• Title/Summary/Keyword: Profit Index

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Structural Analysis for Ports of Korea-China Car Ferry using Shift Effect Method - Focusing on Incheon Port (전이할당 분석을 이용한 한중카페리 항만의 구조분석에 관한 연구 -인천항을 중심으로-)

  • Lee, Jinkyu;Yeo, Gitae
    • Journal of Korea Port Economic Association
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    • v.30 no.3
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    • pp.39-58
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    • 2014
  • Korea and China have maintained sea routes between two nations through the shipping conference which was established in May 1993. Due to this effort, the market of Korea-China car ferry on Yellow sea makes growth year by year. The car ferry business has shown fierce competition because it has huge impacts on regional and national level economy. In this respect, the aim of this research is to analyze the structural analysis for ports of Korea-China car ferry using Shift Effect(SE) method. As a results, passengers and cargo volumes of Incheon port continuously transfer to Pyeontaek and Gunsan port. Moreover, absolute growth rate of Incheon port do not reach the potential growth rate. The competitiveness power of Incheon port has lower position compared to Pyeontaek and Gunsan port. The cargo volumes of ports located on western coast of Korea have increased recently, however, passengers and cargo volumes of Incheon port have shown lower increasing rate compared to average of Korean western coast ports. For Incheon port, high value added cargoes which give large profit on port side, have to be attracted. Moreover, Incheon port has to become a specialized port.

The Effect of Trust and Justice on Relation Satisfaction and Long-term Commitment in Franchise Business (가맹본부에 대한 신뢰와 공정성이 관계만족과 장기적 결속에 미치는 영향)

  • Lyu, Myoung-Keun;Yang, Hoe-Chang
    • Journal of Distribution Science
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    • v.11 no.1
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    • pp.25-34
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    • 2013
  • Purpose - This study examines the adverse press coverage that has increased in proportion to the remarkable growth of various kinds of franchise businesses in the food service industry. Today, the trust of franchisees in relation to their franchisor, and the maintenance of good relations between the two, has become a significant social issue. This study investigates relationship satisfaction and the long-term commitment between the franchisor and franchisee. Research design, data, methodology - We used a path analysis to investigate the relationship between justice and trust, trust and relationship satisfaction, justice and relationship satisfaction, trust and long-term commitment, and relationship satisfaction and long-term commitment. Structural Equation Modeling and a Sobel test were used to investigate the mediating effects of trust and relationship satisfaction. Data were collected from 237 Food Franchisees in Seoul and Gyeonggi Province in order to test the theoretical model and its hypotheses. Two research methodologies are generally used in the distribution management field. For this study, an empirical method was used. Results - A causal analysis was carried out to test if the research model has a sufficient fit index (for instance, χ2 = 46.694, df = 10, p = .000, GFI = 0.946, AGFI = 0.850, RMR = 0.034, NFI = 0.966, CFI = 0.973), and the results showed that the model was sufficient, thus demonstrating the suitability of the research model. Each hypothesis had a positive influence, both on long-term commitment and relationship satisfaction. Justice with the franchisor had a positive influence on trust. Relation satisfaction cognized by franchisees was found to positively influence long-term commitment. The franchisee perception of justice in relation to the franchisor had no significant influence on long-term commitment. The study investigated the hypothesis that trust could mediate justice and long-term commitment, and that relationship satisfaction could also mediate long-term commitment Both trust and relationship satisfaction were found to be important for long-term commitment. Specifically, trust sub-factors and justice sub-factors influenced long-term commitment. Identification-based and knowledge-based trust were more important than calculus-based trust. Distributive justice was deemed more important than procedural justice; distributive justice should thus be strengthened. Conclusions - Both franchisor and franchisee were independent businesses. Evidently however, the franchisor could not ensure profit without long-term commitment from the franchisee. As for the success of the franchise business, the franchisor should carry out appropriate strategies leading to a satisfactory relationship. For example, transparency makes it possible to maintain and enhance trust and to improve relationship satisfaction. Just relations between franchisor and franchisee should make it possible to maintain and enhance the franchisee's trust. The franchisor should provide a variety of information with respect to the franchisee's business success. Finally, in order to improve the franchisee's long-term commitment, the franchisor should ensure a just approach with trust and relationship satisfaction among their strategies.

