• Journal of Intelligence and Information Systems
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• v.8 no.1
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• pp.1-13
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• 2002

Estimating the Value-at-Risk (VaR) of a non-listed or newly listed company in stock market is impossible due to lack of stock exchange data. This study employes Case-Based Reasoning (CBR) for estimating VaR's of those companies. CBR enables us to identify and select existing companies that have similar financial and non-financial characteristics to the unlisted target company. The VaR's of those selected companies can give estimates of VaR for the target company. We developed a system called VAS-CBR and showed how well the system estimates the VaR's of unlisted companies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• Journal of Korea Port Economic Association
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• v.37 no.2
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• pp.33-53
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• 2021

This study estimated the economic value of port redevelopment projects. The port redevelopment project consists of a combination of goods between market goods and non-market goods. The value of market goods can be measured at prices in the real market, but it is difficult to convert value estimates for non-market goods into currency values. Therefore, in this study, economic benefits of port redevelopment projects were estimated by the using the CVM. The estimated model used the Hanemann's model and the Bayesian approach to estimate the WTP of the sample group's using the single boundary model. Estimating the household's WTP, the Hanemann's model was estimated at KRW 10,038.33 and the Bayesian approach at KRW 12,217.1. As of the five-year period(discount benefits), the economic benefits of the port redevelopment project were estimated at 920.7 billion won for the Hanemann's model and 1.12 trillion won for the Bayesian model on a national basis. Meanwhile, as a result of estimating economic benefits(discount benefits) based on the administrative districts of Busan·Gyeongnam·Ulsan regions(five-year period), the Hanemann's model was estimated at KRW 140.4 billion and the Bayesian approach was estimated at KRW 170.8 billion.

• Journal of Information Technology Services
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• v.23 no.3
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• pp.55-63
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• 2024

To grasp the structure of an industry and monitor its changes, it is essential to utilize relevant statistics. Various statistics are being compiled regarding the software (SW) industry, presenting diverse numerical values. However, without a precise understanding of the scope and measurement methods inherent to each statistic, gaining a rigorous understanding of the industry's structure and evolving trends becomes challenging. Moreover, significant discrepancies between similar statistics often lead to confusion among users. In the software (SW) industry, key statistics commonly used include SW production value and SW market size. As of 2022, the annual domestic SW production value is reported as 77.4 trillion KRW (based on ICT Survey), while the SW market size for the same year is stated as 38.5 trillion KRW (according to IDC data). Although production value and market size may seem conceptually similar, there is approximately a twofold difference between the figures provided. Without understanding the meanings of each statistic and the differences between them, there are limitations in utilizing these statistics effectively. While statistics are utilized for various purposes such as policy development or causal analysis of policy using statistical raw data, research that presents and analyzes the precise meanings and limitations of each SW-related statistic is virtually non-existent. Thus, this study aims to compare and analyze the methodologies and differences among key statistics used to represent the SW industry: SW production value, SW market size, and SW GDP statistics. Through this analysis, the goal is to contribute to a better understanding of the SW industry's structure and enable more accurate and rigorous utilization of relevant statistics.

• The Korean Journal of Applied Statistics
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• v.12 no.1
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• pp.309-313
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• 1999

To overcome current hardship during recent years of university reform, statistics departments of Korean universities should form a new shape with efficient strategies: First, they should value interdisciplinary and open education to foster scientific generalists rather than specialists (Bode.Mosteller.Tukey.Winsor, 1949). Second, they should work out on developing curriculum and improving educational quality for non-statistics majors (Ahn.Cho.Huh, 1994). The service market is widely open and its value is certainly worthy. Third, they may change their department name from "statistics", of which the social image is not quite right, to "data science" or "data information". Statistics is a field of learning on data methodology (Friedman, 1997). methodology (Friedman, 1997).

• Ocean and Polar Research
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• v.27 no.2
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• pp.161-169
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• 2005

In recent days, most of the lagoons in Korea have been lost on account of indiscreet development and pollution. Thus, this study measures the conservation value of the Songji lagoon, a representative lagoon in Korea by using the contingent valuation (CV) method and specifies the non-use value of Songji lagoon. The survey was carefully desigrled and implemented to meet a number of recommendation rules suggested in the literature. The overall results show that the respondents well accepted the contingent market and would be willing to pay a significant amount for the proposed program to conserve Songii lagoon. Total Conservation value of Songji lagoon amounted to approximately 21.2 billion Korean won per year. Moreover, the non-use value of Songji lagoon amounted 15.7 billion Korean won per yew. The results of measuring the conservation value provide decision-makers with data indispensable to devising a conservation and management policy.

