• 국제학술발표논문집
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• The 5th International Conference on Construction Engineering and Project Management
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• pp.602-607
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• 2013

Financial risks associated with capital investments are often measured with different feasibility indicators such as the net present value (NPV), the internal rate of return (IRR), the payback period (PBP), and the benefit-cost ratio (BCR). This paper aims at demonstrating practical applications of probabilistic feasibility analysis techniques for an integrated feasibility evaluation of the IRR and PBP. The IRR and PBP are concurrently analyzed in order to measure the profitability and liquidity, respectively, of a cash flow. The cash flow data of a real wind turbine project is used in the study. The presented approach consists of two phases. First, two newly reported analysis techniques are used to carry out a series of what-if analyses for the IRR and PBP. Second, the relationship between the IRR and PBP is identified using Monte Carlo simulation. The results demonstrate that the integrated feasibility evaluation of stochastic cash flows becomes a more viable option with the aide of newly developed probabilistic analysis techniques. It is also shown that the relationship between the IRR and PBP for the wind turbine project can be used as a predictive model for the actual IRR at the end of the service life based on the actual PBP of the project early in the service life.

• 경영과학
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• 제31권3호
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• pp.95-111
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• 2014

It is essential to carry out an economic analysis on public water supply projects so that policy makers and water enterprises are aware of the actual value of the project. However, many popular approaches based on discounted cash flow analysis do not capture the uncertainties inherent in cash flow. In order to analyze the economic values of the water supply project of local governments, we utilize real option model, which considers uncertainty in future water price behavior and captures the value of real life flexibility. The real option model is designed to incorporate the option to expand and abandon, and it is applied to a local government case. Furthermore, we assess the project by exploring Luehrman's option space to accommodate the more efficient decision making. The results show that substantial amount of potential value is included in the public water supply service, and the overall value is greater than the value obtained from the discounted cash flow model.

• 유통과학연구
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• 제11권12호
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• pp.25-37
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• 2013

Purpose - The structure of retailing has changed as retailers develop markets in response to business environment changes. This study aims to analyze the general situation of retailers in order to predict future global strategy using case studies of overseas expansion strategy and the Metro Group's global strategy. Research design, data, and methodology - The backgrounds to the new retail business model and retailer classification are analyzed as theoretical data. In addition, the key success point of the Metro Group's "cash and carry" strategy is analyzed as is the Metro Group's global CFAR (collaborative planning, forecasting, and replenishment) strategy. Finally, the plan for cooperation and precise forecasting under the Metro Group's supply chain management are analyzed from the promotion environment viewpoint. Related materials analyzed included the 2012 annual report, the Metro Group's web page, and a video interview with the executive in charge of global strategy and the new market development department. Some data were revised to avoid disrupting essential aspects of the case studies. Results - The important finding was that the Metro Group could be a world-class retail company with its successful global expansion strategy. The Metro Group's global strategy's primary goal is to have a leading business position in Eastern and Western Europe. The "cash and carry" strategy is highest priority in its overseas expansion strategy. Moreover, the Metro Group has standardized product planning capacity, which could be applied in various countries with different structural and cultural backgrounds. This is the main reason that the Metro Group could rapidly become successful in the Eastern Europe and Asian markets through its structural overseas expansion strategies. In addition, the Metro Group emphasizes the importance of supply chain management. Conclusions - First, retailers should create additional value through utilizing the domestic market, market power, and economies of scale to launch a global strategy to maximize benefits from diversification. Second, the political, economic, and cultural background of the target country needs to be understood to successfully implement the overseas expansion strategy. Third, the main factor of successful cooperation with a local partner is how quickly the company gains total understanding of the business resources and core competence of its partner. All organizations should focus on the achievement of goals in order to successfully operate the partnership. Fourth, retailers should improve their business, financial and organizational structure. Moreover, the work processes and company culture should also be improved to respond strongly in the competitive global market. Fifth, the essential point of a successful retail business is the control capacity of its branding and format. The retailer could avoid forecasting errors through supply chain management by perfectly distributing the actual amount of its inventory. In addition, the risks along the supply chain are effectively shared between the supply chain partners. Finally, the central tendency of the market is to gain in strength with this taking place across all parts of the business.

• 경영과정보연구
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• 제32권4호
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• pp.189-207
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• 2013

