• Title/Summary/Keyword: investment decision

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Risk Based Approach to Business Planning and Management Control -Case Study on London Underground (위험도 기반에 의한 사업계획수립과 경영관리 -런던지하철 사례연구)

  • Jung, Won;Lim, Seung-Soo;Wang, Jong-Bae;Park, Chan-Woo
    • Proceedings of the KSR Conference
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    • 2007.05a
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    • pp.577-583
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    • 2007
  • In railway business plan, operations require a strategic and sustained level of planned investment to ensure assets are fit for purpose over the whole of their planned life. Therefore it is essential that operator can confidently plan and predict capital investment requirements over a number of years. This research addresses that how the London Underground apply a systematic risk based approach to their health and safety planning and investment decision making. Through this case study, we investigate the elements of management system that includes arrangements for the ongoing identification of hazards, assessment of risks and the implementation necessary control measures. Risk based business planning processes are also addressed.

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A study on the development of Maintenance Decision Logic for railway RCM using Risk Analysis (위험도분석을 통한 RCM 유지보수 결정로직의 개발에 관한 연구)

  • Shin, Seok-Kyun;Kim, Young-Sang;Lee, Key-Seo
    • Proceedings of the KSR Conference
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    • 2007.05a
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    • pp.266-271
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    • 2007
  • In these days, private investment for railway business has been expended and the importance of asset management arose. Especially new concept and effective management for the maintenance of railway have been developed. RCM(Reliability Centered Maintenance) is suggested to optimize the maintenance task and the proper maintenance decision logic for each system has been needed. But there are a lot of difficulties to apply the maintenance decision logic which has been developed in Aviation fields to railway. In this paper, the study on the development of the maintenance decision logic will be introduced through the risk analysis which has been applied to analyze the safety of railway.

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Study on the Make or Buy decision using system dynamics: Defense industry (시스템다이내믹스를 이용한 제조 또는 구매결정에 관한 연구: 방위산업을 중심으로)

  • Ko, Seong-Pil;Jung, Euy-Young;Lee, Jeong-Dong
    • Korean System Dynamics Review
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    • v.15 no.4
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    • pp.85-100
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    • 2014
  • We propose a composite make or buy decision model considering both the transaction cost theory and the resource based view in the Korean defense industry using System Dynamics. We analyze relationship between core variables(transaction frequency, technological uncertainty, the level of technological dependency, technological level and acquisition ability for market information) and 'Make or Buy decision' focused on technological innovation capability. Based on the result, we propose the implications as follows : First, the defence industry needs more R&D investment. Second, it needs a balance between domestic(Make) and overseas(Buy) to increase the technological capability rapidly.

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A Fuzzy AHP based Decision-making Model for SCM System Selection (SCM 시스템 선정을 위한 Fuzzy AHP 기반의 의사결정 모델)

  • Seo, Kwang-Kyu
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.30 no.3
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    • pp.158-164
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    • 2007
  • Supply Chain Management (SCM) system is a critical investment that can affect the competitiveness and performance of a company. Selection of a right SCM system is one of the critical issues. This paper presents the characteristic factors of SCM system and a Fuzzy AHP (Analytic Hierarchy Process) based decision-making model for SCM system evaluation and selection. This study focuses on quantitative factors, applying the fuzzy concept to various evaluative factors. The proposed model can systematically construct the objectives of SCM system selection to achieve the business goals. A empirical example demonstrates the feasibility of the proposed model and the model can help a company to make better decision-making in the SCM system selection problem.

Financial Structural and Operational Characteristics and Management Decision-making Behavior of the Red-figured Hospitals (적자병원의 재무구조 및 운영적 특성과 경영의사결정 행태)

  • Hwang, In-Kyoung
    • Korea Journal of Hospital Management
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    • v.4 no.2
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    • pp.305-329
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    • 1999
  • Financial ratio indicators of the 46 sample hospitals provided by the Korea Health Industry Development Institute, together with the survey data responded by the 57 sample hospitals, were analysed to identify the characteristics of the red-figured hospitals' financial structure, financial operational efficiency and management decision-making behavior, The financial characteristics identified through the analysis include high dependency to liabilities, high salary expenses and overhead costs, low profitability of the unduly large amount of fixed assets, and low managerial efficieny of inventory. The hospitals, in face of the IMF economic impasse, took the necessary decision-making and counter measures to cut down salary expenses, to increase the number of patient and medical revenue, and to reduce investment to fixed assets. Based on these findings this study suggested that the hospitals should take more active cost containment measures, financial structural reorganization, and developoment of the strategies that can contribute to increase of the number of patient and medical revenue and that do not. require much capital funds.

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Implementing a Sustainable Decision-Making Environment - Cases for GIS, BIM, and Big Data Utilization -

  • Kim, Hwan-Yong
    • Journal of KIBIM
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    • v.6 no.3
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    • pp.24-33
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    • 2016
  • Planning occurs from day-to-day, small-scale decisions to large-scale infrastructure investment decisions. For that reason, various attempts have been made to appropriately assist decision-making process and its optimization. Lately, initiation of a large amount of data, also known as big data has received great attention from diverse disciplines because of versatility and adoptability in its use and possibility to generate new information. Accordingly, implementation of big data and other information management systems, such as geographic information systems (GIS) and building information modeling (BIM) have received enough attention to establish each of its own profession and other associated activities. In this extent, this study illustrates a series of big data implementation cases that can provide a lesson to urban planning domain. In specific, case studies analyze how data was used to extract the most optimized solution and what aspects could be helpful in relation to planning decisions. Also, important notions about GIS and its application in various urban cases are examined.

