• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.19 no.3
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• pp.73-82
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• 2019

In order to build a smart factory, building a CPPS (Cyber Physical Product System) is an important system that must be accompanied. Through the CPPS, it is the reality of smart factories to move physical factories to a digital-based cyber world and to intelligently and autonomously monitor and control them. But The existing CPPS architectures present only an abstract modeling architecture, and the research that applied the OPC UA Framework (Open Platform Communication Unified Architecture), an international standard for data exchange in the smart factory, as the basic system of CPPS It was insufficient. Therefore, it is possible to implement CPPS that can include both cloud and IoT by collecting field data distributed by CPPS architecture applicable to actual factories and concentrating data processing in a centralized In this study, we implemented CPPS architecture through central OPC UA Server based on OPC UA conforming to central processing OPC UA Framework, and how CPPS logical process and data processing process are automatically generated through OPC UA modeling processing We have proposed the CPPS architecture including the model factory and implemented the model factory to study its performance and usability.

• The Korean Journal of Community Living Science
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• v.22 no.3
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• pp.379-393
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• 2011

This study compared the college students' dietary behavior for processed foods, who will be the main consumers in the future and looked for the measures to understand and establish the right food labeling system by surveying the level of understanding and utilization of food labeling. The data was analysed by SPSS win 17.0 program, and the results are as follows. For the standard of selecting processed foods, the group with high nutrition knowledge considered the reliability of foods as important and the group with low nutrition knowledge considered the products introduced in TV commercial as important. When purchasing processed foods, the group with high nutrition knowledge considered nutrition, taste, price, appearance(shape), and the consumable period more than the group with low nutrition knowledge. For trans fat, the group with high nutrition knowledge learned more about it than the group with low nutrition knowledge. The ratio of confirming food nutrition label was higher in the group with high nutrition knowledge. Regarding the level of confirming individual food labels, the highest level was for milk and dairy products. And there was significant difference for the processed products of meat, cookies, bread and noodles. It was found that the level of confirmation was higher in the group with high nutrition knowledge. And the most important indication for individual food product was the consumable period. To preserve the purchased foods, the group with high nutrition knowledge preserve the foods in line with the description written on the food cover sheet, and this group used to return or exchange the products when they found them spoiled or purchased by mistake. The group with high nutrition knowledge knew more about the nutrition indication than the group with low nutrition knowledge. The necessity of nutrition indication for processed foods and the need of education and PR(Public Relation) were acknowledged higher in the group with high nutrition knowledge. For the effect of nutrition indication, it showed that the group with high nutrition knowledge thought it would improve the quality and the group with low nutrition knowledge thought it would be helpful when comparing the product with others. The group with high nutrition knowledge showed higher understanding level about nutrition indication than the group with low nutrition knowledge.

• Asia pacific journal of information systems
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• v.24 no.2
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• pp.233-253
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• 2014

