• Korean Security Journal
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• no.13
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• pp.145-168
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• 2007

Like to change to the information-oriented society, the guard service needs to be changed. The communication and hardware technology develop rapidly and according to the internet environment change from cable to wireless, modern person can approach every kinds of information service using wireless communication machinery which can be moved such as laptop, computer, PDA, mobile phone and so on, LBS field which presents the needing information and service at anytime, anywhere, and which kinds of device expands it's territory all the more together with the appearance of ubiquitous concept. LBS use the chip in the mobile phone and make to confirm the position of the joining member anytime within several tens centimeters to hundreds meters. LBS can be divided by the service method which use mobile communication base station and apply satellite. Also each service type can be divided by location chase service, public safe service, location based information service and so on, and it is the part which will plan with guard service development. It will be prospected 8.460 hundred million in 2005 years and 16.561 hundred million in 2007 years scale of market. Like this situation, it can be guessed that the guard service has to change rapidly according to the LBS application. Study method chooses documentary review basically, and at first theory method mainly uses the second documentary examination which depends on learned journal and independent volume which published in the inside and the outside of the country, internet searching, other kinds of all study report, statute book, thesis which published at public order research institute of the Regional Police Headquarter, police operation data, data which related with statute, documents and statistical data which depend on private guard company and so on. So the purpose of the study gropes in accordance with the LBS application, and present the problems and improvement method to analyze indirect of manager side of operate guard adaptation service of LBS, government side which has to activate LBS, systematical, operation management, manpower management and education training which related with guard course side which has to study and educate in accordance with application of the new guard service, as well as intents to excellent quality service of guard.

• 한국벤처창업학회:학술대회논문집
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• 2006.04a
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• pp.45-75
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• 2006

How much influence does a business plan have on a corporate performance? Whilst previous studies and literatures all assert a strong correlation between the two, very few have actually conducted practical analyses to support that. This study takes an empirical approach in its analysis of Korea' s small and medium-sized enterprises (SME) with the view to finding an answer to the question. A business plan' s components, which have to date been suggested only in theory and in concept, have been selected through the study of literatures and preliminary examination. The selected components were then narrowed down into five factors of productivity, implementation, operational direction, product/service and customer accessibility by applying factor analysis. With which items to measure corporate performance is also an important question as results differ depending on which measurement items were used. For the purpose of this study, corporate performance was classified into effectiveness, adaptability and efficiency to measure how greatly each is influenced by the components of a business plan. Results show that effectiveness and adaptability have a positive (+) influence on corporate performance. The regression model seems to explain effectiveness particularly well. However, different directions of influences were showed in explain power of the research model were not high. And it can be interpreted that implementation of the plan is as important as the establishment of it. Thus a good corporate performance is to be had only under an excellent plan and following an excellent implementation. In most of the companies surveyed, business plans were established regularly led by the intense involvement of the CEO. Such plans were then used in internal operations, such as guiding operational direction and measuring corporate performance. Unlike general expectations, relatively few companies used them in financing from external sources such as banks or venture capitals. These findings are different from previous studies conducted in this field. Also, as market uncertainty was pointed out as the biggest obstacle to business planning. a manager must pay more attention to acquiring external information and knowledge so as to minimize it.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.4
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• pp.245-261
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• 2020

