• Journal of Forest and Environmental Science
• /
• v.18 no.1
• /
• pp.61-72
• /
• 2001

The study was carried out to investigate the surroundings and benefit analysis on the planting investment of Thailand for securing a stable supply of timber through overseas planting, The results show that Thailand government is planing to increase the coverage of forest from 25% to 40%, encouraging planting over the country. More advantages and incentives are given in the investments in planting and wood-processing industries such as plywood, veneer, and chip & hard board, etc. In Thailand Eucalyptus species which are most popular in planting as they are lucratively used as a material of pulp. The Internal rate of return (IRR) in the study was ranged from 29.1 % to 59.3.

• Korean Journal of Computational Design and Engineering
• /
• v.21 no.3
• /
• pp.267-280
• /
• 2016

In the construction industry, adoption of BIM is a global tendency whereas it doesn't seem to be fully activated in domestic market. Thus, the need of BIM ROI measurement is emerging. There has been a few researches which is only focused on evaluating achievement of BIM in constructional stage. However, it's hard to find any studies on the case of measurement of BIM ROI at the design phase. Therefore, this paper analyzes the domestic and external 12 advanced researches in the measurement of BIM ROI and suggests common investment and return facts. Based on this, this paper proposes a measuring method which is applicable in domestic architectural firms. To determine the appropriateness of the measure, there has been an expert survey and interview. According to the expert survey, the measure itself is practical. But in other survey targeting industry employee, actual profit and efficiency appear to be significantly different from previous expectations. In short, in the domestic conditions in the design stage, the introduction of BIM doesn't have a practical effect and this is one of the main reason why BIM can't be fully functional.

• Journal of Information Technology Applications and Management
• /
• v.13 no.1
• /
• pp.17-38
• /
• 2006

Recently, ASP business models based on Web services are attracting considerable attention and regarded as the next generation of the ASP business models. It is, however, undesirable for ASP users to adopt them simply because the Web services are the new trend in the IT world. Instead, an in-depth comparison of the benefits against the costs between the Web services based ASP business models and the traditional models are required. Furthermore, it is desirable that this comparative analysis should be applied from the ASP users' viewpoints rather than those of the government or ASP providers. So, we have applied a comparative ROI (Return on Investment) analysis from the ASP users' perspective and shown that the Web services based ASP business models (382%) are superior to the traditional models (280%) in terms of ROI. We have also employed Balanced Scorecard (BSC) framework to keep the balance between tangible and intangible benefits considering the characteristics of IT value measurement.

• The Journal of Korean Institute of Communications and Information Sciences
• /
• v.37 no.1C
• /
• pp.17-23
• /
• 2012

RFID(Radio Frequency IDentification) is now being applied in the lots of fields as an alternative of barcode system. However, it is restricted within product manufacturing, sales, and delivery parts. In this paper, research results regarding an actual progress of an RFID-based system and its effect are described. In addition, this paper confirms that the RFID-based process of manufacture gives much better return of investment than the barcode-based one. Therefore, the results of this paper are highly expected to contribute to make many people, who might hesitate to replace the barcode and apply RFID system to the process of manufacture, a positive decision.

• Journal of Agricultural Extension & Community Development
• /
• v.28 no.4
• /
• pp.167-174
• /
• 2021

This study analyzed the feasibility of custom work service to deal with the imbalance of farm labor supply due to population aging. The economic feasibility analysis is based on the case of Bonghwang-myeon in Naju-si, where the majority of farm work is entrusted to local agricultural cooperative. To assess the project profitability and economic feasibility based on the projected cash flow for the next ten years, Return On Investment (ROI), Net Present Value (NPV), and Internal Rate of Return (IRR) of the projects were calculated. The results showed that ROI is estimated at 13.7%, and NPV and IRR are KRW 1,504,932,000 and 15.6%, respectively, with a discount rate of 4.5%, indicating a good enough profitability. Furthermore, a sensitivity analysis with government support as part of an assumption showed that without the support, NPV turns negative, implying that the project is not profitable, and that government support for at least 30% of the cost is needed to secure the economic feasibility of a project. Hence, to promote agricultural work entrustment, it is necessary for the government to partly support the agricultural machinery and facility costs, which require a considerable amount of initial investment.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.8
• /
• pp.311-324
• /
• 2021

