• Korean Management Science Review
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• v.31 no.3
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• pp.95-111
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• 2014

It is essential to carry out an economic analysis on public water supply projects so that policy makers and water enterprises are aware of the actual value of the project. However, many popular approaches based on discounted cash flow analysis do not capture the uncertainties inherent in cash flow. In order to analyze the economic values of the water supply project of local governments, we utilize real option model, which considers uncertainty in future water price behavior and captures the value of real life flexibility. The real option model is designed to incorporate the option to expand and abandon, and it is applied to a local government case. Furthermore, we assess the project by exploring Luehrman's option space to accommodate the more efficient decision making. The results show that substantial amount of potential value is included in the public water supply service, and the overall value is greater than the value obtained from the discounted cash flow model.

• The Journal of Asian Finance, Economics and Business
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• v.1 no.4
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• pp.5-13
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• 2014

This study contributes to addressing the problem of an aging population by providing important information that determines feasible monthly payments for the clients of Chinese reverse mortgage products and by promoting the implementation of reverse mortgages in China. The variables used in this study include mean values obtained from time series data, of the rate of increase of housing prices, and the probability value, interest rate, and mortality rate obtained through the geometric Brownian motion (GBM). For mortality rates, China Life Insurance female mortality rates (2000-2003) were used. This study aims to apply the main variables that affect reverse mortgage products in a monthly payment model based on Chinese financial market conditions, and determine loan values. In this study, Shanghai's reverse mortgage monthly payments, by age levels, were calculated through the loan-to-value (LTV) and payment (PMT) methods to evaluate the value of the reverse mortgages. Based on the optimal combination of the three factors of payment amount, loan interest rates, and the level of acceptance of prices, efforts must be made to extract the best value for the elderly. Only in this way can the interests of both lenders and borrowers be protected, by increasing the market share and economies of scale of the reverse mortgage industry and effectively improving the living standards of the elderly.

• Korean Institute of Interior Design Journal
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• v.22 no.6
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• pp.162-172
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• 2013

This study focuses on the genealogical analysis of the urban public spaces by the local history of Seoul which is significantly different from western cities. The analysis targets the discourse of the urban street which defines urban space-structure among the urban public spaces. Based on the analysis, we define the progress levels of urban public design policy in Seoul. Firstly, in 1960's and 1970's, 'urban reconstruction' was intensively carried out for the country modernization, and 'vehicle preferred street expansion' resulted in damages to historical inheritance, in-humanized street, and cultural uniformity. 1980's and 1990's would be defined as 'politic acceptance of plural values to the urban street.' There were the Olympic Games held in Seoul in 1988, which were the celebrations of the 600th capital establishment and the autonomous local government system. In the meanwhile, diverse values on the urban street were discussed in terms of globalization. There also were the self-reflection for the urban skyscrapers and high-population rate, the cultural uniformity of urban street, and the commercialization in downtown with urban reconstruction plans. Then, the sense of landscape and amenity was focused. Various urban projects and regulations were held according to the changes of value recognition. 2000's can be defined as 'introduction to the organic integration and the urban public design governance.' In the 21st century, types of recognition have changed significantly, which include publicness, humanism, sustainability, symbolism, artistry, placeness, and communication. They cause the establishment of ordinances and the installation of integrated organization via urban design administration. The legislation has been revised in order to support the various methods for the maintenance and operation of urban landscape in terms of local characteristics. New regulations were established for residents to participate in the processes of the urban planning with street design policy.

• Journal of Preventive Medicine and Public Health
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• v.48 no.1
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• pp.18-27
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• 2015

Objectives: Civic participation, that which directly influences important decisions in our personal lives, is considered necessary for developing a society. We hypothesized that civic participation might be related to self-rated health status. Methods: We constructed a multi-level analysis using data from the World Value Survey (44 countries, n=50 859). Results: People who participated in voting and voluntary social activities tended to report better subjective health than those who did not vote or participate in social activities, after controlling for socio-demographic factors at the individual level. A negative association with unconventional political activity and subjective health was found, but this effect disappeared in a subset analysis of only the 18 Organization for Economic Cooperation and Development (OECD) countries. Moreover, social participation and unconventional political participation had a statistically significant contextual association with subjective health status, but this relationship was not consistent throughout the analysis. In the analysis of the 44 countries, social participation was of borderline significance, while in the subset analysis of the OECD countries unconventional political participation was a stronger contextual determinant of subjective health. The democratic index was a significant factor in determining self-rated health in both analyses, while public health expenditure was a significant factor in analysis of 18 countries. Conclusions: Our investigation suggests that civic participation, including unconventional political activity at the contextual level, might be a significant determinant of health status of a country.

