate sanitation, poor housing, poverty, little education lack of health personnels and facilities, and in-accessibility to health services. The influence of such conditions creates, directly or indirectly, many problems of diseases in the rural areas. Those art the occurrence of preventable diseases, deterioration and prolongation of illness due to loss of chance to get early treatment, decreased or prolonged labour force loss, unnecessary death, doubling of medical cost, and economic loss. Some Considerations of Innovative Approach The followings art some considerations of innovative approaches to the problems of diseases in the rural Korea. 1. It would be essential goal of the innovative approaches that the damage and economic loss due to diseases will be maintained to minimum level by minimizing the absolute amount of the diseases, and by moderating the fee for medical cares. The goal of the minimization of the disease amount may be achieved by preventive services and early treatment, and the goal of moderating the medical fee may be achieved by lowering the prime cost and by adjusting the medical fees to reasonable level. 2. Community health service or community medicine will be adopted as a innovative means to disease problems. In this case, a community is defined as an unit area where supply and utilization of primary service activities can be accomplished within a day. The essential nature o the community health service should be such activities as health promotion, preventive measures, medical care, and rehabilitation performing efficiently through the organized efforts of the residents in a community. Each service activity should cover all members of the residents in a community in its plan and performance. The cooperation of the community peoples in one of the essential elements for success of the service program, The motivations of their cooperative mood may be activated through several ways: when the participation of the residents in service program of especially the direct participation of organized cooperation of the area leaders art achieved through a means of health education: when the residents get actual experience of having received the benefit of good quality services; and when the health personnels being armed with an idealism that they art working in the areas to help health problems of the residents, maintain good human relationships with them. For the success of a community health service program, a personnel who is in charge of leadership and has an able, a sincere and a steady characters seems to be required in a community. The government should lead and support the community health service programs of the nation under the basis of results appeared in the demonstrative programs so as to be carried out the programs efficiently. Moss of the health problems may be treated properly in the community levels through suitable community health service programs but there might be some problems which art beyond their abilities to be dealt with. To solve such problems each community health service program should be under the referral systems which are connected with health centers, hospitals, and so forth. 3. An approach should be intensively groped to have a physician in each community. The shortage of physicians in rural areas is world-wide problem and so is the Korean situation. In the past the government has initiated a system of area-limited physician, coercion, and a small scale of scholarship program with unsatisfactory results. But there might be ways of achieving the goal by intervice, broadened, and continuous approaches. There will be several ways of approach to motivate the physicians to be settled in a rural community. They are, for examples, to expos the students to the community health service programs during training, to be run community health service programs by every health or medical schools and other main medical facilities, communication activities and advertisement, desire of community peoples to invite a physician, scholarship program, payment of satisfactory level, fulfilment of military obligation in case of a future draft, economic growth and development of rural communities, sufficiency of health and medical facilities, provision of proper medical care system, coercion, and so forth. And, hopefully, more useful reference data on the motivations may be available when a survey be conducted to the physicians who are presently engaging in the rural community levels. 4. In communities where the availability of a physician is difficult, a trial to use physician extenders, under certain conditions, may be considered. The reason is that it would be beneficial for the health of the residents to give them the remedies of primary medical care through the extenders rather than to leave their medical problems out of management. The followings are the conditions to be considered when the physician extenders are used: their positions will be prescribed as a temporary one instead of permanent one so as to allow easy replacement of the position with a physician applicant; the extender will be under periodic direction and supervision of a physician, and also referral channel will be provided: legal constraints will be placed upon the extenders primary care practice, and the physician extenders will used only under the public medical care system. 5. For the balanced health care delivery, a greater investment to the rural areas is needed to compensate weak points of a rurality. The characteristics of a rurality has been already mentioned. The objective of balanced service for rural communities to level up that of urban areas will be hard to achieve without greater efforts and supports. For example, rural communities need mobile powers more than urban areas, communication network is extremely necessary at health delivery facilities in rural areas as well as the need of urban areas, health and medical facilities in rural areas should be provided more substantially than those of urban areas to minimize, in a sense, the amount of patient consultation and request of laboratory specimens through referral system of which procedures are more troublesome in rural areas, and more intensive control measures against communicable diseases are needed in rural areas where greater numbers of cases are occurred under the poor sanitary conditions.

