• Journal of Technology Innovation
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• v.26 no.4
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• pp.199-232
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• 2018

There are increasing needs for understanding and fathoming of business management environment through big data analysis at industrial and corporative level. The research using the company disclosure information, which is comprehensively covering the business performance and the future plan of the company, is getting attention. However, there is limited research on developing applicable analytical models leveraging such corporate disclosure data due to its unstructured nature. This study proposes a text-mining-based analytical model for industrial and firm level analyses using publicly available company disclousre data. Specifically, we apply LDA topic model and word2vec word embedding model on the U.S. SEC data from the publicly listed firms and analyze the trends of business topics at the industrial and corporate levels. Using LDA topic modeling based on SEC EDGAR 10-K document, whole industrial management topics are figured out. For comparison of different pattern of industries' topic trend, software and hardware industries are compared in recent 20 years. Also, the changes of management subject at firm level are observed with comparison of two companies in software industry. The changes of topic trends provides lens for identifying decreasing and growing management subjects at industrial and firm level. Mapping companies and products(or services) based on dimension reduction after using word2vec word embedding model and principal component analysis of 10-K document at firm level in software industry, companies and products(services) that have similar management subjects are identified and also their changes in decades. For suggesting methodology to develop analysis model based on public management data at industrial and corporate level, there may be contributions in terms of making ground of practical methodology to identifying changes of managements subjects. However, there are required further researches to provide microscopic analytical model with regard to relation of technology management strategy between management performance in case of related to various pattern of management topics as of frequent changes of management subject or their momentum. Also more studies are needed for developing competitive context analysis model with product(service)-portfolios between firms.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.45-70
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• 2009

This article investigates which types of the strategies announced by the listed firms contribute to enhancing the long-term performance of the companies. Since 2002, Korean Exchange adopted the "faire disclosure policy" which mandates that all publicly traded companies must disclose material information to all investors at the same time. Thanks to the policy, Korean investors can, now, easily access the board's decision on management strategies on the same day the decision is made. If the companies trustfully carry out their announced strategies, we can decide which types of strategies actually enhance or deteriorate the long-term performance, simply by comparing the announced strategies and the firm's performance. The sample companies are confined to 60 firms that became listed in the KOSDAQ market through back-door listing from 2003 to 2005. Using only the newly listed companies, we can avoid the interference on the long-term performance of the strategies pursued before the event date. This often holds true, for many companies radically modify their strategies after the listing. Furthermore, the back-door listing companies serve our purpose better than IPO companies do, because the former tend to have a variety of announcement within a given period of time beginning the listing date. Using these sample companies, this article analyzes the effect on one year buy-and-hold returns and abnormal buy-and-hold returns after the listing of the various types of strategies announced during the same period of time. The results show that those evidences of restructuring such as 'reduction of capital' and 'resignation of incumbent board members', actually contribute to the increase in adjusted long-term stock returns. Those strategies which can be view as evidence of new investment such as 'increase in tangible assets', 'acquisition of other companies', do also helps the stockholders better off. On the contrary, 'increase in bank loans', 'changes of CEO' and 'merger' deteriorate the equity value. The last findings let us to presume that the back-door listing companies appear to use the bank loans for value-reducing activities; the change in CEO is not a sign of restructuring, but rather a sign of failure of the restructuring; another merger carried out after back-door listing itself is also value-reducing activity. This article's findings on reduction of capital, merger and bank loans oppose the results of the former empirical studies which analyze only the short-term effect on stock price. Therefore, more long-term performance studies on public disclosures are in order.

• Economic and Environmental Geology
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• v.46 no.3
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• pp.235-246
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• 2013

