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은행실패와 금융기관의 효율성에 관한 연구 : 미국,영국,카나다의 증거를 중심으로
류인순,최승빈 수원대학교 1997 地域社會開發 Vol.9 No.-
This paper reviews contagion effects associated with bank failures in Britain, Canada, America and Hong Kong. Empirical tests for contagion effects using capital market data are mixed. Results show that only Canadian banks experienced significant negative cumulative abnormal returns around the event day(0 day). No contagion effects are observed in Britain and America. The results for Canadian banks provide support for the pure contagion effect hypothesis. The observed differences in market reaction in different countries may be explained by the difference in regulatory response. In addition, the existence of a formal deposit insurance scheme may not be enough to prevent contagion effects. Bank regulators have adopted preventive and protective regulatory measures to prevent failures and to contain the contagion effect or domino effect which may result from a bank failure caused by fraud or losses due to risky loans and investments, because the failure of a large bank can threaten the stability of the banking system.
柳仁順 慶北大學校 大學院 文獻情報學科 同窓會 1992 圖書館·情報學硏究 Vol.2 No.-
Public Lending Right is the idea that an auther is entitled to be compensated for the multiple uses of his copyrighted books in libraries. While some form of a public lending right is already a legal fact in twelve nations, this has come about only over the past thirty-five years and actual discussion of the principle cannot be said to have begun in earnest until shortly before 1920. Two arguments in the PLR can be summarized as follows : 1. Most author's view points for PLR are based on three points : ① that the author's proprietary rights to the texts they have written are fixed and inalienable natural rights, ② that these rights are unfairly in fringed upon by libraries which freely circulate the books embodying these texts, and ③ that the effect of such infringements materially deprives the authors of sums they would otherwise realize through private purchase of these books. 2. Most librarian's viewpoints for PLR are based on three points : ① that the application of PLR on libraries become financial and administrative burdens, ② that the PLR is to infringe for the idea of a free public library, ③ that the idea of PLR is to band the right of individuals to buy books and circulate these books freely. Nevertheless, Nations that established to PLR are increasing gradually. The application of PLR involves making payments to authors which are related in someway to the use of their books in libraries. Since large numbers of authors, books, loans, and libraries are involved, there is no simple way each library can be made directly responsible for transmitting money to authors, whatever funding system may be adopted. The major problms on the application of PLR in Korea are, as it were, do authors actually suffer financial damage through library circuation and what are the effects of PLR on libraries.The result of this study, the time is not yet ripe for the application of PLR in Korea.
企業의 危險評價方法에 관한 小考 : 地域 中小企業의 投資危險 고려 방법을 中心으로
柳寅順 수원대학교 1996 地域社會開發 Vol.8 No.-
Traditional DCF approaches represent an improvement over the application of criteria such as payback period or accounting rates of return. But these approachs are only correct in the face of an environment in which there is no unceratinty(risk) nor flexibility. Any valuation method should be able to capture both the intrinsic value and the time value, the value attributed to price unceratinly of the future. Option pricing techniques which draw directly from the work done in the financial sectors allow for both uncertainty and flexibility of real investments. Through interpreting a real investment opportunity as an option, an investment may be worthwhile (positive option value) even if the tradional DCF(NPV) value is zero or negative. This paper reviews some of the deficiencies of traditional DCF and more realistic modelling of uncertainty(risk) and flexibility.