• The Korean Journal of Financial Management
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• v.24 no.4
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• pp.163-199
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• 2007

This paper studies the stock market in which there are two types of investor, institutional and individual, whose information gathering and processing abilities are different. The institutional investor manages large funds and has powerful information sources. Whereas, the individual investor trades with a small amount of money and an information disadvantage. The model assumes that the institutional investor is more experienced and able to acquire relevant information earlier than the individual investor. On these assumptions, this paper shows a price continuation in the short run and a price reversal in the long run. The price continuation, or momentum, in the short run can be explained as follows. The early-informed institutional investor trades a stock, and as a result the stock price changes. Then the late-informed individual investor trades the same stock, and the stock price continues to move in the same direction in the short run. The reason for the price reversal in the long run is that since the individual investor has inferior information on the fundamental value of the stock, he tends to overreact to new information. So the stock price changes over its fundamental value initially and then regresses toward its fundamental value. In sum, both the price continuation and the price reversal are caused by the overreaction of the individual investor. The essay illustrates how these phenomena are stronger in the case where the proportion of the individual investor is higher. It also shows how the stock price goes up when the institutional investor buys a stock, while it goes down when the individual investor buys one.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.37 no.2
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• pp.427-435
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• 2017

Korea's overseas construction awards reached US $750 bn for more than 50 years since it first entered the market in 1966. In particular, the company won US $540 bn over 10 years from 2007, achieving 72% of the total contracts. However, in recent two years, awarded amounts have decreased by 40% each year. The most significant decline is due to the impact of international oil prices, which have plummeted since end of 2014, as oil-producing nations, which are Korea's major target countries, are struggling to cancel or postpone infrastructure orders. In order to lessen the impact of raw material price fluctuations, the recent trend is that even countries with relatively loose government financing conditions are rapidly changing their ordering methods to investment development forms such as PPP. The Korean government and companies have been already preparing for this for several years, but they are still not doing so well. The main reason is the lack of understanding about the investment development type project, especially financing methods and the aggravated fear of exposing it to various risks due to the characteristics of the development project, which takes a long time to collect the investment. In this paper, I propose a more systematic solution to financial process and risk management, which is recognized as a obstructive factor for Korean companies, in line with the recent government-led establishment of overseas infrastructure development support organizations. I would like to serve as a investment guide.

• Culinary science and hospitality research
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• v.20 no.2
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• pp.120-135
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• 2014

This research aimed to investigate the effect of business management of Korean restaurants on business performance and to propose an alternative. For this investigation, a survey was carried out targeting Korean restaurant managers in the capital area, and with 360 copies as sample, factor analysis, difference test, and multiple regression analysis were conducted. As a result of analysis, among the factors of business management of Korean restaurants, only information management and fund management appeared to have effects on both financial performance and nonfinancial performance. This means, in case of Korean restaurants, business performance can be improved by understanding every environment about food service management and customer demands, by investing fund in the right place, and by managing inefficient expenses. Therefore, it is most important for a Korean restaurant manager to cultivate knowledge in management and to put effort into cost-reduction of all employees.

• Journal of Korea Technology Innovation Society
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• v.16 no.4
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• pp.1032-1054
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• 2013

An increase of national R&D has brought the growth of research performance such as paper and patent quantitatively. However, the results of technology transfer and commercialization still leave much to be desired in Korea. Therefore, it has to be drawn up a plan for effective management & application of research performance created by public research institutes. We select four leading institutes (two universities, two government-funded research institutes) that performed efficient performance management & application. Then, we analyze the best practices and suggest contributions. The results show that four institutes build up a framework of performance management & application from research planning to technology transfer and commercialization. At an early planning phase, institutes set up definite needs-oriented goals, and prior review as well as prior art search is executed through experts. Besides, they systematically promote strategic patent management, technology marketing, post management, and so forth. For such a performance management & application process, capabilities have to be supported with regard to specialized organization, system, routine. This study can give an hint to improve performance management & application from public research institutes in Korea.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2004.11a
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• pp.414-418
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• 2004

Quality system of construction industry in Korea was a means to prevent unqualified construction work. But lately, it has became an essential requirement. So, lots of construction companies acquire ISO quality management system which provides fundamental management criteria. Now, most of the Korean construction companies have got IS0 quality management system. So, getting ISO quality management system doesn't mean advantage in public competition of construction bidding and that causes increase in the maintenance cost. That's why some construction companies abandon the 150 certificate. Therefore, the authors need to check the effect of ISO quality management system. For this, the authors provide the performance measurement index of ISO quality management system.

