• Journal of Technology Innovation
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• v.28 no.3
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• pp.1-28
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• 2020

This study examines whether the firm with high innovation efficiency realizes high operating performance. We measured innovation efficiency by the ratio of patent applications for R&D expenditure or R&D stock and measured operating performance by the ratio of operating income or operating cash flow to total assets for the following year. The sample consists of 1,880 manufacturing firm-years, which listed on the Korean Exchange between 2014 and 2017. We analyze the effect of innovation efficiency on operating performance using a model of Hirshleifer et al. (2013) results show that both innovation efficiency variables have a significantly positive relationship with the total asset operating margin. Besides, the following year's performance, measured by the total asset operating cash flow ratio, also shows a positive relationship with the two innovation efficiency variables at the 5% and 1% significance levels, respectively. The results indicate that high innovation efficiency firms that link the outcomes of R&D to more patent applications realize higher operating performance. Also, we divided the R&D-intensive and non-R&D-intensive industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. However, the effect of innovation efficiency on the operating cash flow is only significant in R&D-intensive industries. This study suggests that the effects of innovation efficiency are more consistent in the R&D-intensive industry. Additionally, we divided the high patent application and low patent applications industries and performed the same analysis. As a result, the innovation efficiency has a significant positive effect on operating margin in both industries. This study suggests that the effects of innovation efficiency are more consistent in the high patent application industry. We show that a firm's innovation efficiency is a critical factor for a firm's performance, while prior studies on the R&D performance have not considered the innovation efficiency of each firm. The evidence suggests that firms not only consider R&D expenditures but also improve the performance of companies by increasing innovation efficiency. Investors need to consider their innovation efficiency when evaluating the value of firms.

• Journal of Digital Convergence
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• v.12 no.4
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• pp.51-68
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• 2014

Today's public sector information is considered an important national asset that has social and economic value. Hence, developed countries are competitively promoting various policies to actively promote access to public sector information and the use of such information for private purposes. The Korean government is also boosting the Government 3.0 policy as a new governmental management paradigm that supports the creative economy. Despite these governmental efforts, since open public sector information is only classified from the supplier's perspective, it is difficult to have access to information for private application from the consumer's perspective and expand private applications because of the problems in identifying the information source. In this study, the concept of data from the user's perspective for the activation of private applications was defined by focusing on public sector information obtained by affiliated organizations of the Ministry of Science, ICT and Future Planning(MSIP). The new classification system was designed by analyzing the classification system of conventional open services of public sector information through investigation.

• Environmental and Resource Economics Review
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• v.18 no.3
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• pp.431-455
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• 2009

This study estimates the WTP for the plan of solving deforestation due to limestone mining and calculates that damage cost using contingent valuation method. As the results of analysing a dichotomous choice CV data, the yearly mean WTP per household for the plan is 5,045 won(95% confidence interval : 3,729~6,360 won) in single bounded CV model and is 4,361 won(95% confidence interval : 3,710~5,012 won) in double bounded CV model. The damage cost of deforestation due to limestone mining can be estimated as 55.3% of WTP for the plan which is assigned to restoring the deforestation area to the original or similar alternative state. The average yearly deforestation cost of 1 ha due to limestone mining is reached 20.90 million won(95% confidence interval : 16.53~25.27 million won). And the asset value of that 1 ha damage is 160.02 million won(95% confidence interval : 126.56~193.49 million won). The fact is found that the damage cost of deforestation using replacement cost method is likely to be underestimated. The total damage cost of deforestation because of limestone mining in 3 cities (Donghae, Samcheok, Yeongwol) is 204.0 billion won(95% confidence interval : 161.4~246.7 billion won) which is composed of 26.5% for Donghae, 28.9% for Samcheok, and 44.6% for Yeongwol according to the damage size of deforestation due to limestone mining in 3 cities.

• Journal of the Korean Association of Geographic Information Studies
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• v.17 no.1
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• pp.144-158
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• 2014

This research presented a conceptual design of damage assessment inventory for efficient response to natural disaster damage of infrastructure close to the river. It consists of classification and categorization of facilities for accomplishing the conceptual design of inventory for damage of infrastructure close to the river. However, there are arising problems of efficient management on disaster, such as poor management of data facilities and constructions which is managed by the different types of government departments. Therefore, this research presented conceptual models of damage assessment inventory on risks of damage infrastructure close to the river using the United states' HAZUS-MH to analyze damage facilities, type of asset classification, classification of domestic facilities and guidelines for computing the value of assets. Conceptual models of inventory this research presented is to be used on the data for damage response on protected inland damage assessment and to increase efficiency for evaluating detailed damage amount of private property by natural disaster and to establish a restoration plan.

