• Journal of Intelligence and Information Systems
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• v.21 no.4
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• pp.111-131
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• 2015

There are only a handful number of research conducted on pattern analysis of corporate distress as compared with research for bankruptcy prediction. The few that exists mainly focus on audited firms because financial data collection is easier for these firms. But in reality, corporate financial distress is a far more common and critical phenomenon for non-audited firms which are mainly comprised of small and medium sized firms. The purpose of this paper is to classify non-audited firms under distress according to their financial ratio using data mining; Self-Organizing Map (SOM). SOM is a type of artificial neural network that is trained using unsupervised learning to produce a lower dimensional discretized representation of the input space of the training samples, called a map. SOM is different from other artificial neural networks as it applies competitive learning as opposed to error-correction learning such as backpropagation with gradient descent, and in the sense that it uses a neighborhood function to preserve the topological properties of the input space. It is one of the popular and successful clustering algorithm. In this study, we classify types of financial distress firms, specially, non-audited firms. In the empirical test, we collect 10 financial ratios of 100 non-audited firms under distress in 2004 for the previous two years (2002 and 2003). Using these financial ratios and the SOM algorithm, five distinct patterns were distinguished. In pattern 1, financial distress was very serious in almost all financial ratios. 12% of the firms are included in these patterns. In pattern 2, financial distress was weak in almost financial ratios. 14% of the firms are included in pattern 2. In pattern 3, growth ratio was the worst among all patterns. It is speculated that the firms of this pattern may be under distress due to severe competition in their industries. Approximately 30% of the firms fell into this group. In pattern 4, the growth ratio was higher than any other pattern but the cash ratio and profitability ratio were not at the level of the growth ratio. It is concluded that the firms of this pattern were under distress in pursuit of expanding their business. About 25% of the firms were in this pattern. Last, pattern 5 encompassed very solvent firms. Perhaps firms of this pattern were distressed due to a bad short-term strategic decision or due to problems with the enterpriser of the firms. Approximately 18% of the firms were under this pattern. This study has the academic and empirical contribution. In the perspectives of the academic contribution, non-audited companies that tend to be easily bankrupt and have the unstructured or easily manipulated financial data are classified by the data mining technology (Self-Organizing Map) rather than big sized audited firms that have the well prepared and reliable financial data. In the perspectives of the empirical one, even though the financial data of the non-audited firms are conducted to analyze, it is useful for find out the first order symptom of financial distress, which makes us to forecast the prediction of bankruptcy of the firms and to manage the early warning and alert signal. These are the academic and empirical contribution of this study. The limitation of this research is to analyze only 100 corporates due to the difficulty of collecting the financial data of the non-audited firms, which make us to be hard to proceed to the analysis by the category or size difference. Also, non-financial qualitative data is crucial for the analysis of bankruptcy. Thus, the non-financial qualitative factor is taken into account for the next study. This study sheds some light on the non-audited small and medium sized firms' distress prediction in the future.

• Journal of Intelligence and Information Systems
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• v.26 no.4
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• pp.27-65
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• 2020

