• Journal of the Korean Society for Railway
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• v.10 no.2 s.39
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• pp.137-145
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• 2007

In traditional financial theory, the discount cash flow model(DCF or NPV) operates as the basic framework for most analyses. In doing valuation analysis, the conventional view is that the net present value(NPV) of a project is the measure of the present value of expected net cash flows. Thus, investing in a positive(negative) NPV project will increase(decrease) firm value. Recently, this framework has come under some fire for failing to consider the options of the managerial flexibilities. Real option valuation(ROV) considers the managerial flexibility to make ongoing decisions regarding the implementation of investment projects and the deployment of real assets. The appeal of the framework is natural given the high degree of uncertainty that firms face in their technology investment decisions. This paper suggests an algorithm for estimating volatility of logarithmic cash flow returns of real assets based on the Black-Sholes option pricing model, the binomial option pricing model, and the Monte Carlo simulation. This paper uses those models to obtain point estimates of real option value with the G7- HSR350X(high-speed train).

• The Journal of Sustainable Design and Educational Environment Research
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• v.2 no.1
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• pp.29-48
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• 2002

This study is for achievement of the expected aim on establish principle colour scheme of exterior and interior school facilities. Also this study aims to utilization of the data which is need for educational colour scheme of school facilities basically. The result of this study is as follows; 1) Domestic case study in primary school colour value distributed middle and high level between 5R and 6Y, the case study of foreign colour scheme distributed low and middle level. 2) Domestic case study in middle school facilities colour scheme distributed same colour of R, YR and the chroma distributed between 1 to 4. 3) The case study of domestic and foreign high school colour scheme distributed that in cases of domestic the colour scheme distributed very loose style and foreign cases distributed same colour of RP to YR with middle and high level of value and low chroma. 4) Exterior school facilities colour scheme distributed in Busan is that N~5GY(value 8~9 and chroma 0~8) in main school building skin material colour, 0~4 value and 7.5~9 chroma in assistant skin material colour. 5) Interior school facilities colour scheme distributed same colour of B, BF, PB, RP, N, YR in class room and open classroom in school mainly.

• Journal of the Korea Society for Simulation
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• v.10 no.1
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• pp.63-65
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• 2001

To investigate the natural frequencies of curved piping systems with various elbow angles conveying flow fluid, a simulation is performed considering Initial tension due to the inside fluid. The system is analyzed by finite element method utilizing straight beam element. Elbow part is meshed using 4 elements, and the initial tension is considered by inserting equivalent terms into the stiffness matrix. Without considering the initial tension, the system becomes unstable, that is, the fundamental natural frequency approaches to zero value fast, as the flow velocity reaches critical value. With the initial tension terms, the system becomes stable where there is no abrupt decrease of the fundamental natural frequency. The change rate of the natural frequency with respect to the flow velocity reduces. As elbow angle increases, the system becomes stiffer, then around 150 degrees of the elbow angle the natural frequency has the largest value, the value decreases after the angle of the largest natural frequency. When angle is between 170 degrees and 179 degrees, the natural frequency is very sensitive. This means that small change of angle results in great change of natural frequency, which is expected to be utilized in the control of the natural frequency of the piping system conveying flow fluid.

• The Journal of the Korea Contents Association
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• v.11 no.10
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• pp.85-92
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• 2011

Greimas's Carre Semiotique, as Floch showed in his analysis of car, has much effectiveness not only in theoritical aspect but also in practical aspect. This paper used his theory to analysis the value system of MMORPG. Lineage, the game known as representative game of 'nogada', was the starting point. WOW is supposed to have opposition relation with lineage and Ragnarok contradiction relation, and Mabinogi non contradiction relation. As well as games, the concepts that match to 'nogada' of lineage are also supposed. The value system of games is expected to be useful in further systematic analysis of games and also in practical area of design and marketing.

• Knowledge Management Research
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• v.16 no.1
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• pp.117-142
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• 2015

Recently, the personal cloud computing service has been being spotlighted as an individual tool of productivity enhancement. However, compared to the rosy forecast, its diffusion rate in the domestic (Korean) market is much slower than expected. In order to find the reason for the slow growth of personal cloud computing service, we attempt to identify influencing factors on user's adoption resistance, while most prior research has focused on the factors affecting its adoption. Based on both the person-technology fit model and the privacy calculus model, we propose technostress and perceived value as key antecedents of adoption resistance. In addition, we identify (1) technical (pace of change and complexity) and personal (self-efficacy) influencing factors on technostress, and (2) beneficial (perceived mobility and perceived availability) and harmful (perceived vulnerability) influencing factors on perceived value. To validate our research model, 133 individual samples were gathered from undergraduate and graduate students who had actual experience of using at least one of personal cloud computing services. The results of the structural equation modeling confirm that both technostress and perceived value have significant effects on adoption resistance, but they have different influencing mechanisms to different types of adoption resistance (indifference, postponement, and rejection). Theoretical and practical contributions are discussed in the conclusion.

