• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.231-239
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• 2021

The purpose of this study is to analyze the effect of risk efficiency, financial decisions, and financial performance on firm value due to advances in financial reporting technology. This research was conducted on all banking sub-sector companies listed on the Indonesian capital market during a period of eight years, namely 2012-2019 which were selected using the purposive sampling method. The advancement of financial reporting technology is measured by two indicators based on the Internet financial reporting approach. Risk efficiency is measured using three indicators with a risk proxy relative efficiency approach using value at risk. Financial decisions are measured by two indicators that represent funding decisions and investment decisions. Financial performance is measured by two indicators with the profitability approach, and firm value is measured by two indicators based on the investor perception approach. The data analysis technique in this study used multivariate analysis with SEM-PLS. The empirical findings of this study are the advances in financial reporting technology, financial decisions, and risk-based efficiency value have a significant effect on firm value, while financial performance does not have a significant effect on firm value. Banking companies reduce risk to achieve efficiency and result in lower profits.

• Journal of environmental and Sanitary engineering
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• v.8 no.2
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• pp.65-84
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• 1993

This study reviewed the current status and problems of sewerage system in Korea and then proposed possible methods to correct the problems. Also, evaluation of future development in sewerage system is included. It can be summarized as follows : 1. Investment in sewerage system is relatively low . 0.23% of GNP, Considering that the investment portion is 0.35% in OECD and 0.63% in Japan, it should be increased further. 2. The reasons wily the investment in sewerage system is low can be ' (1) Low priority is given to the investment in sewerage system. Local government builds and operates its own wastewater treatment plant. Local government as well as residents prefer to invest their money in roadwork, housing and parks to in wastewater treatment facilities because of greater investment effects. (2) Besides capital investment, more maintenance cost is needed for sewerage system. Proper operation of wastewater treatment facilities requires a well-trained operator. Because of public conception that operation of wastewater treatment facility is a dirty job, it is difficult to find a well-trained operator. (3) It is difficult to estimate the effect of sewerage system (4) Cost required to build and maintain wastewater treatment facility should be paid by people, who benefit from the facility. People to benefit are sometimes different from people to pay. 3. Advanced treatment is necessary to protect the bay aura and raw water source as well as to prevent eutrophication of lakes and ponds. 4. Wastewater treatment facility were mainly build in big cities during the decade of 1980. Followings should be solved first to expand the facilities. (1) Rapid repair and construction of sewer. (2) Technical development of wastewater treatment . Prevention of efficient and economical wastewater . Development of efficient and economical wastewater treatment techniques . Development of high-efficiency treatment using bioreactor . Reuse of wastewater treatment plant effluent (3) Sludge treatment and disposal . Composting of sludge cakes . Development of techniques to reduce the volume of sludge cake : incineration and reuse of sludge ash and slag. (4) Utilization of wastewater treatment facilities . Construction of community parks or sports families(ie, on the tops of the covered aeration tanks and sedimention tanks) Construction of wastewater treatment facilities under ground and of parking facilities and community parks above ground. (5) Education of wastewater treatment personal.

• The Korean Journal of Financial Management
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• v.27 no.1
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• pp.181-208
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• 2010

In July 2007, Korean government has passed "The Capital Market and Financial Investment Services Act" to further develop the capital markets and the Act was to become effective in February 2009. Using a large sample of Korean firms, we have examined (i) the effect of underwriting activities on the firm value (bond spread) comparing commercial bank and investment bank, and (ii) the determinants of the firm value changes following underwriting activities of bank. To test our goal, we collected a wide range of samples of data for bond issuing activities executed by Korean firms listed on the Korea Stock Exchange (KSE) between 2000 and 2003. Our paper is distinguished from previous studies on this subject in a way that we analyzed the effect of corporate bond underwriting activities with regard to commercial banking and investment banking. Initially, we set up a hypothesis that "Certification View" and "Conflict-of-interest View" are major driving forces behind cross-firm differences in performance following bond issuance. We find that, in general, underwriting by investment bank (securities company) brings a positive effect on the firm value (spread between bench mark rate and bond issuing rate). This result indicates that firm value has been negatively affected by the bank underwriting and provides the evidence for "Conflict-of-interest View" in Korea. Our studies have also revealed that any change in firm value following bond issuance is positively related with the firm size (total asset), operating performance, liquidity (cashflow), and equity ownership by foreign investors. Overall, our results support the view that bank underwriting activities can play an important role in determining firm value and financial strategies under "The Capital Market and Financial Investment Services Act" of 2007.

