• International conference on construction engineering and project management
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• 2015.10a
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• pp.82-86
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• 2015

Construction delay is a common problem worldwide, which is considered as one of the main reasons for project failure. Bangladesh construction industry is no exception. This study investigated the main causes of delay in large building construction projects in Bangladesh. A questionnaire survey was conducted to determine the causes of delay from owners, consultants, and contractors of large building construction projects. About 70 respondents participated in the survey. Using the importance index analysis, the study identified 10 most important causes of delay from a list of 30 different causes. Ten most important causes were: (1) lack of experienced construction manager, (2) lowest bidder selection, (3) funding shortage by owner, (4) lack of proper management, (5) improper planning and scheduling, (6) lack of skilled workers, (7) site constraints, (8) contractors' cash flow problems during construction, (9) escalation of resources price, and (10) contractors' excessive workload. Furthermore, Kruskal-Wallis test indicates that there is no significant variation exists among the three group of respondents, ie owners, consultants and contractors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.133-144
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• 2017

This study investigates firm-specific financial variables that determine investment or speculative grades from the viewpoint of firms, which are one of the major stakeholders related to the credit rating. We employ an ordered probit model for our analysis with the sample data from 1999 to 2015 for listed firms in the Korean stock markets. For investment grades, operating margin, sales, market-to-book, dividend payment, capital expenditure ratio, and tangible asset ratio have a significantly positive impact on credit ratings. In the subsample for speculative grades, the coefficients of the dividend payment, retained earnings ratio, and capital expenditure ratio are significantly positive while short-term debt ratio and R&D expenditures have a significantly negative impact on credit ratings. For the analysis before and after 2009, when the Credit Information Use and Protection Act was strengthened after the global financial crisis, the coefficients of the capital expenditure ratio, cash ratio, and tangible asset ratio are significantly positive in the subsample for investment grades before 2009, but not significant after 2010. The coefficient of the long-term debt ratio is more significantly negative than that of the short-term debt ratio before 2009, for speculative grades, but short-term debt ratio has a more negative effect on ratings than long-term debt ratio after 2010. Surprisingly, the coefficient of the R&D expenditures is significantly negative in both investment and speculative grades since 2010. Our findings are inconsistent with the conjecture that the increase in R&D expenditures enhances the possibility of creating cash-flow by raising the investment growth opportunity, and thus affects positively the credit rating.

• Journal of Information Technology and Architecture
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• v.11 no.3
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• pp.359-369
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• 2014

This paper aims to analyze the change of dominion in Russian automotive market and Korea port to export cars to the Russia. First, we provide the current market structure and growth potentials of Russian automotive industry by using literature reviews and data survey. Next, we analyze the current situation to export cars through the Korean seaports using the BCG (Boston Consulting Group)'s matrix method. The analysis shows that the Russian car market has growth potential. The result of expectation of Russian major car export's port within 3~5 years since the year 2013 shows that the Pohang Port will maintain current market share because it has higher market share and growth potential. On the contrary, the Guangyang Port, Busan Port, and Ulsan Port will lose the market share because of the low growth potential. Also, the Incheon Port will become the cash cow market because it has more than 10 percent market share and higher growth potential. To increase the car export volume of ports to Russian market, this paper proposes that we should provide a differentiated service to Russian port based on the analysis of domestic or foreign car export logistics structure and flow. For further study, EA-based framework should be applied for efficient and effective policies.

• Journal of Service Research and Studies
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• v.6 no.3
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• pp.29-40
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• 2016

Since the late 20th century, there has been much effort to improve the market value of media contents which are commercialized in a digital format, by fusing digital data of video, audio, numerals, characters with IT technology together. Then by what criteria and methodologies could the market value for the drama "Sons of the Sun" or the animated film 'Frozen', often referred to in the meida, be estimated? In the circumstances there has been little or no research on the valuation framework of media contents and the status of their valuation system development to date, we propose a practical valuation models for various purposes such as contents trading, review of investment adequacy, etc., by formalizing and presenting a contents valuation framework for the four types of media of movies, online games, and broadcasting commercials, and animations. Therefore, we develope computational methods of cash flows which includes production cost by media content types, provide reference databases associated with key variables of valuation (economic life cycle, discount rates, contents contribution and royalty rates), and finally propose the valuation framework of media contents based on both income approach and relief-from-royalty method which has been applied to valuation of intangible assets so far.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.321-329
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• 2021

A measure of managerial ability was derived using DEA, a measure of management efficiency, and the correlation coefficient between discretionary accrual and non-discretionary accrual, net income and operating cash flow standard deviation was used as a proxy for income smoothing. verified. In addition, the manager's compensation was used by taking the natural logarithm of the cash compensation per manager. The analysis results are summarized as follows. The analysis period for hypothesis testing is from 2004 to 2017, as a result of the hypothesis analysis of the correlation with the level of manager's compensation, it was suggested that the income smoothing behavior decreased the performance-based compensation and increased the performance-controlled compensation. This can be said to be the result of indirectly confirming that additional compensation is differentially paid for income smoothing. This study has a contribution to the study by empirically analyzing whether income smoothing affects the relationship between managerial ability and managerial compensation. However, although a number of previous studies empirically analyzed that there are upper and lower bounds for manager compensation, there is limitations that could not be analyzed for asymmetric compensation due to income smoothing is expected to expand.

