거시경제변동 전후 건설기업의 부실화 비교분석 - IMF 외환위기 및 서브프라임 금융위기 전후를 중심으로 -

최재규,유승규,김재준,Choi, Jae-Kyu,Yoo, Seung-Kyu,Kim, Jae-Jun 한국건설관리학회 2012 한국건설관리학회 논문집 Vol.13 No.4

과거 IMF 외환위기와 서브프라임 금융위기는 그 발생의 기원이 다를지라도 거시경제의 변동성에 크게 영향을 주었다. 이는 전체 산업에 상당한 영향을 미쳤을 뿐 만 아니라, 건설산업을 영위하는 개별 건설기업의 경영환경과 밀접하게 연계되어 많은 부실기업들을 양산하였다. 실제로 거시경제변동 전후 건설기업의 부실화 정도는 급격한 변화과정을 겪게 되며, 충격에 대한 반응 또한 기업별로 차이가 존재한다. 따라서 본 논문은 과거 IMF 외환위기와 최근 서브프라임 모기지 사태라는 거시경제변동 상황 하에서 건설기업 부실화의 변천과정을 확인하는데 그 목적이 있다. 거시경제변동 전후에 건설기업의 부실화 정도를 분석하기 위해 KMV 모형을 사용하여 예상부도확률(Expected Default Frequency)을 추출하였으며, 분석에 사용된 건설기업의 표본은 부실기업 20개, 정상기업 20개로 구성하였다. 분석결과 서브프라임 금융위기가 상대적으로 외환위기보다 건설기업에 더 큰 충격을 준 것으로 판단되며, 이는 거시경제 충격 이전의 건설시장의 상황과 관계가 있을 것으로 예상된다. 또한 부실기업과 정상기업을 비교해 보았을 때, 정상기업의 회복속도가 더 빠른 것으로 분석되었다. 이는 정상기업과 부실기업의 내부 사업역량차이에 의해 작용한 것으로 판단된다. 결과적으로 KMV 모형을 활용하여 건설기업의 부실화정도를 시간 흐름에 따라 측정하는 것이 가능함에 따라 각 시기별 부실화의 속성을 유추할 수 있을 것으로 판단된다. 이는 개별기업의 재무구조 개선 효과 및 투자자의 투자지표로 활용할 수 있음은 물론이며, 리스크 매니지먼트 관점에서 의사결정지표로 활용이 가능할 것으로 판단된다. The past IMF foreign exchange crisis and subprime financial crisis had a big influence on variability of macroeconomics, even if the origin of its occurrence might be different. This not only had a significant infrequence on the overall industries, but also produced many insolvent companies by being closely linked with a management environment of an individual construction company leading the construction industry. Actually, the level of default risk of construction companies before and after fluctuation of macroeconomics gets to experience a rapid changing process, and a difference in reaction against shock exists according to each company. Accordingly, the purpose of this paper is to confirm the fluctuation process of the default risk of construction companies under the fluctuation of macroeconomics such as the IMF financial crisis and the subprime mortgage crisis. As an analysis result, it is judged that the subprime financial crisis gave bigger shock to construction companies than the foreign exchange crisis, and it is expected that this would have a relation with the construction market before shock of macroeconomics. In addition, it was analyzed that when comparing insolvent companies with normal companies, the recovery speed of normal companies is faster. It is judged that this was affected by a difference of internal business capacity between insolvent companies and normal companies.

