Causes and Consequences of the Korean Financial Crisis

2000 ◽  
Vol 03 (01) ◽  
pp. 1-26 ◽  
Author(s):  
Dosoung Choi ◽  
Frank C. Jen ◽  
H. Han Shin
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Capital Markets ◽  
Business Sector ◽  
External Shocks ◽  
Business Risk ◽  
Short Term ◽  
The Past ◽  
Debt Capital

During the past decade, the profitability of Korean firms has declined significantly while their business risk has risen substantially. The deteriorating condition was largely due to excessive investments in manufacturing capacity that were financed mainly with short-term debt capital. The measures to restructure the system are summarized in two major thrusts: one, to reform corporate governance so that the business sector becomes more transparent and more value-enhancing; and two, to help develop long-term capital markets so that the domestic financial system becomes less vulnerable to external shocks.

The Influence of Growth, Asset Tangibility, Cost of Debt, Profitability and Business Risk On Debt Capital

2019 ◽  
Vol 4 (4) ◽  
pp. 120-127
Author(s):  
Erika Jimena Arilyn ◽  
Beny Beny
Keyword(s):  
Firm Growth ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Developed Countries ◽  
Jel Classification ◽  
Cost Of Debt ◽  
Market Condition ◽  
Business Risk ◽  
Debt Capital

Objective –The aims to identify the significant factors that influence a company’s decision to use debt capital. Methodology/Technique – This study uses 5 independent variables namely; firm growth (growth rate in total gross assets), asset tangibility (ratio of net fixed assets to total assets), cost of debt (interest before tax / long term debt), profitability (Earnings Before Interest and Taxes (EBIT) / Total Asset), and business risk (standard deviation of EBIT to total assets). The dependent variable in this study, debt capital, is measured by the ratio of long-term debt to total assets. A purposive sampling method is used to select 11 out of 18 textile and garment companies listed on the Indonesian Stock Exchange between 2014 and 2018 that report their annual financial positions. A quantitative method, panel data analysis technique and SPSS tools were also used in this study. Findings – The results show that debt capital is influenced by profitability, while the remaining factors do not influence debt capital. Novelty – This study adds to the existing literature on internal factors, market condition as an external factors, and debt capital in developed countries. The benefit of this study is to explore the potential capabilities of the industry in using its profit to minimize the use of debt as a source of capital to decrease business risk. Type of Paper: Empirical Keywords: Profitability; Growth; Cost of Debt; Business Risk; Tangibility; Capital Structure. Reference to this paper should be made as follows: Ariyln, E., J; Beny; 2019. The Influence of Growth, Asset Tangibility, Cost Of Debt, Profitability and Business Risk On Debt Capital, Acc. Fin. Review 4 (4): 120 – 127 https://doi.org/10.35609/afr.2019.4.4(4) JEL Classification: G23, G32.

Impact of FII’s and FDI’s on Indian Stock Market

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dr. Kamlesh Kumar Shukla
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Global Economy ◽  
Short Term ◽  
Earnings Growth ◽  
The Past ◽  
Bull Market ◽  
Indian Stock Market

FIIs are companies registered outside India. In the past four years there has been more than $41 trillion worth of FII funds invested in India. This has been one of the major reasons on the bull market witnessing unprecedented growth with the BSE Sensex rising 221% in absolute terms in this span. The present downfall of the market too is influenced as these FIIs are taking out some of their invested money. Though there is a lot of value in this market and fundamentally there is a lot of upside in it. For long-term value investors, there’s little because for worry but short term traders are adversely getting affected by the role of FIIs are playing at the present. Investors should not panic and should remain invested in sectors where underlying earnings growth has little to do with financial markets or global economy.

