• The Journal of Small Business Innovation
• /
• v.20 no.3
• /
• pp.49-68
• /
• 2017

Platform finance is emerging as an alternative finance for SMEs by suggesting a new funding source based on a new technology named FinTech. The essence of this business is the adapting ICT challenges to the financial industry that can adequately reflect risk assessment using Big Data and effectively meet individual risk-return preference. Thus, this is evolving as an alternative to existing finance in the form of P2P loans for Micro Enterprises and supply-chain finance for SMEs that need more working capital. Platform finance in Korea, however, is still at an infant stage and requires policy support. This can be summarized as follows: "Participation of institutional investors and the public sector," meaning that public investors provide seed money for the private investors to crowd in for platform finance. "Negative system in financial regulations," with current regulations to be deferred for new projects, such as Sandbox in the UK. In addition, "Environment for generous use of data," allowing discretionary data sharing for new products," and "Spreading alternative investments," fostering platform finance products as alternative investments in the low interest-rate era.

• KDI Journal of Economic Policy
• /
• v.32 no.1
• /
• pp.97-129
• /
• 2010

We examine performance of actively managed equity funds in Korea for the period from 2002 to 2008 and investigate if fund managers have market timing abilities. We obtain the following findings: (1) average performance of funds evaluated at net return basis(net of expenses) is statistically indistinguishable from zero; (2) average performance of funds evaluated at gross return basis(before netting expenses) exceeds benchmark market returns significantly. More importantly, when funds are grouped by their size of expenses, higher performance is matched with larger expense; (3) the regression results for decomposing positive excessive returns of large-expense funds between market timing and stock selection ability are mixed. The first two findings of the paper are consistent with the Efficient Market Hypothesis a $l{\acute{a}}$ Grossman and Stiglitz(1980). Concluding remarks, however, need to be reserved since sources of excessive performance of funds with large expenses are yet to be clarified.

• Journal of the Korean Society for Library and Information Science
• /
• v.43 no.4
• /
• pp.117-137
• /
• 2009

This study aims to grasp how to understand the difference in return on investment (ROI) or the cost-benefit ratio in forty-two domestic and overseas studies of library valuation, using a meta-analytical review method. Meta-analysis, a quantitative analysis on the findings of previous studies, was conducted to gather the general findings and lessons from prior empirical research. The results of meta-regression analysis indicate that the pattern of findings is consistent with our expectations regarding the effect of benefit scope and per capita GDP included in the ROI figure. This study appears to be the first meta-analytical review conducted on library valuations and the findings provide strong implications for the policy-making process.

• Journal of Digital Convergence
• /
• v.11 no.11
• /
• pp.463-470
• /
• 2013

The objective of this study is to compare hospital performance between Local Government Hospitals and General Hospitals. To compare the result of the financial performance between two groups, there were significant differences in current ratio, Fixed ratio, total assets turnover, personnel expenses to gross revenues, management expenses to gross revenues, return on assets, operating margin. The significant impact relations of ROA(Return on Assets) were formed the total assets turnover, salaries, material costs, administrative expenses. Although two groups are the similar beds, most of LGH are in the red so the managers and local government must consider the financial efficiency of LGH.

• Journal of the Korean Solar Energy Society
• /
• v.40 no.2
• /
• pp.1-10
• /
• 2020

Korea government published renewable energy obligation policy that public building must be supplied some part of total consumption energy (2019: 27%, 2020: 30%). RETScreen is freely available global energy tool that developed by Canadian National Energy Laboratory to quantify energy saving to compare conventional system. This program can be performed energy modeling, cost analysis, greenhouse gas emission analysis and financial analysis. In this study, GSHP (Ground source heat pump) heating and cooling system were studied for the energy deliverly and ROI (Return On Investment) in an office building. Three cases were studied according to the number of HP (Heat pump) units for the 1,000㎡ office building located in Daejeon. Results indicated that the energy delivery of the case 1 (1 HP unit) covered 57% of the office building heating and cooling energy consumption. The case 2 (2 HP units) covered 87.8% and the case 3 (3 HP units) covered 96.8% of the office building energy consumption. The ROI of the case 1 indicated 7.9 years. While 8.2 years for the case 2 and 9.7 years for the case 3.

