• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.121-132
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• 2022

The uncertainty regarding inventory may impart dynamic impacts on corporate-level financial decisions. Among others, a decision about capital investment is a crucial decision that requires overall financial stability. Following these theoretical notions, the current study aims to identify possible consequences of inventory volatility relating to corporate capital investment decisions. We employed ten years of data (2010-2019) of non-financial sector firms to achieve the objective. The Driscoll-Kraay model was used to quantify the regression. The statistical results imply that inventory volatility negatively influences capital investment decisions due to information asymmetry about the current financial position. Additionally, more volatility brings discrepancies in managers' investing decisions to fulfill the possible demand options of capital investment that require processing the inventory. However, based upon the statistical findings, it is suggested to corporate managers that they should consider the financial sensitivity of enterprises regarding inventory volatility. Thus, the current study introduces new thoughts regarding inventory volatility and its empirical role in determining capital investment.

• 기술혁신학회지
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• 제13권3호
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• pp.538-557
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• 2010

정부는 1980년대부터 다양한 형태의 기술금융을 중소기업에 지원하고 있다. 기업에게 기술금융을 지원하는 형태로는 R&D 출연보조, 융자, 출자 그리고 보증방식이 있다. 본 연구는 정부의 기술금융 지원방식 중 출자형태의 신성장동력투자펀드 활성화를 위한 개선방안을 다음과 같이 제시하였다. 첫째, 업무집행사원이 자본시장에서 자금을 조달할 수 있는 충분한 시간을 주기 위해 펀드 결성기한을 현행 3개월에서 6개월 이내로 늘려야 한다. 둘째, 업무집행사원의 모럴해저드 문제를 야기 시키는 정부의 우선손실충당제도 배제를 현행처럼 계속 유지해야 한다. 셋째, 글로벌 기술기업의 창출, 육성 및 투자기업 가치제고라는 정책적 목적 달성을 위해 신성장동력투자펀드에 대한 정부의 출자비율 제한을 현행 20%에서 30%까지 확대하여 자본시장 상황에 따라 탄력적으로 출자하여야 한다. 마지막으로, 업무집행사원은 수익실현이 가능성을 높일 수 있는 투자계획의 구체화를 통해 대형 기관투자자를 상대로 적극적인 홍보를 강화하여야 한다.

• Journal of Korea Trade
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• 제26권5호
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• pp.1-22
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• 2022

Purpose - This study aims to analyze the influence of South Korea's outward foreign direct investment (OFDI) under the effect of both multinational enterprises' (MNEs) investment motivation and host country institutions. Some suggestions are put forward with regard to South Korean MNEs participating in and integrating into the fierce and changeable world of international market competition. Design/methodology - The basic hypotheses are that MNEs' investment motivations and the host country's superior institutions both boost South Korea's OFDI in those host countries. South Korea's OFDI is divided into investment choice stage and investment scale stage. A Heckman two-stage selection model is established for empirical analysis, using the panel data of South Korea's OFDI and related variables, from 2002 to 2019. Findings - (1) The influence on the investment scale of South Korea's OFDI is more regular and noteworthy than the influence on investment choice. (2) In the investment scale stage, there are obvious motivations to seek markets, labor force and superior technology, but not natural resources. (3) In the investment scale stage, the South Korea's OFDI is more obviously attracted by the host country's superior political institutions, economic institutions and legal institutions, but not cultural institutions. Originality/value - The choices of variables and uses of model expand the theoretical basis and empirical method of OFDI research. The results of the empirical study also provide some reference for the transnational investment of South Korean MNEs and the investment policy formulation of the South Korean government.

