• Information Systems Review
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• v.25 no.1
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• pp.111-128
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• 2023

With the development of artificial intelligence technology, interest in data-based product preference estimation and personalized recommender systems is increasing. However, if the recommendation is not suitable, there is a risk that it may reduce the purchase intention of the customer and even extend to a huge financial loss due to the characteristics of the financial product. Therefore, developing a recommender system that comprehensively reflects customer characteristics and product preferences is very important for business performance creation and response to compliance issues. In the case of financial products, product preference is clearly divided according to individual investment propensity and risk aversion, so it is necessary to provide customized recommendation service by utilizing accumulated customer data. In addition to using these customer behavioral characteristics and transaction history data, we intend to solve the cold-start problem of the recommender system, including customer demographic information, asset information, and stock holding information. Therefore, this study found that the model proposed deep learning-based collaborative filtering by deriving customer latent preferences through characteristic information such as customer investment propensity, transaction history, and financial product information based on customer transaction log records was the best. Based on the customer's financial investment mechanism, this study is meaningful in developing a service that recommends a high-priority group by establishing a recommendation model that derives expected preferences for untraded financial products through financial product transaction data.

• Journal of Korean Clinical Health Science
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• v.2 no.1
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• pp.1-16
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• 2014

Purpose. For a more efficient hospital management, this study aims to provide basic data so that the hospital management and staff in charge of hospital administration may systematically classify and collect hospital information, by analyzing the ordinary characters of an upper-level general hospital system and its common-type balance sheet, common-type profit and loss statement and financial ratio. Methods. By using information about an upper-level general hospital in C Province, provided by Alio(www.alio.go.kr), a public organization information provision site, Health Insurance Review & Assessment Service(www.hira.or.kr) and Ministry of Health and Welfare(www.mw.go.kr), this study analyzed 3 year's data from 2010 to 2012 and provided basic data by analyzing the ordinary characters of an upper-level general hospital system, and its common-type balance sheet, common-type profit and loss statement and financial ratio. Results. After analyzing the ordinary characters, common-type balance sheet, common-type proft and loss statement and financial ration of this general hospital, based on the 2010 to 2012 data, this study came to the following conclusions. Firstly, out of all the 1,069 hospital staff, there were 272 doctors working for 24 medical departments, out of whom the majority was 33 physicians. Most of the nurses were third-class ones, and about 2,000 outpatients and 600 inpatients on average were treated per day. Secondly, as a result of analyzing the common-type balance sheet, this study discovered that intangible assets out of fixed assets accounted for 41%, the majority, out of which usable and profitable donation asset buildings were of great importance, and the liquid assets increased more in 2012 than 2011. In the financial structure, the ratio of liquid liabilities was over 50% out of all the liabilities in 2012, and the ratio of purchase payables was high as well. The ratio of fixed liabilities reached up to 40%, out of which the retirement benefit appropriation fund was quite high. The capital was over 80%, but the surplus was in a deficit state. Compared to the capital, the ratio of total liabilities was about 90%, which indicates the financial structure of this general hospital was vulnerable. Thirdly, as a result of analyzing the common-type profit and loss statement, this study found out that the medical profits from inpatients were higher than profits from outpatients. The material cost was related to the medical quality of this general hospital, and it was as high as 30% out of the total costs and was about 45% of the labor cost. This general hospital showed 10% in the ratio of non-medical profits, and it seemed because of government subsidies. The ratios of medical profits and current net income were gradually changing for the better in 2012, compared to 2011. Lastly, as a result of analyzing the financial ratio, it was found that the liquidity ratio kept decreasing, from 110.7% in 2010 and 102.0% in 2011 to 77.2% in 2012. Besides, it was analyzed that the liquidity ratio and the net working capital ratio greatly decreased, while the quick ratio and the liquid ratio kept decreasing. Conclusions. 1. It is necessary to take the risk management into more consideration, and particularly, it is needed to differentiate and manage the levels of risk in detail. 2. By considering the fact that investments into hospital infrastructures were mostly based on liabilities, it is needed to deal with the scale of losses when evaluating risks. 3. By reflecting the character that investments into hospital infrastructures were based on liabilities, it is necessary to consider the ratio of ordinary profits as well as the ratio of operating profits to sales, and it is also important to consider sales productivity factors, such as the sales amount per a sickbed, by comparing them with other hospitals. As for limitations of this study, there may be some problems in terms of data interpretation because of the lack of information about the number of inpatients and the number of outpatients per year, which are needed for the break-even point analysis. Besides, to suggest a direction for the improvement of hospital management through analyses, non-financial factors should be reflected, such as the trend of economy, medical policies, and politic backgrounds. However, this study only focused on the common-type balance sheet, common-type profit and loss statement and financial ratio, so this study is actually limited to generalizing all the factors by analyzing public data only.

