• The Journal of Fisheries Business Administration
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• v.22 no.1
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• pp.77-100
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• 1991

This study has made an attempt to analyze the determinants of Foreign Direct Investment (FFI) by Korean Fishery firms. The questionaire survey on individual firm's recognition and the determinants of Foreign Fishery Investment (FFI) was performed, yielding the following results. First, the main object of FFI is to reserve fishing ground. The result of the statistical analysis shows that import ratio for domestic market (DOM) is a significant variable of FFI. These two facts indicate our FFI is resouree-oriented in terms of the object and motive. Second, FFI is primaily determined by firm-related factors rather than country- related factors. The significant variable in firm-related factfors is the number of departments of the investing firm (DEPT). Another notable result is that fishing fee is not an influential variable in FFI decision.

• 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 Regional Science Association
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• v.15 no.1
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• pp.1-22
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• 1999

It is widely known that optimal control techniques are useful to measure the performance of macroeconomic policy. This paper examines how the method could be applies them to the evaluation of the public investment expenditures conducted by the local government of Choongbook Province in Korea. The numerical example illustrates the usefulness of the methods for the evaluation of the regional economic policies suggesting the main findings as follows: (1) If the local government of Choongbook Province had increased the public investment expenditures allowing the budget deficits for the first three to four years during the period between 1985 and 1990, its GRDP would have early risen to the ratio of more than three percent of Korea's total GDP. (2) The additonal welfare losses incurred by not following the optimal policy were 0.191 in 1986, 0.607 in 1987, 1.585 in 1988, and 0.132 in 1989, indicating that the public investment policy proves to be the best in 1989 and the worst in 1988.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.28 no.1
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• pp.134-139
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• 2005

There are two approaches for evaluating two or more investment projects. One is a total investment approach and the other is an incremental investment approach. We present that ranking projects by the latter is not sufficient for an investor to accept the next best alternative. We prove that ranking projects by the former is superior to that by the latter. We also prove that the ranks obtained by the criteria like ORR and B/C ratio are consistent to the ranks by DCF criteria. However the result is different when IRR is adapted.

• Korean Journal of Organic Agriculture
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• v.28 no.1
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• pp.59-68
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• 2020

This study analyzed and suggested management situations and improving issues on a consumer cooperatives which has supplied environmentally friendly agricultural products from the year 2002. Indices of management analysis are stability ratio, activity ratio and profitability ratio. Management Stability ratio indices are debt ratio, net worth ratio, fixed ratio and current ratio. Management activity ratio ones include fixed assets turnover and net worth turnover. And profitability ratio is showed through return on investment, net return on sales and return on equity. In order to analyze these indices, financial statements after the closing entires are used each year.

• Management & Information Systems Review
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• v.32 no.2
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• pp.21-46
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• 2013

The purpose of this paper is to find impacts of financial activities-financing and investment of Venture Firms during pre-listing periods on the firms' Venture Firm's listing(delisting). The several ratios financial variables relevant to the financing and investment were examined whether there are difference or not between two venture firms groups. The results of study can be summarized as follows. First, the firms of successful group have fewer numbers of equity financing and higher times of premium in issuing stocks than those of failed firms but there is no significant difference in the required time from startup to listing the KOSDAQ. Second, there is no significant difference in the ratio of capital increase in IPO between two groups but additional survey reveals that the successful firms financed equity in IPO by higher numbers of premium than failed firms, which can makes the major shareholder of the successful firms maintain high rayios share of stock. Third, the ratio of working capital investment of the successful firms is significantly higher than that of failed firms, on the other hand the failed firms' ratios of equipment and repayment investment are higher than those of successful firms. Finally, the ratio of R&D investment has no difference between two groups, this result is against the expectation, which is to be further analyzed.