The aim of this study is to investigate the correlation between the support activities provided by the franchiser and how they affect the intention of the contract renewal and business performances made by franchisees, developing dynamic trust between these transactional partners. Various supportive activities between franchiser and franchisees were divided into financial and non-financial activities and dynamic trust into Transitional-based trust, Calculative-based trust, Relational-based trust, and Balanced-based trust. These trust types, which are variable and adjustable based on the opportunistic behaviors of business parties, were applied to define the impact of the support activities on the contract renewal intention and the performances. This study was developed around domestic franchisees. An investigator visited business owners and manager level-employees, explained the purpose of the survey prior to the response, and the answers were directly written by hands. A total of 348 copies were used for the analysis. As the results of the analysis, first, financial support activities were found to have a positive(+) effect on transitional-based trust, calculative-based trust, and balanced-based trust. On the other hand, non-financial support activities were found to have a positive(+) effect on calculative-based trust, relational-based trust, and balanced-based trust, and there was no significant relationship on transitional-based trust. Second, the dynamic trust had a statistically significant positive(+) effect on inducing the contract renewal. Lastly, in the relationship between the dynamic trust and its impact on business performances, only transitional-based trust, and relational-based trust were found to have a positive(+) effect on the financial performances. In addition, relational-based trust showed a meaningful positive(+) relationship on the non-financial performances, and non-financial performace showed a meaningful positive(+) relationship on the re-contract intention. From the results, it can be concluded that the financial and non-financial activities for a win-win partnership between franchiser and franchisees are essential in not only forming dynamic trust but also boosting business performances as well as maintaining the business relationship. Thus, it suggests that building a win-win partnership can be promoted more efficiently by specifying activities best suitable for a particular relationship. In addition, a specific set of activities could be presented for establishing the level of trust that is formed in situations that vary depending on transaction risks and interdependency arising from having the transactional relationship based on the contract as the franchise industry features. Eventually, it is expected that this study can provide a way to promote the qualitative improvement of the franchise industry by identifying factors essential to establishing a sustainable win-win system and relationships that can improve the business performance of franchisees.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.19
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• pp.224-242
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• 2003

The author believes that the main task of study in international trade usage and practice is the management of transactional risks involved in international sale of goods. They are foreign exchange risks, transportation risks, credit risk, risk of miscommunication, etc. In most cases, these risks are more serious and enormous than those involved in domestic sales. Historically, the merchant adventurers organized the voyage abroad, secured trade finance, and went around the ocean with their own or consigned cargo until around the $mid-19^{th}$ century. They did business faceto-face at the trade fair or the open port where they maintained the local offices, so-called "Trading House"(商館). Thererfore, the transactional risks might have been one-sided either with the seller or the buyer. The bottomry seemed a typical arrangement for risk sharing among the interested parties to the adventure. In this way, such organizational arrangements coped with or bore the transactional risks. With the advent of ocean liner services and wireless communication across the national border in the $19^{th}$ century, the business of merchant adventurers developed toward the clear division of labor; sales by mercantile agents, and ocean transportation by the steam ship companies. The international banking helped the process to be accelerated. Then, bills of lading backed up by the statute made it possible to conduct documentary sales with a foreign partner in different country. Thus, FOB terms including ocean freight and CIF terms emerged gradually as standard trade terms in which transactional risks were allocated through negotiation between the seller and the buyer located in different countries. Both of them did not have to go abroad with their cargo. Instead, documentation in compliance with the terms of the contract(plus an L/C in some cases) must by 'strictly' fulfilled. In other words, the set of contractual documents must be tendered in advance of the arrival of the goods at port of discharge. Trust or reliance is placed on such contractual paper documents. However, the container transport services introduced as international intermodal transport since the late 1960s frequently caused the earlier arrival of the goods at the destination before the presentation of the set of paper documents, which may take 5 to 10% of the amount of transaction. In addition, the size of the container vessel required the speedy transport documentation before sailing from the port of loading. In these circumstances, computerized processing of transport related documents became essential for inexpensive transaction cost and uninterrupted distribution of the goods. Such computerization does not stop at the phase of transportation but extends to cover the whole process of international trade, transforming the documentary sales into less-paper trade and further into paperless trade, i.e., EDI or E-Commerce. Now we face the other side of the coin, which is data security and paperless transfer of legal rights and obligations. Unfortunately, these issues are not effectively covered by a set of contracts only. Obviously, EDI or E-Commerce is based on the common business process and harmonized system of various data codes as well as the standard message formats. This essential feature of E-Commerce needs effective coordination of different divisions of business and tight control over credit arrangements in addition to the standard contract of sales. In a few word, information does not alway invite "trust". Credit flows from people, or close organizational tie-ups. It is our common understanding that, without well-orchestrated organizational arrangements made by leading companies, E-Commerce does not work well for paperless trade. With such arrangements well in place, participating E-business members do not need to seriously care for credit risk. Finally, it is also clear that E-International Commerce must be linked up with a set of government EDIs such as NACCS, Port EDI, JETRAS, etc, in Japan. Therefore, there is still a long way before us to go for E-Commerce in practice, not on the top of information manager's desk.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.7
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• pp.1-8
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• 2017

