• 제목/요약/키워드: project finance

검색결과 210건 처리시간 0.024초

The Hedonic Method in Evaluating Apartment Price: A Case of Ho Chi Minh City, Vietnam

  • NGUYEN, Ha Minh;PHAN, Hung Quoc;TRAN, Tri Van;TRAN, Thang Kiem Viet
    • The Journal of Asian Finance, Economics and Business
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    • 제7권6호
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    • pp.517-524
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    • 2020
  • The study examines factors affecting apartment prices in the real estate market of Ho Chi Minh City, Vietnam. The study uses primary data based on surveys of customers who have traded successfully, and collects transaction data from real estate trading companies that are the top investors in Ho Chi Minh City real estate market. The collected data include 384 observations in a total of 24 districts, detailing that each district surveyed on a minimum of four projects, each project carried out a survey on a minimum of four apartments. The survey collected 339 valid questionnaires for analysis and model testing. This study employs multivariate regression with the data of 339 observations. The research results reveal that five significant factors affect positively the price of apartments in Ho Chi Minh City - apartment area, toilet and bedroom, apartment floor, reference price, and apartment interior. Besides, there are three significant factors affecting negatively the price of apartments - next price trend, distance to city center, and potential building. From the results, the research proposes solutions in the pricing of apartments in the real estate market in Ho Chi Minh City - better information system, a real estate transaction index, and stricter management of small brokerage activities.

Social Capital and Corporate Performance: Evidence from State Capital Enterprises in Vietnam

  • NGO, Chin;NGUYEN, Quyen Le Hoang Thuy To;NGUYEN, Phong Thanh
    • The Journal of Asian Finance, Economics and Business
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    • 제7권6호
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    • pp.409-416
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    • 2020
  • The research has been conducted to explore the combination of three intangible resources, including social capital, entrepreneurship, and resilience capability on the performance of State Capital Enterprises (SCEs) in Vietnam. Both qualitative and quantitative approaches are applied in the study. An in-depth interview of ten CEOs at SCEs in Vietnam was made to explore new indicators for the contextual latent variables in the research models. By employing the data from the authors' survey of 568 SCEs in Vietnam in 2019, using Cronbach's alpha, confirmatory factor analysis (CFA) and path analysis (SEM), the mechanism that social capital impacts on SCE performance has been analyzed. In addition to the direct role, social capital indirectly affects corporate performance through entrepreneurship and resilience capability. It was found that social capital has a larger impact on entrepreneurship than resilience capacity. However, the contribution of resilience capacity to the firm performance is much more than the entrepreneurship's in Vietnamese context. This study enriches the theory by proposing a measurement scale of the contextual latent variables as a result of in-depth interviews with experts using a qualitative analysis technique. In addition, the path analysis findings suggest practical implications for managers to effectively use their resources in SCEs.

A Security Reference Model for the Construction of Mobile Banking Services based on Smart Phones

  • Shin, Yong-Nyuo;Shin, Woo-Chang
    • International Journal of Fuzzy Logic and Intelligent Systems
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    • 제11권4호
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    • pp.229-237
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    • 2011
  • As smart phones have become widely adopted, they have brought about changes in individual lifestyles, as well as significant changes in the industry. As the mobile technology of smart phones has become associated with all areas of industry, it is not only accelerating innovation in other industries such as shopping, healthcare service, education, and finance, but is also creating new markets and business opportunities. The preparation of thorough security measures for smart phones is increasing in demand. While offering excellent mobility and convenience, smart phones can be exposed to a range of violation threats. In particular, it is necessary to make efforts to develop a security system that can preemptively cope with potential security threats in the banking service area, which requires a high level of reliability. This paper suggests a security reference model that is considered for the smart phone-based joint mobile banking development project being undertaken by the Bank of Korea in 2010. The purpose of this study is to make a security reference model for a reliable smart phone-based mobile financial service, by recognizing the specific security threats directed toward smart phones, and providing countermeasures to these security threats. The proposed mobile banking security reference model is useful in improving system security by systematically analyzing information security threats to the mobile financial service, and by presenting the guideline for the preparation of countermeasures.

