Purpose: The purpose of this study was to examine the relationship between portfolio quality and financial sustainability of microfinance institutions in Kenya. Research Design, Data, and Methodology: The analysis was based on a panel dataset of 30 microfinance institutions for the period of 2010 to 2018. Data was obtained from the Microfinance information exchange (MIX) database, and it was analyzed through descriptive and inferential statistics with the aid of STATA. Based on the results of the Hausman test, the study adopted the fixed effect regression model to test the research hypothesis. Results: The study found that portfolio quality had a positive significant effect on financial sustainability of Microfinance institutions in Kenya (β= 0. 211; p-value < 0.05). For the control variables; firm age had a positive effect (β= 0.773; p-value <0.05), while firm size (β= -0. 749; p-value < 0.05) had a negative effect on financial sustainability. Conclusions: The study concluded that portfolio quality has an important influence on the financial sustainability of microfinance institution. The study recommends that managers of microfinance institutions should devise good collection policies to improve portfolio quality while lessening loan default rate. The portfolio quality may improve the overall profitability and enhance investor confidence in their strategic decision-making on refinancing.

This study empirically analyzes how the career orientation factors of startup entrepreneurs affect entrepreneurial satisfaction as well as business sustainability. We propose directions for startup sustainability and development. Based on previous research, we defined the career orientation of entrepreneurs through the five orientation factors of security, autonomy, technical competence, managerial competence, and entrepreneurial creativity. We constructed a research model to determine whether these factors have a causal relationship with entrepreneurial satisfaction or business sustainability through the medium of organizational entrepreneurship. We surveyed startups in Korea using a questionnaire and collected and analyzed a total of 282 points of survey data. The analysis results demonstrated that the entrepreneurial creativity and managerial competence of the members of a startup can play an important role within entrepreneurial satisfaction and business sustainability. Both autonomy and technical competence exhibited no effect on entrepreneurial satisfaction and business sustainability through the medium of entrepreneurship, while security showed a negative effect. In order to improve entrepreneurial satisfaction and achieve business sustainability, we confirmed that it was more important for startups to consider the creativity and business management competences of entrepreneurs rather than pursue business security or have a technology-oriented attitude.

This study aims to utilize big data contents of news and social media for developing a corporate strategy of multinational enterprises and their global decision-making through the data mining technique, especially text mining. In this paper, the data of 2 news media (BBC and CNN) and 2 social media (Facebook and Twitter) were collected for the three global leading Korean companies (Samsung, Hyundai Motor Company, and LG) from April, 2018 to April, 2019. The findings of this paper have shown that traditional news media and also modern social media have become devastating tools to extract global trends or phenomena for businesses. Moreover, this presents that a company can adopt a two-track strategy through two different types of media by deriving the key issues or trends from news media channels and also grasping consumers’ sentiments, preference or issues of interest such as battery or design from social media. In addition, analyzing the texts of those media and understanding the association rules greatly contribute to the comparison between two different types of media channels to see the difference. Lastly, this provides meaningful and valuable data empowered insights to find a future direction comprehensively and develop a global strategy for sustainability of business.

The purpose of this study is to discover the interaction between credit growth and operational self-sustainability and to examine factors that affect credit growth and operational self-sustainability of people's credit funds (PCFs). Credit growth and operational self-sustainability are factors affecting the operations and the goals of people's credit funds (PCFs) in the Mekong Delta region of Vietnam. After regression analysis on a set of panel data from 2013 to 2018 of 24 PCFs, it appears that deposit growth and loan-to-deposit ratio have positive relationships with credit growth, while capital adequacy ratio and operational self-sustainability have negative relationships with credit growth of PCFs; capital adequacy ratio, deposit growth and income have positive relationships with operational self-sustainability, while credit growth and non-performing loan ratio have negative relationships with the operational self-sustainability of PCFs. At the same time, credit growth and operational self-sustainability have a relationship to interact with each other in a contrary trend. The results of this research are accurate according to the characteristics and development history of PCFs in the Mekong Delta region of Vietnam from 2013-2018. This study helps researchers and managers to understand the key determinants for better management of PCFs.