• 의료법학
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• 제7권2호
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• pp.311-330
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• 2006

As issues of education, employment and so on, the medical issue is one of the hot spots of society in China today. The health system reform which was pushed ahead after China's Revolution and open to the outside world hasn't received great progress. Many actual problems haven't been solved, for example it is difficult and expensive to see a doctor. With the development of the economy and society, the citizen's legal consciousness has gradually risen. They make a claim for better medical service. At the same time, the number of the disputes of medical care arises annually. China has sped up the opening of service trade for fulfilling promises of entry the WTO since 2001. China has already opened many service trade fields, including medical field. From the domestic perspective, there are many problems in domestic medical department. From the international perspective, China's present medical level falls behind the world advanced medical level. Under this background, it is a bold act for China to open the medical service field to foreign investors. Today, a huge medical service market is developed in China. However, the government's investment to medical devices and the financing channels is limited. Therefore, it is inevitable that individuals, social organizations and foreign investors invest to the medical market. In view of the situation, Chinese government issued a series of relevant laws and rules. In recent years, many multinational companies, consortiums, charitable institutions, enterprises and individuals establish various medical institutions in China. But there are rare research in the actuality and legal subject of foreign investment to Chinese medical market. Hence, it is necessary to realize the actuality of foreign investment to Chinese medical market, to familiar with the elements and procedure of establishing foreign joint and cooperative medical institution. Meanwhile, analyzing the existing problems and posing the legal subject have important theoretic and practical value.

• 농촌계획
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• 제26권3호
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• pp.57-65
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• 2020

Agricultural research and development (R&D) investment has contributed not only to agriculture but also to the overall economic growth of the country. The recent arrival of the fourth industrial revolution has raised the need for agricultural R&D as a preparation. Agriculture R&D is directly related to the fourth industrial revolution in the agricultural and livestock sectors that utilize big data, robots, artificial intelligence and cloud. Meanwhile, subsidies or grants are considered the most widely used means of policy. Therefore, in light of the current situation in which Chinese agriculture values R&D investment, this study attempted to analyze the dynamic relationship between variables by establishing a model of agricultural environment subsidy representing the role of government, agricultural technology progress representing existing agricultural R&D investment, agricultural income representing agricultural development and total agricultural output. The analysis results showed that each variable's reaction to the rise in China's agricultural R&D investment has a positive effect on agricultural development, in line with the theory that the investment in science and technology in the agricultural sector has a positive effect. In addition, the response of each variable to China's rising agricultural environment subsidy is shown to have a positive relationship, which can also be said to be in line with the theory that the government's market-friendly intervention is beneficial to economic development.

• 식품과학과 산업
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• 제53권4호
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• pp.410-421
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• 2020

농·식품 분야의 중장기 연구개발 계획 수립과 관련해서, 해외 주요국가의 R&D 정책 및 투자 동향을 파악하여 기초자료로 제공하고자 한다. 해외 주요국의 동향을 살펴본 결과, 선진국을 중심으로 농·식품 분야 R&D에 대한 지속적인 정부 지원과 함께 효율적인 자원관리의 중요성을 강조하고 있다. 미국이나 유럽의 경우 농산업 생산성에 대한 공공투자를 줄이고, 기후변화·식량안보·식품안전·국민건강·자연환경 등의 사회문제 부각에 따라 지속가능성 측면에서 경제와 환경 간의 조화, 인체영양과 건강뿐만 아니라 동식물 건강, 통합적 생태계 접근 등을 강조하고 있다. 특히 식품 분야는 식품안전, 영양과 건강을 중심으로 공공부문이, 식품가공, 제조는 민간부문이 주로 투자하는 편이다. 한편 일본이나 중국의 경우에는 민간투자보다 공공부문에서의 투자가 크게 앞서고 있으며, 정부가 중장기 연구방향을 제시하는 등 연구개발혁신을 주도하는 입장이다. 비록 국가마다 시급한 현안사항과 대응방안이 다르지만, 농·식품 분야 연구개발혁신 및 발전전략의 효율성을 제고하기 위해 공공과 민간의 상호보완적 역할 분담을 바탕으로 긴밀한 협력활동이 이루어지고 있다.