• Journal of Intelligence and Information Systems
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• v.27 no.1
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• pp.65-82
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• 2021

Stock market investors are generally split into foreign investors, institutional investors, and individual investors. Compared to individual investor groups, professional investor groups such as foreign investors have an advantage in information and financial power and, as a result, foreign investors are known to show good investment performance among market participants. The purpose of this study is to propose an investment strategy that combines investor-specific transaction information and machine learning, and to analyze the portfolio investment performance of the proposed model using actual stock price and investor-specific transaction data. The Korea Exchange offers daily information on the volume of purchase and sale of each investor to securities firms. We developed a data collection program in C# programming language using an API provided by Daishin Securities Cybosplus, and collected 151 out of 200 KOSPI stocks with daily opening price, closing price and investor-specific net purchase data from January 2, 2007 to July 31, 2017. The self-organizing map model is an artificial neural network that performs clustering by unsupervised learning and has been introduced by Teuvo Kohonen since 1984. We implement competition among intra-surface artificial neurons, and all connections are non-recursive artificial neural networks that go from bottom to top. It can also be expanded to multiple layers, although many fault layers are commonly used. Linear functions are used by active functions of artificial nerve cells, and learning rules use Instar rules as well as general competitive learning. The core of the backpropagation model is the model that performs classification by supervised learning as an artificial neural network. We grouped and transformed investor-specific transaction volume data to learn backpropagation models through the self-organizing map model of artificial neural networks. As a result of the estimation of verification data through training, the portfolios were rebalanced monthly. For performance analysis, a passive portfolio was designated and the KOSPI 200 and KOSPI index returns for proxies on market returns were also obtained. Performance analysis was conducted using the equally-weighted portfolio return, compound interest rate, annual return, Maximum Draw Down, standard deviation, and Sharpe Ratio. Buy and hold returns of the top 10 market capitalization stocks are designated as a benchmark. Buy and hold strategy is the best strategy under the efficient market hypothesis. The prediction rate of learning data using backpropagation model was significantly high at 96.61%, while the prediction rate of verification data was also relatively high in the results of the 57.1% verification data. The performance evaluation of self-organizing map grouping can be determined as a result of a backpropagation model. This is because if the grouping results of the self-organizing map model had been poor, the learning results of the backpropagation model would have been poor. In this way, the performance assessment of machine learning is judged to be better learned than previous studies. Our portfolio doubled the return on the benchmark and performed better than the market returns on the KOSPI and KOSPI 200 indexes. In contrast to the benchmark, the MDD and standard deviation for portfolio risk indicators also showed better results. The Sharpe Ratio performed higher than benchmarks and stock market indexes. Through this, we presented the direction of portfolio composition program using machine learning and investor-specific transaction information and showed that it can be used to develop programs for real stock investment. The return is the result of monthly portfolio composition and asset rebalancing to the same proportion. Better outcomes are predicted when forming a monthly portfolio if the system is enforced by rebalancing the suggested stocks continuously without selling and re-buying it. Therefore, real transactions appear to be relevant.

• Journal of Distribution Science
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• v.10 no.2
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• pp.29-41
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• 2012

This paper undertakes a conceptual review of transaction cost to broaden the understanding of the transaction cost analysis (TCA) approach. More than 40 years have passed since Coase's fundamental insight that transaction, coordination, and contracting costs must be considered explicitly in explaining the extent of vertical integration. Coase (1937) forced economists to identify previously neglected constraints on the trading process to foster efficient intrafirm, rather than interfirm, transactions. The transaction cost approach to economic organization study regards transactions as the basic units of analysis and holds that understanding transaction cost economy is central to organizational study. The approach applies to determining efficient boundaries, as between firms and markets, and to internal transaction organization, including employment relations design. TCA, developed principally by Oliver Williamson (1975,1979,1981a) blends institutional economics, organizational theory, and contract law. Further progress in transaction costs research awaits the identification of critical dimensions in which transaction costs differ and an examination of the economizing properties of alternative institutional modes for organizing transactions. The crucial investment distinction is: To what degree are transaction-specific (non-marketable) expenses incurred? Unspecialized items pose few hazards, since buyers can turn toalternative sources, and suppliers can sell output intended for one order to other buyers. Non-marketability problems arise when specific parties' identities have important cost-bearing consequences. Transactions of this kind are labeled idiosyncratic. The summarized results of the review are as follows. First, firms' distribution decisions often prompt examination of the make-or-buy question: Should a marketing activity be performed within the organization by company employees or contracted to an external agent? Second, manufacturers introducing an industrial product to a foreign market face a difficult decision. Should the product be marketed primarily by captive agents (the company sales force and distribution division) or independent intermediaries (outside sales agents and distribution)? Third, the authors develop a theoretical extension to the basic transaction cost model by combining insights from various theories with the TCA approach. Fourth, other such extensions are likely required for the general model to be applied to different channel situations. It is naive to assume the basic model appliesacross markedly different channel contexts without modifications and extensions. Although this study contributes to scholastic research, it is limited by several factors. First, the theoretical perspective of TCA has attracted considerable recent interest in the area of marketing channels. The analysis aims to match the properties of efficient governance structures with the attributes of the transaction. Second, empirical evidence about TCA's basic propositions is sketchy. Apart from Anderson's (1985) study of the vertical integration of the selling function and John's (1984) study of opportunism by franchised dealers, virtually no marketing studies involving the constructs implicated in the analysis have been reported. We hope, therefore, that further research will clarify distinctions between the different aspects of specific assets. Another important line of future research is the integration of efficiency-oriented TCA with organizational approaches that emphasize specific assets' conceptual definition and industry structure. Finally, research of transaction costs, uncertainty, opportunism, and switching costs is critical to future study.

