• KIEAE Journal
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• v.15 no.1
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• pp.69-75
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• 2015

Building has required the repair money to improve or maintain the decent living condition continuously after construction. It needs to grasp the building deterioration to decide the scope and contents before it is repaired. Under various conditions such as physical, social and financial constraints, the repair plan would be prepared. Among constraints, the cost is indispensible to specify the repair time, repair scope and target. The required cost would be planned to preparation over the years. In this paper, it aimed at providing the repair strategy of the public rental housing in repair time, using the cumulative cost model which is $3^{rd}$ function. In the $3^{rd}$ function, the inflection point should exist in the line. And there are two types in the cumulative model, First, if the maximum cost be shown, the repair time would be provided. Second, if the maximum cost not be shown, the cumulative function should be proportionally increased and the repair strategy is properly provided with a short cycle. In results of this study, 11 items would provide the repair time. These cumulative function would be repaired about 4 years after constructed, and after about 4 years, the cumulative function would be continuously increased.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1998.10a
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• pp.407-410
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• 1998

Configuration is a set of building block processes, a series of selection and combining parts or components which composes a whole thing. A whole thing could be such a configurable object as manufacturing product, network system, financial portfolio, system development plan, project team, etc. Configuration problem could happen during any phase of product life cycle: design, production, sales, installation, and maintenance. Configuration has long been one of cost and time consuming work, because only high salaried technical experts on product and components can do configuration. Rework for error adjustments of configurations at later process causes far much cost and time, so accurate configuration is required. Under the on-line electronic commerce environment, configuration problem solving becomes more important, because component-based sales should be done automatically on the merchant web site. Automated product search, order placement, order fulfillment and payment make that manual configuration is no longer feasible. Automated configuration means that all the constraints among components should be checked and confirmed by configuration engine automatically. In addition, technical constraints and customer preferences like price range and a specific function required should be considered. This paper gives an brief overview of configuration problems: characteristics, representation paradigms, and solving algorithms and introduce CRSP(Constraint and Rule Satisfaction Problem) method. CRSP method adopts both constraint and rule for configuration domain knowledge representation. A survey and analysis on web sites adopting configuration functions are provided. Future directions of configuration for EC is discussed in the three aspects: methodology itself, companies adopting configuration function, and electronic commerce industry.

• Management Science and Financial Engineering
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• v.19 no.2
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• pp.19-29
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• 2013

Refuse collection network design, one of major decision problems in reverse logistics, is the problem of locating collection points and allocating refuses at demand points to the opened collection points. As an extension of the previous models, we consider capacity and maximum allowable distance constraints at each collection point. In particular, the maximum allowable distance constraint is additionally considered to avoid the impractical solutions in which collection points are located too closely. Also, the additional distance constraint represents the physical distance limit between collection and demand points. The objective is to minimize the sum of fixed costs to open collection points and variable costs to transport refuses from demand to collection points. After formulating the problem as an integer programming model, we suggest an optimal branch and bound algorithm that generates all feasible solutions by a simultaneous location and allocation method and curtails the dominated ones using the lower bounds developed using the relaxation technique. Also, due to the limited applications of the optimal algorithm, we suggest two heuristics. To test the performances of the algorithms, computational experiments were done on a number of test instances, and the results are reported.

• Korean Journal of Culture and Social Issue
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• v.12 no.1
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• pp.161-195
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• 2006

The purpose of this study is to examine factors influencing quality of life for individuals in the family, school or workplace, leisure settings, and Korean society using the indigenous psychological analysis. A total of 3,406 participants, consisting of 1,331 elementary, middle, high school students and 2,075 parents and teacher, completed an open-ended questionnaire developed by Kim and Park (2004b). The respondents reported the factors that influence quality of life in Korean society as follows: Economic condition, collective effort, leisure and cultural life, harmonious interpersonal relationships, effective government policy, and educational attainment. The factors that reduce quality of life in Korean society are as follows: Economic uncertainty, political instability, lack of citizenry, ingroup favoritism, corruption, lack of facilities for leisure and social life, and overemphasis on educational achievement. Second, the factors that influence quality of life in the family are as follows: Harmonious family relations and financial security. For students relationship with friends and academic achievement are reported as important factors influencing quality of life at school. For adults, harmonious interpersonal relationship, financial factors and occupational achievement are reported as important factors influencing quality of life at the workplace. For leisure and social leisure life, financial security, leisure time and interpersonal relationships are reported as important factors influencing quality of life. Third, as for generational differences, students reported political instability and adults reported economic uncertainty as the most important factor reducing quality of life in Korean society. For family life, students reported conflicts among family members and adults reported financial constraints as the most important factor reducing quality of life. For leisure and social life, students reported lack of leisure time and adults reported financial constraints as the most important factor reducing quality of life. Fourth, for students the following characteristics were associated with higher quality of life: Higher socio-economic status of the family, younger, and higher academic achievement. For adults, the following characteristics were associated with higher quality of life: Higher socio-economic status of the family and greater achievement their social life. Implications of these results on the quality of life in Korea, focusing on human relationship, financial factors, self-regulation and educational achievement are discussed.

