• Title/Summary/Keyword: 자본비용

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A Study on the Analysis of Management Characteristics of Coastal Port Freight Transportation Business Using Panel Regression Analysis (패널회귀분석을 이용한 내항 화물운송사업체의 경영특성 분석에 관한 연구)

  • Kim, Suk;Park, Sung-Hoon;Yang, Tae-Hyeon;Yeo, Gi-Tae
    • Journal of Digital Convergence
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    • v.17 no.3
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    • pp.79-92
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    • 2019
  • This study analyzes the effects of freight transportation income, capital, asset, non-operating expenses, and debt ratio on the debts of inner port freight transportation businesses through the GLS of panel regression analysis and the estimation of fixed effects model. The factors and hypotheses were established through a theoretical background review, and the financial statement and profit and loss data of inner port freight transportation businesses for 10 years from 2006 to 2015 were analyzed. The results showed that assets had positive effects on debts, and negative effects on capital, non-operating expenses, and debt ratio, but no effect on freight transportation income. This result empirically demonstrates the tendency of inner port freight transportation businesses to secure assets by increasing debts, creation of debt reduction leverage effect using non-operating expenses such as interest expenses through bank borrowing, and the adoption of management characteristics and financial operation method to lower the debt ratio by reducing capital more than debts. In future studies, it is necessary to analyze coastal port freight transportation business by industry (oil tankers, cargo ships, and barge ships), and regions such as East, West and South sea.

A Study on Modeling of Life Cycle Cost for Magnetic Levitation Train (자기부상열차 시스템의 수명주기비용 모델링에 관한 연구)

  • Lee, Yun-Seong;Kim, Jin-O;Kim, Hyung-Chul;Jang, Dong-Uk
    • Journal of the Korean Society for Railway
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    • v.12 no.6
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    • pp.1076-1080
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    • 2009
  • An analysis of Life Cycle Cost (LCC) is to evaluate the system through the total cost accounting during the total life cycle. Railway system has problem that abundant capital has to be utilized efficiently because railway system is a combined system such as power supply, machines, electric signals. Especially, Magnetic Levitation Train needs high technique and more study about the Life Cycle cost by using the system being developed currently in Korea. Therefore, the Modeling of Life Cycle Cost for Magnetic Levitation Train is proposed considering the tendency of the studies in other countries.

Pecking Order Theory and Korean Family Firms: Effect of Ownership and Governance Characteristics (한국기업의 가족경영과 자본조달우선순위: 소유·지배구조 특성의 영향분석)

  • Jung, Mingue;Kim, Dongwook;Kim, Byounggon
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.3
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    • pp.518-526
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    • 2017
  • This study analyzed the impact of family firms and their characteristics on how they use debts to analyze the decision-making process of Korean family firms. For analysis, we classified the characteristics of family firms into three categories, through the influence of the relationship between the lack of funds and net debt issuance, which was confirmed as the 'packing order theory' of family firms. There was a total of 4,503 enterprises in the Korean Exchange (KRX). The period of analysis was 10 years, between 2004 and 2014. To summarize, Shyam-Sunder and Myers (1999) validated the packing order theory by presenting a model of family businesses that showed greater applicable to higher packing order theory than a model of non-family businesses. Moreover, the results also confirmed the application of the packing order theory by the family stronger corporate governance and ownership structure. The ownership and governance characteristics of the ruling family has also shown the applicability of higher packing order theory.

