There are two methods for evaluating two or more mutually exclusive projects. One is a total investment approach and the other is an incremental investment approach. The former can rank projects by the criterion of the net present value, but the latter can’t do it. An incremental investment approach is only possible when all pairwise alternatives are compared. Thus an incremental investment approach is superior in ranking them over an incremental investment approach. To do so, a principle of comparison must be established. Comparisons of profitability are reasonable when operating the same amount of investment over the same period of time. One principle is that all projects are invested in the largest of the projects. Another principle is that all projects are invested during the longest project life of the projects. In this paper, even if the principle is followed, it will be shown that the external rate of return fails to rank them. However, the productive rate of return criterion would prove to be able to rank them like the net present value standard, provided that the principle of comparison is kept. In addition, rate of returns can be assessed so that all mutually exclusive projects can be compared at once, such as on the criterion of the net present value. That is, it can be also compared with many other returns, such as the profit rates on financial investments or real investments.

최근 벤처캐피털의 운영 펀드 규모의 지속적 증가에 따라 투자 심사역의 업무 도 대폭 증가하고 있다. 그러나 투자 판단은 심사역의 역량에 따라 많은 차이를 보이고 있다. 이에 본 연구는 ‘벤처 투자 실무 평가 지표’에 대한 후속 연구로서 투자 심사 평가 지표의 유 효성을 검증하고자 하였다. 연구는 먼저 평가 지표를 표준화한 후, 100개 벤처 기업을 대상으 로 t-검증을 실시한 결과, 투자 심사 평가 지표들은 유의미하였고 정성 평가 지표의 유효성 역시 약 85%의 적중률을 보였다. 따라서 본 연구결과가 향후 벤처기업 투자 의사 결정력 제 고에 나름 기여할 수 있을 것으로 사료된다.

As technology develops, more advanced technologies involving GPS, GIS, RFID and sensor networks have been adopted in agriculture sector for u-Farm. However, technology adoptions have been evaluated as ineffective. Farmers and agri-business have low level of understanding on technology so it is not efficiently utilized. This study introduces a case of RFID/sensor networks of mushroom farm as a u-Farm case study, focusing on developing a framework for analysis of u-Farm investment returns. RFID and sensor networks improve real-time production control, processing management, and traceability. Integration of RFID and sensor networks leads to innovation into the mushroom farm, reducing labor cost, increasing productivity, and improving quality of the mushroom. The ROI which is used as an indicator of performance indicator is 413%.

This provided a basic frame to analyze the investment effect on the road, railroad, airport and port as a national dimension but it still has a limitation to analyze the specific economic and financial validities to consider the characteristics of the traffic facilities within the area. Conclusively, the aims of this study provide the reasonable evaluation guidelines effectively to the local automatic groups, especially Chungju in the frame of the present evaluation guidelines. We provide the adaptive alternatives on the present systems which are difficult to adapt to the present investment evaluation guidelines; the estimation method of the social economic index and the estimation method of the traffic demand. Additionally, we discuss the research method of the passage actual state for a reasonable estimation of the traffic demand. The result of this study will be activated for the validity check and construction plan of the reasonable traffic investment plan of Chungju city.

Until recently, thermal power plants have used high-rank coals to generate electricity. The switched to low-rank coals, primarily because of the rising coal price and the advancement of combustion technology. Therefore the thermal power plants need more fuels aspect of quantity and they are going to build extra infrastructure to deal with the increased fuel demand in their specialized ports. This paper introduces the process of the economic analysis as a case study for Hadong T/P(Thermal Power) Port. This study also evaluates investment for mew projects in ports. We analyze the costs and benefits of the port investment project using various information. And then we conduct the economic analysis using NPV(net present value), B/C ratio and IRR grounded in a financial theory. Out result of the economic feasibility shows that the new project of constructing a third berth in Hadong T/P Port has positive economic value. Additionally, this study conducts the sensitivity analysis of the major variables like cost, benefit and discount rate.