• International conference on construction engineering and project management
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• 2011.02a
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• pp.413-419
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• 2011

Corporate governance is a system articulating the division of responsibilities among different company members, and defining the running rules and procedures for making decisions on corporate affairs. The separation of ownership and management in modern enterprises brings agency problems to the company shareholders, and it is wildly believed that good practice on corporate governance is essential to prevent managers from taking actions by which profiteering their own benefits but compromising the interests of shareholders. This research investigates the level of companies' compliance with the corporate governance codes to find whether significant differences in corporate governance practice exist between the listed construction companies and the national leading companies in Taiwan. Further exploration focuses on the correlation between the compliance level and the industrial features. The investigation finds that: (1)Construction companies display lower levels of corporate governance compliance; (2)Construction companies display lower levels of structural board independence and respect for stakeholders; (3)Compliance levels of construction companies are correlated with the number of employees and the ownership concentration; (4)Compliance levels of the whole sample companies are correlated with the factors representing firm size, such as turnover, capital and number of employees, but are independent of profitability as well as stock price volatility. The above empirical evidence characterizes the features of corporate governance in Taiwan listed construction companies, including: (1)Large companies lurking high risk of agency problems have more willingness to conduct corporate governance and meanwhile can afford higher costs for the conduction, so that their compliance level would be higher than smaller companies; (2)Construction companies in Taiwan have higher ownership concentration, on account of the industrial tradition of family business, and therefore pay less attention to the compliance with structural board independence and respect for stakeholders. However, the conclusions indicate that further studies are essential to clarify whether the above disparities would lead to a negative cycle of corporate governance practice in construction industry. The benefits of corporate governance should unfold more evidently to convince construction companies for improving their investment environment and stimulating their healthy growth.

• Korean Journal of Construction Engineering and Management
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• v.24 no.6
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• pp.12-23
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• 2023

The goal of international development projects is to assist sustainable development in recipient countries through foreign aid from donor countries. However, despite the need for both countries to negotiate and work together from the initial stages to maintain sustainability after the project, clear guidelines or standards have not been established. Additionally, despite the need for donor countries, which are relatively advanced, to understand the situation of recipient countries, many projects are donor-centric and fail to prioritize the value of sustainability. Therefore, this study extracted economic, social, and environmental risks that threaten sustainability through literature review and proposed a sustainability framework based on these criteria. To validate framework, actual international development cases conducted by advanced donor countries such as Australia, the United States, and Japan, in collaboration with South Korea, were analyzed by applying content analysis with the reports, which covers the overall contents from the planning stage to the operation stage. Analysis of sustainability perspectives focused on economy, society and the environment, advanced donor countries emphasized (1) the importance of pre-assessment, (2) the need for coordination with the local population and communities despite the existence of donor-specific values, and (3) addressing economic considerations such as pre-operational and maintenance costs, social communication with the local population, and environmental considerations starting from the initial stages of construction regarding the treatment of pollutants as values to be improved. Compared to other advanced donor countries, the Republic of Korea should also focus on consultation with local residents to achieve social integration, and improve sustainability by deployment the managers in local sites for better negotiation.The proposed framework in this study will serve as a tool to enhance communication among the countries and the locals, with the expectation of increasing project efficiency and sustainability.

• Journal of the Korean Institute of Landscape Architecture
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• v.46 no.5
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• pp.44-58
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• 2018

