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Incorporating Ex-Ante Risk in Evaluating Public R&D Programs: A Counterfactual Analysis of the Korean Case

  • Kim, So Young
    • STI Policy Review
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    • v.4 no.2
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    • pp.41-54
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    • 2013
  • R&D is inherently an uncertain endeavor, yet now more than ever those performing R&D with public funding are called upon to clarify the utility of their research. Calls for public accountability are mounting with the increase in constraints on government budgets due to the recent worldwide economic recession, in response to which both policymakers and researchers pay much more attention to rigorously assessing publicly funded R&D. A key issue complicating R&D evaluation in these circumstances is how to adequately account for the nature and degree of risk involved in a given R&D program or project. This study deliberates on certain issues involving the measurement of ex-ante risk in public R&D evaluation: (i) information asymmetry between R&D sponsors and performers, (ii) ambiguity in the measurement of returns in both prospective and retrospective evaluation, and (iii) the dilemma between measurement error and omitted variable bias for empirical estimation of R&D performance. The study then presents an analysis of hypothetical evaluation results that apply risk-relevant weights to the annual evaluation outcomes of South Korea's national R&D programs funded during 2006~2012. In this counterfactual re-evaluation of public R&D program performance, high-risk R&D programs turn out to receive higher evaluation than non-high-risk programs. The current study suggests that R&D evaluation ignoring ex-ante risk is not only conceptually invalid since R&D activities are intrinsically uncertain endeavors, but unfair as R&D performers are asked to be accountable for the results that were in fact out of their reach.

A Method for Describing the Information of the Broadcasting Program's Time-Slots and Its Application to a Data Service (방송프로그램의 구간 별 부가정보 기술 방법과 이를 활용한 데이터서비스 개발 사례)

  • KO, Kwangil
    • Convergence Security Journal
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    • v.15 no.4
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    • pp.19-25
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    • 2015
  • Although the data service of the digital broadcasting has been regarded as the representative service of the broadcasting and communication convergence, it, however, has failed to gain the popularity with the viewers due to the viewer's viewing modality of focusing only on the TV programs. Based on the experts' opinions that the data service should step up so that using a data service while watching a TV program creates a synergy effect, the paper proposes a method for allowing a data service to utilize the information of a TV program. The method has a tool for describing the information of a TV program's content, which changes as time goes on and provides a mechanism for transmitting the information in the way compatible to the digital broadcasting standard. As an application of the method, with a domestic data service developing company, we have developed a ticker data service that shows the information (e.g., actors, places, sponsors, etc.) of a drama.

The Characteristics of Sports Marketing Activities Conducted by Full-Service Advertising Agencies in Korea (한국 종합광고회사의 스포츠마케팅 특징)

  • Shin, Jae-Hyoo
    • The Journal of the Korea Contents Association
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    • v.10 no.3
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    • pp.381-391
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    • 2010
  • This study aims to understand the characteristics of sports marketing businesses of the 10 largest advertising agencies which lead the advertising market in Korea. To do that, the present author has investigated into the traits of the advertising market in Korea and how the characteristics are connected to sports businesses of the advertising agencies, with a focus on the current condition of sport marketing businesses of the agencies. The sports marketing business of the 10 largest advertising agencies in Korea was described by the fact that they did not create profits through sports business but just conducted their sports marketing activities mainly related to the sponsorship and event planning for communicating their parent companies. Such the characteristics of the advertising agencies is attributed to their nature that they are in-house agencies of large companies. The agencies engage in a variety of sports promotion sectors aligned with the intended business directions of their sponsors, however they are encountering considerable challenges in the aspect of sports business focused on property.

A Study on the Transition of Design of Korean Soccer Uniform -Based on national soccer players uniform- (한국 축구 유니폼 디자인 변천에 관한 연구 -국가대표 축구선수 유니폼을 중심으로-)