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Financial performance analysis based on efficiency evaluation of Regional Public Hospital (지방의료원의 운영효율성 평가에 따른 재무성과 분석)

  • Lee, Jin-Woo
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.4
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    • pp.614-623
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    • 2017
  • The purpose of this study is to analyze the impact of the financial performance of regional public hospitals on their efficiency. In addition, the analysis of their efficiency using environmental factors, such as the market share, operating mode, and size of the regional public hospitals, as well as the factors influencing their efficiency, are selected by selecting the input and output factors of the hospitals and some differences were found between them. The DEA index and financial performance of the 31 regional public hospitals were calculated for the three years from 2012 to 2014. ANOVA and hierarchical regression analysis were used. As a result, there was a significant difference in their efficiency according to the environmental factors, such as the city scale of the regional public hospital, the number of hospital beds, and their business performance, productivity, and publicness. The medical profit margin (p<0.05), labor cost investment efficiency (p<0.05) and HHI (p<0.05) were found to affect the efficiency. In order to identify the inefficiencies of the regional public hospitals and increase their efficiency, it is necessary to measure the efficiency of the input resources and to reduce their cost. In addition, if the regional public hospitals were to provide specialized services, such as specialized functions of medical care that would give them a competitive advantage over private hospitals, their operational efficiency would be enhanced and they would be able to fulfill their role as public medical institutions.

Analysis of Effect of Aid Fragmentation on Spending on Health by Recipients : Focus on the Sub-Sahara African Nations (원조 범람이 수원국의 보건부분 정부지출에 미친 영향분석: 아프리카 사하라 사막 이남 지역 국가들을 중심으로)

  • Lee, Hyemin;Jang, Duckhee
    • Journal of International Area Studies (JIAS)
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    • v.21 no.1
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    • pp.39-72
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    • 2017
  • The purpose of this study is to conduct an empirical analysis on the effect of aid proliferation on government spending on health by the recipient nations using panel data and acquire information on the direction of future ODA operations. In this study, calculated excessive foreign aid index with regard to the health sector of Sub-Sahara African nations and conducted an empirical analysis on the effect of aid fragmentation on government spending on health sector. The result of the analysis disclosed that aid fragmentation significantly reduced government spending on health. It is anticipated that such trend came from the mutual pursuit of profit between the attribute (the needs of the donor nation) of ODA projects after new businesses and the governments of recipient nations that want ODA funding. Because competitive and excessive supports in ODA projects induce distortion in the government budget operation of the recipient nations and thereby trigger disutility in ODA projects, Based on the result of the analysis, We proposed to incorporate a more comprehensive deliberation with regard to the capacity of the recipient nations as well as a need for the role of mediating body such as DAC.

Effect of the U.S. Monetary Policy on the Real Economy of the Asia: Focusing on the impact of the exchange rate in Korea, China and Japan (미국의 통화정책이 아시아 실물경제에 미치는 영향: 한국, 중국, 일본의 환율충격을 중심으로)