고빈도 자료를 이용하여 한국과 중국에서 주가지수선물시장이 개설된 이후 현물 시장과의 동적관련성에 어떠한 특징적 차이점이 있는지에 대해 분석하였다. KOSPI 200의 경우 시차변수를 이용한 다중회귀분석에서 주가지수선물가격이 현물가격을 약 15분 정도 선행하는 것으로 나타나 주가지수선물시장이 현물시장에 대해 가격발견기능을 수행하는 것으로 나타났다. EGARCH 모형을 이용한 수익률 변동성의 선-후행관계 분석의 경우 강하지는 않지만 주가지수선물가격의 변동성이 현물가격의 변동성에 선행하는 것으로 나타났다. 한국의 경우 주가지수선물시장이 개설된 초기단계에서부터 다른 선진국의 경우와 비슷하게 선물시장과 현물시장 간에는 가격 및 가격변동성의 동적관련성이 존재하는 것으로 나타났다. CSI 300의 경우 한국과는 다른 특징적 차이를 보여주고 있다. 우선 현물시장의 가격이 주가지수선물시장의 가격에 선행하는 것으로 나타났다. 그 이유는 국내의 개인투자자와 외국인 투자자들이 주가지수선물거래에 참여하는 것이 엄격히 제한됨으로써 선물시장으로 유입되는 정보가 상대적으로 늦게 가격에 반영되어 선물시장의 가격발견기능을 약화시킨 결과로 판단된다. 변동성의 경우 현물시장과 주가지수선물시장 간에는 양방향의 상호의존성이 나타나고 있어 어느 한 시장의 일방적인 선행효과는 발생하지 않는 것으로 나타났다. 정리하면, 중국의 주가지수선물시장은 투자자들의 시장참여에 대한 여러 가지 제약으로 인해 충분한 정보전달 기능을 수행하지 못하는 것으로 나타났다.

• 정보보호학회논문지
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• 제16권4호
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• pp.33-41
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• 2006

RSA 암호 시스템은 IC카드, 모바일 시스템 및 WPKI, 전자화폐, SET, SSL 시스템 등에 많이 사용된다. RSA는 모듈러 지수승 연산을 통하여 수행되며, Montgomery 곱셈기를 사용하는 것이 효율적이라고 알려져 있다. Montgomery 곱셈기에서 임계 경로 지연 시간(Critical Path Delay)은 세 피연산자의 덧셈에 의존하고 캐리 전파를 효율적으로 처리하는 문제는 Montgomery 곱셈기의 효율성에 큰 영향을 미친다. 최근 캐리 전파를 제거하는 방법으로 캐리 저장 덧셈기(Carry Save Adder, CSA)를 사용하는 연구가 계속 되고 있다. McIvor외 세 명은 지수승 연산에 최적인 CSA 3단계로 구성된 Montgomery 곱셈기와 CSA 2단계로 구성된 Montgomery 곱셈기를 제안했다. 시간 복잡도 측면에서 후자는 전자에 비해 효율적이다. 본 논문에서는 후자보다 빠른 연산을 수행하기 위해 캐리 전파 제거 특성을 가진 이진 부호 자리(Signed-Digit SD) 수 체계를 사용한다. 두 이진 SD 수의 덧셈을 수행하는 잉여 이진 덧셈기(Redundant Binary Adder, RBA)를 새로 제안하고 Montgomery 곱셈기에 적용한다. 기존의 RBA에서 사용하는 이진 SD 덧셈 규칙 대신 새로운 덧셈 규칙을 제안하고 삼성 STD130 $0.18{\mu}m$ 1.8V 표준 셀 라이브러리에서 지원하는 게이트들을 사용하여 설계하고 시뮬레이션 하였다. 그 결과 McIvor의 2 방법과 기존의 RBA보다 최소 12.46%의 속도 향상을 보였다.

• Current Research on Agriculture and Life Sciences
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• 제1권
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• pp.215-238
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• 1983

The study was conducted to indentify systematically current marketing structure and markeiing efficiency of major cash crops such as red peppers and garlics. That various data and information have been used to analyze the problems related, some of them have come from secondary sources, but major parts of real circum stances were primarily obtained from the scheduled field survey. Some of valuable facts and consequences stemmed from the research can be summarized as fellows: First of all, the commercial rates of peppers and garlics produced by sample farms were 87.5 percent and 69 percent, respectively. On the other hand, annual handling volumes per marketing firm of those two crops were on the average estimated into 51,000 kyun(about 600gr) for peppers and 20,000 hundred bulbs of garlic. As seen physical losses over the entire marketing channels of each crop, it was approximately calculated in 14.7 percent of peppers and 21.1 percent of garlic, respectively. Secondarily, it was found that marketing chanells of these crops are very diversified and complex. However, the five-staged chanell is typical: i.e., from producers to local consigners, to local carry-out merchants, to consigner-wholesales, and finally to retailers. Thirdly, it was also estimated that gross marketing margin, marketing cost and profit based on average grade of peppers were 56.1 percent, 22.6 and 33.5 percent, respectively, having 43.8 percent of farmer's share, and those of garlic 38.9, 17.1, 21.8 and 61.1 percent, separately. To the end, it seems that current collective bargaining power of farmers' cooperatives is virtually weak compared to free individual marketing firms in terms of bssiness volumes and quantity handled over the year.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.385-388
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• 2020

At present, the payment system in Thailand changes from a paper-based system to a cashless payment system. A coin has its two sides, so the cashless payment has its advantages and disadvantages. This article describes the general advantages and disadvantages of a cashless society in Thailand in the COVID-19 situation. The cashless payment in Thailand consists of credit cards, automated teller machines, direct debit, mobile/Internet banking, e-Wallet, PromptPay, and QR code. The cashless payment is able to assist the government for tax collection accuracy and facilitates users to make financial transactions more transparent and efficient. In addition, the cashless system provides benefits to businesses in which they are able to increase sales and expand business by providing convenient, safe and faster services to customers in making payment for goods/services. It assists businesses to save time and cost of cash management and reduce the paperwork. The cashless payment made the life of students, housewives, and elderly people very easy to carry out financial transactions and there is no need to meet the financial institution staff. This payment system needs advanced technology system skills, a smartphone, and a technology facility. Finally, the cashless payment can reduce the spreading of COVID-19.