• Strategy21
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• s.30
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• pp.99-142
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• 2012

Withe increased North Korea's security threats, the South Korean navy has been faced with deteriorating security environment. While North Korea has increased asymmetric forces in the maritime and underwater with the development of nuclear weapons, and China and Japan have made a large investment in the buildup of naval forces, the power of the Pacific fleet of the US, a key ally is expected to be weakened. The biggest threat comes from China's intervention in case of full-scale war with North Korea, but low-density conflict issues are also serious problems. North Korea has violated the Armistice Agreement 2,660 times since the end of Korean War, among which the number of marine provocations reaches 1,430 times, and the tension over the NLL issue has been intensifying. With tension mounting between Korea and Japan over the Dokdo issue and conflict escalating with China over Ieo do Islet, the US Navy has confronted situation where it cannot fully concentrate on the security of the Korean peninsula, which leads to need for strengthening of South Korea's naval forces. Let's look at naval forces of neighboring countries. North Korea is threatening South Korean navy with its increased asymmetric forces, including submarines. China has achieved the remarkable development of naval forces since the promotion of 3-step plan to strengthen naval power from 1989, and it now retains highly modernized naval forces. Japan makes an investment in the construction of stat of the art warship every year. Since Japan's warship boasts of its advanced performance, Japan's Maritime Self Defense Force is evaluated the second most powerful behind the US Navy on the assumption that submarine power is not included in the naval forces. In this situation, naval power construction of South Korean navy should be done in phases, focusing on the followings; First, military strength to repel the energy warship quickly without any damage in case of battle with North Korea needs to be secured. Second, it is necessary to develop abilities to discourage the use of nuclear weapons of North Korea and attack its nuclear facilities in case of emergency. Third, construction of military power to suppress armed provocations from China and Japan is required. Based on the above naval power construction methods, the direction of power construction is suggested as follows. The sea fleet needs to build up its war potential to defeat the naval forces of North Korea quickly and participate in anti-submarine operations in response to North Korea's provocations. The task fleet should be composed of 3 task flotilla and retain the power to support the sea fleet and suppress the occurrence of maritime disputes with neighboring countries. In addition, it is necessary to expand submarine power, a high value power asset in preparation for establishment of submarine headquarters in 2015, develop anti-submarine helicopter and load SLAM-ER missile onto P-3C patrol aircraft. In case of maine corps, division class military force should be able to conduct landing operations. It takes more than 10 years to construct a new warship. Accordingly, it is necessary to establish plans for naval power construction carefully in consideration of reality and future. For the naval forces to safeguard maritime sovereignty and contribute to national security, the acquisition of a huge budget and buildup of military power is required. In this regard, enhancement of naval power can be achieved only through national, political and military understanding and agreement. It is necessary to let the nation know that modern naval forces with improved weapon system can serve as comprehensive armed forces to secure the command of the sea, perform defense of territory and territorial sky and attack the enemy's strategic facilities and budget inputted in the naval forces is the essential source for early end of the war and minimization of damage to the people. If the naval power construction is not realized, we can be faced with a national disgrace of usurpation of national sovereignty of 100 years ago. Accordingly, the strengthening of naval forces must be realized.

