• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.27-40
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• 2019

The study examines the effects of growth opportunities, debt maturity and liquidity risk on leverage, making use of a large panel of Chinese listed firms. Research on capital structure has broadened its scope from a single capital structure decision (the debt/equity choice) to various attributes of the debt in firms' capital structure. We use the system Generalized Method of Moments estimator to control for unobserved heterogeneity and the potential endogeneity of regressors. We find a negative relationship between growth opportunities and leverage. Further, we find that while the proportion of short-term debt attenuates the negative effect of growth opportunities on leverage, it negatively affects leverage as predicted by the liquidity risk hypothesis. When we distinguish between state owned firms and private controlled firms, we find evidence that these effects are only relevant to private controlled firms. However, our analysis indicates that the economic implication of liquidity risk effect is much lower for Chinese firms than that observed in the literature for US firms. Our study suggests that these differences can be explained by differences in the institutional environment in which firms operate. This finding related to Diamond's (1991) liquidity risk hypothesis extends our understanding of the relationship between liquidity risk and the debt maturity choice.

• Proceedings of the KSR Conference
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• 2009.05a
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• pp.1-5
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• 2009

Recently, as a method of green-development and reduction of carbon dioxide emission, increased interest has been focused on a railway. Furthermore, an intensive study has been processed on capabilities of maintenance activities, economic efficiency of maintenance on rail structure and a design of railway structure as well as the development of materials. The purpose of this paper is to develop a deteriorated model of PC Beam Bridge due to timely changes and maintenance activities. Typically, there is definite difference between maintained bridges and non-maintained bridges. As a result of proper maintenance activity, a life time of a structure can be enhanced. In this study, we will research and analyze structures with ongoing maintenance. We will also process same procedures on structures without maintenance. Therefore, we can establish the significant role in a conditional change of a structure. Based on a study, we accomplish the development of a condition-deteriorated model. To develop deteriorated model of PC Beam Bridge, We apply Marcov Theory and develop a transition probability to show the life time of bridge. This study will provide a great benefit to decision making for maintenance activities on the railway bridges for future.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.627-637
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• 2021

This research extends the literature on the effect of board characteristics and ownership structure on audit fees; these factors affect the firm's agency costs and how the auditor assesses various risks, hence the audit efforts and fees. The paper introduces political connections as a determinant of audit fees for the first time in Jordan, where the political connection is prevalent and affects decision making on the Jordanian boards. The sample consists of 109 manufacturing and service firms listed on the Amman Stock Exchange (ASE) over the years 2012-2019. Data is obtained from the ASE and the company's annual reports. Board characteristics are measured by board size, independence, leadership duality, meetings frequency, political connections, and audit committee. Ownership structure was measured by concentration, foreign ownership, and Institutional ownership. The study hypotheses were tested by using Generalized Least Squares regression. The Findings showed that larger boards, politically connected firms, and firms with leadership duality are more likely to pay higher fees. Besides, Firms with greater foreign ownership pay less fees, whereas the rest of the variables are insignificant. Results suggest that political connections play a major role in determining audit fees; this provides a recommendation to policymakers in Jordan to reconsider regulations regarding political connections.

• Korean Business Review
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• v.4
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• pp.355-383
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• 1991

1. The Purpose of This study research: The focus of marketing until recently has simply been on sales which means the transfer of goods from the producer to the consumer and on profits therefrom. However, the excess supply of goods due to the expansion of the economy and the resulting fierce competition between companies have changed the nature of marketing. Maximizing consumers' satisfaction and establishing marketing mix strategies for market subdivision and penetration into the target market are now significant roles of the marketing manager. In addition, with regard to company management, information within the company which had been collected, managed and processed sporadically indegrated manner. The purpose of this research on marketing information systems in connection with the above will be to seek ways enabling us to create an efficient and integrated information system for an entire company. 2. The Method and Scop of This Stdudy: Marketing information systems, as a part of management information systems, shall be examined based on relevant theoretical literature. The research process shall be generally developed as follows: 1) The basic structure of the marketing information systems, including its fundamental purpose and necessity, shall be examined. 2) The method for a specific plan shall be presented through fundamental marketing strategy concepts and marketing decision-making. 3) A general model shall be presented based on examinations of various mod els used for marketing information systems and on research of the models' relationship with management information systems. 4) The direction of development shall be presented as the basis for gradual development following examination of the scope, pertinent issues, and means of improvement of the marketing information systems. 3. Summary and Conclusion: As the competition among the enterprises has become keen and thus the management of the contemporary enterprises shows the tendencies of uncertainty as well as complexity, all the managers must make the correct and prompt decision of their mind. Otherwise, the danger which will lead to and failure in the failure in the business may befall to the enterprise. Though computer system and information related techniques have the endless potentiality for the improvement of the enterprise, those are granted only to the enterprise which will be able to manage the computer system and information related techniques. In the contemporary industrial society, the need to a managerial information system has been increasing because all the complicated information can be stored, disposed and managed by the efficient method. And the marketing information system is also the integrated system which has been formed and developed through the efficient mixture of all the constituent elements including the definition of marketing research as the definition of the information system has been enlarged due to the reason shown above. The common point of the two systems is the man machine system functioning to help the efficient decision of the mind by introducing the computer system on the basis of user manager centered thought in order to provide informations to be useful in operation and management of the organization and the function of the mind decision. The purpose for the marketing information system lies in making the utmost use of marketing information available in the course of the mind decision. The reason why the contemporary enterprises necessitate the marketing information system are as follows: 1) The stages of the business operation are expanded wide to the world. 2) As the living standards of the consumers have been on the rise, the enter prise has to satisfy the consumer's "wants" than simple "needs".