Can the stock market really be predicted? Stock market prediction has attracted much attention from many fields including business, economics, statistics, and mathematics. Early research on stock market prediction was based on random walk theory (RWT) and the efficient market hypothesis (EMH). According to the EMH, stock market are largely driven by new information rather than present and past prices. Since it is unpredictable, stock market will follow a random walk. Even though these theories, Schumaker [2010] asserted that people keep trying to predict the stock market by using artificial intelligence, statistical estimates, and mathematical models. Mathematical approaches include Percolation Methods, Log-Periodic Oscillations and Wavelet Transforms to model future prices. Examples of artificial intelligence approaches that deals with optimization and machine learning are Genetic Algorithms, Support Vector Machines (SVM) and Neural Networks. Statistical approaches typically predicts the future by using past stock market data. Recently, financial engineers have started to predict the stock prices movement pattern by using the SNS data. SNS is the place where peoples opinions and ideas are freely flow and affect others' beliefs on certain things. Through word-of-mouth in SNS, people share product usage experiences, subjective feelings, and commonly accompanying sentiment or mood with others. An increasing number of empirical analyses of sentiment and mood are based on textual collections of public user generated data on the web. The Opinion mining is one domain of the data mining fields extracting public opinions exposed in SNS by utilizing data mining. There have been many studies on the issues of opinion mining from Web sources such as product reviews, forum posts and blogs. In relation to this literatures, we are trying to understand the effects of SNS exposures of firms on stock prices in Korea. Similarly to Bollen et al. [2011], we empirically analyze the impact of SNS exposures on stock return rates. We use Social Metrics by Daum Soft, an SNS big data analysis company in Korea. Social Metrics provides trends and public opinions in Twitter and blogs by using natural language process and analysis tools. It collects the sentences circulated in the Twitter in real time, and breaks down these sentences into the word units and then extracts keywords. In this study, we classify firms' exposures in SNS into two groups: positive and negative. To test the correlation and causation relationship between SNS exposures and stock price returns, we first collect 252 firms' stock prices and KRX100 index in the Korea Stock Exchange (KRX) from May 25, 2012 to September 1, 2012. We also gather the public attitudes (positive, negative) about these firms from Social Metrics over the same period of time. We conduct regression analysis between stock prices and the number of SNS exposures. Having checked the correlation between the two variables, we perform Granger causality test to see the causation direction between the two variables. The research result is that the number of total SNS exposures is positively related with stock market returns. The number of positive mentions of has also positive relationship with stock market returns. Contrarily, the number of negative mentions has negative relationship with stock market returns, but this relationship is statistically not significant. This means that the impact of positive mentions is statistically bigger than the impact of negative mentions. We also investigate whether the impacts are moderated by industry type and firm's size. We find that the SNS exposures impacts are bigger for IT firms than for non-IT firms, and bigger for small sized firms than for large sized firms. The results of Granger causality test shows change of stock price return is caused by SNS exposures, while the causation of the other way round is not significant. Therefore the correlation relationship between SNS exposures and stock prices has uni-direction causality. The more a firm is exposed in SNS, the more is the stock price likely to increase, while stock price changes may not cause more SNS mentions.

• Korean Business Review
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• v.11
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• pp.277-293
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• 1998

The purpose of this study is to analyse the overall relationship between the advertisement expenses and the two major indicies of business performance, that is, the total amount of sales and the discipline have contrasted the expenses for commercial advertisement with the total amount of sales or with the business performance, respectively, utilizing data on a specific product observed through 3 to 5 years. This study attempts to enlarge the scope of observation and the content of analysis. In order to attain the purpose of this study, the rate of increase in the advertisement expenses is taken as the independent variable and the two major indicies of business performance, the total amount of sales and the resultant interest, as the dependent variables. Business companies or firms which have continually been listed on the board of Korea Stock Exchange for 14 years, from 1982 to 1995, were grouped into four major business categories; 1)Food and beverage industries, 2)Fiber, clothings, and leather industries, 3) Medicine, chemistry, oil, coal, and rubber industries, and 4) Assembled mechanics and metallurgy, machinery, and maintenance industries. Utilizing the KIS-DATA, compiled by Korea Credit Evaluation, Ltd., 30 to 40 samples of business companies or firms were randomly selected from each category. Finally 125 samples were selected and put into regression analyses and follow-up tests by appropriate statistical models, in order to verify if there were any noticeable correlations. The final result obtained through the afore-mentioned research method shows that the amount of advertisement expenses has strong correlations with the amount of sales and the resultant interest. Viewed by business category, in the case of fiber, clothings, and leather industries, the relationship turned out to be significant only with the rate of increase in the total amount of sales, while, in the case of food and beverage industries, the rate of increase in the total amount of sales showed a negatively significant correlations.

