• International Journal of Highway Engineering
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• v.15 no.3
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• pp.169-176
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• 2013

PURPOSES : Lots of criticism such as over/duplication investment, inconsistency of the policies among local governments and national plans etc. has been aroused due to the policy of supply-driven construction for transportation facilities. Recently, according to the environmental-friendly transportation policy, the investment of railroad has been expanded gradually, however the duplication with existing road facility makes it difficult to construct railroad. Thus it is necessary to evaluate the interrelationship between new project and existing facilities in the planning stage. However the method and the criteria for analyzing the duplication and over-investment of projects are not established in the manual, thus the feasibility of these projects are carried out from the economic point of view. METHODS: First, It reviewed about interrelationship criteria(domestic, overseas) and proposed implications and this study directions. Next, It developed the methods of evaluating independency, competitiveness and complementarity. RESULTS : In this study, the methods of evaluating independency, competitiveness and complementarity etc. are suggested to analyze the interrelationship between transportation facilities. The case study was carried out to examine the applicability of the methods. CONCLUSIONS: The methods raise rationality of decision-making compared to existing one. In the future, these methods are introduced into the manual of pre-feasibility study and feasibility study, more efficient decision-making and investment are expected.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.75-87
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• 2011

Congestion problems can be approached from the viewpoint of system dynamics theory. The relationship between road capacity and congestion can be explained by the 'relative control' archetype among four system archetypes suggested by Wolstenholme. There is a balancing feedback loop between road capacity and road congestion. However, there is another balancing loop between road congestion and car traffic volume, which keeps disrupting the equilibrium of the former loop. A system dynamics model, which is based on a partial adjustment model of induced traffic in the literature, is built to simulate three road building scenarios: 'Expanding investment', 'Balancing investment' and 'Frozen road investment' scenarios. The 'Expanding investment' scenario manages to drop congestion levels by 9% over 30 years, however, causing much higher emissions of $CO_2$ than other scenarios. The trade-off relationship between congestion levels and environmental costs must be taken into consideration for road investment policies.

• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.639-666
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• 2018

This paper analyses the investment options of groundwater development project under water price uncertainty. The optimal investment threshold price which trigger the investment are calibrated base on monopolistic real options model. Stochastic dynamic model is set to reflect the uncertainty of water price which follows the GBM (Geometric Brownian Motion) process. Our finding from non-cooperative investment decision model is that uncertainty of water price could deter the groundwater investment by considering the existence of option values. For policy markers, it is easy to manage 'charges for utilization of groundwater' rather than 'performance guarantee ratio' when managing groundwater investment with pricing policy. And it is necessary to make comprehensive and well-designed policies considering the characteristics of regional groundwater reservoir and groundwater developers.

• Journal of Distribution Science
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• v.13 no.8
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• pp.41-48
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• 2015

Purpose - This study's objective is to confirm the effects of the perceived relationship value, alternative attractiveness, and investment size on Korean food service franchisees' commitment, using an investment model. Among the three factors, the study examines which factors enhance or weaken the commitment in the franchising investment model. Research design, data, methodology - The data were collected from 495 franchisees and analyzed by a SEM (Structure Equation Model) using path analysis by SPSS 18.0 and AMOS 18.0. Results - 1) The perceived relationship value has a positive effect on franchisee commitment. 2) The alternative attractiveness has a negative effect on franchisee commitment. 3) The investment size has a positive effect on franchisee commitment. Conclusions - The findings show that the investment model can be adapted to franchising and confirms previous investment model study results. We can assume that the higher the perceived relationship value and the bigger the investment, the stronger the commitment, and the greater the alternative attractiveness, the weaker the commitment. These results offer managerial implications for a franchisor wanting to strengthen franchisee commitment.

• International Journal of Computer Science & Network Security
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• v.22 no.2
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• pp.376-384
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• 2022

The article considers the features of the organizational-economic mechanism of attracting investment resources in the innovative development of regions in terms of sustainable development. Factors influencing the investment activity of regions in terms of sustainable development, including: institutional structure, intellectual capital, level of innovation infrastructure, business development, financial and credit component, level of human resources development, information environment, production development, environmental component. Factors influencing the attraction of investment resources in the regions are identified. The dynamics of changes in the volume of capital investments and foreign direct investment in Ukraine is analyzed. The regional features of the distribution of capital investments in the conditions of sustainable development are revealed. The essence of the main principles on the basis of which the organizational - economic mechanism of attraction of investment resources in innovative development of regions in the conditions of sustainable development should be formed is analyzed. A set of measures to regulate the investment processes of the regions has been identified. The mechanism of attraction of investment resources in innovative development of regions in the conditions of sustainable development is outlined. The results of activity of separate Agencies of regional development for 2020 in the direction of investment and innovation activity and increase of level of investment attractiveness of regions are analyzed. Important prerequisites for the effective implementation of the organizational-economic mechanism for attracting investment resources in the innovative development of regions in terms of sustainable development are identified. The main directions of directing the efforts of the organizational-economic mechanism to ensure the attraction of investment resources in the innovative development of regions in the context of increasing the level of investment activity in the regional aspect are substantiated.

