• International Journal of Highway Engineering
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• v.19 no.3
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• pp.19-30
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• 2017

PURPOSES : This study proposes the road asset valuation approach using alternative depreciation methods. It has become necessary to have asset management system according to the adoption of accrual basis accounting for governmental financial reporting and the amendment of the road act. Therefore, it is very important to analyze the effect of depreciation methods on road asset value as a basic research for road asset management system. METHODS : The Ministry of Strategy and Finance (MOSF) has mainly performed road asset valuation based on Write down Replacement Cost and Straight Line depreciation method. This study suggests some appropriate asset valuation methods for road assets through case analysis using three depreciation methods: Consumption-based depreciation method, Condition-based depreciation method, and Straight Line depreciation method. A road asset valuation data of national highway route 1 (year 2014) is used to analyze the effect of three depreciation methods on the road asset value. Road assets include land and structures (pavement, bridge, and tunnel). This study mainly focuses on structures such as bridges and tunnels, because according to governmental accounting standards, land and road pavement assets do not depreciate. RESULTS : The main results of this study are as follows. Firstly, overall asset value of national highway route 1 was estimated at 6.97 trillion KRW when MOSF's method (straight-line depreciation method) is applied. Secondly, asset value was estimated at 4.85 trillion KRW on application of consumption-based depreciation method. Thirdly, asset value was estimated at 4.37 trillion KRW when condition-based depreciation method is applied. Therefore, either consumption-based or condition-based depreciation methods would be more appropriate than straight-line depreciation method if we can use the condition data of road assets including land that are available in real time. CONCLUSIONS : Since road assets such as pavements, bridges, and tunnels have various patterns of deterioration and condition monitoring period, it is necessary to consider a specific valuation method according to the condition of each road asset. Firstly, even though road pavements do not depreciate, asset valuation through condition-based depreciation method would be more appropriate when requirements for application of non-depreciation approach are not satisfied. Since bridge and tunnel facilities show various patterns of deterioration and condition monitoring period by type and condition level, consumption-based depreciation method based on deterioration model would be appropriate. Therefore, it is necessary to have a reasonable asset management system to apply condition-based depreciation method and a periodic condition investigation to manage road assets well.

• 한국사회정책
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• v.25 no.2
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• pp.191-217
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• 2018

At the turn of the century, social policy in both developed and developing countries confronts new challenges and risks caused by the multiple crises in finance, food, energy and climate change. Changes in the structures of risks are particularly significant. In addition, the global economic crisis starting in 2008 has provided a new context of the global political economy. Both developed and developing countries have responded to these new challenges and risks differently. What risks do these responses aim to address? How can these responses address these risks? Can these diverse responses offer lessons for lower income economies attempting to address social development challenges alongside economic growth in the globalised and increasingly uncertain 21st century context? This paper aims to provide a critical review of the new trends, phenomena or directions of social policy discourse and practice to respond to the new risks in the context of development. Explaining the nature and forms of new challenges and risks and pointing out the potentials and limitations of social policy discourse, it introduces the key points of the previous research we have to keep in mind in formulating alternative social policy approaches. General principles and core elements of social policy in addressing new challenges and risks in the $21^{st}$ century, which are particularly visible in social policy reforms in emerging economies, are highlighted as a conclusion.

• Journal of Korean Society of Transportation
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• v.27 no.4
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• pp.31-40
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• 2009

Some road charges toll to finance the cost or to manage traffic congestion. With a growth of PPI projects, toll roads would be increase continuously. Tolls have a considerable influence on user's route choice, and sometimes can affect to the departure time and even to mode choice. For modelling toll roads, user's WTP or VOT has an important role and it is general that VOT is equivalent to the wages of workers. The current way of modelling technique yields various toll price elasticity from low to high. When there exist few alternative routes, unrealistic result that all traffic assigned to some shortest path may occur. The toll price elasticity can be influenced by alternative route and congestion level, but some result shows nearly unrealistic patterns. The model to forecast more realistic toll road demand is very essential for estimating toll revenue, choice of optimal toll level & collecting location and establishing toll charge strategy. This paper reviewed some literatures about toll road modelling and tested case study about the assignment technique with different VOT. The case study shows that using different VOT yields more realistic result than the use of single VOT.

• Management & Information Systems Review
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• v.34 no.3
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• pp.79-100
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• 2015

This study is to examine the factors that influence purchasing behavior and decision-making when consumers buy goods through mobile shopping, define purchasing decision-making with the steps of problem recognition, information search, alternative assessment, and purchasing behavior to understand mobile consumer behavior, and investigate how the factors of each step play roles and influence consumers' purchasing decision-making through positive analysis to figure out consumer purchasing behavior in mobile shopping. The study results, First, the user characteristics of information search influence flow. Second, in the relations between the user characteristics in the step of information search and perceived risk in alternative assessment, if recognition on gains is higher, perceived risk for time loss gets lower, and when the level of skills is higher, perceived risk gets higher, and it has been partly adopted that innovativeness does not influence risk perception. Third, in the relations between flow experience and purchasing intention, it has been found to be partially significant that remote presence and challenge do not influence purchasing intention but do influence excitement, attention concentration, and control and also do influence perceived risk and purchasing intention. Fourth, according to the results of analyzing the difference of consumer purchasing behavior by the types of involvement, practical involvement and sensual involvement, user characteristics and flow, and perceived risk differ by the types of products in terms of the search process, thereby changing purchasing intention. Lastly, the significance and limitations of this study was discussed.

