• 한국경영과학회지
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• 제41권1호
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• pp.55-69
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• 2016

In response to drastic environmental changes, companies have been continuously rebalancing their resources and capabilities to sustain their competitive status or to survive difficult times. The aim of this study is to analyze the effect of sudden environmental changes on the competitive status of a firm and to identify the internal factors that differentiate sustainer and non-sustainer groups. To achieve this goal, we selected 85 representative IT and non-IT companies from the S&P 500 companies and investigated them with respect to the change in their five-year competitive status since the 2008 global financial crisis. As a concrete performance measure, the concept of perceived competitive status (PCS) was introduced, and four distinct PCS categories were identified by using the stock price changes during the selected period. The four distinct PCS categories are "sustaining," "drifting," "deep sunken," and "bouncing back." Discriminant analysis was performed on these four distinct PCS categories. The empirical study conducted showed that revenue and cost efficiency are the most discriminating factors, especially in the economic recovery period. In particular, stronger financial liquidity was observed in high-performing "bouncing back" companies than in the other category companies.

• 한국병원경영학회지
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• 제4권2호
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• pp.162-191
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• 1999

This study was conducted to establish finance performance evaluation model for physicians in each clinical department, by using factors which determines financial outcome(performance) in each clinical department The ultimate aim of study is to develop effective performance-based pay system for physicians. The system, by motivating physicians, should increase their productivity. To do so, it is critical to establish finance performance evaluation model to achieve final goal of this study. 232 private hospitals were chosen from 693 hospitals which were subject to hospital survey by the Korea Institute of Health Services Management and their revenue and expense-related data during 1997 were collected. By adopting multiple regression method, the study shows that the evaluation model for each clinical department was statistically significant. The study suggest the effective performance-based pay system based on financial performance of each clinical department. The pay system includes the level of compensation, the way of how to allocate profits to each department, and criteria whether the compensation should provide or not. In conclusion, the study has following implications. First, the study suggest finance performance evaluation model for each clinical department Second, the study suggest guidelines and plans to establish qualitative measure of financial performance in each clinical department. Third, the study suggest that adopting performance-based pay for physicians could be impetus to achieve organizational goal by motivating them with fair compensation.

• The Journal of Asian Finance, Economics and Business
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• 제9권6호
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• pp.183-194
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• 2022

The objective of this article is to assess the impact of corporate social responsibility (CSR) implementation on Corporate Brand Value (CBV) and Corporate Financial Performance (CFP). At the same time, the article examines the mediated role of CBV on the relationship between CSR implementation and CFP. In-depth interviews and observation techniques were used in this article on 4 experts to collect qualitative information. Quantitative analysis was based on primary data obtained from 454 employees working at enterprises providing Bancassurance services. The article uses various models of Cronbach's Alpha coefficient, Exploratory Factor Analysis (EFA), Confirmatory Factor Analysis (CFA), and Structural Equation Analysis (SEM) using SPSS 22.0 and AMOS 20.0 software. In addition, a 5-point Likert scale is used to measure observed variables. Research results show that CBV plays an intermediate role in the relationship between CSR implementation and CFP. At the same time, the implementation of CSR toward communities, customers, and workers directly impacts CBV and CFP. The article draws a new conclusion; there is no relationship found between the implementation of CSR and CFP. The result proposes implications for the state and Bancassurance service providers to develop and implement CSR-related policies and activities to enhance their brand value and financial performance.

• 분석과 대안
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• 제4권1호
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• pp.5-37
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• 2020

In the 2000s, financial exclusion of low-income people emerged as a major social problem in South Korea. Microcredit business was first introduced by NGOs to help the poor overcome poverty while the Korean government soon chose to initiate microcredit policies to assist financially marginalized low-income people as a key policy measure to alleviate social inequality and revitalize economy. Unlike the initial expectation that state intervention in microcredit industry would be more effective, the outcome has been much less impressive. This paper aims to examine the poor performance of state-led microcredit in South Korea during the period of Lee Myung-bak administration by employing the concepts of state autonomy and capacity. It finds that the state autonomy, a key characteristic of a developmental state, was high in the sense that the funds had been raised in the face of strong resistance from private financial institutions. Lack of state capacity such as low technocratic expertise and politicization of microcredit policy, however, turned out to be a major stumbling block to the state-led microcredit in South Korea. This study shows that although the Korean government still has strong willingness to intervene in the financial market even in the face of interest groups' opposition, the eventual success of state action largely depends on its capacity to effectively implement financial policies.