  • Choi, Nam-Jin
    • International Area Studies Review
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    • v.20 no.2
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    • pp.3-23
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    • 2016
  • In this study, we used actual proof analysis, based on SVAR model according to economy theory, to observe the impact of actual and financial market of Korea, Japan, and China that have adopted quantitative easing export based strategy of growth, an unconventional monetary policy of the U.S. As a result of estimation, it appears that real effective exchange rate rise shock of Korea, Japan, and China against U.S. dollar has a negative influence on current account and index of industrial product, which are real economy. It can be implied that the result is driven from the fact that strong home currency of Korea, Japan, and China decreases price competitiveness of exports, causing negative influence on real economy. The real effective exchange rate shock against U.S. dollar appeared to decrease national bond rate of Korea and Japan, while increasing that of China. In instances of Korea and Japan, it is implied that national bond rate decreases as foreigner investment funds flow in, considering foreign-exchange profit through advanced financial market with high opening extent. On the other hand, because there are strong regulation on opening extent of Chinese financial markets, the influence seems to be greater for domestic policy, rather than a foreign influence. Lastly, Korea showed a more dramatic variable reaction to exchange rate shock compared to Japan or China. It is implied from the result that Korea is relatively more susceptible and fragile in regards of international status of economic size and currency.

A Basic Study on Effective Adjustment Method for Construction Escalation/De-Escalation Price (건설공사 중 물가변동에 따른 효율적인 계약금액 조정에 관한 기초 연구)

  • Sung, Ju-yong;Kim, Dong-jin;Lee, Min-jae
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.3
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    • pp.3-11
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    • 2019
  • The construction of a facility is an act whereby infrastructure such as roads and railways and other facilities such as housing and office spaces are constructed, and due to the characteristics of the relevant industry where such construction is carried out in a custom order method, it requires a long period of time mostly. While the construction is carried out over a long period of time, fluctuations in the price of raw materials required for the construction occur. Therefore, the cost of the construction also fluctuates inevitably. The fluctuation of the construction cost meshes closely with the profit of a constructor and the efficiency of government spending. Therefore, it is necessary to maintain the construction cost at a reasonable level by adjusting the construction cost rationally in order to secure the required construction quality and spend the budget efficiently. The buffer system for solving such problem is the contract amount adjustment system by fluctuations in prices (Escalation/De-Escalation). In this study, the method combining the escalation method based on the item adjustment method was suggested for an efficient contract amount adjustment method. In addition, it is proposed that there be an investigation and codification of matters not applied to government acts and regulations on contracts related to the adjustment of fluctuations in prices legally.

The Effects of Compliance Timing on Multinational Enterprises' Corporate Performance in China: An Application of Institutional Perspectives

  • Yang, Woo-Young;Han, Byoung-Sop
    • Journal of Korea Trade
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    • v.24 no.4
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    • pp.71-94
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    • 2020
  • Purpose - Multi-National Enterprises (MNEs) tend to face a high level of institutional pressures in regions with high institutional development level. When complying with institutional pressures, firms try to make decisions to maximize profit while minimizing the risks to them. The purpose of this study is to investigate the influence of the institutional development level on institutional compliance timing by MNEs and the relationship between compliance speed and corporate performance. Design/methodology - The research focuses on three main variables, which are the institutional development level (as a determination of the institutional pressure level), the firm's compliance speed (as a determination of the compliance timing), and the firm's financial performance (as a determination of the corporate performance). We collected 19,869 firm-level data from CSMAR (the China Stock Market and Accounting Research), 6,922 CSR data from RKS (the Rankins CSR Ratings), and province and city-level data from the NERIM (National Economic Research Institute Index of Marketization) and NBSC (National Bureau of Statistics of China). The firms in China were chosen for analysis, and the analysis period was from 2008 to 2017. Random Effects GLS Regression was used to test the relationships among the variables. Findings - This study examined the effect of the institutional development level on the firm's compliance speed, together with the effect of compliance speed on the firm's financial performance of the MNEs in China. We found that the institutional development level positively influenced firms' financial performances, which means the firms' financial performances are better in the region with a high institutional development level. The compliance speed of institutional practice by firms was faster in the higher level of institutional development. However, the firm's delayed compliance led to better financial performance. Originality/value - Studies in the resource dependence view of Institutional Theory often fall short in understanding the theory by overlooking the firm's active decision-making. Thus, the findings do not present a full scope of corporate performance in this regard. This study not only found a way to test the role of a firm's independent decision-making (i.e., compliance timing) when facing the institutional pressure but also prove the significant role of the compliance timing on corporate performance. Also, we were able to test the effect of institutional development level, controlling location-specific variables because we used CSR performance data for MNEs operating in China. Lastly, by doing the above, the findings of this study suggest practical implications to the industry practitioners in MNEs.

