• 한국중재학회지:중재연구
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• 제20권1호
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• pp.109-131
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• 2010

Investment Agreement is to be a part of FTA, as negotiating together both trade and investment. For example, it has a separate chapter about investment in KORUS FTA contract and is more detailed and inclusive than BIT contents which are traditional investment provisions. It is called to the investment norm of FT A. The investment agreement lures a foreign investment by providing the environment which is stable to the foreign investors. Hence, it plans in goal for the economic development of the home country. In international investment, the arbitration award cases are coming out to be divided into two parts applying MFN provisions in investor protective principles and dispute resolution process; the tendency of broad interpretation and the tendency of limited interpretation. In the case of RosInvest Co UK Ltd v. the Russian Federation awarded in 2007, the arbitration tribunal interprets that the application scope of MFN provisions contain the more lucrative dispute provision than other BITs without limitations in entity right of the investor. This judgment is the same view as arbitration tribunal position of Maffezini case. The arbitration tribunal of Plama case has kept out an assertion magnifying the arbitration tribunal's jurisdiction. That is, for applying more inclusive investor-nation resolution method from different treaty, tribunal mentioned that MFN provision had to see clearly a point of applying the investor-nation dispute resolution method. Dispute resolution process providing inclusive MFN provision has both the tendency of broad interpretation and the tendency of limited interpretation. It needs ceaselessly to do the monitoring about cases of arbitration award. In conclusion, the point where MFN provisions are applied conclusively is recognized, but it is still controversial whether or not to magnify the jurisdiction of arbitration tribunal applying MFN provisions. Therefore, it does not exist clear principle in the theory or in the award eases about the application scope for entity protection provision of MFN. Hence, The Korean government of Korea and local autonomous entities needs to keep their eyes on the trend of the international arbitration award cases in relation to the investment dispute for the future. Also, Korean government or local self-governing group must consider MFN provisions when they make a contract of international investment treaty such as writing concretely the application of MFN provisions from KORUS FTA.

• 한국건설관리학회논문집
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• 제21권5호
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• pp.29-37
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• 2020

본 연구는 주거용 부동산의 투자의사 결정에 영향을 미치는 요인에 대해 분석을 위해, 주거용 부동산 관련 전문가들을 대상으로 AHP와 퍼지이론을 활용한 설문분석을 통해 투자자의 관점에 따른 요인의 중요도 차이 및 우선순위를 비교 및 분석하였다. 분석 결과, 전체적으로 임대료, 수익성, 교통 접근성, 상권 및 인프라, 금융규제 등이 중요하며, 전문가그룹별로는 금융·여신 그룹은 수익성. 임대료, 교통 접근성, 공급물량과 세제 혜택을, 건설·개발 그룹은 교통 접근성, 임대료, 직주 접근성, 수익성과 상권 및 인프라를, 감정·평가 그룹은 임대료, 수익성, 교통접근성, 금융규제와 공급물량을 가장 중요한 투자의사결정 요인으로 도출하여 업무와 연관성이 있는 선호특성을 가지고 있다는 것을 알 수 있었다. 즉 부동산 투자특성에 있어 가격특성과 경제특성, 즉 재무적 관점에 가장 중점을 두고 있으며, 부동산특성 내 입지특성으로 교통 접근성과 상권 및 인프라 등 편의성을 중요하게 여고 있으며, 적극적인 부동산 투자확대를 위해서 시장의 금융규제 완화를 중요하게 생각하는 것으로 나타났다. 이러한 항목별 전문가그룹의 다양한 관점을 고려하여 주거용 부동산을 개발하는 사업자의 사업 타당성 분석과 수요자가 되는 일반 투자자들의 합리적인 의사결정에 도움이 되고자 한다.

• 한국지능정보시스템학회:학술대회논문집
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• 한국지능정보시스템학회 2005년도 춘계학술대회
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• pp.283-291
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• 2005

The development of mobile applications is fast in recent years. However, nearly all applications are for messaging, financial, locating services based on simple interactions with mobile users because of the limited screen size, narrow network bandwidth, and low computing power. Processing an algorithm for supporting a group decision process on mobile devices becomes impossible. In this paper, we introduce the mobile-oriented simple interactive procedure for support a group decision making process. The interactive procedure is developed for multiple objective linear programming problems to help the group select a compromising solution in the mobile Internet environment. Our procedure lessens the burden of group decision makers, which is one of necessary conditions of the mobile environment. Only the partial weak order preferences of variables and objectives from group decision makers are enough for searching the best compromising solution. The methodology is designed to avoid any assumption about the shape or existence of the decision makers's utility function. For the purpose of the experimental study of the procedure, we developed a group decision support system in the mobile Internet environment, MOBIGSS　and applied to an allocation problem of investor assets.

• 한국중재학회지:중재연구
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• 제23권3호
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• pp.127-147
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• 2013

Korea is, after China, the Asian country with the largest number of concluded investment treaties. One of the protections that Korean investment treaties frequently afford to foreign investors and their investment is the so-called "umbrella clause," which requires the host state of the investment to observe the commitments that it has undertaken toward the foreign investor or its investment. This is a potentially very powerful protection. Umbrella clauses, however, have proven to be amongst the most controversial provisions in investment treaties, giving rise to diverging interpretations by tribunals and commentators that are still not reconciled today.