• CRM연구
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• v.4 no.1
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• pp.1-18
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• 2011

The consumer's expectation of companies' social responsibilities has been continuously getting higher as the consumerism has been matured. So, the company has faced the shift to move forward to the positive social activity such as charity, donation, and sponsorship. In addition, the company which does make a success needs to reach goals not only to maximize profits but also to make justices of social and cultural boundaries. Thus, success of an enterprise aims at the maximization of profits as the economic objective and the creation of competitive, powerful brands. Accordingly, as enterprises consider social responsibility as the concept of effective investment to enhance the asset value of corporation, they seek to extend their brands in order to pursue cause-related marketing, which accomplishes and complements two objectives each other the performance of social responsibility and the pursuit of powerful brand assets. In Korea, there are traditional ritual ceremonies such as ceremonies of coming-of-age, marriage, funeral, and ancestor worship and they consider those ceremony occasions as very important. Moreover, social positional grade of rank like the two upper classes of old Korea made people pretend to be noble and sensitive to other people around themselves. This old custom could influence Korean people's way of life, especially, consumer-action. This deep rooted custom also could influence consumption life considerably. Through this study, we can understand the consumer behaviors of Korean who consider ritual ceremonies and saving face as essential and are influenced by this culture. on another hand, we intend to check the effects on buying luxury brands.

• Journal of the Korean Institute of Landscape Architecture
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• v.35 no.2 s.121
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• pp.71-80
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• 2007

Korea began preserving and managing natural monuments in 1933 under Japanese Colonization, but North Korea and South Korea were forced to establish separate natural monument management policies because of the division after the Korean Independence. The purpose of this study is to compare and analyze the natural monument management policies of both south and North Korea between 1933 and 2005 to introduce new policies for Korea unification. The following are the results: First, South Korea manages every type of cultural asset, including natural monuments, through the 'Cultural Heritage Protection Act,' whereas North Korea managing its cultural assets through the 'Cultural Relics Protection Act' and the 'Landmark/Natural Monument Protection Act.' Second, South Korea preserves and utilizes natural monuments for the purpose of promoting the cultural experience of Korean people and contributing to the development of world culture, whereas North Korea uses its natural monuments to promote the superiority of socialism and protect its ruling power. Third, North and South Korea have similar classification systems for animals, plants, and geology, but North Korea classifies geography as one of its natural monuments. Unlike South Korea, North Korea also designates imported animals and plants not only for the preservation and research of genetic resources, but also for their value as economic resources. Fourth, North Korea authorizes the Cabinet to designate and cancel natural monuments, whereas South Korea designates and cancels natural monuments by the Cultural Heritage Administration through the deliberation of a Cultural Heritage Committee. Both Koreas' central administrations establish policies and their local governments carry them out, while their management systems are quite different. In conclusion, it is important to establish specified laws for the conservation of natural heritages and clarified standards of designation in order to improve the preservation and management system and to sustain the diversity of natural preservation. Moreover it is also necessary to discover resources in various fields, designate protection zones, and preserve imported trees. By doing so, we shall improve South Korea's natural monument management policies and ultimately enhance national homogeneity in preparation for the reunification of the Koreas in the future.

• Korean Journal of Construction Engineering and Management
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• v.17 no.3
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• pp.125-133
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• 2016

The Project Risk Management is intended to result in the effective management by identifying in advance and mitigating all significant risks including project risks and opportunities during the entire project life cycle - from project inception to completion of construction. It is impossible to predict an exact budget and construction duration before finishing a project. So, Washington Department of Transportation mandates that workshop-based risk management is conducted for projects over specific cost. However, the domestic construction sites have depended on numerical risk analysis without any workshop and efficient risk management have not made. Therefore, in this study, we propose the effective risk management using the RBES program which is very useful for workshop-based risk management and pre & post mitigation, by workshop-based risk management techniques. This proposed risk management approach is applied to a domestic 'A' river recovery project. It is concluded that we may expect the effect to mitigate the total cost overrun problem and the construction duration delay effect in the project by identifying significant risks and by preparing effective risk mitigation strategies.

