• Title/Summary/Keyword: Policy Portfolio

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Environmental Change and Policy of Solar Photovoltaic Industry (태양광 산업의 환경 변화와 정책)

  • Choi, Hyukjoon;Kim, Minji;Kim, Haeyeon;Yun, Ga-Hye;Lim, Seok Ki
    • 한국신재생에너지학회:학술대회논문집
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    • 2011.11a
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    • pp.153-153
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    • 2011
  • 신 재생에너지 정책이 발전차액지원제도(Feed In Tariff; FIT)에서 신 재생에너지 의무할당제(Renewable Portfolio Standard; RPS)로 변화하면서 원별 경쟁이 가속화되고 있다. 태양광 산업 역시 이러한 환경 변화에 대처해야 하며, 그를 위한 정책 구성이 필요하다. 이에 태양광 산업 정책은 크게 두 부분으로 구분하여 진행해야 한다. 첫째, 폴리실리콘(Poly silicon)을 활용하는 다결정실리콘 태양광에너지에 초점을 맞춘 정책이며, 둘째, 미래에 상용화될 차세대 태양광 에너지에 대한 대비를 위한 연구 개발(R&D) 정책이다. 먼저 다결정실리콘 태양광에너지에 초점에서의 산업 정책은 산업육성정책과 수출정책, 인프라 구성 등으로 나눌 수 있다. 현재 과도한 국가부채로 인한 세계경제 악화로 태양광에너지 업체들의 경제성이 악화하고 있다. 더욱 빨리 그리드 패리티(Grid Parity)를 달성하기 위해 수직통합 등의 필요성이 대두하고 있다. 이에 본 연구는 그리드 패리티 달성시기를 위해 태양광 산업 내 세대 변화를 하는 경우와 하지 않는 경우를 비교하기 위해 고려할 요소를 분석하였다. 현재 신 재생에너지 가운데 태양광에너지는 타에너지원 대비 가격경쟁력을 갖추지 못한 상황이다. 그러나 수출을 고려했을 때의 향후 한국의 차세대 성장동력으로의 발전가능성이 존재한다. 따라서 가격경쟁력이 가장 중요한 영향을 미칠 신 재생에너지 의무할당제 정책 하에서 태양광에너지가 전혀 채택되지 않는 상황을 막기 위한 정책이 필요하다. 그를 위해 필요한 정책적 요소들을 알아보았다. 마지막으로 인프라 구성을 위해 태양광 산업의 가치사슬(Value Chain) 상에서의 기업 분포와 경쟁력에 대한 조사를 시행하였다. 이는 태양광 산업 내의 경쟁력을 갖춘 부문과 그렇지 못한 부문을 구별하기 위함이다. 미래에 상용화될 차세대 태양광 에너지를 준비하는 과정에서는 연구개발 관련 정책이 가장 중요하게 다뤄야 할 부분이며, 그를 위해 정부 차원에서 지원하고자 하는 기술로드맵 등에 대해서 정리하였다.

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A Study on Co-movements and Information Spillover Effects Between the International Commodity Futures Markets and the South Korean Stock Markets: Comparison of the COVID-19 and 2008 Financial Crises

  • Yin-Hua Li;Guo-Dong Yang;Rui Ma
    • Journal of Korea Trade
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    • v.27 no.5
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    • pp.167-198
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    • 2023
  • Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

A Study on the Extracting ICT Development Trend and Promising Technologies by Utilizing Patent Information in Gyeongbuk Province (특허정보를 활용한 경북지역 ICT 개발동향 분석 및 유망기술 도출에 관한 연구)

