• Title/Summary/Keyword: financial stability

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Critical Success Factors for Efficient Development of Construction Automation Technology (효율적인 건설자동화 기술 개발을 위한 핵심성공요인)

  • Lee, Ung-Kyun;Kim, Baek-Joong;Kim, Taehoon
    • Journal of the Regional Association of Architectural Institute of Korea
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    • v.21 no.6
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    • pp.1-6
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    • 2019
  • Construction automation can be an effective alternative for the lack of skilled labor and loss of productivity. With such a background, Korean government has provided a lot of financial supports for the development of construction automation technology. However, despite of those efforts, automation systems at construction sites have rarely been employed. This is because the systems have not been developed with full consideration of the needs and environments on construction sites. Thus, the purpose of this study is to identify the critical success factors for efficient development of construction automation systems. This study compares and analyzes key factors for automated construction system(ACS) and construction information system(CIS). As a result, 'stability and reliability' in the ACS showed the highest importance while 'manageability' in the CIS was. Consequently, for the successful introduction of the ACS, technical capability and stability should be firstly considered to cope with dynamic construction environment, while the CIS should be built to enable efficient management and use of information. The result of this study can serve as an evaluation base for the current construction automation technologies and an index for more efficient technology development in the future as well.

Valuation of workout firms considering characteristics of the construction industry : focused on Black·Scholes Models (건설산업의 특성을 고려한 워크아웃기업의 가치평가 : Black·Scholes 모형을 중심으로)

  • Kim, Gu-Hoi;Won, You-Ho;Lee, Joo-Hyung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.8
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    • pp.4863-4873
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    • 2014
  • The Korean construction industry has played a major role among all industries despite its relative small ratio of all. The global economic crisis, however, has adversely affected the construction industry. Therefore, the Korean government implemented a corporate restructuring process to ensure the stability of the financial market. The selection standard on workout enterprises by the government is based on two perspectives: (1) external factors, including macroeconomic indices and (2) internal factors, including financial statements of private enterprises. On the other hand, if considering the characteristics of the construction industry, a certain construction company may not be evaluated only by its financial statements. In other words, a valuation process that utilizes the financial statements only can be concluded to be irrational. Accordingly, this study aims to provide the valuation model, which embraces the characteristics of workout firms, and determines their implications. To accomplish this, each enterprise valuation was measured using DCF and Black Scholes models, and by comparing such results with their market value, each enterprise was determined to be either under or over-valued. The results of this study verified that the valuations of 2 workout companies (out of 4) showed a higher value than the market value.

A Study on the Improvement of Youth Housing Support Policy

  • KIM, Sun-Ju
    • The Journal of Industrial Distribution & Business
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    • v.11 no.11
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    • pp.29-38
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    • 2020
  • Purpose: The problem of housing poverty among young people is a very important problem for the nation. Therefore, the main purpose of this paper is to identify the problems of the government's housing support policy for young people. And it is in presenting specific solutions by fully reflecting the opinions of experts. Research design, data and methodology: This study consisted of analyzing the following three research topics: 1) the differences of youth residential support housing policy impact on young adults' housing stability, 2) the problems and solutions of youth housing support policy, and 3) the differences of experts' opinions on the impact of government policy on youth housing stability. The subject of this study is the government's seven housing policies for young people. The targets include Happy Public Rental Housing (Happiness Housing), Station Area Rental Housing for youth (Station Area 2030), Public Dormitory for College Students (Public Dormitory & Hope Dormitory), Jeonse Rental Housing for College Students (Subject Lease Rental Housing for College Students), Social Housing for Young People, and Share House. The data was organized through expert surveys from 1st to 30th June 2020. The experts surveyed include professors & researchers, public officer & public institutions staff, and private developers of young adults' housing. The methodology of analysis on the problem and the solution of government policy was Frequency analysis. And analysis methods on differences of experts' opinion were ANOVA, Levene' test, and Schefe test. Results: Problems in Government's youth residential support housing policy include high rents, lack of supply, difficulty in acquiring rental housing, inconvenience in using shared spaces, conflicts with cohabitants, and invasion of privacy. Solutions include expanding supply to urban areas, establishing long-term plans, securing privacy, diversifying business methods, establishing platforms for rental housing transactions, and expanding various public support (financial support, etc). Conclusions: There was a difference in perception among groups of experts on the impact of public rental housing (called 'happiness housing') in youth housing stability. It is very urgent to come up with the most reasonable policy to support youth housing. This requires in-depth discussions by experts to narrow their differences.