The Effects of Technological Progress on Growth, Employment and Distribution (성장 ${\cdot}$ 고용 ${\cdot}$ 분배에 대한 기술진보의 파급효과)

  • Im, Yang-Taek
    • Proceedings of the Technology Innovation Conference
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    • 2005.02a
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    • pp.220-267
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    • 2005
  • 본 연구의 분석목표는 순요소증가형 CES 생산함수를 실증적으로 추정함으로써 한국 제조업부문의 기술변화의 유형을 규명하고 성장 ${\cdot}$ 고용 ${\cdot}$ 분배에 대한 기술진보의 파급효과를 분석하는 것이다. 이 분석결과를 토대로 하여, 본 연구는 성장 ${\cdot}$ 고용 ${\cdot}$ 분배를 동시적으로 추구할 수 있는 정책방향을 기술경제 패러다임의 시각에서 제시하였다. 본 연구의 실증적 분석결과는 다음과 같이 요약할 수 있다 : 한국 제조업부문의 기술변화의 유형은 Hicks형 비(非)중립적인 자본사용적(B(t)>0) 즉 노동절약적 기술진보인 것으로 추정되었다. 이 결과, 잠재적 고용수준은 감소될 수밖에 없었다. 또한, Hicks형 중립적 기술진보를 나타내는 총요소생산성 증가율(${\gamma}$)은 감소하였던 반면에, 비(非)중립적 기술진보를 나타내는 요소간 대체탄력도(${\sigma}$)와 자본집약도(${\delta}$)는 증가하였다. 이에 따라 노동(L)이 자본(K)으로 광범위하게 대체되었을 뿐만 아니라, 자본투입(K)이 노동투입(L)보다 상대적으로 더 빠르게 증가 (K/K > L/L 즉 k/k > 0)되었다. 이 결과, 소득분배구조가 악화 (S/S< 0)된 것으로 추정되었다. 그러므로, 오늘날 경제성장의 한계 봉착, 대량실업의 폭발, 계층간 갈등의 심화를 초래한 요인은, 성장 ${\cdot}$ 고용 ${\cdot}$ 분배를 동시적으로 추구하는 산업 ${\cdot}$ 기술경제정책을 일관성있게, 또한 과감히 추진하지 않았던 결과, 노동사용적 중소기업의 몰락, 노동의 생산효율성 증진을 위한 인적자본 투자의 미흡, 자본의 생산효율성 증진을 위한 자본절약적 기술진보의 저조, 총요소 생산성 증가의 부진, 만성적인 인플레이션에 의한 실질 임금수준의 하락 및 실물 자산가치의 상승 등이라고 말할 수 있다. 따라서 성장 ${\cdot}$ 고용 ${\cdot}$ 분배의 조화는 바로 노동효율 증가형 기순혁신이며, 이를 위한 인적자본에의 투자라고 말할 수 있다. 본 연구가 기술경제 패러다임(techno-economic paradigm)의 시각에서 제시하는 한국경제의 성장 ${\cdot}$ 고용 ${\cdot}$ 분배를 위한 정책방향은 다음과 같은 동태적발전과정으로 요약할 수 있다 : 기초과학연구능력 확충 ${\rightarrow}$ 소화 ${\cdot}$ 흡수 ${\cdot}$ 개량 ${\rightarrow}$ 토착화 능력의 배양 ${\rightarrow}$ 자체기술개발, 선진기술 도입, 산업간 및 산업내 기술확산, 국제기술협력 ${\rightarrow}$ 기술혁신의 촉진 ${\rightarrow}$ 총요소생산성과 기업경쟁력(자원 및 역량, 프로세스 경쟁력, 품질경쟁력, 시장경쟁력, 고객성과, 시장성과, 재무성과)의 제고 ${\rightarrow}$ 가격경쟁력(임금, 금리, 물류비용, 환율 등)과 비(非)가격경쟁력(디자인, 에프터서비스, 품질, 운송 등)의 제고 ${\rightarrow}$ 국가경쟁력의 제고 ${\rightarrow}$ 국제수지 흑자 ${\rightarrow}$ 성장 ${\rightarrow}$ 물가 및 고용 안정 ${\rightarrow}$ 분배 ${\rightarrow}$ 최대다수의 최대행복이다.