• 한국항해항만학회:학술대회논문집
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• 한국항해항만학회 2022년도 춘계학술대회
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• pp.369-370
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• 2022

우리나라 선박금융은 경기순행적 투자의 성격으로 인해 해운 불황기에는 민간부문의 선박금융이 크게 위축되고 정책금융기관이 선박금융을 주도하는 패턴을 보이고 있다. 한편 정부는 「해운산업 리더국가 실현전략」을 수립('21.6.29)하여 고효율 신규선박 확보 등 지원을 통한 2030년까지의 발전목표를 설정했으며 적정 선대규모 달성을 통한 경쟁력을 확보하기 위해 선박금융 투자를 촉진하고자 한다. 하지만 해운산업에 대한 투자는 그 위험과 불확실한 시황 등으로 인하여 투자 유도가 쉽지 않은 상황으로 이에 정부 차원에서 투자자들의 공동 투자를 유도할 수 있는 세제혜택을 검토할 필요가 있다. 따라서 국내 선박금융 시장의 유동성 Gap 해소 및 해운재건 5개년 계획의 성공적 이행을 위해 한국형 선박 조세리스 제도 도입이 필요하다.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2002년도 학술논문발표회
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• pp.109-113
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• 2002

Urban public service is goods and activities which satisfy public demands for the political, social, economic, cultural activity and household affairs of individual or groups and which urban government supply with free of charge. In view of government, in addition to fairness of facilities location, location of such facilities are to be determined the respect to cost of locating facilities and developmental direction in the future. Therefore, it is necessary to study on feasibility. A feasibility study Is an effective tool in determining the decision of investment or not and the level of investment priority on Projects requiring a sizeable investment and the feasibility of a project. The first, it is to select reasonable location. It was selected four and two by consideration of facilities distribution and connection with others. Six proposal selected was estimated by five element of approach, demand, symbol, reality, environment. In result proposal I was chosen. The next, it is to estimate scales. The finally, it is to study on economical efficiency. Net Present Value was came out ￦4.4billion by 20years and Inter Rate of Return showed up 11%. in addition, it offer various benefit by public facilities. In conclusion, this project is reasonable.

• Asian Journal of Innovation and Policy
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• 제8권3호
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• pp.396-416
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• 2019

The key conditions for the promotion of innovative technology-based start-ups are expanding the market for innovative technology products and services, increasing equity-based funding opportunities, promoting the commercialization of technological innovation, and establishing a fair-trade system for start-ups to compete fairly in the market. Besides, there is a need for a support system that minimizes the cost of failure in case of business failure to facilitate re-challenge and provides education and training opportunities to enhance entrepreneurial capabilities. To activate technology-based start-ups, the Korean government introduced the TIPS policy in 2013. It is a program that creates technology start-up with private investment led by successful venture entrepreneurs, which has shown remarkable achievement and is regarded as the most successful policy in this field up to now. The most critical factor contributed to the success of this program is to invite private investors to select a technology entrepreneurship team and provide mentoring with the investment. The government provides R&D funding with matching investment, commercialization and marketing support to ensure that technology start-ups survive crossing the death-valley. Subsequent investments from domestic and abroad investors are actively made and it is becoming a representative technology-based start-up program in Korea.

• 산업공학
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• 제17권3호
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• pp.269-281
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• 2004

How to maintain the optimal electric power generation mix is one of the important problems in electric power industry. The objective of this study is to develop a computer model which can be used to forecast the investment in power generation unit by the plant owners after restructuring of electric power industry. Restructuring of electric power industry will make difference in decision making process of investment in power generation unit. After Privatiazation of Power Industry, Gencos will think that profit is the most important factor among all others attracting the investment in the industry. Coal power generation is better than LNG CCGT in terms of profit. However, many studies show that LNG CCGT will be main electric power generation source because the rest of factors other than profit in LNG CCGT are superior than Coal power generation. The impacts of the various government policies can be analyzed using the computer model, thus the government can formulate effective policies for achieving the desired electric power generation mix.