건설현장 관리자와 안전관리 담당자의 근로조건이 직무만족에 미치는 영향 분석

최재규 ( Choi Jae-kyu ),홍정석 ( Hong Jung-suk ) 한국건축시공학회 2017 한국건축시공학회지 Vol.17 No.1

본 연구에서는 건설 현장에서 안전사고를 사전에 방지하기 위해 중요한 역할을 하고 있는 안전관리자와 현장 근로자를 대상으로 근로조건과 직무만족도의 비교를 실시하고, 현장관리자와 안전관리자의 근로조건이 직무만족도에 미치는 영향을 비교분석하고자 하였다. 본 연구의 분석결과, 기본임금과 의료, 여가가 직무만족에 긍정적인 영향을 미치는 것으로 분석되었다. 또한, 현장관리자와 안전관리자의 비교분석결과, 안전관리자는 현장관리자보다 기본임금에 미치는 영향이 더 큰 것으로 나타났다. 현장관리자의 경우, 기본임금을 제외하고, 의료, 여가가 직무만족도에 영향을 미치는 것으로 나왔으나, 안전관리자의 경우, 산재, 숙소가 영향을 주는 것으로 나타났다. 건설현장에서 안전관리자의 근로조건에 대한 개선방안을 도출하여 현장 안전관리에 대한 건설기업과 정부 측면의 정책 마련에 기여할 수 있을 것으로 기대된다. The safety management is one of important factors. However, the satisfaction of safety manager is lowering. Therefore, this study focuses on comparing the impact that working conditions have on the job satisfaction of field and safety manager in construction field. The results of in this study, the basic wage, medical care, and leisure activity were analyzed as a positive impact on job satisfaction. In addition, the comparison result of the field manager and safety manager showed that safety manager appeared to be a greater impact on the basic wage than the field manager. Also, this study showed that the medical care and leisure activity have a positive impact on the job satisfaction of field manager, but the industrial accident and accommodation facility have a positive impact on the job satisfaction of safety manager.

미분양주택 발생과 건설업체 부실화와의 관계성 분석

최재규(Choi, Jae-Kyu),유승규(Yoo, Seung-Kyu),김재준(Kim, Jae-Jun) 대한건축학회 2013 大韓建築學會論文集 : 構造系 Vol.29 No.6

The U.S. subprime mortgage crisis of 2008 has led to a sharp increase in the number of unsold homes in our country. This has not only caused huge national and social expenditures, but has also made it challenging to manage construction companies given the slow progress of new projects and rise in debt and financial expenses. The default risk of construction companies results in economic losses to the interested parties as well as a huge burden on national finances, since it is linked to the default risk of financial institutions. Accordingly, the purpose of this study is to analyze the relationship between the Expected Default Frequency and the unsold housing stock using the KMV(Kealhofer, McQuown and Vasicek) model, based on the assumption that there is a close relationship between unsold housing stacks and default risk of construction companies. This study has utilized the KMV model based on the option pricing theory for deriving the Expected Default Frequency of an individual construction company. The Vector Error Correction Model was used for analyzing the relationship with unsold housing stock. For calculating the Expected Default Frequency, 26 listed construction companies from 2001?2010 were selected. The results are as follows. 1) It was found that the default risk of construction companies is primarily affected by the unsold housing stock that piled up due to the housing market situation. 2) The impulse response analysis confirmed that the default risk of construction companies is primarily affected by the creation of unsold housing stock, rather than due to housing price shocks.

건축물 에너지 평가사의 역량 및 인식분석에 대한 설문 분석

최재규(Jae-Kyu Choi),신명숙(Myung-Sook Shin),이동온(Dong-On Lee) 한국생태환경건축학회 2020 한국생태환경건축학회 논문집 Vol.20 No.6

맞춤형 아파트의 효율적인 사업 수행에 관한 연구

한송이,최재규,김경숙,김재준,Han Song-Yi,Choi Jae-Kyu,Kim Kyung-Sook,Kim Jae-Jun 한국건설관리학회 2003 건설관리 : 한국건설관리학회 학회지 Vol.4 No.4

