• 제목/요약/키워드: real options

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ASP Outsourcing 위험의 효율적인 통제를 위한 실물옵션 적용 가능성에 대한 연구 (An Empirical Study on the Control Mechanism of ASP Outsourcing Risks using Real Option Approach)

  • 남승현;양희동
    • 한국산업정보학회:학술대회논문집
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    • 한국산업정보학회 2008년도 추계 공동 국제학술대회
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    • pp.365-384
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    • 2008
  • Many studies on ASP outsourcing area have focused on the Critical Success Factors(CSFs) of ASP outsourcing projects or on the service quality of ASP Service. But these studies have limitations to explain how to succeed in doing ASP outsourcing project. The objective of this research is to overcome this limitation by using the concept of "IT Risk" in Outsourcing. The effective control of the risks-caused during the IS outsourcing process-gives (ASP service using) users a powerful tool to minimize the risks and thus maximizes the possibility of ASP outsourcing project success. In order to perform this objective, this research set up the research model which is composed of three concepts. The three concepts are 1. Undesirable Outcomes(:UO) as IT outsourcing Risks, 2. The Source of Risks(:SOR) influencing the UO, and 3. the intention to get/execute Real Option Portfolio to control the risk level of SORs and UOs. This research has some important and interesting implications on the ASP outsourcing area. First, this research classifies the risk factors as three concepts and finds the interactions among them. Second, Using Real Option portfolio can control the risks effectively occurred during outsourcing projects. Third, Vendors(ASP service providers) can offer users IN TIME the options which can minimize the occurrence of risks.

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수도요금의 불확실성을 고려한 상수도 사업의 가치 평가 (An Evaluation of the Economic Value of Outsourcing of Water Supply Services Considering Uncertainty of Water Price)

  • 정인찬;김재희;김승권
    • 경영과학
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    • 제31권3호
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    • pp.95-111
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    • 2014
  • It is essential to carry out an economic analysis on public water supply projects so that policy makers and water enterprises are aware of the actual value of the project. However, many popular approaches based on discounted cash flow analysis do not capture the uncertainties inherent in cash flow. In order to analyze the economic values of the water supply project of local governments, we utilize real option model, which considers uncertainty in future water price behavior and captures the value of real life flexibility. The real option model is designed to incorporate the option to expand and abandon, and it is applied to a local government case. Furthermore, we assess the project by exploring Luehrman's option space to accommodate the more efficient decision making. The results show that substantial amount of potential value is included in the public water supply service, and the overall value is greater than the value obtained from the discounted cash flow model.

실물옵션을 활용한 화력발전회사의 CO2 감축대안의 경제성 평가: CCS와 RPS 이행의 비교 (Economic Evaluation of Alternatives for CO2 Reduction of Thermal Power Generation Companies using ROPM: Comparing CCS with RPS Implementation)

  • 이동수;정기호
    • 자원ㆍ환경경제연구
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    • 제20권1호
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    • pp.61-98
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    • 2011
  • 본 연구는 화력발전회사의 $CO_2$ 감축대안에 대한 경제성을 평가하였다. 평가에 고려되는 $CO_2$ 감축대안은 신재생에너지의무할당제하에서 신재생에너지발전 의무공급량을 이행하는 방안과 이산화탄소포집처리기술을 적용하여 $CO_2$ 배출이 없는 그린화력발전소를 건설하는 방안의 두 가지이다. 경제성 평가에는 현금흐름할인법과 실물옵션가격결정법이 활용되었다. 분석 결과 전력수급기본계획에 적용하는 할인율(7.5%)에서 두 평가 방법 모두에 대해 그린화력발전 대안이 경제적 우위를 갖는 것으로 분석되었다. 본 연구의 결과는 일차적으로 신재생에너지 발전소의 건설을 고심하는 화력발전회사의 중 장기 전략수립에 도움을 줄 것으로 예상된다. 부가적으로 $CO_2$ 감축을 위한 실효성 있는 정부정책의 수립에 있어서 기초자료로 활용될 수 있을 것으로 판단된다.

