• Title/Summary/Keyword: Future Return

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A Study on Cost-Benefit analysis for Geographic Information Systems in Local Governments (지자체 GIS사업을 위한 비용효과분석 연구)

  • Kim, Eun-Hyung;Lee, Hyun-Soon
    • Journal of Korea Spatial Information System Society
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    • v.2 no.2 s.4
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    • pp.59-74
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    • 2000
  • Because efficiency of the 1st-phase NGIS investment(1995-2000) has not been clearly measured, the action taken in the 2nd-phase NGIS project requires NGIS budgets to be evaluated in terms of effectiveness. Especially, the effective investments in local governments are critical for the NGIS projects, because they execute the much larger amount of budgets in total than other GIS projects. As indicated, for the successful NGIS implementation, it is important to obtain continuous political and financial supports from decision makers. As a persuasion measure for the budget appropriation, CBA(Cost-Benefit Analysis) and CEA(Cost-Efficiency Analysis) can play an important role for the decision makers. The major concern of this paper is how to measure the costs and benefits of the GIS implementation by considering important characteristics of the GIS projects in local governments, and existing theories are reviewed for this concern. The GISs in local governments can have different stages in terms of its evolution and the effectiveness of the applications can be represented variously. To identify categories for measuring costs and benefits of the various GISs, case studies and success stories are reviewed from both the foreign and domestic research. The categories of costs and benefits are determined from the tangible and intangible aspects. The categories for the quantitative and qualitative measure are proposed to evaluate the GISs in local governments. After measuring costs and benefits, three key evaluation methods in cost-benefit analysis are suggested as follows: 1) the benefit: cost ratio (B/C), 2) Internal Rate of Return (IRR), and 3) the net present values (NPV) of the costs and benefits. The sensitivity and uncertainty analysis are also helpful to make a decision for the GIS budget appropriation in local governments. In conclusion, although cost-benefit analysis is not an easy undertaking, it is certain that it can play an important role in the future for the GIS funding decisions in local governments.

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An analysis on geomorphic and hydraulic characteristics of dominant discharge in nam river (남강의 지배유량에 대한 하도지형 및 수리 특성 분석)

  • Kim, Ki Heung;Lee, Hyeong-Rae;Jung, Hea Reyn
    • Journal of Korea Water Resources Association
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    • v.49 no.2
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    • pp.83-94
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    • 2016
  • Geomorphological, bed material and hydraulic characteristics are basis informations for the planning, design and management of the river in the aspect of flood control and environmental conservation, and it is very important to use these informations for the design of stable channel. In this study, dominant discharge was selected, geomorphological and hydraulic characteristics were analyzed using that discharge and also the characteristics of bed materials distribution were analyzed and bed materials-flow resistance relationship was evaluated, for the upstream section of Namgang dam. The dominant discharge was estimated a return period of approximately 1.5 year and stream type were classified Segment 1 and Segment 2 in this stream. Also, the frequency of riffle-pool showed 4.4 because this study area has the characteristics of natural channel that have not channel-crossing structures. In dominant discharge, according to the results that analyzed relationship between $h/d_{50}$ and $V/u_*$ to calculate flow resistance by bed materials, Julian's formula showed to appropriate in channel where is relatively close to natural river and is predominantly consisted of gravel, cobble, boulder and rock in mountain, and it was confirmed that the image processing methodology will be easily applied to the analysis of bed materials distribution in future.

The Development and Application of Office Price Index for Benchmark in Seoul using Repeat Sales Model (반복매매모형을 활용한 서울시 오피스 벤치마크 가격지수 개발 및 시험적 적용 연구)

