• Title/Summary/Keyword: Liabilities

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The Liabilities of Shipowners and Compensation for Marine Pollution Damage by Oil (유류에 의한 해양오염 피해에 대한 선주책임 및 보상제도)

  • 박명섭
    • The Journal of Fisheries Business Administration
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    • v.25 no.2
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    • pp.59-87
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    • 1994
  • While overall input of oil into the sea has actually declined over the years 1975-92, major spills have regularly occurred in certain locations which have had serious effects upon local environments and hence caused public outcry. The purpose of this paper is to suggest the scheme for maximizing the compensation for oil pollution, which can be adopted in Korea, by analysing the mandatory 1969 Civil Liability Convention(CLC), the 1971 Fund Convention and two voluntary schemes (TOVALOP andCRISTAL). The paper examines the major subjects which are as follows : major pollution incidents and international response, the present situation of oil pollution in Korea, the role of flag of convenience tankers in oil pollution, the mode of oil pollution damages and tanker owner's liability, international compensation system fer oil pollution, Korean compensation system for oil pollution damage, and its problems to be tackled.

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A Comparative Review of the International Occupational Health and Safety Management Systems for Global Standardization (국가별 산업안전관리 및 인증 체계와 산업안전보건 경영시스템의 국제표준화 방향)

  • 김상호
    • Journal of the Korea Safety Management & Science
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    • v.3 no.2
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    • pp.33-49
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    • 2001
  • This article is concerned with various aspects of establishing the global standard for occupational safety and health management system (OHSMS). The notion, main features, and brief history of the OHSMS are presented. The OHSAS 18000, its assets and liabilities, are reviewed as a prototype of the global standard. It is also addressed the possibility of combining ISO 9000(quality management system), 14000(environmental management system) and the OHSMS into the integrated management system (IMS) as a whole. The concepts of internal and external customers are presented to explain why the environment, safety and health should be incorporated into the notion of total quality 'Participation of the members' and 'standardization of the 4Ms (Man, Machine, Materials and Method)'are emphasized as the major enablers of the IMS. Finally, the industrial, academic and governmental roles are discussed for developing the IMS and setting it down into the Korean industries.

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Financial Structural and Operational Characteristics and Management Decision-making Behavior of the Red-figured Hospitals (적자병원의 재무구조 및 운영적 특성과 경영의사결정 행태)

  • Hwang, In-Kyoung
    • Korea Journal of Hospital Management
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    • v.4 no.2
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    • pp.305-329
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    • 1999
  • Financial ratio indicators of the 46 sample hospitals provided by the Korea Health Industry Development Institute, together with the survey data responded by the 57 sample hospitals, were analysed to identify the characteristics of the red-figured hospitals' financial structure, financial operational efficiency and management decision-making behavior, The financial characteristics identified through the analysis include high dependency to liabilities, high salary expenses and overhead costs, low profitability of the unduly large amount of fixed assets, and low managerial efficieny of inventory. The hospitals, in face of the IMF economic impasse, took the necessary decision-making and counter measures to cut down salary expenses, to increase the number of patient and medical revenue, and to reduce investment to fixed assets. Based on these findings this study suggested that the hospitals should take more active cost containment measures, financial structural reorganization, and developoment of the strategies that can contribute to increase of the number of patient and medical revenue and that do not. require much capital funds.

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Design and Implementation of Delphi System using Instant Messenger

  • Park, Hee-Chang;Cho, Kwang-Hyun
    • Journal of the Korean Data and Information Science Society
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    • v.16 no.1
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    • pp.51-58
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    • 2005
  • The purpose of the Delphi technique is to elicit information and judgments from participants to facilitate problem-solving, planning, and decision-making. It does so without physically assembling the contributors. Instead of it, information is exchanged via mail, FAX, or email. This technique is designed to take advantage of participants' creativity as well as the facilitating effects of group involvement and interaction. It is structured to capitalize on the merits of group problem-solving and minimize the liabilities of group problem-solving. In this paper, we design and implement delphi system using instant messenger.

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A Study on the Actual Carrier in Carriage of Goods by Sea in Maritime Code of China (중국해상법상의 해상물건운송 중 실제운송인에 관한 연구)

  • Ma, Yanqiu
    • Journal of the Korean Institute of Navigation
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    • v.25 no.3
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    • pp.269-281
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    • 2001
  • Along with the development of marine transport, there emerged the concept of actual carrier. Actual carrier is a special subject in marine cargo transportation. The provisions regarding actual carriers have first been established in the Hamburg Rules and are introduced into the Maritime Code of PRC(hereinafter called the Code). But in China, because of different opinions in the legal interpretation of actual carriers, there is much divergence in practice. The purpose of this paper is to make a study on the definition of the actual carrier, the identity of the actual carrier and the liabilities of the actual carrier in the Code.