Cities face new challenges not only in natural disasters by climate change but also in social and economic fluctuations. With the existing simple reconstruction method, it is difficult to solve the overall problems that a city or region may face. As a new approach to cope with various changes, the concept of resilience is emerging. Resilience is also one of the themes of recent major urban design projects. Design with the concept of resilience is a new strategy that can deal with various changes of urban space, rather than a temporary trend. The purpose of this paper is to explore the design method by analyzing cases where the concept of resilience is employed. We aim to examine what kind of design strategies are needed for the resilience design and how this design process differ in character, as compared to general design projects. Cases for this study include the "Rebuild by Design" competition held in 2013 and the "Resilient by Design/Bay Area Challenge" competition held in 2017. This paper consists of literature reviews and case studies. The latter is divided into two aspects: content analysis based on the theory of resilience and characteristics of the design process. Cases are analyzed through literature reviews and process characteristics of resilience design in response to the general design process. The main categories for urban resilience used as the framework for analysis include: Urban Infrastructure, Social Dynamics, Economic Dynamics, Health and Wellbeing, Governance Networks, and Planning and Institutions. As a result, the aspects of resilience concepts considered and design strategies undertaken by each team were identified. Each team tried to connect all 6 categories to their design strategies, placing special value on the role of governance, a system that enables collaborative design and project persistency. In terms of the design process, the following characteristics were found: planning the whole project process in the pre-project phase, analyzing predictable socioeconomic risk factors in addition to physical vulnerabilities, aiming for landscape-oriented integrated design, and sustainable implementation strategies with specific operations and budget plans. This paper is meaningful to connect the concept of resilience, which has been discussed in various articles, to design strategy, and to explore the possibility of constructing a practical methodology by deriving the characteristics of the resilience design process. It remains a future task to research design strategies that apply the concept of resilience to various types of urban spaces, in addition to areas that are vulnerable to disasters.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.85-96
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• 2013

Entrepreneurship courses and programs in Korean universities tend to increase steadily but seem to have some limitations. They are usually recognized as another domain of Business Administration. Entrepreneurship program is practical like Business Administration but should be much more interdisciplinary than that. Because Korean Entrepreneurship programs are in the early stage, they must be reinforced with factors such as education culture, faculties, curriculum and relationships with communities. This study aims to get some implications from Entrepreneurship programs have been run by universities in America in order to facilitate Entrepreneurship program in Korean universities. Based on 11 success factors found by our case universities' Entrepreneurship programs and Kauffman Campus, this study has drawn implications of critical success factors of Entrepreneurship programs as follow. First of all, because Entrepreneurship programs should focus on Entrepreneurship mind sets such as innovative idea generation and courage to overcome risk, it is more desirable that Entrepreneurship programs are introduced in all departments of universities such as Arts, Science and Engineering. These programs also need to take interdisciplinary approach and required to be opened from liberal arts course. In order to be sustained during all their academic careers, vision, mission and strategy for Entrepreneurship programs should be based on strong leadership and support of top leaders. Entrepreneurship culture of each university is also one of the most important success factors. Entrepreneurship programs not only as major programs but also as specific Entrepreneurship minors designed for departments such as Arts, Science and Engineering could be considered according to each university's situation. This study also suggest to make a motivation system for Entrepreneurship faculties, Ph d. programs for Entrepreneurship, communication network for Entrepreneurship programs and mentor system in community. To begin Entrepreneurship programs, it also needs to develop good education contents as many as possible. When it concerned with teaching method, project based 4 year program can be suggested to be effective and efficient. To introduce project based program that should be consistent till participants' graduation, university must prepare regulations to support team teaching, mentor and interdisciplinary cooperation. To dissipate the concept that Entrepreneurship is another version of management, this study support the idea that Entrepreneurship programs should be designed and run by independent and central-focused governance system, Entrepreneurship education center.

• Journal of the Society of Disaster Information
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• v.14 no.3
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• pp.238-246
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• 2018

Purpose: The purpose of this study is to examine the directions for establishing a disaster safety village in rural areas where damage from a similar type of disaster occurs repeatedly by conducting the consciousness survey targeting at experts and disaster safety officials in a local government. Method: The risks of disaster in rural areas were examined and the concept and characteristics of disaster safety village which is a measure on the basis of Myeon (township) among the measures of village unit were examined in order to carry out this study. In addition, opinion polling targeting at officials-in-charge in the local government and survey targeting at experts in disaster safety and building village were conducted. Based on the findings, the directions for establishing a disaster safety village that fitted the characteristics of rural areas were examined. Result: The officials-in-charge in the local government answered that rural areas have a high risk of storm and flood such as heavy snowing, typhoon, drought, and heavy rain as well as forest fire, and it is difficult to draw voluntary participation of farmers for disaster management activities due to their main duties. They also replied that active support and participation of residents in rural areas are necessary for future improvement measures. The experts mostly replied that the problem of disaster safety village project is a temporary project which has low sustainability, and the lack of connections between the central government, local governments and residents was stressed out as the difficulties. They said that measures to secure the budget and the directions of project promotion system should be promoted by the central government, local governments and residents together. Conclusion: The results of this study are as follows. First, a disaster safety village should be established in consideration of the disaster types and characteristics. Second, measures to secure the budget for utilizing the central government fund as well as local government fund and village development fund should be prepared when establishing and operating a disaster safety village in rural areas. Third, measures to utilize a disaster safety village in rural areas for a long period of time such as the re-authorization system should be prepared in order to continuously operate and manage such villages after its establishment. Fourth, detailed measures that allow residents of rural areas to positively participate in the activities for establishing a disaster safety village in rural areas should be prepared.