• Journal of the Korea Society of Computer and Information
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• v.19 no.9
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• pp.117-124
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• 2014

This study aimed to analyze a relationship between a cognitive level of multicultural acceptability and multicultural attitude of Multicultural Family Support Center workers. As a result of the research with regard to this study purpose, there was a difference between variables after analyzing whether it is different between multicultural acceptability depending on social statistics characteristic of Multicultural Family Support Center workers, and multicultural attitude. In addition, it was shown that there was a significant relationship between variables in the result of analyzing the effect of Multicultural Family Support Center workers' multicultural perception, ability to form multicultural relationship, and factors of multicultural sympathy on openness, receptiveness, and flexibility of multicultural attitude. From the result, this research has significance that it suggests a politic alternative to improve the level of multicultural attitude of Multicultural Family Support Center workers.

• Journal of Arbitration Studies
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• v.20 no.3
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• pp.121-145
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• 2010

In the past, ADR has not been used as frequently in Japan as it has in other parts of the industrialized world. However, though litigation is still the most utilized vehicle of dispute resolution by Japanese financial institutions, this will be changing. The New Financial ADR system, which was created by a June 2009 amendment to the Financial Instruments and Exchange Act, is meant to deal with every stage of financial-related disputes and, as such, strives to resolve disputes before they become significant and acts to ameliorate any post-ADR issues that may remain, thereby completing the FIEA's purpose to protect investors. Since the foundation of the New Financial ADR system applies to all related industries, new provisions were set out in 16 business related acts, such as the Banking Act, the Insurance Business Act, and FIEA itself. October 2010 will mark the formal introduction of a new system of financial ADR in Japan. New Financial ADR in Japan will be modeled on the Financial Ombudsman Service in the United Kingdom, but will not feature one comprehensive dispute resolution system in which one dispute resolution institution covers all disputes in the financial field. The New Financial ADR system is merely one step towards a foundation of comprehensive financial ADR such as FOS. It must be noted, however, that this all important first step was over seven years in the making, involving a great deal of discussion, debate, and compromise amongst many parts of Japanese government, business, and society. The New Financial ADR system grants participating parties the ability to stop the clock on any statute of limitations which may correspond to any future possible court cases related to the dispute,13 and further grants the ability to suspend related court proceedings while the parties are utilizing the New Financial ADR system. In addition, where financial institutions have not accepted dispute resolution proceedings or have not accepted a special conciliation proposal, the Ministry of Finance may issue an order compelling compliance if it is found that certain actions are necessary to ensure the appropriate operations of a financial institution's business. In Japan, as best practices have not yet been created.

• Korean Journal of Construction Engineering and Management
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• v.21 no.2
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• pp.30-38
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• 2020

Inadequate cost management has widely been recognized as one of the most problematic areas in the Korean construction industry as many believes that public cost references are not reasonably reflecting the market conditions. 'Total Project Cost Management Guideline' developed by Ministry of Economy and Finance(MOEF) to govern public budget control has been identified as one of the main reasons for this problem. This study attempts to thoroughly review 'Total Project Cost Management Guideline' itself and quantitatively analyze the impact of it on project cost during procurement process. Different procurement methods are considered including turnkey & alternative, private contract, qualification examination, and lowest price bidding system in this quantitative impact analysis of 'Total Project Cost Management Guideline'. Analysis results shows that this governmental process works mainly as a constant cost-cutting tool throughout the procurement process.

• Journal of Digital Convergence
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• v.15 no.11
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• pp.107-112
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• 2017

This paper performed an experimental study to test the validity of the prospect theory proposed by Tversky and Kahneman as an alternative to the expected utility theory. 115 college students attended the hypothetical games to choose one of two lotteries, one is safe option while the other one is risky. The risky options were set up to have low, medium or high probability of payoffs or losses. The amount of payoffs and losses of the lotteries was either large or small. Maximum likelihood estimation of the hypothetical games have shown that in case of high probability of positive payoffs the respondents were risk averse and when the probability of positive payoffs were small the respondents were risk loving. when the possibility of loss is high they were risk loving, while the probability is of loss is low the respondents were found to be risk averse. When the probability of risky options were medium the results were significant statistically in case of only losses. The amount of positive payoff or losses does not affect the results. Overall the results of this experiments support the prospect theory more than those of Laury & Holts (2008).

• Journal of the Korean housing association
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• v.25 no.6
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• pp.93-100
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• 2014

Community child center is the facility of the highest number of children in child welfare facilities. But plan for the physical environment is not considered importantly because of insufficient finance. However impact of the physical environment in growing children is very closely related in terms of the emotional as well as a functional perspective. Therefore, it is necessary to understand current physical environment and to seek to find alternative methods that can be resolved space matters. As a basic study for this, in the present study we compare and integrate the design principles of child care facility guidelines. And we set up a framework of analysis to derive the design principles that are required in the target area. It is possible to analyze the environmental characteristics of community child center located in Gwang-ju from this framework, to obtain the flowing results. First, draw items are formation of inner direction, provide of environmental supportability, flexibility of use, healthy space. It can be understood that the emotional aspects and physical aspects should be considered comprehensively. Second, as a result of the case analysis, planning elements consideration of the functional aspects appeared high fulfillment rate generally. Planning elements of low fill rate ascertain result from the process take advantage of the narrow space and it was possible to ascertain the study for flexible utilization of space is not. As a result, in order to improve the problems of the target space, increasing the functionality is necessary and also requires consideration of sensitivity of the user's face.

• Economic and Environmental Geology
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• v.41 no.5
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• pp.551-562
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• 2008

Option pricing model in finance has been applied to price non-financial options, called real options. The real option valuation method is ideally suited to irreversible decision making under uncertainty, including the need to determine the optimal time to act and even change between alternative courses of action as information is collected. Therefore, the real option valuation method is expected to provide a superior and less subjective approach to determining optimal strategies for water resources supply projects, which have been reported to have huge risks due to uncertainties, and investors and policy makers need to build an optimal strategy - when and if to invest - with uncertainties and managerial flexibilities considered.