• The Research Journal of the Costume Culture
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• v.25 no.3
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• pp.359-374
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• 2017

The objective of this study was to compare business management indicators among textiles and fashion companies. Business management indicators of 356 textiles and fashion companies for the year 2015 were analyzed, using income statements showing their management results. The results were as follows. First, there were statistically significant differences between the operating income ratios of textiles and fashion companies for the term, but there were none when it came to net income ratio. Second, the differences between cost of goods sold, cost of finished goods sold, and cost of merchandise sold to sales ratios among textiles and fashion companies were all statistically significant. The cost of goods sold, cost of finished goods sold, and cost of merchandise sold to sales ratios were higher for fiber and thread companies, fabric companies, and dyeing and finishing companies than for clothing and fashion accessories companies. Third, there were statistically significant differences between the ratio of salaries and the ratio of advertising expenses among textiles and fashion companies. The salaries ratios and advertising expenses ratios for clothing companies were higher than those of fiber and yarn companies, fabric companies, and dyeing and finishing companies. This study is meaningful as it has identified the business characteristics of textiles and fashion companies using the management indicators of those companies, which have not been sufficiently explored by previous studies. It has also helped to improve understanding of the industrial structure of the upstream and midstream sectors of the textiles and fashion industries.

• Korean System Dynamics Review
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• v.7 no.1
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• pp.119-146
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• 2006

City of Gyeongju's referendum finally offered the long-waited low-level radioactive waste disposal site in November 2005. Gyeongju's positive decision was due to the various economic rewards and incentives the national government promised to the city. 300 million won for an accepting bonus, 8.5 billion won, annual revenue fro the entry quantity of waste into the city's disposal site, the location of the headquarter building of the Korean Hydro and Nuclear Power Co., and the accelerator research center. All of the above will affect the city's infrastructure and the citizens' economic and cultural lives. Population, land use, economic structure, environment and quality of life will be affected. Some will be very positive, and some will be positive. This research project will see the future of the city and forecast the demographic, economic, physical and environmental changes of the city via computer simulation's system dynamics technique. This kind of simulation will help City of Gyeongju's what to prepare for the future. The population forecasting of the year 2026 will be 289,069 with the waste disposal site, and 279,131 without the waste disposal site in Gyeongju. The waste disposal site and the relocation of the company headquarters and location of the accelerator research center will attract 9,938 individuals more with 511 manufacturing shops and 1944 service jobs. The population increase will bring 3,550 more houses constructed in the city. Land use will also be affected. More land will be developed. However, mad, water plant and waste water plant will not be expanded as much. The city's financial structure will be expanded, due to the increased revenues from the waste disposal site, and property tax revenues from the middle-class employees of the company, and the high-powered scientists and technologists from the accelerator research center. All in an, the future of the city will be brighter after operating the nuclear waste disposal site inside the city.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.273-302
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• 2014

Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

• Korean Journal of Social Welfare Studies
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• no.39
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• pp.253-286
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• 2008

The care market has a unique characteristic that cannot be understood only by pure consumerism. It is not simply constituted by the relationship between consumers and providers at a uni-dimensional level of consumerism logic; rather, it operates in the tripartite-dimensional relationship between the state, consumers and providers through the design and regulation of policies by the state(Evers 1994). The unit costs of long-term care insurance has a meaning as the signal of state for policy direction. This paper consists three contents. The first, it provides to examine the developing process and method of the unit costs of long-term care and to define the characteristics of the developing method of unit costs of the Korean Long term care Insurance. The second, it tried to evaluate the adequacy, validity, and equity of unit costs of care. The third, it proposed the policy direction and measures focused on state's role as price determinator and regulator of care market in that unit costs of care is very important factors for formation and operating of care market.

• Journal of Digital Convergence
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• v.19 no.5
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• pp.353-363
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• 2021

This study analyzed to provide information for business improvement by analyzing the management efficiency of start-up investment companies so that startup investment companies can operate efficiently and by presenting information on inefficient factors. From 2014 to 2018, 83 start-up investment companies were analyzed using the DEA model. Input variables were he number of employees, capital, and output variables were selected for start-up investment assets, operating income, and net profit. As a result of the analysis, technical efficiency and pure technical efficiency showed a pattern with an increase in average, but scale efficiency repeatedly increased and decreased. It is believed that the decline in technology efficiency was due to the decrease in pure technology efficiency, and the inefficiency of start-up investment companies seems to have influenced the inefficiency of start-up investment companies rather than the inefficiency of scale. In addition, the size revenue shows that the DRS value is gradually decreasing, and the IRS value is generally increasing. It is believed that efficiency can be improved if operational inefficiency is improved based on the results and efficiency measures are established through scale expansion.

• Journal of Broadcast Engineering
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• v.23 no.6
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• pp.824-835
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• 2018

In this study, the impact on the number of cable TV subscribers as well as the profit of cable TV has been examined, and the impact on enlarging the digital broadcast viewing rights of cable TV subscribers and viewers' welfare has also been examined. We investigated the trends in the number of analog and 8VSB subscribers and revenue of cable TV operators by region and analyzed based on changes in the number of channels provided by each operator. The results show that analog subscribers and digital subscribers are delaying their departure through 8VSB conversion, and VOD subscription fees and home shopping transmission fees have a significant impact on operating profit. Subscribers, as they switched over to 8VSB, have become able to view channels of various genres with clear picture quality for a same subscription fee, and the program providers could offer programs to more customers. The government's deregulation policy due to the changes in broadcasting environment led to the facilitation of digital conversion of Pay-TV and improvement of viewers' welfare.

