• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.76-94
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• 2008

This paper investigates performance of the Markowitz's portfolio selection model with applications to Korean stock market. We choose Samsung-Group-Funds and KOSPI index for performance comparison with the Markowitz's portfolio selection model. For the most recent one and a half year period between March 2007 and September 2008, KOSPI index almost remains the same with only 0.1% change, Samsung-Group-Funds shows 20.54% return, and Markowitz's model, which is composed of the same 17 Samsung group stocks, reaches 52% return. We perform sensitivity analysis on the duration of financial data and the period of portfolio change in order to maximize the return of portfolio. In conclusion, according to our empirical research results with Samsung-Group-Funds, investment by Markowitz's model, which periodically changes portfolio by using nonlinear programming with only financial data, outperforms investment by the fund manager who possesses rich experiences on stock trading and actively changes portfolio based on minute-by-minute market news and business information.

• Journal of Information Technology Services
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• v.16 no.1
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• pp.83-98
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• 2017

Broadcasting telecommunication convergence service means a service where broadcasting and telecommunication converge. Recently with the advancement of technology, broadcasting telecommunication convergence service has been evolving to provide multimedia contents through various devices including wired and wireless network environment. Up to now, IPTV and smartphone-based convergence services have been dominant, but more developed and evolved technology and media will appear in the future. In order to derive the next generation broadcasting telecommunication convergence service supporting model, this study derives an evaluation model of broadcasting telecommunication convergence service and presents a case of evaluation of 30 demonstration projects supported by the Korean government from 2010 to 2014. In this study, we derive an evaluation model and evaluate the demonstration projects by reflecting the position of the main stake holders of service such as users, experts, and related organizational institutions, away from the existing simple service evaluation method. Expert questionnaire used AHP (Analytic Hierarchy Process) method, and the evaluation results were divided into upper and lower groups to provide key implications by a gap analysis. From this analysis this study suggests guidelines for next generation broadcasting telecommunication service support projects. The next generation broadcasting convergence service business should be based on open platform type in terms of service type. In terms of service media, it should be centered on open devices such as smart phones and smart TVs. In terms of types of business responsibilities, it should be led by public organizations and it is necessary to increase the fund matching ratio by at least 62% when the private sector participates.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.135-154
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• 2020

This paper analyzes the 5,521 samples of the small and medium-sized businesses(SMBs) obtained from the Korea Credit Guarantee Fund. From January 2014 to September 2019, 85% of the SMBs have 5 or fewer full-time employees. The proportion of SMBs is overwhelmed by the elderly men, and most founders are the CEO. Also, about 87% of the workplace types are rented, while 64% of the CEO's residence types are owner-occupation. 47% of the financial grade score is less than 10 points out of 100 and 80% of SMBs have less than 200 million won of the loan guarantee. In particular, the total guarantee loan amount or the days of net guarantee have significantly positive relations with the working period of the CEO in the same industry, the number of employees, the operation period of SMBs, and the corporate business type. In the case of the financial grading score which has the highest weight in overall credit rating gets higher with the higher number of employees, the longer the operation period, and the corporate business type. However, the quantified non-financial grading score has no significant relationship with other explanatory variables, except for the corporate business type. This implies that a non-financial grade score is measured by other determinants that are not observed by the Korea credit guarantee fund. The pure non-financial grade score has positive relations with the working period of the CEO. Overall, this paper would help Korean SMBs upgrade their credit ratings and expand the money supply when there is no standardized credit rating model or no publicly available evaluation criteria for SMBs. We expect this paper provides important insights for further research and policy-makers for SMBs. In particular, to address the financial needs of thin-filers such as SMBs, technology-based financial services (TechFin) would use alternative data to evaluate the financial capabilities of thin-filers and to develop new financial services.

