• Journal of Korea Port Economic Association
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• v.19 no.2
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• pp.69-85
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• 2003

The current legislation of the Port Authority which empowers the central government to control finance, personnel management, business of the Port Authority should be amended to allow the Port Authority to exercise its authority over port management and operation by gaining authority from the central government. In addition, to enhance Busan port's competitiveness and for a successive activation of the Susan Port Authority, it is necessary for the BPA to develop its new business and for the Busan Metropolitan City to establish both the department of Port Logistics and relevant regulations. The central government should also support and cooperate with the BPA rather than controlling the Authority.

• Land and Housing Review
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• v.2 no.4
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• pp.345-353
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• 2011

This paper is focused on the sustainability of public rental housing policy. We have analyzed the general fiscal conditions of central government, the public welfare fiscal conditions, the public expenditure on rental housing, and the Korea Land & Housing Corporation (LH) financial structure. Central government fiscal conditions is controlled by the midium-term fiscal operation plan(2010~2014) and fiscal rules. And the fiscal mandatory expenditures on welfare is increased rapidly by the expansion of beneficiaries, but the fiscal discretionary expenditures particularly on public rental housing can be gradually cut down. LH, the dominant agency responsible for affordable housing, is now confronted with financial distress accruing to excessive burden for public rental housing construction. As a result this paper, we find the discrepancy between the fiscal conditons and public rental housing policies. We suggest the fiscally sustainable rental housing policy. Firstly, the construction plan should be realized reflecting the market and fiscal conditions. Secondly, the provsion and financing system of rental housing should be rebuild within the government fiscal condtions and financial ability of LH.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.649-657
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• 2009

BTL projects, which has been 3 years since it was carried out in 2008, trigged the controversy on the adequacy in the calculation of disbursement for Government due to such problems as low earning rate and the burden of service level compared with the project suggestion. Thus, the purpose of this study is to offer a suggestion on the calculation system for the purpose of the standardized - expense appropriation by item and database including the antecedent study on the finance model and the feasibility in BTL projects. The system is composed of 4 steps - project management, basic database, an analysis on expense by item and the result, and an analysis on sensitivity, and it is possible to carry out a comparative analysis on single and multi alternatives by variable change along with the ground on expense calculation.

• Management & Information Systems Review
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• v.19
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• pp.49-81
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• 2006

The private college education plays a crucial role both in training and supplying manpower needed for national economic growth and in increasing employability and personal labor earnings of individual workers. In oder for private college education to effectively respond to the rapid changes in industrial and occupational structures, it is necessary to secure appropriate level of investment funds and manage them efficiently. For this, it is required to discuss the structure, magnitude and management mechanism of the current private college education finance, changes in future demand for private college education and resultant changes in budget estimates, and new financial resources and allocation schemes. This study attempted to analyze current status and problems of private college education finance in Korea and, based on this analysis, to suggest future policy directions to improve private college education finance system. In order to make the private college education system in Korea competent and competitive enough to survive in international market, it is prerequisite to provide enough budget for the private college education and to manage the private college education finance in more efficient ways. First, for securing the adequacy and stability of investment budget for the private college education, it is recommended to 1) increase the government budget and put emphasis on the private college education; 2) diversify financial resources and induce financial contribution from private sector such as school juridical persons and enterprises. Second, for higher efficiency of financial management, it is recommended 1) make valid allocation standards and mechanism; 2) introduce competition system; 3) develop and utilize evaluation mechanism for the private college education finance to check adequacy, efficiency, accountability, and effectiveness; 4) apply consumer-oriented financial management scheme. In addition to the above policy measures, it is necessary to 1) make scientific forecasts of industrial and occupational structures periodically and apply these analyses to medium & long-term the private college education planning; and 2) redesign budget accounting system and develop the private college education performance indicators for the evaluation of accountability of the private college education institutions and administration institutes.

• International Area Studies Review
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• v.13 no.1
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• pp.219-240
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• 2009

Through the research, we found that the organizational systems of social enterprises in Europe have both properties of limited companies and stock companies in traditional organizational structures such as cooperatives, mutual companies and associations. However, social enterprises pursue interests of entire community, allowing the interested parties to join them in comparison with cooperatives. And for finance, most of the countries mainly use public fund such as national grants, but they are using more sales revenue. However, in our country the organizational systems of social enterprises have been introduced as the government and academic circles discussed expansion of social employment within a short period. So Korean enterprises tend to depend on national support rather than profitable activities for finance. Therefore, we need to develop a Korean convention or social agreement for the organizational systems of social enterprises. Furthermore, it is important for social enterprises to secure safe finance through development of social services and social cultures such as donation.