  • Han, Jang-Hyup;Kim, Chae-Bogk
    • Journal of Korea Technology Innovation Society
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    • v.21 no.1
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    • pp.236-264
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    • 2018
  • This study investigates the trend of the patent applications and the future direction of ICT in Gyeongbuk Province by employing patent portfolio analysis, one of the methodology of map analyses for industry-related ICT issues. Thus, this study aims to investigate the ICT development trend based on ICT patent information in Gyeongbuk Province. The promising technologies in ICT industry are extracted by applying patent portfolio analysis, one of the patent map analyses. The analysis results can be applied to the establishment of research and development strategies. This study extracts ICT trend by applying International Patent Classification to the patents registered in Gyeongbuk. For promising technologies, this study analyzed the patents based on the ICT Classification Code. Based on the analysis results, this study presents the trend of patent application, technology share, patent activity status, the trend of patent application by each technology according to ICT classification, the growth stages of ICT market, registration parties for patents, joint researches of research parties, and primary parties of patent applications. After drawing promising technologies, this study provides the future progress direction of ICT industry in Gyeongbuk Province. The research results also can be applied to securing technology competence and developing strategy of technology policy.

Determinants of Private R&D Investment by Firms' Innovation Strategies - A Case study of Small and Medium Enterprises in Busan - (기업의 혁신전략에 따른 민간 연구개발 투자 영향 연구 - 부산지역 중소기업을 중심으로 -)

  • Park, Mun-su;Park, Sehee;Son, Wonbae;Kim, Bomi
    • Journal of Technology Innovation
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    • v.27 no.3
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    • pp.27-52
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    • 2019
  • This research studied the determinants of private R&D investment by examining the innovation strategies of 481 small and medium enterprises (SMEs, their employee size is 5 or more and less than 300) in Busan, South Korea. The data is derived from the Technology Survey of Small and Medium Enterprises in 2001 and 2003. Three explanatory variables for the innovation strategies are the R&D portfolio, the organization (personnel) for R&D, and the strategic role of CEO for innovation. The technological levels of industries are controlled in the linear regression model. The dependent variable is the total private R&D investment of a firm in the given fiscal year. The empirical results indicate that the private R&D investment positively correlates with the complexity of the R&D portfolio, the formal organization for R&D team, and the increase of R&D personnel. The formal organization for R&D team and the number of R&D personnel are correlated with the increase of private R&D investment across the four groups in the manufacturing sector but not in the service sector. These findings suggest that the innovation policy needs to target firms who have complex R&D portfolios, the formal organization of R&D teams, and sufficient R&D personnel in order to increase the private R&D investment of SMEs in regions, with consideration of industrial characteristics.

A Study on the Application of a Turbidity Reduction System for the Utilization of Thermal Wastewater in High Turbidity Zones (고탁도 해역의 온배수 활용을 위한 탁도저감시스템 적용에 대한 연구)

  • Ha, Shin-Young;Oh, Cheol;Gug, Seung-Gi
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.24 no.7
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    • pp.916-922
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    • 2018
  • Recently, power plant effluent condensers received a Renewable Energy Certificate as components of hydrothermal energy (weighted 1.5 times) as one target item of the Renewable Portfolio Standard (RPS) policy. Accordingly, more attention is being paid to the value of thermal wastewater as a heat source. However, for utilization of thermal wastewater from power plants in high-turbidity areas like the West Sea of Korea, a turbidity reducing system is required to reduce system contamination. In this study, an experimental test was performed over a month on thermal wastewater from power plants located in the West Sea of Korea. It was found that water turbidity was reduced by more than 80 % and that the concentration of organic materials and nutrient salts was partially reduced due to the reduction of floating/drifting materials. To conduct a comparative analysis of the level of contamination of the heat exchanger when thermal wastewater flows in through a turbidity reducing system versus when the condenser effluent flows in directly without passing through the turbidity system, we disassembled and analyzed heat exchangers operated for 30 days. As a result, it was found that the heat exchanger without a turbidity reducing system had a higher level of contamination. Main contaminants (scale) that flowed in to the heat exchanger included minerals such as $SiO_2$, $Na(Si_3Al)O_8$, $CaCO_3$ and NaCl. It was estimated that marine sediment soil flowed in to the heat exchanger because of the high level of turbidity in the water-intake areas.