Many companies on information and communication technology make public their own developed AI technology, for example, Google's TensorFlow, Facebook's PyTorch, Microsoft's CNTK. By releasing deep learning open source software to the public, the relationship with the developer community and the artificial intelligence (AI) ecosystem can be strengthened, and users can perform experiment, implementation and improvement of it. Accordingly, the field of machine learning is growing rapidly, and developers are using and reproducing various learning algorithms in each field. Although various analysis of open source software has been made, there is a lack of studies to help develop or use deep learning open source software in the industry. This study thus attempts to derive a strategy for adopting the framework through case studies of a deep learning open source framework. Based on the technology-organization-environment (TOE) framework and literature review related to the adoption of open source software, we employed the case study framework that includes technological factors as perceived relative advantage, perceived compatibility, perceived complexity, and perceived trialability, organizational factors as management support and knowledge & expertise, and environmental factors as availability of technology skills and services, and platform long term viability. We conducted a case study analysis of three companies' adoption cases (two cases of success and one case of failure) and revealed that seven out of eight TOE factors and several factors regarding company, team and resource are significant for the adoption of deep learning open source framework. By organizing the case study analysis results, we provided five important success factors for adopting deep learning framework: the knowledge and expertise of developers in the team, hardware (GPU) environment, data enterprise cooperation system, deep learning framework platform, deep learning framework work tool service. In order for an organization to successfully adopt a deep learning open source framework, at the stage of using the framework, first, the hardware (GPU) environment for AI R&D group must support the knowledge and expertise of the developers in the team. Second, it is necessary to support the use of deep learning frameworks by research developers through collecting and managing data inside and outside the company with a data enterprise cooperation system. Third, deep learning research expertise must be supplemented through cooperation with researchers from academic institutions such as universities and research institutes. Satisfying three procedures in the stage of using the deep learning framework, companies will increase the number of deep learning research developers, the ability to use the deep learning framework, and the support of GPU resource. In the proliferation stage of the deep learning framework, fourth, a company makes the deep learning framework platform that improves the research efficiency and effectiveness of the developers, for example, the optimization of the hardware (GPU) environment automatically. Fifth, the deep learning framework tool service team complements the developers' expertise through sharing the information of the external deep learning open source framework community to the in-house community and activating developer retraining and seminars. To implement the identified five success factors, a step-by-step enterprise procedure for adoption of the deep learning framework was proposed: defining the project problem, confirming whether the deep learning methodology is the right method, confirming whether the deep learning framework is the right tool, using the deep learning framework by the enterprise, spreading the framework of the enterprise. The first three steps (i.e. defining the project problem, confirming whether the deep learning methodology is the right method, and confirming whether the deep learning framework is the right tool) are pre-considerations to adopt a deep learning open source framework. After the three pre-considerations steps are clear, next two steps (i.e. using the deep learning framework by the enterprise and spreading the framework of the enterprise) can be processed. In the fourth step, the knowledge and expertise of developers in the team are important in addition to hardware (GPU) environment and data enterprise cooperation system. In final step, five important factors are realized for a successful adoption of the deep learning open source framework. This study provides strategic implications for companies adopting or using deep learning framework according to the needs of each industry and business.

• Journal of Korean Society of Forest Science
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• v.106 no.4
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• pp.487-496
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• 2017

The marketization in North Korea is spreading rapidly. This study proposes forest rehabilitation strategy for North Korea in light of their major shift toward market economy. This current trend of marketization in North Korea is now affecting the forest sector, especially the way the residents utilize small forest land. For analyzing the influence of marketization on forest management in North Korea, we reviewed the official documents issued by North Korea and related materials of North Korean marketization. The government of Kim Jong Eun has set up policies and systems regarding the spread of marketization, such as guaranteeing individuals a right to dispose certain products on their own and establishing a special economic zone to attract foreign investments. In the forestry sector, the North Korean government has been trying to fully implement its forest restoration plan by carrying out measures like re-claiming of sloping lands that had been previously used by residents. However, as marketization progresses, it is expected that there lies much difficulty in government-led massive mobilization for forest restoration due to the increase of illegal logging to meet high demand for timber, illegal firewood harvesting, collecting non-timber products for livelihoods and illegal crop cultivation to sell in the market. Therefore, South Korea's support for forest restoration should also consider the recent marketization phenomenon in North Korea. It is necessary to formulate strategic measures such as conducting joint commercialization project on agroforestry management using cooperative farming unit, helping to improve income source from small forest lands, and to activate a comprehensive mountain village special economic zone by utilizing forest business. We do hope that our proposed forest rehabilitation strategy in this paper regarding the changes in North Korea's marketization and forest policy can give a meaningful suggestion on supporting forest restoration in North Korea in an effective way.

