• Title/Summary/Keyword: Investment Decision Factors

Search Result 218, Processing Time 0.026 seconds

The Optimization of the Production Ratio by the Mean-variance Analysis of the Chemical Products Prices (화학 제품 가격의 변동으로 인한 위험을 최소화하며 수익을 극대화하기 위한 생산 비율 최적화에 관한 연구)

  • Park, Jeong-Ho;Park, Sun-Won
    • Journal of Institute of Control, Robotics and Systems
    • /
    • v.12 no.12
    • /
    • pp.1169-1172
    • /
    • 2006
  • The prices of chemical products are fluctuated by several factors. The chemical companies can't predict and be ready to all of these changes, so they are exposed to the risk of a profit fluctuation. But they can reduce this risk by making a well-diversified product portfolio. This problem can be thought as the optimization of the product portfolio. We assume that the profits come from the 'spread' between a naphtha and a chemical product. We calculate a mean and a variation of each spread and develop an automatic module to calculate the optimal portion of each product. The theory is based on the Markowitz portfolio management. It maximizes the expected return while minimizing the volatility. At last we draw an investment selection curve to compare each alternative and to demonstrate the superiority. And we suggest that an investment selection curve can be a decision-making tool.

An Analysis on Weighing the Decision Making Factors of Ship Investments for Korean Shipping Companies (우리나라 해운기업의 선박확보 투자 의사결정요인에 관한 연구)

  • Kim, Sungbum;Jung, Hyunjae;Lee, Hoyoung;Yeo, Gitae
    • Journal of Korea Port Economic Association
    • /
    • v.29 no.2
    • /
    • pp.137-157
    • /
    • 2013
  • Korean shipping industry is ranked the fifth largest in the world in terms of deadweight tonnage after Greece, Japan, Germany and China with 55 million DWT as of year 2011, and its size of foreign exchange earning marked 30 billion US dollars. In respect of volume of seaborne trade, it has handled 99% of import and export cargoes. Korean shipping fleets have increased from 420 to 979 ships between year 2003 to year 2011. By reviewing through the relating literatures, it has been found that Shipping Funds under Ship Investment Company Act, and Tonnnage Tax System, worked as positive influences to increase the Korean shipping fleets. However, there is scant of research to examine the following two points: 1) weighing the decision making factors of ship investments for Korean shipping companies, and 2) weighing the influential factors of government shipping policies. In this respect, the aim of this study is to evaluate 8 decision making factors of ship investments for Korean shipping companies, and 8 influential factors of government shipping policies. For weighing the factors, the fuzzy methodology was adopted. As the results, for the side of decision making factors of ship investments, 'shipping market conditions and future prospects', 'ship's price and future prospects, and 'securing cargoes and future prospects' are ranked as top 3 factors. For government shipping policies side, 'shipping finance provided by lease companies', 'establishment of Korea Shipping Guarantee Fund', and 'establishment of Korea Shipping Finance Corporation' are verified as the important factors.

A Study on Investment Determinants by Investment Size of Startup Accelerators (스타트업 액셀러레이터의 투자 규모별 투자결정요인에 대한 연구)

  • Heo, Joo-Yeun;Jeong, Seung-Hwa
    • Korean small business review
    • /
    • v.43 no.1
    • /
    • pp.187-219
    • /
    • 2021
  • Startup accelerators, a new type of investment entity, have emerged as a way to solve the difficulties of early startups and existing investment methods with high risk. With the visible performances of these startup accelerators on the success of startups, medium and large accelerator companies have emerged, along with the increasing size of seed money they invest in. In addition, differences between small and medium&large accelerator companies are emerging. Therefore, startups need informations on what factors to prepare for attracting startup accelerators' investment. Accelerators also need determinant criteria to select startups as the amount of investment grows. However, the study on this subject is not currently being conducted. Therefore, we conducted the study through dividing the average amount of seed money into small and medium & large-sized investment groups and examined the differences in major investment determinants, investment purposes, and major accelerating programs. As the results of this study, small investment groups could be subdivided into 'consulting-oriented accelerators' and medium- and large-sized investment groups into 'investment-oriented accelerators'. In addition, major services and investment purposes and investment decision criteria vary depending on the size of the investment. I think these findings will be good standards for accelerator companies, startups in need of their help, and follow-up researchers.

