• Journal of Korea Trade
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• 제26권3호
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• pp.23-44
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• 2022

Purpose - Recent issues such as vessel enlargement, strengthening of environmental regulations, and port smartization are expected to increase costs and intensify competition in the port industry. In the new normal era, when external growth has reached its limit, the efficient operation of ports is becoming indispensable for achieving sustainable growth. This study aims to identify the determinants of inefficiency by examining the cost structure and efficiency of container terminals in Korea and furthermore propose the political implications to derive the maximization of efficiency. Design/methodology - This study estimates the cost function of container terminal operators and identifies the efficiency of container terminals using stochastic cost frontier (SCF) in the first stage. In the second step, the SCF results are compared with the data envelopment analysis (DEA). Last, this paper proposes efficiency determinants on container terminal operation to establish appropriate strategies. Out of the 29 container terminal operators in South Korea, 13 operators participated in the survey. The translog cost function was estimated utilizing a total of 116 observations collected over the 2007-2017 period. Findings - Empirical analysis shows that economies of scale exist in Korea's container ports, which provides a rationale for the government's policy to establish the global terminal operator by integrating small terminal operators to enhance competitiveness. In addition, as a result of the determinants analysis, container throughput, weight of direct employment costs, and labour cost share have positive effects on improving cost efficiency, while inefficiency increases as the length of quay increases. More specifically, cost efficiency improves as the proportion of direct employment costs to outsourcing service costs increases. Originality/value - This study contributes to analyzing the inefficiency factors of container terminals through efficiency analysis with respect to a cost function. In addition, this study proposes the practical and political implications, such as establishing a long-term manpower pool, the application of the hybrid liner terminal system, and the construction of a statistical data system, to improve the cost inefficiency of terminal operators.

• 농촌지도와개발
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• 제23권2호
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• pp.145-156
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• 2016

The purpose of this study is to analyze the farms growing domestic kiwi fruit 'Gold' on their management performance and efficiency in order to reduce the risks involved with introducing new kind of crops for growing, and suggest improvements. First, the result of analysis showed that domestic kiwi fruit 'Gold' growers' income were higher than the average growers due to the fruit's high unit price and productivity. Second, the analysis of management efficiency resulted in scale efficiency having greater impact on inefficiency rather than pure technical efficiency. As for the analysis of technical efficiency, the depreciation costs of agricultural facilities had the greatest influence on its inefficiency. Third, inefficient farms put in excessive inputs across the board, while labor costs(self labor cost + hired labor cost) were the largest factor of optimal inputs according to the models of technical efficiency and pure technical efficiency. Fourth, because of greater reliance on mechanical tools from rising labor costs, there's a need for individual farms to avoid buying farming equipments and instead share the equipments of nearby farms and agricultural cooperatives, or start renting agricultural machines from companies.

• 동력기계공학회지
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• 제10권1호
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• pp.12-18
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• 2006

A three-degree of freedom model of intake system was contrived and investigated in various ways for the purpose of the amelioration of the volumetric efficiency in a low and transient engine speed for a multi cylinder diesel engine. The basic concept beyond this model started from the theory that each degree of freedom model has volumetric efficiency peak as many as its number of the degree of freedom. The volumetric efficiency affects significantly to the engine performance; torque characteristics, fuel economy and emission level. For commercial vehicles and stationary engines, the engine is designed so as to produce their best performance near the normal engine speeds, thus the low engine speed area has a tendency of poor volumetric efficiency. The aim of this study was highlighted on the amelioration of volumetric efficiency of low engine speed area in a multi cylinder diesel engine matched with an additional Helmholtz resonator. By the use of VIS(variable induction system) volumetric efficiency at low engine speed range was significantly improved. The availability of control by combination of VIS and CIS(conventional induction system) will be proposed as a variable induction system that would be an appropriate model for amelioration of the volumetric efficiency at low engine speed.

• 산업경영시스템학회지
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• 제41권4호
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• pp.81-90
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• 2018

Modern investment theory has empirically proved that stock returns can be explained by several factors such as market risk, firm size, and book-to-market ratio. Other unknown factors affecting stock returns are also believed to still exist yet to be found. We believe that one of such factors is the operational efficiency of firms in transforming inputs to outputs, considering the fact that operations is a fundamental and primary function of any type of businesses. To support this belief, this study intends to empirically study the relationship between firm efficiency and stock price performance. Firm efficiency is measured using data envelopment analysis (DEA) with inputs and outputs obtained from financial statements. We employ cross-efficiency evaluation to enhance the discrimination power of DEA with a secondary objective function of aggressive formulation. Using the CAPM-based performance regression model, we test the performance of equally weighted portfolios of different sizes selected based upon DEA cross-efficiency scores along with a buy & hold trading strategy. For the empirical test, we collect financial data of domestic firms listed in KOSPI over the period of 2000~2016 from well-known financial databases. As a result, we find that the porfolios with highly efficient firms included outperform the benchmark market portfolio after controlling for the market risk, which indicates that firm efficiency plays a important role in explaining stock returns.

• 융합경영연구
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• 제9권3호
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• pp.11-21
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• 2021

Purpose: The purpose of this study is to understand the status quo of production efficiency in private industrial enterprises above designated scale in China's 31 provinces (including municipalities directly under the central government, autonomous regions) (hereinafter referred to as China's 31 provinces). Research design, data and methodology: Find out the factors affecting the development of production efficiency in private industrial enterprises, using DEA, Data Envelopment Analysis and Malmquist index analysis, build the evaluation model of production efficiency in private industrial enterprises, and analyze the data of China's 31 provinces private industrial enterprises in 2015-2019. Results: The research results show that the production efficiency of private industrial enterprises in China is improving on the whole. Although the total factor productivity has decreased slightly, the overall efficiency and pure technical efficiency have increased significantly. Conclusions: The conclusion of this study can provide reference for Chinese private industrial enterprises to improve production efficiency and make development plan. The limitation of this paper lies in the fact that the private industrial enterprises in inefficient provinces have not been given specific improvement plans.