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이익공유를 고려한 유전자원 이용 사업 투자 의사결정 분석 (Analysis on the Investment in the Project using the Genetic Resources Considering the Benefit Sharing)

  • 홍원경;장희선;박호정
    • 자원ㆍ환경경제연구
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    • 제28권1호
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    • pp.95-120
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    • 2019
  • 나고야의정서의 발효로 유전자원을 이용하려는 기업들은 유전자원 이용 이익 공유방안을 제공국과 협상을 통해 결정해야 할뿐만 아니라 유전자원 이용 사업 자체에 대한 투자 의사를 결정해야 한다. 본 연구에서는 유전자원의 이용으로 인한 이익의 공유방안을 샤플리 밸류와 매출액 기준 일정 비율에 의한 방법을 통해 기업의 수익구조에 반영한 후 실물옵션기법을 이용해 유전자원 이용 프로젝트에 대한 경제성을 분석하였다. 그 결과 이익공유 비율과 할인율, 그리고 유전자원의 상품화 시기가 상기 두 분석 방법에 따른 투자임계가격의 순위에 영향을 미치는 것으로 나타났다. 협상을 통해 이익공유 방안에 대해 상호합의된 조건을 도출해야 하는 기업에게는 이와 같은 다양한 방법에 의한 접근과 분석이 협상 시 유용한 참고자료가 될 것이다.

기후 변화 대응을 위한 상수도 시설 적응형 관리의 필요성: 2008-2009 광동댐 취수 제한 사례 연구 (Adaptive Management of Water Supply Systems to Deal with Climate Changes: A Gwangdong Dam Case Study)

  • 이상은;최동진;박희경
    • 상하수도학회지
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    • 제23권5호
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    • pp.583-598
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    • 2009
  • From the engineering standpoint, this study puts a special emphasis on application of adaptive management. To do this, we analyze the recent issue about water scarcity of the Gwangdong dam. Using the system dynamics model, we defined the system including water balance in the dam, dam manager's operation rules, regional water supply and local water distribution, and customer damage. It was expected that the model is useful to explain the real case, and also water scarcity of Gwangdong led to total damage of about 2.56 billion won, mainly to customers in the Taebaeck city. Two adaptive management options (i.e., optimal allocation of limited water resources, and early control of dam storage) were applied to the model in order to examine whether adaptive management is effective to mitigate the damage, it is concluded that the case study could largely reduce or entirely avoid the damage with adaptive engineering options.

A Design-Decision Support Framework for Evaluation of Design Options in Passenger Ship Engine Room

  • 김수웅
    • 한국해양공학회:학술대회논문집
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    • 한국해양공학회 2006년 창립20주년기념 정기학술대회 및 국제워크샵
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    • pp.277-280
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    • 2006
  • Most real world design evaluation and risk-based decision support combine quantitative and qualitative (linguistic) variables. Decision-making based on conventional mathematics that combines qualitative and quantitative concepts always exhibit difficulty in modelling actual problems. The successful selection process for choosing a design/procurement proposal is based on a high degree of technical integrity, safety levels and low costs in construction, corrective measures, maintenance, operation, inspection and preventive measures. However, the objectives of maximising the degree of technical performance, maximising the safety levels and minimising the costs incurred are usually in conflict, and the evaluation of the technical performance, safety and costs is always associated with uncertainties, especially for a novel system at the initial concept design stage. In this paper, a design-decision support framework using a composite structure methodology grounded in approximate reasoning approach and evidential reasoning method is suggested for design evaluation of machinery space of a ship engine room at the initial stages. It is a Multiple Attribute Decision-Making (MADM) or Multiple Criteria Decision Making (MCDM) framework, which provides a juxtaposition of cost, safety and technical performance of a system during evaluation to assist decision makers in selecting the winning design/procurement proposal that best satisfies the requirement in hand. An illustrative example is used to demonstrate the application of the proposed framework.

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기초자산의 추세 여부에 따른 헤지변동성의 결정에 관한 연구 (Study on a Hedging Volatility Depending on Path Type of Underlying Asset Prices)

  • 구정본;송준모
    • 응용통계연구
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    • 제26권1호
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    • pp.187-200
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    • 2013
  • 본 논문에서는 기하브라운운동(geometric Brownian motion)을 기반으로 표준옵션의 델타헤지를 수행하는 경우, 헤지변동성의 선택이 헤지손익에 미치는 영향을 재탐색하였다. 이를 위하여, 헤지변동성과 헤지손익과의 관계를 고찰하였으며, 모의실험과 실증분석을 통하여 기초자산의 추세에 따라 헤지변동성을 달리 선택하는 것이 최종 헤지손익에 유리할 수 있음을 살펴보았다. 구체적으로, 등가격 표준옵션의 헤지매매 시 향후 기초자산이 횡보할 것으로 예상될 때에는 헤지변동성을 상대적으로 크게, 추세가 형성될 것으로 예상될 때에는 비교적 작게 사용하는 것이 손익에 유리하였다.

