• Journal of the military operations research society of Korea
• /
• 제34권1호
• /
• pp.79-98
• /
• 2008

The purpose of this paper is to find the desirable R&D policies in defense area by analyzing causality between GDP and R&D investments in government, private, defense sectors. We have five variables which are composed of GDP, total R&D investment, R&D investments in government, private and defense sectors to figure out the causality between R&D investment in defense sector and other components. In the course of analysis on causality, we took the unit root test of variables to prevent spurious regression. Also we need to take cointegration test about non-stationary variables before the causality test. According to these test results, we took the causality test using ECM(Error Correction Model) for the models which have cointegrating relations. And we took ordinary Granger causality test for model which doesn't have a long-run stationary relationship. As a result of the causality test, it was shown that there exists the long-nu causality to GDP and R&D investments in government and private sectors from other variables. However, there doesn't exist the causality to defense R&D investment from other variables. We found that there doesn't exist the causality between R&D investments in defense and private sectors, and that they are independent.

• International conference on construction engineering and project management
• /
• The 2th International Conference on Construction Engineering and Project Management
• /
• pp.509-519
• /
• 2007

Private financing is playing an increasing role in public infrastructure construction projects worldwide. However, private investors/operators are exposed to the financial risk of low profitability due to the inaccurate estimation of facility demand, operation income, maintenance costs, etc. From the operator's perspective, a sound and thorough financial feasibility study is required to establish the appropriate capital structure of a project. Operators tend to reduce the equity amount to minimize the level of risk exposure, while creditors persist to raise it, in an attempt to secure a sufficient level of financial involvement from the operators. Therefore, it is important for creditors and operators to reach an agreement for a balanced capital structure that synthetically considers both profitability and repayment capacity. This paper presents an optimal capital structure model for successful private infrastructure investment. This model finds the optimized point where the profitability is balanced with the repayment capacity, with the use of the concept of utility function and multi-objective GA (Generic Algorithm)-based optimization. A case study is presented to show the validity of the model and its verification. The research conclusions provide a proper capital structure for privately-financed infrastructure projects through a proposed multi-objective model.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• 제12권3호
• /
• pp.1136-1144
• /
• 2011

SW-based service model is considered strategic industry in the advancement of national economic development. Also SW-based service model has Public Interest and Profitability, it should be conducted assessment considering both sides of private and public reflection. To obtain the goal of this research, firstly, based on broadly reviewing previous literature and logical reasoning in business model evaluation and feasibility of public business. Secondly, derived SW-based service model's feature through a group of experts to analyze. And AHP(Analytic Hierarchy Process) is adopted in developing the influential factors (indexes) for the profitability of each SW-based service model and the weight score of each factor. In the result, We suggested 5 evaluation areas, and 15 evaluation items reflecting private business model, public business evaluation and SW-based service model feature. The findings of this study are thought to be useful as a practical guideline in performing evaluating the SW-based service model for private and public sector.

• Proceedings of the Korean Operations and Management Science Society Conference
• /
• 한국경영과학회 1996년도 추계학술대회발표논문집; 고려대학교, 서울; 26 Oct. 1996
• /
• pp.157-161
• /
• 1996

This paper presents a method for designing private networks considering response time under packet switching network environment Specifically, we propose the designing process of a private network, where the host is assumed to be synchronous and the terminals to be asynchronous, according to protocol and access lines. To calculate the response time for the networks, we use the mutual independent M/M/1 and M/W/s queueing models. Comparing the response time derived from the model with the actual one, it is found that the model yields almost same performance in a more economic way. From the experiment, it is suggested that the necessary number of lines as well as the response time for a specific network can be estimated properly by sensitivity analysis.

