• Journal of Digital Convergence
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• v.13 no.8
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• pp.101-112
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• 2015

The company's technical reserves in accordance with the internal skills and external technology commercialization capacity and to analyze the impact on the performance of technology commercialization and financial performance of the company. External technology funding, internal and external technologies marketing, internal and external technologies production, outside of the external Technology Commercialization technique was investigated to affect the financial performance. Financing, marketing capability, and the production base is completely mediated effect acting from within the technology business technical achievement, but funding and the regulation of full-mediated effects on the financial performance in the external action, technical marketing skills and capacity of external technology in part mediated effect was investigated by the effect on financial performance.

• The Korean Journal of Financial Management
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• v.8 no.1
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• pp.155-177
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• 1991

기업의 재무구조와 인플레이션과의 관계는 세율에 대한 다양한 형태의 가정을 통하여 연구, 분석되어 왔으나, 이 문제를 확실히 해결하지는 못하였다. 근자에 A. Marcus(1983)가 미국의 은행의 재무구조를 대상으로 한 시계열분석 결과에 의하면 명목이자율의 상승이 미국은행의 부채 대비 자본금 비율을 하락시키는 절대적 요인이 되었다고 한다. 본 연구의 목적은 인플레이션과 은행의 부채 대비 자본금 비율의 상관관계, 더욱 나아가서 은행자산의 위험도가 이 상관관계에 미치는 영향을 분석코자 한다. 본고는 은행규제기관(FDIC 등)의 부채비율과 은행자산(포트폴리오)의 위험도에 대한 규제하에서 은행이 부채(예금)와 자본금의 가치를 극대화하고자 하는 모델을 설정하여 기대 인플레이션 수준이 은행의 적정 자본비율과 자산의 위험도와 어떤 관계가 있는가를 밀러의 균형모델(Miller Equilibrium Model)을 원용하여 분석하였다. 밀러의 균형모델하에서는 기업의 재무구조는 기업가치와 무관한 것으로 나타나고 있다. 즉, 부채를 통한 자금조달에 의해 발생되는 한계세금혜택은 균형하에서는 사라진다는 이론이다. 따라서 인플레이션은 적정 재무구조에는 영향을 미치지 못하게 된다. 왜냐하면 인플레이션은 기업의 세후 부채조달비용과 회사채 투자자 수익에 동일한 영향을 미치기 때문이다. 그러나 은행의 경우 일반 기업과는 달리 은행규제기관의 부채비율 및 자산위험도에 대한 규제압력이 소위 암묵적 규제비용으로 작용하여 은행의 적정자본금비율은 부채(예금)를 통한 자금조달의 한계세금혜택과 이에 따른 한계규제바용이 동일하게 되는 경우에 결정된다. 밀러의 단순균형 모델하에서 한계세금혜택이 없는 것과는 달리 은행의 부채조달에 따른 한계규제비용이 존재하는 이유로 균형조건으로 한계세금이익이 존재하게 된다. 이 경우 인플레이션은 예금자의 실질 세후 예금이자를 상승시키는 것 이상으로 은행의 실질 세후 예금이자 지급비용을 하락시키게 되어 은행의 부채비율을 더욱 높이게 되는 원인이 된다. 또한 은행의 부채비율이 인플레이션과 정(正)의 관계에 있다면 은행규제의 강도에 따라 이 상관계수는 은행자산의 위험도와도 역시 정(正)의 관계에 있게 된다. 미국은행을 대상으로 한 회귀분석에서도 그들의 부채(예금)비율이 기대 인플레이션과 정(正)의 상관관계가 있음이 나타났고 그 상관계수는 은행자산의 위험도와 동일 방향으로 움직임이 판명되었다.

• Convergence Security Journal
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• v.13 no.5
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• pp.27-35
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• 2013

There has been a adverse balance between Korea and U.S. in defense trade. This paper investigates the current status of the defense trade imbalance in terms of numerical values, and also analyzes the institutionalized barriers to Korea defense exporters imposed by laws and regulations. It is found that the amount of Korea defense import is several tenfold that of the export to U.S. in 2011. The barriers are analyzed to be the american laws and regulations. The buy american act is applied to the U.S government procurements and the Berry amendment is applied to the defense procurements. These two laws has been implemented by the defense federal acquisition regulation which allows U.S. Dept. of Defense to buy only american products. To overcome the barriers, Korea ought to sign a defense MOU with U.S., so that the buy american act and the Berry amendment can be waived.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.601-605
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• 2008

In the current Public-Private Partnership, Applying Ex-post management is rising after the completion of construction. So, Advanced countries of construction are getting additional profit from Re-financing while repairing system about Re-financing. But within the our country positive introduction is difficult because of insufficient of social sympathy about Re-financing, shortage of support from government and imperfection of detail regulation. So this study analyzes the cases of Ex-post management Which are applied to Public-Private Partnership that is adopted by project financing in domestic and overseas field and considers plans which can apply more efficiently in Public-Private Partnership. We anticipate that the results of this study can be utilized for materials that can help people who want to understand hereafter introduction of Ex-post management in domestic Public-Private Partnership and expect that the materials can be used for data developing system of Ex-post management.

