• 유통과학연구
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• 제11권4호
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• pp.23-35
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• 2013

Purpose - This paper attempts to identify the problems and limitations of a market maintenance project conducted according to the 「Special Act for the Development of Traditional Markets and Shopping Street」 and to present a revised direction for the special law and lay the groundwork for market maintenance projects to be promoted smoothly. Research design, data, and methodology - The revised direction for the legislation and the proposal were written based on an investigation of the problems and the legal system, and proposed measures for market maintenance operation and system improvements to derive the improvements needed for market maintenance projects. Results - A market maintenance project has been conducted as a means to reinvigorate traditional markets that are economically depressed, and to revive the local economy. It was largely conducted in the form of reconstruction and redevelopment and represents the interests of landowners and merchants. Thus, it is most likely to contribute to the gradual disappearance of traditional markets. First, as part of a market maintenance project, many companies are building multipurpose buildings or high-rise residential buildings to increase profits. In these high-rise buildings, they can raise rents, which may not be affordable for some existing small businesses. To solve such problems, the large-scale store registration requirement needs to be relaxed or abolished once the market maintenance project is completed. If the large-scale store registration requirement is to be abolished, the term 'large retail store' should be changed in the 「Special Act for the Development of Traditional Markets and Shopping Street」. After registration, the Small and Medium Business Administration should train merchants, offer consultations, and support events, to the extent that the existing traditional market management modernization project permits, and further continue to manage and support its ongoing activities. However, unless large-scale store registration is abolished, adding an exception clause in the special law to relax large-scale store registration criteria, and permitting changes to building use is another option. At the end of a market maintenance project, empty stores should be purchased by the Small and Medium Business Administration, and local government, etc., at the actual construction cost, to utilize them as public rental shopping areas, which in turn may be re-utilized as a temporary market for another market maintenance project. The second problem in market maintenance projects is merchant-protection. Currently, the special law prescribes that a temporary market be created for merchants to conduct business during the rental period of a market maintenance project. Conclusions - In reality, a market maintenance project is conducted usually in big metropolitan cities with 500,000 residents or more. The main building type created under these projects is a multipurpose building. For this reason, it is very difficult to secure a location for a temporary market in the surrounding area of such a project. To solve this problem, this study suggests 'public rental shopping areas' as mentioned above.

• 재무관리연구
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• 제20권1호
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• pp.305-329
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• 2003

본 연구는 1987년 1월 5일부터 2001년 12월 28일까지의 일별 및 월별 자료를 가지고 미국 달러화와 일본 엔화가 기업의 주식수익률에 미치는 영향 및 비대칭성을 분석하였다. 일별 자료에 대해서는 오차항의 이분산을 고려해 자기회귀와 GARCH 계열 모형을 사용하였으며, 월별 자료에 대해서는 자기회귀모형을 사용했다. 전체기간 및 하위기간에 대한 분석결과는 일별 자료가 월별 자료에 비해 환노출을 발견하는 데 보다 탁월하다는 것을 보여주고 있다. 또한 EGARCH(1, 1)와 GJR-GARCH(1, 1)로 일별 자료를 분석하는 것이 보다 높은 설명력을 갖는 것으로 나타났다. 한편, 노출된 기업의 대부분에서 음의 환노출이 발견되고 있다. 이는 우리나라 기업의 주식수익률은 환율인상에 대해서는 부정적 영향을, 환율인하에 대해서는 긍정적 영향을 받는 것으로 해석할 수 있다. 비대칭성에 대한 분석 결과는 우리나라 기업은 대부분 비대칭적 환노출에 직면하고 있으며, 실물옵션이론보다는 시장중시가격이론이 보다 설득력이 있다는 결론을 제시해주고 있다. 또한 월별 자료가 일별 자료에 비해 비대칭 분석을 정확히 할 수 있는 것도 발견되었다.