• Proceedings of the Technology Innovation Conference
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• 1998.06a
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• pp.116-127
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• 1998

The Necessity of Cyber University. Within the rapidly changing environment of global economics, the environment of higher education in the universities, also, has been, encountering various changes. Popularization on higher education related to 1lifetime education system, putting emphasis on the productivity of education services and the acquisition of competitiveness through the market of open education, the breakdown of the ivory tower and the Multiversitization of universities, importance of obtaining information in the universities, and cooperation between domestic and oversea universities, industry and educational system must be acquired. Therefore, in order to adequately cope wi th these kinds of rapid changes in the education environment, operating Cyber University by utilizing various information technologies and its fixations such as Internet, E-mail, CD-ROMs, Interact ive Video Networks (Video Conferencing, Video on Demand), TV, Cable etc., which has no time or location limitation, is needed. Using informal ion and telecommunication technologies, especially the Internet is expected to Or ing about many changes in the social, economics and educational area. Among the many changes scholars have predicted, the development and fixations of Distant Learning or Cyber University was the most dominant factor. In the case of U. S. A., Cyber University has already been established and in under operation by the Federate Governments of 13 states. Any other universities (around 500 universities has been opened until1 now), with the help of the government and private citizens have been able to partly operate the Cyber University and is planning on enlarging step-by-step in the future. It could be seen not only as U. S. A. trying to elevate its higher education through their leading information technologies, but also could be seen as their objective in putting efforts on subordinating the culture of the education worldwide. UTRA University in U. S. A., for example, is already exporting its class lectures to China, and Indonesia regions. Influenced by the Cyber University current in the U.S., the Universities in Korea is willing .to arrange various forms of Cyber Universities. In line with this, at JUNAM National University, internet based Cyber University, which has set about its work on July of 1997, is in the state of operating about 100 Cyber Universities. Also, in the case of Hanam University, the Distant Learning classes are at its final stage of being established; this is a link in the rapid speed project of setting an example by the Korean Government. In addition, the department of education has selected 5 universities, including Seoul Cyber Design University for experimentation and is in the stage of strategic operation. Over 100 universities in Korea are speeding up its preparation for operating Cyber University. This form of Distant Learning goes beyond the walls of universities and is in the trend of being diffused in business areas or in various training programs of financial organizations and more. Here, in the hope that this material would some what be of help to other Universities which are preparing for Cyber University, I would 1ike to introduce some general concepts of the components forming Cyber University and Open Education System which has been established by JUNAM University. System of Cyber University could be seen as a general solution offered by tile computer technologies for the management on the students, Lectures On Demand, real hour based and satellite classes, media product ion lab for the production of the multimedia Contents, electronic library, the Groupware enabling exchange of information between students and professors. Arranging general concepts of components in the aspect of Cyber University and Open Education, it would be expressed in the form of the establishment of Cyber University and the service of Open Education as can be seen in the diagram below.

• Journal of the Korea Society of Computer and Information
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• v.18 no.1
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• pp.167-175
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• 2013

This study set out from the perception that one should develop and activate differentiated programs from those 5 programs of the Health Family Support Center (family counseling program, family education support project, family affinity culture support project, care support project, diversity family support project) on the subjects (n=299) of residents in G metropolitan city by reflecting the levels of family values, communication between family members and family relationship. To achieve the study purposes above, this study devised research questions as follows: Research question 1. What are the levels of local residents for their family values, communication between family members and family relationship? Research question 2. Is there any difference in demanding family support project programs according to the local residents' family values, communication between family members and family relationship? Following are the results of this study: First, the levels were analyzed to be more than the average (on a maximum scale of 5 points) with local residents' family values (M=3.55, S.D.=.664), communication between family members (M=3.65, S.D.=.669), family relationship (M=3.69 S.D=.584) Second, the necessity levels for family values, communication between family members and family relationship of the group below the average as compared with the group over the average was found to be significantly high in family education support project, family affinity culture support project, care support project and diversity family support project except family counseling program. Accordingly, strategic plans for increasing the participation rate for the programs by the Health Family Support Center and activating those programs could be by investigating in advance the levels of family values, communication between family members and family relationship by each program respectively and differentiating the target level for the program by the group, or by giving preference to the group below the average who have high needs of program necessity when making decisions for the participation preference of the programs.

