• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.5 no.1
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• pp.45-67
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• 2010

On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

• 한국벤처창업학회:학술대회논문집
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• 2010.08a
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• pp.139-160
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• 2010

On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.15-28
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• 2009

The purpose of this paper is to show the empirical extraction way of benchmarking ports for overcoming the shortcoming which the traditional DEA method has by using 20 Korean ports in 2003 for 2 inputs (birthing capacity, cargo handling capacity) and 2 outputs(Export and Import Quantity, Number of Ship Calls). Because DEA method has produced the limited set of efficient units which are reference to inefficient units respective of their differences in efficiency scores, it is necessary to adopt the more feasible benchmarking information according to the path analysis(tier or stratification). The core empirical results of this paper are as follows. Benchmarking ports against inefficient ports according to the tier analysis are that Masan Port(Janghang$\rightarrow$Jeju$\rightarrow$Seogoipo$\rightarrow$Yeosu), Jinhae Port(Janghang$\rightarrow$Mogpo$\rightarrow$Seogoipo$\rightarrow$Wando), Pohang&DonghaePort(Janghang$\rightarrow$Samcheonpo$\rightarrow$Pyungtag$\rightarrow$Samcheog), and Sogcho Port(Janghang$\rightarrow$Mogpo$\rightarrow$Seogoipo$\rightarrow$Wando). The policy implication to the Korean seaports and planners is that Korean seaports should introduce the new methods like Tier analysis of this paper for evaluating the port performance and enhancing the efficiency in short term, mid term, and long term according to the tier 3 stage, the tier 2 stage, and the tier 1 stage with original DEA stage.

• Korean Journal of Mineralogy and Petrology
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• v.37 no.1
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• pp.1-11
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• 2024

World stone production in 2021 stood at 162.5 million tons, up by 7.5 million tons, or 4.8 percent, compared to the previous year when the production came in at 155 million tons. Six top countries with the most of stone production were China, India, Turkey, Brazil, Iran and Italy and these six countries accounted for 72.8 percent of total production in the world. Stone exports stood at $21.68 billion in 2021, up by $2.3 billion from the previous year. Exports of raw materials and processed stones stood at 54.4 million tons, up by 2.98 million tons from the previous year. In terms of aggregate exports, exports of natural stones increased by $2.3 billion to $21.7 billion while exports of artificial stones rose $2.6 billion to $13.6 billion in 2021 compared to the previous year. The average price of stone (Code: 68.02) was up by $65.2 per ton to $794.82. The price of board, processed stone, an ingredient for building materials, increased by $3.52 per square meter to $42.96 per square meter. Recycling was always the problem as the volume of the total quarry was 333.5 million tons, of which only 28.8 percent were finished products and the remaining 71.2 percent were waste generated from stone extraction and processing. Korea's stone exports stood at $1.97 million in 2021, down 38.3 percent on year, while imports were up 8.6 percent to $758.9 million. Stone exports are expected to grow to 66.1 million tons in 2025, while usage is expected to reach 108.92 million tons, or 2 billion square meters.