• Journal of Korean Society of Industrial and Systems Engineering
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• v.2 no.2
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• pp.115-124
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• 1979

The purpose of this study is theoretical research on risk. The research is focused on systematic risk. Chapter I is objective of this study, Chapter II includes definition and measurement of risk. Chapter III introduces attitudes toward risk and classification of risk. Chapter IV discusses Portfolio theory, Capital market line and Shape and Lintner model The objective of firm is assumed to maximize its value. In a world of uncertainty, value is not determined by earnings alone, the degree of risk involved with the streams of earnings. Financial manager has to consider the risk in order to maximize the value of firm. Total risk can be classifier into two parts : Systematicrisk and unststematic risk by Sharpe. Systematic risk is important because investors can't diversify it. Blume and Jensen measured f and they testified that the f is stationary over the time For further study, Korean stock mark has to take emperical study about $\beta$ and its stationarity.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.13 no.21
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• pp.29-41
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• 1990

An assessment of risk in industrial and urban environments is essential in the prevention of accident and in the analysis of situations which are hazardous to public health and safety. The risk imposed by a particular hazard increases with the likelihood of occurence of the event, the exposure and the possible consequence of that event. In a traditional approach, the calculation of a quantitative value of risk is usually based on an assignment of numerical values of each of the risk factors. Then the product of the values of likelihood, exposure and consequences called risk score is derived. However vagueness and imprecision in mathematical quantification of risk are equated with fuzziness rather than randomness. In this paper, a fuzzy set theoretic approach to risk analysis is proposed as an alternative to the techniques currently used in the area of systems safety. Then the concept of risk evaluation using linguistic representation of the likelihood, exposure and consequences is introduced. A risk assessment model using approximate reasoning technique based on fuzzy logic is presented to drive fuzzy values of risk and numerical example for risk analysis is also presented to illustrate the results.

• Proceedings of the Korea Environmental Mutagen Society Conference
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• 2004.05a
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• pp.140-140
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• 2004

• Journal of Korean Society for Quality Management
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• v.41 no.3
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• pp.465-474
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• 2013

Purpose: To provide a variety of stable military supplies, risk should be avoided or removed. This paper aims to provide an objective method of risk assesment for risk matrix to evaluate risk level. Methods: According to previous results of risk assesment through risk matrix, some parameters and probability density functions, which include characteristics of military supplies, are selected and Risk matrix is modelled based on that. Results: Results show that a proposed method can evaluate objectively risk level through the stochastic modelling and provide well-balanced risk assessments by categorizing into 3 levels such as high, middle and low level risk. Conclusion: A current risk assessment method includes substantial subjectivity of risk assessment and as a problem about military supplies comes up, we can not show any appropriate evidences for decision of risk assessment. We propose an objective scheme employing stochastic modelling with parameters and probability density functions.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.27 no.2
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• pp.47-53
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• 2019

The development of the aviation industry and the changes in the military operation mission environment are demanding more long - distance operation (long - time flight), and such a flying environment is a risk factor for fatigue - related accidents. For the aviation related organizations such as ICAO and FAA, fatigue risk management system (FRMS) are applied along with flight time restriction regulations to prevent fatigue related accidents. The most important process in FRMS is fatigue risk management. Fatigue risk management systematically manages fatigue through scientific fatigue risk data collection and fatigue risk assessment. The purpose of this study is to applicate the assessment of scientific fatigue risk management to pilots of airplanes engaged in long flight. We reviewed the current state of risk management and FRMS through previous research. We also developed fatigue risk management indicators and examined the validity of internationally recognized fatigue risk data collection methods and fatigue risk assessment tools. There are 134 mission (flight) data used for development. In order to verify the indicators, the fatigue risk score between the items was assigned through pair-wise comparison. In addition, the verify test results were normalized.

• Journal of the Korean Society of Clothing and Textiles
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• v.38 no.5
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• pp.690-704
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• 2014

This study examined the risk perception in internet shopping by Chinese and analyzed the effects of risk perception on internet word-of-mouth acceptance and transmission. This analysis was conducted with data collected from 373 Chinese individuals in their 20s. Data were analyzed with factorial analysis, cluster analysis, ANOVA, multiple regression analysis, Chi-square test, and Cronbach's ${\alpha}$ using SPSS 18.0. The results were: 1) The factor analysis of risk perception extracted four factors: fashion/social psychological risk, product risk, transaction risk, and economic risk. The cluster analysis classified them into: Group with low-risk, Group with high-risk, Group with economic risk, and Group with medium-risk. 2) Group with high-risk and Group with economic risk had a higher word-of-mouth acceptance than other groups. The Group with a high-risk had more word-of-mouth transmission than other groups. 3) It was found that when word-of-mouth was accepted, the factual information about fashion products (size and material) was most referred to, and that the overall evaluation of satisfaction and dissatisfaction was most conveyed when word-of-mouth was conveyed. 4) Internet word-of-mouth acceptance was affected by product risk, economic risk, and transaction risk. Internet word-of-mouth transmission was affected by economic risk, and fashion/social psychological risk, product risk, and transaction risk.