A Research on PV-connected ESS dissemination strategy considering the effects of GHG reduction (온실가스감축효과를 고려한 태양광 연계형 에너지저장장치(ESS) 보급전략에 대한 연구)

  • Lee, Wongoo;KIM, Kang-Won;KIM, Balho H.
    • Journal of Energy Engineering
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    • v.25 no.2
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    • pp.94-100
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    • 2016
  • ESS(Energy Storage System) is an important source that keeps power supply stable and utilizes electricity efficiently. For example, ESS contributes to resolve power supply imbalance, stabilize new renewable energy output and regulate frequency. ESS is predicted to be expanded to 55.9GWh of installed capacity by 2023, which is 30 times more than that of 2014. To raise competitiveness of domestic ESS industry in this increasing world market, we have disseminated load-shift ESS for continuous power supply imbalance with FR ESS, and also necessity to secure domestic track record is required. However in case of FR ESS, utility of installing thermal power plant is generally generated within 5% range of rated capacity, so that scalability of domestic market is low without dramatic increase of thermal power plant. Necessity of load-shift ESS dissemination is also decreasing effected by surplus backup power securement policy, raising demand for new dissemination model. New dissemination model is promising for $CO_2$ reduction effect in spite of intermittent output. By stabilizing new renewable energy output in connection with new renewable energy, and regulating system input timing of new renewable energy generation rate, it is prospected model for 'post-2020' regime and energy industry. This research presents a policy alternatives of REC multiplier calculation method to induce investment after outlining PV-connected ESS charge/discharge mode to reduce GHG emission, This alternative is projected to utilize GHG emission reduction methodology for 'Post-2020' regime, big issue of new energy policy.

An Empirical Study on Technological Innovation Management Factors of SMEs (중소기업의 기술혁신 관리요소에 관한 실증연구)

  • Im, Chae-Hyon;Shin, Jin-Kyo
    • Journal of Technology Innovation
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    • v.20 no.2
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    • pp.75-107
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    • 2012
  • Previous researches on technological innovation have several limitations such as lack of general mechanism for technological innovation(inputs, throughputs and outputs of technological innovation), large company oriented studies, and ignoring importance of technology management capabilities. So, this study suggested a new model using resource-based theory and system theory, and empirically applied that to SMEs. Structural equation model analysis by using 223 SMEs in Daegu region provided a support for most of hypotheses. Research results showed that all of factors on technological innovation were significantly and positively related with each other: inputs(R&D leadership, innovation strategy, R&D investment, R&D human resource management, external network), throughputs(portfolio management, project management, technology commercialization) and output(technological innovation). In case of technological innovation inputs, R&D leadership influenced on innovation strategy positively and significantly. And R&D leadership and innovation strategy had positive and significant effects on R&D investment, R&D human resource management and external network. R&D human resource management and external network exerted positive and significant influences on technological innovation throughputs such as portfolio management and project management. But R&D investment did not significant impacts on technological innovation throughputs. Among technological innovation throughputs, both portfolio management and project management had positive and significant effect on technology commercialization. In addition, technology commercialization acted positively and significantly technological innovation output. This study suggests necessary of efforts to implement innovation strategy and manage R&D human resource effectively based on CEO's innovativeness and entrepreneurship. Also, if SMEs want to develop technology and commercialize it, they have to cooperate with external technology resources and informations. Research results revealed that proper level of R&D investment, internal and external communication, information sharing, and learning and cooperative culture were very important for improvement of technological innovation performance in SMEs. Especially, this research suggested that if SMEs manage technological innovation process effectively based on resource-based and system approaches, then they can overcome their resource limitations and gain high technological innovation performance. Also, useful policy support for technological innovation of central or regional government by this research model is important factor for SMEs' technological innovation performance.

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Climate Change Policy Analysis Considering Bottom-up Electricity Generation System (발전부문 하이브리드 모형을 사용한 기후변화 정책효과 분석)

  • Oh, Inha;Oh, Sang-Bong
    • Environmental and Resource Economics Review
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    • v.22 no.4
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    • pp.691-726
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    • 2013
  • We develop a hybrid model which allows the change in electricity generation mix by adding the electricity-sector components of bottom-up model to the conventional CGE model. The electricity sector is represented as a sum of separate generation technologies, each of which has the form of DRTS (Decreasing Returns to Scale) production function, unlike the conventional CGE model. We compare the effects of the 30% emission reduction target using the hybrid model with those using the conventional CGE model. The cost of meeting the target is lower with the hybrid model than the conventional CGE. It is consistent with previous studies in that adding the bottom-up components to the top-down model reduces the cost of emission reduction. In an extra analysis we find that an additional regulation like RPS (Renewable Portfolio Standard) increases the cost.

