• Journal of Korea Technology Innovation Society
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• v.16 no.3
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• pp.724-753
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• 2013

This paper empirically examines the effects of green technology patent on the financial performance of SMEs and venture specialized green enterprises. In particular, this paper is focused on analysing the financial performance difference by comparing the financial condition of 1st year before and 1st year after the application of green technology patent, and the one of 1st year before and 2nd year after it using sales, operating profit, net income, ratio of operating profit to net sales, and ratio of net profit to net sales. The statistical significances were accepted on sales after 1st and 2nd year, operating profit and ratio of net profit to net sales after 1st year, and ratio of operating profit to net sales after 2nd year. This paper proposes the vitalization of green consumption market, the reinforcement of green financial policy, the installation of financing windows, the improvement of unfair business conducts of large enterprises, and the reinforcement of win-win partnership between large enterpsises and SMEs as policy issues of Korean government in order to promote SMEs and venture specialized green enterprises.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.73
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• pp.21-42
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• 2017

A BPO is an irrevocable undertaking given by an Obligor Bank acting on behalf of the buyer to a Recipient Bank acting on behalf of the seller to pay on satisfaction of certain specified conditions. There have been a Trade Service Utility(TSU), a Transaction Matching Application(TMA) and ISO 20022 TSMT messages that core electronic technical systems linked to the BPO. As a key usefulness of the BPO, it brings to market an alternative means of satisfying the risk mitigation, financing and information management needs of banks and businesses engaged in trade. That is, corporates can spread the risk among multiple Obligor Banks by requesting multiple BPOs for the same trade transaction not to exceed the value of the initial transaction. Since the BPO replaces the manual document checking process with the electronic matching of data, buyers and sellers will benefit from significantly increased accuracy and objectivity. By using BPO, buyers and sellers can become trusted counterparties by demonstrating reliability and giving sellers the assurance of being paid on time as per the payment terms and conditions agreed. When compared to L/C, the BPO requires submission of data only. This requires a change of practice of those accustomed to dealing with physical documentation. The beneficiary of a BPO is the Recipient Bank which is always the Seller's Bank. In the meantime, banks will need to agree between themselves that the URBPO 750 will be applied, modified or excluded. However, customers of banks will face low transactional costs due to a fully automated process and standardized data formats used in international trade documentation. There is no amendment and cancellation rules in the URBPO 750s, but only have Assignment of Proceeds rules. As a result, the BPO is likely to enable new business opportunities, lower costs, fast transaction process and strengthen key customer relationships.

• Smart Media Journal
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• v.6 no.4
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• pp.94-100
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• 2017

Procurement of development funds is a very difficult process in the Korean game industry where competition is fierce. Recently, crowdfunding has been used as a convenient platform to attract potential investors to secure the development cost of the game. This study explored the factors influencing the success of crowdfunding for game development projects. We collected data on 229 game development projects in Tumblebuck, a reward-based crowdfunding site in Korea. According to the results of the logistic regression model, the factors that have a positive effect on the success of funding are the average compensation amount relative to the target amount, the number of SNS shares, the number of updates, and the originality of the proposed game. Video playback time has been found to have a negative impact. Based on the results of this study, it is expected that planning a game development project considering the variables affecting the success of crowdfunding will help financing.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.4 no.5
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• pp.15-26
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• 1981

While one characteristic of modern enterprises is that their forms are mostly stock company type profit organization the other characteristic is that such modern enterprises have mostly been managing under separation between capital and management. The term "Separation of ownership and Management" means that a company is controlled and managed not by its financier or investor but by the professional manager equipped with scientific management skill and knowledge. Nowadays, separation between capital and management could be adopted by advent of professional managers, and the enterprises are managed not exclusively by the interested group of stockholders but by the professional managers Professional managers can manage their enterprises in such a way as to guarantee to achieve sociality and public interests required in the modern enterprises. The purpose of this study is to formalize management ideology of enterprises in Daegu Area by means of comparative study on the degree of separation of ownership and management among enterprises in the United States, Japan and Daegu Area, thus to advise enterprising men of management idea-logy formalized. Findings from the comparative study are as follows 1. There are differences in staffing and financing between enterprises of the United States and those of Japan and Daegu Area. 2. Degree of Separation of ownership and management in Japan and Daegu Area is much less than that of the United States, and 3. The degree of separation of ownership and management is higher in open enterprises in Daegu Area. Accordingly. enterprises in Daegu Area should adopt up-to-data management theory and techniques in order to be developed themselves, and furthermore, to contribute to both the nation and the local community in economic development. In modern industrial society, the scale enterprise organization is growing very rapidly and the managerial circumstances are very much complicate and variable , thus the demand for the competent managers equipped with management knowledge and ability are high. The necessity of systematic and efficient managerial training is social demand needed urgently in modern industrial society. Therefore, it is necessary for the enterprising men in Daegu Area to establish cooperation system between university and industry in which they can participate voluntarily.luntarily.