본 연구는 윤리적 패션으로서 업사이클링 패션 브랜드의 지속가능성을 살펴보고 패션 산업의 지속가능한 발전 가능성을 모색하고자 하는 것이다. 본 연구의 목적은 첫째, 지속가능한 발전에 대한 관심에 따라 윤리적 패션, 국내 업사이클링 패션 브랜드에 대한 개념과 특성을 이해한다. 둘째, 윤리적 패션으로서 지속가능한 발전을 위한 국내 업사이클링 패션 브랜드의 현황과 사례를 살펴본다. 셋째, 국내 업사이클링 패션 브랜드 5곳을 선정하여 윤리적 패션으로서 국내 업사이클링 패션 브랜드의 지속가능한 발전 특성을 도출한다. 윤리적 패션으로서 국내 업사이클링 패션 브랜드의 지속가능성은 첫째, 사회적 지속가능성에서 패션 취업 교육 및 훈련이나 교육서비스 제공을 통해 업사이클링에 관한 정보를 제공하여 사회적 책임을 독려하는 사회적 가치를 추구할 수 있는 것으로 나타났다. 이는 지속가능성이라는 공공의 가치를 높이며 사회적 공동체의 이익 실현하여 지역사회 발전에 기여하는 사회적 지속가능성을 실천하는 것이다. 둘째, 경제적 지속가능성은 국내 업사이 클링 패션 브랜드의 일자리 제공이나 협력 업체와의 공정 및 공동 경제 활동을 통해 시장 경쟁력을 확보하여 경제적 이익 창출로 나타났다. 셋째, 환경적 지속가능성은 업사이클링 브랜드의 창의적인 패션디자인 제안, 개선된 품질, 친환경 및 고기능성 소재 사용에 대한 미래 환경 관심으로 나타났는데, 이는 환경보호운동 같은 캠페인과 천연소재 및 기능성 소재를 활용을 제시하여 지속가능한 패션 산업을 위한 미래 환경의 중요성을 강조할 수 있다.

The paper aims to combine balance sheet analysis at the firm level with the International Monetary Fund’s public debt sustainability assessment framework to assess state-owned enterprises’ (SOE) leverage as a contingent liability to the public sector. Based on company data and the interest coverage ratio as a measure of debt at risk, aggregate baseline scenarios are projected to gauge the magnitude of SOE debt as a contingency. SOE’s financial and debt ratios are first bootstrapped to generate firm-level distributions and then averaged into a fan chart of the economy-wide SOE contingent liability. Applied to the People’s Republic of China as an example, the study finds that by the end of 2015 SOE leverage had grown to a substantial liability. However arbitrary the assumptions underlying these projections, it would appear that even if authorities had to mop up as much as 20% of SOE debt at risk gone bad, this would have been manageable at roughly 2.7% of the gross domestic product in 2016 or 5.5% by 2021. This projection framework is fully amenable to alternative assumptions and settings, which makes it a useful analytical tool to monitor contingent liabilities from non-financial corporate debt that have been building in emerging and advanced economies alike.

The residential population of Jeju Island has increased more than 10% for last 10 years. Especially, the tourist population is more than twice comparing to 2005. The population growth of Jeju has brought about large-scale urban development and increased land demands for tourism services. The goal of this study is to analyze the human, social, and environmental status of Jeju Island and to evaluate the environmental capacity of land use using ecological footprint (EF) model. This study shows the changes in ecological deficits of Jeju Island through estimating ecological productive land (EPL) considering EF from 2005 to 2015. The categories of total EF consists of food land, built-up land, forestry, and energy consumption. In order to reflect the characteristics of resort island, we consider not only residential population but also tourist population who can increase land demands. The outputs of this study also provide the potential excess demands of EPL and suggest needs of sustainable management plans for the limited land of Jeju Island.

