• Journal of Technology Innovation
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• v.10 no.1
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• pp.83-97
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• 2002

With the limited resources the proper distribution of the national R&D investment is very crucial to improving the national competence. This crucial decision should be based on the priorities which are driven with the consideration about the relative importance among the scientific technology fields. Such priorities can be useful in planning the national R&D investment and in determining the direction of the national R&D investment policy. In this paper, we used the AHP in order to drive systematically and scientifically the priorities of the major science and technology areas in the national R&D investment, and also analyzed the evaluation differences among the expert groups.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.36
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• pp.159-166
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• 1995

In order to get equipments or facilities the company evaluates the alternatives on the investment and makes a decision in terms of investment economy. Quite often, however, companies face difficulties in generating investment alternatives and evaluating the alternatives generated. This paper discusses the methods of investment evaluation and shows a case study in which a specific method is applied to a firm.

• Journal of Korea Water Resources Association
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• v.39 no.12 s.173
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• pp.1067-1080
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• 2006

In empirical evaluations of public projects and public provided goods, MCDA(multicriteria decision-making analysis) has helped decision makers with an adequate policy decision-making tool since it allows taking into account a wide range of assessment criteria. As a tool for decision-making of conflict management, MCDA has demonstrated its usefulness in many public projects such as road, dam and harbor construction. In this study, to use this merit of MCDA, dam project assessment indicators from points of social, economic, environmental and practical views are developed based on sustainable development of water resources, and weighting factors are also estimated by means of questionnaire survey. In order to decide project investment rank, developed evaluation indicators are applied to 6 existing dams under investigation for a rehabilitation project. In addition to, it is recognized that the project practicability has become more important indicator as well as environmental and social issues. This is because cooperation and support from a local government and people are regarded as one of the most important problems in public projects recently.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.11-21
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• 2021

In the last few years, there is growing interest in the field of simultaneous equation estimation in finance due to the endogeneity problem caused by measurement errors, simultaneity, or omitted variables. This study aims to discuss the endogeneity problem in corporate financing decisions and investigate the interrelationship of financial decision-making such as investment decision, dividend decision, and external financing decision in Pakistan Stock Exchange (PSX) using two-stage least squares (2SLS) and generalized method of moment (GMM) estimation. The Bruech-Pagan test shows that the data has no heteroskedasticity issue and 2SLS is a better approach in the context of this study as compared to the GMM approach, and internal instruments are also sufficiently strong and valid. The three financial decision-making attributes are not jointly determined, and the dividend is influenced by one-sided investment. In the emerging stock market context, external financing and investment are not inter-related and did not affect each other. The question of whether the simultaneous equation estimation can be useful in the context of the emerging stock markets and newly-growing firms remains unanswered. The inclusive evidence shows that the theoretical link in the emerging stock market is difficult to prove like in developed stock markets.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.4
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• pp.45-55
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• 2022

Accelerator is a private investment institution that provides startups with comprehensive solutions to solve various difficulties such as startup facilities, funds, commercialization, securing a market etc. In addition to the role of an investor as a new startup support model, accelerators have contributed much to improvement of business ability of startups through intensive mentoring. Considering that previous studies gave weight to the determinants of investment from the perspective of investors, this study made a comparative analysis on the relative importance of determinants of investment in startups among accelerators, investors and entrepreneurs through the method of AHP. Results show that accelerators and investors regard "managerial characteristics" of startups as of the highest importance, whereas entrepreneurs think that "market characteristics" of startups are the most important. The result stems from an empirical judgment from the perspective of investors that success of startups depends on the ability of entrepreneur, and it is considered that investors evaluated marketability of startups as the most important factor in consideration of investment payback period. The result is similar to the result of previous studies on the determinants of investment determinants of angel investors and venture capitals. This paper is expected to make a contribution to the advancement of investment decision-making model for accelerators to discover startups with high possibility to grow and achieve more in incubation and investment.

