• Title/Summary/Keyword: Valuation

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Impact of Net-Based Customer Service on Firm Profits and Consumer Welfare (기업의 온라인 고객 서비스가 기업의 수익 및 고객의 후생에 미치는 영향에 관한 연구)

  • Kim, Eun-Jin;Lee, Byung-Tae
    • Asia pacific journal of information systems
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    • v.17 no.2
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    • pp.123-137
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    • 2007
  • The advent of the Internet and related Web technologies has created an easily accessible link between a firm and its customers, and has provided opportunities to a firm to use information technology to support supplementary after-sale services associated with a product or service. It has been widely recognized that supplementary services are an important source of customer value and of competitive advantage as the characteristics of the product itself. Many of these supplementary services are information-based and need not be co-located with the product, so more and more companies are delivering these services electronically. Net-based customer service, which is defined as an Internet-based computerized information system that delivers services to a customer, therefore, is the core infrastructure for supplementary service provision. The importance of net-based customer service in delivering supplementary after-sale services associated with product has been well documented. The strategic advantages of well-implemented net-based customer service are enhanced customer loyalty and higher lock-in of customers, and a resulting reduction in competition and the consequent increase in profits. However, not all customers utilize such net-based customer service. The digital divide is the phenomenon in our society that captures the observation that not all customers have equal access to computers. Socioeconomic factors such as race, gender, and education level are strongly related to Internet accessibility and ability to use. This is due to the differences in the ability to bear the cost of a computer, and the differences in self-efficacy in the use of a technology, among other reasons. This concept, applied to e-commerce, has been called the "e-commerce divide." High Internet penetration is not eradicating the digital divide and e-commerce divide as one would hope. Besides, to accommodate personalized support, a customer must often provide personal information to the firm. This personal information includes not only name and address, but also preferences information and perhaps valuation information. However, many recent studies show that consumers may not be willing to share information about themselves due to concerns about privacy online. Due to the e-commerce divide, and due to privacy and security concerns of the customer for sharing personal information with firms, limited numbers of customers adopt net-based customer service. The limited level of customer adoption of net-based customer service affects the firm profits and the customers' welfare. We use a game-theoretic model in which we model the net-based customer service system as a mechanism to enhance customers' loyalty. We model a market entry scenario where a firm (the incumbent) uses the net-based customer service system in inducing loyalty in its customer base. The firm sells one product through the traditional retailing channels and at a price set for these channels. Another firm (the entrant) enters the market, and having observed the price of the incumbent firm (and after deducing the loyalty levels in the customer base), chooses its price. The profits of the firms and the surplus of the two customers segments (the segment that utilizes net-based customer service and the segment that does not) are analyzed in the Stackelberg leader-follower model of competition between the firms. We find that an increase in adoption of net-based customer service by the customer base is not always desirable for firms. With low effectiveness in enhancing customer loyalty, firms prefer a high level of customer adoption of net-based customer service, because an increase in adoption rate decreases competition and increases profits. A firm in an industry where net-based customer service is highly effective loyalty mechanism, on the other hand, prefers a low level of adoption by customers.

Patterns of Cash Payments for Care : Cross-National Comparative Study (장기요양 현금급여 정책의 국가간 비교 연구)

  • Seok, Jae-Eun
    • Korean Journal of Social Welfare
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    • v.58 no.2
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    • pp.273-302
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    • 2006
  • The introduction of cash payments for care is a distinct trend that characterizes changes in care policies since the 1990s. Recently, many developed countries have newly introduced or extended cash payments for care that allow care users to be able to plan themselves for their cares instead of receiving direct care services from the state. Cash payments for care can be said to be one of the alternative policies by which user choices are extended, and it becomes possible to establish demand-cantered care delivery systems more economically and effectively, hence addressing the issue of the financial limitations and rigid systems that are common in modern welfare states, which make it difficult to response to various needs. However, the design and administration of cash for care vary across different countries. Such variations of cash for care policies influence on the combination of consumerism (based on liberal market values intrinsic in the care market) and citizenship based on social solidarity. Those variations eventually produce impacts on the balance of responsibilities and the roles of families, the state and market regarding care in other words, balancing of welfare pluralism. This paper has attempted to find general meanings and particularity of cash for care polices in modem welfare states by means of looking at the characteristics of cash for care policies of four different countries (Netherlands, France, Germany and Italy) and their impacts on their care market. If the four countries are ranked by the degree that they emphasize citizenship in light with social rights, the Netherlands, France, Germany and Italy could be placed in due order. From an economic point of view and in terms of cost containment, those countries will be placed in an inverse order, It is apparent that in the course of planting cash for care policies in the existing social systems involving different socio-cultural conditions and labour markets, sometimes more emphasis is placed on the citizenship of care users, family carers and care providers than on cost containment issue, and sometimes vice versa. Behind this lies the process of different social valuation on what care is about; who can better deliver care; who should be responsible for care; how responsibilities should be shared and so on.