• The Korean Journal of Financial Management
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• v.25 no.2
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• pp.137-164
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• 2008

This paper examines the operating performance of firms that for a four-year period, held more than 15% of their assets in cash and cash equivalents. During next four years, operating performance of firms maintaining high cash persistently is greater than the performance of firms matched by size and industry or firms adopting transitory high cash policy. Furthermore, the effect of persistent cash holdings on operating performance depends on the ownership structure and the level of information asymmetry. Foreign investors deteriorate the operating performance of high cash firms, suggesting that potential M&A and the pressure of excessive dividend reduce the usefulness of cash. The level of information asymmetry enhances the operating performance for the firms adopting persistent high cash policy. It suggests that cash holdings reduce the costly external financing and underinvestment problem for firms with high information asymmetry.

• Journal of the Korea Institute of Building Construction
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• v.11 no.3
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• pp.221-228
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• 2011

This study is on the development of a System Dynamics Model for business feasibility analysis of an apartment house development project. In this study, we analyzed other apartment development projects and research projects, and identified the cash flow items, which consist of revenue and expenditure items. In addition, we made efforts to find the influence relationship among these using the system thinking method and developed a system dynamics model. In order to test the model, a case study was conducted in which it was applied to an apartment development project. Vensim, a System Dynamics Modeling and simulation software package was used to analyze and test the model. The model suggested in this study can help a developer to make decisions on project financing at the initial stage of an apartment house development project.

• Journal of the Korean association of regional geographers
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• v.12 no.5
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• pp.595-613
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• 2006

In the debates of development gains, the general rule is that it results from actions other than those of the landowner, most notably of the public sector as in granting of permissions for the development of specific land uses and densities or through infrastructure investments, or of socio-economic forces due to a general capital accumulation in space. A huge academic literature has investigated the development gains capture that refers to the process by which a portion of or all land value increments attributed to the community effort are recouped by the public sector. Policy instruments for applying development gains capture are based on deepening land value taxation, financing infrastructure, controling land use. But one of the most basic for the efficient policy implementation is the accurate estimation of development gains. This paper estimates the development gains generated by the total 204 building land projects of Korea Land Corporation and Korea National Housing Corporation since 1995.

• Korean Journal of Construction Engineering and Management
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• v.14 no.1
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• pp.43-51
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• 2013

The changes in business structure of domestic construction companies suggest that there is a close relationship between the volume of overseas project and a company's financial condition. Based on this assumption, this study conducts an empirical analysis on a relationship between overseas project and financial stability of a construction company. The ratio of liquidity and liability was used as liquidity index and stability index respectively. The analysis was based on quarterly time-series data between 2000 and 2010. Two models were constructed for the analysis: Model 1 was based on the liquidity ratio and the amount of domestic and overseas construction project; Model 2 was based on the debt ratio and the amount of domestic and overseas construction project. The analysis results showed that the increasing amount of overseas project facilitated short-term financing with greater liquidity, and yet it was not very effective in lowering the debt ratio. This suggests that the dramatic increase in overseas construction project, which is observed recently, is not entirely an optimistic sign.

• KDI Journal of Economic Policy
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• v.27 no.2
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• pp.45-87
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• 2005

This study attempts to provide a basis of selecting policy directions by empirically analyzing the effect of policy lending programs for SMEs in Korea using micro firm-level data and examining whether the programs contribute to improving the performance of SMEs and thus effectively carry out their missions. From the estimations using Ashenfelter(1978)'s approach, the evidence of differences in profitability enhancement between the benefited group and the never-benefited group could not be found in most cases. In addition, the estimations show that the policy lending program had stronger profit enhancing effects on the young SME group for the year that the program was applied, and indicate that the policy lending program might be the factor that makes the 'older' benefited SMEs to become addicted to the government policy and thus hinder them in their development to become more competitive and innovative. These results suggest that, when the programs are needed to support SMEs' financing, it is more effective to target the start-up companies or SMEs in their early stages rather than old SMEs.

• Journal of Family Resource Management and Policy Review
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• v.21 no.1
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• pp.45-63
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• 2017

The purpose of this study was to emphasize the household financial education as a part of family life education, especially when provided at local community level; it also examines diverse measures by which to deliver such education. To this end, the current study focuses on the education programs of a healthy family support center, which has been established as a representative transmission system. The current status of its operations was examined, and practical measures by which to stimulate the delivery of financial education within that center were derived. In more detail, previous studies inside and outside of Korea were examined, and the current status of financial education included in the area of family life education was assessed; as a result of these assessments, the definition and objectives of financial education as family life education were adjusted. The limits of financial education that has been delivered thus far were reviewed, with the aim of proposing measures by which to sufficiently stimulate the delivery of financial education programs-programs that ultimately reflect the healthy family philosophy. This study proposes four specific measures by which to stimulate financial education. The first is the application of 'life cycle perspectives' to educational terms. The second is the activation of financial education programs that involve the family unit as educational subjects. Third, the delivery of lectures which related to the financing and nurturing of program coordinators was proposed. The fourth is drawing a connection between online and offline education in terms of effectively applying teaching methods. Ultimately, the results of this study can be used as basic data to inform the planning, development, and operational stages of financial education programs within family life education, which can be performed in healthy family support centers in the future.