• Proceedings of the Korea Society for Industrial Systems Conference
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• 2008.10b
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• pp.365-384
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• 2008

Many studies on ASP outsourcing area have focused on the Critical Success Factors(CSFs) of ASP outsourcing projects or on the service quality of ASP Service. But these studies have limitations to explain how to succeed in doing ASP outsourcing project. The objective of this research is to overcome this limitation by using the concept of "IT Risk" in Outsourcing. The effective control of the risks-caused during the IS outsourcing process-gives (ASP service using) users a powerful tool to minimize the risks and thus maximizes the possibility of ASP outsourcing project success. In order to perform this objective, this research set up the research model which is composed of three concepts. The three concepts are 1. Undesirable Outcomes(:UO) as IT outsourcing Risks, 2. The Source of Risks(:SOR) influencing the UO, and 3. the intention to get/execute Real Option Portfolio to control the risk level of SORs and UOs. This research has some important and interesting implications on the ASP outsourcing area. First, this research classifies the risk factors as three concepts and finds the interactions among them. Second, Using Real Option portfolio can control the risks effectively occurred during outsourcing projects. Third, Vendors(ASP service providers) can offer users IN TIME the options which can minimize the occurrence of risks.

• 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.

• Environmental and Resource Economics Review
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• v.20 no.1
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• pp.61-98
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• 2011

This study conducts economic evaluation of alternatives for $CO_2$ reduction of thermal power plants. Two alternatives in reducing $CO_2$ emission are considered for the evaluation under the RPS(Renewable Portfolio Standard) system; one is to perform renewable energy quotas and another is to construct green thermal power plants using CCS(Carbon Capture and Sequestration). As evaluation methods, DCF(Discount Cash Flow) and ROPM(Real Options Pricing Method) are employed. At a discount rate of 7.5% applied to the Electricity Supply and Demand Plan, it is shown that green thermal power generation has economic dominance under both evaluation methods.

• Environmental and Resource Economics Review
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• v.28 no.1
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• pp.95-120
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• 2019

As the Nagoya Protocol has been in effect since 2014, firms that invest in projects related with the genetic resources should establish methods to share the benefits arising from using genetic resources with the country providing such resources. The objective of this paper is to investigate the factors that affect the genetic resources related investment decisions under the Nagoya Protocol. Specifically, we construct the model of Sharpley value and benefit sharing rate in order to consider the results of benefit sharing with a providing country under the Real Options, and simulate the model in the context of Madagascar Banana project. The results show that the product time to market, benefit sharing rate, and discount rate significantly influence the investment decisions.

• Journal of Korean Society of Water and Wastewater
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• v.23 no.5
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• pp.583-598
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• 2009

From the engineering standpoint, this study puts a special emphasis on application of adaptive management. To do this, we analyze the recent issue about water scarcity of the Gwangdong dam. Using the system dynamics model, we defined the system including water balance in the dam, dam manager's operation rules, regional water supply and local water distribution, and customer damage. It was expected that the model is useful to explain the real case, and also water scarcity of Gwangdong led to total damage of about 2.56 billion won, mainly to customers in the Taebaeck city. Two adaptive management options (i.e., optimal allocation of limited water resources, and early control of dam storage) were applied to the model in order to examine whether adaptive management is effective to mitigate the damage, it is concluded that the case study could largely reduce or entirely avoid the damage with adaptive engineering options.

• Proceedings of the Korea Committee for Ocean Resources and Engineering Conference
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• 2006.11a
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• pp.277-280
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• 2006

Most real world design evaluation and risk-based decision support combine quantitative and qualitative (linguistic) variables. Decision-making based on conventional mathematics that combines qualitative and quantitative concepts always exhibit difficulty in modelling actual problems. The successful selection process for choosing a design/procurement proposal is based on a high degree of technical integrity, safety levels and low costs in construction, corrective measures, maintenance, operation, inspection and preventive measures. However, the objectives of maximising the degree of technical performance, maximising the safety levels and minimising the costs incurred are usually in conflict, and the evaluation of the technical performance, safety and costs is always associated with uncertainties, especially for a novel system at the initial concept design stage. In this paper, a design-decision support framework using a composite structure methodology grounded in approximate reasoning approach and evidential reasoning method is suggested for design evaluation of machinery space of a ship engine room at the initial stages. It is a Multiple Attribute Decision-Making (MADM) or Multiple Criteria Decision Making (MCDM) framework, which provides a juxtaposition of cost, safety and technical performance of a system during evaluation to assist decision makers in selecting the winning design/procurement proposal that best satisfies the requirement in hand. An illustrative example is used to demonstrate the application of the proposed framework.

