scholarly journals Price Elasticity of Heat Demand in South Korean Manufacturing Sector: An Empirical Investigation

2019 ◽  
Vol 11 (21) ◽  
pp. 6144
Author(s):  
Hyo-Jin Kim ◽  
Jae-Sung Baek ◽  
Seung-Hoon Yoo
Keyword(s):  
South Korea ◽  
Price Elasticity ◽  
Demand Function ◽  
Manufacturing Sector ◽  
Estimation Method ◽  
Economic Benefits ◽  
Manufacturing Firms ◽  
Hot Water ◽  
Heat Consumption ◽  
Heat Demand

Heat is a crucial input supplied in the form of steam or hot water to industrial production of South Korea. Estimating the demand function for heat in the manufacturing sector is all the more important a task in terms of policy because heat consumption in the manufacturing sector is increasing because using heat directly as a fuel can reduce the air pollutants emissions and save energy when compared with using electricity, which is secondary energy. Thus, this article tries to estimate the demand function for industrial heat in the manufacturing sector of South Korea using cross-sectional data for analyzing the influence of manufacturing firms’ characteristics. To this end, 257 observations collected from a nationwide survey of manufacturing firms in 2017 are used and analyzed. As a robust approach, the least absolute deviations estimation method is applied to obtain the demand function. The results show that the price elasticity and sales amount elasticity of the industrial heat demand are estimated to be −0.8476 and 1.0144, respectively, which are statistically significant at the 1% level. Furthermore, the economic benefits of industrial heat consumption are computed to be 1.59 times as great as the price of heat. The results of this study can be utilized in policy planning, making, and evaluation.

scholarly journals Demand Function for Industrial Electricity: Evidence from South Korean Manufacturing Sector

2019 ◽  
Vol 11 (18) ◽  
pp. 5112
Author(s):  
Kim ◽  
Kim ◽  
Yoo
Keyword(s):  
South Korea ◽  
Demand Function ◽  
Manufacturing Sector ◽  
Estimation Method ◽  
Electricity Consumption ◽  
Nationwide Survey ◽  
Economic Benefits ◽  
Manufacturing Firms ◽  
Cross Sectional ◽  
Least Absolute Deviations

Electricity is a crucial input to the industrial production of South Korea. Estimating the demand function for electricity in the manufacturing sector is an important task because electricity consumption in the manufacturing sector accounts for 56.3% of total electricity consumption in South Korea. Thus, this article tries to estimate the demand function for industrial electricity in the manufacturing sector of South Korea using cross-sectional data for analyzing the influence of manufacturing firms’ characteristics. To this end, 946 observations collected from a nationwide survey of manufacturing firms in 2018 are used and analyzed. As a robust approach, the least absolute deviations estimation method is applied to obtaining the demand function. The results show that the price elasticity and the sales amount elasticity of the industrial electricity demand are estimated to be −0.9206 and 0.2568, respectively, which are statistically significant at the 1% level. Furthermore, the economic benefits of industrial electricity consumption are computed to be 1.46 times as great as the price of electricity. The results of this study can be utilized in policy planning, making, and evaluation.

scholarly journals Valuing Improved Power Supply Reliability for Manufacturing Firms in South Korea: Results from a Choice Experiment Survey

2018 ◽  
Vol 10 (12) ◽  
pp. 4516
Author(s):  
Doo-Chun Kim ◽  
Hyo-Jin Kim ◽  
Seung-Hoon Yoo
Keyword(s):  
South Korea ◽  
Power Supply ◽  
Choice Experiment ◽  
Manufacturing Sector ◽  
Manufacturing Firms ◽  
Economic Damage ◽  
Electricity Supply ◽  
Industrial Sectors ◽  
Electricity Bill ◽  
Supply Reliability

