• 대한안전경영과학회지
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• 제15권4호
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• pp.7-16
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• 2013

As workplace incidents has been being declining in Korea, there is criticism of the effectiveness of occupational safety policy implementation. It is unknown that which policy target group needs to be targeted to yield effective injuries prevention. The purpose of this paper is to analyze and reveal the policy intervention group with a high priority in terms of industrial incident prevention and the related investment cost. A Policy Priority Model(PPM) is composed of 6 indicators regarding influences of both the incident reduction and the cost reduction. Z-score analyses are used to confirm the high policy priority area or policy target group. Overall, workplace with worker below 50 persons, construction site with the sales of more than a hundred million won, workplace with relatively small percentage of female employees and relatively higher percentage of older worker should be prioritized to reduce workplace injuries. This paper provides an analytic way that can be used to decide the policy priority workplace in order not only to reduce work-related injuries&illnesses and the related investment cost but to further lessen the related societal costs.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.9-18
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• 2019

The purpose of this study is to investigate the relation between conservative loan loss accounting practice of banks, defined as accounting behavior that increases loan loss allowances against expected credit losses, and bank lending. Furthermore, we specify the macroeconomic conditions reflecting debtors' borrowing environments and analyze how these conditions affect the relation between conservative loan loss allowances and bank lending. Although existing literature reports that accounting conservatism has a direct effect on non-financial firms' investment behavior, there is little evidence about an effect of conservatism on banks' lending behavior. By exploiting data showing the links between individual Japanese firms and their individual lenders to control both loan demand and supply, we estimate OLS regressions to test the relationships among conservative loan loss allowance, bank lending, and macroeconomic conditions using a unique dataset containing bank-firm-year observations between 2001 and 2013. We find banks that have conservative loan loss allowances tend to provide fewer loans to firms with financing needs when macroeconomic conditions are good and these conservative banks are likely to provide more loans to firms when macroeconomic conditions are bad. Our findings suggest that reflecting expected credit loss into loan loss allowances can mitigate the procyclical behavior of banks.

• 한국안전학회지
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• 제17권1호
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• pp.68-71
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• 2002

A research on accident loss calculation for polyol process without safety management activities, and safety cost estimation using process risk assessment has been implemented. In order to estimate a magnitude of loss, accident scenarios were made by combining result made from HAZOP Study method with accident possibility analysis results implemented with FTA. Also effect assessment was implement for accident consequence of each scenario. And minimum possible loss cost has been calculated when safety investment do or not. Result from cost-benefit analysis was shown as approximately \335 billion(=USS44,000 billion), as cost after subtracting safety management cost from minimum possible loss cost.

• Communications for Statistical Applications and Methods
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• 제17권4호
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• pp.575-589
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• 2010

Exponential L$\acute{e}$evy models have become popular in modeling price processes recently in mathematical finance. Although it is a relatively simple extension of the geometric Brownian motion, it makes the market incomplete so that the option price is not uniquely determined. As a trial to find an appropriate price for an option, we suppose a situation where a hedger wants to initially invest as little as possible, but wants to have the expected squared loss at the end not exceeding a certain constant. For this, we assume that the underlying price process follows a variance-gamma model and it converges to a geometric Brownian motion as its quadratic variation converges to a constant. In the limit, we use the mean-variance approach to find the asymptotic minimum investment with the expected squared loss bounded. Some numerical results are also provided.

• 조명전기설비학회논문지
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• 제14권3호
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• pp.77-80
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• 2000

본 논문은 有無效 섣둡jJ設觸의 投貴위치와 그 용향을 적정화하여 동일한 설비투자량에 대하여 전력손실을 최소화하는 방안에 대하여 설명하였다. 유효 및 무효전릭의 미소증분에 대한 손실의 변화를 나타내는 모선의 손실감도를 소개하고 전력송실을 최대한 개선하기 워한 유무효전력 설비의 투자지표로 이용하였다. 각 모선에 주어지는 투자지표의 우선순위에 따라 유효 및 무효전력설비가 투자되어 전력손실을 최소화한다.

