• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.4 no.4
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• pp.1-25
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• 2009

The Government is putting efforts to enhance efficiency and productivity of performances of National R&D Programs by enacting 'Law on Evaluation and Management of Performances of National R&D Program'. This study is the result of development of evaluation model and indices for analysis of efficiency through meta evaluation method for the specific evaluation among evaluation systems for National R&D Program that are being carried out at government-wide level. Meta evaluation model for analysis of efficiency of evaluation system for National R&D Program designed evaluation indices by categorizing compositional factors into 5 categories, namely, evaluation context factor, evaluation resources factor, evaluation process factor, evaluation result factor and evaluation utilization factor. Furthermore, the result of verification of reliability on evaluation composition factors and evaluation indices analyzed to select evaluation items displayed Cronbach' $\alpha$ coefficient of 0.933, thereby illustrating that there is no major problem in the evaluation index system. In addition, computation of weight for each evaluation composition factor and evaluation index was analyzed by using analytical hierarchy process (AHP) technique. The result of analysis displayed overall consistency index of less than 0.1 for the investigators, thereby enabling analysis that there is consistency in investigators.

• The Korean Journal of Financial Management
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• v.25 no.3
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• pp.111-130
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• 2008

This paper compares long term equilibrium relation of KOSPI 200 which is underling stock and its futures by using general method fractional cointegration instead of existing integer cointegration. Existence of integer cointegration between two price time series gives much wider information about long term equilibrium relation. These details grasp long term equilibrium relation of two price time series as well as reverting velocity to equilibrium by observing difference coefficient of error term when it renounces from equilibrium relation. The result of this study reveals existence of long term equilibrium relation between KOSPI200 and futures which follow fractional cointegration. Difference coefficient, d, of 'two price time series error term' satisfies 0 < d < 1/2 beside bandwidth parameter, m(173). It means two price time series follow stationary long memory process. This also means impulse effects to balance price of two price time series decrease gently within hyperbolic rate decay. It indicates reverting speed of error term is very low when it bolts from equilibrium. It implies to market maker, who is willing to make excess return with arbitrage trading and hedging risk using underling stock, how invest strategy should be changed. It also insinuates that information transition between KOSPI 200 Index market and futures market does not working efficiently.

• Journal of Service Research and Studies
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• v.9 no.1
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• pp.51-71
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• 2019

The purpose of this research is to analyze the ETF market, which has a large increase in the number of listed shares and the market capitalization, and to identify the investment effects of ETFs. The study procedure and method used to calculate the return and change trend of ETFs for the sample of the transaction information, the transaction amount, and the market capitalization for the period from 2010 to 2018, and performed correlation and regression analysis. As a result, the ETF's total return was 2.11%, the domestic underwriting market ETF yield was 2.39%, and the stock ETF yield was 2.59%, which was lower than the KOSPI 200 index and the KOSPI 200 index. Index ETF was 2.63%, followed by stock ETF and oversea underwriting market ETF. The problem with ETF investment is that the annual return of ETFs and domestic ETFs is as low as 2%, which is not enough for investors to expect more than 5%. The study contributes to the realization of the ETF by analyzing the actual effect of the investment and to establishing considerations when buying ETFs from the viewpoint of investors. The direction of the research is to accumulate more ETF data and present the investment direction precisely.

• The Korean Journal of Financial Management
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• v.26 no.2
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• pp.113-153
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• 2009

Financial conglomerates combine banking, securities, insurance and other financial services within a single economic entity. In this paper we analyze the effect of financial conglomeration on the default risk of financial companies in the Korean financial industry. We use two risk measures based on individual company level as proxies of the default risk, one is Z-index proposed by Altman(1968) and the other is the weighted capital adequacy ratio. We find that financial conglomeration has a negative effect on the default risk of financial companies. The asset size and diversity level of financial conglomerates, however, are negatively correlated with the default risk of financial companies. These results mean that in the Korean financial industry, even though the economy of scale and scope does exist, financial conglomeration does not translate into lower risk of financial companies composing financial conglomerates.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.10 no.3
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• pp.677-683
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• 2009

