• Title/Summary/Keyword: Local Finance

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Modification of Public-Private Partnership in Japan

  • Kaneta, Takashi
    • International conference on construction engineering and project management
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    • 2017.10a
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    • pp.153-158
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    • 2017
  • Procurement system of public construction projects in Japan is changing with diversity in rapid pace. The quality assurance and risk management of construction projects should be more certain as the projects are turning into larger scale and more complexed. The clients in the public sector will want to make the relation of responsibility among the client, the designer (architects and engineers), and contractor clearer in terms of role and risk. Public-Private Partnership (PPP) is one of the methods for collaboration of the public sector and the private sector in public construction projects where the public utilizes the ability and suggestion of the private. Private Finance Initiative (PFI), Design-Build-Operate (DBO), market testing, designated manager system, outsourcing of tasks in local governments are well-known as examples of PPP in Japan. Indeed, there is an obvious trend that Design-Build (DB) is adopted in public construction projects in many countries including Japan. In this paper, the public construction projects in various procurement systems are surveyed and analyzed. They are not limited within the traditional procurement, Design-bid-Build, a separate order system of design and construction. Design-Build or PFI are adopted. In particular, contract by wide range including maintenance of equipment can be found. On the other hand, modification from originally typical PFI is taking place, such as concept design and project finance are removed from the roles and the tasks of the special purpose company (SPC) in PFI. Standard roles and tasks in a construction project are modeled in this paper.

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How Destination Image Factors Affect Domestic Tourists Revisit Intention to Ba Ria-Vung Tau Province, Vietnam

  • GIAO, Ha Nam Khanh;NGAN, Nguyen Thi Kim;PHUC, Nguyen Pham Hanh;TUAN, Huynh Quoc;HONG, Ha Kim;ANH, Huynh Diep Tram;NHU, Duong Thi Huynh;LAN, NgoThi
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.6
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    • pp.209-220
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    • 2020
  • This research examines the affect of destination image factors on revisit intention of domestic tourists at Ba Ria Vung-Tau (BRVT), by questioning directly 510 domestic tourists. The convenient sampling method is used in dividing the crowds into four groups; the four main surveyed areas in BRVT are: Vung Tau, Long Hai-Phuoc Hai, Xuyen Moc and Con Dao. A combination of qualitative and quantitative methodologies were utilized.A focus group of 10 domestic tourists wasset up to review and explore the variousfactors as well as the conceptual model. An in-depth interview with 12 participants was developed to fine-tune measurement items. The questionnaire applied a 5-point Likert scale. Checking the reliability by Cronbach's Alpha, exploratory factor analyzing and linear multiple regression were used with the SPSS program. The results show that there are eight main destination image factors affecting domestic tourists revisit intention to BRVT using linear regression and arranged by decreasing importance: Infrastructure, Variety Seeking, Accessibility, Local food, Atmosphere, Environment, Price Value, Leisure and Entertainment. From that, the research offers some suggestions and policy recommendations for the tourism business and provincial policy-makers to identify the main issues and develop better customer services to increase domestic tourists'revisit intention.

Analysis on the Efficiency of Social Welfare Facility in Local Governments (지방자치단체 사회복지시설 운영의 효율성 분석)

  • Ko, Dong-Won
    • The Journal of the Korea Contents Association
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    • v.11 no.9
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    • pp.238-245
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    • 2011
  • For introduction of local autonomy system, local government enabled efficient supply of public service by local resident's request. Specially, local governments is doing effort of that organize various policy and a lot of budgets for social welfare promotion, but is interested relatively little in efficient use of social welfare finance and operation. According to these problem, this study measured efficiency of social welfare facility in local governments. The purpose of this analysis is to measure the efficiency of community welfare in local governments by data envelopment analysis(DEA), using data from 16 local governments in Korea. Input variance is GDP per capita in local, rate of welfare budget, rate of financial independence and local public official per 10,000 capita. Output variance is social welfare facility per 100,000 capita and park area per 1,000 capita, The results of the study are summarized as follows : First, There was differential in efficiency about social welfare facilities operation in local governments. 7 local governments(Busan, etc.) was an in efficiency. Second, some local governments(Incheon, etc.) must increase scale of input variance, and some local governments(Busan, etc.) must improve efficiency of input variance.

