• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.31-40
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• 2020

This study investigates whether other comprehensive income (OCI) reported in the statement of comprehensive income (one of the main financial statements after the adoption of K-IFRS) predicts a firm's future performance. Using the quarterly data of Korean listed companies, we examine the association between OCI estimates and future earnings. First of all, we find that OCI is positively associated with earnings in both 1- and 2-quarter ahead, supporting the predictive value of OCI. When we break down OCI into its individual components, our results suggest that the net unrealized gains/losses on available-for-sale (AFS) investment securities are positively associated with future earnings, while the other components (e.g., net unrealized gains/losses on valuation of cash flow hedge derivatives) present insignificant results. In addition, we investigate whether the reliability in OCI estimates enhances the predictive value of OCI to predict future performance. We find that the predictive ability of OCI, in particular the net unrealized gains/losses on available-for-sale (AFS) investment securities, becomes more pronounced when firms are audited by the Big 4 audit firms. Overall, our study suggests that information content embedded in OCI can provide decision-useful information that is helpful for the prediction of future firm performance.

• Journal of Korean Society of Rural Planning
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• v.15 no.4
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• pp.109-124
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• 2009

The purpose of this thesis is to analyze and evaluate issues and performance of development projects of Gurye Banggwang villages' key projects, especially directly or indirectly related to resident income augmentation. The agricultural products processing factory, the valley resting, the urban and rural exchange center, and the village festival have been closely selected as directly or indirectly related to the resident income. Analysis of survey of resident and two agriculture unions' members led the performance and problem of Banggwang villages' development projects. The income project has the difficulties of recruiting members, lack of professionalism of people in production and marketing of processed products, and conflict between members etc. For this reason, income projects being adopted as the comprehensive rural village development project is often negative. Compare to the other cases, Banggwang village has more reflection of the income project, and has lot of interest by policy makers whether it be pursued successfully. It is too early to evaluate a performance properly because it is the beginning of income projects and the experience are not yet being sufficient. However, the performance is appearing gradually from various sides. For example, dividend of business profits, employment opportunities and sales of agricultural products are developing increasingly. Income projects have strengthens the residents' participation and interest in comprehensive rural village development project and with securing stable funding it will help to maintain the facilities.

• Journal of Korean Society of Rural Planning
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• v.19 no.1
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• pp.55-70
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• 2013

Since 2004, Ministry for Food, Agriculture, Forestry and Fisheries(MIFAFF) has been carrying out comprehensive rural village development project as the core one of Rural Area Development Schemes in Korea. Up to now, 56 projects had been completed after having with 5-year plan implementation period, on which it is possible to try post-project evaluation works. This study aims to propose a rational income-generation works model of comprehensive rural village development project, based on fulfillment checking results of their statutory stepwise working procedures specified in the project guidelines and their interim/post project performance analysis results in 56 project areas above mentioned. In comprehensive rural village development project, income-generation works generally have both quantitative and qualitative effects to rural communities; the former is focussed on income increasement of villagers, while the latter on community revitalization through job creation and spill-over effects of other linked community activities. So, the research works of this study focussed on these two comprehensive effects above mentioned.

• Management & Information Systems Review
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• v.38 no.2
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• pp.67-81
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• 2019

In accordance with K-IFRS 1109, financial instruments are classified to amortized cost (AC), fair value through other comprehensive income (FVOCI) and fair value through profit or loss (FVPL). And disposal gains are prohibited to be recirculated for net income when FVOCI financial instruments would be sold in the future, so-called recirculation prohibition. This research investigates whether accumulated other comprehensive income of available-for sale financial assets(AFS) under K-IFRS 1039, could affect reclassified amounts to the FVPL securities from the AFS securities. Also, this study investigates the effects of the reported income on the reclassified FVPL, because CEOs are likely to try earnings management when net income is predicted to be less than target or is low, comparing other firms. As a result of empirical analysis, first, I find that accumulated other comprehensive income of the AFS has a positive impact on the reclassified FVPL. Second, level of reporting income has no significant impact on the reclassified FVPL. Third, interaction effects are significantly positive on the firms which have more other comprehensive income and less level of reported income. Fourth, the effects of the bank and securities are more distinct than those of the manufactures. This study is the first research to investigate earnings management through AFS at the timing of the first adoption of K-IFRS 1109. Empirical results of this study provide evidence of earnings management on the reclassification of FVPL which gives meaningful implications to regulators, academic researchers and auditors.

• Korean Journal of Social Welfare
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• v.54
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• pp.295-319
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• 2003

The study starts from the critical thought on why most of female-headed single-parent families are under poverty regardless of their hard working. The study is to explore the lives of low-income single-parent families as working poor and to develop comprehensive policies for them out of poverty and other social vulnerability, using the concept of social exclusion which has been broadly introduced in the field of social science. Specifically, the study aims to analyse the process of social exclusion of low-income single-parent households, by comparing the differential lives in the economic, social, political aspects among male-headed dual-parent household, female-headed single-parent household, and poor female-headed lone-parent household who is under the public poverty line. The study was based on the secondary data analysis. A total of 3182 samples(the first 2508, the second 235, and the third 439) were included. Using SAS 6.12, frequency, chi-square, means, and ANOVA were utilized for the statistical analysis. Results show that single mothers, on the whole, are vulnerable population in terms of employment, housing stability and income. Also, low-income households of single mothers are more negatively affected by the IMF economic crisis and carry more pessimism on their future. In comparison with male-headed households, single mothers have fewer support from social insurance as well as family resources and higher burdens of additional caring need for the old, the disabled, and the chronically ill. These findings identify the reality in which female-headed households with dependent children are exposed to the overall social vulnerability and thus are easily trapped into the social disadvantaged. finally, the study suggests the development of comprehensive policies and counter-measurements for low-income female-headed families to be the primary member in our society.