BPM 대상 프로세스 선정 방법론 개발 및 적용에 관한 연구 (A Study on Process Selection and Implementation for Business Process Management)

  • 최진호;이진미
    • 경영정보학연구
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    • 제8권1호
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    • pp.25-41
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    • 2006
  • 본 연구는 BPM을 구현하는데 있어서 대상 프로세스를 선정하는 방법론에 관한 연구이다. LG CNS사의 BPM 구축방법론을 함께, 프로세스 선정 방법론인 enPAM을 제시하였다. 첫째, 대상 기업의 프로세스를 정의하는 방안들을 제시하였으며, 둘째, 대상 프로세스들에 대해 BPM 시스템을 구축하기 위한 프로세스 우선순위 평가지표로서, 크게 비즈니스 영향도, BPM 적용성, 실행가능성 세가지와 하부기준들을 제시하였다. 마지막으로, 한 이통통신회사를 대상으로 enPAM의 구체적인 적용과정을 보여줌으로써, 본 방법론의 유용성을 제시하였다.

재무정보와 베타예측모델에 관한 연구 (A Study on the Predicted Model of the Relationship Between Financial Information and Market Beta)

  • 신창섭
    • 정보학연구
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    • 제1권2호
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    • pp.25-37
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    • 1998
  • 경영전략수립에 있어서 자본비용 평가는 중요한 의미를 갖는다. 이는 자본비용은 기업가치 평가 및 새로운 Project 심사에 매우 중요한 위치를 차지하고 있기 때문이다. 상장기업의 경우 자본비용은 일반적으로 자본자산가 격결정모형(capital asset pricing model : CAPM)에서 주식시장을 이용한 베타($\beta$)를 구함으로서 쉽게 구할 수 있다. 그러나 비상장기업은 주가를 이용할 수 없다. 따라서 비상장기업의 경우 주가에 가장큰 영향을 미치는 회계정보가 주가를 대신하여 자본비용 계산시 유용한 베타를 구할 수 있는지에 대한 많은 연구가 계속하여 이루어지고 있다. 이러한 사실에 비추어 본 연구는 재무정보와 시장의 체계적 위험(또는 시장베타)과 어떤 관련성이 있는가를 분석하는데 초점을 두고 있으며 특히 순수접근기법(Uure-play technique)과 회계정보에 의한 기본적접근방법(fundamental approach)을 이용하여 베타가 어떻게 추정되는지를 분석했다. 그리고 캐나다 자본시장에서 재무정보와 주가의 상호관련성을 실증 분석한 Patterson의 베타예측모형을 추가적으로 검토했다. 한편 향후 이 논문은 Patterson의 베타예측모델을 가지고 우리 나라에 적용 재무정보와 체계적위험간의 관계를 실증분석하기 위한 선행연구라는 점을 밝히고 싶다.

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A Triple of Corporate Governance, Social Responsibility and Earnings Management

  • HUYNH, Quang Linh
    • The Journal of Asian Finance, Economics and Business
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    • 제7권3호
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    • pp.29-40
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    • 2020
  • The research aims to explore the links among corporate governance, corporate social responsibility, and earnings management, considering vital roles of each component in Vietnam. There were 500 questionnaires provided to the targeted enterprises, where there were 150 enterprises in Ho Chi Minh Stock Exchange, 150 enterprises in Hanoi Stock Exchange, and 200 enterprises in the unlisted public company market. Of the distributed questionnaires, only 289 replies offered needed information for analyses. The data derived from these firms was based on their annual or sustainability statements that were retrieved from the websites. This research used a six-year rolling window to calculate earnings management. To compute that variable, lagged year information was included, so the data from 2011 to 2017 was needed to collect. The empirical results show that corporate governance mechanism is a significant moderation in the positive link between good corporate social responsibility and earnings management. Furthermore, corporate social responsibility and earnings management also play mediating roles in the associations among corporate governance, corporate social responsibility, and earnings management. This project recommends that corporate governance mechanism is an essential driver of the managerial behaviors in social responsibility and ethical accounting practices, which are in turn mediators in the joint research model.

