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Understanding the Relationship between Value Co-Creation Mechanism and Firm's Performance based on the Service-Dominant Logic (서비스지배논리하에서 가치공동창출 매커니즘과 기업성과간의 관계에 대한 연구)

  • Nam, Ki-Chan;Kim, Yong-Jin;Yim, Myung-Seong;Lee, Nam-Hee;Jo, Ah-Rha
    • Asia pacific journal of information systems
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    • v.19 no.4
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    • pp.177-200
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    • 2009
  • AIn the advanced - economy, the services industry hasbecome a dominant sector. Evidently, the services sector has grown at a much faster rate than any other. For instance, in such developed countries as the U.S., the proportion of the services sector in its GDP is greater than 75%. Even in the developing countries including India and China, the magnitude of the services sector in their GDPs is rapidly growing. The increasing dependence on service gives rise to new initiatives including service science and service-dominant logic. These new initiatives propose a new theoretical prism to promote the better understanding of the changing economic structure. From the new perspectives, service is no longer regarded as a transaction or exchange, but rather co-creation of value through the interaction among service users, providers, and other stakeholders including partners, external environments, and customer communities. The purpose of this study is the following. First, we review previous literature on service, service innovation, and service systems and integrate the studies based on service dominant logic. Second, we categorize the ten propositions of service dominant logic into conceptual propositions and the ones that are directly related to service provision. Conceptual propositions are left out to form the research model. With the selected propositions, we define the research constructs for this study. Third, we develop measurement items for the new service concepts including service provider network, customer network, value co-creation, and convergence of service with product. We then propose a research model to explain the relationship among the factors that affect the value creation mechanism. Finally, we empirically investigate the effects of the factors on firm performance. Through the process of this research study, we want to show the value creation mechanism of service systems in which various participants in service provision interact with related parties in a joint effort to create values. To test the proposed hypotheses, we developed measurement items and distributed survey questionnaires to domestic companies. 500 survey questionnaires were distributed and 180 were returned among which 171 were usable. The results of the empirical test can be summarized as the following. First, service providers' network which is to help offer required services to customers is found to affect customer network, while it does not have a significant effect on value co-creation and product-service convergence. Second, customer network, on the other hand, appears to influence both value co-creation and product-service convergence. Third, value co-creation accomplished through the collaboration of service providers and customers is found to have a significant effect on both product-service convergence and firm performance. Finally, product-service convergence appears to affect firm performance. To interpret the results from the value creation mechanism perspective, service provider network well established to support customer network is found to have significant effect on customer network which in turn facilitates value co-creation in service provision and product-service convergence to lead to greater firm performance. The results have some enlightening implications for practitioners. If companies want to transform themselves into service-centered business enterprises, they have to consider the four factors suggested in this study: service provider network, customer network, value co-creation, and product-service convergence. That is, companies becoming a service-oriented organization need to understand what the four factors are and how the factors interact with one another in their business context. They then may want to devise a better tool to analyze the value creation mechanism and apply the four factors to their own environment. This research study contributes to the literature in following ways. First, this study is one of the very first empirical studies on the service dominant logic as it has categorized the fundamental propositions into conceptual and empirically testable ones and tested the proposed hypotheses against the data collected through the survey method. Most of the propositions are found to work as Vargo and Lusch have suggested. Second, by providing a testable set of relationships among the research variables, this study may provide policy makers and decision makers with some theoretical grounds for their decision making on what to do with service innovation and management. Finally, this study incorporates the concepts of value co-creation through the interaction between customers and service providers into the proposed research model and empirically tests the validity of the concepts. The results of this study will help establish a value creation mechanism in the service-based economy, which can be used to develop and implement new service provision.