Proactive Law as Competitive Advantage in Crowdfunding

2020 ◽  
pp. 861-881
Author(s):  
Jack Wroldsen
Keyword(s):  
Corporate Governance ◽  
Intellectual Property ◽  
Competitive Advantage ◽  
Competitive Advantages ◽  
Business Law ◽  
Short Term ◽  
Proactive Approach ◽  
Governance Challenges ◽  
Tax Efficiency

This chapter explains how the paradigm of proactive law as competitive advantage can help entrepreneurs succeed in crowdfunding campaigns. Business law scholars have developed theories of “proactive law” and “law as competitive advantage” to show how law can be transformed from an obstacle into a strategic business advantage. This chapter analyzes the evolving crowdfunding landscape through the lens of proactive law as competitive advantage. The chapter proposes several types of innovative securities designed to create competitive advantages in crowdfunding offerings. For example, one type would give crowdfunding investors long-term equity interests while simultaneously eliminating short-term corporate governance challenges for small crowdfunded companies. Apart from securities, the chapter also describes how a proactive approach to law can enhance crowdfunding campaigns in multiple areas, from intellectual property to tax efficiency. To conclude, the chapter suggests expanding the theory of proactive law as competitive advantage to additional areas of entrepreneurship, beyond crowdfunding.

Afterword

2021 ◽  
pp. 244-248
Author(s):  
Michael J. Rosenfeld
Keyword(s):  
Social Change ◽  
Gay Rights ◽  
Marriage Equality ◽  
Short Term ◽  
The Past ◽  
The Many ◽  
The U.S ◽  
The Way

Gay rights and marriage equality have advanced so far in the U.S. in the past decade that it would be all too easy to assume that the struggle is over. The opponents of gay rights, however, remain powerful. Readers can take inspiration from how dramatically attitudes toward gay rights have liberalized in the past two decades and how transformative the liberalization of attitudes has been. We live in a world where political lies often seem to have the upper hand. It is worth remembering that despite the many short term advantages that lies can yield in politics, the truth has some long term advantages as well. The way the marriage equality movement prevailed should be a lesson to anyone who wants to make progressive social change.

Proactive Law as Competitive Advantage in Crowdfunding

2020 ◽  
pp. 1107-1127
Author(s):  
Jack Wroldsen
Keyword(s):  
Corporate Governance ◽  
Intellectual Property ◽  
Competitive Advantage ◽  
Competitive Advantages ◽  
Business Law ◽  
Short Term ◽  
Proactive Approach ◽  
Governance Challenges ◽  
Tax Efficiency

This chapter explains how the paradigm of proactive law as competitive advantage can help entrepreneurs succeed in crowdfunding campaigns. Business law scholars have developed theories of “proactive law” and “law as competitive advantage” to show how law can be transformed from an obstacle into a strategic business advantage. This chapter analyzes the evolving crowdfunding landscape through the lens of proactive law as competitive advantage. The chapter proposes several types of innovative securities designed to create competitive advantages in crowdfunding offerings. For example, one type would give crowdfunding investors long-term equity interests while simultaneously eliminating short-term corporate governance challenges for small crowdfunded companies. Apart from securities, the chapter also describes how a proactive approach to law can enhance crowdfunding campaigns in multiple areas, from intellectual property to tax efficiency. To conclude, the chapter suggests expanding the theory of proactive law as competitive advantage to additional areas of entrepreneurship, beyond crowdfunding.

Are Biopharmaceutical Budget Caps Good Public Policy?

2016 ◽  
Vol 13 (1) ◽  
Author(s):  
Dana P. Goldman ◽  
Darius N. Lakdawalla ◽  
James R. Baumgardner ◽  
Mark T. Linthicum
Keyword(s):  
Cost Savings ◽  
Healthcare Spending ◽  
Short Term ◽  
The Past ◽  
Long Run ◽  
The Status ◽  
Pharmaceutical Spending ◽  
Health Returns ◽  
New Research

AbstractMedical innovation has generated significant gains in health over the past decades, but these advances have been accompanied by rapid growth in healthcare spending. Faced with a growing number of high-cost but high-impact innovations, some have argued to constrain prices for new therapies – especially through global caps on pharmaceutical spending and limits on prices for individual drugs. We show that applying this threshold to past innovations would have limited access to many highly valuable drugs such as statins and anti-retrovirals. We also argue that budget caps violate several important principles of health policy. First, budget caps treat healthcare spending as a consumption good, like going to a movie or buying a meal. However, healthcare spending should be viewed as an investment, whose benefits accrue over many years – much like spending on education. Second, budgetary cost is a poor indicator of value, thereby distorting coverage decisions. Third, affordability arguments often use a short-term horizon, thereby missing that long-term health is society’s ultimate goal. Fourth, assessments of benefit should incorporate not just the immediate clinical benefit to patients, but also long-term health improvements, cost savings, and increased productivity. Fifth, global budget caps arbitrarily anchor spending on the status quo, thereby setting too stringent a threshold for socially-desirable innovation. In sum, a solitary focus on short-term costs can be detrimental to population health in the long-run. When medical treatment decisions are properly viewed as investments, budget caps are not the answer; rather, we need to find mechanisms to encourage spending decisions based on long-term value. Only then can we generate health returns to societal investments, while also encouraging the new research and development necessary to extend the gains of recent decades.

