• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.1
• /
• pp.243-248
• /
• 2014

This study was carried out to evaluate the economic value of development of separation and purification techniques of flavonoid in citrus using IRR, NPV. The separation and purification techniques of flavonoid of citrus was developed by national institute of horticultural and herbal science in Korea rural development administration. This technology could be used to improve efficiency and practicality of cultivation of citrus. The research results show that the technological value of separation and purification techniques of flavonoid of citrus was evaluated 3,155(scenario 1)~6,518(scenario 2) million won. IRR was 28.3%~61.2%, which was greater than discount rate(11.9%). NPV is 5,541~18,773 million won. Therefore, the economic validity of development of separation and purification techniques of flavonoid of citrus is identified by the results of technology evaluation.

• Journal of Climate Change Research
• /
• v.1 no.3
• /
• pp.219-226
• /
• 2010

This study is analyzed the financial feasibility of biomass power plant in China in terms of fuel marginal price of biomass power plant. The range of fuel price is 150~300 RMB and IRR(Internal Rate of Return), NPV(Net Present Value), DSCR(Debt Service Coverage Ratio) and operation time are analyzed by 10 RMB from 150 RMB. The sensitivity of IRR went down by 1.35 on average. The sensibility of NPV showed big difference by 20% on 260 RMB and 270 RMB. In addition, DSCR of loan is at 1.0 at raw cost of 242 RMB and at lower than 1.0 when the raw cost over 242 RMB. It means that the pay-off of principal and interest of the loan is expected to be difficult in that case. The operation time of power plant should be 88% against standard operation time to maintain over 1.0 of DSCR. Therefore, the factors affecting the cost of raw material to build the power plant and to operate it should be prioritized.

• Journal of Korea Port Economic Association
• /
• v.37 no.1
• /
• pp.1-18
• /
• 2021

A coastal marine ranching project in Uleungdo had been conducted for 5 years from 2013 to 2017 with investment costs of 5 billion won, for the special purpose of the deployment of artificial reefs, the release of young fishes. The paper focuses on an ex-post analysis of the economic feasibility for the project after completing the project, which is apart from a preliminary viability. For economic analysis, the economic benefits are derived from direct benefits including increasing effects of fisheries income and saving effects of harvesting costs, and indirect benefits including increasing effects of recreational fishing and preservation effects of coastal marine ecosystems while economic costs include releasing and purchasing costs of artificial reef and juvenile fish, R&D costs, maintenance costs and harvesting costs. The result shows that the project should not be accepted according to NPV=-0.125 billion won, IRR=4.5% and B/C ratio=0.98 under Scenario 1 which considers direct benefits and indirect benefits excluding the preservation values, while the project should be accepted under Scenario 2 indicating NPV=30.9 billion won, IRR=11.3% and B/C ratio=1.49 which considers the direct benefits as well as the indirect ones including the preservation values, based on 4.5% of the social rate of discount.

• Korean Chemical Engineering Research
• /
• v.48 no.1
• /
• pp.39-44
• /
• 2010

Economic feasibility of power generation system using waste woody biomass in a circulating fluidized bed combustor has been investigated. Effects of important variables such as capital investment, cost of waste wood, certified emission reduction(CER), system marginal price(SMP) on the benefit of business have been analyzed. Internal rate of return(IRR) was predicted as 16.67%, which implicates the business is promising based on the assumptions such as SMP of 99 Won/kWh, capital cost of 10.65 billion won, and complimentary providing of waste wood. Major factors affecting the benefit of business were as follows; system marginal price, operational rate, capital investment, expenditure of waste wood, certified emission reduction. In addition, it must be necessary to consider CHP power plant providing steam as one of the means to diversify sales network, for the management of the business risk.

• Journal of the Korean Institute of Gas
• /
• v.25 no.4
• /
• pp.19-26
• /
• 2021

In this paper, we carried out the process modelling and economical analysis of the 500 kg-H₂/d-class green hydrogen production system process based on biomethane from the Food Bio Energy Center in Chungju. As a result of economic analysis, the NPV(Net present value) after 15 years of operation is 3.831 billion won, the PI(Profitability index method) is 1.42. It was found that the project of 500 kg-H₂/d-class green hydrogen production system has a 20.25% of IRR, which is higher than social discount rate of 4.5% and feasibility is ensured.