QUADRATIC ρ-FUNCTIONAL INEQUALITIES IN NON-ARCHIMEDEAN NORMED SPACES

  • Cui, Yinhua;Hyun, Yuntak;Yun, Sungsik
    • The Pure and Applied Mathematics
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    • v.24 no.2
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    • pp.109-127
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    • 2017
  • In this paper, we solve the following quadratic ${\rho}-functional$ inequalities ${\parallel}f({\frac{x+y+z}{2}})+f({\frac{x-y-z}{2}})+f({\frac{y-x-z}{2}})+f({\frac{z-x-y}{2}})-f(x)-f(y)f(z){\parallel}$ (0.1) ${\leq}{\parallel}{\rho}(f(x+y+z)+f(x-y-z)+f(y-x-z)+f(z-x-y)-4f(x)-4f(y)-4f(z)){\parallel}$, where ${\rho}$ is a fixed non-Archimedean number with ${\mid}{\rho}{\mid}$ < ${\frac{1}{{\mid}4{\mid}}}$, and ${\parallel}f(x+y+z)+f(x-y-z)+f(y-x-z)+f(z-x-y)-4f(x)-4f(y)-4f(z){\parallel}$ (0.2) ${\leq}{\parallel}{\rho}(f({\frac{x+y+z}{2}})+f({\frac{x-y-z}{2}})+f({\frac{y-x-z}{2}})+f({\frac{z-x-y}{2}})-f(x)-f(y)f(z)){\parallel}$, where ${\rho}$ is a fixed non-Archimedean number with ${\mid}{\rho}{\mid}$ < ${\mid}8{\mid}$. Using the direct method, we prove the Hyers-Ulam stability of the quadratic ${\rho}-functional$ inequalities (0.1) and (0.2) in non-Archimedean Banach spaces and prove the Hyers-Ulam stability of quadratic ${\rho}-functional$ equations associated with the quadratic ${\rho}-functional$ inequalities (0.1) and (0.2) in non-Archimedean Banach spaces.

Study on the Effect of Labor Unions on Job Stability - Oaxaca Non-linear Decomposition of Probit-Logit - (노동조합이 고용안정에 미치는 효과에 관한 연구 - 프로빗-로짓의 Oaxaca 비선형분해 -)

  • Cho, Dong Hun;Cho, Joonmo
    • Journal of Labour Economics
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    • v.30 no.3
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    • pp.43-75
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    • 2007
  • This study reviews the trend of job separation rates for three years from 2002 to 2005 and investigates the various elements which influence this trend, especially the role of the labor unions, by using Korean Labor Panel data. In the basic statistics, the job retention rate of union members were higher by an average of 28.3% points compared to non-union members, but in the results of controlling the observed variables of individual influences in changing jobs, it was estimated that unions increase the job retention rate by 11% to 13% points. To investigate the effect of unions on the job stability of workers in detail, the non-linear decomposition method developed by Fairlie (2003) was used in the analysis. In examining the difference of job separation rates between union members and non-union members through observed variables of workers in explainable parts and unexplainable parts by using the non-linear decomposition technique, the contribution of the explainable part was estimated to be 67% to 74% and the unexplainable part accounted for the rest which was 26% to 33%. This suggests that not only does the union contribute to the job stability of its members, but the propensity to change jobs for a worker who is a union member is on average lower than that of a worker who is not a union member or who works at an establishment that does not have a union. The results of the empirical analysis show that the job stability effect of labor unions is limited within the boundary of a maximum 7% to 9% points. The reason for the effect of labor unions on job stability being so low is due to various reasons such as collective bargaining structure by company, intensified business competition after the financial crisis, and labor market segmentation.

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The Analysis of the current state and components of Korea's National Debt (한국의 국가채무 현황과 구성요인 분석)

  • Yang, Seung-Kwon;Choi, Jeong-Il
    • Journal of Digital Convergence
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    • v.18 no.9
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    • pp.103-112
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    • 2020
  • The purpose of this study is to examine the current status and components of Korean National Debt and to analyze the effects of each component on National Debt. In the Korean Statistical Information Service (KOSIS), we searched for data such as General Accounting Deficit Conservation, For Foreign Exchange Market Stabilization, For Common Housing Stability, Local Government Net Debt Public Funds, etc that constitute National Debt. The analysis period used a total of 23 annual data from 1997 to 2019. The data collected in this study use the rate of change compared to the previous year for each component. Using this, this study attempted index analysis, numerical analysis, and model analysis. Correlation analysis result, the National Debt has a high relationship with the For Common Housing Stability. For Foreign Exchange Market Stabilization, Public Funds, etc., but has a low relationship with the Local Government Net Debt. Since 1997, National Debt has been increasing similarly to the For Foreign Exchange Market Stabilization, For Common Housing Stability and Public Funds etc. Since 2020, Korea is expected to increase significantly in terms of For Common Housing Stability and Public Funds, etc due to Corona19. At a time when the global economic situation is difficult, Korea's National Debt is expected to increase significantly due to the use of national disaster subsidies. However, if possible, the government expects to operate efficiently for economic growth and financial market stability.

