• Korean Journal of Construction Engineering and Management
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• v.25 no.2
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• pp.45-55
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• 2024

This study analyzed the efficiency determinants of specialty construction companies by industry using the DEA model and the Tobit model. The analysis targets are 394 specialty construction companies as of 2022. As a result of analysis of efficiency determinants using 12 company characteristics as independent variables, the biggest problem for specialty construction companies was overall efficiency reduction due to rising labor costs. In addition, in a situation where construction companies' loan regulations are severe, the debt ratio was found to have a positive effect on efficiency. Company size had a different impact by industry, and the number of businesses held, credit score, and total capital turnover had an effect only on some industries. This study presents results that are an advance on existing research in that it strategically analyzes factors for improving the efficiency of specialty construction companies. However, it has limitations such as limiting the analysis to only specialty construction companies subject to external audit, insufficient number of companies subject to analysis by industry, and analyzing relative efficiency in the same category for each industry.

• Journal of Korean Society of Transportation
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• v.34 no.6
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• pp.523-534
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• 2016

The purpose of this study is to develope a method for measuring social benefit by mitigating in-vehicle congestion level in intercity buses. Contingent valuation method and Tobit model are adopted for social benefit evaluation method. One thousand passengers were interviewed with 992 obtained valid samples. Tobit models with age, income level, and bus boarding times as explanatory variables are selected to estimate the willingness to pay for the mitigation of intercity bus in-vehicle congestion. Statistically and logically, two models with age or income level as explanatory variables are turned out to be valid. The intercity bus service supply status and usage are examined and the bus users who have willingness-to-pay for the intercity bus in-vehicle congestion mitigation have been identified. In case of the 'no standing' rules implemented to the intercity bus, the annual economic benefit from the service is estimated to be 14.7 billion won.

• Journal of Information Management
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• v.41 no.2
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• pp.111-131
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• 2010

This paper examines the levels and influence factors on efficiency of public libraries in metropolitan cities. For this purpose, In the first stage, the efficiency score analysis of 129 sample public libraries has been undertaken. In the second stage, the efficiency scores obtained from the first stage are regressed on environmental factors. The result of this study shows that : (1) main source of technical inefficiency is pure technical inefficiency rather than scale inefficiency; (2) it is positive effect environmental factors on the efficiency that the population, the dummy variable of capital area.

• Journal of the Korean Society of Safety
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• v.29 no.5
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• pp.154-159
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• 2014

This study deals with the pedestrian accidents of intersections in case of Cheongju. The objective is to develop the pedestrian accident models using Tobit regression model. In pursuing the above, the pedestrian accident data from 2007 to 2011 were collected from TAAS data set of Road Traffic Authority. To analyze the accident, Poisson, negative binomial and Tobit regression models were utilized in this study. The dependent variable were the number of accident by intersection. Independent variables are traffic volume, intersection geometric structure and the transportation facility. The main results were as follows. First, Tobit model was judged to be more appropriate model than other models. Also, these models were analyzed to be statistically significant. Second, such the main variables related to accidents as traffic volume, pedestrian volume, number of traffic island, crossing length and the pedestrian countdown signal systems were adopted in the above model.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.14 no.6
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• pp.50-59
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• 2015

This study aimed at suggesting Willingness To Pay (WTP) for introduction of the Traffic Accident emergency Call (TAC) system by using Contingent Valuation Method (CVM) which is a general valuation method. As the method, this study suggested a WTP estimation method of the TAC system with the double-bound dichotomous choice model. In previous studies, the data are processed differently according to the type of questions and analysis models used for the calculation of willingness to pay. Therefore, we re-organized the model by the cases using the truncated data sets, and showed the difference in WTPs. The dataset was developed by more than 500 questionnaire obtained from online and offline survey with the consideration of composition ratio by age group referring housing census in 2010 to mitigate regional bias of samples. At last, this study applied various statistical methods, survival analysis, multiple regression, and Tobit model for better interpretation of the questionnaires.

• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.183-212
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• 2008

The purpose of this paper is to analyze the efficiency change and determinants of the korean non-life insurance companies. we use DEA (Data Envelopment Analysis) model to measure company efficiency change and use GLS, Tobit model, FIixed effect model, Random effect model, GMM to measure efficiency determinants. we utilize ten non-life insurance companies in korea and the panel data for five from 2001 to 2005. The empirical results show the following findings. First, technical efficiency shows that approximately 15.5% of inefficiency exists on the non-life insurance companies and it reveals that the cause for technical inefficiency is due to scale inefficiency. Second, Dea Window results show that the stable dissimilarity by standard deviation, LDP of CCR. Third, the results of efficiency determinants show that increase efficiency is depend on the premium income and real estates.

• Journal of Korean Society of Forest Science
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• v.88 no.3
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• pp.400-407
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• 1999

The purpose of thin paper is to test difference of the two question formats, open-ended and dichotomous choice formats, in the contingent valuation method using the estimated recreational benefits. The data were collected from the visitors at the Songnisan National Park. The recreational benefit based on the equivalent variation. The two question formats, but the same content, were asked of the same individuals. In this analysis, it was used travel cost and monthly income as the exogenous variables, which assumed a linear functional form for the WTP equation. The model assumed a bivariate normal distribution on the basis of the probit and tobit model concerning the censored zero WTP. The result showed no differences in the recreational benefits from the different question formats under a same respondent. The mean benefit was estimated 25.556 Won per 5 years per visitors.

• Journal of Korea Technology Innovation Society
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• v.19 no.4
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• pp.711-735
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• 2016

Drug Development is very important for promoting public health and pharmaceutical industry. There has been many studies on the efficiency of drug development, but there are few studies on the drug development R&D performed by government. Since CCR model assumes unidirectional influence of input and output, it is not appropriate to analyze the efficiency of R&D due to the time-lag and spill-over effect. Also, BBC model which assumes variable returns to scale has difficulty in deriving priorities between decision making units. Recently, Range Adjusted Measure (RAM) model has been suggested in R&D efficiency analysis. RAM model measures the efficincy by eliminating inefficiencies under variable returns to scale assumption, and its strong monotonicity enables to provide clear priorities between decision making units. In this study, we analyzed the efficiency of national R&D programs for drug development using the two-step approach, including RAM model and Tobit regression analysis, and discussed major policy implications.

• Journal of Korean Society of Transportation
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• v.31 no.3
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• pp.33-44
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• 2013

Personal Rapid Transit(PRT) has emerged as a promising transportation mode for transit-oriented sustainable communities. In this study, an alternative design of questionnaire survey is proposed in order to capture traveler's perception of an unexperienced transportation mode. This study aims at predicting the mode choice diversion behavior of potential PRT users who do not have experience of using it previously, considering their willingness-to-pay. The proposed model was applied to predict an aggregate forecast of PRT patronage for the city of Songdo where PRT is considered to be constructed. For validation of the proposed model, the price elasticity of PRT demand was analyzed, compared with existing models. The analysis results suggest that the proposed design of questionnaire survey is able to capture respondents' attitude and perception to unexperienced transportation mode in an effective manner. Also, they show that the proposed diversion rate model is more realistic than existing models in explaining the effects of users' willingness-to-pay for predicting PRT patronage.

• Journal of Korea Technology Innovation Society
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• v.6 no.3
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• pp.279-297
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• 2003

The purpose of this paper is to analyze the determinants of company R＆D investment with zero observations by using the data of R＆D Scoreboard published by Ministry of Science and Technology(2002). Conventional parametric approach to dealing with zero investments is not robust to heteroscedastic and/or non-normal error structure. Thus, this study applies symmetrically trimmed least squares(STLS) estimation as a semi-parametric approach to dealing with zero R&D investments. The result of specification test indicates the semi-parametric approach outperforms the parametric approach significantly. Moreover, the results of the study provide various implications as summarized below. The R&D investment of IT company is larger than that of non-IT company. The R&D investment has a positive relation to foreigners' investment ratio. The higher degree of financial self-reliance is, the larger the R&D investment is. Firm size variables such as sales amount and the number of workers are positively related to R&D investment. The sales elasticity of R&D investment is larger than one. However, the workers elasticity of R&D investment is smaller than one.