• Korea Journal of Hospital Management
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• v.24 no.1
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• pp.48-56
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• 2019

Purpose: As an interest in the elderly medical expenses increases, elderly people are increasingly purchasing indemnity private health insurance. Authors tried to investigate factors of having the indemnity private health insurance among the elderly people aged 65-75 years. Methods: We conducted panel logit regression analysis on 2,465 subjects as of 2016 using Korean Health Panel from 2010 to 2016. The dependent variable was whether to enroll in the indemnity private health insurance. The explanatory variables included socio-demographic characteristics, economic factors, health status, and health behaviors. Findings: As a result of the analysis of factors of purchasing indemnity private health insurances, it was analyzed that people with larger family, educated, pensioner, high household income or no disability were more likely to have indemnity private health insurance. Practical Implications: Considering the results of this study, the factor of purchasing indemnity private health insurance among elderly people were more likely to be their economic than demographic characteristics such as sex, age, and marital status. Policy makers should make efforts to reduce the burden on the elderly medical expense and to improve equity of medical use through institutional improvement such as raising age limit and lowering premium of indemnity private health insurance and expansion of public health insurance.

• Journal of the Korea Institute of Building Construction
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• v.13 no.2
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• pp.112-121
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• 2013

Korean overseas construction has been on the rise, and exceeded the 2011 goal of $50 billion by securing $59.1 billion in orders. However, these orders were heavily concentrated in the Middle East (50%) and plant construction contracts (75%). This study suggests that, to maintain growth in foreign markets, Korea construction companies should enter into the high value-added investment development business and aggressively seek ways to diversify their regions of activity and construction types. To secure the entry of Korean construction companies into lucrative markets and better understand the competitive factors facing Korean construction concerns, a survey of the literature and focus group discussions targeting relevant experts were carried out. From those efforts, a list of 44 competitive factors crucial to entering and competing in the international investment development business was developed. Survey responses were analyzed by applying IPA. The results revealed that while Korean concerns compete well in engineering/technical capabilities, maintaining a cooperative relationship with contractors, and warranty/after sales service capabilities, their ability to obtain business information on the target country, to form private/public cooperative systems, and to build international human networks require immediate improvement.

• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.63-70
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• 2017

Although the National Health Insurance, many people sign up for private health insurance to alleviate their financial burden. In this study, we analyzed the relationship between private health insurance and subjective financial burden about cost sharing. To confirm the effect we conducted the binary logistic regression by utilizing the Health Care Policy related to public survey. The private health insurance have a significantly association with the subjective financial burden about cost sharing. People who uninsured to purchase private health insurance were more likely to have the burden. Therefore, given the low participation rate of private medical insurance for high age and low income group, we suggest the need for redefining the role of private insurance to enhance the function and resolve equity issues to prepare for the burden.

• Journal of Global Scholars of Marketing Science
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• v.20 no.1
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• pp.27-34
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• 2010

During the past 10 years, sales of luxury goods increased significantly to more than US$ 130 billion in 2007. In this industry, more than half of the revenue comes from Asia where the average income has risen significantly, and the demand for luxury products is forecast to grow rapidly. Purchasing luxury brands appears to be an intriguing social phenomenon that is profitable for companies in this region. As a newly developed country, Korea is one of the most attractive luxury markets in Asia. Currently, a total of 120 luxury fashion brands have entered the Korean market, primarily in luxury districts in Seoul where the competition is fierce. The purposes of this study are to: (1) identify antecedents of attitude toward luxury brands, (2) examine the effect of attitudes toward luxury brands on customer equity, (3) determine the impact of attitudes toward luxury brands on customer lifetime value, and (4) investigate the influence of customer equity on customer life time value. Previous studies have examined materialism, social need, experiential need, need for uniqueness, conformity, and fashion involvement as antecedents of attitude toward luxury brands. Richins and Dowson (1992) suggested that that materialism influences consumption behavior relative to quantity of goods purchased. Nueno and Quelch (1998) reported that the ownership of luxury brands conveys information related to the owner's social status, communicates an image of success and prestige, and is a determinant of purchase behavior. Experiential need is recognized as an important aspect of consumption, especially for new products developed to meet consumer demand. Since luxury goods, by definition are relatively scarce, ownership of these types of products may fulfill consumers' need for uniqueness. In this study, value equity, relationship equity, and brand equity are examined as drivers of customer equity. The sample (n = 114) was undergraduate and graduate students at two private women's universities in Seoul, Korea. Data collection was conducted using a self-administered questionnaire survey in March, 2009. Data analysis included descriptive statistics, factor analysis, reliability analysis, and regression analysis using SPSS 15.0 software. Data analysis resulted in a number of conclusions. First, experiential need and fashion involvement positively influence participants' attitude toward luxury brands. Second, attitude toward luxury brands positively influences brand equity, followed by value equity and relationship equity. However, there is no significant relationship between attitude toward luxury brand and customer lifetime value. Finally, relationship equity positively influences customer lifetime value. In conclusion, young consumers are an important potential consumer group that tries different brands to discover the ones most suitable for them. Luxury marketers that use effective marketing strategies to attract and engender loyalty among this potentially lucrative consumer group may increase customer equity and lifetime value.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.1
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• pp.143-147
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• 2013

This paper examines the impact of corporate governance structure on the cost of debt. Total sample is divided into the small sample, the medium sample and the large sample of equity concentration, based on the equity ownership of large shareholders. Our regression results show that foreign investors are not associated with the cost of debt in the small and medium samples of equity ownership, whereas foreign investors are significantly associated with the reduction in the cost of debt in the large sample of equity concentration. Academic implications of our findings are that as the ownership of dominating shareholders rises, they seek their private interests of perks causing an increase in agency costs and a decrease in firm's economic value, thus expanding borrowing costs. Practical business implications are that foreign investors may alleviate agency problem of dominating large shareholders in the firm through monitoring activities, thus enhancing the efficiency of business decision-makings.

