• 아태비즈니스연구
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• 제14권4호
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• pp.275-287
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• 2023

Purpose - The purpose of this study is to analyze the relationship between the issuance amount of subordinated bonds and firm value, aiming to determine how subordinated bonds are evaluated in the capital market. Design/methodology/approach - To achieve the research objective, this study empirically analyzes all samples of domestic listed insurers that have issued subordinated bonds. Through such empirical analysis, the study aims to confirm the value relevance of the recognized debt and examine how subordinated bonds are reflected in the firm valuation of insurers. Findings - The research finding indicates that subordinated bonds issued by insurers, despite being recognized as debt, did not show a significant relation with firm value. This result suggests a divergence from the typical characteristics of debt, reflecting the distinct evaluation of debt recognized through the issuance of subordinated bonds(subordinated debt) and general debt in the capital market. In this regard, additional investigation into the value relevance by categorizing debt into general debt and subordinated debt revealed a significant difference in the value relevance of the two types of debt. Research implications or Originality - These research findings indicate that the market evaluation of subordinated debt takes into consideration the economic attributes of the subordinated debt. Furthermore, this evaluation is interpreted to account for the regulatory consideration that recognizes subordinated debt as available capital for supervisory purpose.

• KDI Journal of Economic Policy
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• 제28권1호
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• pp.219-231
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• 2006

본 논문은 기업의 혁신이 순차(누증)적으로 일어날 때, R&D 인센티브를 제공할 수 있는 현존 기업들과 성공적인 신임 기업가들의 관계를 동태적으로 분석한 것이다. 본고에서는 기본모델이 다양한 시장구조와 규제환경으로 확대(적용)될 수 있다고 주장한다.

• 서비스연구
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• 제6권3호
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• pp.1-15
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• 2016

전 세계적인 규제 개혁의 흐름 속에 한국도 20년 이상 규제개혁을 위해 노력해 왔다. 하지만 이러한 노력에도 불구하고 실질적 진전 없이 좌절과 무력감이 커가고 있다. 현 시점에서 필요한 것은 규제개혁을 큰 틀 속에서 보고 그 이론적 바탕과 개혁의 패러다임을 새로 마련하는 것이다. 이 글은 규제개혁을 행정개혁을 넘어선 국가의 틀을 재구축하는 관점에서 정의 하고 그 이론적 토대를 탐색한다. 규제개혁은 단순한 신자유주의 정책과 논리의 산물이 아니라 21세기 구성주의적 국가의 토대를 이루는 시민적 자유와 그 행사를 가로막는 낡은 산업사회 국가의 틀로부터 벗어나는 과정이다. 산업사회에서 서비스 사회로의 이행은 그 과정은 국가 행정관료제와 사회경제적 생활세계 즉 시장과 시민사회 간의 관계에 대한 전반적 재정립을 수반한다. 그 동안 규제개혁은 바로 이러한 방향감각이나 역사의식의 빈곤으로 인해 가로 막혀 왔으며 특히 시민적 자유에 대한 근대적 인식이 빈곤한 한국의 현실 속에서 규제개혁은 더욱 그 방향 감각을 잃고 좌초되어 왔다. 21세기 서비스사회에서의 국가 기능은 시장관리 물적자본관리 인적자본관리의 세 측면에서 근대산업사회의 틀을 완전히 벗어난다. 이 글은 서비스 발전을 위한 규제개혁의 핵심과제를 이 세 분야로 범주화하고 각각의 내용을 분석적으로 논의한 후 이를 종합하여 국회중심의 규제개혁 방법론을 제안하고자 한다.

• BMB Reports
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• 제40권6호
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• pp.986-1001
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• 2007

Cold acclimation improves freezing tolerance in plants. In higher plants, many advances have been made toward identifying the signaling and regulatory pathways that direct the low-temperature stress response; however, similar insights have not yet been gained for simple nonvascular plants, such as bryophytes. To elucidate the pathways that regulate cold acclimation in bryophytes, we used two PCR-based differential screening techniques, cDNA amplified fragment length polymorphism (cDNA-AFLP) and suppression subtractive hybridization (SSH), to isolate 510 ESTs that are differentially expressed during cold acclimation in Physcomitrella patens. We used realtime RT-PCR to further analyze expression of 29 of these transcripts during cold acclimation. Our results show that cold acclimation in the bryophyte Physcomitrella patens is not only largely similar to higher plants but also displays distinct differences, suggests significant alteration during the evolution of land plants.

