• Environmental and Resource Economics Review
• /
• v.15 no.4
• /
• pp.673-692
• /
• 2006

In order to test for the dynamic optimality condition for the use of nonrenewable resource, it is necessary to estimate the shadow value of the resource in situ. In the previous literatures, a time series for in situ price has been derived either as the difference between marginal revenue and marginal cost or by differentiating with respect to the quantity of ore extracted the restricted cost function in which the quantity of ore is quasi-fixed. However, not only inconsistent estimates are likely to be generated due to the nonmalleability of capital, but the estimate of marginal revenue will be affected by market power. Since firms will likely fail to minimize the cost of the reproducible inputs subject to market prices under realistic circumstances where imperfect factor markets, strikes, or government regulations are present, the shadow in situ values obtained by estimating the restricted cost function can be biased. This paper provides a valid methodology for checking the dynamic optimality condition for a nonrenewable resource by using the input distance function. Our methodology has some advantages over previous ones: only data on quantities of inputs and outputs are required; nor is the maintained hypothesis of cost minimization required; adoption of linear programming enables us to circumvent autocorrelated errors problem caused by use of time series or panel data. The dynamic optimality condition for domestic coal mining does not hold for constant discount rates ranging from 2 to 20 percent over the period 1970~1993. The dynamic optimality condition also does not hold for variable rates ranging from fourth to four times the real interest rate.

• Journal of Distribution Science
• /
• v.10 no.3
• /
• pp.31-42
• /
• 2012

After the rapidly changing business management environment and financial crisis, high prices and domestic recession in Korea posed threats to the business survival of small and medium enterprises (SMEs). This paper looks at the potential of micro business owners for sustainable development: those who have a spirit of entrepreneurship and the potential to be a hidden champion. Our study of micro business values uses structure equation modeling by LISREL. We have done so in order to understand the foundation of management innovation and success model of micro enterprise by increasing the entrepreneurship and management performance relationship analysis. A micro-enterprise is a type of small business, found only in Korea, often registered as having ten or fewer employees. We examine the successful type of hidden champions and the influence of entrepreneurship on start-ups in business. As compared to past research on the SME entrepreneurship, this study segments small businesses even further. Small business entrepreneurship was classified into three forms that are most appropriate for the Korean situation today: innovation, risk-taking, and pro-activeness. This research is meaningful as it is Korea's first empirical analysis on four business types: wholesale and retail sales, food and lodging business, service business, and manufacturing business. Thus far, research on small business entrepreneurship was carried out using small-scale investigative analysis. However, this research attempted to develop a model that can explain a cause-effect relation of the motivational level when it comes to the difference of entrepreneurship by each business type and small business start-up success factors. Various conceptual and operational definitions could be developed in a diverse and precise manner. Independent variables that are related to the success of small businesses can be developed additionally to examine the success factors related to the systematization in detailed manner. The research showed that the innovation, risk-taking and pro-activeness of the manifested difference in the degree of perception depending on the type of small businesses. Among the four business types, the ones that manifested the highest successful start-up rates were food, service, wholesale and retail sales and manufacturing. Results after conducting the regression analysis are shown on, which proves that the small business entrepreneurship exerts direct effect on the financial management performance of small businesses. In other words, small business entrepreneurship exerts a positive effect on the small business financial success and management performance. The R² value is 0.61. It is possible to know that the perception of systematization and variables on attitude explains the 61% of the success for small self-employed businesses management performance. We define start-up key factors that are helpful to achieve internal growth of firms by finding business survival strategies. The results also focus on Korean government policy for micro enterprise and small business support.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.19 no.5
• /
• pp.35-44
• /
• 2018

The purpose of this study was to derive the factors that affect the development cost and the priority/weight of effectiveness in the pre-development stage of a service robot to estimate the development cost. In particular, the functions of service robots vary according to the field of application, and their prices are not only different but most of them are small-scale production; hence, a cost estimation is necessary. In this research, the factors affecting the service robot development cost in the process of service robot development and adding functions are classified as a functional factor while the factors that affect the entire development cost due to environmental causes, in which the service robot is operated or in the development process, are classified as an adjustment factor. The FGI was conducted to derive the factors and a Delphi survey was conducted among 84 domestic experts to determine the weights of the factors. As a result of the analysis, six functional factors (41 detailed criteria) and five adjustment factors (17 criteria) were derived, the cost weight and rank of the factors were suggested. This study suggests that the development cost of the service robot can be used as a decision-making strategy to select the operation functions in the development process, and can be utilized as an essential tool for the service robot development.