A Study of Management Strategies on CJ E&M, the Leading Firm in the Korean Media industry (국내 미디어 선도기업 경영전략 분석: CJ E&M을 중심으로)

  • Lee, Ji-Heon;Jung, Hoe-Kyung
    • Journal of Digital Convergence
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    • v.11 no.12
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    • pp.41-47
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    • 2013
  • In circumstances that case studies of management strategy for the domestic media company were rare, this study was performed case analysis of CJ E&M, representative new media/contents company in Korea. An evolutionary perspective is applied to diversification of the business and the external environmental analysis/resource based view are applied to capability evaluation since the inauguration as analysis frameworks. Unlike other media companies, CJ E&M have increased synergies of scale through horizontal, vertical diversification and superior contents strategies. furthermore, there are many advantages of enthusiasm of the leadership, expertise, high human configuration, creative corporate culture, effective contents portfolio. However, it is necessary to note that too much emphasis on competition and the performance of the organization may make organizational atmosphere rigid and weaken the global competitiveness.

A Theoretical Study on the Relationship Between the Limited Attention of the Entrepreneur and the Growth Rates of Entrepreneurial Firms (벤처경영자의 제한적 주의력과 벤처기업의 성장성에 관한 이론적 연구)

  • Lee, Ju-Heon
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2005.10a
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    • pp.221-226
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    • 2005
  • Gifford(1992, 1993, 1997, 1998)는 제한적 주의력(limited attention)의 관점에서 벤처경영자, R&D 관리자, 혁신자, 벤처 캐피탈의 의사결정을 연구하였다. 창업경영자 (entrepreneurs)는 기술 개발, 제품디자인 개발, 원자재 확보, 제품 생산, 유통채널 확보, 가격정책 결정, 판매촉진 및 마케팅정책 결정 등의 다양한 경영활동을 수행하고 끊임없이 창업기회(entrepreneurial opportunities)를 추구하는 사람이다. Gifford 는 벤처 경영자를 창업기회와 다양한 경영활동의 포트폴리오(portfolio)를 수행하고 관리하는 대리인으로 간주한 '마술사 모형(Juggler model)' 을 제시하고 이익극대화의 관점에서 대리인의 의사결정을 분석하였다. 그녀는 모형을 통하여 특정시점을 지난 기존 메뉴를 포기 하고 새로운 창업기회를 평가하는 '포기정책(discard policy)' 과 아울러 기존 메뉴를 관리한 이후 새로운 창업기회를 평가하는 '연령검사(age inspection)' 를 동시에 사용한다는 결과를 도출하였다. 본 논문은 Gifford의 마술사 모형(Juggler model)을 수정, 발전시켜 창업경영자의 의사결정을 분석하였다. Gifford의 모형은 성장하지 않는 창업기회의 포트폴리오 결정에 대한 모형이기 때문에 창업기회의 성장성이 벤처경영자의 의사결정에 어떤 영향을 미치는가에 대한 논의가 전혀 없었다. 본 논문에서는 창업경영자를 기업가적 활동을 수행하는 사람으로 정의하고 벤처경영자의 의사결정을 분석하였다. 성장률이 큰 기업에서 기업가적 활동을 수행할 때 창업경영자가 창출하는 기업의 현재가치는 크게 증가하게 되는 반면 성장률이 떨어지는 기업에서 기업가적 활동을 수행할때 창업경영자가 창출하는 기업의 현재가치는 크게 감소하게 된다. 또, 창업경영자는 성장률이 큰기업을 선택하면 관리횟수가 줄어들게 되고 이익의 감소 없이 빠르게 수확할 수가 있다. 국가의 정책과 제도가 창업경영자를 보다 성 장률이 높은 기업에서 기업가활동을 하게 한다면 국가경제의 성장속도는 빨라지게 될 것이다.

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