타 산업, 특히 제조업 분야의 경우 급격한 기술 및 인터넷 환경의 발전으로 인해 시장이 세분화되고 다품종 소량생산의 체제로 변화하였다. 이러한 사회적 변화는 주택 시장에도 변화를 가져와 공급자 중심에서 수요자 중심의 시장으로 변화하고 있으며 주택에 대한 소비자의 요구사항도 날로 다양해지고 있다 한편 주택의 장수명화를 실현하고 지속가능 한 건축 및 환경 구현을 위해 오픈 하우징 시스템에 관한 연구가 활발히 진행되고 있는 시점에서, 오픈 하우징 개념을 도입한 맞춤형 아파트의 도입이 증가하고 있는 추세이다. 그러나 아직 도입 초기 단계이기 때문에 맞춤형 아파트의 운영에 있어 많은 문제점이 드러나고 있다. 따라서 본 연구에서는 맞춤형 아파트 사업이 효율적으로 이루어질 수 있도록 하기 위하여 최근 입주가 완료된 맞춤형 아파트의 실무자들과의 인터뷰 및 운영 사례를 조사하여 문제점을 분석하고 그에 따른 개선방안을 제시하였다. Technical improvement and the growth of the Internet environment make the market segmental of the manufacturing industry. These social trends have had an effect on the housing market, and the housing market changed from the supplier-oriented to the consumer-oriented. In recent years the occupants' needs for the apartment is diversified and complicated. But the existing mass housing supply method has many problems. It couldn't satisfy the dwellers' various needs and couldn't reflect overall expected life span either. In order to realize the sustainable building & environment, the research for the open housing system is actively performed. Finally the custom-built apartment which imported the concept of the open housing is constructed. But after running the custom-built apartment, several problems are revealed. Therefore the purpose of this study is to analyze the problems and then suggest the improving methods for a custom-built apartment.

설계자와 건축물 에너지 평가사 측면의 제로에너지 건축물 인증 활성화를 위한 중요도 비교 분석

명일,최종대,정호연,최재규,Myung, Il,Choi, Jong-Dae,Jung, Ho-Youn,Choi, Jae-Kyu 한국건축시공학회 2023 한국건축시공학회지 Vol.23 No.4

This research conducts a comparative analysis of the perceived importance of advancing zero energy building certification from the viewpoints of two major stakeholders - designers and building energy assessors. Both groups prioritized the importance of policy, technology, education, incentives, and promotion respectively. For designers, enhancing energy efficiency standards, developing a skilled energy workforce, and implementing an office registration system emerged as critical factors in invigorating the certification process. The findings suggest potential avenues for the government to formulate realistic strategies for boosting the certification activity.

다변량판별분석(MDA)기법을 이용한 외부감사 건설기업의 부도예측모형 개발에 관한 연구

유승규(Yoo Seung-Kyu),박정로(Park Jung-Ro),최재규(Choi Jae-Kyu),김재준(Kim Jae-Jun) 대한건축학회 2009 대한건축학회 학술발표대회 논문집 - 계획계/구조계 Vol.29 No.1(구조계)

The construction industry has job-order production structure that realize profit receiving owner's order and heavily dependent on owner's order. This reacts sensitively dropping consumer confidence, economic slump, changes in government policies and domestic/international situation. consequently, this fact have directly or indirectly influence on profitability of construction company. These situations are exposed that financial statements indicative of corporate's status. The construction corporate go through the progression of financial indexes deterioration, insolvency, suspension of current account transaction and than bankruptcy by lowering of profitability and lack of liquidity. Bankruptcy of Construction corporate bring on the chain bankruptcy of subcontractors and related company. and than mass dissimal occurred on industry. in the end, bring about the socially big problem. Thus, this paper described that feature of existing references about bankruptcy prediction in construction company, and developed a bankruptcy prediction model using on multivariate discriminant analysis method. and also, we described testing prediction power of the developed model and extracted variations affecting the bankruptcy on construction company. finally, Based on this result, we will expect that construction company against a bankruptcy danger and financial health improvement with recognized the bankruptcy symptom of financial ratio.