• IE interfaces
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• v.14 no.2
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• pp.190-197
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• 2001

Growth curves including Logistic and Gompertz functions are widely used in forecasting the market demand. To estimated the parameters of those functions, we use the non-linear least square method. However, it is difficult to set up the starting points for each parameter. If a wrong starting point is selected, the result reveals the local optimum or does not converge to a certain value. The purpose of this paper is to resolve the problem of selecting a starting point. Especially, rescaling the market data using the national economic index make it possible to figure out the range of parameters and to utilize the grid search method. Applications to some real data are also included.

• Informatization Policy
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• v.22 no.1
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• pp.96-117
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• 2015

With the development of Information and communication technology the demand for intangible products, in this case contents; are increasing rapidly. However, the market for paid contents is relatively un-vitalized and especially the market for business contents, needed for promoting business or work; is even more stagnant. Existing studies seek to vitalize the paid content market by proposing business models from the supplier's aspect. This study carries out a qualitative research, to discover the causes for market non-vitalization of business content from the user's perspective; by conducting in-depth interviews with 125 customers of business contents targeting office workers and independent businessmen. Through the answers of in-depth interviews, in regards of reasons for purchasing/non-purchasing business contents and problems of business content market; the result indicated that value, trust, and quality are the factors that have direct influence on the purchase. The study proposes resolution to all the problems indicated in three influential factors and derived the responsibility of each paid content market participants; the supplier, related government institution, and user.

• Korean Journal of Agricultural Science
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• v.29 no.1
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• pp.66-83
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• 2002

The economic feasibility analysis including benefit-cost ratio and internal rate of return of a land consolidation and on-farm development project was mainly depended upon the direct benefits and costs arising during project life. Therefore the projects were neglected in allocating the government's financial funds and loans on account of the low economic rate of return of the project. Accordingly the extended benefit-cost analysis method should be introduced and adapted to cover not only the benefit s such as non-market values of environmental and food security fun ct ions of the project but also market values of the project outputs. The main purposes of this study are (1) to prepare a guide line for economic feasibility analysis based on the IBRD and ADB guidelines, (2) to estimate the benefits from productivity increase, labor saving, savings of O&M cost of farm mechanization and project facilities, savings of farmer's burden for their public health, increasing environmental and public functional value of paddy fields, improving food security condition and formation of peaceful and uncontroversial rural society by implementing the land consolidation and on-farm development, (3) to introduce the newly adapted analytical method as the extended benefit cost analysis which could make possible to be included the values of non-market goods such as the food security and the environmental public function of paddy fields. To carry out this study, the existing publications on the guidelines for economic agricultural projects were reviewed and consultation was made with a For the post evaluation study of the land consolidation and on-farm development project, field survey in Jigok and other comparative area were made to get available information. According to the project completion report, Jigok land consolidation and on-farm development project has 55ha of benefit area out of 69ha of gross area. The project was started in November 11th, 2000 and completed october 30th, 2001. The total project costs were amounted to 2,548 million won and the annual project benefits were estimated at 335million won evaluated by domestic market prices. The ERR(Economic Rate of Return) and SRR(Social Rate of Return) of the project based on the shadow pricing system were estimated at 4.4% and 16% respectively. On the other hand, the ERR and SRR based on the domestic market value system were amounted to 6.37% and 14.62%. In conclusion, Korean land consolidation and on-farm development projects have not carried out from the view point of economic rate of return under shadow pricing system but from the view point of domestic pricing system. For the future feasibility studies on land consolidation projects have to be carried out including the non-market values as environmental and food security function of the projects.

• 한국벤처창업학회:학술대회논문집
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• 2006.04a
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• pp.77-104
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• 2006

Utilizing the patent application data between 1997 and 2002, this study focuses on analysing the impact of patents on firm value. Especially we attempt to examine the difference of patents between venture firms and general firms. This paper first shows that the number of the patent applications of general firms listed on the securities market are more than those of venture firms listed on KOSDAQ. It is thought that this result is originated from facts that the size of firms of the securities market is usually bigger than the firms of KOSDAQ and that these large firms could manage R&D more efficiently. Second, this paper reports that there is no difference in the ratio of patent maintenance between venture firms and general firms. Both venture firms and non-venture firms would do their best to keep their patents after patent regisration. Third, in the regression of patent index and firm growth, we find that the excellence of patent and the number of patents per employee would have an impact on the growth of firms. Fourth, the regression of patent index and profitability shows that the excellence and the number of patents per employee might have an effect on the profitability of firms.