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A Proposal for the Improvement Method of Order Production System in the Display Industry (디스플레이산업에서 수주생산방식의 개선 및 효율화 제고 방안)

  • Cho, Myong Ho;Cho, Jin Hyung
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.39 no.4
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    • pp.106-116
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    • 2016
  • MTO (Make to Order) is a manufacturing process in which manufacturing starts only after a customer's order is received. Manufacturing after receiving customer's orders means to start a pull-type supply chain operation because manufacturing is performed when demand is confirmed, i.e. being pulled by demand (The opposite business model is to manufacture products for stock MTS (Make to Stock), which is push-type production). There are also BTO (Build to Order) and ATO (Assemble To Order) in which assembly starts according to demand. Lean manufacturing by MTO is very efficient system. Nevertheless, the process industry, generally, which has a high fixed cost burden due to large-scale investment is suitable for mass production of small pieces or 'mass customization' defined recently. The process industry produces large quantities at one time because of the lack of manufacturing flexibility due to long time for model change or job change, and high loss during line-down (shutdown). As a result, it has a lot of inventory and costs are increased. In order to reduce the cost due to the characteristics of the process industry, which has a high fixed cost per hour, it operates a stock production system in which it is made and sold regardless of the order of the customer. Therefore, in a business environment where the external environment changes greatly, the inventory is not sold and it becomes obsolete. As a result, the company's costs increase, profits fall, and it make more difficult to survive in the competition. Based on the customer's order, we have built a new method for order system to meet the characteristics of the process industry by producing it as a high-profitable model. The design elements are designed by deriving the functions to satisfy the Y by collecting the internal and external VOC (voice of customer), and the design elements are verified through the conversion function. And the Y is satisfied through the pilot test verified and supplemented. By operating this make to order system, we have reduced bad inventories, lowered costs, and improved lead time in terms of delivery competitiveness. Make to order system in the process industry is effective for the display glass industry, for example, B and C groups which are non-flagship models, have confirmed that the line is down when there is no order, and A group which is flagship model, have confirmed stock production when there is no order.

Insect Pest Resistance to Insecticides and Future Researches (해충의 살충제저항성과 금후대책)

  • Choi Seung Yoon
    • Korean journal of applied entomology
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    • v.22 no.2 s.55
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    • pp.98-105
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    • 1983
  • The rapid increase in cases of insect resistance to insecticides indicates that the contribution of present chemical control practices inevitably leads to exhaustion of available insecticide resources against key insect species. Now the problem of insecticide resistance exists worldwide among insects and mites affecting field crops and animals including human beings, ranging from minimal or absent in some developing countries, where use of insecticides has been low, to extremely severe in many developed countries. Since the occurrence of insect resistance to insecticides was firstly recognized in 1908, the increase in recent decades has been almost linear and now the number of species of insects and acarines in which resistant strains have evolved have been increased to a total of 432. Of these, $261(60\%)$ are agricultural importance and $171(40\%)$ of medical/veterinary importance. The phenomenon of insecticide resistance is asserting itself as the greatest challenge to effective chemical control of many important insect pests. Resistance of insects to insecticides has a history of nearly 80 years, but its greatest increase and its strongest impact have occurred during the last 40 years following the discovery and extensive use of synthetic organic insecticides and acaricides. The impact of resistance should be considered not only in terms of greater cost of pest control due to increased dosages and number of applications but also in terms of the ecological disruption of pest-beneficial species density relationships, the loss of investment in the development of the insecticides concerned, and socio-economic disruption in agricultural communities. Despite its grave economic consequences, the phenomenon of insecticide resistance has received surprisingly little attention in Korea. Since the study of insecticides started firstly in 1963, many entomologists have been concerned with this study. According to their results, some of the rice pests and some of the mites on orchard trees, for example, have developed worrisome level of resistance in several areas of this peninsula. With many arthropods, considerable advances in the developed countries have been made in the study of the biochemical and physiological mechanisms of resistance. Progress involves the biochemical characteristics of specific defense mechanisms, their genetics, interactions, and their quantitative and qualitative contribution to resistance. But their studies arc still inadequately known and relatively little have been contributed in terms of unique schemes of population management in achieving satisfactory pest control. It is apparent that there is no easy solution to resistance as a general phenomenon. For future challenging to effective control of insect pests which are resistant to the insecticides concerned, new insecticide groups with distinctly novel mode of action are urgently needed. It is clear, however, that a great understanding of the factors which govern the intensity of selection of field population for resistance could lead to far more permanently successive use of chemicals within the framework of integrated pest management than heretofore practiced.

