• Journal of Applied Tourism Food and Beverage Management and Research
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• v.13 no.1
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• pp.81-110
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• 2002

The temporary tax deduction on investment cutting the corporate income tax within 10% of the amount of investment is aimed at stimulating the investment for economic activity. 25 business sectors are applied to this tax law and in tourism, the accommodation registered by tour promotion law and international convention plan business belong to it. I'd like to mention the problem of the temporary tax deduction on investment amount for hotels and suggest better solutions. This tax law is so temporary applied that we shouldn't get tax deduction after June 30, 2002. So, we can't get income tax deduction on the investment out of the available period. And further more this tax law has a rule not real investment but solely new project investment for hotels. There are numbers of difference between real investment and new project investment. The amount of investment is based on an object of acquisition taxation. And also there are numbers of difference between real investment and an object of acquisition taxation. For example, landscape construction is a great part of hotel construction but it's not an object of acquisition taxation. For running hotel business, we also need lots of equipments such as linens utensils for restaurant and decorations for hotel interior. But these are also excluded from this tax law. As you know, these equipments can be regarded as product equipments in manufacture industry. Therefore we should take the specificity of hotel investment into consideration and expand the role of the temporary income tax deduction on investment amount for hotels.

• The Korean Journal of Health Service Management
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• v.7 no.3
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• pp.161-176
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• 2013

This research analyzed Raise Capital type and Investment Efficiency for non-profit hospitals in Korea. 152 cases of financial information from 2007 to 2010 were utilized for analysis. As a result of analysis, Raise Capital for Borrowings to total assets was primarily used, taking around 40% on average, and the method of Raise Capital with significant difference among Medical Institutions was Liabilities in Excluded Borrowings to Total Assets and Capital Stock & Capital Reserves to Total Assets. Besides, the relation between Invested capital and Investment efficiency was opposite each other in the non-profit hospitals, and Region was an important element influencing over Productivity per Value Added. In addition, in the investment activity of non-profit hospitals in the light of Investment Efficiency, only hospitals among Medical Institution types had a character of Capital Intensive, and General Hospital and Geriatric & Long-term Medical Care Hospital among Medical Institution types showed a character of Labor Intensive in the light of Performance.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.28 no.2
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• pp.81-93
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• 2005

The main purpose of this paper Is to develop the Management Resource Analysis System for KOTRA which is based on Activity Based Costing(ABC). Because the products and services of KOTRA are exclusive and include a government subsidy, we need develop a different system from the private firm's ABC system. The Management Resource Analysis System that we propose is embodied using JAVA and JSP within an UNIX environment and developed as a Web-enabling base. It is expected for aiding a manager's decision-making such as resource inquiry, standard resource analysis, estimating the ratio of a government subsidy, case based reasoning, what-if analysis. The results of this paper suggest what points are to be considered when we apply ABC for Government Investment Corporation.

• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.4
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• pp.19-33
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• 2015

Recently, interest in research and development (R&D) investment decisions have increased among Korean domestic enterprises. However, existing R&D investment studies only focused on government R&D investment policies while only a few studies investigated firm level R&D investment. Prior literatures also overlooked the feedback loop between R&D investment and firm performance. Therefore, this paper identifies a system dynamics model for R&D investment decision making in domestic electronics firms. The conceptual model is derived from R&D investment-related theories found in bodies of literature on company performance, enterprise activity, and market maturity. This study investigates the dynamic feedback between R&D activities and sales using the system dynamics model. In other words, the system dynamics model is used to explain the change in the closed feedback circulation structure in R&D investment activities including technology development, production process, and marketing that subsequently result in sales increase and re-investment into R&D from the generated revenues. There are two major results. First, a similar ratio of investment on technology development and production process derives the higher company sales. Second, regardless of market maturity, marketing investment ratio positively affects sales and R&D budget growth. This study provides a system dynamics model to find the optimal ratio for R&D investment and suggests managerial strategic implications on electronic firm R&D investment decision making under market maturity condition.

• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.170-186
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• 2006

The guarantee funds for government policy fund, venture capital investment fund, technology guarantee debt are the core parts of the external financing system in the constant technology innovation company. However, the enterpriser's requirement to keep the technology innovation with minimized management intervention and policy maker's hope to advance technology development with clear operation of funds is enough to request for research of the project investment plan to the R&D project. This paper will analyze whether technology innovation company that creates cash flow prefers to the project investment as a financing program or not, and if prefers, what characters of company affect on this preference. The more the company that pursuit the additional R&D activity separated to on-going items becomes over the fixed size, the more prefers the project investment as future external fund-raising. Together with that, this paper suggests that we can apply the plan like special purpose vehicle, SWORD(Stock Warrant Off-Balance sheet R&D) and R&D Limited Partnership as R&D project investment policy, and improve the system itself.

