• The Journal of Asian Finance, Economics and Business
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• 제7권9호
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• pp.293-304
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• 2020

The study reveals the extent of changes in selective financial numbers caused by fixed asset revaluation (FAR) and explores whether there was a management motive for playing the financial numbers game through using the FAR model. The data set consists of a sample of 142 listed companies purposively selected from 13 industries. The study found a significant impact of FAR on the net asset value (NAV), fixed asset intensity (FAI), and debt-to-equity ratio (DER). These findings are supported by the political cost and the debt covenant hypotheses. The study also observed a high growth of fixed assets by 9.5% to 14,603.8% resulting from FAR. More revealing is that FAR increased NAV in revaluer companies by an average of 427.20% as compared to 6.86% in non-revaluer companies. Even some companies with negative NAV took resort on FAR to show positive NAV. Besides, revaluer companies managed to reduce their DER by 70.45% as opposed to an increase of 8.45% in non-revaluer companies. Hence, the study concludes that most of the publicly-listed companies are involved in financial numbers game by the use of the FAR model. To build confidence among investors, companies should practice FAR rightly and disclose related information to help reduce information asymmetry.

• Proceedings of the Technology Innovation Conference
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• 기술경영경제학회 2003년도 제22회 동계학술발표회 논문집
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• pp.173-190
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• 2003

Demand forecasting is essential in establishing national and corporate strategy as well as the management of their resource. We forecast demand for multi-generation product using discrete choice model combining diffusion model The discrete choice model generally captures consumers'valuation of the product's qualify in the framework of a cross-sectional analysis. We incorporate diffusion effects into a discrete choice model in order to capture the dynamics of demand for multi-generation products. As an empirical application, we forecast demand for worldwide DRAM (dynamic random access memory) and each of its generations from 1999 to 2005. In so doing, we use the method of 'Technological Forecasting'for DRAM Density and Price of the generations based on the Moore's law and learning by doing, respectively. Since we perform our analysis at the market level, we adopt the inversion routine in using the discrete choice model and find that our model performs well in explaining the current market situation, and also in forecasting new product diffusion in multi-generation product markets.

• Journal of Korean Society on Water Environment
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• 제31권3호
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• pp.272-285
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• 2015

Accurate assessment of chlorophyll-a (Chl-a) concentrations in inland waters using remote sensing is challenging due to the optical complexity of case 2 waters. and the inherent optical properties (IOPs) of natural waters are the most significant factors affecting light propagation within water columns, and thus play indispensable roles on estimation of Chl-a concentrations. Despite its importance, no IOPs retrieval model was specifically developed for inland water bodies, although significant efforts were made on oceanic inversion models. So we have applied and validated a recently developed Red-NIR three-band model and an IOPs Inversion Model for estimating Chl-a concentration and deriving inland water IOPs in Lake Uiam. Three band and IOPs based Chl-a estimation model accuracy was assessed with samples collected in different seasons. The results indicate that this models can be used to accurately retrieve Chl-a concentration and absorption coefficients. For all datasets the determination coefficients of the 3-band models versus Chl-a concentration ranged 0.65 and 0.88 and IOPs based model versus Chl-a concentration varied from 0.73 to 0.83 respectively. and Comparison between 3-band and IOPs based models showed significant performance with decrease of root mean square error from 18% to 33.6%. The results of this study provides the potential of effective methods for remote monitoring and water quality management in turbid inland water bodies using hyper-spectral remote sensing.

• Journal of the Korean Society of Marine Environment & Safety
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• 제21권6호
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• pp.645-654
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• 2015

This paper attempts to quantitatively assess the conservation value of Ellobium chinense (EC), which belongs to the endangered marine species designated by Ministry of Oceans and Fisheries. To this end, we apply the contingent valuation (CV) method, an economic technique of valuing a non-market goods such as EC. A national survey of randomly selected 1,000 households was administered in order to derive the public's willingness to pay (WTP) for conserving EC. One-and-one-half-bound model was adopted to elicit the WTP responses and a spike model was employed to deal with the zero WTP responses. The results show that the conservation value of EC is estimated to be 2,346 won per household per year that is statistically significant at the 1% level. Expanding the value to the national population gives us an annual value of 43.8 billion won. We can judge that the Korean people are willing to pay a significant amount to conserve EC.

• Journal of Satellite, Information and Communications
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• 제6권2호
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• pp.15-19
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• 2011

The T-DMB(Terrestrial Digital Multimedia Broadcasting) which was developed by the convergence of digital broadcasting technology and communication technology provides us with very good quality of music like CD, and provides TV services in a super express train like the KTX whose velocity is over 300 Km per hour. The T-DMB is diffusing toward the world as a technology which is be able to provide the various convergent services of broadcasting and communication through mobile phone, PDA, dedicated terminal, and so on. A business model needed for the diffusion of the T-DMB toward the world was established and utilized to expand the T-DMB into Vietnam in the paper. In addition, this paper describes not only some predicting methods for the technological valuation of the T-DMB Total Solution, but also a case study on the marketing related to establishing the T-DMB system in order to provide the paid services in Vietnam. Finally, A couple of business models needed to globally expand the T-DMB have been provided.

