• Korea Real Estate Review
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• v.27 no.3
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• pp.7-22
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• 2017

Establishing greater reliability in property appraisal is critical because it promotes the public interest. Reliability is composed of competence and ethics. In particular, the ethics of property appraisal has individual and corporational aspects. This study aimed to evaluate how the ethical climate of a firm is affected by the scale of appraisal firms, thereby validating the effect of the 'Large Appraisal Firm System'. Hence, the ethical climate of appraisal firms, an indicator of inherent ethical value recognition, was investigated, divided into recognition of social responsibility and exclusion of self-interest. The study results showed that the ethical management systems of appraisal firms encourage the appraisers of such firms to be conscious of their social responsibility and to exclude self-interest in their work. The degree of such influence, however, differs according to the scale of appraisal firms. Based on these results, further research on the maintenance and operation of the ethical management systems of appraisal firms is required to enhance the reliability of property appraisal.

• Journal of the Korean Operations Research and Management Science Society
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• v.13 no.1
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• pp.111-111
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• 1988

This paper identifies the current practice and problems of the performance appraisal system at a typical Korean company. We developed a general framework of performance appraisal system consisted of five subsystems. Along the components of this framework, we reviewed the internal documents and recent appraisal data in the firm, and analyzed the interview and questionnaire survey outcomes collected companywise. Main findings are as follows. The appraisal results are used solely for promotion decisions, and almost never for career development, rewarding, relocation and so on. The appraisal items are not clear in meaning, not comprehensive in scope, and do not adequately reflect characteristics of different jobs. The appraisal is made by superiors only, and needs to be complemented by peer and/or self reviews. The employees are appraised on the basis of subjective judgments of the superiors. The appraisal data are being accumulated, but due to inadequate formation and insufficient programs the database is not being used for the detection and correction of appraisal tendencies and errors. Appraisal results are not fedback to the employees for the constructive information exchange. Accordingly they perceive the effectiveness of the appraisal system as very poor. Finally, the implication of our finding for other companies is briefly discussed.

• Korean Management Science Review
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• v.13 no.1
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• pp.111-134
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• 1996

This paper identifies the current practice and problems of the performance appraisal system at a typical Korean company. We developed a general framework of performance appraisal system consisted of five subsystems. Along the components of this framework, we reviewed the internal documents and recent appraisal data in the firm, and analyzed the interview and questionnaire survey outcomes collected companywise. Main findings are as follows. The appraisal results are used solely for promotion decisions, and almost never for career development, rewarding, relocation and so on. The appraisal items are not clear in meaning, not comprehensive in scope, and do not adequately reflect characteristics of different jobs. The appraisal is made by superiors only, and needs to be complemented by peer and/or self reviews. The employees are appraised on the basis of subjective judgments of the superiors. The appraisal data are being accumulated, but due to inadequate formation and insufficient programs the database is not being used for the detection and correction of appraisal tendencies and errors. Appraisal results are not fedback to the employees for the constructive information exchange. Accordingly they perceive the effectiveness of the appraisal system as very poor. Finally, the implication of our finding for other companies is briefly discussed.

• Journal of the Korea Management Engineers Society
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• v.23 no.4
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• pp.105-123
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• 2018

The purpose of this study is to verify whether the technology grade, which is the result of technology appraisal by Technology Credit Bureau, can be extended and applied to the venture certification system. We confirmed that there was a significant difference in the average financial performance for three years after the certification and appraisal of the two groups after matching the venture certification enterprise group and the technology appraisal enterprise group in 2015 through the propensity score matching method. As a result, there was no significant difference in the financial performance of venture certified firms and technology appraisal firms, so we confirmed that the technology grade can be expanded and applied to the venture certification system. As a result of estimating the technology grade conforming to the venture certification system, it was concluded that technology outstanding firm(T1-T4) is a technology grade suitable for the venture certification system.

• Information Systems Review
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• v.22 no.1
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• pp.73-89
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• 2020

This study started to identify the "Forward-looking" of the technology appraisal model introduced to diversify financing methods of SMEs and improve financial accessibility. The multivariate regression analysis was performed by setting the business performance(growth, profitability, and stability) of technology financing companies as dependent variables, technology appraisal items as independent variables, number of employees, age of the company, asset and the Korea Standard of Industry Classification related to firm size and industry characteristics as control variables. As a result of the analysis, the technology appraisal items did not explain the profitability of the company significantly and had a limited explanatory power on growth potential. However, in terms of stability, we confirmed that R&D capacity is a significant variable explaining the debt ratio of technology financing companies. Therefore, it is concluded that the 'Forward-looking' reflection on the growth and profitability of the company should be strengthened in the future adjustment of the technology appraisal model and the development of the technology appraisal model for investment.

• Journal of Technology Innovation
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• v.23 no.3
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• pp.373-396
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• 2015

This study analyzed the determinants of high-growth firms using the technology appraisal data of the Korea Technology Finance Corporation. This study is differentiated from previous studies for three reasons. First, it analyzed the determinants of firms that will grow into high-growth firms in the future, not the characteristics of current high-growth firms. Second, it analyzed high-growth firms by dividing them in two aspects: sales and employment. In other words, they were divided into three types: the case in which a firm achieves high growth in both sales increase and creation of jobs, the case in which a firm achieves high growth in creation of jobs but low growth in sales increase, and the case in which a firm achieves high growth in only sales increase but low growth in creation of jobs. Third, this study applied the technology appraisal indicators of Kibo Technology Rating System(KTRS) by the Korea Technology Finance Corporation as the explanatory variable. As a result of analysis, it was found that a firm achieved high growth in both sales and employment if the position in the technology life cycle was appropriate and the technology readiness level was high. However, it turned out that the management system of technical manpower had conflicting effects on high growth of employment and sales. In other words, a firm that had well managed its technical manpower achieved high growth in terms of employment, but rather showed low growth in terms of sales. This result suggests the inference that firms showing high growth in employment may appear mainly in the high-tech industry where management of technical manpower is important. Accordingly, as a result of adding dummy variables that represent whether or not firms are in the high-tech industry, it was found that the result supported the inference, as firms in the high-tech industry were highly likely to achieve high growth in employment.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.967-974
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• 2022

