• Korean Journal of Construction Engineering and Management
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• v.4 no.3 s.15
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• pp.76-84
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• 2003

The bankruptcy possibility of construction firms have been higher by the environment of current construction industry. Thus, converting management environment for growth into that for value or profit is required. Nowadays, funds of construction firms is almost provided by financial institutions. As the firms' size grow, they have a form of fund provision through the securities market; however, fair distribution for returns is not practiced by opening company. Especially, construction firms lost trust of Investor by lack of awareness to firm clearness, and then a vicious cycle of no effectiveness in fund provision through securities market is continued again. On this study correlation between stock quotations and primary financial factors of firms in order to grasp actual management condition in construction firms was analyzed. By this, the correlation between stock quotations and the result of firm management was provided. Also, necessity of firm's capital provision was explained, thus ways to ensure firm clearness was searched.

• New & Renewable Energy
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• v.18 no.3
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• pp.43-59
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• 2022

The green premium is the most important feature of Korea's RE100 system. Green premium has three characteristics. The first, the cost of implementation is lower than that of other means of implementation. The second, it is linked with the RPS system to keep the means of implementing the green premium low. Third, the funds raised by the green premium are used to supply renewable energy to compensate for the additionality that the green premium does not have. When the entire industrial sector's electricity consumption is converted to renewable energy, the implementation cost of the green premium is estimated to be 3,377.4 billion won, and the REC purchase is estimated to incur the implementation cost of 6,576.4 billion won, which is 3.5 trillion more than the green premium. It was analyzed that an additional implementation cost of KRW 100 million would occur. In addition, in the case of solar PPA, it was analyzed that additional implementation costs of KRW 13,375.7 billion to KRW 16,162.3 billion were incurred. It was estimated that the renewable energy that could be supplied to the green premium would at least be sufficient for companies exporting to the US and EU. In addition, it was analyzed that when the fund created as a green premium is used for renewable energy supply, about 30.7% of the renewable energy supply through PPA can be supplied. However, as ESG is emphasized, green premium can be criticized by green washing because there is no additionality. There is also a limit to responding to the EU's CBAM. Therefore, companies can use the green premium depending on the situation, but it is more advantageous to use PPA, etc. The government needs to sufficiently maintain the supply of renewable energy using the fund to maintain the green premium.

• Journal of the Korean association of regional geographers
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• v.18 no.1
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• pp.101-117
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• 2012

The purpose of this research is to propose a plan on migration policy based on features, through analyzing the migration adaption process and the farming life of the back-to-countryside population throughout the nation. For this, survey has been conducted to find out urban-to-rural migrants' motives and characteristics. The major reason for the migration was the household's financial condition, and the most of migration decisions were made by either one's spouse or parents. The migration fund was primarily spent in early agricultural activities and it was the neighbors who aided them the most whilst teaching them many farming techniques. Some government-supported policies are being highly demanded regarding the lower level of income (than urban life) and difficulties of raising cultivation funds; these two things are what migrants consider as the most inconvenient and suffering matters in farming life. Many surveyee have responded that they would constantly stay in the rural area and continue on their life as a farmer, giving a promising prospect for future farmland life. Based on these trends and features, development strategy regarding elaborate settlement plan of urban-to-rural migration is necessary.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.1-16
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• 2021

The purpose of this study is to examine how the Korean government has intervened in the venture capital market so far and empirically investigate whether the government's policies on venture capital have stimulated venture capital's early-stage investment. To this end, this study classified the government's market intervention in the venture capital market by stage by studying the related literature and applying and analyzing the case in Korea. And, this study empirically analyzed the effectiveness of the Korean government's policy to revitalize the early-stage investment of venture capital, which is the most important purpose of government intervention. For empirical analysis, yearly data from 2004 to 2018 provided by the Korea Venture Capital Association and Korea Fund of Funds were analyzed using time series statistical analysis and macrodynamics. As a result of the case study, the Korean government has intervened in the venture capital market through direct investment for 25 years, and has been intervening through indirect investment for the next 18 years. As a result of time-series statistical analysis, the government's fiscal investment to increase the formation of venture capital funds and the increase in the ratio of special-purpose funds that mandate a certain percentage of early-stage investment increased the early-stage investment of venture capital. However, macrodynamics showed a trend in the opposite direction from this time series statistical analysis from 2016. In conclusion, this study interprets the trend in the opposite direction to the time series statistical analysis results as the government's erroneous regulation on the venture capital investment method and the recent lack of effectiveness of direct intervention through the government's indirect investment method. In addition, based on the results of case studies and empirical studies, this study made six policy proposals necessary for indirect government intervention.