As the IT environment becomes more sophisticated, various threats and their associated serious risks are increasing. Threats such as DDoS attacks, malware, worms, and APT attacks can be a very serious risk to enterprises and must be efficiently managed in a timely manner. Therefore, the government has designated the important system as the main information communication infrastructure in consideration of the impact on the national security and the economic society according to the 'Information and Communication Infrastructure Protection Act', which, in particular, protects the main information communication infrastructure from cyber infringement. In addition, it conducts management supervision such as analysis and evaluation of vulnerability, establishment of protection measures, implementation of protection measures, and distribution of technology guides. Even now, security consulting is proceeding on the basis of 'Guidance for Evaluation of Technical Vulnerability Analysis of Major IT Infrastructure Facilities'. There are neglected inspection items in the applied items, and the vulnerability of APT attack, malicious code, and risk are present issues that are neglected. In order to eliminate the actual security risk, the security manager has arranged the inspection and ordered the special company. In other words, it is difficult to check against current hacking or vulnerability through current system vulnerability checking method. In this paper, we propose an efficient method for extracting diagnostic data regarding the necessity of upgrading system vulnerability check, a check item that does not reflect recent trends, a technical check case for latest intrusion technique, a related study on security threats and requirements. Based on this, we investigate the security vulnerability management system and vulnerability list of domestic and foreign countries, propose effective security vulnerability management system, and propose further study to improve overseas vulnerability diagnosis items so that they can be related to domestic vulnerability items.

• Proceedings of the Korean Information Science Society Conference
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• 2007.06a
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• pp.17-18
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• 2007

