• Information Systems Review
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• v.20 no.4
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• pp.43-57
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• 2018

We propose network effects upon the investment decision of cloud-based ERP. Using the survey data collected from 82 companies in 2015, we examine whether IT managers have an intention to adopt real options in order to manage the risk of cloud-based ERP investments and how the network effects influence upon the intention to adopt real options. Based on prior literature, we propose a research model with 4 hypotheses. We find partial support of the hypotheses from the empirical analysis: technological risks has a positive impact upon the adoption of real options such as defer, contract, and abandon. In contrast, we find no significant impact of security risks upon real options. We validate positive network effects upon the adoption of real options such as defer, contract, and abandon. This work empirically find that IT managers in Korean middle and small sized firms have an intention to adopt real options when the managers realize economic, technological, and relationship risks and when they expect network effects.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.12 no.2
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• pp.401-406
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• 2008

Fall event detection is one of the most common problems for elderly people, especially those living alone because falls result in serious injuries such as joint dislocations, fractures, severe head injuries or even death. In order to prevent falls or fall-related injuries, several previous methods based on video sensor showed low fall detection rates in recent years. To improve this problem and outperform the system performance, this paper presented a novel approach for fall event detection in the elderly using a subtraction between successive difference images and temporal templates in real time environment. The proposed algorithm obtained the successful detection rate of 96.43% and the low false positive rate of 3.125% even though the low-quality video sequences are obtained by a USB PC camera sensor. The experimental results have shown very promising performance in terms of high detection rate and low false positive rate.

• The Journal of the Korea Contents Association
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• v.8 no.10
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• pp.129-141
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• 2008

Comprehensive real estate taxes needs to be improved so that it performs its intended functions by realizing fair taxation and stabilizing the price of real estate, and ultimately attains social justice in Korea. This study analyzed the current state of comprehensive real estate taxes through a questionnaire survey, and the results are summarized as follows. First, in the analysis of people's perception on the adequacy of the tax rate of comprehensive real estate taxes, those who owned a house worthy of 600 million won or a higher value as an object of real estate tax perceived the adequacy of the tax rate more negatively than those who owned a house of less than 600 million won. The same result was observed for comprehensive real estate taxes on lands. Second, in the analysis of the contribution of comprehensive real estate taxes to the accomplishment of policies, the respondents showed a high frequency of positive replies to some of policies related to comprehensive real estate taxes.

• Journal of Korean Institute of Industrial Engineers
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• v.38 no.2
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• pp.144-156
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• 2012

In recent years, advanced countries in energy sector are emphasizing the importance of the development and deployment of renewable energy to cope with the global environmental crisis such as depletion of fossil energy, climate convention to control emissions of greenhouse gases. In this paper, we evaluate the economic value of the investment in new and renewable energy R&D in Korea and optimal deployment timing of new and renewable energy by using the real option approach. The real option model adopted in this paper assumes that a decision maker has a compound option to abandon, deployment, or continue the R&D. As a result by using empirical data of Korea, it is found that there exists a considerable amount of positive real option value (ROV) in the investment of new and renewable energy R&D while its net present value (NPV) calculated by traditional discounted cash flow (DCF) model shows negative value.

• Knowledge Management Research
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• v.17 no.3
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• pp.161-179
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• 2016

The recent patent wars in the information technology (IT) industry demonstrate the strategic importance of IT patents in the industry. In this paper, we adopt the lens of real options to study the value of IT patents for IT firms. Specifically, we examine the relationship between IT patents and firms' market performance. We also consider the moderating effect of the innovation orientation of firms' patent portfolios (exploitative vs. explorative). Based on a large panel dataset consisting of 697 firms in US IT industries, our results suggest that the impact of IT patents on firm value (as measured by Tobin's q) is positive and significant. Further, we find that this impact varies, depending on the innovation orientation of firms' patent portfolios. IT patent portfolios with higher levels of an exploitative orientation are associated with higher firm value, compared to those with a lower exploitative orientation. This study highlights the value of employing real options theory as the underlying mechanism in understanding the impact of patents on firm valuation. Future researchers can adopt the real options lens to identify and empirically examine the role of other factors that may affect the value of patents and other investments exhibiting real option characteristics. While our paper answers some questions about the value of patents in the IT industry, it also raises a number of additional new questions. As such, we hope that it will generate more research on this important topic.