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The Applicant's Liability of Examination of Document and Notification of the Discrepancies in Credit Transaction (신용장거래에 있어서 개설의뢰인의 서류심사 및 통지의무)

  • Park, Kyu-Young
    • International Commerce and Information Review
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    • v.8 no.4
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    • pp.105-121
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    • 2006
  • This study is related with the judgements of our country's supremcourt against the transaction of Letter of Credit which is beneficiary's fraudulent trade deal. In this case I think to analyse the judgements and to present the basic grounds on which the judgements were established. In Letter of Credit transaction, there are the major parties, such as, beneficiary, issuing bank, or confirming bank and the other parties such as applicant, negotiating bank, advising bank and paying bank. Therefore, in this cases, the beneficiary, the French Weapons' Supplier who did not shipped the commodities, created the false Bill of Lading, let his dealing bank make payment against the documents presented by him and received the proceeds from the negotiating bank or collecting bank, thereafter was bankrupted and escaped. For the first time, even though the issuing bank conceived that the presented documents were inconsistent with the terms of L/C. it did not received the payment approval from the applicant against all the discrepancies, made the negotiating bank pay the proceeds to exporter and thereafter, delivered the documents to the applicant long after the time of the issuing bank's examination of documents. The applicant who received the documents from the issuing bank, instantly did not examine the documents and inform to the issuing bank whether he accepted the documents or not. Long time after, applicant tried to clear the goods through custom when he knew the bill of ladings were false and founded out the documents had the other discrepancies which he did not approved. As the results, the applicant, Korea Army Transportation Command claimed, that the issuing bank must refund his paid amount because issuing bank examined the documents unreasonably according to u.c.p 500 Act 13th, 14th. In spite of the applicant's claim, the issuing bank argued that it paid the proceeds of L/C reasonably after receiving the applicant's approval of an discrepancy of document, the delayed shipment, but for concerning the other discrepancies, the trivial ones, the applicant did not examined the document and noticed the discrepancies in reasonable time. Therefore the applicant sued the issuing bank for refunding it's paid proceeds of L/C. Originally, this cases were risen between Korea Exchange Bank and Korea Army Transportation Command. As result of analysing the case, the contents of the case case have had same procedure actually, but the lower courts, the district and high courts all judged the issuing bank was reasonable and did not make an error. As analysing these supreme court's judgements, the problem is that whether there are the applicant's liability of examining the documents and informing its discrepancies to the issuing bank or not, and if the applicant broke such a liabilities, it lost the right of claiming the repayment from issuing bank. Finally to say, such applicant's liabilities only must be existed in case the documents arrived to the issuing bank was delivered to the applicant within the time of the documents examination according to u.c.p 500 Act 14, d. i. But if any the documents were delivered to applicant after time of the documents examination, the applicant had not such liabilities because eventhough after those time the applicant would have informed to the issuing bank the discrepancies of documents, the issuing bank couldn't receive repayment of its paid proceeds of document from the negotiating bank. In the result after time of issuing bank's examination of documents, it is considered that there's no actual benefit to ask the applicant practice it's liability. Therefore finally to say. I concluded that the Suprem Court's judgement was much more reasonable. In the following, the judgements of the supreme court would be analysed more concretely, the basic reasons of the results be explained and the way of protecting such L/C transaction would be presented.

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A Study on The Factors Affecting the Managerial Performance of Hospitals (병원경영의 수익성 결정요인에 관한 연구)

  • Chung Bhum-Suk
    • Management & Information Systems Review
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    • v.17
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    • pp.107-133
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    • 2005
  • The purpose of this study was to analyze a trend of profitability classified by characteristics of hospitals and to analyze related factors. The data for this study were derived from survey material conducted by the Korean Hospital Association on 33 hospitals in Korea between 1993 and 2002. Profitability was measured in the aspect of investment profit rate and operation profit rate with net profit to total assets, normal profit to total assets and operating margin to gross revenue as dependent variables. Independent variables were classified by general factors (ownership, number of beds, period of establishment, region), financial factors (total asset turnover, liabilities to total assets, current ratio, fixed ratio, inventories turnover, personnel costs per operation profit, material costs per operation profits), composition of manpower and facilities(personnel and area per beds), productivity index(the number of daily patients per medical doctor, the number of daily patients per nurse), the score of quality assurance activities. First, Concerning the specialists per beds or area per beds and profitability of hospitals there was not statistically significant. Second, Those hospitals having the most daily patients per nurse had significantly higher profitability than the others, but the number of daily patients per medical doctor had little effect on the profitability. Thirds, Those hospitals having a higher proportion total asset turnover tended to show significantly higher profitability compared to other hospitals, but the liabilities to total assets and liquidity ratio had a little difference to the profitability. Those hospitals having a higher proportion personnel costs per operation profit and material costs per operation profits tended to show significantly lower hospital profitability compared to other hospitals. Fourth, In regression analysis, hospital profitability had negative relationship with personnel costs per operation profit or material costs per operation profits. While it had positive relationship with total asset turnover, the number of daily patients per nurse. In conclusion, private hospitals had higher profitability than that of public hospitals. Though factors related to profitability of hospital were different according to ownership, it is important for securing appropriate profitability by operating appropriate number of nurse, raising total asset turnover, and reducing personnel costs, material costs per operation profits. This study can be used as a baseline data for planning of hospital management. But the study may be limited in that the results cannot be generalized due to its small sample size. However, this longitudinal observation of 33 hospitals over ten year period has significant merit alone.