• Journal of Service Research and Studies
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• v.10 no.3
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• pp.23-42
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• 2020

This study conceptualized the essence and propensity of modern management in service age, based on philosophy, and developed items to evaluate the conceptualized content. It was carried out as a new study to deepen the study of management philosophy and management theory by the new management framework. In order to establish the philosophical foundation of the modern management, the essence of the modern management was conceptualized based on the fundamental ideas of the East and West, and then an evaluation item was developed to put the essence and propensity of the modern management into practical use through analytical and empirical methods. After analyzing the representative ideas of mankind, it was derived that the Book of Change has the qualification as a philosophical model that can derive the essence of modern management. The Book of Change explains the reasoning of the world in the structure of two opposing parties, such as Taiji or Yin and Yang, and the process of acknowledging the contradictions within each opposing party and overcoming the contradictions through change is the central idea. Because you can see. After conducting a conceptual study, through empirical research, the essence and propensity of a modern manager should be conceptualized. The concept of essence and empirical study of the modern management using the leading role was conducted in two stages. First, a qualitative study using repetitive comparative analysis (CCM), focus group interview (FGI), and text mining was conducted to derive the essential and propensity conceptualization items that modern managers should possess. In addition, a quantitative study using factor analysis to develop sample items and develop measurement items through literature review and FGI was conducted to derive the essential concept of the modern management. Finally, the essence of modern management was derived: learning, preparation, challenge, inclusion, trust, morality, and sacrifice. In the future, it is necessary to conduct empirical research on the effectiveness of the essence of modern management for global and Korean representative companies.

• Knowledge Management Research
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• v.22 no.3
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• pp.151-172
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• 2021

The government's implementation of customer-friendly financial policies, such as lowering commission fees for credit card merchants and lowering the maximum interest rate, put the specialized credit finance companies in a crisis of lowering profitability. In this unfavorable situation, the efficiency study of specialized credit finance companies is meaningful. Accordingly, this study measured the efficiency of 34 specialized credit finance companies through Data Envelopment Analysis (DEA) and meta-frontier analysis. For meta-frontier analysis, specialized credit finance companies were divided into two groups (card companies and non-card companies) by industry or three groups (AA0 and above, AA-, and A+ or below) by credit rating. The results of the analysis will provide general insight into the efficiency of specialized credit finance companies. The results of this study are as follows. First, the average meta-efficiency of card companies was analyzed higher than that of non-card companies. Second, 80% of non-card's decision-making units (DMUs) were inefficient by pure technology rather than by scale. Third, decision-making units (DMUs), which account for 62.5% of the credit card company group and 80% of the 'AA-' credit rating group, are in non-economic areas of scale. Fourth, there was no statistically significant difference in meta-efficiency values (TE and PTE) by industry (card companies, non-card companies) and credit rating (AA0 or higher, AA-, A+ or lower). The contribution of this study will provide strategic initiatives for establishing management strategies to improve inefficiency by measuring the efficiency level of companies under an unfriendly business environment for specialized credit finance companies.

• Journal of Service Research and Studies
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• v.12 no.2
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• pp.1-22
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• 2022

This study was conducted based on the service philosophy as a study to capitalize on the wisdom of Korea and Koreans. This is a study that capitalizes on the wisdom of the founding president who led civilization changes in Korea. Wisdom as a visionary leader who played a leading role in Korea's development from a continental civilization to a maritime civilization was derived. We analyzed the wisdom of the founding president, who established the Republic of Korea with a new identity as a liberal democracy and protected it, and laid the foundation for Korea to leap into an advanced country through legal system reform and human resource development. First, we analyzed the essence of politics and presented the essential tragic nature that visionary leaders must bear as politicians. We also analyzes his courage and belief to accept a tragic fate, the insights on the spirit of independence, anti-communism, liberal democracy and the future. We analyze the wisdom as a visionary leader that is consistently revealed through countless choices and decisions to give up. It suggests that such wisdom is essential for the founding and development of a nation, and the wisdom need to be assetized. It needs a solid philosophical foundation to become a useful wisdom asset in the long run. In this study, Syngman Rhee's wisdom was assetized on the basis of the service philosophy. This is because it is wisdom based on the fiercely symmetrical balance principle. Human resource development was a choice that entailed great sacrifice, the market economy was a choice that entailed great sacrifice, and the protection of liberal democracy was also a choice that entailed great sacrifice, so it can be said that it is wisdom that fits the essence of the service philosophy. It is wisdom found only in outstanding visionary leaders. We present the wisdom of building a free democratic country, the wisdom of building a free market economy, and the wisdom of building a talent-oriented nation as assets in terms of national management philosophy, national management owner, time frame, and strategic asset. It also suggests that visionary leaders are continuously required for the long-term sustainable development of mankind and Korean society.