• Journal of Fashion Business
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• v.9 no.3
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• pp.22-36
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• 2005

This research is to classify psychological risk perceptions in purchases process at counterfeit at fashion luxury brands, into a risk perception on purchase activity itself and a risk perception on the post-purchase situation, and to analyze types and characteristics at risk reduction behaviors to reduce each risk perception. In this research a qualitative method was employed, and research-related data were collected and analyzed through in-depth interviews. Results were shown that risk reduction behaviors at psychological risk perception on purchase activity itself included rationalization of purchase, accompanied purchase, reduction and discontinuance of purchase, and that risk reduction behaviors of psychological risk perception on the post-purchase situation included information search, establishment of selection criteria, establishment of marginal limit, selective purchase, planned and compared purchase, and reduction and discontinuance of purchase. Previous researches suggested brand loyalty, selection of famous brands, utilization of information agents by marketers, pre-purchase usage and guaranteed purchase, but these risk reduction methods were not utilized, this probably being interpreted as a result of characteristics of counterfeit. In addition, risk reduction behavior of one type tended to reduce risk perception of several other types, and risk reduction behaviors of various types were utilized to reduce a certain type's risk perception. Not only types of risk perception but also levels of risk perception appeared to have exerted influence to risk reduction behaviors.

• Journal of the Korean Society of Safety
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• v.33 no.2
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• pp.124-131
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• 2018

In consideration of limitations of the classic economic approach to risk evaluation and the psychometric analysis of risk perception, this study applies a facilitated modeling technique to a group of college students in Korea. In this group activities, researchers did not provide a pre-selected list of risk items. Instead, 35 participants had group discussions to generate 63 risk items, to rate their risk level and to evaluate their characteristics in terms of the level of knowledge and dreadfulness. This study also analyzes the influence of mass media, online news papers in particular, on risk perception by counting the number of news articles covering key word corresponding risk items generated. The results show that there are significant differences between the rank order of risk items generated by students and that of statistical or objective risk. Psychometric analyses find that the levels of knowledge and dreadfulness have meaningful correlations with risk level. A well known or a dreadful risk demonstrates a high level of risk. Correlation analyses of media coverage and the risk level also re-confirms strong positive relations. The larger number of news articles a risk issue was covered by, the higher level of risk it showed. It means that college students generated risk items on the basis of what they were exposed by media. The role of mass media in risk perception and the importance of risk communication in risk evaluation are underlined. Implications of research findings and future research are discussed as well.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.3
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• pp.302-310
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• 2018

Despite the accident rate for fishing vessels accounts for 70% of all maritime accidents, few studies on such accidents have been done and most of the them mainly focus on causes and mitigation policies to reduce that accident rate. Thus, this risk analysis on sea accidents is the first to be performed for the successful and efficient implementation of accident reducing measures. In risk analysis, risk is calculated based on the combination of frequency and the consequence of an accident, and is usually expressed as a single number. However, there exists uncertainty in the risk calculation process if one uses a limited number of data for analysis. Therefore, in the study we propose a probabilistic simulation method to forecast risk not as a single number, but in a range of possible risk values. For the capability of the proposed method, using the criteria with the ALARP region, we show the possible risk values spanning across the different risk regions, whereas the single risk value calculated from the existing method lies in one of the risk regions. Therefore, a decision maker could employ appropriate risk mitigation options to handle the risks lying in different regions. For this study, we used fishing vessel accident data from 1988 to 2016.

• Journal of the Korean Society of Safety
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• v.29 no.1
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• pp.80-85
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• 2014

A survey of risk perception in South Korea was conducted in 2007 to evaluate relative riskiness of typical industrial and technological risks. This article summarizes the characteristics of risk perception using psychometric analyses. The survey with a sample size of 1,194 reviews the perceived level of 25 risk items in the areas of transportation, chemicals, environment, industry, nuclear power generation, and newly-introduced risks. Six categories of risk identified by a factor analysis show that the level of perceived risk does not correspond to the statistical level. Psychometric analyses including voluntariness, severity, effect manifestation, exposure pattern, controllability, familiarity, benefit and necessity demonstrate that voluntary, familiar and immediate risks are perceived as less risky than involuntary, unfamiliar and delayed ones. Risk communication is critical in reducing the discrepance between objective and subjective level of risk. However, the amount of risk information does not always justify a successful risk communication. A safety policy, risk communication strategy in particular, should take into account diverse dimensions of risk reviewed by psychometric analyses in the study. Social policy toward safety can be improved by integrating policy, human, and social factors as well as technological advances.