• Title/Summary/Keyword: equity

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A Study on the Financial Structure Effect Factor and Business Analysis of Ocean Shipping Companies (국적외항선사의 경영실태분석과 재무구조 영향요인에 관한 실증연구)

  • Lee, Sung-Yhun;Kim, Young-Dae;Ahn, Ki-Myung
    • Journal of Navigation and Port Research
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    • v.43 no.4
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    • pp.264-272
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    • 2019
  • In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.

The Longitudinal Patterns of Marital Satisfaction since Unemployment - Difference in Self-esteem by Patterns - (실업 이후 부부관계만족도의 종단적 변화유형에 관한 연구: 유형에 따른 자아존중감의 차이를 중심으로)

  • Nam, Seok In;Kim, Junpyo;Lee, Su Jin;Yun, Heejung
    • Korean Journal of Family Social Work
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    • no.58
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    • pp.97-122
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    • 2017
  • The purpose of this study was to identify the longitudinal patterns of marital satisfaction, characteristics of each pattern, influencing factors and the difference on self-esteem, among married couples who experienced unemployment. To achieve this, the 443 married couples, who were initially employed in the first year but unemployed in next 5 years were extracted from the $2^{nd}$ to $11^{st}$ waves of Korean Welfare Panel Study(KoWePS) data. The results showed that there are five patterns on marital satisfactions of couple who experienced unemployment: maintaining low-level, mid-level, continuous declining, rebound after sharp declining, and maintaining high-level. In addition to this, the groups that maintain the marital satisfaction showed higher self-esteem than the groups that showed positive or negative change in marital relationship. Based on these results, this study suggested political and practical intervention to maintain the satisfaction of marital relationship and their self-esteem in a high level.

Consideration of Improvement Plans about the Current Status and Problems of Administrative Disciplinary Action for the Ship Officers (해기사 행정처분 현황과 문제점 및 개선방안에 관한 고찰)

  • Na, Song-Jin
    • Journal of Navigation and Port Research
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    • v.43 no.3
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    • pp.153-159
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    • 2019
  • Marine accidents and legal violations result from mistakes and negligences of ship officers, deck officers and engine officers, during the ship navigation and lay days. Due to these accidents and violations, these officers are subjected to disciplinary actions for certification. The disciplinary action, namely certificate punishment is carried out by right rules, processes and equity. However, it is revealed that present situations are different from the principles. For the purpose of finding current states relating to certificate punishment, this study examines and analyses 737 punishment cases, accomplished in 'B' regional office of oceans & fisheries for 5 years from 2014 to 2018. The contents to be analyzed are reprimand agencies, certificate kinds, officers ranks at that time, disciplinary level, violated acts, annual reprimand state, punishment rule and it process, and disciplinary reduction levels. From such valuations various problems, such as disciplinary level deviations among laws, insufficient punishments rules, disciplinary certificate deviation, insufficient reprimand reduction rules, and lack function of crew administrative disciplinary council, are identified. Finally, methods to alleviate the problems identified will be proposed. This study, for the first time analyses the actual administrative disciplinary cases for ship officers'certificates and proposes improvement plans for its incorporation in Korea, This analysis will be useful in the examination of the study for the ship officers and making a plan for them.

Rent-seeking Analysis of the Cultural Voucher from the Viewpoint of Culture and Arts Management (문화예술경영 관점으로 본 문화이용권사업의 지대추구론적 분석)

  • Bae, Seung-Ju
    • Management & Information Systems Review
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    • v.38 no.3
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    • pp.151-170
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    • 2019
  • This study deals with the rent-seeking behavior that exist in cultural voucher from the viewpoint of culture and arts management. Art organizations open to consumers, producers and governments of the arts are dependent on the internal and external influence of an open system. Researcher has found rent-seeking in the course of introducing policies and legalization of the cultural voucher business which has been promoted in the direction of democratization of culture or cultural democracy. Cultural voucher business is a legal term. Although the government has increased the budget or tried to change the policies of the cultural voucher business, the implementation of the cultural voucher business has been opposed to the diversity of consumption and equity as the consumption of genre and the concentration of the capital region have increased. These results were structurally related to the process of legalization and rent-seeking behavior in bureaucracy. This study reaffirms that the efficient operation standard of the cultural voucher business is a balance between the choice of the beneficiary, the competition of the supplier, and access to the cultural voucher. And the theory of rent-seeking was applied as a criterion to analyze this balance. Thus, it is suggested that the criteria of evaluation and improvement to check the conservativeness of bureaucrats are needed to establish a legal system applied to the purpose of 'cultural democracy' and 'democratization of culture' ideology and to guarantee individual creativity and autonomy.

