• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.4
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• pp.67-80
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• 2015

Although recent policies and regulations in Korea strongly advocate and encourage cultivation of venture foundations, studies on venture foundation and success are very limited and often primarily focus on entrepreneurship or individual quality as a venture founder in addition to such studies' validity in question. Therefore, this study primarily focuses on venture preparation process which is subject to venture founder's effort to verify the policy effectiveness in the relationship between venture preparation and business performance. Major goal of this study is to reduce social cost of venture failure by suggesting systematic policy support for venture foundations and analyzing the relationship between following variables: first, venture preparation and financial performance, second, venture preparation and non-financial performance, and third, venture preparation and business performance. 400 initial venture foundations less than 5 years are selected from KISED(Korea Institute Startup & Entrepreneurship Development) trend analysis to carry out statistical analysis using SPSS 18.0. To organize the data features, frequency analysis as well as descriptive statistics are performed to verify the hypothesis. As a result, sub-factors in measurement of venture preparation which are venture education period, venture benefit, and experience of incubating organization are selected as independent variables. Likewise, sub-factors in measurement of business performance which are financial performance and non-financial performance are used as dependent variables. To validate interactive effect, venture preparation period is selected as control variable to perform hierarchical regression analysis. The analysis result verifies that venture benefit has positive influence on financial and non-financial performance while venture education period has positive influence on non-financial influence and experience of incubating organization has negative influence on non-financial performance without influence on financial performance. In addition, interaction of venture preparation period has positive influence solely between venture benefit and non-financial performance. Through this study, appropriate supporting plans depending on the level of venture preparation can be derived to improve business performance of initial venture foundations for policy designer of venture support, and quality rather than quality improvement of venture businesses is possible through investigation of structural issues of individual venture businesses. Ultimately, this study suggests venture founders to determine whether to focus on venture preparation process or to start a venture business.

• 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.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.95-116
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• 2009

Increasingly the institutional theory has been an important theoretical view of decision making process and IT adoption in many academic researches. This study used the institutional theory as a lens through which we can understand the factors that enable the effective appropriation of advanced information technology. It posits that mimetic, coercive, and normative pressures existing in an institutionalized environment could influence the participation of top managers or decision makers and the involvement of users toward an effective use of IT in their tasks. Since the introduction of IT, organizational members have been using IT in their daily tasks, creating and recreating rules and resources according to their own methods and needs. That is to say, the adaptation process of the IT and outcomes are different among organizations. The previous studies on a diverse use of IT refer to the appropriation of technology from the social technology view. Users appropriate IT through not only technology itself, but also in terms of how they use it or how they make the social practice in their use of it. In this study, the concepts of institutional pressure, appropriation, participation of decision makers, and involvement of users toward the appropriation are explored in the context of the appropriation of the mobile electronic medical record system (M-EMRS) in particularly a hospital setting. Based on the conceptual definition of institutional pressure, participation and involvement, operational measures are reconstructed. Furthermore, the concept of appropriation is measured in the aspect of three sub-constructs-consensus on appropriation, faithful appropriation, and attitude of use. Grounded in the relevant theories to appropriation of IT, we developed a research framework in which the effects of institutional pressure, participation and involvement on the appropriation of IT are analyzed. Within this theoretical framework, we formulated several hypotheses. We developed a second order institutional pressure and appropriation construct. After establishing its validity and reliability, we tested the hypotheses with empirical data from 101 users in 3 hospitals which had adopted and used the M-EMRS. We examined the mediating effect of the participation of decision makers and the involvement of users on the appropriation and empirically validated their relationships. The results show that the mimetic, coercive, and normative institutional pressure has an effect on the participation of decision makers and the involvement of users in the appropriation of IT while the participation of decision makers and the involvement of users have an effect on the appropriation of IT. The results also suggest that the institutional pressure and the participation of decision makers influence the involvement of users toward an appropriation of IT. Our results emphasize the mediating effect of the institutional pressure on the appropriation of IT. Namely, the higher degree of the participation of decision makers and the involvement of users, the more effective appropriation users will represent. These results provide strong support for institutional-based variables as predictors of appropriation. These findings also indicate that organizations should focus on the role of participation of decision makers and the involvement of users for the purpose of effective appropriation, and these are the practical implications of our study. The theoretical contribution of this study is lies in the integrated model of the effect of institutional pressure on the appropriation of IT. The results are consistent with the institutional theory and support previous studies on adaptive structuration theory.