• Journal of KIISE:Computing Practices and Letters
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• v.7 no.6
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• pp.614-629
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• 2001

As the information-intensive society in 21c based on the environment of global internet is promoted, the software is getting more large and complex, and the demand for the software is increasing briskly. So, it becomes an important issue in academic and industrial field to activate reuse by developing and exchanging the standardized component. Currently, the information services as a product type of each company are provided in foreign market place for reusing a commercial component, but the components which are serviced in each market place are different, insufficient and unstandardized. That is, construction for Component Data Registry based on ISO 11179, is not accomplished. Hence, the national government has stepped up the plan for sending out public component at 2001. Therefore, the systems as a tool for sharing and exchange of data, have to support the meta-information of standardized component. In this paper, we will propose the C_MDR system: a tool to register and manage the standardized meta-information, based upon ISO 11179, for the commercialized common component. The purpose of this system is to systemically share and exchange the data in chain of acceleration of reusing the component. So, we will show the platform of specification for the component meta-information, then define the meta-information according to this platform, also represent the meta-information using XML for enhancing the interoperability of information with other system. Moreover, we will show that three-layered expression make modeling to be simple and understandable. The implementation of this system is to construct a prototype system of the component meta-information through the internet on www, this system uses ASP as a development language and RDBMS Oracle for PC. Thus, we may expect the standardization of the exchanged component metadata, and be able to apply to the exchanged reuse tool.

• Asia Marketing Journal
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• v.12 no.4
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• pp.27-54
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• 2011

This research attempted to present the efficiency of culture marketing to the organizations producing culture-art products and to the companies utilizing art and suggest the practical viewpoints to the culture and art policy agencies. The methodology used was to take an in-depth look at the consumer value cognition and benefits of culture-art products in contemporary consumption culture from a social context by conducting a total of 12 Focus Group Interviews, consisting of 58 males and females in their 10s~50s who can represent culture-art product consumers. The culture-art products refer to the artist's spiritual, actual act of creating or to the end products with economic exchange value. They are also sense goods and merit goods that affect the mental state of consumers. By looking at culture-art products as consumer merit goods, this research examined consumer value cognition of culture-art products based on the characteristics culture-art products. As a result, this research determined that consumers view culture-art products largely as 'aesthetic and sensuous merit goods', 'actual and individual merit goods', and 'social public property'. As 'aesthetic and sensuous merit goods', culture-art products are considered as the products of an artist's creative activities; as 'social public property', culture-art products have a public value in terms of ownership; and as 'actual and individual merit goods', culture-art products act on the spirit and reality of a consumer in terms of consumption. As a result of analyzing the benefits of culture-art products based on the above-mentioned consumer value cognition, it was observed that the benefits of culture-art-product consumption are chiefly divided into 'aesthetic character-oriented', 'social relationships-oriented', and 'individual benefits-oriented' depending on how consumers see culture-art products. A 3-conceptional structures model was constructed according to the relationship between consumer value cognition of culture-art products and the benefits. This research revealed that consumers who pursue the aesthetic value or sense of beauty as the central reason experience culture-art products themselves, enjoy intellectual quests, and pursue their satisfaction by expressing affection for and interests in culture-art products. On the other hand, consumers who pursue social value as the central reason as a means of communication by perceiving culture-art products as a public property of society, pursue sympathy with people close to them through the symbolic power of culture-art product consumption or the joy of self-display. Consumers who perceive art products as spiritual and actual merit goods and pursue consumer value as a central reason want to express their own personality, develop themselves, and differentiate themselves or identify themselves with others in the context of social relations for the ultimate goal of living a happy and satisfied life while pursuing to satisfy imminent and actual necessities as emotional stability and rest. The fact that culture-art product benefits could vary according to how a consumer perceives them implies that consumer value cognition of culture-art products and their benefits significant affect consumers' decision in choosing and consuming various culture-art products. It turned out that such benefits from the consumption of culture-art products reflect the complex contemporary consumption culture of rational consumption, symbolic consumption, experiential consumption, and social reflective consumption. This research identified conceptional structures of consumer value cognition on culture-art products and benefits that can be used for studying and understanding culture-art products consumers who pursue a variety of consumption values. They can also be used by private companies in utilizing art, as well as by national agencies in enhancing the population's quality of life. However, since this research could only conceptually grasp consumer perception of culture-art products and reveal the dimension of classification due to its own limitations arising from characteristic investigation, quantitative data on the benefits of culture-art product consumers should be measured in future studies through a quantitative investigation, while using the value cognition of culture-art products and the individual characteristics of consumers as variables based on this research.

