• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.170-186
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• 2006

The guarantee funds for government policy fund, venture capital investment fund, technology guarantee debt are the core parts of the external financing system in the constant technology innovation company. However, the enterpriser's requirement to keep the technology innovation with minimized management intervention and policy maker's hope to advance technology development with clear operation of funds is enough to request for research of the project investment plan to the R&D project. This paper will analyze whether technology innovation company that creates cash flow prefers to the project investment as a financing program or not, and if prefers, what characters of company affect on this preference. The more the company that pursuit the additional R&D activity separated to on-going items becomes over the fixed size, the more prefers the project investment as future external fund-raising. Together with that, this paper suggests that we can apply the plan like special purpose vehicle, SWORD(Stock Warrant Off-Balance sheet R&D) and R&D Limited Partnership as R&D project investment policy, and improve the system itself.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.2 no.2
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• pp.115-124
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• 1979

The purpose of this study is theoretical research on risk. The research is focused on systematic risk. Chapter I is objective of this study, Chapter II includes definition and measurement of risk. Chapter III introduces attitudes toward risk and classification of risk. Chapter IV discusses Portfolio theory, Capital market line and Shape and Lintner model The objective of firm is assumed to maximize its value. In a world of uncertainty, value is not determined by earnings alone, the degree of risk involved with the streams of earnings. Financial manager has to consider the risk in order to maximize the value of firm. Total risk can be classifier into two parts : Systematicrisk and unststematic risk by Sharpe. Systematic risk is important because investors can't diversify it. Blume and Jensen measured f and they testified that the f is stationary over the time For further study, Korean stock mark has to take emperical study about $\beta$ and its stationarity.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2003.11a
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• pp.5-21
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• 2003

본 연구는 1980년부터 2000년 동안 9개 산업에서 정보통신 관련 자본(IT Capital Stock)을 이용하여, 해당 산업의 기술혁신에 기여도를 분석하였다. 순차적 분석방법에 따른 결과는 기술혁신을 나타내는 대리변수인 총요소생산성과 정보통신자본량이 단위근을 갖는 것으로 나타났으며, 두 변수사이에 장기적인 공분산 관계가 성립하였다. 정보통신자본이 기술혁신에 기여도를 분석한 결과는 사용하는 계량 추정량에 따라 정보통신자본의 1단위증가는 0.19에서 0.07까지 기술혁신에 기여하는 것으로 나타났다. 따라서 우리나라의 경우 정보통신자본의 Solow(1989)의 "생산성 역설"가설은 장기적 패널자료를 사용하여 분석한 결과는 정보통신자본의 Solow(1989)의 "생산성 역설"가설을 뒷받침하지 않는 것으로 나타났다.을 뒷받침하지 않는 것으로 나타났다.

• Journal of the Korean Society of Industry Convergence
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• v.7 no.1
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• pp.121-127
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• 2004

This paper is to give some hints to solve the problems of the Korean The third Market suffering from the extreme shortage of the liquidity. To solve that problem, this paper mainly compare the liquidity indices of the Third Market with that of the Japanese third market, that is Mothers. The main liqudity indices of the Mothers shows better than that of the Korean Third Market redardless of the small numbers of the listed Firms. The main differences in the liquidity levels between two markets is to caused by the trading system. The Korean Third Market has been adapting the one-to-one trading system which most stock markets of the world gave up that system owing to the inefficiency. This paper shows the proper trading system for the Third Market is competitve trading system partialy combined with the market maker system beacause of the small firm characterristics.

• Korean Journal of Rural Living Science
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• v.9 no.1
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• pp.43-54
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• 1998

This study attempted to investigate the factors affecting financial status of the rural middle-aged and old-aged household. The results shelved that the significant variables which influenced on the probability of financial security measured by consumption to income ratio were sex and education level of the household head, family size, total income, total expenditure and total assets. The most influential variables on the probability of financial security measured by liquidity ratio was liquid assets, and total assets. Education level of the household head. liquid assets, total assets, and total debt had significant effects on the probability of financial security estimated by debt burden ratio. Among the economic variables, only liquid asset had significant negative effects on the probability of financial security assessed by the capital stock ratio.

• Management & Information Systems Review
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• v.32 no.5
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• pp.1-18
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• 2013

This study examined location determinants of FDI inflows in developing countries. I proposed and test modified gravitiy model empirically that include host country locational determinants, gravity link variable and home country control variable. The main findings are: countries with a larger market size, faster economic growth, higher per capita income, higher quality of human capital, higher level of foreign stock and more liberalized economic regime attracted relatively more FDI inflows.

• The Korean Journal of Financial Management
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• v.15 no.2
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• pp.401-419
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• 1998

This paper examines the international arbitrage pricing model (IAPM) in regional equity markets setting. Factor analyses are used to estimate the international common risk factors. And the cross-sectional regression analyses are used to test the validity of regional IAPMs and Chow tests are used to evaluate the integration of regional equity markets. The results of factor analyses show that the number of common factors in each regional group is seven. The cross-sectional regression results lead us not to reject that the IAPMs are regionally valid but Chow test results lead us to reject that regional equity markets are integrated.

• Journal of the Korean Society of Safety
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• v.18 no.3
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• pp.114-119
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• 2003

The building needs of the community are met by the interrelated construction activities of maintaining, modernizing and replacing the existing stock of building and by the erection of additional new building. Studying the service lift of buildings and how it is determined can serve as an important measuring stick in making decisions on construction policy. Therefore, the purpose of this study is to provide useful information for future construction through a comparative and analytical study of building structures on disappeared buildings. It was found that most building structure had a shorter service life than the standard set by The Korea Appraisal Board. This situation may have occurred due to the sharp rise in replacement of older buildings with new buildings for the purpose of monetary profit. To increase the economic life of buildings reduce losses of the nation's capital henceforth, examination on policy md steady study needs to be done.

• Earthquakes and Structures
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• v.4 no.6
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• pp.671-683
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• 2013

The May 19, 2011 an earthquake hit Simav (K$\ddot{u}$tahya) province in Turkey. Simav is a district of K$\ddot{u}$tahya located 255 km southwest from capital city of Turkey. According to Turkish General Directorate of Disaster Affairs (DAD), the magnitude of this moderate earthquake was 5.7. The major percent of the housing stock in the affected region was built in masonry. Many masonry dwellings, mosques and also minarets were heavily damaged due to this seismic activity. The Halil Aga Mosque and its minaret were also heavily damaged as a masonry structure around the earthquake region. In this paper, a site survey of masonry damages is presented and Response Spectrum Analysis of the Halil Aga Mosque is performed using the finite element method.

• Communications for Statistical Applications and Methods
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• v.29 no.6
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• pp.695-708
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• 2022

Recently, several studies have been conducted using state space model. In this study, a dynamic linear model with state space model form is applied to stock data. The monthly returns for 135 Korean stocks are fitted to a dynamic linear model, to obtain an estimate of the time-varying 𝛽-coefficient time-series. The model formula used for the return is a capital asset pricing model formula explained in economics. In particular, the transition equation of the state space model form is appropriately modified to satisfy the assumptions of the error term. k-shape clustering is performed to classify the 135 estimated 𝛽 time-series into several groups. As a result of the clustering, four clusters are obtained, each consisting of approximately 30 stocks. It is found that the distribution is different for each group, so that it is well grouped to have its own characteristics. In addition, a common pattern is observed for each group, which could be interpreted appropriately.