• Journal of Environmental Policy
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• v.7 no.2
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• pp.49-66
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• 2008

The goal of current study is to carry out comparative analysis on the relationship between nature perspectives and their corresponding utilities by taking integrated approach combining economic values with environmental ones. The results are as follows. First, empirical evidence shows that the structures of happiness function differ according to nature perspectives. The anthropocentric-nature perspective is centered on economic value. Whilst, environment and social trust play an statistically insignificant role in deciding happiness levels. Secondly, the eco-centric perspective possesses a multi-facted structure of happiness function composing of income, environment, and social trust. In this vein, it is no reasonable behavior, from happiness maximization view, to focus on economic value vis-a-vis use value.

• International Journal of Highway Engineering
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• v.16 no.1
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• pp.75-89
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• 2014

PURPOSES : This study evaluates the economic value of national highway construction projects using Real Option Pricing Models. METHODS : We identified the option premium for uncertainties associated with flexibilities according to the future's change in national highway construction projects. In order to evaluate value of future's underlying asset, we calculated the volatility of the unit price per year for benefit estimation such as VOTS, VOCS, VICS, VOPCS and VONCS that the "Transportation Facility Investment Evaluation Guidelines" presented. RESULTS : We evaluated the option premium of underlying asset through a case study of the actual national highway construction projects using ROPM. And in order to predict the changes in the option value of the future's underlying asset, we evaluated the changes of option premium for future's uncertainties by the defer of the start of construction work, the contract of project scale, and the abandon of project during pre-land compensation stages that were occurred frequently in the highway construction projects. Finally we analyzed the sensitivity of the underlying asset using volatility, risk free rate and expiration date of option. CONCLUSIONS : We concluded that a highway construction project has economic value even though static NPV had a negative(-) value because of the sum of the existing static NPV and the option premium for the future's uncertainties associated with flexibilities.

• Journal of the Korea Convergence Society
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• v.9 no.12
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• pp.159-167
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• 2018

As the popularity of single-person media content increases, We investigated the causal relationship between perceived value and intention to recommend to others. Individuality was studied on the tendency to sensation seeking and novelty seeking, which is a tendency to take boredom sensitive to monotonous and repetitive daily routines, and novelty seeking refers to new information and stimuli. The hypothesis was that high sensation seeking and high novelty seeking would perceived emotional value, epistemic value, and economic value for a single person 's media content. Hypothesis testing was performed using multiple regression analysis using SPSS21. As a result of the hypothesis test, The novelty seeking has a positive effect on emotional value, epistemic value, and economic value. Users who want to explore and enjoy new things could perceived the emotional value of having fun, fun, and sadness through single-person content, perceived a epistemic value and enjoy new information and situations as a tool to recognize new stimuli and know what they didn't know. And it could be seen that users perceive the economic value that they can enjoy at low cost or free service. The sensation seeking has a significant effect on epistemic value, but it did not affect emotional value and economic value significantly. Those who have a high tendency to sensation seeking can perceive curiosity about one-person media contents, so that they can perceive epistemic value. However, those who feel that they have not significant influence on economic value and emotional value can easily understand that expecting one's content does not feel bored by paying for a low cost or free service.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.5
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• pp.3-10
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• 2018

The purpose of this study is to estimate the attractiveness value according to the preference level on architectural aesthetic. This research starts from the concept that aesthetic is phenomenon and from the viewpoint of 'attraction value' which affects goods. Interactive internet surveys were conducted for 500 citizens of Seoul metropolitan city who are potential users of the Nodle Islet Cultural Center. Based on the scenarios and questionnaires with fuzzy models, we have examined the evaluation of architectural aesthetic and monetary willing-to-payment, and estimated the economic value by preference level of architectural aesthetic through linear regression analysis. The main results of the study are as follows: First, the economic value of the Nodle Islet Cultural Center was estimated at ?15,683.43/person. Residents of Seoul metropolitan city were willing to accept the increase in the above-mentioned amount of the facility fares when their preferred works (average 86.81 points) were constructed. (P <0/05) Second, it is confirmed that the economic value increases dramatically as the preference level of architectural aesthetic increases. Third, it is presumed that the infinite valuation of architectural aesthetic and the problem of free riding coexist in the estimation of economic valuation of architectural aesthetic for public buildings. Fourth, by mixing the fuzzy logic with contingent valuation method, starting point bias and no response biases that happened in contingent valuation could be disappeared. bias elimination must be considered seriously because another bias could be happened in full process of the research. The results of this study will serve as a basis for spreading architectural aesthetic value-oriented research from the vague and obscure aesthetic-centered discussion on the existing architectural aesthetic. In addition, it will be an opportunity to draw institutional application and utilization strategy of architectural aesthetic through architectural aesthetic value research.

• Journal of Korean Society for Quality Management
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• v.50 no.2
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• pp.235-250
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• 2022

Purpose: The main purpose of this study was to explore the factors that can increase parental loyalty from the perspective of management marketing in order to acquire information on strategies related to early childhood education institutions. Methods: For this purpose, frequency analysis, reliability and validity analysis, correlation analysis, hypothesis testing, and mediating effect analysis were performed using SPSS 22.0. Results: As a result of this study, first, among the sub-factors of relationship benefits, economic benefits, psychological benefits, and customerization benefits were found to have a significant influence on customer value. Second, among the sub-factors of relationship benefits, economic benefits, psychological benefits, and customerization benefits were found to have a significant effect on customer satisfaction. Third, customer value was found to have a significant effect on customer satisfaction. Fourth, customer value was found to have a significant effect on loyalty. Fifth, customer satisfaction was found to have a significant effect on loyalty. Conclusion: The results of this study suggest the necessity and importance of forming a relationship that considers the psychological aspect, economic aspect, and customerization aspect in the relationship with parents who use early childhood education institutions. This study sets the relational benefit as an independent variable among the variables of management marketing as a factor that affects loyalty, identifies the relationship between the variables through customer value and customer satisfaction, and intends to use it as basic data for qualitative improvement of educational institutions for infants and toddlers.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.1
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• pp.10-26
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• 2017

