• Ocean and Polar Research
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• v.33 no.4
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• pp.473-483
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• 2011

In the recent WTO/DDA negotiations, discussions are progressing to forbid fishery subsidies which have negative effect on the natural environment and the fishery resources and to lower or to eliminate the tariff/non-tariff barriers that distort trade liberalization. As a result, linking to the weak structural environment of Korea's fishing villages; such a scheme has jeopardized the livelihood of fishermen who settle down in local fishing harbors. Against this backdrop, the government is attempting to positively respond to changes in the fishing environment in a number of different ways: promotion of fishing tourism, fishing harbor reinforcement in function, developing fishing villages, and harbors. With respect to investment by priority in fishing harbor development, it is very important to appropriately select investment targets based on objective criteria. A small number of harbors are chosen and investment plans by harbor are systematically devised, economic feasibility and the effects of investment are analyzed and reviewed in relation to each target harbor. This paper is designed to review and assess objective evaluation methods and the degree of importance for the designation of target harbors, dealing with local harbors in Chung Nam Do as a model. Each local government has tried to reorganize existing harbors and develop new harbors, considering a fall in the number of fishing vessels and the expansion of maritime leisure activities. In order to overcome the limit of existing harbors in function, to raise the income of fishermen, and to activate tourism, they have shifted their focus from simple functions such as vessel evacuation and anchoring to harbor beautification, which can work as a basis for fishing tourism. This paper points out that the AHP analysis method for prioritizing local harbors in Chung Nam Do should help to be chosen target harbors in other cities and provinces. Each local government has attempted to reorganize existing harbors and to develop new harbors, taking into consideration the decline in the number of fishing vessels and the expansion of maritime leisure activities. In order to overcome the limited number of functional harbors, to raise the income of fishermen, and to boost tourism, they have shifted their focus from simple functions, such as vessel evacuation and anchoring, to harbor beautification, which can work as a basis for fishing tourism. This paper shows that the AHP analysis method for prioritizing local harbors in Chungcheongnam-do could aid in the effective selection of target harbors in other cities and provinces.

• Management & Information Systems Review
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• v.34 no.2
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• pp.151-169
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• 2015

Social enterprises that are solving pressing global issues and providing services such as micro-finance, affordable housing, appropriate technology and education for the 'bottom of the pyramid' as well as cultural and community-related businesses that improve the 'quality of life' within a society are the target of impact investments. Among them, a capital financing is one of the most important factor in founding and fostering of social enterprise. However, the capital market for social enterprises in South Korea are not yet sufficiently developed. The Britain and U.S.A. attempted to solve the social problem by the introduction of the social innovation credit model, for example, social impact bonds(SIB), Big Society Capital, DBLIF, and ACCION International, which are considered as an innovative new financing instrument for social program. Instruments are being attempted for the first time in Britain and America. This study have two purposes. The first purpose is abstracting the institutional mechanism for introduction of impact investment such as SIB and DBLIF case in Britain and U.S.A.. Second, analyzing type and mix of policy instrument on impact investment from the perspective of policy instrument.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5465-5475
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• 2013

In this study, when to invest in real estate abroad, to present a real option in the way of decision-making. Thus, by using the binomial option model of one of the real thing and DCF, we compared the choice of real estate investment in China and South Korea. Research concerns the real estate market of Shanghai and Seoul, Analyzed the data between 2001-2009. Results were calculated NPV investment period (Net Present Value), Seoul appears in 435.44, Shanghai was 398.26. Investment decision by NPV method will select Seoul. However, as a result of calculating the value using the real option, it was found that for Seoul appear in 615.4, Shanghai has been shown to 626.1, and is suitable for investment in Shanghai. Assuming on the basis of this, that it has invested in practice, and compare the results, Seoul is intended for since 2010, real estate prices fell to 2013 currently, damage has occurred, profit's occurred Shanghai. This ensures that when making decisions in real estate investment and to use the real option than the existing DCF is appropriate.

• Information Systems Review
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• v.10 no.3
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• pp.133-153
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• 2008

Understanding of the length of time required to realize the return on the investment of informatization is important for policy makers and decision makers of information system adoption. Previous researchers, however, assessed this issue with the performance measurement approach that was primarily based on static point of view. However, the static analysis on the outcome of the informatization investment is limited in measuring the priori and ex ante effects of the informatization implementation on temporal basis. This study present a methodology to capture the outcome of the informatization investment on dynamic basis. This assessment was performed based on an e-government project in Korea, called "Industry Human Resource Project." Particularly, the study addressed how long it takes to obtain the benefit of WorkNet System, which was part of this Korean e-government project. We proposed various approaches to illustrate the importance and temporal effect of the WorkNet System by analyzing DB data, time reduction of WorkNet business processes and return of investment of IT.

• Journal of the Economic Geographical Society of Korea
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• v.10 no.3
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• pp.245-262
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• 2007

This paper aims at analyzing the characteristics of performance and asset management system of listed property trusts(LPT) in Australia, and elucidating the implications for Korean real estate indirect investment market. The main results of this paper are as follows. Firstly, LPT have a leading position among the real estate indirect investment systems in Australia, through the rapid growth of market capitalization. Secondly, LPT achieved superior risk adjustment performance than other financial products, and had valid portfolio diversification effect. Thirdly, many LPT have used stapled securities structure as a asset management system, and stapled LPT revealed superior risk adjustment performance than unit LPT. Finally, implications and policy measures such as using the stapled structure and activating the development activities were examined for the development of Korean real estate indirect investment market.

