• The Korean Journal of Ecology
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• v.23 no.4
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• pp.339-345
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• 2000

Heilongjiang Province has set up 104 nature reserves, with a total area of 2,641,700 ha, or 5.88% of the total area of the province. These constitute a network of nature reserves comprising most important types of nature reserves. and play an active role for improving the protection of the ecological environment and for the continuous economic and social development of the province. But in the management of these nature reserves, there are still some problems with people's idea, with educating the public, and with capital investment. These problems should be treated seriously. To preserve our natural heritage and biodiversity and to promote the sustainable development of our society and economy, it is projected that by the year 2000. the number of nature reserves in Heilongjiang is to reach 109, covering 6.17% of the total land area of the province. This percentage will be further increased to 8.62% by 2010, at which time the network of nature reserves is to have a proper distribution and comprehend all the important types of nature reserves. This will ensure the healthy development of the cause of nature conservation. with systematic planning, active protection. and sustainable use, so that ecological and social benefits can be developed hand in hand with economic benefits.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.467-474
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• 2013

Construction contactors must continuously seek to improve their cash flows, which reside at the heart of their financial success. They require careful planning, analysis, and optimization to avoid the risk of bankruptcy, remain profitable, and secure long-term growth. Sources of cash include bank loans and retained earnings, which are conceptually similar in that they both incur a cost of capital. Financial management therefore requires accurate yet customizable modeling capabilities that can quantify all expenses, including said cost of capital. However, currently existing cash flow models in construction engineering and management have strongly simplified the manner in which interest is assessed, which may even lead to overstating it at a disadvantage to contractors. The variable nature of cash balances, especially in the early phases of construction projects, contribute to this challenging issue. This research therefore extends a new cash flow model with an accurate interest calculation. It utilizes singularity functions, so called because of their ability to flexibly model changes across any number of different ranges. The interest function is continuous for activity costs of any duration and allows the realistic case that activities may begin between integer time periods, which are often calendar months. Such fractional interest calculation has hitherto been lacking from the literature. It also provides insights into the self-referential behavior of compound interest for variable cash balances. The contribution of this study is twofold; augmenting the corpus of financial analysis theory with a new interest formula, whose strengths include its generic nature and that it can be evaluated at any fractional value of time, and providing construction managers with a tool to help improve and fine-tune the financial performance of their projects.

• Knowledge Management Research
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• v.5 no.2
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• pp.67-98
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• 2004

New knowledge is created through the dynamic interaction of knowledge that depends largely on a social context within the organization. Social processes influence the nature of knowledge and learning. This paper is rooted in the concept of social capital. Social capital theory emphasizes the importance of social relationship. Using social capital theory, this paper suggests three factors that must be satisfied for the development of knowledge combinative capability. The first factor is that the opportunity exists to make the exchange or combination of knowledge. The second factor is that people is motivated for the creation of new knowledge. The third factor is that people must share the common knowledge. This paper examines the change case of KIPO (Korean Intellectual Property Office). This case provides evidence that the three factors can develop social relationship, and build knowledge combinative capability. The man finding from this research is that social factors play an important part in the creation of knowledge, and processes of knowledge exchange and combination heavily rely upon social patterns, practices and processes in ways which emphasize the value and importance of collective action and knowledge sharing. This research may have several implications for the development of the knowledge creation mechanisms.

• STI Policy Review
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• v.1 no.4
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• pp.21-28
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• 2010

This study analyzes the establishment of venture companies and the interaction of venture ecosystem components (the core factors of venture ecosystems) with a focus on venture companies, venture capital, and the return market. Government support policies are understood as a catalyst for the venture ecosystem and this study will analyze the implications of government involvement by identifying the role of government policies in the venture ecosystem. According to the results of the empirical analysis with data on confirmed venture businesses by the Small and Medium Business Administration (SMBA), policies that provide direct support to venture companies did not have a significant influence on the establishment of new ventures. However, new investments by venture capital show a statistically significant positive effect and signify that the new investment is an important factor in vitalizing the establishment of new venture businesses and that the economic conditions of the return market have a positive effect. The establishment of venture businesses responds to the changes in real and vertical markets with greater resilience compared to government policies. Given the unique nature of the Korean venture ecosystem that responds to the market with greater resilience than government policies, there must be increased efforts to recover the confidence of the capital markets for venture capital in order to promote improved efficiency.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.1 no.2
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• pp.157-192
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• 2006

Since the late 1990s, the Korean Venture Capital Industry has been remarkably grown in the aspect of quality and quantity. Korean government expects that the Venture company and Venture Capital Industry would contribute to the recovery of depressed Korean economy and restructuring of the high cost and low efficiency economic structure. Korean government reinforces supporting policies for the Venture Capital and Venture Business. Venture Capital is defined as the form of high risk and high profit investment capital growing the small & medium enterprises to competitive ones through capital and management support and collecting the capital. According to the Gompers and Lerners the venture capital cycle consists of raising investment capital, screening the investment opportunity and invest the money. And later, sold the retained stock to the other investor or to the company. This stage called EXIT Consequently, the function of the venture capital, which supply the fund and the business consultation to venture business, have been emphasized and how to effectively run this capital have been recognized as the way to develop the venture business. In this regard, the problem in Korean Venture Capital Market is as follows. First, most of the sources of fund depends on the government support and this conflict with the nature of risk capital because the government capital emphasis the stability than profitability. And secondly, the efficiency of the venture capital system in Korea do not reach that of the advanced countries due to many kinds of restriction and the rack of support. Consequently, the Activation Schemes for Korean Venture Capital Firms are as follows. First, the sources of venture capital need to diversify from angels to institutional investors such as banks, pensions, fund of fund. And Lastly, the internal management and operational system of venture capital companies should be strengthened by quality to that of global Venture Capital Firms.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.473-483
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• 2020