Development of an Automatic Liquid Feeder for Early Weaned Piglets (조기이유 자돈용 액상사료 자동급이기 개발)

  • 유용희;정일병;안정대;이덕수;강희설;최희철;전병수;박홍석
    • Journal of Animal Environmental Science
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    • v.7 no.1
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    • pp.1-12
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    • 2001
  • This study was conducted to develope an automatic liquid feeder for early weaning piglets and to test the efficacy of the system. The liquid feeder consists of water heating and discharge unit, dry diet storing and discharge unit, mixing and discharge unit, mixed liquid feed-delivering unit, and the central control part which control each unit, feeding frequency and the amount of feeding. For investigating the possibility of practical use, a feeding trial was carried out using eighteen three way crossbred piglets weaned on 19 days of age for the experimental period of six weeks. Experimental diet was provided in liquid form using the automatic liquid feeder for the first three weeks and in dry form for the later three weeks. The water heating and discharge unit exactly supplied warm water by 27 $m\ell$/s, into the mixing unit. The dry diet storing and discharge unit supplied dry feed by 3.7g/s, into the mixing unit. Being compared with the standard growth rate suggested by NRC, average daily gain of the piglets during the first three weeks of liquid feeding was lower by 10%, while it was higher during three weeks of dry feeding and over the whole experimental period by 24 and 17%, respectively. Feed/gain was 1.09, 2.14 and 1.89 for the first 3 weeks, later 3 weeks, and whole period, respectively. Diarrhea was observed for three days from day 3 to day 7 after feeding liquid diet, but no pig died of it. In conclusion, a preliminary test for the newly developed an automatic liquid feeder using 19 days of age weaning piglets showed that the unit was successfully operated without any major problems. Piglets raised on a liquid diet through the unit developed grew less during the first three weeks, but their growth and feed intake were greatly improved thereafter, indicating the developed automatic liquid feeder may be practically used in swine industry.

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Ecological Studies on the Burned Forest -On the Productivity System of the Burned Forest- (산화적지(山火跡地)의 생태학적(生態學的) 연구(硏究) -산화후(山火後) 임지(林地)의 생산구조(生産構造)에 대(對)하여-)

  • Kim, Ok Kyung;Chong, Hyon Pae
    • Journal of Korean Society of Forest Science
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    • v.12 no.1
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    • pp.45-54
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    • 1971
  • Ecological studies on the effect of an accidental fire on the composition of the post-fire vegetation in relation to the productivity system were made at the burned site on Mt. Samak located at Duckduwon-Ri, Sumyun, Chun Sung-Kun, Kangwon-Do, the same plots used in the previous study carried out in 1967. The result are summarized as follows. 1. In the productivity system, the standing crop measured was as follows; Carex Lanceolata var. Nana, Miscanthus purpurscens etc. were contained in the herbs and their individual number was larger than that of the woody plants. (Table 1). In the woody plants, Quercus Acutissima was the most abundant, showing larger number of tree than Quercus dentata. The S.D.R. value of the family Poaceae was the highest among the herbs and in the test plots, it was 4 times larger in number than in the controlled plots. (Table 3, Fig. 4, 5). 2. In the unburned sities, 5 dominant species were selected and by calculating their S.D.R., it was shown that woody plants, S.D.R. is 4.43 while it is 11.52 with herbs. (Table 4, Fig. 6). 3. When making comparisons with the standing crop on the higher around, it was found that the test plots had 522.45 gm more than the controlled and 1470. 53gm more than those on lower ground. These results were considered to indicate that high temperature caused by fire resulted in the increase of germination rate of seeds as it was seen in the previous study and it further stimulate the growth of the perennial plants. (Table 6, 7) 4. In the number of species, the standing crop was increased in the order of Genus Miscanthus and Genus Carex. and in the woody plants Genus Lespedeza was increased in the standing crop. 5. It was found that in the rest plots, total summed height was greater by about 6000cm than that in the controlled plots. 6. In conclusion, the forest fire gave a great loss to tall trees and woody plants burning them together with unmatured seeds. In the succession of the 2nd year it was considered that the growth of the perennial plants had been stimulated on the barned sites.

