• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.74-84
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• 2016

Open Source Software (OSS) is a new paradigm for software development. The system is based on the notion of giving software (including sources) away for free, and making money on services, customizing and maintenance. For these reasons, many software companies have considered adopting and using OSS in Software R&D. A variety of factors may influence the use of decision making of OSS. The objective of this study was to explore the significant factors affecting the use decision of OSS and the job performance of OSS usage in software R&D. A research model was suggested based on the TOE Framework and Information Systems Success Model. These findings show that technical benefits of OSS have significant effects on OSS use. The technical benefits of OSS, and organization context, in turn, have significant effects on the use of OSS. On the other hand, the technical risks of OSS and the environment context have no effects on OSS use. In addition, OSS use and user satisfaction have significant effects on the individual job performance. This research contributes towards advancing the theoretical understanding of the OSS Benefits and Performance in Software Development.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.39-55
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• 2019

Recently banks and large financial institutions have introduced lots of Robo-Advisor products. Robo-Advisor is a Robot to produce the optimal asset allocation portfolio for investors by using the financial engineering algorithms without any human intervention. Since the first introduction in Wall Street in 2008, the market size has grown to 60 billion dollars and is expected to expand to 2,000 billion dollars by 2020. Since Robo-Advisor algorithms suggest asset allocation output to investors, mathematical or statistical asset allocation strategies are applied. Mean variance optimization model developed by Markowitz is the typical asset allocation model. The model is a simple but quite intuitive portfolio strategy. For example, assets are allocated in order to minimize the risk on the portfolio while maximizing the expected return on the portfolio using optimization techniques. Despite its theoretical background, both academics and practitioners find that the standard mean variance optimization portfolio is very sensitive to the expected returns calculated by past price data. Corner solutions are often found to be allocated only to a few assets. The Black-Litterman Optimization model overcomes these problems by choosing a neutral Capital Asset Pricing Model equilibrium point. Implied equilibrium returns of each asset are derived from equilibrium market portfolio through reverse optimization. The Black-Litterman model uses a Bayesian approach to combine the subjective views on the price forecast of one or more assets with implied equilibrium returns, resulting a new estimates of risk and expected returns. These new estimates can produce optimal portfolio by the well-known Markowitz mean-variance optimization algorithm. If the investor does not have any views on his asset classes, the Black-Litterman optimization model produce the same portfolio as the market portfolio. What if the subjective views are incorrect? A survey on reports of stocks performance recommended by securities analysts show very poor results. Therefore the incorrect views combined with implied equilibrium returns may produce very poor portfolio output to the Black-Litterman model users. This paper suggests an objective investor views model based on Support Vector Machines(SVM), which have showed good performance results in stock price forecasting. SVM is a discriminative classifier defined by a separating hyper plane. The linear, radial basis and polynomial kernel functions are used to learn the hyper planes. Input variables for the SVM are returns, standard deviations, Stochastics %K and price parity degree for each asset class. SVM output returns expected stock price movements and their probabilities, which are used as input variables in the intelligent views model. The stock price movements are categorized by three phases; down, neutral and up. The expected stock returns make P matrix and their probability results are used in Q matrix. Implied equilibrium returns vector is combined with the intelligent views matrix, resulting the Black-Litterman optimal portfolio. For comparisons, Markowitz mean-variance optimization model and risk parity model are used. The value weighted market portfolio and equal weighted market portfolio are used as benchmark indexes. We collect the 8 KOSPI 200 sector indexes from January 2008 to December 2018 including 132 monthly index values. Training period is from 2008 to 2015 and testing period is from 2016 to 2018. Our suggested intelligent view model combined with implied equilibrium returns produced the optimal Black-Litterman portfolio. The out of sample period portfolio showed better performance compared with the well-known Markowitz mean-variance optimization portfolio, risk parity portfolio and market portfolio. The total return from 3 year-period Black-Litterman portfolio records 6.4%, which is the highest value. The maximum draw down is -20.8%, which is also the lowest value. Sharpe Ratio shows the highest value, 0.17. It measures the return to risk ratio. Overall, our suggested view model shows the possibility of replacing subjective analysts's views with objective view model for practitioners to apply the Robo-Advisor asset allocation algorithms in the real trading fields.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.1-16
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• 2012