The article compares economic and environmental performance of Taipei and Almaty from the point of view of "green" economy, which is able to act as a key tool to ensure sustainable development of the region. As the comparison of the parameters of ecological and economic development of the Taipei and Almaty cities shows, they are similar in population size, but demonstrate completely different trends of sustainable development. Economic performance of the Taipei city is achieved with a decrease in the consumption of natural resources and the production of pollution, while the situation in Almaty is the opposite. Almaty maintains a high level of air pollution due to the use of coal in electricity production, as well as increased traffic and density of construction, including the southern part of the city, which is a zone for the transit of mountain air flows. The article discusses the activities jointly conducted by the Government of Taiwan and non-governmental organizations on environmental issues, as well as environmental NGOs, which resulted in significant improvements in the environmental field. Measures to stimulate the development and implementation of environmental innovations applied in the field of sustainable development in the city of Taipei can be adapted for the city of Almaty, where the environmental situation deteriorates year by year.

This research is carried out to investigate the relationship between sustainability practices and performance in a financial sense for Malaysian Oil and Gas sector. Objectives include to study the state of sustainability disclosure among Malaysian oil and gas companies, to understand if companies that practiced sustainability had better performances to their financial bottom-line and to conduct a data analysis to understand the relationship between Environmental, social and governance performance [represented by the acronym ACSI] and financial performance. Sustainability performance is measured using ACSI checklist, which is an adaptation of the GRI 3.0 by Global reporting initiative while financial performance was measured on financial and profitability parameters namely EBITDA, EPS and PE ratio. Secondary data sources are used which were then converted into a rating scale to develop quantitative data. SPSS 21 is used for the analysis. The result shows that the majority of oil and gas companies in Malaysia had poor performance in terms of sustainability disclosure. On all three chosen profitability parameters, the companies that practiced sustainability were found to perform better than their counterparts that did not. Strong and significant relationship exists between sustainability practices and better financial performance.

우리나라에서 항만은 국가전체 교역 물동량의 90% 이상을 처리하고 있어 경제적 중요성이 높으며, 항만건설에 대한 막대한 투자 와 국가경쟁력에 미치는 영향을 고려한다면 항만의 지속가능한 운영은 중요한 이슈이다. 하지만 항만의 경쟁력과 지속가능성을 다룬 기존의 연구들은 항만의 시설규모, 항만효율성 등의 항만 내 물류활동을 중심으로 연구가 이루어져 외부환경변화에 대처하고 중장기적인 지속가능한 경쟁력을 확보하기 위해서는 항만이용자들의 기대와 요구뿐만 아니라 지역사회 및 환경적 요인 등의 외부적인 환경변화를 고려한 항만경쟁 력 확보 방안에 관한 연구가 필요한 시점이다. 이에 본 연구에서는 주변지역과 경제적, 사회적, 환경적 연결성을 가지고 있는 항만의 지속가 능한 경쟁력 확보를 위한 유럽연합(EU)의 SuPorts와 PPRISM 사례를 분석하여 외부환경변화, 공급사슬 내 성과를 고려한 중장기적인 관점 에서의 성과측정지표 개발의 필요성과 항만별 특성에 맞는 평가기준의 필요성, 국내실정에 맞는 항만의 지속가능한 성과측정 방안에 대한 시 사점을 도출하였다.

파우더 베이스 메이크업 제품은 피부에 도포되어 8 ∼ 12시간 동안 부착되며 피부에서 분비되는 땀이나 피지 등의 분비물에 의해 화장막이 변화된다. 따라서 메이크업 화장의 지속성은 중요한 품질 요소 중 하나이며 평가도 중요하다. 본 연구는 파우더 제품에서 지속성 평가를 위해 여러 가지 방법으로 파우더 반제품의 흡수, 흡유, 발수, 발유 등의 특성을 측정해보고 객관적인 평가 방법과 비교하여 연관성을 확인하여 지속성 평가 시 중요한 파우더의 특성을 살펴보았다. 또한 평가조건(땀과 피지 분비량 차이, 기온 및 습도 등)에 크게 영향을 받지 않으면서 지속성을 예측할 수 있는 간단한 방법을 검토해보았다. 타정 흡유도와 모세관법 및 침지법 등으로 반제품의 흡수, 흡유, 발수, 발유 특성을 측정해본 후 색차계와 ROBO skin analyzer 데이터와 비교하였다. 그 결과 흡수, 발유 특성보다는 흡유와 발수 특성이 지속성과의 연관성이 크다는 것을 확인할 수 있었고 흡유, 발수 특성을 확인하는 것으로 빠르고 손쉽게 지속성에 대한 예측이 가능하리라 생각되었다. 그 중 흡유 특성은 타정 흡유도와 모세관법이, 발수 특성은 침지법이 지속성에 대한 상대평가 방법으로 유용할 것이라고 판단되었다.