Investors have increasingly become interested in macroeconomic antecedents in order to better understand the investment environment and estimate the scope of profitable investment in equity markets. This study endeavors to examine the interdependency between the macroeconomic antecedents (international oil price (COP), Domestic gold price (GP), Rupee-dollar exchange rates (ER), Real interest rates (RIR), consumer price indices (CPI)), and the BSE Sensex and Nifty 50 index return. The data is converted into a natural logarithm for keeping it normal as well as for reducing the problem of heteroscedasticity. Monthly time series data from January 1992 to July 2019 is extracted from the Reserve Bank of India database with the application of financial Econometrics. Breusch-Godfrey serial correlation LM test for removal of autocorrelation, Breusch-Pagan-Godfrey test for removal of heteroscedasticity, Cointegration test and VECM test for testing cointegration between macroeconomic factors and market returns,] are employed to fit regression model. The Indian market returns are stable and positive but show intense volatility. When the series is stationary after the first difference, heteroskedasticity and serial correlation are not present. Different forecast accuracy measures point out macroeconomics can forecast future market returns of the Indian stock market. The step-by-step econometric tests show the long-run affiliation among macroeconomic antecedents.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.43 no.4
• /
• pp.229-235
• /
• 2020

Investors aim to maximize the return rate for their own investment, utilizing various information as possible as they can access. However those investors, especially individual investors, have limitations of interpretation of the domain-specific information or even the acquisition of the information itself. Thus, individual investors tend to make decision affectively and frequently, which may cause a loss in returns. This study aims to analyze analysts' target price and to suggest the strategy that could maximize individual's return rate. Most previous literature revealed that the optimistic bias exists in the analysts' target price and it is also confirmed in this study. In this context, this study suggests the upper limit of target rate of returns and the optimal value named 'alpha(α)' which performs the adjustment of proposed target rate to maximize excess earning returns eventually. To achieve this goal, this study developed an optimization problem using linear programming. Specifically, when the analysts' proposed target rate exceeds 30%, it could be adjusted to the extent of 59% of its own target rate. As apply this strategy, the investors could achieve 1.2% of excess earning rate on average. The result of this study has significance in that the individual investors could utilize analysts' target price practically.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.3
• /
• pp.275-283
• /
• 2022

This study aims to investigate the influence of internal factors on the bankruptcy risk of an enterprise through a sample of 439 companies listed on the Vietnamese stock exchange. The research collected secondary data from annual audited financial statements from 2008 to 2019 of listing companies. Using two different regression models with two dependent variables, six independent and control variables, we discovered that three of the model's six factors, namely return on total assets, current payment rate, and financial leverage, influence the risk of bankruptcy and account for 86.78% of the variations in firm bankruptcy risk. Financial leverage has the opposite effect on the Z-score index, increasing the risk of bankruptcy of listed firms. Return on total assets and current ratio have a positive impact on the Z-score index, reducing the risk of bankruptcy of listed companies. The findings also revealed that there is no evidence that the size of a corporation, its fixed asset investment ratio, or the size of an auditing firm have an impact on the Z-score index. These findings provide crucial evidence for business owners and managers, as well as shareholders making future capital investment decisions. Our findings can be applied to other businesses in Vietnam and similar jurisdictions.

• Korean Journal of Construction Engineering and Management
• /
• v.23 no.1
• /
• pp.83-88
• /
• 2022

Companies make decisions with risks such as choosing an investment plan in order to pursue profits. This study explained the decision making of the management of construction companies in South Korea using the tendency to avoid losses in the Prospect Theory. To this end, 20-year financial data of 2,881 companies engaged in real estate development, which have to bear the greatest risk among the construction industry, were collected. The collected companies were roughly classified based on the reference point, and the causal relationship between average return on equity and risk preference by group was empirically analyzed through regression analysis. As a result, it was confirmed that if the average return on equity of a company decreases for the group above the reference point, it tends to select an investment plan with low uncertainty in order not to lose additional money. In addition, it was confirmed that if the average return on equity of a company decreases for the group below the reference point, it tends to select an investment plan with high uncertainty to move to the profit area. This result is exactly consistent with the loss aversion tendency of the Prospect Theory.

• Management & Information Systems Review
• /
• v.27
• /
• pp.31-52
• /
• 2008

Intangible Assets are more important determinants of firm value than others in a digital information-based economy(Lev, 2001). Prior research reveals that investments in intangible assets such as R&D and advertising expenditures are associated with firm value. This paper examines the effects of the corporate investments in the information technologies(IT) on stock return and economic goodwill. The sample consists of 152 firms listed on the Korean stock market in 2002. To test hypothesis We employed multiple regression models. Results are as follows; First, IT environment, IT process, and IT human resource are positively associated with firm's IT value. Second, firm's IT value is positively correlated with firm's economic goodwill. Third, firm's IT value is positively correlated with firm's stock return. These results suggest that the investments related with IT are effective in cultivating firm's value and Stock investors can make the best use of firm's announcements related with IT value. Thus the authorities concerned need to expand the public announcements related IT value.