• Health Policy and Management
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• v.23 no.2
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• pp.124-131
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• 2013

Background: This study aimed to measure the opportunity income by identifying the economic length of stay (ELOS) which is the intersection point of daily revenue and cost on appendectomy and pneumonia cases. Methods: The research subjects were 460 patients of appendectomy and 606 patients of pneumonia, discharged from a general hospital between July 1, 2009 and June 30, 2010. ELOS calculated with both of total revenue on diagnosis-related group (DRG) and fee-for service (FFS). The cost is calculated by activity-based costing system of the hospital. Results: Average length of stay (ALOS) of appendectomy was 4.48 days and its average revenue per case were 1,710,215 (1,989,105) won by DRG (FFS). The variable cost was 491,262 won which was 28.7% (24.7%) of DRG (FFS) total revenue. And 97.2% of the total variable cost was incurred within 2 days from admission. The ELOS was 4 (5) days in DRG (FFS). Shortening three days (two days) would increase opportunity income 52.0% (82.2%) in DRG (FFS). ALOS of pneumonia case was 4.86 days and its average revenue per case were 489,448 (761,426) won by DRG (FFS). The variable cost was 27,230 won which was 5.6% (3.6%) of DRG (FFS) total revenue. Thirty-eight point nine percent of the daily variable cost was incurred in discharge date. The ELOS was 2 (4) days in DRS (FFS). Shortening three days (one day) would increase opportunity income 27.6% (37.2%) in DRG (FFS). Conclusion: The ELOS would be used by strategic index for achieving minimum profit and developing the ways to get there. But we also should not pass over that the opportunity income obtained by the reducing ALOS may cause some problem of quality.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.199-215
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• 2020

Purpose - This article tries to test if the conditional consumption capital asset pricing model (CCAPM) with bank credit for household as a conditional variable can explain the cross-sectional variation of stock returns in Korea. The performance of conditional CCAPM is compared to that of multifactor asset pricing models based on Arbitrage Pricing Theory. Design/methodology/approach - This paper extends the simple CCAPM to the conditional version of CCAPM by using bank credit for household as conditioning information. By employing KOSPI and KOSDAQ stocks as test assets from the second quarter of 2003 to the first quarter of 2018, this paper estimates risk premiums of conditional CCAPM and a variety of multifactor linear models such as Fama-French three and five-factor models. The significance of risk factors and the adjusted coefficient of determination are the basis for the comparison in models' performances. Findings - First, the paper finds that conditional CCAPM with bank credit performs as well as the multifactor linear models from Arbitrage Pricing theory on 25 test assets sorted by size and book-to-market. When using long-term consumption growth, the conditional CCAPM explains the cross-sectional variation of stock returns far better than multifactor models. Not only that, although the performances of multifactor models decrease on 75 test assets, conditional CCAPM's performance is well maintained. Research implications or Originality - This paper proposes bank credit for household as a conditional variable for CCAPM. This enables CCAPM, one of the most famous economic asset pricing models, to conform with the empirical data. In light of this, we can now explain the cross-sectional variation of stock returns from an economic perspective: Asset's riskiness is determined by its correlation with consumption growth conditional on bank credit for household.

• Industry Promotion Research
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• v.8 no.4
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• pp.123-129
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• 2023

This study was intended to discuss the economic exclusion of the elderly, which may be experienced in a super-aged society, and to propose a method to improve the interpersonal satisfaction of the elderly through the expansion of social networks in order to overcome this. As a result of this study, first, it suggests that the method of overcoming economic exclusion and improving human satisfaction requires a high interest in women in the subject, and the elderly, low-educated, It was found that it is urgent to overcome the economic exclusion of the low-income class. Second, as a result of examining the effect of social network on human relationship satisfaction, it was found that the more women, the higher the age, the more shopping, and the smoother communication with children, the higher the human relationship satisfaction. Third, as a result of examining the effect of economic exclusion on human relationship satisfaction, it was found that the more leisure activities visited relatives and relatives, and the more paid facilities used social networks, the lower the relationship satisfaction. Therefore, it can be seen that improvement measures for leisure activities and social networks are required. Fourth, as a result of examining the mediating effect of the social network, the social exclusion in the causal relationship in which the independent variable economic exclusion affects the dependent variable, human relationship satisfaction, The relational network was found to have a complete mediating effect. In conclusion, economic exclusion and social network affect human relationship satisfaction, and it was found that human relationship satisfaction improved only when economic exclusion was overcome and social network was improved.