• Korean Journal of Agricultural Science
• /
• v.47 no.1
• /
• pp.139-161
• /
• 2020

The aims of this study were to classify the cultivation status of medicinal crop farmers and to obtain basic data on domestic medicinal crops. To this end, 406 medicinal crop farmers participating in farming education programs in 14 cities and counties were surveyed over 10 months. The results were as follows. First, the biggest difficulty farmers faced in the overall production of medicinal crops was a lack of cultivation skills. Second, in a detailed inquiry about each difficulty item, the most difficult problems were injury by continuous cropping of root-using crops, shortage of specific farm machinery, uncertain market prices, and lack of knowledge about pest control or the positive list system (PLS). Third, the profitability of medicinal crops increased with career experience. Among the farmers who earned profits, requests for education and technical guidance were the most important factors for profitability. Fourth, the results of the analysis suggest that to achieve stable cultivation of medicinal crops, the following items need to be addressed: development and supply of basic cultivation technologies, climate response, registration of pest control pesticides, a solution to the injury by continuous cropping, and contracting cultivation expansion. Additionally, to improve profitability, it is necessary to create conditions that enable the same crops to grow for a long time in one region.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.10
• /
• pp.36-41
• /
• 2017

The mobile mapping system first introduced at Ohio State University in 1991 is being developed in various forms as sensor technology develops. The mobile mapping system can acquire geospatial information around amoving object quickly using the information gathered using the position and attitude information of the moving object and the data from various sensors. The mobile mapping system can rapidly acquire large amounts of Geospatial information and MMS provides maximum productivity in the same measurement methods as existing GNSS and total stations. Currently, a variety of systems are being launched, mainly by foreign companies, and they are applied to the construction of geospatial information. On the other hand, the application of domestic technology development or production is insufficient. This paper provides basic data for the introduction of a mobile mapping system to geospatial information related business by conducting the status survey and feature analysis of a commercialized system focusing on the ground-based mobile mapping system. The research identified the current status and characteristics of high-priced, low-priced, indoor, and handheld mobile mapping systems based on vehicles and suggest that the recent system development trends are moving toward lowering the unit prices. The mobile mapping system is currently being developed as a platform for the application of geospatial information construction and the launch of low-cost models. The development of data processing technologies, such as automatic matching and the launch of low-cost models, are forming a basis for the application of mobile mapping systems in the field of geospatial information construction.

• Journal of Energy Engineering
• /
• v.20 no.4
• /
• pp.318-329
• /
• 2011

This study focuses on enhancing the accuracy of consumption function of Korean natural gas for city gas. It is using time-series model with time-varying coefficients taking into account the recent abnormal temperature phenomenon and the changing gross domestic product (GDP) as important variables. This study estimates the cointegrating regression model for the long-run estimation and the error correction model for the short-run estimation. The consumption function of Korean natural gas is estimated to be influenced by the time-varying coefficients of GDP and temperature. Using the estimated time-series model with time-varying coefficients, this study forecasts the consumption of natural gas for city gas from July 2011 to December 2012. The consumption in 2011 would be 18,303 thousand tons, which is little different from the imported 18,681 thousand tons. The consumption of natural gas for city gas in 2012 is forecast to be 19,213 thousand tons. The consumption model of this study is needed to extend by considering the relative prices between natural gas and its substitutes, the scale of consumers and others.

