• Title/Summary/Keyword: Fair Value

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Money's Worth Analysis of National Pension : Are Returns on National Pension' Contributions Fair? (국민연금에 대한 수익분석 : 국민연금급여는 과연 보험료에 대한 공평한 수익인가?)

  • Kwon, Mun-Il
    • Korean Journal of Social Welfare
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    • v.41
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    • pp.43-67
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    • 2000
  • The main source in financing the National Pension benefits is the contribution raised from the insured's earnings. So, Most of the insured take a great interest in the questions of what return on the payment of contribution National Pension benefits provide and whether there be the difference in return according to earnings level. The Purpose of this study is to assess money's worth of National Pension and to answer the above questions. There are two basic types of money worth analysis, empirical and hopothetical. This study basically belongs to the former in terms that it is based on actual earnings and insured term. For performing money's worth analysis, four different measures which are referred as the "break-even period", the "benefit/tax ratio", the "net lifetime transfer", the "internal rate of return" are used and they all involve the way in which the relationship between the present value of contributions and the present values of benefit is present. The results which evaluate average money's worth of accrued rights before 1999 are le as follows. Break-even period is about 43 months, benefit/tax ratio being 4.9, net lifetime transfers being about 37 mil1ion won, internal rate of return being 33.2%. This verifies that money' worth of National Pension is much higher than actuarially fair. In the mean while, money' worth is proved to be very different according to earnings level. The progressivity relationship between earnings level and rate of return is found in all measures but net lifetime transfer.

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A Weighted Fair Queuing Scheduler Guaranteeing Differentiated Packet Loss Rates (차별화된 패킷 손실률을 보장하는 가중치 기반 공정 큐잉 스케줄러)

  • Kim, Tae Joon
    • Journal of Korea Multimedia Society
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    • v.17 no.12
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    • pp.1453-1460
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    • 2014
  • WFQ (Weighted Fair Queuing) provides not only fairness among traffic flows in using bandwidth but also guarantees the Quality of Service (QoS) that individual flow requires, which is why it has been applied to the resource reservation protocol (RSVP)-capable router. The RSVP allocates an enough resource to satisfy both the rate and end-to-end delay requirements of the flow in the condition of no packet loss, and the WFQ scheduler guarantees those QoS requirements with the allocated resource. In practice, however, most QoS-guaranteed services allow a degree of packet loss, especially from 0.1% to 3% for Voice over IP. This paper discovers that the packet loss rate of each traffic flow is determined by only its time-stamp adjustment value, and then enhances the WFQ to provide a differentiated packet loss guarantee under general traffic conditions in terms of both traffic characteristics and QoS requirements. The performance evaluation showed that the proposed WFQ could increase the utilization of bandwidth by 8~11%.

A Study on the Indirect Expropriation in International Investment - Focused on the Requirements of Indirect Expropriation - (국제투자에 있어서 간접수용에 관한 연구 - 간접수용의 요건을 중심으로 -)

  • Kim, Yong-Il;Lee, Ki-Ok;Li, Jing-Hua
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.47
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    • pp.3-24
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    • 2010
  • The contours of the definition of an indirect expropriation are not precisely drawn. In some recent ICSID decision, tribunals have interpreted the concept of indirect expropriation narrowly and have preferred to find a violation of the standard of fair and equitable treatment. Thus, I analyzed the three Requirements of Indirect Expropriation basis of ICSID Cases as below. First, the effect of measure upon the economic benefit value as well as upon the control over the investment will be the key question when it comes to deciding whether an indirect expropriation has taken place. Whenever this effect is substantial and lasts for a significant period of time, it will be assumed prima facie that a taking of the property has occurred. Second, legitimate play a key role in the interpretation of the fair and equitable treatment standard. But they also found entry into the law governing indirect expropriation. Finally, the duration of a government measure affecting the interests of a foreign investor is important for the assessment of whether an expropriation has occurred.