데이터베이스 튜닝은 일반적으로 데이터베이스 어플리케이션을 "좀 더 빠르게" 실행하게 하는 일련의 활동을 뜻한다[1]. 데이터베이스 관리자가 튜닝에 필요한 주먹구구식 룰(Rule of thumb)들을 모두 파악 하고 상황에 맞추어 적용하는 것은 비싼 비용과 오랜 시간을 요구한다. 그렇게 때문에 서로 다른 어플 리케이션들이 맞물려 있는 복잡한 서비스는 필수적으로 자동화된 데이터베이스 성능 관리와 튜닝을 필 요로 한다. 본 논문에서는 이를 해결하기 위하여 지식 도매인(Knowledge Domain)을 기초로 한 자동화 된 데이터베이스 튜닝 원칙(Tuning Principle)을 제시하는 시스템을 제안한다. 각각의 데이터베이스 튜닝 이론들은 지식 도매인의 지식으로 활용되며, 성능에 영향을 미치는 요소들을 개체(Object)와 콘셉트 (Concept)로 구성하고 추론 시스템을 통해 튜닝 원칙을 추론하여 쉽고 빠르게 현재 상황에 맞는 튜닝 방법론을 적용시킬 수 있다. 자동화된 데이터베이스 튜닝에 대해 여러 분야에 걸쳐 학문적인 연구가 이루어지고 있다. 그 예로써 Microsoft의 AutoAdmin Project[2], Oracle의 SQL 튜닝 아키텍처[3], COLT[4], DBA Companion[5], SQUASH[6] 등을 들 수 있다. 이러한 최적화 기법들을 각각의 기능적인 방법론에 따라 다시 분류하면 크게 Design Tuning, Logical Structure Tuning, Sentence Tuning, SQL Tuning, Server Tuning, System/Network Tuning으로 나누어 볼 수 있다. 이 중 SQL Tuning 등은 수치적으로 결정되어 이미 존재하는 정보를 이용하기 때문에 구조화된 모델로 표현하기 쉽고 사용자의 다양한 요구에 의해 변화하는 조건들을 수용하기 쉽기 때문에 이에 중점을 두고 성능 문제를 해결하는 데 초점을 맞추었다. 데이터베이스 시스템의 일련의 처리 과정에 따라 DBMS를 구성하는 개체들과 속성, 그리고 연관 관계들이 모델링된다. 데이터베이스 시스템은 Application / Query / DBMS Level의 3개 레벨에 따라 구조화되며, 본 논문에서는 개체, 속성, 연관 관계 및 데이터베이스 튜닝에 사용되는 Rule of thumb들을 분석하여 튜닝 원칙을 포함한 지식의 형태로 변환하였다. 튜닝 원칙은 데이터베이스 시스템에서 발생하는 문제를 해결할 수 있게 하는 일종의 황금률로써 지식 도매인의 바탕이 되는 사실(Fact)과 룰(Rule) 로써 표현된다. Fact는 모델링된 시스템을 지식 도매인의 하나의 지식 개체로 표현하는 방식이고, Rule 은 Fact에 기반을 두어 튜닝 원칙을 지식의 형태로 표현한 것이다. Rule은 다시 시스템 모델링을 통해 사전에 정의되는 Rule와 튜닝 원칙을 추론하기 위해 사용되는 Rule의 두 가지 타업으로 나뉘며, 대부분의 Rule은 입력되는 값에 따라 다른 솔루션을 취하게 하는 분기의 역할을 수행한다. 사용자는 제한적으로 자동 생성된 Fact와 Rule을 통해 튜닝 원칙을 추론하여 데이터베이스 시스템에 적용할 수 있으며, 요구나 필요에 따라 GUI를 통해 상황에 맞는 Fact와 Rule을 수동으로 추가할 수도 었다. 지식 도매인에서 튜닝 원칙을 추론하기 위해 JAVA 기반의 추론 엔진인 JESS가 사용된다. JESS는 스크립트 언어를 사용하는 전문가 시스템[7]으로 선언적 룰(Declarative Rule)을 이용하여 지식을 표현 하고 추론을 수행하는 추론 엔진의 한 종류이다. JESS의 지식 표현 방식은 튜닝 원칙을 쉽게 표현하고 수용할 수 있는 구조를 가지고 있으며 작은 크기와 빠른 추론 성능을 가지기 때문에 실시간으로 처리 되는 어플리케이션 튜닝에 적합하다. 지식 기반 모률의 가장 큰 역할은 주어진 데이터베이스 시스템의 모델을 통하여 필요한 새로운 지식을 생성하고 저장하는 것이다. 이를 위하여 Fact와 Rule은 지식 표현 의 기본 단위인 트리플(Triple)의 형태로 표현된다, 트리플은 Subject, Property, Object의 3가지 요소로 구성되며, 대부분의 Fact와 Rule들은 트리플의 기본 형태 또는 트리플의 조합으로 이루어진 C Condition과 Action의 두 부분의 결합으로 구성된다. 이와 같이 데이터베이스 시스템 모델의 개체들과 속성, 그리고 연관 관계들을 표현함으로써 지식들이 추론 엔진의 Fact와 Rule로 기능할 수 있다. 본 시스템에서는 이를 구현 및 실험하기 위하여 웹 기반 서버-클라이언트 시스템을 가정하였다. 서버는 Process Controller, Parser, Rule Database, JESS Reasoning Engine으로 구성 되 어 있으며, 클라이 언트는 Rule Manager Interface와 Result Viewer로 구성되어 었다. 실험을 통해 얻어지는 튜닝 원칙 적용 전후의 실행 시간 측정 등 데이터베이스 시스템 성능 척도를 비교함으로써 시스템의 효용을 판단하였으며, 실험 결과 적용 전에 비하여 튜닝 원칙을 적용한 경우 최대 1초 미만의 전처리에 따른 부하 시간 추가와 최소 약 1.5배에서 최대 약 3배까지의 처리 시간 개선을 확인하였다. 본 논문에서 제안하는 시스템은 튜닝 원칙을 자동으로 생성하고 지식 형태로 변형시킴으로써 새로운 튜닝 원칙을 파생하여 제공하고, 성능에 영향을 미치는 요소와 함께 직접 Fact과 Rule을 추가함으로써 커스터마이정된 튜닝을 수행할 수 있게 하는 장점을 가진다. 추후 쿼리 자체의 튜닝 및 인텍스 최적화 등의 프로세스 자동화와 Rule을 효율적으로 정의하고 추가하는 방법 그리고 시스템 모델링을 효과적으로 구성하는 방법에 대한 연구를 통해 본 연구를 더욱 개선시킬 수 있을 것이다.