• Industry Promotion Research
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• v.5 no.3
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• pp.45-51
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• 2020

This study analyzed the influence of investment and fostering support on gross regional product by utilizing big data using multiple regression analysis. Gross regional product (GRDP) is an index that intensively contains the production scale, expenditure level, income level, and industrial structure of each region, and is an important data used for regional economic analysis and national policy establishment. In order to properly carry out the country's major national tasks, it is necessary to accurately grasp the regional economy, and as a result, interest in regional gross domestic product is rapidly increasing. In particular, foreign investment has a significant impact on the economy of the host country, and many empirical analyzes are being conducted. In this study, correlation analysis and multiple regression analysis were conducted to examine the influence of foreign investment and domestic development support on gross regional product, and as a result, it was concluded that investment and support as a whole had a positive effect on gross regional product.

• Smart Media Journal
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• v.9 no.3
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• pp.130-141
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• 2020

The drone market in Korea is growing with a focus on the use of prevention, defense, exploration and surveying, search and rescue, video shooting, and facility management. However, the foreign dependence on drone's core technologies and components is high. Drone-powered countries such as the US and China are expanding the weaponization of drones, which can intensify trade wars between countries, such as strengthening import and export regulations and monopoly. Therefore, Korea should put R & D and localization of core technology, parts, and accessories of next generation drone first. For this, policy research and investment in infrastructure, equipment, and research personnel should be preceded. This study studied the evaluation of investment priorities by infrastructure sector (facility equipment, utilization field, and demand manpower) to foster small drone companies through literature studies. To this end, we expanded and reclassified e isting research, developed investment prioritization indicators through expert group interviews and reviews, derived future uncertainties, and selected investment priorities by infrastructure sector using AHP techniques. Finally, it proposed an infrastructure construction strategy to foster small drone companies in terms of drone development support, utilization support.

• Journal of Digital Convergence
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• v.17 no.2
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• pp.73-80
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• 2019

This study analyzed the relevance between investment horizons of foreign investors and Book-Tax Difference. To do this, we measured investment horizons of foreign investors as the investment-turnover of foreign investors. We use the sample of 3,025 firm-year Korea listed companies belonging to non-financial corporate sector during 2011-2016. The results of empirical analyses show that investment horizons of foreign investors has a negative relevance with Book-Tax Difference. This result indicates that the firm have a long-term foreign investors has a good Accounting Earning's Quality than the firm have a short-term foreign investors. This study is expected to provide useful information by suggesting the need for more incentive for the long-term foreign investors. And Our Study has a contribution that this study extended prior research on foreign investors by utilizing investment horizons of foreign investors.

• Journal of Digital Convergence
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• v.17 no.6
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• pp.43-49
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• 2019

The study divided the life cycle of Chinese companies into three stages from 2011 to 2017, 3,750 small and medium-sized enterprises(SME) used disclosure data to analyze the intensity of R&D investment by company life cycle. The analysis showed that the impact of wealth(ROA) on the performance of R&D investment(RDS) and the next(t) business performance, and research and development investments had a different impact on the company's performance depending on the life cycle of the company. The results of this study are expected to help determine the amount of expenditure related to R&D investment and the time of input of resources in consideration of industrial characteristics and corporate characteristics when making strategic decisions related to R&D investment of companies.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.33-69
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• 2014

We investigate determinants of fund investment flows using Korean equity investment funds. Unlike previous studies which analyzed net-flows (inflow minus outflow), we analyze fund investment inflows and outflows separately that should properly reflect investors' fund selection and redemption decision. We find similar effects of past return, fund age on net-flows to existing studies based on US market data. The analysis of determinants of inflows shows that inflows are related to past return, fund age and sales fee as net-flows. In contrast, outflows are found to behave quite differently from inflows. Apparently, asymmetry exists between fund investment inflows and outflows at the Korean fund selection market. Specifically, high past returns increase fund investment inflows while increase, rather than decrease, fund outflows. Moreover, 'convexity' is detected both in inflows and outflows: higher past returns accelerate outflows as well as inflows. Effects of sales fee also differ between inflows and outflows. In the 'affiliated' fund sample, sales fee is negatively related to inflows while positively related to outflows. In the 'unaffiliated' fund sample, sales fee is positively related to inflows, but no significant relationship exists with outflows. Empirical findings of this paper imply that the rational investor's fund selection view cannot provide a consistent explanation of the Korean fund selection market. In particular, the positive and convex relationship between past returns and fund outflows is inconsistent with the rational investor view. The fact that investor's fund investment appears to display 'disposition effect', which has been reported by studies of individual investors' stock investment behaviour suggests that the behavioral finance view should be a part of explanation for the Korean fund selection market. In addition, the strikingly different patterns between the 'affiliated' funds and the 'unaffiliated' funds, imply that brokers' incentive structure is another prevailing factor for fund investment flows.