  • Ryu, Kang Min;Song, Ki Wook
    • Land and Housing Review
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    • v.11 no.2
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    • pp.33-46
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    • 2020
  • As the fastest growing office transaction volume in Korea, there's been a need for development of indicators to accurately diagnose the office capital market. The purpose of this paper is experimentally calculate to the office price index for effective benchmark indices in Seoul. The quantitative methodology used a Case-Shiller Repeat Sales Model (1991), based on actual multiple office transaction dataset with over minimum 1,653 ㎡ from Q3 1999 to 4Q 2019 in the case of 1,536 buildings within Seoul Metropolitan. In addition, the collected historical data and spatial statistical analysis tools were treated with the SAS 9.4 and ArcGIS 10.7 programs. The main empirical results of research are briefly summarized as follows; First, Seoul office price index was estimated to be 344.3 point (2001.1Q=100.0P) at the end of 2019, and has more than tripled over the past two decades. it means that the sales price of office per 3.3 ㎡ has consistently risen more than 12% every year since 2000, which is far above the indices for apartment housing index, announced by the MOLIT (2009). Second, between quarterly and annual office price index for the two-step estimation of the MIT Real Estate Research Center (MIT/CRE), T, L, AL variables have statistically significant coefficient (Beta) all of the mode l (p<0.01). Third, it was possible to produce a more stable office price index against the basic index by using the Moore-Penrose's pseoudo inverse technique at low transaction frequency. Fourth, as an lagging indicators, the office price index is closely related to key macroeconomic indicators, such as GDP(+), KOSPI(+), interest rates (5-year KTB, -). This facts indicate that long-term office investment tends to outperform other financial assets owing to high return and low risk pattern. In conclusion, these findings are practically meaningful to presenting an new office price index that increases accuracy and then attempting to preliminary applications for the case of Seoul. Moreover, it can provide sincerely useful benchmark about investing an office and predicting changes of the sales price among market participants (e.g. policy maker, investor, landlord, tenant, user) in the future.

Optimal Design of Breakwater Caisson Considering Expected Total Construction Cost and Allowable Sliding Distance (기대 총 건설비 및 허용 활동량을 고려한 방파제 케이슨의 최적설계)

  • Kim Kyung-Suk;Suh Kyung-Duck
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.17 no.4
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    • pp.280-293
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    • 2005
  • In this study, a model to calculate the expected total construction cost has been developed by combining a model to calculate the sliding distance of a caisson of a vertical breakwater and a model to calculate the rehabilitation cost of a caisson. The optimal cross-section of a caisson of a vertical breakwater is defined as the cross-section that requires a minimum expected total construction cost within the allowable limit of caisson sliding. Two allowable limits are considered: 0.1 m of the expected sliding distance during the lifetime of the breakwater and 0.1 of the probability that the cumulative sliding distance during the lifetime of the breakwater is greater than 0.3 m. A discount rate has also been introduced to convert the future rehabilitation cost to the present value. The introduction of the discount rate reduces the expected total construction cost for the caissons designed for shorter return periods due to frequent rehabilitations. The present design method requires a smaller cross-section than the conventional deterministic method in shallow water depths, enabling us to design a caisson more economically. On the other hand, the above-mentioned allowable limits of caisson sliding show similar results for smaller water depths, while, for larger depths, the former requires a larger cross-section than the latter.

A Study on the Application of Generalized Extreme Value Distribution to the Variation of Annual Maximum Surge Heights (연간 최대해일고 변동의 일반화 극치분포 적용 연구)

  • Kwon, Seok-Jae;Park, Jeong-Soo;Lee, Eun-Il
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.21 no.3
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    • pp.241-253
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    • 2009
  • This study performs the investigation of a long-term variation of annual maximum surge heights(AMSH) and main characteristics of high surge events, and the statistical evaluation of the AMSH using sea level data at Yeosu and Tongyeong tidal stations over more than 30 years. It is found that the long-term uptrends based on the linear regression in the AMSH are 34.5 cm/34 yr at Yeosu and 33.6 cm/31 yr at Tongyeong, which are relatively much higher than those at Sokcho and Mukho in the Eastern Coast. 71% and 68% of the AMSH occur during typhoon's event in Yeosu and Tongyeong tidal stations, respectively, and the highest surge records are mostly produced by the typhoon. The generalized extreme value distribution taking into account of the time variable is applied to detect time trend in annual maximum surge heights. In addition, Gumbel distribution is checked to find which one is best fitted to the data using likelihood ratio test. The return level and its 90% confidence interval are obtained for the statistical prediction of the future trend. The prevention of the growing storm surge damage by the intensified typhoon requires the steady analysis and prediction of the surge events associated with the climate change.

