• Journal of Korea Water Resources Association
• /
• v.42 no.4
• /
• pp.281-295
• /
• 2009

This study estimates the value of irrigation water in Korea using an economic programming model that is constructed with all the resource endowment constraints, technology restrictions and policy variables. The variability and uncertainty of water resource endowment are incorporated into the model through the chance-constrained technique. Solving the profit maximization problems with gradually reduced water endowments, we derive a series of shadow values of irrigation water. It has been found that uncertainty in water supply raises the damage from water loss, and the marginal damage increases in water loss.

• Journal of the Korea Institute of Building Construction
• /
• v.13 no.4
• /
• pp.372-381
• /
• 2013

In the construction industry, a great deal of research has been focused on productivity improvement because a minor change in labor productivity can often make the difference between a profit and a loss. This study shows how productivity measurement methods can be applied in practice, step by step, to analyze and identify potential problems both in productivity and methods performance for masonry work. A work sampling technique was conducted to determine the nature and extent of an observable activity as an aid to measuring overall performance. Also, a method productivity delay model was used to identify non-productivity in individual cycle times. From the work sampling technique, it was found that the masonry crew had a Labor Utilization Factor of 47.1%, and from the videotape analysis, it was found that the material and dumpster location need to be adjusted to reduce the travelling distance. We have found that efforts to improve the productivity of masonry work should be focused almost exclusively on machine and labor delays, based on the result from the method productivity delay model.

• The Korean Journal of Applied Statistics
• /
• v.22 no.3
• /
• pp.489-498
• /
• 2009

Underwriting is the first step for the administration of an insurance contract, which may result in stable profitability or unexpected loss for insurance company. Adequacy of underwriting criteria determines underwriting result. Generally, quantitative scoring system is used for underwriting. Method of evaluating risk for the scoring system is summing up scores for risk factors of a potential policyholder in consideration. Scores for each risk factor is predetermined. Current business environment for insurance companies makes underwriting profit more important, which means that insurance companies need more efficient underwriting method. This study suggests a reasonable approach to estimate risk relativities based on generalized linear model. Real data were used to quantify risk levels of groups of insureds for the design of underwriting model. Finally, effects in business volume and profitability of reflecting estimated underwriting scoring system are explained.

• Korean Chemical Engineering Research
• /
• v.56 no.5
• /
• pp.655-662
• /
• 2018

To respond effectively to climate change following the launch of the new climate system, the government is seeking to expand the use of distributed power resources. Among them, the district heating system centered on Combined Heat and Power (CHP) is accepted as the most realistic alternative. On the other hand, the government recently announced the change of energy paradigm focusing on eco-friendly power generation from the base power generation through $8^{th}$ Basic Plan for Long-term Electricity Supply and Demand(BPE). In this study, we analyzed the quantitative effects of profit and loss on the CHP operating business by changing patterns of the heat production, caused by the change of energy paradigm. To do this, the power market long-term simulation was carried out according to the $7^{th}$ and $8^{th}$ BPE respectively, using the commercialized power market integrated analysis program. In addition, the CHP operating model is organized to calculate the power and heat production level for each CHP operation mode by utilizing the operating performance of 830MW class CHP in Seoul metropolitan area. Based on this, the operation optimization is performed for realizing the maximum operating profit and loss during the life-cycle of CHP through the commercialized integrated energy optimization program. As a result, it can be seen that the change of the energy paradigm of the government increased the level of the ordered power supply by Korean Power Exchange(KPX), decreased the cost of the heat production, and increased the operating contribution margin by 90.9 billion won for the 30 years.

• Journal of Distribution Science
• /
• v.12 no.5
• /
• pp.27-32
• /
• 2014

Purpose - Since Iran's economy is only now developing, and its stock market is only now emerging, we should deal with the relationship between ownership structure and conservative accounting of companies to see whether such a relationship exists in Iran's market. This study aims to investigate the relationship between ownership structure and accounting conservatism of listed companies on the Tehran Stock Exchange. Research design, data, and methodology - All listed companies on the Tehran Stock Exchange, for which the required information financial statements (balance sheet, profit and loss account) could be acquired for the period 2007-2012, were studied. A total of 123 companies from various industries was selected. Results - In order to test the hypotheses, multi variate regression (inter procedure), with their meaningful t- and f-statistics, and a Durbin-Watson autocorrelation model were used. Conclusions - The research results show that the ownership of major shareholders and ownership concentration have a negative significant relationship with accounting conservatism. Therefore, as a significant negative relationship between concentration of ownership and accounting conservatism at the 95% confidence level was found, the second hypothesis was confirmed.

