• Journal of the Korea Academia-Industrial cooperation Society
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• v.1 no.1
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• pp.83-90
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• 2000

DEA is a newly developed analyzing tool to measure efficiency evaluation of decision making units (DMU). It compares DMU by radial Projection on the efficient frontier. The purpose of this study is to show reference point approach used for searching solution in multiple objective linear Programming can be usefully used to determine flexible efficient frontier of each DMU In reference point approach, the minimization of ASF Produces an efficient points in frontier and enhances the usefulness of DEA by Providing flexibility in DEA and optimally allocating resources to DMU. Various DEA models can be supported by reference point method by changing the projection direction in order to choose the targets units, standards costs and management benching-marking.

• Journal of Korean Neurosurgical Society
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• v.66 no.4
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• pp.409-417
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• 2023

Objective : The association between boule (BOLL) and endothelin receptor type A (EDNRA) loci and intracranial aneurysm (IA) formation has been reported via genome-wide association studies. We sought to identify genome-wide interactions involving BOLL and EDNRA loci for IA in a Korean adult cohort. Methods : Genome-wide pairwise interaction analyses of BOLL and EDNRA involving 250 patients with IA and 296 controls were performed using the additive effect model after adjusting for confounding factors. Results : Among 512575 single-nucleotide polymorphisms (SNPs), 23 and 11 common SNPs suggested a genome-wide interaction threshold (p<1.25×10^-8) involving rs700651 (BOLL) and rs6841581 (EDNRA). Rather than singe SNP effect of BOLL or EDNRA on IA development, they showed a synergistic effect on IA formation via multifactorial pair-wise interactions. The rs1105980 of PTCH1 gene showed the most significant interaction with rs700651 (natural log-transformed odds ratio [lnOR], 1.53; p=6.41×10^-11). The rs74585958 of RYK gene interacted strongly with rs6841581 (lnOR, -19.91; p=1.64×10^-9). Although, there was no direct interaction between BOLL and EDNRA variants, two EDNRA-interacting gene variants of TNIK (rs11925024 and rs1231) and FTO (rs9302654), and one BOLL-interacting METTL4 gene variant (rs549315) exhibited marginal interaction with BOLL gene. Conclusion : BOLL or EDNRA may have a synergistic effect on IA formation via multifactorial pair-wise interactions.

• Korean Management Science Review
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• v.31 no.2
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• pp.49-63
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• 2014

With the huge concerns on the inefficiency of public enterprises, particularly a significant amount of debt, an increasing number of studies have been carried out to analyze the levels of inefficiency and investigate the causes of that inefficiency. However, very limited range of analytical methodologies have been used in the efficiency analysis and moreover, the effects of external factors have been little addressed. This study explores the efficiency of urban railway corporations in Korea by utilizing a method of stochastic frontier analysis (SFA). In particular, the potential effects of external factors including residential and floating populations of a station were statistically analyzed. A total of seven Korean urban railway corporations were selected to compare each other in terms of operational efficiency. The results present three important findings. First, the Cobb-Douglas model was found to be more valid for SFA compared to the Translog model. Second, the efficiencies of urban railway corporations in Seoul and Busan are relatively high whereas those of Daejeon and Gwangju are very low in efficiency in the area of sales revenue. In an aspect of number of transport of passengers, Gwangju Metro also showed the lowest efficiency. Third, the external factors are significantly associated with the efficiency, indicating that the efficiencies of Daejeon Metro and Gwangju Metro would increase while the efficiency of Seoul Metro would decreases when the external variables are excluded in the efficiency analysis. The results provide several meaningful implications for managers of the urban railway corporations as well as policy makers who are attempting to resolve the inefficiency problems of public enterprises.

• Communications for Statistical Applications and Methods
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• v.20 no.2
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• pp.115-127
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• 2013

This paper provides an effective stock portfolio screening tool for socially responsible investment (SRI) based upon corporate social responsibility (CSR) and financial performance. The proposed approach utilizes nonparametric frontier models. Data envelopment analysis (DEA) has been used to build SRI portfolios in a few previous works; however, we show that free disposal hull (FDH), a similar model that does not assume the convexity of the technology, yields superior results when applied to a stock universe of 253 Korean companies. Over a four-year time span (from 2006 to 2009) the portfolios selected by the proposed method consistently outperform those selected by DEA as well as the benchmark.