The importance of R&D has been recognized around the world and Korean research funding has rapidly increased in recent years. As a results, interest in strategic R&D Investment is growing in both the public and private sectors. This study was carried out to find trends in the research projects of the KIGAM since the fiscal year of 1976. The KIGAM expended 1,193.3 billion won during the 36 years from the fiscal years of 1976 to 2011, which is 1,795.8 billion won calculated using the present value in 2011 at discount rate of 5%. R&D expenditure of KIGAM increased approximately 132.9 times from 885 million won in 1976 to 117,600 million won in 2011, and about 24.1 times from 4,882 million won in 1976, as calculated using the present value in 2011. The number of research projects increased about 6.75 times, from 28 projects in 1976 to 189 projects in 2011. Based on research trend analysis over the last 36 years, the percentage of research projects by research fields were as follows: mineral resources research, 39.5%; geologic environmental research, 28.8%; geological research, 15.6%; petroleum and marine research, 12.1%; and policy research, 3.1%. The percentage of the R&D budget dedicated to each type of research were as follows: mineral resources research, 33.1%; geologic environmental research, 25.6%; geological research, 22.8%; petroleum and marine research, 15.9%; and policy research, 2.1%. Allocation of R&D investment was determined by considering the governmental priority of such research, as well as which area were most promising. Based on the research projects trends within KIGAM and analyses of its R&D, we should build our R&D portfolio in the areas of geosciences and mineral resources.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.63-75
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• 2023

This study conducted empirical analysis on the factors affecting the investment performance of 205 domestic venture funds (with a total liquidation amount of 7.25 trillion KRW) newly formed from 2007 to 2017 and completely liquidated as of the end of 2022. Due to the nature of private equity funds, obtaining empirical data is extremely challenging, especially for data post-COVID-19 era liquidations. Nevertheless, despite these challenges, it is meaningful to analyze the impact on the investment returns of domestic venture funds using the most recent data available from the past 10 years. This study categorized the factors influencing venture fund performance into external environmental factors and internal factors. External environmental factors included "economic cycles," "stock markets," "venture markets," and "exit markets," while internal factors included the fund management company's capabilities in terms of "experience," "professional personnel," and "assets under management (AUM)." The fund structure was also categorized into "fund size" and "fund length" for comparative analysis. In summary, the analysis yielded the following results: First, the 3-year government bond yield, which represents economic cycles well, was found to have a significant impact on fund performance. Second, the average 3-month KOSDAQ index return after fund formation had a statistically significant positive effect on fund performance. Third, the number of IPOs, indicating the competition intensity at the time of venture fund liquidation, was shown to have a negative effect on fund performance. Fourth, it was observed that the larger the AUM of the fund management company, the better the fund's returns. Finally, venture fund returns showed variations depending on the year of formation (Vintage). Therefore, when individuals consider investing in venture funds, it is considered a highly effective investment strategy to construct an investment portfolio taking into account not only external environmental factors and internal fund factors but also the vintage year.

• The Korean Journal of Financial Management
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• v.10 no.1
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• pp.249-280
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• 1993

Recent financial theory views insurance policies as financial instruments that are traded in markets and whose prices reflect the forces of supply and demand. This article analyzes individual's insurance purchasing behavior along with capital market investment activities, which will provide a more realistic look at the tradeoff between insurance and investment in the individual's budget constraint. It is shown that the financial economic concept of insurance cost should reflect the opportunity cost of insurance premium. The author demonstrates the importance of riskless and risky financial assets in reaching an equilibrium insurance premium. In addition, the paper also investigates how the investment income could affect the four established theorems on traditional insurance literature. At the present time in Korea, the price deregulation is being debated as the most important current issue in insurance industry. In view of the results of this paper, insurance companies should recognize investment income in pricing their coverage if insurance prices are deregulated. Otherwise. price competition may force insurance companies to restrict coverage or to leave the market.

• Journal of The Korean Association For Science Education
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• v.24 no.3
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• pp.519-531
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• 2004

In recent years, there has been an increased emphasis on performance assessment to evaluate students' abilities. Our nation has introduced a change in testing and assessment. Additional work on the efficacy, reliability, and comparability in order to develop the performance assessment item has been needed in the enforcement of the 7th National Science Curriculum. Also, criteria for professional and technical standards has been needed to be developed. The purpose of this study was to draw out various key concepts and to develop achievement standards, assessment standards and performance assessment items based on the 7th National Science Curriculum on the subject matter of reproduction(chapter 13) and biological accumulation(chapter 17). And also, this study examined the validity of completed performance assessment items based on classical test theory and polytomous item response theory. Twelve key concepts in chapter 13(reproduction) and four from chapter 17(biological accumulation) were abstracted. Twenty-six achievement standards in chapter 13(reproduction), and nine in chapter 17(biological accumulation) were developed. The achievement standards were determined in terms of knowledge(K), process skill(P) and attitude(A). Twenty-five assessment standards in chapter 13(reproduction) and nine in chapter 17(biological accumulation) were developed. Based on the developed achievement standards and assessment standards, twenty-two performance assessment items(seventeen open-ended questions, three essays, and two portfolios) with concrete grading criteria were developed. Eight open-ended items were applied to 240 10th graders to evaluate reliabilities of the test which consisted of four items per each chapter. The results would be suggested that the applied items were valid for performance assessment because item difficulties and item discriminations were proper. There was not much differences in item discrimination between interpretation from classical test theory and that from polytomous item response theory. However, there were some differences in item difficulties between the interpretations of two theories because the characteristics of examinees were reflected in classical test theory.