• 노동경제논집
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• 제41권3호
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• pp.95-128
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• 2018

본 연구는 우리나라 기혼여성들의 시간제, 전일제 등 근로형태가 오래 지속되는지 아니면 근로형태간 이동이 활발한지를 상태의존성(state dependence) 추정을 통하여 살펴보고, 최근의 변화를 분석하였다. 동태적 다항로짓모형(dynamic multinomial logit model) 추정결과 시간제와 전일제 상호간 이동성이 최근 낮아지면서 각 근로형태의 상태의존성은 강화되는 모습을 보였다. 따라서 시간제일자리는 전일제와 미취업 사이에서 근로형태간 이동을 활발하게 하는 디딤돌 또는 쉼터의 역할이 약화되고 전일제 외에 노동시장 참여 옵션을 제공하는, 전일제와는 구분된 추가적 일자리형태로 기능하고 있는 것으로 판단된다.

• 신재생에너지
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• 제7권2호
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• pp.18-27
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• 2011

Management flexibility to adapt its future actions in response to altered future market conditions can expand the value of an investment opportunity by improving its upside potential without the change in the downside losses. Module manufacturers in solar industry continuously have to decide how much and when its production capacity should be expanded with regards to the demand in the global markets. Either over- or under-investment can cause sunk and/or opportunity costs to the module manufacturers. Option of exercising the additional investments only on favorable opportunities can increase total value of the investment. This paper analyzes the case which shows that the expansion of production capacity with more expandibility can have more value than the rigid plan of capacity expansion. The expansion option value is equivalent to KRW 38.286 billion, thus switching the negative NPV of the initial investment opportunity into the positive value. High volatility and the high growth in the cashflows as the major business features of the renewable energy provide condition where real options can play the crucial role in increasing the investment value as well as in determining the size and timing of capacity expansion in the course of capital budgeting process.

• 경영과학
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• 제31권2호
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• pp.71-86
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• 2014

There is a growing need for technology transactions between the technology providers, who develop technologies, and the technology consumers, who purchase and commercialize technologies, to be smooth, when technologies, as intangible assets, are traded as items that can be purchased and sold. In response to these challenges, this study examines new approaches to assessing the fair market value of technologies. Because corporations are the main force behind technology development and commercialization in the existing business environment, applying one valuation method to technology assets is viable; however, as the subjects of technology development and technology commercialization are separate, the need for price negotiations between the subjects of technology transaction has grown. Moreover, as the investigations into and the application of transaction prices have been performed separately by technology providers, technology consumers, and technology assessment financial institutions, the research on technology valuation methods has shown that there are differences in perceived transaction prices between the subjects involved. This research presents a new method, appropriate to technology transactions; unlike existing methods, it grants option values to the technology provider and newly defined key variables to the technology consumer.

• 한국기술혁신학회:학술대회논문집
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• 한국기술혁신학회 2002년도 추계학술대회
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• pp.45-57
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• 2002

Since a new entrant in the telecommunications market requires time in order to construct its own network, a requirement on the incumbent operator to implement carrier selection and pre-selection can enable a new entrant to immediately attract customers and earn revenue. Carrier selection can normally be accomplished in two ways, on a call-by-call basis or through carrel pre-selection. Call-by-call selection allows customers to choose a new entrant rather than the incumbent carrier using a specific code designated to the new carrier each time a call is made. Carrier Pre-Selection, on the other hand, allows customers directly connect to the network of one provider to have access automatically to another company's services when they pick up the phone to make certain types of calls. The carrier pre-selection option is generally considered to be a second regulatory step following the implementation of the call-by-call carrier selection option. Carrier pre-selection with the ability to override on a call-by-call basis for long distance, international, local, and fixed-to-mobile calls has now been implemented in many EU countries. This paper attempts to identify the issues in introducing CPS and to draw policy implications from other countries' experiences.

• 자원ㆍ환경경제연구
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• 제21권2호
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• pp.301-319
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• 2012

2012년부터 RPS 제도가 시행됨에 따라 신재생에너지 분야에서의 투자가 활발히 이루어질 것으로 예상된다. 신재생에너지를 통한 기업의 온실가스 감축투자는 장기적으로 기술진보와 국내 전력가격에도 영향을 미치는 중요한 요소이다. 한편, 국내에 온실가스 감축정책 수단으로 배출권거래제가 논의 중인 바, 유사한 성격의 두 제도가 기업의 환경투자 의사결정에 미치는 영향을 분석하도록 한다. 투자의 비가역성과 배출권 및 REC 가격의 불확실성을 고려하는 실물옵션 모형을 이용하여, 게이트웨이의 설정을 통한 배출권과 REC의 호환성이 보장될 때에 투자 인센티브를 분석하였다. 환경투자를 통해 온실가스 감축이 충분히 클 경우에는 투자에 대한 게이트웨이의 긍정적인 효과가 확인되는 것으로 나타났다. 신재생에너지 투자효과에 대한 보다 엄밀한 분석을 위하여 향후 발전사 데이터의 구축을 통해 실증분석이 추가로 이루어져야 할 것이다.

