• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.581-605
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• 2018

In the soft drink industry, especially small and medium enterprises in Japan, there is a possibility of conversion from a labor-intensive industry to a capital-intensive. The demand for soft drinks may not be satisfied in the summer because the supply is too low to meet the demand. To address this situation, this paper proposes optimal investment that integrates demand uncertainty, based on real options approach (ROA) and seasonal autoregressive integrated moving average. Two alternative options are compared and evaluated. One is the Bermudan option: to employ additional workers to elevate efficiency in summer and laying off in winter, this attitude is repeated each year. The other is the American option: to replace equipment to increase machine ability throughout the year. Results in ROA show that the highest improvement is gained if the two options are in a symbiotic relationship. Soft drink producers should search for replacing equipment, using the employees repeatedly. A temporary decision is not equal to an infinite decision.

• Korean Journal of Construction Engineering and Management
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• v.7 no.4 s.32
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• pp.118-125
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• 2006

The Korean government is encouraging positively PIP(private infrastructure project) to relieve financial burden and get the facilities in time. The portion of the PIP has grown rapidly into 15% of the whole SOC(Social Overhead Capital) projects. It is estimated that the growth will continue for the present. However, there are still rising problems on efficiency of the project and productivity, properness of the project scale are pointed against surprising growth. In this study, we analyze underlying problems of private infrastructure investment project and suggest CM Models to relieve the problems. To verify the validity of the suggested models, a survey has been conducted through questionnaires and analyzed the taste of the stakeholder. The owner-support Model is chosen as the practical model to apply in time. By applying the suggested model to PIP, it is possible to enhance the efficiency and productivity of the project.

• International Area Studies Review
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• v.12 no.2
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• pp.149-173
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• 2008

This paper empirically studies the relationship between R&D expenditures and firms value. First, we can conjecture that R&D expenditures are enhancing the firms value. Such findings depend on an existing research, which R&D expenditures are intangible asset rather than expenses. Although, under U.S. accounting standards, financial statements do not report intangible assets but costs. Second, we can conjecture that short-term, the rate of increase in R&D expenditures had negative influence on firms valuation, because such findings indicates that R&D spending of costs incur mis-pricing. But long-term, consistently R&D expenditures may attract investors on the stock market. Third, lately firms focus on capital efficiency management, such a firms R&D expenditures incur high ROE. Generally investors put too much confidence in capital efficiency management and high ROE may attract investors on the stock market. Finally, High-Tech through the R&D investment improve firms competitive advantage, by competitive advantage, firms have reduced cost and raised productivity in the end improve firms value.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.22 no.51
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• pp.175-187
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• 1999

The notion of productivity has been extended from the quantitative change of input factors to the efficiency change meaning efficient use of resources, and to the technical change meaning the qualitative improvement of input resources. In this way, the technical change is termed as total factor productivity in the individual businesses or the manufacturing industries. They should efficiently respond to the variations of economic environment and at the same time, have to make the efforts to improve productivity by increasing managerial efficiency and rasing the level of technology change for the continuous growth. Considering the growing importance of productivity, this study closely examines the factors influctuation on the productivity, fluctuation using total factor productivity in korean manufacturing industries. For the objective this study investigates the methods of measurement about total factor productivity, establishes the hypotheses based on the preceding research and finding. The results are obtained through the examination on the outcoms of regression analysis and related data. The results can be summarized as follows, First, in the progress of korean industrialization, the qualitative growth does not depend on the total factor productivity of the technical advance, and does not lead to the industry expansion. That is, the contribution of total factor productivity turns out to be relatively low. Second, it is necessary for the manufacturing industry to improve the level of technology and to emphasize the innovation of business, since the capital investment does not completely become fixed in the growth rate of productivity. Finally, continuous R&D investment should be made to increase total factor productivity. Namely, the regulation of industrial structure with an intensive technical development is essential and should be based on scientific and technical knowledge.

