• The Journal of the Korea Contents Association
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• v.16 no.1
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• pp.24-41
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• 2016

Study is about Bit Coin that is electronic cash that is received attention globally in recent. It is increasing domestically that uses bit coin for convenience of micro payment, and also bit coin is possible to exchange each countries' currency. In this point, we searched understanding degree and acceptance of bit coin. Also we applied transformed TAM(Technology Acceptance Model) to search factors that have an effect on consumers' intention to use it. In advance, we analyze features of bit coin, and extract factors through preceding researches for existing electronic cash, because studies for intention to use bit coin are weak in internal and external. First of results is that 'economic efficiency' which is a characteristic variable of bit coin influences 'intention to use,' a dependent variable through 'perceived usefulness,' a parameter. It was investigated that monetary and mental costs that was costed when we use bit coin were less than using other cash. Secondly, 'payment convenience' that is a characteristic variable affects 'intention to use', a dependent variable through 'perceived usefulness,' a parameter. It was measured that problems of inconvenience that include transaction process, cash management time shortage and exchange changes will be solved by using bit coin. Thirdly, 'reliability' that is a perceived risk variable of bit coin has a direct effect on 'intention to use,' a dependent variable. It was investigated that we could achieve purpose of payment because we weren't influenced by breakdown on system by processing distributed database in some computers. Fourthly, 'perceived usefulness,' a parameter of bit coin directly affects 'intention to use,' a dependent variable. Then consumers who want to use bit coin are fascinated bit coin for various usability. Moreover, we want to provide implications to all of finance corporations, companies related electronic cash and bit coin users based on these results.

• The Research Journal of the Costume Culture
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• v.17 no.1
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• pp.177-188
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• 2009

SCM as the important marketing strategy enhance the firm's efficiency and compatibility in global market environment such as global outsourcing. Firms adopted SCM realized the need to evaluate precisely the performance of SCM. In spite of importance of SCM, there was not much intention and research to measure SCM performance in textile fashion industry. Therefore, the purpose of this case study was to measure performance of supply chain management in textile fashion business using BSC(Balanced Score Card) to measure not only financial perspective but also non-financial perspectives such as customer perspective, internal business perspectives, financial perspective, and innovation & learning perspective. The questionnaire developed by the reviews of the literature was adopted for this study. The results of this study showed that SCM performance was enhanced from the point of customer perspective(cost, quality, time, service), financial perspective(cash cycle time, inventory turn over, inventory obsolescence, return on asset, return on investment, capacity utilization), and innovation & learning perspective(cost for human resource management, service for human resources). But there was same performance level regarding internal business perspective(lead time, cost for manufacturing process, product quality control, productive flexibility for time, quantity, and variety). Therefore, we should keep close relationship and two way communication among supply chain members to promote better SCM performance.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.35-40
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• 2022

With the advent of the internet age and the outbreak of COVID-19, many companies have embraced online trade. However, due to the way the cyber economy works, the number of companies engaged in financial fraud by falsifying their transaction amounts and customer numbers has been gradually increasing. The purpose of this study is to analyze financial fraud of companies in the Internet era and to present solutions. Therefore, this study analyzed the financial fraud behavior of Luckin Coffee in China as an example and studied the causes and countermeasures of financial fraud. As a result, it was found that the cause of financial fraud lies in the opacity of cash flows from online transactions. The recommendations proposed by this study is to improve internal control systems in companies, develop risk management system, and establish comprehensive external supervision system

• Journal of Korean Society of Rural Planning
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• v.1 no.2
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• pp.77-92
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• 1995

The initiative to determine farmland use has been transferred to local side under the decentralized government system in Korea. New Land Act and Rural Development Act support it. Changes in external and internal environments of Korean agriculture require to diversify farmland use. Lpcal development plan may be implemented when specific farmland use plan is prepared. However, (armland use planning has not been prepared by the local governments yet. This study aims to identify problems encountered in current farmland use and suggest directions of effective and reasonable farmland use planning relevant to local conditions. Questionnaire method was used to prove topographical differences of community land demand, Statistical analyses show that farmers desire to utilize marginal farmland for income increase. Growing grass(42.0%) and cash crops(41.7%) was greatly demanded by them. They were generally eager for developing touristic farm (52.1 % ). By topographical characteristics, the eager was greatest in coastal areas, on the contrary, it was relatively low in mountainous areas. There were more farmers who want to expand their farmland in rice farming(48.4%) or rice-horticulture farming(46.9%) areas. Potential retirer among farmers were most in suburban areas, However, it was expected that there would be the highest retirement rate in rice farming areas because of the high rate of aged farmers. Farmland use planning should be incorporated into food production policies and community people's needs for income increase and life improvement. Agriculture promotion areas must be maintained for scale optimized farming and cash crop farming as much as possible. However, minimum portion for other uses in each village or farming community unit should be adopted. Less favored areas will have to be utilized for both agriculture and non-agriculture uses. Priority can be put into touristic resorts as a non-agriculture use. Furthermore, such areas can be used for sustainable agriculture as well as for residence, industry, animal breeding.