• Journal of Venture Innovation
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• v.1 no.1
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• pp.181-195
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• 2018

The purpose of this study is to investigate the effect of service quality of a theater on the customer experience value and performance satisfaction and to test causality between variables. For this purpose, Study model was created from the previous studies and performed a survey with the customer who visited Performance Theater. In this study, employee kindness, facility excellence, convenience, and facilities were set as independent variables, and performance satisfaction was selected as a dependent variable. The cultural value and economic value of customer experience were examined as Moderating variables between two variables. Based on the results of this study, It was found that employee's kindness, facility excellence, and convenience have a significant effect on performance satisfaction in performing arts facilities. convenience, there was perfect mediated effect of customer experience between service quality of a theater and performance satisfaction centered on cultural value and economic value. The employee's kindness variable was examined as a perfect mediation of cultural value, and economic value as a sectoral mediation. The excellence variables of the facilities appeared as partial mediations in cultural values and as complete mediations in economic values. In the case of the auxiliary facilities, the significance test failed. According to the results of the research, it was confirmed that convenience service for customers is the most important variable. This result suggests that the service quality of a theater should be basically maintained in terms of the kindness of the facility and staff, and that the customer is more satisfied with the performance than the audience convenience service provided from the Theater. The venue suggests that customer service and reception, purchase of tickets, refund method, and staff training should be thoroughly done so that audiences can make the Theater.

• The Journal of the Korea Contents Association
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• v.17 no.10
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• pp.216-230
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• 2017

The purpose of this study is to analyze the economic effectiveness of advanced enterprise welfare system utilizing DEA(Data Envelopment Analysis) and contribute to the adoption and implementation of the system conducted by Korea Workers' Compensation & Welfare Service(COMWEL). We classified 48 sample data into 3 categories : A category(basic consulting & intensive consulting, adoption) is 36, B category(basic consulting & intensive consulting, non-adoption) is 5, and C category(only basic consulting, adoption) is 7. A consulting fee is used as input variable, earning per employee and average employee tenure are used as output variables. As a result from DEA, we find out the fact that the economic effectiveness of A category is better than the economic effectiveness of B and C category and it comes to the conclusion that the consulting service provided by COMWEL has a positive effect on the adoption and implementation of advanced enterprise welfare system. Therefore, COMWEL is required to perform consulting service to small & medium business more actively and is needed to look at the reason why some businesses hesitate to accept the relevant system.

• Journal of Korea Technology Innovation Society
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• v.19 no.3
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• pp.658-685
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• 2016

In technology economic theory, technology innovation through R&D is regarded as a core element of economic growth. This research analyzes how R&D input factor (R&D as a percentage of GDP, total number of researchers, the proportion of science and engineering degree) affects GDP, economic outcome variable, through mediating variable (S&T papers, patent registration). The most effective variable among R&D activity variables is following order: the number of S&T papers (0.967), the total number of researchers (0.373), the proportion of R&D expenditure (0.191), the number of patent registration (0.049), the proportion of science and engineering degree (0.007). It is that the proportion R&D expenditure and the total number of researchers shows greater indirect impact through S&T papers and patent than the direct impact on GDP. This implies the importance of high-quality human resources training and the necessity of maintaining the scale of R&D fund or the importance on GDP. Moreover, S&T papers turns out to have the greatest effect on GDP and implies new outcome and value by sharing and expanding new knowledge and technology created by R&D

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.37-52
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• 2022