Simulation and Feasibility Analysis of Aging Urban Park Refurbishment Project through the Application of Japan's Park-PFI System (일본 공모설치관리제도(Park-PFI)의 적용을 통한 노후 도시공원 정비사업 시뮬레이션 및 타당성 분석)

  • Kim, Yong-Gook;Kim, Young-Hyeon;Kim, Min-Seo
    • Journal of the Korean Institute of Landscape Architecture
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    • v.51 no.5
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    • pp.13-29
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    • 2023
  • Urban parks are social infrastructure supporting citizens' health, quality of life, and community formation. As the proportion of urban parks that have been established for more than 20 years is increasing, the need for refurbishment to improve the physical space environment and enhance the functions of aging urban parks is increasing. Since the government's refurbishment of aging urban parks has limitations in securing financial resources and promoting attractiveness, they must be promoted through public-private partnerships. Japan, which suffered from the problem of aging urban parks, has successfully promoted several park refurbishment projects by introducing the Park-PFI through the revision of the 「Urban Park Act」 in 2017. This study examines and analyzes the characteristics of the Japan Park-PFI as an alternative to improving the quality of aging domestic urban park services through public-private partnerships and the validity of the aging urban park refurbishment projects through Park-PFI. The main findings are as follows. First, it is necessary to start discussions on introducing Japan's Park-PFI according to the domestic conditions as a means of public-private partnership to improve the service quality and diversify the functions of aging urban parks. In order to introduce Park-PFI social discussions and follow-up studies on the deterioration of urban parks. Must be conducted. The installation of private capital and profit facilities and improvements of related regulations, such as the 「Parks and Green Spaces Act」 and the 「Public Property Act」, is required. Second, it is judged that the Park-PFI project is a policy alternative that can enhance the benefits to citizens, local governments, and private operators under the premise that the need to refurbish aging urban parks is high and the location is suitable for promoting the project. As a result of a pilot application of the Park-PFI project to Seyeong Park, an aging urban park located in Bupyeong-gu, Incheon, it was analyzed to be profitable in terms of the profitability index (PI), net present value (FNPV), and internal rate of return (FIRR). It is considered possible to participate in the business sector. At the local government level, private capital is used to improve the physical space environment of aging urban parks, as well as the refurbishment of the urban parks by utilizing financial resources generated by returning a portion of the facility usage fees and profits (0.5% of annual sales) of private operators. It was found that management budgets could be secured.

Effects of TR and Consumer Readiness on SST Usage Motivation, Attitude and Intention (기술 준비도와 소비자 준비도가 Self Service Technology 사용동기와 태도 및 사용의도에 미치는 영향)