An Empirical Analysis of Influencing Factors on Success of Equity Crowdfunding: By Industry and Funding type (투자형 크라우드펀딩의 성공 영향 요인 실증분석: 업종과 유형별 분류를 중심으로)

  • Kim, Jong-Yun;Kim, Chul Soo
    • The Journal of Society for e-Business Studies
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    • v.24 no.3
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    • pp.35-51
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    • 2019
  • The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effects on the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfunding for invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfunding projects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived from the influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.

A study on the selection of candidates for public bases according to the spatial distribution characteristics Automated External Defibrillator in Daegu City (대구시 자동심장충격기 공간분포 특성에 따른 공공 거점후보지 선정 연구)

  • Beak, Seong Ryul;Kim, Jun Hyun
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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    • v.38 no.6
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    • pp.599-610
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    • 2020
  • The AED (Automated External Defibrillator) is not evaluated for spatial accuracy and temporal availability even if it is located within a building or a specific area that needed necessary to partition by spatial analysis and location allocation analysis. As a result of the analysis, the spatial analysis was performed using the existing public data of AED with applied the GIS location analysis method. A public institution (119 safety center, police box) was selected as a candidate for a public AED base that can operate 24 hours a day, 365 days a year according to the characteristics of each residential area. In addition, Thiessen Polygons were created for each candidate site and divided by regions. In the analysis of the service was analyzed regional in terms of accessibility to emergency medical services in consideration of the characteristics of AED, that emergency vehicles could arrive within 4 minutes of the time required for emergency medical treatment in most areas of the study area, but it did not areas outside of the city center. As a result, It was found that the operation of the AED base service center centered on vehicles of public institutions is effective for responding to AED patients at night and weekend hours. 19 Safety Center under and police box the jurisdiction of Daegu City to establish an AED service center for public institutions, location-based distance, attribute analysis, and minimization of overlapping areas that the method of using a vehicle appeared more efficient than using the existing walking type AED.

Changes in De Facto Population around Gyungui Line Forest Park based on Surrounding Land Uses under COVID-19 (코로나19에 따른 경의선 숲길 주변 토지이용 별 생활인구 변화)

  • An, Jooyeon;Kim, Hyungkyoo
    • Land and Housing Review
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    • v.13 no.4
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    • pp.73-89
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    • 2022
  • With the spread of COVID-19, the role of parks has been emphasized. Under the quarantine guidelines, including social distancing, people are visiting parks as a safe place. In line with these changes, parks need to be studied as pandemic adaptation measures according to their physical and location characteristics. This study aims to explore the potential of linear parks with accessibility and pass way functions based on the characteristics of surrounding land uses. The case study area was selected from Yeonnam-dong to Yeomni-dong of the Gyeongui Line Forest Park, and the area was divided into 4 sections based on the administrative boundary and surrounding land uses. Multiple regression models were adopted in each section using the total number of de facto population as a dependent variable and factors affecting external activities including COVID-19 as independent variables. The results show that first, the more diverse the interaction between commercial facilities and linear parks, the greater the impact of the pandemic. Second, where various commercial facilities are concentrated people respond more sensitively to short-term weather changes than seasonal ones. This study indicates that there are differences in the use of linear parks according to the surrounding land uses. In addition, it suggests that the linear park has potential as a means to overcome the Pandemic crisis of the city and to increase equity in access to green areas.

