• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.2
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• pp.25-36
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• 2010

The generally known important functions of forests include air purification and the health benefits that humans can receive when relaxing and enjoying recreation in the forests. In recent years, people have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural environment has. Because environmental property is public property, which is not traded on the market, market prices cannot be established, so it is not easy to assess the currency value. Methods for estimating environmental property value have been studied by economists. The representative method for measuring environmental property value is a contingent valuation method, or CVM. Various methods have been researched and attempted along with the development and fusion of mathematics, statistics, and economics. Representative methods of CVM are single-bound and double-bound logit and probit methods. This study has been carried out to compare four estimates. Estimates are as follows: the lowest estimate is derived from a single-bound logit WTPmedian while the highest estimate is from double-bound probit WTPmean. While there are some preceding studies on price estimation and methods of measurement through CVM, they offer only partial comparisons. This study suggests four analytic methods and prices through 1,123 questionnaires. The results can be used for the subsequent comparison of estimate prices and the methods of measurement

• Journal of Energy Engineering
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• v.24 no.3
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• pp.67-73
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• 2015

Almost base-loaded power plants such as flaming coal and nuclear energy require large-scale transmission facilities (LTFs) in order to send electricity to remote consumption areas. As well known, LTFs incur various social costs. However, a decentralized generation source such as integrated energy business (IEB)-based combined heat and power (CHP) plant is located in nearby electricity-consuming area, and thus it does not demand LTFs, providing the benefits from avoiding the damages caused by them. This study attempts to measure the benefits of avoiding the damages from the LTFs by the use of the contingent valuation (CV) method. To this end, a national survey of randomly chosen 1,000 households was implemented and the public's willingness to pay (WTP) for substituting consumption of electricity generated from flaming coal-fired power plant, currently a dominant generation source in Korea, with that produced from IEB-based CHP plant. The results show that the WTP for the substitution is estimated to be about 41.4 won per kWh. Considering that this value amounts to 33% of the average price of residential electricity in 2014, the external benefit of the IEB-based CHP as a decentralized generation appears to be large.

• Journal of Environmental Policy
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• v.13 no.4
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• pp.3-49
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• 2014

Growing interest of stakeholders on corporate responsibilities for environment and tightening environmental regulations are highlighting the importance of environmental management more than ever. However, companies' awareness of the importance of environment is still falling behind, and related academic works have not shown consistent conclusions on the relationship between environmental performance and economic performance. One of the reasons is different ways of measuring these two performances. The evaluation scope of economic performance is relatively narrow and the performance can be measured by a unified unit such as price, while the scope of environmental performance is diverse and a wide range of units are used for measuring environmental performances instead of using a single unified unit. Therefore, the results of works can be different depending on the performance indicators selected. In order to resolve this problem, generalized and standardized performance indicators should be developed. In particular, the performance indicators should be able to cover the concepts of both environmental and economic performances because the recent idea of environmental management has expanded to encompass the concept of sustainability. Another reason is that most of the current researches tend to focus on the motive of environmental investments and environmental performance, and do not offer a guideline for an effective implementation strategy for environmental management. For example, a process improvement strategy or a market discrimination strategy can be deployed through comparing the environment competitiveness among the companies in the same or similar industries, so that a virtuous cyclical relationship between environmental and economic performances can be secured. A novel method for measuring eco-efficiency by utilizing Data Envelopment Analysis (DEA), which is able to combine multiple environmental and economic performances, is proposed in this report. Based on the eco-efficiencies, the environmental competitiveness is analyzed and the optimal combination of inputs and outputs are recommended for improving the eco-efficiencies of inefficient firms. Furthermore, the panel analysis is applied to the causal relationship between eco-efficiency and economic performance, and the pooled regression model is used to investigate the relationship between eco-efficiency and economic performance. The four-year eco-efficiencies between 2010 and 2013 of 23 companies are obtained from the DEA analysis; a comparison of efficiencies among 23 companies is carried out in terms of technical efficiency(TE), pure technical efficiency(PTE) and scale efficiency(SE), and then a set of recommendations for optimal combination of inputs and outputs are suggested for the inefficient companies. Furthermore, the experimental results with the panel analysis have demonstrated the causality from eco-efficiency to economic performance. The results of the pooled regression have shown that eco-efficiency positively affect financial perform ances(ROA and ROS) of the companies, as well as firm values(Tobin Q, stock price, and stock returns). This report proposes a novel approach for generating standardized performance indicators obtained from multiple environmental and economic performances, so that it is able to enhance the generality of relevant researches and provide a deep insight into the sustainability of environmental management. Furthermore, using efficiency indicators obtained from the DEA model, the cause of change in eco-efficiency can be investigated and an effective strategy for environmental management can be suggested. Finally, this report can be a motive for environmental management by providing empirical evidence that environmental investments can improve economic performance.