• Journal of Global Scholars of Marketing Science
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• v.17 no.4
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• pp.1-22
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• 2007

Customer satisfaction is important in an increasingly competitive and global marketplace. This implies that customer service is a critical factor for many organizations. In service encounter context, customer satisfaction is affected by employees' attitudes and behaviors. Accordingly, service firms have been focusing on selecting high quality of service employees, which resulted the ability to identify and select quality service- or customer- oriented employees to become critical for an organization's success. It was suggested that customer service orientation links to performance and subsequent organizational revenue. Moreover, it was found that service encounter failures were among the major reasons for customers' service switch. Therefore, the selection of customer service oriented employees is a key factor in establishing customer service - a potential source of sustained competitive advantage. However, the measurement of employee service orientation is more confusing than that of definitive answers. The difficulty of measuring service orientation is attributed to the use of broad versus narrow measures of personality. Advocates for the broad perspective prefer using basic personality constructs, such as the Big Five personality traits. On the contrary, the latter prefer a construct-oriented approach of personality research that provides a better measure of job performance because it requires the specification of the relationship of the personality traits with multiple dimensions of job performance. The customer service orientation was defined as "a set of basic individual predispositions and an inclination to provide service, to be courteous and to be helpful in dealing with customers and associates." Similarly, it is a fact that the Big five personality traits are predictors of customer orientation, and employee's self- and supervisor performance. They propose that basic personality traits may be too far removed from focal service behaviors to be able to predict specific service behaviors (customer orientation) and service worker performance. Also, customer orientation is defined as "an employee's tendency or predisposition to meet customer needs in an on-the-job context." This means that people who have job-relevant personality traits such as concern, empathy, and conscientiousness will be more adept at customer service than people who do not possess these traits. However, little attention has been given to the exploration of the service orientation of customer-contact employees who play a key role in creating satisfactory service encounters in the hospitality industry except for Kim, McCahon, & Miller (2003)'s study, especially in family restaurants context. Thus, the purposes of this study are to examine and validate the customer service orientation of customer-contact employees using the instrument developed by Donavan (1999) in Korean family restaurants, because the scale was developed to measure the personality traits related job behaviors. And this study explores the relationships between customer service orientation, job satisfaction, organizational commitment, and self service performance using structural equation modeling (SEM). And this study explores the relationships between customer service orientation, job satisfaction, organizational commitment, and self service performance using structural equation modeling (SEM). For these purposes the author developed several hypotheses as follows: H1: Employee's service orientation is associated with service performance. H2: Employee's service orientation is positively associated with job satisfaction. H3: Employee's service orientation is positively associated with organizational commitment. H4: Service performance is positively associated with job satisfaction. H5: Service performance is positively associated with organizational commitment. H6: Job satisfaction is negatively associated with organizational commitment. The data were collected from 278 employees in 5 deluxe hotels located in Pusan, Korea. The researcher contacted the manager of the restaurants, and managers consented to administer surveys to their employees. The survey was executed during one month period in the October of 2007. The data were analyzed with structural equation modeling with LISREL 8.7 W. The result of the overall model analysis appeared as follows: $X^2$=122.638 (p = 0.00), df=59, GFI=.936, AGFI=.901, NFI=.948, CFI=.971, RMSEA=.0625. Since the result of the overall model analysis demonstrated a good fit, we could further analyze our data. The findings can be summarized as follows: First, the greater the employee service orientation, the greater the service performance. Second, the greater the employee service orientation, the greater the job satisfaction. Third, the greater the employee service orientation, the greater the organizational commitment. Fourth, the greater the service performance, the greater the job satisfaction. Fifth, the greater the service performance, the greater the organizational commitment. Finally, the greater the job satisfaction, the greater the organizational commitment. Seventh, the greater the customer satisfaction, the greater the customer loyalty.

• Journal of dental hygiene science
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• v.16 no.4
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• pp.293-301
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• 2016

This study aimed to design and operate a complementary integrated health management program based on the connection between the hypertension and diabetes management programs and the oral health programs at a public health center. It also proposed to suggest the phased evaluation indicators. In this study, 48 adults registered in the hypertension and diabetes management program were selected from the Gangneung public health center. The clinic-specific programs were led by dental hygienists and operated for visitors twice every two weeks. The programs were designed based on the logical model, and indicators for evaluating the structure, process, and outcome were presented and applied to the input, process, output, and outcome. The evaluation indices consisted of quantitative and qualitative indicators, and the planning and operation, goal achievement, and effect of each program were assessed. The process evaluations were assessed by the appropriateness of the managers and the operating fidelity of the programs. Indicators for evaluating the outcomes were gingival bleeding, oral health knowledge, oral health awareness, and the satisfaction of the participant and the manager. The clinic-specific programs resulted in positive changes in the evaluated outcomes. The integrated health management of visitors to the hypertension and diabetes management program is important as the general and oral health has common risk factors. Furthermore, long-term operation and continuous monitoring of oral health programs are necessary to evaluate the common factors in chronic disease management.