It is no news that Nigeria's infrastructure challenge is enormous. In the global ranking, Nigeria ranked low in quantity and quality of its infrastructural provision which has a great impact on the ease of business transaction. Low investments in transportation have brought about the current infrastructural deficit. Recently, the Nigerian government has made effort to address at least to some extent the infrastructural deficit through Public-Private Partnership, but this has not yielded the desired result. Moreover, the sustainability issues relating to railway projects such as, emissions, noise pollution, ecosystem, and other environmental issues calls for urgent attention. Hence, this necessitated consideration on sustainability appraisal for the Chinese rail project in Nigeria. This study reviews sustainability of railway projects built by the Chinese firm in Nigeria with particular emphasis on the environmental and social impact of these projects. The study further identified issues and challenges in project implementation with a particular focus on civil dialogue and community engagements. A detailed literature search was conducted on railway projects and infrastructure by systematically reviewing selected published articles.The analysis of the selected articles identified sustainability issues and potential for improvement of Chinese railway projects and how they contribute to or inhibit competitiveness in the Nigerian railway market. From the literature searched, some of the projects constructed by Chinese firm revealed that there is economic and social impact of railway projects delivered by the Chinese firm in terms of capacity development and knowledge transfer potentiality. For instance, in the just concluded Lagos-Ibadan railway projects, the study gathered that the project brought about 5000 jobs and local staff were trained by the Chinese company, this will boost man power and local content capability. Also, it will significantly improve Nigeria's infrastructure and boost its economic development. The study suggests that Nigerian government should ensure and provide an enabling environment that is conducive for investment on the continent. Peace, improved security, and decent governance are the best conditions for sustainable transportation growth.

• Journal of Technology Innovation
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• v.28 no.1
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• pp.31-52
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• 2020

This study was started to verify the preliminary(Ex-ante) discrimination power of the firm's high-activity using the 'Forward-looking' oriented technology appraisal model used in technology financing. The analytical firms are classified into the industry (manufacturing / non-manufacturing) and the age of company (initial / non-initial). High-activity SMEs are defined as those that achieve at least twice the average asset turnover ratio of the cluster. As a result of the discriminant model by applying C5.0 method, which is one of decision tree models, classification accuracy is more than 99% in all industries and the age of company, and it is confirmed that the discriminant power of the model is stable. As a result, the management expertise, capital involvement and funding capacity items were identified as a critical variable for the high-activity SMEs. In addition, the technology management capability and technology life cycle were also confirmed to be the items to determine high-activity SMEs in the manufacturing industry. Through this, it was possible to confirm some possibility of prior discrimination and policy utilization of high-activity SMEs by using technology appraisal items.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.584-587
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• 2004

After the IMF bailout, the Environment of Domestic Construction Industry had changed dramatically Therefore the IMF, Domestic Construction Firms are secured by the government regulations and some traditional Practices. However, due to the following reasons: a decrease in public works, an increase in uncertainty of market prediction, the change of bid system, and increase in construction firms, recently the competition among construction firms has became keen. Under the serious competition, In order that medium-size construction firms survive in the construction market, it is need to establish the strategy that could increase productivity. In order to establish the strategy, firstly, construction firms should set up an appraisal standard of construction firms. This paper propose a suitable appraisal standard that construction firm's strategy establish in environment change of the construction industry.

• Korean Journal of Construction Engineering and Management
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• v.19 no.2
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• pp.3-14
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• 2018

The system to appraise the execution capabilities of construction companies had been began as the Construction Contract Restriction System in 1958, was changed as the Construction Subcontract Restriction System in 1961, and finally has been operated as the Appraisal and Public Announcement of Execution Capacity (APAEC) from 1996. The APAEC system has been utilized as a firm and unique tool for assessing the execution capacities of construction companies despite many problems and continuous system changes. In spite of numerous studies to improve the APAEC system, however, efforts to analyze the system from the empirical point of view were insufficient. In this study, we analyze the status of APAEC system through analyzing correlations among assessment results of the APAEC, earned values of construction works, construction management performance indexes, and macroeconomic indexes for the past 10 years from 2007 to 2016. As a result of the analysis, it was found that Appraisal Value of Execution Capacity (AVEC) is excessively inflated in engineering and landscaping areas compared to Earned Value of Construction Work (EVCW) and the correlations between the AVECs and EVECs are not high in the areas of engineering, industrial equipment, and landscaping. In addition, technical appraisal values are excessively inflated in engineering and landscaping areas and correlations between AVEC and its components are high in the areas of engineering & building, industrial equipment, and large companies, but low in the areas of engineering, building, landscaping, and small and medium companies. Finally, the concentration of the AVEC is intensifying more and more and the concentration deteriorates construction management performance indexes and macroeconomic indexes. If we continuously improve the APAEC system based on the implications derived in this study, the APAEC system will be able to maintain it's position of a firm and unique means to access the execution capacities of construction companies.