• The Korean Journal of Applied Statistics
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• v.26 no.1
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• pp.187-200
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• 2013

In this paper, we deal with the problem of deciding a hedging volatility for ATM plain options when we hedge those options based on geometric Brownian motion. For this, we study the relation between hedging volatility and hedge profit&loss(P&L) as well as perform Monte Carlo simulations and real data analysis to examine how differently hedge P&L is affected by the selection of hedging volatility. In conclusion, using a relatively low hedging volatility is found to be more favorable for hedge P&L when underlying asset prices are expected to be range bound; however, a relatively high volatility is found to be favorable when underlying asset prices are expected to move on a trend.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.917-929
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• 2021

This study highlights the importance of remittance, the factors which affect the percentage of income remitted, and the investment options available to reduce remittance. For the year 2019, the remittances from Oman totaled $9.1 billion. Oman was among the top remitters with remittance to gross domestic product (GDP) ratio of 11.9%. A survey was conducted on 300 resident expats in Oman. The descriptive analysis shows that the maximum remittance percentage is between 21%-40% of income. The multinomial logistic regression results show that outward remittance depends on gender, age, occupation, number of dependent in Oman, and the number of dependent in the home country. Regarding investment, the most preferred investment option is business, followed by real estate and financial services. Age and education are found to affect investment options. This paper tries to fill the literature gap, especially for the case of Oman, by exploring what determines the level of remittance and the preferred choices for retaining funds. This study adds to the existing literature, as no previous study is available regarding how personal factors can influence the level of remittance and investment in a small oil-exporting developing country like Oman. The study will be helpful to policymakers and academicians in devising policies to retain and invest the outwards remittances in Oman.

• Korean Journal of Clinical Pharmacy
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• v.32 no.4
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• pp.336-351
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• 2022

Background: Prader-Willi Syndrome (PWS) is a rare genetic disorder. To improve the health deterioration of PWS, investigating optimal treatment options for PWS is required. Thus, we aimed to evaluate the efficacy of pharmacotherapies compared with supportive care or placebos in patients with PWS. Methods: PubMed and EMBASE databases were used to search for randomized controlled trials (RCTs) evaluating the efficacy of pharmacotherapy in PWS patients. Only RCTs that evaluating the efficacy of pharmacotherapy in PWS patients were retrieved. Results: A total of 26 studies were included to evaluate body composition, hormones, glucose levels and hyperphagia behavioral status. Pharmacological treatment group showed a significant decrease of body fat (mean difference (MD): -6.32, 95% confidence interval (CI): -10.58 to -2.06, p=0.004), a significant increase of lean body mass (LBM) (MD: 1.86, 95% CI: 1.43 to 2.30, p<0.00001) and insulin-like growth factor 1 (IGF-1) levels (MD: 241.62, 95% CI: 68.59 to 414.64, p=0.006) compared with the control group. Nevertheless, based on other outcomes evaluated by the current systematic review, pharmacological options showed different efficacy in treating PWS. Conclusion: Pharmacological therapies were effective to decrease significantly in body fat and increase significantly on LBM and IGF-1 levels in patients with PWS. However, still, individualized therapies should be considered in real-world practice in PWS treatment.

• Proceedings of the Korean Society of Machine Tool Engineers Conference
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• 1999.10a
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• pp.119-124
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• 1999

This paper presents new approach to technology pattern recognition of camera back cover and test of soldering. In real-time implementing of pattern recognition camera back cover and test of soldering, the MVB-03 vision board has been used. Image can be captured from standard CCD monochrome camera in resolutions up to 640$\times$480 pixels. Various options re available for color cameras, a synchronous camera reset, and linescan cameras. Image processing os performed using Texas Instruments TMS320C31 digital signal processors. Image display is via a standard composite video monitor and supports non-destructive color overlay. System processing is possible using c30 machine code. Application software can be written in Borland C++ or Visual C++