• Asia-Pacific Journal of Business
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• v.6 no.2
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• pp.1-17
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• 2015

This study compares the most widely used parametric and non-parametric techniques to measure cost and profit efficiency of banks, namely the Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA). We formulate the specification form of both stochastic cost and profit frontier models and constant return to scale Cost DEA and Profit DEA models and provide an empirical assessment of the cost and profit frontiers based on a panel dataset of National Commercial Banks (NCBs) and Private Banks (PBs) in Bangladesh over the 2001-2010 period. The cost inefficiency and profit efficiency are slightly higher for PBs than NCBs in case of both SFA and DEA. The coefficients of advance and off-balance sheet items are significant that positively influence the banks in stochastic cost frontier model while the advance, other earning assets, price of borrowed fund are significant and negative effects on the banks in stochastic profit frontier model. The average cost inefficiency and average profit efficiency are recorded with 16.3% and 91% respectively. The highest and lowest cost inefficiency are observed for Janata Bank and United Commercial Bank Limited whilst the highest and lowest profit efficiency are recorded for Eastern Bank Limited and Janata Bank respectively. The average technical and allocative efficiency are 68.8% and 35.9%, respectively in case of CRS cost-DEA model whereas they are 70.3% and 31.8% in case of CRS profit-DEA model. The average cost inefficiency is recorded 6.3% by SFA whereas it is 24.5% by DEA. The average profit efficiency is found 91% by SFA while it is 22.1% by DEA, and SFA method shows better bank efficiency than DEA.

• Korean Journal of Construction Engineering and Management
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• v.11 no.1
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• pp.113-121
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• 2010

Since the cut-down of the purchasing price of the feed in tariff(FIT) in 2008, the numbers of photovoltaic projects get decreased, contrary to investment expansion policy of government on renewable energy. The root cause of the decrease is the irrationality of the current purchasing price structure of FIT as well as the adversity of fund raising due to the global financial crisis. This study proposes the FIT calculating model (Cost & Benefit Risk Based Purchase Price Process : CBRP3) reflecting the fluctuation of cost and benefit risks. The first step is to establish the photovoltaic generation alternatives, and to calculate each distribution data of the investment and the power generation quantity. The FIT for each alternative is, then, assessed through simulations. Finally the proposed FIT scheme is compared to the present FIT scheme and future study subjects are derived.

• Journal of the Korea Safety Management & Science
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• v.16 no.2
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• pp.217-230
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• 2014

The purpose of this study is to develop the Generalized Depreciation Function (GDF) and Winfrey Depreciation Function (WDF) by reviewing methods for the depreciation accountings. The Depreciation Accounting Models (DAM), including straight-line model, declining-balance model, sum-of-the-year-digit model and sinking fund model presented in this paper, are reclassified into the charging pattern of increasing type, decreasing type and constant type. This paper also discusses the development of the GDFs based on convex type, concave type and constant type according to the demand pattern of product, frequency of plant usage, deterioration of time, relative inadequacy, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) of the Total Productive Maintenance (TPM). The WDFs presented in this paper depict a sudden degradation of plant performance by measuring the change of TPM activity at the midpoint of useful life of asset. The WDFs are classified into left-modal type, symmetrical type and right-modal type by varying the value of skewness and kurtosis. Moreover, three increasing patterns, such as convex, concave and linear types, are used in this paper to present the distinct identification of WFDs by using Instantaneous Depreciation Rate (IDR) in terms of Performance Depreciation Function (PDF) and Depreciation Density Function (DDF). In order to have better understanding of depreciation models, the numerical examples are used for evaluating the Net Operating Less Adjusted Tax (NOPLAT) and Economic Value Added (EVA). It is concluded that the depreciation models showing a large dispersion of EVA require the adjustment of NOPLAT and Invested Capital (IC) based on the objective cash basis and net operating activity for reducing the variation of EVA.

