• KIEAE Journal
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• v.15 no.6
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• pp.57-62
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• 2015

Purpose: This study, which is based on the investment payback periods, aims to suggest the proper insulation level which can be adapted to the Defense Military Facility Criteria regarding the military residential condominiums. For the energy performance simulation, it is required to collect the residential data regarding the military condominiums and climatic data concerning the regions they belongs to. The estimates through energy performance simulation are the regional heating loads and the heating transmission coefficients of building components. Method: With the heating loads, the annual heating cost saving per square meters is assessed. With the heating transmission coefficients of building components, the additional insulation installment cost per square meters is evaluated. With two outcomes, one as an annual value and the other as a present value, the investment payback period is calculated. Result: In result, it could be concluded that 55~70% insulation ratio can lead a superior residental environments as well as be contributed to the national policy associated with zero-energy buildings because the estimated investment payback period is shorter than the life span of the military residental condominiums. This upshot can be used as a foundation to enactment the Defense Military Facility Criteria associated with military residential condominiums.

• The Journal of Bigdata
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• v.1 no.2
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• pp.21-34
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• 2016

There are various investment strategy reports available online, prepared by many financial analysts. If the correlation between the title of the report and analyst forecast can be found, we can tell from the title whether analyst' forecast will be reliable or not. The objective of this study is to see the correlation between the title of analyst investment strategy report and the actual result of forecast by using the Text Mining technique. The result of actual analysis showed that "strong buy and sell call" appeared in the title lead the higher accuracy of analyst forecast and fulfillment ratio. The results that potential investors can get better information by reading the title of the analyst report. We hope that this study could be the basis for new methodologies in this area.

• Journal of Digital Contents Society
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• v.19 no.8
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• pp.1515-1525
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• 2018

Security threats in the 4th Industrial Revolution have expanded to the issue of safety, but the environment for information security of domestic companies is still at a low level. This study aims to propose policy implications by empirically analyzing factors affecting investment intention. We investigated the state of information security and protection behavior and expanded UTAUT to investigate correlations. The results showed that information assets affect facilitating conditions, and perceived and new concerns have impacts on social influence. Social influence affect experience and habits, but the impact on security investment intentions was rejected. Facilitation conditions, previous experiences and habits have great influences on investment intention, new service security investment intention. The influence of perceived and new concern are low or rejected. There are moderating effects between types of business, size, security organization, experience of infringement, security personnel ratio, and personal information collection. This study will help to establish policies for enhancing the level of information security.

• Journal of Korean Society of Rural Planning
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• v.17 no.1
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• pp.13-27
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• 2011

This study analyzed the budget investment plans for the unit-project items(UPI) of 176 project districts for the rural village comprehensive development projects (RVCDP). This study classified the master plan reports of 176 project districts into 88 unit project items in aspect of project management, in order to analyze characteristics of distribution of budget in each project item. Most of all unit project items have similar types of uniform distribution with plus skewness in frequency pattern analysis except the total budget of the project district. This study analyzed the characteristics of budget distribution per province, year, and geographical types of region. Furthermore this paper also analyzed ratio of budget in unit project items to find out distribution pattern of each budget between project items over time. The hierarchical system for UPI of RVCDP consisted of three steps, which are 4 items of the first step on Strength of Rural-urban Exchange & Regional Capability (RURC), Green-income Infrastructure & Facility (GIF), Culture- health-welfare Facility, and Eco-environment & Landscape facility (ELF), 13 items for the second one, and 52 items for the third project items. From the results of the budget investment analysis for 5 years from 2004 to 2008, the budget investment ratios of RURC and ELF have steady state for every year, while GIF in decreasing and ELF in increasing over time. The ratios of UPI on infrastructure were decreased, whereas those on culture, health, and welfare were increased. Portion of tow project items among 52 items, which are community centers for village residents and rural experimental study facility, has 30% of total budget investment. Futhermore, the budget ratios of seven project items showed 50% of total budget. Average value of project budgets for five years was optimized as a type of exponential function in the case of decent array for ranking order.