• Journal of the Korean Society for Library and Information Science
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• v.22
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• pp.29-82
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• 1992

The goal of the public library as perceived by its staff has asignificant influence on establishing, implementing and restructuring the objectives of the public library. Therefore, it is necessary to analyze the nature of staff's perception of the goal. The goals of the library are divided into 'actual goal' and 'preferred goal' according to the level of goals, and into 'aoutput goal' a and 'asupport goal'a according to the areas of goals. This study aims at clarifying the relationship among various goals of the public library. On the basis of staff's perception, personal characteristics of individual staff and their effects on the goal can be analyzed. For the purpose of the research, the author took a sample from the 238 public libraries in Korea and tested a few hypotheses extracted from the questionnaires. A statistical software package called SYSTAT was used to process the data. The result of the study can be summarized as follows: 1. Staff members of the public libraries tend to place a higher priority on support goal with instrumental value over output goal, the terminal value of the public library. This is tantamount to a displacement of goals. 2. Personal characteristics such as the age and the length of work experience appear to influence their present perception of actual goal at large. On the other hand, the formal qualification as librarian and special features regarding the job hierarchy seem to affect the areas of support goal within the actual goal. 3. Perception of preferred goal is affected mainly by formal qualification as librarian among their personal characteristics. 4. There is a significant difference between the staff's perception of actual and preferred goals in the large. Goal discrepancy which indicates the expectation of change and the degree of conflict in goals is very large as well.

• Journal of Environmental Science International
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• v.12 no.12
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• pp.1197-1206
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• 2003

As growing importance and concern of waterfront, we have tried to study its landscape, accessibility, landuse and so on as well as its environmentally sound and sustainable development. In fact we had been under the false thought that it always gaves what we wanted, and it was neglected in its economic value. This paper/looks at one alternative, the non-market value generated by management of waterfront as public resources. We consider the question : how much are people willing to pay to improve, how much are people want to improve\ulcorner The contigent valuation method was implemented during Sep. 9 to 14 in 3 beaches ; haeundae, Gwanganri, Songjeong. They are representative waterfronts which have been widely known and visited. We find out that households are willing to pay about 12,000-16,000 den per year for improving nature elements and inviting more valuable functions about 3 beaches. Especially Ive pay attention to difference between cognitive and comprehensive satisfaction 3 beaches and their substructural factors satisfaction such as natural environment, public facilities, recreational facilities and etc.

• Convergence Security Journal
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• v.13 no.5
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• pp.207-213
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• 2013

As the axis of the private security maintain social order in order to achieve the original purpose of all society must move in the direction of motion, and so in order to be a private security based philosophical values and ideological composition should be based. In this process, to be followed by private security value or direction, philosophy private security is the norm. In this regard, this study pursued by the private security justification ever truly normative principles are intended to establish. The public nature of the ideology of private security, public, efficiency, legality, responsiveness and the like. Conflict occurs between the value of these ideals, although complementary are in harmony.

• Journal of the Korea Institute of Building Construction
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• v.12 no.6
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• pp.682-700
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• 2012

Over the last several years, Korea has increasingly adopted design-build for public construction projects. There is a much greater awareness of the need to change to a system based on 'Value for Money', which is high on the government's agenda. A whole life performance bid evaluation model is proposed to aid decision makers in the selection of a design-builder. This is based on the integration of a framework using an analytic hierarchy process, as the bid awarding system is being changed from one based on the lowest price to one based on best value over the life-cycle. Key criteria such as whole life cost, service life planning and design quality are important through the key stages of the evaluation process. The model uses a systematic and holistic approach, which enables the public sector client to make better decisions in design-builder selection, which will deliver whole life benefits based on long-term cost-effectiveness.

• Asian Journal for Public Opinion Research
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• v.2 no.3
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• pp.140-171
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• 2015

As China's economic development brings the country out of poverty and into modernity, a long-lasting debate concerns whether the Chinese public's value system is also changing toward the so-called "modern values," or whether some distinctly traditional Chinese values remain unchanged. Using empirical data collected at three points in time during the 1990s and the first two decades of the 21st Century (1993, 2002, and 2011), I found that Chinese citizens who benefitted from urbanization, rising levels of education and employment in non-farm, knowledge-based industries displayed stronger modern values. People with stronger modern values are more likely to emphasize individual autonomy, competition, gender equality, and market transaction, among others. Some characteristics of the Chinese people, most importantly family values, however, seem to remain stable amidst rapid social changes.

• YAKHAK HOEJI
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• v.51 no.3
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• pp.186-193
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• 2007

This study was performed to analyse the economic value of abciximab which is used in PCI to prevent high-risk patients with ischemic complications. The effectiveness of abciximab was extracted from published clinical trials by search-ing CCIS, and the direct medical costs relevant to using abciximab were estimated from the NHI claims database. The results in terms of cost per life-year gained (LYG) and cost per QALY gained showed that abciximab was cost-effective enough to deserve its cost. Social net benefit resulting from abciximab in PCI was estimated to be 60-70 billion Won per year.