• Journal of the Korean Operations Research and Management Science Society
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• v.22 no.1
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• pp.101-121
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• 1997

Consider a Jackson type closed queueing network in which each queue has a single exponential server. Assume that N customers are moving among .kappa. queues. We propose a candidata procedure which yields a lower bound of the network throughput which is sharper than those which are currently available : Let (.rho.$_{1}$, ... .rho.$_{\kappa}$) be the loading vector, let x be a real number with 0 .leq. x .leq. N, and let y(x) denote that y is a function of x and be the unique positive solution of the equation. .sum.$_{i = 1}$$^{\kappa}$y(x) .rho.$_{i}$ (N - y(x) x $p_{i}$ ) = 1 Whitt [17] has shown that y(N) is a lower bound for the throughput. In this paper, we present evidence that y(N -1) is also a lower bound. In dosing so, we are led to formulate a rather general conjecture on 'quot;Migrating Critical Points'quot; (MCP). The .MCP. conjecture asserts that zeros of successive derivatives of certain rational functions migrate at an accelerating rate. We provide a proof of MCP in the polynomial case and some other special cases, including that in which the rational function has exactly two real poles and fewer than three real zeros.tion has exactly two real poles and fewer than three real zeros.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.35-44
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• 2018

The study is aimed at investigating the main factors that affect the interest rate yields, in the long-term. In addition, the study surveys the theories and literature relating to the determinants of interest rate. The importance of which is essential not only for governments, but also for banks and corporate financial risk management decisions, including risk exposures in banks and capital markets. Interest rate influences corporate profit as well as growth. For this purpose, the study examines the impact of budget deficit, risk-free rate, capital inflows, money supply and business cycles on real interest rate in Jordan. These factors are based upon well-established theories and straightforward practical view as interest rate determinants. Using data for (1990-2015), the study employed Johansen's co-integrating test, which takes into consideration the long-term unsynchronized relationships. The data is tested for normality, symmetric correlations, covariance diagonal and unit root. The results show that the government budget deficit, short-term risk-free interest rate, capital inflows, money supply and business cycle are long-term determinants of the real interest rate in Jordan. The coefficients of government budget deficit, short-term risk-free rate, money supply and business cycle all are inversely affecting the real interest rate, while capital inflows has a positive impact on the real interest rate.

• Journal of Microbiology and Biotechnology
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• v.20 no.3
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• pp.569-573
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• 2010

A quantitative detection method for Salmonella in seafood was developed using a SYBR Green-based real-time PCR assay. The assay was developed using pure Salmonella DNA at different dilution levels [i.e., 1,000 to 2 genome equivalents (GE)]. The sensitivity of the real-time assay for Salmonella in seeded seafood samples was determined, and the minimum detection level was 20 CFU/g, whereas a detection level of 2 CFU/ml was obtained for pure culture in water with an efficiency of ${\geq}85%$. The real-time assay was evaluated in repeated experiments with seeded seafood samples and the regression coefficient ($R^2$) values were calculated. The performance of the real-time assay was further assessed with naturally contaminated seafood samples, where 4 out of 9 seafood samples tested positive for Salmonella and harbored cells <100 GE/g, which were not detected by direct plating on Salmonella Chromagar media. Thus, the method developed here will be useful for the rapid quantification of Salmonella in seafood, as the assay can be completed within 2-3 h. In addition, with the ability to detect a low number of Salmonella cells in seafood, this proposed method can be used to generate quantitative data on Salmonella in seafood, facilitating the implementation of control measures for Salmonella contamination in seafood at harvest and post-harvest levels.

• Journal of Korea Society of Industrial Information Systems
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• v.16 no.2
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• pp.125-137
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• 2011

This study empirically examined the structural relationships among service quality of internet real estate information web-sites, trust, customer satisfaction and reuse intention. In order to achieve the purpose, survey method was applied using a sample of 293 real estate information web-site users. The results of this study showed that service quality of real estate web-sites had a significant effect on trust and customer satisfaction. And, the trust of web-sites have influenced on customer satisfaction and reuse intention. Finally, the customer satisfaction of estate information web-sites had a significant positive effect on reuse intention.

• Journal of Information Processing Systems
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• v.10 no.2
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• pp.314-333
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• 2014

When analyzing default predictions in real estate companies, the number of non-defaulted cases always greatly exceeds the defaulted ones, which creates the two-class imbalance problem. This lowers the ability of prediction models to distinguish the default sample. In order to avoid this sample selection bias and to improve the prediction model, this paper applies a minority sample generation approach to create new minority samples. The logistic regression, support vector machine (SVM) classification, and neural network (NN) classification use an imbalanced dataset. They were used as benchmarks with a single prediction model that used a balanced dataset corrected by the minority samples generation approach. Instead of using prediction-oriented tests and the overall accuracy, the true positive rate (TPR), the true negative rate (TNR), G-mean, and F-score are used to measure the performance of default prediction models for imbalanced dataset. In this paper, we describe an empirical experiment that used a sampling of 14 default and 315 non-default listed real estate companies in China and report that most results using single prediction models with a balanced dataset generated better results than an imbalanced dataset.