• Korean Journal of Heritage: History & Science
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• v.53 no.4
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• pp.198-215
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• 2020

Official development assistance refers to assistance provided by governments and other public institutions in donor countries, aimed at promoting economic development and social welfare in developing countries. The purpose of this research is to examine the construction process of the "Myanmar Cultural Heritage Management System" that is underway as part of the ODA project to strengthen cultural and artistic capabilities and analyze the achievements and challenges of the Digital Cultural Heritage ODA. The digital cultural heritage management system is intended to achieve the permanent preservation and sustainable utilization of tangible and intangible cultural heritage materials. Cultural heritage can be stored in digital archives, newly approached using computer analysis technology, and information can be used in multiple dimensions. First, the Digital Cultural Heritage ODA was able to permanently preserve cultural heritage content that urgently needed digitalization by overcoming and documenting the "risk" associated with cultural heritage under threat of being extinguished, damaged, degraded, or distorted in Myanmar. Second, information on Myanmar's cultural heritage can be systematically managed and used in many ways through linkages between materials. Third, cultural maps can be implemented that are based on accurate geographical location information as to where cultural heritage is located or inherited. Various items of cultural heritage were collectively and intensively visualized to maximize utility and convenience for academic, policy, and practical purposes. Fourth, we were able to overcome the one-sided limitations of cultural ODA in relations between donor and recipient countries. Fifth, the capacity building program run by officials in charge of the beneficiary country, which could be the most important form of sustainable development in the cultural ODA, was operated together. Sixth, there is an implication that it is an ODA that can be relatively smooth and non-face-to-face in nature, without requiring the movement of manpower between countries during the current global pandemic. However, the following tasks remain to be solved through active discussion and deliberation in the future. First, the content of the data uploaded to the system should be verified. Second, to preserve digital cultural heritage, it must be protected from various threats. For example, it is necessary to train local experts to prepare for errors caused by computer viruses, stored data, or operating systems. Third, due to the nature of the rapidly changing environment of computer technology, measures should also be discussed to address the problems that tend to follow when new versions and programs are developed after the end of the ODA project, or when developers have not continued to manage their programs. Fourth, since the classification system criteria and decisions regarding whether the data will be disclosed or not are set according to Myanmar's political judgment, it is necessary to let the beneficiary country understand the ultimate purpose of the cultural ODA project.

• Journal of Intelligence and Information Systems
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• v.20 no.1
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• pp.35-48
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• 2014