Purpose - The objective of this study is to investigate what motivates global FDI inflows in the different economic development level and to clarify the FDI motivation type in the level of qualitative economic growth. Design/methodology/approach - Major macroscopic social·economic factors induced FDI inflows were analyzed using fixed-effect panel regression with 30-year panel data of 28 countries from 1985 to 2014. For analysis in the stage of economic growth, two category of developed and developing countries was used. And to analyze FDI motivation type in the level of qualitative economic growth, 4 shares of GDP; consumption·government·investment expenditure and export, was used as explanatory variable. Findings - In developed country, TFP(total factor productivity) and GDP have a great influence on FDI inflows, and consumption and labor compensation have a slight effect. This result indicates that the market seeking-driven, horizontal type investment is shown along with efficiency seeking investment. In developing country, human capital and TFP is shown to have greater impact on FDI inflows and labor compensation, exports, investment and government expenditures also have impacts. Thus it has confirmed that not only efficiency-seeking vertical investment for using low cost well educated laborer, but also government-driven economic growth and export policies could affect the FDI inflows. Research implications or Originality - The FDI investment decision making of multinational companies is decided by their own purpose. But, in the concept of as follows; 1) FDI is a long-term capital flowing for maximization of economic utility with limited global resource, 2) Thus FDI could be affected by macro socio·economic factors of host country. 3) Also such macro factors is different by each economic growth qualitative level. Therefore macro socio·economic factors of each country could be affected by the qualitative level of their own economic growth. To attract FDI inflows, it is desirable to implement differentiated incentive policies in the qualitative level of economic growth. Furthermore in developing countries it is recommended to implement government driven economic growth policies as follows; fostering well educated human resources, improving technology productivity in the relative lower cost labor market compared to developed countries and boosting international export volume.

• Journal of the Korean Society for Railway
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• v.17 no.5
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• pp.373-380
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• 2014

With a view to the commercialization of the Korean automatic variable-gauge bogie in the Eurasia railway system, the aim of this research was to perform an economic analysis concerning the possible introduction and operation of this bogie at the present time. For this purpose, we compared the possible types of freight connection service for container transportation, transshipment and the gauge-adjustable system, estimating the total life-cycle cost (LCC) incurred by each system, depending on type and quantity, over the whole process of acquisition, operation, maintenance and disposal. Based on this, we presented a case-by case analysis. Furthermore, in estimating economic feasibility, we analyzed the cost-benefit ratio taking into account not only the objective LCC, but also the reduced time required for the gauge-change and customer convenience. After estimating the LCC and analyzing the cost-benefit ratio of the respective systems, we demonstrated the economic superiority of view of the gauge adjustable system.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.22 no.1
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• pp.39-51
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• 2023

This study uses the hedonic price approach to estimate the economic value of a parking lot in an apartment building. In this study, a logarithmic function was applied to estimate the price elasticity of parking spaces. Variables were composed of an independent variable (apartment house characteristics) and a dummy variable (external characteristics). Detailed variables include exclusive area, number of floors, waterproofing, number of bathrooms, and number of parking spaces per household. Based on the results of the analysis for the entire year, the increase in the number of parking spaces affects a price increase of approximately 25.97 million won to 59.68 million won, which can be interpreted as the economic value of the parking space. However, since Hanam City was specified in this study, there is a limit to generalizing the current results and using them for project evaluation.

• The Korean Journal of Community Living Science
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• v.16 no.3
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• pp.47-55
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• 2005

The purposes of this study are to examine the economic conditions and parenting of custodial fathers/mothers and to explain their impacts on the children's social adjustment after divorce. A total of 185 custodial parents divorced within the last 5 years completed a structured questionnaire. Children's social adjustment was the dependent variable in this study and was defined as their school performance and behavior problems. Results show that compared with divorced custodial fathers, divorced custodial mothers demonstrate more effective parenting, but there were no differences in economic conditions between them. In addition, children in single-father divorced families have lower school grades and more behavior problems than those in single-mother divorced families. Results also indicate that the economic conditions and parenting have different effects for children across family type. For children raised with a custodial father in divorced families, the economic conditions and the divorce duration are associated with lower school grades and behavior problems. For children with a custodial mother, however, the effective of parenting and the children's age have significant effects on the children's social adjustment after the parent divorced. Based on these results, this study proposes strategies for the improvement of children's adjustment in divorced families.