• Journal of Korea Trade
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• v.26 no.7
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• pp.127-144
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• 2022

Purpose - This study aimed to analyze the dynamic effects of progress in globalization on firm performance by employing individual companies' financial statement datasets. Design/methodology - The analysis leveraged the variables of operating revenue (OPRE) and pre-tax profit and loss (PLBT) as measurement variables for firm performance over 2011-2019. As a proxy variable for globalization, the trade index, a subordinate indicator of the KOF Globalization Index, was used. Through panel regression analysis, the relationship among those variables was ascertained, and the local projection (LP) method was subsequently utilized to identify dynamic effects. A subsample analysis was further performed by classifying companies based on their sizes and industries to determine the differential effects of globalization on each group. Findings - The panel regression analysis derived positive effects of an increasing degree of globalization on OPRE of Korea maritime and fishery firms. However, the impulse response functions, obtained from the LP, showed that in the short run, globalization affects PLBT negatively but in the long run, it gradually converted into a positive effect. In addition, according to the subsample analysis based on company size, the effects of globalization on OPRE became greater as each company became larger. Moreover, the industry-based analysis showed heterogeneous effects, depending on the industries in which the maritime and fishery companies operated. Originality/value - The analysis of the dynamic effects of globalization on firm performance, which revealed that the effects vary depending on the time points, is the important contribution of this study. The results also suggest that the effects of globalization vary depending on the company size and industry.

• The Korean Journal of Franchise Management
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• v.14 no.4
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• pp.35-50
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• 2023

Purpose: This study aims to uncover the mechanism of how initial fees are determined in the restaurant franchise business. Since the initial fees can be considered as a price of utilizing business models and operational knowledge of a certain franchise brand, it is critical to understand the fee decision-making process based on the strategic pricing theories. Therefore, this study investigates the influence of operational value on the determination of initial franchise fees grounded on a value-based pricing strategy. The Operational value is specifically categorized into profitability, growth, and stability of the franchise system. Research design, data, and methodology: The data used were collected through franchise disclosure documents and brand equity index provided by Korea Management Association Consulting. Data from 44 franchise restaurants during 2018 to 2021 are included in the sample. The panel dataset was analyzed by using generalized least squares estimation with R-Studio. Results: Profitability and stability positively influence initial franchise fees. However, growth did not influence initial franchise fees. Conclusions: The results of the study demonstrate that the operational value plays a critical role in determining the franchise fees. Specifically, franchisees recognize how much revenue a franchise system generates for them (i.e., profitability) and how stable the entire system is for operating business (i.e., stability) when they make purchasing decisions for franchise. The findings extend the pricing literature by applying pricing theories in the franchise fee context. Also, the study contributes to franchising and restaurant management literature by providing knowledge of how franchise fees are determined.

• Information Systems Review
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• v.25 no.2
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• pp.57-76
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• 2023

This study classifies the success of creators and YouTubers who have created channels on YouTube recently, which is the most influential digital platform. Based on the actual information disclosure of YouTubers who are in the field of science and technology category, video upload cycle, video length, number of selectable multilingual subtitles, and information from other social network channels that are being operated, the success of YouTubers using machine learning was classified and analyzed, which is the closest to the YouTube revenue structure. Our findings showed that neural network algorithm provided the best performance to predict the success or failure of YouTubers. In addition, our five factors contributed to improve the performance of the classification. This study has implications in suggesting various approaches to new individual entrepreneurs who want to start YouTube, influencers who are currently operating YouTube, and companies who want to utilize these digital platforms. We discuss the future direction of utilizing digital platforms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.2
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• pp.109-116
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• 2014

In this study, the factors affecting the profitability of the oriental medicine hospitals of University to be analyzed. To do this, profitability indicators and current ratio, liquidity, turnover ratio, cost factors analysis and suggested ways to improve management. The results are as follows, the operating margin(1.17%). the return on assets(3.76%), the net profit to gross revenues(2.37%), and the net profit to total assets(-1.89) were lower than the average of the entire oriental medicine hospitals in Korea(respectively 8.9%, 8.7%, 2.6%, 2.5%). Current ratio(256.76%), quick ratio(231.17%), fixed ratio(121.02%), and total assets turnover(135.69%) were similar to the average of all oriental medicine hospitals in Korea. But growth rate of total assets(-2.21%), and growth rate of patient revenue(1.89%) is low. And salaries(53.39%), materials costs(16.62%), administrative expenses(28.58%) were different to the average of all oriental medicine hospitals in Korea(respectively 35.3%, 10.7%, 45.1%). Meanwhile, the cost ratio of the oriental medicine hospitals of University was 98.59%. It was 7.49% higher than the 91.1% of the average of all oriental medicine hospitals in 2011. Correlation analysis, growth rate of patient revenue and operating margin increased at the same time, and net profit to gross revenues and net profit to total assets with a growth rate of total assets increased. And administrative expenses and profitability indicators showed a negative correlation. It means, in order to improve the profitability of the oriental medicine hospitals of University should focus on reducing administrative expenses. Multiple regression analysis, growth rate of total assets, total assets turnover, administrative expenses, and salaries has affected the profitability. Therefore, in order to improve the profitability of the oriental medicine hospitals of University to increase the total capital and the total capital turnover, and to reduce administrative expenses effort.