• Journal of the Korean Society of Food Science and Nutrition
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• v.36 no.4
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• pp.488-498
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• 2007

The purposes of this study were to: a) provide evidences concerning the effects of emotional leadership b) examine the impacts of emotional leadership on employee-related variables, 'job satisfaction', 'organizational commitment', 'organizational performance' and 'turnover intention', and c) identify a conceptual framework underlying emotional leadership. A survey was conducted from August 23 to November 3, 2005 to collect data from mid-level managers in food service company headquarters (N=219). Statistical analyses were completed using SPSS Win (12.0) for descriptive, reliability, factor and correlation analyses and AMOS (5.0) for confirmatory factor analysis and structural equation modeling. The main results of this study were as follows. First, the managers gave the highest point to their leaders in the emotional leadership competence 'organizational awareness : reading the currents, decision networks, and politics at the organizational level' and gave the lowest point in the emotional leadership competence 'influence: wielding effective tactics for persuasion'. Second, the means of job satisfaction was above the midpoint (3 points). Employees' job satisfaction with 'coworkers' was relatively high. However, the extents of satisfaction with 'payroll' 'promotion', and 'work environment' were relatively low. Third, the organizational commitment was above the midpoint (3 points). In the organizational commitment, 'loyalty' factor was higher than 'commitment' factor. Fourth, the means of organizational performance was above the midpoint. The highest organizational performance variable was 'internal efficiency; trying to reduce cost' and the lowest organizational performance variable was 'internal fairness ; equitable treatment and all are treated with respect with no regard to status and grade'. Fifth, most respondents intended on 'thinking of quitting ; towards turnover process'. Sixth, the test of hypothesis using structural equation modeling found that emotional leadership produced p[Isitive effects on job attitude and job performance. Emotional leadership enhanced job satisfaction and organizational commitment, and in turn, employees' attitude positive effects on organizational performance; emotional leadership also had a direct impact on organizational performance

• The Korean Journal of Financial Management
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• v.24 no.2
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• pp.147-181
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• 2007

Our article investigates the risk implication of ownership structure in life insurance companies. We set up a model to identify the priority structure of policyholder's and shareholder's cashflow claims, and to derive its implications. Current literature on this issue has focused on the agency paradigm or the risk-sharing efficiency. Fama and Jensen(1983a, 1983b) and Mayers and Smith(1981, 1986, 1988, 1990, 1994) argue that the survival of both the corporate and the mutual form of organization is due in part to the relative efficiencies in controlling agency problems. With regard to insurance business, agency problems arise because of the three functions inherent in the organizations:manager, risk-bearer(owner), and policyholder. Stock insurers are characterized by the potentially complete separation of all three functions while mutual insurers merger the policyholder with the ownership function. Doherty and Dionne(1993) and Doherty(1991) concentrate their analysis on differences in the efficiency of risk sharing between participating and non-participating policies. They argue that when the undiversifiable risk has higher portion in business risk, combining policy and equity claims into a single package is a more efficient risk-sharing contract than a simple prepaid risk-transfer. Among various methods for assembling the policy/equity package, Doherty and Dionne(1993) and Doherty(1991) suggest that policy/equity package offered by the mutual is the most efficient risk-sharing arrangement. There has been a controversy on the property of participating policies sold by life insurance corporations in Korea. Some scholars argue that participating policyholders of Korean life insurance companies have shared the cashflow risk with shareholders. They emphasize that insurance firms have used dividend reserves to supplement for equity deficits. Thus, they argue that the economic entities of Korean life insurance companies are mutual companies though their legal entities are corporations. Our article explicitly sets up each stakeholder's cashflow claim in stock and mutual insurers, and thus identify risk differences in shareholder and policyholder. Using our model, we could derive direct implications on the controversy. Our model shows that life insurance companies would sell participating policies since policyholders would have the incentive to share the risk inherent in their primary claims with equityholders. And there exists a fundamental difference in shareholder's risk and equityholder's.