• Title/Summary/Keyword: Market Efficiency

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An Analysis of the Determinants of Foreign Direct Investment in the Western China, 1990-2007 (중국 서부지역 외국인직접투자(FDI)의 결정요인에 관한 분석: 1990-2007 기간을 중심으로)

  • Peng, Xian-Feng;Choi, Sung-Il
    • International Area Studies Review
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    • v.15 no.3
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    • pp.471-491
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    • 2011
  • This study is to analyze the determinants of inflow FDI with panel data of 12 provinces in western region of China for the period, 1990-2007, from the perspective of market-oriented FDI and production-efficiency-oriented FDI. The empirical findings are following. First, the empirical results prior to the start of western development program show that the GRDP, the intense of industrialization and university graduates per 10,000 residents have positive coefficient signs at the significant level, while wage level has a negative and significant value. Second the empirical results using the data after the launching of the western development program show that the GRDP, the intense of industrialization have positive relations with FDI, while openness in terms of the ratio of international trade to GRDP and the wage level have negative coefficients. Finally, this thesis finds that the empirical results for both periods are very similar, which suggest that the economic structure in western region has not changed significantly even though almost a decade passed since the western development program launched.

Study on Estimating Economic Risk Cost of Aids to Navigation Accident in Busan Port, Korea using Contingent Valuation Method (조건부가치측정법을 이용한 부산항 항로표지사고에 대한 항행 위험비용의 추정에 관한 연구)

  • Kim, Tae-Goun;Moon, Beom-Sik
    • Journal of Navigation and Port Research
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    • v.42 no.6
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    • pp.478-485
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    • 2018
  • Aids to Navigation (AtoN) is one of the marine traffic safety facilities that promotes the safety of maritime traffic and enhance ship's operational efficiency. However, functional failure of AtoN due to ship's collision or bad weather conditions leads to inconvenience or navigational risk to various users such as the ship operators. For insstance, the largest container port in Korea, Busan Port has experienced a total of 400 AtoN accidents in the past 12 years (2006-2017).Therefore, an average of 20.6 days of recovery time is required, which increases the maritime safety anxiety for AtoN users. is the objective of this study was to present the quantitative support of the users for the prevention of AtoN accidents and the improvement of the feasibility of implementing more efficient management in Korea. A survey was conducted on the users of Busan port areas to investigate general perception of AtoN in general and the accidents that have happened, and to estimate the economic value of navigational risk reduction by implementing effective AtoN management measure. Using the representative non-market valuation method for environmental or public goods known as contingent valuation method (CVM), the economic value granted to users for the AtoN services in Busan port was estimated to at least 16 billion won. Therefore, these finding could be used by AtoN managers and/or policy makers as a valuable data to identify the users' need of various AtoN services including Busan Port and to establish and implement more efficient management plan.

User-Centered Service Design Research on Shared Vehicle for Camping (캠핑용 공유 차량 사용자 중심 서비스 디자인 연구)

  • Hur, Hyun-Woo
    • The Journal of the Korea Contents Association
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    • v.19 no.8
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    • pp.473-482
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    • 2019
  • People's leisure activities have increased due to changes in perception of social life. Camping cars are becoming popular due to the development of camping culture and traveling. However, there are not many users compared to the population of the camper due to the difficulty of economy and usability. Making it not easy to purchase or rent a camping car. Therefore, this study researches on camping service by combining shared services. It is aimed to provide a user centered camping shared service considering usage and economic efficiency. This study analyzed the concept, characteristics and current status of shared service and camping car with reference to domestic, overseas literature and internet data to provide basic data of camping car using shared service. In addition, through case study of shared vehicles, it is possible to grasp the current market. Integrate P2P, B2C, renting company and individuals to derive the design of A2P (All to People)service which connects and shares all. The user can have its own space available at the desired place and time. This study is a camping or unique mobile space service design that can be easily experienced in everyday life. It will reduce the strain of maintaining expenses and also process of pick up, return is freely making user-centered service design. This service design will lead to a diverse range of leisure activities and contribute to the upsweep of the camper industry.