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Analysis of Standard Income Regarding the Cultivation of Non-Timber Forest Products - Focused on major nuts and fruits - (단기소득임산물 재배 소득분석 - 주요 수실류를 중심으로 -)

  • Kang, Hag Mo;Chang, Cheol Su;Choi, Soo Im
    • Journal of Korean Society of Forest Science
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    • v.103 no.3
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    • pp.490-502
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    • 2014
  • This study investigates the cultivation processes of major nuts and fruits such as Ginkgo biloba L., Vitis coignetiae, Actinidia arguta Planch, Rubus coreanus Miq., and Rubus crataegifolius and analyzes standard income in order to provide foundational data necessary to make reasonable policies related with the criteria of compensating the loss of forest products or diagnosis of forestry management. According to the research results, the types of cultivation by items can be largely divided into open field culture and mountainous culture. Regarding the average annual income per unit area (3.3) by items, the open field culture of Ginkgo biloba L. was 1,060 Won, mountainous culture of Ginkgo biloba L. was 618 Won, open field culture of Vitis coignetiae was 5,891 Won, mountainous culture of Actinidia arguta Planch was 8,113 Won, open field culture of Rubus coreanus Miq. was 14,701 Won, and open field culture of Rubus crataegifolius was 17,482 Won or so; thus, the average annual income of Rubus coreanus Miq. and Rubus crataegifolius was very higher than that of the other items. In particular, because the production of Rubus crataegifolius starts two years after the planting and they rely on family labor mainly for the cultivation, the expenses for employment and labor were analyzed to be low. In addition, the analysis shows that at most of the nuts and fruits cultivation, initial investment costs for facilities or seedlings occupy a great part as about 30% averagely out of the management cost, so it is thought that the government should provide proper support to vitalize the cultivation.

Real-time Natural Disaster Failure Analysis Information System Development using GIS Environment (GIS환경의 실시간 자연재해정보를 연계한 재해고장분석시스템 개발)

  • Ahn, Yeon-S.
    • Journal of Digital Contents Society
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    • v.10 no.4
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    • pp.639-648
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    • 2009
  • Earth's environment issues are introduced recently and every year the social loss have been occurred by the impact of various disaster. This kind of disaster and weather problems are the increasing reason of electricity transmission network equipment's failures because of exposing by the natural environment. The emergency and abnormal status of electricity equipment make the power outage of manufacturing plant and discomfort of people's lives. So, to protect the electricity equipment from the natural disasters and to supply the power to customer as stable, the supporting systems are required. In this paper, the research results are described the development process and the outcomes of the real-time natural disaster failure analysis information system including the describing about the impact of disaster and weather change, making the natural weather information, and linking the realtime monitoring system. As of development process, according to application development methodology, techniques are enumerated including the real time interface with related systems, the analysing the geographic information on the digital map using GIS application technology to extract the malfunction equipment potentially and to manage the equipments efficiently. Through this system makes remarkable performance it minimize the failures of the equipments, the increasing the efficiency of the equipment operation, the support of scientific information related on the mid-term enhancement plan, the savings on equipment investment, the quality upgrading of electricity supply, and the various supports in the field.

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Fuel cell based CHP technologies for residential sector (연료전지와 마이크로 열병합 발전기술)

  • Son, Young Mok
    • Journal of Energy Engineering
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    • v.25 no.4
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    • pp.251-258
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    • 2016
  • This article reports current status of micro fuel cell-combined heat and power (${\mu}FC$-CHP) systems which utilize both power and heat generated by fuel cells. There are several options for constructing CHP systems and among them, fuel cells are the most useful and their total energy efficiency combining heat and power can reach up to about 90%. Fuel cells are classified as five types based on the electrolyte, but the most suitable fuel cell types for the ${\mu}FC$-CHP system are proton exchange membrane fuel cells (PEMFCs) and solid oxide fuel cells (SOFCs). ${\mu}FC$-CHP systems have several advantages such as decrease of the transmission-distribution loss, reduced costs of electricity due to distributed power generation, and environmental-friendliness owing to zero emission. The main drawback of the ${\mu}FC$-CHP systems is the high initial investment, however, it keeps decreasing as the technology development reduces production costs. Currently, Japan is the most leading country of the ${\mu}FC$-CHP market, however, Korea tries to expand the market by planning the deployment of 1 million units of ${\mu}FC$-CHP systems and governmental subsidiary supporting of half of the install price. In this report, integration technologies for connecting FC and CHP, and technology trends of leading countries are presented as well.