• The Korean Journal of Financial Management
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• v.25 no.1
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• pp.141-176
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• 2008

This study provides an analysis of ex post efficient outcome, which can be said an objective of distressed restructurings, using the stock return of listed companies. The findings of this study are as follows: First, upon completing the distressed restructurings, reorganization and workout cases showed positive announcement effects, which was statistically significant. Also, composition cases displayed a positive value, but it was not statistically significant. Second, with respect to post-restructuring long-run stock performance, reorganization and composition showed underperformance after completion. However, workout cases showed overperformance after the completion. Third, multiple regression analysis to find factors affecting post-restructuring long-run stock performance suggests that higher asset decrease(ASSETCH), shareholder concentration (OWNCEN), largest shareholders' stake(OWN) have more positive impacts on long-run performance. However, change of the largest shareholder(OWNERCH) has negative impacts on long-run performance. Finally, change of the largest shareholder is a negative factor in the performance of the distressed restructurings. Therefore, this study implies that if M&A is used as a way of early completing the distressed restructurings, prudent judgment is required on whether a firm can recover its competitiveness and is likely to be economically viable again.

• Journal of the Korean Institute of Landscape Architecture
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• v.37 no.6
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• pp.48-56
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• 2010

Since ancient times, Korea has been called a land of beauty. Scenic sites under the Cultural Properties Protection Act include picturesque places that are famous for their natural scenic beauty as well as their historical and cultural value. Scenic sites are managed as natural assets to promote their preservation and use. However, the management of scenic sites can produce adverse effects on regional development and ownership rights. Moreover, the purpose of their designation as cultural assets is not fully understood because scenic sites are managed by focusing on restraint on users' act the same as was applied to historic sites. Therefore, the purpose of this study is to protect inhabitants' rights of ownership by arranging the boundaries of designated areas and by providing standard permission for condition changes in the Buryeongsa Valley, which was designated as a Scenic Site in 1979. The results of this study can be summarized as follows: First, arranging the boundaries of the designated area includes the arrangement of the edge lines standardized on the visual range of the mountain ridge, preventing the loss of landscape beauty in the designated district; the internal clearing district focuses on the existing settlement. Gearing the designated areas after the arrangement of the boundaries results in $11,928,932m^2$, 38.6% compared to the existing designated areas. Second, it establishes a 500m buffer zone inside the radius of the boundary of the cultural asset as a standard for condition changes that seriously affect landscape preservation. Third, the standards for permission on building 'height regulations' are divided into flat and gable, according to the roof shape. The adopted standard is 8m high for 2 story flat roofs, and 12m high for 2 story gable roofs.

• Journal of Distribution Science
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• v.13 no.2
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• pp.55-62
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• 2015

Purpose - This study aims to investigate the success factors pertaining to K-POPs from an analysis of the internal business environment. Much research has investigated Korean Moves or how to popularize them. The research mainly focused on aspects of Korean Moves. However, few studies have attempted to examine Korean Moves or K-POPs from a managerial viewpoint. The current research tries to investigate the success factors of K-POP from strategic perspectives, specifically utilizing internal resource based view perspectives. It differentiates itself by looking at the competitiveness of K-POP from the internal resources. Research design, data, and methodology - In the entertainment industry, where creativity is heavily stressed, competitiveness is often regarded within the organization as a form of intangible asset, knowledge, or technology that is often related with the organization's personnel. Some research has tried to reveal the competitiveness of K-POP using Porter's competitiveness of nations framework. Others utilize the adapted model of Porter's structure. However, these models only look at the outside environment, and not inside a firm's resource, knowledge, or capabilities. This research utilizes the VRIO model to examine the internal resources and capabilities of K-POP producers. The model measures whether a firm's internal resources and capabilities are valuable, rare, difficult to imitate by competitors, or organizable. The research covered businesses whose yearly revenue exceeds $10 Million in music planning and recording in South Korea. There were only thirteen such companies (one percent of the total population). Of these, companies for whom 20 percent or more of the sales revenue comes from the abroad are targeted. Only seven are selected and these participated in the research. In order to find a firm's internal resources, we conducted qualitative research methodology. Their business names and persons who participated in this research are not revealed due to case sensitive issues. Instead, we use unrelated initials for their names and their statements. Results - From the in-depth interview with top-tier K-POP producers and managers, the current research tried to identify resources and capabilities that helped to strengthen their competitiveness. These resources and capabilities are sought from the scope of the VRIO model, which looks at the internal resources and capabilities from the scope of value, rarity, imitability, and organization. Interviews with the top tier producers and managers reveal the internal success factors of K-POPs. We conclude that these resources and capabilities are from internally accumulated producing know-how, unique managing (training) system, and outstanding all-round entertainment capabilities of the performers. Conclusions - These results indicate that the core resources and capabilities of K-POP are robust. It will take a significant amount of time and money to imitate for followers, because these resources and capabilities are the result of time investment and are embedded into producers' and performers' know-how. Taking Luo (2000)'s argument, K-POP is in the second stage of the globalization process, which is configuring and allocation resource capabilities to a global scope.