• Environmental and Resource Economics Review
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• v.27 no.4
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• pp.613-637
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• 2018

Fuel cell power plant which has advantages as a distributed generation is influenced by high cost of investment and uncertainty of electricity price. This study suggests the model of real options which considers the irreversibility of investment in the fuel cell plant and the uncertainty of electricity price. Most models of real options assume the geometric Brownian motion for convenience, but this study develops the model for the feasibility analysis considering the mean reverting process of electricity price, with the closed form solution on the value of investment option. The result of the empirical analysis considering the data related to the fuel cell generation with the scale of 20MW and the domestic RPS circumstance represents that the investment is feasible without the uncertainty, and is not feasible with the uncertainty. This result implies that the political support as well as the improvement of profit system including revenue and cost are necessary for the activation of the fuel cell power plant.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.1
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• pp.123-130
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• 2021

With the recent developments in computer technology, there has been an increasing interest in the field of machine learning. This also has led to a significant increase in real business cases of machine learning theory in various sectors. In finance, it has been a major challenge to predict the future value of financial products. Since the 1980s, the finance industry has relied on technical and fundamental analysis for this prediction. For future value prediction models using machine learning, model design is of paramount importance to respond to market variables. Therefore, this paper quantitatively predicts the stock price movements of individual stocks listed on the KOSPI market using machine learning techniques; specifically, the reinforcement learning model. The DQN and A2C algorithms proposed by Google Deep Mind in 2013 are used for the reinforcement learning and they are applied to the stock trading strategies. In addition, through experiments, an input value to increase the cumulative profit is selected and its superiority is verified by comparison with comparative algorithms.

• Journal of the Korea Convergence Society
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• v.11 no.12
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• pp.187-197
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• 2020

In this study, how international diversification of domestic companies increases corporate profits and increases the dividend income of paid-in capital investors, who provided the basis for corporate business activities in the process of distributing profits. I tried to find out if it had an effect. An empirical analysis was conducted using a fixed-effect model for companies with settlements at the end of December listed on the domestic securities market from 2011 to 2018. It was confirmed that the higher the level of international diversification of individual companies, the higher the company's dividend payout ratio and dividend yield. This means that companies can steadily expand corporate profits and dividend yield of shareholders by securing new overseas markets through international diversification, it can be seen that a company's international diversification strategy can contribute to the increase of corporate value by increasing the company's dividend payout ratio by increasing dividendable profit.

• The Korean Journal of Applied Statistics
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• v.35 no.4
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• pp.527-541
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• 2022

A company is a social group of many individuals that work together to obtain better results, and it is an organization that pursues common goals such as profit. As a result, forming networks among members, as well as individual communication abilities, is critical. The purpose of this research was to determine what factors influence the creation of employee advice relationships. Using the ERGM(Exponential Random Graph Model) approach, we looked at the network data of 44 individuals from consulting firms with offices in the United States and Europe. The significance of structural network factors like connectivity was first discovered. Second, the gender factor had the most significant main influence on the likelihood of adopting each other's advice. Third, geographical homogeneity resulted in higher link probabilities than major impacts of gender. This research looked at ways to make a company's network more efficient and active.

• Journal of Digital Convergence
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• v.19 no.11
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• pp.113-119
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• 2021

This study compared business performance and earnings quality before and after the COVID-19 pandemic for information and communication companies whose sales increased due to the impact of the COVID-19 pandemic. For this, 4 indicators of ROA, growth potential, liquidity, and stability are used for business performance, and for earnings quality, the standard deviation of the residuals measured by the Dechow and Dichev(2002) model and Francis et al.(2005) model was used. As a result of the analysis, ROA, a representative business performance indicator, increased after xthe period compared to the period before the pandemic, but liquidity was rather deteriorated. As for the quality of earnings, it was confirmed that earnings sustainability is maintained in the post-pandemic period compared to the previous period, similar to ROA. Overall, the profit level and earnings quality of information and communications companies seemed to be improving, while liquidity was deteriorating. This confirms that companies that have overcome the immediate crisis are not ready to pay off their debts right away. Therefore, it suggests that companies need restructuring to reduce their increased debt from the time the COVID-19 subsides.

• Journal of Korea Trade
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• v.23 no.6
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• pp.131-144
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• 2019

Purpose - The purpose of this study was to investigate market power of soybeans exported by the United States to Korea. Particularly, this paper considered dichotomous characteristics of genetically modified (GM) soybeans and non-GM soybeans and conducted empirical analysis of these two segregated soybean markets to understand key tenets of market power in international soybean trade. Design/methodology - The difference in market power between GM and non-GM soybeans was analyzed using Residual Demand Elasticity (RDE) and Residual Supply Elasticity (RSE) models over the period of 2008~2018. RDE and RSE models under an imperfect competition condition were used to estimate market margins and determine whether GM and non-GM exporters or importers exercised market power in the destination market. Findings - Empirical results suggested that the U.S. had a market power on both GM and non-GM soybean exports. GM exports had greater market power than non-GM exports (14% vs. 9%). By contrast, Korea showed an inability to grab market margin or exert market power in soybean imports. Both export supply by the U.S. and import demand by Korea were found to be more responsive to price changes of GM soybeans than to prices changes of non-GM soybeans. This might be due to a self-interested, profit-seeking strategy by the exporter and many concerned consumers regarding potential adverse effects of GMOs in the importing country. Originality/value - This paper fills the literature gap by exploiting market power in both GM and non-GM markets with explicit consideration of price correlations between GM and non-GM soybeans in Korea. A number of existing studies have provided evidence for market power broadly embedded in international commodity trade. However, studies focusing on Korean markets are limited. No study has explored the country's soybean trade. Furthermore, the majority of prior studies have almost exclusively focused on the market power from a standpoint of exporting countries without discussing importers' market structure. This paper also sought to understand potentially distinguished patterns of market power between GM and non-GM markets.