A Study on the Problems and Development of the Benefits in Work Injury Insurance (산재보험 급여체계의 합리화 방안에 관한 연구)

  • Kim, Jin-Soo
    • Korean Journal of Social Welfare
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    • v.37
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    • pp.119-141
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    • 1999
  • Korea paid attention to the work injury insurance in the early economic development stage as other developed countries did. Thus "The industrial Accident Compensation Insurance Law" was legislated in 1963 and it is now expanded to apply to the workplace with five or more employees. Beside the low coverage of the number of employees, the scope of benefits are the problem of work injury insurance. The work injury insurance's main benefits are for the loss of income and the medical cost caused by occupational accidents. On the other hand, the investment on the prevention accident and the medical, social and employment rehabilitation is very low, even though the occupational accident pension is higher than that in other OECD countries. Practically lay-off benefits and survivor' benefit for some special workers are paid more than they need, therefore they want to remain under the benefit condition and the medical care days are longer. This paper indicates the problems of work injury insurance and suggest how to improve the functions of it.

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A Research of Risk Assessment for Urethane Fire Based on Fire Toxicity (연소 독성 기반 우레탄 화재의 위험성 평가 연구)

  • Kim, Sung-Soo;Cho, Nam-Wook;Rie, Dong-Ho
    • Fire Science and Engineering
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    • v.29 no.2
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    • pp.73-78
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    • 2015
  • Fire in the risk management subject belongs to high risk disaster which accompanies personnel and materiel loss. So, management of disaster and safety is required to include fire prevention activities, fire risk prediction and investment of safety management expense. Combustion toxicity is required by gas toxicity test (KS F 2271), to minimize human damage. In this study, gas toxicity test were experimented with regard to urethane sample (Depth 5~25 mm) to obtain basic data. Fire effluent exposing to experimental animal were analyzed by FT-IR (Fourier transform infrared spectroscopy). Combustion toxicity index Lethal Fractional Effective Dose ($L_{FED}$) of ISO 13344 was calculated. According to the result of calculating Lethal Concentration 50% ($LC_{50}$) based on $L_{FED}$, $LC_{50}$ of urethane sample containing certain level of fire load is confirmed as $118{\sim}129g/m^3$. Through this study, applicability of this method was confirmed for fire risk assessment. This method can provide information to predict human damage by toxicity combustion gas for securing safety.

Analysis of Economic Effects and Basic Theoretical Frameworks of ITQ Fishery Management - Focusing on the Red Crab Trap Fishery - (ITQ 어업관리의 기본이론과 경제적 효과분석 - 붉은대게어업을 중심으로 -)

  • Lee Sang-Go;Lee Yong-Soo
    • The Journal of Fisheries Business Administration
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    • v.36 no.3 s.69
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    • pp.119-139
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    • 2005
  • The purpose of this paper is to provide information that will help both fishing industry and fisheries authority understand the principals of individual transferable quota(ITQ) fishery management. Theoretical frameworks and primary features of ITQ fishery managemenet are the assignment of exclusive property rights for harvest of common - property fisheries resources. An ITQ fishery management is fundamentally different from the conventional fishery management and it gives an individual fisherman the right to catch a specified quantity of fish, his quota. With ITQ, fisherman's quotas are transferable, in whole or in part. An ITQ is a property with certain rights of use, namely, the right to catch a given quantity and species of fish in a specific location during a specific period of time. The right is exclusive in the sense that no one else has the right to use the quota without the owner's permission. The property may be assigned, traded, and exchanged; i.e., the owner has the right to transfer an ownership to others. An ITQ fishery management leads to both economic efficiency and resource conservation. Motivations to overexploit stocks and to overcapitalize should be lessened because fishermen no longer have to compete for limited resources. There are significant positive net benefits and advantages with ITQ fishery management than without. The potential benefits and advantages of ITQ fishery management include increased profits, economic stability, improved product quality, safer working conditions, less gear conflict, elimination of the race - to - fish phenomenon, less by - catch, less gear loss, improved investment climate, mitigation of market gluts, waste reduction, addition to fisherman's wealth, and compensation for fisherman exiting the fishery. As an independent observe to Red Crab Trap Fishery some of the benefits, problems, and effects, an ITQ fishery management in Red Crab Trap Fishery is still far from to be implemented. Many different and difficult aspects (biological, socioeconomics, administrative) are involved considering the implementation of ITQ fishery management in Red Crab Trap Fishery. Among other fishery management tools, the implementation of ITQ fishery management in Red Crab Trap Fishery is considered to be the best in achieving the better conservation of fisheries resources and their more economic and rational exploitation. Korean fisheries authority should pay great attention to the experience of the economic effects of the ITQ fishery management in Red Crab Trap Fishery in the hope of being able to implement at least some of those experiences into the Korean fishery management.

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