The study on the capacity of synchronous CDMA return link for a Ka band satellite communication system (Ka 대역을 사용하는 동기화 CDMA 위성 시스템 리턴링크의 수용용량에 관한 연구)

  • 황승훈;이용한;박용서;황금찬
    • The Journal of Korean Institute of Communications and Information Sciences
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    • v.23 no.7
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    • pp.1797-1806
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    • 1998
  • Future satellite communication systems will be developed at Ka-band (20/30 GHz) owing to the relatively wide frequency allocation and current freedom from terrestrial interference for multimedia services. A serious disadvantage of the Ka-band, however, is the very high atmospheric attenuation in rainy weather. Synchronous CDMA drastically redces the effect of self-noise with several interesting features of CDMA for mobile communications such as fixible freuqncy rese, the capability of performin soft-handover and a lower sensitivity to interference. This paper evaluates the performance of a synchronous CDMA reture link for a Ka-band geostationary satellite communication system. For a fixed satellite channel whose characteristics depend on weather conditions, the signal envelope and phase for this channel is modelled as Gaussian. The bit error and outage probability, and the detection loss due to imperfect chip timing synchronization is analytically evaluated and the system capacity degaradation due to the weather condition is estimated. The two cases consist of the general case in which all users are affected by rain condition, and the worst case in which the reference user is only affected by rain attenuation. the results for two cases of rain condition clearly show that synchronous CDMA eases the power control requirements and has less sensitivity to imperfect power control.

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The Comparative Law Research On The Mandatory Control About Illegal Foreign Workers in China (중국의 불법체류 외국인근로자에 대한 법적 규제에 관한 비교법적 연구)

  • Noh, Jae-Chul
    • The Journal of the Korea Contents Association
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    • v.14 no.9
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    • pp.236-246
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    • 2014
  • Most countries have been promoted the legislative policy for the legal employment, causing a social conflicts by illegal immigrants in any countries. Despite the efforts to alleviate the illegal aliens, there are not nearly enough successful cases, and encounter a social problem about illegal stay worker. China is no exception. At present, the issue of China's foreign illegal employment is expected to be a social problem in the present and the future. However, the legislative policy against immigration control law and illegal foreign employment in China is very neglectful. There is a lack of adjusting rule of law on illegal foreign workers in China, and the remedy is also insufficient. It is necessary to secure a legal right for the protection of the Rights of illegal foreign workers based on the international norms. For this purpose, the illegal foreign workers related law should be enacted, and based on this, administration should be strengthened. The trend of major countries of illegal aliens is centered around an employer hiring strictly regulated. There is a need to have a strengthen regulation on the employer rather than the foreign workers in China. To this end, employer who hire illegal foreign workers should be required to receive considerable disadvantages such as penalties and fines, prison sentences, as well as various kinds of burdens and repatriation costs. It is necessary to run the voluntary repatriation(Freiwillige $R\ddot{u}ckehr$) program of illegal immigrants, and there is a need to take action for illegal immigrants who voluntary return home within a certain period are exempt from penalty. In conclusion, China must push ahead with a direction of positive policy in related ministries rather than sit on its hands on the wrong choice or a confusion of an employer and foreign workers with a policy on illegal foreign residents in limbo.

The Impact of Retailer‘s In-store Tactics on Store Performance in case of Variety Enhancer and Fill-ins Categories (다양성 추구용과 구색용 카테고리에 대한 소매입체의 점포 내 전술 실행이 점포성과에 미치는 영향)

  • Chun, Dal-Young;Kwon, Ju-Hyoung
    • Journal of Distribution Research
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    • v.10 no.4
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    • pp.1-22
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    • 2005
  • The major objectives of this study are twofold. The first is to discover which in-store tactics influence store performance when a retailer implements category management in variety enhancer and fill-ins categories. The second is to analyze how and why specific in-store tactics achieve better or worse performance than other in-store tactics across categories. The data were collected using scanner data and direct observations in 'A' discount store which is one of the representative discount stores in Korea. The in-store tactics were measured by product assortment, temporary price discount, price and non-price promotion, and shelving. The store performance was measured by sales and gross margin return on inventory investmant(GMROI). Empirical results analyzed by multiple regression were as follows: In variety enhancer category, the significant factors affecting sales were product assortment, temporary price discount, price promotion, and shelving. Non-price promotion also influenced GMROI positively but product assortment impacted on GMROI negatively. In fill-ins category, the significant factors affecting sales and GMROI were product assortment and shelving. However, the other factors such as temporary price discount, price promotion, and non-price promotion had no significant influence on both sales and GMROI. This paper presents a number of theoretical and managerial implications of the empirical results and concludes by addressing limitations and future research directions.