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LOHAS Marketing Strategy of Fashion Company for Sustainable Image Positioning -Focus on Domestic and Foreign Case Analysis- (패션업체의 지속가능한 기업이미지 포지셔닝을 위한 로하스 마케팅 전략 -국내·외 사례분석을 중심으로-)

  • Hong, In-Sook;Kim, You-Jeong
    • Journal of the Korean Society of Clothing and Textiles
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    • v.35 no.9
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    • pp.1069-1084
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    • 2011
  • This study investigates the main trend of LOHAS, examines and analyzes the LOHAS marketing cases of the fashion industry, and proposes an effective LOHAS marketing strategy for the domestic fashion market. Data were collected from Naver, Google and Daum from 2005 (when LOHAS began to be recognized) to October $31^{st}$ 2010. We searched the research material with keywords related to the research subject (such as eco, green, well being, echo-friendly, LOHAS, sustainable, environmental management, and green management) to conduct a theoretical and exploratory study through qualitative analysis. The data are analyzed with three types such as personal value of eco-friendly fabric, economical value of recycled fabric and re-use or re-form, and social-ethical value of distribution and promotion. The research results show that LOHAS marketing activities focused on personal values and social-ethical values (rather than economical value) and from an eco-friendly management centered on merchandise; in addition, an eco-friendly supply chain management incorporated with a management system were applied. LOHAS marketing strategies at home and abroad revealed some differences in the cases of eco-friendly fabric, recycling, and fair trade.

The Influence of Environmental Concern and Green Fashion Advertisements on Consumer Behavior: Chinese vs. Korean

  • Shi, Hang;Cui, Yu Hua
    • Journal of Fashion Business
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    • v.22 no.6
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    • pp.25-38
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    • 2018
  • Recently, issues on the environment, which have become key bottlenecks relative to sustainable economic development, have generated common concern. However, relatively scant research has been devoted to consideration of relations between consumers' environmental concern, green fashion advertisement value, and green consumption. In this study, using structural equation modeling (SEM), effects of environmental concern, perceived green fashion advertisement value, and attitude towards green fashion advertisements, on ecological purchases and their interrelationships are investigated. A model is constructed to link aforementioned constructs. Data, was collected through a questionnaire-based online survey (www.sojump.com) of 260 Korean consumers and 260 Chinese consumers. Findings suggest that environmental concern can improve their perception of green advertisement value. One of the findings showed strong positive relationship among green advertisement value, positive attitude, and purchase intention towards green fashion advertisement, while environmental concern negatively influenced their attitude towards green fashion advertisements. It suggests that if companies adopt green advertising strategies, environmentally-conscious consumers are willing to pay more, to purchase green fashion goods in to satisfy their needs. We should put more effort in educating consumers about environmental issues, to raise the level of environmental awareness and satisfy their concerns relative to green fashion goods. Conversely, there is significant positive relationship with the moderating effect of consumers' nationality in all paths, so results above would make significant contributions to green literature, and would also contribute to advertisement strategy implications as well. Especially fashion marketers, an use accurate and fair environmental claims in their advertisements to increase sale and profits.

SUNSPOT MODELING AND SCALING LAWS

  • SKUMANICH A.
    • Journal of The Korean Astronomical Society
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    • v.36 no.spc1
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    • pp.1-5
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    • 2003
  • In an early paper Skumanich suggested the existence of a scaling law relating the mean sunspot magnetic field with the square-root of the photospheric pressure. This was derived from an analysis of a variety of theoretical spot models including those by Yun (1968). These were based on the Schliiter-Temesvary (S- T) similarity assumption. To answer criticisms that such modeling may have unphysical (non-axial maxima) solutions, the S-T model was revisited, Moon et al. (1998), with an improved vector potential function. We consider here the consequences of this work for the scaling relation. We show that by dimensionalizing the lateral force balance equation for the S- T model one finds that a single parameter enters as a characteristic value of the solution. This parameter yields Skumanich's scaling directly. Using an observed universal flux-radius relation for dark solar magnetic features (spots and pores) for comparison, we find good to fair agreement with Yun's characteristic value, however the Moon et al. values deviate significantly.

A Comparative Study of the Accounting Standards for Stock Option of Japan and Korea (일본과 한국의 스톡옵션 회계기준에 관한 비교연구)

  • Choi, Jong-Yoon;Lee, Sang-Hwa
    • Korean Business Review
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    • v.22 no.1
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    • pp.27-44
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    • 2009
  • This paper compares the accounting standards for stock option of Japan and Korea. Especially, tire setting process of accounting standards for stock option, accounting methods and disclosures for stock option in two countries are analyzed. The results provide that two countries shaw different characteristics in accounting standards for stock option. First, in Japan, acquired services are reported as compensation costs and capital adjustments. On the other hand, in Korea, in case of cash-settled share- based payment transactions, acquired services are reported as compensation costs and capital adjustments, but in case of equity-settled share- based payment transactions, acquired services are reported as compensation costs and debt. Second, when tire stock option rights are abandoned, they are reported as extraordinary items in Japan and are reported as other surplus in Korea. Third, though both countries do not choose specific stock option pricing model, Japan prefers Black-Sholes Model and Korea regards binomial model as proper model.

