• Korean Journal of Construction Engineering and Management
• /
• v.13 no.2
• /
• pp.91-101
• /
• 2012

In planning phase of Public Multi-Housing Projects, it is required to develop the methodology and criteria for fair cost prediction with influencing power from planning phase to occupancy phase. Many studies still have focused on the prediction of cost by multiple regression. However, there is no logical explanation about the influence of nonmetric variables for the prediction of cost in planning phase. Accordingly, this research pursues a cost prediction model including nonmetric variables for use in planning phase. There are 3 steps of this research : 1) Finding the factors influencing construction cost and assigning variables for a multiple regression. 2) Conducting a dummy regression analysis with nonmetric variables and model validation by comparing actual cost data. 3) Developing the ratio of RC structure cost to wall structure cost by using cost predection model. The results could establish cost prediction process including the influence of nonmetric variables and the ratio of RC structure cost to wall structure cost.

• Korea Real Estate Review
• /
• v.24 no.1
• /
• pp.7-14
• /
• 2014

This study, as the temporal and spatial data for the real price apartment in Seoul from January 2006 to June 2013, empirically compared and analyzed the estimation result of apartment price using OLS by hedonic price model for the problem of space-time correlation, temporal autoregressive model (TAR) considering temporal effect, spatial autoregressive model (SAR) spatial effect and spatiotemporal autoregressive model (STAR) spatiotemporal effect. As a result, the adjusted R-square of STAR model was increased by 10% compared that of OLS model while the root mean squares error (RMSE) was decreased by 18%. Considering temporal and spatial effect, it is observed that the estimation of apartment price is more correct than the existing model. As the result of analyzing STAR model, the apartment price is affected as follows; area for apartment(-), years of apartment(-), dummy of low-rise(-), individual heating (-), city gas(-), dummy of reconstruction(+), stairs(+), size of complex(+). The results of other analysis method were the same. When estimating the price of real estate using STAR model, the government officials can improve policy efficiency and make reasonable investment based on the objective information by grasping trend of real estate market accurately.

• New & Renewable Energy
• /
• v.10 no.3
• /
• pp.6-13
• /
• 2014

This paper presents a computational study of thermal performance and construction cost of horizontal ground heat exchangers (GHEs). GLD (ground loop design) simulations of various type of GHEs were carried out. Construction costs were also calculated based on standard estimating, and compared with vertical type GHE system. Besides that, dummy regression analysis was conducted to study the influence of design parameters on the simulation results in horizontal ground heat exchanger system.

• The Korean Journal of Financial Management
• /
• v.25 no.3
• /
• pp.1-32
• /
• 2008

This study examines the changes and determinants of cash to assets ratios(cash ratios) by analyzing 14,016 Korean manufacturing firms sample for the period of $1999{\sim}2004$. The major findings can be summarized as follows. First, the average cash ratios for Korean manufacturing firms have increased from 4.7 percent of 1999 to 5.2 percent of 2004. In addition, the average cash holdings per firm also have increased from 4.3 billion Won to 8.0 billion Won during the same period. However, the capital expenditures relative to cash ratios or operating cash flow have decreased significantly, confirming the notion that physical investment of Korean manufacturing sector has been shrinking recently. Second, in regression tests with panel data, the coefficients of target adjustment variables show the expected negative signs, but coefficients of the deficit of fund variables show the unexpected positive signs. Thus, the evidence seems to be supportive of static tradeoff model of cash holdings. Third, in regression tests to find the determinants of cash ratios, most of the variables show similar results as the previous studies. However, in terms of adjusted coefficient of determination and F-statistic, the firm-characteristic variables suggested by static trade-off theory have more explanatory power than the variables suggested by pecking order theory.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.13 no.5
• /
• pp.2096-2109
• /
• 2012

This study investigates empirical issues that have received little attention in the previous research in the Korean capital market. It is to find any financial determinants on the capital structure for the firms listed in the KOSDAQ(Korea Securities Dealers Automated Quotation). Another test is performed to find any possible discriminating factors by utilizing a robust methodology, which may distinguish between the firms belonging the 'prime section' and the 'venture section' in terms of their financial aspects. Moreover, the null hypothesis that the changing trend or movement of a firm's capital structure with respect to its industry mean (or median) may be random, is also tested. For the book-value based debt ratios, size(INSIZE), growth(GROWTH), Market to book value of equity(MVBV), volatility(VOLATILITY), market value of equity (MVE) and section dummy (SECTION) showed their statistically significant effects on the book-value based leverage ratios, respectively, while size(INSIZE), growth(GROWTH), market value of equity(MVE), beta(BETA) and section dummy (SECTION) showed their statistically significant effects on the market-value based leverage ratios. This study also found an interesting result that a firm belonging to each corresponding industry has a tendency for reversion toward its mean and median leverage ratios over the five-year tested period.