보안위험분석을 위한 평가기반 CBR모델 (The Evaluation-based CBR Model for Security Risk Analysis)

  • 방영환;이강수
    • 한국정보과학회논문지:시스템및이론
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    • 제34권7호
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    • pp.282-287
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    • 2007
  • 정보시스템을 이용하는 금융, 무역, 의료, 에너지, 교육 등 사회 각 분야에서 정보화가 급속하게 진전되고 있다. 정보시스템에 대한 보안관리는 위험분석평가가 선행 되어야하며, 보안위험분석은 요구되는 정보보호서비스의 취약점을 해결하고 위협으로부터 시스템을 안전하게 관리할 수 있는 최선의 방법이다. 본 논문에서는 최적의 평가계획을 수립한 수 있는 평가사례기반추론 기능을 모델링하였다. 평가 사례기반추론(case-based reasoning) 기능은 보안위험분석평가를 프로젝트단위로 관리하며, 기존의 평가사례 간유사도를 평가하고, 유사한 평가 사례를 바탕으로 최적의 보안위험분석평가 계획을 수립할 수 있다.

공동주택의 계획특성이 분양원가에 미치는 영향에 대한 분석 (A Study on the Influence of the Characteristics of Planning on the Cost of Apartment)

  • 김광호
    • 한국건설관리학회논문집
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    • 제7권1호
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    • pp.89-99
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    • 2006
  • 최근의 주택 개발사업은, 주택시장의 분위기가 사업의 중요 요인 중 하나였던 예전의 상황과 달리, 투자자금의 모집과 사업부지 물색 등의 어려움으로 타당성 분석의 정밀도가 점차 중요시 되고 있다. 주택 개발사업의 타당성 분석에 있어 토지의 이용 가치와 관련된 용적률, 상품수준에 관련된 분양비, 또한 금융비용에 영향을 미치는 공사기간은 중요한 요소이며, 본 연구에서는 이러한 용적률 분양비 공사기간을 개별 프로젝트의 고유특성인 계획특성으로 채택하였다. 따라서 본 연구는 타당성 분석의 체계적인 접근을 위하여 용적률, 분양비, 공사기간을 계획특성인자로 채택하여 타당성 분석 시 공동주택의 계획 특성이 분양원가에 미치는 영향을 회귀분석을 이용하여 분석하였다.

대용량 자료에서 핵심적인 소수의 변수들의 선별과 로지스틱 회귀 모형의 전개 (Screening Vital Few Variables and Development of Logistic Regression Model on a Large Data Set)

  • 임용빈;조재연;엄경아;이선아
    • 품질경영학회지
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    • 제34권2호
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    • pp.129-135
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    • 2006
  • In the advance of computer technology, it is possible to keep all the related informations for monitoring equipments in control and huge amount of real time manufacturing data in a data base. Thus, the statistical analysis of large data sets with hundreds of thousands observations and hundred of independent variables whose some of values are missing at many observations is needed even though it is a formidable computational task. A tree structured approach to classification is capable of screening important independent variables and their interactions. In a Six Sigma project handling large amount of manufacturing data, one of the goals is to screen vital few variables among trivial many variables. In this paper we have reviewed and summarized CART, C4.5 and CHAID algorithms and proposed a simple method of screening vital few variables by selecting common variables screened by all the three algorithms. Also how to develop a logistics regression model on a large data set is discussed and illustrated through a large finance data set collected by a credit bureau for th purpose of predicting the bankruptcy of the company.

Critical Factors Affecting Construction Price Index: An Integrated Fuzzy Logic and Analytical Hierarchy Process

  • NGUYEN, Phong Thanh;NGUYEN, Quyen Le Hoang Thuy To
    • The Journal of Asian Finance, Economics and Business
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    • 제7권8호
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    • pp.197-204
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    • 2020
  • Nowadays, many construction engineering and technology enterprises are evolving to find that prosperity is driven and inspired by an open economy with dynamic markets and fierce multifaceted competition. Besides brand and product uniqueness, the ability to quickly provide customers with quotes are matters of concern. Such a requirement for prompt cost estimation of construction investment projects with the use of a construction price index poses a significant challenge to contractors. This is because the nature of the construction industry is shaped by changes in domestic and foreign economic factors, socio-financial issues, and is under the influence of various micro and macro factors. This paper presents a fuzzy decision-making approach for calculating critical factors that affect the construction price index. A qualitative approach was implemented based on in-depth interviews of experts in the construction industry in Vietnam. A synthetic comparison matrix was calculated using Buckley approach. The CoA approach was applied to defuzzified the fuzzy weights of factors that affect the construction price index. The research results show that the top five critical factors affecting the construction price index in Vietnam are (1) consumer price index, (2) gross domestic product, (3) basic interest rate, (4) foreign exchange rate, and (5) total export and import.