A Study on the Liability Limitation Provision and Firms' Cost Behavior (이사책임감면규정 도입이 기업의 원가형태에 미치는 영향)

  • Rhee, Chang Seop;Woo, Sohee
    • The Journal of the Korea Contents Association
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    • v.19 no.4
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    • pp.423-431
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    • 2019
  • This study examines the effect of the liability limitation provision (LLP) adoption on firm's cost behavior. In April 2011, Korea introduced the LLP with the purpose of improving the management efficiency by mitigating the risks caused by the manager's failure to make decisions related to business operation. However, there are concerns that the adoption of LLP may lead the manager's moral hazard, so the need for empirical research to verify the effect of the LLP adoption is emphasized. In this study, we analyze the effect of the LLP adoption empirically, focusing on the cost behavior that is affected by the manager's decision making. From the empirical result, we find that LLP adopted companies have strengthened the cost stickiness of selling, general, and administrative costs rather than non-adopted companies. This suggests that the manager of LLP adopted company makes a more active decision to consider adjusting costs in order to prepare for future recovery in sales when sales is reduced. This study presents empirical evidence to prove the policy validity of the adoption of LLP, and we expect that our results can contribute to the capital market and academia.

Properties of quasi-noncombustible ultra-lightweight geopolymer (준불연 초경량 지오폴리머의 물성)

  • Kim, Yootaek
    • Journal of the Korean Crystal Growth and Crystal Technology
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    • v.29 no.3
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    • pp.132-139
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    • 2019
  • EPS (expanded polystyrene) is one of the most used building materials for insulation that is favored by its excellent heat insulation, economical efficiency and lightweight characteristics. However, EPS is vulnerable to the fire and producing large amount of toxic gases in case of fire. Therefore, ultra-lightweight geopolymer which can replace EPS is fabricated by using IGCC (integrated gasification combined cycle) fused slag and Si sludge as raw materials and the possibility of replacement on ultra-lightweight geopolymer for EPS as an insulation building material was evaluated in this study. Ultra-lightweight geopolymer can be fabricated with the pulverized IGCC fused slag having low carbon content and density, compressive strength, thermal conductivity were $0.064g/cm^3$, 0.04 MPa, and 0.072 W/mK, respectively. The thermal conductivity of ultra-lightweight geopolymer is 1.5~2.0 times higher than that of EPS suggested in the KS M 3808; however, the thermal conductivity value of geopolymer is meaningful and competitive to that of EPS in the market. Therefore, ultralightweight geopolymer can be applicable to the building material for thermal insulation purpose and have an enough possibility to replace EPS in the future because it is not only much safer than EPS in case of fire but also it can be fabricate by using waste materials from the industry.

Analysis of the Behavior Characteristics of Pile Foundations Responding to Ground Deformation (지반 변형 대응형 말뚝 기초의 거동 특성 분석)

  • Lee, Junwon;Shin, Sehee;Lee, Haklin;Kim, Dongwook;Lee, Kicheol
    • Journal of the Korean Geosynthetics Society
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    • v.19 no.4
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    • pp.21-32
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    • 2020
  • As the global large-scale infrastructure construction market expands, the construction of civil engineering structures in extreme environments such as cold or hot regions is being planned or constructed. Accordingly, the construction of the pile foundation is essential to secure the bearing capacity of the upper structure, but there is a concern about loss of stability and function of the pile foundation due to the possibility of ground deformation in extreme cold and hot regions. Therefore, in this study, a new type of pile foundation is developed to respond with the deformation of the ground, and the ground deformation that can occur in extreme cold and hot region is largely divided into heaving and settlement. The new type of pile foundation is a form in which a cylinder capable of shrinkage and expansion is inserted inside the steel pipe pile, and the effect of the cylinder during the heaving and settlement process was analyzed numerically. As a result of the numerical analysis, the ground heaving caused excessive tensile stress of the pile, and the expansion condition of the cylinder shared the tensile stress acting on the pile and reduced the axial stress acting on the pile. Ground settlement increased the compressive stress of the pile due to the occurrence of negative skin friction. The cylinder must be positioned below the neutral point and behave in shrinkage for optimum efficiency. However, the amount and location of shrinkage and expansion of cylinder must comply with the allowable displacement range of the upper structure. It is judged that the design needs to be considered.

An Evaluation on the Food Safety Policy of the EU after Mad Cow Disease Crisis : Social Welfare and Political Economic Perspective (광우병 위기 이후 도입된 유럽연합의 식품안전정책에 대한 평가 : 사회후생 및 정치경제적 관점)