• 한국콘텐츠학회논문지
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• 제3권2호
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• pp.73-77
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• 2003

번호이동성(Number Portability)은 이용자의 편익증진과 경쟁활성화를 위한 통신정책의 한 대안으로, 우리나라도 시내전화 및 착신과금서비스는 2003년 상반기부터 비지능망방식인 RCF로, 2G 이동전화의 경우는 2004년부터 지능망방식인 QoR로 시행할 예정이다. 번호이동성을 구현하기 위해서 통신사업자들은 기존의 통신망에 상당부분을 수정하여야 하고 네트워크 특성에 적합한 방식으로 구현하는 것이 중요하다. 본 논문에서는 우리나라에 도입되는 기술구현방식의 장단점을 비교하교 이미 번호이동성을 도입한 외국의 사례를 살펴봄으로써 번호이동성 구현을 위한 합리적인 기술선택방안을 도출하고자 한다.

• 한국건설관리학회논문집
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• 제11권6호
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• pp.54-64
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• 2010

기업은 이익창출을 위해 자본과 비용을 투입하고 재무적 타당성을 분석하여 투자의 가부를 결정한다. 일반적으로 실물자산의 투자가 창출하는 현금흐름은 투자분석시의 결과와는 달리 불확실하게 변화하고 실물자산이 내포한 여러 경영상의 유연성이 유발하는 비대칭수익구조도 사업의 가치에 영향을 미친다. 실물자산의 투자가 수반하는 다양한 경영상의 유연성들 중, 경영진이 특정 기간 동안 투자를 지연할 수 있는 투자지연의 의사결정은 시장에서 새로운 정보가 유입되면 합리적인 대응을 가능케하여 사업의 가치를 증가시키는 것으로 알려져 왔으나 투자시기의 결정에 관한 연구는 부족해왔다. 그러므로 본 연구는 투자지연이 유효한 실물자산의 투자에서 합리적인 투자시기의 결정을 위해 투자지연에 의한 사업가치의 증분과 손실회복비용을 옵션 가격결정 및 관련 금융 경제이론에 기반하여 추정하고 이를 수학적 변분원리를 이용하여 최적의 투자시기 탐색을 위한 이론 모델을 구성 한 후 부동산 실물자산인 REITs(Real Estate Investment Trusts)의 사례에 적용 및 분석함으로써 실물자산의 투자시기 결정을 위한 이론적인 틀을 제시하고자 한다.

• 한국중재학회지:중재연구
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• 제18권1호
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• pp.49-69
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• 2008

This study is to analyze the case law on the disputes of the ex-im contract of steel bar from Yugoslav to Egypt, for which awards were made by the ICC Arbitration Court, trying to find out the characteristic approach of the tribunal toward arbitration case dealing with socialistic country, Yugoslav and Islamic Egypt. An Egyptian importer and an Yugoslavian Exporter concluded a contract, with an option to purchase an additional quantity. for the steel bar. The importer exercised this option as provided in the contract. But the exporter refused to honor the option, due to the fact that the world market price for the steel bar has gone up. As a result, the importer had to purchase the steel bar as a replacement from a Rumanian company at the price higher than the original contract. And it has initiated arbitration under the arbitration clause at the ICC Arbitration Court to claim compensation for the loss due to the price difference. CISG and ULIS were closely studied along with the Yugoslav Law to determine whether the exporter could be exempted from the liability to damages. But the tribunal denied to accept the exporter's contention. The tribunal decided that the importer was entitled to damages due to the exporter's failure to deliver the additional quantity of goods at the original price. It was due to the fact that the price increase was not extremely sudden & high enough to exceed a reasonable entrepreneurial risk and also could be taken into account when concluding the contract.