• The Journal of the Korea institute of electronic communication sciences
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• v.8 no.5
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• pp.679-686
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• 2013

Private investment business, government, the introduction of private capital and technology, and private sewage that due to the mutual benefit monetize using a stable government's public goods is still active. Internationally in the 1980s, the 1990s, the case of Korea, the social infrastructure, such as roads, ports, airports, business increased. This study is part of the overall consideration of the Act on Private Participation of private investment projects and improve on the points at issue by deriving the direction you want to achieve the purposes of the Act on Private Participation "that contribute to the national economy and promote private investment.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.4
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• pp.57-66
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• 2016

Foreign Direct Investment (FDI) plays a vital role in economic growth of the countries. The present study analyses the impact of the FDI on economic growth of South Asian Association of Regional Cooperation countries by using the pooled data for the period 1990-2014. Neo-classical production function has been used for analysis and getting stock-to-flow estimation, Taylor series approximation has applied. Fixed Effects Model has been used to investigate the impact of FDI, domestic capital, labour and government expenditures on economic growth. It is the evident from the results that both domestic investment and FDI have been a positive effect on economic growth. The study finds that the contribution of domestic private investment is more trustworthy than the contribution of FDI. Consequently, FDI loses its attraction as an engine of growth if the adverse balance of payment consequence of the resulting profit repatriating is also taken into account. The labour has positive and significant association with GDP. The effect of government expenditure is negligible on economic growth. The findings suggest that growth strategy cannot yield the long term benefits if it neglects investments on human capital.

• Knowledge Management Research
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• v.20 no.1
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• pp.27-43
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• 2019

This paper examines spillover effects of R&D investment in the ICT industry to other industries by analyzing panel data composed of 6 manufacturing industries for the period of 1983~2011. Major findings are as follows; (1) The increase of R&D investment in ICT industry has a significantly positive relationship with the increase in the value-added of the remaining 5 industries with 3~10 year lags, depending on the source of R&D funds and R&D stage. (2) More specifically, public R&D shows the spillover effects during 3~7-year lag periods, whereas private R&D started to exert spillover effects from 9-year lag. The result implies that the public R&D appropriately targets projects with more spillover effects. (3) Basic research, applied research, and development showed the spillover effects for the period of 9~10, 7~10, and 10-year lag, respectively. (4) The R&D investment in 5 other industries such as machinery, chemicals, and materials does not have positive spillover effects to the remaining industries. Few studies have been done to analyze the R&D spillover effects to other industries, with certain limitations. This study contributes to the existing literature by analyzing the spillover effects of the different R&D funds and R&D stages, and by considering various time-lag effects.

• Asia pacific journal of information systems
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• v.32 no.3
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• pp.564-579
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• 2022

The use of on-premises technology in the business environment to create a competitive advantage is ushering in a new era known as digital transformation. As the foundation of digital transformation of enterprises, information technology still has a paradoxical effect on enterprises. This paper documents the effect of investments in IT on a firm's long-term profitability performance measures as return on assets (ROA), as well as tests whether the earlier entrant and the later entrant are different in IT investment performance. Using a sample of China's public firms IT investment data between 2016 and 2019, the result indicates that IT investment in firms have a positive effect on firm performance in full sample, but not in the financial industry firms. When it comes to the different investment time, the result shows no significant difference between the earlier entrant firm and the later entrant firm in the full sample, but not in the case of software industry sample. This should help alleviate the concerns that some have expressed about the viability of digital transformation given the highly publicized IT investment and implementation problems at some firms.

• 한국태양에너지학회:학술대회논문집
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• 2011.11a
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• pp.220-225
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• 2011

Based on the supply status statistics of new renewable energy according to public obligation system, current status of overall application centered on solar heat, solar ray, and geothermal heat as energy sources that can be applied to buildings may be analyzed as follows. (1) After the public obligation system, the investment costs on the total construction costs by years were between 5.21% and 7.12%: they were 7.12% in 2004, where the system was initially implemented; and they were gradually declined from 2005 to 2011, 5.76% in average. The ratio of equipment investment per energy sources in the total construction costs was 5.9%, which was slightly more than the obliged ratio. The order of investment costs per energy source was solar ray, geothermal heat, and solar heat. (2) Among the 1,433 sites in the plan of new renewable energy installation based on the public obligation system, "for cultural & social use" was most in target institution, and facilities for education & research was most in use classification, followed by public working, culture & rally, and sports. The number of facilities applied according to the case for planning installation per use classification of the target institution was between 1.1 and 1.5, or 1.4 in average of energy source. Conclusively, the authors of this study investigated overall current status of new renewable energy supply from the analysis of statistic data, and it may be needed of further supplementation of various examinations by visiting investigation and interviews with practitioners based on classification of use of target institutions.