• The Journal of Asian Finance, Economics and Business
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• 제10권2호
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• pp.321-331
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• 2023

The radical Coronavirus (COVID-19) has swiftly unfolded everywhere globally; it continues to unfold uncontrollably and critically, affecting all economies. The pandemic is not only a health issue but also has distinct effects on the global economy and enterprises. The impact of this novel Coronavirus is also well-documented in the financial sector. This study aims to investigate the impact of COVID-19 on corporate governance and banks' financial performance. Moreover, this study also examines the impact of corporate governance on banks' performance in Bangladesh. The study uses return on equity, return on assets, non-performing loans, return on investment, and earnings per share to measure the performance of the banks. And characteristics of corporate governance are measured by board size, number of independent directors on the board, number of female directors on the board, number of board meetings, and number of members in the audit committee. The study uses descriptive statistics, correlation analysis, t-test, and panel regression analysis. The study finds that COVID-19 significantly impacts the banks' performance and some corporate governance characteristics. The study also reveals that corporate governance significantly impacts the financial performance of commercial banks. The findings of this study suggest that banks should concentrate more on corporate governance.

• 보건행정학회지
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• 제18권4호
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• pp.23-48
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• 2008

Although the universal health insurance, National Health Insurance (NHI), have improved access to health care and financial burden of health care costs for Koreans, limited coverage of the NHI leads to high out-of-pocket payment for health care. This study examines financial burden of household health expenditures by income level. Data from the Urban Household Expenditure Survey from 1985 through 2005 is analyzed and household expenditure is used as a proxy measure for income. Health expenditures include spending for inpatient care, ambulatory care and pharmaceuticals. If a household spends health expenditure above 40% of household consumption except for foods, that is defined as catastrophic health expenditure. Access to health care for the lowest income group had been improved for two decades relative to other income groups as well as in absolute term. However, both financial burden of health expenditures and the proportion of households that experienced catastrophic health expenditure had been increased in the lowest income group. Study findings have several policy implications. First, in terms of financial burden of health expenditures. the differences among income groups decreased until 2000 but it was worsen in 2005. This suggests that recent policies for extending NHI coverage are not enough to improve the disparity by income level. Second, a differential catastrophic coverage by income level would be an effective strategy that relieves financial burden for low income group. Third, since the catastrophic coverage is applied to only covered services by the NHI, additional strategy for uncovered services should be considered.

• 유통과학연구
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• 제13권11호
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• pp.69-77
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• 2015

Purpose - Economic status at an early stage of life after one's retirement is often determined by the long-term sacrifice of one's earlier consumption tendencies. In general, the first and foremost way to secure income after retirement is through annuity savings. People sign up for personal annuity savings in order to guarantee a stable economic life upon retirement, and such actions may be heavily influenced by self-efficacy. Confidence in current economic activity is a source of rational decision-making. Inability to achieve self-control can lead to reckless spending and the eventual hindering of proper investment for the future. This paper examines how self-efficacy and self-control affect the intention and action of enrolling in an annuity savings plan in relation to one's level of financial literacy. Research design, data, and methodology - To analyze the proposed model, this study investigates financial consumers over the age of 20. The data were collected from 511 respondents and analyzed with SPSS 21.0 and AMOS 21.0. First, for the one-dimensional test and to measure the convergent validity of each structure, we use the scale purification process. The results of the test and the confirmatory factor analysis ensure the focus of the validity of the single dimension for each structure. In addition, the validity of the measurement was guaranteed from the results of correlation analysis. Results - First, self-efficacy and self-control have positive effects on the purchasing intention of the personal annuity savings plan. Second, purchasing intention positively affects purchasing behavior. Lastly, self-control has a positive effect on purchasing intention among the low financial literacy group, whereas self-efficacy does not have this effect in the high financial literacy one. Conclusions - The time of product benefit is different with age. The younger group would be granted the savings after several decades once they enroll, whereas the older group would wait for a relatively shorter period of time. Therefore, further research should be conducted in order to verify such a difference. However, this study has value through its confirmation that the roles of self-efficacy and self-control play a part in leading to the enrollment in annuity savings plans and by verifying different effects based on levels of financial literacy. Such results suggest a number of implications in a real life setting. First, banks need to put greater emphasis on the stability of annuity savings in general. Second, customers with relatively low levels of financial literacy are able to control their finances through annuity savings, but find self-efficacy difficult due to a lack of financial understanding. Therefore, such customers should be approached from an invest-effectiveness comparison method. Third, customers with high financial literacy tend to put more value in rational economic decision-making and behavior than in self-efficacy. Therefore, such customers should be approached by promoting the reliability of annuity savings and the excellence of the specific bank's annuity savings plan in comparison to those of other financial institutions.