캄보디아 개신교회는 1923년 CMA로부터 시작되었으며, 2012년 현재, 2,697개의 교회와 168,887명의 신도로 성장하였다. 이는 캄보디아 국민의 1.19%에 해당한다. 그러나 90년의 선교역사에도 불구하고 캄보디아 개신교회는 자치, 자립, 자전 그리고 자신학화의 기준으로 볼 때, 온전히 자립된 교회라고 보기 어려우며 또한 교회의 지도력을 스스로 발휘하고 있다고 보기 어려운 실정이다. 캄보디아 개신교회의 몇 교단/선교단체별 자립과 지도력 이양의 사례는 다음과 같다. 1. CMA/KEC: 1923년부터 약 50년 동안 캄보디아 선교를 주도하였으며, 전도와 교회개척 사역을 주로 하였다. 1948년에는 현지 교단 KEC가 조직되었으며, 현재 선교단체인 CMA와 협력하고 있다. 2. OMF 캄보디아: 1973년에 캄보디아 사역을 시작하였으며, OMF 캄보디아 내 한인 선교사들의 교회 설립과 함께 교회 자립과 지도력 이양에 대한 이론적 근거를 마련하였다. 3. 캄보디아 침례교회: 1990년부터 시작된 현지인 사역자 중심의 교회개척운동을 통해 한때 캄보디아에서 가장 큰 개신교단을 형성하였으나, 여러 시행착오와 함께 체계적인 교회 자립과 지도력 이양에는 한계를 드러내었다. 4. 캄보디아 감리교회: 2003년, 네 개의 외국 감리교선교부가 MMC로 통합되면서 캄보디아 감리교회가 시작되었으며, 보다 더 온전한 교회의 자립과 지도력 이양의 시점은 2016년, 정식연회가 조직되고 캄보디아인 감독이 세워지는 때로 보고 있다. 5. 캄보디아 장로교회: 2003년, 7개 한국 장로교단 선교사들이 캄장공을 조직하였으며, 2013년, 독노회를 설립함으로 캄보디아인 목사와 장로가 참여하였다. 보다 더 온전한 교회의 자립과 지도력 이양의 시점은 2020년, 총회를 조직하는 때로 보고 있다. 교회 자립과 지도력 이양을 위해서는 외국인 선교사와 현지 교회 그리고 후원 교회/단체 각자가 맡은 역할이 있는데, 가장 중요한 역할은 외국인 선교사가 갖고 있다. 캄보디아 개신교회의 자립과 지도력 이양을 위한 방안 세 가지는 다음과 같다. 1. <MK 2021> 참여: 캄보디아 개신교회가 하나 되지 못할 경우, 캄보디아 개신교회의 자립과 지도력 이양은 더욱 멀어질 수 있다. 아울러 아직도 캄보디아 전국에 교회가 세워지지 않은 마을이 80%인데, 2021년까지 모든 마을에 교회를 세우려는 이 운동에 캄보디아 내의 모든 개신교회와 교단/선교단체가 초교파적으로 참여해야 한다. 2. 선교적 교회론의 연구와 적용: 전통적이고 제도적인 교회가 아닌 성경에서 말하는 교회의 본질인 선교적 교회론을 연구하며, 그러한 교회가 세워지도록 노력해야 한다. 3. 선교사와 목회자의 바른 역할: 외국인 선교사의 역할은 전도와 훈련 사역으로 현지인 목회자를 돕는 것이며, 현지인 목회자의 역할은 직접 교회를 설립하고 목회하는 것이다.