• Journal of KIISE:Computing Practices and Letters
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• v.12 no.4
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• pp.264-274
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• 2006

Recently, a variety of organizations including enterprises tend to try to use reporting tools as a data analysis tool for decision making support because reporting tools are capable of formatting data flexibly. Traditional reporting tools have thin-client structure in which all of dynamic documents are generated in the server side. This structure enables reporting tools to avoid repetitive process to generate dynamic documents, when many clients intend to access the same dynamic document. However, generating dynamic documents for data analysis doesn't consider a number of potential readers and increases requests to the server by making clients input various parameters at short intervals. In the structure of the traditional reporting tools, the increase of these requests leads to the increase of processing load in the server side. Thus, we present the reporting tool that can generate dynamic documents at the client side. This reporting tool has a processing mechanism to deal with a number of data despite the limited memory capacity of the client side.

• Journal of Mechanical Science and Technology
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• v.20 no.11
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• pp.1863-1872
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• 2006

In FMS (Flexible Manufacturing System) and CIM (Computer Integrated Manufacturing), machine-tools have been the target of integration in the last three decades. The conventional concept of integration is being changed into the autonomous manufacturing device based on the knowledge evolution by applying advanced information technology in which an open architecture controller, high-speed network and internet technology are included. In the advanced environment, the machine-tools is not the target of integration anymore, but has been the key subject of cooperation. In the near future, machine-tools will be more improved in the form of a knowledge-evolutionary intelligent device. The final goal of this study is to develop an intelligent machine having knowledge-evolution capability and a management system based on internet operability. The knowledge-evolutionary intelligent machine-tools is expected to gather knowledge autonomically, by producing knowledge, understanding knowledge, reasoning knowledge, making a new decision, dialoguing with other machines, etc. The concept of the knowledge-evolutionary intelligent machine is originated from the machine control being operated by human experts' sense, dialogue and decision. The structure of knowledge evolution in M2M (Machine to Machine) and the scheme for a dialogue agent among agent-based modules such as a sensory agent, a dialogue agent and an expert system (decision support agent) are presented in this paper, with intent to develop the knowledge-evolutionary machine-tools. The dialogue agent functions as an interface for inter-machine cooperation. To design the dialogue agent module in an M2M environment, FIPA (Foundation of Intelligent Physical Agent) standard platform and the ping agent based on FIPA are analyzed in this study. In addition, the dialogue agent is designed and applied to recommend cutting conditions and thermal error compensation in a tapping machine. The knowledge-evolutionary machine-tools are expected easily implemented on the basis of this study and shows a good assistance to sensory and decision support agents.

• Proceedings of the Korea Information Processing Society Conference
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• 2012.11a
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• pp.450-451
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• 2012

The need of Clinical Decision Support System (CDSS) in healthcare setup is increasing day by day. EHR Meaningful Use advocates CDSS as an important component of EHR/EMR systems. CDSS can be ranged from a simple to a very sophisticated system. The more complex CDSS systems need more attention to develop because of many reasons including its Knowledge Base (KB) structure/maintenance/evolution, inference capabilities and usability. Above all the KB maintenance and evolution is very crucial and important from the perspective of useful decision capabilities. Also the richness of the KB is important to cover the decision gaps handling a particular situation in the course of patient care. It cannot be expected from the clinicians to remember everything in regard to patient diagnosis and treatment. Similarly, it is also crucial for clinicians to keep themselves updated with the new research in the area. That is the reason they frequently require accessing to the online knowledge resources. Literature proved that online knowledge resources are capable providing answers to questions that might not be answered rely only on clinician wisdom and experience. This paper provides the theme of meaningful utilization of online knowledge resources in the context of diagnosis and treatment process for cancer patients more specifically Head and Neck cancer.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.21-30
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• 2016

