• 한국경영과학회:학술대회논문집
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• 대한산업공학회/한국경영과학회 2000년도 춘계공동학술대회 논문집
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• pp.330-336
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• 2000

This paper discusses the potential of system dynamics modelling to support balanced scorecard. The balanced scorecard is a conceptual framework for translating an organisation's strategy into a set of performance indicators. These performance indicators are distributed across the 'classic'model's four perspective: Customers, Internal Business Processes, Financial, and Learning and Growth. This balanced scorecard, whilst having significant strength, suffers from the limitation of all performance indicator systems, namely that the interrelationships between indicators are overlooked and there is no way of taking into account the impact of delayed feedback which flows from introduction of new policy and legislative changes. System Dynamics is a methodology for understanding complex problems where there is dynamic behaviour and where feedback impacts significantly on system outcomes. System dynamics provides a rigorous basis for qualitative testing of the effects of performance indicators in complex environments such as health or social security. This can be supplemented with quantitative system dynamics simulation tools that further test the validity of indicators and the business rules implicit in them. System dynamics modelling has an important role to play in extending feedback cycle in performance measurements to a full systems approach.

• Management Science and Financial Engineering
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• 제16권3호
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• pp.85-93
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• 2010

Given an undirected network with a set of source-sink pairs, we are assumed to get a benefit if a pair of source and sink nodes are connected. The k-edge survivability of a network is defined as the total benefit secured after arbitrarily selected k edges are destroyed. The problem of computing k-edge survivability is known to be NP-hard and has applications of evaluating the survivability or vulnerability of a network. In this paper, we consider the k-edge survivability problem restricted to ring networks and develop an algorithm to solve it in O($n^3$|K|) time where n is the number of nodes and K is the set of source-sink pairs.

• East Asian Economic Review
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• 제20권3호
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• pp.391-423
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• 2016

By examining the relationship between private credit growth and the possibility of credit risk while focusing on international capital in 21 countries over the period 2000:1Q-2015:2Q, this paper shows that the impact of private credit growth on credit risk is apparent under the high ratio of capital inflows, and its impact on credit risk in the seven Asian countries is even stronger. And the possibility of credit risk caused by private credit is mainly coming from portfolio inflows rather than direct inflows. Finally, portfolio inflows strengthen the positive relationship between credit excess and credit risk in Asian countries, and this trend is seen more in these after the global financial crisis. Taken together, the stronger positive relationship between credit excess and credit risk can be strengthen under the massive portfolio inflows in particular in the seven Asian countries such as Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, and Thailand.

• Management Science and Financial Engineering
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• 제17권2호
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• pp.99-129
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• 2011

This paper analytically studies how to choose hedging instrument for firms with steady operating cash flows from value maximization perspective. I derive a formula to determine option's optimal strike that makes hedged cash flow have the best monetary payoff given a hedger's view on the underlying asset. I find that not only the expected mean but also the expected standard deviation of the underlying asset in relation to the forward price and the implied volatility play a crucial role in making optimal hedging decision. Higher moments play a certain part in hedging decision but to a lesser degree.

• Management Science and Financial Engineering
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• 제15권2호
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• pp.53-68
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• 2009

In this paper, we address a problem for minimizing the number of items inspected in a back-light-unit (BLU) inspection system, which includes a K-stage inspection system, a source inspection shop, and a re-inspection shop. In order to formulate our objective, we make a steady-state flow analysis between nodes (or shops), and derive the steady-state amount of flows between nodes and defective rates by solving a nonlinear balance equation. We provide an enumeration method for determining an optimal value of K which minimizes the number of items inspected. Our methodology could be applied and extended to similar situations with slight modification.

• Management Science and Financial Engineering
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• 제16권1호
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• pp.119-135
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• 2010

In this paper, we readdress the optimization problem for minimizing the inspection cost in a back-light unit inspection system, which forms a network including a K-stage inspection system, a source inspection shop, and a re-inspection shop. In order to formulate our objective function when the system is in a steady state, assuming that the number of nonconforming items in a lot follows a binomial distribution when a lot is formed for inspection, we make a steady-state network flow analysis between shops, and derive the steady-state amount of flows between nodes and the steady-state fraction defectives by solving a nonlinear balance equation. Finally we provide some fundamental properties and an enumeration method for determining an optimal value of K which minimizes our objective function. In addition, we compare our results numerically with previous ones.

• 지역연구
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• 제15권2호
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• pp.103-116
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• 1999

As Asia becomes increasingly integrated economically, opportunity particularly in managing financial flows, as bases to coordinate regional production networks, and as staging points for the penetration of new markets. The paper argues for a path-dependent logic to understanding the efforts of the Singapore State in hosting hub functions. As a city-state without a national economic hinterland, Singapore's response to increasing business costs and regional competition has been to create a set of policies designed to encourage multinational companies to keep administrative control functions in Singapore while moving the more labour and land intensive production functions to nearby Malaysia and Indonesia. An understanding of the competition among cities in the Asia Pacific for hub functions must also take into account corporate strategy within particular industry dynamics. The second half of the paper provides a number of case studies to show this interplay between corporate strategy, industry dynamic and government policy.

• Management Science and Financial Engineering
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• 제19권1호
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• pp.17-23
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• 2013

It has been studied that retailer's using a suboptimal (R, T) policy is often more desirable to make the best use of information flows than the locally optimal (s, S) policy in a two-stage serial supply chain. In this paper, by performing an extensive computational study, we tabulate the benefit of the retailer's using (R, T) policy instead of (s, S) policy in a supply chain with information sharing, and compare it to a maximum possible benefit that could be achieved in a centralized supply chain. We can understand the mechanisms of how the cost parameters and demand variance affect the benefit of the retailer's using (R, T) policy instead of (s, S) policy, by comparing decentralized and centralized systems.

• 무역학회지
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• 제44권1호
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• pp.253-268
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• 2019

This paper analyses the characteristics of partner countries when multinational firms of Korea, China, and Japan make greenfield FDI in foreign countries. Particularly, this paper applies the gravity model for greenfield FDI flows for the period 2003-2017. This paper finds that multinational firms of Korea, as compared to those of China and Japan, are very significantly and negatively responsive to political risks of partner countries. In contrast, multinational firms of Korea as well as those of China and Japan tend to make greater amounts of greenfield FDI in financially high-risk countries. This result indicates that multinational firms from these three countries should take financial risks of partner countries into more serious consideration.

• 대한안전경영과학회지
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• 제22권4호
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• pp.1-8
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• 2020

In general, companies operate systematically in response to financial risks such as exchange rates and liquidity, while they are vulnerable to risks in the manufacturing and sales processes. In particular, logistics refers to the activities for planning, managing and implementing efficient flows from the starting point of goods and products to the point of consumption, The purpose of this study was to develop key risks and key risk management indicators (KRIs) for risks that undermine logistics efficiency so that logistics risks can be effectively prevented and managed. As a result, 40 risk management indicators (KRIs) were developed in a total of six categories in the logistics sector, and the definition, calculation method and early warning grade of each KRI were presented so that companies could prevent risks in advance in logistics activities and contribute to enhancing efficiency of their work.