An outage of electricity may cause considerable economic damage to industrial sectors. Thus, South Korea electricity authorities demand information about the value of improved power supply reliability for the manufacturing sector to implement them in planning electricity supply. This article aims to measure the value using a specific case of South Korean manufacturing firms. The choice experiment (CE) approach is adopted for this purpose. A nationwide CE survey of 1148 manufacturing firms was undertaken. The firms revealed statistically significant willingness to pay for a decrease in the duration of interruption, avoiding interruption during daytime (9 a.m. to 6 p.m.) rather than off-daytime (6 p.m. to 9 a.m.), and preventing interruption during weekdays rather than weekend. For example, they accepted a 0.02% increase in the electricity bill for reducing one minute of interruption during electricity outage, a 2.98% increase in the electricity bill to avoid interruption during the daytime rather than off-daytime, and a 1.60% increase in electricity bill for preventing interruption during weekdays rather than weekends. However, they put no importance on the season of interruption. These results can be useful for policy-making and decision-making regarding improving electricity supply reliability.

Analysis of the Impact of Thermal Rehabilitation on the Heat Demand. Case Study

2021 ◽  
Vol 16 ◽  
pp. 170-176
Author(s):  
Stan Ivan Felicia Elena ◽  
Duinea Adelaida Mihaela
Keyword(s):  
Thermal Insulation ◽  
Thermal Protection ◽  
Mineral Wool ◽  
Expanded Polystyrene ◽  
Hot Water ◽  
Heat Consumption ◽  
Thermal Requirements ◽  
Heat Demand ◽  
The Impact

The article presents a case study on the impact of thermal rehabilitation of buildings heat demand. In order to reduce specific heat consumption and, in general, heat consumption for heating and hot water preparation, measures are needed to rehabilitate and modernize the thermal protection of buildings and heating and hot water installations. The present study aims to determine the influence of thermal rehabilitation of buildings (insulation of exterior walls - in this case) making for this purpose a comparison of the values of thermal requirements before and after the thermal rehabilitation process for a building. Regarding the thermal insulation used in the case study, expanded polystyrene with a thickness of 10 cm was used for the exterior walls and mineral wool for ceiling. The main purpose of the work is to highlight the importance of thermal insulation of buildings mainly in terms of reducing energy costs and maintaining thermal comfort in homes

scholarly journals Stakeholders approach on corporate governance and performance of Vietnamese manufacturing firms

2017 ◽  
Vol 6 (2) ◽  
pp. 61-73
Author(s):  
Thi Thanh Binh Dao ◽  
Thi Kim Anh Tran
Keyword(s):  
Corporate Governance ◽  
Production Function ◽  
Functional Form ◽  
Manufacturing Sector ◽  
Manufacturing Firms ◽  
External Factors ◽  
Executive Board ◽  
Internal Factors ◽  
And Performance ◽  
The Relationship

Corporate governance is one of the most vital issues in this compound environment at present, which is indicated by the fact that the success or failure of firms strongly depends on performance of the control that board of directors and executive board, take on corporations’ activities. This issue has attracted a variety of researches worldwide, and become a popular buzz lately, however there is still limited researches on this topic in Vietnam. In this paper, we focus on manufacturing sector, one of the most important industries in Vietnam economy, which account for 41.2% of total GDP in 2012. By using stakeholder theory and Kitamura’s paper as a corner stone, a model using OLS regression and log functional form for production function, showing the relationship between some external factors and internal factors including corporate governance is built. From the result of the research, it has been found out that internal factors (corporate governance) significantly affect the firm’s performance, whereas external factors (market share) do not really show any influence. In term of production function, this manufacturing sector still benefits from an increase of capital but not that of labor.

scholarly journals Are the determinants of markup size industry-specific? The case of Slovenian manufacturing firms

2011 ◽  
Vol 58 (2) ◽  
pp. 229-244 ◽  
Author(s):  
Nina Ponikvar ◽  
Maks Tajnikar
Keyword(s):  
Manufacturing Sector ◽  
Manufacturing Firms ◽  
Manufacturing Industries ◽  
Dynamic Panel ◽  
Pricing Policy ◽  
Large Variability ◽  
Oligopoly Theory ◽  
Determination Process ◽  
Precise Role

