• Environmental and Resource Economics Review
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• v.19 no.1
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• pp.159-198
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• 2010

The Korean government is planning to introduce the Renewable Portfolio Standard (RPS) system to replace the currently used Feed-in-Tariff (FIT) system which is a subsidy-based mechanism to foster the renewable energy industry. The RPS system is a market-oriented system in which the power companies are obliged to use renewable energy sources to produce electricity by a certain ratio of their production level. They can either produce for themselves or simply purchase the REC (renewable energy certificate) in the market to implement. The objective of this article is to compare the RPS system with the current FIT system in terms of the implementing cost to achieve the policy goal to expand the share of renewable energy m the total power generation. The analysis is conducted using Linear Programming models. The results of this study imply several policy suggestions to successfully introduce the RPS system.

• Journal of Distribution Science
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• v.14 no.10
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• pp.147-152
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• 2016

Purpose - High quality films are affected by both the production stage and various variables such as the size of the movie investment and marketing that changes consumers' perceptions. Consumer preferences should be recognized first to ensure that the movie is successful. If a film is produced without pre-investigation and analysis of consumer demand and taste, the probability of success will be low. This study investigates the balance of production costs, marketing costs, and profits using game theory, suggesting an optimization strategy using the simplex method of linear programming. Research design, data, and methodology - Before the release of the movie, initial demand is assumed to be driven largely by marketing costs. In the next phase, demand is assumed to be driven purely by a movie's production cost and quality, which might also further determine consumer demand. Thus, it is essential to determine how to distribute pure production costs and other costs (marketing) in a limited movie production budget. Moreover, it should be taken into account how to optimally distribute under the assumption that the audience and production company's input resources are limited. This research simplifies the assumptions for large-scale and relatively small-scale movie investments and examines how movie distribution participant profits differ when each cost is invested differently. Results - When first movers or market leaders have to choose both quality and marketing, it has been proven that pursuing a strategy choosing only one is more likely than choosing both. In this situation, market leaders should maximize marketing costs under the premise that market leaders will not lag their quality behind the quality of second movers. Additionally, focusing on movie marketing that produces a quick effect while ceding creative activity to increase movie quality is a natural outcome in the movie distribution environment since a cooperative strategy between market competitors is not feasible. Conclusions - Government film development policy should ignore quality competition between movie production companies and focus on preventing marketing competition. If movie production companies focus on movie production quality improvement then a creative competition would ensue.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.61-72
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• 2020

The purpose of this study is to investigate the determinants of the capital structure of firms operating in a developing economy, Pakistan. The quantile regression method is applied on a sample of 183 non-financial companies listed on the Pakistan Stock Exchange during the period of 2008-2017. Specifically, the empirical analysis focuses on changes in the coefficients of the determinants according to the leverage ratio quantiles of the examined listed firms. The findings show that the capital structure of Pakistan listed firms differs between firms in different quantiles of leverage. These differences are significant with the sign of explanatory variables changes with the level of leverage. The research result found tangibility, profitability and age to be positively related to leverage among listed firms in Pakistan. However, size, liquidity and non-debt tax shield (NDTS) are negatively related to leverage. A firm's growth and risk are found to be insignificant predictors of capital structure in Pakistan listed firms. Moreover, the study also found a significant impact of industry characteristic on leverage. The findings of this study indicate that an individual firm's finance policy needs to be responsive to the firm's characteristics and should match with the different borrowing requirements of listed firms.

• The Journal of Industrial Distribution & Business
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• v.8 no.5
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• pp.87-93
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• 2017

Purpose - This paper investigates whether managerial overconfidence is associated with firm-specific crash risk. Overconfidence leads managers to overestimate the returns of their investment projects, and misperceive negative net present value projects as value creating. They even use voluntary disclosures to convey their optimistic beliefs about the firms' long-term prospects to the stock market. Thus, the overconfidence bias can lead to managerial bad news hoarding behavior. When bad news accumulates and crosses some tipping point, it will come out all at once, resulting in a stock price crash. Research design, data and methodology - 7,385 firm-years used for the main analysis are from the KIS Value database between 2006 and 2013. This database covers KOSPI-listed and KOSDAQ-listed firms in Korea. The proxy for overconfidence is based on excess investment in assets. A residual from the regression of total asset growth on sales growth run by industry-year is used as an independent variable. If a firm has at least one crash week during a year, it is referred to as a high crash risk firm. The dependant variable is a dummy variable that equals 1 if a firm is a high crash risk firm, and zero otherwise. After explaining the relationship between managerial overconfidence and crash risk, the total sample was divided into two sub-samples; chaebol firms and non-chaebol firms. The relation between how I overconfidence and crash risk varies with business group affiliation was investigated. Results - The results showed that managerial overconfidence is positively related to crash risk. Specifically, the coefficient of OVERC is significantly positive, supporting the prediction. The results are strong and robust in non-chaebol firms. Conclusions - The results show that firms with overconfident managers are likely to experience stock price crashes. This study is related to past literature that examines the impact of managerial overconfidence on the stock market. This study contributes to the literature by examining whether overconfidence can explain a firm's future crashes.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.28 no.2
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• pp.211-221
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• 2018

