• Proceedings of the IEEK Conference
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• 2001.06b
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• pp.265-268
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• 2001

In this paper we investigate the implementation cost of value prediction methods for high performance micro-processors, and propose a new value prediction microarchitecture with low cost. After simulation, we found that the proposed microarchitecture can decrease the implementation cost by 36% to 50% and with slight performance degradation (less than 5%) .

• The Journal of Asian Finance, Economics and Business
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• v.5 no.3
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• pp.43-50
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• 2018

The paper aims to investigate the impact of trade cost on export: A Case Study Vietnam. The study conducts a static linear panel data analysis on annual data covering bilateral export between Vietnam and 70 major importers of Vietnam from 2001 to 2013. The gravity model has been one of the most successful applications in empirical trade. In this paper we apply the gravity model to estimate the impact of trade cost on Vietnamese bilateral export value. The paper uses gravity model to estimate the impact of trade cost on Vietnamese bilateral export value. The empirical results derive from a static linear panel data analysis (fixed effects model) indicates that trade cost plays a crucial role in determining the export value that occurs between Vietnam and trading partners. Besides, population of importing country, trade openness of importing country, gross domestic product of importing country and gross domestic product of Vietnam are also significant determinants of Vietnamese bilateral export value. The main findings indicates that trade cost plays a very important role in the Vietnamese bilateral export performance. This suggests that the Vietnamese government should attempt to improve domestic trade costs to enhance competitiveness and increase export growth sustainably.

• Culinary science and hospitality research
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• v.22 no.8
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• pp.78-88
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• 2016

This study conducted to find influences of selection attributes on consumer satisfaction as perceived by low-cost restaurant visiter by considering personal value. Developed survey was distributed and 428 sample who visited the low-cost franchise restaurant were employed the statistical analyze. The internal value and the external value included individual value in order to estimate the influence of the choice factor of the low-cost franchise restaurant on the quality of the product, and the choice factors were consisted of 3 variables that are quality, accessibility and service. Regression analysis was conducted to verify the relationships among the variables. As a result, the internal value (${\beta}=.236$, p<.0.01), and external value (${\beta}=.352$, p<.001) have the significant positive relationships with respect to quality. Second, the external value (${\beta}=.305$, p<.001) has the positive relationship with regard to accessibility, but the internal value has no significant relationships with level of accessibility. Third, the internal value (${\beta}=.828$, p<.001) has the significant positive relationship with regard to service, but there was no significant influences between external value and service in this study. Fourth, the internal value (${\beta}=.472$, p<.001), the external value (${\beta}=.479$, p<.001) were critical antecedents of the quality. Last, while quality (${\beta}=.858$, p<.001) has significant positive relationship with satisfaction, but it didn't show any relationships with accessibility and service.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.174-178
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• 2015

This paper presents a new method for forecasting construction project cost and time at completion or at any intermediate time horizon of the project duration. The method is designed to overcome identified limitations of current applications of earned value method in forecasting project cost and time. The proposed method usesfuzzy set theory to model uncertainties associated with project performance and it integrates the earned value technique and the contractors' judgement. The fuzzy set theory is applied as an alternative approach to deterministic and probabilistic methods. Using fuzzy set theory allows contractors to: (1) perform risk analysis for different scenarios of project performance indices, and (2) perform different scenarios expressing vagueness and imprecision of forecasted project cost and time using a set of measures and indices. Unlike the current applications of Earned Value Method(EVM), The proposed method has a numberof interesting features: (1) integrating contractors' judgement in forecasting project performance; (2) enabling contractors to evaluate the risk associated with cost overrun in much simpler method comparing with that of simulation, and (3) accounting for uncertainties involved in the forecasting project cost.

• Korean Journal of Agricultural Science
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• v.39 no.2
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• pp.227-242
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• 2012

Accurate estimation of milk production cost is very important for dairy farmers in establishing strategies for business management (e.g. planning a program for milk production, deciding the size of business and investment, determining the milk price for sale). Since the estimated cost of milk production is used as an important index to determine the basal price of milk in Korea, there has been much interest and debate on the method used to estimate milk production cost among the stakeholder. This study was thus carried out to identify problems in the current methodology for estimating cost of milk production, and to find a better way to improve it. We propose several alternatives and better ways to improve the current method for estimating cost of milk production. Estimation of the income and cost per head should be based on the number of cattle converted to grown cows. Cost estimation per liter of milk should be made for both whole milk and 3.4% milk fat corrected milk. The value of purchased cows and raised replacement heifers should be the same as their market value. The productive life span of cows should be less 4 years, and the terminal or salvage value of cows needs to be 30 to 40% less than her initial value. When calculating depreciation of cows over the productive life span, however, the salvage value should be 0 or 1 Korean won. On calculating labor costs, the farm labor wage corresponding to the average wage of nonfarm industrial workers should be assumed. Beside of these, better estimation procedures for other items are also given. The proposed methods from this study should improve the accuracy of estimation of milk production cost and help to achieve consensus among the stakeholder.

