• Title/Summary/Keyword: Return Level

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A STUDY ON THE RATE OF RETURN OF PRIVATE INFRASTRUSTURE INVESTMENT PROJECT

  • Young-Min Park;Soo-Yong Kim;Hyo-Soo Hwang
    • International conference on construction engineering and project management
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    • 2005.10a
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    • pp.1244-1249
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    • 2005
  • Present PII(Private Infrastructure Investment) in Korea has increased up to 11% compared to the year 2003 and is expected to increase in the future. In spite of its rapid increase, we don't have any definite standard or system which distinctly presents the rate of return for domestic PII yet, and practical and scientific research is not sufficient compared to its necessity and importance. Hence, in this study we suggests methods to estimate the rate of return of PII to promote SOC PII to last successfully and present the proper level of rate of return of PII which is appropriate for domestic situations through diverse analysis. Therefore, to present reasonable rate of return, we have used 5 methods: previous research analysis, case study, financial index analysis, analysis of investor's rate of return, and analysis of rate of return in a real estate market. After comparing and analyzing these methods, at the end, we have presented the appropriate level of rate of return of PII, which can be applied in the domestic market.

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Do good return policies work across cultures? Effect of lenient return policies on online shopper perceptions in Eastern culture

  • Yang, SuJin;Choi, Yun Jung
    • Asia Marketing Journal
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    • v.15 no.2
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    • pp.75-97
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    • 2013
  • While good return policies are suggested as one of the critical services for e-commerce, ambivalence between the burden of the cost and shoppers' satisfaction may prevent e-tailers from increasing their level of leniency. Based on the S-O-R model, this study has attempted to develop a grounded theory to explain how lenient return policies shape online shoppers' perceptions and responses, with a focus on cultural influences in the relationship. In order to check the cultural effects of the lenient return policy, thirty two female and eleven male undergraduate students in South Korean shoppers, who are accustomed to strict return policies, participated in the semi-structured interview. A series of open-ended questions were designed to explore consumers' reactions toward four different levels of the lenient return policy: from the strict type in South Korea to the lenient type in the U.S. Using qualitative research methods, this research has defined three types of dimensions of lenient return policy: return possible period, complexity of progress, and other restrictions. While previous researchers did not pay much attention, the last dimension, other restrictions, is shown to be the most significant in influencing online shoppers' perceptions, especially in South Korea. Also, the impacts on online shoppers' perceptions from the three types of sub-dimensions of return policy were somewhat different. Whereas a longer return possible period was considered more favorable, a medium level of complexity and restrictions were considered more desirable. In summary, this result showed that shoppers in Eastern cultures, i.e. South Korean online shoppers, seem favorable to a medium level of lenient return policies, while allowing for taking precautions against possible fraudulent behaviors and setting other restrictions. Therefore, most of retailers in South Korea recommended that e-tailers who adopt the most lenient return policies raise the bar to guard ethical shoppers from fraudulent users. Next, lenient return policies can enhance ease of use, usefulness, affect, and trust while relieving perceived risk, which is connected to intention to purchase, satisfaction, and loyalty. Interestingly, lenient return policies are more likely to change the behavioral responses of online shoppers, such as return and purchase, rather than change their attitudes or beliefs such as image, satisfaction, and loyalty. This tendency can be seen more clearly in the direct influences of return policy on responses. The reaction to lenient return policy is mostly the intention to return or to purchase. This suggests that return policy serves the e-tailers as a powerful tool in increasing online shoppers' purchase intention at the moment of purchase. Therefore, e-tailers who plan to expand their market to eastern countries, including South Korea, have to build a shield of restrictions around their lenient return policy, rather than immediately applying their original liberalized return policy. Also, e-tailers in South Korea need to review their strict and undifferentiated return policies to deal with the unsatisfied reactions of online shoppers toward their normal return policies. Although the present study was confined to the return policies currently being practiced by popular e-tailers, it would be worthwhile to develop effective return policies separately for each country, especially South Korea, keeping the culture of the relevant country in mind.

