• Journal of Information Technology Services
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• v.5 no.1
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• pp.1-16
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• 2006

This paper analyzes the technical efficiencies of 40 Korean system integration firms using data envelopment analysis (DEA) and Malmquist productivity indices. Technical efficiencies on average had been decreased over the five year period and the efficiency difference between best practice firms and catch-up firms had been increased during this period, meaning that the industry structure has become matured and the possibilities for catch-up firms to be efficient are not remained so much. The differences in efficiency by the differences in ownership structures are statistically significant. It implies that the efficiencies of group-affiliated firms have come from benefits such as the captive market umbrellas, not from their own management competencies. In addition, the technical efficiency is highly correlated with captive market sales, information productivity, sales per employees, rates of value added, returns on invested capital, and EBITDA.

• Journal of the Society of Naval Architects of Korea
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• v.59 no.6
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• pp.372-384
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• 2022

Total shipping accounts for 2.9 % of the annual average percentage of global anthropogenic GHG emissions. The International Maritime Organization implements EEDI (Energy Efficiency Design Index), Energy Efficiency eXisting-ship Index (EEXI), and Carbon Intensity Indicator (CII) as regulatory frameworks for shipping decarbonization. The Republic of Korea has enforced the Act on Development and Popularization of Greenship from 2020 and publicly announced the 1st national plan which was named 『2030 Greenship-K Promotion Strategy』 for the activation of a greenship market. The Greenship Certification Scheme is going on for the sustainability of Korean shipbuilding and shipping industries, to secure clean maritime environments, as well as to contribute to the national economy. Greenship Certification guarantees the credit of such eco-friendly technologies and products for shipping. The certification is going to be the basis of industrial competitiveness in coastal and international shipping. This study investigates an existing certification process, identifies the limitations, and proposes the process improved with several case studies. The improved certification scheme may have rationality for Net-zero with regard to climate alignment.

• Journal of Korea Trade
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• v.25 no.1
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• pp.169-183
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• 2021

Purpose - This paper analyzes the effect of the agricultural export market for Korea's new southern countries in consideration of logistics efficiency. In order to expand Korean agricultural exports, the logistics performance index, national income, per capita income, consumer price index, distance and FTA are included. Through empirical analysis, the impact of logistics efficiency on Korean agricultural exports is derived and measures are proposed to expand exports in the future. Design/methodology - The analytical model of this study takes into account the import demand factors of the new southern countries for Korean agricultural exports. A research model was established based on prior research based on the gravity model, which is widely used in international trade effect analysis. In particular, logistics efficiency measures the effect on Korean agricultural exports using the logistics performance index and examines the effect by deriving factors for export expansion. Findings - The main findings of this study can be summarized as follows: The higher the logistics efficiency of the new southern countries in exporting Korean agricultural products, the more directly they have an effect on expanding exports. In addition, it was analyzed that the expansion of Korean agricultural exports has a positive effect on the other countries' national income, per capita income, consumer price index, population, and FTA. Based on these results, the importance of efficient logistics management in agricultural exports has been emphasized. Originality/value - There are not many studies on the export of agricultural products by logistics efficiency. However, prior studies that have adapted to manufacturing and other areas suggest that logistics efficiency has a direct effect on exports. This study suggests that Korean agricultural products are directly effective in exporting to new southern countries in terms of logistics efficiency. This can be an important time point in recognizing that logistics capabilities are important to ensure new books and the safety of agricultural products.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.3
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• pp.19-29
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• 2018

This research examined the alternatives of Jensen's alpha (α) estimation models in the Capital Asset Pricing Model, discussed by Treynor (1961), Sharpe (1964), and Lintner (1965), using the robust maximum likelihood type m-estimator (MM estimator) and Bayes estimator with conjugate prior. According to finance literature and practices, alpha has often been estimated using ordinary least square (OLS) regression method and monthly return data set. A sample of 50 securities is randomly selected from the list of the S&P 500 index. Their daily and monthly returns were collected over a period of the last five years. This research showed that the robust MM estimator performed well better than the OLS and Bayes estimators in terms of efficiency. The Bayes estimator did not perform better than the OLS estimator as expected. Interestingly, we also found that daily return data set would give more accurate alpha estimation than monthly return data set in all three MM, OLS, and Bayes estimators. We also proposed an alternative market efficiency test with the hypothesis testing Ho: α = 0 and was able to prove the S&P 500 index is efficient, but not perfect. More important, those findings above are checked with and validated by Jackknife resampling results.

• Industry Promotion Research
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• v.5 no.4
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• pp.15-28
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• 2020

In this study, the methodology for measuring the structure of the Korean defense market and the competition status, and the characteristics of the Korean defense industry and the market are examined. To analyze the structure of the Korean defense market and the competition status, the market share, concentration ratio, and the Herfindal-Hirschman index are employed based on the annual sales of major Korean defense companies. On a basis of the result of the analysis, the suggestions for the Korean defense market to escape from the monopolistic market to be a competitive geographical market are presented. To present the suggestions, markets that have a similarity with the dense market are analyzed. The government's support policy, the selection of the companies led by the government, and the cost of the military are suggested for the defense market on a basis of analyzing similar markets. With the suggestions, when the government pursues the policies, the defense market sticking to principles and fairness is created and the efficiency of the companies operation is achieved, by enhancing the structure of the market fundamentally and the development of the policies in the industry's perspective.

