• Asia-Pacific Journal of Business
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• v.14 no.4
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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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• v.28 no.1
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• pp.219-231
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• 2006

This paper presents a dynamic analysis of the interaction between incumbent firms and successful new entrepreneurs, that can provide R&D incentives when innovations are cumulative/sequential. It is argued that the insights of the basic model extend to varying market structures and regulatory environments.

• Journal of Service Research and Studies
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• v.6 no.3
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• pp.1-15
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• 2016

Despite that Korea has tried radical efforts in the global flow of regulatory reform in the past twenty years, the result was not radical at all, but rather disappointing. One examines the possibility of paradigm shift in regulatory reform based on new theoretic perspectives. Regulatory reform, one argues, is not just a neo-liberal approach to cut off overflowing regulation. It is a highly conflictual struggle in state order to move from industrial age paradigm to service age paradigm. In the process of the great shift states become integrated into the world of life constructed by the exercise of civil rights. The relation between the civic socio-economic life and the state apparatus became totally different. Past effort for deregulation missed this point without correct recognition of the role of civil freedom and rights in service economy. One treats three typical forms of regulation whereby conventional rules and regulations effectively damper the development of services: reciprocal perspective in contract management, industrial mind in urban and spaces design, and old way of human capital management. According these analyses a new initiative of regulatory reform is proposed to take place at the National Assembly.

• BMB Reports
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• v.40 no.6
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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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• v.22 no.3
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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.

• The Journal of Engineering Geology
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• v.24 no.4
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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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• v.14 no.3
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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.

• Korea Trade Review
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• v.46 no.1
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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.

• Analyses & Alternatives
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• v.7 no.1
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• pp.45-81
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• 2023

This paper examines how Korean economy has been asymmetrically changed after economics crises. The three crises during the last three decades, covid19, global financial crisis, and currency crisis, have deteriorated the economic inequalities of Korea in various ways. First, manufacture industry has been affected larger by economic crises, but recovered fast. The shocks in service sector were small but persist longer or were permanent. Second, although the covid19 spreaded out more to the capital area, the negative economic shock was greater in the non-capital region. That is, the crisis in the capital region transferred or amplified to the other region. Third, the inequality between permanent and temporary workers became worse after crises. Fourth, the sluggish small business growth problem became more serious during the covid19. In order to overcome the industrial and labor inequality, it is desirable to government strategy for economic development from focusing on high value-added industry to a balanced growth for all industry and region. To this end, governemt support should be asymmetric. That is, it should focus on indirect support such as regulatory reforms in the high value-added and private-led industries, and, for small business related service sector and non-capital region which have had limited opportunity of renovation and growth, the more active effort of government and government-driven gowth strategy would be desirable.

• World Technopolis Review
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• v.1 no.3
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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.