  • Park, Kyung-Suk
    • International Area Studies Review
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    • v.22 no.3
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    • pp.255-292
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    • 2018
  • This paper evaluates the new food policy adopted by the European Union to enhance the food safety after the mad cow crisis occurred in 1990's. Newly introduced rules at the EU level are characterized by two features. Firstly, an important part of them have the form of Regulation which is a binding legislative to all member countries. Secondly, most of them are horizontally applied to the whole food industry, irrespective of their kinds of performance, hygiene or labelling. According to theoretical studies on this topic, any food safety regulation for solving adverse selection problem or reducing negative externality in food consumption should be fine-tuning depending on the concrete demand and costs conditions of the food sector concerned. In this theoretical perspective, the food safety laws introduced at EU level after mad cow crisis have been over-regulated for improving social welfare. The true motivation for the transfer of the policy competence on food safety to the Union level is political rather than economic. Our analysis with a political economic perspective shows that how the EU food regulations have been embraced not only by the governments of member countries, but also by diverse interest groups like food processor & distributors, consumers and agro-livestock groups, and that they have been used as protectionist purpose specially against non-member developing countries. Taking into account the fact that the basic aim to form the Union is to establish a single market to enhance economic efficiency at the Union level, the EU is required to adopt some policy actions to reduce negative effects of too restrictive food safety regulations.

Policy Supports for Informal Caregivers: Focusing on Policy Changes in the United States and United Kingdom (비공식 돌봄자를 위한 정책 지원 비교 연구: 미국과 영국 최근 정책 동향 고찰 중심으로)

  • Rhee, YongJoo
    • Journal of Digital Convergence
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    • v.18 no.12
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    • pp.389-399
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    • 2020
  • Diverse official policies in community are available for caregivers to take care of the elderly in the US and the UK. This study aims to examine the recent changes in government supports based on The Recognize, Assist, Include Support and Engage (RAISE) in the US, and those by Carer Act 2014 in the UK, to take any good lessons for Korean policy. Caregivers will play a new role to develop innovative treatment for patient-centered care. The UK strengthens to provide various efforts for working carers while assuring economic efficiency in labor market with empirical evidence. The major four ways to support carers were developed agreed with the acknowledge of caregiving value and their human right; financial support, direct services for carers, flexible work time, and advocacy. Korean supports policies for carers in long-term care and social welfare will be more effective in community care system if more evidence based policies are prepared.

The Economics Value of Electric Vehicle Demand Resource under the Energy Transition Plan (에너지전환 정책하에 전기차 수요자원의 경제적 가치 분석: 9차 전력수급계획 중심으로)

  • Jeon, Wooyoung;Cho, Sangmin;Cho, Ilhyun
    • Environmental and Resource Economics Review
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    • v.30 no.2
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    • pp.237-268
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    • 2021
  • As variable renewable sources rapidly increase due to the Energy Transition plan, integration cost of renewable sources to the power system is rising sharply. The increase in variable renewable energy reduces the capacity factor of existing traditional power capacity, and this undermines the efficiency of the overall power supply, and demand resources are drawing attention as a solution. In this study, we analyzed how much electric vehicle demand resouces, which has great potential among other demand resources, can reduce power supply costs if it is used as a flexible resource for renewable generation. As a methodology, a stochastic form of power system optimization model that can effectively reflect the volatile characteristics of renewable generation is used to analyze the cost induced by renewable energy and the benefits offered by electric vehicle demand resources. The result shows that virtual power plant-based direct control method has higher benefits than the time-of-use tariff, and the higher the proportion of renewable energy is in the power system, the higher the benefits of electric vehicle demand resources are. The net benefit after considering commission fee for aggregators and battery wear-and-tear costs was estimated as 67% to 85% of monthly average fuel cost under virtual power plant with V2G capability, and this shows that a sufficient incentive for market participation can be offered when a rate system is applied in which these net benefits of demand resources are effectively distributed to consumers.

A Study on UX Design for Mobile Application of Combined Services - Focused on TVing (모바일 애플리케이션 내 복합 서비스의 사용자 경험 디자인에 관한 연구 - 티빙 사례를 중심으로)

  • An, Da-Eun;Jung, Soo-Ah;Youn, Mi-Ryoung;Ku, Yeon-Kyung;Jung, Young-Wook
    • The Journal of the Convergence on Culture Technology
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    • v.7 no.3
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    • pp.497-508
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    • 2021
  • After the spread of COVID-19, the OTT market has grown rapidly. Accordingly, competition of OTT platforms has intensified. Among them, TVing provides users distinct characteristics of service, such as media and commerce, to differentiate it from other platforms. It is important to offer appropriate usability when proving combined service in one mobile application. Otherwise, it can adversely affect the user experience. In this regard, this research conducted usability testing of TVing and found out what user experience should be considered when integrating different characteristics of service in one mobile application. Through the usability testing, we measured and analyzed effectiveness, efficiency, and satisfaction based on the ISO usability testing guidelines. As a result, three important considerations of UX design for mobile application of combined services were found; 1) connectivity between services, 2) easy navigation, 3) consistent UI design, and 4) relations between subjects and provided information. This design consideration is expected to be applicable not only to TVing mobile application, but also to the situation where composed services are provided in one application.