• Journal of Ecology and Environment
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• v.42 no.4
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• pp.139-149
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• 2018

Background: Ethiopia is among the poorest countries where land degradation caused livelihood problem to its inhabitants. The livelihood of rural communities in Ethiopia is seriously threatened by land degradation. Land is the major natural resource that economic, social, infrastructure, and other human activities are undertaken on. Thus, land resources play an important role in shaping rural livelihoods, and lack of sustainable land management practices leads to land degradation. Thus, this study aimed to analyze interlink between land degradation and livelihood of rural communities in Chilga district, Northwest Ethiopia. It also addresses the factors which influence income diversification for livelihood of households in the study area. Result: The result depicts that the major causes of land degradation are both natural and anthropogenic. Land degradation and livelihood are negatively interlinked with each other. The livelihood of the majority of the population in the study area is dependent on subsistence agriculture both farming and animal husbandry with low diversification. The survey result showed that more than half (69%) of the sample households have farm size of less than 2 ha, nearly one third (31%) have 2.0-2.5 ha, and insignificant number of farmers have more than 2.5 ha. More than 80% of the respondents pointed out that land degradation has impacts both on crop yield and livestock production. Most of the explanatory variables such as gender, age, education level, farmland size, and family size have statistical significant influence (at P < .01 and P < .05 levels) for income diversification of households, while marital status on the other hand is not statistically significant though it has positive relation with income diversification in this study. Conclusions: Our results suggest awareness should be created in the community about the livelihood diversification mechanisms which enabled them to engage in different income-generating activities and comprehensive watershed management should be implemented.

• 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.

• Korean Management Science Review
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• v.32 no.3
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• pp.13-28
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• 2015

Using the most recent dataset of Korea and U.S. household finance, this study analyzed demand and adequacy of private pensions for pre-retirees. For this purpose, 2013 Korean Retirement and Income Study (KReIS) of national pension research institute in Korea and 2013 SCF (Survey of Consumer Finances) of FRB in U.S. were used. For comprehensive comparisons of the two countries, this study classified the private pension into sub-categories such as personal pension, corporate pension, and retirement benefits, and used three different criteria including ownership, accumulated present value of each pension, and income replacement ratio of each pension. After controlling for other factors, educational level of householder and household income were critical determinants of size and adequacy of private pension in both countries. Different from Korean households, householders' gender, marital status, and health status had an important effect on the private pension size and adequacy in the U.S. In addition, home ownership significantly increased only private pension adequacy in Korea, and also increased ownership rate, size, and adequacy of private pension in the U.S. Results of this study provide useful implications for future pension system and policy in Korea.

• 지역과문화
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• v.7 no.2
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• pp.31-55
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• 2020

As a case study, this paper aims to analyze the outcome of culture projects that are, like the building project of culture city, comprehensively funded by integrating individual projects with various purposes. Considering that there is no assessment indicators on the performance of culture city building project, it tries to propose and analyze indicators for evaluating the outcome, influence, and effect of the project, by taking into account social, cultural, and economical effect. The analysis result demonstrates the building project of specialized region in culture has bigger income effect than the construction project of cultural facilities or cultural voucher program. Because income growth leads to consumption growth, a project type with bigger income effect has more influence on industrial growth. In other words, the study shows that comprehensive funding projects, by integrating programs related to cultural citizens, cultural programs, and cultural space, is more effective for sustainable cultural development of a region. And it means the way of government assistance for cultural projects does need to change from individual project-based to comprehensive funding project-based.

• Health Policy and Management
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• v.18 no.4
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• pp.1-22
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• 2008

Burden of disease analysis provides a unique perspective on health by integrating fatal and non-fatal outcomes, yet allows the outcome of two classes to be examined separately. Although many studies have shown the inequality in health outcomes across socioeconomic status (SES), an analysis and comparison of Disability Adjusted Life Year (DALY) between different socioeconomic groups has been rare. This paper calculates the DALY and analyzes the distribution of DALYs for different SES. This study draws from 3,278 cases from the survey on "The Livelihood and Welfare Needs of the Elderly (2004)". It first provides a comprehensive assessment of the burden of 10 chronic diseases of the elderly based on DALY. Then this paper analyzes inequalities in the burden of disease by the levels of SES such as education, income, family size, occupation, and subjective economic conditions. For the elderly, the burden of disease is the highest for hypertension, arthritis and cancer. DALY rate per 1,000 people for the most socio-economically disadvantaged group is expressed as a multiple of the standardized rate for the least disadvantaged group (Rate Ratios). Family size is strongly related to. the difference in the burden of disease between SES groups, and the elderly Who live alone have higher DALY rate than those who live with their family. Other significant variables related to SES groups include subjective economic conditions, occupation, elderly income, and household income.