• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.26-39
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• 2016

Korea's main manufacturing industries, which have led its economy for the past three decades, are faced with a serious downturn and loss of competitive advantages due to the current economic depression, China's rise, and the drop of oil prices. Korean business firms must adopt the paradigm shift in their value strategies, along with a government-led industrial restructuring in order to gain sustainable competitive advantages. Business firms allocate their limited resources between value creation and value appropriation, however, what effect does strategic emphasis on value creation versus value appropriation have on a business firm's financial performance? This paper empirically addresses this issue by examining the effect of shifts in strategic emphasis on stock return. Furthermore, this study examines appropriate choices of strategic emphasis to gain differential financial performance. The data set used in this regression analysis comes from the KISLINE database of NICE Information Service. The variables that form the basis of this analysis are stock return, ROA, and Strategic Emphasis [(advertising expenditures-R&D expenditures)/assets]. The interactive effect with situational factors regarding the firm and the type of technological environment in which the firm is operating was also analyzed. Our results show that investors acknowledge a shift of strategic emphasis as a sign of stock valuation. In comparison to US, Korean business firms have weak value creation capabilities in high-technology industries, and weak value appropriation capabilities in low-technology industries. This proves Korean firms are fast followers in the global market. Our findings suggest that Korean firms have to adopt a balanced value strategy, nurturing value creation and developing value appropriation for overcoming the current economic downturn and becoming a first mover in the dawn of "Industry 4.0."

• The Journal of Health Technology Assessment
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• v.1 no.1
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• pp.22-26
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• 2013

Objectives: Balancing benefits and risks through the drug life cycle has been discussed for many decades. The objective of this study was to review the processes and tools currently proposed for benefit-risk assessment of medicinal drugs. It aimed to establish scientific and efficient drug safety management system based on the synthetic analysis of benefit-risk evidence. Methods: We conducted a review of exiting literatures published by regulatory agencies or initiatives. Not only quantitative methodologies but also qualitative method were compared to understand their key characteristics for the benefit and risk assessment of drugs. Results: Recently, benefit-risk assessments have more structured approaches to decision making as part of regulatory science. Regulatory agencies such as European Medicines Agency, FDA have prepared plans to apply benefit-risk assessment to regulatory decision making. Also many initiatives such as IMI (Innovative Medicine Initiative) have conducted research and published reports about benefit-risk assessment. For benefit-risk assessment, four kinds of methods are necessary. Frameworks such as BRAT (Benefit Risk Action Team) framework, PrOACT-URL provide guidance for the whole process of decision-making. Metrics are measurements of risk benefit. The estimation techniques are methods to synthesis and combine evidences from various sources. The utility survey techniques are necessary to explicit preferences of various outcome from stakeholders. Conclusion: There is the lack of widely accepted, validated model for benefit-risk assessment. Nor there is an agreement among academia, industry, and government on methods for the quantitative valuation. It is also limited by available evidence and underlying assumptions. Nevertheless, benefit-risk assessment is fundamental to improve transparency, consistency and predictability for decision making through the structured systematic approaches.

• Journal of Digital Convergence
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• v.14 no.10
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• pp.107-117
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• 2016

This study examines information efficiency of financial information on the firm value for the listed manufacturing companies in Korea stock market in terms of timing pattern of information. We set 3 different test periods based on the financial statement released years - the current year, 90 days before financial statement announcement and the next year. We introduce using the stepwise regression method to examine the effect of financial variables on the stock returns. The financial variables include profitability ratio, growth ratio, stability ratio, activity ratio and market valuation ratio. The results of the study showed that both growth and profitability ratio affected the current year stock returns, while stability and activity ratio affected the next year stock returns. Growth rate of total asset affects both current year and next year stock returns. Our findings imply that the period in which financial information is reflected in the firm value, could vary with the characteristics of financial information.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.25 no.3
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• pp.649-664
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• 2015

Recently, the risk of security incidents has been increased due to change of IT environment and development of new hacking methods. Event study methodology that measures the effect of a specific security incident on the stock price is widely adopted to analyze the damage cost of security incidents on market value. However, analysis of company's temporary stock price change is limited to immediate practical implication, and reputation loss should be considered as a collateral damage caused by security incidents. We analyzed 52 security incidents of listed Korean companies in the last decade; by refining the criteria presented by Tobin's q, we quantitatively showed that the companies has significantly higher reputation loss due to security loss than the other companies. Our research findings can be used in order that the companies can efficiently allocate its resource and investment for information security.