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A Study on the Recognition and disclosure of Environmental Costs (환경비용의 인식과 공시에 관한 연구)

  • Cheon, Young-Seung
    • Korean Business Review
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    • v.11
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    • pp.295-317
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    • 1998
  • Environmental accounting identifies and measures environmental costs and provides them to interested parties of corporation. The purposes of this study are as follows: First, it investigates the method of measurement and the timing of recognition of environmental costs. Second, it suggests the method of disclosure of environmental costs. In order to accomplish these objectives, this study reviewed relevant literature and studies in advanced countries and Korea. The main results of this study can be summarized into four points: (1) environmental costs are classified into environmental pollution cost and environmental pollution prevention cost, by considering the sources of occurrence of, the functions of and the types of environmental costs. (2) the methods of measurement of environmental costs are various but they almost all subjective and arbitrary. So an accurate measurement of environmental cost is actually difficult. (3) According to the accrual basis, environmental costs are recognized respective to prior period adjustments, expenses or losses of the current period and the assets of the next period. (4) There are 3 methods of disclosure of environmental costs: an extension model of financial statements, a compromise model, and an original model. An extension model financial statements is easy to apply in business practice because it discloses environmental costs by adding accounts into the framework of a traditional accounting system or supplementary reports. This research can contribute to the establishment of accounting standards for environmental costs in Korea.

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Comparison of Sampling and Estimation Methods for Economic Optimization of Cumene Production Process (쿠멘 생산 공정의 경제성 최적화를 위한 샘플링 및 추정법의 비교)

  • Baek, Jong-Bae;Lee, Gibaek
    • Korean Chemical Engineering Research
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    • v.52 no.5
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    • pp.564-573
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    • 2014
  • Economic optimization of cumene manufacturing process to produce cumene from benzene and propylene was studied. The chosen objective function was the operational profit per year that subtracted capital cost, utility cost, and reactants cost from product revenue and other benefit. The number of design variables of the optimization are 6. Matlab connected to and controlled Unisim Design to calculate operational profit with the given design variables. As the first step of the optimization, design variable points was sampled and operational profit was calculated by using Unisim Design. By using the sampled data, the estimation model to calculate the operational profit was constructed, and the optimization was performed on the estimation model. This study compared second order polynomial and support vector regression as the estimation method. As the sampling method, central composite design was compared with Hammersley sequence sampling. The optimization results showed that support vector regression and Hammersley sequence sampling were superior than second order polynomial and central composite design, respectively. The optimized operational profit was 17.96 MM$ per year, which was 12% higher than 16.04 MM$ of base case.

A Study on the Influence of Securities on Corporate Financing Behavior in Financial Markets (금융시장에서 담보가 기업의 자금조달선택에 미치는 영향에 관한 연구)

  • Park, seok gang
    • International Area Studies Review
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    • v.22 no.3
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    • pp.201-219
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    • 2018
  • This paper suggested a theoretical model, in which a security-based(secured loan, non-secured loan) credit agreement determines the form of corporate cost function through a loaning company's cost minimization in the light of a company which behaves monopolistically in product markets. Also, this paper analyzed the influence of a corporate credit agreement on market equilibrium, and economic welfare in product markets. As a result, it was found that in case a company, whose equity capital is small, implements borrowing based on a secured loan from a financial institution, the company comes to face borrowing restraints, in which the company has no choice but to get a loan within the scope of securities. When a company offers its capital goods, i.e. a production factor, as a security, there occurs a distortion to the production factor input ratio. Meanwhile, when a company comes to get a loan based on an unsecured loan, for which the interest rate is high, marginal cost rises; accordingly, the company comes to choose a credit agreement aiming at maximizing its profits. However, a company's choice of a credit agreement is not quite desirable from a consumer's viewpoint, and from the whole economic point of view; overall, such a choice is likely to aggravate economic welfare.