• Management & Information Systems Review
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• v.34 no.2
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• pp.207-227
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• 2015

This study addresses and examines differences in firm value after tax audits by the Korean Internal Revenue Service. Tax audits can potentially depreciate a firm's value due to the mass cash outflow that often results from the additional tax charges involved. However, tax audits that reveal negative aspects of a business, such as excessive entertainment expenses, fraudulent accounting, or inappropriate business practices, may have positive effects on a firm's value, as the monitoring involved can improve accounting transparency and reduce agency costs. This study shows that there is typically an increase in a firm's value in the year after a tax audit has been conducted, in comparison with the previous year. This result suggests that firm value can increase after a tax audit is conducted, despite the possible value depreciation resulting from a mass cash outflow.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.1-17
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• 2021

Private investment projects have the characteristic of generating profits for a long period of 30 to 40 years, and fluctuations in profits and costs occur over time, so the interaction of variables over time rather than statistical models or discounted cash flows If the system dynamics technique, which enables simulation of the system, is used, it is considered that meaningful simulation results can be derived for internal and external variables. In other words, by establishing a financial feasibility comparison/verification model based on system dynamics for private investment projects in the port sector that have not been attempted before, we compare the differences with the existing cash flow discount method, macroeconomic factors, operating period, social discount rate We will conduct a differentiated study that has not been tried before by simulating how the interrelationships of such variables affect the change in financial performance.

• New & Renewable Energy
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• v.16 no.4
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• pp.65-75
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• 2020

The value of tangible assets depreciates over their useful life and this depreciation should be adequately reflected in any tax or financial reports. However, the method used to calculate depreciation can impact the financial performance of solar projects due to the time value of money. Korean tax law stipulates only one method for calculating the depreciation of solar photovoltaic facilities: the straight-line method. Conversely, USA's tax law accepts other depreciation methods as solar incentives, including the modified accelerated cost recovery system (MACRS) and Bonus depreciation method. This paper compares different depreciation methods in the financial analysis of a 10 MW solar system to determine their effect on the financial results. When depreciation was calculated utilizing the MACRS and Bonus depreciation method, the internal rate of return (IRR) was 10.9% and 16.4% higher, respectively, than when the Korean straight-line depreciation method was used. Additionally, the increased IRR resulting from the use of the two US methods resulted in a 20.5% and 27.4% higher net present value, respectively. This shows that changing the depreciation calculation method can redistribute the tax amount during the project period, thereby increasing the discounted cash flow of the solar project. In addition to increasing profitability, USA's depreciation methods alleviate the uncertainty of solar projects and provide more flexibility in project financing than the Korean method. These results strongly suggest that Korean tax law could greatly benefit from adopting USA's depreciation methods as an effective incentive scheme.

• Journal of The Korean Society of Agricultural Engineers
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• v.47 no.2
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• pp.45-52
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• 2005

Biomass is one of the most competitive renewable energy resource and can be used for heating for rural applications. A economic assessment was made of biomass heating, using the tool BIOH2000 from $RETScreen^{\circledR}$ International Clean Energy Decision Support Centre. For a 260kW heating system for 50 farm houses, the assessment showed a very promising results. Internal rate of return was $19.7\%$ and year-to-positive cash flow was 5.1 years. Relative price of biomass over fossil fuel significantly affected the economic feasibility of the project. Heating demand was directly related to annual demand of biomass and economic feasibility. Relative cost of distribution pipe over the total initial costs also affected the economic feasibility of the project. The economic feasibility was expected to be improved by the probable greenhouse emission reduction credit and reduction of initial costs through utilizing existing heating system for peak or back up heating system.

• Journal of Digital Convergence
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• v.15 no.2
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• pp.121-133
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• 2017

The propose of study is to examine the characteristics of companies with high possibility to form an internal control weakness using forecasting model. This study use the actual listed/unlisted companies' data from K_financial institution. The first conclusion is that discriminant model is more valid than logit model to predict internal control weak companies. A discriminant model for predicting the vulnerability of internal control has high classification accuracy and has low the Type II error that is incorrectly classifying vulnerable companies to normal companies. The second conclusion is that the characteristic of weak internal control companies have a low credit rating, low asset soundness assessment, high delinquency rates, lower operating cash flow, high debt ratios, and minus operating profit to the net sales ratio. As not only a case of listed companies but unlisted companies which did not occur in previous studies are extended in this study, research results including the forecasting model can be used as a predictive tool of financial institutions predicting companies with high potential internal control weakness to prevent asset losses.

• ETRI Journal
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• v.25 no.4
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• pp.258-265
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• 2003

In our study, we extracted the market, finance, and government factors determining R&D investment of individual firms in the IT industry in Korea. We collected the financial data of 515 individual firms belonging to IT and non-IT industries between 1980 and 1999 from the Korea Investors Service's database and investigated the empirical relationship between the factors using an ordinary regression model, a fixed effects model, and a random effects model. The main findings of our study are as follows: i) The Herfindahl Index variable representing the degree of market concentration is statistically insignificant in explaining R&D expenditures in the IT manufacturing industry. ii) Assets, which is used as a proxy variable for firm size, have a positive and statistically significant coefficient. These two results suggest that the Schumpeterian Hypothesis may be only partially applied to the IT manufacturing industry in Korea. iii) The dividend variable has a negative value and is statistically significant, indicating that a tendency of high dividends can restrict the internal cash flow for R&D investment. iv) The sales variable representing growth potential shows a positive coefficient. v) The subsidy as a proxy variable for governmental R&D promotion policies is positively correlated with R&D expenditure. This suggests that government policy has played a significant role in promoting R&D activities of IT firms in Korea since 1980. vi) Using a dummy variable, we verified that firms reduced their R&D investments to secure sufficient liquidity under the restructuring pressure during Korea's 1998 and 1999 economic crisis.