• Journal of the Korea Society of Computer and Information
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• v.24 no.3
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• pp.29-39
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• 2019

In this study, we introduce a model that satisfies energy efficiency and economical efficiency by introducing and demonstrating cogeneration generators in industrial complexes using various actual data collected at the site. The proposed model is composed of three scenarios, ie, full - time operation, scenario operated according to demand, and a fusion type. In this study, the power generation profit and surplus thermal energy are measured according to the operation of the generator, and the thermal energy is traded according to the demand of the customer to calculate the profit and loss including the heat and evaluate the economic efficiency. As a result of the study, it is relatively profitable to reduce the generation of the generator under the condition that the electricity rate is low and the gas rate is high, while the basic charge is not increased. On the contrary, if the electricity rate is high and the gas rate is low, The more you start up, the more profit you can see. These results show that even a cogeneration power plant with a low economic efficiency due to a low "spark spread" has sufficient economic value if it can sell more than a certain amount of heat energy from a nearby customer and adjust the applied power through peak management.

• Asia Pacific Journal of Business Review
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• v.5 no.2
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• pp.19-44
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• 2021

Sub Saharan Africa (SSA) is receiving increased investments in the energy sector under the belt and road initiative (BRI) project since its inception in 2013. SSA has a worse energy efficiency ratio coupled with deficient electricity access, through analysis showed varied impacts on the SSA countries due to the BRI initiative. This study dilves into the influencing factors for Energy Efficiency (EE) in 38 SSA countries, applying the probit and logit approach for 2000-2018. The Multiple-regression model shows significant results of some variables such as foreign direct investment, gross domestic product, and port infrastructure quality being significant on EE under BRI initiative countries. However, the logit and probit models produce similar results and the marginal effect for the entire variable, except energy imports that do not likely impact EE. Furthermore, the interaction of quality of port infrastructure and foreign direct investment variables produces significant results, highlighting the increased investments SSA receives under the BRI initiative in the energy and transport sectors. The model Percent correctly predicted (PCP) value was about 84%, indicating it correctly classified the variables and about 16% not classified. The study recommends EE performance standards should be incorporated on energy projects in SSA to ensure that these projects are energy efficient and decouple SSA's energy demand from economic growth. The research proffers suggestions for policy regarding the BRI initiative in SSA and the implications on sustainable energy and building a community with a shared future.

• Geomechanics and Engineering
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• v.28 no.3
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• pp.209-224
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• 2022

In this study, the numerical analysis model of π-beam explosion is established to compare and analyze the failure modes of the π-beam under the action of explosive loads, thus verifying the accuracy of the numerical model. Then, based on the numerical analysis of different protection forms of π beams under explosive loads, the peak pressure of π beam under different protection conditions, the law of structural energy consumption, the damage pattern of the π beam after protection, and the protection efficiency of different protective layers was studied. The testing results indicate that the pressure peak of π beam is relatively small under the combined protection of steel plate and aluminum foam, and the peak value of pressure decays quickly along the beam longitudinal. Besides, as the longitudinal distance increases, the pressure peak attenuates most heavily on the roof's explosion-facing surface. Meanwhile, the combined protective layer has a strong energy consumption capacity, the energy consumed accounts for 90% of the three parts of the π beam (concrete, steel, and protective layer). The damaged area of π beam is relatively small under the combined protection of steel plate and aluminum foam. We also calculate the protection efficiency of π beams under different protection conditions using the maximum spalling area of concrete. The results show that the protective efficiency of the combined protective layer is 45%, demonstrating a relatively good protective ability.

• Journal of Information Technology Services
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• v.15 no.2
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• pp.51-63
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• 2016

In this study, we conducted a comparative analysis of R&D investment efficiency and operational efficiency of IT firms using Data Envelopment Analysis (DEA). We categorized thirteen sample firms into two groups-IT manufacturing and IT service-after an extensive literature review on IT industry classification. We adopted an output-oriented two-stage DEA model suggested by Banker et al. (1984) with total asset and R&D investment as input variables. Then, we constructed investment efficiency and operational efficiency by using Return on Equity (ROE) and Return on Asset (ROA) as intervening variables and operating income and Earnings Per Share (EPS) as output variables. The outcome of the analysis is summarized as follows. First of all, IT manufacturing firms were more efficient (57% on average) than IT service firms. To be specific, IT service firms showed decreasing returns to scale (DRS) with diseconomy of scale. In contrast, IT service firms showed higher operational efficiency (81.5% on average) than IT manufacturing firms. Also, we conducted a Mann-Whitney U test to compare the output of IT service firms and IT manufacturing firms. Lastly, we found a negative correlation ($R^2$ = -.754) between R&D investment efficiency and operational efficiency which infers the trade-off between two constructs