• Knowledge Management Research
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• v.22 no.4
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• pp.237-260
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• 2021

This study aims to make suggestions for more effective budget utilization and R&D project investment through verification of the efficiency of research results for the government's R&D projects. Efficiency was analyzed using Data Envelope Analysis(DEA) and 'Malmquist Index analysis' for the research results of convergence research projects organized by the National Science and Technology Research Association. The analysis targets were convergence research projects organized by the National Science and Technology Research Association and general entrusted research projects by government-funded research institutes, and dynamic analysis was conducted using DEA and Malmquist Index analysis. As a result of the analysis, the convergence research project showed high efficiency from the static perspective of DEA. On the other hand, from a dynamic perspective through the Malmquist Index analysis method, the efficiency of the general consignment project gradually declined, while the efficiency of the convergence research project improved every year. This suggests that convergence studies have higher results than general studies. Through the results of this study, we intend to present objective standards for performance evaluation of government R&D investment and provide objective implications for rational investment policies and research project planning of research personnel and research funds to improve efficiency for government-funded research institutes.

• Management & Information Systems Review
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• v.39 no.2
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• pp.163-179
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• 2020

Recently, impact investment has attracted attention all over the world. This is intended to effectively solve problems by combining private capital and various financial techniques with social and environmental needs, as it is recognized that it is difficult to solve social and environmental problems. Impact investment means a mixture of financial, social, and environmental aspects. This refers to an investment focused on such a blended value, through which it simultaneously achieves financial and social values such as return on investment. The purpose of this study is to study whether impact investment, which has become a new issue, is actually applicable in Korea. This study first considers the concept and method of impact investment, and a prior study on social enterprises and impact investment that pursue social values. In particular, after analyzing in detail the social performance-related bonds (SIB) and operational cases, we intend to explore the possible applicability of impact investment to Korea. The results and implications of this study are, first, changes in the government's attitude toward impact finance. The government should entrust innovative public works to market-proven service providers to enhance the professionalism and efficiency of public service projects. Second, the legal system must innovate. Impact investment should provide an institutional foundation to pursue social problem solving simultaneously, not maximizing financial performance. Third, when investing in public works in the private sector, impact investment must clearly demand social performance and clarify the evaluation accordingly. The project execution process should create an impact environment that is more free and active.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.523-529
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• 2017

This study analyzed the financial information between 2011 and 2014 comparing management performance and utilization of capital and human resources between private non-profit general hospitals and regional public hospitals operated as general hospitals. The purpose of this study was to enhance the productivity for financial independence of regional public hospitals. Comparison analysis variables were value added to the total assets, value added to the productive activity tangible fixed assets, value added to personnel expenses, ratio of value added, and operating margin to revenues. According to the analysis results, regional public hospitals showed lower investment efficiency indicator and higher ratio of value added, as well as significantly lower operating margin-to-revenues compared with private non-profit general hospitals. Moreover, the effect of investment efficiency indicators on operating margin-to-revenues was value added to the productive activity of tangible fixed assets and value added to personnel expenses in regional public hospitals; the value added to personnel expenses in private non-profit general hospitals had a significant effect on the operating margin-to-revenues, the effect of value added to personnel expenses was the greatest. Therefore, it is necessary to asset utilization to the revenue and propriety of human resources to personnel expenses in regional public hospitals.