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Assessment Research Comparing the Environmental Value of Taebaeksan·NakSan·Kyeongpo Provincial Parks of Kangwon-do (태백산, 낙산, 경포도립공원의 환경가치비교 평가연구)

  • Kang, Kee-Rae;Kim, Dong-Pil;Cho, Woo;Baek, Jae-Bong
    • Korean Journal of Environment and Ecology
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    • v.30 no.2
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    • pp.253-260
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    • 2016
  • This research aimed to quantitatively measure the environmental values of Taebaeksan, Naksan, and Gyeongpo provincial parks located in Gangwon-do. The research was based on the CVM technique which estimates the economic values for all kinds of ecosystem. Also, the estimated value of environment goods can suggest the magnitude of additional utility other than the cost people pay when they visit the provincial parks. Such result can be used as basic data in addition to information on natural ecology or cultural landscape to decide whether the park should be promoted as a national park. The questionnaires-collected from Taebaeksan(180 copies), Naksan(179 copies), and Gyeongpo(180 copies) provincial parks were used to measure the environmental value of each provincial park. Variables that affect the response of 'yes(Y)' or 'no(N)' to the cost suggestion for the economic valuation of environment are estimated under the catagories of environment conservation status (env.), degree of park management (manage.), environmental conservation effort, education (edu.), and income (inc.) of the respondents (execu.), pertaining to the 3 provincial parks in Gangwon-do. The value of natural environment to 1 visitor to the 3 Gangwon provincial parks was estimated by the Logit method that Hanemann proposed using the average of inserted variables. The results showed that the additional environmental value that 1 visitor can gain is 44,060 won for Taebaeksan Provincial Park, 41,191 won for Naksan, and 41,844 won for the Gyeongpo Provincial Park. Taebaeksan Provincial Park's environmental value is estimated at the highest as the respondents judge that its natural environment is well preserved and the facilities are managed well.

A Study on the Traditional Geographic System Recognition and Environmental Value Estimate of Hannamkeumbuk-Keumbuk Mountains for the Establishment of a Management Plan (관리계획 수립을 위한 한남금북.금북정맥의 전통적 지리체계인식과 환경가치 추정 연구)

  • Kang, Kee-Rae;Kim, Dong-Pil
    • Journal of the Korean Institute of Landscape Architecture
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    • v.40 no.1
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    • pp.23-33
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    • 2012
  • In this study, how much users of Hannamkeumbuk Keumbuk Mountains are aware of Baekdaegan and its attached mountain chains, a traditional geographic system, according to Sangyungpyo and basic data like the degree of awareness and use-behaviors, etc. have been studied. In addition, the environmental value of Hannamkeumbuk Keumbuk Mountains separating the central and the southern part of Korea among attached mountain ranges, secondary mountain chains, which act as an ecosystem buffer in the Baekdudaegan Range, has been estimated at the current amount of currency. In the questions of the perception of the traditional classification standard of mountain chains and Baekdudaegan, more than 70% of respondents answered that they had heard of or known them but 66.8% werenot aware of Hannamkeumbuk Keumbuk Mountains. While the awareness for Baekdudaegan is high, the perception of its attached mountain chains was very poor. DBDC responder system and CVM, which is used widely for the value estimate method of environment goods, were used. As the result, an additional benefit got when a person visits Hannamkeumbuk Keumbuk mountains was estimated as 5,813 won. It could find out that this amount was very low compared with 51,984 won, average visit cost. It judged that the reason was that damage of environmental conditions, the monotony of the trails and progress of indiscriminate environmental destruction, etc. The results of this study will offer a new perspective on public relations activities and resource conservation of Baekdudaegan and its attached mountain chains and estimate perceptions and efficient services for visitors to HannamKeumbuk Keumbuk Mountains. This study will act as data for basic planning and management to increase the mountains' value and to preserve them. Further studies are needed to make a frame of work division and management with various organizations so that the management of Hannamkeumbuk-Keumbuk Mountains may be properly established and their value may been hanced.