• Journal of Korea Port Economic Association
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• v.23 no.1
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• pp.19-39
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• 2007

Korean port developments have been mostly made by the central government. With the introduction of the Port Authority system, however, roles and function assignments of the central government in port development have been in change and the Port Authority has to find a solution for inducement of private investment in port development. This paper has examined the current legal system of port developments and then sought the way for inducement of private capital to improve specialty and efficiency of harbor facilities management and development under Port Authority. As the Ministry of Maritime Affairs and fisheries(MMAF) has two types of legal system for inducement of private investment on port developments, the Port Authorities can also have two types of private finance. Private finances by the Port Authorities has some more critical advantages than the one by the central government. It is also required to change the the administrative permissions and concession agreements which MMAF conveyed to private participants in port developments into the concession agreements between Port Authorities and private participants.

• Proceedings of the Materials Research Society of Korea Conference
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• 2003.11a
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• pp.128-128
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• 2003

Electrochromism (EC) is defined as a phenomenon in which a change in color takes place in the presence of an applied voltage. Because of their low power consumption, high coloration efficiency, EC devices have a variety of potential applications in smart windows, mirror, and optical switching devices. An EC devices generally consist of a transparent conducting layer, electrochromic cathodic and anodic coloring materials and an ion conducting electrolyte. EC has been widely studied in transition metal oxides(e.g., WO$_3$, NiO, V$_2$O$\sub$5/) Among these materials, WO$_3$ is a most interesting material for cathodic coloration materials due to its lush coloration efficiency (CE), large dynamic range, cyclic reversibility, and low cost material. WO$_3$ films have been prepared by a variety of methods including vacuum evaporation, chemical vapor deposition, electrodeposition process, sol-gel synthesis, sputtering, and laser ablation. Sol-gel process is widely used for oxide film at low temperature in atmosphere and requires lower capital investment to deposit large area coating compared to vacuum deposition process.

• Korean Chemical Engineering Research
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• v.56 no.1
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• pp.6-13
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• 2018

Utilizing the heat of cooling water discharge of coal-fired power plant, pipeline investment costs for businesses that supply heat to agricultural facilities near power plants increase in proportion to installation distance. On one hand, the distance from the power plant is a factor that brings difficulties to secure economic efficiency. On the other, if the installation distance is short, there is a problem of securing the heating demands, facility houses, which causes economical efficiency to suffer. In this study, the economic efficiency of 1km length of standard heat pipeline was evaluated. The sensitivity of the heat pipe to the new length variation was analyzed at the level of government subsidy, amount of heating demand and the incremental rate of pipeline with additional government subsidy. As a result of the analysis, it was estimated that NPV 131 million won and IRR 15.73%. The sensitivity analysis showed that NPV was negative when the length of heat pipe facility exceeded 2.6 km. If the government supports 50% of the initial investment, the efficiency is secured within the estimated length of 5.3 km, and if it supports 80%, the length increases within 11.4 km. If the heat demand is reduced to less than 62% at the new length of the standard heat pipe, it is expected economic efficiency is not obtained. If the ratio of government subsidies to initial investment increases, the elasticity of the new bloc will increase, and the fixed investment, which is the cost of capital investment for one unit of heating demand, will decrease. This would result in a reduction in the cost of production per unit, and it would be possible to supply heat at a cheaper price level to the facility farming. Government subsidies will result in the increased economic availability of hot plumbing facilities and additional efficiencies due to increased demand. The greater government subsidies to initial investment, the less farms cost due to the decrease in the price per unit. The results of the study are significant in terms of the economic evaluation of the effectiveness of the government subsidy for the thermal power plant heat utilization project. The implication can be applied to any related pilot to come.

• Management & Information Systems Review
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• v.35 no.2
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• pp.45-66
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• 2016

Firms can make scale of economy and scope of economy by internalizing and using new advanced technology and knowledge from technology cooperation network, decrease risk and cost with partner firm of technology cooperation network, and increase market advantage of product & strengthen firms' position in the market. Due to the advantages of technology cooperation network, the related studies have focused on the positive effect of technology cooperation network. However, the related studies investigating the relationship between technology cooperation network and firm performance have only examined the role of technology cooperation network. Safeguarding mechanism, relationship learning, and relationship performance are categorized into the process of technology cooperation network, and this categorization is applied as resources, capability, and performance by resource based view. The empirical results are reported as belows. First, relationship specific investment and relationship capital positively affect on relationship learning as capability. Second, information sharing, common information understanding, and relationship specific memory development positively affect on long-term orientation, but information sharing has no impact on efficiency and effectiveness. Third, relationship specific investment positively affects on relationship capital and efficiency and effectiveness have positive effects on long-term orientation. Applying technology cooperation network in asymmetric technology dependency with resource based theory, this study suggested the importance of both safeguarding and relationship learning by investigating the relationship among safeguarding, relationship learning, and relationship performance. And it is worthy that this study investigated how firms' behavior change affects relationship performance in the relationship of technology cooperation partner.