Analysis on Changing Perceptions of Local Residents after Casino Establishment in GangwonLand (강원랜드 카지노설립 이후 지역주민들의 인식변화에 대한 분석)

  • Lee, Ok-Dong;Choi, Jeong-Il;Bang, Gueg-Taek
    • The Journal of the Korea Contents Association
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    • v.14 no.8
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    • pp.382-393
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    • 2014
  • The purpose of this study is to evaluate level of achieving original policy goals to some degree in a variety of ways, and to provide basic data of establishment for promotion policy of abandoned mine area and furthermore, to contribute to that area and Casino policy research. To attain these sorts of research goals, a case method of study is employed to evaluate achievement of policy goals based on goal achievement model, and to survey satisfaction levels of the people of abandoned mine district based on stakeholder model. The local finance scales of those counties have been increased with local revenue enhancement. KangwonLand actively contributed to corporate social responsibility but it didn't actually help the local people. Most residents in that area negatively rate for the change of "the quality of life". By an itemized list, natural environment, local pride and expectation of future are relatively high, while participation of policy, increase in economic effects, relation of neighbor were lowest. and thus, we need to look for ways of improving the quality of life.

Impact of Community Attachment and Resident's Support on Destination Sustainability: Evidence from Spiritual and Community Destination in Vietnam

  • THAN, Trong Thuy;KIEU, Thi Phuong Hoa;PHAM, Thi Anh Duong;HOANG, Thi Cam Van;TRAN, Thi Hau;NGUYEN, Huu Doan;DAO, Trung Kien
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.8
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    • pp.361-369
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    • 2020
  • This study investigates the influence of community involvement on the destination sustainability for community destinations and spiritual destinations in Vietnam. Community involvement is measured by two constructs, which are community attachment and residents' support. A structural questionnaire consisting of 41 observation variables measured on a 5-point Likert scale was used to survey households who live in a spiritual destination in An Giang province and three community destinations in Lang Son province with the help of local tour guides and Youth Union. 168 out of 200 responses collected were valid for multivariate data analysis. The results of confirmatory factor analysis (CFA) and structural equation modeling (SEM) reveal three main findings. Firstly, community attachment has a direct effect on both perceived benefits and destination sustainability. Secondly, while residents' support has a direct effect on perceived benefits, it indirectly affects destination sustainability. Finally, community destinations have a higher level of sustainability than the spiritual destination. Based on those findings, this study proposed three suggestions for local authorities, policymakers, and residents to improve the sustainable development of their local tourism destinations, including (1) diversifying local tourism products, (2) encouraging the community participation in tourism development programs, and (3) increasing in the expected benefits in local tourism development policies.

The Effects of Fiscal Decentralization on Social Overhead Capital Investment (재정분권화가 사회간접자본 투자에 미치는 영향)

  • Kim, Yong-Wook
    • Journal of the Korean Regional Science Association
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    • v.34 no.1
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    • pp.19-30
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    • 2018
  • Social overhead capital(SOC) is an essential element for society to be developed and operated normally. In spite of the increase in the importance of SOC, It is difficult to present the criteria for the appropriate investment of SOC. and The discussion on making SOC investments of local government is insufficient. If the local autonomy has been guaranteed, local government increases investment in regional public goods that residents prefer. Reflection of such residents preferences is the driving force to bring the efficiency of resource allocation in the decentralization theorem. In this study, the authority and autonomy of local governments are measured through local finance. and the decision-making of local governments for SOC investment is examined in point of decentralization theorem. In the empirical analysis, the elasticities of fiscal resources are estimated for facilities(road, water and sewage, irrigation canal and flood control) that local governments are involved in investment. These decisions made by metropolitan cities and provinces were different. The difference was most evident in the effect of per capita local tax on investment. These results show that metropolitan cities and provinces that have different situation made investment decisions differently. It shows that local governments reflect the preferences of the residents in making an investment. The main implication of this study is as follow. In case the role of local government in social overhead capital investment is increased, the increase in efficiency of resource allocation occurs. and The fiscal resources must be raised by local taxes rather than the financial resources from the central government.

An Analysis of Association between Local Festival Evaluation and Visitor Satisfaction: A Case Study of the Local Festival Events in the period of 2012 to 2014 (지역 축제 평가결과와 만족도 간의 관련성 분석: 2012-2014년 축제를 사례로)

  • Joh, Chang-Hyeon;Kim, Jin Whi;Baek, Jin Hwi;Ahn, Byeong Min;Rha, Yun Hyung
    • Journal of the Economic Geographical Society of Korea
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    • v.18 no.4
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    • pp.492-504
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    • 2015
  • The evaluation of the local festival events that supports promising local festivals needs to well reflect the degree of success of the local festival events that have been implemented. Many local governments of the country have competitively implemented local festival events, some of which turned to be a success, while others not. This alerts the need for investigating whether the evaluation of the local festival events is appropriate, in order to better execute the provincial finance. The paper investigates this using the data of cultural tourism festivals from 2012 to 2014. More specifically, the paper first examines the relationships between choice dimensions (festival success index) and visitors' satisfaction, and then identify whether visitors' satisfaction and festival evaluation results are significantly correlated. This after all indicates whether the festival success index are well reflected in the festival evaluation results. The findings tell that choice dimensions well explain the visitors' satisfaction, whereas the visitors' satisfaction does not have a significant correlation with the festival evaluation results. This potentially implies that the current scheme of the local festival evaluation needs more rigorous validity test and additional research and practice for the improved evaluation protocol.

