• Journal of Korea Port Economic Association
• /
• v.37 no.2
• /
• pp.119-131
• /
• 2021

Energy is an essential element in economic activity and people's lives, an important resource used by various industries, and the financialization of commodity markets has led to the growing importance of crude oil turning into the same asset as other assets. Accordingly, studies analyzing the correlation between energy prices and investor sentiment explain that investor sentiment affects oil prices through economic factors and speculation. In this study, we wanted to analyze whether the impact of the most representative changes in oil prices affects investor decision making, affecting investor sentiment, and applying wavelet consistency analysis to determine how energy prices relate to investor sentiment. Studies show that policies should be focused on policy and market changes because energy prices differ by time scale and investment sentiment should be more influential in the long term than in the short term.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.15 no.5
• /
• pp.1-11
• /
• 2020

Increasing the number of unicorn startups has recently received much attention. In this study, we attempt to investigate that startups achieving an extremely high valuation could postpone their exit to raise more investment and receive more benefits. This study tested the hypotheses using data from Crunchbase, World Bank, Global Competitiveness Report, and Global Entrepreneurship Monitor. Using 140 unicorn startups that have already exited through an initial public offering (IPO) or mergers and acquisitions (M&A), we find out that unicorn startups tend to acquire higher valuation as their investment duration increases. Furthermore, we also examined the moderating effects of governmental policy and institutional distance from foreign investors in order to consider the institutional aspects of startups. The results of the moderating variables show significant supports. We expect to provide a better understanding with respect to making an exit decision of unicorn startups. Furthermore, managers and investors need to acknowledge the institutional factors of startups when they decide to fund.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.33 no.11
• /
• pp.1719-1732
• /
• 2009

A firm seeking to enter a foreign market must make an important strategic decision of which market entry mode to use. Because entry modes involve resource commitments, the initial choice by a firm on a particular entry mode is difficult to change without a considerable loss of time and money. Substantial prior research has been undertaken to explain why firms select a particular entry mode into global markets. However, there exists limited research on this area in the field of foreign apparel brands in Korea, although some research has analyzed influential entry mode factors when Korean textile and clothing companies went overseas. This study reviews prior research on the entry mode choice and analyzes the factors that influence the entry mode choice for 510 foreign clothing brands in Korea. Price range, clothing types, distribution strategy, and cultural distance were considered as influential determinants for different entry mode choices. Crosstabs with a chi-square test and logistic regression are used for analysis. This study shows that high-priced brands and luxury brands are associated with the export orientated entry mode in the Korean market. Brands that pursued the strategy of multiple distribution channels showed a preference for a licensing mode or direct investment over other entry modes, and brands from higher-cultural-distance countries entered the Korean clothing market by licensing mode. The findings of this study are appropriate for the strategic planning of foreign apparel intent on entering the Korean market or for Korean apparel firms planning to enter the global market.

• Journal of Institute of Control, Robotics and Systems
• /
• v.7 no.10
• /
• pp.867-873
• /
• 2001

The purpose of this study is to find analytic solution of determining the optimal capacity (lot-size) of multiproduct acyclic multistage production and inventory system to meet the finished product demand under the constraint of finite intermediate storage. Intermediate storage is a practical way to mitigate the material flow imbalance through the line of supply and demand chain. However, the cost of constructing and operating storage facilities is becoming substantial because of increasing land value, environmental and safety concern. Therefore, reasonable decision-making about the capacity of processes and storage units is an important subject for industries. The industrial solution for this subject is to use the classical economic lot sizing method, EOQ/EPQ(Economic Order Quantity/Economic Production Quantity) model, incorporated with practical experience. But EOQ/EPQ model is not suitable for the chemical plant design with highly interlinked processes and storage units because it is developed based on single product and single stage. This study overcomes the limitation of the classical lot sizing method. The superstructure of the plant consists of the network of serially and/or parallelly interlinked non-continuous processes and storage units. The processes transform a set of feedstock materials into another set of products with constant conversion factors. A novel production and inventory analysis method, PSW(Periodic Square Wave) model, is applied to describe the detail material flows among equipments. The objective function of this study is minimizing the total cost composed of setup and inventory holding cost. The advantage of PSW model comes from the fact that the model provides a set of simple analytic solutions in spite of realistic description of the material flows between processes and storage units. the resulting simple analytic solution can greatly enhance the proper and quick investment decision for the preliminary plant design problem confronted with economic situation.

• Journal of the Korean association of regional geographers
• /
• v.8 no.1
• /
• pp.40-64
• /
• 2002

The locational characteristics of ceramic industry in Miryang city, Kyongnam province, were clarified by means of examining the process of its formation, spatial variation, locations and their changes. The government policy on industry and the business fluctuation are important in the quantitative changes of the industry. The spatial variation of industry toward the outer part of area are the results of equilibrium between the decrease of firms in inner city and the increase of firms in outer part. The births and deaths of firms played important role in the processes of spatial variations. The industry location has lasted by the accumulation of location decision of 'potential entrepreneurs' who learned knowledges on the industry and had personal contacts with the business-related persons for long time. The main factors on the locational decision of firms are personal factor, raw materials, land, water and market. The locational problems have mainly related with plant expansion, land, marketing, labour and capital. They caused investment changes and caused relocations of firms. Such disadvantages as raw material exhaustion, shortage of land and congestion within the agglomeration area, development of road transportation and local government policy on industry location, induced recent decentralization of industry to outer part.