Afghanistan-US Relations

2019 ◽  
Author(s):  
Paul D. Miller
Keyword(s):  
Strategic Partnership ◽  
Terrorist Attacks ◽  
Short Term ◽  
Global Response ◽  
The Past ◽  
Thrust Front ◽  
Past Half Century ◽  
Partnership Agreement ◽  
Past Half

Afghanistan has twice been thrust front and center of US national security concerns in the past half-century: first, during the Soviet-Afghan War, when Afghanistan served as a proxy for American efforts to combat Soviet influence; and second, as the frontline state and host for America’s global response to al-Qaida’s terrorist attacks of 2001. In both instances, American involvement swung from intensive investment and engagement to withdrawal and neglect. In both cases, American involvement reflected US concerns more than Afghan realities. And both episodes resulted in short-term successes for American security with long-term consequences for Afghanistan and its people. The signing of a strategic partnership agreement between the two countries in 2012 and a bilateral security agreement in 2013 created the possibility of a steadier and more forward-looking relationship—albeit one that the American and Afghan people may be less inclined to pursue as America’s longest war continues to grind on.

scholarly journals Kenyan Universities: On the Brink of Financial Insolvency

2019 ◽  
pp. 25-27
Author(s):  
Ishmael Munene
Keyword(s):  
Higher Education ◽  
Financial Crisis ◽  
National Level ◽  
Entire System ◽  
Policy Changes ◽  
Short Term ◽  
Institutional Level ◽  
Financial Governance

The financial crisis engulfing Kenyan universities has impacted operations and raised doubts about long-term sustainability. This crisis has a double impetus: at the national level, policy changes impacting the entire system, and at the institutional level, challenges in terms of financial governance. A short-term solution requires an immediate infusion of cash, but a long-term strategy entails a multipronged reform in the financing of higher education at national and institutional levels.

scholarly journals Control and remediation methods for eutrophic lakes in the past 30 years

2020 ◽  
Vol 81 (6) ◽  
pp. 1099-1113 ◽  
Author(s):  
Yuan Zhang ◽  
Pingping Luo ◽  
Shuangfeng Zhao ◽  
Shuxin Kang ◽  
Pengbo Wang ◽  
...  
Keyword(s):  
New Technologies ◽  
Management Strategies ◽  
Cyanobacterial Blooms ◽  
Small Scale ◽  
Short Term ◽  
Eutrophic Lakes ◽  
Lake Ecosystems ◽  
The Past ◽  
Incomplete Removal

Abstract Accelerated eutrophication, which is harmful and difficult to repair, is one of the most obvious and pervasive water pollution problems in the world. In the past three decades, the management of eutrophication has undergone a transformation from simple directed algal killing, reducing endogenous nutrient concentration to multiple technologies for the restoration of lake ecosystems. This article describes the development and revolution of three remediation methods in application, namely physical, chemical, and biological methods, and it outlines their possible improvements and future directions. Physical and chemical methods have obvious and quick effects to purify water in the short term and are more suitable for small-scale lakes. However, these two methods cannot fundamentally solve the eutrophic water phenomenon due to costly and incomplete removal results. Without a sound treatment system, the chemical method easily produces secondary pollution and residues and is usually used for emergency situations. The biological method is cost-effective and sustainable, but needs a long-term period. A combination of these three management techniques can be used to synthesize short-term and long-term management strategies that control current cyanobacterial blooms and restore the ecosystem. In addition, the development and application of new technologies, such as big data and machine learning, are promising approaches.

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