• Journal of Information Technology Applications and Management
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• v.30 no.2
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• pp.45-57
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• 2023

Efforts to build metaverse platform services and expand profit structure are developing in a more realistic direction. The metaverse, which has been centered on 'creation and economy' and 'discovery', will evolve into an 'experience' metaverse, creating tangible business effects where satisfaction with the user experience leads directly to purchase. In this paper, the condition of the avatar used as a medium of economic activity between the metaverse platformer and the user and the business utilization plan were sought. In addition, a new 'metaverse business model' was proposed based on 'experience, discovery, creation and economy', and in particular, it was intended to lay the foundation for the experience metaverse to further develop in the form of 'business experience'. In addition, a survey was conducted on the 'application of metaverse service and avatar' targeting the MZ generation, the main customer base of the current metaverse service. In order to provide a service that satisfies the user, it was concluded that the appearance of the avatar needs to be changed according to the purpose and function. Accordingly, we propose an 'selective switch mode' that can change the avatar's appearance at the desired timing according to the 'experience' and 'purchase purpose' of each metaverse service area. In addition, by strategically utilizing the 'Digilog' psychology, we believe that it will be possible to promote the influx of new users while increasing the loyalty of existing users to the platform. Through the establishment of 'avatar purchase system' by 'selective switch mode' and 'avatar decorating system' by 'digilog' strategy, the experience metaverse, which has been focused on 'digital twin experience' so far, is As it develops into 'business experience', it is expected that the user experience can be further satisfied.

• Journal of Platform Technology
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• v.11 no.4
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• pp.62-70
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• 2023

This research is one of a series of studies to develop a system to help agricultural producers and sellers determine when and how much to ship products to the wholesale market to maximize their profit. The purpose of this research is to incorporate the time-varying quality change effect, which was not used in the previous agricultural and marine product shipping model. The researchers developed four models to measure the quality change effect: quality declining steadily over time, quality declining rapidly at first and then slowly, quality declining first slowly and then rapidly, and quality rising over time and then decreasing again. According to the results of an empirical analysis of the effect of each model's quality change effect on shipments for apples traded in the Garak Wholesale Market from 2014 to 2021, statistical significance was found in the quality change effect of all four models. And there was no significant difference in explanatory power between the four models. Therefore, any of the four models should be introduced into the decision-making system for shipping time for apples.

• The Korean Journal of Franchise Management
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• v.1 no.1
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• pp.87-103
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• 2010

Today, banks offer banking services to a large number of customers by a branch network spread all over the nation. The quantity and quality of services are advanced by fierce competition in their field. So they are attracting customers based on high confidence in the financial industry. In spite of these developments, the retail bank market currently does not satisfy customers demands and various desires. In this research, the problems with banking services were observed. It was proposed that the banking services apply a franchise business model. First, this proposal will reduce the business expenses by collaborating profits with head office of banks and affiliates. Second, it will offer greater satisfaction to the customers. Through the mutual collaboration with head office of banks and affiliates in this proposal, it is anticipated that banks will reduce their business expenses and improve services for customers by offering convenient and fast banking services. It is also expected that the banks will expand and make up their weakness through increased profit and customers will be provided additional services.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.1220-1220
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• 2022

Constructionarium Ltd is a not-for-profit organisation which delivers a residential, experiential, immersive learning opportunity to university students from across the built environment education sector. Since 2002, the Constructionarium education model has been available to students in engineering, construction management and architecture at a purpose built, 19-acre multi-disciplinary training facility in Bircham Newton, England simulating real site life and reflecting site processes, practices and health and safety requirements. The unique approach of Constructionarium puts experiential learning and sustainability at the heart of everything. In a week, students develop a practical understanding of the construction process, develop transferable skills, build a team and are exposed to the latest in sustainable technologies. Experiential learning is what differentiates a Constructionarium project from regular field trips or site visits. At Constructionarium the focus is on learning by participation rather than learning through theory or watching a demonstration. The projects cannot be replicated in a classroom or on campus. Using the hands-on construction of scaled down versions of iconic structures from around the world, students learn that it requires the involvement of the whole construction team to successfully complete their project. Skills such as communication, planning, budgeting, time management and decision making are woven into a week-long interrelationship with industry professionals, academic mentors and trades workers. Working together to enhance transferable skills brings the educational environment into the reality of completing an actual construction project handled by the students. Constructionarium has used this transformational learning model to educate thousands of students from all over the United Kingdom, Europe and Asia. Texas A&M University in the United States has sent multiple teams of students from its Department of Construction Science every operational year since 2016.