• Journal of Lipid and Atherosclerosis
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• v.5 no.1
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• pp.61-77
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• 2016

Objective: This study aims to analyze cost-effectiveness of two most-commonly used statins from the perspective of the Korean national health system. Methods: The scope of the analysis included rosuvastatin (5 mg, 10 mg, and 20 mg) and atorvastatin (10 mg, 20 mg, 40 mg, and 80 mg). Effectiveness was defined as percentage (%) and absolute (mg/dL) reductions of low-density lipoprotein cholesterol (LDL-C) from the baseline. They were derived from published randomized controlled studies for rosuvastatin and atorvastatin. Effectiveness was defined as reductions in LDL-C levels per mg dose of the drugs. The annual direct medical costs including drug acquisition costs and monitoring costs over the one-year time horizon were calculated for each alternative. The average cost-effectiveness ratios (ACERs) and incremental cost-effectiveness ratios (ICERs) for each statin dose were calculated. Results: The ACERs for all doses of rosuvastatin (5 mg, 10 mg, and 20 mg) were lower than those for all doses of atorvastatin (10 mg, 20 mg, 40 mg, and 80 mg). Rosuvastatin 10 mg was the most cost-effective statin for LDL-C reduction. In cost-effectiveness analyses for corresponding doses of rosuvastatin and atorvastatin, rosuvastatin was the superior strategy which suggests both higher effectiveness and lower costs than atorvastatin. However, we have to consider this analysis is highly influenced by current price of statins in each market. Conclusion: For reduction of LDL-C levels in Korean patients with dyslipidemia, rosuvastatin 10mg is the most cost-effective statin in the current Korean market.

• Journal of Korea Trade
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• v.25 no.2
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• pp.196-219
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• 2021

Purpose - We attempted to empirically verify the effects of managerial attributes on cost stickiness in exporters. Exporters are often affected not only by external factors such as exchange rate but also by internal factors such as managerial attributes regarding their business activities. Because cost stickiness is the product of a manager's decision-making, it has been considered that managerial attributes have a great influence on the behavior. Therefore, our study was intended to find out whether cost stickiness shows differentiated aspects depending on managerial attributes in exporters. Design/methodology - We considered two managerial attributes: CEO power and managerial overconfidence. First, CEO power was measured as CEO pay slice. In addition, managerial overconfidence was measured based on three methodologies presented by previous studies. To measure cost stickiness, we used multiple methodologies presented by prior research. Findings - The results of our empirical analysis are as follows. First, in export firms, the greater CEO power is, the greater cost stickiness is. This result suggested that export managers with great influence little respond to temporary sales decrease promptly, little reduce related production costs flexibly in preparation for future sales recovery, but leave room to endure costs for idle resources. Second, the greater managerial overconfidence is, the greater cost stickiness is. This result indicated that export managers with great overconfidence on their decision-making often view the prospect for sales recovery positively; therefore, they little respond to temporary sales decrease immediately, little reduce related production costs flexibly for future sales recovery, but leave room to endure costs for idle resources. Third, export managers with great influence in their businesses and great overconfidence in their decision-making tend to show relatively great cost stickiness. The results proposed that the combination of the two factors functions to make cost stickiness greater. Originality/value - Our study is differentiated from extant studies in that we provided empirical evidence of the effects of managerial attributes on their business activities in exporters. Specifically, we verified the effects of managerial attributes on cost stickiness in Korean exporters. The results of our study are expected to contribute to providing useful information for exporters and start-ups.

• Nutrition Research and Practice
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• v.17 no.5
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• pp.984-996
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• 2023

BACKGROUND/OBJECTIVES: Prior studies, mostly conducted in Western countries, have suggested that the low cost of energy-dense foods is associated with an increased risk of obesity. This study aimed to investigate the association between food costs and obesity risk among Koreans who may have different food cost and dietary patterns than those of Western populations. SUBJECTS/METHODS: We used baseline data from a cohort of 45,193 men and 83,172 women aged 40-79 years (in 2006-2013). Dietary intake information was collected using a validated food frequency questionnaire. Prudent and Western dietary patterns extracted via principal component analysis. Food cost was calculated based on Korean government data and market prices. Logistic regression analyses were performed to investigate the association of daily total, prudent, and Western food cost per calorie with obesity. RESULTS: Men in the highest total food cost quintile had 15% higher odds of obesity, after adjusting for demographic characteristics and lifestyle factors (adjusted odds ratio, 1.15; 95% confidence interval, 1.08-1.22; P-trend < 0.001); however, this association was not clear in women (P-trend = 0.765). While both men and women showed positive associations between prudent food cost and obesity (P-trends < 0.001), the association between Western food cost and obesity was only significant in men (P-trend < 0.001). CONCLUSIONS: In countries in which consumption of Western foods is associated with higher food costs, higher food costs are associated with an increased risk of obesity; however, this association differs between men and women.

