• Journal of the Korea Management Engineers Society
• /
• v.23 no.4
• /
• pp.105-123
• /
• 2018

The purpose of this study is to verify whether the technology grade, which is the result of technology appraisal by Technology Credit Bureau, can be extended and applied to the venture certification system. We confirmed that there was a significant difference in the average financial performance for three years after the certification and appraisal of the two groups after matching the venture certification enterprise group and the technology appraisal enterprise group in 2015 through the propensity score matching method. As a result, there was no significant difference in the financial performance of venture certified firms and technology appraisal firms, so we confirmed that the technology grade can be expanded and applied to the venture certification system. As a result of estimating the technology grade conforming to the venture certification system, it was concluded that technology outstanding firm(T1-T4) is a technology grade suitable for the venture certification system.

• The Journal of Asian Finance, Economics and Business
• /
• v.9 no.6
• /
• pp.175-181
• /
• 2022

Malmendier and Tate (2005) and Aktas et al. (2019) suggested that overconfident managers will invest if they have sufficient internal funds. Still, they will save internal funds instead of reducing investment if they have insufficient internal funds because they perceive more substantial financial constraints than other managers. This study examines whether overconfident managers will not invest when the financial crisis makes it difficult to raise external funds. In particular, during the financial crisis in Japan, banks simultaneously provided active monitoring and financing to firms with strong relationships with banks. Therefore, this study can also examine the relationship between overconfident managers and bank behavior by focusing on Japanese firms. This study examines whether overconfident managers increase their investment in firms with strong relationships with banks during the financial crisis. The results of this study showed that overconfident managers, especially their firms with strong relationships with banks, reduce investments more than other managers during the financial crisis. This study suggests that Japanese banks reduced financial constraints and exerted strong corporate governance on Japanese firms during the financial crisis.

• International conference on construction engineering and project management
• /
• 2009.05a
• /
• pp.32-39
• /
• 2009

"We need to overcome the lack of space and infrastructure." Construction in the 20th century had been basically motivated by this need. It had enabled almost automatic financing on land as well as plenty of public investment. However we cannot expect such investment in built environment any more in the 21st century, when urban structures have been fully built. "We have space and infrastructures but want to make them better." We must find the new way how to strategically organize creativity on use as well as such users' want itself for sustaining investment in built environment. In this paper the outline of such a new way is discussed.

• International conference on construction engineering and project management
• /
• 2015.10a
• /
• pp.122-126
• /
• 2015

Credit enhancement is absolutely essential for financing Independent Power Producer (IPP) projects in Asia particularly for countries whose sovereign credit rating is on non-investment grade and foreign investment is difficult to achieve. Due to nexus of agreements among varies parties in IPP project, it is hard to clearly visualize the roles of these agreements. Examples are: What credit enhancement factors are most influential to minimize the associated risks of IPP projects? Why are they powerful? What are their roles? Who are less powerful and what are the obstacles that causes them less powerful? A research is conducted to identify the credit enhancement factors for IPP projects in Asia. IPP professionals validated 27 out of 28 identified credit enhancement factors, and five factor groupings were made through factor analysis. Afterwards, network theory is applied to find the unanswered questions, which by graphical and mathematical representations show that the host government's credit enhancement, MDBs, ECAs and other parties' credit enhancement are prominent and of great importance to handle the associated risks of IPP projects in Asia

• International conference on construction engineering and project management
• /
• 2011.02a
• /
• pp.395-398
• /
• 2011

This paper introduces stochastic cash-flow modeling integrated with simulation based scheduling. The system makes use of CPM schedule data exported from commercial scheduling software, computes the best fit probability distribution functions (PDFs) of historical activity durations, assigns the PDFs identified to respective activities, simulates the schedule network, computes the deterministic and stochastic project cash-flows, plots the corresponding cash flow diagrams, and estimates the best fit PDFs of overdraft and net profit of a project. It analyzes the effect of different distributions of activity durations on the distribution of overdrafts and net profits, and improves reliability compared to deterministic cash flow analysis.

• New & Renewable Energy
• /
• v.20 no.1
• /
• pp.15-25
• /
• 2024

This study analyzes the economic feasibility of agrivoltaics in South Korea. The key findings are as follows. It was ascertained that an amendment to the Farmland Act, which currently has an 8-year permit period, is necessary to ensure the economic feasibility of agrivoltaic projects. Furthermore, economic feasibility improves when agrivoltaic projects are financed, as against cases without financing. Furthermore, the availability of low-interest loans through financial support programs significantly enhances economic feasibility. Scaling up projects leads to cost savings due to economies of scale, while community-based agrivoltaic initiatives generate higher revenue through the acquisition of additional Renewable Energy Certificates. These factors can help improve the economic feasibility of agrivoltaic projects. These incentives are emphasized as they can serve as a source of funding to foster community acceptance of agrivoltaic projects.