• IE interfaces
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• v.18 no.2
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• pp.184-192
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• 2005

In recent research there has been intense interest in understanding how real option valuation (ROV) approaches might usefully complement conventional discounted cash flow (DCF) techniques. However, investment decision makers in a real world have been worried about adopting the ROV approaches mainly because of difficulty in technically understanding the theory of the ROV approaches as indicated by many researchers. With this difficulty in mind, we propose the opportunity cost model as another discrete-time model to value a deferral option. The main advantage of observing a real options value in terms of the opportunity cost concept is to provide a technique for practitioners to estimate a wide range of real options values without sticking to a financial option modelling. The fundamental ground for developing the opportunity cost model proposed in this paper lies in the work of dissecting the structure of the real options value into three categories: capital gain, expected opportunity loss, and expected opportunity gain. At the end of the paper, we will present a short illustrative example to demonstrate the applicability of the model.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1294-1299
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• 2009

Best value in value engineering has relation to cost and performance. But a severe problem in VE study of a project is to reduce value due to loss of performance, caused by focusing on cost reduction. Also a lack of understanding performance concept, no trial VE workshop as well as cost saving-based policy have not satisfied customer needs. A efficient and practical methodology for accomplishing best value in construction projects is proposed. This study developed a more objective approach for performance measurement approach of mega projects and suggested a systematic process of performance quantitative analysis verifying value improvement. The proposed performance measurement method would be very useful for better communication and consensus between stakeholders and VE team especially through value engineering.

• Journal of Information Technology Services
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• v.15 no.3
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• pp.1-14
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• 2016

According to the growing importance of science and technology policy, investment in research and development (R&D) has been increased. In this context, a patent as one of outcome of firm's systematic R&D investment is the way to hold a dominant position in companies' technology competitiveness and also to protect technology right. This study attempts to find the effects of input resources and intellectual property production activity on company value. It conducted empirical analysis based on 238 KOSDAQ-listed and medium-sized firms. Using the previous research, this study configurated research variables about activity of patent production, company value, and input of resources. Through these variables, it aims to know the effect of input of resources and activity of patent production on company value. First, the result of regression analysis shows that R&D cost has the positive effect on a patent production and sales promotion cost positively affects on the registration of the trademark. Second, the output of regression analysis indicates that a patent has the positive effect on company value but a trademark has not. With regard to the input of resources, R&D cost has the influence on company value but sales promotion cost has not. This study attempts to find the effectiveness of company's intellectual property registration on its value and suggests a way that the systematic R&D investment contributes the growth of company value.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.1
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• pp.110-117
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• 2018

Machines and facilities are physically or chemically degenerated by continuous usage. One of the results of this degeneration is the process mean shift. By the result of degeneration, non-conforming products and malfunction of machine occur. Therefore a periodic preventive resetting the process is necessary. This type of preventive action is called 'preventive maintenance policy.' Preventive maintenance presupposes that the preventive (resetting the process) cost is smaller than the cost of failure caused by the malfunction of machine. The process mean shift problem is a field of preventive maintenance. This field deals the interrelationship between the quality cost and the process resetting cost before machine breaks down. Quality cost is the sum of the non-conforming item cost and quality loss cost. Quality loss cost is due to the deviation between the quality characteristics from the target value. Under the process mean shift, the quality cost is increasing continuously whereas the process resetting cost is constant value. The objective function is total costs per unit wear, the decision variables are the wear limit (resetting period) and the initial process mean. Comparing the previous studies, we set the process variance as an increasing concave function and set the quality loss function as Cpm+ simultaneously. In the Cpm+, loss function has different cost coefficients according to the direction of the quality characteristics from target value. A numerical example is presented.

• Ocean and Polar Research
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• v.39 no.1
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• pp.51-59
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• 2017

The purpose of this paper is to estimate the economic value of beaches which are the major part of the East Sea Coast. ITCM (Individual Travel Cost Method) is applied to estimate the economic value of its beaches using Poisson, negative binomial, truncated Poisson and truncated negative binomial models. The consumer surplus during length of stay per capita is 214,088 won in beaches overall on the East Sea Coast, 206,398 won in Gangwon-do beaches and 271,171 won in Gyeongbuk/Ulsan beaches. Annual total economic value of its beaches considering the number of visitors at beaches is 6,269 billion won (3,970 billion won in Kangwondo beaches, 2,299 billion won in Kyungbuk/Ulsan beaches).