지구온난화와 기후변화에 의한 수문사상의 불확실성이 커지고 있는 점을 고려하여 수자원의 지속가능성은 매우 중요한 과제로 대두되고 있다. 본 연구는 우리나라 주요 다목적댐을 대상으로 지속가능성지수를 이용하여 용수공급 이행도를 평가하였다. 수자원시스템 용수공급 평가에 많이 활용되고 있는 지표들을 대상으로 적용성과 유연성을 고려하여 선정하고, 선정된 매개변수로 구성된 복합지수를 이용하여 통합적으로 평가하는 방식이다. 실질적으로 신뢰도, 회복도, 취약도 및 최대물부족도 등을 기초 매개변수로 댐의 용수공급 지속가능성지수를 구성하고 15개 다목적댐을 대상으로 개별 댐과 유역별로 평가하였다. 평과결과, 금강유역의 대청댐과 낙동강 유역의 임하, 합천 및 남강댐이 취약한 것으로 나타났으며, 유역은 낙동강 유역이 가장 취약하여 용수공급 안전도 향상을 위한 대응방안이 필요한 것으로 분석되었다.

「Special Act for the Safety Control of Public Structures」is for the periodical inspection and maintenance on the main structures. It is based on the reactive measures for the found faults and the maintenance budget is allotted with a ceiling. Therefore decision makers cannot establish long-term strategies and connot consider the serviceability from a user's point of view. The infrastructure maintenance system has to be renewed considering for the efficiency in the face to the rapid increase of the rate of deteriorated facilities.

Purpose - Micro-finance institutions (MFIs) are critical to Vietnam’s quest for poverty alleviation among the poor in the rural and agrarian communities. The current study attempts to investigate the impact of microfinance outreach programs undertaken by formal and semi-formal MFIs in Vietnam targeting the poor rural and agrarian communities. Research design, data, methodology - An enquiry was made as to whether the poor and rural communities accessed the micro credit offered by Government supported MFIs and NGOs through their microfinance outreach programs. Furthermore, the current study attempted to explore if the current mode of operations adopted by MFIs in Vietnam is sustainable. Results -The findings indicate that significant progress has been made in Vietnam to alleviate poverty among the poor rural communities through micro finance outreach programs. Conclusions - There are also pointers of MFIs sustainability in Vietnam. However, it still remains to be seen if the current sustainability pointers are long lasting without government subsidies or some international organizations financial support to microfinance outreach programs.

본 연구의 목적은 해양스포츠이벤트 유형별 지속가능성을 과학적으로 분석하여 경제, 사회 그리고 환경적으로 지속가능한 해양스포츠이벤트 개발 전략을 제시하기 위해 실시되었다. 이러한 연구목적을 달성하기 위해 해양스포츠이벤트 방문객 285명을 대상으로 설문조사를 실시하였다. 조사도구는 Oh(2003), Park(2009) 그리고 Song and Lee(2005)등의 선행연구를 토대로 본 연구의 상황에 맞게 요인 및 항목을 수정 보완하였으며 전문가에 의한 내용타당도 검증을 통해 조사도구의 타당성을 검증하였다. 일원변량분석(ANOVA)와 사후검증(Scheffe)을 통해 이벤트 유형별 지속가능성을 분석하였으며 다음과 같은 결론을 도출하였다. 첫째, 해양스포츠이벤트의 긍정적 지속가능성은 해양공간정비(M=3.82)가 가장 높았으며 고용창출(M=3.46)이 가장 낮게 나타났다. 반면 부정적 지속가능성은 교통정체(M=3.16)가 가장 높게 나타났으며 참가자와 주민 갈등(M=2.73) 항목이 가장 낮게 나타났다. 둘째, 해양스포츠이벤트 유형별 긍정적 지속가능성은 축제형 해양스포츠이벤트가 경제적(M=3.79), 사회적(M=3.84) 그리고 환경적(M=3.80) 지속가능성 요인 모두에서 긍정적 효과가 통계적으로 유의하게 높은 것으로 나타났다. 셋째, 해양스포츠이벤트 유형별 부정적 지속가능성은 통계적 유의도는 나타나지 않았으나 비지니스형이 경제적(M=3.22), 사회적(M=3.26) 그리고 환경적(M=3.25) 지속가능성 요인 모두에서 부정적 효과가 타 해양스포츠이벤트에 비해 상대적으로 큰 것으로 나타났다. 결론적으로 본 연구의 결과는 경제, 사회 및 환경적으로 지속가능성을 확보할 수 있는 해양스포츠이벤트 유형을 제시해 주고 있으며 해양스포츠이벤트의 지속가능한 개발 전략을 수립하는데 기초 자료를 제공하고 있다.