• 대한공업교육학회지
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• v.41 no.1
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• pp.128-146
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• 2016

The purpose of this study was to provide a basic research data for increasing the quality of 'creative engineering design' lesson and the teaching learning capability of high school teachers by analyzing the teaching learning management status and improvement plan of 'technology home economics subject' lesson for high school teachers. In order to investigate the teaching learning management status, the survey questionnaires from 63 teachers were collected from high school teachers who teach technology home economics subject currently and analyzed by statistical program SPSS 20. The main results of this study were as follows: First, for the contents of 'creative engineering design' lesson, the highest mean of response was 'creative thinking method'(M=4.22). In the learning activities, the teachers perceived the importance of the 'idea concept' highly. Second, in the management of 'creative engineering design' lesson, the teachers perceived the importance of the secure of tool, material budget, and practice space for the lesson highly. In the teaching capabilities, the teacher perceived the importance of the preparing teaching learning strategy most($$M{\frac{._-}{.}}4.14$$). Third, the teachers preferred to product for making uncomfortable things better in life and the other production outside from the content of textbook. Fourth, in the ratio of practice:theory lesson, they perceived the ratio of 3:7(36.5%), 4:6(25.4%), and 2:8(23.8%) are appropriate. In the assessment, the combination of production, portfolio, and presentation was preferred most. Fifth, there were statistically significant difference in teachers' interest and satisfaction and contents about 'creative engineering design' lesson between groups divided by the existence of practice space, certification held(technology teacher, non technology teacher), etc. Therefore, in order to improve the interest and satisfaction about the 'creative engineering design' lesson, the secure of space for technology practice and material budget were required. In addition, training and seminars program for improving the teaching capability for 'creative engineering design' lesson were required.

• Journal of Korean Home Economics Education Association
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• v.22 no.3
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• pp.163-188
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• 2010

This study set out to develop and evaluate an educational program for the Clothing Life of Home Economics through the theme-based integrated approach develop integrated thinking abilities for solving everyday problems. For those purposes, it selected a couple of themes in the area of Clothing Life toward which the theme-based integrated approach could be develop and evaluate an educational program. The developed program was applied and assessed in total 28 hours of field lessons given to eighth graders attending B Middle School in Busan Metropolitan City. The analysis stage involved an exploration into programs related to an integrated approach to other subjects; the design stage identification of program types; and the development stage theme selection according to the selection criteria. The previous studies were analyzed along with the Technology and Home Economics textbooks to select a theme. two themes "Clothing Management" and "Fabrics(Materials)" were selected after discussing with the students on the Messenger and with a group of experts. Then content was organized and composed around the themes by discussing connections with other subjects. There were three evaluation; one by experts, another through preliminary lessons, and the other through field lessons. Following the research procedure, a theme-based integrated program was developed for the two selected themes. It contained total 49 and 32 learning materials for "Clothing Management" and "Fabrics(Materials)," respectively. Those learning materials were comprised of experiments and practices according to the nature of the themes. Each program consisted of the goals, learning content, content organization chart, learning activities, and evaluation; learning activities experiences, practice and experiment activities, self-directed activities and problem-solving processes; and evaluations self-evaluation, teacher evaluation, peer evaluation, portfolio, and experiment reports. The program was assessed three times. The first and second evaluation results found that the program was well compatible with the current needs, was properly organized to give lessons through integration with other subjects, and continuously maintained the students' interest. They, however, requested that there should be detailed explanations about each part of the program content. In the third evaluation done by the students during field lessons, 60% of them said that the program was fun and its content was easy to understand, that they realized a theme could be connected to several other subjects, and that the program could be applied to actual life. The educational program through the theme-based integrated approach is significant in that it is an educational program for the area of Clothing Life and tries an integrated approach. It helped the students not only gather knowledge in an integrated manner, but put it to practical uses to solve various problems they faced in actual life by creatively changing integrated knowledge. The study will be hopefully used by many teachers so that the students solve problems based on the ability of integrating various knowledges organically.