• Asia pacific journal of information systems
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• v.19 no.2
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• pp.157-178
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• 2009

Corporate credit rating is a very important factor in the market for corporate debt. Information concerning corporate operations is often disseminated to market participants through the changes in credit ratings that are published by professional rating agencies, such as Standard and Poor's (S&P) and Moody's Investor Service. Since these agencies generally require a large fee for the service, and the periodically provided ratings sometimes do not reflect the default risk of the company at the time, it may be advantageous for bond-market participants to be able to classify credit ratings before the agencies actually publish them. As a result, it is very important for companies (especially, financial companies) to develop a proper model of credit rating. From a technical perspective, the credit rating constitutes a typical, multiclass, classification problem because rating agencies generally have ten or more categories of ratings. For example, S&P's ratings range from AAA for the highest-quality bonds to D for the lowest-quality bonds. The professional rating agencies emphasize the importance of analysts' subjective judgments in the determination of credit ratings. However, in practice, a mathematical model that uses the financial variables of companies plays an important role in determining credit ratings, since it is convenient to apply and cost efficient. These financial variables include the ratios that represent a company's leverage status, liquidity status, and profitability status. Several statistical and artificial intelligence (AI) techniques have been applied as tools for predicting credit ratings. Among them, artificial neural networks are most prevalent in the area of finance because of their broad applicability to many business problems and their preeminent ability to adapt. However, artificial neural networks also have many defects, including the difficulty in determining the values of the control parameters and the number of processing elements in the layer as well as the risk of over-fitting. Of late, because of their robustness and high accuracy, support vector machines (SVMs) have become popular as a solution for problems with generating accurate prediction. An SVM's solution may be globally optimal because SVMs seek to minimize structural risk. On the other hand, artificial neural network models may tend to find locally optimal solutions because they seek to minimize empirical risk. In addition, no parameters need to be tuned in SVMs, barring the upper bound for non-separable cases in linear SVMs. Since SVMs were originally devised for binary classification, however they are not intrinsically geared for multiclass classifications as in credit ratings. Thus, researchers have tried to extend the original SVM to multiclass classification. Hitherto, a variety of techniques to extend standard SVMs to multiclass SVMs (MSVMs) has been proposed in the literature Only a few types of MSVM are, however, tested using prior studies that apply MSVMs to credit ratings studies. In this study, we examined six different techniques of MSVMs: (1) One-Against-One, (2) One-Against-AIL (3) DAGSVM, (4) ECOC, (5) Method of Weston and Watkins, and (6) Method of Crammer and Singer. In addition, we examined the prediction accuracy of some modified version of conventional MSVM techniques. To find the most appropriate technique of MSVMs for corporate bond rating, we applied all the techniques of MSVMs to a real-world case of credit rating in Korea. The best application is in corporate bond rating, which is the most frequently studied area of credit rating for specific debt issues or other financial obligations. For our study the research data were collected from National Information and Credit Evaluation, Inc., a major bond-rating company in Korea. The data set is comprised of the bond-ratings for the year 2002 and various financial variables for 1,295 companies from the manufacturing industry in Korea. We compared the results of these techniques with one another, and with those of traditional methods for credit ratings, such as multiple discriminant analysis (MDA), multinomial logistic regression (MLOGIT), and artificial neural networks (ANNs). As a result, we found that DAGSVM with an ordered list was the best approach for the prediction of bond rating. In addition, we found that the modified version of ECOC approach can yield higher prediction accuracy for the cases showing clear patterns.

• Information Systems Review
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• v.18 no.2
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• pp.79-106
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• 2016

Service innovation is one means of gaining an advantage in a highly competitive environment. Although numerous studies have stressed the importance of service innovation, traditional good-dominant logic is still used in service innovation literature. Furthermore, few studies have been conducted on the link between service innovation and its antecedents in terms of service-oriented approach. To fill the gap, this article theoretically and empirically examines service innovation and its antecedents and consequences. Based on service-dominant logic and resource advantage theory, the current study aims to understand the effect of antecedents on service innovation as well as to identify the effect of service innovation on firm performance (i.e., non-financial and financial performance). Three service innovation activities, namely service creation-focused innovation, service delivery-focused innovation, and customer interaction-focused innovation, and four antecedents of service innovation, including human resource management capability, collaboration capability, marketing capability, and information technology capability, are identified based on Den Hertog (2000)'s service innovation framework. By using the empirical data collected from 189 service firms in Korea, this study explores the causal relationship among antecedents, service innovation and firm performance. Findings indicate that human resource management and marketing capabilities influence the three types of service innovation, whereas collaboration and information technology capabilities have a significant effect on both service creation-focused innovation and service delivery-focused innovation. In particular, human resource management capability is strongly related to customer interaction-focused innovation. The three types of service innovation have a positive influence on non-financial performance, whereas service delivery-focused innovation and customer interaction-focused innovation positively influence financial performance. These results support the crucial effects of antecedents, such as human resource management, collaboration, marketing and information technology capabilities, on service innovation.