The aim of this paper is to identify factors that affect the pricing policy in Slovenian manufacturing firms in terms of the markup size and, most of all, to explicitly account for the possibility of differences in pricing procedures among manufacturing industries. Accordingly, the analysis of the dynamic panel is carried out on an industry-by-industry basis, allowing the coefficients on the markup determinants to vary across industries. We find that the oligopoly theory of markup determination for the most part holds for the manufacturing sector as a whole, although large variability in markup determinants exists across industries within the Slovenian manufacturing. Our main conclusion is that each industry should be investigated separately in detail in order to assess the precise role of markup factors in the markup-determination process.

scholarly journals Analysis of procedures for heating, ventilation and air conditioning for transfer to low-temperature heat supply

2019 ◽  
pp. 8-8
Author(s):  
Stanislav Chicherin
Keyword(s):  
Water Supply ◽  
Heat Supply ◽  
Heating System ◽  
Heat Energy ◽  
Hot Water ◽  
Heat Consumption ◽  
High Quality ◽  
Hot Water Supply ◽  
Supply Systems ◽  
Selection Of

Introduction. Renovation of housing stock supposes construction of new buildings, where the main utilities consuming heat energy will be heating and hot water supply (HWS) systems. Under such conditions the task of heat consumption reduction by transfer to low-temperature and use of the associated procedures is relevant. Materials and Methods. Research was performed on the basis of residential and administration buildings designed within the whole Russia, the facilities were selected based on the year of putting into operation and their purpose. The source of data concerning buildings became documents included into the scope of the design and detailed documentation: plans, drawings and explanatory notes. As meeting the demands of hot water supply makes the main contribution to daily nonuniformities of heat energy consumption, the attention was paid to equipment of hot water supply systems. For calculations, the commercial product of Microsoft Office Excel 2010 was used. Results. During selection of roof boiler house as a source of heat supply increase in consumption of equivalent fuel in relation to the variant of connection to heat power plant operating on solid fuel by 187,314 tons of fuel oil equivalent is possible. General refusal from power-and-heat generation complicates operation of large district heat supply systems. The design parameters of coolant in building heating system differ from project to project: from 95/70 °С, used everywhere till the beginning of the XXI century, up to 90/65 °С corresponding to existing practice of designing or 80/60 °С as at the facility in Sevastopol. Reduction of design temperatures by 5 % is insufficient to decrease general heat consumption of the building. Reduction of heat consumption is explained by selection of advanced materials for pipeline heat insulation. Use of automation diagrams for heat points on the basis of regulator ECL Comfort 310 contributes to improvement of hydraulic control for heating systems, however, concealed automation results in violation of high-quality mode for heat network control and decrease of coolant parameters on adjacent (often non-automated) consumers. Conclusions. Supplement of central high-quality control by local constant temperature/variable flow control at individual heat unit and installation of temperature controllers on heating radiators with mechanical thermostatic head have potential for reduction of the heat energy volume used ineffectively. Increase in level of controllability for heating system together with cheaper and responsive automation systems are basic conditions for increase in quality of heat supply in future.

scholarly journals IMPACT OF DIVIDEND PAYOUT ON FIRM’S PERFORMANCE UNDER LOW GROWTH OPPORTUNITIES

2021 ◽  
Vol 9 (3) ◽  
pp. 1156-1165
Author(s):  
Taymoor Ali ◽  
Muhammad Kashif Khurshid ◽  
Adnan Ali Chaudhary
Keyword(s):  
Stock Exchange ◽  
Manufacturing Sector ◽  
Secondary Data ◽  
Financial Statements ◽  
Manufacturing Firms ◽  
Growth Opportunities ◽  
Dividend Payout ◽  
Relationship Of ◽  
The Relationship