• Korea Journal of Hospital Management
• /
• 제23권2호
• /
• pp.42-53
• /
• 2018

Purpose: this study investigates the effect of private health insurance on healthcare utilization. Methodology: For the analysis, we employed the three level nested two part model. Findings: the private health insurance adoption was associated with higher health care utilization. In particular, indemnity and fixed insurances adoption was associated with higher probability of outpatient visit, the number of outpatient visit and outpatient cost. While indemnity insurance adoption was associated with higher inpatient admission probability and inpatient days, fixed insurance adoption was associated only with higher inpatient admission probability. Practical Implications: indemnity and fixed insurance adoption were related with the adverse selection as well as moral hazard.

• Korean Management Science Review
• /
• 제34권2호
• /
• pp.67-83
• /
• 2017

This paper proposes a R&D project performance measurement model for private firms combining balanced scorecard (BSC) and data envelopment analysis (DEA). The efficiency of R&D projects is measured in terms of each of the three perspectives of BSC by using DEA : the internal process perspective (DEA-P), the customer perspective (DEA-C), and the financial perspective (DEA-F). The performance indicators of the three perspectives of BSC are considered as outputs of the corresponding DEA models. To provide strategic implications for R&D planning, we also propose the R&D project performance matrices composed of two different types of efficiency dimensions. The proposed model is expected to be fruitfully utilized for R&D performance measurement of private firms.

• Korean Journal of Construction Engineering and Management
• /
• 제10권3호
• /
• pp.130-138
• /
• 2009

Bromilow's time-cost (BTC) relationship was examined for building projects in Vietnam using actual construction time and total construction cost. Data set was collected from 77 historical building construction projects completed between 1999 and 2005 which were adjusted by consumer price index (CPI) to 2000 price. Time-cost equations were specified respected to two sectors, public and private, in Vietnamese construction industry and all cases. It is shown that a public funded building project has the longer construction duration than a similar budget private funded project. The resulting models are statistically significant. The adjusted R-square coefficients of all cases, public and private projects models are respectively 0.403, 0.436 and 0.377 mean that the BTC regression lines moderately fit the data set.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• 제34권3호
• /
• pp.41-48
• /
• 2011

Recently, the increasing power of distributors has given them the opportunity of introducing private brand (PB) products. Based on the game theory, this study analyzes the decision making of a distributor regarding the optimal pricing and quality strategies for the PB product. By analyzing the game model, it is shown that the pricing mechanism heavily depends not only on the market power of the distributor but on the quality of the PB product. It is also shown that, counter intuitively, as the market power of the distributor increases, the optimal quality of the PB product should be decreased.

• International conference on construction engineering and project management
• /
• The 1th International Conference on Construction Engineering and Project Management
• /
• pp.996-1001
• /
• 2005

Today, government is no longer considered the sole provider of public works or services. Public-Private Partnership (PPP) has been recognized as an important approach to solving problems for governments in providing public works and services. However, the joint ownership of public works/services complicates the administration of PPP projects. Particularly, the fact that government may rescue a distressed project and renegotiate with the developer causes serious problems in project procurement and management. This paper aims to study when and how government will rescue a distressed project and what impacts government's rescue behavior has on project procurement and contract management. A game-theory based model for government rescue will be developed. This pilot study, the author hopes, may provide theoretic foundations to practitioners/policy makers for prescribing creative PPP procurement and management policies and for examining the effectiveness of PPP policies.

• International conference on construction engineering and project management
• /
• The 5th International Conference on Construction Engineering and Project Management
• /
• pp.344-351
• /
• 2013

Private participation on public infrastructures projects is being promoted by governments of several developing countries, among them Colombia. As a result, several advantages such as service delivery efficiency, technology application and faster execution of the projects have been recognized. Hence, the Colombian Government is looking for schemes that allow the private investment in projects like hospitals, schools, prisons and public edification. In this paper, experiences in PPP from other countries were analyzed and adjusted to the Colombian environment. As a result, a model adapted to Colombia is presented, based on a well-developed case from Spain. The awarding process is defined by economic criteria, previous compliance of minimum technical exigencies. Once the infrastructure is operating, contractual periodical payments will be done, based on the performance of the facility.