• Asia pacific journal of information systems
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• v.18 no.1
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• pp.25-51
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• 2008

Researchers have been continuously interested in the adoption of information technology (IT) since it is of great importance to the information systems success and it is also an important stage to the success. Adoption alone, however, does not ensure information systems success because it does not necessarily lead to achieving organizational or individual objectives. When an organization or an individual decide to adopt certain information technologies, they have objectives to accomplish by using those technologies. Adoption itself is not the ultimate goal. The period after adoption is when users continue to use IT and intended objectives can be accomplished. Therefore, continued IT use in the post-adoption period accounts more for the accomplishment of the objectives and thus information systems success. Previous studies also suggest that continued IT use in the post-adoption period is one of the important factors to improve long-term productivity. Despite the importance there are few empirical studies focusing on the user behavior of continued IT use in the post-adoption period. User behavior in the post-adoption period is different from that in the pre-adoption period. According to the technology acceptance model, which explains well about the IT adoption, users decide to adopt IT assessing the usefulness and the ease of use. After adoption, users are exposed to new experiences and they shape new beliefs different from the thoughts they had before. Users come to make decisions based on their experiences of IT use whether they will continue to use it or not. Most theories about the user behaviors in the pre-adoption period are limited in describing them after adoption since they do not consider user's experiences of using the adopted IT and the beliefs formed by those experiences. Therefore, in this study, we explore user's experiences and beliefs in the post-adoption period and examine how they affect user's intention to continue to use IT. Through deep literature reviews on the construction of subjective beliefs by experiences, we draw three meaningful constructs which theoretically have great impacts on the continued use of IT: perceived habit, confirmation, and computer self-efficacy. Then, we examine the role of the subjective beliefs on the cognitive/affective attitudes and intention to continue to use that IT. We set up a research model and conducted survey research. Since IT use implies interactions among a user, IT, and a task, we carefully selected the sample of users using same/similar IT to perform same/similar tasks, to exclude unwanted influences of other factors than subjective beliefs on the IT use. We also considered that the sample of users were able to make decisions to continue to use IT volitionally or at least quasi-volitionally. For each construct, we used measurement items recognized for reliability and widely used in the previous research. We slightly modified some items proper to the research context and a pilot test was carried out for forty users of a portal service in a university. We performed a full-scale survey after verifying the reliability of the measurement. The results show that the intention to continue to use IT is strongly influenced by cognitive/affective attitudes, perceived habits, and computer self-efficacy. Confirmation affects the intention to continue indirectly through cognitive/affective attitudes. All the constructs representing the subjective beliefs built by the experiences of IT use have direct and/or indirect impacts on the intention of users. The results also show that the attitudes in the post-adoption period are formed, at least partly, by the experiences of IT use and newly shaped beliefs after adoption. The findings suggest that subjective beliefs built by the experiences have deep impacts on the continued use. The results of the study signify that while experiencing IT in the post-adoption period users form new beliefs, attitudes, and intentions which may be different from those of the pre-adoption period. The results of this study partly demonstrate that the beliefs shaped by the behaviors, those are the experiences of IT use, influence users' attitudes and intention. The results also suggest that behaviors (experiences) also change attitudes while attitudes shape behaviors. If we combine the findings of this study with the results of the previous research on IT adoption, we can propose a cycle of IT adoption and use where behavior shapes attitude, the attitude forms new behavior, and that behavior shapes new attitude. Different from the previous research, the study focused on the user experience after IT adoption and empirically demonstrated the strong influence of the subjective beliefs formed in the post-adoption period on the continued use. This partly confirms the differences between attitudes in the pre-adoption and in the post-adoption period. Users continuously change their attitudes and intentions while experiencing (using) IT. Therefore, to make users adopt IT and to make them use IT after adoption is a different problem. To encourage users to use IT after adoption, experiential variables such as perceived habit, confirmation, and computer self-efficacy should be managed properly.

• Journal of the Korean Geographical Society
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• v.42 no.1 s.118
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• pp.133-155
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• 2007

The sustainable urban development has emerged as a new paradigm of urban studies in recent years. A review of the literature of land use and transport policies in relation to sustainable development reveals a consensus that the main objectives of sustainable strategy should decrease the numbers and length of journeys, and change the land use pattern towards mixed use and high density. However, there is a lack of empirical research as to what types of policies might influence effectively the reduction in the energy consumption and emission of $CO_2$. in order to sustain urban development. This paper tries to construct the conceptual structure of the PSS(planning support system), which is designed to the simulation of the probable effects of policies and planning of different kinds in cities, and evaluate the sustainablilty level according to construct the structure of the PSS(planning support system), which is designed to the simulation of the probable effects of policies and planning of different kinds in cities, and evaluate the sustainablilty level according to the alternative scenarios. The PSS is composed of three components (input-modeling-output). The core of PSS is integrating land use-transport-environment modeling. The advantages of integrating land use-transport-environment modeling are well known, but there are very few such integrated modeling packages in practice. So this paper tries to apply TRANUS software, which is an integrated land use and transport model. The TRANUS system was calibrated to city of Yongin for the base year. The purpose of the application of TRANUS to Yongin is to examine the operability of TRANUS system in Korea. From the outputs and results of operating the system, TRANUS may be effectively used to evaluate the effects of alternative sustainable urban development policies, since sustainablilty indicators can be extracted from several aspects such as land use consumption, total trips, distance and cost, energy consumption, ratio of transport split.

