• 한국노년학
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• v.29 no.1
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• pp.215-230
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• 2009

In this study, we compared Korean retirees' retirement wealth adequacy with their subjective recognition and examined determinants affecting the retirement wealth adequacy. The data were drawn from the 2007 Korean Retiree Survey carried out by the Korean Investors Education Foundation. The major results of this study were as follows. The analysis suggested that Korean retirees(age 50 and over) were not well prepared financially. When using their assets(except for their residence), only 23.2% had accumulated enough wealth to meet their expenses for the remainder of their life. 25.7% of retirees subjectively considered themselves to be adequately covered. The comparison results showed that 23.8% of retirees' subjective recognition was not in accord with the estimation results. One of the most troubling groups is the 12.9% of retirees who were in the inadequacy group even though they considered themselves to be in the adequacy group. Retirement wealth adequacy determinants were quite different between objective adequacy and subjective recognition. Household income and ownership of a residence have positive effects on the retirement wealth adequacy. Also, the importance of retirement planning to retirement wealth adequacy is statistically confirmed. Based on these findings, This research suggests private retirement planning and political implications for retirees and preretired households.

• Journal of Venture Innovation
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• v.6 no.3
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• pp.221-240
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• 2023

In a recent study conducted in South Korea, a nation grappling with the implications of an increasingly super-aged society, researchers empirically analyzed the factors influencing seniors' satisfaction with financial institutions' wealth management (WM) services. We surveyed 250 seniors who utilized financial institutions' wealth management services. Independent variables such as product(diversity, profitability, stability), employee(expertise, problem-solving ability, customer orientation), physical evidence, process, inheritance service, and trust service were carefully examined. Employing hierarchical regression analysis, we tested hypotheses within an established research model. The findings revealed that variables like product stability and profitability, employee problem-solving ability, customer orientation, process, inheritance service, and trust service significantly positively affected satisfaction with WM services. In contrast, no substantial association was detected between satisfaction and factors like product diversity, employee expertise, or physical evidence. Among the influential factors, the order of impact was determined to be employee customer orientation, problem-solving ability, trust service, product stability, inheritance service, product profitability, and process. This research provided essential insights into the nuanced preferences and needs of seniors concerning wealth management services. The detailed examination of the subject might also shed light on similar challenges faced in the other aging societies. As the global population continues to age, the implications of this study could reach far beyond the borders of South Korea. By understanding these key determinants of satisfaction, financial institutions worldwide can tailor their wealth management services to better meet the unique demands of the senior population.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.3
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• pp.43-54
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• 2006

The National Wealth Survey Method has been used to estimate capital stocks in Korea by the Korea National Statistical Office in every 10 years. However, this method requires huge amount of time and money, Since the Benchmark Year Method also has similar problems of difficulties to estimate the annual retirement rate and depreciation, the Korea National Statistical Office is now considered to adapt the Perpetual Inventory Method being used by the most OECD countries as an alternative. Hence, in this paper, the concepts of the Perpetual Inventory Method are introduced and its formation plans for the National Wealth Survey are suggested.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.30 no.4
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• pp.170-181
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• 2007

The purpose of computing economic depreciation value is to find valuation of assets closely in line with market prices. The valuation of industrial assets are called Engineering Valuation. The two representative techniques for such valuation are Hulten-Wykoff Method, which estimates real value using regression equations, and T-factor Method devised at Iowa State University. The two are all empirical methods for computing service life (duration period). In this paper, we derived the service life by empirical methods using national wealth statistics, and also by more conventional methods such as original group method and retirement method. The results from each method are compared with one another. We also computed economic service life from these results. In S. Korea where amount of asset value statistics is still insufficient, the most effective method for empirically computing economic service life turns out to be the one using national wealth statistics. In addition, we also present economic relationship between depreciation value computed by using Hulten-Wykoff Method and depreciation value computed by using T-factor Method.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.169-178
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• 2021

