• Title/Summary/Keyword: Payment Measurement

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Evaluations for Fraud in L/C Transactions, and Counter-Measures

  • Lee, Jae-Sung
    • Journal of Korea Trade
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    • v.24 no.7
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    • pp.73-92
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    • 2020
  • Purpose - The letter of credit has been playing a major role to diminish overall risks which exist among concerned parties even though there are differences such as language, culture, law, and distance. This paper reviews essence of the letter of credit and its transaction principles, as well as overall practical questions based on the L/C transaction principle. It also investigates the risk of fraud occurrences in L/C transactions and the importance of fraud prevention and preventive measures in international L/C transactions, including the Fraud Rule, which is a major topic to consider in business transactions. Design/methodology - It is considered that an importing country's concerned parties and an exporting country's concerned parties face different situations. This study employs the existing framework to identify liability, responsibility, and obligation for all concerned parties across countries. Using a quite direct measurement of principles in the letter of credit, such as principle of independence, principle of abstraction, and principle of strictness and coincidence, we studied these differences. Findings - Our main findings can be summarized as follow. The paper enhances the efficiency of the L/C payment method to provide fraud generated from L/C transactions, presentation of a theoretical framework about fraud and fraud prevention, which international trading companies should acknowledge in a material way based on fraud risk resulting from taking advantage of L/C transaction principles. Originality/value - Existing studies focus on fraud accidents in L/C transactions by taking bad advantage of the characteristics of the letter of credit without suggesting risks of fraud. This paper attempts to evaluate and provide preventive measures as a solution for fraud and risky international business in a letter of credit transaction. This area of trade studies is underexplored, both empirically and theoretically, although the issue has long been important to Korean and world community foreign trade.

Estimation of the Economic Value of Marine Leisure Ship using Contingent Valuation Method (조건부가치측정법을 활용한 해양레저선박의 지불의사 금액 추정)

  • Jung-Suk Choi;Hwa-Young Kim;Kyoung-Hoon Choi
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2022.06a
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    • pp.209-210
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    • 2022
  • For the growth of the marine leisure industry, it is necessary to estimate economic value to review appropriate profitability in advance for the opening of new routes for marine leisure ships. This study aims to analyze the willingness to pay for new marine leisure ships for users of Gyeonggi sea and estimate the economic value. To this end, the amount of willingness to pay was estimated using the conditional value measurement method, and significant factors affecting the payment of usage fees were analyzed. As a result of the study, the average willingness to pay was estimated at KRW 25,510, and it was found that the factors such as "island visit experience" and "satisfaction with means of transportation" had a significant effect on the willingness to pay.

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The Impact of Perceived Risks Upon Consumer Trust and Purchase Intentions (인지된 위험의 유형이 소비자 신뢰 및 온라인 구매의도에 미치는 영향)

  • Hong, Il-Yoo B.;Kim, Woo-Sung;Lim, Byung-Ha
    • Asia pacific journal of information systems
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    • v.21 no.4
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    • pp.1-25
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    • 2011
  • Internet-based commerce has undergone an explosive growth over the past decade as consumers today find it more economical as well as more convenient to shop online. Nevertheless, the shift in the common mode of shopping from offline to online commerce has caused consumers to have worries over such issues as private information leakage, online fraud, discrepancy in product quality and grade, unsuccessful delivery, and so forth, Numerous studies have been undertaken to examine the role of perceived risk as a chief barrier to online purchases and to understand the theoretical relationships among perceived risk, trust and purchase intentions, However, most studies focus on empirically investigating the effects of trust on perceived risk, with little attention devoted to the effects of perceived risk on trust, While the influence trust has on perceived risk is worth studying, the influence in the opposite direction is equally important, enabling insights into the potential of perceived risk as a prohibitor of trust, According to Pavlou (2003), the primary source of the perceived risk is either the technological uncertainty of the Internet environment or the behavioral uncertainty of the transaction partner. Due to such types of uncertainty, an increase in the worries over the perceived risk may negatively affect trust, For example, if a consumer who sends sensitive transaction data over Internet is concerned that his or her private information may leak out because of the lack of security, trust may decrease (Olivero and Lunt, 2004), By the same token, if the consumer feels that the online merchant has the potential to profit by behaving in an opportunistic manner taking advantage of the remote, impersonal nature of online commerce, then it is unlikely that the merchant will be trusted, That is, the more the probable danger is likely to occur, the less trust and the greater need to control the transaction (Olivero and Lunt, 2004), In summary, a review of the related studies indicates that while some researchers looked at the influence of overall perceived risk on trust level, not much attention has been given to the effects of different types of perceived risk, In this context the present research aims at addressing the need to study how trust is affected by different types of perceived risk, We classified perceived risk into six different types based on the literature, and empirically analyzed the impact of each type of perceived risk upon consumer trust in an online merchant and further its impact upon purchase intentions. To meet our research objectives, we developed a conceptual model depicting the nomological structure of the relationships among our research variables, and also formulated a total of seven hypotheses. The model and hypotheses were tested using an empirical analysis based on a questionnaire survey of 206 college students. The reliability was evaluated via Cronbach's alphas, the minimum of which was found to be 0.73, and therefore the questionnaire items are all deemed reliable. In addition, the results of confirmatory factor analysis (CFA) designed to check the validity of the measurement model indicate that the convergent, discriminate, and nomological validities of the model are all acceptable. The structural equation modeling analysis to test the hypotheses yielded the following results. Of the first six hypotheses (H1-1 through H1-6) designed to examine the relationships between each risk type and trust, three hypotheses including H1-1 (performance risk ${\rightarrow}$ trust), H1-2 (psychological risk ${\rightarrow}$ trust) and H1-5 (online payment risk ${\rightarrow}$ trust) were supported with path coefficients of -0.30, -0.27 and -0.16 respectively. Finally, H2 (trust ${\rightarrow}$ purchase intentions) was supported with relatively high path coefficients of 0.73. Results of the empirical study offer the following findings and implications. First. it was found that it was performance risk, psychological risk and online payment risk that have a statistically significant influence upon consumer trust in an online merchant. It implies that a consumer may find an online merchant untrustworthy if either the product quality or the product grade does not match his or her expectations. For that reason, online merchants including digital storefronts and e-marketplaces are suggested to pursue a strategy focusing on identifying the target customers and offering products that they feel best meet performance and psychological needs of those customers. Thus, they should do their best to make it widely known that their products are of as good quality and grade as those purchased from offline department stores. In addition, it may be inferred that today's online consumers remain concerned about the security of the online commerce environment due to the repeated occurrences of hacking or private information leakage. Online merchants should take steps to remove potential vulnerabilities and provide online notices to emphasize that their website is secure. Second, consumer's overall trust was found to have a statistically significant influence on purchase intentions. This finding, which is consistent with the results of numerous prior studies, suggests that increased sales will become a reality only with enhanced consumer trust.