• Journal of Korean Society of Rural Planning
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• v.14 no.4
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• pp.121-128
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• 2008

The purpose of this study is to identify the trend of the contents of the plan that was implemented through contents analysis on the master plan project of rural village development projects that began in 2004. Contents analysis is based on the classification of business in the detailed enforcement regulations of rural village development project. Analysis on the project contents was conducted for 30 days from June 20 to July 20 for the 132 regions established in the master plan during the period from 2004 to 2007. The results of the analysis showed the following. First, scenery facilities, rural tourism, cultural welfare and income basis projects accounted for 76.5% of the total projects. Second, with regard to investment costs depending on the contents of the projects, cultural welfare, rural tourism and income basis projects accounted for 66.3% of the total investment costs. Third, it was found out that, with regard to the trend of change in the project contents by year, income basis projects were sharply reduced whereas cultural welfare and scenery facilities projects were increased. Finally, with regard to the analysis on the projects by region, it was found that Gangwon, Gyeonggi and Chungnam gave high weight on rural tourism, whereas Gyeongbuk, Jeonnam and Jeonbuk gave low weight on rural tourism. Particularly, Gyeongnam was found to have given low weight on income basis project.

• Journal of the Korean Institute of Landscape Architecture
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• v.43 no.6
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• pp.150-159
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• 2015

This study was conducted for the purpose of presenting basic data for calculating a more reasonable landscaping project cost in the future through the construction cost calculation ratio of scenic planting and facilities and their time series trend analysis targeting 'J' corporation, a representative Korean public institution that creates apartment complexes. This study targeted scenic planting and the facility construction costs of 37 apartment complexes in the capital area from 2004 to 2012, using statistical analysis methods such as technical analysis, correlation analysis, and regression analysis to analyze the characteristics of the time series change. The conclusion was drawn as follows. First, breaking down the cost of overall landscaping projects to scenic planting and facility construction, the ratio of the average cost of scenic planting to that of facility construction showed 56.1% to 43.9% from 2004 to 2012. Second, the costs of planting construction and facility construction both showed a fluctuation range of about ${\pm}3%$, implying relatively steady costs considering the inflation rate. Third, the landscape construction cost for each type of construction resulted in a fluctuation range from minimum ${\pm}3%$(exercise facility) to maximum ${\pm}5%$(packing facility), reflecting that among the landscaping projects, the facility construction costs tended to show relatively large fluctuations in accordance with the change of time series. Fourth, the comprehensive indication of the ratio of landscaping project costs by time series and landscaping construction type implies that the regional characteristics and positional condition of the apartment complexes were not reflected sufficiently. Fifth, the high level of correlation of landscaping construction types and landscaping construction elements imply that the entire construction costs were controlled through partial adjustment of cost components within the overall frame of construction cost. These results reveal the problems of standardized landscaping cost irrespective of user satisfaction or environmental traits such as the conditions of the apartment complexes.

• Management & Information Systems Review
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• v.17
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• pp.107-133
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• 2005

The purpose of this study was to analyze a trend of profitability classified by characteristics of hospitals and to analyze related factors. The data for this study were derived from survey material conducted by the Korean Hospital Association on 33 hospitals in Korea between 1993 and 2002. Profitability was measured in the aspect of investment profit rate and operation profit rate with net profit to total assets, normal profit to total assets and operating margin to gross revenue as dependent variables. Independent variables were classified by general factors (ownership, number of beds, period of establishment, region), financial factors (total asset turnover, liabilities to total assets, current ratio, fixed ratio, inventories turnover, personnel costs per operation profit, material costs per operation profits), composition of manpower and facilities(personnel and area per beds), productivity index(the number of daily patients per medical doctor, the number of daily patients per nurse), the score of quality assurance activities. First, Concerning the specialists per beds or area per beds and profitability of hospitals there was not statistically significant. Second, Those hospitals having the most daily patients per nurse had significantly higher profitability than the others, but the number of daily patients per medical doctor had little effect on the profitability. Thirds, Those hospitals having a higher proportion total asset turnover tended to show significantly higher profitability compared to other hospitals, but the liabilities to total assets and liquidity ratio had a little difference to the profitability. Those hospitals having a higher proportion personnel costs per operation profit and material costs per operation profits tended to show significantly lower hospital profitability compared to other hospitals. Fourth, In regression analysis, hospital profitability had negative relationship with personnel costs per operation profit or material costs per operation profits. While it had positive relationship with total asset turnover, the number of daily patients per nurse. In conclusion, private hospitals had higher profitability than that of public hospitals. Though factors related to profitability of hospital were different according to ownership, it is important for securing appropriate profitability by operating appropriate number of nurse, raising total asset turnover, and reducing personnel costs, material costs per operation profits. This study can be used as a baseline data for planning of hospital management. But the study may be limited in that the results cannot be generalized due to its small sample size. However, this longitudinal observation of 33 hospitals over ten year period has significant merit alone.