This study measures the relative efficiency and productivity change of IT firms received policy fund using DEA model and Malmquist Index for 2006-2007. The main results of this study can by summarized as follows. First, in case of efficiency of CCR for 2006-2007, the number of efficient firms(CCR value is one) are six firms, six firms, respectively. Second, in case of efficiency of BCC for 2006-2007, the number of efficient firms(BCC value is one) are eleven firms, thirteen firms respectively. Third, In case of return to scale for 2006-2007, DRS are fifteen firms and fourteen firms respectively. IRS are two firms and one firm respectively. DRS firms can improve efficiency by the reduction of scale and IRS Firms can improve efficiency by the increase of scale. Fourth, Mean value of Malmquist Index representing productivity change for 2006-2007 are bigger than 1.00. This imply that productivity increase was achieved.

• Journal of Distribution Science
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• v.16 no.12
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• pp.69-80
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• 2018

Purpose - Our primary goal of this study is to investigate the positive relationship between female managers' self-determined motivations (i.e., RAI: relative autonomy index) and job performances with the mediation of their job creativity in service industries. This study also examines the moderating role of creative efficacy on the relationship between female managers' self-determined motivations and creativities. Finally, based on mediation and moderation hypotheses, we also tested moderating effect of creative efficacy on the mediation effect of job creativity. Research design, data, and methodology - Drawing on SDT(Self-determination theory) and COR(conservation of resources) theories, we developed three research hypotheses. Service female managers from a several service organizations(i.e. banking, retailing, and restaurant/hospitality service) in South Korea were surveyed using self-administered instrument for data collection. A total of 331 usable questionnaires were obtained after list-wise deletion. To test reliability and validity of measurement model, we employed the CFA(confirmatory factor analysis) using M-plus 8.1 Software. Also, internal consistency was tested by Cronbach's α. We, furthermore, used the SPSS PROCESS MACRO 2.16, which was suggested by Hayes (2013; 2015), to test mediation, moderation, and moderated mediation. Results - Our results revealed that self-determined motivation and job performance were positively and fully mediated by job creativity. Furthermore, the positive relationship between female managers' self-determined motivations and job creativities was stronger when their creative self-efficacies were high than when it was low. In addition, female managers' creative self-efficacies also amplified the positive relationship between their self-determined motivations and job performances with the mediation of job creativity. Conclusions - Our research empirically elaborated the previous model of self-determined motivation and manager/female creativity literature by presenting the findings that female managers' self-determined motivations significantly influence their job performances via job creativity and that creative self-efficacy effectively strengthen these positive impacts. Also, our research offered new insight for practitioners (i.e. top service managers) by suggesting that they may enhance female service managers' job performance if they pay more attention to employee creativity in service marketing.

• Journal of Distribution Science
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• v.13 no.4
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• pp.45-53
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• 2015

Purpose - Online shopping enables consumers to conveniently purchase products irrespective of the time and place. As a result, several online shopping companies have emerged to cater to this growing market and, therefore, the competition among them has become increasingly intense. This paper evaluates the comparative efficiency of online shopping companies for a multi-year period (2009-2013), in order to help online shopping managers identify major drivers for enhancing management efficiency and the subsequent competitiveness. Research design, data, and methodology - The researchers collected the data from 2009 to 2013 from the distribution yearbook. This paper analyzes the marketability (sales figures), profitability (business profits), and management conditions (net profits) of domestic online shopping enterprises by incorporating information on human resources (number of employees) and material resources (total assets and capital). Therefore, the number of employees, total assets, and capital are selected as input variables, and sales figures, business profits, and net profits as the output variables. In this study, Data Envelopment Analysis (DEA) was used to measure the comparative efficiency of domestic online shopping companies. In addition, the Malmquist Productivity Index was used to evaluate the trend of change of Decision Making Units' (DMUs') efficiency for a multi-year period. Results - First, as of 2013, Interpark (2.415) was found to be the most efficient online shopping enterprise, followed by Aladdin Communications (2.117), Hyundai Home shopping (1.867), Home&Shopping (1.176), NS Home shopping (1.170), Commerce Planet (1.126), CJ O Shopping (1.105), Ebay Korea (1.088), and GS Home Shopping (1.051). Second, this study recognizes how the management efficiency has changed for the period 2009-2013. Third, the lesser the capital and employees, the more are the net profits, and the better is the management efficiency of domestic online shopping companies. Lastly, the productivity of such companies is influenced by endogenous factors rather than exogenous factors such as shifts in business environment and technological advances. Conclusions - DHC Korea influenced various distribution channels to reach customers through the Internet. Consequently, this helped in increasing the awareness about its products, in addition to an increase in sales. These achievements can be attributed to the characteristics of online shopping companies. Although it is easy for these companies to suggest goods for one-off purchases, they however have difficulties in retaining customers. Overcoming this challenge can be one of the ways to benchmark a successful case of an efficient company. For example, an online shopping company can attract customers by developing a corresponding mobile application as a convenient way to shop online. Additionally, they can satisfy customers by quick delivery of purchased products, which is possible by building an effective logistics network. Our study indicates that the productivity of an online shopping company was influenced by endogenous factors driven by improvements in managerial practices rather than exogenous factors. Accordingly, online shopping companies should adopt strategies to improve their operational efficiency rather than sales volume-oriented management.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.28 no.1
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• pp.215-227
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• 2018

