• Journal of the Korea Safety Management & Science
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• v.3 no.4
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• pp.135-144
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• 2001

The capital cost of the company is one that must be paid to the money owner as the price by using the money. The capital cost according to the source of money supply can be estimated by the expected profit rate undertaken by the use of the capital. But in the area of pre-existent economic evaluation, the evaluation of the company investment has been treated by the profit rate of the capital after considering the repayment conditions of the other's money or the interest. Thus in this study, in case the company makes an investment on various kinds of the capital at the same time, not make use of the capital as a one source, the economic evaluation of an investment should be handled by taking the weighted average cost of capital into consideration in proportion to the constitution of the capital cost by the sources of money supply, Especially, as the cost of the private money is very much connected with the profit rate through the stock market, the Capital Asset Pricing Model (CAPM) will be applied. This kind of economic evaluation method can be said to have much to do with the Economic Value Added : EVA) as well as to be highly thought as a standard to estimate the company' value recently To certify the usefulness of this approach, the case study of the output of the capital cost will be made for the purse of the economic evaluation of the alternative investment by using the financial statements of a motor company H.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.281-287
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• 2020

In capital budgeting practices, investment project evaluations based on the net present value (NPV) and the internal rate of return (IRR) represent the traditional evaluation techniques. Compared with the traditional methods, the modified internal rate of return (MIRR) gives the opportunity to evaluate an investment in certain projet, while taking the changes in cash flows over time and issuing shares such as dividing shares, bonuses, and dividend for each end of the investment year into account. Therefore, this study aims to evaluate an investment in the Malaysian construction sector utilizing financial data for 39 public listed companies operating in the Malaysian construction sector over the period from Jan 1, 2007, to December 30, 2018, based on the MIRR method. Stochastic was studied in this study to estimate the estimated probability by applying the Markov chain model to the MIRR method where the transition matrix has two possible movements of either Good (G) or Bad (B). it is found that the long-run probability of getting a good investment is higher than the probability of getting a bad investment in the long-run, where were the probabilities of good and bad are 0.5119, 0.4881, respectively. Hence, investment in the Malaysian construction sector is recommended.

• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.2
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• pp.83-95
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• 2014

In this paper, we develop a portfolio selection model that can be used to invest in markets with margin requirements such as the foreign exchange market. An investment algorithm to implement the proposed portfolio selection model based on objective historical data is also presented. We further conduct empirical analysis on the performance of a hypothetical investment in the foreign exchange market, using the proposed portfolio selection model and investment algorithm. Using 7 currency pairs that recorded the highest trading volume in the foreign exchange market during the most recent 10 years, we compare the performance of 1) the Dollar Index, 2) a 1/N Portfolio which equally allocates capital to all N assets considered for investment, and 3) a hypothetical investment portfolio selected and managed according to the portfolio selection model and investment algorithm proposed in this paper. Performance is compared in terms of accumulated returns and Sharpe ratios for the 10-year period from January 2003 to December 2012. The results show that the hypothetical investment portfolio outperforms both benchmarks, with superior performance especially during the period following financial crisis. Overall, this paper suggests that a mathematical approach for selecting and managing an optimal investment portfolio based on objective data can achieve outstanding performance in the foreign exchange market.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.876-882
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• 2009

With overall opening of global construction market by World Trade Organization (WTO) agreements, importance of management efficiency of construction industry which considers both tangible and intangible assets is recently being recognized in our nation. That is, efforts for reinforcement of competitiveness must be placed through maximization of values of internal and external intangible assets of construction industry such as management innovation, information, investment in technology and R&D and intellectual property. Accordingly in this study, evaluation criteria for intangible assets of construction industry were investigated and classified. Using such criteria, evaluation index and model were established based on the degree of importance of each criterion. The purpose of this study is to review importance of intangible assets in terms of competitiveness and management efficiency of construction industry and to provide basic data for establishment of intangible assets and revitalization of investment.

