• Journal of Energy Engineering
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• v.18 no.3
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• pp.175-190
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• 2009

This study examines the influence of scale economy, technology, financing capability and market competition on economic performance by value chain in Korean solar energy companies, using the multiple logistic regression analysis. The current profit ratio is analyzed to have been positively affected by financing capability, while negatively by market competition. The scale economy and technology are analyzed to have no statistical significance on the economic performance. The current profit ratio for companies creating higher value in the sourcing process is negatively affected by technology while positively by financial capability. The one in the manufacturing process is affected positively by technology and financing capability, and the one in the marketing process is affected positively by financing capability while negatively by market competition. The implications of this study are as follows: Korean solar energy industry is recommended i) to establish the specific innovation system for technology development, ii) to set up advanced financial system, iii) to carry out the fractal system, the manufacturing system through the network of the firms owning core competence per value chain.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.442-445
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• 2003

The purpose of this study is to present an improved lift-up & procurement work flow for effectiveness of resources increase in building construction. The current lift-up & procurement work flow has some waste factors; complicated information system, connection lack with process and decision-making delay. Therefore the study applied the value stream mapping methodology for improvement of current lift-up & procurement work flow. The main contents of the study are as follows; 1) A problem of current work flow were analyzed through current state mapping(CSM). 2) An improved work flow was suggested through future state mapping(FSM). 3) An improvement effect analysis of information system and lift-up planning The study recommends that continuous improvement of lift-up & procurement work flow and efficient management of information in building construction.

• Korean Journal of Construction Engineering and Management
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• v.5 no.1 s.17
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• pp.133-139
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• 2004

The purpose of this study is to present an improved lift-up &procurement work flow for effective resource utilization in building construction. The current lift-up &procurement work flow has some waste factors; complicated information system, connection lack with process and decision-making delay. Therefore the study applied the value stream mapping methodology for improvement of current lift-up &procurement work flow. The main contents of the study are as follows; 1) Problems of current work flow were analyzed through current state mapping(CSM). 2) An improved work flow was suggested through future state mapping(FSM). 3) An improvement effect analysis of information system and lift-up planning was investigated. The study recommends continuous improvement of lift-up &procurement work flow and efficient management of information in building construction as a future research.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.8
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• pp.5260-5266
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• 2015

To develop weapon system, Concurrent Spare Parts(CSP) is one of the important somethings in terms of Intergrated Logistics System(ILS). CSP is very important to improve the availability of weapon system, and various research about CSP are performed. However, most of the research does not consider the effects between sub-item's failure and weapon system's multiple function. In other words, if sub-item's failure does not seriously influence weapon system's specific function, the point, not necessarily to replace sub-item, is not considered. Therefore, the method to calculate CSP based on above consideration is written by failure-function matrix in this paper. The study follows the procedure below. First, it's to define the operation and maintenance procedure of weapon system. Second, failure-function matrix is developed. Third, simulation model is desinged by input data. Finally, The quantity of CSP is calculated by simulation and evolution strategy, meta-model. This study suggests new research direction to calculate CSP.

• Journal of Digital Convergence
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• v.18 no.7
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• pp.135-148
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• 2020

Even after successful technology development, there are many cases where commercialization fails due to difficulties in financing in the early stages of commercialization. The purpose of this study is to give practical implications to technology-based founders. At the beginning of commercialization, 7 companies that succeeded in procuring different types of external funds were selected to conduct case analysis. The results are as follow. First, it was confirmed that the excellence of technology is the most important. Second, it was confirmed that they were majors in the relevant technology field or have worked in related fields, and concluded that greater synergy effect can be created by adding the founder's business will and active attitude. Third, even if the company's internal capabilities were insufficient, it was possible to succeed in financing by identifying and utilizing external financial information. Fourth, it is necessary to utilize a linked financial system that receives both loans and investments. Fifth, systematic IR (Investor Relation) should be continued.