• Journal of architectural history
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• v.12 no.3
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• pp.39-52
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• 2003

The purpose of this study is to show the constructional activities conducted by the Buddhist craftsmen of Bumeo-sa, especially to focus on the government constructions at Dongrae province in the 1700s. The result is as follows: 1) In the early 1700s, Bumeo-sa developed to become a great Buddhist temple and was be able to possess a large number of workers and craftsmen. On the base of these workforce and skill, the Buddhist craftsmen of Bumeo-sa played the most leading roles for the government constructions until the late of 1700s. 2) Though the conditions of finance and workforce at Dongrae province were not good enough at that time, several huge government constructions could be promoted successively, owing to Bumeo-sa's supports. 3) Above all, the Buddhist craftsmen in Bumeo-sa monopolized the construction of Dongrae Hyangyo in the middle of the 1700s. But the private craftsmen got replaced their main roles in the government and temple constructions since the late of the 1700s.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.19-30
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• 2020

This paper investigates, in a single equation framework, the effect of bank-specific and macroeconomic determinants on micro-, small- and medium-sized loans by commercial banks in Indonesia. This study uses a sample of 790 observations from 79 commercial banks in Indonesia over the years 2006-2015. This study uses two estimation methods for our panel regressions: static and dynamic generalized method of moments (GMM) panel estimator. In static relationships, the literature usually uses the least square methods on fixed effects (FE) or random effects (RE). I found evidence that all banks, bank profitability and size are positively and significantly related to micro-, small- and medium-sized loans, while the coefficients of liquidity are significantly positive in all specifications, except government banks which is significantly negative. The relationship between risk and credit growth is negative for non-government banks. All estimated equations show that the effect of the capital variable on lending banks to MSMEs is not important in government banks and non-government banks. Finally, macroeconomic variables, such as inflation and gross domestic product, clearly affect the lending of the banking sector particularly non-state banks. The findings have several policy implications to Indonesia government, regulatory authority and bank managers in order to improve bank profitability through bank lending.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.19-23
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• 2017

Based on a simultaneous-equation model consisting of aggregate demand and short-run aggregate supply, this paper estimates a reduced-form equation specifying that the equilibrium real GDP is a function of the real effective exchange rate, the government deficit as a percent of GDP, the real interest rate, foreign income, labor productivity, the real oil price, the expected inflation rate, and the interactive and intercept binary variables accounting for a potential change in the slope of the real effective exchange rate and shift in the intercept. Applying the exponential GARCH technique, it finds that aggregate output in Australia has a positive relationship with the real effective exchange rate during 2003.Q3 - 2013.Q2, the government deficit as a percent of GDP, U.S. real GDP, labor productivity and the real oil price and a negative relationship with the real effective exchange rate during 2013.Q3 - 2016.Q1, the real lending rate and the expected inflation rate. These results suggest that real appreciation was expansionary before 2013.Q3 whereas real depreciation was expansionary after 2013.Q2 and that more government deficit as a percent of GDP would be helpful to stimulate the economy. Hence, the impact of real appreciation or real depreciation on real GDP may change overtime.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.15-23
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• 2020

Based on the theoretical underpinnings of the agency theory and liquidity theory, the purpose of this study is to show how managers who want to enhance the performance of Pakistan's non-financial sector can use liquidity policy in relation to corporate governance. Nowadays, Pakistan is facing a severe liquidity crisis; this study contributes by examining the mediating role of liquidity on the link of corporate governance-performance. We use data from 63 firms from 2010 to 2018, excluding 17 outliers. To analyze the data, we use the Seemingly Unrelated Regression (SURE) model and nlcom-Stata test. Our findings support the mediating role of liquidity on the link between corporate governance and performance. In addition, the results show that corporate governance improves performance. Furthermore, the study supports a significant positive association of liquidity and performance. For robustness, we use two performance variables - return on assets (ROA) and Tobin's q (TQ) - where ROA represents full mediation and TQ indicates partial mediation. This study helps to use liquidity policy to strengthen the inside and outside dimensions of corporate governance mechanisms that improve the performance of firms. Overall, these findings suggest better disclosure, transparency, and solutions to auditing issues that add value to the firms.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1097-1104
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• 2020

This research seeks to provide evidence about how political connections, proxied by government ownership and the existence of politically connected board members, affect the extent of corporate social responsibility (CSR) disclosures in Indonesian listed companies. This research uses the legitimacy theory as a basis for explaining management's motivation for disclosing its CSR. The sample consists of 131 firm-year observations from 38 non-financial public companies that published sustainability reports from 2013 to 2017. We measured the CSR disclosures using a disclosure checklist on the sustainability reports. We subsequently processed the data using a random effect (RE) linear regression. The result shows that CSR disclosures were greater in government-owned companies but lower in companies that have politically connected board members. The results support the legitimacy theory that the government intends to demonstrate legitimate national economic and political conditions by showing that government-owned companies are sustainable. However, CSR disclosures seem to have a substitutive relationship with the existence of politically connected board members, since those political connections may protect the company from public pressure and/or the risk of litigation, reducing the need for CSR disclosures. This research provides evidence that different types of political connections may have different impacts on corporate disclosures.