• The Journal of Fisheries Business Administration
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• v.26 no.1
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• pp.79-104
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• 1995

Dividend Policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the attainment of firm's objective. This paper is to examine the present status of dividend policy of the Pusan Cooperative Fish Market, and to suggest the optimal dividend policy decisions appropriate for achieving its objective, which is to promote the fishermen's benefits and protect the interest of consumers. There are two types of dividend that the Pusan Cooperative Fish Market pays to the equity owners : (1) dividend on capital and (2) equalized patronage dividend. During'90s, while the rate of dividend on capital ranged from 1.7% to 2.8%, that of equalized patronage dividend ranged from 13.9% to 22.9%. Therefore, the rate of total dividend on capital including revolving funds has been about 20%, which turns out to be much higher than those of companies listed in the stock market. According to the current dividend data, the Pusan Cooperative Fish Market focuses on the equalized patronage dividend and the dividen on capital is the secondary type of dividend. In addition, the interesting feature of equalized patronage dividend is that it is supposed to be reinvested into capital by the Articles of the Fish Market, as soon as the Fish Market pays it to its members. Finally, this paper suggests the rational dividend policy of the Fish Market that is able to help its objective to be achidved more efficiently. The overall direction of the rational dividend policy can be summarized as follows ; (1) The level of cash dividend on capital should be increased enough to reflect the market interest rate. (2) The subsidy of working capital to some member fisheries cooperatives as quasi- dividend should be cut off steadily. (3) The equalized patronage dividend should be replaced by the original patronage dividend whose level is determined by the volume of each member's purchase. (4) In the long-term, it is necessary to improve the system of revolving funds in the way that revoloving funds could serve to complement equity capital for only a fixed time, after which they ard repaid to the members.

• Environmental and Resource Economics Review
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• v.19 no.1
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• pp.159-198
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• 2010

The Korean government is planning to introduce the Renewable Portfolio Standard (RPS) system to replace the currently used Feed-in-Tariff (FIT) system which is a subsidy-based mechanism to foster the renewable energy industry. The RPS system is a market-oriented system in which the power companies are obliged to use renewable energy sources to produce electricity by a certain ratio of their production level. They can either produce for themselves or simply purchase the REC (renewable energy certificate) in the market to implement. The objective of this article is to compare the RPS system with the current FIT system in terms of the implementing cost to achieve the policy goal to expand the share of renewable energy m the total power generation. The analysis is conducted using Linear Programming models. The results of this study imply several policy suggestions to successfully introduce the RPS system.

• Environmental and Resource Economics Review
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• v.18 no.4
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• pp.695-713
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• 2009

This study investigates the determinants of municipal water prices and costs in Korea. A panel data set of 164 municipalities for the period 2000~2007 is used for the study. Both random and fixed effect models with an appropriate set of instruments are applied to the data. Substantial differences in prices and costs among municipalities are observed. The study finds that prices and costs increase if the leakage rate is high, the quality of primary water is bad, and the municipality has to purchase primary water from K-water which is the single creation and management corporation of water resources facilities in Korea. Prices and costs decline if the size of consumer is large, the proportion of paying consumer is high, and the amount of subsidy from the central government is large.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.14 no.2
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• pp.54-68
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• 2015

The advantage of electric taxies is that people who are not familiar with electric vehicle(EV) can have easily experience to ride EV. So, EV taxi would be a reasonable strategy for triggering EV market expansion. However, the EV taxi can be adopted by taxi companies with financial benefits. Therefore the feasibility study should be required by analyzing the cost with the points of view of the taxi company. In this study we suggested the methodology for feasibility study of the EV taxi based on the real taxi data and presented political implication. According to the study result, EV taxies could have economic value under the specific conditions such that the government subsidy is added to the purchase price of the vehicle. Also, the charging time should be used as drivers' rest time or mealtime in order not to consider the loss cost. We suggest that the new feasibility study which compares an EV taxi with other alternative vehicles such as PHEV or with an old EV taxi is needed as the future works.

• International Commerce and Information Review
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• v.16 no.3
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• pp.331-355
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• 2014

With the rapid growth of Chinese economy, environmental issues also became a serious problem that public and private sector have to take under consideration. For the sustainable growth of Chinese economy scholars and policy makers agree to the stronger regulation for protection of natural environment, but at the same time worry about its negative effect on economic growth. This paper primarily focus on the relationship between the factors that have the effect on green product purchasing intention and purchasing behavior. Purchasing intention was considered as mediating variable in our model and state-action orientation - as moderating variable. We set 8 hypotheses and tested with structural equation modeling. The result shows that governmental regulation and subsidy, social environment related with green product purchase, and consumer perception on the benefit of green product have positive relationship with purchasing intention, but environmental concern does not show relationship with it. We also proved that state-action orientation has moderating effect between purchasing intention and purchasing behavior. Purchasing intention with action orientation show positive and statistically significant effect on purchasing behavior. This result supports the hypothesis that the attitude of customers has the effect on ones purchasing behavior.

• Environmental and Resource Economics Review
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• v.28 no.2
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• pp.307-326
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• 2019

The electric vehicle is a representative measure to reduce greenhouse gas and local air pollutants in the transportation sector. Most countries provide purchase subsidies and tax reductions to promote electric vehicle sales. The electric vehicles have been considered as zero-emission vehicles(ZEV) in light of the fact that there has been no pollutant emission during driving. However, recent studies have pointed out that the pollutant emitted from the process of generating electricity used for charging the electric vehicles need to be treated as emissions of the electric vehicles. Furthermore, the environmental benefits of electric vehicle replacing the internal combustion vehicle vary with the power mix. In line with the recent studies, this study analyzes the impact of electric vehicles based on the current power mix and future energy transition scenarios in Korea. To estimate the precise air pollutants emission profile, this study uses hourly electricity generation and TMS emission data for each power plant from 2015 to 2016. The estimation results show that the electric vehicles under the current power mix generate the environmental benefits of only -0.41~10.83 won/km. Also, we find that the environmental benefit of electric vehicle will significantly increase only when the ratio of the coal-fired power plant is reduced to a considerable extent.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.2
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• pp.153-161
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• 2021

This study analyzed the ripple effect of the demand-side support for start-up venture companies on the macro economy using Dynamic General Equilibrium model. In the model, start-up venture companies were expressed in a manner that distinguished between workers and entrepreneurs by applying the span of control in the Lucas(1978). As a result of the analysis, when the share of public procurement of start-up venture companies was increased from 5.7% to 10%, the actual production of start-up venture companies increased by about 46.17% and the number of venture companies increased by about 150%. In addition, it was analyzed that the number of jobs through venture companies increased by about 61.56%. In addition, it was found that the economic effect was greatly reduced when the start-up venture company was supported as a subsidy for the supply sector with the same amount as the public procurement support. This is interpreted as the fact that if the government implements the supply-side support policy, the expansion of supply causes the price of start-up venture companies to fall, reducing the effect of the support policy in half. Therefore, when supporting start-up venture companies, the government should make efforts to maximize the policy effect by expanding the demand-side support through public procurement and reducing the payment of simple subsidies to start-up venture companies.