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A Comparison of Discriminating Powers between 13 Microsatellite Markers and 37 Single Nucleotide Polymorphism Markers for the Use of Pork Traceability and Parentage Test of Pigs (돼지 개체식별 및 친자감별을 위한 13 microsatellite marker와 37 single nucleotide polymorphism marker 간의 효율성 비교)

  • Lee, Jae-Bong;Yoo, Chae-Kyoung;Jung, Eun-Ji;Lee, Jung-Gyu;Lim, Hyun-Tae
    • Journal of agriculture & life science
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    • v.46 no.5
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    • pp.73-82
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    • 2012
  • Allele information from the analysis of the 13 microsatellite (MS) markers, were classified into the $F_0$, $F_1$ and $F_2$ generations, and probabilities of the same individual emergency in each generation was calculated. As a result, the 13 MS markers showed an estimate of $3.84{\times}10^{-23}$ on the premise of the randomly mated group of $F_2$, which implies that the same individuals may emerge by the use of 37 kinds of SNP markers. In this study, the experimental pigs were intercross between only 2 breeds (Korean native pig and Landrace). In addition, the success rate of paternity tests was analyzed on the whole group, by the use of the 13 MS markers and 37 SNP markers. As regards the exclusionary power of the second parent ($PE_{pu}$), MS markers and SNP markers showed 0.97897 and 0.99149, respectively. In relation to the parent exclusion power of both parent (PE), MS markers and SNP markers showed 0.99916 and 0.99949, respectively. In the case of the estimate to identify parental candidates that had the highest probability ($PNE_{pp}$), the two showed 1.00000 all. The Korean pig industry tends to mass produce hogs with limited numbers of alleles in limited parents. Such being the case, there is a need to organize a marker, for which it is imperative to find markers with high efficiency and high economic feasibility of the characteristics of DNA markers, sample size, the accuracy and expenses of genotyping cost, the manageability of data and the compatibility among analysis systems.

A New Six-rowed and Covered Barley Cultivar, "Hyedang" with Lodging Tolerance and High-Yield (내도복 다수성 겉보리 신품종 "혜당")

  • Kim, Yang-Kil;Baek, Seong-Bum;Kim, Jung-Gon;Lee, Mi-Ja;Kim, Mi-Jung;Kim, Hong-Sik;Park, Jong-Chul;Hyun, Jong-Nae;Suh, Sae-Jung;Kim, Si-Ju;Kim, Jae-Chul;Jeung, Jai-Hyun;Choi, Jae-Seong
    • Korean Journal of Breeding Science
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    • v.41 no.4
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    • pp.630-634
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    • 2009
  • "Hyedang", a new covered cultivar derived from the crosses between "Suwon300" and "Haganemugi//CI08397/Haganemugi" developed at the Honam Agricultural Research Institute (HARI), NICS, RDA in 2007. The origin of "Hyedang" is "Iksan 407" (SB951033-B-B-B-72). The initial cross was made in 1995 and the selected line showed a high yield and good quality characteristics under yield trial test in 2004. "Iksan407" consistently performed well for three years (2005-2007) from the four locations of regional yield trial (RYT) in Korea and released as "Hyedang". The characteristics of "Hyedang" were the following: rate III growth habit, green leaf and stem, compact spike and with long rough awns. The heading date was April 25 in upland and April 17 in paddy field, which was 2 and 3 days earlier than that of check cultivar, "Olbori". The culm length was 80 cm which was 8 cm shorter than those of check cultivar. It showed spike length of 4.3 cm and 696 spikes per $m^2$, 51 grains per spike, 35.0 g of 1,000 grain weight and 704 g of test weight. It showed stronger winter hardiness and higher resistance to barley yellow mosaic virus (BaYMV) than those with check cultivar. It showed similar protein content and higher whiteness than those of the check cultivar and diastatic power was higher than that of Olbori. The average yield of the pearled grain in the RYT was $4.17ton\;ha^{-1}$ in upland and $4.27ton\;ha^{-1}$ in paddy field, which was 23% and 9% higher than that of the check cultivar, respectively. This cultivar would be suitable for the area above the daily minimum mean temperature of $-8^{\circ}C$ in January in Korean peninsula.