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System Dynamics Approach to Return Policy at Supply Chain (공급체인에서의 반품계약에 대한 시스템다이내믹스 접근)

  • Kim, Tae-Hyun;Park, Jeong-Hoonl;Choi, Dong-Hyun;Kim, In-Hoo
    • Korean System Dynamics Review
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    • v.8 no.1
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    • pp.173-186
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    • 2007
  • This research consists of (1) building (or molding) the Dynamics Simulation Model on Return Policy mainly used in publications, phonographs, and computer industry; which are seen used in supply chain contract known as effective control mechanism under the varied supply chain situations, and (2) analyzing the effects that return rates and seller's contract parameters have in the outcome of the model and (3) observing how the effectiveness of Return Policy changes under such circumstances where the buyer's sales ability and the seller's risk inclination are taken into account. Thus, the main purpose of this research lies in analyzing what exactly are the effects (and or outcome) that sales ability and risk inclination have in Return Policy, and additionally by conducting comprehensive research on Supply Chain Policy Dynamics Simulation Model, we will try to prove that not only the Systems Dynamics approach is highly contributive in supply chain management but also that it will serve as a foothold in future research. As a result of the research, supply chain achievement level turned out to be high when Return Policy is enforced, and the achievement level was even higher when seller's sales ability was taken into consideration along with the Return Policy. On the other hand, the achievement level decreased when the seller had risk aversive tendencies.

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The Effect of Allocation to Third Parties in Increase of Capital on Stock Price of KOSDAQ Firms (코스닥기업의 제3자 배정 증자가 주가에 미치는 영향)

  • Cho, Sang-Kwon;Kang, Ho-Jung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.13 no.4
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    • pp.1640-1647
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    • 2012
  • The allocation to third parties in increase of capital is increasing in KOSDAQ firms. With this trend, they cause many problems which involves stock price manipulation. Under this condition, this study analyzes stock price reaction by event study to 197 cases of 81 KOSDAQ companies that allocated to third parties in increase of capital between the year of 2007 and 2009. And we find determinants of cumulative abnormal return by using multiple regression. Results of this research are as follows. First, in case of excess return of (-5, +5), it reveals positive excess return significantly at 1% significance level during 4 days before payment day(event day). But it reveals negative excess return significantly at 1% significance level during 5 days after payment day. Second, in case of excess return of (-40, +40), it reveals positive excess return significantly at 1% significance level during 40 days before payment day(event day). But it reveals negative excess return significantly at 1% significance level during 40 days after payment day. Third, in case of excess return of (0, 1 year), it reveals negative excess return significantly at 1% significance level during 1 year after payment day. Fourth, significant determinant of cumulative abnormal return to (-5, +5) was firm size with positive effect. Significant determinants of cumulative abnormal return to (-40, +40) were reserve ratio and debt ratio. Reserve ratio has positive effect But debt ratio has negative effect. Significant determinants of cumulative abnormal return to (0, 1 year) were firm size, debt ratio, reserve ratio. equity ratio to large shareholder. Firm size, debt ratio, equity ratio to large shareholder have negative effect. But reserve ratio has positive effect.

The conditional risk probability-based seawall height design method

  • Yang, Xing;Hu, Xiaodong;Li, Zhiqing
    • International Journal of Naval Architecture and Ocean Engineering
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    • v.7 no.6
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    • pp.1007-1019
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    • 2015
  • The determination of the required seawall height is usually based on the combination of wind speed (or wave height) and still water level according to a specified return period, e.g., 50-year return period wind speed and 50-year return period still water level. In reality, the two variables are be partially correlated. This may be lead to over-design (costs) of seawall structures. The above-mentioned return period for the design of a seawall depends on economy, society and natural environment in the region. This means a specified risk level of overtopping or damage of a seawall structure is usually allowed. The aim of this paper is to present a conditional risk probability-based seawall height design method which incorporates the correlation of the two variables. For purposes of demonstration, the wind speeds and water levels collected from Jiangsu of China are analyzed. The results show this method can improve seawall height design accuracy.