• Proceedings of the Korea Committee for Ocean Resources and Engineering Conference
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• 2002.10a
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• pp.100-107
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• 2002

This study investigates the seasonal variation and spatial distribution characteristics of pollutant load, as executing the quantity valuation of pollutant load inflowing into Yeong-Il bay from on-land including the Hyeong-san river. Annual total pollutant generating rate from Yeong-Il bay region are 202ton to BOD, 620ton to SS, 42ton to T-N, 16ton to T-P respectively, if expressly point out, pollutant generating rate from the Hyeong-san river is the greatest, which BOD ratio is 78.2%, SS 88.5%, T-N 62.5%, T-P 73.1%. As calculating Tank model with input value of daily precipitation and evaporation of 2001 year in drainage basin of the Hyeong-san river, Estimated result of the annual total river discharge effluencing from this river is $830{\times}106m^3$. As result to estimating annual total effluence rate outflowing at the rivers from each drainage basins, annual total inflow pollutant rate are BOD 10,633ton, SS 19,302ton, T-N 15,369ton, T-P 305ton. The III basin which is population congestion region of the Pohang-city drain away a good many pollutant load than the V basin including the Neang-Chun with wide drainage area. Especially, a great many T-N than T-P inflow into Yeong-Il bay. The accumulation of pollutant load effluenced from on-land will happen on at the inner coast region of Yeong-Il bay, finally we would make a prediction that the water quality will take a bad turn.

• Journal of the Korean Society of Environmental Restoration Technology
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• v.27 no.1
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• pp.1-16
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• 2024

The riparian area plays a crucial role in maintaining the balance between the aquatic and terrestrial ecosystems. The Korean government has recognized the importance of protecting riparian areas and has taken steps to purchase land and create ecobelt to reduce non-point source pollutants(NSPs) that can negatively impact water quality. However, selecting the catchment area and calculating the pollution load can be challenging due to the small area of the purchased land and the limitations of low-resolution DEMs. To address these challenges, this study proposes the use of unmanned aerial vehicles(UAVs) to create a high-resolution DEM and calculate the pollution load through land cover analysis. This approach can provide a more accurate representation of the land use status and help to identify areas that are contributing to NSPs. The quantitative comparison of the difference in water quality improvement ecosystem services according to the scenarios of additional catchment areas shows that even land purchased for the same amount of money may have different ecosystem service values, and this was quantitatively calculated. This can be used to prioritize future land acquisition. Overall, this study's approach could provide valuable insights into the effectiveness of ecobelt in reducing NSPs and inform future efforts to protect riparian areas in Korea and beyond.

• Journal of Korea Water Resources Association
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• v.52 no.12
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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.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.39 no.4
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• pp.551-559
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• 2019

Since 2000, many local governments have been trying to introduce trams because of the government's failure to adopt environment-friendly policies and light rail. However, there is no service evaluation system that can maintain and enhance tram users' convenience, safety, and comfort during operation. In addition, the tram characteristics are not reflected in the application of the evaluation system of "management and service evaluation for public transportation operators" which is being implemented to railway operators or bus transportation operators. The purpose of this study is to develop the evaluation criteria of operating service according to tram operation model. First, we reviewed cases related to the evaluation of operating services in roads, buses, railways, and airways. And the evaluation criteria and the evaluation items are presented. This study is expected to help to secure and improve operational service in the operation phase of the tram that will be introduced in the future.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.772-775
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• 2008

According to Korean Ministry of Land, Transportation and Maritime Affairs, total national SOC(Social Overhead Capital) stock comes up to 500 billion dollars. Until now, although the construction of SOC is more important than the maintenance of them in Korea, it is necessary to introduce of valuation based total asset management concept in nowadays. In this paper describes problems of exsiting data collection method, needs of Information Technology and introduction of RFID/USN(Radio Frequency IDentification/Ubiquitous Sensor Network) in data collection stage.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.9 no.1
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• pp.207-220
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• 1998

The international community reached an implicit consensus that knowledge management will be the core of our civilization in the next millenium. This dissertation is to view the knowledge management from the point of information science rather than from the standpoint of the business management, which has been the trends of our academic circle so far. The underlying reason is simple, knowledge is the center of the knowledge management and other factors like humans, organization and culture are merely peripheral elements required to apply knowledge in a more appropriate and efficient manner. This paper looks at knowledge-sharing system as the heart of knowledge management emphasizing significance of the procedures such as validation and valuation and knowledge management processes. Adding to this, I dare to say the term 'Information technology Infrastructure' should be changed into'Information Infrastructure' since knowledge itself and how to express them play a more important role in knowledge management than the information technology does.