• 대한전기학회논문지:전력기술부문A
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• 제52권6호
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• pp.340-346
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• 2003

This paper presents a game theory application for an analysis of uniform price auction in a simplified competitive electricity market and analyzes the properties of Nash equilibrium for various conditions. We have assumed that each generation firm submits his bid to a market in the form of a sealed bid and the market is operated as a uniform price auction. Two firms are supposed to be the players of the market, and we consider the maximum generation quantity constraint of one firm only. The system demand is assumed to have a linear relationship with market clearing prices and the bidding curve of each firm, representing the price at which he has a willingness to sell his generation quantity, is also assumed to have a linear function. In this paper, we analyze the effects of maximum generation quantity constraints on the Nash equilibrium of the uniform price auction. A simple numerical example with two generation firms is demonstrated to show the basic idea of the proposed methodology.

• 기술경영경제학회:학술대회논문집
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• 기술경영경제학회 1999년도 제15회 하계 학술발표회 논문집
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• pp.119-139
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• 1999

The rapid development and diversification of technology require that firms should adjust and cope with a high degree of uncertainty. An alternative to these strategic responses is the recent increase in the number of R&D or technological collaborations among firms. There have been continuous researches into the causes and effects of these collaborative relationships, but there is a lack of research that examines the risks involved in the process of collaboration. The researches into essential prerequisites for a successful technological collaboration have remained at the superficial level despite the surge in demand of R&D collaboration. Therefore, this study proposes positive & negative factors affecting the R&D collaboration process and selection point. In addition, a further step in analysis is taken by integrating both the positive & negative factors. This study emphasizes the importance of inter-trust in activating the process factors within the success factors and reducing the possibility of risk factors.

• 한국경영과학회지
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• 제40권2호
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• pp.43-61
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• 2015

The valuation of patents is very important, since technology competitiveness is crucial for firms to maintain global competitiveness. But, the patent valuation is difficult and challenging because of the uncertainty affecting their returns. Hence, we propose a patent valuation method by incorporating game theory into the real option model, which can not only potentially recognizes the effect of uncertainty on patent value, but also consider investment decision in a competitive market, as a game between firms. With the model, we can consider dynamic strategy involving an option of patent leveraging strategies enabling the firm to switch among compete, cooperate, or wait modes under different demand or competitive advantage condition.

• 대한전기학회논문지:전력기술부문A
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• 제55권5호
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• pp.214-219
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• 2006

Oligopoly differs from perfect competition and monopoly in that a firm must consider rival firms' behavior to determine its own best policy. This interrelationship among firms is the issue examined in this paper. In the oligopoly market, the complete information market means that each producer has full information about itself, the market, and its rivals. That is, each producer knows the market demand function, its own cost function and the cost functions of rivals. On the other hand, the incomplete information market means that in general each producer lacks full information about the market or its rivals. Here, we assume that each firm doesn't know the cost functions and the strategic biddings of its rivals. The main purpose of this paper is to analyze firm' strategic behaviors and equilibrium in an electricity market with incomplete information. In the case study, the complete information market and the incomplete market are compared at the Nash Equilibrium from the viewpoints of market price, transaction quantities, consumer benefits, and Social Welfare.

• 대한안전경영과학회지
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• 제19권4호
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• pp.53-62
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• 2017

It has come to attention that a risk-assessing organization, that will benchmark a company's safety department, is imperative, following an increase in large-scale SOC-business project, construction of higher-raised buildings, development of underground space; all that have increase accident rates. Having faced problems that arise in firms that demand diversity, complexity and instantaneity, the purpose of the thesis is to arrive at efficient and practical problem-solving means. In order to solve the problems that would surface theoretically during an actual risk assessment, the state of the operation systems of the top five national construction firms having a hazard rate of 0.25 times less than the average rate have been analyzed, while a hierarchal recognition research of the employees who not only function at the operating level but are the practice subjects of a firm, has also been conducted, bringing the main text.

• 무역상무연구
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• 제26권
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• pp.203-223
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• 2005

Many international transactions involve the use of security devices, commonly referred to as "guarantees", "bonds", or "standby credits", designed to protect one of the parties from a breach by its counter-party. These security mechanisms may be provided by banks, insurance companies, specialized surety companies, or other financial service firms. Although some legal systems distinguish between "guarantees", "bonds", and "indemnities", these terms are often used as synonyms in the everyday language of international traders. It may therefore be necessary to examine the particular characteristics and nature of the guarantee obligation in order to properly classify the guarantee. Two main categories of guarantee are demand and suretyship. Under a demand guarantee, the guarantor must pay on first demand by the beneficiary. The beneficiary only has to demand payment under the guarantee - there is no need to prove that the principal has actually defaulted on a contractual obligation. Under a suretyship or conditional guarantee, the obligation of the guarantor is triggered by the actual default or contractual breach of the principal, as evidenced in a document such as a court judgement or arbitral award against the principal. Guarantees have been widely used in the international business transactions. Main uses of guarantees are as follows : Performance Bonds/Guarantees, Bid(or Tender) Bonds/Guarantees, Advance Payment or Repayment Bonds/Guarantees, Retention Bonds/Guarantees, Maintenance(or Warranty) Bonds/Guarantees etc.