• Journal of Information Technology Services
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• v.14 no.4
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• pp.105-120
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• 2015

Enterprise should determine the adoption and utilization of information systems would be a great help to increase management performance. So, it maintains continually the budget and the investment for informatization. However, there is a limit to clarify whether the investment in informatization is contributed to create business opportunities through corporate competitiveness certainty or not. We tend to recognize the information system as a simple means to support common business rather than being used to achieve the company's business performance and to remain competitive. It is not an easy problem for the quantitative evaluation and analysis on the effect of intangible, such as management performance measurement by introducing computerization project. Informatization level evaluation model for the harsh business environment, specifically the Small and Medium Enterprise is lacking. In this paper, we proposed the audit evaluation model of an Small and Medium Enterprise informatization level based on system quality, information quality, user satisfaction, and IT business contribution. The proposed audit evaluation model was evaluated in the information system users, and verified the suitability throughout the survey of the audit professionals.

• International Journal of Computer Science & Network Security
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• v.23 no.2
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• pp.39-46
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• 2023

The purpose of this study is to introduce a proposed Framework for Evaluating the Return on Investment (ROI) of E-Learning Programs at Saudi Universities. To achieve this goal, the descriptive analysis methodology is used to analyze the literature review about e-learning and its evaluation from different viewpoints, especially from the ROI-related perspective. As well as the literature reviews related to ROI and the methods of calculating it inside society institutes. This study suggests a conceptual framework for evaluating the ROI of E-Learning Programs at Saudi Universities. This framework is based on the merging process among the analyze, design, develop, implement, and evaluate (ADDIE) model for designing e-learning programs, which gives detailed procedures for executing the program, several evaluating models for e-learning, and the Kirkpatrick model for evaluating the ROI of e-learning. It consists of seven stages (analysis, calculating the costs, design, development, implementation, calculation of the benefits, and calculation of the final ROI).

• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.3
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• pp.155-163
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• 2009

We develop a probability model to evaluate information security investment portfolios. We assume that organizations install portfolios of information security countermeasures to mitigate the damage such as loss of the transaction being processed, damage of hardware and data, etc. A queueing model and Its expected value analysis are used to derive the lost cost of transactions being processed, the replacement cost of hardwares, and the recovery cost of data. The net present value for each portfolio is derived and organizations can select the optimal information security investment portfolio by comparing portfolios.

• Proceedings of the Korean Society of Computer Information Conference
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• 2014.07a
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• pp.101-102
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• 2014

Results of Investment mean not results of procedure but the final goal of an organization. That is to say, results focus on success or failure of investment. So, cost effectiveness means financial cost that is affected in order to attain the output of organizational goal. Many enterprises are investing in developing and redeveloping various projects of information systems. But, it is not generally considered to check values with monitoring and evaluating their projects. We propose a new value model for information systems investment.

• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.2
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• pp.1-17
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• 2015

In this paper, we propose a portfolio selection model utilizing a Markov chain for investing in the foreign exchange market based on market forecasts and exchange rate movement predictions. The proposed model is utilized to compute optimum investment portfolio weights for investing in margin-based markets such as the FX margin market. We further present an objective investment algorithm for applying the proposed model in real-life investments. Empirical performance of the proposed model and investment algorithm is evaluated by conducting an experiment in the FX market consisting of the 7 most traded currency pairs, for a period of 9 years, from the beginning of 2005 to the end of 2013. We compare performance with 1) the Dollar Index, 2) a 1/N Portfolio that invests the equal amount in the N target assets, and 3) the Barclay BTOP FX Index. Performance is compared in terms of cumulated returns and Sharpe ratios. The results suggest that the proposed model outperforms all benchmarks during the period of our experiment, for both performance measures. Even when compared in terms of pre- and post-financial crisis, the proposed model outperformed all other benchmarks, showing that the model based on objective data and mathematical optimization achieves superior performance empirically.

• Asian Journal of Innovation and Policy
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• v.12 no.2
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• pp.200-215
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• 2023

The purpose of this paper is to analyze the Korean government's investment priorities for the establishment of a supercomputer joint utilization system using AHP. The AHP model was designed as a two-layered structure consisting of two areas of specialized infrastructure, a one-stop joint utilization system service, and four evaluation items for detailed tasks. For the weight of each evaluation item, a cost efficiency index considering the annual budget was developed for the first time and applied to the weight calculation process. AHP analysis conducted a survey targeting supercomputer experts and derived priorities with 22 data that had completed reliability verification. As a result of the analysis, the government's investment priority was high in the order of dividing infrastructure for each Specialized Center and building resources in stages. In the future, the analysis results will be used to select economic promotion plans and prepare strategies for the establishment of the government's supercomputer joint utilization system.