Factor Analysis Affecting on Changes in Handysize Freight Index and Spot Trip Charterage (핸디사이즈 운임지수 및 스팟용선료 변화에 영향을 미치는 요인 분석)

  • Lee, Choong-Ho;Kim, Tae-Woo;Park, Keun-Sik
    • Journal of Korea Port Economic Association
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    • v.37 no.2
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    • pp.73-89
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    • 2021
  • The handysize bulk carriers are capable of transporting a variety of cargo that cannot be transported by mid-large size ship, and the spot chartering market is active, and it is a market that is independent of mid-large size market, and is more risky due to market conditions and charterage variability. In this study, Granger causality test, the Impulse Response Function(IRF) and Forecast Error Variance Decomposition(FEVD) were performed using monthly time series data. As a result of Granger causality test, coal price for coke making, Japan steel plate commodity price, hot rolled steel sheet price, fleet volume and bunker price have causality to Baltic Handysize Index(BHSI) and charterage. After confirming the appropriate lag and stability of the Vector Autoregressive model(VAR), IRF and FEVD were analyzed. As a result of IRF, the three variables of coal price for coke making, hot rolled steel sheet price and bunker price were found to have significant at both upper and lower limit of the confidence interval. Among them, the impulse of hot rolled steel sheet price was found to have the most significant effect. As a result of FEVD, the explanatory power that affects BHSI and charterage is the same in the order of hot rolled steel sheet price, coal price for coke making, bunker price, Japan steel plate price, and fleet volume. It was found that it gradually increased, affecting BHSI by 30% and charterage by 26%. In order to differentiate from previous studies and to find out the effect of short term lag, analysis was performed using monthly price data of major cargoes for Handysize bulk carriers, and meaningful results were derived that can predict monthly market conditions. This study can be helpful in predicting the short term market conditions for shipping companies that operate Handysize bulk carriers and concerned parties in the handysize chartering market.

Basic Analysis of Metabolic Parameters by using Metabolic Profile Test (MPT) for Improvement Breeding in Korean Native Cow (한우의 번식률 개선을 위한 영양대사물질 기초분석)

  • Kang, Sung-Sik;Kim, Ui-Hyung;Lee, Seok-Dong;Lee, Myeong-Suk;Kwon, Eun-Ki;Jang, Sun-Sik;Cho, Sang-Rae
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.38 no.4
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    • pp.331-336
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    • 2018
  • The aim of the present study was to identify the metabolic changes that have occurred in Hanwoo Native Cow. Analysis of serum metabolites was carried out to investigate relationship of pregnancy rate and feeding systems. Totally, 281 cows were used for grazing and barn feeding. Grazing was carried out for 5 months in the pasture. In barn feeding, concentrate 3.0 Kg(TDN 68%, CP 14%) and rice straw 6 kg(TDN 50%, CP 6.5%) were fed. Artificial insemination(AI) carried out by timed AI procedure. The level of glucose(mg/dl), cholesterol(mg/mL), BUN(mg/dl), AST(U/l), ALT(U/l), and NEFA(uEq/l) were analyzed. In Table 1, barn feeding with 120% group was showed high Cholesterol and BUN levels compared those with 80% feeding group(p<0.05). In Table 2, 60 pregnant cows in grazing herd showed low Cholesterol, AST and NEFA levels compared to 43 non-pregnant cows($149.8{\pm}4.9$, $99.1{\pm}2.6$, $326.7{\pm}15.7$ vs. $165.9{\pm}4.6$, $108.9{\pm}3.2$, $419.2{\pm}32.8$, respectively, p<0.05). In Table 3, 126 grazing feeding cows showed high Glucose, Cholesterol, AST, ALT, and NEFA levels compared to 22 barn feeding cows($84.8{\pm}1.3$, $142.5{\pm}2.5$, $97.7{\pm}2.3$, $34.3{\pm}0.5$, $317.8{\pm}13.6$ vs. $56.0{\pm}1.3$, $128.9{\pm}4.6$, $80.9{\pm}2.0$, $27.1{\pm}0.9$, $160.2{\pm}18.9$, respectively, p<0.05). Further study needed to obtain more accurate level of metabolites in serum for pregnant and non-pregnant cows.