According to the 2013 construction market outlook report, the liquidation of construction companies is expected to continue due to the ongoing residential construction recession. Bankruptcies of construction companies have a greater social impact compared to other industries. However, due to the different nature of the capital structure and debt-to-equity ratio, it is more difficult to forecast construction companies' bankruptcies than that of companies in other industries. The construction industry operates on greater leverage, with high debt-to-equity ratios, and project cash flow focused on the second half. The economic cycle greatly influences construction companies. Therefore, downturns tend to rapidly increase the bankruptcy rates of construction companies. High leverage, coupled with increased bankruptcy rates, could lead to greater burdens on banks providing loans to construction companies. Nevertheless, the bankruptcy prediction model concentrated mainly on financial institutions, with rare construction-specific studies. The bankruptcy prediction model based on corporate finance data has been studied for some time in various ways. However, the model is intended for all companies in general, and it may not be appropriate for forecasting bankruptcies of construction companies, who typically have high liquidity risks. The construction industry is capital-intensive, operates on long timelines with large-scale investment projects, and has comparatively longer payback periods than in other industries. With its unique capital structure, it can be difficult to apply a model used to judge the financial risk of companies in general to those in the construction industry. Diverse studies of bankruptcy forecasting models based on a company's financial statements have been conducted for many years. The subjects of the model, however, were general firms, and the models may not be proper for accurately forecasting companies with disproportionately large liquidity risks, such as construction companies. The construction industry is capital-intensive, requiring significant investments in long-term projects, therefore to realize returns from the investment. The unique capital structure means that the same criteria used for other industries cannot be applied to effectively evaluate financial risk for construction firms. Altman Z-score was first published in 1968, and is commonly used as a bankruptcy forecasting model. It forecasts the likelihood of a company going bankrupt by using a simple formula, classifying the results into three categories, and evaluating the corporate status as dangerous, moderate, or safe. When a company falls into the "dangerous" category, it has a high likelihood of bankruptcy within two years, while those in the "safe" category have a low likelihood of bankruptcy. For companies in the "moderate" category, it is difficult to forecast the risk. Many of the construction firm cases in this study fell in the "moderate" category, which made it difficult to forecast their risk. Along with the development of machine learning using computers, recent studies of corporate bankruptcy forecasting have used this technology. Pattern recognition, a representative application area in machine learning, is applied to forecasting corporate bankruptcy, with patterns analyzed based on a company's financial information, and then judged as to whether the pattern belongs to the bankruptcy risk group or the safe group. The representative machine learning models previously used in bankruptcy forecasting are Artificial Neural Networks, Adaptive Boosting (AdaBoost) and, the Support Vector Machine (SVM). There are also many hybrid studies combining these models. Existing studies using the traditional Z-Score technique or bankruptcy prediction using machine learning focus on companies in non-specific industries. Therefore, the industry-specific characteristics of companies are not considered. In this paper, we confirm that adaptive boosting (AdaBoost) is the most appropriate forecasting model for construction companies by based on company size. We classified construction companies into three groups - large, medium, and small based on the company's capital. We analyzed the predictive ability of AdaBoost for each group of companies. The experimental results showed that AdaBoost has more predictive ability than the other models, especially for the group of large companies with capital of more than 50 billion won.

• Korean Journal of Construction Engineering and Management
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• v.9 no.1
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• pp.107-117
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• 2008

In this study, surveys and interviews are used to evaluate technological competitiveness of each product with respect to that of foreign leading firms, for seven leading domestic construction products which have been determined to have competitive edge in offshore markets, Such evaluation provides a more in depth study than previously conducted research, and is meaningful in that corporate level, rather than industry level, perspective is projected. Major findings of such evaluations are the following. First, as expected, it has been evaluated that domestic technological competitiveness in desalination plant and power plant has reached the point where it can compete with foreign leading firms. Moreover, a noteworthy result of the evaluation is that development program sector, including urban development of satellite cities, has reached considerable level of competitiveness in offshore market. In the case of the development market, domestic firms have accumulated sufficient experience in domestic market and engineering technology is not a decisive factor as in plant sector, and these factors lead to such an evaluation. Second, in the cases of gas, oil refinery and petro-chemical plants, domestic products' technological competitiveness that can contest in offshore market is still centered around production and construction. On the other hand, there are still weaknesses in license technology and basic design capabilities, which constitute the "value added" area. Third, skyscrapers, a promising product in offshore construction market and a product group which domestic firms have much performance record and projects in progress both in domestic and offshore markets, are considered. While direct comparison between skyscrapers and plant sector is not feasible, with the exception of production and construction, overall domestic capability in this sector has been assessed to be the lowest amongst those products that were surveyed. Fourth, it has been indicated that competitiveness is relatively higher in common technology than in key technology. In project management capability, it has been assessed that there are weaknesses in procedure document area. Also, a characteristic is the point that low overall assessments have been given across all product groups for corporate and management areas, not technological areas. Especially, financing, contracting/claim, risk management and investment on research and development received low evaluations. Fifth, it has been assessed that overall corporate and governmental supports are weak. This result is especially evident for corporate management and support areas across all product groups surveyed.