• Health Policy and Management
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• v.11 no.4
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• pp.38-53
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• 2001

The price of the hospitals' services is regulated by the governmental health insurance reimbursement schedule in Korea. On the other hand, the emphasis on the quality of care of hospitals service is ever increasing. Under the environment, hospitals have to understand the effects of the activities to improve quality of care on efficiency and on financial performance so that they develop a management strategy that allows quality of care, operational efficiency, and financial achievement simultaneously. This study investigates the relationship among the concepts. The sample for the study includes 23 hospitals that have more than 300 beds. The concept of quality of care is measured by the score reported by the Hospital Standardization Survey (HSS) instituted by Korean Hospital Association. Efficiency is measured by the ratio of number of employee to the number of patients served. Financial performance is measured by the financial ratios indicating the profitability of a hospital. An analysis is performed using the multiple regression. The results show significant positive relationships between the HSS score and efficiency indicators, md between the HSS score and profit measures. However, the significant positive relationship between the HSS score and profit measures disappeared when efficiency indicators were introduced to the model. This study concludes that the structural quality of a hospital has a positive effect on efficiency of the hospital and that the structural qualify indirectly affects the financial performance of a hospital through the improvement of efficiency. Based on the findings, the implications on hospital management and health policy are discussed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.4
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• pp.81-90
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• 2018

Modern investment theory has empirically proved that stock returns can be explained by several factors such as market risk, firm size, and book-to-market ratio. Other unknown factors affecting stock returns are also believed to still exist yet to be found. We believe that one of such factors is the operational efficiency of firms in transforming inputs to outputs, considering the fact that operations is a fundamental and primary function of any type of businesses. To support this belief, this study intends to empirically study the relationship between firm efficiency and stock price performance. Firm efficiency is measured using data envelopment analysis (DEA) with inputs and outputs obtained from financial statements. We employ cross-efficiency evaluation to enhance the discrimination power of DEA with a secondary objective function of aggressive formulation. Using the CAPM-based performance regression model, we test the performance of equally weighted portfolios of different sizes selected based upon DEA cross-efficiency scores along with a buy & hold trading strategy. For the empirical test, we collect financial data of domestic firms listed in KOSPI over the period of 2000~2016 from well-known financial databases. As a result, we find that the porfolios with highly efficient firms included outperform the benchmark market portfolio after controlling for the market risk, which indicates that firm efficiency plays a important role in explaining stock returns.

• The Journal of Economics, Marketing and Management
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• v.9 no.3
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• pp.11-21
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• 2021

Purpose: The purpose of this study is to understand the status quo of production efficiency in private industrial enterprises above designated scale in China's 31 provinces (including municipalities directly under the central government, autonomous regions) (hereinafter referred to as China's 31 provinces). Research design, data and methodology: Find out the factors affecting the development of production efficiency in private industrial enterprises, using DEA, Data Envelopment Analysis and Malmquist index analysis, build the evaluation model of production efficiency in private industrial enterprises, and analyze the data of China's 31 provinces private industrial enterprises in 2015-2019. Results: The research results show that the production efficiency of private industrial enterprises in China is improving on the whole. Although the total factor productivity has decreased slightly, the overall efficiency and pure technical efficiency have increased significantly. Conclusions: The conclusion of this study can provide reference for Chinese private industrial enterprises to improve production efficiency and make development plan. The limitation of this paper lies in the fact that the private industrial enterprises in inefficient provinces have not been given specific improvement plans.