• 한국건설관리학회논문집
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• 제6권3호
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• pp.144-155
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• 2005

1950년대 이후 주택수요의 급격한 증가와 낮은 주택투자로 인한 만성적 주택부족 사태는 정부 주도의 주택공급정책에 의존해 오고 있다. 주택시장이 수요와 공급에 의한 자율적 가격결정구조를 가지지 못하고 정부 정책에 따라 인위적으로 움직임으로써 주택가격은 폭등과 폭락을 반복하고, 아파트 미분양 등에 의한 건설사의 수익성 악화나 중소건설업체의 부도와 같은 문제점들이 발생하고 있다. 이는 건설기업이 주택시장의 구조적 문제점을 파악하고 정부의 정책에 시기 적절히 대처하지 못함으로써 주택시장적응력을 상실한 결과라 할 수 있다. 또한 정부도 주택시장의 가격에 의존한 단기적 정책 효과만을 의존함으로써 주택시장의 가격결정시스템을 약화시키는 결과를 초래한 것이다. 즉, 주택시장의 동태적 환경시스템이라는 숱을 보지 못하고 정부 정책에 의한 단기적 영향요인이라는 나무만을 봄으로써 나타난 결과라 할 수 있다. 따라서 본 연구는 주택 시장을 주택수요 영향변수와 주택공급 영향변수 그리고 그에 영향을 미치는 거시 환경적 영향변수들을 분류하고, 이들 간의 상호작용을 시스템 사고와 전통적 소비자 선택이론에 입각하여 연결함으로써 이에 의해 구성되는 인과순환구조를 구축하도록 한다. 이를 통해 주택시장이 가지는 동태성의 장기적인 형태를 피드백 루프의 존재를 통해 확인해 줌으로써 주택시장의 역동적 변화 원인을 규명하고자 한다.

• 한국IT서비스학회지
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• 제11권3호
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• pp.67-87
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• 2012

These days, firms are focusing on the improvement of relationships with business partners. The supply chain integrations are taking critical role in improving the relationships with business partners. In accordance with the development of the IT technology, it became possible for firms not only to integrate inner parts of the organization, but also to integrate the company with other organizations in the supply chain, which is open system. Therefore, in e-Biz environments, it is imperative for firms to strengthen the core capacity through the supply chain integration, and to precisely determine the components of the determinants of e-Business integration which impact the firm performance. This study analyzed determinants that have impacts on business integration in IT capacity perspectives in competetive environments. We analyzed 163 domestic companies to find out many significant suggestive points. First, IT management capacity, process innovation capacity are adopted as determinants of differentiation and competetive edges against competing firms. Second, it is analyzed that the more the companies are in intensified competetive environment, the more likley that the innovation capacity and partner management capacity become the determinants of the business integration of the companies and that they pursue new market development strategy. Third, it is analyzed that the more the companies are in high demand fluctuation, the more likley that the innovation capacity becomes the determinants of the business integration of the companies, and that they pursue new market development strategy and operation efficiency strategy. Last, it is analyzed that the more the companies are Technology dependent, the more likely that IT management capacity and process innovation capacity become the determinants of business integration, and that they pursue new market development strategy and operation efficiency strategy. These results provide us the foundation that the determinants that we have analyzed can impact the supply chain integration strategies which take into account the competetive environments.

• 국제지역연구
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• 제14권3호
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• pp.35-60
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• 2010

이 논문은 동태게임이론에 바탕을 둔 구조모형을 개발하여 미국 Dallas-Forth Worth 지역의 우유시장의 시장지배력을 측정하였다. 특히, 정태모형에서 도출된 담합추정 파라미터와 동태모형에서 도출된 파라미터를 비교하였으며 정태모형을 이용한 시장지배력 측정의 편기를 분석하였고 기업들의 담합행동의 순환적인 행동도 분석하였다. 분석 결과에 따르면 기업들의 행위가 동태적인 과점이론을 따를 경우 정태모형은 시장지배력을 과소평가하는 경향을 나타내고 있으며 Dallas-Forth Worth 우유시장에서 기업들의 담합 행위는 수요충격과 미래에 예상되는 비용충격에 반순환적인(countercyclical) 모습을 보여주고 있다. Dallas-Forth Worth 시장의 결과는 이론적인 동태과점모형의 예측과 일치하고 있다. 이는 기업들이 가격책정이 다른 기업들의 현재 시장에서의 반응뿐만 아니라 미래의 시장경쟁상황도 고려하여 이루어지고 있음을 나타낸다. 따라서 시장지배력의 검정은 이런 동태적 경쟁을 고려하도록 가격책정관계식을 설정하는 것이 필요하다고 할 수 있다. 그리고 정태 계량모형을 데이터에 무원칙하게 적용하는 것은 시장의 경쟁상황에 대한 잘못된 해석을 유발할 수 있다.

• 무역학회지
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• 제46권2호
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• pp.19-38
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• 2021

This study aims to analyze the foreign asset leverage effect on Korean oil & gas companies' foreign profits and to maintain the appropriate foreign asset volume for reducing exchange risk. For a long time, large Korean companies, including oil companies, overheld foreign currency liabilities. For this reason, most large companies have been burdened to hedge exchange risk and this excess limit holding deteriorated total profit and reduced foreign currency asset management efficiency. Our paper proceeds in presenting a three-stage analysis considering diversified exchange risk factors through estimation on transformation of foreign transactions a/c including annual trends of foreign asset and industry specifics. We also supplement incomplete the estimation method through a practical hedging case investigation. Our research parts are differentiated on the analyzing four periods considering period-specifics The FER value of the oil firms ranged from -0.3 to +2.3 over the entire period. The results of the FER Value are volatile and irregular; those results do not represent the industry standard comparative index. The Korean oil firms are over the credit limit without accurate prediction and finance high interest rate funds from foreign-owned banks on the basis on a biased relationship. Since the IMF crisis, liabilities of global firms have decreased. Above all, oil firms need to finance a minimum limit without opportunity losses on the demand forecast and prepare for uncertainty in the market. To reduce exchange risk from the over-the-limit position, we must consider factors that affect the corporate exchange risk on the entire business process, including the contract phase.