A Study about the Presumed Economic Value of Miscanthus Landscape Conservation - Miscanthus Colonies in Youngnam Province - (억새경관보전의 경제적 가치 추정에 대한 연구 - 영남지역 대규모 억새군락을 대상으로 -)

  • Park, Seul-gi;Lee, Sang-Cheol;Kang, Gi-lae;Choi, Song-Hyun
    • Journal of the Korean Institute of Landscape Architecture
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    • v.44 no.4
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    • pp.1-13
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    • 2016
  • To detail a picture of the economic value of Miscanthus landscape conservation in terms of cultural services aspects of Ecosystem Services, Sunghaksan(Mt.), Hwawangsan(Mt.) and Jaeyaksan(Mt.), which are known for their Miscanthus colonies, were chosen as survey sites. After examining the willingness to pay for the value of Miscanthus landscape conservation by targeting of visitors each study area, the economic value of Miscanthus landscape conservation per capita aspects was evaluated using Contingent Valuation Methods(CVM) from the collected willingness to pay for economic value of Miscanthus scenery by site. After using the target Chi-square test to analyze the differences among each site, the correlation between specific variables was investigated. Willingness to pay for the Miscanthus landscape conservation was found to increase as the respondents' income became higher. The more environmental conservation efforts were being made in their daily life, the higher willingness to pay was for Miscanthus landscape conservation. Likewise in other studies, the higher the bid was, the less willingness to pay was. The per capita assessment of the Miscanthus landscape value of the logit models in the dual estimated using the factor extracted with each of the injected variable bounds was estimated for Seunghaksan (\38,277), Hwawangsan(\38,648), and Jaeyaksan(\48,891). The average of the three sites was estimated to be \38,679. Assessment of the economic value of these Miscanthus landscape sites saw high willingness to pay by visitors when compared to the current market price inflation, such as watching movies or amusement park admission, which could mean that visitors recognize the value of ecosystem services from nature in evaluating the Miscanthus landscape.

A Study on Measuring the Environmental Value of Gyeongnam Arboretum Using the CVM (가상가치측정법(CVM)을 이용한 경남수목원의 환경가치추정 연구)

  • Kang, Kee-Rae;Ha, Sung-Gyone;Lee, Kee-Cheol
    • Journal of the Korean Institute of Landscape Architecture
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    • v.39 no.1
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    • pp.46-55
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    • 2011
  • The importance of forests and plants are appreciated by all of us, but it is often overlooked because we are surrounded by it. The arboretum is one of facilities which provide users with education on the environment, knowledge about plants, and recreation, playing a role as a nature school by exhibiting and collecting plants of various ecosystems. Anyone can enjoy fresh air, a pleasant environment, and knowledge about a wide variety of plants on the condition that they aactually visit it and pay the entrance fee. However, it has not been measured whether the expense which users pay to enjoy an arboretum is a true value of arboretums. The environment that arboretums offer is extra-market goods, or public goods. A variety of ideas and methods to measure the value of public goods have been researched among economists, statisticians, and mathematicians. The Contingent Valuation Method(CVM) is most widely used a s an assessment method on environment goods and adopted as an estimation method for compensation for restoration of the environment by the American Supreme Court. The purpose of this study is to suggest a current monetary value correspondingent to the value of arboretums by applying the CVM. The survey suggested that when an arboretum provides a high educational value and when the respondents have a higher income, it is more likely that they would be willing to pay for entrance into the arboretum. The quantified value in monetary terms for the environmental value of Gyeongnam Arboretum is WTP mean \15,648; WTP median \13,648; and WTP truncated \15,449 per visitor. In annual terms, the amounts are calculated at WTP mean \8,408,265,024; WTP median \7,333,589,024; and WTP truncated \8,301,334,762. These quantified amounts can be thought to represent the value of conservation of arboretums and awaken users to the precious value of nature. Also, they are helpful to let the general public have proper knowledge about and recognize the value of arboretums and forests.