• 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 Korea Trade
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• v.24 no.2
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• pp.15-30
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• 2020

Purpose - This paper investigates the theories and practices of Most-Favored-Nation (MFN) clauses. The MFN clause became a controversial issue during the past two decades, especially in the context of investment arbitration. This paper aims to clarify a reasonable way to apply MFN clauses. It in particular focuses on the territoriality requirements and the scope of investment activity which are common features included in most of investment treaties. Design/methodology - This paper analyses two investment arbitration cases, Ansung Housing and Beijing Urban Construction. Through the case study, this paper reveals limitations of the currently dominant views on the operation of MFN clauses. It then tries to reconstruct the system of MFN application within the relevant arbitration principles. Findings - Tribunals of recent investment arbitration as represented in the two cases above employed strict literal interpretation of the treaty provisions, especially of the phrase "in its territory". This paper finds a more functional interpretation is appropriate and consistent with theories of public international law and developments of global economy. Originality/value - Existing studies either stuck to literal interpretation or suggested more flexible interpretation of the phrase "in its territory" without full explanation. This paper tries to fill the gap in the existing discussion by analyzing legal foundations and theoretical structure for an effective interpretation of MFN clauses.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.635-641
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• 2021

This paper aims to find out the main factors that are important in determining the size of investment in the Jordanian productive sectors. For this purpose, the study used panel data for four Jordanian productive sectors over the period 2000-2017. Also, fixed-effects modeling was carried out to identify the relationship between investment and its potential determinants. Empirical investigations of the four productive sectors reveal the following results: The real value of sector's production and the real value of credit facilities have a positive and significant impact on investment, while the real interest rate has a negative effect on investment in the Jordanian productive sectors. Also, at the sector level, agriculture was more responsive to changes in the real value of credit facilities, while other sectors were more responsive to changes in the real value of sector's production. According to these results, it seems that some policy actions should be taken to enhance the size and the role of investment in the economy. For example, policymakers should adopt a mixed policy and expand the provision of credit facilities, especially to the agricultural sector, to enhance agricultural activity in a manner that ensures the improvement of infrastructure and land reclamation.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.1
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• pp.50-56
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• 2017

The IRR (internal rate of return) is often used by investors for the evaluation of engineering projects. Unfortunately, it is widely known that it has serial flaws. Also, External rate of returns (ERRs) such as ARR (Average Rate of Return) or MIRR (MIRR, Modified Internal Rate of Return) do not differentiate between the real investment and the expenditure. The PRR (Productive rate of return) is faithful to the conception of the return on investment. The PRR uses the effective investment instead of the initial investment. In this paper, we examined two cases of the engineering project. the one is a traditional engineering project with financing activity, another is the project with R&D. Although the IRR has only one value, it overestimates or underestimate profitabilities of Engineering Projects. The ARR and the MARR assume that a returned cash reinvest other projects or assets instead of the project currently executing. Thus they are only one value of a project's profitability, unlike the IRR. But the ARR does not classify into the effective investment and non-investment expenditure. It only accepts an initial expenditure as for an investment. The MIRR also fails to classify into the investment and the expenditure. It has an error of making a loss down as the investment. The IRR works as efficiently as a NPW (Net Present Worth). It clearly expresses a rate of return in respect of an investment in an engineering project with a loan. And it shows its ability in an engineering project with a R&D investment.

• Journal of Korean Society for Quality Management
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• v.31 no.4
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• pp.1-18
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• 2003

Quality is a critical competitive factor in today's environment because of the impact of quality on costs and delivery. Many companies regard quality as a key concept of company strategy in order to achieve the competitive edge. Measuring and reporting quality cost is the first step in quality management program. The supposition of quality cost model is that investment in prevention activities will bring rewards from reduced failure costs, and that further investment in prevention activities will show profits from reduced appraisal costs. In this study, the degree of quality cost deviation is conceptualized. This means a deviation between the ideal and present ranking in the amounts of quality cost categories. This study analysed that the effect of its deviation on quality management activity and performance variables. However, there are no difference in these variables. The major reason is that most of companies are endeavoring for quality management but operating quality cost system unsystematically. The review against a prevention and appraisal activity is necessary.