As Korea is rapidly becoming an IT powerhouse in the short term, various side effects such as cyber violence, personal information leakage and cyber terrorism are emerging as new social problems. Especially, the seriousness of leakage of personal information, which is the basis of safe cyber life, has been highlighted all over the world. In this regard, it is necessary to estimate the amount of the damage cost due to the leakage of personal information. In this study, we propose four evaluation methods to calculate the cost of damages due to personal information leakage according to average real transactions value, personally recognized value, compensation amount basis, and comparison to similar countries. We analyzed data from 2007 to 2016 to collect personal information leakage cases for 10 years and estimated the cost of damages. The number of cases used in the estimation is 65, and the total number of personal information leakage is about 430 million. The estimated cost of personal information leakage in 2016 was estimated to be at least KRW 7.4 billion, up to KRW 220 billion, and the 10 year average was estimated at from KRW 10.7 billion to KRW 307 billion per year. Also, we could find out the singularity that the estimated damage due to personal information leakage increases every three years. In the future, this study will be able to provide an index that can measure the damage cost caused by the leakage of personal information more accurately, and it can be used as an index of measures to reduce the damage cost due to personal information leakage.

• The Korean Journal of Franchise Management
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• v.3 no.1
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• pp.1-25
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• 2012

The studies of franchise companies are underway with the development of the franchise industry. Franchisor performance, franchisee performance, and relationship characteristics on performance, financial performance, non-financial performance, including research on the topic or purpose of the franchise performance and related discussions from a variety of perspectives have been proposed. Presented so comprehensive a discussion regarding the existing performance of the franchise and qualitative aspects such as satisfaction, long-term orientation to emphasize the limits. Therefore, this study was conducted by the franchise company's performance than the need to be clearly presented. Propose a quantifiable and quantified to reflect the characteristics of the franchise quantitative performance indicators. Franchise contract management systematically analyze the status of the enterprise contract management(ECM) and proposed contract management, leverage as an indicator for a more quantitative analysis. Contract management leverage is the franchise as an indicator of the merchant and the growth of the contract showing any significant changes in the coming changes in the Franchisee's sales growth target analysis results, notable implications could be found. This study are new methodology for the practical dimensions of performance of franchise companies.

• Asia Marketing Journal
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• v.13 no.4
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• pp.213-226
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• 2012

As the Korean rental car industry turned into a mature stage, the competition level has become stronger than ever. In 2006, AJ Rent a Car declared customer satisfaction management as its vision to make a breakthrough. Through various service innovation efforts, AJ has been successfully offering meaningful and differentiated values to the customers. As results, the complaints rate has decreased, while service quality index has significantly increased. These service quality indicators have led to improved customer satisfaction level which was measured by re-purchase intention and customer satisfaction index, and AJ outran its major competitors in these dimensions of competition. The first key success factor of AJ is its effective service system. AJ manages the VOC, ERP, and CRM system in a well organized manner. AJ's another key success factor is a effective service process, which helps the organization share and respond to customer complaints in an efficient way. Finally, the management communicates the clear vision and strategic direction not only with the customers but also with the entire organization. With these three factors combined, AJ has created the service oriented corporate culture. Based on the culture. AJ has been able to develop a strong and sustainable competitive advantage in customer satisfaction management.