A Study on the Correlation between Lung Ventilation Scan using Technegas and Pulmonary Function Test in Patients with COPD (Technegas를 이용한 폐환기 검사와 폐기능 검사의 상관관계에 관한 고찰)

  • Kim, Sang-Gyu;Kim, Jin-Gu;Baek, Song-EE;Kang, Chun-Koo;Kim, Jae-Sam
    • The Korean Journal of Nuclear Medicine Technology
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    • v.23 no.1
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    • pp.45-49
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    • 2019
  • Purpose Lung Ventilation Scan(LVS) images directly inhaled radiation gas to evaluate lung ventilation ability. Therefore, it is influenced by various factors related to inhalation, including number of breaths, respiratory duration, respiration rate, and breathing method. In actual LVS examinations, it is difficult for objectify the patient's ability to inhale, and there is currently no known index related to inhalation. Therefore, this study confirms the correlation between counts per second(cps) in LVS and the results of pulmonary function test(PFT) and evaluate its usefulness as an objective indicator of inhalation. Materials and Methods From October 2010 to September 2018, 36 Chronic Obstructive Pulmonary Disease(COPD) patients who had both LVS and PFT were classified by severity(Mild, Moderate, Severe). LVS was performed by creating Technegas with Vita Medical's Technegas Generator and inhaling it to the patient. LVS images were acquired with Philips's Forte equipment., and PFT used Carefusion's Vmax Encore 22. The correlation between the cps measured by setting the region of interest(ROI) of both lungs on the LVS and the forced vital capacity(FVC), forced expiratory volume in one second($FEV_1$), $FEV_1/FVC$ of the results of PFT was compared and analyzed. Results We analyzed the correlation between cps of LVS using Technegas and the results of PFT by classifying COPD patients according to severity. Correlation coefficient between $FEV_1/FVC$ and cps was Severe -0.773, Moderate -0.750, and Mild -0.437. The Severe and Modulate result values were statistically significant(P<0.05) and Mild was not significant(P=0.155). On the other hand, the correlation coefficient between FVC and cps was statistically significant only in Mild and it was 0.882(P<0.05). Conclusion According to the study, we were able to analyze correlation between cps of LVS using Technegas and the results of PFT in COPD Patients. Using this result, when performing a LVS, the results of PFT can be used as an index of inhaling capacity. In addition, it is thought that it will be more effective for the operation of the exam rooms.

Consistency Analysis of Intermediate Soil Based on the Fines Contents (세립분 함유율에 따른 중간토의 컨시스턴시 분석)

  • Oh, Sewook;Bae, Wooseok;Bang, Seongtaek
    • Journal of the Korean GEO-environmental Society
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    • v.22 no.6
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    • pp.17-26
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    • 2021
  • Ground investigation and result analysis generally used to examine all sorts of structures' subsidence or stability can be classified into sandy soil and cohesive soil, and analysis on the liquid limit of soil is utilized to evaluate the physical properties of ground and types or technical behavior of soil. The most widely used method to analyze liquid limit is Casagrande with which liquid limit can be calculated relatively easily; however, it is fairly difficult to apply it to soil equipped with intermediate properties. Therefore, concerning the properties of soil having the intermediate properties of sedimentary ground, this researcher mixed the clay from Yangsan, Gwangyang, and Busan with sandy soil to make intermediate soil and then carried out the test of consistency limit and also evaluated applicability by using the suggested formula of consistency revision. The sample of intermediate soil was the mixture of clay and sandy soil, and to produce intermediate soil, the content (Fc) of fine soil was applied as 50%, 75%, or 100%. Regarding the physical properties of intermediate soil, to maintain the properties of clay in the natural state, bentonite was added at a fixed rate for controlling the properties of clay, and then, consistency was analyzed. By adopting the formula of consistency revision suggested in advanced research, this author analyzed consistency based on the experiment and consistency based on the suggested formula of revision. Also, about intermediate soil collected at the site, consistency based on the experiment and consistency based on the suggested formula of revision were analyzed comparatively, and about intermediate soil collected, this researcher analyzed particle size and calculated the content (Fc) of fine soil to analyze intermediate soil in diverse conditions. Moreover, about intermediate soil collected at the site, the suggested formula of consistency revision was applied to calculate the compression index, and the compression index based on the experiment and the compression index based on the suggested formula were analyzed comparatively to evaluate the applicability of the suggested formula.