• IMMUNE NETWORK
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• 제22권3호
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• pp.21.1-21.21
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• 2022

As far the current severe coronavirus disease 2019 (COVID-19), respiratory disease is still the biggest threat to human health. In addition, infectious respiratory diseases are particularly prominent. In addition to killing and clearing the infection pathogen directly, regulating the immune responses against the pathogens is also an important therapeutic modality. Sirtuins belong to NAD+-dependent class III histone deacetylases. Among 7 types of sirtuins, silent information regulator type-1 (SIRT1) played a multitasking role in modulating a wide range of physiological processes, including oxidative stress, inflammation, cell apoptosis, autophagy, antibacterial and antiviral functions. It showed a critical effect in regulating immune responses by deacetylation modification, especially through high-mobility group box 1 (HMGB1), a core molecule regulating the immune system. SIRT1 was associated with many respiratory diseases, including COVID-19 infection, bacterial pneumonia, tuberculosis, and so on. Here, we reviewed the latest research progress regarding the effects of SIRT1 on immune system in respiratory diseases. First, the structure and catalytic characteristics of SIRT1 were introduced. Next, the roles of SIRT1, and the mechanisms underlying the immune regulatory effect through HMGB1, as well as the specific activators/inhibitors of SIRT1, were elaborated. Finally, the multitasking roles of SIRT1 in several respiratory diseases were discussed separately. Taken together, this review implied that SIRT1 could serve as a promising specific therapeutic target for the treatment of respiratory diseases.

• 지질공학
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• 제24권4호
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• pp.609-613
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• 2014

The Korean Peninsula, located at the southeastern tip of the Eurasian Plate, is known to be tectonically stable, and no critical evidence has yet been found that would override the safety design of nuclear facilities in South Korea. Because a nuclear power plant, like other major social overhead capital facilities, could cause great damage to both the environment and society through an unexpected tectonic event, even one of extremely low probability, like the Fukushima accident, a defense-in-depth safety approach is required in geological and geotechnical site safety evaluation for nuclear projects. This paper introduces the regulatory procedures that are in place to confirm nuclear site safety and site monitoring (e.g., earthquakes and groundwater) systems applied to nuclear facilities in order to reduce inherent uncertainties within the site safety review of geological and seismological issues related with a NPP project.

• International Journal of Internet, Broadcasting and Communication
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• 제14권3호
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• pp.270-275
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• 2022

Examining whether the relationship between proprietary information cost and management's disclosure decision is also valid for domestic companies is expected to provide meaningful implications for investors and regulatory authorities. However, there are no domestic studies related to proprietary information costs so far. This study examines whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. This study used the measurement quality of disclosure to examine whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. As a result of empirical analysis, it was confirmed that there is a negative relationship between proprietary information cost and the quality of disclosure. This suggests that management tends to make disclosure decisions in consideration of not only the benefits of disclosure but also proprietary information costs resulting from disclosure in order to maximize corporate value. These findings are expected to have significant implications for investors and related policy authorities.

• 무역학회지
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• 제46권1호
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• pp.39-57
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• 2021

Developing countries are in competition to attract ODA and FDI in an effort to overcome poverty and development. This study tries to identify factors influencing the distribution of ODA and FDI resources and analyzes if ODA and FDI are in complementary relationship. We use a panel data for 53 African countries during early and middle of 2000 period. Factors affecting the ODA distribution include per capita GDP, physical infrastructure, good institutions of receiving countries. FDI was found to be positively affected by market size, trade openness, human capital accumulation, business-friendly regulatory environment. The impact of ODA is believed to be more effective and sustainable if it has a complementary relationship with FDI. Our result, however, did not confirmed the complementarity relation between the two.

