• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.21 no.48
• /
• pp.37-52
• /
• 1998

In many distribution systems important cost reductions and/or service improvements may be achieved by adopting an efficient inventory policy and proper selection of facilities. These efficiency improvements and service enhancements clearly require an integrated approach towards various logistical planning functions. The areas of inventory control and transportation planning need to be closely coordinated. The purpose of this paper is to construct an integrated model that can minimize the total cost of the transportation and inventory systems between multiple origin and destination points, where in origin point i has the supply of commodities and in destination point j requires the commodities. In this case, demands of the destination points are assumed random variables which have a known probability distribution. Using the lot-size reorder-point policy and the safety stock level that minimize total cost we find optimal distribution centers which transport the commodities to the destination points and suggest an optimal inventory policy to the selected distribution center. We also show if a demand greater than one unit will occur at a particular time, we describe the approximate optional replenishment policy from computational results of this lot-size reorder-point policy. This model is formulated as a 0-1 nonlinear integer programming problem. To solve the problem, this paper proposes heuristic computational procedures and a computer program with UNIX C language. In the usefulness review, we show the meaning and validity of the proposed model and exhibit the results of a comparison between our approach and the traditional approach, respectively.

• Journal of Hydrogen and New Energy
• /
• v.27 no.4
• /
• pp.447-461
• /
• 2016

Recently, the Renewable Fuel Standard(RFS) has been commenced from July 31, 2015 in the New and Renewable Energy Act for expanding the supply of renewable energy and reduction of national GHG target in Korea. The biodiesel is only a means of implementation for the RFS, therefore the biodiesel supply expansion is important for fulfilling the RFS obligation policy. The major key points of the biodiesl supply are expanding domestic feedstocks due to the over 60% dependence on foreign feedstock and reducing the price of feedstock because of the over 70% occupation of feed stock price in the biodiesl production cost. Therefore, we estimated actual amount of potential feedstocks which are possible to use for biodiesl production in Korea and investigated technical and political improvements for expanding biodiesl. For estimating a potential feedstocks, first selected the potential biodiesl feedstocks by investigating the status of global biodiesl feedstocks and then analyzed the possible potential amount of each feedstock by surveying the generation situations, the distribution structures and the technical level.

• Journal of Distribution Science
• /
• v.17 no.12
• /
• pp.5-12
• /
• 2019

Purpose - In this paper, we examine the effect of accrual earnings management and real earnings management on the corporate value of retail corporations. Research design, data, and Methodology - The sample cover firms whose settlement is December among retail companies listed on the Korea Stock Exchange's securities market and KOSDAQ market from 2001 to 2016. Of these, the targets were companies with operating profit and equity capital of zero or higher and with sales data. The secondary data was collected through KIS-VALUE data base. The Jones model and the modified Jones model were used for the calculating the accrual-based earnings management and the real earnings management. Result - According to the empirical results, the relationship between accrual earnings management, real earnings management and firm value is positively significant in the retail industry as in manufacturing industry. These results are also significant when controlling the size, profitability, investment, debt ratio, dividend, and growth potential of a company. Conclusions - The characteristics of the distribution business can be identified and the influence of the various kinds of earnings management, which is being researched around the manufacturing industry, can be studied in the distribution industry to give practical implications to investors.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.3
• /
• pp.131-140
• /
• 2019

The study aims to examine the impact of productivity in addition to the policy of increasing the foreign investors' ownership rate on the performance of businesses which were listed on Vietnam's stock exchange market from 2010 to 2017. With the database of 3.961 observations, the study employs a statistical method - multiple regression to estimate the relationship between labor productivity, foreign ownership as well as other firm-level characteristics and firm performance. Research findings show that increasing labor productivity and increasing foreign ownership rates help increase firm performance. In addition, except for financial leverage, variables such as liquidity and firm size have positive effects on firm performance measured by Tobin's Q. These findings have theoretical contributions and practical implications for managers, investors and government in Vietnam. Managers should pay attention to improving labor productivity through employing incentive mechanisms, building a good working environment, investing in technology, etc. in order to enhance the firm performance. Investors could utilize the labor productivity and foreign ownership indicators to select stocks of good companies for investment. For Vietnamese government, relaxing the limit of foreign ownership and accelerating the divesting of State capital in State-owned enterprises could help increase the investment scale of foreign investors and resulting in positive effects on the firm performance.