• Journal of Distribution Science
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• v.11 no.6
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• pp.51-58
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• 2013

Purpose - Nowadays, more than ever before, fierce competition, deep market segmentation, short product life cycles, and intensifying customer needs are putting increasing pressure on franchise's organizations to satisfy their customers by creating market-oriented relationships with and enhancing their market knowledge of them. One way that this might be achieved is by establishing deep ties (i.e., job commitment and job satisfaction) with their employees. Therefore, the purpose of this study is to examine how two important constructs of franchises' strategic efforts, LO (learning orientation) and RMO (relationship marketing orientation), affect job satisfaction, given the mediating role of job commitment. A franchise system comprises a set of contractual arrangements by which mutual obligations are performed. An organizational learning goal motivates employees to improve their abilities and master the tasks they perform. Relationship marketing, in addition, is to identify, establish, maintain, and enhance relationships with customers and other stakeholders to ensure that the objectives of all parties are met and this is done through the mutual exchange of promises. In a relationship marketing orientation, then, a firm creates, maintains, and enhances a strong relationship with its customers by sustaining long-term ties. This study was designed to examine the evolution of various theoretical approaches to franchise systems in order to determine whether theories about firms have significantly affected the franchise system. To this end, the authors developed a structural model consisting of several constructs. Previous studies have suggested that franchises' learning and relationship marketing orientations are important occupational immersion dimensions driving job satisfaction. Research design, data, methodology - We empirically tested a process of how the learning orientation and the relationship marketing orientation influence job commitment and job satisfaction using survey data drawn from 150 responding franchisees who were interviewed about their individual tendencies. Results - The results of this study provide empirical evidence that learning orientation, relationship marketing orientation, and job commitment all influence franchisees' job satisfaction. The results of this study indicate that, first, learning orientation had a significant effect on job satisfaction; second, relationship marketing orientation was positively related to job commitment; third, job commitment had a significant effect on job satisfaction. We also found that relationship marketing orientation and job satisfaction were mediated by job commitment. Conclusions - The findings of this study confirm the importance of learning orientation and relationship marketing orientation in maintaining a positive marketing relationship between franchiser and franchisee from to the perspective of the market. This indicates that franchiser support such as educational programs provided by the franchiser will help franchisees attain higher business management achievement and satisfaction. Moreover, a positive relationship between franchisees and consumers can be maintained through tie effects. Our findings also suggest that learning orientation plays a critical role in job satisfaction within the franchise system.

• Asia pacific journal of information systems
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• v.21 no.1
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• pp.1-27
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• 2011