  • 조영아;손영미
    • Journal of the Korean Society of Costume
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    • v.52 no.7
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    • pp.103-121
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    • 2002
  • This study intended to analyze the transition of design of Korean soccer player's uniform according to development of the society and changes in formative elements, and examine features inside them by considering designs of soccer player's uniform by ages ranging from the introduction of soccer up to now. Results of the study are summed up below. First, as a result of analyzing designs of soccer player's uniforms from 1920 to 2002 Korea-Japan WorldCup based on formative elements of the style of dress. \circled1 it is shown that basic shape has been kept but changes in only color. cutting, trimming, logo and symbol have existed. \circled2 Colors of the uniforms have been different according to ages but red, blue and white colors have been used most and sometimes black was employed. so it is known that colors in the Korean national emblem have been all used. \circled3 In the beginning of the uniform there was a limitation in its design due to absence of functional materials but now highly-sensitive textile products and highly-functional textile materials guaranteeing optimal condition and highest activity of a soccer player have been utilized in various ways. \circled4 It is known that symbols modelling the image of Korea have been used in diverse ways but effected much by directions toward images pursued by designers of sponsors. Second, the meanings represented by designs of the uniforms are classified into a degree of symbolizing Korea, tradition, superiority and dynamics. That is to say, \circled1as colors and symbols coming from the emblem have been used in the uniforms. they have symbolized one nation and possessed the meaning representing even Korean national spirit. \circled2As traditional colouring and symbols have been used in the uniforms, they have shown the Korean sense of a beauty. \circled3 Colors, tones and designs overwhelming the mood of play have been used in the uniforms, so that they have played a role in making players of other team flinch mentally and making Korean players gain an advantage over them. \circled4 Thanks to strong symbols or comparative effects of colors. they have shown the dynamics representing power and energy.

The Recent Trend of R&D Investment in Korean Medicine by Research Steps and Fields (연구단계와 분야에 따른 한의약 R&D 투자 동향)

  • Kwon, Soo Hyun;Kim, Dongsu;Ahn, Mi Young;Lim, Byungmook
    • Journal of Society of Preventive Korean Medicine
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    • v.21 no.2
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    • pp.69-78
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    • 2017
  • Objectives : This study aims to analyze the public investment for Korean Medicine R&D to facilitate the future strategic planning. Methods : All government supported research projects for Korean Medicine that were invested in 2009, 2012, 2015 were searched in the NTIS (National Science & Technology Information Service) Database. Research budgets were analyzed by government departments, R&D agents, R&D steps, and research fields. CAGR (Compound Annual Growth Rate) was derived from each Korean Medicine research field. Differences of research budgets among research fields were tested using Chi square analysis. Results : A total of 891 projects supported in 2009, 2012, and 2015 was analyzed. The amount of research budgets has increased, from 49,839 million won in 2009 to 106,536 million won in 2015 showing 13.5% of CAGR. Ministry of Science, ICT, and Future Planning, and Ministry of Health and Welfare were the biggest sponsors in Korean Medicine R&D. Chi square analysis showed that, in this period, there were statistically significant differences of research budgets in Korean Medicine technology equipment field and infrastructure field. Conclusions : To diversify the Korean Medicine R&D, unequal research funding among government departments should be relieved, and virtuous cycle of Industry-University-Institute Collaboration in Korean Medicine need to be built.

Risk Mitigation for Independent Power Producer Projects in Developing Countries Based on Case Studies (사례연구를 통한 개발도상국 민자발전사업 리스크 경감방안)

  • Yoon, Young-Il;Yoo, Ho-seon;Yeo, Yeong-Koo
    • Plant Journal
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    • v.9 no.1
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    • pp.50-57
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    • 2013
  • This study investigates the risks that can occur during the development stage of IPP project in developing countries. In case that ECA and MLA cannot participate due to poor credit rating of the country, the diversification of power purchaser in marginal states can be a great help to reduce both market risk and country risk at the same time. In case of thermal power plants and combined cycle power plants, the effect of performance degradation as time passed will be considered and expected profit of sponsors should be maintained. Recently, developing countries are expanding IPP projects to reduce the financing cost and Korean power companies are positively participating in IPP projects. Accordingly, the loss of Korean companies should be minimized by risk management through the risk mitigation methods of this study.

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A Method for Delivering Updated Information of Characters to a Drama-bound Data Srvice (드라마 연동 데이터 서비스의 최신 캐릭터 정보전달 방법 설계)

  • KO, Kwangil;Kim, Hye-kyun
    • Convergence Security Journal
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    • v.17 no.2
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    • pp.119-126
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    • 2017
  • Although the data service of the digital broadcasting has been regarded as the representative service of the broadcasting and communication convergence, it, however, has failed to gain the popularity with the viewers due to the viewer's viewing modality of focusing only on the TV programs. Based on the experts' opinions that the data service should step up so that using a data service while watching a TV program creates a synergy effect, the paper proposes a method for allowing a data service to utilize the information of a TV program. The method has a tool for describing the information of a TV program's content, which changes as time goes on and provides a mechanism for transmitting the information in the way compatible to the digital broadcasting standard. As an application of the method, with a domestic data service developing company, we have developed a ticker data service that shows the information (e.g., actors, places, sponsors, etc.) of a drama.