• The Korean Journal of Financial Studies
• /
• v.11 no.1
• /
• pp.217-242
• /
• 2005

본 연구에서는 부도기업의 부도 후 회생여부와 부도발생시의 주식시장의 반응과의 관계를 조사하였다. 즉 증권시장이 부도기업의 사후적인 회생 또는 회생실패에 대한 통찰력을 부도시에 이미 갖고 있는지를 부도처리시의 주가반응을 분석함으로써 검정하고자 하는 것이다. 이를 위하여 외환위기 후 상장기업의 부도가 빈발하였던 1998년에서 2000년 사이에 부도가 발생한 상장회사 55개 기업을 대상으로 후에 회생한 기업(31개기업)과 그렇지 못한 기업(24개 기업)을 구분하여 후에 회생한 기업의 부도시의 주가반응이 회생하지 못한 기업의 부도시의 주가반응보다 덜 부정적이었는지를 검정하였다. 실증분석 결과 부도기업 중 후에 회생한 기업(31개기업)의 분석기간 ($-10{\sim}+10$)중 평균초과수익률과 누적평균초과수익률이 비회생기업(24개기업)의 그것에 대하여 유의한 (+)의 차이가 나타나지 않았다. 또한 부도기업의 누적초과수익률을 종속변수로 하고 회생여부를 나타내는 더미변수, 전년도감사의견이 적정의견인지의 여부, 부채비율, 총자산(억원) 자연 로그값, 사전적 폭로정보 대용변수로서의 지난 1년간 주가반응을 의미하는 (-230, -11)윈도우 누적초과수익률을 독립변수로 하여 다중회귀분석을 실시하였으나 부도후 회생여부를 나타내는 더미변수의 회귀계수는 유의적이지 않았다. 따라서 초과수익률 차이분석결과 회생기업의 부도시의 주가반응이 비회생기업의 그것에 비하여 유의한 (+)의 차이가 없고, 또한 회귀분석 결과 부도시의 초과수익률과 부도후 회생여부는 유의한 관계가 없으므로 부도처리시의 주가반응에서 후에 회생하는 기업이 그렇지 않은 기업보다 덜 부정적일 것이다라는 연구가설은 기각된다.등에 대한 평가기준의 재정립이 강구되어야 할 것이다.한 변동성에서 큰 위험프리미엄이라는 연결고리를 거쳐 코리아 디스카운트라는 현상으로 귀착되는 현상에 주목하고 있는 본 연구의 결과가 실무에서 유용하게 사용됨은 물론이요 또한 본 연구의 방법론 자체가 매우 정교하고 포괄적이어서 금융시계열을 포함한 다른 여러 분야에 크게 응용될 수 있는 외부효과도 기대된다.R 효과는 전통적 의미의 일반적으로 낮은 PER종목이 초과수익률을 내는 것이 아니라, 기업규모가 크더라도 그 기업의 개별특성을 고려했을 때 이와 비교해 상대적으로 PER가 낮은 종목에 투자하면 초과수익을 낼 수 있음을 의미한다. 발견하였다.적 일정하게 하는 소비행동을 목표로 삼고 소비와 투자에 대한 의사결정을 내리고 있음이 실증분석을 통하여 밝혀졌다. 투자자들은 무위험 자산과 위험성 자산을 동시에 고려하여 포트폴리오를 구성하는 투자활동을 행동에 옮기고 있다.서, Loser포트폴리오를 매수보유하는 반전거래전략이 Winner포트폴리오를 매수보유하는 계속거래전략보다 적합한 전략임을 알 수 있었다. 다섯째, Loser포트폴리오와 Winner포트폴리오를 각각 투자대상종목으로써 매수보유한 반전거래전략과 계속거래 전략에 대한 유용성을 비교검증한 Loser포트폴리오와 Winner포트폴리오 각각의 1개월 평균초과수익률에 의하면, 반전거래전략의 Loser포트폴리오가 계속거래전략의 Winner포트폴리오보다 약 5배정도의 높은 1개월 평균초과수익률을 실현하였고, 반전거래전략의 유용성을 충분히 발휘하기 위하여 장단기의 투자기간을 설정할 경우에 6개월에서 36개월로 이동함에 따라 6개월부터 24개월까지는 초과수익률이 상승하지만, 이후로는 감소하므로, 반전거래전략을

• Management & Information Systems Review
• /
• v.37 no.3
• /
• pp.27-47
• /
• 2018