Under the international business circumstance, global supply chain management is considered a vital strategic challenge to small and medium-sized enterprises(SMEs) suffering from deficient resources and capabilities to exploit overseas markets comparing with large corporations. That is because they can expand their business domains into overseas markets by establishing strategic alliances with global supply chain partners. Although a wide range of previous researches have emphasized the cooperative networks in the chain, most are ignoring the importance of developing relational characteristics such as trust and reciprocity with the partners. Besides, verifying the relational factors influencing firms' export performances, some studies proposed different and inconsistent factors. According to the social capital theory, which is the social quality and networks facilitating close cooperation of inter-individual and inter-organization, provides the integrated view to identify the relational characteristics in the aspects of network, trust and reciprocal norm. Meanwhile, a number of researchers shows that global entrepreneurship is the internal and intangible resource necessary to promote SMEs' internationalization. Upon closer examination, however, they cannot explain clearly its influencing mechanism in the inter-firm cooperative relationships. This study is to verify the effect of social capital accumulated within global supply chain on SMEs' qualitative and quantitative export performance. In addition, we shed new light on global entrepreneurship expected to be concerned with the formation of social capital and the enhancement of export performances. For this purpose, the questionnaires, developed through literature review, were collected from 192 Korean SMEs affiliated in Korean Medium Industries Association and Global Chief Executive Officer's Club focusing on their memberships' international business. As a result of multi-regression analysis, the social capital - network, trust and reciprocal norm shared with global supply chain partner - as well as global entrepreneurship - innovativeness, proactiveness and risk-taking - have positive effect on SMEs' export performances. Also global entrepreneurship affects positively social capital which has mediating effect partially in the relationship between global entrepreneurship and performances. These results means that there is a structural process - global entrepreneurship(input), social capital(output), and export performances(outcome). In other words, a firm should consistently invest in and develop the social capital with global supply chain partners in order to achieve common goals, establish strategic collaborations and obtain long-term export performances. Furthermore, it is required to foster the global entrepreneurship in an organization so as to build up the social capital. More detailed practical issues and discussion are made in the conclusion.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.33 no.6
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• pp.2541-2549
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• 2013

The Construction industry has been dealing with much trouble due to global economic recession and domestic political trends emphasizing on welfare than development. Consequently, domestic construction market has been dramatically shrunk during the last a few years, and international market has become the only potential solution for the industry. However, there has been lack of efforts in developing a quantified measure of global competencies for Korean engineering and construction organizations. This study attempted to develop quantified indices for Korean engineering and construction contractors with which the level of global construction competencies can be objectively monitored. In doing so, a survey questionnaire was developed to identify relative importances of core competency elements which were derived from extensive literature reviews and experts interviews. AHP (Analytic Hierarchy Process) was employed as a main analysis method in developing quantification measures. The analysis results reveal little differences in competency requirements between engineering and construction firms and it implies that the global market becomes more integrated and requires a total solution for a construction project. The developed core competency measures can be used to quantify the level of preparedness of Korean engineering and construction firms at the time of evaluation and also be used as a basis for performance benchmarking indicators if they are compared with business showings.

• Journal of Korea Port Economic Association
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• v.25 no.4
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• pp.45-62
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• 2009

The purpose of this study is to analyze the components and to verify the relationship among internal marketing, job satisfaction, organizational commitment and turnover intention in international logistics firm. In order to achieve the purpose of this study, literature survey related to internal marketing, job satisfaction, organizational commitment and turnover intention was carried out and took an empirical analysis by the use of questionnaire method for employees in international logistics firm. The final results and conclusions are as follows; Internal marketing of international logistics firm was positively related to job satisfaction and organizational commitment. Internal marketing, Job satisfaction and organizational were negatively related to turnover intention. Through this results, to increase job satisfaction and organizational commitment, and to decrease turnover intention, it is necessary to concentrate on improving internal marketing strategy.

