• Journal of Technology Innovation
• /
• v.24 no.3
• /
• pp.81-105
• /
• 2016

The purpose of this study is to estimate the cost-saving effect of R&D investment in the ICT industry. As is well known, the R&D investment induces both the product innovation and the process innovation, in turn leads the effect of creating profit and cutting cost. However, it appears that studies concerned with the cost-saving effect of R&D investment have been unproductive, while most existing studies concentrate on the topic involved with the creating profit of R&D investment. Therefore, we extend the effect of R&D investment to a framework of the cost-saving focusing on the ICT industry. To empirically analyze the effect, we built a simultaneous three-equation model comprising a translog cost function and two cost share equations, and employed the SUR analysis. As a result, we found out that the cost-saving effect on the total cost is statistically significant. In addition, we examined relationships between the R&D investment and each cost of production elements. The results show that on the one hand, the R&D investment and the intermediate good cost have the substitution relationship. On the other hand, the complementary relationship is observed between the R&D investment and each labor or capital cost.

• The KIPS Transactions:PartD
• /
• v.14D no.1 s.111
• /
• pp.107-120
• /
• 2007

When it tomes to IT investment, it's a challenge for the management to make the right decision. Unlike investment in other business area, it's hard to measure direct cost vs. effect in IT business. To validate the investment in IT, it is required to establish objective assessment system that both provider and beneficiary of information can accept, and it is also required to suggest an assessment tool of fixed quantity that includes measuring standards and method for the economic effect of new investment. This study, therefore, has developed IT ROI Methodology that can prove investment validity by accepting the strong points of the existing models while complementing their weak points and by analyzing IT Investment and IT Efforts. It also has built an IT ROI System that reflects the methodology which is applied to 21 companies of 5 business categories. This system is designed to provide effective and objective decision-making tool for IT investment by proving what positive impacts IT could have on business activities.

• Journal of the Korea Society of Computer and Information
• /
• v.6 no.3
• /
• pp.122-130
• /
• 2001

The purpose of this study is to find the economic effect of educational investment. In order to finding this. I have investigated to historical background of educational investment and as the method of analysis I examined the rate of return approach such as the residual approach. and the simple correlations approach. Historically, economics of education has concentrated on surrounding the relationship between education and economy, which the implicit assumption that investment in education contributed to increase the quality and productivity of the labor force and thus raise future individual and national income levels. First of all, at this paper I found to need boldness to increasing the amount of education budget annually and also positively studying about economics of education in Korea for high and good quality analysis of expansion economy and education.

• Journal of the Korean Society for Precision Engineering
• /
• v.6 no.3
• /
• pp.15-23
• /
• 1989

제품제조에 있어 측정의 중요성과 그 경제적 특성에 비추어 주요 산업의 측정관련 투자실태를 파악하고 투자에 따른 그 기여도를 면밀히 분석 한다는 것은 매우 큰 의미를 갖는다. 그 의미의 하나는 측정표준을 공급하고 있는 국가표준기관의 업무수행에 따른 파급효과를 측정하여 향후 국가표준체계의 확립에 필요한 공급기능의 수급자원의 결정에 주요 자료로 기대되고 있다. 그리고 제품의 품질향상을 위한 측정관리의 효율화운동이 점차 확산됨으로써 개별 기업의 생산성 증대와 불량률 감소로 인한 원가절감으로 국산제품의 가격경쟁력의 우위를 기대할 수 있다. 이러한 중요성에 부응하기 위해서는 국가표준의 준용에 따른 측정표준과 관련된 측정투자의 비용과 그 수익성에 관하여 정확한 경제성의 연구 분석이 필요하다. 국가표준의 확립이라는 국가적 과제를 성공적으로 수행하기 위해서는 국가표준의 확립 에 따른 경제성을 분석하여야 한다. 측정투자에 대한 효과분석을 통하여 측정표준에 관한 중요성을 알게 될 것이다. 이러한 의미에서 본 연구는 측정표준을 공급받고 있는 산업체를 대상으로 그 효과를 분석하고 측정의 중요성을 파악하여 일반 산업체에 주지하며 개별 업체의 이익과 국가경제의 부를 창출함으로써 국가표준의 확립효과를 크게 기대하게 될 것이다.

• Journal of Technology Innovation
• /
• v.21 no.1
• /
• pp.1-26
• /
• 2013

The objectives of this paper are to analyze the effect of government R&D expenditure on employment in the Korean manufacturing sector in which employment is rapidly declining. According to the results of our empirical analysis, government R&D expenditure decreases the level of employment in Korean manufacturing sector in short term period, but it has positive effect on employment by compensation effect in the middle and long term period. Second, the effect of private R&D expenditure on job creation is three times larger than that of government R&D expenditure. Third, costs of labor and capital has negative effect on employment. This study is believed to help understanding the relation between R&D expenditure and employment, and providing policy implications of how to plan and manage government R&D expenditure as a tool of job creation.