건설산업의 중요성과 건설기술 정책의 위상

  • 박병무
    • 월간 기계설비
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    • s.45
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    • pp.45-54
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    • 1994
  • 건설산업은 국민경제에서 차지하는 비중이 높으며, 향후 지속적으로 대상영역이 확대되고 기능 및 규모가 커질 전망이다. 우리나라 건설기술의 현위치는 선진국 수준을 100을 할때 70정도에 불과하며, 발전속도의 관점에서 국내 제조업에 비해서도 저조한 실정이다. 이는 정부의 기술개발사업에서 건설기술 개발 필요성에 대한 인식의 부족으로 과학 및 산업기술의 개발 필요성에 대한 인식의 부족으로 과학 및 산업기술의 분류에서 독자적인 항목으로 설정되지 않고 있으며, 적절한 예산지원이 이루어지지 않고 있다는 데 문제의 원인이 있다. 민간부분의 경우는 매출액 대비 기술개발비용이 일본과 비슷한 비율이지만, 매출액 규모를 고려해 볼 때, 부가가치 창출 효과를 논하기는 이른 실정이다. 한편, 건설산업의 성격 역시 자본절약형으로 선진국에 비해 장비수준 및 자본생산성이 떨어지고 있어, 기술수준의 낙후를 시사하고 있다. 앞으로 국제화, 개방화, 지방화의 시대가 도래할 것이고, 자유경쟁원리에 토대를 둔 경영효율, 기술혁신, 품질 등에 의해 경쟁력의 우위가 결정될 것이다. 향후, 건설기술정책은 건설기술개발의 체계화, 신기술 활용의 극대화, 건설산업의 종합화 및 전문화, 생산체계의 효율화 등을 지향해야 한다.

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Preliminary study on the Review Project Viability to Rahmen Structure (라멘조 공법의 사업성 검토에 관한 기초연구)

  • Lee, Sung-Ho;Joo, Jin-Kyu;Lee, Goon-Jae;Kim, Sun-Kuk
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2011.11a
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    • pp.139-140
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    • 2011
  • The government encourages adoption of Rahmen structure design to ensure efficient management of national resources. However, in comparison with bearing-wall structure, Rahmen structure requires higher unit construction cost and present challenges in terms of securing adequate floor area ratio and floor height. That is why project clients have been disinterested in adoption of Rahmen structure design. Therefore, we have attempted to find factors having influence on decline of project viability for Rahmen structure. This study will be utilized as a basic reference study for promotion of Green Frame design which is a composite PC structure already developed.

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Review of Gentrification Model for Regional Regeneration -A Study on the Possibility of the ganghwa Area Based on the Gangneung Café Street- (지역재생을 위한 젠트리피케이션 모델 검토 -강릉 카페거리를 바탕으로 한 강화도 지역의 가능성 검토-)

  • Kim, HeeJae;Choi, HeeSoo
    • Proceedings of the Korea Contents Association Conference
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    • 2017.05a
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    • pp.213-214
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    • 2017
  • 최근 일부 도심 지역에서 중산층이 특정지역으로 몰리며 원래의 거주자를 밀어내는 젠트리피케이션 현상과 주거비용 상승으로 인하여 도심에서 농촌으로 이동하는 유턴현상이 일어나고 있다. 이러한 이유로, 서울의 인구는 2016년 기준 28년 만에 천만 명이 붕괴되었다. 서울의 감소된 인구는 자연스럽게 수도권 외곽이나, 지방으로 분산되었고, 지자체의 인구가 초고령화로 나아가는 현재의 상황에서 지역사회에 도시민과 자본의 유입은 균형 있는 지방자치에 한 걸음 다가갈 수 있는 방법으로 활용 가능하다. 이와 같은 배경으로 풍부한 관광 자원과 지리적 이점 등을 이용하여 자본의 유입이 많을 것으로 예상되는 강화도 지역에 대해 강릉 카페거리 사례를 바탕으로 젠트리피케이션 모델을 검토 하고자 한다.

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