The Effect of Liquidity Risks on the Relationship between Earnings and Stock Return on Jordanian Public Shareholding Industrial Companies

  • SHAKATREH, Mamoun
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.4
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    • pp.21-28
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    • 2020
  • The objectives of this study are threefold: 1) to identify the concepts of earnings, stock return and liquidity risks on public shareholding industrial companies listed in the Amman Stock Exchange, 2) to investigate the relationship between earnings, stock return, strength and direction of this relationship, and 3) to find out the effect of liquidity risks at stock return and the effect of liquidity risks on the relationship between earnings and stock return on Jordanian public shareholding industrial companies. To achieve the objectives, an analytical descriptive approach was used. As the data on the public shareholding industrial companies listed in the Amman Stock Exchange were accredited by 52 companies for the period between 2014-2019, data validation tests and their suitability for analysis were considered. A linear regression test was used to test the study hypotheses on the statistical analysis program. The results show that there is a positive and significant correlation at significance level between the earnings and stock return. The results of the study also showed that there is a statistically significant negative effect at significance level of liquidity risk on stock return. In addition, it was demonstrated that liquidity risks have significant negative effects on the relationship between earnings and stock returns.

Effects of Hypovolemic Hypotension on Cardiopulmonary Functions and Acid-Base Balance (출혈성 쇼크가 심폐기능 및 산.염기평형에 미치는 영향)

  • Sou, Won-Young;Lee, Sung-Haing
    • Journal of Chest Surgery
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    • v.6 no.2
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    • pp.131-142
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    • 1973
  • Studies of cardiopulmonary function and acid-base balance were performed on 29 dogs during control period, during oligemic hypotension and following return of blood to the animals. Intravenous morphine and local anesthesia were used. Fifteen of the 29 animals survived the complete experiment. The 14 animals that failed to survive the experimental period died between 15 to 90 minutes after the onset of bleeding. The results were as follows. 1. The heart rate increased after the onset of bleeding and failed to return to control level following reinfusion. Stroke volume decreased markedly after bleeding and failed to recover after return of blood from the reservoir. Cardiac output also decreased during oligemic hypotension and was maintained at this level after re-infusion. Total peripheral resistance decreased significantly immediately after bleeding, however it increased soon over the pre-bleeding level. Central venous pressure decreased after the onset of bleeding and remained at lower level for the rest of the experimental period. Arterial blood pressure, clown to 40-45 mmHg by acute hemorrhage, was elevated near to control level. Left ventricular work decreased tremendously during oligemic hypotension and failed to return to control level with the re-infusion of blood. Hematocrit value showed no significant decrease after bleeding and increased after re-infusion. Hemoglobin decreased after the onset of bleeding and recovered to control value after re-infusion. 2. The respiratory rate fell rapidly after bleeding from 124 to 29 and remained at this lower level for the remainder of the experiment. The tidal volume increased after bleeding and was maintained at this level for the remainder of the experiment. The respiratory minute volume showed no significant changes throughout the experimental period. Oxygen consumption fell lightly in all animals during oligemic hypotension and returned to normal levels following re-infusion. Arterial oxygen content and arterial oxygen saturation decreased following bleeding and the values returned to normal levels after the return of blood from the reservoir The arterio-venous oxygen difference increased after the onset of bleeding. It failed to return to normal values following re-infusion. Arterial $Pco_2$ decreased in all animals after the beginning of the bleeding. Partial pressure of $Co_2$ continued to fall until re-infusion, after which the values returned toward normal. Animals became acidotic. The pH fell to lower level following bleeding. Lactic acid and lactate: pyruvate ratio also increased during same period. Arterial pH and lactic acid failed to return to control value and lactate: pyruvate ratio increased more after re-infusion. Sodium bicarbonate decreased after bleeding and returned to control value following re-infusion.