Objectives: The purpose of this study was to identify work-related risk factors associated with upper extremity symptoms among construction workers using the fourth Korean Working Condition Survey(KWCS). Methods: Subjects were 2,724 construction workers selected from 50,007 respondents in the 2014 KWCS. The presence or absence of upper extremity symptoms and work-related risk factors, including individual, physical, and psychosocial factors, were used as variables. A multiple logistic regression analysis was performed in order to evaluate the relationship of the upper extremity symptoms with work-related risk factors. Results: Upper extremity symptoms were significantly associated with: employment type(OR: 1.57, 95% CI: 1.18~2.09); job satisfaction(OR: 2.06, 95% CI: 1.33~3.18); verbal abuse(OR: 2.06, 95% CI: 1.33~3.18); tiring or painful posture(OR: 2.33, 95% CI: 1.73~3.15); carrying or moving heavy loads(OR: 1.68, 95% CI: 1.23~2.24); repetitive hand or arm movement(OR: 1.42, 95% CI: 1.06~1.91) Conclusions: In order to prevent the upper extremity musculoskeletal disease in the construction industry, it is necessary to stabilize employment, enhance job satisfaction, and eliminate violence in the workplace and improve physical work environment.

• Molecular & Cellular Toxicology
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• v.4 no.4
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• pp.360-365
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• 2008

In the last several years, studies on the association of oxidative stress damage with exposure in the work place have been conducted. Xenobiotics create an imbalance of the homeostasis between oxidant molecules and antioxidant defense. By monitoring oxidative stress biomarkers, information was obtained on damages induced by oxidative stress and the toxicity of xenobiotics. In the present study, a Job Exposure Matrix (JEM) was constructed using the data from the Working Environment Measurement (WEM) of painters in the shipyard industry from the past 3 years to assess the exposure status. Additionally, by measuring the concentration of urinary malondialdehyde (MDA), the effect of lipid peroxidation was examined. The subjects consisted of 68 workers who were exposed to mixed organic solvents in the painting process and 25 non-exposure controls. The exposure indices of the exposure groups were significantly different (sprayer: 0.83, touchup: 0.54, assistant: 0.13, P<0.05). The urinary MDA concentration of the exposure group was 48.60${\pm}$ 39.23 ${\mu}mol$/mol creatinine, which was significantly higher than 18.03${\pm}$16.33 ${\mu}mol$/mol creatinine of the control group (P<0.05). From the multiple regression analysis of urinary MDA, the regression coefficient for exposure grade was statistically significant. In future studies, evaluation of the antioxidant levels of subjects should be performed simultaneously with quantitative exposure measurements.

• Environmental and Resource Economics Review
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• v.12 no.2
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• pp.217-244
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• 2003

As energy industry is undergoing a rapid structural changes, economic feasibility analysis based on the conventional discounted cash flow (DCF) method has limitations to incorporate management's flexibilities. We present a real options pricing method (ROPM) which can be applied to an energy sector as an alternative. In order to examine the usefulness of ROPM, this study compares the result of DCF method applied to the investment of cogeneration power plant with that based on the ROPM incorporating the value of real of options inherent in the project. The simulation results show that the value of investment opportunities improves using ROPM compared to that with the conventional DCF methods. Therefore, a specific project which appears to be unprofitable from the conventional point of view could be, actually, an economically feasible one based on ROPM method, when properly incorporating the management's flexibilities inherent in the project.

• Proceedings of the Korean Radioactive Waste Society Conference
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• 2003.11a
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• pp.470-483
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• 2003

As the amount of radioactive waste and related information to be managed are increasing, some organizations are trying or planning to computerize the management on radioactive waste. When we consider that information on safe management of radioactive waste should be used In association with national radioactive waste management project, standardization of data form and its protocol is required. Korea Institute of Nuclear Safety(KINS) will establish and operate nationwide integrated database in order to effectively manage a large amount of information on national radioactive waste. This database allows not only to trace and manage the trend of radioactive waste occurrence and in storage but also to produce reliable analysis results for the quantity accumulated. Consequently, we can provide necessary information for national radioactive waste management policy and related industry's planing. This study explains the database design which is the essential element for information management.

• Convergence Security Journal
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• v.10 no.4
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• pp.69-76
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• 2010

public certification is some kind of electric ID which can prove the valid user, based on open KEY. usually it had been used in the field of government complaint, e-commerce, financial. but recently it expands the its use range through computerization of work process of diversity fields such as e-sports, property, medical industry. because of this reason, importance for user certificate process is gradually rose. The purpose of this paper is looking at the method for user certification of public certificates and draw a way for enforce the user certification process by Vulnerability Analysis. To draw the alternative we study the Authentication Principle and policy structure of public certification system by researching references, has drew the limitation for policy of certification. we provide the guideline to enforce the user certification through conclusion which has been drew from previous step.

• Journal of Radiation Protection and Research
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• v.12 no.1
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• pp.48-53
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• 1987

The manganous sulphate bath method is widely used for measurements of neutron source strength. In this study, the analytical chemistry method based on the argon supported inductively coupled plasmas emission spectrometry was used for examining the impurity contents of domestic $MnSO_4{\cdot}H_2O$ the product of Chemical Industry, to induce $^{55}Mn(n,{\gamma})^{56}$ Mn reactions. From the analytical results, mainly potassium, cobalt, and zinc as well as trace amounts of cadmium, lithium, etc. have turned out to be the relevant impurities absorbing the neutrons, and the fraction of neutrons absorbed by the total impurities was calculated. The value obtained was about 1.37% of the neutrons captured by manganese.