• 유통과학연구
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• 제11권4호
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• pp.81-88
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• 2013

Purpose - This paper analyzes the influence of the RMB internationalization on the KRW/dollar exchange rate using an autoregressive distributed lag model. Comparing the parameter estimators from the sample period before and after the global financial crisis, we found that the RMB/dollar exchange rate has increasingly become more influential on the KRW/dollar exchange rate. Moreover, for the past several years, the Chinese government has actively utilized the financial service FTA negotiation as a measure for the RMB internationalization. This paper simultaneously considers RMB internationalization and financial service negotiations in the Korean-Chinese FTA. The purpose of this paper is to explicitly suggest a direction for the financial service negotiations in the Korean-Chinese FTA considering the effects of RMB internationalization. Research design, data, and methodology - The research plan of this paper has two parts. First, for an empirical study, this paper uses the daily exchange rate of the U.S. dollar against the currencies of the ASEAN5, Taiwan,and Korea. By using an autoregressive distributed lag model, this paper studies the influence of the change in the RMB/dollar exchange rate on changes in the local currency/dollar exchange rate in seven economies neighboring China. Our sample periods are 06/2005 - 07/2008 and 06/2010 -02/2013. During these periods, China was under the multi-currency basket system. We exempted the period of 08/2008 - 05/2010 from the analysis because there was nearly no RMB/dollar exchange rate fluctuation during those months. Second, after analyzing the recent financial service liberalizations and deregulations in China, we recommend a direction for the financial service negotiations in the Korean-Chinese FTA. In the past several years,the main Chinese financial policy agenda has surrounded the RMB internationalization. Therefore, it is crucial to understand this in the search for strategies for the financial service negotiations in the Korean-Chinese FTA. This paper employs an existing literature survey and examines the FTA protocols in its research methodology. Results and Conclusions - After the global financial crisis, the Chinese government wanted to break away from the dollar influence and pursued independent RMB internationalization in order to continue the growth and stability of its economy. Hence, every neighboring economy of China has been strategically impacted by RMB internationalization. Nevertheless, there is little empirical study on the influence of RMB internationalization on the KRW/dollar exchange rate. This paper is one of the few studies to analyze this problem comprehensively. By using a relatively simple estimation model, we can confirm that the coefficient of the RMB/dollar exchange rate has become more significant, except in the case of Indonesia. Although Korea is not under the multi-currency basket system but under the weakly controlled floating exchange rate system, its coefficient appears as large as that of the ASEAN5. This is the basis of the currency cooperation that has grown from the expansion of trade between the two countries. These empirical results suggest that the Korean government should specifically consider the RMB internationalization in the Korean-Chinese FTA negotiations.

• 한국주거학회:학술대회논문집
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• 한국주거학회 2009년 춘계학술발표대회 논문집
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• pp.284-287
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• 2009

In order to plan and manage public facilities effectively and efficiently, it is necessary to diagnose the current status of facilities and decide the objective features. Performance measurement is to provide managers with the information they need to measure competitive advantages. This paper discusses public facility performance in order to establish the conceptual framework for performance measurement for public facilities. In order to develop the measurement of public facility performance, a pilot study was conducted with facilities managers of facilities management corporation of public districts in Seoul. We investigated how public facilities management teams have assessed their performance and collected data regarding financial aspects, service aspects, community aspects, and building aspects. There is no standard format to measure facility performance since building sizes, programs, community needs widely differ. However, it is necessary to have a more consistent system to measure facility performance. In addition, each public municipal district needs to empower each district facilities management corporation to participate in managerial decisions and budget control.

• 한국신재생에너지학회:학술대회논문집
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• 한국신재생에너지학회 2008년도 추계학술대회 논문집
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• pp.278-281
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• 2008

In these days the installation of wind turbines or wind parks includes a high financial risk. So for the planning and the constructing of wind farms, long-term data of wind speed and wind direction is required. However, in most cases only few data are available at the designated places. Traditional Measure-Correlate-Predict (MCP) can extend this data by using data of nearby meteorological stations. But also Neural Networks can create such long-term predictions. The key issue of this paper is to demonstrate the possibility and the quality of predictions using Neural Networks. Thereto this paper compares the results of different MCP Models and Neural Networks for creating long-term data with various indexes.