• Korea Journal of Hospital Management
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• v.6 no.1
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• pp.1-17
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• 2001

According to the increase of the proportion of aged people, the medical demand for a senile chronic disease has been increased; therefore, aged people call for a geriatric hospital for special geriatric medical service. The main purpose of this study was to analyze the general characteristics and financial status of geriatric hospitals. For the study, a questionnaire was designed and sent to the geriatric hospitals to fill out the patient statistics, number of headcount by department, etc. to find out the stability, profitability, activity and so on financial statements of the hospitals were analyzed. The major findings of this study were as belows. 1. The ratio of the medical expenses to the revenue of the geriatric hospitals is much lower than acute care hospitals. But the probability of bankruptcy is higher due to the high ratio of the liabilities therefore it is required to stabilize the financial position by donating more money. 2. Government budget for the elderly people is not enough. To support the geriatric hospitals by going subsides, government should increase the budget. 3. Portion's of the patient of the geriatric hospitals are government support patient. Since the government doesn't pay the medical charges quickly, geriatric hospitals have a serious cash flow problem. Therefore, it is required that government is to prepay the bill. 4. Since geriatric hospitals treat elderly patient and most patients are government support patients, geriatric hospitals can be said to operate under the strict. 5. When we introduce the daily medical charge, the self-liability will be reduced on approximately 50% of current. This affection will bring a huge progressing financial structure to the medical profit of the geriatric hospital, and also patient family will feel less economical burden.

• Proceedings of the Korea Contents Association Conference
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• 2006.11a
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• pp.729-733
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• 2006

Short message service (SMS) is a Popular mobile data service in cellular networks. One SMS message can carry 50 Korean alphabets. Cellular operators standard and develop multimedia message service (MMS) based on P2P as color phones having multimedia solutions such as MIDI, MP3, JPG, PNG, and MPEG have been developed. MMS can be a key cash flow in the non-voice mobile revenue together with SMS. Copyrights protection of contents in a MMS message can be issued as MMS can be the popular P2P service such as MMS. In this paper, we propose MMS DRM system to protect copyrights of contents in MMS with the minimum change of MMS system. The proposed MMS DRM system protect copyrights of contents using DRM Packager, DRM Server, and DRM Agent and support various use cases to activates MMS in mobile networks.

• Journal of the Korea Institute of Building Construction
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• v.11 no.3
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• pp.221-228
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• 2011

This study is on the development of a System Dynamics Model for business feasibility analysis of an apartment house development project. In this study, we analyzed other apartment development projects and research projects, and identified the cash flow items, which consist of revenue and expenditure items. In addition, we made efforts to find the influence relationship among these using the system thinking method and developed a system dynamics model. In order to test the model, a case study was conducted in which it was applied to an apartment development project. Vensim, a System Dynamics Modeling and simulation software package was used to analyze and test the model. The model suggested in this study can help a developer to make decisions on project financing at the initial stage of an apartment house development project.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.597-600
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• 2008

Recently, Several Mega project are been performing as a multi-dimensional development project in Korea, but some problem has been revealed about deficiency of the history, experience, and skill. A multi-dimensional development project require the technology which can manage mega project to its specific at the level of program management. predicting schedule and schedule management are the most important for mega project, been performing over several years. This research shows the method of predicting and planning schedule in the early stage as a pre-study on developing a technology of schedule management. First of all, it presents the development of database considering the specific of mega project that can accumulate the history of schedule and search the schedule according to the type of single and multi building. Also it suggests the method of prediction schedule by creating scenarios according to owner requirements and cash flow, affecting schedule management in the early stage, and the shortening possibility of schedule duration using CCPM theory.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.123-130
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• 2002

Project plan and control is a highly skilled task which is vital for business success, and Project control systems are important for successful project execution. To support construction process management effectively, an integrated cost and schedule control function is required to collect quality data in a timely manner and to provide quality historical data for future planning of new projects. In Korea construction industry, the development and implementation cases of a project control system which to efficiently support construction project planning and controlling processes, have been increased to ensure a project success and the profitability of a construction company. To contribute to improving practical effectiveness of a project control system, the paper reviewed and analyzed the current trends and functional features of current project control systems. And it also described the pending issues and their solutions faced on previous project control systems.