• Journal of the Korean Society for Railway
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• v.14 no.3
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• pp.285-294
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• 2011

An analysis of railroad industry has been insufficient whereas there are lots of analysis of accumulation of technology, economic performances and ripple effects for macroscopic view and other industry of R&D investments. This study decided intellectual rights, patent, and paper as common indicators of scientific and technological performances for setting up performance targets through surveying and analysis of preceding study and verified a appropriateness of scientific and technological performances for railroad R&D 11 projects which were successfully finished. Preceding study has been set up performance targets by research investments as input, but this study made a performance target by model through a cross-sectional and residual analysis of performances of railroad R&D 11 Projects in applying research investments, capital investments and inner labor cost per man and research time as inputs, and verified a validity and a empirical analysis through analysis of other project.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.4
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• pp.232-241
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• 2019

This study examines one of the conventional and controversial issues in modern finance. Specifically, this study identifies financial determinants of corporate R&D intensity for firms belonging to Korean Chaebols. Empirical estimation procedures are applied to derive more robust results of each hypothesis test. Static panel data, Tobit regression and stepwise regression models are employed to obtain significant financial factors of R&D expenditures, while logit, probit and complementary log-log regression models are used to detect financial differences between Chaebol firms and their counterparts not classified as Chaebols. Study results found the level of R&D intensity in the prior fiscal year, market-value based leverage ratio and firm size empirically showed their significance to account for corporate R&D intensity in the first hypothesis test, whereas the majority of explanatory variables had important power on a relative basis. Assuming that the current circumstances in the domestic capital market may necessitate gradual changes of Korean Chaebols in terms of their socio-economic function, the results of this study are expected to contribute to identifying financial antecedents that can be beneficial to attain optimal level of corporate R&D expenditures for Chaebol firms on a virtuous cycle.

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

• Korean Security Journal
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• no.9
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• pp.133-153
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• 2005

The suggestions that follow are about the effectual operating device for private security service. First, in legal and institutional policy, new establishment by law for private security and more support from government is asked. Moreover, the restructuring or M&A between petty companies and the pricing for security service should be performed. Second, in the structural aspect of private security industry, the professional education center for private security guards should be established and the terms of payment and welfare should be improved to the level above standard. In addition, it should be achieved to change the public to have a new and correct understanding of private security and develop the specialized parts suited to the characteristic and ability of each companies. Third, the construction of operating system for private security service should be achieved; recruit system for competent security guards, marketing strategy and enforcement system, widely known confidence to client, normal training system for security guards and post management system for client. This is also to be suited to the characteristic of each companies.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.2D
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• pp.303-314
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• 2011

This paper proposes a differential pricing model for industrial land based on locational characteristics, using Support Vector Regression (SVR) as a land pricing methodology. The initial selling price of industrial land is set based on the total cost of site development that comprises the land acquisition cost and tax, land development expense, infrastructure installation cost, labor cost, migration expense, selling and administrative expense, capital cost, and so on. However, the current industrial land pricing method unreasonably applies the same price per square meter to all parcels within an industrial complex without considering differences in price depending on the location of each parcel. Therefore, this paper proposes an empirical land pricing model to solve this irrationality and verifies its validity and applicability.

• International Area Studies Review
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• v.13 no.1
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• pp.81-102
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• 2009

The discussion of the relationship between macro-economic variables is very important research topic. the most economic variables discussed in connection with the liberalization of capital is the exchange rate and stock prices and these two variables have a relationship of mutual influence are identified. However, the results on the time frequency and the time span of a variable appear differently. Therefore, the purpose of this research describes a cause that the result of prior research varied and presents more reliable research methodology. In this research, when the time frequency and span varied, the VAR analysis of the exchange rate and stock prices appeared differently. So, we use the Monte Carlo simulation method in order to performing our purpose. Our research supports the existing research said the ratio that each coefficient VAR model contained 95% confidence interval of estimated coefficient in Monte Carlo simulation is higher when it is applied more the long term and frequent observation.

• The Journal of the Korea Contents Association
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• v.12 no.10
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• pp.169-177
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• 2012

Due to the influences of global financial crisis, countries are putting their efforts on the enhancement of appropriateness and transparency of director compensation. In several countries including Germany, the United States, the United Kingdom, France, and Italy, listed companies and financial institutions in certain levels make public announcement for compensations of individual directors, not the averages. Recently, even Asian countries including China, Hong Kong, and Singapore are introducing individual director compensation public announcement policies. On the other hand, in cases of companies, which must submit annual reports, under current Korean capital market laws and enforcement ordinances, they are obligated to mention 'total wage paid to all executives in that business year' on the annual report, but does not have to mention individual wages of each executive. About this, at the 17th national assembly, revised bill for the Securities and Exchange Act for companies to mention wages of each executive. The financial world is opposing to open individual director compensation to the public as they concern about the shrinking of outstanding human resources recruitment, breach of corporate confidence, privacy invasion, deterioration of labor-management relations, and downfall of the executive's management will as director compensation will be standardized downward; however, if public opening of individual director compensation is forced, domestic companies will prepare more objective and rational standards when they calculate director compensations, and moreover, it will prevent arbitrary intervention of dominant shareholders. Therefore, to clearly and efficiently control director compensation, we need regulations for obligating public opening of individual director compensation.

