• Journal of the Korea Safety Management & Science
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• v.3 no.4
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• pp.91-101
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• 2001

This paper is to develop replacement models under minimal repair with exponential polynomial wavelet failure rate function. Wavelets have good time-frequency localization, fast algorithms and parsimonious representation. Also this study is presented along with numerical examples using sensitivity analysis for exponential polynomial trigonometric failure rate function.

• Journal of the Korean Operations Research and Management Science Society
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• v.20 no.1
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• pp.85-99
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• 1995

Increasingly, risk analysis is becoming important ingredients in achieving the successful implementation and application in the area of the project management. The project management system is designed to manage or control the project resources on a given activity within time, cost and performance so called TPPM (Total Productive Project Management). In this research, a risk analysis model misproposed to identify potential problem areas, quantify the risks, and generated the chice of the action that can be taken to reduce the risk. In addition two analysis models are proposed : 1) risk factor model and 2) network simulation model using VERT (Venture Evaluation and Review Technique ). The objective of the remodels is to estimate the schedule, cost performance risks. These proposed quantitative models for project risk analysis are proving its value for the project managers who need to assess the risk of changes in cost, schedule, or performance. The proposed models will be used in the area of project selection, evaluation and the allocation of project resources.

• Management Science and Financial Engineering
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• v.5 no.1
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• pp.27-49
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• 1999

WebME is an Web-based integrated modeling environment that implements a multi-facetted modeling approach to mathematical model representation and management. Key features of WebME include the following: (i) sharing of modeling knowledge on the Web, (ii) a user-friendly interface for creating, maintaining, and solving models, (iii) independent management of mathematical models from conceptual models, (iv) object-oriented conceptual blackboard concept, (v) multi-facetted mathematical modeling modeling, and (vi) declarative representation of mathematical knowledge. This paper presents details of design and implementation issues that were encountered in the development of WebME.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1990.04a
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• pp.42-48
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• 1990

Increasing concerns about model management system lead to studies of user friendliness and model executions. This paper presents model as object's method based on the Object-Oriented Concepts which makes it possible to represent model's operation and enables general decision makers to identify and select more appropriate models. This capability reduces the semantic gap between decision maker and model builder. This view is also able to execute models by way of automatic Ada code generation and specific LP formulation for LINDO. A prototype system is implemented in Pascal.

• Journal of the Korean Operations Research and Management Science Society
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• v.16 no.2
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• pp.33-33
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• 1991

The management of enterprise knowledge has been increasingly important because knowledge emerges as the new basis of competition in postcapitalist society. One of the key issues in knowledge management is to put knowledge into a repository where it can be easily stored, reused, and recreated. This paper proposes a model repository and the corresponding knowledge management framework. The emphases of model repository is on abstraction knowledge in the form of schematic models. Two major benefits are model independence and model integration. A metaschema is constructed according to six conceptual components: separate unit, external link, internal link, separate unite descriptor, link descriptor, and composite descriptor, which can be applied for a variety of models. A prototype system with a case illustrates the practical usefulness of model repository for knowledge management

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.339-347
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• 2021

This study aims to forecast the exchange rate by a combination of different models as proposed by Poon and Granger (2003). For this purpose, we include three univariate time series models, i.e., ARIMA, Naïve, Exponential smoothing, and one multivariate model, i.e., NARDL. This is the first of its kind endeavor to combine univariate models along with NARDL to the best of our knowledge. Utilizing monthly data from January 2011 to December 2020, we predict the Pakistani Rupee against the US dollar by a combination of different forecasting techniques. The observations from M1 2020 to M12 2020 are held back for in-sample forecasting. The models are then assessed through equal weightage and var-cor methods. Our results suggest that NARDL outperforms all individual time series models in terms of forecasting the exchange rate. Similarly, the combination of NARDL and Naïve model again outperformed all of the individual as well as combined models with the lowest MAPE value of 0.612 suggesting that the Pakistani Rupee exchange rate against the US Dollar is dependent upon the macro-economic fundamentals and recent observations of the time series. Further evidence shows that the combination of models plays a vital role in forecasting, as stated by Poon and Granger (2003).

• Korean Management Science Review
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• v.28 no.2
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• pp.1-16
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• 2011

In this study we suggested two optimization models to answer a question from an investor standpoint : how many convertible bonds should one convert, and how many keep? One model minimizes certain risk to the minimum required expected return, the other maximizes the expected return subject to the maximum acceptable risk. In comparison with Markowitz portfolio models, which use the variance of return, our models used Conditional Value-at-Risk(CVaR) for risk measurement. As a coherent measurement, CVaR overcomes the shortcomings of Value-at-Risk(VaR). But there are still difficulties in solving CVaR including optimization models. For this reason, we adopted Rockafellar and Uryasev's[18, 19] approach. Then we could approximate the models as linear programming problems with scenarios. We also suggested to extend the models with credit risk, and applied examples of our models to Hynix 207CB, a convertible bond issued by the global semiconductor company Hynix.

• Korean Management Science Review
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• v.30 no.3
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• pp.55-70
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• 2013

In this study we suggested two optimization models to determine conversion weight of convertible bonds. The problem of this study is same as that of Park and Shim [1]. But this study used Value-at-Risk (VaR) for risk measurement instead of CVaR, Conditional-Value-at-Risk. In comparison with conventional Markowitz portfolio models, which use the variance of return, our models used VaR. In 1996, Basel Committee on Banking Supervision recommended VaR for portfolio risk measurement. But there are difficulties in solving optimization models including VaR. Benati and Rizzi [5] proved NP-hardness of general portfolio optimization problems including VaR. We adopted their approach. But we developed efficient algorithms with time complexity O(nlogn) or less for our models. We applied examples of our models to the convertible bond issued by a semiconductor company Hynix.

• Journal of the Korea Safety Management & Science
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• v.9 no.5
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• pp.43-48
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• 2007

This paper is to present linkage parameter to integrate statistical models and physical models for accelerated life test. Statistical models represent the relationship of probability distribution and life. Physical models show the relationship of life and stress. Moreover, this study proposes the four steps for construction of integrated models for accelerated life test using linkage parameter. Finally, this paper develops new integrated models such as extreme value distribution-general Eyring, linearly increasing failure rate function-general Eyring, etc., and estimates various reliability measures.

• Journal of the Korea Safety Management & Science
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• v.6 no.1
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• pp.257-268
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• 2004

According to the World Competitiveness Yearbook(WCY), competitiveness of nations looks how nations create and maintain an environment which sustains the competitiveness of its enterprises. To develop economics and join the ranks of the advanced countries in the global market, Korea needs to consider the national competitiveness. Consequently, in this study, first, we try to know a concept of national competitiveness. Second, we also investigate models of national competitiveness. Finally, we suggest an improvement strategy, which is based on models, as compared with many countries of Europe.