• International Journal of Quality Innovation
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• v.9 no.2
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• pp.57-77
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• 2008

The $21^{st}$ century is a new century of environmental protection. Environmental protection is one of the most important subject matters yet to come. Moreover, as the public pays more attention to environmental problems, enterprises should increase their investment in environmental management. Therefore, determining the investment level for environmental management and allocating the investment to associated environmental management activities has become a major task. The principal and agent theory and sales response functions are used for analysis in this research. The allocation of capital investment in environmental management is found to have significant impact on the aggregate sales response, aggregate profit and investment level. Therefore, in preparing the budget for environmental management, enterprises should focus on investment allocation decisions, determine the investment level and allocation method using integrated means, and apply submarket data in the allocation decision-making process. In other words, in setting the investment level, executive management should take managers' willingness into consideration. In allocating capital investment, managers should identify the optimal allocation method based on submarket characteristics.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.295-302
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• 2020

The paper aims to investigate the impact of foreign direct investment (FDI) on private investment with a sample having 49 developing countries in Asia (17 countries) and Africa (32 countries) during the period of 1990-2017. Unlike previous studies, we split the data into three groups for further analysis, including the Asian, African and the full-panel samples. The results confirm a crowding-in effect which shows that foreign direct investment promotes private investment on all three research samples. Besides, the lagged private investment has a positive and significant effect on itself in the next period which reflects the inertia in the trend of private investment in recipient countries. In the full-panel sample, there are some macro factors such as GDP per capita, trade openness, and electricity that also have a positive and statistically significant impact on private investment. Besides, when more deeply estimate with smaller samples, we find that trade openness and labour force have a positive and significant in Africa, on the other hand, not in Asia. However, the domestic credit variable has a negative and significant effect on private investment only in Asian developing countries. Furthermore, there is only a positive and significant impact of the electricity variable on private investment in Asia.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.73-83
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• 2018

The purpose of this paper is to examine the relationship between regional financial development and corporate investment efficiency as well as the relationship between firm-level characteristics and corporate investment efficiency. Using a large sample of A-listed companies in China from CSMAR database between 2003 and 2016, this paper explores corporate investment efficiency and its influencing factors in emerging market on the basis of heterogeneous stochastic frontier model. The results show that: (1) the average investment efficiency of Chinese listed companies is 74.5%, and the investment efficiency of large enterprises, state-owned enterprises and enterprises with relatively high financial development level is significantly higher; (2) compared with average corporate investment efficiency in the year 2003, the investment efficiency of different types of enterprises in 2016 is significantly higher, and the gap is gradually widening; (3) enterprise heterogeneity namely firm size, nature of property right, and institutional environment reflected by the level of regional financial development indirectly affects corporate investment efficiency by influencing the financing constraints and uncertainty. The findings suggest that to improve corporate investment efficiency in emerging market, financial market should be accelerated, regional balance should be restored and the differences among regions, industries and differences between public and private sectors should be eliminated.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.451-459
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• 2020

This study aims to examine the relationship of the four factors that increase the protection of minority shareholder investment. The factors are non-controlling shareholders, corporate governance, free cash flow, and shareholder wealth. The data for this study is obtained from the 2017 annual reports of 136 Thai public companies listed in the Market of Alternative Investment of Thailand (MAI). The analysis uses a multiple regression model to determine which factors encourage and which inhibit the protection of minority shareholder investment. The study tests four hypotheses. The results rejected H1 because non-controlling shareholders have negatively correlated with minority shareholder investment protection (beta -0.155 and p-value 0.050). The results accepted H2, H3 and H4 as follows. H2: corporate governance has positively correlated with minority shareholder investment protection (beta 0.17 and p-value 0.031). H3: free cash flow has positively correlated with minority shareholder investment protection (beta 0.214 and p-value 0.007). H4: shareholder wealth has positively correlated with minority shareholder investment protection (beta 0.318 and p-value 0.000). The major findings suggest strong minority shareholder investment protection was enhanced by increasing corporate governance, free cash flow and shareholder wealth. The protection of minority shareholder investment needs to reduce non-controlling shareholding pattern.

• Journal of the Korean Regional Science Association
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• v.10 no.1
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• pp.105-125
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• 1994

This paper reviews the achievements of the infrastructure investment policies since around 1990 and identifies policy area in which further efforts should be made. Traditional definition of social overhead capital has implied that the government should be the main, if not sole, supplier of the service. However, many sectors or sub-sectors of infrastructure investment and service allow room for private sector involvement. Expanding the role of the private sector will supplement the resources of the public sector, but more importantly, introduce competition in infrastructure provision. Competition will enhance the efficiency even a particular service remains in the hand public supplier. Private sector involvement, however, raises special problems in Koran context. They are the concentration of the Capital region and regional imbalance; excessive economic powers of large business conglomerator, so-called land problems. We examine each problems in detail and suggests possible solutions.