• Asian Journal of Atmospheric Environment
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• v.7 no.2
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• pp.65-71
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• 2013

Japanese cedar (Cryptomeria japonica) pollinosis is the most popular pollinosis in Japan. It has been reported that Cryptomeria japonica pollen allergenic species are suspended as fine particles in the urban atmosphere. These allergenic fine particles are responsible for inducing asthma by breaking into the lower respiratory tract. It has also been found that pollinosis symptoms on the sufferers appear mainly at night-time by the results from epidemiological studies. However, the exact reason for these phenomena is not yet clarified. In this study, the diurnal and nocturnal behaviours of Cryptomeria japonica pollen grains and their allergenic species in the urban area of Saitama city of Kanto Plain were investigated. Airborne pollen grains and allergenic Cry j 1 concentrations in total suspended particulate matter (TSP) were investigated at two sampling sites, a heavy traffic road (roadside site) and at the balcony of the $10^{th}$ floor of the Building of Research and Project of Saitama University (general urban site). The latter sampling site where located about 300 m away from the roadside site was used as a general urban site unaffected by automobile traffic. The airborne pollen counts were measured with a real-time pollen monitor. Cry j 1 particles were collected with two high volume air samplers, and these concentrations were measured by surface plasmon resonance method with a Biacore J system. The diurnal variation of the airborne pollen counts was similar to the trends of temperature and wind speed during the day-time; whereas its tendency with wind speed trend was not observed during the night-time. Airborne pollen counts were lower with northern wind than with southern wind because the pollen comes from the mountainous areas, and the mountains in the south are closer, about half the distance to the northern mountains. It is suggested that the peaks of airborne pollen counts during night-time in the sampling site occurred by transport of pollen grains released during day-time in the mountainous forest areas, located c.a. 100 km away from the sampling site. On the roadside site the allergenic Cry j 1 concentrations were higher than at the general urban site, nevertheless pollen grains counts were lower. These results suggested that worsening of pollinosis symptoms during night-time in urban area was caused by transport of pollen grains during day-time in the mountainous forest areas. Moreover, pollen allergenic species become different morphology from pollen grain at roadside site, and the subsequent pollen grains re-suspension by automobile traffic.

• 한국신재생에너지학회:학술대회논문집
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• 2010.06a
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• pp.58.1-58.1
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• 2010

In solar cell module manufacturing, single solar cells has to be joined electrically to strings. Copper stripes coated with tin-silver-copper alloy are joined on screen printed silver of solar cells which is called busbar. The bus bar collects the electrons generated in solar cell and it is connected to the next cell in the conventional module manufacturing by a metal stringer using conventional hot air or infrared lamp soldering systems. For thin solar cells, both soldering methods have disadvantages, which heats up the whole cell to high temperatures. Because of the different thermal expansion coefficient, mechanical stresses are induced in the solar cell. Recently, the trend of solar cell is toward thinner thickness below 180um and thus the risk of breakage of solar cells is increasing. This has led to the demand for new joining processes with high productivity and reduced error rates. In our project, we have developed a new method to solder solar cells with a laser heating source. The soldering process using diode laser with wavelength of 980nm was examined. The diode laser used has a maximum power of 60W and a scanner system is used to solder dimension of 6" solar cell and the beam travel speed is optimized. For clamping copper stripe to solar cell, zirconia(ZrO)coated iron pin-spring system is used to clamp both joining parts during a scanner system is traveled. The hot plate temperature that solar cell is positioned during lasersoldering process is optimized. Also, conventional solder joints after $180^{\circ}C$ peel tests are compared to the laser soldering methods. Microstructures in welded zone shows that the diffusion zone between solar cell and metal stripes is better formed than inIR soldering method. It is analyzed that the laser solder joints show no damages to the silicon wafer and no cracks beneath the contact. Peel strength between 4N and 5N are measured, with much shorter joining time than IR solder joints and it is shown that the use of laser soldering reduced the degree of bending of solar cell much less than IR soldering.