The prediction of the stock price movement after IPO using machine learning and text analysis based on TF-IDF (증권신고서의 TF-IDF 텍스트 분석과 기계학습을 이용한 공모주의 상장 이후 주가 등락 예측)

  • Yang, Suyeon;Lee, Chaerok;Won, Jonggwan;Hong, Taeho
    • Journal of Intelligence and Information Systems
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    • v.28 no.2
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    • pp.237-262
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    • 2022
  • There has been a growing interest in IPOs (Initial Public Offerings) due to the profitable returns that IPO stocks can offer to investors. However, IPOs can be speculative investments that may involve substantial risk as well because shares tend to be volatile, and the supply of IPO shares is often highly limited. Therefore, it is crucially important that IPO investors are well informed of the issuing firms and the market before deciding whether to invest or not. Unlike institutional investors, individual investors are at a disadvantage since there are few opportunities for individuals to obtain information on the IPOs. In this regard, the purpose of this study is to provide individual investors with the information they may consider when making an IPO investment decision. This study presents a model that uses machine learning and text analysis to predict whether an IPO stock price would move up or down after the first 5 trading days. Our sample includes 691 Korean IPOs from June 2009 to December 2020. The input variables for the prediction are three tone variables created from IPO prospectuses and quantitative variables that are either firm-specific, issue-specific, or market-specific. The three prospectus tone variables indicate the percentage of positive, neutral, and negative sentences in a prospectus, respectively. We considered only the sentences in the Risk Factors section of a prospectus for the tone analysis in this study. All sentences were classified into 'positive', 'neutral', and 'negative' via text analysis using TF-IDF (Term Frequency - Inverse Document Frequency). Measuring the tone of each sentence was conducted by machine learning instead of a lexicon-based approach due to the lack of sentiment dictionaries suitable for Korean text analysis in the context of finance. For this reason, the training set was created by randomly selecting 10% of the sentences from each prospectus, and the sentence classification task on the training set was performed after reading each sentence in person. Then, based on the training set, a Support Vector Machine model was utilized to predict the tone of sentences in the test set. Finally, the machine learning model calculated the percentages of positive, neutral, and negative sentences in each prospectus. To predict the price movement of an IPO stock, four different machine learning techniques were applied: Logistic Regression, Random Forest, Support Vector Machine, and Artificial Neural Network. According to the results, models that use quantitative variables using technical analysis and prospectus tone variables together show higher accuracy than models that use only quantitative variables. More specifically, the prediction accuracy was improved by 1.45% points in the Random Forest model, 4.34% points in the Artificial Neural Network model, and 5.07% points in the Support Vector Machine model. After testing the performance of these machine learning techniques, the Artificial Neural Network model using both quantitative variables and prospectus tone variables was the model with the highest prediction accuracy rate, which was 61.59%. The results indicate that the tone of a prospectus is a significant factor in predicting the price movement of an IPO stock. In addition, the McNemar test was used to verify the statistically significant difference between the models. The model using only quantitative variables and the model using both the quantitative variables and the prospectus tone variables were compared, and it was confirmed that the predictive performance improved significantly at a 1% significance level.