• Management & Information Systems Review
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• v.36 no.4
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• pp.21-32
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• 2017

Motivated by the recent cases of negligent social responsibility as manifested by foreign luxury fashion brands in Korea, this study investigates whether agency costs depend on the sustainability of different types of corporate governance. Agency costs refer either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. The firms with luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the firms may hold down wasteful spending to report a gaudily financial achievement. This results in mitigation of the agency cost. Agency costs are measured by the value of the principal component. First, three ratios are constructed: asset turnover, operating expense to sales, and earnings before interest, tax, and depreciation. Then, the scores of each of these ratios for individual firms in the sample are differenced from the ratios for the benchmark firm of S-OIL. S-OIL was designated as the best superior governance model firm for 2013 by CGS. We perform regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The regression results indicate that the agency costs of the firms with luxury fashion brand exceed those of control group in the fashion industry in the part of operating expenses, but the agency cost falls short of those of control group in the part of EBITD, thus the aggregate agency costs are not differential of those of the control group. In sensitivity test, the results are same that the agency cost of the firms are higher than those of the matching control group with PSM(propensity matching method). These results are corroborated by an additional analysis comparing the group of the companies with the best brands with the control group. The results raise doubts about the effectiveness of management of the firms with luxury fashion brand. This study has a limitation that the research has performed only for 2013 and this paper suggests that there is room for improvement in the current research methodology.

• Journal of Korean Society for Quality Management
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• v.49 no.2
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• pp.213-231
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• 2021

Purpose: This study intends to provide decision-making information to improve efficiency by analyzing the management efficiency of smart greenhouse business entities and identifying factors that affect the efficiency based on input and output. Methods: The subjects of analysis were business entities for cultivating strawberries in smart greenhouses in Jeolla region (northern and southern Jeolla provinces), and the analysis focused on the management performance of the 2019-2020 crop period (year). Data Envelopment Analysis(DEA) was applied as an analysis method for efficiency analysis, Quantile Regression(QR) analysis was applied as a factor affecting the efficiency. Results: The reason for the efficiency gap between business entities was that there were many business entities that did not minimize the input cost at the current level of output, and the area where the variance among business entities was large was the fixed cost per 10a. In the results of the affecting factor analysis, it was found that the seed-seedlings cost, fertilizer cost, other material cost, and employment and labor cost had a negative (-) effect on the efficiency, and that the repair and maintenance cost had a positive (+) effect. Conclusion: Therefore, to achieve the efficiency of scale, it is necessary to reduce the input scale to an appropriate level. In the case of business entities with low efficiency by quartile, the seed-seedlings, fertilizer, and other material costs reduce expenditures, and repair maintenance costs can improve efficiency by increasing expenditures.

• The Journal of the Korea Contents Association
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• v.6 no.7
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• pp.22-30
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• 2006

The goal of the company and profit maximization can be achieved by creating revenue or reducing costs. What can be done by the effort of the firm itself is possible through cost-reduction rather than through revenue-creation. Under this economic situation, one of the best way for cost-reduction is to reduce cost of logistics. But logistics costs of a firm is continually increased because of the various customer-satisfaction, competition. This study considers that logistics cost management system be able to apply business practice through to used only a merit of CVP(Cost - Volume Profit) analysis method for effective decision making. To conclude, this study depicts that logistics cost management according to used a merit of CVP analysis method can provide information useful for making strategy of logistics. In short, It is reduce to more costs of logistics investment than are necessary. and, I will expect a man who charge logistics to improvement, adaptation, and application.

• The Transactions of the Korea Information Processing Society
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• v.4 no.6
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• pp.1589-1600
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• 1997

The construction of optical access network costs upper 40% in total installation cost of total optical network. Optimization of access network therefore is core in optical network. Advanced countries include EU, Japan and USA already have researched access network. This paper presents analysis of three broad-band fiber-optics subscriber loop architectures(HFC, ATM-PON, Super PON). The analyses focus on the specific demonstrated architectures and use component cost projections to estimate future network costs on a per-subscriber basis. We use TITAN(Tool for Introduction Scenarios and Techno-Economic Evaluation of The Access Network) model. We find that ATM-PON can deliver voice and ISDN data at installed first costs than the other architectures. This is due to the sharing bandwidth among a cluster of subscribers within Curb. This work intends to support establishing guidelines for strategic decisions regarding the development of the access network alternatives of different operators.

• Asian Pacific Journal of Cancer Prevention
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• v.16 no.18
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• pp.8265-8270
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• 2016

Purpose: A cost-utility analysis was performed to assess the cost-utility of neoadjuvant chemotherapy regimens containing doxorubicin and cyclophosphamide (AC) versus paclitaxel and gemcitabine (PG) for locally advanced breast cancer patients in Iran. Materials and Methods: This cross-sectional study in Namazi hospital in Shiraz, in the south of Iran covered 64 breast cancer patients. According to the random numbers, the patients were divided into two groups, 32 receiving AC and 32 PG. Costs were identified and measured from a community perspective. These items included medical and non-medical direct and indirect costs. In this study, a data collection form was used. To assess the utility of the two regimens, the European Organization for Research and Treatment of Cancer Quality of Life Questionnaire-Core30 (EORTC QLQ-C30) was applied. Using a decision tree, we calculated the expected costs and quality adjusted life years (QALYs) for both methods; also, the incremental cost-effectiveness ratio was assessed. Results: The results of the decision tree showed that in the AC arm, the expected cost was 39,170 US$ and the expected QALY was 3.39 and in the PG arm, the expected cost was 43,336 dollars and the expected QALY was 2.64. Sensitivity analysis showed the cost effectiveness of the AC and ICER=-5535 US$. Conclusions: Overall, the results showed that AC to be superior to PG in treatment of patients with breast cancer, being less costly and more effective.