In this study, we examine how land use zoning affects the land price controlling other variables such as road-facing condition of the land, land form, land age after its development and land size. We employ geographically weighted regression analysis which reflects spatial dependency as methodology with a data sample of land transaction price data of Jangyu, a new town, in Korea. The results of our empirical analysis show that the respective coefficients of traditional regression and geographically weighted regression are not significantly different. However, after calculating Moran's Index with residuals of both OLS and GWR models, we find that Moran's Index of GWR decreases around 26% compared to that of OLS model, thus improving the problem of spatial autoregression of residuals considerably. Unlike our expectation, though, in both traditional regression and geographically weighted regression where residential exclusive area is used as a reference variable, the dummy variable of the residential land for both housing and shops shows a negative sign. This may be because the residential land for both housing and shops is usually located in the level area while the residential exclusive area is located at the foot of a mountain or on a gentle hill where the residents can have good quality air and scenery. Although the utility of the residential land for both housing and shops is higher than its counterpart's since it has higher floor area ratio, amenity which can be explained as high quality of air and scenery in this study seems to have higher impact in purchase of land for housing. On the other hand, land for neighbourhood living facility seems to be valued higher than any other land zonings used in this research since it has much higher floor area ratio than the two land zonings above and can have a building with up to 5 stories constructed on it. With regard to road-facing condition, land buyers seem to prefer land which faces a medium-width road as expected. Land facing a wide-width road may have some disadvantage in that it can be exposed to noise and exhaust gas from cars and that entrance may not be easy due to the high speed traffic of the road. In contrast, land facing a narrow road can be free of noise or fume from cars and have privacy protected while it has some inconvenience in that entrance may be blocked by cars parked in both sides of the narrow road. Finally, land age variable shows a negative sign, which means that the price of land declines over time. This may be because decline of the land price of Jangyu was bigger than that of other regions in Gimhae where Jangyu, a new town, also belong, during the global financial crisis of 2008.

• The Journal of The Korea Institute of Intelligent Transport Systems
• /
• v.19 no.6
• /
• pp.1-13
• /
• 2020

In the event of fire, it is necessary to put out the fire within a golden time to minimize personal and property damages. To this end, it is necessary for fire engines to arrive at the site quickly. This study established a fire engine travel time estimation model to secure the golden time by identifying road and environmental factors that influence fire engine travel time in the case of fire by examining data on fire occurrence with GIS DB. The study model for the estimation of fire engine travel time (model 1) covers variables by applying correlation analysis and regression analysis with dummy variables and predicts travel time for different types of places where fire may occur (models 2, 3, 4). Analysis results showed that 17 siginificant independent variables are derived in model 1 and the fire engine travel time differs depending on the types of places where fire occurs. Key variables(travel distance, number of lane, type of road) that are included commonly in the 4 models were identified. Variables identified in this study can be utilized as indicators for research related to travel time of emergency vehicles and contribute to securing the golden time for emergency vehicles.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.16 no.6
• /
• pp.157-175
• /
• 2021

This study categorized 3,214 companies out of the tech firms supported by the Korea Technology Finance Corporation's "technology guarantee scheme" through technology assessment from 2017 to 2019 into Fourth Industrial Revolution-related companies and general SMEs. The impact of the management characteristics of these 1,752 tech firms on the determination of high-growth firms was then empirically analyzed. This study used the OECD(2007) definition to define a "high-growth firm" as "an enterprise with average revenue growth greater than 20% per annum, over a two-year period." As the two sample groups showed non-normal distribution, this study conducted the Mann-Whitney U test, a nonparametric test, to analyze the mean differences and bivariate logistic regression in which the normality assumption is less stringent. The independent variables include fundamental characteristics; a regional dummy; a technological level dummy; and the capabilities of company representatives, human capital, and technological innovation. The corresponding sub-variables are representatives' level of education and experience in the same industry, full-time workers, research personnel, the extent of intellectual property rights, investment in research and development, firm age, total assets, region_metropolitan area, region_central region, technological level_high technology, and technological level_medium technology. As a result, the research hypothesis about representatives' level of experience in the same industry, full-time workers, total assets, and technological level_high technology was supported for the Fourth Industrial Revolution-related companies. For the general SMEs, the research hypothesis about representatives' level of experience in the same industry, research personnel, total assets, and region_metropolitan area was supported.

• Journal of Advanced Technology Convergence
• /
• v.3 no.1
• /
• pp.1-11
• /
• 2024

This study was a descriptive research study conducted to determine how nursing students' good death awareness and nursing attitudes toward dying patients affect their empathy. The subjects of the study were 155 nursing students, and data were collected using an online survey method. Data analysis was performed using descriptive statistics, independent t-test, one-way ANOVA, and multiple regression using the IBM SPSS Statistics 26. Higher attitude toward care of dying (B=.312) had a statistically significant positive effect on empathy capacity (p<.010). The variables that affected nursing students' empathy capacity were end-of-life experiences of relatives (𝛽=.226) and attitude toward care of dying (𝛽=.220). The regression model was statistically significant (F=6.968, p<.001), explained 10.4% of empathy. This study is expected to be used as basic data for the development of programs to strengthen the empathy capacity of nursing students in the future.