• Korean Journal of Construction Engineering and Management
• /
• v.21 no.6
• /
• pp.75-83
• /
• 2020

This study intends to explore the scope of the recognized equity capital of developer in real estate project finance loan screening. The factors which can be recognized as equity capital are categorized into 24 factors with 3 upper categories and 6 mid categories. In order to develop the importance weight of factors, AHP and Fuzzy methodologies are implemented based on survey analysis by experts in financial institutions. Research findings indicate that the land cost, evacuation cost, and real estate acquisition tax as land-related direct costs, and the design cost, traffic impact assessment cost, underground safety impact assessment cost, boundary surveying cost, and geological survey cost as the construction permit-related costs are higher than any others. On the other hand, the supplementary costs related to the operation of the developer show very low importance weight. Accordingly, the hierarchy of factors for equity capital should be clearly developed in order to minimize any dispute and prevent non-performing loans to real estate project finance.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2004.11a
• /
• pp.245-251
• /
• 2004

Determination the optimal containership size is the most important factor for competitiveness if shipping companies. Accordingly, the objective if this research is determining the optimal containership size by service routes. Total shipping cost is calculated at the ground if capital cost, vessel operation costs, voyage costs, port charge and miscellaneous cost for 'Europe-Far East', 'Far East-North America' and 'Europe-Far East-North America' Services. Finally, the optimal containership size was utilized through total shipping cost, slot quantity if containership and average throughput by containership.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.8
• /
• pp.71-80
• /
• 2022

This study aims to investigate the effects of fair value valuation of biological assets and bearer plants measured at historical cost on the cost of third-party capital. The study contributes to the agricultural sector and the International Accounting Standard - IAS 41, which has been modified to remove the requirement to apply fair value for bearer plants, one of the primary biological assets with no active market. For this, 182 companies from 39 countries were studied in the years 2020 and 2021, with information taken from the Thomson Reuters Eikon platform. The methodology involves regression by the ordinary least squares method based on the model of Daly and Skaife (2016). The results show that the biological asset at fair value does not influence the cost of debt and that the measurement of bearer plants at historical cost has no effect on the cost of debt. Fair value did not change the perceived cost of debt of the analyzed companies in the studied period, contrary to Daly and Skaife (2016). Finally, the cost of third-party capital can be influenced by other aspects related to profit quality, which were not examined in this paper, such as profit management.

• Korean Journal of Human Ecology
• /
• v.23 no.6
• /
• pp.1231-1247
• /
• 2014

The purpose of this study was to explore housing cost burden and financial support from parents to afford housing costs of college students from Capital and non-Capital regions. On-site and on-line questionnaire surveys were conducted to college students between March 3 and April 4, 2014, and total 241 useable responses were collected. Findings are as follow: (1) Jeon-se renters and monthly renters with deposit in Capital region were found to have paid greater housing costs than those in non-Capital region; (2) 86% of Jeon-se renters, 95% of monthly renters with deposit, and 80% of monthly renters without deposits were found to have received parental supports to pay housing costs; (3) respondents in Capital region tended to perceive influence of housing costs on housing choices greater than those in non-Capital region; and (4) more than a quarter of the respondents thought it would be proper to receive parental supports for all expenses until college graduation.

• 한국신재생에너지학회:학술대회논문집
• /
• 2008.05a
• /
• pp.87-90
• /
• 2008

Levelized generation cost(LGC) has been widely used in assessing feed-in tariffs(FiT) for electricity generating from new and renewable energies. Current FiTs for renewable electricity in Korea have been fixed and applied with realistic economic data by the efforts of KERI(Korea Electrotechnology Research Institute) since October 2006. Some critical issues on the estimation of LGC are, however, found in KERI's report. Major issues are the estimation of capital cost, the consideration of corporate tax, and the application of economic life cycle in the formulae for LGC. These critical issues are examined and interpreted in a correct way in this paper.