• Journal of Service Research and Studies
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• v.14 no.2
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• pp.82-100
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• 2024

Due to the intensifying global technological competition, the strategic and economic importance of intellectual property such as patents as intangible assets is increasing. The purpose of this study is to understand the current status of patent innovation in the service industry and to derive the characteristics and implications of patent innovation in the service industry. To this end, this study conducted an investigation and analysis to understand the characteristics of patent innovation in the service industry based on the data from the business activity survey. The proportion of patent companies in the service industry, characteristics of each service industry, proportion of each service industry, and the number of patent rights holdings were analyzed. In addition, the trend of patent changes in the service industry was investigated. The service industry was compared and analyzed with other industries based on the results of the analysis of patent innovation in the service industry. In particular, the service industry was divided into four types in terms of the rate of increase in the proportion of patent companies and the ratio of patent holing companies, and the types were derived. Based on the analysis results, the characteristics of patent innovation in the service industry were presented. As a result of the study, the proportion of patent holding companies in the service industry was lower than that of other industries, and the gap with other industries was widening, showing that the patent innovation of service companies is lower than that of other industries. The average number of patents held by service industry companies was lower than that of other industries, and the increase rate of the number of patent rights held was also lower than that of other industries, widening the gap. Patent innovation in the service industry can be divided into four quadrants in terms of the rate of increase in the proportion of patent holding companies and the proportion of patent holding companies, and it has been studied that the service industry needs policy support suitable for the characteristics of patent innovation in the quadrant to which the individual service industry belongs.

• Journal of Global Scholars of Marketing Science
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• v.18 no.2
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• pp.19-45
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• 2008