• Land and Housing Review
• /
• v.4 no.1
• /
• pp.43-54
• /
• 2013

This This paper investigates the variation of the factors to determinate housing price in Seoul metropolitan area after sub-prime financial crisis, in Korea, using a VAR model. The model includes housing price and housing rent (Jeonse) in Seoul metropolitan area from 1999 to 2011, and uses interest rate, real GDP, KOSPI, Producer Price Index and practices to impulse response and variance decomposition analysis to grasp the dynamic relation between a variable of macro economy and and a variable of housing price. Data is classified to 2 groups before and after the 3rd quater of 2008, when sub-prime crisis occurred; one is from the 1st quater of 1999 to the 3rd quater of 2008, and the other is from the 2nd quater of 1999 and the 4th quater of 2011. As a result, comparing before and after sub-prime crisis, housing price is more influenced by its own variation or Jeonse price's variation instead of interest rate and KOSPI. Both before and after sub-prime financial crisis, Jeonse price is also influenced by its own variation and housing price. While after sub-prime financial crisis, influences of Producer Price Index, KOSPI and interest rate were weakened, influence of real GDP is expanded. As housing price and housing rent are more influenced by real economy factors such as GDP, its own variation than before sub-prime financial crisis, the recent trend that the house prices is declined is difficult to be converted, considering domestic economic recession and uncertainty, continued by Europe financial crisis. In the future to activate the housing business, it ia necessary to promote purchasing power rather than relaxation of financial and supply regulation.

• Journal of Korea Technology Innovation Society
• /
• v.15 no.2
• /
• pp.262-276
• /
• 2012

Transactions activation of intangible assets has become became a key factor for corporate survival and successful business in the knowledge economy. Thus, demand in correctly valuating technology has increased. The market approach is the reliable method because of the premise that the market value of an asset is directly related to the prices of comparable, competitive ones. However, it can be practically impossible in many cases because it is hard to find identical transactions, which are generally closely guarded business secrets. As a result, most of technology valuation is conducted by the income approach and this approach is used to derive estimates for such unobserved variables. In September 2011, the Ministry of Knowledge Economy enacted a law for operational guideline standards for technology valuation to encourage the domestic technology valuation market. The enforcement recommended that the market approach have precedence over other approaches. If this approach cannot be applied, then the valuator should writing that he used other approaches. In practice, it is hard to know whether or not information about comparable transactions exists. The proposed process provides valuators to assess suitability for practical use of market approach through the observation process of technology transactions information. At the same time, it offers them the opportunity to gain validity when using other approaches.

• Journal of Families and Better Life
• /
• v.32 no.2
• /
• pp.99-116
• /
• 2014

Domestic PB products have emerged and been distributed by hypermarkets, department stores, convenience stores, as well as TV home shopping channels and Internet shopping malls. However, the fierce competition among the distributors due to the emergence of the PB products have caused the diversion of consumers' recognition to be reduced weight and volume as well as had the effect of misleading consumers about the prices. The width of the PB product price's up and down is larger than the width of the NB product. Thus, following consumers' purchases of PB products, there has been an increasing number of consumer complaints. In order to research consumers' recognition of PB products and to examine how consumers' recognition and information search comparative to PB products affect consumers' dissatisfaction, an online survey targeted consumers with experience purchasing PB products. This study was conducted and analyzed using SPSS 19 Statistics. The findings can be summarized as follows. Even though more consumers who frequently purchased and used the PB products, the more they compared with information search comparative to the NB product and then purchased the PB product. We investigated the result that the relevant variables of consumer complaints have some relative influence in the purchasing of PB products. There will be a higher probability o the group having high recognition about price and safety not making consumer complaints in comparison with the probability of other consumers making complaints after the purchase of a PB product. Therefore, based on the results of this study, companies need to build a system so that they can figure out consumers' needs in order to prevent the occurrence of consumer complaints related to the products of distribution companies' brands. By means of the system, it is also necessary for companies to collect consumer complaints and analyze them by category. Then they eventually should develop a consumer-centered management system which may contribute to quality improvement, product development and the reduction of consumer complaints.

• Journal of Digital Convergence
• /
• v.12 no.10
• /
• pp.97-108
• /
• 2014

The purpose of this study was to seek for solutions of activating convention hotels entering to the newly created market, focused on the case study of the convention hotel in KangwonLand in the competitive MICE environment. According to the analysis for reception setup for MICE, it is urgently required to improve shopping facilities, securing manpower, the accessibilities in KangwonLand convention hotel. This study suggests several ways to identify differentiation such as facilities discriminations, reasonable prices when holding conventions/events. It is also proposed that there is a need to focus incentive tour when marketing. To succeed in hosting events of MICE at the convention hotel, it appears to be considered to host large scale of domestic or overseas events, to measure reasonable room rates, promote niche market through middle or small scale events, attract customers to revisit and save transportation costs for participants. From the study, it is expected to find efficient ways to activate convention hotels through MICE market entry.