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Effects of Consumer Co-creation on Consumer Attitude: Moderating Roles of Consumer Motivation (공동가치창출 경험이 소비자 태도에 미치는 영향: 소비자 동기의 조절효과를 중심으로)

  • Son, Jungmin;Kang, Wooseong;Kang, Seongho
    • Journal of Distribution Science
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    • v.13 no.12
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    • pp.105-111
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    • 2015
  • Purpose - Many global companies across industries are paying significant attention to co-creation activities, which enable consumers to participate in firms' value creation process, as a main model of new product development processes. In this study, we aim to examine different types of co-creation activities and their effects on consumer attitudes. We focus on upstream co-creation, downstream co-creation, autonomous co-creation, and sponsored co-creation. Upstream co-creation includes firms' control and management in the initial stage of new product development and prototype testing. Downstream co-creation indicates that consumers participate in firms-initiative activities at a later stage in new product development, such as public relations and marketing communications. Autonomous co-creation includes consumers' commitment activities in the absence of firms' rewards. However, under the sponsored co-creation, consumers can return monetary and social rewards from firms through their co-creation activities. The hypotheses regarding the effect of co-creation on consumer attitudes are as follows. (H1, H2, H3, H4) Upstream, downward, autonomous, and sponsored co-creation has positive effects on consumer attitude. (H5, H6) As intrinsic motivation increases, the positive effect of upstream and autonomous co-creation increases. (H7, H8) As extrinsic motivation increases, the positive effect of downward and sponsored co-creation increases. Research design, data, and methodology - To achieve our research goals, we analyzed responses from 246 samples from Korean consumers and verified the proposed hypotheses using a linear regression model. The samples include Korean consumers who experienced upstream, downstream, autonomous, and sponsored co-creation by firms. Results - First, both upstream co-creation and downstream co-creation with firms and consumers are found to have positive effects on consumer attitudes. Second, autonomous co-creation and sponsored co-creation are found to positively affect consumer attitudes. Third, consumers' intrinsic motivation has a fit-effect between upstream co-creation and autonomous co-creation, and their extrinsic motivation has a fit-effect between downstream co-creation and sponsored co-creation. Consumers who have strong intrinsic motivation are affected by upstream co-creation and autonomous co-creation. However, consumers who have strong extrinsic motivation are affected by downstream co-creation and sponsored co-creation. Conclusion - These results indicate that the fit between consumers' co-creation participation types and consumers'motivations is a significant factor in determining consumer attitudes. The results of this study imply that various types of consumer participation actually improve consumers' attitudes toward products and brands. In addition, our study also suggests that firms should consider the fit between co-creation types and consumers' motivations when they initiate co-creation activities. In this study, we survey consumers who participated in firms' co-creation activities. Future studies can compare different types of consumers. For instance, we can examine the different in different test by comparing experienced versus inexperienced consumers. Finally, we expand this research to user-generated content topics. This attending issue focuses on the mechanism that breaks down the boundaries and barriers between consumers and producers.

Creative Project and Reward Based Crowdfunding:Determinants of Success (창의적 프로젝트와 후원형 크라우드펀딩: 성공요인)

  • Chun, Hesuk
    • The Journal of the Korea Contents Association
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    • v.15 no.5
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    • pp.560-569
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    • 2015
  • Crowd funding is the method of raising money for a project, companies from a large group of people via the Internet, in return for future products or equity. Kickstarter is the largest and most successful crowdfunding site where creative projects raise reward based funding. Drawing on dataset of 80,267 projects with combined funding over $1.3b from 8.1m people, this paper suggest that backer select project based on their preference on the project, instead profitability of the project. It suggests that well-established platform and big size of network increases the chance of success of the project due to a ripple effect and blockbuster effects. Clear communication about the project's idea and goal is highly correlated with success. Regular communication on the project site, such as by constant progress updates, helps the success of the project. Equity-based crowdfunding is emerging as an innovative means of raising capital for businesses, so it has been receiving a lot of attention and expectation from the government and the market. The findings of this paper and others will help to get some understanding and insight into equity-based crowdfunding. However, Kickstarter differs from equity-based crowdfunding in the goals of the backers. Kickstarter's backers are not investors, they are contributors. To understand equity-based crowdfunding, the subject will need further study.