  • Shim, Hyeon Sook;Han, Sang Lin
    • Asia Marketing Journal
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    • v.14 no.1
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    • pp.25-51
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    • 2012
  • Researches about the relationship between SST(Self Service Technology) and TRI(Technology Readiness Index) have been carried out after TRI was developed by Parasuraman and his colleagues(2000). We hypothesize Consumer Readiness can also influence consumer's motivation, attitude, and intent to use SST. Currently, there has been no research on this subject. In this study, we investigated the relationship between TR, Consumer Readiness and SST Core Attitudinal Model which Dabholkar & Bagozzi(1994) proposed. The researchers also investigated moderating effects of consumer traits and situational factors to verify the acceptance of such forms of service delivery by all kinds of consumers and under different situational contexts. Self consciousness, the need for interaction with an employee, and the technology anxiety were used as consumer trait variables. Perceived waiting time and perceived crowding were used as situational variables. 380 questionnaires were distributed to a sample group of people in their 20's and 30's, and the data were analyzed with structural equation model using AMOS 18.0 program. All of Cronbach's alpha values representing reliabilities were satisfactory. The values of Composite Reliability(CR) and Average Variance Extracted(AVE) also showed the above criteria, thus providing evidence of convergent validity. To confirm discriminant validity among the constructs, confirmatory factor analysis and correlations among all the variables were examined. The results were satisfactory. The results of this study are summarized as follows. 1. Optimism and innovativeness of TR partially influenced the motivation to use SST. People who tend to be optimistic use SST because of ease of use and fun. The innovative however, usually use SST due to its performance. However, consumer readiness of role clarity, ability and self-efficacy influence all the components of motivation to use SST, ease of use, performance and fun. The relative effect of consumer readiness on the motivation to use SST was much stronger and more significant than that of TR. No other previous studies have examined the effects of Consumer Readiness on SST usage motivation, attitude and intention. It is academically meaningful that the researchers verified that Consumer Readiness is the important precedent construct influencing the self service technology core Attitudinal Model. Our findings suggest that marketers should consider fun and ease of use attributes to promote the use of self service technology. In addition, the SST usage frequency will rise rapidly when role clarity, ability, and self-efficacy which anybody can easily handle SST is assured. If the SST usage rate is increased, waiting times for customers could be decreased. Shorter waiting time could lead to higher customer satisfaction. It may also result in making a long-term profit owing to the reduced number of employees. Thus, presentation of using SST by employees or videos showing how to use it will promote the usage attitude and intent. 2. In SST core attitudinal model, performance and fun factors among SST usage motivation affected attitudes of using SST. The attitude of using SST highly influenced intent to use SST. This result is consistent with previous researches that dealt with the relationship between motivation, attitude and intention. Expectation of using SST could result in good performance just like the effect of ordering menu to service employees and to have fun since fun during its use could promote more SST usage rate. 3. In the relationship among motivation, attitude and intent in SST core attitudinal model, the moderating effect of consumer traits(self-consciousness, need for interaction with service employees and technology anxiety) and situational factors(perceived crowding and perceived waiting time) were tested. The results also supported the hypothesized moderating effects except perceived crowding. The highly self-conscious tended to form attitudes to use SST because of its fun compared to those who were less self-conscious because of its performance. People who had a high need for interaction with service employees tended to use SST for its performance. This result indicates that if ordering results are assured, SST is easily accessible to even consumers who have a high need for interaction with a service employee. When SST is easy to use, attitudes strengthen intent among people who had a high level of anxiety of technology. People who had low technology anxiety formed attitudes to use SST because of its performance. Service firms must ensure their self service technology is designed to be easy to use for those who have a high level of technology anxiety. Shorter perceived waiting times strengthened the attitude to use self service technology because of its fun. If the fun aspect is assured, people willing to use self service technology even perceive waiting time to be shorter than it actually is. Greater perceived waiting times form higher level of intent to use self service technology than those of shorter perceived waiting times. This implies that people view self service technology as a faster alternative to ordering service employees. The fun aspect of self service technology will attract a higher rate of usage for self service technology. 4. It has been proven that ease of use, performance and fun aspects are very important factors in motivation to form attitudes and intent to use self service technology regardless of the amount of perceived waiting time, self-consciousness, need for interaction with service employees, and technology anxiety. Service firms must consider these motivation aspects(ease of use, performance and fun)strongly in their promotion to use self service technology. Ease of use, assuring absolute performance compared to interaction with service employees', and adding a fun aspect will positively strengthen consumers' attitudes and intent to use self service technology. Summarizing the moderating effects, fun is the most valuable factor triggering SST usage attitude and intention. Therefore, designing self service technology to be fun will be the key to its success. This study focused on the touch screen self service technology in fast food restaurant. Although it has its limits due to the fact that it is hard to generalize the results to any other self service technology, the conceptual framework of this study can be applied to future research of any other service site.

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