A Study on Forecast of Electric Power Generation Mix in the Competitive Electricity Market (전력산업 구조개편 이후 전원구성비율 예측에 관한 연구)

  • Hong, Jung-Suk;Kwak, Sang-Man;Park, Moon-Hee;Choi, Ki-Ryun
    • IE interfaces
    • /
    • v.17 no.3
    • /
    • pp.269-281
    • /
    • 2004
  • How to maintain the optimal electric power generation mix is one of the important problems in electric power industry. The objective of this study is to develop a computer model which can be used to forecast the investment in power generation unit by the plant owners after restructuring of electric power industry. Restructuring of electric power industry will make difference in decision making process of investment in power generation unit. After Privatiazation of Power Industry, Gencos will think that profit is the most important factor among all others attracting the investment in the industry. Coal power generation is better than LNG CCGT in terms of profit. However, many studies show that LNG CCGT will be main electric power generation source because the rest of factors other than profit in LNG CCGT are superior than Coal power generation. The impacts of the various government policies can be analyzed using the computer model, thus the government can formulate effective policies for achieving the desired electric power generation mix.

Case Study : A Real Options Approach to an Overseas Project Finance Deal (사례연구 : 해외 프로젝트 파이낸스 투자 사례와 실물옵션기반 투자 의사결정)

  • Byun, Jinho;Choi, Moon Sub
    • Journal of Korean Institute of Industrial Engineers
    • /
    • v.39 no.5
    • /
    • pp.429-439
    • /
    • 2013
  • The Korean Veterans' Pension Fund has previously pre-purchased Gibril Tower on Business Complex in Dubai, UAE, via a project-financed construction investment. Although the property is near completion, the investor syndicate's attempt to debt-finance due arrears was foiled in Dubai central bank's credit control of real estaterelated loans. Accordingly, the investment coordinator offered an additional capital injection, a collateralized leverage, and a maturity extension to the syndicate. If the syndicate rejects the offer, they may risk a nearcomplete capital loss and a possible default of the main contractor. Otherwise, the syndicate may still face uncertainties regarding interest receivables, principal re-payment, foreclosure, economic recession in Dubai, and the Islamic bond bill in the Korean Parliament. A possible exercise of the latter option may be due to the agency-prone nature of pension fund managers. Given these qualitative risk factors as at April 1, 2011, a real options approach-implied optimal decision suggests an extended and complete cash augmentation into the project finance deal.

Using Real Options Pricing to Value Public R&D Investment in the Deep Seabed Manganese Nodule Project

  • Choi, Hyo-Yeon;Kwak, Seung-Jun;Yoo, Seung-Hoon
    • Asian Journal of Innovation and Policy
    • /
    • v.5 no.2
    • /
    • pp.197-207
    • /
    • 2016
  • This paper seeks to measure the monetary value of technical development in the deep seabed manganese nodule mining by applying the compound option model (COM). The COM is appropriate for the project in terms of its decision-making structure and embedded uncertainty. The estimation results show that the deep seabed mining project has more economic potential than shown by the previously obtained results from the discounted cash flow (DCF) analysis. In addition, it is reasonable to invest in the project taking the various uncertainty factors into consideration, because the ratio of the value to the cost of the project is far higher than one. This information can be utilized in national ocean policy decision-making.

An Analysis of the Effect of the Investment Factors Toward the Information Technology Using IS Theory (IS 이론을 이용한 정보기술 투자요인의 영향력 분석)

  • Son, Dal-Ho
    • Asia pacific journal of information systems
    • /
    • v.9 no.1
    • /
    • pp.99-113
    • /
    • 1999
  • Studies of information technology assimilation have been limited primarily to information technology implementation issues that arise after purchasing and/or developing information technology and applications. Thus there is a need to step back and investigate what motives a manager to implement a information technology for his organization use. The purpose of this paper is to examine decision maker's attitudes and internal beliefs, especially the construct of alienation. This study findings indicate that decision-maker computer knowledge, computer experience, and education level are closely associated with alienated beliefs and attitudes toward information technology. Assuming technologies can provide advantages, these findings point to the need for change agents to minimize alienating beliefs and attitudes.

  • PDF

Trick or Treat? Equity Concerns in the Preliminary Feasibility Study of the Republic of Korea

  • LEE, JONGYEARN
    • KDI Journal of Economic Policy
    • /
    • v.42 no.4
    • /
    • pp.91-116
    • /
    • 2020
  • As a project appraisal tool, the preliminary feasibility study (PFS) has contributed to enhancing the efficiency of public investment decision-making in the Republic of Korea over the last two decades. To overcome the limitations of the efficiency-oriented cost-benefit analysis, the PFS accommodates equity concerns among regions, namely balanced regional development (BRD) analysis. This study attempts to gauge the contributions of BRD analysis to PFS results. Specifically, it addresses how effectively policy efforts to promote decision-making have been implemented in the PFS stage while also considering the balance between equity and efficiency in terms of the trade-off between them, the degree to which they influence the results, and whether the consideration of equity is in fact actually reflected in seriously underdeveloped regions as intended. The study finds that the PFS results over the last two decades have been largely in line with the background and policy objectives. Based on the findings of the study, needs for institutional improvement are suggested, including enhancements in the analysis of regional economic ripple effects and taking into account the psychological factors pertaining to the evaluators in the overall judgment.

