• 대한안전경영과학회지
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• 제24권2호
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• pp.127-134
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• 2022

Production management in the automobile parts industry is carried out according to the production plan of the customer, so it is important to prevent shortages in product supply. As the product composition became increasingly complex, the MES System was built for the purpose of efficient production plan management and inventory management, but its utilization is low. This study analyzed the problems of the MES system and sought to improve it. Through previous studies, it was confirmed that the inventory management of the pull approach that actually occurred in the warehouse is more suitable than the push approach based on the forecast of the warehouse for the volatility, complexity, and uncertainty of orders in the auto parts industry. To realize this, we tried distributed MRP by using the ADO function of VBA to link the standard information of the MES system with Excel and change the structure of the BOM table. Through this, it can help increase the accuracy of production planning and realize efficient inventory management, thereby increasing the utilization of the MES system in the auto parts industry and enhancing the competitiveness of the company.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.865-873
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• 2021

COVID-19 pandemic has brought the world into economic recession. This study aims to present an analysis of the readiness of creative e-commerce in Indonesia. Data was collected from various locations that may represent the Creative Industry in Indonesia. The quantitative method has been applied as a research approach by gathering questionnaires from 383 business owners selected using the cluster random sampling method. Based on the results of the analysis and discussion, it is concluded that E-Commerce Readiness is very important in times of uncertainty such as the COVID-19 pandemic. The level of readiness will determine the continuity and sustainability of a company or business in a volatile business environment. E-Commerce Readiness can be evaluated based on Technology Readiness, Organizational Readiness, and Environmental Readiness. Not all perspectives are taken into consideration in making decisions about the implementation or improvement of E-Commerce in the pandemic period. Technology Readiness is seen as the most significant impact on a company's ability to cope with volatility, while Environmental Constraints encourage businesses to adopt E-Commerce and take it to the next level. On the other hand, Organizational Readiness has no effect on the E-Commerce readiness of the company because the company or organization does not consider this aspect.

• East Asian Economic Review
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• 제23권4호
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• pp.353-379
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• 2019

This paper aims to determine factors causing the stagnation of Korean firms' fixed investment after the global financial crisis, using panel data for the period of 1999-2016. Fixed investment remained sensitive to cash flow and Tobin's q although their effects decreased after the global financial crisis. A decreasing trend of cash flow and an increase in Tobin's q since the early 2000's imply that the worsening cash flow was a major factor behind the sluggish investment after the crisis. Meanwhile, debt-equity ratio remained significant for non-chaebol affiliated firms, reflecting disparity in access to external financing. Volatility of stock returns also became insignificant after the crisis, casting doubt on the argument that uncertainty was a major factor contributing to the decline of fixed investment. Analysis of financial investment confirmed the significant effect of cash flow, larger than that on financial investment than on fixed investment. In particular, debt repayment and other financial investment, except share repurchase, were sensitive to cash flow. However, the substitution of fixed investment by financial investment is a consequence, rather than a cause of declining fixed investment.

• 한국철도학회논문집
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• 제10권2호
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• pp.137-145
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• 2007

In traditional financial theory, the discount cash flow model(DCF or NPV) operates as the basic framework for most analyses. In doing valuation analysis, the conventional view is that the net present value(NPV) of a project is the measure of the present value of expected net cash flows. Thus, investing in a positive(negative) NPV project will increase(decrease) firm value. Recently, this framework has come under some fire for failing to consider the options of the managerial flexibilities. Real option valuation(ROV) considers the managerial flexibility to make ongoing decisions regarding the implementation of investment projects and the deployment of real assets. The appeal of the framework is natural given the high degree of uncertainty that firms face in their technology investment decisions. This paper suggests an algorithm for estimating volatility of logarithmic cash flow returns of real assets based on the Black-Sholes option pricing model, the binomial option pricing model, and the Monte Carlo simulation. This paper uses those models to obtain point estimates of real option value with the G7- HSR350X(high-speed train).