• The Journal of Bigdata
• /
• v.5 no.2
• /
• pp.231-240
• /
• 2020

With the development in the IT industry and the growth in the game industry, user's game data is recorded in seconds according to various plays and options, and a vast amount of game data can be analyzed based on Bigdata. Combined with business, Bigdata is used to discover new values for profit creation in various fields, but it is utilized in the game industry in insufficient ways. In this study, considering the characteristics of the subdivided lines, we constructed a win-loss prediction model for each line using the game data of League of Legends, and derived the importance of variables. This study can contribute to planning of strategies for general game users to get information about team members in advance and increase the win rate by using the record search sites.

• Korean Journal of Construction Engineering and Management
• /
• v.23 no.5
• /
• pp.108-116
• /
• 2022

Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.26 no.4D
• /
• pp.635-647
• /
• 2006

Korean construction companies first advanced to the international markets in 1960's and so far have brought more than 4,900 projects which account for 193 billion dollars approximately. With the large increase of national employment and income being followed by the achievement, Korea's construction industry has made an enormous contribution to the improvement of domestic economy for the last 40 years. However, recently the increased risk in international markets as well as the sharpening competition with foreign companies promising in terms of advanced technologies and low labor cost have been driving Korean construction away from the market shares. According to ENR (Engineering News Record, 1994~2003), it is revealed that 15.1% of top 225 global contractors are suffering from loss in international construction markets. This phenomenon is largely due to the highly uncertain characteristics of international projects, which are inherently exposed to various and complicated risky situations. Furthermore, especially for Korean construction companies, it is often the case that the failure in an international construction project cannot be offset by even a sufficient number of successful domestic achievements. Therefore, not only the selective screening among the nominated projects which have strong possibility of collapse but the systematic strategies for controlling potential risk factors are also considered indispensable in international construction portfolio management. The purpose of this study is to first analyze the causal relationships of the profit-influencing variables and the project success, and develop the profitability forecasting model in international construction projects.

• Journal of Cadastre & Land InformatiX
• /
• v.45 no.1
• /
• pp.207-224
• /
• 2015

The purpose of this study is to review the various valuation techniques of intangible assets. The value of intangible asset by the income approach can be measured as the present value of the economic benefit over the intangible asset's remaining useful life. The typical methods used in intangible asset economic income projections include extrapolation method, life cycle analyses, sensitivity analyses, simulation analyses, judgment method, and tabula rasa method. There are several methods available for estimating capitalization rates and discount rates for intangible asset, in which we have discussed market extraction method, capital asset pricing model, built-up method, discounted cash flow model, and weighted average cost of capital method. As the capitalization methods for intangible asset, relief-from-royalty method, excess earnings capitalization method, profit split method, residual from business enterprise method, postulated loss of income method and so on have been reviewed.

• The Journal of the Korea Contents Association
• /
• v.19 no.8
• /
• pp.137-150
• /
• 2019

In this study, we investigated the joint effects of message framing (profit vs. loss) and source type (celeb vs. general) on the persuasive effectiveness of mass media campaign to prevent drunk driving. As a result of conducting an experimental study on 218 motorcycle drivers in Vietnam, the main effects of message framing were not significant, but the interaction effect with the type of information source consistently influenced the attitude toward the advertisement, the drunk driving prevention, and the behavior intention Specifically, it is more persuasive to send a message by a general model rather than an celebrity when the loss framing method is used while it is more persuasive to send a message by a celebrity model than a general model when the gain framing is used. This study therefore provided valuable information and practical implication to the National Traffic Safety Committee of Vietnam for establishing a campaign to prevent drunk driving. In addition, this research also has valuable theoretical implication because it examines the effect of drunk driving prevention campaign on the attitude toward not only advertisement and the drunk driving prevention but also the behavior intention.