• Journal of Korea Water Resources Association
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• 제52권12호
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• pp.1011-1023
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• 2019

Rapid urbanization increases the risk of hydrologic disasters due to the increase of impervious areas in urban areas. Precipitation characteristics can be transformed due to the rise of global temperatures. Thus urban areas with the increased impervious areas are more exposed to hydrological disasters than ever before. Therefore, low impact development practices have been widely installed to rehabilitate the distorted hydrologic cycle in the urban area. This study used the Stormwater Management Model to analyze the water quantity and quality of the Mokgamcheon which had been severely urbanized, considering future climate scenarios presented by various general circulation models (GCMs). In addition the effectiveness of permeable pavement by 27 sub-watersheds was simulated in terms of water quantity and quality considering various GCMs and then the priorities of sub-watersheds were derived using an alternative valuation index which uses the pressure-state-response framework.

• Journal of the Korean Society of Environmental Restoration Technology
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• 제17권1호
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• pp.111-122
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• 2014

The provided habitat of many services from natural capital is important. But because most ecosystem services tools qualitatively evaluated biodiversity or habitat quality, this study quantitatively analyzed those aspects using the species distribution model (MaxEnt). This study used location point data of the goat(Naemorhedus caudatus), marten(Martes flavigula), leopard cat(Prionailurus bengalensis), flying squirrel(Pteromys volans aluco) and otter(Lutra lutra) from the 3rd National Ecosystem Survey. Input data utilized DEM, landcover classification maps, Forest-types map and digital topographic maps. This study generated the MaxEnt model, randomly setting 70% of the presences as training data, with the remaining 30% used as test data, and ran five cross-validated replicates for each model. The threshold indicating maximum training sensitivity plus specificity was considered as a more robust approach, so this study used it to conduct the distribution into presence(1)-absence(0) predictions and totalled up a value of 5 times for uncertainty reduction. The test data's ROC curve of endangered mammals was as follows: growing down goat(0.896), otter(0.857), flying squirrel(0.738), marten(0.725), and leopard cat(0.629). This study was divided into two groups based on habitat: the first group consisted of the goat, marten, leopard cat and flying squirrel in the forest; and the second group consisted of the otter in the river. More than 60 percent of endangered mammals' distribution probability were 56.9% in the forest and 12.7% in the river. A future study is needed to conduct other species' distribution modeling exclusive of mammals and to develop a collection method of field survey data.

• Journal of the Korea Academia-Industrial cooperation Society
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• 제8권4호
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• pp.881-893
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• 2007

IT(Information Technology)-based industries have caused a recent digital revolution and the appearance of various types' information service, being largely expanded toward info-communication device company, info-communication service company, software company etc.. Therefore, the needs to evaluate the company value of IT business for M&A or liquidation are growing tremendously. Unlike other industries, however, IT industry has a short lift cycle and so it doesn't have not only a company value-evaluating model for general businesses but the objective one for IT companies yet. So, this thesis analyzes various value-evaluating technique and newly rising ROV. DCF, the change method of company's cash flow including tangible assets into future value, had been applied during the past industrialization economy era and has been persuasively applied to the present. However, the DCF valuation has no option but to make many mistakes because IT companies have more intangible assets than tangible assets. Accordingly, it is ROV, recognized as the new method of evaluating companies' various options normally and quantitatively, that is brought up recently. But the evaluation on the companies' various options is too subjective and theoretical up to now and due to the lack of objective ground and options, it's not possible to be applied to reality. In this thesis, it is found that ROV is more accurate than DCF, comparing DCF and ROV through four examples. As the options applied to ROV are excessively limited, we tried to develop ROV into a new method by deriving five invisible value factors within IT companies. Therefore, on this occasion, we should set up the basic valuation methods on IT companies and should research and develop an effective and various valuation methods suitable to each company like an internet-based company, a S/W developing enterprise, a network-related company among IT companies.

• Journal of Digital Convergence
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• 제11권5호
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• pp.159-168
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• 2013

This study analyze the business efficiency of securities company based on the 2011 performance of 29 securities firms which engage in domestic investment brokerage by applying a combination model of BSC and DEA. And we evaluate business state focused on efficiency which is based on logical system of BSC as business innovation method. The analysis of result is that companies with high customer efficiency index appeared that business efficiency composite index tended to be higher and we identified that customer perspective have an important factor to calculate business efficiency composite index of korea security company. In addition, based on the results of the efficiency analysis we analyze correlation analysis between traditional financial ratio and business efficiency composite index. We confirmed that company of high business efficiency level in terms of BSC have a good record in terms of profitability. BSC-DEA combination model expect to be utilized in security industry sector as well as other industrial sectors as good business indicator to determine the business efficiency and to be used a model can be evaluated the integrated firm valuation of tangible and intangible assets.

• Journal of Korea Water Resources Association
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• 제52권10호
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• pp.707-718
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• 2019

The optimal water allocation pursues a reliable and economic supply of water resources to meet various interests in socio-economic-environmental aspects. The global water shortage has intensified due to climate change and population growth with limited water resources. Thus, the water management scheme has shifted to improve water use efficiency by proper demand management and water allocation planning. Here, a hydro-economic water allocation model, called WAMM (Water Allocation and Management Model) is introduced. The WAMM is equipped with an improved linear programming algorithm for optimal water allocation and estimates economic value of water supply as an objective of water