• The Journal of Society for e-Business Studies
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• v.18 no.4
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• pp.169-193
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• 2013

This study investigates time series data on internet banking systems and business performances for 5 large-scale banks : Kookmin, Woori, Hana, City, Shinhan. These banks have the common features that they merged with other banks around 2000, hence they experienced massive IS integration between banks. This study adopted VAR and VECM for identifying Granger causality between the quality of internet banking systems and the performances of banks(operating revenue and cost). The main results are as follows. First, internet banking system impacts positively on the revenues as well as costs of banks. Second, the improvement of internet banking system is instigated by cost part more than revenue part. Hence, the results imply that banks tries to reduce operating costs via internet banking systems, however the systems rather increased the costs of banks, although the systems increased operating revenues of banks too.

• Korean Journal of Clinical Pharmacy
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• v.26 no.4
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• pp.341-347
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• 2016

Background: Liver cirrhosis causes substantial socio-economic burden and is one of the major severe liver diseases in Korea. Nonetheless, there is only a few studies that analyzes disease burden of liver cirrhosis in Korea. Such study must be carried out due to its increasing need from the invention of new drugs for chronic hepatitis and demand for cost-effectiveness analyses. Methods: Patient sample data with ensured representativeness was analyzed retrospectively to compare the medical costs and uses for patients with compensated cirrhosis and decompensated cirrhosis. Patient claims data that include K74 and K703 from the year of 2014 were selected. Within the selected data, decompensated cirrhosis patient was identified if complications such as ascites (R18), encephalopathy (B190), hepatic failure (K72), peritonitis (K65), or esophageal varices (I85) were included, and they were compared to compensated cirrhosis patients. Results: 6,565 patients were included in the analysis. The average cost per patient was 6,471,020 (SD 8,848,899) KRW and 2,173,203 (4,220,942) KRW for decompensated cirrhosis and compensated cirrhosis, respectively. For inpatients, the average hospitalized days was 38.0 (56.4) days and 27.2 (57.2) days for decompensated cirrhosis and compensated cirrhosis, respectively. For outpatients, the average number of visits was 8.7 (9.1) days and 5.3 (7.5) days for compensated cirrhosis and decompensated cirrhosis, respectively. Conclusion: Compared to compensated cirrhosis patients, decompensated cirrhosis patients had higher costs, especially for hospitalization, injection, examination, and drugs administrated within medical institutions.

• Research in Community and Public Health Nursing
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• v.21 no.3
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• pp.362-373
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• 2010

Purpose: The purpose of this study is to evaluate the costs and benefits of individual home visiting health care using secondary data and literature review. Methods: The total number of subjects was 1,008,837. A specific program was classified into disease management, care of infant, child and women, or elderly care. The costs and effects of a program were identified from a societal perspective, and the effects were converted into monetary terms or benefits. The total cost was calculated in the way that medical expenses, travel costs and productivity losses were offset by the decrease in benefits and thus only the program budget was included in the total cost. Results: The total program cost was 47.6 billion won per year and the total annual benefit was estimated at 435.6 billion won. The benefits of arthritis management were the biggest among disease management programs. The net benefit was 388.0 billion won per year and the benefit/cost ratio was 9.16. Conclusion: Home visiting health care was validated to be economically effective. It made a positive contribution to improving the health status of vulnerable populations and reducing medical expenses. These results suggest that home visiting care should be extended more broadly to vulnerable populations.

• Journal of Navigation and Port Research
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• v.33 no.6
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• pp.415-421
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• 2009

Recently, the volume of transshipment containers in Busan Port has been declining significantly and domestic ports' throughput is shown far below the projected one. Accordingly, the national port development plan made to capture the sharply increasing demand in the past seems to be subject to an amendment, and inducing port container traffic becomes a key issue. In such situation this paper aims at analysing the effect of logistics cost saving when Japanese import and export containers are transshipped in Busan port. For this we developed 3 scenarios for the movement of containers through the major container ports in western cost of Japan, analysed logistics costs together with cost savings and finally derived some implication for inducing the containers to Busan Port.

• Korean Journal of Construction Engineering and Management
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• v.8 no.6
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• pp.139-149
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• 2007

The purpose of this study is to examine the problem of BTL(Build Transfer Lease) projects through comparative analysis on running costs, focusing on primary school, junior and senior high school education facilities, and then to provide useful information on the estimation of running costs by suggesting valid cost criteria. For this, eight schools from A and B consulting firms were sampled from capital region and other areas. Sampled schools were classified into four categories according to school grade, and running cost data are collected and analyzed from relative view points. The results of this study are as follows: 1) running costs which are analyzed by categories show some difference among sub-items, 2) major problems related to running cost prediction of BTL projects are revealed and improvement schemes are suggested for two groups (Owner and Project applicants).