• 한국농공학회지
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• 제14권3호
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• pp.2749-2760
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• 1972

The aim of this study is to decide the effective scale of investment and regional of flood control project in chronical inundation area of Moo-Han River vicinity by selecting objective regions of Seong-Jang, Yae-San, Oh-Ka and Shin-Ahm areas. In order to accomplish, the writer conducted research on the extent of damages, assets and hydrographic patterns of flood in the areas as described in foregoing chapters, and further analized the research in the method of survey and investment efficiency evaluation for flood control directed by the Ministry of Construction. According to the above analysis, the writer concluded as follows: The investment efficiency is different depend upon regional character. However, it is found that economic efficiency is high throughout in probility year 70. Therefore, the writer consider the scale of economic investment should be same as that of probability year 70 amounted \610,904,000 and regional priority are as following table. Considering the time length, objective areas of study and difficulties encounted during research,, this study is belioved to be insufficient. Accordingly, it is hoped that this study is continued to complete problems undone and is contributive to rationalize the flood control project in this areas.

• 무역학회지
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• 제44권3호
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• pp.123-136
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• 2019

This study investigates the facilitating factors of FDI (foreign direct investment) inflows in 15 developing countries of three continents (Asia, Latin America, and Africa) using fixed-effect panel regression analysis with 30-year macro socio-economic data. The facilitating factors of FDI inflows in each continent differed. In Asia, labor compensation, GDP, consumer expenditure, human capital, and export facilitated FDI inflows in decreasing order, as did export, total factor productivity, GDP, and human capital in Latin America, and investment expenditure, human capital, government expenditure, and export in Africa. Most importantly, the character of cost saving efficiency-seeking investment was very strong in Asia. Also, third-party export-oriented investment and economic growth-oriented investment were shown in Latin America and Africa, respectively.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.49-59
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• 2021

This study empirically analyzes the effect of firm overinvestment propensity on the value relevance of capital investment. In order to verify this point, this study attempts to analyze the value relevance of overinvestment firms' capital investments. The analysis was performed according to the model of Biddle et al. (2009) and McNichols and Stubben (2008) on overinvestment propensity for analysis, and the results are as follows. First, in terms of overinvestment, corporate capital investment shows negative value relevance, so the excessive investments above reasonable levels have reduced firm's value. In contrast, the value relevance for capital investment showed a positive value for firms whose managerial propensity changed, that is, from under-investment in the previous year, it shifted to overinvestment in the current year. Second, as a result of analyzing the value relevance of the investment increase according to the investment propensity, the overinvestment firms showed negative values and the underinvested firms showed positive values; thus, the value relevance of the increase in investment was opposite to the investment propensity of the firm. These findings confirm that the stock market differentially evaluates investment efficiency according to investment propensity, continuity, and investment alterations, and reflects it appropriately in the firm's value.

• 국제지역연구
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• 제15권3호
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• pp.429-449
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• 2011

본 연구에서는 지난 30년간의 한국 해외직접투자 자료를 이용하여 투자유형과 제도적 거리가 해외직접투자의 의사결정에 미치는 영향을 분석하였다. 한국기업의 해외직접투자 총액을 종속 변수로 시장추구, 효율성추구, 전략적자산 추구, 자원추구와 같은 투자유형과 경제적 거리, 정치적 거리, 문화적 거리와 같은 제도적 거리를 독립변수로 하여 패널분석을 시행하였다. 분석결과, 한국기업들은 시장추구(시장크기), 효율성추구, 전략적자산 추구를 위해 해외직접투자를 수행하는 것으로 나타났으며, 제도적 거리 중 경제적 거리가 해외직접투자에 영향을 미치는 것으로 나타났다. 또한, IMF 외환위기 전후로 해외직접투자 결정요인의 변화에 대해서도 비교분석 하였다. 분석결과, IMF 외환위기 이전에는 시장추구, 전략적자산 추구를 위해 해외직접투자를 수행하는 것으로 나타났으며, IMF 외환위기 이후에는 시장추구(절대적 시장크기, 시장성장률), 전략적자산 추구형 투자와 아울러 효율성 추구형 투자를 하는 것으로 나타났다. 또한, IMF 외환위기 이전과는 다르게 제도적 요인 중 경제적 거리 변수인 투자대상국의 FDI 투자에 대한 개방성, 투자국과의 교역량이 해외직접투자와 양(+)의 유의적 관계가 있는 것으로 나타났다.

• KDI Journal of Economic Policy
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• 제39권4호
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• pp.25-50
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• 2017

Whereas a large variety of previous studies show mixed results regarding the relationship between public investment and economic outcome, several studies have been conducted on related issues in Korea. The present study deals with the effect of public investment in Korea on economic growth and productivity. Using administrative data, it exploits three different methodologies: the total factor productivity approach, production function approach, and stochastic frontier production function approach. The results of this study show that public investment has a statistically significant effect on economic growth. However, it contributes little to enhance productivity. It is explained that there exists inefficiency of production in the Korean economy. These findings indicate that public investment has played a central role in the direct input factor and not in indirect role in Korea. Thus, it is necessary for public investment policies to concentrate on enhancing the efficiency of the Korean economy.