• Environmental and Resource Economics Review
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• v.18 no.3
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• pp.495-521
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• 2009

This paper measures welfare losses from beef consumption reduction, which might be resulted from psychological anxiety about potential outbreak of BSE (commonly known as "bad cow dieses") risks after announcement of resuming US-beef imports in April of 2008. Unlike the previous literature of utilizing the contingent valuation method or experimental market approach, this study estimated quality-differentiated consumer demand functions using the information of self-reported beef consumption quantity, individually constructed price indices of beef, and subjective perception of BSE risks. The empirical results based on a survey sample of 360 residents in Jeon Ju city were consistent with the anticipation from economic theory, in terms of coefficients of own prices, substitute prices and income variables. The announcement of resuming US-beef imports did not make significant differences in the sign and sizes of the main economic variables. However, the subjective perception variable about BSE risks had negative significant impacts on beef demand functions after the announcement but not significant before the announcement. The welfare losses in a form of equivalent variation (EV) corresponding to the increases in concerns about BSE risks were measured to be about 30 thousand won per household.

• Journal of the Korean Society of Costume
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• v.62 no.4
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• pp.46-57
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• 2012

Consumers currently show cross-channel shopping behavior between the Internet and store-based retail types when searching information and purchasing sensory products such as fashion items to reduce risks. As consumers compare both types of stores before making a purchase decision, the Internet retail type and store-based retail type started conflicting/competing each other as the combined retail evolution theory proposed(Kim & Kincade, 2006). The purpose of this study is to examine consumers' cross-channel shopping behavior between the Internet and store-based retail types and their importance and satisfaction with information provided by the Internet retail stores. This study employs a quantitative research method using a survey. Demographics, types of stores used for purchase, satisfaction with the type of stores, Internet shopping behavior, importance and satisfaction with product information in the Internet retail stores were asked. MANOVA and descriptive statistics were used to test hypotheses. The result shows that a majority of participants(36.2%) shows cross-channel shopping behavior between the two retail types. Also, most participants(72.4%) decide on their purchase and are satisfied only after cross-channel shopping between the two retail types. Participants were grouped based on their information search and purchase behavior. Significant differences among the groups were found in importance and satisfaction with product information provided by the Internet stores. In measuring participants' satisfaction, a majority of participants(42.1%) showed satisfaction with their purchase at store-based retail stores after information search via the internet, followed by the satisfaction with the purchase at the internet retail stores after information search at store-based retail stores(30.3%). Fifty one point nine percent of participants search information via the internet(vs.48% at store-based retail stores), and they especially look for fiber contents and design details with pictures(37.4%). The satisfaction with price information provided by the Internet retail stores is the highest (m=3.70 out of 5.0) among fashion product information followed by design information(m=3.48). On the other hand, size information, refund/exchange and fiber content information received low satisfaction scores(m=2.81, 2.71, 2.57 in turn). This research suggests the Internet retail stores should provide more variety of information in detail using technology and improving customer services. This study could provide the Internet retail stores a guideline to establish a satisfactory information delivery system.

• Journal of Korean Society of Rural Planning
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• v.24 no.2
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• pp.59-67
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• 2018

As high-rise buildings came in, the landscape of rural areas and natural landscapes often got damaged. Therefore, this study aims to prevent this, grasp the extent of the influence of the surrounding landscape, to grasp the range of height that can be permitted and present the direction of landscape management of agriculture and natural landscape. This study tried to grasp the range of height by using price sensitivity analysis method for two apartment and apartment complex which entered DangJin city and SeoSan city. First, in the case of a two apartment, the range of the height allowable section was from the 6th floor to the 11th floor in close range view, and it was a section from the 7th floor to the 12th floor in medium range view. In the case of the apartment complex, the range of the height allowable range was from the 10th floor to the 17th floor in close range view, the 9th floor to the 16th floor in medium range view. The stress index was found to be positive in a two apartment in close range view, and in the apartment complex case. therefore it was better to set it to a lower in the Range of Acceptable Height(RAH). Second, it showed no difference in the sensitivity of landscape to gender. Thirdly, the results of the landscape sensitivity analysis of major and non-major showed the difference in the medium range view picture of the apartment complex. Majors are lower than the point of minimum height(PMinH) than non-Majors. In the case of major, the stress index was 1.4. it turned out that it was better to make a decision closer to point of minimum height (PMinH). In the case of non-major, the stress index was -1.3. it was also able to accept decision close to the point of maximum height (PMaxH). Since the results of the above research gave changes only in the variable of the height of the landscape, we can not grasp the point of interaction with other variables, and future research is considered necessary.

