• Journal of Korea Port Economic Association
• /
• v.38 no.1
• /
• pp.113-127
• /
• 2022

The purpose of this study is to analyze the efficiency of 90 domestic passenger shipping routes using the DEA Window model as a Decision Making Unit (DMU). Data from 2015 to 2019 are divided into three windows, and efficiency was analyzed by using the number of passenger ships of sails, gross tonnage and distance traveled as input variables and transportation performance of the general public and islanders as output variables. As a result of the analysis, improvements are derived and presented for routes with low relative efficiency. In particular, the efficiency is evaluated for general routes operated by private operators as profit routes and auxiliary routes supported by the government as non-profit routes. In addition, scale efficiency (SE) is derived by using the technical efficiency (TE) of the CCR model and the pure technical efficiency (PTE) values of the BCC model. It is found that the inefficiency of the route was due to pure technical efficiency (PTE) rather than scale efficiency (SE). It will be necessary to consider the improvements for each route shown in the analysis results of this study when establishing the policy for the domestic passenger shipping route.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.36 no.1
• /
• pp.17-23
• /
• 2013

This study analyzed the efficiencies of Korean fisheries cooperative's 97 operation offices in the capital and surrounding area. We used the DEA model for checking the technical and scale efficiencies in the financial business of them. We divided the business into two parts, the productivity (efficiency for increasing deposit and loan) and profitability (efficiency for increasing the profit and reducing the risk from the loan). The results show that the additional profitability increase is very difficult because most of the offices have full technical efficiency for profitability. But additional analysis based on Slack-based Measure (SBM) DEA model shows that Kyung-Gi region can increase the profitability. SBM model analysis also gives us the possibility that customized policy can apply to each offices considering each factors affecting the productivity and profitability.

• Journal of the military operations research society of Korea
• /
• v.35 no.2
• /
• pp.99-117
• /
• 2009

Energy is essential factor of production for a firm to produce goods and services. If so, what is the condition of maintaining profit of a firm when energy price is going up? In conclusion, the condition is that the rate of productivity improvement should be greater than the rate of energy price increase. To put this concretely, when the elasticity of energy price as to the productivity improvement is greater than the weight of the energy cost on to the total revenue of the firm, the firm can escape the negative effect of energy price increase. This is that, saying that once more, the firm have to reduce the energy cost or promote energy efficiency to maintain appropriate or sufficient profit when energy price is going up fast. Therefore, in this study we will analyze the effect of the oil price increase on the energy saving investment and that of energy saving investment on the energy efficiency in the field of Korean manufacturing industry. In doing so, this study could show that the effect of energy price increase on the energy efficiency of the firm and the factor of that mechanism.

• Journal of the Korean Wood Science and Technology
• /
• v.21 no.1
• /
• pp.7-14
• /
• 1993

To increase the production of mushrooms and the economic efficiency of mushroom cultivation, the pinchips(PC) and sawdusts(SD) of three Korean oak species were tested as cultivating media for Lentinus edodes with varing the composition of the media. The results are as follows. 1. Organic acids(tannic acid and citric acid), which were added in the PC medium to enrich the quality of mushrooms, did not increase the growths of the mycelia and the quality. 2. The mushrooms were able to be harvrested from six months after beginning the cultivation. No significant differences were found among the qualities of the mushrooms produced by various treatments. 3. The production rate of mushroom was relatively high with, 28.4~29.3% (700~730gr./2,500gr pack). The net profit estimated was about 1,450 won per pack.

• Proceedings of the KIEE Conference
• /
• 2005.07a
• /
• pp.819-821
• /
• 2005

Since the System Marginal Price (SMP) is a vital factor to the market entities who intend to maximize the their profit, the short-term marginal price forecasting should be performed correctly. In a electricity market, the short-term trading between the market entities can be generally affected a short-term market price. Therefore, the exact forecasting of SMP can influence on the profit of market participants. This paper presents a methodology of day-ahead SMP foretasting using Autoregressive Integrated Moving Average (ARIMA). To show the efficiency and effectiveness of the proposed method, the numerical studies have been performed using historical data of SMP in 2004.