• Journal of Digital Convergence
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• v.12 no.4
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• pp.51-68
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• 2014

Today's public sector information is considered an important national asset that has social and economic value. Hence, developed countries are competitively promoting various policies to actively promote access to public sector information and the use of such information for private purposes. The Korean government is also boosting the Government 3.0 policy as a new governmental management paradigm that supports the creative economy. Despite these governmental efforts, since open public sector information is only classified from the supplier's perspective, it is difficult to have access to information for private application from the consumer's perspective and expand private applications because of the problems in identifying the information source. In this study, the concept of data from the user's perspective for the activation of private applications was defined by focusing on public sector information obtained by affiliated organizations of the Ministry of Science, ICT and Future Planning(MSIP). The new classification system was designed by analyzing the classification system of conventional open services of public sector information through investigation.

• Management & Information Systems Review
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• v.30 no.2
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• pp.237-255
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• 2011

This empirical study is focused on practical application of Range-Based Volatility which is estimated by opening, high, low, closing price of overall asset. Especially proper forecasting period is what I want to know. There is four useful Range-Based Volatility(RV) such as Parkinson(1980; PK), Garman and Klass(1980; GK) Rogers and Satchell(1991; RS), Yang and Zhang(2008; YZ). So, four RV of KOPSI 200 index during 2000.5.22-2009.9.18 was used for empirical test. The emprirical result as follows. First, the best RV which shows the best forecasting performance is PK volatility among PK, GK, RS, YZ volatility. According to estimating period forcasting performance of RV shows delicate difference. PK has better performance in the period with financial crisis of sub-prime mortgage loan. if not, RS is better. Second, almost result shows better performance on forecasting volatility without sub-prime mortgage loan period. so we can say that forecasting performance is lower when historical volatiltiy is comparatively high. Finally, I find that longer estimating period in AR(1) and MA(1) model can reduce forecasting error. More interesting point is that the result shows rapid decrease form 60 days to 90 days and there is no more after 90 days. So, if we forecast the volatility using Range-Based volaility it is better to estimate with 90 trading period or over 90 days.

• Management & Information Systems Review
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• v.29 no.4
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• pp.169-186
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• 2010

This study aims to reveal the ways to sharpen the edges of Korean companies through the relativity analysis between knowledge management and innovational cluster in environmental changes in resent Busan. That is, according to the knowledge management approach, the methods and directions of strengthening industrial competition were established, while the strategy of innovational clusters was suggested as a way of expanding and encouraging knowledge management. The key words of innovational cluster are in this research are the framework of Cluster theory, the importance of innovational cluster, and the change of managerial strategy paradigm. This study provide the several implication for the practice of knowledge management and the researchers. Based on these theories of knowledge management and industrial clusters, their close relationships were analyzed. As a result, industrial clusters were found to be effectively utilized to enlarge and deepen knowledge management. In addition, this suggests the efficient operation guideline of knowledge management. this study indicates both knowledge and innovational cluster should be operated and handled together in the managerial strategy. but this research has limitations in generaling the study result because it collects data from local firms only in Busan.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.5
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• pp.43-52
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• 2014

It becomes to be essential for firms to build up collaboration ecosystem with diverse entities and to be common for firms to absorb knowledge from external environment for their innovation. Companies try to transfer technological or knowledge asset to other firms through open innovation. The purpose of this research is to suggest the role of universities in University-Industry Collaborations besides research collaboration and we focus on the role of university to strengthen the regional business ecosystem network. For this research, we analyze a specific UIC(University Industry Collaboration) program called as "Business Clinic Day" which provides a consulting service for firms, especially, SMEs with a specific problem by a group of consultants including CEOs, professors, and heads of regional public or private service providers. Then we studied how the business network has changed after the program with network analysis. Also, we try to find out the main pattern of network structure extension of business ecosystem with interview. This study illustrates that changing types of network are formed between university and SMEs by clinic day. The result shows that not only new role as a network promoter, but also the partner as a technology-provider in the regional business ecosystem.

• Journal of the Korean Association of Geographic Information Studies
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• v.17 no.1
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• pp.144-158
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• 2014

This research presented a conceptual design of damage assessment inventory for efficient response to natural disaster damage of infrastructure close to the river. It consists of classification and categorization of facilities for accomplishing the conceptual design of inventory for damage of infrastructure close to the river. However, there are arising problems of efficient management on disaster, such as poor management of data facilities and constructions which is managed by the different types of government departments. Therefore, this research presented conceptual models of damage assessment inventory on risks of damage infrastructure close to the river using the United states' HAZUS-MH to analyze damage facilities, type of asset classification, classification of domestic facilities and guidelines for computing the value of assets. Conceptual models of inventory this research presented is to be used on the data for damage response on protected inland damage assessment and to increase efficiency for evaluating detailed damage amount of private property by natural disaster and to establish a restoration plan.