• Proceedings of the KSR Conference
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• 2008.11b
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• pp.1900-1906
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• 2008

According as zone of life of big city is expanded by new city development etc.., need special skill master plan compensation which can be systematic for wide area traffic problem solution and confusion expense minimization in the metropolitan area because wide area of capital region traffic is gone continuously and continues. Accordingly, Kyonggi Province suggested rapid-transit railway achievement that can connect Seoul Gangnam in 20 minutes with Dongtan new city recently. MLTM(Ministry of Land Transport and Maritime Affaris) announced "Capital region railway network improvement plan research services (2007.12)" result that Gangnam High-speed railway route (Suse $\sim$ Dongtan $\sim$ Pyeongtaek) construction for offer High-speed railway service to capital region and Kyonggi southern part area inhabitantses and need to line capacity tribe solution by Seoul-Busan high-speed railway second-stage and Honam high speed railroad completion. Is judged that need examination about wide area rapid-transit railway combined application operation that take advantage of rail track reserve capacity of High-speed railway for utilization efficiency elevation of country and efficient investment of national finance according as High-speed railway and Gangnam rapid-transit railway route that is suggested in Kyonggi Province are overlaped. Therefore, in this research, I wish to quote investment efficiency plan of railroad business by that different kind's train is run in uniformity track by presenting combined application operation plan and working expenses curtailment effect etc. that is optimized through analysis of roadbed and E & M technology condition, intermediate station plan, train operation planning etc. in case of wide area rapid-transit railway and high-speed railway run combined application.

• ETRI Journal
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• v.40 no.3
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• pp.355-365
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• 2018

The increase in data traffic calls for investment in mobile networks; however, the saturating revenue of mobile broadband and increasing capital expenditure are discouraging mobile operators from investing in next-generation mobile networks. Mobile network sharing is a viable solution for operators and regulators to resolve this dilemma. This research uses a difference-in-differences analysis of 33 operators (including 11 control operators) to empirically evaluate the cost reduction effect of mobile network sharing. The results indicate a reduction in overall operating expenditure and short-term capital expenditure by national roaming. This finding implies that future technology and standards development should focus on flexible network operation and maintenance, energy efficiency, and maximizing economies of scale in radio access networks. Furthermore, mobile network sharing will become more viable and relevant in a 5G network deployment as spectrum bands are likely to increase the total cost of ownership of mobile networks and technical enablers will facilitate network sharing.

• The Journal of the Korea Contents Association
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• v.9 no.8
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• pp.41-48
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• 2009

As enactment and enforcement of capital markets integration law, investment banks are going to be appeared in our financial market and be able to provide payment services. To provide these kinds of services, investment banks need to be participated in the financial network. As the financial network enormously affect the economy, the operation of the network will require a variety of risk managements. In this paper we define operational risk management criteria for the financial network such as security, in-time response, economical efficiency and stability to be required for the healthy economy and propose the configuration of the financial network system based on virtual private networks for investment banks to provide payment services. Finally we analyze that the proposed VPN configuration for financial networks has high security and in-time response with the cost and operation effective.

• Journal of Navigation and Port Research
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• v.44 no.5
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• pp.400-406
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• 2020

In this study, we first measured the malmquist productivity index by DEA among the Korean public firms. Second, there are 12 public corporations whose productivity (MPI) has decreased compared to 2014. This is mainly because of a decrease in productivity, as well as a decrease in the technical efficiency change index (TECI), impacted by the internal environment, and the increase in productivity because of an increase in the technology change index (TCI) impacted by the external environment. Finally, the analysis of the impact on the management assessment scores showed that the productivity (MPI), scale efficiency (CRS), size of sales, operating profitability, and total capital investment efficiency are significantly related (+), except for the asset turnover, which is a static financial ratio. Meanwhile, the management evaluation scores between the high-productivity public corporations and low-performing public corporations were significantly discriminating. Thus, it is confirmed that the nation's state-run companies must manage their MPIs in a time series to score high in management evaluation.