• 디지털산업정보학회논문지
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• 제6권1호
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• pp.151-157
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• 2010

This paper proposes the Pyramid strategy which is based on the straddle sell. The Pyamid strategy has multi-entry features with starting date and delta parameters. And It is hedged against a loss by mutual trades and dynamic ripples. This paper analyzes the profit and MDD(maximum draw down) of the Pyramid strategy on system trading. The portfolio tool is used for the experiment which is one of the Multicharts' package. The Multicharts is a good trading system of recent years. For the experiment, three call options and three put options are used at october in 2009. Two parameters are used which are the starting date from first October to twentieth October in 2009 and delta from eight percent to fifty percent. As a result, the profit of composite option is about 3 million won. If the strategy starts before the beginning of option month, investors feel uncomfortable because of a large MDD. If a delta belows 20%, it shows high profit and the ratio of profit and MDD builds up a low value. However a low delta makes frequent trades and results in a loss unless increasing entry levels which mean more amount of investment. This work provides a safer trade system than native option trades. It is important how much levels of multi-entry are acceptable. And an amount of investment with appropriate levels of multi-entry is a subject of a future study.

• 한국건설관리학회논문집
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• 제11권6호
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• pp.54-64
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• 2010

기업은 이익창출을 위해 자본과 비용을 투입하고 재무적 타당성을 분석하여 투자의 가부를 결정한다. 일반적으로 실물자산의 투자가 창출하는 현금흐름은 투자분석시의 결과와는 달리 불확실하게 변화하고 실물자산이 내포한 여러 경영상의 유연성이 유발하는 비대칭수익구조도 사업의 가치에 영향을 미친다. 실물자산의 투자가 수반하는 다양한 경영상의 유연성들 중, 경영진이 특정 기간 동안 투자를 지연할 수 있는 투자지연의 의사결정은 시장에서 새로운 정보가 유입되면 합리적인 대응을 가능케하여 사업의 가치를 증가시키는 것으로 알려져 왔으나 투자시기의 결정에 관한 연구는 부족해왔다. 그러므로 본 연구는 투자지연이 유효한 실물자산의 투자에서 합리적인 투자시기의 결정을 위해 투자지연에 의한 사업가치의 증분과 손실회복비용을 옵션 가격결정 및 관련 금융 경제이론에 기반하여 추정하고 이를 수학적 변분원리를 이용하여 최적의 투자시기 탐색을 위한 이론 모델을 구성 한 후 부동산 실물자산인 REITs(Real Estate Investment Trusts)의 사례에 적용 및 분석함으로써 실물자산의 투자시기 결정을 위한 이론적인 틀을 제시하고자 한다.

• 경영과학
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• 제12권1호
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• pp.111-124
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• 1995

With the increasing interest of reducing process variation, statistical process control has served the pivotal tool in most industrial quality programs. In this study, system analyses have been performed associated with a cost incorporated version of a process control, a quadratic loss-based X over bar control chart model. Specifically, two issues, the capital/research investments for improvement of a system and the precision of a parameter estimation, have been addressed and discussed. Through the analysis of experimental results, we show that process variability is seen to be one of the most important sources of loss and quality improvement efforts should be directed to reduce this variability. We further derive the results that, even if the optimal designs may be sensitive, the model appears to be robust with regard to misspecification of parameters. The approach and discussion taken in this study provide a meaningful guide for proper process control. We conclude this study with providing general comments.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2000년도 추계학술대회 논문집 학회본부 A
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• pp.6-9
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• 2000

This paper presents the detailed derivation of optimal nodal price for active power to regionally evaluate system loss and congestion cost. The method is to decompose them into different components corresponding to system loss, transmission congestion, voltage constraint, and so on. The decomposed information for nodal price can be used to provide economic signals for generation or transmission investment as well as to improve the efficient usage of power grid and congestion management. The result of case study on IEEE 30 bus system is reported to illustrate the proposed method.

• 대한산업공학회지
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• 제39권5호
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• pp.429-439
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• 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.