• Journal of Environmental Health Sciences
• /
• v.27 no.2
• /
• pp.51-59
• /
• 2001

Song stream is located in the upstream of the Namhan River. Normal times, the stream flows down to the east sea through the drainage pipe but at rainy season, it flows to the Namhan River. There are large stock farm, leisure town and cultivated land in this basin. The pollutants from these contamination source cause eutrophication at lake Doam and deterioration of water quality in namdai stream. In this case, this study was carried out to evaluate water quality and environmental capacity as well as economical efficiency of each industry. The basin shape factor of subject stream was 0.315, slope is higher than usual basin. The BOD, T-N and T-P productive contamination loading from each contamination source was 2,690, 974 and 194 kg/day, respectively, and major contamination source was stock farm and cultivated land. Annual BOD, T-N, T-P distribution(median value) of Song stream showed 1.0~2.2 mg/L, 3.16~5.85 mg/L and 0.024~0.197 mg/L Doam lake showed 1.1~1.9, 2.51~3.89 and 0.042~0.114 mg/L, respectively. Being compared of water quality at main stream between past and present, it showed that the water quality has improved since last five years. BOD improvement rate was 8~50%. Run off loading of BOD, T-N, T-P was 366, 1129, 17.2 kg/day, and run off rate was 13.6%, 86.2%, 11.3% respectively. Finally, the result of productivity survey of each industry, leisure town, cultivated land and large stock farm was 118, 46, 50 billion won, per T-P 1kg productive, and productivity portion was 100, 39, 42% respectively, and the highest economical efficiency industry was leisure facilities.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.873-882
• /
• 2021

The study investigates the key factors that affect the adoption of the International Financial Reporting Standards (IFRS) by companies listed on Ho Chi Minh Stock Exchange (HOSE) in Vietnam. The factors that are studied in this research include total debt-to-equity ratio, firm size, return-on-equity ratio, audit quality, foreign investment, and financial institution category. The authors have utilized quantitative and qualitative analyses in combination with a logistics regression model and other available analytical tools for conducting the research. All statistics processed in the paper were based on 379 audited financial statements issued in 2018. The results reveal that factors like firm size, return on equity (ROE), audit quality, foreign investment, and financial institution category positively affect the IFRS adoption of HOSE-listed companies, while total debt-to-equity ratio negatively impacts the adoption. The findings suggest Vietnamese law and policy-makers, when promoting the adoption of IFRS by listed companies, should focus more on five variables with positive influence and they can disregard the total debt-to-equity ratio that is insignificant as a factor affecting the adoption of IFRS. This implication could be applied for other firms in Vietnam and for enterprises in other countries, which are in the same stage of IFRS application.

• Environmental and Resource Economics Review
• /
• v.30 no.4
• /
• pp.535-555
• /
• 2021

This study empirically analyzes the effects of international oil prices on domestic stock market volatility. The data used for the analysis are 10-minute high-frequency data of the KOSPI index and WTI futures price from January 2, 2015, to July 30, 2021. For using the high-frequency data, a heterogeneous autoregression (HAR) model is employed. The analysis model utilizes the advantages of high frequency data to observe the impact of international oil prices through realized volatility, realized skewness, and kurtosis as well as oil price return. In the estimation, the Box-Cox transformation is applied in consideration of the distribution of realized volatility with high skewness. As a result, it finds that the daily return fluctuation of the WTI price has a statistically significant positive (+) effect on the volatility of the KOSPI return. However, the volatility, skewness, and kurtosis of the WTI return do not appear to affect the volatility of the KOSPI return. This result is believed to be because the volatility of the KOSPI return reflects the daily change in the WTI return, but does not reflect the intraday trading behavior of investors.