This research aims to test, firstly, how the disclosure of corporate social responsibility (CSR) helps to moderate the effect of family ownership on investment efficiency; secondly, how CSR disclosures mediate the effect of corporate governance on investment efficiency. STATA was used to analyze archival data collected from a total sample of 210 manufacturing companies listed on the Indonesian Stock Exchange (IDX), which were in the family businesses category for the period of 2016-2018. The first finding is that CSR moderates the effect of family ownership on investment efficiency. This implies that family businesses are very careful about investing. They will avoid risky decisions that may increase the economic wealth, but reduce the socio-emotional wealth. To maintain socio-emotional wealth, they tend to choose an underinvestment strategy and are more concerned with the prestige and good reputation of their families and dynasties than with economic wealth. Thus, CSR disclosures can reduce the underinvestment strategy of family businesses listed on the IDX. The second finding is that CSR disclosures are able to mediate the effect of corporate governance on investment efficiency. CSR activities play a major role in decision-making, and through CSR disclosures, corporate governance has a greater effect on investment efficiency.

• Journal of People, Plants, and Environment
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• v.24 no.6
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• pp.651-662
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• 2021

Background and objective: This study identifies whether children's planning-organizing executive function can be significantly classified and predicted by home environment quality and wealth factors. Methods: For empirical analysis, we used the data collected from the 10th Panel Study on Korean Children in 2017. Using machine learning tools such as support vector machine (SVM) and random forest (RF), we evaluated the accuracy of the model in which home environment factors classify and predict children's planning-organizing executive functions, and extract the relative importance of variables that determine these executive functions by income group. Results: First, SVM analysis shows that home environment quality and wealth factors show high accuracy in classification and prediction in all three groups. Second, RF analysis shows that estate had the highest predictive power in the high-income group, followed by income, asset, learning, reinforcement, and emotional environment. In the middle-income group, emotional environment showed the highest score, followed by estate, asset, reinforcement, and income. In the low-income group, estate showed the highest score, followed by income, asset, learning, reinforcement, and emotional environment. Conclusion: This study confirmed that home environment quality and wealth factors are significant factors in predicting children's planning-organizing executive functions.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2011.04a
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• pp.296-300
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• 2011

It's well known that housing is one of the largest holdings in household wealth and at the same time the majority of households highly concentrate on it for their wealth accumulation. Coupled with a low interest rate and increasing housing price, the rationale is conspicuous and the propensity to debt-financed consumption becomes strengthened. This research was to examine the risk of home financing. In doing so, the study utilized several secondary data to identify the characteristics of households who finance loans for home buying in three regions of the nation - so-called Bubble 7, Seoul Metropolitan Area, and others. Based on the 2009 KB survey, the major findings were as follows: the majority of the studied households in Seoul Metropolitan Area who owned a house lived in rental housing, housing accounted for 89% of the household wealth, and home loans taken on were a ballon payment amortized for a short-term period (5 years) with an adjustable interest rate. In addition, the payment method most of the households depend on is income. The financing mechanism fueled debt load of the households, and further they are financially very vulnerable to such factors as increase in interest rate, unemployment and market downturn. In the absence of understanding the financial system, the consumption behavior leads to house-poor, so that financial accountability and ethics are addressed while the intervention of the government in home financing system should be more cautious but stimulate financial soundness in household wealth accumulation.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.1-29
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• 2009

Since convertible debt has both characteristics of stocks and bonds, its issuance can be related to both interests of stockholders and bondholders. Nevertheless, the existing studies focused mainly on the wealth effect on stockholders. In this paper we revisit the hypotheses on the issue of convertible debt especially from the viewpoint of a firm's growth, by making an additional investigation into bondholders' wealth effects. We find that stockholders' wealth increases with bondholders' wealth in the firm whose book-to-market ratio is low and thus is considered a growth firm. This finding seems consistent with the hypothesis in which the issue of convertible debt mitigates the agency cost of debt in the high-growth firm.

• Survey Research
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• v.8 no.2
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• pp.1-19
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• 2007

This paper explores the extent to which property scale, in particular housing price is useful as the measure of an individual's economic status. Its main object is to compare the distributions of the measure of housing wealth and other objective or subject measures, i,e., reported income and subjective class identification. Additionally, their relations to other variables are examined. An analysis of distributions and cross-tables based upon national survey of 2005 family and the database of apartment price of Kookmin Bank are used. It is shown that the measure of housing wealth differs from other economic status measures in terms of distribution and the relations to other variables, such as attitude variables and consumption-related variables. Its results also suggest that the measure of housing wealth can be applied to various areas as a new measure of an individual's objective economic status, in such a way to improve applicability of social survey.