• 한국IT서비스학회:학술대회논문집
• /
• 2003.05a
• /
• pp.1-9
• /
• 2003

지난 수년간, IT 비용의 지속적인 증가에 따른 IT 투자 의사결정 및 평가를 위한 성과 분석은 최근 가장 주요한 이슈가 되고 있다. IT 투자와 성과간의 상관 관계를 규명하기 위한 수많은 노력에도 불구하고 IT 투자 성과 측정의 어려움과 이에 영향을 미치는 요소들의 복합성으로 인하여 낮은 IT 투자 성과의 원인을 제시하는 것은 여전히 쉽지 않은 문제이다. 본 연구는 실제 IT 투자 규모와 IT 투자 성과간의 상관관계를 분석하고, 이에 조직, IS프로젝트, 사용자 요인들이 어떻게 영향을 미치는지 나타내고자 하였다. 2개 제조업체의 총 44개의 단위시스템들에 대하여, IT 투자 비용은 형태별로, IT 투자 성과는 정성적, 정량적인 효과를 정보, 시스템, 사용자, 조직효과 관점에서 측정하고 있다. 또한, 각 시스템을 구축하였던 업무 담당자들, 사용자들에 대한 인터뷰 및 설문을 통하여 조직, IS프로젝트, 사용자 요인을 측정하고 있다. 본 연구는 효과적인 IT 투자 성과를 얻기 위해서는, 절대적인 IT 투자 규모도 중요하지만 구체적인 정보전략계획의 수립, 경영진의 지원, 사용자의 적극적 참여와 같은 IT 투자 실행의 중요성을 제시하고 있다. 이들 결과를 바탕으로 IT 투자를 고려하고 있는 기업들에게 효과적인 투자 방안을 제시할 수 있을 것이다.

• Proceedings of the KAIS Fall Conference
• /
• 2010.11b
• /
• pp.568-571
• /
• 2010

본 연구의 목적은 감귤 기능성물질의 산업화 타당성 분석을 하는 것이다. 구체적인 경제성 분석방법은 순현가와 투자수익률(내부수익률)을 이용한 기본적인 경제성분석과 손익분기점분석, 그리고 주요변수들의 변화에 따른 순현가의 변화를 파악하기위한 민감도분석이고, 정책적 분석은 감귤기능성 물질산업화가 감귤산업 전체에 미치는 파급효과를 계량적, 정성적으로 분석하였다. 감귤 기능성물질의 산업화 타당성 분석결과에 따르면, 미숙과 감귤 2만톤과, 감귤박 2만톤을 처리한다고 가정했을 경우 감귤산업에 미치는 경제적 효과는 연간 5백억원으로 나타났다. 이러한 막대한 경제적 효과는 본 사업에 투자되는 전체비용 약 1백억원, 10년 사업기간을 가정하면 연간 10억원의 설비투자비로 그의 50배의 경제적 파급효과를 나타날 수 있기 때문에 감귤기능성물질의 산업화효과는 매우 큰 것으로 나타났다.

• Management & Information Systems Review
• /
• v.36 no.3
• /
• pp.113-130
• /
• 2017

This study examines the effect of direct investment in Asia on firm value for nonfinancial firms listed on KRX between 2006 and 2015. We also explore whether the mediating effects of cashholdings the relationship between direct investment in Asian markets and corporate value. Recently, companies are increasing their cash holdings for risk management. Cashholdings are causing agent problems, which has a negative impact on corporate value. In this case, when the company conducts active investment activities such as foreign direct investment, it is possible to supply the appropriate funds in a timely manner, thereby cashholdings increase the possibility of success of foreign direct investment and alleviate the agent problem of cash holdings. For the analysis, the number of directly invested firms in Korean listed firms is used as the explanatory variables for the Chinese and Vietnamese markets where foreign direct investment is the most active, and cash holding is set as the moderating variable. As a result, direct investment in China and Vietnam showed a positive (+) relationship with firm value, and cashholdings have a positive the relationship between foreign direct investment and firma value. The implications of this paper are as follows. First, it is suggested that the direct value of direct investment can be enhanced the relationship between direct investment and firm value in Asia. In addition, it can be suggested that cash holdings play a role of effective investment supply in firms that implement foreign direct investment, positively affecting corporate value.

• Journal of Technology Innovation
• /
• v.26 no.4
• /
• pp.29-56
• /
• 2018

The purpose of this research is to examine whether investment portfolio composition affects the technological performance of corporate venture capital (CVC). The stages of investment are categorized from "start-up/seed", "early", and "expansion", to "later" stage. We posit and test that the investment stage composition in a portfolio is highly correlated with the growth potential and downside risk of the portfolio, which in turn influences an investor's innovation performance. To test this hypothesis, we used negative binomial panel regression with 21 years of deal data from 70 cases of CVC. The results show that there is an inverted U shaped relationship between investment portfolio composition and technological performance. This means that the more seed or early stage investment within the investment portfolio, the higher the innovation performance; however, if the amount of seed or early stage investment is over a certain level, the performance decreases. Further, this study finds that the external partners of a venture negatively moderate the inverted U shaped relationship between portfolio composition and innovation performance. We believe that corporate planners, venture capitalists, and policy makers will be helped by these results showing that companies can maximize their investment performance by considering the investment stage and progress of investments.

• The Korean Journal of Financial Management
• /
• v.26 no.4
• /
• pp.35-61
• /
• 2009

This paper investigates whether the investment of a chaebol firm depends on financial characteristics such as leverage and growth opportunity. We find that the investment of a chaebol firm increases as its growth opportunity increases. We also find that this positive effect of growth opportunity on the investment is more pronounced in a low-leverage firm than in a high-leverage firm. Unlike chaebol firms, however, the interaction effect between leverage and growth opportunity is not statistically significant for nonchaebol firms.