• Journal of Distribution Science
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• v.14 no.2
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• pp.13-22
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• 2016

Purpose - We examine the marginal value of cash in Korean retail firms, largely unexamined in literature. The marginal value of cash plays pivotal role in cash management policy; especially, a significantly low marginal cash value indicates substantial manager-shareholder conflicts. Research design, data, and methodology - We estimate marginal cash values by adopting the approach of Faulkender & Wang (2006). The sample of retail firms traded in Korean Stock Exchange from 1991 to 2013 is analyzed. Results - We estimate the marginal value of cash for the retail firms as 0.75, implying significant manager-shareholder conflicts. We find a lower marginal value of cash for financially constrained retail firms, contradicting existing theories. The marginal value of cash increases substantially after 2000s, suggesting severe agency conflicts in 1990s as a key reason behind our findings. Conclusions - Our findings support the substantial resource diversion problem in Korean firms and the agency theory of cash management policy. Our results argue against the widely accepted view focusing on implications of financial constraints, which highlights a need of new cash management theory.

• International Journal of Human Ecology
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• v.5 no.1
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• pp.117-130
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• 2004

Poverty is an important issue, not only in developing countries but also in industrialised societies. In 1999 15% of the European population have been in risk of poverty and the number of people living in poverty in Germany continues to increase. As poverty concerns all aspects of life, it influences health, well-being and the nutrition of the people living on low-income. Although this problem is obvious, only few surveys have been conducted to analyse it and therefore there is only limited information on the nutritional situation and nutrition behaviour of the poor. A qualitative study, which looked closely at the nutrition behaviour of 15 low-income families, was carried out in Giessen, Germany. The results showed that the nutritional situation of poor families differs from that families with a higher income have, the reasons being that their scope for action is restricted by a shortage of money and that there is a lack of skills and knowledge to provide family members with adequate nutrition. Strategies to improve the nutrition situation of poor families should aim at encouraging them to acquire relevant information and appropriate skills to adopt a healthier diet within their financial, social and cultural constraints. Also there have to be socio-political arrangements, which improve existing financial and social provisions as well as preventive educational measures.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.4
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• pp.631-646
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• 2013

This paper empirically explores the pattern of causality between bank lending and housing prices in Korea over a period of the early 1990s to the end of 2000s by employing a long term cointegration and short-term time series regression analysis. Although the contemporaneous correlation between bank lending and housing prices is large, the analysis shows that the intense interaction between credit growth and bank lending to household arises from a growth in banking lending responding to an increase in housing prices. In addition, the regulatory change such as the introduction of financial constraints on bank loans such as LTV and DTI in the early and mid-2000s has played a significant role in stabilizing financial and real estate markets.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.137-148
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• 2021

The study investigates the existence of an optimal level of cash and the firm characteristics influencing the decision to hold cash, and the adjusting speed of the cash holdings to the target level. It highlights the heterogeneity of cash adjustment speed in the Vietnam market. The research employs the 417 samples of Vietnamese non - financial listed firms in the period of 2010 to 2019. The study uses the Pool OLS model, Fixed effect model (FEM), Random effect model (REM), and GMM model. According to the research findings, there is an optimal amount of cash at which the firm's value is maximized in Vietnamese listed firms, and the majority of the firms in the sample retain cash over the target level. Furthermore, the study demonstrates that firms actively modify their cash holdings to the optimal level with an adjustment speed of less than one owing to adjustment cost constraints. This speed varies between groupings of enterprises with different characteristics, underlining the heterogeneity of the adjustment speed even more. Small deviation firms adjust more rapidly than large deviation firms. Large free cash flow (FCF) firms adjust more readily than small FCF firms, and fiscal deficit firms modify more rapidly than firms with a financial surplus.

• East Asian Economic Review
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• v.26 no.3
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• pp.179-204
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• 2022

This study examines the extent to which policy-based loans to SME exporters affect their export performance (the intensive margin of exports). We also investigate the heterogeneous export effects of policy-based loans that may depend on firm- and industry-specific characteristics, such as credit ratings, debt-to-assets ratios, firm size and age. To do so, we conduct a survey, of 1,000 Korean SMEs, that collect information on firm-level exports and policy-based loans. The main empirical findings strongly support that SMEs that receive policy-based loans tend to increase their export volumes. However, these loans' positive impact on exports are only valid for SME exporters with credit scores of 12 or greater (that is, SMEs that have difficulty accessing the external financial market). The estimation results with respect to SMEs' dependence on external financing imply that policy-based loans for SMEs in sectors that are heavily dependent on external finance are effective in that they are instrumental in increasing these firms' exports. These empirical findings emphasize the importance of the external financial market to SME exporters who face various up-front investments that are related to their exporting activities.

• Economic Analysis
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• v.17 no.2
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• pp.56-89
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• 2011

The sensitivity of investment with respect to cash flow is positive in imperfect financial markets. Using a switching regression model, cash flow sensitivity of investments in chaebol firms and large firms appears to be higher. Also, investments are found to be more responsive to cash flow during monetary contraction periods. These findings imply that monetary policy works through a credit channel. Furthermore, it appears that monetary policy exerts distributional effects as well as aggregate effects on that firms are unevenly affected by monetary changes.