• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.170-186
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• 2006

The guarantee funds for government policy fund, venture capital investment fund, technology guarantee debt are the core parts of the external financing system in the constant technology innovation company. However, the enterpriser's requirement to keep the technology innovation with minimized management intervention and policy maker's hope to advance technology development with clear operation of funds is enough to request for research of the project investment plan to the R&D project. This paper will analyze whether technology innovation company that creates cash flow prefers to the project investment as a financing program or not, and if prefers, what characters of company affect on this preference. The more the company that pursuit the additional R&D activity separated to on-going items becomes over the fixed size, the more prefers the project investment as future external fund-raising. Together with that, this paper suggests that we can apply the plan like special purpose vehicle, SWORD(Stock Warrant Off-Balance sheet R&D) and R&D Limited Partnership as R&D project investment policy, and improve the system itself.

• Journal of Ocean Engineering and Technology
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• v.13 no.3B
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• pp.116-126
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• 1999

The purpose of this study is to analyze the economic aspect of sea transportation system between Inchon and Youngjong island in which Inchon international airport is being constructed. Total demand of sea transportation arising from in the airport and Yongyu Muwi leisure complex was estimated. To select optimum transportation route, environmental conditions in and around Inchon harbour and Youngjong island including the change of water depth by tide current, fog, rain, wind adn typhoon, ets., were investigated. The preliminary consideration on ships (size, velocity, transport capacity, price), routes, operational modes, terminals and berthing facilities were carried out. The transportation cost per passenger by sea transportation system was estimated to compare with that of land transportation system. It was found that sea transportation system proposed is competitive to the transportation system.

• Journal of Construction Engineering and Project Management
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• v.7 no.1
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• pp.1-12
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• 2017

Construction delay is one of the basic constrains to achieve the project objectives in developing countries. This study aims to find the causes and effects of construction delays in developing countries. A thorough literature review has been done following the content analysis method. The relevant literature of 28 developing countries was collected from the scholarly journals published in the period of 2006 to 2016. The different developing countries are grouped into three geographic regions, i.e. South and Southeast Asia, Middle East, and Africa. In these regions, total 53 potential causes of delay under 8 major groups are identified. Frequency and ranking of these factors have been done. The factors, delay in progress payment by owner, contractors' cash flow problem, improper planning and scheduling, poor site management, and change order by owner during construction, are acknowledged as critical causes of delay in developing countries. This study will assist both academic and professional experts providing more insight about the construction delays and project management in developing countries.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.05a
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• pp.620-627
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• 2003

The real option pricing theory has emerged as the new investment decision-making techniques superceding the traditional discounted cash flow techniques and thus has greatly received muck attention from academics and practitioners in these days the theory has been widely applied to a variety of corporate strategic projects such as a new drug R&D, an internet start-up. an advanced manufacturing system. and so on A lot of people who are interested in the real option pricing theory complain that it is difficult to understand the true meaning of the real option value. though. One of the most conspicuous reasons for the complaint may be due to the fact that there exit many different ways to calculate the real options value in this paper, we will present a replicating portfolio method. a risk-neutral probability method. a risk-adjusted discount rate method (quasi capital asset pricing method). and an opportunity cost concept-based method under the conditions of a binomial lattice option pricing theory.

• 한국지구물리탐사학회:학술대회논문집
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• 2009.05a
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• pp.101-118
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• 2009

In order to invest in overseas mineral projects, it is necessary to have a ability of technical and financial evaluation. Reserve estimation is the most important for mineral appraisal. Geostatistical evaluation of tonnage and grade promises more accurate reserve estimation than traditional methods such as polygon, inverse distance method and so on even if it has some uncertainty. Selection of a mining method and a mineral processing is also important because capex and opcosts of a mineral project is due to the selection. Mineral project is usually evaluated financially using NPV and IRR which are calculated through DCF(Discount Cash Flow). Uncertainty of a mineral project is analyzed statistically using sensitivity analysis and montecarlo simulation.