• Land and Housing Review
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• v.6 no.4
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• pp.185-193
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• 2015

Since the introduction of New Towns in Seoul MSA, land price has steadilly been risen due to the financial burden of constructing metropolitan transportation facilities. Despite metropolitan transportation facilities are utilized by New Towns as well as its surrounding area, the current situation is that most of the burdens, which is supposed to be shared with local governments, fall to developers. This study, with the case of Dongtan New Town, is to deduce rational structure of cost-sharing by the analysis of travel demands of metropolitan transportation facilities. Also, for the financing of the cost, the application methods of TIF(Tax Incremental Financing) have been suggested. The results showed that the proportion of travel which origins from New Town was 35.1%, which results in 800 billion won for the share of local government. For financing this amount of the cost, at least 20 years of financial period and the rate of 2% increase of real estate are needed in operating the TIF.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.250-253
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• 2003

Many construction companies have been trying to extend their businesses to the development projects after IMF. Project financing was introduced to the construction market and has been popular with construction companies which can not furnish funds for project by themselves. But, there are so many problems that project financing has not been activated in the construction field. One of the main factors that disturb activation of project financing is distrust about construction management among participants. This distrust is caused by the lack of speciality, objectivity, clearness about CM. So, to process business successfully, they need specialty and objectivity for the construction management. In this research, I analyzed the role and duty of the main participants about CM in the development project ana suggested an advanced management structure in order to activate project financing in the development projects.

• Environmental and Resource Economics Review
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• v.18 no.1
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• pp.139-158
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• 2009

With the sample of Middle East crude oil imported to South Korea, this study empirically analyzes the effectiveness of the risk management strategies using derivatives such as futures and options. Assuming the hedging period of one to twelve months, it considers a spot purchasing strategy, 1 : 1 futures hedge strategy, OLS-based minimum-variance futures hedge strategy, buying call option strategy, and collar transaction strategy. According to the ex-ante result, using the derivatives of futures or options makes lower the procurement costs when the crude oil prices is increasing. With the hedging period less than or equal to six months, the hedging strategy using futures turns out to be superior in terms of procurement cost reduction and hedging effectiveness improvement. In contrast, the hedging strategies of buying call option and collar transaction would generate better results when the hedging program last over six months.

• Journal of the military operations research society of Korea
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• v.37 no.1
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• pp.11-25
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• 2011

This study analyzes the quantitaive effect of 155M artillery ammunition procurement from third party countries in the wartime using simulation. First, we study the concept of ammunition supply, procurement plan, transportation plan in the wartime and logistics support from third party countries. We then study the ammunition support possibility from third party countries. Secondly, we make a basic model on the sea-lift from Korea to U.S in the wartime using simulation followed by making comparative models on the sea-lift from Korea to U.S and third party countries. Finally, we analyze models on the completion date of ammunition transportation and the ammunition amount of each operation step. We then execute the sensitivity analysis on the ammunition amount from third party countries. In cocclusion, ammunition prcurement from third party countreis more supply 10% than basic model.

• Information Systems Review
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• v.9 no.1
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• pp.259-282
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• 2007

This paper provides a case for the comprehensive performance management system in Public Procurement Service. Public Procurement Service set up the BSC system at the beginning of 2006 by improving and complementing the earliest performance management system and made it possible to automatically connet the performance measurement and evaluation of the departmental and person by using CSF and KPI, which result from their mission and strategic assignments. Therefore, the public service of the adminstration is able to offer better customer service, as the private corporations do, apply the incentive and disincentive policies to the personnel and reward administration and contribute to changing the administration into an organization of competition and performance compensation. The application of the BSC system enables the strengthening of the individual evaluation system in the departmental, integration of various evaluations into one, and the establishment of a monitering system of achievement rate in the objective management in the periodic results. Such a case study of Public Procurement Service will determine the course of establishment of the BSC in other public institutions and suggest many successful methods and ideas for the performance management system.

• Korean Journal of Construction Engineering and Management
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• v.2 no.3 s.7
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• pp.75-82
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• 2001

Traditional bidding process and activities in public construction area has many problems in terms of the clearness and fairness of administration. And, it causes many cost consumption to suppliers. As part of the efforts to solve these problems, some public institutions developed the electronic bidding systems. But these systems have still problems in diverse aspects. Therefore, the purpose of this study is to analyze current bidding systems through literature survey, case study and process mapping methodology, to compare the result of the analysis with the developed electronic bidding systems and to suggest the improvement for the coming bidding systems. As results of this study, key processes and classified contract types about public construction bidding were identified. These can be applied by means of guidelines when public institutions are planning new electronic bidding systems. The composition of unified driving organization, the database development for information share and the standardization of national level for the new electronic bidding systems were also suggested.