• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.37
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• pp.187-216
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• 2008

Risk regarding the possibility of loss can be especially problematic. If a loss is certain to occur, it may be planned for in advance and treated as a definite, known expense. It is when there is uncertainty about the occurrence of a loss that risk becomes an important problem. The word risk is often used in connection with insurance. No one generally accepted definition of risk exists, however. Of the many definitions, two distinctive ones are commonly used. One defines risk as the variation in possible outcomes of an event based on chance. That is, the greater the number of different outcomes that may occur, the greater the risk. Another way of expressing this concept is to state: The greater the variation around an average expected loss, the greater the risk. The second definition of risk is the uncertainty concerning a possible loss. The definition of risk as a useful one because it focuses attention on the degree of risk in given situations. The degree of risk is a measure of the accuracy with which the outcome of an event based on chance can be predicted. For now, it will serve our purpose to note the more accurate the prediction of the outcome of an event based on chance, the lower the degree of risk. After sources of risks are identified and measured, a decision can be made as to how the risk should be handled. A pure risk that is not identified does not disappear, the business merely loses the opportunity to consciously decide on the best technique for dealing with that risk. The process used to systematically manage risk exposures is known as risk management. Some persons use the term risk management only in connection with businesses, and often the term refers only to the management of pure risks. In this sense, the traditional risk management goal has been to minimize the cost of pure risk to the company. But as firms broaden the ways that they view and manage many different types of risk, the need for new terminology has become apparent. The terms integrated risk management and enterprise risk management reflect the intent to manage all forms of risk, regardless of type. International trade transaction is called between countries has features of globalism, cultural gap, long distance and long terms for the transaction. It is riskier than domestic transaction has its specific risks, such as foreign exchange risk and political risk, and requires various active risk management skills. Risks in relation to the international trade transaction are the contract risk, transit risk and payment risk, etc. The risk management in relation to the international trade transaction is to identify and measure these risks. The purpose of this study is to analyse the practical problems and its solution plan by analyzing various cases related to the risk management of bill of lading in the international trade transaction.

• KDI Journal of Economic Policy
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• v.41 no.4
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• pp.1-44
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• 2019

The contingent convertible bond (or CoCo) is designed as a bail-in tool, which is written down or converted to equity if the issuing bank is seriously troubled and thus its trigger is activated. The trigger could either be rule-based or discretion-based. I show theoretically that the bail-in is less implementable and that the associated bail-in risk is lower if the trigger is discretion-based, as governments face greater political pressure from the act of letting creditors take losses. The political pressure is greater because governments have the sole authority to activate the trigger and hence can be accused of having 'blood on their hands'. Furthermore, the pressures could be augmented by investors' self-fulfilling expectations with regard to government bailouts. I support this theoretic prediction with empirical evidence showing that the bail-in risk premiums on CoCos with discretion-based triggers are on average 1.13 to 2.91%p lower than CoCos with rule-based triggers.

• Journal of Navigation and Port Research
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• v.28 no.8
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• pp.687-697
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• 2004

This paper is aimed to guide ocean-going companies to reasonable decisions and to increase the competitiveness of Korean shipping industry by clarifying the determinants of political costs of ocean-going companies, which only depend for the enormous amount of money to introduce the operating fixed assets, or the vessels, upon the supporting policy from the government or the loan from the related financial institutions. As independent variables of the political costs, 5 elements were settled such as company size(sales, total assets and market share), debit ratio, capital concentration ratio, profitability(operating profit) and marine risk(sales fluctuation). To verify the relations and the effect level between dependent variables and political costs, the Multiple Regression Analysis Model was applied The result of the analysis shows significantly positive relations between size variables and political cost of shipping industry. Moreover, debt ratio and profitability were proved significant related with political costs of shipping industry.

• Journal of the Korean Society of Radiology
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• v.11 no.6
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• pp.483-491
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• 2017

This study investigates the perception of the general public through analysis of various potential risk factors reflecting nuclear power generation and nuclear power (radiation) and risks. A total of 293 copies of the data were collected from various strata in Busan. As a result, among the potential factors in everyday life, there was a high awareness of the risk to the fire. Next, the perception of risk for radiation terror and nuclear (nuclear) energy was relatively high compared to other risk factors. In the analysis according to age, educational background, and political ideological tendency, the results were contradictory to the necessity, risk and safety of nuclear power generation. The potential risk factors and the perception of nuclear power according to the tendency of political ideology were analyzed to be positive recognition of conservative ideology and negative recognition of progressive group. In other words, the perception of nuclear power was analyzed differently according to the tendency of political ideology. Therefore, it should be decided to reflect the opinions of experts and various opinions of the general public in the setting of nuclear radiation (radiation), it is believed that ordinary people need to take flexible action without having a vague sense of anxiety about various potential risks and nuclear power (radiation) based on objective and scientific grounds.

• Environmental Analysis Health and Toxicology
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• v.16 no.2
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• pp.75-84
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• 2001

Differences in risk perception on major environmental issues between general public and environmental experts were investigated in this study. Questionnaire surveys were conducted to samples from general public and environmental experts during March and April, 2000. Total number of responses was 1,126 including 773 persons from general public and 353 experts. Risk perceptions on 26 environmental issues were related with the need to regulate each issue, controllability, experience, political views, interest in environmental problem, satisfaction of environment, severity of environmental pollution. There was statistically significant difference in risk perceptions between general public and experts. Overall, general public was likely to perceive risks associated with environmental problem, as well as social need to regulate these problems more than experts. The issues with high risk perception and need to regulate were 'automobile exhaust', 'industrial air pollution', ocean pollution by industrial waste and oil exhaust', 'air pollution by chemicals', 'surface water pollution by waste from household', 'industrial and hospital waste', 'surface water pollution by pesticide'and'sewage and food waste'. Consequently, it seems necessary to manage these issues, prior to others.