• Smart Structures and Systems
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• 제32권4호
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• pp.267-279
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• 2023

Data modelling and interpretation for structural health monitoring (SHM) field data are critical for evaluating structural performance and quantifying the vulnerability of infrastructure systems. In order to improve the data modelling accuracy, and extend the application range from data regression analysis to out-of-sample forecasting analysis, an improved most likely heteroscedastic Gaussian process (iMLHGP) methodology is proposed in this study by the incorporation of the outof-sample forecasting algorithm. The proposed iMLHGP method overcomes this limitation of constant variance of Gaussian process (GP), and can be used for estimating non-stationary typhoon-induced response statistics with high volatility. The first attempt at performing data regression and forecasting analysis on structural responses using the proposed iMLHGP method has been presented by applying it to real-world filed SHM data from an instrumented cable-stay bridge during typhoon events. Uncertainty quantification and correlation analysis were also carried out to investigate the influence of typhoons on bridge strain data. Results show that the iMLHGP method has high accuracy in both regression and out-of-sample forecasting. The iMLHGP framework takes both data heteroscedasticity and accurate analytical processing of noise variance (replace with a point estimation on the most likely value) into account to avoid the intensive computational effort. According to uncertainty quantification and correlation analysis results, the uncertainties of strain measurements are affected by both traffic and wind speed. The overall change of bridge strain is affected by temperature, and the local fluctuation is greatly affected by wind speed in typhoon conditions.

• 한국항만경제학회지
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• 제38권2호
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• pp.95-107
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• 2022

해운사는 화물수송을 통해 수입을 창출하며 그 수송의 근간이 되는 선박에 대한 투자의 의사결정이 그 무엇보다 중요하다. 그럼에도 불구하고 기존에는 모든 상황이 정태적으로 고정된 것으로 가정하는 경제성 분석 방법인 현금흐름할인법을 주로 활용하였다. 따라서 본 연구는 선박 투자의 비가역성과 편익의 불확실성을 고려하여 경제성 분석 시 실물옵션 모형이 유용함을 보여주는데 있다. 특히 본 연구는 실물옵션 중 이항옵션가격결정모형을 활용하였으며, A해운사의 실 투자자료를 활용하여 시뮬레이션을 진행하였다. 분석 결과, 현금흐름할인법 중 순현재가치법에 따른 중고선박의 투자가치는 음(-)으로 분석되었으나 의사결정의 유연성을 반영할 수 있는 이항옵션가격결정모형에서의 투자가치는 양(+)의 경제성이 있는 것으로 평가되었다. 또한 선박 투자의 경제성은 수익 변동성과 할인율에 영향을 받는 것으로 나타났다. 이에 해운사의 선박 투자의사 결정 시 기존 현금흐름할인법과 더불어 실물옵션 모형을 활용하면 보다 유연한 결정을 하는 데 도움이 될 것으로 판단된다.

• 산업경영시스템학회지
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• 제43권3호
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• pp.216-227
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• 2020

The purpose of this paper is to identify a relative importance and priority of the factors of Competencies of project team member. It aims to present the differential competency factors from a differentiated perspective by applying the Leadership Development Questionnaire, which is the competency dimension required for manager, to team member. (1) Background: The diverse needs of customers and companies, and the uncertainty, complexity, ambiguity, and volatility of the environment surrounding the company in the era of the Fourth Industrial Revolution threaten the survival of company. In this respect, companies should implement the project management approach and strive to increase the capabilities of each team member. (2) Methods: AHP method was used to prioritize which factors were considered more importance level and the gap of relative importance level between project manager group and team members group. (3) Results: In the analysis of the relative importance of the upper class, weights were derived in the order of managerial competence, intellectual competence, and emotional competence. The sub-factor that respondents prioritize was communication as the 1st priority, and it was analyzed in the order of strategic perspective, achieving, critical analysis and judgement, and vision and imagination. There were some differences in the ranking of the relative importance of achieving and vision and imagination attributes between the PM group and TM group, it was analyzed that there was no significant difference overall. (4) Implications: The results of this study confirmed the recognition that team members are required to have the same competencies as the project manager. And based on the priorities of the competencies required of team members, companies are expected to cultivate professional and competent team members, and expand the roles and authority of team members so that they can actively carry out projects.

