• ETRI Journal
• /
• 제27권2호
• /
• pp.206-218
• /
• 2005

We measure and compare externalities of IT and R&D capital stocks in different Korean industry sectors using inter-industry input-output tables of 1985, 1990, 1995 and 2000. We also compute the multiplier effects that relate to the directions of future economic effects. The key findings are as follows. First, we observed continuous capital deepening in all nine industries over the period of 1985 to 2000. Second, the backward multipliers of IT capital were the highest in the manufacturing industry. As for inter-industry externalities, the indirect backward multipliers, which exclude intra-industry backward multiplier effects within the industry, were also the highest in the manufacturing industry. Third, the forward multiplier effects of IT capital stock were the most substantial in the construction industry during the 1980s and in the manufacturing industry thereafter. Finally, using the transition multiplier matrix reflecting the backward effects of the two capitals in the past, the economic backward effects, especially the external economic effects, are predicted to increase through 2010 among all industries. The above findings suggest that, in order to maximize the forward and backward effects of the ever-increasing IT capital, we need to formulate an industry policy reducing the cost of capital accumulation in the manufacturing industry through improvement in productivity of the IT industry.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권10호
• /
• pp.1-10
• /
• 2021

This paper attempts to investigate the determinants of capital structure of Vietnamese firms and also shed light on some of the factors of the modern theory of capital structure which is relevant for explaining the capital structure in advanced countries which are also relevant in the context of Vietnam. Using panel data from more than 1000 Vietnamese listed enterprises census 2017-2020, the paper finds that leverage ratio of Vietnamese firms is significantly related to probability. The firms have high level of fixed assets which they use as collateral, resulting in higher debt ratio, which is in line with the pecking order theory. The result also confirm that highly targeted debt ratio is positively correlated with the industry characteristics (using real estate firms as a benchmark), in which firm operates. Furthermore, consistent with the trade-off hypothesis, the leverage ratio is positively affected by non - debt tax shield. The result confirms that a large number of companies are state - owned, will have an insignificant impact of firm's size (as reverse proxy for bankruptcy cost) on leverage ratio. We also find that there is no distinction between state-owned enterprises and private enterprises due to strict adherence to the rules set by the Vietnamese government. Distinct from other countries, corporate income tax has slight impact on capital structure in Vietnamese firms.

• 한국축산시설환경학회지
• /
• 제3권1호
• /
• pp.49-56
• /
• 1997

Most of Korean broiler farms are constructed with vinyl houses. Such types of broiler farms might be cheaper in terms of cost, but poor in terms of environment condition. According to enlargement of broiler farm size, high value production systems or automatic facilities are introduced in this field. However, investment may not always guarantee the profit of the management. Therefore, it is necessary to undertake the investment analysis before decision making for the investment. Under the assumption that 870 Pyoung(≒$3.3㎡) of a broiler farm within 1,740 Pyoung(≒3.3㎡) of land is built with the producing capacity of 50,000 heads of chicken in a time. The total investment is calculated to be 600 million won(1,000 won≒$1.1), and out of them 58.1% is provided by the owner, 31.6% from the government loan, 5.8% from government subsidy, and 5.3% from other agencies or banks. The expected profit of the broiler farm is 64.6 million won(1,000 won≒$1.1) per year. The IRR calculated is 0.0808 which means that the rate to profit of this project would be 8.1%. This also means that for this investment the interest rate of the capital provided should be less than 8.1% per year. Considering that the current opportunity cost of the own capital is 8.5% this project is not so attractive for those who is going to build broiler farms mainly with their own capital. In other words this project would not be profitable, unless the average interest rate of the loans provided for this project is less than 8.1% per year.

• Journal of Biosystems Engineering
• /
• 제19권4호
• /
• pp.329-342
• /
• 1994

In order to reduce the production cost and improve the quality of dairy feed, several dairy feed mill models suitable for Korean farm size were developed. 6 TMR models were developed for the 1000, 600, 200 head of dairy cattle, and evaluated for capital investments and production costs to suggest the best model. Followings are summary of this study : 1. TMR terminal models were designed that dairy production capacity of TMR1000 models are 40 ton/day, TMR600 model is 20 ton/day and TMR200 models are 10 ton/day. Also, they can be extended their capacity up to twice. 2. Capital investment of TMR terminal models is 145 million won for TMR200-1,205 million won for TMR600 and 609 million won for TMR1000-3 model. 3. The bigger TMR terminal model has the more advantage in production cost. The best model for 1000 head of dairy cattle farm was TMR1000-3 with 10,849 won/ton of production cost, TMR600 for 600 head of dairy cattle farm with 13,829 won/ton, TMR200-1 for 200 head of dairy cattle farm with 16,943 won/ton of production cost, so feed production cost for the 200 head farm was 50% higher than 1,000 head size farm.