• Korean Journal of Weed Science
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• v.13 no.4
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• pp.195-202
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• 1993

The benefits of pesticides in improving the food quantity and quality requirements for an increasing world population are significant, and they can be described in agronomic, economic and social terms. The risks are assessed from the hazards which are likely to occur in practice ; the hazards are defined by the toxicity of the pesticide to non-target organisms at various exposure levels. There are ways of reducing the risks (mainly by reducing exposure in practice) and improving the benefits of pesticides ; these are known as risk management and benefit management respectively. The overall risk-benefit assessment is facilitated if each component can be expressed in financial terms, but it must be made nationally or locally on a sound technical basis against the prevailing agronomic, socio-economic and political circumstances. Paraquat is used to illustrate the risk-benefit assessment process in general terms, and the conclusion is that the benefits greatly outweigh the risks. It is important to keep the risks of pesticides in perspective with those associated with other naturally occurring chemicals in our diet and with other everyday aspects of life. In an overall context, the pesticide risk is small.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.990-994
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• 2009

With the world in financial recession, the general trend of global trade is declining. As a result, the world leading shipbuilding industries are confronted with an even more difficult task of mitigating various risks associated with the industries. How well the three shipbuilding industries, Japan, Korea and China, can adapt and manage the risks will be crucial. As the youngest of the top three, the Chinese industry faces greater risks. As it happens to share many factors with that of South Korea in 2004-2005, it is necessary to review and evaluate the risk management plan used by South Korea. This paper presents an evaluation of the risk management plan for shipbuilding industry in South Korea during 2004-2005, considering the financial and political environments at that time. This will help us to structure a plan of risk management for the future.

• Acta Via Serica
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• v.7 no.1
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• pp.105-130
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• 2022

This paper argues that the war in Syria is partly the result of a global Islamist wave that contributed to fuelling conflict across large regions of Asia and Africa. Of course, the war that has consumed Syria since 2011 most certainly has multiple interrelated causes and driving forces, and any attempt to isolate one or even two or three runs the risk of advancing an overly simplistic interpretation of history. This essay, therefore, does not aim to offer an appraisal of the multiple variables that contributed to the war in Syria. Instead, it zeroes in on how political Islam came to impact Syria and its people. In doing so, it demonstrates how competing varieties of political Islam represented leading causes of conflict. Indeed, different Islamist movements contributed to the outbreak of the war in 2011, fuelled the conflict for years on end, and to this day represent major obstacles to the achievement of sustainable peace. Four broad Islamist currents are especially relevant to the case of Syria: the Muslim Brotherhood; the Shia revivalist movement at the nexus of the alliance between Iran, Hezbollah, and Syria; Salafi jihadism and its volatile and fractious underworld of competing armed groups, from Al-Qaeda to the Islamic State; and Recep Tayyip Erdoğan's market-friendly Islamism, which induced Turkey to intervene in Syria's civil war.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.140-149
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• 2007

Indian construction companies have only 0.05% market share in the 3-4 trillion dollar global construction business and only two Indian construction companies figure in the ENR "Top 225 Global Contractors 2006" list. Hence, while enormous scope for growth exists, international construction experience is limited. This study explores the risks as perceived by Indian companies venturing abroad since risks in international construction differ from home market risks. Literature survey identified a number of risk factors that were evaluated by the experts, highlighting fourteen important risk factors. Interpretive Structural Modelling (ISM) was used to develop a hierarchical model showing the relationships between the different risk factors, thus helping to focus on the key risks for effective risk management. The study shows that poor project management is a key risk forming the hub of the system, while political instability has maximum influence. The results of the study can be used by managers to visualise the risks in perspective and prioritise the mitigation effort.

• STI Policy Review
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• v.6 no.2
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• pp.54-86
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• 2015

The study examines the U.S. Small Business Innovation Research (SBIR) program, with a focus on the recent Reauthorization, and compares, in the political context, the U.S. and East Asian countries-Japan, Korea and Taiwan-that adopted the U.S. SBIR program. For the systematic analysis and cross-country comparison, the study employs Kingdon (2003)'s framework-his political theory and Garbage Can Model-to identify political participants and processes underlying the SBIR Reauthorization and to analyze the differences in problem, policy, and politics streams between the U.S. and East Asian countries. For the cross-country comparison, specifically, the study uses various data sources such as OECD, Global Entrepreneurship Monitor, Hofstede's Cultural Dimensions, and World Value Survey. Based on the analysis outcomes, implications of U.S. practices on East Asian countries are extracted as follows. East Asian countries tend to: Have higher entrepreneurial aspiration while lower entrepreneurial activity and attitude than the U.S.; bear higher long term orientation and uncertainty avoidance while lower individualism than the U.S.; and have greater expectations of technology development and higher confidence in political parties while participating less in political action than the U.S. Drawing on the differences, the following policy recommendations are suggested. East Asian countries should: Improve entrepreneurs' access to resources (in particular, financial resource) in order to link their high entrepreneurial aspiration to actual entrepreneurial activities; cultivate failure-tolerating culture and risk-taking entrepreneurs, for instance, by providing a second chance to SBIR-participating businesses that failed to materialize their innovative ideas; and leverage their high expectations of new technology in order to take bold actions regarding their SBIR programs, and update the programs by drawing out constructive dialogues between SBIR stakeholders.