실물옵션을 이용한 구조용 집성재 생산 방식에서의 투자의사 결정 연구

• 영문명: An analysis on the investment decision in the production of glued laminated wood for building framework using real option approach
• 발행기관: 한국농업경제학회
• 저자명: 이헌동(Heon-Dong Lee) 안병일(Byeong-il Ahn) 심국보(Kug-Bo Shim) 최용석(Yong-Seok Choi) 김건호(Keon-Ho Kim)
• 간행물 정보: 『농업경제연구』57권 3호, 79~104쪽, 전체 26쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2016.09.30

영문 초록

Using real option approach, this study analyzes the economical efficiency for introducing a high-frequency heating machinery in the production of glued laminated wood for building framework. The critical points for an investment are derived by considering the uncertainty of selling price and various situations of productivity increase due to the installation of new machinery. Analytical results show that the selling price of glued laminated wood have to be at least 5,880won/ton for 5% increase in the productivity, 1,960won/ton for 15% increase in the pro-ductivity, and 1,176won/ton for 25% increase in the productivity due to the installation of new machinery. These analytical results suggest that the companies producing glued laminated wood have to be cautious when they introduce the new technology of high-frequency heating, since there is high uncertainty in the price and irreversibility for the investment. The risk of the price and productivity for glued laminated wood suggests that government’s support would facilitate the adoption of the technology of high-frequency heating.

목차

Ⅰ. 서론

Ⅱ. 구조용 집성재의 특징 및 산업현황

Ⅲ. 구조용 집성재 생산방식별 제조공정 및 원가 분석

Ⅳ. 실물옵션을 이용한 고주파 가열방식 투자의 경제성 분석

Ⅴ. 결론 및 시사점

키워드

real option investment uncertainty selling price