• 대순사상과 동아시아종교
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• 제3권2호
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• pp.71-92
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• 2024

The world we live in is becoming more convenient thanks to the inventions of science and technology. Still, the world is also becoming more and more unpredictable with the current situation of VUCA (Volatility, Uncertainty, Complexity, Ambiguity). The Covid-19 pandemic brought the biggest global disaster ever with 774,631,444 infected people and 7,031,216 deaths (WHO on February 11, 2024) but it seems that humanity is gradually forgetting this disaster. Meanwhile the economic stimulus packages worth trillions of dollars from governments after the pandemic have further caused the world debt bubble to swell. The bubble burst scenario is something that many economic experts fear. Apparently, in the transitional period of the early decades of the 21st century, the world's economic, cultural, political, social, natural, and environmental aspects have undergone profound transformations: from the real estate and finance crises in the United States since 2008; through the melting of the Arctic ice over the past several decades; to the double disaster of the earthquake and tsunami in Japan in 2011. Especially, in the context of the world economic crisis after the COVID-19 pandemic, the human achievements of the past thousands of years are in jeopardy of being wiped out in an instant. Many people are predicting a bad scenario for a chain collapse. Facing the signals of an imminent economic catastrophe based on the appearance of "the Gray Rhino, Black Swan and White Elephant," many drawn in by Eschatological thought declare that Doomsday will occur shortly. This is the time for many other people to hope for the incoming Messiah. The Messiah is said to appear when people feel despair or suffer a great disaster because faith in the Savior can help them overcome adversity mentally. This research will find out how adherents of Buddhism view and deal with civilizational crises by examining history via symbols associated with Maitreya as based upon the Buddhist Messiah, Maitreya.

• Journal of Korea Trade
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• 제27권1호
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• pp.1-18
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• 2023

Purpose - Using a sample of Korean multinational corporations, we examine whether the relationship between tax risk and the implied cost of capital discriminates between the environmental, social, and corporate governance (ESG) of highly rated firms. Design/methodology - Firms with high tax risks have an increased uncertainty of future cash flows. Therefore, as the volatility of future cash flow increases, information asymmetry and the required return increases. Highly rated ESG firms can reduce information asymmetry, thereby weakening the positive relationship between tax risk and cost of capital. We employ the standard deviation of the cash effective tax rate as proxy of tax risk. We utilize the ESG rating data of the Korea Corporate Governance Service (KCGS). We use a PEG model, MPEG model, and GM model to measure the implied cost of capital. Findings - We find a positive association between the implied cost of capital and tax risk. The positive relationship between tax risk and the implied cost of capital weakens in highly rated ESG firms. Highly rated ESG firms prefer a stable tax position to invest after-tax cash flows into sustainable management. Therefore, the negative effects of tax risk on cost of capital can be reduced. Originality/value - This study provides empirical evidence that ESG activities can mitigate the negative impact of tax risk on the cost of capital for Korean multinational corporations. In a business environment where ESG activities are more important, the empirical results that ESG activities can reduce the corporate risk of Korean FDI companies are expected to provide implications for the ESG activities of multinational corporations.

• 한국초등과학교육학회지:초등과학교육
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• 제43권1호
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• pp.81-94
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• 2024

이 연구에서는 생활 속 위험 문제 중 하나인 '소음'에 대해 예비교사들이 수행한 과학탐구 사례를 중심으로 서로 다른 유형의 데이터 활용에서 나타나는 인식적 특징을 탐색하고 비교하였다. 이를 위해, 소음에 대한 탐구 보고서를 수집하고, 탐구 보고서에서 1차 데이터와 2차 데이터가 어떻게 과학탐구에 활용되는지, 데이터의 유형에 따라 탐구 설계, 자료 수집 및 분석 과정이 어떻게 달라지는지를 분석하였다. 연구 결과, 센서 기반의 1차 데이터는 핵심 현상을 측정하고 관찰하는 주체가 탐구자 자신이지만, 2차 데이터는 공공 기관에서 이미 측정 대상과 방법을 결정하여 데이터로 제시하였기 때문에 예비교사들은 공공 데이터의 특징을 먼저 조사하고 탐구 목적에 맞게 선별적으로 활용하였다. 이러한 차이로 인해 탐구 과정에서 요구되는 인식적 고려 사항과 방식이 서로 달랐다. 끝으로 이러한 연구 결과가 과학탐구 교수학습 및 탐구 지도를 위한 교사교육, 그리고 변동성과 불확실성이 극대화될 VUCA 시대를 대비한 위험 대응 역량 교육의 측면에서 갖는 교육적 시사점을 논의하였다.