The current PF project is entirely relying on construction company's credibility. As such, it has increased a negative and bad recognition in domestic real estate economy. In addition, PF experts has a perception that a project's safety of future cash flow profitability is more important than the construction company's credibility. So many PF experts make an effort in order to set aside safe project structure of PF and analyse systematically the risks of the project. In common feasibility study of the PF Project, financial specialists and real estate specialists are forecasting and evaluating the suitability of the project through reviewing the development profit from the project of sales. However, cash flow analysis and evaluation from the perspective of mid-sized construction companies are still in the primary level. Therefore, this study has analysed the current feasibility study and go/no go decision making procedures. Then the authors have a new cash flow analysis method from the perspective of mid-sized construction companies, by improving the feasibility study and go/no go decision making procedures.

• Journal of Distribution Science
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• v.13 no.7
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• pp.63-71
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• 2015

Purpose - The characteristics of the modern management environment in Korea clearly involve the limitations of knowledge management, globalization, changes in industrial structures, polarization of the economy, consumption, and education, and the demand for creative management. To achieve a continuous competitive advantage for individuals as well as organizations, Wisdom Management can be said to be a paradigm for the current environment. The Research is an alternative to environmental management in the early study of the need to conceptualize the theoretical approach to wisdom management. In other words, it presents a new management paradigm for a business environment of uncertainty and unpredictability. Furthermore, it aims to propose Wisdom Management as an alternative in the modern management environment as well as a topic of discourse. Its purpose is to provide basic knowledge to people who study and practice in this field to strengthen the competitiveness of individuals and companies. Research design, data, and methodology - This paper first provides six characteristics of the current management environment at home and abroad. It then attempts to emphasize the necessity of wisdom based on such characteristics by classifying wisdom according to recent management study research. This allows the derivation of definitions of wisdom management, suggesting its components and properties. Results - The six characteristics of the modern business environment are: 1) limits of knowledge, 2) intensifying globalized competition, 3) changes in industry structure - IoT (Internet of all Things) trend, 4) serious polarization and social unrest diffusion, 5) personal and organizational competitiveness creativity requirements, and 6) domestic special national and social situations. Therefore, accordingly, wisdom can be defined and classified as: wisdom that offers potential integration beyond knowledge, practicing and maintaining knowledge wisdom as an efficient strategy for an organization wisdom as a decision-making process that addresses ambivalence wisdom as the pursuit of common goods based on ethics; and, wisdom as creativity that involves intuition and insight. This paper attempts to define Wisdom Management in accordance with these definitions of wisdom. Wisdom Management is a management system that is awareof the current environment given in the multidimensional perspective, achieves the efficiency of the organization and the goals of common good through an uncertain decision-making process, based on the organization of individual and organizational knowledge, and the internal experiences and resources. Wisdom Management components include human beings, virtue, knowledge, creativity, and ambivalent thinking. Its properties include intentionality, self-destructiveness, creative and ethical reflexivity, complexity, insight, unpredictability, ambivalence, and wholeness. Conclusions - Since all organizations face the limitations of their environment, crises, and opportunities, applying wisdom in management to develop as Wisdom Management can be an inevitable alternative to the uncertainties of the management environment faced by modern society. The conceptualization of Wisdom Management forms a valuable context to further advance knowledge management theory into practice. It is also a cornerstone of strategic management and can provide insight into its potential for success and implementation.

• Journal of the Korean Regional Science Association
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• v.37 no.1
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• pp.45-61
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• 2021

This research purposes to design a methodological framework to suggest the optimal method to resolve the conflicts of stakeholders surrounding the water use charge of the Han River region, and to use the analysis results to provide the direction of policy. For this, it was preceded that the process of understanding the mechanisms of the multifaceted conflict between decision makers taking different positions over water use charge of the Han River region, and an optimal method to resolve the conflict of water use charge of the Han River region was derived by using a graph model for conflict resolution(GMCR). According to the analysis results, the optimal state to find a solution to the water use charge of the Han River is that the Seoul-Incheon-Gyeonggi region pays the charge according to the original rate while Seoul-Incheon requesting discount the water use rate. In addition, the Han River management committee should establish policies desired by Seoul-Incheon-Gyeonggi region including rationalization of the decision-making structure to determine the rate of water use charge, making the basis to support the Han River management fund system for the Seoul-Incheon region, and transparent management of the Han River management fund system considering the characteristics of beneficiary regions and residents. This study is expected to provide objective decision-making information in establishing environmental policy directions related to conflict resolution in the water use charge of the Han River region and to offer a methodological basis for similar follow-up studies related to conflicts derived from sharing nature environment.