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.1
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• pp.41-51
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• 2021

Purpose - The purpose of this study is to propose strategies of improving efficiency of 20 listed port companies in China based on analysis of their input-output indexes from 2014 to 2018. Research design, data, and methodology - In this paper, the relevant input-output indicators of 20 listed port companies in China from 2014 to 2018 were adopted. Data derived from the company annual reports announced by Shanghai stock exchange and Shenzhen stock exchange. Comprehensive efficiency and pure technical efficiency were measured from output perspective by DEA and Malmquist index, and efficiency changes and regional efficiency were analyzed. Result - The results showed that the efficiency value of 20 listed port companies in China fluctuated and increased during 2014-2018, regional efficiency was unbalanced, and change of MPI was influenced by internal factors and external factors. Listed port companies affected by internal and external factors needed to make appropriate response to internal and external factors. Conclusion - The research conclusion can provide important reference information about management and planning for port companies in China and related areas. However, this paper is limited to the availability of data. So the improvement scheme for listed companies in inefficient regional ports needs further study, such as using AHP method.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.504-511
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• 2020

This paper studies the operational efficiency of the new sesame variety "da u" farmed by the Rural Development Administration. In the survey area--Gyeonggi-do Province, where sesame cultivation was the most intensive. Thirty farmers were surveyed by rural enterprises in the Yangpyeng area where 'da u' was planted. The efficiency of the operation was analyzed by studying the data of 30 farmers. In order to analyze the operational efficiency of the farmers, this survey used the DEA model for analysis in order to determine the technical efficiency of farmers. The result shows that the DEA technical efficiencies of most farmers are efficient, and only 6 farmers are inefficient. The reason for the inefficiency is the high cost of input factors. To analyze the determinants of efficiency through the Tobit model, reducing the pesticides and general fertilizers led to increased technical efficiency. This is inefficient use of pesticides and general fertilizers relative to the output factor, and efficient methods should reduce the cost issues.

• Journal of Pharmaceutical Investigation
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• v.31 no.4
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• pp.241-256
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• 2001

Alginate microspheres, containing fluorescein isothiocyanate-bovine serum albumin (FITC-BSA) or green fluorescent protein (GFP) were prepared and used as a model drug to develop the oral vaccine delivery system. The alginate microspheres were coated with poly-L-lysine or chitosan. Two methods, w/o-emulsion and spray, were used to prepare alginate microspheres. To optimize preparation conditions, effects of several factors on the particle size and particle morphology of microsphere, and loading efficiency of model antigen were investigated. In both preparation methods, the particle size and the loading efficiency were enhanced when the concentration of sodium alginate increased. In the w/o-emulsion preparation method, as the concentration of Span 80 was increased from 0.5% to 2%, the particle size was decreased, but the loading efficiency was increased. The higher the emulsification speed was, the smaller the particle size and loading efficiency were. The concentration of calcium chloride did not show any effect on the particle size and loading efficiency. In the spray preparation method, the particle size was increased as the nozzle pressure $(from\;1\;kgf/m^2\;to\;3\;kgf/m^2)$ and spray rate was raised. Increasing calcium chloride concentration (<7%) decreased the particle size, in contrast to no effect of calcium chloride concentration on the w/o-emulsion preparation method. Alginate microspheres prepared by two methods were different in the particle size and loading efficiency, the particle size of microspheres prepared by the spray method was about $2-6\;{\mu}m$, larger than that prepared by the w/o emulsion method $(about\;2{\mu}m)$, and the loading efficiency was also higher with spray method. Furthermore, drying process for the microspheres prepared by the spray was simpler and easier, compared with the w/o emulsion preparation. Therefore, the spray method was chosen to prepare alginate microspheres for further experiments. Release pattern of FITC-BSA in alginate microspheres was evaluated in simulated intestinal fluid and PBS (phosphate buffered saline). Dissolution rate of FITC-BSA from alginate/chitosan microsphere was lower than that from alginate microsphere and alginate/poly-L-lysine microsphere. By confocal laser scanning microscope, it was revealed that alginate/FITC-poly-L-lysine microspheres were present in close apposition epithelium of the Peyer's patches of rabbits following inoculation into lumen of intestine, which proved that microspheres could be taken up by Peyer's patch. In conclusion, it is suggested that alginate microsphere prepared by spray method, showing a particle size of & $10\;{\mu}m$ and a high loading efficiency, can be used as a model drug for the development of oral vaccine delivery system.