Prediction of commitment and persistence in heterosexual involvements according to the styles of loving using a datamining technique (데이터마이닝을 활용한 사랑의 형태에 따른 연인관계 몰입수준 및 관계 지속여부 예측)

  • Park, Yoon-Joo
    • Journal of Intelligence and Information Systems
    • /
    • v.22 no.4
    • /
    • pp.69-85
    • /
    • 2016
  • Successful relationship with loving partners is one of the most important factors in life. In psychology, there have been some previous researches studying the factors influencing romantic relationships. However, most of these researches were performed based on statistical analysis; thus they have limitations in analyzing complex non-linear relationships or rules based reasoning. This research analyzes commitment and persistence in heterosexual involvement according to styles of loving using a datamining technique as well as statistical methods. In this research, we consider six different styles of loving - 'eros', 'ludus', 'stroge', 'pragma', 'mania' and 'agape' which influence romantic relationships between lovers, besides the factors suggested by the previous researches. These six types of love are defined by Lee (1977) as follows: 'eros' is romantic, passionate love; 'ludus' is a game-playing or uncommitted love; 'storge' is a slow developing, friendship-based love; 'pragma' is a pragmatic, practical, mutually beneficial relationship; 'mania' is an obsessive or possessive love and, lastly, 'agape' is a gentle, caring, giving type of love, brotherly love, not concerned with the self. In order to do this research, data from 105 heterosexual couples were collected. Using the data, a linear regression method was first performed to find out the important factors associated with a commitment to partners. The result shows that 'satisfaction', 'eros' and 'agape' are significant factors associated with the commitment level for both male and female. Interestingly, in male cases, 'agape' has a greater effect on commitment than 'eros'. On the other hand, in female cases, 'eros' is a more significant factor than 'agape' to commitment. In addition to that, 'investment' of the male is also crucial factor for male commitment. Next, decision tree analysis was performed to find out the characteristics of high commitment couples and low commitment couples. In order to build decision tree models in this experiment, 'decision tree' operator in the datamining tool, Rapid Miner was used. The experimental result shows that males having a high satisfaction level in relationship show a high commitment level. However, even though a male may not have a high satisfaction level, if he has made a lot of financial or mental investment in relationship, and his partner shows him a certain amount of 'agape', then he also shows a high commitment level to the female. In the case of female, a women having a high 'eros' and 'satisfaction' level shows a high commitment level. Otherwise, even though a female may not have a high satisfaction level, if her partner shows a certain amount of 'mania' then the female also shows a high commitment level. Finally, this research built a prediction model to establish whether the relationship will persist or break up using a decision tree. The result shows that the most important factor influencing to the break up is a 'narcissistic tendency' of the male. In addition to that, 'satisfaction', 'investment' and 'mania' of both male and female also affect a break up. Interestingly, while the 'mania' level of a male works positively to maintain the relationship, that of a female has a negative influence. The contribution of this research is adopting a new technique of analysis using a datamining method for psychology. In addition, the results of this research can provide useful advice to couples for building a harmonious relationship with each other. This research has several limitations. First, the experimental data was sampled based on oversampling technique to balance the size of each classes. Thus, it has a limitation of evaluating performances of the predictive models objectively. Second, the result data, whether the relationship persists of not, was collected relatively in short periods - 6 months after the initial data collection. Lastly, most of the respondents of the survey is in their 20's. In order to get more general results, we would like to extend this research to general populations.

A Study on the Preference Analysis of Apartment Purchaser using AHP Method (아파트 수요자의 선호요소에 대한 AHP 분석에 관한 연구)

  • Chung, J.Young;Yoon, Tae-Kwon
    • Journal of the Korea Institute of Building Construction
    • /
    • v.8 no.3
    • /
    • pp.51-58
    • /
    • 2008
  • The paradigm shift in housing market has changed consumers' interests to the cost of housing, it is the mos important factor considered in purchasing house recently. In this study, some factors influencing on the cost o: housing and some preference factors considered in purchasing house are analyzed. The AHP(Analytic Hierarchy Process) is used to analyze preference factors. The results of this study can be used as a decision maker in the initial planning stage of construction industry.