• Journal of Environmental Policy
• /
• v.10 no.2
• /
• pp.61-92
• /
• 2011

We analyzed the efficiency of environment investments by taking examples of central government's environmental investment (CGEI hereafter) and investment in prevention of environmental pollution (IPEP hereafter). We expanded the scope of existing studies by decomposing the internal rate of return (IRR hereafter) and present value of benefit (Bpv hereafter) into variable cost (VC hereafter) reduction, investment cost reduction (STC-VC hereafter), and rent. And we found that Bpv checks only the magnitude of benefit, while IRR indicates the existence of efficiency by investigating short-run total cost (STC hereafter) reduction and rent. Finally, by analyzing investment efficiency and changing benefit with respect to CGEI and IPEP through the investment efficiency methodology that compares IRR with market interest rate, we executed retrospective benefit-cost analysis. Accordingly, CGEI and IPEP are not efficient. However, IPEP is even more inefficient than CGEI.

• Journal of Korean Society of Rural Planning
• /
• v.26 no.2
• /
• pp.39-49
• /
• 2020

This study was attempted to grasp the push-pull factors of urban to rural migrants in relation to services and infrastructure of rural welfare and culture. Online and offline survey were conducted for urban residents who were willing to return to the rural area and those who were already returning to the rural area. In the fields of health care, social welfare, and education, it was found that the satisfaction level of urban-to-rural migrants was relatively higher than those of latent urban-to-rural migrants. In the field of culture, leisure and sports, the level of satisfaction and concern were similar, so it was found that the expectations for the field were relatively high before returning rural area. As for the agreement degree to expand support, the demand for emergency medical facilities and dementia care program was the highest, and the demand for health care was found to be relatively high. The results of the survey on the top priority items indicate that latent urban-to-rural migrants require support of facility and space item and expansion of program item, and urban-to-rural migrants have high demand for expansion of program item in all field except healthcare field. The results of this study are expected to provide useful information for establishing the direction of the rural area development project in connection with the revitalization of policy of people return to rural area.

• International Area Studies Review
• /
• v.20 no.1
• /
• pp.3-22
• /
• 2016

In this study, I examine mutual shock spillover effects among interest rate differences, won-dollar foreign exchange change rates, and stock market returns in Korea during the daily sample period from the beginning of 1995 to the October 16, 2015, using the multivariate GARCH (generalized autoregressive conditional heteroscedasticity) BEKK (Baba-Engle-Kraft-Kroner) model framework. Major findings are as follows. Throughout the 6 model estimation results of variance equations determining return spillovers covered from symmetric and asymmetric models of total sample period and two crisis sub-sample periods composed of Korean FX Crisis Times and Global Financial Crisis Times, shock spillovers are shown to exist mainly from stock market return shocks. Stock market shocks including down-shocks from the asymmetric models are shown to transfer to those other two markets most successfully. Therefore it is most important to maintain stable financial markets that a policy design for stock market stabilization such as mitigating stock market volatility.

• Journal of Digital Convergence
• /
• v.17 no.9
• /
• pp.115-126
• /
• 2019

This study is a survey of people who are return to farming on the intention of accepting ICT convergence technology in agriculture. The research targets were 218 people based on convenience and judgment sampling methods, and the exploratory factor analysis and multiple return analysis were performed with SPSS 22.0. As a result, the independent variables such as performance expectation, effort expectation, and social influence had a positive effect on the acceptance intention of ICT convergence technology in agriculture. In addition, the moderating effects of innovation resistance on these influence relationships were also verified. The limitations of this study are the lack of verification of perception changes and the inability to control variables. As a result of this research, the results of the UTAUT in other fields were confirmed in this study. It is hoped that this study will further facilitate the research of agriculture in ICT convergence technology.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.873-882
• /
• 2021

The study investigates the key factors that affect the adoption of the International Financial Reporting Standards (IFRS) by companies listed on Ho Chi Minh Stock Exchange (HOSE) in Vietnam. The factors that are studied in this research include total debt-to-equity ratio, firm size, return-on-equity ratio, audit quality, foreign investment, and financial institution category. The authors have utilized quantitative and qualitative analyses in combination with a logistics regression model and other available analytical tools for conducting the research. All statistics processed in the paper were based on 379 audited financial statements issued in 2018. The results reveal that factors like firm size, return on equity (ROE), audit quality, foreign investment, and financial institution category positively affect the IFRS adoption of HOSE-listed companies, while total debt-to-equity ratio negatively impacts the adoption. The findings suggest Vietnamese law and policy-makers, when promoting the adoption of IFRS by listed companies, should focus more on five variables with positive influence and they can disregard the total debt-to-equity ratio that is insignificant as a factor affecting the adoption of IFRS. This implication could be applied for other firms in Vietnam and for enterprises in other countries, which are in the same stage of IFRS application.