In an attempt to cope with widespread, dynamic, and accelerating changes in both internal and external business environments, companies often utilize information technologies such as SCM(Supply Chain Management). To date, SCM research has mainly focused on the effects of dynamic factors on SCM success and emphasized adoption strategies and critical success factors. Consequently, the effects of more static factors such as interdependency between SCM partners have been largely ignored. The purpose of this study, therefore, is to examine the effects of both dynamic and static factors on SCM performance by controlling for information quality and partnership quality. The five factors examined in this study include innovative ness, mutual dependency, quality of information, partnership quality, and SCM performance. All factors were examined from the perspective of part suppliers, except the mutual dependency which was examined from two aspects: supplier's dependency on customer and customer's dependency on supplier. Data was collected through five hundred survey questionnaires distributed to the part supplier companies that have implemented SCM systems for at least one year. As a result, a total of 170 valid responses were obtained. A structural equation research model was fitted using SAS 9.1.3 and SMART-PLS 2.0. The results of this study can be summarized as follows. First, innovativeness positively affected SCM information quality. SCM partnership quality, and ultimately SCM performance. The path coefficient between innovativeness and information quality was 0.387, with a t-value of 3.528. Innovativeness also had a positively direct effect on partnership quality. The path coefficient was 0.351 with a t-value of 3.366. The total effect of innovativeness on partnership quality was significant, although its indirect effect on partnership quality by altering information quality was negligible. The total indirect effect of innovativeness on SCM performance by affecting information quality and partnership quality was significant with a p-value of 0.014. Innovativeness played an important role in determining SCM performance. Second, mutual dependency showed no significant effect on SCM information quality. This result contradicts the earlier assertion that the more dependent two companies are, the more accurate and timely the information they exchange ought to be. This study showed that this may not be the case; a partner may provide information of poor quality even when it is strongly dependent on the other. Mutual dependency showed significant effect on partnership quality. However, when the mutual dependency perceived by suppliers was divided into two parts, one being a supplier's dependency on its customer company and the other being a customer's dependency on the supplier, the latter showed a significant impact on the perceived SCM partnership quality. This result indicates that a customer company can hardly improve the partnership quality perceived by suppliers by making them more dependent. It improves only when the suppliers perceive that their partners, typically having more bargaining power, are more dependent on them. The overall effect of mutual dependency of any kind on SCM performance, however, was not significant. Although mutual dependency has been mentioned as an important static factor influencing almost every aspect of cooperation on a supply chain, its influences may not be as significant as it was initially perceived to be. Third, the correlation between information quality and partnership quality was 0.448 with a p-value of less than 0.001. Information quality had a path coefficient of 0.256 to partnership quality with a t-value of 2.940. The quality of information exchanged between partners may have an impact on their partnership quality. Fourth, information quality also had a significant impact on SCM performance with a path coefficient of 0.325 with a t-value of 3.611. In this study, SCM performance was divided into four categories: product quality, cost saving, service quality, and order fulfillment. Information quality has Significant impacts on product quality, cost saving and service quality, but not on order fulfillment. Fifth, partnership quality, as expected, had a significant impact on SCM performance. The path coefficient was 0.403 with a t-value of 3.539. Partnership quality, like information quality, had positive impacts on product quality, cost saving and service quality, but showed no impact on order fulfillment. It seemed that order fulfillment is the hardest category of performance that SCM can satisfy. One major limitation of this study is that it surveyed only the suppliers. To better understand the dual aspects of SCM, it is important to survey both suppliers and the assemblers, especially in pairs. This research, to our best knowledge, was the first attempt to study the level of dependency between the two groups by measuring the dual aspects of SCM and studying mutual dependency from the categories of suppliers and assemblers each.. In the future, a more comprehensive and precise measurement of SCM characteristics needs to be achieved by examining from both the supplier's and assembler's perspectives.

• Journal of Distribution Science
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• v.11 no.6
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• pp.41-50
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• 2013