• Journal of Information Processing Systems
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• 제17권5호
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• pp.918-932
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• 2021

Evaluation of the collaboration of the upstream and downstream enterprises in the manufacturing supply chain is important to improve their synergistic effect. From the supply chain perspective, this study establishes the evaluation model of the manufacturing enterprise collaboration on the basis of fuzzy entropy according to synergistic theory. Downstream enterprises carry out coordinated capital, business, and information flows as subsystems and research enterprises as composite systems. From the three subsystems, the collaboration evaluation index is selected as the order parameter. The compound fuzzy matter-element matrix is established by using its improved algorithm. Subordinate membership and standard deviation fuzzy matter-element matrixes are constructed. Index weight is determined using the entropy weight method. The closeness of each matter element is then calculated. Through a representative of the home appliance industry, namely, Gree Electric Appliances Inc. of Zhuhai, empirical analysis of data in 2011-2017 from the company and its upstream and downstream enterprise collaboration shows a good trend, but the coordinated development has not reached stability. Gree Electric Appliances Inc. of Zhuhai need to strengthen the synergy with upstream and downstream enterprises in terms of cash, business, and information flows to enhance competitiveness. Experimental results show that this method can provide precise suggestions for enterprises, improve the degree of collaboration, and accelerate the development and upgrading of the manufacturing industry.

• 정보처리학회논문지D
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• 제15D권1호
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• pp.121-130
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• 2008

상거래 활동에서 전자상거래가 차지하는 비중과 다양성이 높아 질수록 기존의 단순한 지불결제 수단에서 가치를 저장, 부여, 이전할 수 있는 새로운 형태의 지불결제 및 금융형태가 절실히 요구되고 있다. 사이버뱅크 시스템은 이러한 요구에 가장 가까운 대안으로 주목 받고 있다. 그러나 현존의 사이버뱅크 시스템은 기존은행이 사용하는 업무 프로세스를 그대로 적용하여 운영함으로, 사이버뱅크를 위한 초기 설비투자 비용이 크고, 운영, 관리 등에서 어려움이 있다. 그리고 판매자와 구매자 간의 논스톱 직접 지불결제 방식이 아닌 기존의 신용카드 방식을 사용 함으로서 가치의 저장, 부여, 이전의 기능을 충분히 사용하지 못하여 별도의 대금정산 절차가 추가적으로 필요하다. 그래서 인터넷 상에서 현금지불 기능을 할 수가 없는 등의 문제가 있다. 본 논문은 상기의 문제에 대응하기 위해 (1) 사이버뱅크용 인프라 소프트웨어 개발에 필요한 통합업무 프로세스(OPOI)를 새로이 제안하고, (2) 인터넷상에서의 전자상거래에 적용될 지불결제시스템의 새로운 업무프로세스를 제안한다. 또한 이들을 기반으로한 (3) 새로운 사이버뱅크용 지불결제시스템을 설계, 구현한다. 이를 통해 기존의 사이버뱅크 시스템이 갖는 문제점을 해결하고 차세대의 발전된 지불결제수단으로서의 사이버뱅크의 가능성을 제시한다. 본 제안시스템은 실제 구현하여 그 유효성을 확인하고 있다.

• 한국콘텐츠학회:학술대회논문집
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• 한국콘텐츠학회 2006년도 추계 종합학술대회 논문집
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• pp.729-733
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• 2006

문자메시지는 이동통신망에서 무선 데이터 서비스를 위해 가장 널리 사용되는 서비스이다. CDMA 이동통신망에서는 문자메시지 서비스는 한번에 50자의 한글을 전송 할 수 있다. 문자메시지 서비스가 일반화되고 MIDI, MP3 등의 멀티미디어 기능을 갖는 칼라 휴대폰이 보급됨에 따라 이동통신사업자는 멀티미디어 메시지를 문자메시지와 같이 P2P로 전송할 수 있는 NMS(Multimedia Massage Service)를 표준화하고 서비스하고 있다. MMS는 문자메시지와 같이 이동통신사업자의 비음성 서비스의 주요 매출 원으로 역할을 할 것으로 기대되고 있다. MMS가 활성화되면 MMS에 첨부되는 멀티미디어 콘텐츠의 저작권을 보호하기 위한 방안이 마련되어야 할 것이다. 본 논문에서는 MMS 시스템의 변경을 최소화하면서 콘텐츠 저작권 보호를 위한 DRM이 적용된 MMS DRM 시스템을 제안한다. 제안된 MMS DRM 시스템은 DRM Packager, DRM Server, DRM Agent를 통하여 MMS에 첨부된 멀티미디어 콘텐츠를 보호하고 다양한 사업모델을 지원할 수 있도록 하여 MMS 활성화에 기여할 것이다.