• Proceedings of the Korean DIstribution Association Conference
• /
• 2007.11a
• /
• pp.155-178
• /
• 2007

The purpose of this study is to provide the strategic implication of the Korean open air market by examining the factors affecting their competitiveness. I have undertaken empirical research that uses the methodology of a mixture regression modeling, as a way to ascertain the determinants of competitiveness for the Korean open air market. I construct a mixture regression model which uses the proportions of merchandise categories as explanatory variables and the number of visitors as a dependent variable. The analysis of results show that competitive and non-competitive markets have different proportions of merchandise categories. The finding shows that stock farm products and home appliances are major influencers on the number of visitors in neighborhood markets. The finding also presents that stock farm products and processed foods are major influencers on the number of visitors in small & medium-sized city markets.

• Ocean and Polar Research
• /
• v.23 no.4
• /
• pp.425-431
• /
• 2001

From an ecological point of view, the western part of the Atlantic sector is one of the most productive areas in the Southern Ocean. Antarctic krill (Euphausia superba) and krill-dependent predators such as fish, seals, and birds are abundant there, and most krill fisheries have operated in this area since 1970s. The hottest issues for the proper management of krill resources nowadays are to determine total biomass in this area, and to identify environmental forces controlling stock fluctuation. This paper reviews and collates information on ongoing oceanographic activities in the Antarctic Peninsula region concerning these issues. To delineate the status and function of Antarctic krill population in Antarctic marine ecosystems, multinational researches along the Antarctic Peninsula area have been developing recently. Four member states of CCAMLR (Japan, Russia, UK, and USA) had conducted acoustic surveys in January-February 2000 (socalled CCAMLR-2000 survey), and krill standing stock at 120 kHz was estimated to be 44.29 million metric tonnes in the western Atlantic sector of the Southern Ocean. On the other hand, the Southern Ocean GLOBEC (SO-GLOBEC) Programme has prepared a serial winter survey to examine the factors that govern krill survivorship and distribution in relation to shelf circulation processes. Ship-based surveys using ice-breakers are being conducted by three nations (Germany, UK, and USA) around the Marguerite Bay during the austral fall and winter 2001 and 2002. In addition to these two large-scale surveys, some CCAMLR members have carried out joint oceanographic surveys near the South Shetland Islands to detect ecosystem changes since 1994. Especially from December 1999 to February 2000, in conjunction with CCAMLR-2000 survey, four nations (Japan, Korea, Peru, and USA) conducted acoustic surveys to produce time-series information on krill distribution and biomass near the South Shetland areas. Though the aims of each program and the approach to solve the scientific questions were different each other, the results from each program fill the gaps between programs. Further cooperation and exchange in these activities could be beneficial to each program.

• Korean Journal of Fisheries and Aquatic Sciences
• /
• v.50 no.4
• /
• pp.421-428
• /
• 2017

The spatial distribution and abundance of fish species was estimate near Dok-do, East Sea of Korea by conducting midwater trawl survey with hydroacoustic method. Acoustic and midwater trawl data were collected onboard the R/V Tamgu 21 during 7-8 March 2016. Acoustic data were collected at the frequencies of 38 and 120 kHz and converted to nautical area scattering strength ($m^2/nmile^2$). Species are distributed mainly over an extent of 30-55 m, generally around southwest of Dok-do; the squid Watasenia scintillans was the dominant species found. The length-weight function and target strength of squid and other fishes were used to estimate the W. scintillans stock at 2499.1 tons and other fish at 43.8 tons during the winter season. The hydroacoustic method offers an approach for the determination of the biomass and vertical and spatial distributions of species aggregating near Dok-do, East Sea of Korea.