This paper explains the concept of Economic Value Added (EVA) that is gaining popularity in India. We also examine whether EVA is a superior performance measure, both for corporate disclosure and for internal governance. Of late, companies in India have started focusing on shareholders wealth creation by adopting value-based models for measuring shareholder value that helps to align managerial decision-making with the firm preferences. In recent years, the EVA framework is gradually replacing the 'traditional' measures of financial performance on account of its robustness and its immunity from 'creative' accounting. Even though some leading Indian companies have already joined the band wagon of their American counterparts in adapting the EVA-based corporate performance systems, many other are hesitating as there is no strong evidence that the EVA system works in India. Till now, EVA disclosures are "not mandatory for the Indian companies." Also, we examine the value-creation strategies of selected Indian companies by analyzing whether EVA better represents the market-value of these companies in comparison to conventional performance measures. The study indicates that "there is no strong evidence to support Stern Stewart's claim that EVA is superior to the traditional performance measures in its association with MVA." As part of this study, we have also extensively surveyed the EVA disclosures in the Annual Reports made by the same sample group of 500 corporations from India.

• Journal of the East Asian Society of Dietary Life
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• v.24 no.6
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• pp.906-914
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• 2014

This study conducted an exploratory factor analysis to examine how consumers' confidence on the local foods used at tasty farm eateries influence their purchase behaviors. The four factors of perception of local foods used at tasty farm eateries and the factors of consumer confidence and purchase behaviors were extracted for a reliability analysis, correlation analysis of variables, and simple and multiple regression analysis. The following are the findings: first, among the four factors of perception of local foods used at tasty farm eateries, safety, sociality and product value had statistically significant influences on consumer confidence, whereas regional economic value did not. In other words, safety referring to the nutritional value and sanitary safety of food ingredients used for the native foods at the tasty farm eateries, product value referring to the characteristics differentiated from general Korean cuisine, and sociality referring to the various related experiences for the interests in farm culture and local food, leads to consumer confidence, whereas regional economic value referring to farm household income, local job creation, and development of farm tourism does not. Second, consumer confidence had a statistically significant positive impact on consumers' purchase behaviors. Among the five principles of local foods, reliability is the most important factor. When consumers gain confidence on local food items and are satisfied with them, they make additional purchases and revisits. Therefore, confidence is a very important aspect for the loyalty and sustainability of business.

• Culinary science and hospitality research
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• v.19 no.1
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• pp.103-120
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• 2013

This study aims to examine consumers' trust and purchase intention in environment-friendly agricultural products and factors influencing purchase intention degree of environment-friendly agricultural products. In addition, it aims to help seek national health promotion methods through purchase of consumers' environment-friendly agricultural products by providing the government, businesses, consumer organizations, etc. with basic data on them. The survey was performed for 2 months from August 1, 2012 to September 30, 2012, and a total of 350 questionnaires were distributed and 321(91.7%) copies out of them were used as final analysis data. The results of the study are as follows. First, the analysis of the effects of environment-friendly consumption value on trust in environment-friendly agricultural products showed that all the independent variables including environmental conservation value and economic value had a significant influence on trust in environment-friendly agricultural products, and economic value among them was the most influential item. Second, the analysis of the effects of environment-friendly consumption value on purchase intention for environment-friendly agricultural products showed that all the independent variables including environmental conservation value and economic value had a significant influence on purchase intention for environment-friendly agricultural products, and economic value was the most influential item. Third, the analysis of the effects of trust in environment-friendly agricultural products on purchase intention for environment-friendly agricultural products showed that as trust in environment-friendly agricultural products gets higher, consumers' purchase intention for them increased.

• Applied Chemistry for Engineering
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• v.29 no.2
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• pp.209-214
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• 2018

In this paper, the techno-economic analysis of glycerol steam reforming for $H_2$ production capacity of $300m^3\;h^{-1}$ was carried out. The process of glycerol steam reforming was constructed by using Aspen $HYSYS^{(R)}$, a commercial process simulator, and parametric studies for the effect of the operating temperature on $H_2$ production was performed. Moreover, the economic analysis was conducted through an itemized cost estimation, sensitivity analysis (SA) and cash flow diagram (CFD), and the unit $H_2$ production cost was 5.10 $ ${kgH_2}^{-1}$ through the itemized cost estimation of glycerol steam reforming for $H_2$ production capacity of $300m^3\;h^{-1}$. SA was employed to identify key economic factors and various economic indicators such as net present value (NPV), discounted payback period (DPBP), and present value ratio (PVR) were found according to $H_2$ selling price using CFD.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.1
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• pp.120-126
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• 2014

This paper deals with the economic value analysis of meteorological forecasts for a hypothetical inventory decision-making situation in the pharmaceutical industry. The value of Asian dust (AD) forecasts is assessed in terms of the expected value of profits by using a decision tree, which is transformed from the specific payoff structure. The forecast user is assumed to determine the inventory level by considering base profit, inventory cost, and lost sales cost. We estimate the information value of AD forecasts by comparing the two cases of decision-making with or without the AD forecast. The proposed method is verified for the real data of AD forecasts and events in Seoul during the period 2004~2008. The results indicate that AD forecasts can provide the forecast users with benefits, which have various ranges of values according to the relative rate of inventory and lost sales cost.