• The Korean Journal of Financial Management
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• v.23 no.2
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• pp.109-141
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• 2006

The central factor in the pecking order theory of financial structure is the asymmetric distribution of information between managers and less-informed outside investors. Myers and Majluf (1984) show that this asymmetry leads managers to prefer internal funds to external funds. Funds are raised through equity issues only after the capacity to issue debt has been exhausted. In contrast, according to static tradeoff theory, an optimum financial structure exists by the tradeoff between tax saving by debt and bankruptcy costs. This study examines the recent changes of Korean firms' financial structure and financing behavior and the determinants of financial structure. The sample of firms comes from the period of $1996{\sim}2004$, and the number of firms is 32,003. The major findings are as follows. First, in contrast with previous studies using US firms as sample, Korean firms have been using debt financing as their major financing instrument. Especially, the firms in the fund deficit situation relies much more on $long{\sim}term$ and $short{\sim}term$ debts rather than on equity issues. Second, as is the case with previous studies using US firms sample indicates, the financing deficit variable can not explain perfectly the net debt issue. However, compared with net equity issue variable, net debt issue variable is more closely related to the financing deficit variable. Third, when financing deficit variable is added to the current list of explanatory variables of financial structure determinants model, it has a significant and positive explanatory power. In addition, the coefficients of determinants are much improved. Thus, it is concluded that although pecking order theory is not perfect, it appears to be more useful compared to static tradeoff theory, at least in explaining the recent financing behavior of Korean manufacturing firms.

• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.33-68
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• 2008

The purpose of this paper is to test the market timing hypothesis and impact of macro economic variables on capital structure choice as well as the traditional static trade-off and pecking order theories of capital structure in a integrated framework. Through a two stage test of target capital structure and capital structure choice, none of theories was consistently supported, but most of them were partly supported. In the first stage analysis of target ratio, coefficients of firm-specific variables generally supported the predictions of pecking order theory rather than those of the static trade-off theory. However, the result of the second stage test on capital structure choice supported the hypothesis of the static trade-off theory, which claims that firms usually set and pursue the target leverage ratio. Further, the result of the seconde stage shows that a simple pecking oder theory does not hold because firms with deficit of internal fund tend to issue bonds rather than stocks to raise outside fund. Also, the result indicates that the market timing hypothesis holds because firms with over-valued stocks tend to issue stocks rather than bonds. However, contrary to Korajczyk and Levy(2003), the impact of macro economic variables such as term or credit spreads on capital structure choice was negligible, and the impact of macro economic and market timing hypothesis variables were not greater in financially unconstrained firms as Korajczyk and Levy(2003) suggested.

• Journal of Convergence for Information Technology
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• v.10 no.11
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• pp.324-331
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• 2020

This study used the financial information of 29 Regional public hospitals registered in the HASPA. Regional public hospitals analyzed the ratio of operating financing by management activities and how they affect net profit. The results of the study, Regional Public Hospitals ratio of fund financing for management activities was 83.50 percent for medical revenues, 9.53 percent for Incidental Revenue of Medical, 4.54 percent for Contribution Revenue, 4.42 percent for Other non-medical profits, 1.21 percent for depreciation Expense and 0.73 percent for Amount of reserve for unique purpose project. As a result of examining the effect of financing by management operation on net profit, the ratio of operating funds by medical revenue, by incidental revenue of medical, by contribution revenue and by other non-medical profits had a positive impact on net profit of Regional public hospitals. And It has been confirmed that the ratio of amount of reserve for unique purpose project has a negative impact on net profit. Therefore, it is necessary for Regional public hospitals to manage costs in consideration of revenues and internal reserves.

• Defense and Technology
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• no.11 s.249
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• pp.34-47
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• 1999

군수자원의 효율성을 제고하기 위해서는 한정된 군수예산을 사용하여 양질의 군수품을, 적정량을 적기에 경제적으로 조달하여야 하고 그 다음으로는 조달된 군수품의 효율적인 보급관리와 함께 관리회계등 국방자원관리제도와의 유기적인 상호 연계가 전제되어야 한다. 이 글에서는 군수관리상의 제반 문제를 인식하고 이를 해소하여 군수관리의 장기적인 발전을 가져올 수 있는 정책적인 대안으로 군수분야에 회전기금을 설치하는 방안을 구체적으로 제시하였다.

• 월간 기계설비
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• s.319
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• pp.54-54
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• 2017

조달청은 중소건설업체의 입찰부담을 완화하고 입찰 경쟁성을 높이기 위해 집행기준을 개정하고 1월 16일 시행에 들어갔다. 개정된 시설공사 집행기준은 적격심사 경영상태 평가기준 완화, 기술개발투자비율 평기기준 완화 등을 담고 있다.