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Golf participation after rotator cuff repair: functional outcomes, rate of return and factors associated with return to play

  • Thomas R Williamson;Patrick G Robinson;Iain R Murray;Andrew D Murray;Julie M McBirnie;C Michael Robinson;Deborah J MacDonald;Nicholas D Clement
    • Clinics in Shoulder and Elbow
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    • v.26 no.2
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    • pp.109-116
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    • 2023
  • Background: Golf is a popular sport involving overhead activity and engagement of the rotator cuff (RC). This study aimed to determine to what level golfers were able to return to golf following RC repair, the barriers to them returning to golf and factors associated with their failure to return to golf. Methods: Patients preoperatively identifying as golfers undergoing RC repair at the study centre from 2012 to 2020 were retrospectively followed up with to assess their golf-playing status, performance and frequency of play and functional and quality of life (QoL) outcomes. Results: Forty-seven golfers (40 men [85.1%] and 7 women [14.9%]) with a mean age of 56.8 years met the inclusion criteria, and 80.1% were followed up with at a mean of 27.1 months postoperatively. Twenty-nine patients (76.3%) had returned to golf with a mean handicap change of +1.0 (P=0.291). Golf frequency decreased from a mean of 1.8 rounds per week preinjury to 1.5 rounds per week postoperatively (P=0.052). The EuroQol 5-dimension 5-level (EQ-5D-5L) index and visual analog scale (EQ-VAS) score were significantly greater in those returning to golf (P=0.024 and P=0.002), although functional outcome measures were not significantly different. The primary barriers to return were ipsilateral shoulder dysfunction (78%) and loss of the habit of play (22%). Conclusions: Golfers were likely (76%) to return to golf following RC repair, including mostly to their premorbid performance level with little residual symptomatology. Return to golf was associated with a greater QoL. Persistent subjective shoulder dysfunction (78%) was the most common barrier to returning to golf.

Performance Analysis for Optimizing Threshold Level Control of a Receiver in Asynchronous 2.5 Gbps/1.2 Gbps Optical Subscriber Network with Inverse Return to Zero(RZ) Coded Downstream and NRZ Upstream Re-modulation

  • Park, Sang-Jo;Kim, Bong-Kyu
    • Journal of the Optical Society of Korea
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    • v.13 no.3
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    • pp.361-366
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    • 2009
  • We propose the performance enhancing method optimization of an asynchronous 2.5 Gbps/1.25 Gbps optical subscriber network with inverse RZ (Return to Zero) coded downstream and NRZ (Non Return to Zero) upstream re-modulation by adjusting threshold level control of a receiver. We theoretically analyze the BER (Bit Error Rate) performance by modeling the occurrence of BER by simulation with MATLAB according to the types of downstream data. The results have shown that the normalized threshold level in an optical receiver could be saturated at 1/3 as the SNR (Signal to Noise Ratio) increases. The needed SNR for obtaining the BER $10^{-9}$ can be reduced by $\sim$5 dB by optimizing the normalized threshold level at 1/3 instead of by using the conventional receiver with threshold level of 0.5. The proposed system can be a useful technology for asynchronous optical access networks with asymmetric upstream and downstream data rates, because the improved minimum receiving power could replace a light source with a source with lower power and lower cost in an OLT (Optical Line Termination).

Money's Worth Analysis of National Pension : Are Returns on National Pension' Contributions Fair? (국민연금에 대한 수익분석 : 국민연금급여는 과연 보험료에 대한 공평한 수익인가?)

  • Kwon, Mun-Il
    • Korean Journal of Social Welfare
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    • v.41
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    • pp.43-67
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    • 2000
  • The main source in financing the National Pension benefits is the contribution raised from the insured's earnings. So, Most of the insured take a great interest in the questions of what return on the payment of contribution National Pension benefits provide and whether there be the difference in return according to earnings level. The Purpose of this study is to assess money's worth of National Pension and to answer the above questions. There are two basic types of money worth analysis, empirical and hopothetical. This study basically belongs to the former in terms that it is based on actual earnings and insured term. For performing money's worth analysis, four different measures which are referred as the "break-even period", the "benefit/tax ratio", the "net lifetime transfer", the "internal rate of return" are used and they all involve the way in which the relationship between the present value of contributions and the present values of benefit is present. The results which evaluate average money's worth of accrued rights before 1999 are le as follows. Break-even period is about 43 months, benefit/tax ratio being 4.9, net lifetime transfers being about 37 mil1ion won, internal rate of return being 33.2%. This verifies that money' worth of National Pension is much higher than actuarially fair. In the mean while, money' worth is proved to be very different according to earnings level. The progressivity relationship between earnings level and rate of return is found in all measures but net lifetime transfer.

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