• Proceedings of the Safety Management and Science Conference
• /
• 2013.11a
• /
• pp.99-104
• /
• 2013

비용편익분석은 어떤 사업으로 인하여 자연배분의 변화가 생길 때 그에 따른 경제적 편익을 측정하게 되며 사업을 시행하여 생기는 편익과 비용을 비교하여 경제성을 평가하고 대안 중에서 우선순위를 결정할 때 유용하다. 따라서, 본 논문은 자본에 관한 투자기준을 마련하기 위해서 분석용 모델인 "비용편익분석"을 활용 하여 제조기업의 어떤 사업계획에 의하여 생겨나는 자본요소가 어떻게 투자되어야 생산비용을 최소화 할 수 있는지를 자본투자에서 가장 핵심적인 생산설비투자와 기술개발투자에 대한 비용편익분석을 통하여 그 방법론을 제시함으로써, 자본투자에 있어서 "비용효과분석"의 활용성을 확인하고자 한다.

• International conference on construction engineering and project management
• /
• 2013.01a
• /
• pp.467-474
• /
• 2013

Construction contactors must continuously seek to improve their cash flows, which reside at the heart of their financial success. They require careful planning, analysis, and optimization to avoid the risk of bankruptcy, remain profitable, and secure long-term growth. Sources of cash include bank loans and retained earnings, which are conceptually similar in that they both incur a cost of capital. Financial management therefore requires accurate yet customizable modeling capabilities that can quantify all expenses, including said cost of capital. However, currently existing cash flow models in construction engineering and management have strongly simplified the manner in which interest is assessed, which may even lead to overstating it at a disadvantage to contractors. The variable nature of cash balances, especially in the early phases of construction projects, contribute to this challenging issue. This research therefore extends a new cash flow model with an accurate interest calculation. It utilizes singularity functions, so called because of their ability to flexibly model changes across any number of different ranges. The interest function is continuous for activity costs of any duration and allows the realistic case that activities may begin between integer time periods, which are often calendar months. Such fractional interest calculation has hitherto been lacking from the literature. It also provides insights into the self-referential behavior of compound interest for variable cash balances. The contribution of this study is twofold; augmenting the corpus of financial analysis theory with a new interest formula, whose strengths include its generic nature and that it can be evaluated at any fractional value of time, and providing construction managers with a tool to help improve and fine-tune the financial performance of their projects.

• International Journal of Human Ecology
• /
• v.13 no.2
• /
• pp.39-52
• /
• 2012

The purpose of this study is to compare the economic burden and cost of child rearing, mainly between families with job-holding mothers and job-exit mothers. The sample consisted of 665 mothers with at least one child aged one year or less from the 2009 Panel Study on Korean Children. We found social capital reduced the child rearing costs for both job-holding and job-exit mothers, while community resources significantly reduced the costs of child rearing only for job-holding mothers. Based on these results, implications for family policy for families with young children are suggested.

• The Journal of the Korea Contents Association
• /
• v.19 no.9
• /
• pp.233-241
• /
• 2019

The purpose of this study is to empirically analyze whether the influence of foreign investors from the monitoring role in Korean capital market is observed differently in accordance with the global financial crisis situation. We collected a total of 2,919 firm data from 2003 to 2015 and performed the empirical tests between foreign investor ownership and firms' cost of equity capital separately according to the situation of the global financial crisis. From the empirical results, foreign investors in general were playing a positive function in the Korean capital market by effectively performing the monitoring role for companies. However, we observed that their monitoring role is not effectively performed when the risk level of capital market is maximized, such as during the global financial crisis. The study suggested that the influence of foreign investors may vary depending on the level of risk in the capital market, which is expected to contribute to the market participants and academia.

• Journal of Korean Society of Coastal and Ocean Engineers
• /
• v.35 no.3
• /
• pp.57-66
• /
• 2023

In order to understand the economic feasibility of an offshore wind farm, this paper analyzed the differences in LCOE (levelized cost of energy) according to the support type and construction method of the substructure in terms of LCOE and sensitivity analysis was conducted according to the main components of LCOE. As for the site to be studied, the Southwest Offshore Wind Farm was selected, and the capital expenditures were calculated according to the size of the offshore wind farm and the installation unit. As a result of the sensitivity analysis, major components showed high sensitivity to availability, turbine related cost, weighted average cost of capital and balance of system related cost. Moreover, the post-piling jacket method, which was representatively applied to the substructure of the offshore wind farm in Korea, was selected as a basic plan to calculate the capital expenditures, and then the capital expenditures of the pre-piling jacket method and the tripod method were calculated and compared. As a result of analyzing the LCOE, it was confirmed that the pre-piling jacket method of the supporting structure lowers the LCOE and improves economic feasibility as the installation number of turbines increases.