• Journal of the Korean Society of Clothing and Textiles
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• v.34 no.9
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• pp.1546-1557
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• 2010

This study analyzes the status of foreign direct investment in Korean textiles and fashion firms and investigates the factors determining their performance. A total of 1,251 cases (including 1,116 manufacturers and 135 of distributors from the 2009/2010 Korean Overseas Business Directory published by KOTRA) were used. The results of this study are as follow: 1) In the case of manufacturers, China was the most heavily invested in country, and the Asian region that included China, Vietnam, Indonesia and Bangladesh consisted of 80% total investment. In cases of distributors, China was also the first ranking country and other countries, that included Vietnam, United States, and Japan are major ones. 2) In terms of the foreign entry mode, wholly-owned subsidiaries represented 90% of total cases. As the index of the degree of localization, the ratio of local employees was very high. 3) Different countries were utilized by year, type of business, and area of process. In manufacturers, Indonesia, China, and Vietnam were the most heavily utilized countries in the 1980s, 1990s, and 2000s, respectively. For distributors, China was the major market ill the 1980s and 1990s but Vietnam has emerged as the biggest market in the 2000s. In terms of area of process, China was for manufacturing fibers and fabrics, Vietnam was for most items, Indonesia was for assembly, knit, accessories, and Bangladesh was for embroidery and accessories. 4) The determining factors of the age of foreign business as the proxy index and performance of foreign business entry, were different by the type of business. For manufacturers, four factors including the dollar amount of investment, number of local employees, the mode of foreign direct investment, and entry to China were significant. On the other hand, only two factors including the dollar amount of investment and entry (other than China) were significant distributors.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.523-529
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• 2017

This study analyzed the financial information between 2011 and 2014 comparing management performance and utilization of capital and human resources between private non-profit general hospitals and regional public hospitals operated as general hospitals. The purpose of this study was to enhance the productivity for financial independence of regional public hospitals. Comparison analysis variables were value added to the total assets, value added to the productive activity tangible fixed assets, value added to personnel expenses, ratio of value added, and operating margin to revenues. According to the analysis results, regional public hospitals showed lower investment efficiency indicator and higher ratio of value added, as well as significantly lower operating margin-to-revenues compared with private non-profit general hospitals. Moreover, the effect of investment efficiency indicators on operating margin-to-revenues was value added to the productive activity of tangible fixed assets and value added to personnel expenses in regional public hospitals; the value added to personnel expenses in private non-profit general hospitals had a significant effect on the operating margin-to-revenues, the effect of value added to personnel expenses was the greatest. Therefore, it is necessary to asset utilization to the revenue and propriety of human resources to personnel expenses in regional public hospitals.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.11-26
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• 2023

This study aimed to empirically analyze the effect of Korean companies' FDI(Foreign Direct Investment) on their financial performances, particularly divided into profitability, stability, growth and activity, while comparing distinct financial performances between SMEs(small and medium-sized enterprises) and large enterprises whose corporate attributes are different from each other. As research subjects, this study selected FDI Korean companies from the directory of oversea-expanded companies of KOTRA(Korea Trade-Investment Promotion Agency) and used financial data from a total of 409 companies(136 SMEs and 273 large enterprises) with complete financial data for the first five years after the initial investment out of all the financial data from 1990 to 2021. The analysis results can be summarized as follows; In the profitability sector, FDI had positive effects on ROA(Return on Assets) and ROS(Return on Sales) of SMEs, while having negative effects on those of large enterprises to the contrary. In the stability sector, FDI had no statistical significance for SMEs, while having significantly negative effect on LEV(Debt to Equity Ratio) of large enterprises. In the growth sector, FDI had significantly negative effect on AGR(Asset Growth) of SMEs, but showed no significant results for large enterprises. In the activity sector, FDI showed no statistical significance for SMEs, while having positive effects on ATR(Asset Turnover Ratio) and FATA(Fixed Asset Turnover Ratio) of large enterprises. In conclusion, it was found that when having made FDI, SMEs and large enterprises showed different financial performances from each other in terms of profitability, stability, growth and activity.

• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.25-51
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• 2008

In this paper, we analyse empirically the fixed asset investment smoothing of working capital of firms listed on Korea Securities Market. The main results of this study can be summarized as follows. Firms will seek to lower long-term cost by smoothing fixed asset investment and maintaining stationary investment with working capital. Working capital is not only an important use of fund, but also a source of liquidity that should be used to smooth fixed asset investment relative to cash flow shocks if firms face financial constraints. Working capital investment is more sensitive than fixed asset investment to cash flow fluctuations. If firms face financial constraints, working capital investment will compete with fixed asset investment for the limited pool of available cash flows. So, fixed asset investment will have negative relationship with working capital investment. However, criticism that the positive correlation between cash flows and fixed asset investment could arise simply because cash flows is proxy variable for investment demand. Finally, controlling for the fixed asset investment smoothing effects of working capital results in a much larger estimate of the long run impact of financial constraints. Financial constraints is measured by dividend payout ratio and market access level. Fazzari et al. (1988), Fazzari and Petersen (1993), and Faulkender et al. (2008) emphasize that low dividend firms or market unaccessible firms are more likely to face financial constraints, and rarely make use of new equity issuing. The results from empirical analysis show that financial constraints can be better explained using 'adjustment cost' concept. Specifically, the results show that financial constraints exist and that in order to measure financial constraint effects more succinctly, fixed asset investment smoothing effects with working capital should be considered.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.29 no.5
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• pp.689-700
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• 1996

Fisheries products have to be produced and maintained by work processes from the environment, sometimes helped by people. In Korean fisheries both environmental production and its economic use are included within the windows of system approach. EMERGY is the sum of all inputs expressed as one form of solar energy required directly and indirectly to make a product. Calculating EMERGY flows into Korean fisheries evaluates the real wealth contributed by environmental production and its economic use. Several indices calculated from EMERGY analysis table and a three-arm diagram give perspective on the type and efficiency of the environmental uses. Net EMERGY yield ratio is a measure of its net contribution to the economy beyond its own operation. For adjacent waters fisheries in Korea, the net contribution to the economy is 11.85 or higher, which is a stimulus to the economy that is able to purchase it. EMERGY investment ratio measures the intensity of the economic development and the loading of the environment. The ratio for Korean fisheries as a whole is 0.50, for the adjacent waters fisheries 0.09 and for the shallow-sea cultures 1.28, which is lower than the same index for the industry of the developed country (7.0). The component of environment drawn into production are large compared to purchased investment in Korean fisheries. Much more EMERGY is contained in fisheries products than in the paid services used to process the products. The EMERGY exchange ratio for Korean fisheries as a whole is 6.98, for the adjacent waters fisheries is 10.69 and for the shallow-sea cultures is 1.25. Using market values to evaluate wealth of environment resources is found to be many times too small. Money is paid only to people for their contribution, and never to the environment for its contribution. Macroeconomic value is the appropriate measure for discussing large-scale considerations of an economy, including environment and human goods & services.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.9 no.14
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• pp.49-58
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• 1986

Those facts I have studied on the theoretical characteristics of stock price earning ratio related with firm evaluation are as followings. First, I have investigated stock valuation analysis under certainty in view of Miller's, Modigliani's and Linter's theories in Chapter Ⅱ, and it is found that stock valuation under uncertainty to which the basic model of MM theory and the concept of capitalization ratio are applied is the same output, as in the case under certainty. And I have examined the stock valuation of growth corporations in which net investment, total capitals and operating profits are expected. Second, I have reexamined the fact that stock price profits are the erotical indices of firm valuation and the firm valuation on the basis of stock price earning ratio in Chapter III. As a whole, I have surveyed the stock price earning ratio theory of the growth stocks and there have been found some problems as such scholars as Malkiel and others have suggested focusing on the stock price structure of growth stocks. To conclude, there must be incessant efforts for the study of security analysis to make it develop ideally.