• Journal of the Institute of Convergence Signal Processing
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• v.10 no.3
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• pp.207-213
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• 2009

The quality of tap water on the whole water-supply system, from a large filtration plant to a private faucet, has to be guaranteed the standards of drinking water. At this point in time, however, the supply process of the tap water has not been monitored and managed scientifically. The piped water, especially the most small-scale reservoirs(underground or overhead type) are always exposed to various contaminations and impurities. Recently monitoring systems of water-quality were spread on some large filtration plants or distributing reservoirs. In particular, the water quality monitoring method using the internet is adopted into some local government whose inhabitants can check up the water quality anytime and anywhere. The construction of this system that has to apply a large scale needs, and has a limitation on the small water-supply system, such as apartments, public facilities and small-scale underground or overhead reservoirs. In this work, we suggest the integration system of individual water-quality sensor modules that have a low price. By using the developed integration system and online monitoring program operated on the internet, the system managers of reservoirs can monitor and manage water-quality characteristic values of drinking water in online. Since the proposed system was modularized, the system can be applied easily into various reservoirs with a low cost and regardless of its scale, small or large.

• Korean Journal of Construction Engineering and Management
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• v.13 no.5
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• pp.25-34
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• 2012

It has been five years since the Post-Construction Sale System of Housing was introduced. The purpose of this study is to identify objectives and effects of the Post-Construction Sale System of Housing and analyze change of profitability at different sales time from a supplier's point of view. Apartment buildings construction projects performed in Seoul are used for the case study. The present value of sales revenues, sensitivity and the present value of expected sales prices are analyzed. According to the findings, first, profits made from a Pre-construction sales system was 5.1%~6.2% higher than those from a Post-construction sales system. Among four plans of a Pre-construction sales system (A, B, C and D plan), sales revenue from the A plan, which takes a deposit at the time of starting construction, was the greatest. Second, increase of the rate of discount and decrease of sales revenues are in direct proportion. The bigger rate of discount leads actual reduction of sales revenues. Third, for the present value of sales revenues reflecting change in basic model construction cost, a Pre-construction sales system showed a little higher than that of a Post-construction sales system by approximately 2%. It should be known that this study suggests profitability of Pre-and Post-construction sales system by clearly measuring them in the supplier's point of view and calculates sales revenues, considering change of a sale price following change of sales time.

• The Korean Journal of Financial Management
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• v.7 no.1
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• pp.1-20
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• 1990

In most of studies on market efficiency, the stability of risk measures and the normality of residuals unexplained by the pricing model are presumed. This paper re-examines stock splits, taking the possible violation of two assumptions into accounts. The results does not change the previous studies. But, the size of excess returns during the 2-week period before announcements decreases by 43%. The results also support that betas change around announcements and the serial autocorrelation of residuals is caused by events. Based on the results, the existing excess returns are most likely explained as a compensation to old shareholders for unwanted risk increases in their portfolio, or by uses of incorrect betas in testing models. In addition, the model suggested in the paper provides a measure for the speed of adjustment of the market to the new information arrival and the intensity of information contents.

• Korean Journal of Construction Engineering and Management
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• v.25 no.3
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• pp.37-46
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• 2024

Recently, 3D laser scanning technology, which can collect accurate and quick information on phenomena, has been attracting attention among smart construction technologies. 3D laser scanning technology can obtain information most similar to reality at construction sites. In this study, we would like to apply a new member identification method to an actual building and present the possibility of applying point cloud data, which can be collected using 3D laser scanning technology, to measuring progress at construction sites. In order to carry out the research, we collected location information for component identification from BIM, set a recognition margin for the collected location information, and proceeded to identify the components that make up the building from point cloud data. Research results We confirmed that the columns, beams, walls, and slabs that make up a building can be identified from point cloud data. The identification results can be used to confirm all the parts that have been completed in the actual building, and can be used in conjunction with the unit price of each part in the project BOQ for prefabricated calculations. In addition, the point cloud data obtained through research can be used as accurate data for quality control monitoring of construction sites and building maintenance management. The research results can contribute to improving the timeliness and accuracy of construction information used in future project applications.