Purpose of the study: The objective of the study was to investigate the relationship of the dividend payout on a firm's performance under low growth opportunities from the manufacturing sector of Pakistan. Methodology: A sample of 251 firms out of 378 manufacturing firms listed at the Pakistan Stock Exchange (PSX), have been carefully chosen for the era of ten years from 2006 to 2015. The secondary data was obtained from the firm’s web financials and analysis of financial statements, published by the statistics department of the State Bank of Pakistan. For the persistence of investigation panel data (fixed effect) analyses were employed in this study. Main Findings: The fallouts of the analysis revealed that the dividend payout ratio has an insignificant relationship with the firm's performance in the low growth perspectives of the study. Applications of this study: The findings of the study are helpful for the financial managers of the firms facing low growth opportunities. Furthermore, the investors in capital markets can use the findings of this while investing. The originality of this study: The study focussed on the role of low growth opportunities while studying the nexus of dividend pay-out and the firm’s financial performance which inherits the novelty and originality of the study.

scholarly journals WHETHER FDI OR EXPORTS ENHANCE INNOVATION: EVIDENCE FROM INDIAN MANUFACTURING FIRMS, 2001-2012

2017 ◽  
Vol 26 (3) ◽  
pp. 19-32
Author(s):  
Krishan SINGH ◽  
Dr. Sandeep Kaur BHATIA
Keyword(s):  
Manufacturing Sector ◽  
Fixed Effect Model ◽  
Manufacturing Firms ◽  
Capital Inflows ◽  
Public And Private ◽  
Effect Model ◽  
Foreign Capital Inflows ◽  
Indian Manufacturing Sector ◽  
Public And Private Sector ◽  
The Impact

The economic reforms of 1991 resulted in an increased inflow of FDI into theIndian economy. However, for the invention of new techniques and skills, there is a greatneed to invest on R&D, requires a huge amount of capital, which can be available throughFDI inflows. Technology has been imported in heavy amount after the implementation ofliberalization policies. Therefore, the present study intends to know whether FDIcontributes to the Indian manufacturing sector through R&D or not. The average growthof the manufacturing sector in India (7.93 per cent) has been found considerably higherduring the second decade of reforms (2001-2012) as compared to first decade reforms(1991-2000). In the context of this, the present study has tried to examine the trends andpatterns of FDI and R&D in manufacturing firms of India during the second decade ofreforms (2001-12) and also, to analyze the impact of FDI and exports on R&D inmanufacturing firms of India through fixed effect model. The results suggest that R&D hasbeen significantly impacted by the import of capital goods, foreign equity, disembodiedtechnology, and export intensity during the second decade of liberalization period. Thepresent study suggests that greater approvals for foreign capital inflows are required inIndia, for enhancing the R&D in the manufacturing sector. There must be an appropriatecoordination between public and private sector, which can improve the R&D expenditureof manufacturing firms of India.

scholarly journals THE EFFECTS OF SUPPLY CHAIN MANAGEMENT PRACTICES ON TECHNOLOGICAL INNOVATION: A CASE OF MANUFACTURING SECTOR OF PAKISTAN

2020 ◽  
Vol 2 (1) ◽  
pp. 58-75
Author(s):  
SYED ATIF ALI WARSI ◽  
DR. MUHAMMAD ASIM ◽  
SALMAN MANZOOR
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Technological Innovation ◽  
Information Quality ◽  
Management Practices ◽  
Manufacturing Sector ◽  
Manufacturing Firms ◽  
Partial Least Square ◽  
Manufacturing Firm ◽  
Chain Management

The purpose of the study is to examine the relationship between supply chain management practices (SCMP) on technological innovation in the manufacturing sector organizations of Pakistan. The supply chain management practices (SCMP) include in this study are strategic supplier partnership, information sharing, information quality, postponement and internal lean practices while technological innovation being the dependent variable. The target population for this study has been selected as the manufacturing sector in Pakistan. The study has collected 200 responses from the supply chain professionals of manufacturing firms of Karachi, Pakistan. For analysis of data, partial least square structural equation modelling (PLS-SEM) named Smart PLS version 3.2.8 has been used. The finding of the study showed that supply chain management practices have a positive impact on technological innovation. The postponement has the highest impact and positive relation with technological innovation, then strategic supplier partnership was found to a positive and significant impact on technological innovation, while information quality has lower impact and positive relationship with technological innovation. The study suggests that manufacturing firms should implement proper supply chain management practices for making their product and process innovations. The paper will provide insights to the manufacturing firm how these supply chain management practices help in technological innovation.

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