• Journal of Intelligence and Information Systems
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• v.27 no.1
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• pp.1-21
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• 2021

As the global business environment changes, uncertainties in technology development and market needs increase, and competition among companies intensifies, interests and demands for R&D activities of individual companies are increasing. In order to cope with these environmental changes, R&D companies are strengthening R&D investment as one of the means to enhance the qualitative competitiveness of R&D while paying more attention to facility investment. As a result, facilities or R&D investment elements are inevitably a burden for R&D companies to bear future uncertainties. It is true that the management strategy of increasing investment in R&D as a means of enhancing R&D capability is highly uncertain in terms of corporate performance. In this study, the structural factors that influence the R&D capabilities of companies are explored in terms of technology management capabilities, R&D capabilities, and corporate classification attributes by utilizing data mining techniques, and the characteristics these individual factors present according to the level of R&D capabilities are analyzed. This study also showed cluster analysis and experimental results based on evidence data for all domestic R&D companies, and is expected to provide important implications for corporate management strategies to enhance R&D capabilities of individual companies. For each of the three viewpoints, detailed evaluation indexes were composed of 7, 2, and 4, respectively, to quantitatively measure individual levels in the corresponding area. In the case of technology management capability and R&D capability, the sub-item evaluation indexes that are being used by current domestic technology evaluation agencies were referenced, and the final detailed evaluation index was newly constructed in consideration of whether data could be obtained quantitatively. In the case of corporate classification attributes, the most basic corporate classification profile information is considered. In particular, in order to grasp the homogeneity of the R&D competency level, a comprehensive score for each company was given using detailed evaluation indicators of technology management capability and R&D capability, and the competency level was classified into five grades and compared with the cluster analysis results. In order to give the meaning according to the comparative evaluation between the analyzed cluster and the competency level grade, the clusters with high and low trends in R&D competency level were searched for each cluster. Afterwards, characteristics according to detailed evaluation indicators were analyzed in the cluster. Through this method of conducting research, two groups with high R&D competency and one with low level of R&D competency were analyzed, and the remaining two clusters were similar with almost high incidence. As a result, in this study, individual characteristics according to detailed evaluation indexes were analyzed for two clusters with high competency level and one cluster with low competency level. The implications of the results of this study are that the faster the replacement cycle of professional managers who can effectively respond to changes in technology and market demand, the more likely they will contribute to enhancing R&D capabilities. In the case of a private company, it is necessary to increase the intensity of input of R&D capabilities by enhancing the sense of belonging of R&D personnel to the company through conversion to a corporate company, and to provide the accuracy of responsibility and authority through the organization of the team unit. Since the number of technical commercialization achievements and technology certifications are occurring both in the case of contributing to capacity improvement and in case of not, it was confirmed that there is a limit in reviewing it as an important factor for enhancing R&D capacity from the perspective of management. Lastly, the experience of utility model filing was identified as a factor that has an important influence on R&D capability, and it was confirmed the need to provide motivation to encourage utility model filings in order to enhance R&D capability. As such, the results of this study are expected to provide important implications for corporate management strategies to enhance individual companies' R&D capabilities.

• Spatial Information Research
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• v.22 no.3
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• pp.47-58
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• 2014

The credible measurement, reporting and verification (MRV) is among the most critical elements in UN-REDD (United Nations programme on Reducing Emissions from Deforestation and forest Degradation in Developing Countries). This study is intended to explore MRV potential in terms of UN-REDD opportunity cost estimation using satellite image for Mt. Geum-gang of North Korea. A visual interpretation were conducted to evaluate MRV conditions by sub-dividing or decomposing the images with different pixel size into a three types of hierarchical tree structure that helps dealing with spatial variability within each subarea. The permanent record of standard satellite remote sensing system demonstrated its capability of presenting area-wide visual evidences of MRV conditions in Mt. Geum-gang (such as the identification of forested area, degradation trends for forest space, three types of hierarchical land-cover and land use tree structure, carbon density in the landscape). Satellite data could be accepted as legally binding proof when it comes to REDD opportunity cost estimation since several cases exist where remote sensing has been used as legal evidence in ICJ (International Court of Justice) and UN resolution. It doesn't seem very difficult to comply with MRV requirements for UN-REDD opportunity cost calculation due to the probative value of satellite data. It is anticipated that this research output could be used as a valuable reference for Korea-based enterprises exploring REDD project sites and the carbon traders to ensure MRV potentials using satellite image in UN-REDD Opportunity Cost estimation.