• 산업경영시스템학회지
• /
• 제41권2호
• /
• pp.153-158
• /
• 2018

At the Bank of Korea, capital stock statistics were created by the PIM (perpetual inventory method) with fixed capital formation data. Asset classifications also included 2 categories in residential buildings, 4 non-residential buildings, 14 constructions, 9 transportation equipment, 28 machinery, and 2 intangible fixed assets. It is the Korean government accounting system which is developed much with the field of the national accounts including the valuation, but until 2008 it was consistent with single-entry bookkeeping. Many countries, including Korea, were single-entry bookkeeping, not double-entry bookkeeping which can be aggregated by government accounting standard account. There was no distinction in journaling between revenue and capital expenditure when it was consistent with single-entry bookkeeping. For example, we would like to appropriately divide the past budget accounts and the settlement accounts data that have been spent on dredging into capital expenditure and revenue expenditure. It, then, tries to add the capital expenditure calculated to FCF (fixed capital formation), because revenue expenditure is cost for maintenance etc. This could be a new direction, especially, in the estimation of capital stock by the perpetual inventory method for infrastructure (SOC, social overhead capital). It should also be noted that there are differences not only between capital and income expenditure but also by other factors. How long will this difference be covered by the difference between the 'new series' and 'old series' methodologies? In addition, there is no large difference between two series by the major asset classification level. If this is treated as a round-off error, this is a problem.

• Nuclear Engineering and Technology
• /
• 제51권2호
• /
• pp.631-640
• /
• 2019

Thorium ($^{232}Th$) is four times more abundant than uranium in nature and has become a new important source of energy in the future. This is due to the ability of thorium to undergo the bombardment of neutron to produce uranium-233 ($^{233}U$). The aim of this study is to investigate the production cost of thorium oxide ($ThO_2$) resulted from the thorium extraction process. Four main parameters were studied which include raw material and chemical cost, total capital investment, direct cost and indirect cost. These parameters were justified to obtain the final production cost for the thorium extraction process. The result showed that the raw material costs were $63,126.00 - $104,120.77 (0.5 ton), $126,252.00 - $178,241.53 (1.0 ton), and $1,262,520.00 - $1,782,415.33 (10.0 tons). The total installed equipment and total cost investment were estimated to be approximately $11,542,984.10 and $13,274,431.715 respectively. Hence, the total costs for producing 1 kg $ThO_2$ were $6829.79 - $6911.78, $3540.95 - $3592.94, and $501.18 - $553.17 for 0.5, 1.0, and 10.0 tons respectively. The result concluded that with higher mass production, the cost of 1 kg $ThO_2$ would be reduced which in this scenario, the lowest production cost was $$501.18kg^{-1}$-$$553.17kg^{-1}$ for 10.0 tons of $ThO_2$ production.

• 한국원자력학회:학술대회논문집
• /
• 한국원자력학회 1999년도 춘계학술발표회요약집
• /
• pp.457-457
• /
• 1999

• 한국정보디스플레이학회:학술대회논문집
• /
• 한국정보디스플레이학회 2004년도 Asia Display / IMID 04
• /
• pp.383-388
• /
• 2004

In this paper an alternative Active Matrix LCD technology is described with scalable, low cost processing. The Dual Select Diode AMLCD requires 60% lower capital investment in the array process than a-Si TFT arrays and results in 20% lower cost LCD modules. Development at several AMLCD manufacturers is in progress.

• 경영과학
• /
• 제8권1호
• /
• pp.41-50
• /
• 1991

Within the current construction industry, constractor equipment management practices lack structure and often are not addressed through an economic analysis and evaluation process. This paper explores two areas...cost of capital and inflation...with the intention of providing insight for a more structured and economic based approach to contractor equipment replacement practices rather than by the traditional "rule of thumb".umb".uot;.

• TTA 저널
• /
• 통권96호
• /
• pp.69-77
• /
• 2004

We developed QoS based Optical Transport System for premium packet transport network.. Our system will reduce capital cost and operation cost. And also It generate QoS guaranteed L2 VPN service for enterprise. The key technologies are packet emulation for