• Knowledge Management Research
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• v.21 no.2
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• pp.21-40
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• 2020

Korea Credit Guarantee Fund(KODIT) is a public financial institution under the provision of the Korea Credit Guarantee Fund Act. Facing the waves of change both locally and globally, KODIT will serve as 'social value creator' in making a paradigm shift from a large corporation(Conglomerate-dominated) economy to a social enterprise-oriented one based on social economy. This study focuses on the supporting service programs for social enterprises and job creation how it affects the performance of social value creation of KODIT. There is currently no detailed research of the social value in terms of the business and management academic agenda. Therefore, the present study describes the importance of social value creation on the policy financial institution. This study conducted in-depth case study for social value performance. As a public policy financial institution, KODIT exert diverse efforts to correct market failure and achieve inclusive growth. For example, KODIT extends credit guarantee services for the liabilities of promising corporations and stimulates financial and non-financial supporting programs for social enterprises. Although the role of social value and social economy has gained business field attention, few investigations have been conducted to explain how social value is achieved. The present study can thus act as the foundation for exploring the social value creation in the circumstances of public financial institution.

• Journal of the Korea institute for structural maintenance and inspection
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• v.5 no.4
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• pp.169-176
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• 2001

This study aims to present a more reasonable control value than the exiting one by comparing and analyzing control values and field instrument8tion values of the whole excavation depth of the four case sites, using geometric averaging as a statistical method. The range of the study is confined to the horizontal displacement of braced excavation walls among a variety of items, prescribed in the control values by approximately of the allowable and design values, and by safety factors. As a result, it is desirable to revise 70, 90, and 100 percent of LEVEL I, II, and III, respectively. The horizontal displacement values of the allowable and design values approximations should change to 104, 133, and 148 percent of the allowable and design values, respectively. In addition, modifying the horizontal displacement control value of the braced excavation walls is not needed. The horizontal displacement value, presented in the control value as a safety factor, is now 1.19, as it has a slight difference from the present value.

• Health Policy and Management
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• v.28 no.1
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• pp.77-86
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• 2018

Background: The purpose of this study is to emphasize the importance and necessity of the government's old-age preparation service by measuring the economic value of the old-age service and the policy direction and policy implications of the government's old-age preparation service project. Methods: Contingent Valuation Method (CVM) was used as an analytical method. CV methodology was used to calculate the Willingness to pay (WTP) for old-age preparation service and its value was estimated and the economic benefit of the project was estimated. Results: As a result of the analysis, the average monthly payment amount for the old service was calculated as 5,100 won, and the annual average payment amount was estimated to be 61,197.1 won. Conclusion: The present value of the benefit for 10 years with the discount rate of 5.5% is 484,651 won. Based on the value of peruser benefit, the total benefit value calculation result of the old-age preparation service considering the Willingness to pay for the next 10 years shows that the total benefit value of the old service, which occurs during the period from 2016 to 2025(10 years) was estimated at 415.1 billion won. As a result of calculating the benefit for each scenario, the present value of basic service is higher in all scenarios than the linked service.

• The Bulletin of The Korean Astronomical Society
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• v.38 no.2
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• pp.57.1-57.1
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• 2013

We investigate the method to measure both the present value of the matter energy density contrast and the Hubble parameter directly from the measurement of the linear growth rate which is obtained from the large scale structure of the Universe. From this method, one can obtain the value of the nuisance cosmological parameter $\Omo$ (the present value of the matter energy density contrast) within 3% error if the growth rate measurement can be reached $z >3.5$. One can also investigate the evolution of the Hubble parameter without any prior on the value of $H_0$ (the current value of the Hubble parameter). Especially, estimating the Hubble parameter are insensitive to the errors on the measurement of the normalized growth rate $f \sigma_8$. However, this method requires the high $z$ ($z >3.5$) measurement of the growth rate in order to get the less than 5% errors on the measurements of $H(z)$ at $z \leq 1.2$ with the redshift bin $\Delta z = 0.2$. Thus, this will be suitable for the next generation large scale structure galaxy surveys like WFMOS and LSST.

• Knowledge Management Research
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• v.9 no.4
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• pp.113-125
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• 2008

Net present value (NPV) and return on investment (ROI) are commonly used to evaluate investment in new technologies. Sometimes, however, measuring the value of investment in new IT becomes very difficult due to its wide scope of application coupled with embedded options in its adoption. Therefore, comprehensive but easily understandable methodologies are needed to solve the complicated problems resulting from the complexity of new technologies. This paper employs a real option analysis to evaluate RFID adoption in the supply chain. Real options analysis should be a better way to evaluate a disruptive technology like RFID. However, the pure (probabilistic) real option rule characterizes the present value of expected cash flows and the expected costs by a single number, which is not realistic in many cases. To solve the problem, this paper considers the real option rule in a more realistic setting, namely, when the present values of expected cash flows and expected costs are estimated by trapezoidal fuzzy numbers.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.323-336
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• 2021