• 분석과 대안
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• 제7권1호
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• pp.45-81
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• 2023

본고에서는 코로나 19를 비롯한 경제위기가 우리 경제의 불균형 구조에 미치는 영향을 거시적 관점에서 평가해 보았다. 외환위기, 글로벌 금융위기, 코로나 19 등 최근 20여년간 국내에서 발생하였던 세 건의 경제위기는 우리에게 다음과 같은 과제를 주었다. 첫째, 제조업은 서비스업에 비해 충격은 크지만 빠르게 회복하였던 반면 서비스산업은 회복이 더디거나 위기 이전수준으로 회복되지 못하는 모습을 보였다. 따라서 서비스산업의 비중이 여타 선진국에 근접하고 충격에 강건하도록 경쟁력을 강화한다면 위기에 대한 내성을 크게 개선할 수 있다. 둘째, 수도권 중심의 1극 체제로 인해 수도권의 위기상황이 지역경제로 전이 또는 증폭될 위험이 크다. 수도권을 중심으로 확산되었던 2020년 코로나 상황에서도 실제 마이너스 성장폭은 비수도권 지역이 더 컸다는 점은 상황의 심각성을 대변한다. 이의 극복은 기존의 균형발전적인 접근으로는 어려우며 파격적인 비수도권 중심의 국토발전 전략의 전환이 필요하다. 셋째, 넷째 경제위기는 정규직과 비정규직간 불균형을 더욱 심화시키고 충격의 지속성도 매우 큰 것으로 평가된다. 넷째 코로나 19로 가장 피해가 컸던 소상공업에 대한 전략의 전환이 필요하다. 단순한 소상공 보호 및 애로 지원 정책은 우리나라 전체 산업전략 측면에서도 바람직하지 않다. 위기상황에서 나타난 문제점을 해결하고 제 3의 산업 성장 도약을 이끌기 위해 향후 산업 및 성장 전략은 기존의 고부가가치 집중 전략에서 국가전체의 혁신과 성장을 추구하는 전략으로 전환할 필요가 있다. 이를 위해서는 정부의 성장전략도 산업별로 맞춤형 전략을 취하는게 바람직하다. 민간의 경쟁력이 높은 고부가가치 산업은 규제개혁 중심으로 행정 지원을 하는게 바람직하나 혁신의 경험이 미흡한 일부 서비스 및 소상공 관련 산업은 시장에 맡기기 보다는 보다 적극적이고 주도적인 정부의 역할이 필요하다. 또한 경기침체기와 경제위기에 노동시장의 불균형을 완화시키기 위해서는 매우 열악한 자동안정화 기능을 강화시키는 것이 필요하다. 국토 발전 전략은 형평성에 치중되었던 균형발전 전략에서 벗어나 비수도권에 새로운 수도권 수준의 초광역 경제권 건설을 목표로 하여 자원을 집중하는 전략을 추구하는 것이 바람직하다. 이를 통해 미래의 한국 경제는 제조업과 서비스업을 아우르며 전 국토에서 혁신이 이루어지는 '모두의 성장'을 달성할 수 있을 것이다.

• World Technopolis Review
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• 제1권3호
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• pp.192-205
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• 2012

Globalization has fuelled the desire for simplicity and flexibility in rules and processes within nations. de Soto (2000) calls for the simplification of rules to enable people to join the formal economy. Friedman (2005) echoes the need for simpler rules, to attract business and capital. Market-based approaches to governing have been adopted in many nations due to globalization. Recent developments demonstrate that such approaches fail. Globalization may lead to impoverishment in the absence of proper forms of governance (Cooney 2000). That is why it has the tendency to become a "race to the bottom." Regulatory measures can be costly, and the costs of doing business are uneven across nations. This unevenness is being used as a comparative advantage. Others call this regulatory competition (Smith-Bozek 2007) or competitive governance (Schachtel and Sahmel 2000), which is similar to the model of Charles Tiebout. Collaborative governance is an approach that governments could use in lieu of the competitive method. Mechanisms that enable stakeholders to exchange information, harmonize activities, share resources, and enhance capacities (Himmelman 2002) are needed. Philippine public policy encourages a shift in modes of realizing labor market governance outcomes from command to collaboration (Sale and Bool 2010B; Sale 2011). Is labor market governance and regional development in the Philippines collaborative? Or is the opposite - competitive governance (Tiebout model) - more evident? What is the dominant approach? This preliminary research tackles these questions by looking at recent data on average and minimum wages, wage differentials, trade union density, collective bargaining coverage, small and bigger enterprises, employment, unemployment and underemployment, inflation, poverty incidence, labor productivity, family income, among others, across regions of the country. The issue is studied in the context of legal origins. Cultural explanations are broached.