• Communications for Statistical Applications and Methods
• /
• 제15권1호
• /
• pp.117-124
• /
• 2008

The liquidity risk is defined as an additional risk in the market due to the timing and size of a trade. A recent work by Cetin et ai. (2003) proposes a rigorous mathematical model incorporating this liquidity risk into the arbitrage pricing theory. A practical problem arising in a real market application is an estimation problem of a liquidity cost. In this paper, we propose to estimate the liquidity cost function in the context of Cetin et al. (2003) using the constrained least square (LS) method, and illustrate it by analyzing the Kellogg company data.

• 한국농공학회논문집
• /
• 제51권4호
• /
• pp.1-6
• /
• 2009

This study analyzed and evaluated the effect of agricultural water reduction by introducing automated agricultural water management using alternative cost approach. The approach is possible to evaluate none market property as an asset. The saved agricultural water was evaluated as none market property. As the alternative goods, Seongju and Donghwa dam, typical irrigation dams in domestic, were employed. The economic benefit from water saving effect of an automated agricultural water management was calculated as depreciation expense and maintaining cost of construction agricultural dam per saved agriculture water. As a result, the saved agriculture water was 8.5 million ton per year, and the economic benefit of it was $1.3{\sim}2.1$ million won.

• The Journal of Asian Finance, Economics and Business
• /
• 제9권8호
• /
• pp.71-80
• /
• 2022

This study aims to investigate the effects of fair value valuation of biological assets and bearer plants measured at historical cost on the cost of third-party capital. The study contributes to the agricultural sector and the International Accounting Standard - IAS 41, which has been modified to remove the requirement to apply fair value for bearer plants, one of the primary biological assets with no active market. For this, 182 companies from 39 countries were studied in the years 2020 and 2021, with information taken from the Thomson Reuters Eikon platform. The methodology involves regression by the ordinary least squares method based on the model of Daly and Skaife (2016). The results show that the biological asset at fair value does not influence the cost of debt and that the measurement of bearer plants at historical cost has no effect on the cost of debt. Fair value did not change the perceived cost of debt of the analyzed companies in the studied period, contrary to Daly and Skaife (2016). Finally, the cost of third-party capital can be influenced by other aspects related to profit quality, which were not examined in this paper, such as profit management.

• 중소기업연구
• /
• 제40권3호
• /
• pp.1-24
• /
• 2018

본 연구는 신설기업의 신제품개발에 따른 투자비소요액 흐름이 시간에 따라 비슷한 패턴을 보인다는 것을 기업의 재무데이터로 검증하는 것을 목표로 하였다. 이전 논문에서 저자가 투자비소요액 흐름을 신제품투자비곡선(NPIC; New Product Investment Curve)이라 제안한 바 있으며, 이번 연구에서는 이를 다양한 기업 형태별로 연구하였다. 사용된 표본은 2015년 외부감사 대상인 5,873개 한국 기업에서 선별한 462개 기업 재무데이터이다. 분석 결과, 추가투자비 필요 기간은 상장된 기업은 3년간, 비상장기업은 6년이었으며, 투자비회수기간은 상장기업 6년, 비상장기업 17년이었다. 대기업군에 속한 '온실기업'의 투자비회수기간은 14~15년, 순수한 벤처기업은 17년이었다. 연구개발비와 변동비의 과다에 따른 4개 그룹으로 구분 시, 고 R&D, 고 변동비 그룹(자동차조립업)이 NPIC의 설명력이 가장 높았다. 투자비소요액 추정을 위해 제안한 8개 투자비 추정식 중에서는 'cash 1'((영업현금흐름+토지, 건물을 제외한 고정자산 변동+무형자산, 이연자산 변동)/연말총자산)'의 설명력이 가장 높았다. 결론은 모든 기업을 합하여 추정하면 NPIC 설명력은 다소 떨어지나 상장, 비상장, 온실, 벤처기업 등 특성 별로 나누어 추정할 경우, 투자비소요액 곡선의 패턴이 특성 별로 잘 나타나 제안한 NPIC의 유효함이 검증되었다.

• 한국지역사회생활과학회지
• /
• 제14권1호
• /
• pp.55-71
• /
• 2003

The purpose of this study was to evaluate the financial status of single mother households by financial ratios. Data was drawn from Labor Panel Survey Data in 1999, and 198 single mother households were selected. Major findings were as follows: 1) The levels of after-tax income, income per person, expenditure, expenditure per person, asset, pure asset, and debt of single mother households were lower than their counter-parts. 2) All financial ratios showed that both financial security and financial growth of single mother households were lower than their counter-parts. Especially, 22% of single mother households had the lower level of income that the lowest cost of living.

