This research conducts a meticulous examination of the determinants influencing dividend payout dynamics among firms listed on the Korean Stock Exchange (KSE) from 1995 to 2021, a period characterized by profound economic fluctuations. By leveraging a dynamic panel data model and the Generalized Method of Moments (GMM) for estimation, the study addresses endogeneity concerns while exploring the effects of firm-specific and macroeconomic variables on dividend yields. The investigation delineates three distinct economic phases: normal conditions, financial crises, and the aggregate study period, facilitating a granular understanding of firms’ dividend payout adaptability under varying economic landscapes. Empirical findings underscore the persistence of dividend payments, revealing a variable adjustment speed toward target dividend yields contingent upon the economic context, with an expedited adjustment observed during crises. Crucially, firm profitability emerges as a consistent determinant of dividend yields across all examined periods, whereas the influence of macroeconomic variables is notably more pronounced during periods of economic normalcy. This research elucidates the complex interplay between internal corporate strategies and external economic pressures in shaping dividend policies, thereby enriching the discourse on dividend payout behavior in the context of Korea’s economic evolution from an emerging to a developed market.
Although reengineering is strategically advantageous fororganisations in order to keep functional and sustainable, safety must remain apriority and respective efforts need to be maintained. This paper suggeststhe combination of soft system methodology (SSM) and Pareto analysison the scope of safety management performance evaluation, and presents theresults of a survey, which was conducted in order to assess the effectiveness,efficacy and ethicality of the individual components of an organisation’s safetyprogram. The research employed quantitative and qualitative data and ensureda broad representation of functional managers and safety professionals, whocollectively hold the responsibility for planning, implementing and monitoringsafety practices. The results showed that SSM can support the assessment ofsafety management performance by revealing weaknesses of safety initiatives,and Pareto analysis can underwrite the prioritisation of the remedies required.The specific methodology might be adapted by any organisation that requires adeep evaluation of its safety management performance, seeks to uncover themechanisms that affect such performance, and, under limited resources, needsto focus on the most influential deficiencies.
Risk matrices have been widely used in the industry under the notion that risk is a product of likelihood by severity of the hazard or safety case under consideration. When reliable raw data are not available to feed mathematical models, experts are asked to state their estimations. This paper presents two studies conducted in a large European airline and partially regarded the weighting of 14 experienced pilots’ judgment though software, and the calculation of agreement amongst 10 accident investigators when asked to assess the worst outcome, most credible outcome and risk level for 12 real events. According to the results, only 4 out of the 14 pilots could be reliably used as experts, and low to moderate agreement amongst the accident investigators was observed.