A study on Hospital based Home Health Care Service and the Level of Client Satisfaction (일 대학 병원의 가정간호시범사업 서비스 내용 및 만족도에 대한 조사연구)

  • Kim Chung Nam;Kwan Young Sook;Koh Hyo Jung;Kim Myung Ae;Park Chung Ja;Shin Yeong Hee;Lee Byung Sook;Lee Kyung Hee;Seo Hanng Suk
    • Journal of Korean Public Health Nursing
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    • v.14 no.2
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    • pp.246-259
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    • 2000
  • The purpose of this study was to assess the provided home health care services and to evaluate the patient's satisfaction level of received home health care services. Well trained two home health care nurses interviewed with 138 respondents who received home health care by Keimyung University Hospital from January 1st to August 31st 1999. The results were summarized as follows : 1) Among 138 respondents, $55.8\%$ were mail and $44.2\%$ were female and $70.3\%$ of them were over sixty years old. Respondents main family care givers were spouse$(53.6\%)$, daughters and sons$(36.2\%)$ and parents$(7.2\%)$. 2) $60.2\%$ of cancer patients received home health care services, $23.3\%$ of cerebral­cardiovascular patients, $7.5\%$ of endocrine disorder patients, $2.3\%$ of those who have indwelling foley catheter patients, $1.5\%$ of those who have respiratory problems and others$(5.2\%)$. 3) $88.1\%$ of respondents were satisfied with the number of home visits they received. $50.5\%$ of respondents' were received 1 to 3 times of home visits by home health care nurse per month. $48.6\%$ of respondents answered they were introduced by attending doctors or nurses to home health care services. $55.8\%$ of respondents answered registration to home health care services was simple and easy. $97.4\%$ of respondents answered home health care payment system was adequate. $64.9\%$ of respondents answered the cost of home health care per visit was adequate and comfortable. 4) Health education, counselling, physical assessment was provided to most of the patients. Those who suffered with cerebral-cardiovascular disease was needed hands on direct care most of all. The least home health care service provided was medication. 5) The satisfaction measurement tool was composed with 13 items and 3 score scale. The mean score of satisfaction on provided home health care services was 2.67 out of 3. Among 13 items. 'home health care service was kind enough' was highest(2.84). 'nurse use precise word to understand and communicate'. 'nurse gave home visiting notice ahead of time and kept the home visiting promise on time' was 2.83. 'whenever I need home health care nurse I can give a call and meet the nurse' was lowest 2.41. Special Home Health care programs such as comprehensive hospice care programs for elders over sixty years old should be organized. Adequate and standardized home health care payment system should be developed as soon as possible. In korean family situation. when family members are getting sick and stay at home. family members were taking care of the patients. special program such as counselling family members are needed.