• 대한가정학회지
• /
• 제36권10호
• /
• pp.1-22
• /
• 1998

The purpose of this study was to analyze the state of the living arrangement plan, the housing plan, and economic plan for elderly's life and contributing factors to their life plan. The sample in this study consisted of 713 middle-aged and aged couple living in Korea. Statistics employed for the analysis were frequencies, means, x2 test, logit analysis and multiple regression. The results could be summarized as follows. The middle-aged and aged couple were planning to live independently in their elderly life. The husband's age, religion, living area, total income, total asset, home owenership had significant effects on the living arrangement of the middle-aged and aged. They had a plan to live in single detached house in their elderly life. And husband's age, educational attaintment, job, and living region were affecting the housing type in their elder life. The middle-aged and aged people had a economic plan that they estimated 970,000 won as living cost in their elderly life. And the factors affecting living costs were husband's educational attaintment, job, and total asset.

• International Journal of Reliability and Applications
• /
• 제8권2호
• /
• pp.183-197
• /
• 2007

There is a growing trend for asset intensive industries to outsource maintenance services of their complex assets since outsourcing through service contract reduces upfront investments in infrastructure, expertise and specialised maintenance facilities. Estimation of costs for such contracts is complex and it is important to the user and the service providers for economic variability. The service provider's profit is influenced by many factors such as the terms of the contract, reliability of asset, and the servicing strategies, costs of resources needed to carryout maintenance. There is a need to develop mathematical models for understanding future costs to build it into the contract price. Three policies for service contracts are proposed in this paper considering the concepts of outsourcing maintenance service of assets to the service providers. Conceptual models are developed for estimating servicing costs of outsourcing through service contracts by considering time dependent failure mode.

• 한국정보처리학회:학술대회논문집
• /
• 한국정보처리학회 2012년도 춘계학술발표대회
• /
• pp.1369-1372
• /
• 2012

공공시설 자산관리는 새로운 시설물 유지보수 개념으로 유지관리체계를 넘어 자산의 가치를 높이는 관리체계이다. 이 연구의 목적은 도로 및 교량 같은 공공시설에 자산관리체계를 지원하는 정보시스템을 구축하는데 필수적인 자산의 가치와 가치비용을 평가하는 방법을 개발하는 것이다. 따라서 자산가치를 자산평가 척도인 LoS(Level of Service)를 바탕으로 금전적인 값어치로 공학적 관점에서 계산하는 이론적 방법을 연구하였다. 가치개념을 정립하기 위해 성능은 LoS를 적용하였고, 비용은 유지관리를 위한 직접 투입비용을 적용하였다. 연구목적상 기존 연구결과인 자산비용과 가치비용의 개념을 적용하였으며 합리적인 시설물의 가치비용을 추정하기 위해 추가적으로 자산의 규모, 시설물의 현재 상태, 투입예산의 효과, 시설물의 중요도를 고려하도록 제안하였다. 제안한 자산비용을 바탕으로 하는 가치비용이 최대가 되는 유지관리대안을 선정한다면 최적의 시나리오가 될 것이다.

• Journal of Information Processing Systems
• /
• 제15권4호
• /
• pp.920-930
• /
• 2019

To figure out the impact of debt financing on the profits of industrial enterprises, it starts with calculating the first differences against the logarithms of the cost profit ratios and the debt asset ratios of Chinese industrial enterprises during 179 months from 2002 to 2016; next, it runs the cointegration test and afterwards the regression test to analyze the obtained first differences, and still next uses the Simulink software to get the regularity of those changes. It finds out that there is not only a long-term stable relationship between the enterprises' profits and debts, but also a steady time series trend within a short term. The profit rate positively correlates to the debt asset ratio, and profit for the current term positively correlates to the profit for the previous term. It indicates that properly raised debts can help increase the profit rate of the industrial enterprises, and a higher previous profit level can help improve the current profit level.

• 국제학술발표논문집
• /
• The 1th International Conference on Construction Engineering and Project Management
• /
• pp.621-626
• /
• 2005

Recent increases in construction costs on Korean public works projects, largely due to change orders caused by poorly elaborated design, become a motivation of applying VE process in Korean construction industry. The Seoul Toll Plaza project, recently value analyzed by four VE teams, demonstrates how value management helps save time, money and increase functional performance. The objective of this project is to upgrade and expand existing pay and ticket booths system on "Kyungboo Express Highway", the main artery for the Korean peninsula linking Seoul to Pusan. The value management study generated several innovate alternatives capable of saving up to 50% of project cost from the baseline project plan.