• The Journal of Asian Finance, Economics and Business
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• 제7권5호
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• pp.51-60
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• 2020

The paper examines the characteristics and causes of the expectation gap of audit and assurance services. The paper has conducted three surveys with three target groups. In the first survey, participants are auditors, users of audit reports are subject in the second survey and in the third survey, and students major in auditing are selected. The content of the survey aims to find out the differences in perception of the survey participants on two issues: (i) responsibilities of auditors for detection frauds, errors, protection of the enterprise's assets and financial scandals, and (ii) the role of audit and auditors in making investment decisions and investor's belief. The research carried out survey from March to September 2019 with 165 responds. The collected data was processed by statistical software SPSS, version 23, and Mann-Whitney U test was used to analyze the results of the audit expectation gap between the auditor group and the users of audit report group and between the student group and users of audit report group. The results showed that there exists an expectation gap in the responsibility of auditors for detection of all frauds, errors and protection enterprise's assets. Recommendations include strengthening audit standards, penalizing bad practices and ensuring auditor's independence.

• World Technopolis Review
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• 제5권1호
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• pp.61-70
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• 2016

Entrepreneurship development has increasingly become a global solution to address the problem of rising unemployment. Science, Technology and Innovation (STI) have become important tools in improving the economic performance and social well-being of nations. When universities and industry work together to push the boundaries of knowledge, they become a powerful engine for innovation and economic growth. This paper is based on focus group interviews and discussions conducted with key players involved in the HIT-Sandown-UNDP Business Incubation Programme in Harare Zimbabwe. The business incubation project sought to support young Zimbabweans to transform their technical prototypes into commercially and socially viable ventures. As a result, a total of 10 prototypes were refined and investor ready business plans were developed for capital sourcing purposes. It was only through the coming together of the partners that real transformation of the lives of the participants was achieved through learning valuable business skills, coaching and mentoring. University-industry partnerships are a useful vehicle of setting up sustainable business incubation centres.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.919-926
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• 2020

The purpose of this study is to analyze and test the effect of financial ratios and macroeconomics on Islamic stock returns listed in Jakarta Islamic Index (JII) other than to assess whether investment risk can be an intervening variable in this study. The type of research is explanatory in nature with a quantitative descriptive approach. The data used is based on secondary sources with a sample group of 29 companies listed on JII for a 5-year period ending 31 December 2018. The data obtained were analyzed by using SEM (Structural Equation Model) with AMOS (Analysis Moment of Structural) 21 program. The results of the study show that only financial ratios affect sharia stock returns and investment risk, while the mediation test found that investment risk does not act as a mediating variable between financial ratios and macroeconomics and Islamic stock return. These findings indicate that the role of the company's financial health is very important. Besides affecting the rate of return obtained, the company's financial health can also reflect the level of risk that investors will accept in the future. By improving financial performance properly, a company will have a positive impact on various interested parties and minimize the level of investor losses.

• 정보학연구
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• 제1권2호
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• pp.181-193
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• 1998

주가지수선물거래에 있어 외국인의 투자제한이 완전히 철폐된 상태이고, 특히 이들 거래가 우리나라 기관투자자 뿐만 아니라 일반개인에게까지 정보의 주도자로써 미치는 영향이 클 수밖에 없다. 그래서 이들 외국인이 우리나라 선물시장에서 과연 어떠한 거래를 하고 있는 지에 대하여 비거주외국인은행, 비거주외국인증권회사, 비거주외국인계약형투신, 비거주외국인기타법인, 거주외국인증권회사로 구체화시켜 분석하였다. 이 논문은 외국인의 하루중 투자가 어떠한 패턴을 그리고 있으며 특히 이들 외국인간의 정보유입에 따른 시간대별 유의적인 차이를 보이고 있는지에 대하여 실증분석하였다.

• International Journal of Human Ecology
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• 제8권1호
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• pp.79-94
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• 2007

Previous studies showed that traditional attitudes toward consumer credit and the accumulation of debtare declining, especially among younger life stage groups. The social stigma of high debt levels has largely gone. However, only a few researchers have studied and changes in consumers' attitudes toward credit and its determinants. This study investigates factors related to the probability of respondents having favorable or unfavorable attitudes using the 1992-2004 U.S. Surveys of Consumer Finances. A logistic analysis was used since the dependent variables were binary. All other things equal, respondents in 1995, 1998, 2001 and 2004 were significantly less likely to have favorable or unfavorable attitudes toward credit than otherwise similar respondents in 1992, but the patterns did not correspond well to the changes in the bankruptcy rate. Black and Hispanic respondents were more likely to have favorable attitudes and less likely to have unfavorable attitudes than were otherwise similar white respondents, but those in the Other group, mostly Asians, were not significantly different from whites. Respondents with college degrees were less likely to have a positive attitude and more likely to have a negative attitude than those without a college degree. Respondents who took risks with investments were more likely to have a positive attitude and less likely to have a negative attitude than those unwilling to take risks. Implications for understanding of credit use are discussed. This publication was made possible by a generous grant from the NASD Investor Education Foundation.

• The Journal of Asian Finance, Economics and Business
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• 제3권3호
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• pp.5-15
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• 2016

This study examines whether Korean rating agencies such as Korea Investors Service (KIS), National Information & Credit Evaluation (NICE), and Korea Ratings Corporation (KR), incorporate corporate governance into their corporate bond ratings in Korea. We find that the Korean rating agencies assign higher ratings to the bonds issued by Chaebol (Korean business group) affiliated firms. Our results also indicate that those rating agencies give higher ratings to the bonds with greater foreign investor share ownership. Moreover, if the rating agencies value corporate governance, higher rated firms should issue bonds at lower yield to maturity. We discover that Chaebol affiliation is counted favorably by the rating agencies. We find that investors are willing to pay lower risk premium for bonds with higher institutional ownership, but higher risk premium to bonds with greater equity ownership in the form of depository receipts. Therefore, even if the rating agencies and investors in Korea consider corporate governance (Chaebol affiliation and ownership structure) an important determinant in bond ratings and the yields to maturity, they have opposite views on institutional ownership and share ownership in the form of depository receipts.