• Ocean and Polar Research
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• v.30 no.4
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• pp.445-451
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• 2008

This paper examines measures of technical efficiency in off-shore fishery based on a frontier production function model of the Cobb-Douglas type. Technical efficiency ranges between 57.13 and 98.62 percent. The results suggest that the highest TE in the industry is the trawl. Also, this analysis shows that Busan's Danish seine fishery has a maximum TE. Angling in Gangwon has a minimum TE. Empirical measures of technical efficiency in this study can be useful in analyzing the potential effects of policies designed to deal with the current fishery industry.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2005.10a
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• pp.521-532
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• 2005

IT 기업의 기술적 효율성의 정도를 추정하고, 그 결정요인을 알아보기 위해 Coelli(1995)의 확률적프론티어(Stochastic Frontier model) 중 초월대수 변경생산함수(translog stochastic frontier production function)를 설정한다. 분석견과 연구개발투자, 기업의 재무구조, 설비투자효율, 노동소득분배율 등은 기업의 비효율을 감소시키는 역할을 하는 반면, 기업규모, 재고자산증가율, 자기자본증가율 등은 기업의 비효율성을 더 높여주는 것으로 나타났다. 1990년부터 2004년까지 국내 제조업 전체의 생산의 기술적 효율성은 평균 0.5311로 이는 생산효율성이 $53.11\%$임을 의미하고, 비효율성은 $46.89\%$에 달한다고 볼 수 있다. IT 기업의 기술적 효율성은 0.5337회 제조업과 비슷하지만, IT 대기업은 0.61, IT 중소기업은 0.511로 대기업과 중소기업의 격차가 크게 발생하고 있다.

• Journal of computational fluids engineering
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• v.14 no.4
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• pp.31-40
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• 2009

Although optimization by sequentially refining metamodels is known to be computationally very efficient, the metamodel that can be used for this purpose is limited to Kriging method due to the difficulties related with sample points selections. The present study suggests a novel method for sequentially refining metamodels using Pareto Frontiers, which can be used independent of the type of metamodels. It is shown from the examples that the present method yields more accurate metamodels compared with full-factorial optimization and also guarantees global optimum irrespective of the initial conditions. Finally, in order to prove the generality of the present method, it is applied to a 2D transonic airfoil optimization problem, and the successful design results are obtained.

• East Asian Economic Review
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• v.24 no.3
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• pp.275-301
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• 2020

We analyze state-level matching efficiencies in the Indian labor market using stochastic frontier analysis. The key contribution of this research is the estimation of matching efficiencies at the state level because these can be used for a state-level measure of labor market conditions. Next, we explore the relationship between the estimated matching efficiencies and population density, labor market flexibility, and the Ease of Doing Business index, respectively. The results show that matching efficiency is heterogeneous across states with considerable variation in accordance with the regional diversity in India. However, we find that there is little relationship between the estimated matching efficiencies and the labor market conditions of interest, suggesting that other regional diversity affects matching efficiencies across states in India.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.147-158
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• 2020

We apply Return Dispersion Model by calculating CSAD (Cross-sectional standard deviation of return) and State Space Model to identify herding behavior in the period of pandemic (H1N1 and COVID-19). Employing data from TEJ and Data Stream, this paper examines whether the herding behavior is existing in Vietnam and Taiwan stock market, especially during pandemic influenza. We compare the differences in herding behavior between frontier and emerging markets by examining different industries across Vietnam and Taiwan stock market approaches. The results indicate solid evidence for investor herd configuration in the various industries of Vietnam and Taiwan. The herding impact in the industries will be greater than with the aggregate market. The different industries respond differently to influenza pandemic panics through uptrend and downtrend demonstrations. Up to 12 industries were found to have herding in Vietnam, while Taiwan had only 5 of 17 industries classified. Taiwan market, an emerging and herding-level market, has changed due to the impact of changing conditions such as epidemics, but not as strongly as in Vietnam. From there, we see that the disease is a factor that, not only creates anxiety from a health perspective, but also causes psychological instability for investors when investing in the market.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.73-83
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• 2018

The purpose of this paper is to examine the relationship between regional financial development and corporate investment efficiency as well as the relationship between firm-level characteristics and corporate investment efficiency. Using a large sample of A-listed companies in China from CSMAR database between 2003 and 2016, this paper explores corporate investment efficiency and its influencing factors in emerging market on the basis of heterogeneous stochastic frontier model. The results show that: (1) the average investment efficiency of Chinese listed companies is 74.5%, and the investment efficiency of large enterprises, state-owned enterprises and enterprises with relatively high financial development level is significantly higher; (2) compared with average corporate investment efficiency in the year 2003, the investment efficiency of different types of enterprises in 2016 is significantly higher, and the gap is gradually widening; (3) enterprise heterogeneity namely firm size, nature of property right, and institutional environment reflected by the level of regional financial development indirectly affects corporate investment efficiency by influencing the financing constraints and uncertainty. The findings suggest that to improve corporate investment efficiency in emerging market, financial market should be accelerated, regional balance should be restored and the differences among regions, industries and differences between public and private sectors should be eliminated.