• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.317-328
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• 2021

This study examines the impact of bank competition and efficiency in the financial stability of the banking sector in Bangladesh. The study used the Lerner index and the Boone indicator to represent the bank competition, while the non-performing loan (NPL) and Z-score are used to represent financial stability. The secondary data were collected from the annual reports of 28 DSE listed commercial banks of Bangladesh over the period from 2011 to 2018. Using a dynamic panel GMM model, the study found the Lerner index is significantly negatively related with Z-score, which means that higher bank competition results in higher bank stability. It is also seen that higher cost efficiency results in higher bank stability. The Lerner index has negative, but insignificant impact on NPL. Similarly, using the Boone indicator, this study found that lower competition increases NPL. In terms of the Z-score, the Boone indicator found that 1 unit of increment results in decrease of the Z-score by 6.15 units. The study suggests that, as more competition results in more financial soundness, the banking industry competition should be ensured by policymakers or regulators. Banks could enhance financial stability by cost control to achieve cost efficiency as well as by improving loan-to-asset ratio.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.311-317
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• 2011

There is a growing concern in reducing greenhouse gas emissions all over the world. The U.K. has set 34% target reduction of emission before 2020 and 80% before 2050 compared to 1990 recently in Post Copenhagen Report on Climate Change. In practise, Life Cycle Cost (LCC) and Life Cycle Assessment (LCA) tools have been introduced to construction industry in order to achieve this such as. However, there is clear a disconnection between costs and environmental impacts over the life cycle of a built asset when using these two tools. Besides, the changes in Information and Communication Technologies (ICTs) lead to a change in the way information is represented, in particular, information is being fed more easily and distributed more quickly to different stakeholders by the use of tool such as the Building Information Modelling (BIM), with little consideration on incorporating LCC and LCA and their maximised usage within the BIM environment. The aim of this paper is to propose the development of a model-based LCC and LCA tool in order to provide sustainable building design decisions for clients, architects and quantity surveyors, by then an optimal investment decision can be made by studying the trade-off between costs and environmental impacts. An application framework is also proposed finally as the future work that shows how the proposed model can be incorporated into the BIM environment in practise.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.132-141
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• 2011

Australia has joined many governments to adopt public-private partnership (PPP) as a major strategy for procuring infrastructure for decades. However, failures have occurred although the market has been considered to be a mature and sophisticated one. Failures have typically been traced back to inappropriate economic evaluation and a lack of value-for-money. In particular, a literature review has identified that there was no holistic consideration on the evaluation of procurement transactions of PPP projects. The transaction costs of PPPs were not handled properly. In this paper, theories of transaction cost economics are proposed for the purpose of such a holistic institutional economic evaluation. These theories are analysed in order to identify potential critical success factors for a strategic infrastructure procurement framework. The potential critical success factors are identified and grouped into a number of categories that match the theories of transaction cost economics. These categories include (1) Asset Specificity, (2) Organizational Capability, (3) Transaction Frequency, (4) Behavioural Uncertainty, and (5) Environmental Uncertainty. These potential critical success factors may be subject to an empirical test in the future. The proposed framework will offer decision makers with an insight into project life cycle economic outcomes needed to successfully deliver PPPs.

• Journal of Korea Technology Innovation Society
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• v.20 no.3
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• pp.732-753
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• 2017

Recently, when evaluating the technology values in the fields of biotechnology, pharmaceuticals and medicine, we have needed more to estimate those values in consideration of the period and cost for the commercialization to be put into in future. The existing discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialized input cost of technology-applied products. However, since the value of technology and investment should be considered as opportunity value and the information of decision-making for resource allocation should be taken into account, it is regarded desirable to apply the concept of real options, and in order to reflect the characteristics of business model for the target technology into the concept of volatility in terms of stock price which we usually apply to in evaluation of a firm's value, we need to consider 'the continuity of stock price (relatively minor change)' and 'positive condition'. Thus, as discussed in a lot of literature, it is necessary to investigate the relationship among volatility, underlying asset values, and cost of commercialization in the Black-Scholes model for estimating the technology value based on real options. This study is expected to provide more elaborated real options model, by mathematically deriving whether the ratio of the present value of the underlying asset to the present value of the commercialization cost, which reflects the uncertainty in the option pricing model (OPM), is divided into the "no action taken" (NAT) area under certain threshold conditions or not, and also presenting the estimation logic for option values according to the observation variables (or input values).