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Development and Application of Index Framework to Assess Cost-effectiveness of Payments for Forest Ecosystem Services in Korea (산림생태계서비스지불제의 비용효과성 평가를 위한 지수체계 개발 및 적용)

  • Ahn, SoEun;Rho, Paikho
    • Journal of Korean Society of Forest Science
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    • v.105 no.3
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    • pp.377-390
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    • 2016
  • The aim of this study is 1) to design an auction-type and area-based payments for ecosystem services (PES) in application to private forest in Korea, 2) to develop the framework of index to implement the PES program proposed, and 3) to examine the feasibility and validity of the index framework by conducting a case study. The index framework measures quantities of ecosystem services currently supplied, improvement of ecosystem services anticipated from the proposed management activities, and real implementing costs of the program. The total scores from the case study vary from 301 to 501 for site 1, Goesan-gun and 273 to 460 for site 2, Pyeongchang-gun, respectively, indicating that total index score - measurement of cost-effectiveness - can be varied by the levels of management and real cost even if the scores from ecosystem service indicator group are the same. The index framework which can locate a cost-effective program has significant policy implication given the budget constraints in biodiversity/ecosystem services policy arena.

The Effect of Differences between Job Expectations and Job Satisfaction on Overall Employee Satisfaction -Focused on University Staff- (직무 기대와 직무 만족의 차이가 전반적인 직원 만족에 미치는 영향 -대학 행정직원을 중심으로-)

  • Yoo, Hyunggyu;Lee, Min Jung
    • The Journal of the Korea Contents Association
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    • v.20 no.9
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    • pp.308-317
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    • 2020
  • The purpose of this study is to investigate the effect of differences between job expectations and satisfaction on overall employee satisfaction. A survey was conducted on administrative staff at S University in Seoul for 8 days from December 17, 2018 to December 24, 2018. First, the difference between job expectation and job satisfaction, a significant negative difference occurred for all 15 measurement variables. Second, the factors of work cost and personnel system were found to have a significant negative effect on employee satisfaction. If the expected discrepancy between work cost and personnel system increases by 1, employee satisfaction decreases by 0.35 and 0.24, respectively. Third, among the sub-categories of work cost and personnel system, department allocation and division of duties, proper compensation payment, rationality of compensation decision process, and good welfare system were found to have a significant correlation. By analyzing the significant correlation between expected discrepancies and employee satisfaction, focusing on items that can increase employee satisfaction while lowering the financial burden, narrowing the expected discrepancy of staff increases employee satisfaction and improves the quality of education services.

Evaluation for Applying Low-Cost Mobile Laser System to Earth Volume Calculation at Construction Site (건설현장에서의 토공량산출을 위한 저가형 모바일 레이저시스템의 적용성 평가)

  • Kim, In Seop
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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    • v.30 no.6_1
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    • pp.539-547
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    • 2012
  • Volume survey for earthwork is conducted periodically at every month at large scaled construction sites for request payment for the construction. Currently, the earthwork volume is calculated on the overlapped drawing for two cross sections which were created by new and previous surveying data observed by GPS and TS. However the survey is required lots of time and expenses as it is a pin-point surveying method thus surveyors intend to get data only for the heavy undulated topographic features chosen by himself to save time and expenses. Consequently, it causes poor results due to low dense measurement as well as it's not matched with the results by another surveyors. As a result, the conflicts related in earthwork volume calculation often arises among the owner, contractors and sub contractors. In this study, we developed a method to get surveying data for fast and accurate volume calculation using 3D Mobile Laser System and conducted an application test. Also we carried out experiments for topographic survey using MLS to judge for the application additionally. The results showed that we could reduce a time for cross section survey from 48 hours to 2 hours and collected high dense data which have 0.2m interval instead of 3m interval compare with existing method. Also we could make a map which has high accuracy within 10cm in horizontal through topographic survey using MLS.

Measurement of the Public Value of Conserving Green Turtles (푸른바다거북 보전의 공익적 가치 추정)

  • Lim, Seul-Ye;Kim, Min-Seop;Cho, In-Young;Lee, Chang-Su;Kwon, Suk-Jae;Yoo, Seung-Hoon
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.23 no.2
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    • pp.177-186
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    • 2017
  • This paper attempts to quantitatively assess the public value that has been assigned to this government plan by employing a contingent valuation technique. Data gathering performed that professional research firm administrated a face-to-face national survey of 1,000 randomly-selected households. A one-and-one-half-bound model was adopted to elicit willingness to pay (WTP) responses, and the payment vehicle used was income tax. The WTP model used in this study is based on a utility difference approach and the spike model. The results showed that the public value of conserving green turtles was estimated to be 2,570 Korean Won per household over the next 10 years as of 2016, statistically significant at the 1% level. Expanding the values considered to include the national population gives a public value of 48.7 billion Korean Won. Thus, the public value of rescuing, rehabilitating, and releasing green turtles that have been caught by fishermen, collided with fishing boats, and died in nets through the government program is not small.