• 한국농공학회논문집
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• 제48권6호
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• pp.31-41
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• 2006

The analysis used in this work was cost-benefit analysis method. All future costs and returns of a given mushroom house were discounted to the time of initial investment (present) by means of 3.5% discount rate. Then the cost of ownership was compared to the return from the system. This analysis method has been developed and coded into a balance sheet for use on a EXCEL program. Using this programmed analysis,a large number of the case studies were examined using different combinations of economic conditions. These results will be very useful to individuals considering investment in a mushroom house, or any similar production system. By the way of the sensitivity analysis for each important parameter, the change of the marginal cost-benefit period could be finally determined. These parameters were typically construction cost of mushroom house, cost of cooling system, required cooling and heating energy amounts, unit price of mushroom media bottle, growing number of media bottles, production weight per unit bottle, sale price of mushroom, and annual number of growing period, etc.

• 한국산학기술학회논문지
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• 제7권3호
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• pp.483-493
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• 2006

본 연구는 보험감독규정과 보험회계준칙의 분리계정(구분계리 포함) 관련 규정을 개선하기 위한 대안을 제시하기 위해 수행되었다. 구분계리, 포괄적으로는 분리계정은 회계의 투명성을 증가시키고 보험회사의 주주와 보험계약자 사이의 이익 배분의 공정성을 높이는데 기여할 수 있다. 구분계리의 유용성을 높이기 위해서는 국제회계기준의 변화된 내용, 보험상품별 성과 구분, 보험상품별 경제적 실질이 반영될 수 있어야 한다. 분리계정이 성공적으로 정착된다면 보험계약자에 대한 공정한 이익배분 뿐만 아니라 생명보험회사 상장시의 보험계약자 이익 보호와 관련된 논쟁의 해결에도 기여할 것이다.

• Journal of Construction Engineering and Project Management
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• 제3권3호
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• pp.23-34
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• 2013

As climate change and environmental pollution become one of the biggest global issues today, new renewable energy, especially solar photovoltaic (PV) system, is getting great attention as a sustainable energy source. However, initial investment cost of PV system is considerable, and thus, it is crucial to predict electricity generation accurately before installation of the system. This study analyzes the loss ratio of solar photovoltaic electricity generation from the actual PV system monitoring data to predict electricity generation more accurately in advance. This study is carried out with the following five steps: (i) Data collection of actual electricity generation from PV system and the related information; (ii) Calculation of simulation-based electricity generation; (iii) Comparative analysis between actual electricity generation and simulation-based electricity generation based on the seasonality; (iv) Stochastic approach by defining probability distribution of loss ratio between actual electricity generation and simulation-based electricity generation ; and (v) Case study by conducting Monte-Carlo Simulation (MCS) based on the probability distribution function of loss ratio. The results of this study could be used (i) to estimate electricity generation from PV system more accurately before installation of the system, (ii) to establish the optimal maintenance strategy for the different application fields and the different season, and (iii) to conduct feasibility study on investment at the level of life cycle.

• KIEAE Journal
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• 제6권1호
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• pp.3-10
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• 2006

As has been expected, economic factors are a major consideration in almost every decision in building design process. Assuming that improving a lighting system, existing or proposed, will reduce operating cost, what preliminary economic guidelines can be established to determine whether any proposed investment appears cost effective? In such a case a reasonable technique to compare system costs is by life-cycle costing. Stated simply, a life-cycle cost represents the total cost of a system over its entire life cycle, that is, the sum of first cost and all future costs. This paper aims to exemplify the benefit of daylighting in term of economic consideration. Four different electric lighting system designs are proposed and a lighting control system that is continuously operating according to the level of daylight in the space has been adapted. The accumulated performance of electric and daylighting is figured out to declare the effective depth of daylight in the space. The analysis on the saving amount of lighting energy due to daylight has been undertaken in answer to the question, that is, several projects are being considered, which is the most desirable from the cost-effectiveness viewpoint. The result shows clearly that although denser layout of lighting fixtures might be more effective to interface to the level of daylight ceaselessly changeable, its economic benefit may not meet the expected criterion the reason of increased initial investment and maintenance cost for the fixtures and control hardware.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.549-556
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• 2020

Real estate markets play an essential role in the economic development of both developed and developing countries. Investment decisions in private real estate demand the consideration of several qualitative and quantitative criteria. Especially in Vietnam, demand for housing, apartments are rising which has resulted because of the migration from rural to urban areas. This study aims to determine the influencing factors of the real estate purchasing behavior and then recommend a grey Multi-Criteria Decision Making (MCDM) support model to evaluate real estate alternatives based on a numerical example in Vietnam. A set of essential criteria are identified based on experts' opinion, and the proposed determinants are initial investment, maintenance cost, prestige location, distance to interesting places, parking lot, public transportation, property condition, total area size, number of rooms, and neighbors. The subjective weights were obtained by using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) model, and the Grey Relational Analysis (GRA) technique is employed to prioritize and rank real estate alternatives. The results reveal that this approach can be useful to make purchasing decisions for many kinds of real estate property under uncertain business environments. These findings indicate that the presented hybrid model has advantages in granting flexibility to the preferences of decision makers.