A Study on the Factors Affecting the Success of Technology Marketing (기술마케팅 성공에 영향을 미치는 요인에 관한 분석)

  • Hwang, Nam-Gu;Oh, Young-Ho;Kim, Kyoung-Jin
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.11 no.7
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    • pp.2358-2370
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    • 2010
  • This research aims to empirically analyze the factors that affect the success of technology marketing by Korean universities. The total of 207 universities which successfully made technology transfers from 2006 to 2008 was examined to test the nine hypotheses. For the purpose of testing the hypotheses, technology infrastructure (research costs and the number of SCIE papers), the compensation system for the patents (application and registration), the number of patents (application and registration), TLO staff (the number of people in charge of technology transfer and the job experience in industries), the compensation system for technology transfers (researchers and contributors), and attitudes of university management and industries were analyzed with structural equation methods to figure out their effects on the revenues of technology transfer. The results of this research are summarized as follows. First, technology infrastructures of universities were found to have positive effects on securing patents. As the university research costs in the field of science and technology are increases, the research capabilities are enhanced and this a larger number of researchers are conducted. Second, this research shows that compensation systems for patent application and registration in universities have motivated researchers to take out patents for the outputs of their research. Third, the number of patents universities possess was found to have a positive effect on technology transfer. An increase in the number of patents universities possess implies an increase in the diversity and excellence of the target technologies for transfer. Fourth, the number of patents universities possess turned out to have a positive effect on TLO staff. The number of experts in charge of technology transfer including technology dealers, valuation analysis and patent attorneys should be increased as target technologies for transfer increase according to the increase of patents possessed. Because the technologies are transferee from universities to businesses, businesses (job) experience of TLO staff in industries are also important. This research is meaningful because it has identified the factors affecting the results of technology transfer by employing structural equation methods. In particular, an official governmental survey data for the academic-industrial cooperation were analyzed systematically in terms of technology infrastructure, compensation systems related to patents, the number of patents, TLO staff, compensation systems for technology transfer, and attitudes of university management and industries. All these facts might could differentiate this study from the previous studies.

Development and Application of the High Speed Weigh-in-motion for Overweight Enforcement (고속축하중측정시스템 개발과 과적단속시스템 적용방안 연구)

  • Kwon, Soon-Min;Suh, Young-Chan
    • International Journal of Highway Engineering
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    • v.11 no.4
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    • pp.69-78
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    • 2009
  • Korea has achieved significant economic growth with building the Gyeongbu Expressway. As the number of new road construction projects has decreased, it becomes more important to maintain optimal status of the current road networks. One of the best ways to accomplish it is weight enforcement as active control measure of traffic load. This study is to develop High-speed Weigh-in-motion System in order to enhance efficiency of weight enforcement, and to analyze patterns of overloaded trucks on highways through the system. Furthermore, it is to review possibilities of developing overweight control system with application of the HS-WIM system. The HS-WIM system developed by this study consists of two sets of an axle load sensor, a loop sensor and a wandering sensor on each lane. A wandering sensor detects whether a travelling vehicle is off the lane or not with the function of checking the location of tire imprint. The sensor of the WIM system has better function of classifying types of vehicles than other existing systems by detecting wheel distance and tire type such as single or dual tire. As a result, its measurement errors regarding 12 types of vehicle classification are very low, which is an advantage of the sensor. The verification tests of the system under all conditions showed that the mean measurement errors of axle weight and gross axle weight were within 15 percent and 7 percent respectively. According to the WIM rate standard of the COST-323, the WIM system of this study is ranked at B(10). It means the system is appropriate for the purpose of design, maintenance and valuation of road infrastructure. The WIM system in testing a 5-axle cargo truck, the most frequently overloaded vehicle among 12 types of vehicles, is ranked at A(5) which means the system is available to control overloaded vehicles. In this case, the measurement errors of axle load and gross axle load were within 8 percent and 5 percent respectively. Weight analysis of all types of vehicles on highways showed that the most frequently overloaded vehicles were type 5, 6, 7 and 12 among 12 vehicle types. As a result, it is necessary to use more effective overweight enforcement system for vehicles which are seriously overloaded due to their lift axles. Traffic volume data depending upon vehicle types is basic information for road design and construction, maintenance, analysis of traffic flow, road policies as well as research.