• Korean Journal of Organic Agriculture
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• v.28 no.1
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• pp.31-57
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• 2020

Korea-US FTA amendment became effective January 1, 2019 through several trade negotiations between the two countries. These amendments did not include changes in the agricultural sector. However, given the policy direction of the Trump administration, it is difficult to be certain that the existing Korea-US FTA on the agricultural sector will remain unchanged. This study examines the potential impact of changes in the US beef import tariff rates under the Korea-US FTA, which is progressively eliminated until 2026 using a dynamic partial equilibrium model. The modelling system is simulated with 100% decreases of tariff rates over 2020~2026 period and then compared to the baseline which is developed based on the current Korea-US FTA tariff rates. According to the scenario analyses results, 100% decreases of US beef tariff rate lowered Korean beef cattle production value up to 4.23%. Looking at this change in terms of absolute value rather than percentage, the total production value over 2020~2026 is expected to decrease by 815 billion won compared to Baseline. This reduction in production value in dynamic analysis is 67 billion won higher than the comparative static analysis.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.2
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• pp.1-18
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• 2004

Due to the change to the digital environments, the offer of services on the on-tine differs from one on the on-line. This paper Identifies what functions internet business organizations should fulfill to provide on-line services of good qualify and analyzes whether these functions lead effectively to the expected performance of Internet business firms. The components of service orientation in the Internet business organizations appear to be the servant leadership, customer treatment from the Internet service encounter, Internet service failure prevention and recovery, Internet service standards communication, Internet service training, and internet service rewards. Therefore, these determinants should be incorporated in the practices, Procedures, end routines of Internet business organizations in order to create and provide excellent Internet services. Furthermore, it is demonstrated that Internet service orientation has a significant effect on satisfaction by employees and customers, the value and quality of Internet service, and the firm's performance. This implies that the service orientation is an Important factor In the on-line service organizations and that the internet business can be successful when the service orientation is diffused throughout the firm's organizations. It is also shown that the important factors, which connect Internet service orientation and its performance, are the service quality, value of Internet service and customer satisfaction. That is, the service orientation can ultimately lead to the corporate performance when customers are satisfied after confirming the value and quality of Internet service by visiting the web site.

• Bulletin of the Korean Chemical Society
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• v.18 no.5
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• pp.523-527
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• 1997

Apparent second-order rate constants (kapp) have been measured spectrophotometrically for the reaction of 2,4-dinitrophenyl benzoate (DNPB) with 6 secondary cyclic amines in H2O containing 20 mole% DMSO at 25.0±0.1 ℃. The Bronsted-type plot (log kapp vs. pKa) shows a break at pKa near 9.1, e.g. two straight lines with βapp values of 0.67 and 0.44 for the low basic (pKa < 9.1) and the highly basic (pKa > 9.1) amines, respectively. Using an estimated k2 value of 3×109 sec-1, all the other microconstants (k1, k-1 and K) involved in the present aminolysis have been calculated. The k value decreases with increasing the basicity of amines while k1 and K values increase with increasing the amine basicity, as expected. Good linear Bronsted-type plots have been obtained for these microconstants of the present aminolysis of DNPB. The magnitudes of the slope of the Bronsted-type plots, k1 and k-1 have been calculated to be 0.43 and - 0.24, respectively, indicating the k-1 step is about two folds less sensitive than the k1 step to the amine basicity. The K value has been calculated to be 0.66, which appears to be much smaller than the one for other aminolyses showing general base catalysis. The small K value has been attributed to the absence of general base catalysis in the present aminolysis of DNPB.

• Journal of the Korea Fashion and Costume Design Association
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• v.22 no.4
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• pp.17-24
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• 2020

Storytelling, a medium that arouses the customers' purchasing need by playing on their emotions, is the best content that can be used as it can increase the value of goods using information. This paper's significance is that it suggests cultural products that can be used by using Baeke relic Jinmyosu (Guard Animals) as a motif. The purpose was to present the possibility of high value-added cultural products using storytelling techniques. This study developed storytelling by adding the meaning of Jinmyo and Beoksa, who calm protected their masters from evil forces with horns and wings, and has the meaning of ascending into heaven and guiding the soul on the right path. That image gives a glimpse of originality and differentiation to Baekje. This study proposed 4 cultural products as 'Keeper Stone Mason' and 4 'Stone Mason Teller.' The proposed cultural products can help to give correct awareness of Baekje culture through a correct understanding of the historical significance of the Baeke relic, Jinmyosu. Moreover, it will help promote the originality and excellence of Baekje culture around the world by enhancing the value of Baekje culture. This study is expected to be used as a guideline for further research on developing cultural products that can create added value in various fields.

• Journal of Korea Trade
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• v.23 no.8
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• pp.73-88
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• 2019

Purpose - This paper finds the repurchase intentions of customers in a sharing economy via Airbnb and Uber, which are classic sharing-economy service businesses. Design/methodology - This paper analyzes sharing economy effects using variables in a structural equation model. Findings - We verified that values have a significant effect on the trust in a platform. We also verified that the effects that value propositions have on repurchase intention are significant. Research Limitations/Implications - First, there may be some distinction between men and women with regard to divided trust. Second, if commitment is divided into commitment to the host and commitment to the platform, as is the case for trust, the results will not be as expected. Third, if results could be categorized by nationality after gathering more samples, each nationality might have different opinions about these factors. Finally, the sharing economy can be identified and analyzed for various industries, such as space, transportation, and service. At this point, it is inconvenient to not have more implications. Originality/value - This study focuses on the repurchase intentions of customers. Unlike earlier studies, it is meaningful that trust is divided between the host and the platform, and that it can be analyzed. It is also important to establish the relationship between trust and commitment, and the relationship toward repurchasing in the shared-economy.