• KDI Journal of Economic Policy
• /
• v.28 no.1
• /
• pp.117-144
• /
• 2006

This study is to analyze the existence of the real buffer effect that reflects the effect of beginning-of-period inventory stocks effect on the demand for fixed investment, and the financial buffer effect indicates the substitution effect between end-of-period inventory stock and the source of financing for fixed investment. I use panel data of 361 Korean listed non-financial firms during 1990-2003. After the crisis, it also observed whether the relationship between inventory stocks and fixed investment has altered or not. I review the theoretical connection between inventory stock and fixed investment through the paper by Bo(2004) and estimate the investment model by the method of GMM-SYS. The results show negative relation between end-of-period inventory stock and fixed investment in the whole period and each period classified, also it confirms that the relation between fixed investment and end-of-period investment is significantly negative. It can be interpreted through two aspects that firms not only use inventory stock as a buffer in response to unexpectedly high demand, but also utilize inventory stock as a source of financing for fixed investment. The results imply that firm's decision-making is much correlated with production-and-inventory stock adjustment, decision-making about fixed investment, and decision-making about financial affairs.

• Journal of Digital Contents Society
• /
• v.8 no.2
• /
• pp.157-163
• /
• 2007

Informative contents Industry shows stable capital structure, excellent profit index high growth rate and high productivity on the average in step with the evolution of digital technology, but it shows the aggravating trend gradually in almost all the indexes. It is because the enlargement of supply market proceeds so faster than the increase of market demand that the competition is intensified and relatively easy to advance into the market according to the development of informative contents industry. The exploitation of new market and the reclamation of new technology are needed to contrive the continuous prosperity of informative contents industry, and to achieve this, it is needed to support from politic financing and taxation politic aspect.

• Bulletin of the Korea Photovoltaic Society
• /
• v.6 no.1
• /
• pp.21-34
• /
• 2020

Sri Lanka has strongly understood the importance of mitigation of climate change and various measures have been taken. To tackle the climate change, after ratifying Paris Agreement, Sri Lanka has pledged to reduce her greenhouse gas emission in the energy sector by 20% (16% unconditional and 4% conditional) by 2030 based on the BAU scenario. Simultaneously, the government introduced its new energy policy and strategies in 2019 with a vision of achieving carbon neutrality by 2050. This paper survey related key government documents, policies, reports, and academic articles to investigate opportunities for the private sector to invest large scale solar power deployment (10 MW or above) and to get support from climate finance under article 6 of the Paris Agreement. It has found, growing concern on the environment, energy security issues and increase import expenses for fossil fuels are the main influencing factors to move renewable sources. Further, government investment and FDI both have gradually decreased in the energy sector. Therefore, an alternative financing mechanism is needed. Although the private sector allowed investing in the energy sector since 1996 with the introduction of IPP (Independent Power Producers), it could not make considerable progress on involving large scale solar utility projects. This has revealed government policy is not aligning with the long term generation plan of the electricity sector. The study has also found, it needs more strategic road map, coordination with different institutions, monitoring system to enhance large scale solar contribution.

• The Journal of Society for e-Business Studies
• /
• v.7 no.1
• /
• pp.187-206
• /
• 2002

The purpose of this study is to review the process for the trade settlement system between all parties involved in the commercial transaction under SURF System. SURF application is the latest value added service from bolero.net and a fully automated documentary settlement system. It extends bolero.net's capability to enable trade transactions by providing a delivery versus payment system. It has been designed as a standard, shared, infrastructure component for handling trade settlement within an electronic environment to keep step with the operation of electronic Bolero bill of Lading. It exploits the services provided by the Bolero Core Messaging Platform - secure, guaranteed transactions based on boleroXML standards to provide document compliance services with optional bank guarantees. So, SURF system can automatically check all commonly used trade documents such as commercial invoices, bills of lading and certificates of weight and analysis, etc and supports a full range of settlement options including Open Account, Documentary Collections, Documentary Credit. 58 have key features as follows, ① automatic document compliance checking, ② integrated with the Title Registry, ③ supports various forms of vender financing, ④ governed by a set of legally binding rules, ⑤ fully prepared for Straight-Through-Processing, ⑥ Enabled compliance with UCP 500.