• Journal of Korea Technology Innovation Society
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• v.18 no.1
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• pp.98-125
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• 2015

This study will show the determinants of research productivity by fields in science and engineering. However, we present the differences between fields by personal attributes, research resources, and research productivities. The data includes 1,383 researchers who participated in the BK21 PLUS program during 2010-2012. The fields are physics, chemistry, biology, mechanics, electricity and electronics and chemical engineering. As for research productivity, 3 indices are used such as the number of papers publicized, patents and combination of papers and patents. As for explanation factors, two kinds of variables are used. The personal factors include sex, age, academic rank, location of affiliation, and country of PhD acquisition, and the resource factors are the number of graduate students, 3 types of research funds such as government fund, industrial fund and overseas fund. This study is unique in several aspects; Dealing with 3 productivity indices, and using massive official data, 6 different fields, and determinants of research productivity. The results are as follows; 1) there is a big difference in determinants by fields. 2) No variables affect the research productivity of all the fields at the same time. 3) In science, the number of determinants are quite low than engineering. 4) The ratio between papers and patents are different by fields. 5) The correlations between paper and patent by fields are different; no relationship in the field of physics and chemistry and positive relationship in the other 4 fields.

• Journal of Information Technology Applications and Management
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• v.27 no.6
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• pp.153-170
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• 2020

The Educational Restitution Rate is an important parameter that determines the quality of university education. This paper analyzed data from 148 private universities over the 10 years from 2009 to 2018 using data mining techniques in Korea. A significant causal relationship is detected in the fixed effect model as a result of the panel estimation. And the scale of faculty expansion and fund management, which are the university evaluation indicators, and the size of basic funds, respectively, have a positive effect on the ERR, which is within the confidence interval. In the analysis, the more private universities improve the tuition dependence rate, the more decisively positive affecting ERR. As a result of nonparametric regression estimation, when the faculty expansion ratio is reinforced, the effect of economies of scale is detected in some sections, the improvement of the tuition dependence rate, and the result value is generated through the improvement that results are derived at a certain point in time. We hope that the university based on this study can be a basic Indicators for the diagnosis of basic competencies and policy of student-centered education.

• Asian Journal of Business Environment
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• v.10 no.2
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• pp.23-31
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• 2020

Purpose: The purpose of this paper is to find out the impact of financial leverage on firm's profitability in the listed textile sector of Bangladesh. Research design, data and methodology: A sample of 22 DSE listed textile firms has been used to conduct the study. In this study, firm profitability is measured by Return on Equity (ROE) and both short term debt and long term debt are used as the as proxies of financial leverage. Pooled Ordinary Least Squares (OLS), Fixed Effect (FE), and Generalized Method of Moments (GMM) models have been used to test the relationship between financial leverage and profitability of firms. Result: This study finds a significant negative relationship between leverage and firm's profitability using the Pooled OLS method. The result is also consistent with the fixed effect and GMM method. This result implies that firm's profitability is negatively affected by the firm's capital structure. Conclusion: The study concludes that maximum textile firms use external debt as a source of finance as they don't have sufficient internally generated funds. This study recommends that firm should give more emphasize on generating fund internally to meet up their financing needs.

• Korean Management Science Review
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• v.32 no.1
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• pp.15-33
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• 2015

Under complete information, introducing additional constraints to a portfolio will have a negative impact on performance. However, real-life investments inevitably involve use of error-prone estimations, such as expected stock returns. In addition to the reality of incomplete data, investments of most Korean domestic equity funds are regulated externally by the government, as well as internally, resulting in limited maximum investment allocation to single stocks and risk free assets. This paper presents an investment framework, which takes such real-life situations into account, based on a newly developed portfolio selection model considering realistic constraints under incomplete information. Additionally, we examined the effects of additional constraints on portfolio's performance under incomplete information, taking the well-known Samsung and SK group stocks as performance benchmarks during the period beginning from the launch of each commercial fund, 2005 and 2007 respectively, up to 2013. The empirical study shows that an investment model, built under incomplete information with additional constraints, outperformed a model built without any constraints, and benchmarks, in terms of rate of return, standard deviation of returns, and Sharpe ratio.

• Korea Journal of Hospital Management
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• v.9 no.3
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• pp.18-48
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• 2004

Health policies in many countries have come under critical scrutiny in recent years. This is because of increasing national health expenditures. Also many persons in health sector have been the perception that resources allocated to health services are not always deployed in an optimal fashion. And they believe that the scope of resources in health services is limited, there is need to search for ways of using existing resources more efficiently. A further concern has been the desire to ensure access to healthcare of various groups on an equitable basis. In some European countries this has been linked to a wish to enhance patient choice and to make service providers more responsive to consumers, while Korea integrated health insurance funds into single fund in 2000. Many European countries are under considerable pressure to review and restructure their health care systems. There are several reasons of pressure to reform. There are demographic changes, pattern of disease change, advances in medical sciences will also give rise to new demands within the health services, public expectations of health services are rising as those who use services demand higher standards of care. These circumstances require the change of health care delivery system based on hierarchical regionalism, which was basis of health care delivery since 1920s. Korea is also under similarly pressure to restructure our own health care systems. We will have good learning from OECD experiences. In this paper we reviewed and compared among OECD countries' various experiences.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.195-210
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• 2020

This study describes the structure of the capital markets for small- and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.