• Environmental and Resource Economics Review
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• v.13 no.2
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• pp.219-243
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• 2004

Generally, electricity market has monopoly market structure because of need of enormous investment for infrastructure. However, the introduction of competition in network industry as electricity is a tendency of the world with decreasing the effects of economy of scale due to the advancement of technology. Now, electricity industry restructuring is in progress but the competition in electricity retail market is not in force yet in Korea. Whether a effective competition exist or not is very important to policy decision maker who drive restructuring, but there are small numbers of quantitative researches on that. In this study, we estimated the effectiveness of competition in the electricity retail market through switching costs. If switching costs are high, consumers actually can be locked in incumbent firm in spite of introduction of competition. Therefore switching is a critical factor to determine effectiveness of competition and to estimate the size of switching costs quantitatively can proffer the information about whether the competition in the electricity retail market is effective or not in the future. We estimated switching costs using consumer' stated-preference data by conjoint analysis. In according to estimation results, the cost of switching process is not so high, but the relative brand loyalty of an incumbent company is significantly high. And the price is considered as the most important factor choosing an electric service commodity. Based on the empirical results, it is possible to analyze the relationship between suppliers' competitiveness resulted from management efficiency and customers' switching possibilities. The paper therefore provides guidance for suppliers in deciding to enter into retail competition and for policy makers in introducing retail competition. And it has a significance of estimating the switching costs directly.

• Archives of design research
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• v.19 no.1 s.63
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• pp.201-214
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• 2006

Modern society is an age of vagueness and confusion. In addition, vagueness, complexity and variety are seen throughout art including modern philosophy, literature, and environmental design. A phenomenon like this shows that modern society has integrated different components as an organic relationship frequently crossing the boundary of fields. This feature can be regarded as hybrid related with accepting contradictory components and binding them into one under relationship between part and whole. As new design concept, presented are attitude to accept the two instead of attitude to select one of the alternatives, abundance instead of dearness, and ambiguity instead of simplicity. This principle has a crucial influence on creative design providing opposing contradiction and several alternative plans as non-deterministic form not completed one and, above all, useful information in mutual dependence and mutual relationship. When it comes to hybrid, therefore, a strategy is needed to consider layer of several fields getting out of standardizing space into a single space. As an event of this situation and concept, space experience means behaving freely based on experience of users' body. It can be known that this experience brings about users' more dynamic experience in comparison with the experience of seeing environmental design from a viewpoint of visual ism on the existing simplicity. Such a practical experience is subjective, synesthetic, and non-observational one. Therefore, hybrid has brought active users to the stage, which is distinguished from synesthesia felt through body's experience, not through observational attitude and visual space which achieve former balance and harmony with non-determination. That's because hybrid creatures are turning to a product resulted from creative imagination instead of from reappearance which makes text visualized. Such experience performed by user's active participation collapses the boundary between special elite-centered art and daily life and it is the present progressive form showing creation process of future events and new esthetic experience.

• Information Systems Review
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• v.13 no.3
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• pp.123-139
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• 2011

This paper researches the value of domestic telecommunication bundle products. Customers evaluate each telecommunication products differently according to their attributes. The attributes affecting the customer value of telecommunication bundling can be categorized in 3 ones as follows; corporate image, service feature, and service price. Also authors analyze the difference of importancy that customers consider when they evaluate each products, and propose the optimal scenario for bundling. In conclusion, other two companies A, C excluding B should invest more resources into the portion that strengthen the attributes of company image, and service feature to upgrade their 'corporate image', and 'service feature'. According to 6-scenarios analysis on the bundle products, the QPS expansion of company A was the most advantageous position, but if companies B, C expand DPS made use of their strengths, they can prevent from decreasing additivity rapidly with sequential scenario. The above results show that one company may have equable power in each area, but if another company having strengths in special areas makes up for its weakness and differentiates gradually it can contribute to strengthen its competitiveness. This contributed much more theoretical and practical than the existing researches. Supposing that additivity index evaluated by consumers can be changed by efforts of companies, this scenario planning is the result of study showing that the investment and publicity of each company have to be considered as its characteristic of each product at the same time.