• Journal of Digital Convergence
• /
• v.8 no.2
• /
• pp.203-216
• /
• 2010

This study corresponds to an exploratory survey that identifies and organizes important decision factors for establishing R&D strategic portfolio in the application of digitalized Korean human-dataset. In the case of countries that have performed the above, the digitalized human-dataset and its visualization application development research are regarded as strategic R&D projects selected and supervised in national level. To achieve the goal of this study, we organize a professional group that reviews articles, suggests research topics, considers alternatives and answers questionnaires. With this study, we draw and refine the detailed factors; these are reflected during a strategic planning phase that includes R&D vision setting, SWOT analysis and strategy development, research area and project selection. In addition to this contribution for supporting the strategic planning, the study also shows the detailed research area's definition/scope and their priorities in terms of importance and urgency. This addition will act as a guideline for investigating further research and as a framework for assessing the current status of research investment.

• Journal of Institute of Control, Robotics and Systems
• /
• v.19 no.6
• /
• pp.563-568
• /
• 2013

The purpose of this study is to find the analytic solution for determining the optimal capacity (lot-size) of a batch-storage network to meet the finished product demand under infrequent shutdowns. Batch processes are bound to experience random but infrequent operating time losses. Two common remedies for these failures are duplicating another process or increasing the process and storage capacity, both of which are very costly in modern manufacturing systems. An optimization model minimizing the total cost composed of setup and inventory holding costs as well as the capital costs of constructing processes and storage units is pursued with the framework of a batch-storage network of which flows are susceptible to infrequent shutdowns. The superstructure of the plant consists of a network of serially and/or parallel interlinked batch processes and storage units. The processes transform a set of feedstock materials into another set of products with constant conversion factors.A novel production and inventory analysis method, the PSW (Periodic Square Wave) model, is applied. The advantage of the PSW model stems from the fact it provides a set of simple analytic solutions in spite of a realistic description of the material flow between processes and storage units. The resulting simple analytic solution can greatly enhance a proper and quick investment decision at the early plant design stagewhen confronted with diverse economic situations.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.19 no.2
• /
• pp.159-179
• /
• 2024

Based on the case of collaboration between large companies and startups, this study suggests the importance of establishing mutual cooperation and trust relationships for the success of open innovation strategy from the perspective of cooperative game theory. It also provides implications for how this can be implemented. Due to information asymmetry and differences in organizational culture and decision-making structures between large companies and startups, collaboration is likely to proceed in the form of non-cooperative games among players in general open innovation, leading to the paradox of open innovation, which lowers the degree of innovation. Accordingly, this study conducted a case study on collaboration between large company 'G' and startup 'S' based on the research question "How did we successfully promote open innovation through cooperative game-type collaboration?" The study found that successful open innovation requires (1) setting clear collaboration goals to solve the organizational problem between large companies and startups, (2) supporting human resources for qualitative growth of startups to solve reliability problems, (3) leading to strategic investment and joint promotion of new projects to solve the profit distribution problem. This study is significant in that it contributes to expanding the discussion of the success factors of open innovation to the importance of interaction and strategic judgment considering the organizational culture and decision-making structure among players, and empirically confirming the success conditions of open innovation from the perspective of cooperative game theory.

• Journal of the Korean Society of Industry Convergence
• /
• v.24 no.6_2
• /
• pp.861-872
• /
• 2021

An efficient cost management is important for the domestic social overhead capital(SOC) based on a long lifecycle after 30 years since completion. Maintenance in South Korea have had the restrictions of consistency and suitability of decision-making by the establishment of a budget plan based on the company estimate and repair and reinforcement methods determined by the inspection and diagnosis engineers' subjective determination for each facility. To resolve this issue, the Korea Institute of Civil Engineering and Building Technology is currently in development of a methodology to propose an optimum maintenance method according to the damage of components by artificial intelligence. This study has deduced the primary factors by analyzing information generated during bridge maintenance and management as a prior step for the development of technologies, and conducted a preliminary analysis to select the optimum artificial intelligence technology.

• Korea Journal of Hospital Management
• /
• v.5 no.2
• /
• pp.22-39
• /
• 2000

The purpose of this study was to determine the difference between estimated profit and utilization of medical equipment upon purchasing and actual results at one teaching hospital in Seoul, Korea Medical equipments over $100,000 from 1992 to 1997 were selected and results were as follows: 1. Twenty equipments out of thirty exceeded estimated profits and the difference was 3.98 billion won and ten equipments did not reach the estimated profits and 5.5 billion won was the difference. Diagnostic equipment exceeded the estimated profit which surgical equipment didn't. 2. Eleven equipments exceeded estimated utilization, which showed 100%. In the mean time, eighteen equipments didn't reach the estimated utilization, which was 71%. Diagnostic equipment showed the less estimated utilization than surgical equipment 3. Twenty-one equipments showed the 6.83 billion won profits and nine equipments showed the 1.6 billion won deficits. Diagnostic equipment was more profitable than surgical equipment. Finally. diagnostic equipment helped improving hospital management than surgical equipment. 4. Main factors which showed the big difference from the initial plan were lacking reasonable estimated method, no evaluation system for purchase, emphasis in medical treatment, excessive expenditure in maintenance, duplicated investment for medical equipment and leadership commitment. As a result. Substantial planning is required from the requesting department in consideration of estimated profit and utilization and systematic quality control is needed to confirm. Also, One-sided decision making should be avoided to purchase a high cost medical equipment and efforts should be made in examining carefully and developing a reasonable analytic method.