Personal Remittances: An Empirical Study in Oman

  • UDDIN, Mohammed Ahmar;ALAM, Md. Shabbir
    • The Journal of Asian Finance, Economics and Business
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    • 제8권3호
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    • pp.917-929
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    • 2021
  • This study highlights the importance of remittance, the factors which affect the percentage of income remitted, and the investment options available to reduce remittance. For the year 2019, the remittances from Oman totaled $9.1 billion. Oman was among the top remitters with remittance to gross domestic product (GDP) ratio of 11.9%. A survey was conducted on 300 resident expats in Oman. The descriptive analysis shows that the maximum remittance percentage is between 21%-40% of income. The multinomial logistic regression results show that outward remittance depends on gender, age, occupation, number of dependent in Oman, and the number of dependent in the home country. Regarding investment, the most preferred investment option is business, followed by real estate and financial services. Age and education are found to affect investment options. This paper tries to fill the literature gap, especially for the case of Oman, by exploring what determines the level of remittance and the preferred choices for retaining funds. This study adds to the existing literature, as no previous study is available regarding how personal factors can influence the level of remittance and investment in a small oil-exporting developing country like Oman. The study will be helpful to policymakers and academicians in devising policies to retain and invest the outwards remittances in Oman.

Evaluating the Efficacy of Pharmacological Therapy for Prader-Willi Syndrome: A Systematic Review and Meta-analysis

  • Alim Yoo;Sohyeon Park;Heeyoung Lee
    • 한국임상약학회지
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    • 제32권4호
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    • pp.336-351
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    • 2022
  • Background: Prader-Willi Syndrome (PWS) is a rare genetic disorder. To improve the health deterioration of PWS, investigating optimal treatment options for PWS is required. Thus, we aimed to evaluate the efficacy of pharmacotherapies compared with supportive care or placebos in patients with PWS. Methods: PubMed and EMBASE databases were used to search for randomized controlled trials (RCTs) evaluating the efficacy of pharmacotherapy in PWS patients. Only RCTs that evaluating the efficacy of pharmacotherapy in PWS patients were retrieved. Results: A total of 26 studies were included to evaluate body composition, hormones, glucose levels and hyperphagia behavioral status. Pharmacological treatment group showed a significant decrease of body fat (mean difference (MD): -6.32, 95% confidence interval (CI): -10.58 to -2.06, p=0.004), a significant increase of lean body mass (LBM) (MD: 1.86, 95% CI: 1.43 to 2.30, p<0.00001) and insulin-like growth factor 1 (IGF-1) levels (MD: 241.62, 95% CI: 68.59 to 414.64, p=0.006) compared with the control group. Nevertheless, based on other outcomes evaluated by the current systematic review, pharmacological options showed different efficacy in treating PWS. Conclusion: Pharmacological therapies were effective to decrease significantly in body fat and increase significantly on LBM and IGF-1 levels in patients with PWS. However, still, individualized therapies should be considered in real-world practice in PWS treatment.

카메라 Back Cover의 형상인식 및 납땜 검사용 Vision 기술 개발 (Development of Vision Technology for the Test of Soldering and Pattern Recognition of Camera Back Cover)

  • 장영희
    • 한국공작기계학회:학술대회논문집
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    • 한국공작기계학회 1999년도 추계학술대회 논문집 - 한국공작기계학회
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    • pp.119-124
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    • 1999
  • This paper presents new approach to technology pattern recognition of camera back cover and test of soldering. In real-time implementing of pattern recognition camera back cover and test of soldering, the MVB-03 vision board has been used. Image can be captured from standard CCD monochrome camera in resolutions up to 640$\times$480 pixels. Various options re available for color cameras, a synchronous camera reset, and linescan cameras. Image processing os performed using Texas Instruments TMS320C31 digital signal processors. Image display is via a standard composite video monitor and supports non-destructive color overlay. System processing is possible using c30 machine code. Application software can be written in Borland C++ or Visual C++

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