Internationalization of SMEs has gathered pace in recent times with falling trade barriers and rising world trade encouraging small firms to seek profits and growth in foreign markets. This has attracted the attention of researchers, and several studies have been conducted in Western nations on the factors influencing the process of SME internationalization. However, hardly any study has been done on SME internationalization in the Gulf Cooperative Council (GCC) region, thus leaving a gap in the literature. This study investigates the influence of four factors, namely, human capital, network competency, entrepreneurial orientation, and market volatility on the degree of internationalization of SMEs in Oman. The study employs survey data collected from 150 SME owners and managers using a structured questionnaire having 27 items, and has been analyzed using correlation and logistic regression, as the dependent variable is binary in nature. The results reveal the impact of the chosen variables on the degree of internationalization of SMEs. The findings of the study suggest that network competency has the highest impact on degree of internationalization of Omani SMEs, followed by human capital and entrepreneurial orientation, while market volatility, though insignificant, moderated the relationship between entrepreneurial orientation and degree of internationalization of Omani SMEs.

• Journal of the Korea Society of Computer and Information
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• v.3 no.2
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• pp.229-238
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• 1998

Current cost income is composed of current operating profit and holding gains. There is two viewpoints about the nature of current cost changes: earnings and capital adjustments. The former is based on the financial capital maintenance concept, while the latter is based on the physical capital maintenance concept. Proponents of current cost accounting are convinced that it provides more useful information than conventional accounting. Advocates of financial capital believe that current cost information is needed for management to evaluate their past decisions, and thereby be able to improve their decision-making ability. Defenders of historical cost point out that current cost accounting violates the traditional revenue recognition principle by recognising increases in the value of assets before sales.

• Knowledge Management Research
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• v.19 no.3
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• pp.135-171
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• 2018

Due to its nature, business foundation accompanies high levels of risk taking and responsibility. For this reason, entrepreneurs come to experience various negative emotions in the process of business foundation such as anxiety about risks, fear of failure, and pressure of success. However, entrepreneurs' negative emotions reduce individual inclinations for business foundation. Thus, it is necessary to research individual psychological characteristics that could reduce and attenuate entrepreneurs' negative emotions. To this end, this study examined the effects of Self-forgiveness, and Narcissism, psychological motivation variables, and Positive psychological capital and Career ambition, goal motivation variables, on entrepreneurial intentions. In order to verify research hypotheses, 326 questionnaires collected from prep-entrepreneurs were used for the empirical analysis. Looking at the analysis results, Self-forgiveness, Narcissism, Positive psychological capital and Career ambition had significant effects on entrepreneurial intentions. This study has a meaning in that it confirmed the influential relationship between the psychological characteristics reducing entrepreneurs' negative emotions and entrepreneurial intentions. In addition, this study suggested its implications, limitations, and future research directions based on the study results.

• Journal of Fisheries and Marine Sciences Education
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• v.21 no.2
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• pp.306-324
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• 2009

The purpose of this study is to analyze green growth issues such as employment, education and training, social capital and nature's standing right from the complementary perspective between natural environment conservation and economic growth. Green growth can be defined as a growth which lowers an increasing rate of entropy and at the same time improves our living standard. Green growth paradigm requires a quite amount of understanding the laws of thermodynamics and the uncertainty principle as the highest orders which regulate our overall socio-economic behaviors. They suggest that socio-economic growth is a mere transformation process of natural energy from one form to another and they increases natural manmade entropy over time. The most important issue of green growth policy may be a problem concerning employment and/or unemployment since green growth may induce inevitable movement of resources from the existing industries to the green sector. In particular, green industries will demand more highly specialized manpower than the existing ones. Without a well-designed new training education system and social capital accumulation toward environmental concerns, green growth may accompany a substantial amount of structural involuntary frictional unemployment. This may increase not only wealth-distribution disparity but also political instability. In order to achieve harmonious green growth, we should recognize that there are important complementary relationships between green and growth. Our society should also be able to innovate the existing educational system to accumulate social capital, to create a new sharing system, and to admit nature's standing right. Although the 2003 lawsuit case of Korean Salamander in Cheonseong Mountain went against plaintiff, it would provide apparently our society with a way of green development ahead.

• Management & Information Systems Review
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• v.28 no.3
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• pp.161-189
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• 2009

The sub-prime crisis led to the collapse of US investment banks which were considered highly competitive during the Asian Financial Crisis. The event gave us a lesson on importance of the financial supervision. Additionally concerns rise over the fact that the role model of the Capital Market Law, created for the purpose of developing the capital market, is the US investment banks. This paper investigates if the prudential regulations, among them especially the capital regulation, are able to prevent the risk the arises from Korean financial firms operating investment bank business. The current capital requirement regulation, Net Capital Ratio(NCR), is not sufficient, because it's nature of being a ratio makes the NCR ineffective when assets and liabilities are concurrently rising. We also verified the internal model which measured the market risk, by comparing the US investment and Korean banks' diversification effect. The result of the test is that it is difficult to conclude the internal model has a critical defect. This paper's contribution is that it is not sufficient use only the capital regulation in supervising financial markets.