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Impact of Network Formation on Entrepreneurial Performance and Growth: A Study of Selected Small Enterprises in Bangladesh

  • Bhuiyan, Bashir Ahmed;Imam, Mahmood Osman
    • Asia-Pacific Journal of Business
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    • v.3 no.1
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    • pp.29-38
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    • 2012
  • This study aims at evaluating the impact of network formation variables and found to have positive impact on the economic performance and growth of the enterprises. The calucation of the weighted scores of networking statements brought some affirmative results to influence the performance of the enterprises. Through multiple regression and logistic regression models it is identified that network formation variables like service receiving status, consultation of the family, other business dummy and attendance in fair have some significant positive impact both on the growth and performance of the enterprises. In addition to above variables, from the set of enterprise characteristics natural logarithm of the market value of total assets and from the entrepreneurs' characteristics set of variables, schooling year and squared value of the experience have been found to have significant positive impact. Finally, it is concluded in the study that to enhance the performance and growth of the enterprises, government and policy rlated organizations need to consider important variables that have positive impact in supplying the entrepreneurial resources especially, developing the net-working relationship.

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A Study on The Energy Conservation System in House for reducing the Environmental Load (환경부하 저감을 위한 주택의 에너지절약 시스템에 관한 연구 -소형코제너레이션시스템과 태양광발전시스템을 적용한 성능평가-)

  • 정진현
    • Journal of the Korean housing association
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    • v.11 no.1
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    • pp.159-169
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    • 2000
  • This study was examined the energy conservation and the environmental value through the computer simulation employing the micro cogeneration system and the photovoltaic power generation system in house. The results of this study were as follows:1. In case of the micro cogeneration system. With the conditions of 'the electric produced by the micro cogeneration system was not sold to the electric power company', 'control quantity of commercial power supply was 10%' , 'operating time was 6 hour', 'minimum load rate of generator was 50%', and 'having a storage tank', the micro cogeneration system was superior compare to the comparative system in 2.4% of the energy conservation and 4.18% of the environmental value. 2. In case of the photovoltaic power generation system. 1) The 66.9% of total generated electric power from the photovoltaic power system was sold to the electric power company. That is, it could help to preserve the electric power from commercial power supply.2) There is a possibility of cutting the fair rate of electric power.

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Analysis of Physical, Chemical and Biological Parameters, Based on Long-Term Monitoring (2004 $\sim$ 2007), in Daejeon Stream (대전천 수계의 장기 모니터링 (2004$\sim$2007)에 의한 물리적, 화학적, 생물학적 평가 변수 분석)

  • Lee, Min-Jung;Choi, Ji-Woong;Kim, Hyun-Mac;An, Kwang-Guk
    • Korean Journal of Ecology and Environment
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    • v.42 no.3
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    • pp.364-373
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    • 2009
  • We evaluated stream health, based on integrative approaches of qualitative habitat evaluation index (QHEI), chemical water quality and the index of biological integrity (IBI) using fish assemblages in Daejeon Stream during August 2004 - October 2007. The QHEI values in this study averaged 78.2 (n=28, range: 47$\sim$124), indicating "fair" condition based on the criteria of US EPA (1993). The highest value was in the headwater site (S1) that was 112 (good), whereas the value in S3, mid and downstream was SS (fair-poor) that was the lowest owing to a disturbance on the bed and an artificial bank. Concentrations of chemical parameters such as BOD, TP and conductivity increased from the upstream to the downstream due to higher inputs of organic matters and nutrients from the urban area. Conductivity and TP showed a dilution of stream water by rainwater during summer monsoon. Analysis of fish compositions showed that total number of species was 24 and Zacco platypus was predominated (82%). The mean IBI was 17 (range: 12$\sim$30) during four years and the IBI values also decreased from S1 to S4. These results indicated that ecological health was degradated distinctly as the stream goes down through the city-center. We concluded that Daejeon Stream running through the city are influenced by chemical impact such as an influx of domestic sewage as well as the quality of habitat.