• Journal of Distribution Science
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• v.10 no.7
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• pp.33-41
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• 2012

The purpose of this study is to analyse the state of the energy industry and to determine the efficiency of its functioning on the basis of energy conservation principle and application of innovative technologies aimed at improving the ecological modernisation of agricultural sectors of Kazakhstan. The research methodology is based on an integrated approach of financial and economic evaluation of the effectiveness of the investment project, based on calculation of elasticity, total costs and profitability, as well as on comparative, graphical and system analysis. The current stage is characterised by widely spread restructuring processes of electric power industry in many countries through introduction of new technical installations of energy facilities and increased government regulation in order to enhance the competitive advantage of electricity market. Electric power industry features a considerable value of creating areas. For example, by providing scientific and technical progress, it crucially affects not only the development but also the territorial organisation of productive forces, first of all the industry. In modern life, more than 90% of electricity and heat is obtained by Kazakhstan's economy by consuming non-renewable energy resources: different types of coal, oil shale, oil, natural gas and peat. Therefore, it is significant to ensure energy security, as the country faces a rapid fall back to mono-gas structure of fuel and energy balance. However, energy resources in Kazakhstan are spread very unevenly. Its main supplies are concentrated in northern and central parts of the republic, and the majority of consumers of electrical power live in the southern and western areas of the country. However, energy plays an important role in the economy of industrial production and to a large extent determines the level of competitive advantage, which is a promising condition for implementation of energy-saving and environmentally friendly technologies. In these circumstances, issues of modernisation and reforms of this sector in Kazakhstan gain more and more importance, which can be seen in the example of economically sustainable solutions of a large local monopoly company, significant savings in capital investment and efficiency of implementation of an investment project. A major disadvantage of development of electricity distribution companies is the prevalence of very high moral and physical amortisation of equipment, reaching almost 70-80%, which significantly increases the operating costs. For example, while an investment of 12 billion tenge was planned in 2009 in this branch, in 2012 it is planned to invest more than 17 billion. Obviously, despite the absolute increase, the rate of investment is still quite low, as the total demand in this area is at least more than 250 billion tenge. In addition, industrial infrastructure, including the objects of Kazakhstan electric power industry, have a tangible adverse impact on the environment. Thus, since there is a large number of various power projects that are sources of electromagnetic radiation, the environment is deteriorated. Hence, there is a need to optimise the efficiency of the organisation and management of production activities of energy companies, to create and implement new technologies, to ensure safe production and provide solutions to various environmental aspects. These are key strategic factors to ensure success of the modern energy sector of Kazakhstan. The contribution of authors in developing the scope of this subject is explained by the fact that there was not enough research in the energy sector, especially in the view of ecological modernisation. This work differs from similar works in Kazakhstan in the way that the proposed method of investment project calculation takes into account the time factor, which compares the current and future value of profit from the implementation of innovative equipment that helps to bring it to actual practise. The feasibility of writing this article lies in the need of forming a public policy in the industrial sector, including optimising the structure of energy disbursing rate, which complies with the terms of future modernised development of the domestic energy sector.

• Journal of the Korean Academic Society of Industrial Cluster
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• v.2 no.1
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• pp.44-60
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• 2008

This paper analyses the relative efficiency and competitiveness of production structure for the industrial clusters(Ulsan, Changwon, Kumi, Wonjoo, Banwol & Siwha, Kwangwju, Gunsan) which had allocated in 2004 in Korea by the DEA approaches. The results show that except U1san, Wonjoo, the 5 industrial clusters have improved the relative efficiency in terms of input and output since they were allocated. And, the reason of the inefficiency for the 5 industrial clusters were not for the technical relationship but for the production scaling size. That is, by clustering for the industrial production firms, the economic effect came true throughout the production scaling size effects. Also, by the positioning approach for the production factors such as labor, capital, and R&D investment via production growth, the results show that Banwol & Siwha, Goomi clusters have effectively been managed, but Wonjoo, U1san and Gunsan are not.