• The KIPS Transactions:PartD
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• v.16D no.3
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• pp.417-422
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• 2009

It is important to verify the validity of indicators assessing PMIS(Public Management Information System) effectiveness in academic research as well as practical affairs. As people invest in the field of Information Technology(IT) or IT system, private corporations are interested in investment in IT and it's business value. Moreover, the need of evaluating effectiveness on the investment in IT with the limited national budget are on the increase in public sector. Therefore, it is necessary to define the construct of PMIS(Public Management Information System) effectiveness so that we systematically compare and measure performance of public informatization project processed by each public organizations. It needs to develop indicators and verify the construct validity of them. we verified the construct validity of indicators assessing PMIS(Public Management Information System) effectiveness on the Administration DB Construction Projects.

• Management & Information Systems Review
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• v.33 no.5
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• pp.249-260
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• 2014

This paper explores the relationship between firm-specific volatility and some firm characteristics such as size, the market-to-book ratio of equity, PER, PBR, PCR, PSR and turnover in KOSDAQ market. In addition, I investigate whether portfolios with difference to realized range-based volatility and firm-specific volatility have different investment performance using CAPM and FF-3 factor model. The main findings of this study can be summarized as follows. First, firm-specific volatility have mostly positive relationship between firm-specific volatility and some firm characteristics. Second, this study found that realized range-based volatility and firm-specific volatility are positively related to expected return. It means that portfolios with high idiosyncratic volatility have significantly higher expected return than portfolios with low firm-specific volatility.

• Korean Journal of Construction Engineering and Management
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• v.9 no.5
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• pp.194-203
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• 2008

Construction Research and Development (R & D) projects have been begun with the investment of 1.2 billions in 1994 and have been reached to 30 billions in 2004. During this ten-year period, a total of investment for construction R&D amounts to 125.7 billions (Total 418 construction R&D projects). However, the results of each R&D project could not apply to real construction site because each project has been performed by a small size (0.5 billions). In addition to those, the social interest on the construction R&D projects has not been received and those importance has not been recognized. Especially, there aren't still standardized methodologies or weighted measurement data for evaluating research performance of the construction R&D projects up to now. The construction R&D projects has been Invested on the basis of an annual technology demand survey rather than the research performance outcome. Therefore, it is important to establish a qualitative performance measurement model for evaluating construction R&D projects. This paper proposes a new research methodology for analyzing the performance measurement of the construction R&D projects. First of all, the Balanced Score Card (BSC) is used to evaluate the construction STAR technologies selected in this research. The performance items of BSC has been modified as four criteria such as "productivity, "knowledge accumulation," "training of students," and "welfare." The new research methodology developed in this paper is expected to use in establishing resonable construction R&D budget in the future.

• Analyses & Alternatives
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• v.8 no.2
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• pp.87-115
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• 2024

This study examines the effect of R&D investment on firm performance and value of Chinese private firms. Through R&D investment, firms aim to acquire knowledge and technological resources to create innovation and competitive advantage, which ultimately enhances firm performance and value. However, unlike other investments, R&D investments are characterized by high adjustment costs and risks, uncertainty and asymmetric information. In addition, the effect of R&D investment on firm performance and value has been shown to be mixed results due to various internal and external contextual factors. Therefore, this study intends to consider how the ESG activities of firms, which have recently attracted attention, act as a contextual factor in the results of R&D investment. This is because interaction with stakeholders through ESG activities is considered to be an important factor in securing competitive advantages and sustainable growth. In this context, this study measures the effect of a firm's R&D investment on its business performance by dividing it into financial performance and value, respectively, and examines the moderating effect of ESG score on the relationship. Based on empirical analysis of all Chinese private firms from 2010 to 2019, the results show that a firm's R&D investment has a negative impact on performance and a positive impact on value. Furthermore, a high ESG score of private firms positively moderates each relationship, emphasizing the importance of ESG activities.

• 한국경영정보학회:학술대회논문집
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• 2008.06a
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• pp.827-832
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• 2008

IT성과는 정보시스템 구축 가동 후 상당기간이 경과되어야 제대로 나타나는 경우가 일반적이며, 아무리 근거리의 성과지표에 의한다 하더라도 단기적으로는 여전히 조직 내외의 다른 영향요인들에 의해 상쇄 효과(Smooting Effect)가 나타날 수 있다. 특히 IT 성과를 사후적으로 평가하고자 하는 방법론에서 시차를 고려하지 않고서는 정확한 IT 성과를 측정하기 어렵다. 본 연구에서는 정보화 성과평가에 있어 시차적 특성을 어떻게 효과적으로 분석할 수 있는지에 대해 알아보고자 한다. 이를 위해 시차의 개념이 도입된 정보화 성과평가 방법론을 토대로 성과평가를 실시한 공공 기관의 정보시스템 6개를 대상으로 시차분석에 대한 사례연구를 실시하였다.

• 한국IT서비스학회:학술대회논문집
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• 2007.05a
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• pp.417-422
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• 2007

본 연구에서는 조직에서 ITA/EA가 기여하는 기능이 무엇인지 그에 관한 측정항목들을 도출하였다. 또한 조직의 IT거버넌스가 왜 구축되고, 구축효과는 무엇으로 평가할 수 있는지 측정항목을 탐색적으로 도출하였다. 그리고 설문조사를 바탕으로 상호간의 영향관계를 통계적으로 검증하였다. 분석 결과, IT거버넌스 영역중 IT자원 및 성과관리와 IT프로세스 관리에는 ITA/EA의 업무프로세스 지원과 투자효율화 요인이 유의한 영향을 미치는 것으로 나타났으며, 마찬가지로 IT서비스관리에는 업무프로세스 지원, 투자효율화, 인프라체계화 요인이 영향을 미치는 것으로 나타났다.