• Journal of Korean Academy of Nursing Administration
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• v.6 no.1
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• pp.147-159
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• 2000

This paper studied the factors that influence on RN staffing level in the 43 Specialized general hospitals. Market structure was analysed using the monopsony model. The degree of competition was estimated by Herfindal Index and market was defined as Great medical zone. As the result of the estimation, in the more competitive hospital market hospitals employed the higher level of RN staffing, so monopsony model was supported. Hospitals with above 1001bed employed more RN than hospitals with below 700bed did. Hospital type, hospital union and the number of medical doctor did not affect the level of RN staffing. There was positive correlation between the level of RN staffing and the number of nurse's aid. The structure of RN market in Specified general hospitals was proved monopsony market, it seems that government regulation will be needed to improve social efficiency and equity.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.876-882
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• 2009

With overall opening of global construction market by World Trade Organization (WTO) agreements, importance of management efficiency of construction industry which considers both tangible and intangible assets is recently being recognized in our nation. That is, efforts for reinforcement of competitiveness must be placed through maximization of values of internal and external intangible assets of construction industry such as management innovation, information, investment in technology and R&D and intellectual property. Accordingly in this study, evaluation criteria for intangible assets of construction industry were investigated and classified. Using such criteria, evaluation index and model were established based on the degree of importance of each criterion. The purpose of this study is to review importance of intangible assets in terms of competitiveness and management efficiency of construction industry and to provide basic data for establishment of intangible assets and revitalization of investment.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.185-195
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• 2020

This study examines the association between governance quality at country level and stock market performance. Specifically, the study investigates the influence of control of corruption, government effectiveness, political stability and absence of violence, rule of law, regulatory quality, and voice and accountability on all-share index of the stock markets of the six Gulf Cooperation Council (GCC) countries. This study is anchored on two theories - the Efficient Market Hypothesis (EMH) and Institutional Theory. The study employs panel data spanning from 2006 to 2017. The findings show that political stability and absence of violence and rule of law exhibit a significant positive impact on stock market performance, while regulatory quality and voice and accountability have a significant, but negative relationship with stock market performance. The results imply that quality of governance in terms of rule of law and political stability devoid of violence have strong impact on stock market returns. Similarly, improved stock market returns are largely dependent on the efficiency of the institutional environment of market as investors are always wary of the inherent risks associated with the uncertainty of the market. This study has crucial policy implications for the government of the GCC countries and stock market participants.

• Journal of Environmental Science International
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• v.13 no.4
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• pp.349-357
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• 2004

Emergy is a measure of the processes required to produce something expressed in units of the same energy form. Emergy based indices can provide insights into the thermodynamic efficiency of the process, the quality of its output, and the interaction between the process and its surrounding environment. However, in an industrial system, the inputs are mostly nonrenewable, renewable energy source is nearly zero, ultimate purpose is pursuit of profits in economic activity. In study, we present two indices based on emergy - EEE(Ecological Economic Efficiency) and ERI(Environmental Responsibility Index). The EEE is taken into account real value of product in market economy. The ERI is shown to be a function of the net yield of the economy, its ‘load’ on the environment and ecological economic efficiency. Manufacturing industry of Korea produced the 30% of total GDP in 2001. We applied these indices to manufacturing industry for environmental management and further sustainable industry. As a results, the highest ERI is 0.34 in recycling industries, the lowest ERI is 0.01 in coke, refined petroleum products which is dominated by ELR. The higher ERI, the more friendly to environment. The suggested indices help us understand relative contributions of various alternatives in company's production and consumption activity, and provide a tool of decision-making for the rearrangement of future industries. Furthermore, they contribute to environmental friendly operation and consumption.

• Journal of Distribution Science
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• v.14 no.3
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• pp.73-83
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• 2016

Purpose - The parcel delivery service(courier) industry all over the world has been expanding its market so far, but its growth has been declining in recent years. In this situation, most parcel delivery companies are having trouble with managing themselves because of the pressure from the customer to increase service level and decrease the rate. The purpose of this study is to provide ways to improve competitive advantages of the parcel delivery service industry by evaluating the multi-period operating efficiency of Korea, Japan and global service providers. Research design, data, and methodology - The data for the period of 2011 to 2014 were collected from the annual reports published by parcel delivery companies. In this study, we analyze the marketability (revenue), profitability (operating profits), and management conditions (net profits) of parcel service companies by combining information on human resources (number of employees) and material resources (total assets and equity). Therefore, the number of employees, total assets, and equity are selected as input variables, and revenue, operating profits, and net profits as the output variables. In this study, DEA (Data Envelopment Analysis) is used to measure the comparative efficiency and MPI (Malmquist Productivity Index) is used to analyze the trend of change of the efficiency for a multi-year period. Results - The operational efficiency scores of medium-sized parcel delivery companies in Korea are higher than other larger competitors such as Korean, Japan and Global larger companies. As of 2014, Logen(1.878) was found to be the most efficient parcel delivery enterprise, followed by KGB (1.224), and Kyoungdong(1.002). Otherwise, Hanjin(0.235), CJ(0.262), Hyundai Logistics(0.657), DHL(0.611), UPS(0.766), FedEx(0.498), TNT(0.350), Yamato(0.762) and Sagawa(0.520), larger sized companies, were done inefficiently. The productivity of parcel delivery companies is influenced by endogenous factors as well as exogenous ones such as changes in business environment and technological advances. Conclusions - Korean medium-sized companies have relatively high efficiency scores in operation. That is why they still survive the competitive market in Korea where market restructuring on the industry has been expected to be conducted for many years. The reason why medium-sized couriers had higher efficient scores than larger couriers is that most of couriers spend more operating expenses versus unit price of delivery which is the amount of money that is needed in order to send a package by parcel service. So the delivery unit price must be taken into account by all the expenses associated with the cost of fuel, labor and maintenance expenses for facilities, etc. therefore, the unit price must be increased to strengthen business competitive power. In order for the industry to have more competitive advantage, the companies need to make profits by increasing demand volume and raising the delivery rate to provide high-quality delivery service to customers. And both endogenous and exogenous change must take precedence in order to strengthen their competitiveness.