• Journal of Korean Library and Information Science Society
• /
• v.43 no.1
• /
• pp.287-301
• /
• 2012

This article analyzes the costs and benefits of the seven individuals centers of Foreign Research Information Center. Results of the investment feasibility analysis based on 30 years time span show that 0.99 of BCR (Benefit-Cost Ratio), 5.49% of IRR (Internal Rate of Return), and -507 million Won of NPV (Net Present Value). Sensibility analysis suggests that BCR can be influenced by the journal usage, social rate of discount, and elimination of the duplicate journal among individual centers.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.31 no.6D
• /
• pp.771-778
• /
• 2011

Preliminary feasibility study on Busan metro line #1 in Yangsan line (Nopo-Bukjeong) depending on active volume of mass transportation between Yangsan city and Busan city was conducted. As the study concluded that it's valid, the necessity to establish the metro railroad network connecting to Busan, Ulsan and Gyeongnam Province is demanded to improve the transportation issues in Ungsang area vulnerable to metro service and to drive the balanced development between metropolitan cities. In addition, the volume of transportation depending on methods in target areas and road traffic assignment are surveyed to put a stress on the necessity to establish the metro railroad network. As the demand of transportation for alternative lines is predicted, the budget and benefits for construction for each alternative line set for the rough economic analysis depending on traffic volume for each method and traffic assignment results. The total project budget necessary for construction of proposal line #1 set as effective one among target three lines in this project is calculated in 794.32 billion won. Construction accounts for the most expensive in expenses for project and contingency allowances, purchases for vehicles and collateral expense are followed in orders. However, compensation for lands is not counted. In particular, according to economic analysis in proposal #1, ratio of benefit/cost (B/C) is 0.584, net present value (NPV) is -217.47 billion won, the internal rate of return (IRR) is analyzed in 0.604 %. At the current stage, it is not economically feasible, but the B/C is 0.737 in long-term upon construction of Yangsan line between Wolpheong and Yongdang which is proposal line #3. Therefore, when Busan metro basic plan is reorganized to aim the benefit of residents in Ungsang area vulnerable to the metro service, we think it must be necessary to establish the metro railroad network connecting to Busan-Yangsan-Ulsan which is proposal line #2 by extending the existing Sinjeong line and including this task line in high-ranked plan related to metro railroad.

• Proceedings of the Korea Contents Association Conference
• /
• 2008.05a
• /
• pp.343-347
• /
• 2008

There are two kind of system in hotel for evaluating management. the first is infra system, for example Front management system - reservation system, C/I, C/O system, POS system , web system, call center management -, Back office system, interface system, and so on which manage direct control for hotel, and next is strategic system, for example BSC , CS . which is supporting hotel management. The purpose of this study was to find using the Balanced Scorecard to evaluate hotel management perfomance. Management performance is based on productivity, quality, time, effect, and responsiveness. Hotel economic value is not equal visual asset which is measured financial value. It is include hotel brand, image, customers who have good loyalty, employees who give customers special service, and systems which was affected by internal process. In conclusion, innovation, growth, internal system process, empioyee and customer have effect hotel performance. Therefore hotel has to know non-financial performance which has positively relate to financial performance.

• Journal of Navigation and Port Research
• /
• v.43 no.4
• /
• pp.264-272
• /
• 2019

In this study, the rate of return on investment used as a proxy variable for the entity's value and financial structure (liability ratio) is related to positive balance. This is consistent with the Static Tradeoff Theory (STT) that the entity's value and financial structure are related to a positive balance because the capital expense of a debt (tax-saving effects) that is less than its equity cost before it is in financial difficulty. Also, operating profitability (EBITDA/Sales), investment safety, total asset growth, net working capital and depreciation expenses are related to negative (-) with financial structure (liability ratio). This is the result of an analysis consistent with the Pecking Order Theory (POT). Fuel costs, borrowing, total asset turnover, financial costs, and tangible asset ratios have a significant positive relationship with the debt ratio. This is consistent with the agency theory and confirms that excessive chartering expenses, such as the bankrupt H company, are the main factors that pressure the financial structure of Korean ocean carriers.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.12 no.7
• /
• pp.3062-3071
• /
• 2011

This study proposed to compare the performance differences between a manufacturing company and a construction company in accordance with the mutual relations and ownership structures with the management performance based on the increase or decrease of the large shareholders' share-holding ratio (insider ownership, foreign share-holding, institutional investors' share-holding) of a KOSPI listed company in Korea during 10 years(1998-2007). To sum up the research work, first, the increase of foreign share-holding supported the results of previous studies which foreign share-holding has a positive effect on the long term performance by having a positive(+) effect on MTB, and the increase of an insider ownership supported the management entrenchment hypothesis of previous studies by having a negative(-) effect on MTB. However, relations between institutional investors's share-holding and MTB could not find out linkages in spite of the results of previous studies where dealt with the active monitoring hypothesis. Also, to examine the linkages of ROA and the ownership structure, though the increases of foreign share-holding and insider ownership had a positive(+) effect on ROA, the increases of institutional investors' share-holding had a negative(-) effect on it. It showed different analysis results from the active monitoring hypothesis of institutional investors. As a result of verifying whether there is "any difference in the management performances between the construction industry and the manufacturing industry according to the equity structure" which is the second hypothesis, nothing of the insider ownership and whether or not there is the construction industry, foreign share-holding and whether or not there is the construction, and the institutional ownership and whether or not there is the construction industry gave a statistical difference to MTB and ROA. Accordingly, it was possible to find out there is no difference in the management performance between the construction industry and the manufacturing industry based on the ownership structure in spite of different characteristics from the manufacturing industry such as the revenue recognition in ordering, production and accounting.