• Ocean and Polar Research
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• v.25 no.4
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• pp.593-601
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• 2003

The purpose of this paper is to investigate economic feasibility of creating artificial tidal flats using cost-benefit analyses. We assumed that the cost factors are associated with designing, construction and monitoring, and the benefit factors are associated with fisheries production, habitation, prevention of disasters, water purification, aesthetic value and existence value. First, for analyzing economic feasibility, the scenario suggests that a design can be made in a year, construction can be completed in three years and monitoring must be made for 20 years. Assuming the discount rate of 7.5%, economic feasibility analyses showed that B/C was 2.26 and IRR was 14.50. This study indicated there is economic validity of implementing creation of artificial tidal flat. In addition, we carried out a sensitivity analysis at the change of discount rate and restoration rate. The result of sensitivity analysis clearly showed that economic validity is low when discount rate is over 15%, and changes in restoration rate did not significantly effect on the economic validity.

• Journal of the Korea Safety Management & Science
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• v.11 no.3
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• pp.181-188
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• 2009

This paper presents the economic validity with the cost/benefit analysis on establishing R&D Supreme Academy. To evaluate the profitability of R&D Supreme Academy, willingness to pay (WTP) is measured by contingent valuation method (CVM) and then the net present value (NPV), internal rate of return (IRR) and benefit/cost ratio(BCR) are calculated. The results of economic evaluation verified that the establishment of R&D Supreme Academy is timely and effective in an economic perspective.

• Ocean and Polar Research
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• v.26 no.2
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• pp.187-197
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• 2004

The purpose of this paper is to investigate economic feasibility of manganese nodules in Korea area (Clarion-Clipperton Fracture Zone). We assumed that the production scale of manganese nodules were 3.0MT or 1.5MT and analyzed that the capital cost and operating cost were estimated in the four sectors, exploration, mining, transportation and metallurgical process. The capital cost and operating cost evaluation reflects the latest technical practices. First, for analyzing economic feasibility, the scenario suggests that the production of 4 metals can be made for 25 years. Assuming the discount rate at 8.0%, equity capital at 50% and tax at 27%. When manganese nodule were mininged 3.0 MT, economic feasibility analyses showed that IRR was 12.8 and pay-back period was 9.2 years, and when manganese nodules were mininged 1.5 MT, economic feasibility analyses showed that IRR was 4.0 and pay-back period was 11.8 years. This study indicated there is economic validity of at the product of manganese nodules 3.0 MT. In addition, we carried out a sensitivity analysis at the change of cobalt price on mining 1.5 MT. The result of sensitivity analysis clearly showed that economic validity is high at increasing of cobalt price 50% up.

• Korean System Dynamics Review
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• v.6 no.1
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• pp.147-176
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• 2005

This paper attempts to analyse the financial validity of the Eco-therapy project which 'J' city in 'C' province has been eagerly trying to implement for its regional economic development and also to estimate the potential economic impact of the project on its regional economy. In doing so, it employs system dynamics which is a methodology for studying and managing complex systems, such as one finds in business and other social systems. Analytic framework for this study is constructed, based on the existing theoretical studies. This study concludes that the Eco-therapy Project concerned is economically and financially valid and it is also expected that the regional economic impacts arising from the construction and operation of the facilities concerned are greater than any other project which 'J' city has been pursuing.

• Journal of Korea Entertainment Industry Association
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• v.13 no.1
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• pp.111-119
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• 2019

The purpose of study was to evaluate the economic evaluation of Chuncheon curling stadium. In oder to estimate economic evaluation, benefit/cost ratio, net present value and internal rate of return were used. Additionally, in order to investigate the socio-economic spread effect, literature review and input-output analysis were used. The results of study were as follows. First, as a result of analyzing the demand for curling stadiums in Chuncheon, it was believed that the construction of the stadium will attract athletes from the Chuncheon region as well as athletes from Seoul, Incheon, Gyeonggi Province and North Chungcheong Province. Second, economic validity analysis showed that the initial investment did not make sense, but the players' training and competitions and the advantages of the potential experience of curling events for citizens in nearby areas, including Chuncheon, make the construction and operation reasonable. Third, as a result of the review of the social and policy validity of the curling stadium, the project to build a curling stadium in Chuncheon was secured with a policy validity as a public sports facility necessary for both professional and living athletes. Finally, the analysis of socio-economic spread effect of curling stadiums had shown that it would have a positive effect on the level of satisfaction of the general public as well as the discovery of elite athletes.