• Journal of Korean Home Economics Education Association
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• v.17 no.2
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• pp.197-219
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• 2005

This study attempted, in accordance with the National Educational Curriculum, to develop achievement assessment standards for a course within the field of home economics which has been widely adopted by Korean vocational high schools, namely, the food and nutrition subject. Focus was also placed on strengthening the management of the curriculum for this food and nutrition course, as well as on establishing proper assessment standards by developing model assessment tools which can be used to assess the subject. The results of this study can be summarized as follows : First, based on an analysis of the related literature and materials. the desired notion of the achievement and assessment standards was established, and their significance ascertained the achievement and assessment standards for the food and nutrition course were set and the type of model assessment tool which should be developed, as well as the method in which it should be applied. was established Second. by analyzing the curriculums and the contents of the textbooks used in the food and nutrition subject, the researcher was able to compile the 70 factors which could to be used to develop the achievement and assessments standards, and then classify these into 6 main categories and 32 sub-categories. Based on the characteristics of these factors and learners' academic performance levels the number of factors was expanded to 89 in order to establish the achievement standards. In turn, these achievement standards were used, in accordance with the learners' achievement and teaming activity levels, to develop three different levels of assessment standards. namely, upper, middle, and lower ones. Third. a model assessment tool was developed which could be used by individual school units as a reference in terms of achievement and assessment standards, and that could be modified to meet each school's circumstances. In order to create the model assessment tool a 100-question questionnaire was formulated that contained various types of questions, such as essay, report, theoretical and practical, portfolio, as well as multiple choice-type questions. Lastly, the researcher introduced measures to effectively use the achievement and assessment standards developed for the food and nutrition course, as well as the model assessment tool in school units.

• Journal of Christian Education in Korea
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• v.61
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• pp.165-201
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• 2020

The purpose of this study is to explore the development of language education of Christian early childhood education by exploring the change of pre-Christian preschool teachers through the development of biblical language education activities. Interviews, surveys, action plans, and reflections of 19 Christian education students who participated in the development of bible-based language education activities for children based on the language of early childhood language, were conducted from September 3 to December 28, 2018. The data were collected through a portfolio. By analyzing the collected data, the key categories were derived and categorized. For the objectification of data analysis and interpretation, two thematic and early childhood education specialists were identified. As a result, the preparatory Christian teacher experience for the development of bible-based langage education activities for young children was categorized into cognitive change, personality change and practical change. First, through the development of bible-based early childhood language education activities, Christian pre-service early childhood teachers have brought cognitive changes as 'processes not outcomes', 'integration not separation', 'living non-curriculum' and 'meaning not effect'. In developing bible-based language education activities for young children, Christian pre-service early childhood teachers experienced a cognitive change in the 'process of language education activities' rather than the developmental achievements and results of early childhood language education. Christian pre-service early childhood teachers recognized the necessity of 'integration of listening-speaking-reading-writing', not the separation of early childhood language education. They recognized the importance of 'informal language education in kindergarten life', as well as teacher-centered formal language education. In addition, they have made a cognitive change that 'child-centered meaningful language education experience' is more important than the effectiveness of early childhood language education. Second, in developing bible-based language education activities for young children, Christian pre-service early childhood teachers showed personality changes as 'confident teachers', 'professional teachers', and 'teachers with reflective thoughts and attitudes'. Finally, in developing bible-based language education activities for young children, Christian pre-service early childhood teachers recognized the power of positive language and practiced it to form habits of using the right language and to link Christian education with early childhood education. Through the development of bible-based language education activities for young children, Christian pre-service early childhood teachers are equipped with the heart attitude and enthusiasm required to become true early childhood teachers for young children in unpredictable educational conditions and rapidly changing educational realities. Teacher efficacy has improved. In the future, it is expected that various teacher education programs linking Christian education and early childhood education will be continuously and systematically implemented.