Purpose - Inducing consumers' behavioral intent to use an outlet shopping center is a critical issue for managers since it can be used as a guide for developing marketing strategies. Low prices could lead to a growth in retail purchases, but there might also be a positive relationship between prices and customer perceptions of product quality. The extent to which consumers use price as a predictor of quality may differ according to the availability of important alternative cues such as brand, store name, and identity salience triggered by the store. Consumers can obtain non-economic benefits from marketing exchanges that go beyond basic economic achievement. We argue that identity salience can play a crucial mediating role when consumers, acting as exchange partners, seek to obtain social benefits. This study shows that identity salience could mediate the relationship between identity salience-inducing factors such as multi-finality, prestige and role performance, and consumers' behavioral intent to use an outlet shopping center. Research design, data and methodology - The survey was conducted on college students enrolled in marketing classes. A total of 200 questionnaires were distributed, of which only 194 were returned. After five incomplete questionnaires were excluded, a final sample of 189 was used for empirical analysis. Using a covariance structural analysis in Amos17, we confirmed the fit of the research model and estimated its parameters by using the maximum likelihood method. Results - The results of the hypotheses testing are as follows. First, both identity salience and economic benefits have positive effects on the behavioral intent to use an outlet shopping center. Second, role performance, prestige, and multi-finality have positive effects on identity salience. Finally, the additive analysis of the direct effects of identity salience-inducing factors shows that the role performance, prestige, and multi-finality factors have no direct effects on the behavioral intent to use an outlet shopping center, suggesting that identity salience plays a positive mediating role. Conclusions - This study informs marketers that not only price but shoppers' identity salience directly affects their intent to visit an outlet shopping center. To strengthen shoppers' identity salience, marketers should find ways to help shoppers fulfill their multiple social roles, realize their multiple goals, and achieve prestige. In other words, outlet shopping centers must improve their personal service environment in order to enhance their employees' service quality and assist the execution of multi-finality by minimizing the perceived costs (e.g., travel time, effort) associated with shopping trips, thus making it easier for consumers to combine visits to multiple stores in outlet shopping centers and buy the items required for their consumption goals. Outlet shopping centers must also offer assortments with both breadth and depth in order to help consumers play the social roles their social networks have given them.

• Journal of Distribution Science
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• v.13 no.5
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• pp.53-60
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• 2015

Purpose - The purpose of this paper is to shed light on the importance of the slope and curvature of the volatility curve implied in option prices in the KOSPI 200 options index. A number of studies examine the implied volatility curve, however, these usually focus on cross-sectional characteristics such as the volatility smile. Contrary to previous studies, we focus on time-series characteristics; we investigate correlation dynamics among slope, curvature, and level of the implied volatility curve to capture market information embodied therein. Our study may provide useful implications for investors to utilize current market expectations in managing portfolios dynamically and efficiently. Research design, data, and methodology - For our empirical purpose, we gathered daily KOSPI200 index option prices executed at 2:50 pm in the Korean Exchange distribution market during the period of January 2, 2004 and January 31, 2012. In order to measure slope and curvature of the volatility curve, we use approximated delta distance; the slope is defined as the difference of implied volatilities between 15 delta call options and 15 delta put options; the curvature is defined as the difference between out-of-the-money (OTM) options and at-the-money (ATM) options. We use generalized method of moments (GMM) and the seemingly unrelated regression (SUR) method to verify correlations among level, slope, and curvature of the implied volatility curve with statistical support. Results - We find that slope as well as curvature is positively correlated with volatility level, implying that put option prices increase in a downward market. Further, we find that curvature and slope are positively correlated; however, the relation is weakened at deep moneyness. The results lead us to examine whether slope decreases monotonically as the delta increases, and it is verified with statistical significance that the deeper the moneyness, the lower the slope. It enables us to infer that when volatility surges above a certain level due to any tail risk, investors would rather take long positions in OTM call options, expecting market recovery in the near future. Conclusions - Our results are the evidence of the investor's increasing hedging demand for put options when downside market risks are expected. Adding to this, the slope and curvature of the volatility curve may provide important information regarding the timing of market recovery from a nosedive. For financial product distributors, using the dynamic relation among the three key indicators of the implied volatility curve might be helpful in enhancing profit and gaining trust and loyalty. However, it should be noted that our implications are limited since we do not provide rigorous evidence for the predictability power of volatility curves. Meaning, we need to verify whether the slope and curvature of the volatility curve have statistical significance in predicting the market trough. As one of the verifications, for instance, the performance of trading strategy based on information of slope and curvature could be tested. We reserve this for the future research.