• Journal of the Korean Society of Clothing and Textiles
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• v.34 no.6
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• pp.913-927
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• 2010

This study investigates the influence of Likert scale formats such as the number of response categories and the inclusion of a mid-point from a methodological point of view using instruments that measure a fashionmarketing-related subject. Using a self-administered questionnaire, 201 respondents rated their economic clothing shopping orientation on three formats of scales that differed only in the number of response categories (ranging from 5 to 7) from February 8 to February 12, 2010. Descriptive statistics, Spearman's rank order correlation, t-test, exploratory factor analysis, confirmatory factor analysis, Pearson's correlation, and Cronbach's alpha were used in the analysis. The results are as follows. First, three scale formats were generally suitable for use due to validity and reliability. Second, the response results varied with the number of categories and the inclusion of a mid-point, although the differences were statistically insignificant (with only a few cases that differed). Third, construct validity was more secure in scales with fewer categories, whereas convergent and discriminant validity was generally good in all scale formats. Fourth, reliability coefficients were higher in scales with more categories. Fifth, the number of categories was of greater importance to instrument design than the inclusion of a mid-point. Implications for appropriate scale designs are suggested in this study.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.771-781
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• 2021

The purpose of this study is to identify major drivers of Myanmar's long-term economic growth and draw implications to implement development policies. This study investigated Myanmar, as the country is the most recently opened economy in Southeast Asia. This study conducted simulation analysis based on scenarios by applying World Bank's Long-Term Growth Model, Penn World Table 9.1, and World Development Indicator data. This study makes extensive use of LTGM and the LTGM-TFP extension to improve the validity of models for data calibration. This study confirms the validity of the model with data calibration and specifies scenarios for simulation analyses by setting the growth trajectory of Vietnam due to common geographical, political, and economic conditions. Main findings include that Myanmar's economic growth rate will continue to fall below 3% in 2040 without proper improvement of growth drivers. The results of this study also provide that total factor productivity growth and female labor participation are key factors for Myanmar's long-term economic growth. This study advises policymakers in Myanmar to strengthen human capital, which is crucial for total factor productivity growth in Myanmar's context and directly affects economic growth. Further, labor market policies to promote female labor participation is important to sustain economic growth.

• The Journal of the Korea Contents Association
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• v.16 no.4
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• pp.399-407
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• 2016

This study is about setting the weighed value of evaluation items for cultural tourism development project using AHP and it analyzed the cultural and ecological tourism infrastructure project in three cultural areas of Andong City. As a result of examining the reliability of evaluation items, it turned out to be 0.9, an appropriate level. In the analysis of weighed value, the items valued highly were in the order of validity of the plan, economic validity, validity of the policy. As for the detailed indices for the three that showed the highest weighed value, for validity of the plan, distinction of contents; for validity of the policy, compatibility of regional characteristics; for economic validity, sustainability were given high values. In the end, it could be concluded that as the cultural and ecological tourism infrastructure project in three cultural areas was delayed a lot more than previously planned, in order to flexibly respond to changing environment, it would be desirable to change parts of the previous plan before pushing ahead with it.

• Journal of The Korean Society of Agricultural Engineers
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• v.48 no.6
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• pp.17-28
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• 2006

We propose an Agricultural Infrastructure Expansion Plan (AIEP) for North Korea following unification from the standpoint of a united Korea's social stability. We predict the food demand after unification, according to four different development scenarios based on the AIEP. These scenarios include meeting a self-sufficient level in the staple food crop, satisfying long-term food supply and demand for the North Korean people, achieving a level of North Korean food consumption comparable to that of South Korea, and maintaining productivity to stabilize of North Korea's rural society. We present the results of a 'benefit-cost' analysis in meeting the production targets of predicted food demands after unification from a civil engineering perspective. We found that the estimated total costs would range from 15.2 to 43.0 billion dollars depending on the particular AIEP scenario. In our analysis, all of the four scenarios presented above demonstrated a high degree of economic validity. We conclude that the AIEP is a necessary and economically valid project for a united Korea's future because it would forestall the collapse of North Korea's rural communities, thereby preventing tremendous economic losses upon unification.

• Journal of the Korean Data and Information Science Society
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• v.15 no.2
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• pp.355-365
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• 2004

Kim et al.. (2003) developed an Economic Instability Index (EII) by using mean squared error (MSE) from the neural network (NN) trained on the 1995 KOSPI. In this paper we study validity of the NN. For this we compare the NN with the well known Box-Jenkins linear auto-regressive processes. Our conclusive understanding of the problem is that the NN provides quite effective EII because it tends to overfit.