A Study on Investment Determinants by Investment Size of Startup Accelerators (스타트업 액셀러레이터의 투자 규모별 투자결정요인에 대한 연구)

  • Heo, Joo-Yeun;Jeong, Seung-Hwa
    • Korean small business review
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    • v.43 no.1
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    • pp.187-219
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    • 2021
  • Startup accelerators, a new type of investment entity, have emerged as a way to solve the difficulties of early startups and existing investment methods with high risk. With the visible performances of these startup accelerators on the success of startups, medium and large accelerator companies have emerged, along with the increasing size of seed money they invest in. In addition, differences between small and medium&large accelerator companies are emerging. Therefore, startups need informations on what factors to prepare for attracting startup accelerators' investment. Accelerators also need determinant criteria to select startups as the amount of investment grows. However, the study on this subject is not currently being conducted. Therefore, we conducted the study through dividing the average amount of seed money into small and medium & large-sized investment groups and examined the differences in major investment determinants, investment purposes, and major accelerating programs. As the results of this study, small investment groups could be subdivided into 'consulting-oriented accelerators' and medium- and large-sized investment groups into 'investment-oriented accelerators'. In addition, major services and investment purposes and investment decision criteria vary depending on the size of the investment. I think these findings will be good standards for accelerator companies, startups in need of their help, and follow-up researchers.

The Effect of Self-enhancement Perception and Confidence of Investment of Individual Investors on Risky Investment Behaviors (개인투자자의 자기고양적 지각과 투자확신이 위험투자행동에 미치는 영향)

  • Mi Young Han ;Jae Hwi Kim
    • Korean Journal of Culture and Social Issue
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    • v.13 no.3
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    • pp.89-109
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    • 2007
  • This study is an exploratory study on stock investment behaviors of individual investors in psychological perspective. The study is based on many behavioral finance studies which overconfidence of individual investors has an effect on irrational investment decision making and investment behaviors such as excessive trading. Accordingly, this study was to investigate the factors of self-enhancement perception on confidence of investment of individual investors and to find whether these psychological biases lead to irrational investment behaviors. The results indicated that there were sex differences in the factors of self-enhancement perception on individual investors' confidence of investment. In case of male investors, they were confident of their ability of investment but in case of female investors, they were confident of optimistic expectation of return. Also, male investors were more confident of investment than female investors. In addition, the result showed that risky investment behaviors of individual investors were influenced by psychological factors such as favorable self-evaluation, confidence of self-controllability, optimistic expectation of return and confidence of investment in part. This study suggests that further researches need to search after other variables which can mediate between psychological factors and investment behaviors of individual investors.

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A Study on the Determinants of Investment in Startup Accelerators (스타트업 액셀러레이터의 투자결정요인에 대한 연구)

  • Heo, Joo-yeun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.15 no.5
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    • pp.13-35
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    • 2020
  • Startup accelerators are a new type of investors providing a certain amount of shares for imparting education, mentoring, networking, and providing space and seed money that can directly resolve the difficulties faced by nascent entrepreneurs (Clarysse, 2016). Startup accelerators have expanded worldwide as their influence over the startup ecosystem has increasingly been established (Pauwels et al., 2016; Cohen & Hochberg, 2014). This study was conducted to derive investment determinants of startup accelerators that are emerging as major investment players around the world. To this end, the accelerator-type determinants of investment were derived. As previous research on this topic is nonexistent, this process involved qualitative meta-synthesis, literature reviews, observation, and in-depth interviews. First, more than 30 research papers were examined for the determinants of investment for firms at an early stage of their foundation, and the categories and determinants of investment in the relevant studies were comparatively analyzed using qualitative meta-synthesis. Further, related data were investigated to identify the characteristics of accelerators, and the startup evaluation process of US accelerators was studied. The more than 100 questions raised during this process were coded to examine the determinants of investment that accelerators considered important. In-depth interviews were conducted with four US accelerators to identify the characteristics of accelerators and key determinants of investment. Ultimately, 5 categories of accelerator-type determinants of investment and 26 subordinate determinants of investment were derived. The results were verified and supplemented by consulting with seven accelerators in Korea. The results were confirmed after pilot tests and verification by seven domestic accelerators. After confirming the accelerator-type determinants, the reliability of them was verified by examining the importance and priority of each category through the quantitative survey of Korean accelerators. The research that elicited the accelerator-type investment determinants is the first research and is expected to be a major reference to the progress of subsequent studies. This research that systematically derived the investment determinants of the accelerator is expected to make major contributions to the progress of follow-up studies, the process of selecting startups, and the investment decision-making process of the accelerators.

Asymmetric Effects of Inflation Uncertainty on Facilities Investment (인플레이션 불확실성의 기업 설비투자에 대한 비대칭적 효과 분석)

  • Son, Minkyu;Chang, Youngjae
    • The Korean Journal of Applied Statistics
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    • v.27 no.1
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    • pp.123-132
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    • 2014
  • Inflation uncertainty is known to have deleterious effects on facilities investment by disturbing the corporate decision on the opportunity cost of investment. In this paper, we test the validity of this hypothesis in Korea by estimating the inflation uncertainty with both a time-varing parameter model with GARCH disturbances and the relative price volatility and then, estimate the facilities investment equation which includes those uncertainty indicators. The uncertainty indexes estimated by the above-mentioned methods continue to fluctuate even after the inflation rate has dropped dramatically reflecting the structural changes of Korea's economy since the financial crisis in 1997. As a result of estimation of the investment equation by both OLS and GMM, we find the inflation uncertainty has a negative effect on facilities investment with a statistical significance. Moreover, by means of Markov-switching regression model utilized to verify the non-linearity of this relationship, we draw a conclusion that this negative effect of inflation uncertainty heightens asymmetrically during the downturn periods of business cycle.