Effects of the contingent liabilities caused by project financing on financial status of the Korean construction firms (프로젝트금융으로 인한 우발채무가 건설기업의 재무상태에 미치는 영향)

  • Kang, Namhui;Kim, Hyunjoong;Choi, Jaehyun
    • Korean Journal of Construction Engineering and Management
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    • v.16 no.6
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    • pp.84-91
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    • 2015
  • Project Financing (PF) is a financing method, executed based upon the projected profitability from a project itself instead of relying on the credit rating of project sponsors or any type of collateral. However, most financial institutions of Korea lacks the long term profitability assessment capability, and they prefer to acquire credit reinforcement from the construction companies in the form of the guarantor or debt argument commitments. As a result, PF contingent liabilities as an indirect debt, are burdened to the construction companies. Even though the PF contingent liabilities are not supposed to be part of the financial statements, they became a mandatory disclosure items since 2009. In this study, PF contingent liabilities were studied to indicate how they were correlated with construction firms' financial ratios. Construction firms were grouped by their credit rating and each group was compared in order to analyze PF contingent liabilities' impact on the financial condition of the company in terms of liquidity, liability, and stability.

Fire research in Sweden for 1997-99

  • Arvidsson, Tommy
    • Proceedings of the Korea Institute of Fire Science and Engineering Conference
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    • 1997.11a
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    • pp.44-48
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    • 1997
  • The Swedish Fire Research Board was established in 1979 to initiate and fund relevant fire research efforts. The Board is responsible for a long term research programme revised every third year, and the Board is one of two major Swedish sponsors of all fire research. Beside the Board we also have the Swedish National Rescue Services, funded by the government. BRANDFORSK gives very high priority for the industry and the insurance company and the need they express for fire research. Research that the Rescue Services Board are funding is mainly focusing the need for the fire department. The Swedish Fire Research Board, BRANDFORSK, is the joint agency of the Swedish government, the insurance industry and the business sector, for the initiation, funding and supervision of different kinds of fire research. Work is directed by a Programme Board and is performed in the form of projects at universities, research institutes, state authorities and private firms. The Secretariat of BRANDFORSK shares the premises of the Swedish Fire Protection Association, SFPA, and the SFPA is the principal and the party which enters into agreement with the State. The programme for the period 1997-1999 has been drawn up on the basis of both damage development and the trends in society which can be noted, and the evident fire problems of the interested parties and their need for fire research. The inputs in the programme have been broken down seven problem areas. In every problem area different project areas are set out, and these primarily specify the aim of the work. Our seven problem-areas are; Costs and benefits of fire protection measure. The role and behaviour of people and organizations Fire In buildings Fire in underground facilities Rescue operations fire in industries Fire and the environment. In comparison with previous fire research programmes, cost/benefit studies have been accorded higher priority, and this is also reflected in other problem areas. Grater Emphasis

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A Study on Current State and Typology of Korea Company Gallery since 1990 (1990년대 이후 한국 기업미술관의 현황 및 유형에 관한 연구)

  • Kim, Hyeok-Ki
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.5
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    • pp.3203-3212
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    • 2014
  • Company. s support for culture and arts started from mecenat activities. After then, it played a role as a tool of the company to satisfy consumers. cultural desires and improve the company. s image. As time goes by, it became a culture marketing which encourages business activities. Therefore, many companies try to develop their culture marketing activities in various fields. Especially art marketing has increased consumers. expectation and interest about art activities. Also, art marketing has become important as it has helped consumers to have critical view about products and improve their standard of life. As a way of art marketing, a company provides diverse exhibitions, sponsors and education programs related to art in either a specific space of the company building or a separate place. It can be said that this example of art marketing is a kind of an image marketing and public welfare at the same time. This article presents the concept of culture marketing and current condition of company. s support for culture and arts. In addition, the article depicts the concept and classification of art marketing. Furthermore, through analysis of company exhibition space and programs, the article illustrates the features and typology of art galleries managed by companies.