• Journal of radiological science and technology
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• v.45 no.2
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• pp.111-116
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• 2022

In this study, the applicability of machine learning for the development of a simulator for general X-ray examination education is evaluated. To this end, k-nearest neighbor(kNN), support vector machine(SVM) and neural network(NN) classification models are analyzed to present the most suitable model by analyzing the results. Image data was obtained by taking 100 photos each corresponding to Posterior anterior(PA), Posterior anterior oblique(Obl), Lateral(Lat), Fan lateral(Fan lat). 70% of the acquired 400 image data were used as training sets for learning machine learning models and 30% were used as test sets for evaluation. and prediction model was constructed for right-handed PA, Obl, Lat, Fan lat image classification. Based on the data set, after constructing the classification model using the kNN, SVM, and NN models, each model was compared through an error matrix. As a result of the evaluation, the accuracy of kNN was 0.967 area under curve(AUC) was 0.993, and the accuracy of SVM was 0.992 AUC was 1.000. The accuracy of NN was 0.992 and AUC was 0.999, which was slightly lower in kNN, but all three models recorded high accuracy and AUC. In this study, right-handed PA, Obl, Lat, Fan lat images were classified and predicted using the machine learning classification models, kNN, SVM, and NN models. The prediction showed that SVM and NN were the same at 0.992, and AUC was similar at 1.000 and 0.999, indicating that both models showed high predictive power and were applicable to educational simulators.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.11-19
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• 2013

In this study, we analyze how the difficulties of e-learning firms' management affect to the maturity of the practical use of e-learning research & development (R&D) policies. And we explore the method that can enhance the effectiveness of policy. In the pursuit of this purpose, we use the 2012 South Korea e-learning industry survey data. Using variables of recognition of policy, experience of policy, and intention to use of policy, we find the maturity model of six stages. And we analyze the impact of the difficulties of operation, technology development, marketing to the maturity model. As a result, the more e-learning firms have problems of fund management and technology commercialization, they are located the higher maturity of the use of policy. Based on the results of these studies, we discuss the implication for how can enhance the effectiveness of policies.

• Korean Journal of Health Education and Promotion
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• v.31 no.5
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• pp.159-166
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• 2014

Purpose: In spite of many Healthy Cities projects in Korea, there are few research about healthy urban planning. So we tried to use available recent models to a Healthy Cities project in a medium sized city in Gyeongnam province. Methods: Using mainly European Healthy Urban Planning Model and opinion leader survey, SWOT analysis, forum and discussion have been done to a city. Secondary city health indicator obtained from Ministry of Statistics. Results: There are strong need to develop health industry, green traffic and healthy living from survey using Healthy Cities policy direction of Korean Health Promotion Fund. Among the Healthy Urban Planning objectives, improvements of physical environments, prevention of accidents and crime, improvements of healthy esthetics rated highly. Although environmental pollution was problem local government push forward to the pilot healthy urban project as active healthy water-front development. Considering secondary healthy city indicators, change of external forces and internal capacity final task for healthy urban planning for Yangsan city were development of riverside physical education park and active living and anti-ageing environments etc. Conclusions: Comprehensive assessment and plan was possible through MAPP Model using European Healthy Urban Planning objectives to draw the direction of future urban planning for Healthy Cities Projects. Further research and formal introduction would be needed.

• 한국디지털정책학회:학술대회논문집
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• 2005.06a
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• pp.145-175
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• 2005

In 2001, e-Credit guarantee system was introduced by the Korea Credit Guarantee Fund(KCGF) to extends the credit guarantee services for the purchasing amount on credit in the B2B e-Marketplace. It combines both the merits of bill of exchange and credit card and eliminates the uneasiness related to the unpaid accounts due to the non-facial e-Marketplace. The purpose of this paper is to empirically analyze both the causal relationship and influences among theoretical variables by the structural equation model(SEM). e-Credit guarantee system can be a good strategy for promoting B2R e-Marketplace. The level of application of e-Credit guarantee system is attributable to both the characteristics of B2B e-Marketplace and products. The cost reduction or saving in purchasing procedures, production and stockpiling will be possible through e-Credit guarantee system. The close linkage of financial institutions with the enterprises based on e-Credit guarantee system will further promote B2B e-Marketplace in Korea.