The present study aims to examine the impact of real earnings management on the future value of the firm and its persistence. The study also tests suspect firm effects on the relationship between real earnings management and the future value of the firm. The sample of the present study consists of all listed non-financial firms from the year 2011 to 2018. Real earnings management has been measured in three alternative ways viz., abnormal operating cash flows, abnormal discretionary spending, and abnormal production cost. Tobin's Q is used as a measure of firm value. The interaction term of real earnings management and Tobin's Q is used to test firm value persistence. The results of the analysis disclose that out of three measures of real earnings management, abnormal reduction in discretionary spending only has a significant negative impact on the persistence of firm value. Moreover, the suspect firm analysis reveals that when the underlying motive of real earnings management is to meet zero earnings, both abnormal increases in operating cash flows and abnormal reduction in discretionary spending have a significant negative impact on firm value persistence.

• Journal of Korean Society for Quality Management
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• v.44 no.4
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• pp.869-881
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• 2016

Purpose: The objective of this study is to verify the economic validation of quality management integrated train freight car by analyzing economic evaluation indicators such as benefit and cost, net present value, and inter rate of return. Methods: First, we itemize benefit and cost field by reviewing literatures; Benefit consists of 1)Safety, 2)Operation, and 3)Maintenance; Cost consists of 1)Set-up fee, 2)Wireless internet fee, and 3)Cloud storage using fee. Second, based on these estimated values, we conduct an economic evaluation analysis. Among them, benefit and cost, net present value, and internal rate of return are selected. Results: As a result, all estimated values are highly over criterion of economic validity($$B/C{\geq}_-1$$, $$NPV{\geq}_-0$$, $$IRR{\geq}_-R$$); 1)benefit over cost ratio is 28.22, 2)Net present value is 8,121.66million KRW, and 3)Internal rate of return value is 2272%. Conclusion: The findings of this study will help making a decision when train industry adopts IoT technology for improving the effectiveness.

• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.2
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• pp.1-24
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• 2013

The research about customer value has developed over the past years in the marketing field. On the other hand, the stream of the idea has not fully been structured yet. It is the purpose of this research to present the process of development together with the intellectual structure in the field of customer value researches using "Author Co-citation Analysis" (ACA). For the purpose of the research, authors chosen were ranked in order of frequency according to their citations which were used for network analysis. Further, it was of advantage in finding the development process for this research from 1996 to 2011. The trend were set into three time-line groups/trends (1996~2000, 2001~2005, and 2006~2011) that were respectively analyzed. In conclusion, the research represents the intellectual structure of customer value in each period. The research having been tried, influenced a variable field in other marketing researches. While still, many researches limit their focus on a "one-way customer value, used by companies in the past and some in the present, many researches now have a wider perspective about the value and relationship of their customer and their company, together with the society at large.

• Bulletin of the Korean Chemical Society
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• v.18 no.5
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• pp.523-527
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• 1997

Apparent second-order rate constants (kapp) have been measured spectrophotometrically for the reaction of 2,4-dinitrophenyl benzoate (DNPB) with 6 secondary cyclic amines in H2O containing 20 mole% DMSO at 25.0±0.1 ℃. The Bronsted-type plot (log kapp vs. pKa) shows a break at pKa near 9.1, e.g. two straight lines with βapp values of 0.67 and 0.44 for the low basic (pKa < 9.1) and the highly basic (pKa > 9.1) amines, respectively. Using an estimated k2 value of 3×109 sec-1, all the other microconstants (k1, k-1 and K) involved in the present aminolysis have been calculated. The k value decreases with increasing the basicity of amines while k1 and K values increase with increasing the amine basicity, as expected. Good linear Bronsted-type plots have been obtained for these microconstants of the present aminolysis of DNPB. The magnitudes of the slope of the Bronsted-type plots, k1 and k-1 have been calculated to be 0.43 and - 0.24, respectively, indicating the k-1 step is about two folds less sensitive than the k1 step to the amine basicity. The K value has been calculated to be 0.66, which appears to be much smaller than the one for other aminolyses showing general base catalysis. The small K value has been attributed to the absence of general base catalysis in the present aminolysis of DNPB.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.25 no.5
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• pp.9-14
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• 2002

A capital investment problem is essentially one of determining whether the anticipated cash inflows from a proposed project are sufficiently attractive to invest funds in the project. The net present value(NPV) criterion and internal rate of return(IRR) criterion are widely used as means of making investment decisions. A positive NPV means the equivalent worth of the inflows is greater than the equivalent worth of outflows, so, the project makes profit. Business people are familiar with rates of return because they all borrow money to finance ventures, even if the money they borrow is their own. Thus they are apt to use the IRR in preference to the NPV. The IRR can be defined as the discount rate that causes the net present value of a cash flow to equal zero. Why the project are accepted if the project's IRR is greater than the investor's minimum attractive rate of return\ulcorner Against the NPV, the definition cannot distinctly explain the concept of the IRR as decision criterion. We present a new definition of the IRR as the ratio of profit on the invested capital.