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The Change of the Knowledge Field in a Transition Period based on the Transition of the Status of Chinese Novels - Focusing Liang Qichao's Assertion, the Revolution of the Novel World (중국소설의 위상 변천으로 본 과도기 지식 장(場)의 변화 - 양계초(梁啓超)의 소설계혁명(小說界革命)을 중심으로 -)

  • Jung, Sun Kyung
    • (The)Study of the Eastern Classic
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    • no.55
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    • pp.115-145
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    • 2014
  • In this paper, the transition of the status of Chinese novels and the change of the knowledge field in the modern times from the end of 19th century to the early 20th century, the transition period between the tradition and the modern times, have been investigated based on Liang Qichao's assertion of the Revolution of the Novel World. How the traditional novels have been evaluated, how modern novels enlightened a people and changed the political society, and what role novels acted in the change of the knowledge field are investigated. Especially I looked into the accumulations of knowledge and changes inside China which were overlooked in the previous researches which focused on the inflow of the Western culture and its impact on Chinese culture. Firstly the evaluation and classification of the traditional novels are considered. Because the transition of the status of novels and the classification method of the catalog of books are tightly coupled with the change of academic ideologies. Later I tried to understand novels as a way of thinking the modern times with a discussion on the changes of modern knowledge society and the consideration of Liang Qichao's Revolution of the Novel World in the two viewpoints, i.e. the relationship between novels and political society, and novels and the style of writing. Liang Qichao raised novels to the topmost position of literature. He pushed the traditional poetry off the top position and replaced it with popular novels. As the outside impact of Western culture made Chinese novels a tool for enlightening the ignorant people and the medium of propagating the knowledge, the status of novels was elevated to the highest level which novels had never reached in the past. With the limitation that the valuation was not based on the aesthetic appreciation of art but based on the value for politics and society, novel was a discourse of life and death to save the country and a container of knowledge to rebuild the people's mind and convert the crisis of the national ruin.

A Study on the Ecosystem Services Value Assessment According to City Development: In Case of the Busan Eco-Delta City Development (도시개발에 따른 생태계서비스 가치 평가 연구: 부산 에코델타시티 사업을 대상으로)

  • Choi, Jiyoung;Lee, Youngsoo;Lee, Sangdon
    • Journal of Environmental Impact Assessment
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    • v.28 no.5
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    • pp.427-439
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    • 2019
  • Natural environmental ecology ofthe environmental impact assessment(EIA)is very much lacking in quantitative evaluation. Thus, this study attempted to evaluate quantitative assessment for ecosystem service in the site of Eco-delta project in Busan. As a part of climate change adaptation, this study evaluated and compared with the value for carbon fixation and habitat quality using the InVEST model before and after development with three alternatives of land-use change. Carbon fixation showed 216,674.48 Mg of C (year 2000), and 203,474.25 Mg of C (year 2015)reducing about 6.1%, and in the future of year 2030 the value was dropped to 120,490.84 Mg of C which is 40% lower than year 2015. Alternative 3 of land use planning was the best in terms of carbon fixation showing 6,811.31 Mg of C. Habitat quality also changed from 0.57 (year 2000), 0.35 (year 2015), and 0.21 (year 2030) with continued degradation as development goes further. Alternative 3 also was the highest with 0.21(Alternative 1 : 0.20, Alternative 2 : 0.18). In conclusion,this study illustrated that quantitative method forland use change in the process of EIA can helpdecision making for stakeholders anddevelopers with serving the best scenario forlow impact of carbon. Also it can help better for land use plan, greenhouse gas and natural environmental assets in EIA. This study could be able to use in the environmental policy with numerical data of ecosystem and prediction. Supplemented with detailed analysis and accessibility of basic data, this method will make it possible for wide application in the ecosystem evaluation.