• 한국벤처창업학회:학술대회논문집
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• 2009.10a
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• pp.111-138
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• 2009

This research focuses on what factors determine firm's decisions on R&D outsourcing and how R&D outsourcing affect R&D performance. In recent years many firms outsource R&D activities instead of internalizing it. Thus, further investigation is necessary to find out this recent trend. Based on several theoretical background the study developed three determining factors of R&D outsourcing which are transactional level, firm level, and risk level. Transactional level composes of independent variables such as R&D cost saving, asset specificity and uncertainty which mainly comes from Transaction Cost Economics theory. Firm level composes of openness to technology from outer source, R&D capability, and outsourcing experience. Risk level composes of technological risk, cost-related risk and managerial risk. The result shows that R&D outsourcing is significantly related to cost saving aspect, low asset specific firms, firms without solid technological background, firms which are open to external technology, firms with other types of outsourcing experience, and firms which take technological risks. However, proposed relationship between degree of R&D outsourcing and R&D performance found out to be insignificant. This research is contribute to the field of outsourcing study since it will give guidance to managers who need to make strategic decisions on R&D outsourcing activities.

• Journal of Distribution Research
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• v.12 no.1
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• pp.105-123
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• 2007

Recently, the beauty service industry in Korea is growing rapidly as women have increased role in society and consumers have more diversified desire for beauty. In that sense, studies on the environment of transaction is necessary to maintain the customers who use beauty service which Is one of the most prominent services in Korea. However, there is a lack of systematic investigation on that. Under those circumstances, this study tries to propose strategies by shedding light on the reasons of store loyalty based on empirical study. Furthermore, securing regular customers is deemed to be the most important thing as the competition among stores are getting fiercer in the wake of increase in the number of beauty salons. In that light, this study tries to shed light on the transaction cost clearly which affects the store loyalty, and focuses on the development of integrated research model for the transaction cost related to the environmental characteristics of beauty service industry and for the store loyalty.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.6 no.9
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• pp.81-95
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• 1983

The author has intended to seek for the usefulness of price-level change accounting information through financial statements of general price level. The accounting information obtained from financial statements of general price level, must be useful to the reasonable judgment of financial statement users or to the economic decision making, This thesis may be summarized as follows : 1. Financial statements arranged by historical cost accompany many problems as accounting information. In other words, at the time of inflation, they have little usefulness as accounting information. 2. In order to correct the little usefulness of the financial statements arranged by historical cost, the author examined this matter centering around FASB statement No. 33. 3. The price level change accounting eliminates the contradiction of the accounting information obtained from the financial statements arranged by historical cost. 4. In the general price level change accounting, money value is presumed to change according to the level of general price and, then, the money value for goods must be revised. 5. In the general price level change accounting, the division between monetary items of asset and debt, and non-monetary items, is important. 6. The general price level change accounting based upon historical cost accounting, has objectivity as accounting information like the cost basis accounting and larger usefulness than the cost basis accounting. In conclusion, the price level change accounting increases its usefulness as accounting information and, therefore. (1) the information on the general price level change accounting is desirable to be disclosed as supplementary information for the traditional financial statements, and (2) the general price level change accounting should be induced to the listed Companies in Korea under continuing inflation for improving the usefulness of financial statements as accounting information.

• Journal of Korea Water Resources Association
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• v.51 no.spc
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• pp.1149-1159
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• 2018

This study aims to predict the future flood damage cost of 113 middle range watersheds using 26 GCM outputs, hourly maximum rainfall, 10-min maximum rainfall, number of days of 80 mm/day, daily rainfall maximum, annual rainfall amount, DEM, urbanization ratio, population density, asset density, road improvement ratio, river improvement ratio, drainage system improvement ratio, pumping capacity, detention basin capacity and previous flood damage costs. A constrained multiple linear regression model was used to construct the relationships between the flood damage cost and other variables. Future flood damage costs were estimated for different RCP scenarios such as 4.5 and 8.5. Results demonstrated that rainfall related factors such as annual rainfall amount, rainfall extremes etc. widely increase. It causes nationwide future flood damage cost increase. Especially the flood damage cost for Eastern part watersheds of Kangwondo and Namgang dam area may mainly increase.

• Journal of KIISE:Software and Applications
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• v.31 no.8
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• pp.1010-1026
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• 2004

The goal of product line engineering is to support the systematic development of a set of similar software systems by understanding and controlling their common and distinguishing characteristics. The product line engineering is a process that develops reusable core assets and develops a set of software-intensive systems from a common set of core assets in a prescribed way. Currently, many software development technologies are accomplished in context of product line. However, much of the product line engineering research have focused on the reuse of work products relating to the software's architecture, detail design, and code. The product lines fulfill the promise of tailor-made systems built specifically for the needs of particular customers or customer groups. In particular, commonality and variability play central roles in the all product line development processes. These must be treated already during the requirement analysis phase. Requirements in product line engineering are basis of software development just like as traditional system development engineering, and basis of deciding other core assets' property - commonalities and variabilities. However, it is difficult to elicit, analyze and manage correct requirements. Therefore, it is necessary to develop systematic methods which can develop and manage requirement as core asset, which can be stable in anticipative change and can be well adapted to unpredictable change. In this paper, we suggest a method of managing requirements as core asset in product line. Through this method, the reuse of domain requirements can be enhanced. As a result, the cost and time of software development can be reduced and the productivity can be increased.