• Korean Journal of Construction Engineering and Management
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• v.17 no.2
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• pp.80-89
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• 2016

Recently, the paradigm shift of new construction into efficient operation and maintenance of infrastructure is seen. Also, concerns about infrastructure safety, especially the aged infrastructure, are on the increase. This study evaluates the current status of infrastructure safety and maintenance using data from 1994 to 2014 in Facility Management System operated by Korea Infrastructure Safety Corporation. Also, a quantitative analysis of safety performance of infrastructure is conducted to find out the enhancement of infrastructure safety in Korea. It was found that safety of facilities in Korea have been enhanced for the past decades. Improvement of safety performance of facilities is attributed to periodic safety inspection and repair and reinforcement. The result of the study can be used as a basic material for efficient and effective facility maintenance policies and strategies.

• Information Systems Review
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• v.18 no.4
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• pp.155-171
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• 2016

Today's organizations make a large investment in information technology (IT) that supports knowledge management. The perceived importance of transactive memory systems (TMS) is increasing in the aspect of team performance. This study aims to understand the mediating effect of knowledge sharing and usage from the perspective of the relationship between IT support for knowledge management and TMS for team performance. To this end, this study analyzes the survey responses obtained from 224 members of 37 different teams using IT support for knowledge management. The results are as follows. First, the effect of IT support on knowledge management was significant in TMS. Second, the mediating effect of IT support on knowledge management through TMS was higher than its direct effect on knowledge sharing and usage. Third, IT support for knowledge management had a greater effect on knowledge sharing than on knowledge usage. Fourth, the effect of TMS appeared to be ordered by tacit knowledge sharing, explicit knowledge sharing, tacit knowledge usage, and explicit knowledge usage. Fifth, the relationship of team performance with knowledge sharing and usage was significant in the order of tacit knowledge usage, tacit knowledge sharing, and explicit knowledge usage.

• Convergence Security Journal
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• v.15 no.3_1
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• pp.107-114
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• 2015

Since 2002, information security management system has been implemented (ISMS) certification scheme whilst providing telecommunications services to enhance the level of enterprise information security was ongoing and Prevent accidents and avoid spread of infringement, such as rapid response and there is a lot of it came true. However, this system is the protection of the country or the investment company, as part of the actual information on how management affects the performance came from or how measures are still lacking for. In this study, the companies have their own privacy ISMS certification measures the level of activity continued to improve information security performance measures and methodology are presented. The government is also based on the validity of the certification system to ensure the overall implementation of the ISMS itself is this a step increase effective information security system is to be certified in advance to prevent security incidents and to improve business performance to help.

• Journal of the Korea Institute of Building Construction
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• v.10 no.3
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• pp.71-81
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• 2010

In 1994, Korean construction research and development (R&D) projects received investments amounting to 1.2 billion KRW, an amount that rose to 164.8 billion KRW in 2007. Under the current system, construction researchers submit the application records of Construction Research and Development (R&D) in construction projects to the Korea Institute of Construction & Transportation Technology Evaluation and Planning. The performance of Construction R&D projects has thus been dependent on the subjective reporting of the results by the researchers themselves. For this reason, it is difficult to secure confidence in the records of Construction Research and Development. Therefore, this research suggested measures for revitalizing Construction Research and Development, analyzed approaches to cost-saving in Construction Research and Development, and analyzed economic effectiveness in the results of construction R&D.

• Journal of Korea Society of Industrial Information Systems
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• v.14 no.4
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• pp.183-197
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• 2009

The purpose of this paper is to study whether there are differences in the relationship between IT utilization level and organizational performance among large, medium and small-sized enterprises. This study first assessed the immediate influence of IT utilization level on organizational performance, and then further examined the moderating effects of the organizational size and the environmental dynamism that had influences on the relationship between IT utilization level and organizational performance. The empirical test revealed that IT utilization level had significant impact on organizational performance in case of all sized enterprises. But, the sub-group analysis revealed that IT utilization level had no statistically significant impact on organizational performance in case of large enterprises despite of higher IT utilization level than small and medium-sized enterprises. The relationship between IT utilization level and organizational performance was not moderated significantly by environmental dynamism in case of all sized enterprises. But, the sub-group analysis revealed that environmental dynamism had significant moderating effect on the relationship between IT utilization level and organizational performance in case of large and small-sized enterprises when there was a high level of environmental dynamism.