• Journal of the Korea Convergence Society
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• v.10 no.8
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• pp.217-226
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• 2019

This study examines the effect of the wedge between voting rights and cash flow rights of controlling shareholders on the implied cost of equity. Prior studies posit that controlling shareholder's voting rights exceeding cash flow rights causes expropriating minority shareholders. Using date from 793 group-affiliated Korean firms for 10 years from 2005 to 2016, the result shows that there is a positive and significant relationship between controlling shareholders' wedge and implied cost of equity. This result implies that investors regard the controlling shareholders' wedge as potential agency cost in which they require additional risk premium because controlling shareholders have a strong incentive to pursue their private interests trough tunneling practices.

• Korea Journal of Hospital Management
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• v.23 no.4
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• pp.53-64
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• 2018

Purposes: The hospitals needs to generate a minimum profit, in order to perform its own role such as providing high-quality medical services. The demand for hospital management is increasing, as the social demands are diversified and the financial transparency is emphasized. The purpose of this study is to compare hospitals management based on Dupont Identity, by various hospital classification. Methodology: This study is based on '2016 Statistics for Hospital Management' provided by the Korea Health Industry Development Institute. The hospitals were classified according to the scope of care, the type of establishment, the location, and the number of beds. We analyzed the general and financial characteristics of over 337 hospitals using the method of Dupont Identity. Findings: Net profit margin (PM) has the biggest impact on return of equity (ROE). By the number of beds, general hospital with 160-299 beds have the highest return on equity (ROE). By location, hospitals in local municipalities have higher return on equity than hospitals in urban municipalities. According to the type of establishment, public hospitals have lower business performance, and although they invest more than private hospitals. Practical Implications: This study can inspire interest and provide understanding in hospital management and financial structure, by analyzing through an intuitive indicator named Dupont identity. It is possible to provide basic data for hospital management methods for each financial elements, in order to increase the profitability of hospitals.

• Management & Information Systems Review
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• v.5
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• pp.139-160
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• 2000

Todays our private universities have been facing with serious survival competition according to the opening of education market, the diminishment of college voluntarists and the increase of education supply. In coming the beginning of the year of 2000, though the equal formula. 'The fixed number of students of universities = The number of graduates of high schools' will he formed, even though the tendency of the fixed number of students of universities is maintained as it is, and it has been expected the unlimited competition would be unvaoidable, so private universities and private junior colleges which are weak in financial power are roaring the crisis consciousness that they may have to close doors before making every effort. Based on such presentation of problem as its study object, the range of study is limitted to the educational financial portion related to higher education field. Especially, the financial portion of private universities of higher educational field is discussed in priority. Besides, the present status of financial condition of our universities was portionally compared with that of in the advanced nations. It is true that pursuing the academic superiority of university education in our country, and attaining object of university as well as developing reflection in future should stand side by side. Therefore, payment of fee, supporting subsidy, etc. is attached too much importance to the financial problem. In our country, the financial allotment is attached too much importance to national universities. This is against the principle of equity to the tax payers, and equality of opportunity, so the level of supporting national funds should be upward formed and supported from 1.0% to higher than 20%. In conclusion, our private universities should adopt as many alternatives of rationalization of finance as possible, such as securing lots of funds and subsidies, and rationalized management of finance, and ensuring finance according to the increasing number of students after university specialization, etc.

• Journal of Korean Society of Transportation
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• v.14 no.1
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• pp.7-27
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• 1996

It is very costly to construct transportation facilities such as roads, bridges, tunnels, and public parking lots mainly because land price is very high in metropolis like Seoul. Private car oweners use these facilities more extensively than public transportation users. However, the government does not impose proper charges for using these facilities. Such improper charge causes traffic congestion and then decreases social welfare in efficiency and equity. To solve problem, many traffic demand management policies are used. Traffic management policies which are currently used or under consideration by the City Government of Seoul include the imposition of road tolls, increase of parking fees in public parking lots, increase of gasoline taxes, expanded implementation of bus only lanes, and shippujae, which requires one(1) non-driving day for 10 calendar days. This study examined the impacts of such policies on the different income classes using simulation analysis. We found that the impacts of market-oriented policies such as the imposition of road tolls and the increase of gasoline taxes is regressive. Also, we found that while the low and middle income private car users have incentive have incentive for public transportation use, the high income private car users have no incentive for public transportation use in many cases.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.509-519
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• 2007

Private financing is playing an increasing role in public infrastructure construction projects worldwide. However, private investors/operators are exposed to the financial risk of low profitability due to the inaccurate estimation of facility demand, operation income, maintenance costs, etc. From the operator's perspective, a sound and thorough financial feasibility study is required to establish the appropriate capital structure of a project. Operators tend to reduce the equity amount to minimize the level of risk exposure, while creditors persist to raise it, in an attempt to secure a sufficient level of financial involvement from the operators. Therefore, it is important for creditors and operators to reach an agreement for a balanced capital structure that synthetically considers both profitability and repayment capacity. This paper presents an optimal capital structure model for successful private infrastructure investment. This model finds the optimized point where the profitability is balanced with the repayment capacity, with the use of the concept of utility function and multi-objective GA (Generic Algorithm)-based optimization. A case study is presented to show the validity of the model and its verification. The research conclusions provide a proper capital structure for privately-financed infrastructure projects through a proposed multi-objective model.