• Proceedings of the Korea Water Resources Association Conference
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• 2017.05a
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• pp.257-257
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• 2017

본 연구는 기상이변의 영향으로 지속적으로 발생되고 있는 댐 저수지 붕괴에 대한 원인 분석과 기존의 관련 연구 및 지침 등을 비교 분석하여 현재 실무에서 적용되고 있는 댐 저수지 비상대처계획(EAP) 수립 대상 기준에서 제외되는 시설물의 붕괴 가능성 평가를 통해 EAP 수립 대상의 적정 범위를 제시하고자 하였다. 이를 위해 본 연구에서는 시설물의 붕괴 가능성에 대한 정량적 판단 기준을 각 요인별로 제시하고, EAP 수립 대상에서 제외되는 댐 저수지를 대상으로 붕괴 가능요인을 적용하여 3개 이하의 붕괴요인에 해당될 경우 저위험군, 4개 및 5개의 붕괴요인에 해당될 경우 중위험군과 고위험군으로 각각 분류하여 시설물 붕괴 위험성 정도에 따른 적절한 대응이 이루어질 수 있도록 제안하였다. 댐 저수지 붕괴 사례 분석을 통해 도출된 붕괴 가능성의 주요 요인으로는 저수용량, 제체 높이, 준공 경과연수, 우심피해 및 지진피해 잠재지역이 포함되며, 각 요인별 객관적인 판단기준은 댐 저수용량의 경우 EAP 법적 수립기준 및 과거 붕괴사례 등의 분석을 토대로 붕괴사례 61개소 중에서 약 88%를 차지하는 저수용량 10만톤을 선정하였으며, 댐 높이의 경우 댐의 파괴양상(이종태, 1987)에서 제시한 댐 붕괴부 특성과 미국주댐안전협회(ASDSO: American Society of Dam Safety Official) 학술지인 Dam Safety(2006) 등에서 제안한 기준을 기존의 댐?저수지 붕괴사례에 적용하여 댐 붕괴폭과 댐 높이의 상관관계 분석 결과를 바탕으로 댐 높이 8m 이상을 적정 범위로 고려하였다. 준공 경과연수의 경우에는 국민안전처 "재해위험저수지 댐 관리 지침" 타당성 평가기준인 '시설노후도' 기준과 한국시설안전공단 사회간접자본 노후화 기준에 해당하는 경과연수 기준을 토대로 30년 이상을 기준으로 선정하였으며, 우심피해 및 지진피해 잠재지역은 국민안전처 재해연보(2014)를 기준으로 과거 10년 동안의 우심피해 발생 지역과 기상청 국내 지진 규모 10위권 내에 포함되는 지역을 고려 대상으로 하였다. 본 연구에서 도출한 시설물 붕괴 가능성에 대한 판단기준을 국민안전처에서 고시한 EAP 수립 대상에서 제외되는 지자체 재해위험저수지 354개소에 적용해 본 결과, 저위험군 16개소, 중위험군 5개소, 고위험군 2개소로 각각 조사되었다. 저위험군은 전문 시설물 관리자에 의한 주기적인 시설물 점검 및 관찰이 필요할 것으로 사료되며, 중 고위험군에 속하는 시설물의 경우 본 연구의 결과를 바탕으로 시설물 하류지역의 실질적인 인명 및 경제적 피해 가능성에 대한 보다 면밀한 조사를 통해 EAP 수립 대상 포함여부를 결정하여야 할 것으로 판단된다.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.5
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• pp.179-190
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• 2020

This research analyses the financial characteristics of corporate R&D intensity in the Korean capital market. It is important to pay greater attention to this subject, given the current situation of the shortage of core components domestically in Korea. Three hypotheses are postulated to investigate the financial factors of R&D investments for KOSDAQ-listed firms during the post-era of the global financial turmoil. By applying a conditional quantile regression (CQR) model, three variables included R&D intensity in the previous year (Lag_RD), the squared term of Lag_RD, and interaction between the high-tech sector and Lag_Rd, reveal significant effects on the current R&D ratio. Whereas more than half of the total variables show variable impacts between firms with higher and lower R&D intensity, only Lag_RD and squared term of Lag_RD were found to be significant. It is expected that these results may contribute to being financial catalysts for an optimal level of R&D expenditures, thereby maximizing firm value for shareholders in KOSDAQ-listed firms.

• Korean Journal of Construction Engineering and Management
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• v.7 no.5
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• pp.53-63
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• 2006

Since 2005, the government began to introduce and promote a new project delivery system, BTL(Build, Transfer, and Lease), in order to provide high level of public services for the upgraded quality of life and to boost the domestic and local construction economy. However, the lack of experiences in the new system by the constituents from diverse economic sectors brought a number of drawbacks from each constituent's perspective such as improperly low earning rate, excessive expenses for preparation of the project proposal, imbalanced regulations, heavy cost and procedures to establish SPC, the ineffective structure of the consortium, the short-term oriented evaluation criteria for the selection and so forth. These drawbacks turned out to be obstacles for the successful BTL projects. Hence, this paper analyzes the above issues and conducts the interviews with the professionals from the diverse sectors in order to propose the changes to resolve those for the improvement and finally to deliver the successful BTL projects for the diverse public owners.