This is a study of a residential area for displaced villagers planned for residents of Gyodo Village who must evacuate their hometown because of flooding due to the Hantan River Dam Project. The study aims to construct a plan for a new residential area for the villagers focusing on reflecting the existing characteristics of their former village and on ensuring sustainability for the new village. Departing from previous practice of focusing on merely physical aspects when planning, the current study is significant in that it presents a new planning process and method for a sustainability-focused plan. While the study has many limitations such as objectivity in the process of deriving the sustainability indicators and the appropriateness of the indicator questions, it is hoped that future studies on sustainability will serve to make up for these limitations and problems.

Eco-village has been regarded as an alternative to accomplish sustainable development for rural village. This study has intended to develop comprehensive planning indicators to establish an eco-village based on such aspects of sustainable development as economy, environment, and society. To reach this objective, this study has set up six goals as follows: 1) ecological production activities for agriculture, 2) resource circulation and energy independence in the economic domain; 3) building cultural and historical succession and community activation, and 4) living together with surrounding regions in social domain; and 5) maintaining environmental habitat, and 6) restoring natural ecosystem in environmental domain. Based on these goals, this study has developed the planning indicators to build an eco-village through case study, literature review, survey for suitability, and factor analysis. This study has found 17 strategies and 47 planning indicators in accordance with the six goals.

This research was performed to simulate shellfish production systems and sales in Gamak Bay, South Korea. To study the way the shellfish system generates maxima, a numerical model was developed to simulate the model under a control and a number of different scenarios. The program calculates the EMERGY flows by multiplying the flows of energy and materials by the appropriate solar transformity. In this study, an energy systems model was built to simulate the variation of sustainability for oyster aquaculture. The results of the simulation based on 2005 data that as oyster production yield slightly increases, money and assets increase to a steady state. When the program is run control simulation, the system reaches carrying capacity after 8 years. The simulation of models with price of purchased inputs increased with 3.5% inflation rate per year showed maximum benefit of shellfish production occurs after 6 years but amounts are less than control simulation, and then decreases slightly in money and yield results. The results with 3.5% inflation and increase of oyster price annually showed steady and slightly increase of money and yield.

The objective of this research is to apply more scientific, quantitative methods and procedures of environmental investigation to the development of the natural environment and the improvement of the human environment during the establishment of a sewage treatment plant and special facilities using environmental accounting. This research was performed to develop a method of strategic environmental assessment on the operation of sewage treatment plant and reuse of shellfish seeding areas through the use of environmental accounting based on EMERGY evaluation. The result was applied to marine environment policy in order to evaluate the real wealth of the regional environment and economy for both the present phase and the proposed developed phase. Using results from the comparison of EMERGY indices between the present situation and future scenarios, cost benefit analysis was performed for three different scenarios: (1) construction of a new sewage treatment plant, (2) relocation and recovery of the shellfish seeding area , and (3) relocation and re-seeding of shellfish area and construction of a new sewage treatment plant. Cost-benefit ratios of the three scenarios are 1.88, 0.94, and 1.38, respectively.