• The Journal of Fisheries Business Administration
• /
• v.26 no.1
• /
• pp.29-40
• /
• 1995

Since the coastal countries, such as Unite States and other Latin America countries, proclaimed their 200 nautical mile Exclusive Economic Zone, these countries have attention to the need to develop effective coastal management and resource conservation But these countries often perceive themselves as being in competition with each other for profitable for the expansion of the vested EEZ. In such a situation, Exclusive Economic Zone expansion can appear as attractive policy tools in a coastal fishing firms in a noncooperative rivalries with pelagic countries, enable them to expand their fishing share and earn more profits. In reality, the coastal countries strategic Exclusive Economic Zone expansion change the initial condition of the game that both countries' fishing firms play. In this case, the coastal countries' fishing, such as South Korea, Japan and others, act as a followers. As result, the coastal countries' welfare is improved because of pelagic countries profit share shifts to the coastal countries profit share. In this paper, we find that coastal countries strategic EEZ expansion policy may not improve the coastal contries welfare if the shifting profits are dominated by the direct lobbying costs and related resource depletion.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.22 no.50
• /
• pp.313-322
• /
• 1999

EVA(Economic Value Added) is a management performance evaluation tool that determines whether a business is earning more than its true cost of capital. Leading corporations like Coca-Cola, AT&T and Briggs&Stratton have set up EVA measurement systems throughout their organizations. EVA reflects opportunity cost of equity ignored in calculating accounting profit and emphasizes the efficiency of capital employed by measuring how much the manufacturing and selling activities produce the economic profit in excess of cost of gross capital. In this paper, we define the concept of EVA and present an example to show the usefulness of EVA.

• Journal of Korea Port Economic Association
• /
• v.19 no.2
• /
• pp.111-139
• /
• 2003

In this paper, the unbiasedness hypothesis cannot be rejected for JPY. It means that Japanese forward exchange market is efficient. This implies that there would not be an unusual profit from speculation. However, the unbiasedness hypothesis can be rejected for THB, HKD, IDR. It means that Asian forward exchange market is inefficient. This implies that there would be an unusual profit from all available information. This suggests that forward exchange rates cannot be an unbiased estimator of future spot exchange rate. This result explains that the actual pricing for forward rate is not based on the international financial market's pricing mechanism of interest rate parity theory, but rather depends upon that simple market expectations and aspirations.

• Journal of the Korea Safety Management & Science
• /
• v.21 no.4
• /
• pp.75-80
• /
• 2019

Sales of the Korean clothing industry grew to 16.9 percent on-year in 2010, but the growth rate dropped to 3 percent from 2011 to 2016 and the overall market began to slump to 1.1.6 percent in 2017. The competitiveness of clothing companies is also a major sector in logistics capability, and the average logistics cost of domestic clothing companies is 8.3 percent of sales in 2011, higher than the average 8 percent of domestic industries, and 36.4 percent of the total storage cost in 2011, higher than the 28.8 percent share of the total storage cost of domestic companies. As domestic production conditions such as wage hikes and labor disputes worsened in the 1990s, production facilities were rapidly moved overseas, which led many clothing companies to have no production facilities or a minimal production base in Korea and focus on marketing and design capabilities. The total storage capacity and storage efficiency of the logistics center became very important as the products were changed to the form of mass warehousing and small-volume forwarding. Research shows that building column spacing, a model of this research, can affect the amount of hanger rack storage empirically, so for sustainable growth of clothing companies, it is necessary to improve competitiveness in the logistics market by reducing costs and improving efficiency to overcome difficulties in corporate management. Because logistics costs are 8.3 percent and operating profit to sales ratio is 2 percent, it is expected that operating profit will increase by 41.5 percent if logistics costs are reduced by 10 percent. If 10% of storage cost is saved based on storage cost, operating profit is expected to increase by 15% To strengthen the competitiveness of the clothing industry, a reduction in logistics costs is essential. Therefore, the purpose of this study is to provide hints that logistics experts can have empirically small amounts in reducing storage costs through column spacing adjustment of logistics centers that have not been dealt with statistically until now, and to contribute to the continued growth of clothing companies and the development of the domestic logistics industry.

• The Journal of the Korea Contents Association
• /
• v.16 no.2
• /
• pp.580-587
• /
• 2016

This paper examined the relationship among corporate cash flow, its accruals, and its factors with its continuity of profit and corporate value by regression analysis of KOSDAQ based midsize manufacturing enterprises for 11 years from 2004 to 2014 year. Through this empirical analyze, corporate operators can have a chance to find opportunities to improve the efficiency of business operations, and to the potential investors, it can give the perspective through providing the basic information for the rational investment decisions. Through this analysis, its cash flow, accruals and its factors showed continually a significant relationship with its corporate operating profits and its market values. Thought out the relation analysis, its cash flow, its accurals and the factors of the accruals, account receivables, inventories affected the positive(+) impact on its business profits. But, its account payables affected negative(-) impact on its business profit. The other hand, the cash flow from operating activities and accruals related to capitalization of assets and liabilities fluctuations affected a positive(+) effect on the company market value.