• 한국IT서비스학회:학술대회논문집
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• 2003.11a
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• pp.155-161
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• 2003

해외에서는 교육/훈련 영역에서도 최신 정보기술과 아웃소싱을 통해 기업들이 교육/훈련에 대한 투자로부터 더 많은 성과를 높일 수 있도록 하는 새로운 접근방법이 시도되고 있다. 그러나 이러한 새로운 접근 방법의 도입을 통한 효과성 향상을 위해서는 해당 기업의 상황에 맞게 적절히 활용할 수 있도록 하는 비즈니스 목적과의 연계, 성과측정, 니즈 세분화 등을 수행하여야 하며, 관계 나침반 같은 프레임워크를 활용하여 핵심 교육/훈련 프로세스에서 회사의 전략에 부합하는 혁신을 달성할 수 있도록 아웃소싱 업체와의 관계 형성을 하여야 한다.

• Journal of Intelligence and Information Systems
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• v.28 no.4
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• pp.157-177
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• 2022

Investors are trading stocks by keeping a close watch on the order information submitted by domestic and foreign investors in real time through Limit Order Book information, so-called price current provided by securities firms. Will order information released in the Limit Order Book be useful in stock price prediction? This study analyzes whether it is significant as a predictor of future stock price up or down when order imbalances appear as investors' buying and selling orders are concentrated to one side during intra-day trading time. Using classification algorithms, this study improved the prediction accuracy of the order imbalance information on the short-term price up and down trend, that is the closing price up and down of the day. Day trading strategies are proposed using the predicted price trends of the classification algorithms and the trading performances are analyzed through empirical analysis. The 5-minute KOSPI200 Index Futures data were analyzed for 4,564 days from January 19, 2004 to June 30, 2022. The results of the empirical analysis are as follows. First, order imbalance information has a significant impact on the current stock prices. Second, the order imbalance information observed in the early morning has a significant forecasting power on the price trends from the early morning to the market closing time. Third, the Support Vector Machines algorithm showed the highest prediction accuracy on the day's closing price trends using the order imbalance information at 54.1%. Fourth, the order imbalance information measured at an early time of day had higher prediction accuracy than the order imbalance information measured at a later time of day. Fifth, the trading performances of the day trading strategies using the prediction results of the classification algorithms on the price up and down trends were higher than that of the benchmark trading strategy. Sixth, except for the K-Nearest Neighbor algorithm, all investment performances using the classification algorithms showed average higher total profits than that of the benchmark strategy. Seventh, the trading performances using the predictive results of the Logical Regression, Random Forest, Support Vector Machines, and XGBoost algorithms showed higher results than the benchmark strategy in the Sharpe Ratio, which evaluates both profitability and risk. This study has an academic difference from existing studies in that it documented the economic value of the total buy & sell order volume information among the Limit Order Book information. The empirical results of this study are also valuable to the market participants from a trading perspective. In future studies, it is necessary to improve the performance of the trading strategy using more accurate price prediction results by expanding to deep learning models which are actively being studied for predicting stock prices recently.

• Asia Marketing Journal
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• v.11 no.1
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• pp.39-72
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• 2009

With the growing importance of accountability, it is getting necessary to test the impact of marketing expenditure on marketing performance. Including recent ROM, we can find a few researches about marketing accountability. But there are a few problems about definitions and metric of marketing expenditure and marketing performance. Therefore, by defining and analyzing the impact of marketing expenditure on marketing performance, we are going to set the classification scheme of marketing expenditure and marketing performance. Based on research findings, new definitions and metrics are proposed as follows. First, we suggest the classification scheme of marketing expenditure. Marketing expenditure is defined as expense accounts in the balance sheet for doing marketing tasks. Marketing expenditures includes many accounts, for example, marketing research, advertising, sales promotion, foreign market development, physical distribution, after services. Among these marketing investment, advertising expenses have a positive effect on marketing performance. Second, we suggest the classification scheme of marketing performance. Already, marketing performance has been defined as financial metrics, customer metrics, market metrics, and corporate social responsibility. But, in this study, we find that the process model is not relevant for explaining association between the performance metrics. The process model is a virtuous cycle: "customer metrics→market metrics→financial metrics→firm valuation metrics." But, in this study, it is not supported or a little significant association between these metrics. Based on these results, we suggest the balance model or flower model as the classification scheme of marketing performance.

• Journal of Technology Innovation
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• v.22 no.1
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• pp.1-22
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• 2014

R&D investment also has a gestation period similar to other investments in economics. The gestation period originates from time lag effect of input and output. Thus it is necessary to consider time lag effects when analyzing the relationship between firms' R&D investment and R&D performance. The main objective of this research is to estimate the length of time lag effect of R&D investment. The Almon distribution lag model was applied to estimate the time lag effect. The firm level panel dataset was established from 2002 to 2009. The net value of R&D investment and the number of patent applications were used to measure R&D input and output, respectively. This method found the estimated time lag to be 1~2 years across all datasets. The same analyses were applied to chemical, metal, electronic, exact science, and machinery industries' data. And we found there were differences among sectors in regard to the time lag effect.