Strategy for the Successful Bio-venture in GMO Environment (성공적인 바이오벤처의 경영전략)

  • Park, Han-Oh
    • Proceedings of the Korean Society of Plant Biotechnology Conference
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    • 2003.04a
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    • pp.31-36
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    • 2003
  • Bio-venture companies have undertaken harsh environment after 2000 bubble corruption. It is unlike to be changed in the near future. The business model of near-term cash flow, financial stability and survival is a key issue to be discussed. The company shall be rearranged to achieve fast recovery from investment and have to show clear and quantitative business model to the investors. Nevertheless, bio-venture should not drop long-term value creation by sacrificing the possibility of emerging technologies. Prior to clarifing agro-bioventure business model, GMO strategy should have broad supports from stakeholders. The interests and worries of stakeholders are discussed and SWOT is analyzed. For sustainable economy of future, new technology continuously should be invested to fit ROI model of genomics-based GMO developments. Hybrid of products ${\varepsilon}$ technologies may be one of the favorites in this stormy season.

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A POINT COLLOCATION SCHEME FOR THE STATIONARY INCOMPRESSIBLE NAVIER-STOKES EQUATIONS

  • Kim, Yongsik
    • Bulletin of the Korean Mathematical Society
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    • v.50 no.5
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    • pp.1737-1751
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    • 2013
  • An efficient and stable point collocation scheme based on a meshfree method is studied for the stationary incompressible Navier-Stokes equations. We describe the diffuse derivatives associated with the moving least square method. Using these diffuse derivatives, we propose a point collocation method to fit in solving the Navier-Stokes equations which improves the stability of the direct point collocation scheme. The convergence of the numerical solution is investigated from numerical examples. The driven cavity ow and the backward facing step ow are implemented for the reliability of the scheme. Also, the viscous ow on complicated geometry is successfully calculated such as the ow past a circular cylinder in duct.

Business Continuity Strategies for Payment Systems (지급결제시스템의 업무연속성전략)

  • Lee, Seong-Il;Kim, Jeong-Deok;Kim, Yu-Jin
    • 한국디지털정책학회:학술대회논문집
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    • 2004.05a
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    • pp.545-558
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    • 2004
  • Payment Systems is one of critical infrastructures, which is increasingly dependent on IT. Failure to provide the payment services can bring disaster to national economy, which is the reason why business continuity of payment system receive much attention these days. Payment Systems are complex systems, which consist of multiple players: central bank, commercial banks, clearing house. The main purpose of this paper is to propose some business continuity strategies for the payment systems. First, in order to provide financial stability, this paper clarifies the concepts of business continuity plan(BCP). Second, this paper illustrates the processes to come up with business continuity strategies for the payment systems based on risk analysis and business impact analysis. Business continuity strategies are proposed in terms of two dimensions: vertical and horizontal.

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A study on the Measurement of the 『Quality of Life』 of Korean Farm household (농촌가정생활의 질 진단을 위한 일 연구)

  • 최은숙;김인숙
    • Journal of Families and Better Life
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    • v.8 no.2
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    • pp.87-100
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    • 1990
  • This study was carried out in an attempt to establish a preliminary scale for measuring $\boxDr$Quality of Life$\boxUl$ of Korean farm households, Data from randomly selected 318 farm households through our the country were analysis. The main results of this study were summarized as follows; 1) The objective levels of living conditions were relatively low in dietary life, healthy & sanitation, and financial stability and were relatively high in family relationship, household work and housing environment. 2) The subjective satisfaction level was lowest in leisure and were relatively high in family relationship and health & sanitation. 3) A comparison of objective level of living conditions and subjective satisfaction level suggested th score of the latter were higher than the former in dietary life and health & sanitation. In the contrary to this, the scores of the former were higher than the latter in housing environment, household work, child education, leisure and family relationship. In particular, the score of the subjective satisfaction level were much higher in housing environment and household work.

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