• Environmental and Resource Economics Review
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• v.29 no.2
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• pp.219-246
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• 2020

From the Phase II (2018~2020) of K-ETS, the offset credit from 'CDM projects that domestic companies and others have carried out in foreign countries' can be used in the K-ETS. As a result, stakeholders in the K-ETS market are actively developing overseas CDM projects, such as the 'high-efficiency cook stove project'. which can secure a large amount of credits while marginal cost is relatively low. This paper develops the investment decision-making model of offset project for the 'high-efficiency cook stove project' using the real option approach. Under the uncertainty of the emission allowance price, the optimal investment threshold (p^⁎) is derived and sensitivity analysis is conducted. As a result, in the standard scenario (PoA-S), the optimal investment threshold is 29,054won/ton, which is lower than the stock price (p^⁎_spot). However, allocation entities are not only economics in the CDM project, but also CDM risk factors such as non-renewable biomass ratio, cook stove replacement ratio, equity ratio with host country, investment period and submission limitation of emission allowance. In addition, offset project developers will be able to derive the optimal investment threshold for each business stage and use it for economic feasibility checks.

• Journal of Convergence for Information Technology
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• v.11 no.2
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• pp.82-89
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• 2021

The objective of this study is to propose a new Glide Path that dynamically adjusts the risky asset inclusion ratio of the Target Date Fund by simultaneously considering the market's forecast volatility as well as the time of investor retirement, and to compare the investment performance with the traditional Target Date Fund. Forecasts of market volatility utilize historical volatility, time series model GARCH volatility, and the volatility index VKOSPI. The investment performance of the new dynamic Glide Path, which considers stock market volatility has been shown to be excellent during the analysis period from 2003 to 2020. In all three volatility prediction models, Sharpe Ratio, an investment performance indicator, is improved with higher returns and lower risks than traditional static Glide Path, which considers only retirement date. The empirical results of this study present the potential for the utilization of the suggested Glide Path in the Target Date Fund management industry as well as retirees.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.329-342
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• 2021

Purpose - The purpose of this study is to analyze the effect of investment by the National Pension Service, which has a high share as a single fund, on the dividend payout ratio. Design/methodology/approach - This study secured a share through DART of the Financial Supervisory Service and disclosure of the National Pension Service. We also used a fixed-effects model and 2SLS to analyze the data. Findings - First, it was found that there was a possibility of conflicting interests among shareholders concerning the company's dividend payment policy. Second, in the range of 3% to 4.9% of the National Pension Service shareholding, an additional increase in the holding ratio was found to have a positive (+) effect on the dividend rate. Third, after the introduction of the Stewardship Code, it was found that the increase in ownership of the fund had a positive (+) effect on the company's dividend payout ratio, regardless of the share ratio range. Moreover, the relationship between the fund ownership and the dividend payout ratio showed a clear positive relationship when free cash flow was high along investment opportunities were low. Research implications or Originality - First, This study included less than 5% of the share in the analysis. Second, We used the recent changes in fund shareholder activities. Third, We tested an instrumental variable to confirm the relationship between the National Pension Service share and the dividend ratio.

• 사회경제평론
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• v.29 no.1
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• pp.119-154
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• 2016

Kalecki thought that monetary and financial factors play very important roles in the processes of investment decision and expenditure. He also acknowledged that interest rate is monetary phenomenon and investment finance is provided by banks prior to savings as Keynes did, and suggested that the more is the debt, the greater is the risk of debtor and lender. However, in developing investment theory he dismissed those monetary and financial factors or substituted into actual profit or savings, because he aimed to construct the investment theory to be able to explain the 'automatic mechanism of the fluctuation of capitalist economy'. Thus it is argued that Kalecki did not consider the monetary and financial factors in his investment theory. This paper aims to modify Kalecki's investment theory so that it incorporates the monetary and financial factors, such as the willingness of banking system to lend, interest rates, the ratio of leverage which had been dismissed by him. The Kaleckian investment theory that incorporates the monetary and financial factors in Kalecki's theory of investment allows us to explain not only an automatic and regular business cycle, but also irregular excessive investment and high leverage, consequent risk increase and financial crisis occurred in the economy with developed financial system.