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Klebsiella pneumoniae Liver Abscess
전재범 대한감염학회 2018 Infection and Chemotherapy Vol.50 No.3
Since the mid 1980s, the prevalence of liver abscess caused by hypervirulent Klebsiella pneumoniae strain has increased in Asia, particularly in Taiwan and Korea. This strain is mostly K1 or K2 serotype, and has hypercapsular and hypermucoid phenotypes. Most infections are community acquired, and patients rarely have a hepatobiliary disease prior to infection. Clinical manifestations are characterized by fever and high C-reactive protein, and metastatic infections, such as septic emboli in the lung and endophthalmitis and meningitis are frequently observed. Antibiotic resistance is rare. Antibiotic treatment and abscess drainage are needed, and early diagnosis and treatment of endophthalmitis is also important.
Appraisal of Revenue Cap Agreement in BOT Project Finance
전재범 국토연구원 2009 국토연구 Vol.63 No.-
Limited public funds for infrastructures have the government consider joining the private in a BOT project finance scheme. Generally, the BOT projects entail lots of managerial flexibilities that may induce the radical change of project's cash flows, an asymmetric payoff, when facing on the uncertainties comes from the BOT project finance's unique characteristics. Among various managerial flexibilities occur in the BOT projects, the revenue cap agreement is frequently used to protect the government from the private's revenue exploitation. However, its impact on the project value is not well understood because the popular capital budgeting theory, NPV(Net Present Value) analysis, is limited to assess the contingency of this agreement. The purpose of this paper is to develop the numerical model to better assess the impact of the revenue cap agreement on the project value with the concept of the option pricing theory and to suggest a theoretical framework in quantitatively evaluating this agreement. The approach applied in this paper is justified with the hypothetical BOT toll case to show its applicability and some meaningful conclusions are drawn from. The results by the option pricing concept are scrutinized over those by NPV analysis and, finally, the revenue cap value appears significant relative to the project value.