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The Effects of Other Comprehensive Income Items on Firm Value of Insurance Companies (보험회사의 기타포괄손익항목이 기업가치에 미치는 영향)

  • Lee, Hyun-Joo;Park, Gu-Yong;Park, Sang-Seob
    • Management & Information Systems Review
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    • v.36 no.3
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    • pp.203-217
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    • 2017
  • This study aims to verify the effects of unrealized gain or loss, that is the fair value evaluation item of insurance company's assets and liabilities, to capital markets focusing on fair value evaluation of insurance company's liabilities, which is the core of IFRS 17 that will be implemented in 2021. For this purpose we carried out regression analysis to verify the effects of changed other comprehensive income(OCI) and accumulated OCI, published in quarterly financial statements of listed insurance companies, on stock price utilizing Ohlson(1995)'s extended test model. The results of the empirical analysis are as follows. First, changed OCI showed a significant negative(-) effects on stock price. Second, accumulated OCI revealed a significant positive(+) effects on stock price. Furthermore, extended test model classifying changed OCI and accumulated OCI in a basic model represented the highest $R^2$ number and public announcement policy of OCI, a kind of unrealized gain or loss item, implied that it could give positive impact on accounting information. But still the direction that unrealized gain or loss affects on firm value must be carefully reviewed and considered in the future via more detailed study by the user of information. Therefore this study is meaningful in that it can predict usefulness of information on insurance company's fair value evaluation via empirical test accompanied by introduction of newly established IFRS 17 and it also can suggest direction of information production suitable for capital market.

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Optimal Asset Allocation for National Pension Considering Cohort-Specific Internal Rates of Return (코호트별 내부수익률을 고려한 국민연금 적정 자산배분)

  • Dong-Hwa Lee;Daehwan Kim
    • Journal of the Korea Society for Simulation
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    • v.32 no.4
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    • pp.69-76
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    • 2023
  • To improve the financial stability of the National Pension, an appropriate target rate of return should be established based on pension liabilities, and asset allocation policies should be formulated accordingly. The purpose of this study is to calculate the target rate of return considering the contributions of subscribers and the pension benefits, and based on this, derive an asset allocation. To do this, we utilized the internal rate of return methodology to calculate the target rate of return for each cohort. And then, we employed a Monte Carlo simulation-based re-sampling mean-variance model to derive asset allocation for each cohort that satisfy the target rate of return while minimizing risks. Our result shows that the target rate of return for each cohort ranged from 6.4% to 6.85%, and it decreased as the generations advanced due to a decrease in the income replacement rate of the National Pension. Consequently, the allocation of risky assets, such as stocks, was relatively reduced in the portfolios of future generations. This study holds significance in that it departs from the macroeconomic-based asset allocation methodology and proposes investments from an asset-liability management perspective, which considers the characteristics of subscribers' liabilities.

A Study on the Platform Utilization Strategy and Growth of a Start-Up: Focusing the Case Study of 'Genie the Bottle' (신생 기업의 플랫폼 활용 전략과 성장에 관한 연구: '지니더바틀' 사례를 중심으로)

  • Juhee Kim;Minju Shin
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.2
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    • pp.81-93
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    • 2023
  • Under the digital economy, companies are facing a new business environment. Previous studies with a traditional perspectives on start-ups explained they are at a disadvantaged compared to large companies in mobilizing resources and building new relationships. However, recent researches on the digital economy and platform ecosystems have suggested that digital platforms can be an efficient means of overcoming the liabilities of smallness and newness for start-up companies. Through platforms start-ups can secure routes to mobilize resources, collect and analyze market information. Especially as various platorms are established within categorized industry or market, unique characteristics and market awareness regarding an individual startup company have been formed. Accordingly there is also an advantage that startup companies have umbrella effect by participating in the platform. From this point of view, this study describes the process by which a start-up company effectively utilizes a platform to overcome the liabilities of newness and smallness through the case the study of 'Genie the Bottle'. The results suggest that platforms play a crucial role for start-ups to secure awareness and legitimacy and grow the market in the beauty industry in which high consumer involvement is dominant.

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