This study is to empirically examine the primary dimensions of visual merchandising (VMD) of internet shopping mall, namely store design, merchandise, and merchandising cues, to be a attractive virtual store to the shoppers. The authors reviewed the literature related to the major components of VMD from the perspective of the AIDA model, which has been mainly applied to the offline store settings. The major purposes of the study are as follows; first, tries to derive the variables related with the components of visual merchandising through reviewing the existing literatures, establish the hypotheses, and test it empirically. Second, examines the relationships between the components of VMD and the attitude toward the VMD, however, putting more emphasis on finding out the component structure of the VMD. VMD needs to be examined with the perspective that an online shopping mall is a virtual self-service or clerkless store, which could reduce the number of employees, help the shoppers search, evaluate and purchase for themselves, and to be explored in terms of the in-store persuasion processes of customers. This study reviewed the literatures related to store design, merchandise, and merchandising cues which might be relevant to the store, product, and promotion respectively. VMD is a total communication tool, and AIDA model could explain the in-store consumer behavior of online shopping. Store design has to do with triggering a consumer attention to the online mall, merchandise with a product related interest, and merchandising cues with promotions such as recommendation and links that induce the desire to pruchase. These three steps might be seen as the processes for purchase actions. The theoretical rationale for the relationship between VMD and AIDA could be found in Tyagi(2005) that the three steps of consumer-oriented merchandising are a store, a product assortment, and placement, in Omar(1999) that three types of interior display are a architectural design display, commodity display, and point-of-sales(POS) display, and in Davies and Ward(2005) that the retail store interior image is related to an atmosphere, merchandise, and in-store promotion. Lee et al(2000) suggested as the web merchandising components a merchandising cues, a shopping metaphor which is an assistant tool for search, a store design, a layout(web design), and a product assortment. The store design which includes differentiation, simplicity and navigation is supposed to be related to the attention to the virtual store. Second, the merchandise dimensions comprising product assortments, visual information and product reputation have to do with the interest in the product offerings. Finally, the merchandising cues that refer to merchandiser(MD)'s recommendation of products and providing the hyperlinks to relevant goods for the shopper is concerned with attempt to induce the desire to purchase. The questionnaire survey was carried out to collect the data about the consumers who would shop at internet shopping malls frequently. To select the subject malls, the mall ranking data announced by a mall rating agency was used to differentiate the most popular and least popular five mall each. The subjects was instructed to answer the questions after navigating the designated mall for five minutes. The 300 questionnaire was distributed to the consumers, 166 samples were used in the final analysis. The empirical testing focused on identifying and confirming the dimensionality of VMD and its subdimensions using a structural equation modeling method. The confirmatory factor analysis for the endogeneous and exogeneous variables was carried out in four parts. The second-order factor analysis was done for a store design, a merchandise, and a merchandising cues, and first-order confirmatory factor analysis for the attitude toward the VMD. The model test results shows that the chi-square value of structural equation is 144.39(d.f 49), significant at 0.01 level which means the proposed model was rejected. But, judging from the ratio of chi-square value vs. degree of freedom, the ratio was 2.94 which smaller than an acceptable level of 3.0, RMR is 0.087 which is higher than a generally acceptable level of 0.08. GFI and AGFI is turned out to be 0.90 and 0.84 respectively. Both NFI and NNFI is 0.94, and CFI 0.95. The major test results are as follows; first, the second-order factor analysis and structural equational modeling reveals that the differentiation, simplicity and ease of identifying current status of the transaction are confirmed to be subdimensions of store design and to be a significant predictors of the dependent variable. This result implies that when designing an online shopping mall, it is necessary to differentiate visually from other malls to improve the effectiveness of the communications of store design. That is, the differentiated store design raise the contrast stimulus to sensory organs to promote the memory of the store and to have a favorable attitude toward the VMD of a store. The results that navigation which means the easiness of identifying current status of shopping affects the attitude to VMD could be interpreted that the navigating processes via the hyperlinks which is characteristics of an internet shopping is a complex and cognitive process and shoppers are likely to lack the sense of overall structure of the store. Consequently, shoppers are likely to be alost amid shopping not knowing where to go. The orientation tool enhance the accessibility of information to raise the perceptive power about the store environment.(Titus & Everett 1995) Second, the primary dimension of merchandise and its subdimensions was confirmed to be unidimensional respectively, have a construct validity, and nomological validity which the VMD dimensions supposed to have a positive correlation with the dependent variable. The subdimensions of product assortment, brand fame and information provision proved to have a positive effect on the attitude toward the VMD. It could be interpreted that the more plentiful the product and brand assortment of the mall is, the more likely the shoppers to favor it. Brand fame and information provision as well affect the VMD attitude, which means that the more famous the brand, the more likely the shoppers would trust and feel familiar with the mall, and the plentifully and visually presented information could have the shopper have a favorable attitude toward the store VMD. Third, it turned out to be that merchandising cue of product recommendation and hyperlinks affect the VMD attitude. This could be interpreted that recommended products could reduce the uncertainty related with the purchase decision, and the hyperlinks to relevant products would help the shopper save the cognitive effort exerted into the information search and gathering, which could lead to a favorable attitude to the VMD. This study tried to sheds some new light on the VMD of online store by reviewing the variables mentioned to be relevant with offline VMD in the existing literatures, and tried to link the VMD components from the perspective of AIDA model. The effect size of the VMD dimensions on the attitude was in the order of the merchandise, the store design and the merchandising cues.It is said that an internet has an unlimited place for display, however, the virtual store is not unlimited since the consumer has a limited amount of cognitive ability to process the external information and internal memory. Particularly, the shoppers are likely to face some difficulties in decision making on account of too many alternative and information overloads. Therefore, the internet shopping mall manager should take into consideration the cost of information search on the part of the consumer, to establish the optimal product placements and search routes. An efficient store composition would be possible by reducing the psychological burdens and cognitive efforts exerted to information search and alternatives evaluation. The store image is in most part determined by the product category and its brand it deals in. The results of this study support this proposition that the merchandise is most important to the VMD attitude than other components, the manager is required to take a strategic approach to VMD. The internet users are getting more accustomed and more knowledgeable about the internet media and more likely to accept the internet as a shopping channel as the period of time during which they use the internet to shop become longer. The web merchandiser should be aware that the product introduction using a moving pictures and a bulletin board become more important in order to present the interactive product information visually and communicate with customers more actively, therefore leading to making the quantity and quality of product information more rich.