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The Effects of Local Cultural and Sports Resources on Urban Growth (지역 내 문화체육자원이 도시성장에 미치는 영향 연구)

  • Kwak, JungHyun;Seo, Wonseok
    • The Journal of the Korea Contents Association
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    • v.16 no.6
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    • pp.706-716
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    • 2016
  • This study aims at finding impact of cultural and sports characteristics on urban growth. For the empirical analysis, this study uses unique urban resources associated with four categories (Social, Traffic, Cultural and Sports, and Spatial characteristics) among 228 cities and towns using a semi-log multiple regression analysis. The result shows that various local resources have significant impacts on urban growth in terms of population, industry, and fiscal self-reliance ratio. Impressively, cultural and sports resources are relatively beneficial for the urban growth. For the population and industrial growth, expanding public sports facilities and professional sports facilities can be more efficient. For solid local finance, typically focusing on professional sports facilities that have far-reaching ripple effects are useful. The conclusion for this study shows that urban growth policy should prioritize the cultural and sports resources because it can be more effective way to enhance not only for urban growth but also for quality of citizens' life.

Groping for Growth Strategy of Savings Bank as a result of signing the Korea-U.S. FTA (한.미 FTA 체결에 따른 저축은행의 성장전략 모색)

  • Lee, Hyun-Sik
    • International Commerce and Information Review
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    • v.10 no.3
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    • pp.265-290
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    • 2008
  • Domestic industries are facing the open era as a result of signing the Korea-U.S. FTA with no exception to the financial industry. The FFA between two countries is expected to produce pros and cons for domestic financial industry. Therefore, it is very important to minimize the shock caused by opening our financial market and to adopt the advanced financial tools actively. Signing the Korea-U.S. FTA and enforcing the Integration Law of Capital Market are leading a big crisis to the Savings Banks which have been shrinking under the dramatically changing domestic financial environment since the financial crisis. To cope with financial globalization, Korean Savings Banks are demanded to build up their concrete identity and reposition their status. This is related to shaping the long-term position of domestic financial industry. Therefore, the Savings Banks must take the growth strategy for their survival, and it is an inescapable choice. Several options are available: big scale operation and diversification of business functions, reinforcement of local-focused mediating function of funds, establishment of strategic alliance with other financial firms, reinforcement of risk management system and core competence, nourishment and employment of professional manpower, and active deregulation and policy support. When the Savings Banks are refurbished as an independent local bank performing the central role of local finance, the bright future can be their destiny under the enormously changing global financial environment. Also, two more conditions need to be satisfied: to establish horizontal networks among local banks directed by cooperative Korea Federation of Savings Banks to reverse the weak scale position, and to satisfy their own peculiar niche market with internal countermeasure to face global financial networks.

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A Comparative Study on Welfare Level for the Persons with Disabilities using Multidimensional Scaling and Cluster Analysis (다차원척도법과 군집분석을 활용한 시도별 장애인복지수준 비교연구)

  • Seo, Dong-myung
    • Korean Journal of Social Welfare Studies
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    • no.36
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    • pp.81-101
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    • 2008
  • The purpose of this study is to analyze characteristics of welfare level for the persons with disabilities in Korean local governments. The study adopted multidimensional scaling and cluster analysis. Based on prior studies and comparative importance research, three indicators were extracted from the welfare circumstance index for the disabled. They are the ratio of the registered disabled population, the ratio of the disabled household in poor households, the ratio of dependence on public finance. Also, nine dimensions and twenty seven indicators were extracted from the welfare level index. The dimensions are as follows : Education, income & economic activities support, welfare services infra-structure, health & welfare service support, movement convenience & safety, rights protection, culture, leisure & information accessibility, welfare administration & budget for the disabled. The findings from the welfare circumstance index show that local governments are divided into three groups and all indicators are statistically significant. On the other hand, the findings from the welfare level index, show that local governments are divided into four groups and five indicators are statistically significant. Based on these findings, the study proposes improvement in the disabled welfare level, and balanced development of local governments.