• Management & Information Systems Review
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• v.31 no.3
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• pp.161-184
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• 2012

This paper is intended to compare the stock market performances of the reorganized firms of South Korea with those of the United States and to analyze the relationship between the performances and the accounting informations of those firms. This paper derives two major implications. First, the stock performances of the reorganized firms of the two countries show very different time profiles. As time goes by after completion of reorganization, the reorganized firms of the US shows significant improvements in stock performances, whereas those of South Korea deteriorates, which means that the institution of reorganization of South Korea has serious problems in sustainablity. Second, in the long-run, any accounting variable cannot affect significantly the stock performances in both countries. Inspite that this paper is limited to the comparison of only two countries, still it can be concluded that the institution of reorganization of South Korea has serious problems in sustainability, and accounting improvements of the reorganized firms cannot provide full credibility in the stock market.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.2
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• pp.801-810
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• 2013

The main purpose of this study is to reframe sustainability or sustainable development concept in the field of planning in consideration of climate change and natural hazards. The new concept is expected to provide a theoretical foundation for upcoming hazard mitigation measures addressing climate change. The first and main argument of the new concept is that environmental protection should be inclusive enough to address urban (or community) security from current natural hazards. The second is that the balance between structural and nonstructural mitigation measures is critical to cope more effectively with extreme natural hazards in the era of climate change and also with conflicts driven by three goals of sustainability--environmental protection, economic development, and social justice. The following studies, based on this new concept of sustainablity, are expected (1) to address new participation methods for the conflict resolution, (2) to explore detailed and substantive planning strategies and creative technical and institutional solutions for environmental protection, natural hazard mitigation, and conflict resolution. Two of APFM(the Associated Programme on Flood Management)'s three natural hazard risk criteria, Exposure and Vulnerability, may guide the exploration.