• Journal of Animal Environmental Science
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• v.3 no.1
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• pp.49-56
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• 1997

Most of Korean broiler farms are constructed with vinyl houses. Such types of broiler farms might be cheaper in terms of cost, but poor in terms of environment condition. According to enlargement of broiler farm size, high value production systems or automatic facilities are introduced in this field. However, investment may not always guarantee the profit of the management. Therefore, it is necessary to undertake the investment analysis before decision making for the investment. Under the assumption that 870 Pyoung(≒$3.3㎡) of a broiler farm within 1,740 Pyoung(≒3.3㎡) of land is built with the producing capacity of 50,000 heads of chicken in a time. The total investment is calculated to be 600 million won(1,000 won≒$1.1), and out of them 58.1% is provided by the owner, 31.6% from the government loan, 5.8% from government subsidy, and 5.3% from other agencies or banks. The expected profit of the broiler farm is 64.6 million won(1,000 won≒$1.1) per year. The IRR calculated is 0.0808 which means that the rate to profit of this project would be 8.1%. This also means that for this investment the interest rate of the capital provided should be less than 8.1% per year. Considering that the current opportunity cost of the own capital is 8.5% this project is not so attractive for those who is going to build broiler farms mainly with their own capital. In other words this project would not be profitable, unless the average interest rate of the loans provided for this project is less than 8.1% per year.

• Environmental and Resource Economics Review
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• v.9 no.5
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• pp.925-945
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• 2000

This paper analyses the impact of energy-saving investment on Greenhouse gas emissions using a model of energy demand in Korea. SUR method was employed to estimate the demand equation. The econometric estimates provide information about the energy price divisia index, sector income, and energy saving-investment elasticities of energy demand. Except for energy price divisia, the elasticities of each variable are statistically significant. Also, the price and substitution elasticities of each energy price are similar to the results reported by the previous studies. The energy-saving investment is statistically significant and elasticities of each sector is inelastic. Using the coefficient of energy-saving investment and carbon transmission coefficient, the amount of reduction of energy demand and the reduction of carbon emissions can be estimated. The simulation is performed with the scenario that the energy-saving investment increase by 10~50%, keeping up with Equipment Investment Plan of 30% increase in energy-saving investment by 2000. The results show that the reduction of energy demand measured as 11.2% based upon 1995's level of the energy demand, in industrial sector. Accordingly, the carbon emissions will be reduced by 11.3% based upon 1995's level of the carbon emissions in industrial sector.

• Korea Trade Review
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• v.44 no.1
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• pp.285-299
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• 2019

The 'One Belt One Road (OBOR)' initiative, which was promulgated as part of the enlargement policy along with the advent of Xi Jinping in 2013, is a policy to expand China's political and economic power externally through linkages with neighboring countries. China's overseas port investment plays an important role in the promotion of the 'OBOR' policy from the coast of China through maritime transportation routes from S.E Asia to Mediterranean and Europe. Since China's overseas port investment has been made from several factors such as political, economic, and military motives, it differs in purpose and character from investments made by private companies, such as Global Port Operators(GTO) which consider profitability first. This study aims to address future prospects and implications by analyzing the geopolitics of China's overseas port investment under the 'One Belt One Road' initiative. According to the results, China's overseas port investment is dominated by state-owned enterprises and political and security factors are more important than profitability. China's overseas port investment has been on a large scale in a short period of time, and China has faced with various problems both domestically and internationally. such as debt default, environmental problems, subordination problems from recipient countries and political and military confrontation with great countries such as United States, Japan and India etc.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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• 2006.11a
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• pp.244-247
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• 2006

Railway is superior to the other land transportation systems in aspects of energy efficiency and environmental problems. Energy efficiency and environmental problems are not considered during a preliminary feasibility study. Investment for railway is low because of low B/C in the economical efficiency analysis during the preliminary feasibility study. The body of this paper studies the data which can reflect environmental problems an assessment of environmental impact. Investment for railway would be higher when main environmental elements are considered before the choice of the railway lines.

• Environmental Engineering Research
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• v.25 no.1
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• pp.71-79
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• 2020

This paper uses super-efficiency DEA model and Malmquist index to evaluate the carbon emission efficiency (CEE) values of the nine western provinces along the "Silk Road Economic Belt" for the period from 2000 to 2015, and analyses the influencing factors of the CEE. The major findings of this study are the following: (1) the overall CEE of the nine western provinces is not high, and there are significant inter-provincial differences in the CEE. Meanwhile, the provinces with higher levels of economic development generally have higher CEE. (2) The annual total factor productivity (TFP) of the nine western provinces, which is mainly determined by technological change, is greater than 1. Moreover, the total average growth rate of the TFP is 15.5%. (3) The CEE of the nine western provinces is not spatially dependent. In addition, the urbanization, openness, use of energy-saving technologies and research and development (R&D) investment have a significant positive impact on the CEE values, while the industrial structure, foreign direct investment, fixed asset investment, government expenditure levels and energy structure have a significant negative impact on the CEE. Among them, R&D investment is the primary factor in promoting the development of CEE, and the government expenditure has the greatest negative impact on the CEE.