A Study on the Improvement Approaches of Immigration Workers' Legal System to Introduce Foreign Workers according to change the Population Structure (Low Fertility and Aging) (인구구조 변화(저출산·고령화)에서 외국인력 도입을 위한 이주노동자의 법제도적 개선방안 연구)

  • Lee, Chuck-He;Noh, Jae-Chul
    • Industry Promotion Research
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    • v.6 no.1
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    • pp.79-86
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    • 2021
  • Due to the change in the demographic structure, the problem of low birth rate and aging population leads to a serious decrease in human resources, and the necessity of introducing foreign workers is increasing. This study believes that the introduction of foreign workforce is the most effective to expand the working-age population in the era of low birthrate and aging, when demographic changes begin in earnest, and to this end, it sought to devise measures to improve the legal system for migrant workers. As a result of this study, first, the legal system for migrant workers should be unified and improved. It is necessary to establish or unify management agencies so that the 「Immigration Control Act」 and the 「Labor Act」 can establish a cooperative relationship. Second, the 「Immigration Control Act」 should be revised to make it easier for migrant workers to find employment. It is necessary to positively review the employment permit system and acquisition of nationality. Third, there should be no equity or discrimination against migrant workers. Under the principle of mutual benefit, employers and migrant workers should not be equally discriminated against. Fourth, the social insurance system must be added to the legal system of migrant workers. Therefore, the legal system should be reorganized so that migrant workers are not discriminated against in various insurance systems including the four major social insurance systems. In conclusion, the problem of low birthrate and aging population has become a serious social problem due to changes in the demographic structure, and the decrease in the possible generation population has reached a level of concern. The importance of migrant workers' employment and work environment is increasing. Nevertheless, related legal and institutional problems still exist, and measures to improve the legal system for migrant workers are needed.

A Study on the Evaluation of Equality and the Direction of Location Selection for the Concert Hall in Jeju (제주지역 문화행정과 예술경영의 영역설정과 체계정립에 관한 연구)

  • Ko, Hye-Young;Hwang, Kyung-Soo
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.22 no.3
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    • pp.560-567
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    • 2021
  • The purpose of this study is to examine the concepts of cultural administration and art management, their context, and elements that each concept pursues, and to establish the domains and systems of cultural administration and art management in Jeju. Seven values were selected through the consideration of commonalities and differences and previous studies, and sub-indicators of each value were determined. Factors were analyzed using the AHP method. Cultural administration is based on the areas of publicity, equity, and transparency, while art management is based on productivity, publicity, and responsiveness. Cultural administration needs to focus on a system for the preservation and utilization of local culture, co-evolution of culture, and expansion of culture and arts education. Art management needs to focus on the level of achievement of goals, the level of output versus input, and the system for preserving and utilizing local culture. In addition, it was found that there is a need to establish a system in Jeju with a common aim of the co-evolution of culture and preservation and the utilization of local culture.

Singapore 2017: Challenges and Prospects in the Post-Lee Kuan Yew Era (싱가포르 2017: 포스트-리콴유 시대의 도전과 과제)

  • KANG, Yoonhee;CHOI, Ina
    • The Southeast Asian review
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    • v.28 no.1
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    • pp.83-120
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    • 2018
  • For Singapore, 2017 was an uneasy year. The presidential election was fraught with controversy since the revised Presidential Election Act allowed only one candidate to be eligible for the election. The bitter feud between Prime Minister Lee Hsien Loong and his siblings shocked many Singaporeans. Succession planning for the next top leadership is still veiled in obscurity. The anti-globalization trend and the increasing pressure to raise the tax have become major challenges for Singapore's economy to overcome. China's continuous diplomatic pressure has called into the question Singapore's pragmatic foreign policy. Although its relations with China were back to normal, Singapore, the ASEAN chair in 2018, is still facing intractable problems in safeguarding ASEAN centrality in the growing US-China rivalry. In the meantime, Singapore has pursued its diversity and equality, heading toward a more matured multi-racial and multi-cultural society in 2017. The first female president, Halimah Yacob, served as a symbolic epitome of Singapore's emphasis on diversity and harmony among different ethnic groups and minorities. This great milestone, however, has largely been questioned by Singaporeans, as it seemed to be a political gesture that only utilized Halimah's double minority in the level of ideologies. The election of the Malay president has led Singaporeans to think about the real equity and equality among minorities, while strongly motivated to move toward a more inclusive society. In 2018, Singaporean leaders will try to resolve many challenging problems by reaffirming leadership succession planning, which is expected to lead Singapore to pursue a more integrated society.