• IE interfaces
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• v.24 no.4
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• pp.295-303
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• 2011

This paper presents a discrete time optimal asset buying problem with a predetermined final deadline where an available budget is limited. A cost is paid to search for assets called the search cost. A seller who shows up offers a price for the asset and then the buyer decides whether or not to buy the asset by comparing the offered price to his optimal selection threshold. When the budget becomes less than the search cost or the price of the asset the buyer can get a necessary loan with some interests. We clarify the properties of the buyer's optimal selection threshold in order to maximize the expected value of budget which is left after paying all the search costs and the price of the asset at that point in time.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.691-692
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• 2015

Several scholars in South Korea have predicted that maintenance costs of social infrastructure will sharply increase from the mid-2020s, and cause budgetary deficits among facilities management agencies. Interest in infrastructure asset management (IAM) is rising as a solution to such problem. In this study, an information system for asset valuation that reflects the salvage value and deferred cost of social infrastructure based on WBS (work breakdown structure) was developed in consideration of IAM. To reuse the construction cost information such as the acquisition cost, the interconnection between CBS (cost breakdown structure) and WBS was considered. Furthermore, asset valuation information was developed with XML schema to facilitate the exchange and reuse of the information among project participants.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.11
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• pp.1993-1999
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• 2011

Today, the power utilities is setting on the slow load growth and the aging of power equipment, and then could spend the efforts on the stability of system performance. Asset management may be defined as the process of maximizing corporate profit by maximizing performance and minimizing cost over the entire life cycle of power equipment. Therefore, asset management is great way to fulfill the economic investment and the stability of system performance. This paper presents the application of effective asset managem ent from an economic perspective. A proposed method is considering the life cycle analysis using life cycle cost methodology for hydro-generator during the total life cycle. The life cycle cost methodology include a way to calculating maintenance and operating costs. The proposed method will be expected to play an important role in investment decision making considering economic evaluation.

• Journal of Information Processing Systems
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• v.1 no.1 s.1
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• pp.79-85
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• 2005

In this paper, we dealt with substantial asset analysis methodology applied to two-dimensional asset classification and qualitative evaluation method according to the business process. Most of the existent risk analysis methodology and tools presented classification by asset type and physical evaluation by a quantitative method. We focused our research on qualitative evaluation with 2-dimensional asset classification. It converts from quantitative asset value with purchase cost, recovery and exchange cost, etc. to qualitative evaluation considering specific factors related to the business process. In the first phase, we classified the IT assets into tangible and intangible assets, including human and information data asset, and evaluated their value. Then, we converted the quantitative asset value to the qualitative asset value using a conversion standard table. In the second phase, we reclassified the assets using 2-dimensional classification factors reflecting the business process, and applied weight to the first evaluation results. This method is to consider the organization characteristics, IT asset structure scheme and business process. Therefore, we can evaluate the concrete and substantial asset value corresponding to the organization business process, even if they are the same asset type.

• Journal of Korean Society of Water and Wastewater
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• v.29 no.6
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• pp.651-657
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• 2015

Recently, the need for asset management(AM) plan introduction to reduce increasing O&M cost with aging water facilities is on the rise. Therefore, asset inventory classification is necessary as the first step for AM plan construction. In this study, all assets of YW water treatment plant(WTP) were classified as 5 steps. In addition, specific code name was given to each asset which can increase compatibility in constructing the AM programs among WTPs. In the future, codes for attribute and status of asset will be allocated, which can facilitate proper AM operation.

• Korean Journal of Construction Engineering and Management
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• v.11 no.6
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• pp.35-44
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• 2010

For efficient maintenance management of bridges, an establishment of asset management system is necessary which helps prediction of maintenance cost and strategic allocation of budget in consideration of top priority. The main purpose of this study is to suggest asset valuation method, which is practical in conformity with domestic situations, through researches on asset valuation method of bridges. This study has researched asset valuation method of bridge, which is appropriate for domestic situations by finding out advantages and disadvantages through investigating domestic and foreign application examples of asset valuation method for bridge facilities. In this study, asset valuation method by historical cost and replacement cost were suggested and a valuation model for bridges was established. In addition, two suggested valuation methods were applied to actual bridges which is used in Korea. As the result, it was analyzed that bridge asset valuation method in consideration of historical cost is desirable for the accounting purpose. And, it was analyzed that valuation method utilizing depreciated replacement cost(DRC), which could consider various factors, is desirable for the maintenance decision supporting purpose.

• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.29-47
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• 2018

This paper examines the relationship between diversification and financial performance of community credit unions in Korea from 2011 to 2017. To do so, I employ fixed-effects panel analyses using credit union level panel data collected from the National Credit Union Federation of Korea. This study finds evidence that business diversification is likely to lower the ratio of troubled loans, which means improving asset quality of credit unions. However, the relationship between diversification and asset quality is not linear but nonlinear, which means over-diversification would have negative effects on asset quality. Next, diversification tends to increase profitability. Specifically, although diversification results in a rise in expenditures, an increase in profits made by diversification outweighs the rise in expenditures, which contributes to profitability. Put together, diversification would be a good business strategy to improve both profitability and asset quality. Given a result that fast loan growth deteriorates asset quality, credit unions' managers might adopt the diversification strategy to enhance asset quality, and not to pursue their own objectives motivated by moral hazards.

• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.403-414
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• 2022

Many studies have been conducted on asset management of public facilities, as the importance of such management has been increasing. This basic study aims to present strategies for the practical use of public asset management, and seeks to propose efficient management and utilization measures from a cost perspective by comparing and analyzing the importance and impact relationship between cost items for public asset management. In this study, 19 sub-items and the top 4 items were chosen by deriving cost factors based on the previous literature. A survey was conducted, and the results of the survey were analyzed by using the Analytic Hierarchy Process(AHP) and Interpretive Structural Modeling (ISM) methods. The AHP was used to derive the priority between items, and ISM was used to identify major groups and mutual influences. As a result, those items showing both high priority and high importance, such as user cost, dismantling/disposal cost, replacement cost, maintenance/repair cost, etc. are determined as priority items to be considered for public asset management of public facilities. Also, it is necessary to minimize the impact on other items in public asset management by those items which are impacted less by other items but have significant impact on the items such as initial construction costs, conceptual design costs, construction costs, and supervision costs. It is expected that the results and analysis methods presented in this study can be used to provide strategies for asset management of public facilities.

• Journal of the Korean Society of Safety
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• v.30 no.3
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• pp.67-72
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• 2015

Although attention to terrorism has increased sharply in recent years within many countries, it is by no means a new phenomenon. Majority of these countries have limited regulations or guidelines about terrorism. LOP (Level Of Protection) can be consider as a first step. This paper seeks to present a process to determine LOP and allowable damage. LOP is determined by asset value reason why it should be based on cost. The asset value is defined as "cost induced when asset is damaged". For example, the collateral damage outside the facility should be taken in consideration in the asset value. Allowable structural damage is assigned depending on LOP.

• Journal of Digital Convergence
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• v.12 no.4
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• pp.133-143
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• 2014

This paper investigate how transaction cost factors affect organizational performance both directly and indirectly, through cooperative relationship lasting factors and degree of relationship satisfaction. The results can be summarized as follows: First, asset uncertainty directly influenced financial and non-financial performance. Also asset specificity and opportunism did not influence financial and non financial performance directly. Second cooperative relationship lasting factors were connected with transaction cost factors direct variables on cooperative relationship lasting factors are asset specificity and uncertainty, but opportunism did not directly influence. Third, degree of relationship satisfaction were connected with transaction cost factors direct variables on degree of relationship satisfaction are asset specificity and opportunism, but uncertainty had not affected degree of relationship satisfaction. Fourth, cooperative relationship lasting factors and degree of relation satisfaction had affected financial performance and non financial performance. In summary, this study find that transaction cost factors had indirectly influenced organizational performance through mediated variables such as cooperative relationship lasting factors and degree of relationship satisfaction.