愛生園癩患者의 統計的觀察

崔在圭,金重明,徐舜鳳 慶北大學校 醫科大學 1958 慶北醫大誌 Vol.1 No.1

The statistical observation of leprosy patients in Ae-Seng Leprosarium gives us the following results: Total number is 517 and the ratio of male to female is 1.75:1. The nodule type occupies 55%, the macule type 3%, and the nerve type 42% of all the patients. The age curve has a peak between 26 and 30 years (18,58%) Agriculture is the most common occupation (62%). In graduation of education, illiteracy is very frequent (59.5%) among these patients, who were nearly all born in Kyung Pook Province (86%), many of them in Ui-Sung Gun (19%). The first symptoms are swelling and hyperesthesia involving especially the face 27% and/or the hands (28.2%). The onset of the disease occurrs between the age of 16 and 20 years for the 43.7% of the patients of whom a large number (48%) reported in the Spring (March, April and May). 57.64% of the patients believe that the disease is a spontaneous affection, 20.2% that it is hereditary, 14.1% reckon their ignorance and only 7.93% know about the infectious character of the disease. These patients have used different drngs; chaulmoogra oil 32%, Diason 18%, Promin 13% while 23% have used chinese decoctions and 14% home made medicines. Regarding the results of the treatment, 74.85% of them are hopeful 20.32% doubtful, 3.03% do not know, and 1.74% hopeless 67% of the patients were able to have some sorts of occupations. Conclsively, the primordial task in Korea seems still to be an exact evalnation of the facts to establish a large scale of program of action enforcing a stricter control of the patients, of the usage of the proper medicines in the proper way. The program will also have to educational part stressing the real condition of the disease to the population in general and specially in some districts.

未患兒童(癩)에 施行한 Tuberculin reaction

崔在圭,金重明,徐舜鳳 慶北大學校 醫科大學 1958 慶北醫大誌 Vol.1 No.1

The tuberculin reaction which is one of the indicator of the bacterial allergy is important to the children for the diagnosis and prophylaxy of the tuberculosis. Especially 1939, Fernandez reported that the tuberculin reaction is resemble to the lepromin reaction in the children. Primodially author observed about the tuberculin reaction of the untaina child in Sam Hyuck Preventorium, which gives us the following results. Total number is 119 cases (74 male, 45 female) and age range is from 4 years to 21 years. On the untained child, the tuberculin reaction is that the negative reactor is 52.94%, and the positve are 47.06% of all the cases. While, in the tuberculin reaction on the ordinal child which emploied 1059 cases same age range of the untained child, the negative reactor is 44.48%, and the positive is 55.52% of all the cases. When this two are compared the incidence of negative in the untained child are higher than the ordinal child. On the untained child contacts with leprosy parents the tuberculin reaction are as follow: when the father and mother are leprosy together, the negative is 48.48% all the cases, when the mother is leprosy only, the negative 48.14%, and when the father is also leprosy the negative 44.43% of all the cases. On the clinical sign and the tuberculin reaction, there are 19 cases which is relatively exact clinical sign, but the tuberculin negative reactor is only 36.84% of all the cases.

충남지역의 수술실 및 마취기재의 오염도에 관한 연구

최세진,김익수,장명웅,최재규 충남대학교 의과대학 지역사회의학연구소 1975 충남의대잡지 Vol.2 No.1

Infection by the organisms on the anesthetic apparatuses and the operating theatres is one of the important problems. Authors have studied the distribution of the organisms that have been isolated from the anesthetic apparatuses and the operating theatres of the some hospitals in Chung-Nam province. We have tested antibacterial activity and sensitivity by disinfectants and antibiotics. The results are follows: 1. Eleven strains of organisms were isolated from the anesthetic apparatuses and the operating theatres: Staphylococcus, B. subtilis, Pseudomonas, E. coli, Yeast-forms, both Gram Positive or negative cocci and bacilli and Fungus. 2. Antibacterial acivity was more stronger in higher temperature (50℃) than in lower temperature (20℃) and in comparison of effects between different concentrations, there was not any noted difference in phenol group and benzalkonium group but in hygiene group, antibacterial activity was increased by increasing the concentration. 3. Staphylococci, gram negative bacilli, gram negative cocci, and gram positive yeast-foams were sensitive to mjaority of antibiotics but other organisms were resistant to almost antibiotics.