• KDI Journal of Economic Policy
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• 제42권2호
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• pp.1-30
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• 2020

This paper analyzes how injunctions relate to patent hold-up problems. To this end, we present a simple model of licensing negotiations between a patent holder and a downstream firm in the shadow of litigation. More specifically, we consider the situation in which an injunction is granted as a matter of course if a patent is found valid and infringed upon in litigation, but the patent holder may be under-compensated due to aspects of the patent remedy system other than injunctions. We show that if the downstream user is unaware of the patent before any investment in initially designing its product, the patent hold-up problems created by injunction threats are worrisome when (i) the redesign process is costly, (ii) the degree of patent protection (by aspects of the patent remedy system other than injunctions) is sufficiently strong and (iii) the injunction is requested not to practice the patented technology exclusively but to collect excessive patent royalties. Even if the downstream user is aware of the patent before the initial investment, the patent hold-up problems do not disappear. The findings here imply that a discretionary approach is required towards denying injunctions against patent infringement. If the degree of patent protection is not sufficiently strong, denying injunctions can exacerbate the under-compensation problem. However, once patent protection improves enough (not necessarily perfectly), we may see a surge of patent hold-up problems, and it would be better to apply alternative patent remedies in place of injunctions when necessary. Lastly, we discuss several possible alternatives to injunctions and their pros and cons.

• 디지털산업정보학회논문지
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• 제8권3호
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• pp.33-39
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• 2012

Since the passing of the Personal Information Act in March 2011 and its initial introduction in September, over the one year to date diverse security devices and solutions have been flowing into the market to enable observance of the relevant laws. Beginning with security consulting, corporations and institutions have focused on technology-based business in order to enable observance of those laws competitively in accordance with 6-step key procedures including proposal, materialization, introduction, construction, implementation, and execution. However there has not been any investment in human resources in the field of education such as technology education and policy education relative to the most important human resources field nor investment in professionals in the organization for the protection of personal information or in human resources for operating and managing IT infrastructure for actual entire personal information such as special sub-organizations. In this situation, as one process of attracting change from the nature of the technology-based security market toward a professional human resource-based security infrastructure market, it is necessary to conduct research into standardization modeling concerning special organizational composition and a management system for the protection of personal information.

• 농촌지도와개발
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• 제28권4호
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• pp.167-174
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• 2021

This study analyzed the feasibility of custom work service to deal with the imbalance of farm labor supply due to population aging. The economic feasibility analysis is based on the case of Bonghwang-myeon in Naju-si, where the majority of farm work is entrusted to local agricultural cooperative. To assess the project profitability and economic feasibility based on the projected cash flow for the next ten years, Return On Investment (ROI), Net Present Value (NPV), and Internal Rate of Return (IRR) of the projects were calculated. The results showed that ROI is estimated at 13.7%, and NPV and IRR are KRW 1,504,932,000 and 15.6%, respectively, with a discount rate of 4.5%, indicating a good enough profitability. Furthermore, a sensitivity analysis with government support as part of an assumption showed that without the support, NPV turns negative, implying that the project is not profitable, and that government support for at least 30% of the cost is needed to secure the economic feasibility of a project. Hence, to promote agricultural work entrustment, it is necessary for the government to partly support the agricultural machinery and facility costs, which require a considerable amount of initial investment.

• International Journal of Internet, Broadcasting and Communication
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• 제14권3호
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• pp.243-248
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• 2022

Considering the current situation where cash transactions account for 51.5% of private consumption expenditure, it is very important to secure a tax base by exposing business operators' cash transactions. In the September 2011 national audit, it was pointed out that although a significant part of the investment amount of businesses (VAN operators, etc.) related to the issuance of cash receipts has been recovered, they are still supported through the state tax. At this point in time when a significant amount of the initial investment has been recovered, it is necessary to study a new way to support business operators through methods other than the tax credit method. This study proposes various methods to improve the current cash receipt system and describes the advantages and disadvantages of each method. The most important thing for the improvement of the cash receipt system is that the issuance of cash receipts should be beneficial to business operators. As a result of this study, the most desirable improvement method is to provide differential compensation for the discriminatory cost because the cost is different for each cash receipt operator. For this purpose, we analyze the best way to improve the cash receipt system is a tax credit method and a tax credit for maintenance costs.

• 아태비즈니스연구
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• 제13권2호
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• pp.1-22
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• 2022

Purpose - The purpose of this study is to examine the effect of VC investment on the IPO and post-IPO performance of Chinese firms. Design/methodology/approach - By utilizing CSMAR and VentureXpert database, we construct a firm-year panel data covering all listed firms in the Chinese stock market from 2006 to 2018. Findings - First, we find that VC-backed firms are significantly less underpriced than non-VC-backed firms. Our results show that the initial IPO-day return of VC-backed firms is 0.16% lower than that of non-VC-backed firms. Next, we find that VC-backed firms demonstrate significantly worse operating performance than non-VC-backed firms after the IPO. In the next three years following the IPO, VC-backed firms underperform non-VC-backed firms by 0.4% in terms of ROA and by 0.6% in terms of ROE. Research implications or Originality - Our results support the Grandstanding Hypothesis, among several competing hypotheses regarding the effect of VC investment, which suggests that VCs window dress their IPO firms for their early exit at the expense of a poor operating performance of the IPO firms after going public.