• Journal of Information Technology Services
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• v.18 no.5
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• pp.155-164
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• 2019

With the emergence of new ICT technologies, information security threats are becoming more advanced, intelligent, and diverse. Even though the awareness of the importance of information security increases, the information security budget is not enough because of the lack of effectiveness measurement of the information security investment. Therefore, it is necessary to optimize the information security investment in each business environment to minimize the cost of operating the information security countermeasures and mitigate the damages occurred from the information security breaches. In this paper, using genetic algorithms we propose an investment optimization model for information security countermeasures with the limited budget. The optimal information security countermeasures were derived based on the actual information security investment status of SMEs. The optimal solution supports the decision on the appropriate investment level for each information security countermeasures.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.5
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• pp.31-47
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• 2022

The TIPS, a representative public-private cooperative project to revitalize the start-up ecosystem, is a government supported policy that promotes successful commercialization through various start-up support for technology-based startups. The purpose of this study is to analyze the investment decision factors of the TIPS program and to derive priorities. In order to achieve the research purpose, first, the investment decision factors were derived through literature analysis, a Delphi surveys were conducted on investors and experts participating in the evaluation of the TIPS program, and an AHP analysis was conducted on 20 VCs to empirically analyze the priority of factors on investment decisions. As a result of the analysis, the importance of critical factors was confirmed in the order of entrepreneurs(team) > market > product/service > finance > network. The importance of detailed factors was found in the order of entrepreneur's reliability and authenticity > market growth and scalability > team members' expertise and capabilities > adequacy of current market size > new market creation. This study presented the capabilities of technology-based startups preparing to participate in the TIPS program by deriving factors that influence investment decisions from an investor's perspective and comparing and analyzing the importance. It is also meaningful that basic data on determinants of private-led investment decision-making were presented to stake-holders such as venture capital, accelerator, and start-up support institutions.

• Journal of Internet Computing and Services
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• v.15 no.3
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• pp.91-100
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• 2014

While IT security investment of organizations has been increased, the amount of the monetary loss of organizations caused by IT security breaches did not decrease as much as their expectation. Also, from surveys, it was discovered that the poor usage of their security budget thwarted the improvement of the organization's security level. In this paper, to resolve the poor usage of security budget of organizations, we propose a comprehensive economic model for determining the optimal amount of investment in security solutions, including the proactive security solutions(PSSs) and the reactive security solutions(RSSs). Using the proposed analytical model under different parameters of security solutions, we show the optimal condition to maximize the expected net benefits from IT security investment of organizations. Also, we verify the common belief that the optimal level of investment in security solutions is an increasing function of vulnerability. Through simulations, we find the optimal level of IT security investment, given parameters of different characteristics of security solutions.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.23 no.9
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• pp.31-39
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• 2009

This paper shows prioritization process for equipment investment plans considering reliability indices and economical efficiency. To decide prioritization of distribution investment projects, we made a distribution system model using system configuration, it's component and load information and designed several investment alternatives to improve reliability of present system. Lastly, we proposed a evaluation model of economical efficiency assessment on distribution investment alternative projects. To analyze influence by reliability and economical efficiency, we produced economical effects with applying time-varying failure rate of KEPCO's main equipments of distribution system and interruption cost of electric power affected by investment. Finally, in order to insure the validity of this proposed methodology, we compared investment prioritization by economical evaluation with that of real investment alternatives of KEPCO's branch office. In conclusion, this paper shows what and how to interpret the reliability effects of distribution system investments into financial indicators beneficial for power utilities's managers to make decision on the perspective of corporate value.

• The KIPS Transactions:PartD
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• v.14D no.1 s.111
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• pp.107-120
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• 2007

When it tomes to IT investment, it's a challenge for the management to make the right decision. Unlike investment in other business area, it's hard to measure direct cost vs. effect in IT business. To validate the investment in IT, it is required to establish objective assessment system that both provider and beneficiary of information can accept, and it is also required to suggest an assessment tool of fixed quantity that includes measuring standards and method for the economic effect of new investment. This study, therefore, has developed IT ROI Methodology that can prove investment validity by accepting the strong points of the existing models while complementing their weak points and by analyzing IT Investment and IT Efforts. It also has built an IT ROI System that reflects the methodology which is applied to 21 companies of 5 business categories. This system is designed to provide effective and objective decision-making tool for IT investment by proving what positive impacts IT could have on business activities.