• Journal of Energy Engineering
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• v.28 no.3
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• pp.42-54
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• 2019

The solar and wind power is spreading as a means to $CO_2$ reduction, but it has the characteristics of the volatility depending on the weather changes. This article aims to estimate the additional integration costs in Korea electric system in response to such volatility of increasing solar and wind power generation, using Korea electric power trading analyzer(KEPTA). The analysis utilizes the statistics of "8th Basic Plan for Long-term Electricity Supply and Demand" and "Renewable Energy Plan 3020". As the results, integration costs will be estimated 13.94Won/kWh~32.55Won/kWh, consisting of 8.94Won/kWh as back-up costs, 1.03Won/kWh~4.45Won/kWh as balancing costs, and 3.97Won/kWh~19.16Won/kWh as grid-costs. These results suggest that when the integration costs are secured, Korea electric system will be expected in the stable situation. This article leaves the further studies with taking the technological development of solar and wind power generation, the introduction of energy storage system, and wholesale price of electricity into consideration.

• Environmental and Resource Economics Review
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• v.28 no.1
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• pp.147-176
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• 2019

This paper uses research on the Levelized Cost of Electricity (LCOE) in South Korea to conduct a simulation analysis on the impact of nuclear power dependency and usage rates on the social costs of power generation. We compare the $7^{th}$ basic plan for long-term electricity supply and demand, which was designed to increase nuclear power generation, to the $8^{th}$ basic plan for long-term electricity supply and demand that decreased nuclear power generation and increased renewable energy generation in order to estimate changes in social costs and electricity rates according to the power generation mix. Our environmental generation mix simulation results indicate that social costs may increase by 22% within 10 years while direct generation cost and electricity rates based on generation and other production costs may increase by as much as 22% and 18%, respectively. Thus we confirm that the power generation mix from the $8^{th}$ basic plan for long-term electricity supply and demand compared to the $7^{th}$ plan increases social costs of generation, which include environmental external costs.

• Environmental and Resource Economics Review
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• v.13 no.2
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• pp.219-243
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• 2004

Generally, electricity market has monopoly market structure because of need of enormous investment for infrastructure. However, the introduction of competition in network industry as electricity is a tendency of the world with decreasing the effects of economy of scale due to the advancement of technology. Now, electricity industry restructuring is in progress but the competition in electricity retail market is not in force yet in Korea. Whether a effective competition exist or not is very important to policy decision maker who drive restructuring, but there are small numbers of quantitative researches on that. In this study, we estimated the effectiveness of competition in the electricity retail market through switching costs. If switching costs are high, consumers actually can be locked in incumbent firm in spite of introduction of competition. Therefore switching is a critical factor to determine effectiveness of competition and to estimate the size of switching costs quantitatively can proffer the information about whether the competition in the electricity retail market is effective or not in the future. We estimated switching costs using consumer' stated-preference data by conjoint analysis. In according to estimation results, the cost of switching process is not so high, but the relative brand loyalty of an incumbent company is significantly high. And the price is considered as the most important factor choosing an electric service commodity. Based on the empirical results, it is possible to analyze the relationship between suppliers' competitiveness resulted from management efficiency and customers' switching possibilities. The paper therefore provides guidance for suppliers in deciding to enter into retail competition and for policy makers in introducing retail competition. And it has a significance of estimating the switching costs directly.

• Journal of Preventive Medicine and Public Health
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• v.32 no.3
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• pp.317-324
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• 1999

Objectives: Since 1991, nationwide massive neonatal screening program for phenylketonuria (PKU) and congenital hypothyroidism have been performed in Korea. As in many other countries, efficiency of this program has not been definitely concluded. For the purpose of evaluation of this program, from the perspective of efficiency, a cost-benefit analysis was carried out. Methods: Costs of the detection and the treatment program were compared with the projected benefit(avoided costs) that results from the prevention of the mental retardation associated with the disorders due to PKU and hypothyroidism. Costs and benefits were discounted at an annual rate of 5%, and duration of life-long labor was assumed to be 30 years. Cost and benefit were estimated based on the detection rates of one case of PKU per 5,572 and one case of congenital hypothyroidism per 32,554 babies screened during 1991-1997. Results: The benefit-cost ratio was 0.418. The sensitivity analysis for the discount rates and labor durations showed that most cost-benefit ratios were lower than one(1.0) except when discount rate was changed to 3% and detection rate to two- or threefold and/or labor duration to 40 years. Conclusion: The result of this study suggested that present program of mass screening for PKU and congenital hypothyroidism could not be justified in terms of efficiency. It doesn't coincide with the results of previous studies in major developed countries, presumably because of difference in detection rates and welfare cost for the disabled.