• International Journal of Contents
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• v.6 no.3
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• pp.53-58
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• 2010

This study empirically analyzes the characteristics of the various attributes of technology that influence the economic values of technologies, based on the cases of technology valuation carried out in Korea. To do so, we collect the cases of technology valuation carried out by major technology valuation institutions in Korea and extract from these data the information about various characteristics of the subject technologies of valuation and the primary factors applied to the technology valuation. Based on such extracted information, we examine the overall trends of technology valuation in Korea and analyze how the main factors of technology valuation vary with the attributes of technology.

• Journal of Construction Engineering and Project Management
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• v.2 no.4
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• pp.25-31
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• 2012

The growing rate of delays is adversely affecting the timely delivery of construction projects. This study therefore assesses construction stakeholders' perception of the causes of delays and its effects on project delivery in a bid to proffer solution in minimizing the occurrences of delays. Questionnaire was used to elicit responses from construction stakeholders; a total of thirty three causes of delays, seventeen resultant effects of delays and fifteen methods of minimizing construction delays were identified for the study based on literature reviews. The results suggest that client's cash flow related problems are the main causes of delays while time and cost overruns are the major identifiable effects of delays in construction projects. However, adequate project planning and budgeting were suggested as possible ways of minimizing the occurrences of delays.

• Asia-Pacific Journal of Business
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• v.4 no.2
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• pp.11-20
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• 2013

This study extends the extant scope of understanding investment decision, beyond the dominant 'technical' emphasis on the application of discounted cash flow techniques. The research methodology draws the positivist and interpretive research paradigms. It uses a deductive approach, survey strategy and principal component analysis for the analysis. Three key sets of factors emerged as important in the investment decision process in the hydropower sector. They are: group consensus (framing), influences on own judgment (heuristics), and application of knowledge & experience (intuition). The use of purposive and convenient sampling might have some unintended impact on the findings. Consequently, any generalizations of the findings to a wider population of organizations and managers need to be made with care. It is hoped that this paper will encourage other researchers to go beyond the analytic techniques of investment appraisal that have dominated investment decision research and seek to balance the emphasis by focusing on human involvement and behavioral aspects of investment decision.

• Korean System Dynamics Review
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• v.12 no.1
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• pp.39-57
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• 2011

This paper is the result of simulation modeling concerning high-level radioactive waste repository(HLRWR) and people's mind for the facility. We describe a procedure of simulation modeling for resident's policy acceptance and perceived risk of HLRWR facility by using System Dynamics approach. To Complete some complicated works, we made the 20 pieces of stock-flow diagrams based on the causal loop diagram that is a blue print of whole variables and relations. The simulation outputs clearly show that cental government efforts to siting the HLRWR will be failed if nothing to give for the region's residents. On the contrary, a monetary incentive and a regional development program help to turn this gloomy situation into a desirable and acceptable condition dramatically. Government has to prepare the schemes considering the HLRWR acceptance and total supporting program including the cash and local development programs.

• Journal of Korean Society for Quality Management
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• v.29 no.4
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• pp.153-160
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• 2001

The proposed system measures business performance by considering both VA(Value-Added), which represents stakeholder's point of view and EVA(Economic Value-Added), which represents shareholder's point of view. To do so, we suggest a business performance scheme which utilizes VA per Capita (Value- Added/Workers) and EVA to Invested Capital(Economic Value-Added /Invested Capital). For effective measurement of business performance, we consider simultaneously not only quantitative financial factors such as VA, EVA and cash flow but also qualitative value drivers such as defect ratio, inventory level, customer satisfaction, enterprise culture and so on. However, we don't consider the qualitative factors due to the limited data. To demonstrate the performance of the system, we conducted a case study using financial data of Korean automobile industry over 16 years from 1981 to 1996, which is taken from database of KISFAS (Korea Investors Services Financial Analysis System).