• Journal of the Korean association of regional geographers
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• v.5 no.2
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• pp.1-14
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• 1999

In the course of modernization and globalization, each region in Korea has experienced deep subordination to the center of Seoul and the increase of colonization possibility by world capital. In order to overcome the current situation, above all, the strategies should be developed focusing on daily life and life space. The basis for the development of strategies is the establishment of regional identity on life space. It is because of the reason that life space, or small-scale region has drawn wide attention in the research of geography in recent years. Especially, humanistic geography and new regional geography have developed the concerning theory and methodology, and kept going on the research of small-scale regions. Generally speaking, there have been quite large amount of theoretical discussions on small-scale region in recent years in the field of geography. Empirical researches focusing on a particular small-scale region, however, have been rarely made. It seems related to the deficiency of data materials and the obscurity of research framework of small-scale regional geography. A community paper must be very helpful for the geographic research on small-scale region. As community paper is published based on county('gun'), small or mid-size city('si'), or district of large city('gu'), it deals with small news and daily life information closely attached to the region. Accordingly, it functions as a medium of the formation of regional identity. It is also a valuable source material for the validation of regional identity and for the analysis of identity-shaping mechanism. The geographic interests in community paper, first of all, should be taken shape by the work on the geographical distribution and the periodic change of publication situation of community papers in Korea. Another research subject on community paper is the examination of characteristics of the region by analyzing the news and the advertisements. The news in community paper must be a valuable data source of regional studies in geography. Also, the regional identification process of community people through the community paper could be and should be explored, and how the regional centrality, or self-generation based on the identity is achieved will be an important subject.

• Journal of Global Scholars of Marketing Science
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• v.11
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• pp.147-163
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• 2003

Recently it is necessary that Hotel business introduce Information Technology to enhance competitive advantage and cope with changeable business promptly in management. Thus in an effort of using Information Technology strategically, Many Hotel business tries to install CRM system (Customer Relationship Management). This study tries to analyze the effects on customer performance by installing CRM system if it is in charge of major strategic system, it can get successful customer performance. I hypothesize to resolve the problem, and search preceding study results concerning the elements of CRM Installment and Customer performance. The survey was taken to emplyees in the field of CRM installment in Luxury hotel to test the hypothesis. To summarize the results, first, CRM intallment affects CRM customer performance. in short, systematic feature, management environment, information intention, and technologic element affect it. Through this study, facing the limitation and future study are below. first, additional parameter should be considered though I reviewed the elements affecting CRM customer performance by searching and abstracting preceding studies. Second, There are lack of preceding studies because it has passed only a couple of years since Korean businesses deal with CRM system and there is the limitation to compare this result with others due to few empirical analysisses. Especilly, I can hardly find the preceding study concerning hotel industry but tries to search preceding parameter as to the customer performance of CRM system. Until now, It is needed to continual study its measurement later. I believe that more specific study and precise theoretical test be performed and they deal with current CRM system installment and facing problems in all of the korean hotels.

• Journal of agricultural medicine and community health
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• v.28 no.1
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• pp.1-13
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• 2003

Objectives: The purpose of this study is to summarize results from 11 domestic studies about sick role behavior applied health belief model and to assess the effectiveness of components on behavior change by using meta-analysis. Methods: We collected the existing literatures by using major web search of 'pulmonary tuberculosis patients', 'health belief model', and 'sick role behavior' as key words and by reviewing content of journals. Quantitative meta-analysis was performed by SAS program. Results: Among 66 articles, 11 studies were selected for quantitative meta-analysis. The knowledge level about pulmonary tuberculosis had more effect for only sick role behavior as general characterisitcs(d=0.7870). All the components of health belief model produced significant effects on sick role behavior with the magnitude of effect size from 0.31 to 0.73. The largest effects were benefits on actions of sick role behavior. Conclusions: Overall, these investigation provide very substantial empirical evidence supporting health belief model dimensions as important contributors to the explanation and prediction of sick role behavior among the type of health related behavior in pulmonary tuberculosis patients. Strategic intervention including health education, etc. based on health belief model showed clear advantage in improvement of behavioral change.