• 지역연구
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• 제13권2호
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• pp.75-92
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• 1997

This paper is concerned with an estimation of optimal investment of road sector in 1996-2005. The main method is a Computable General Equilibrium (CGE) Model for Korea in which the optimal solution is derived in a recursively dynamic path. The model is composed of three main modules: the supply, the demand and the price. In this paper, the investment demand for the road is optimized with subject to national economic growth and price inflation. If the annual inflation level and the economic growth rate during 1996-2005 are set to 4.5%-5.0% and 6.0%-6.5% respectively, the optimal demand for the road investment is estimated as 155.1-180.1 trillion Won or 3.33%-3.89% of the GDP for ten years. It implies that the additional increase of the road investment by 0.61%-1.15% of the GDP is required for sustainable economic development, since the share of the road investment in the GDP of the latest 5 years has stayed around 2.27%. However, it is necessary to reduce construction investments on housing as well as to promote private financing of the road in order to maximize an efficiency of resource allocation.

• 한국항만경제학회:학술대회논문집
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• 한국항만경제학회 2003년도 정기학술대회지
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• pp.221-242
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• 2003

The purpose of this paper is to investigate the effectiveness of port investment which is one of the important elements for measuring the port efficiency by using congestion approach of DEA(Data Envelopment Analysis). Congestion is said to be present when increases in inputs result in ouput reductions. Congestion approach takes the forms of weak input disposability and strong input disposability. Empirical analysis by using congestion approach in this paper identified inefficiencies in the inputs including port investment, and indicated inefficient ports like the ports of Sokcho, Gunsan, Pohang, and Seoguipo which shows the large amount of slacks with congestion especially in terms of port investment. Therefore these ports should examine the reason about the inefficiency of port investment. The main policy implication based on the findings of this study is that The Ministry of Maritime Affairs & Fisheries in Korea should introduce congestion approach when the amount of port investment to each port is decided.

• International Journal of Aerospace System Engineering
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• 제5권2호
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• pp.1-7
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• 2018

This study examines the history of Korean aviation industry and presents the investment strategy based on the evidence and the 4th industrial revolution. Looking at the evolution of the Korean aviation industry and its technological development will be a great help to support industrial and technological innovation in the future. The modern aviation industry is divided into stages of development, focusing on maintenance of equipment introduced in advanced countries, localization through license assembly, production of products based on technology, and international joint development. The development of aeronautics technology has been progressing towards a general improvement of economic efficiency, aircraft safety efficiency through environmental-friendliness, unmanned operation, and downsizing. The Korea Aerospace Research Institute has secured key technologies through development of several aircrafts such as Experimental Aircraft Kachi, EXPO Unmanned Airship, Twin-engine Composite Aircraft, Canard Aircraft, Multi-Purpose Stratosphere unmanned-airship, Medium Aerostats, Smart UAV, Surion, EAV-2H, KC-100, and OPV. The development strategy is discussed at the level of the evidence-based investment strategy that is currently being discussed, and so the investment priorities in aircraft is high. Current drone usage and development direction are not only producing parts using 3D printer, but also autonomous flight, communication (IoT, 5G), information processing (big data, machine learning). Therefore, the aviation industry is expected to lead the fourth industrial revolution.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.33-42
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• 2021

This study aims to investigate the relationship between foreign direct investment (FDI) and economic growth at the provincial level by using time-series data in Binh Dinh from 1997 to 2019. We applied the quantitative approaches Vector Autoregression (VAR) and Autoregressive Distributed Lags (ARDL) in the model, which includes economic growth, real foreign direct investment capital, ratio of trained workers, and infrastructure. The results show that all these variables are stationary at the first difference. In ARDL analysis, we found that the economic growth positively affects FDI attraction. However, there is no evidence of the effect of FDI on economic growth in the condition of low capital implemented. Moreover, findings also show that the impact of FDI on economic growth is influenced by two factors: infrastructure and human capital. The lack of human capital, which is trained personnel and infrastructure, is the main barrier hindering and inhibiting FDI's contribution to local economic growth. In order to improve the efficiency of FDI on economic growth in the future, it is suggested that the Binh Dinh government should have proper policies in terms of the infrastructure, the human capital investment. They would allow Binh Dinh to enhance the capital absorptive capacity and capital efficiency.

• Journal of Information Technology Applications and Management
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• 제15권3호
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• pp.27-41
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• 2008

This paper examines the relationship between IT investment and the improvement of efficiency from the perspective of organizational contingency by the type of organizations and their maturity in IT use in terms of their history of e-commerce use. Organizations are divided into private and public in nature, and into experienced and inexperienced in e-commerce. An analysis was performed on data from 286 organizations in tourism industry. Comparison among the four groups showed differences in competitive and operational efficiency.