• 동아시아경상학회지
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• 제9권1호
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• pp.41-51
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• 2021

Purpose - The purpose of this study is to propose strategies of improving efficiency of 20 listed port companies in China based on analysis of their input-output indexes from 2014 to 2018. Research design, data, and methodology - In this paper, the relevant input-output indicators of 20 listed port companies in China from 2014 to 2018 were adopted. Data derived from the company annual reports announced by Shanghai stock exchange and Shenzhen stock exchange. Comprehensive efficiency and pure technical efficiency were measured from output perspective by DEA and Malmquist index, and efficiency changes and regional efficiency were analyzed. Result - The results showed that the efficiency value of 20 listed port companies in China fluctuated and increased during 2014-2018, regional efficiency was unbalanced, and change of MPI was influenced by internal factors and external factors. Listed port companies affected by internal and external factors needed to make appropriate response to internal and external factors. Conclusion - The research conclusion can provide important reference information about management and planning for port companies in China and related areas. However, this paper is limited to the availability of data. So the improvement scheme for listed companies in inefficient regional ports needs further study, such as using AHP method.

• 한국항공운항학회지
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• 제30권4호
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• pp.23-32
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• 2022

Prototype UAMs are shown to us in the market. When the complete product is delivered to market, the efficiency of each UAMs can be compared by default. Before the complete product is shown to us, the comparative study on efficiency of UAMs is performed under the product cost estimation. The efficiency analysis result reveals that both of Lift & Cruise type and vectored thrust type show good efficiency at the initial stage of product. At the near terms stage, five years later from initial stage end, efficiency gets some change. Vectored thrust type of UAMs show best efficiency at the near term stage of product. Because UAMs will be used in urban area, Seoul is the place where the UAMs will be used first. The flying route from Seoul City Hall to Yongsan Park, National Assembly in Yeouido, and City Airport is no more than 10 km distance. For this short distance route, efficiency will make multi-rotor type UAM be prefered to other types. For long distance route or commuting route, life & cruise type and vectored thrust type of UAMs will be prefered on account of operational efficiency.

• 한국태양에너지학회 논문집
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• 제32권2호
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• pp.19-27
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• 2012

This paper describes an experimental study on efficiency of solar collector in solar water heating system connected to hourly water heating load. In general, the functional form of solar efficiency is expressed as a function of fluid temperature entering solar collector, ambient temperature, and solar irradiance. When energy saving from solar heating of water heating system is analyzed on along-term basis such as one year with given solar irradiance data, simplified analysis is more convenient han detailed system simulation for quick assessment. However, the functional form of the efficiency is not convenient for approximately simplified energy analysis because the inlet temperature can be obtained through a detailed system simulation. In the study, solar collector efficiency is obtained with various daily water heating load sand daily solar irradiance using experimental tests. The study also considers large residential buildings such as apartment buildings for application of solar water heating systems. From test results, it is found that daily solar collector efficiency is proportional to daily water heating loads and daily solar irradiance. The data obtained from the study can be utilized to find a functional relation between daily solar irradiance and daily heating load in stead of collector inlet temperature for application of solar collector efficiency to long-term approximated energy analysis of solar heating system.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2011년도 춘계학술대회 논문집
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• pp.1313-1320
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• 2011

World Business Council for Sustainable Development(WBCSD) is effort to achieve sustainable development in economic growth, environmental preservation and social development. Being this way, it is essential for developing evaluation tool which quantify to fulfill sustainable development. Eco-efficiency is one of the quantitative tools to evaluate environmental impact and economic aspect. Eco-efficiency, in general term, means creating more value of product or services with less impact to environment. It indicates as environmental impact in denominator and value of product or services in numerator. Eco-efficiency shows how much economic value reveals to unit environmental impact caused by product or service as an indicator. This study aims at developing eco-efficiency indicator of railway industry considering use stage among the entire life cycle stage of KTX and Saemaul train and also, figure out eco-efficiency value through indicator. Therethrough, it is enables to evaluate created value per environmental aspects. Since rail vehicles demands a lot of energy to transport people during use stage, the environmental impact is more significant than other lkfe cycle stages. Therefore, it quantified environmental indicator as CO2 emission and economic indicator as transportation record per a year with an annual income. This study contributes to be used as a tool for quantifying indicator of comparison evaluation in respect of rail vehicle in use stage.

• 대한가정학회지
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• 제50권6호
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• pp.99-117
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• 2012

This study aimed to measure consumer information competency, which indicates consumers' general ability to search and utilize information. The model of this study was constructed in order to identify how consumer information competency influences the efficiency and the effectiveness of external information search. The model was verified with related prior knowledge as a moderator variable in order to understand holistic consumer information search activity. The result of the study is as follows. First, the concept of consumer information competency was constructed with four sub-abilities: define, search, extract, and synthesis & use. The ability of define was the highest, as opposed to the ability of extract, which was the lowest. Second, consumer information competency was lower for women as well as for low family income. The sub-abilities of search and synthesis & use were lower for aging consumers. Third, consumer information competency has positive effects on information search efficiency and effectiveness. Moreover, the efficiency influences the effectiveness positively. Fourth, prior knowledge moderates the effect of consumer information competency to the efficiency. Only for consumers with high knowledge the efficiency has the effect of mediating between consumer information competency and the effectiveness.